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|User Info||More "Tanks In The Streets" Threats: Greece; entered at 2011-06-28 10:05:18|
OK, so Greek tax (and non tax) payers and Greek FSA are participants in a PONZI scheme with Madoff/German/US Bankers running the casino. Default or not, the
Greek tax payers and Greek FSA are still expecting the skittles.
Which brings us to the US, with the debt default avoidance strategy of the FRB, the US is in the same Ponzi scheme. That 10 Trillion in US mortgage debt is not bona fide mortgage debt, some large fraction is Ponzi, say 5 Trillion.
US mortgage debtors are part of the same FSA as US entitlement beneficiaries and wall street and beltway bandits.
When a larger and larger fraction of the US economy is Ponzi supported by a Ponzi US federal debt expansion, when does Joe six pack start feeling the hangover?