the words of just one speaker
at one occupy gathering

http://jdeanicite.typepad.com/i_cite/2011/10/slavoj-%C5%BEi%C5%BEek-speaks-at-occupy-wall-street-transcript-the-parallax-impose-magazine.html

god bless those who put others thoughts into word

noted per ridicules last rant..

""What it does,
is make the Banks highly vulnerable""

tell him he is dreaming...its the savers who loose in the end
bank had nothing..made the debt..then got their govt stooges to sign the check

lol..vulnerable..""to the stupidity of governments""

more like govt is vulnerable to bankers greed

""(and individuals, of course)
who over-borrow like crazy in the boom times,""

which is why the bankers NEDED and got the bailout
by govt bonds..[at then low intrest]..but now going sky high[like greece FORCED to repay 4% intrest loans..with 26%..loans

better to default 4%
than 26%

mate thats criminal..!

BANKS..""then whinge like stuck pigs
when the reality of their position comes back to bite them.""

and they [by being too big to fail]
get bailed out..by govts lending from those claiming to be broke[bankers lending to fools[capitalists]..

then AGAIN lending..lol..to govts
to bail them out..

its insane mate
even worse its criminal
TREASON..for govt to bail out capitalists...

AND THEN LOCK IN 26%..intrest burdens
on top of austerity..and privatisation
[selling the peoples asets to capitalists..]

[mate your defending theft/treason
with inane raves]

""All those banks who lent to the Greek government have had to accept only half their money back.""

so how much WE
the tax payers getting?
only debt..at odious intrest rates

HIGH TREASON*

""You can say that the Banks were wrong
to lend them the money in the first place,""

giovts were wrong in giving the powers to bankers
HOW INSANE IS GOVT GIFTING THE FED control to bankers?

then paying intrest [up to 26%]..
to faceless bankers..on their own money
[its only legal tender cause govt says so

in reality its only paper
or cyber computer entries

""but you can hardly suggest that they""[bankers]
""are the "supreme rulers" in the equation.""

who decided that intrest will be 26%?

even here your wrong
""governments..have no alternative.""

yes they do
make the trich pay their fair share
pay their tax...stop hiding their wealth in family trusts..in corperations[owned by lol other corperations

we should be..""Allowing the entire banking system to collapse""
and govt take control over the REAL economy
govt running them..wages paid to workers
who own a share of the business

that would stop the next insanity of yourn
collapse.."" would bring down governments too.""

not if they went in to protect assets..protect the workers..protect the common weal..[and return to govt issuing intrest free money..!

your info..re ""global private banksters isn't particularly informative.""

that's just as trickey as your masters spin

Wrong again, one under god.

>>so how much WE
the tax payers getting?
only debt..at odious intrest rates<<

Our interest rates - and the Greek "taxpayers'" interest rates - are not only far from odious, they are going down.

Or hadn't you noticed?

GREEK bonmd rates[intrest]

has gone UP to 26%..!
thats what greeks WILL PAY..
on their odious govt debt bet..

per ridicules..quote..""Bonds aren't "taken out".
They are offered for sale. No-one is forced to buy them.""

so the most clever guys..in the room
the geeks..bought them..because they knew they will in the end win?

so lets egsamin the math
see the bottum line

i said..>>so look at it this way..better to 'default a 4% bond
or a 26%..bond..<<

you say...""Let's say..we have a 1 million euro bond,""

lets say more like real life

so were talking NOW about..[after the haircut][lol]
100 BILLION..

[so your egsample..should read 100 BILLION]

""issued with a 4% coupon.''
being paid out..by a new loan[sorry bond rate
of 26%..mate thats a rich yeild]

no wonder they are prepared to 'take a brief haircat..
PLUS a bailout[payoff..next year]..of the other 100 billion IN CASH..[sorry negotiable bond]

""It now changes hands for $154,000,""

that 'changes hands,..for 154,000,000,000'

""which gives an interest rate of 26%.""

ok im wit ya

tell me ol china
who has that sort of cash?
in euro's

TELL me ol china..whats
the FULL capitalisation of the euo's *issued by bankers?

""Asking "which is better to default on" is therefore a nonsense question""

no mate..IN ANY COURT..negotiating from 4%
and negotiating from 26%
gives a much larger ODIOUS DEBT..result

the bigger the numbers
the worse it gets

recall ..italy
BEGINS from 1 trillion plus
germany begins from 23 trillion plus
france BEGINS from 3 trillion plus

""you are defaulting on the principal,
not the interest rate.""

no mate
your defaulting from a contract
that hold your honour..[even if writ in dishonour]
defaulting on 4%..or defaulting on 26%..in 4 years
HAS ONLY COMPOUNDED THE REAL END DEBT..!

in four years its back
to what it is today..!

Clearer now?

As I have tried to explain many times, one under god, this is a fundamental misunderstanding of the situation:

>>GREEK bonmd rates[intrest]
has gone UP to 26%..!
thats what greeks WILL PAY..
on their odious govt debt bet..<<

The is simply not correct. You have confused the yield available on the secondary market to people who want to hold Greek government debt, with the coupon rate established when the bond was issued...

Which

Does.

Not.

Change.

The only variable, given the current plan, is what the government will repay on the loan made to them, to the last institution holding their debt when the bond matures.

"Follow the money": if you were to track that bond to maturity, the yield available in the secondary market would inevitably move closer and closer to the coupon rate, until they are identical - on the date of redemption.

Does that help?