Monday, December 05, 2011

Prison Planet.com » IT’S YOUR CHOICE, EUROPE: Rebel Against the Banks OR Accept Debt-Serfdom

Prison Planet.com » IT’S YOUR CHOICE, EUROPE: Rebel Against the Banks OR Accept Debt-Serfdom:
... Let the banks implode in bankruptcy, clear the worthless “assets” of debt from the books, and let the market price currencies and everything else. The only other choice is debt-serfdom.

All the other schemes and proposals are simply variations of one single fantasy: that the feckless leadership can fool the repricing genie with parlor tricks. They can’t. Everybody with any understanding of the situation knows that the debt bubble has already burst, and risk and debt cannot be repriced back to fantasy levels.

That repricing has already occurred, and cannot be revoked or shoved back in the bottle. The Great European Debt Bubble has already burst, and so now it boils down to a simple choice: debt serfdom or open rebellion against the banks that profited so handsomely from the euro-fantasy.

There is no middle ground, as the debt cannot be repaid, not now and not in the future. It cannot be reshuffled, masked, or hidden; it can only be renounced.

It’s your choice, Europe; choose wisely. If you want a model for sanity and growth, look to Iceland. They renounced their unpayable debts and debt-serfdom, and let the market reprice their currency, debt and risk. The nightmare is past for them; they chose wisely. Now it’s your turn to choose.

The debt-serfdom will fall to you, not the banks or your Elites.



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