Bingo!

It all depends upon whether those private bondholder's who hold Greek bonds written under English Law will agree to take a 75% net loss. It also depends upon the EFSF raising on the order of 130 Billion Euro, and whether the countries funding the EFSF will agree to do so. Finally, it all depends upon whether the Greek people are going to stand for a further cut in their standard of living in order to keep the banks solvent. Judging by what they did to downtown Athens last week, I am highly doubtful.


If the American People allow private banks to control the issuance of their currency, first by inflation, then by deflation, the banks..., will deprive the People of all their Property,...Thomas Jefferson