I don’t really get all this talk about Trillions of whatever being owed.
What a pointless quantity that is as there isn’t enough REAL physical money to go round anyway.
Take the UK.
According to the 2014 BOE annual report, there are 60,198 million pounds worth of notes in circulation. The population of the UK is around 70 million
So if everyone walked into the banks tomorrow and tried to draw out just £1 each here isn’t enough money to go around.
The banks would be ordered to close by the government to prevent a total collapse of the UK banking system and the result of that would be financial meltdown of the GBP with the world happily declaring the UK has gone broke and the GBP is therefore worthless.
Thus you’ve got to see the stupidity about the money men talking about owing trillions haven’t you. The amount of money they say is owed simply doesn’t exist!
So if Greece did leave Europe tomorrow and say “sod you were not paying you back”!
The only thing that happens is a computer or two would go pop and bankers bonuses will drop to mere millions.
As for Greece?
They could just print out the old Drachma notes again and start from scratch.
Their currency initially only having worth within its own country.
How would they buy things?
Everything would be revalued against the new standard i.e. the Drachma.
As for everything else, it’s simple.
The world needs to sell stuff to them to keep the illusion going that their stuff has a value.
Thus they would have to trade in Drachma’s.
As for product Greece made for sale?
You’d probably have to pay for it in Drachma’s which you would buy from the Greek government.
Both of these actions imparting a global “worth” to this rekindled currency.
Would the Greek people suffer. Probably.
Would Europe suffer? The money men wouldn’t but the people will.
Because the money lenders would steal everyone’s hard-earned cash to make up the illusionary losses. All sanctioned by the European governments scared stiff to let the money myth die.
Is there a precedent for doing this?
Sure, Cyprus, where the government simple stole everyone’s money.
That’s also why I got really peed off that the banks in the UK were bailed out in 2007-8 as opposed to just letting them collapse and rebuilt again PROPERLY.
The recession would have ended up being VERY SHORT LIVED as opposed to the long slow lingering death the people are enduring today.
Ultimately money isn’t real (until I have to pay for something that is).
It’s just a simple government con trick to keep the people in slavery.