What can greece central bank do?

[johnyj]

Today's Greek parliament vote proved that money really controls everything, thus who create money will control the world. But in this sense, giving up the money creation right to someone else must be the most stupid move a country can make

isn't this a bit akin to early adopters and their dirty manipulation, or rich guys that can buy plenty of coins at once and control the market, so bitcoin also in the end, is not immune from this

Money must be spent to show its effect of control. With bitcoin you can only spend it once, then you give up that power of control to those who earned the coin. To get back those coins, you must work just like anyone else. But with endless money printing by central banks, that power of control stays forever

[Amph]

Today's Greek parliament vote proved that money really controls everything, thus who create money will control the world. But in this sense, giving up the money creation right to someone else must be the most stupid move a country can make

isn't this a bit akin to early adopters and their dirty manipulation, or rich guys that can buy plenty of coins at once and control the market, so bitcoin also in the end, is not immune from this

Money must be spent to show its effect of control. With bitcoin you can only spend it once, then you give up that power of control to those who earned the coin. To get back those coins, you must work just like anyone else. But with endless money printing by central banks, that power of control stays forever

this is true, but usually those good manipulators/traders, aim at regaining the control over their previous money, and to have even more than before with a good trading strategy

and since some of them could be good traders, they can regain those coins easily enough and without losing "the power", pretty much like a government, also i doubt that they sell everything at once, those individuals suffer from the omnipotence syndrome, they like to dominate

it would not be naive to think that many early adopters are still there ruling the top 100 of bitcoin, and i believe that rich become richer can not be applied only for pos coin, pow is affected as well

[Argwai96]

Today's Greek parliament vote proved that money really controls everything, thus who create money will control the world. But in this sense, giving up the money creation right to someone else must be the most stupid move a country can make

isn't this a bit akin to early adopters and their dirty manipulation, or rich guys that can buy plenty of coins at once and control the market, so bitcoin also in the end, is not immune from this

Money must be spent to show its effect of control. With bitcoin you can only spend it once, then you give up that power of control to those who earned the coin. To get back those coins, you must work just like anyone else. But with endless money printing by central banks, that power of control stays forever

this is true, but usually those good manipulators/traders, aim at regaining the control over their previous money, and to have even more than before with a good trading strategy

and since some of them could be good traders, they can regain those coins easily enough and without losing "the power", pretty much like a government, also i doubt that they sell everything at once, those individuals suffer from the omnipotence syndrome, they like to dominate

it would not be naive to think that many early adopters are still there ruling the top 100 of bitcoin, and i believe that rich become richer can not be applied only for pos coin, pow is affected as well

The crazy this with banks and fiat they could spend the same bill over 3000 times with out needing to create a new bill, well what happen in Greece that they had to limit the withdraw of money per day because they didnt had enough money for everyone from all the free money they create.

[HarHarHar9965]

They can't really do anything they're broke on money

Not anymore. They got more money coming in now, and they had to sacrifice some public land and add a lot of restrictions and regulations are supposed to be implemented in terms of the new bailout. They get more money now from the eurozone but this will happen very soon again, and I don't think its going to end nice for Greece, living like a parasite. I wonder how long will Eurozone have them around.

[johnyj]

Money must be spent to show its effect of control. With bitcoin you can only spend it once, then you give up that power of control to those who earned the coin. To get back those coins, you must work just like anyone else. But with endless money printing by central banks, that power of control stays forever

this is true, but usually those good manipulators/traders, aim at regaining the control over their previous money, and to have even more than before with a good trading strategy

and since some of them could be good traders, they can regain those coins easily enough and without losing "the power", pretty much like a government, also i doubt that they sell everything at once, those individuals suffer from the omnipotence syndrome, they like to dominate

it would not be naive to think that many early adopters are still there ruling the top 100 of bitcoin, and i believe that rich become richer can not be applied only for pos coin, pow is affected as well

People can become richer when their income is larger than expense, that has nothing to do with money. But become richer by printing money out of thin air is totally another thing, it is robbery

[qiwoman2]

They can't really do anything they're broke on money

Not anymore. They got more money coming in now, and they had to sacrifice some public land and add a lot of restrictions and regulations are supposed to be implemented in terms of the new bailout. They get more money now from the eurozone but this will happen very soon again, and I don't think its going to end nice for Greece, living like a parasite. I wonder how long will Eurozone have them around.

Greece is not the parasite here, other powers that be aka Northern European countries and the U.S have had their hand and control over Greece since 1821, only the Greeks were unaware of it..Even after the Greek Civil war there was so much brainwashing from the western powers to get the Greeks to do heavy imports and less exports that this screwed up the country along with some Greedy Rich Greek cronies and some even more corrupt and Greedy Government Officials.. The EU shut down Greece's light manufacturing industry along with cotton and silk farms and were lending money to the Greeks with high interest to import and buy German goods and cars.. The whole fractional reserve banking economic system is mainly at fault here and the millions of unsuspecting Greeks that were brainwashed and fell for this sh*t unfortunately now are in deep sh*t..

Do you blame Muslims for hating this Western so called civilization? I frankly don't blame them because for Muslims Interest on loans is forbidden..I like to read and understand things from all angles..A few greedy loan sharks in 14th century Venice created this lethal system of degenerative economics that has impoverished now 90 percent of the world's populations. People around the world have had enough and they are waking up to it.. We need to stop blaming each other though and start looking for viable and sustainable, resource based economic systems to save our planet and the people in it, of all creeds, colors and religions.. I am Greek and feel sad to be living in a time where no one should be going hungry ANYWHERE.. We should have become far more civilized by now..but I feel we have regressed the last few hundred years..  

