Wednesday, February 9, 2011

What happens when everyone borrows and can’t repay

Soaring debt pushes Portugal towards bail-out

"A leading investor said: “Portuguese debt costs are in danger of rising further and further as there are no buyers of the country’s debt.” The ECB has been the biggest buyer recently. "Portugal’s cost of borrowing hit a euro-era high on Wednesday amid growing concerns that Lisbon will have to turn to bail-out funds to revive its stagnating economy". Never mind - the banks will soon be lending out more cash to prop up the UK housing market.

Posted by alan @ 07:05 PM (959 views)
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One thought on “What happens when everyone borrows and can’t repay

  • The money is all bogus now, but the ramifications are all to real.

    If the world were to rid itself of debt, there would be no money left in circulation.

    When they create the money, they don’t create the interest on it’s borrowing.

    Now throw in fractional reserve banking for good measure.

    We are seeing the final death stages of this system and the alternative that we will

    be finally offered by these very same people as the solution will be even worse.

    Tin hats anyone?

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