Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[RD965]

Greece has to hit the big red RESET button because all the rest are pussies and don't have the balls to call an end to that which is inevitable anyway, and only made worse by delaying. Keynesian economics is fundamentally broken, that much is known, the long run has arrived, for the love of Zeus, hit the button already, let the chips fall where they may.

Keynesian economics implies government spending at the base of the economy, not making debts.  The spending can be financed by taxes, even inflation tax.  Borrowing from banks and later bailing them out are the opposite of Keynesian policies.  It is usually neocon/monetarist governments who build up unpayable national debts, hold the bank profits to be more sacred than salaries and pensions, and make banks richer by imposing "austerity" on the rest of the population.

Unfortunately we do not follow keynesian principles. National debts are in fact, unpayable, and will still be

Banks need to redefine financial business methods, meanwhile they need to be rescued since it can be the fall of the sector

[qwk]

It is usually neocon/monetarist governments who build up unpayable national debts

Not that I disagree, but I'd like to point out that in fact, all national debts are, in practice, unpayable.
To prove my point: could anyone name a single country that successfully paid their national debt?

(I guess that if you do extensive research, you might find small countries that were able to do so, most probably because of singular events like the finding of natural resources or becoming tax havens for others, but I doubt that you'll be able to find larger economies that were able to pay up)

If anything, it's usually considered a success when countries are able to reduce their debt in comparison to their GDP. Which is usually not done by actually settling the bills, but by growing the GDP and inflating the money supply. The absolute amount of debt usually stays the same or even rises.

[NotLambchop]

It is usually neocon/monetarist governments who build up unpayable national debts

Not that I disagree, but I'd like to point out that in fact, all national debts are, in practice, unpayable.
To prove my point: could anyone name a single country that successfully paid their national debt?
...

http://en.wikipedia.org/wiki/List_of_countries_by_external_debt

Good morning, gentlemen.

[Miz4r]

greece happens to be on the thin end of the wedge for the mathematically inevitable collapse of a credit cycle based on compounding interest ... last time around it was Weimar Germany.

Greece has to hit the big red RESET button because all the rest are pussies and don't have the balls to call an end to that which is inevitable anyway, and only made worse by delaying. Keynesian economics is fundamentally broken, that much is known, the long run has arrived, for the love of Zeus, hit the button already, let the chips fall where they may.

I agree we need a big reset on this disaster of a financial system, but an uncontrollable collapse might not be what you want. I would prefer a slow collapse, one where we allow the financial sector to deleverage and deflate to normal proportions and transition to a sustainable economy based on real productivity and value not on useless middlemen doing nothing productive sucking all the wealth out of everyone else.

[Morecoin Freeman]

Ugh sideways for the entire day... Need some action.

[ChartBuddy]

Coin
Explanation

[qwk]

It is usually neocon/monetarist governments who build up unpayable national debts

Not that I disagree, but I'd like to point out that in fact, all national debts are, in practice, unpayable.
To prove my point: could anyone name a single country that successfully paid their national debt?
...

http://en.wikipedia.org/wiki/List_of_countries_by_external_debt

Countries with zero debt:
Singapore
Macau
British Virgin Islands
Brunei
Liechtenstein
Taiwan
Palau

Taiwan is actually the only one I wouldn't have counted on.
I'll take that as the exemption which proves the point.

[JorgeStolfi]

It is usually neocon/monetarist governments who build up unpayable national debts

Not that I disagree, but I'd like to point out that in fact, all national debts are, in practice, unpayable.
To prove my point: could anyone name a single country that successfully paid their national debt?
...

http://en.wikipedia.org/wiki/List_of_countries_by_external_debt

Countries with zero debt:
Singapore
Macau
British Virgin Islands
Brunei
Liechtenstein
Taiwan
Palau

Taiwan is actually the only one I wouldn't have counted on.
I'll take that as the exemption which proves the point.

But, as noted above the table, some countries are also international creditors, and they may have negative net debt.

The note claims that Italy is one such country.  That would be cruel, because it would means that Italian taxpayers have to skip lunch to pay interest to foreign banks, and non-Italians have to sell their grandmas to pay interest to Italian banks; whereas they could do what the French once did and get done with it.  

[qwk]

It is usually neocon/monetarist governments who build up unpayable national debts

Not that I disagree, but I'd like to point out that in fact, all national debts are, in practice, unpayable.
To prove my point: could anyone name a single country that successfully paid their national debt?
...

http://en.wikipedia.org/wiki/List_of_countries_by_external_debt

Countries with zero debt:
Singapore
Macau
British Virgin Islands
Brunei
Liechtenstein
Taiwan
Palau

But, as noted above the table, some countries are also international creditors, and they may have negative net debt.

For example, Norway, Luxembourg, Switzerland, Italy and others are net international creditors

Again, Norway, Luxembourg and Switzerland fit into the category of smallish economies with either natural resources or being tax havens.
Italy and possibly other countries with negative net debt can still be doubted to ever be able to actually pay up. That would require collecting the credit they have given in the first place. To countries like e.g. Greece

[abyrnes81]

I'm still waiting the 450 $ dollars.

[ChartBuddy]

Coin
Explanation

[slowmo1983]

it`s breaking to the upside 

[soullyG]

If it breaks through ~$225 we should see a nice short squeeze

[Paashaas]

I think that most ppl always overestimate the change that will occur in the next few years and underestimate the change that will occur in the next ten.

Yup. 

Fixed the time frame.

I agree with this one, thx man.

[aztecminer]

don't take it personally it's just business .

Take what personally?

that I am going to try to make a profit from the greek thing.

[aztecminer]

Greece comes down to one thing.

In 2005 their debt/GDP ratio went over 100%, within 4 years their economy was in a freefall. By 2010 they got bailed out by the EU but the debt/GDP is still over 100%. Not much you can do until that is fixed (or they go bankrupt which is more likely).


Btw...the US debt/GDP ration went over 100% this year...

well it can't be obama's fault!

[NotLambchop]

I think that most ppl always overestimate the change that will occur in the next few years and underestimate the change that will occur in the next ten.

Yup.  

Fixed the time frame.

I agree with this one, thx man.

Both of you misread me.  I said Bitcoin, not BTCeanie BTCabies.
Yeah, the BTCeanie BTCabies thing is still on the launchpad & is going to explode (err... you know what I mean) as soon as we shake out the weak hands and shake down the get-rich-quick kids (good riddance!) -- agree 200%.

In the mean time, I couldn't care less about BTCeanie prices--I'm in this for the long haul

[ChartBuddy]

Coin
Explanation

[madmat]

This thread is dead. We need some action. Please price, move !!!!

[redsn0w]

This thread is dead. We need some action. Please price, move !!!!

Maybe ask for a pump and prepare 340-400 mln of dollars , and the price will "move"  // Sarcasm.