Punked World (James Howard Kunstler)

[Tace]

James Howard Kunstler -- World News Trust

Sept. 26, 2011 -- Europe is a three-card monte game and Greece is the pea and for the moment I'd guess that the pea is under a walnut shell called France. Or the French banks, to be specific.

Their vaults are stuffed with Greek bond paper that is giving the whole neighborhood a headache from a stench like unto rotting carp. Everybody else in the neighborhood has their own cache of deliquescing fish-heads, but they pretend the air is fresh and bracing. In fact, so exhilarating that they are avid to dump $3 trillion into a Euro bailout fund that will solve the problem of that fugitive aroma wafting down the boulevards.

Europe can really only put out stories at this point, and the $3 Tril bailout fund is just another story in a tedious string of them. Where are they going to get the money? From the machinists' union in Dusseldorf? The waiters and chambermaids in Munich? There's that rumored swap line opening from the Federal Reserve to the European Central Bank, but that's nothing more than a cheap loan window, and for a measly half a trillion ($500 billion -- the late Senator Ev Dirkson is cackling in his grave). And where do those dollars come from anyway? Who is supposed to pay it back, and how? What kind of collateral is Ben Bernanke going to hold -- the contents of the south wing of the Louvre? One hundred million free dinners (wine and tip included) at Taillevent? This game of musical chairs with a hot potato is not fooling anyone, really.

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http://worldnewstrust.com/punked-world-james-howard-kunstler.html

[Demeter]

1. Who Unrecced this?

Someone who is in complete denial, I'll wager.

They will get the money by printing it, silly! That's where it all comes from.

Now wealth, wealth comes from labor, or from stealing from labor.