[Amph]

Money must be spent to show its effect of control. With bitcoin you can only spend it once, then you give up that power of control to those who earned the coin. To get back those coins, you must work just like anyone else. But with endless money printing by central banks, that power of control stays forever

this is true, but usually those good manipulators/traders, aim at regaining the control over their previous money, and to have even more than before with a good trading strategy

and since some of them could be good traders, they can regain those coins easily enough and without losing "the power", pretty much like a government, also i doubt that they sell everything at once, those individuals suffer from the omnipotence syndrome, they like to dominate

it would not be naive to think that many early adopters are still there ruling the top 100 of bitcoin, and i believe that rich become richer can not be applied only for pos coin, pow is affected as well

People can become richer when their income is larger than expense, that has nothing to do with money. But become richer by printing money out of thin air is totally another thing, it is robbery

my point was that early adopters become richer without doing anything, very similar to the governments, and they can mantain their position endless until they decide to leave the "game"

[pereira4]

They can't really do anything they're broke on money

Not anymore. They got more money coming in now, and they had to sacrifice some public land and add a lot of restrictions and regulations are supposed to be implemented in terms of the new bailout. They get more money now from the eurozone but this will happen very soon again, and I don't think its going to end nice for Greece, living like a parasite. I wonder how long will Eurozone have them around.

This money is literally nothing. The 50 million they are getting along the rest of so called "benefits" are useless when your austerity program is way worse than any help they could provide. Greece is headed towards negative grow for a long time and I see no realistic solution.

[GreenStox]

Actually the greek central bank, the best thing they can do is to: dissolve themselves.

Yes folks, central banks led us into this mess, we dont need them to mess up the situation anymore.

[pureelite]

I don't really understand the organization structure of EMU. Does Greece central bank have the right to create euro? Who controls greece central bank? Why couldn't Greece central bank print some Euro to repay their IMF and ECB loan???

I think that the Greek central bank should relax and let your problems, because there are no more knotting about it, about how they should still early to think about those who have got into debt

[jt byte]

Something worse is coming. The banks allows only 60€ per day or 420€ at once per week to withdraw from ATM.
For most of them it is not enough.

[GreenStox]

Something worse is coming. The banks allows only 60€ per day or 420€ at once per week to withdraw from ATM.
For most of them it is not enough.

What did you thought that the rhetoric of the ECB is just solved it?

Folks the entire global banking system will collapse, greece is just the least of our problems.

Massive riots will be on the street, people will die and starve, it`s like the apocalypse is coming.


7 billion folks, but half of them live on welfare, WTF did you thought will happen if you take the welfare away from those?

[jt byte]

Guys what do you think should greece must be kicked out from eu or should stay there for a long time

[Amph]

Guys what do you think should greece must be kicked out from eu or should stay there for a long time

it should be kicked out already, there is no need to drag this farce again for another 3 years with another big waste of 80B loan from central bank that will not cover ever their 350B of debts, that are still rising

as i don't believe that the greece Gov will be able to reduce the debt of 270(350-80) in only 3 years

[g1974ak]

I don't really understand the organization structure of EMU. Does Greece central bank have the right to create euro? Who controls greece central bank? Why couldn't Greece central bank print some Euro to repay their IMF and ECB loan???

No the Greece Central Bank have no right to create euro. If this would be possible it will be easy to solve the problems of Greece. At least apparently. The euros can be created only by European Central bank. The Greece Central Bank are controlled by one Governor that normally can be Greek. He do the job of the Governor of one central bank but under the rights given by the European Central Bank. Greek Central Bank couldn't print euro because the central banks of every country in the EU have no rights to do this action.

[prodigy8]

The country became the epicenter of Europe’s debt crisis after Wall Street imploded in 2008. Now, it is struggling to pay its debt, and its people and creditors are growing restive.

[Gronthaing]

Guys what do you think should greece must be kicked out from eu or should stay there for a long time

it should be kicked out already, there is no need to drag this farce again for another 3 years with another big waste of 80B loan from central bank that will not cover ever their 350B of debts, that are still rising

as i don't believe that the greece Gov will be able to reduce the debt of 270(350-80) in only 3 years

How could they? The IMF and maybe everyone else by now admits the debt is unsustainable. That is the same as saying that whatever the greeks do they won't ever be able to pay back the full amount of the debt. What the greek government should have done these last few months was prepare to leave the euro and reintroduce the drachma by themselves.

[edric]

Guys what do you think should greece must be kicked out from eu or should stay there for a long time

it should be kicked out already, there is no need to drag this farce again for another 3 years with another big waste of 80B loan from central bank that will not cover ever their 350B of debts, that are still rising

as i don't believe that the greece Gov will be able to reduce the debt of 270(350-80) in only 3 years

Varoufakis said the Germans wanted to kick Greece out to make an example for any other country that thought they could write off their debts.  The Greek economy is doomed now and maybe that will be the ultimate outcome of the new economic measures.  Politically though it seems dangerous for Europe to lose Greece on multiple levels.

[thezerg]

Will it be a new face of anarchy?  Debt is not payable but can't be forgiven so the entire economy goes gray.  No money for any govt services (fire police roads etc) so all these services are privatized.

[AtheistAKASaneBrain]

They can't really do anything they're broke on money

Not anymore. They got more money coming in now, and they had to sacrifice some public land and add a lot of restrictions and regulations are supposed to be implemented in terms of the new bailout. They get more money now from the eurozone but this will happen very soon again, and I don't think its going to end nice for Greece, living like a parasite. I wonder how long will Eurozone have them around.

All the money they get is for nothing, it's going to get evaporated instantly to pay the debt.. it's nonsense. Both parties know the debt will never be paid. What do they have on mind to solve this situation? I have no idea at this point, only conjectures, which includes "politely" pushing Greece out of the Euro.