From Joseph Y. Calhoun, “Greece Calls Europe’s Bluff,” at davidstockmanscontracorner.com:
Personally, I think Europe would be better off getting what they can from Greece and letting them go. I suspect Greeks would quickly regret going back to the Drachma with no credit line to fall back on. But I also think that is unlikely and the message it sends is that it is the debtors who are in the driver’s seat not the creditors. That is a dangerous realization in a world awash in debt.
http://davidstockmanscontracorner.com/greece-calls-europes-bluff/
Bingo, Calhoun has revealed the truth underlying the Greek vote. It’s the old story: if you borrow $1,000 the bank owns you, borrow $1,000,000 and you own the bank. One simple referendum has served notice on the world’s empire builders that their empires rest on foundations of debt and taxes, and all that is necessary for those empires to crumble is for those who ultimately must pay the debt and taxes to say Oxi, or No. That is indeed a dangerous realization, and the empire builders will work assiduously to keep it from being grasped by their debt and tax serfs.
