The EU came one step closer to the financial abyss today with highly sensitive reports that the Nation of Greece , unable to placate tax dodging civilians, unsustainable pensions and perks for government workers was going to take the easy way out and just walk away from their debts.
Insiders say the government is contemplating printing their own currency, an act which if it comes to fruition will lay waste, not only to its own country, but the member nations in the EU.
George Soros, the international banker, hedge fund manipulator and proponent of a 'new world order' is stepping up his apocalypse agenda; he bailed from his massive silver holdings this week creating a tsunami in the international commodities market, and is now said to be escalating his attacks on the most financially fragile countries in the EU guaranteed to create an even bigger global monetary banking crisis.
Experts say if Greece prints it's own money, the value will be 50% of the Euro, making each and every one of it's banks INSOLVENT.
Financial experts in the US administration were not so gloomy, " Print, baby, Print' said Treasury Secretary Tom Geithner, still not fully recovered from a Cinco Del Mayo celebration, "don't mean nothin'....when you start wipin' your arse with Benjamin's, then you know you're in trouble!"
The European Central Bank, (ECB), located in Frankfurt, is on the hook for 27% of $58B in bonds. The rest of the EU has already laid out $78.5B in loans to the Olive Oil country, and looks like they could be stuck with just the pits when Greece declares bankruptcy and defaults on ALL its obligations.
Insiders say if that happens, Portugal, Spain, and Ireland won't be far behind and capital markets and sources of money for new investments will dry up overnight with the threat that one can just agree to wipe out business and sovereign debts with the stroke of a pen, much like Obama did when he took over General Motors and left hundreds of thousands of investors, bond holders and suppliers out in the cold by wiping out their claims.
Meanwhile, on the beaches of Greece, Anarchists were celebrating with Ouzo , fig kabobs and ceremonial dances in honour of their life style Hero, Zorba. (ed. note: think a 70 year old Charlie Sheen)
"The rich must pay,' said one reveler identified only as Teddy the Greek, "Viva Zorba....
let those Bastards ab-Zorba our debts...we'll just start over in the morning after we sleep this off! "
Looking off into the distance at the burning cars and buildings his eyes got dreamy, and if in a trance he became Zorba saying:
" Hey boss, did you ever see a more splendiferous crash? "