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Joanne98 Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Apr-10-10 02:22 PM
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The No-Pay Movement

Often also called an activist, Mr. Keiser created quite a stir a few days ago when, on an Al Jazeera program, he claimed that Greece, for the past decade, has fallen victim to the economic terrorists of the Wall Street banking systems and the IMF. In the interview which followed, he claimed if the Greeks want to be protected from the IMF, then they should nationalize their banks thus establishing government owned institutions so as to revive the banking system, while at the same time ceasing to pay back the loans which were issued illegally via cooking the books of the Greek economy by Goldman Sachs. He proposed the expulsion from the country of American banks as well as the IMF. The consequence will be two or three years of heavy recession, during which time Greece will be able to rebuild its economy, ensuring its economic independence.

via The IMF Flag Reads: ECONOMIC SLAVERY.

Since I started covering the financial crisis a year and a half ago, Ive been getting a lot of letters that say things like, This all sucks. But what should we do about it? If you dont have any answers, whats the point?

I dont want to get into this too much since I have more on this coming out in my book, but I would like to point out some of the answers other people are providing to this question. One is this above plan from the hilariously blunt Max Keiser, whose Goldman Sachs are scum interview was one of the comedy highlights of 2009.

Keiser in an interview basically says that the debts countries like Greece owe to banks like Goldman, Sachs for loans and rate swaps are illegitimate since they were criminal deals, made with the intent to cook Greeces books and defraud the citizens of Greece out of their tax money. He therefore proposes that Greece should simply stiff Goldman for those obligations and that, furthermore, American banks should be expelled from the country while the government temporarily nationalizes its banking system and establishes its independence from the financial services industry.

Continued>>>
http://trueslant.com/matttaibbi/2010/04/06/the-no-pay-m...
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midnight Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Apr-10-10 02:29 PM
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1. So curious about how many will go to jail for this world wide collapse?
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glowing Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Apr-10-10 02:35 PM
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2. I think everyone should take a financial holiday.. At least for a month.. really shake things up.
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girl gone mad Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Apr-10-10 04:13 PM
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3. Go Max.
It isn't just foreign countries, lots of American municipalities need to declare BK and walk away from these swaps if the banks won't deal in good faith.
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Taitertots Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Apr-10-10 05:09 PM
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4. The policy also known as economic suicide
How many million people are going to be living in shanty towns after at least two or three years of heavy recession?

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