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<blockquote data-quote="vantexan" data-source="post: 3612296" data-attributes="member: 24302"><p>But printing money to pay bills has it's own consequences. The Germans know this. Their own Weimer Republic created such conditions that lead to the rise of Hitler. And there are two types of money at play. Banks lent Greece money so that it could cover it's shortfalls. That's depositor money. If that doesn't get paid back that represents real losses to real people and leads to bank failures. To prevent that you have to bring in taxpayer money. What you aren't seeing is that failure by Greece to pay back it's debts starts a dominoe effect that can cause a worldwide banking collapse. You say print money. Greece is a government, why doesn't it just print it's way out of it? Because printing money inflates it, makes it less valuable. So the debts would be paid back with less valuable money, which is unacceptable. The Obama administration was doing this for awhile, and the holders of our debt started threatening to not loan us anymore money and create a new world reserve currency. Would've been disastrous for the U.S.. You've been convinced that all that's standing between us and a worker's paradise is a cabal of bankers and one percenters who are milking us dry. It's so much more complex than that but class envy is a surefire way to get votes. And governments have to act responsibly, not promise things like generous retirement benefits at 50, or else they, and their people who foolishly believed those promises were doable, will pay a harsh price.</p></blockquote><p></p>
[QUOTE="vantexan, post: 3612296, member: 24302"] But printing money to pay bills has it's own consequences. The Germans know this. Their own Weimer Republic created such conditions that lead to the rise of Hitler. And there are two types of money at play. Banks lent Greece money so that it could cover it's shortfalls. That's depositor money. If that doesn't get paid back that represents real losses to real people and leads to bank failures. To prevent that you have to bring in taxpayer money. What you aren't seeing is that failure by Greece to pay back it's debts starts a dominoe effect that can cause a worldwide banking collapse. You say print money. Greece is a government, why doesn't it just print it's way out of it? Because printing money inflates it, makes it less valuable. So the debts would be paid back with less valuable money, which is unacceptable. The Obama administration was doing this for awhile, and the holders of our debt started threatening to not loan us anymore money and create a new world reserve currency. Would've been disastrous for the U.S.. You've been convinced that all that's standing between us and a worker's paradise is a cabal of bankers and one percenters who are milking us dry. It's so much more complex than that but class envy is a surefire way to get votes. And governments have to act responsibly, not promise things like generous retirement benefits at 50, or else they, and their people who foolishly believed those promises were doable, will pay a harsh price. [/QUOTE]
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