Quote from: electerium on May 03, 2015, 05:48:22 AM

I think you're dead wrong here.

The consequences of defaulting are literally haunting. If you think the world debt load looks bad and is a runaway freight train, the end game results of defaulting are literally worse.

They will have no currency that will be accepted by the surrounding european countries = no trade, no export, no import
They will have no natural resources = no commodity trades, they will already have to sell whatever commodities they have at a bigger loss (think iran selling oil to china while oil plummets in value)
They will be completely cut off from the international banking system = no ability to internationally transact

I mean, those things start the exact second they declare a default.

Who knows what punishments ensue, because they wont be allowed back into the international banking system.

Defaulting might bring structural changes that are desperately needed, but it could (likely) also send them bank into the medieval times for 10-15 years. A complete generation of people will have suffered because of it. And by suffering, I mean people literally dying in the streets from starvation.

The trick is that while their government wont hold EUROs, the citizens will. And it will create this fascinating micro economy where the Greek government begins issuing a new currency, which no one will prefer, while everyone backroom deals in Euro.

If you thought it was difficult to raise revenue through proper tax enforcment now, think about what happens post default. It will be even worse.

(for the record, the most practical decision is clearly to default. you preserve your sovereignty, but you lose a lot of lives in the process)

I`m not sure that defaulting would be that bad, the only ones that would lose are the banksters.

Well look, we all got the properties, and we all good the hard-goods, we can just continue everything, except without the banksters.

Of course seized property, from not paying mortgage has to stop obviously, instead if the banksters could be stripped from their illegitimally gained property, and then we reset the game, it could actually work.

The only thing we could lose in a default is our shackles from the global debt ponzi scheme

Then rebuild the world, without governments and central banks, based on voluntary transactions and freedom.

Of course if riots break out, because of the shock, that could cause alot of harm, but generally speaking it would not be that bad.