I would hereby like to request an opportunity to write a guest post on your site, of course free of charge. You can send me your preferred topic, if any, and I would be happy to write an article on it. I can show you some of my past work that have attracted good number of visitors.

Anyways, you are doing a great job on with your blog and I’d like to talk to you in person, so I’d be happy if you could answer either way!

Sincerely,
Robert Christopher

pretty nonsense post there, if I understood you correctly .

No dealer knowingly buys above the market price.

However the ECB has been taking as surety many dubious pieces of Paper

In my opinion, the best options are coming from a school of economic thinking (broadly post-Keynesian) known as MMT (Modern Monetary Theory). A good resource list a academics blogs & others is here:

http://dollarmonopoly.blogspot.com/p/resources_10.html

Whilst not specifically mentioning MMT, this well worked proposal, incorporates MMT principles with a full reserve banking system.

http://www.positivemoney.org.uk/wp-content/uploads/2010/11/NEF-Southampton-Positive-Money-ICB-Submission.pdf

Obviously, the eurozone could also adopt such a system, but would involve far more complexity in co-ordinating fiscal policy across widely divergent economies. Not impossible, but difficult.

But if the eurozone shows no sign of dealing with a rogue banking system & introducing real reform (& soon, before our economies are decimated further), regardless of the difficulties in transition, any peripheral state in the situation of the 'PIGS' would be massively better off, medium & long term, in adopting reforms like those of positivemoney.org (and collaborators).

The problem across the US, Europe, UK & other jurisdictions has been the massive creation of a debt bubbble by the banks. Banks have the privilege gifted to them of creating all the money as debt, and they have completely abused this system to enrich themselves & wealthy elites. Indeed, Professor William Black has accused, on numerous occasions, publicly, the major US banks of systematic, illegal, fraud. (Prof Black was a US financial regulator at the time of the US 'Savings & Loan' scandal, & was instrumental in many bank executives being sent to jail.)

Much of what the banks have done, if not legally fraud, should be made so.

It is important to understand that much of the debt (money creation) was for unproductive purposes in the 'real' economy & socially useless. It was for speculative bubble creation (property) & gambling on financial 'markets'. The real economy has had little benefit from this & has hence has not been able to keep pace sufficiently to continue to service such debt (pay interest), let alone make repayments. This is the core reason that such debt was not sustainable, & would inevitably crash the economy. Economist Steve Keen developed the accounting methods in the 90s to predict a crash, & did so some years in advance. But he was studiously ignored.

It is hard to imagine that such immense irresponsibility was not at the higher levels, in fact, deliberate. The banks' executives & much of the financial sector stand to make as much profit when the bubble burst as they did in creating it in the first place. They are endeavouring to do this regardless of costs and suffering to ordinary citizens &, incredibly, over many years, have 'captured' most politicians, their advisers, media & the mainstream economics profession & academe. The near complete capture of the latter is extraordinary. The very basic assumptions of the neo-liberal, neo-classical economics taught in universities over decades are demonstrably false. (For proof read Prof Steve Keen's work, & others.)

Not only that, but the analytical methods that would have signalled in advance the growth of a 'bubble' have been asiduously, likely deliberately ignored. And remain so today, 4 yrs after the crash, by mainstream economics. This is intellectual bankruptcy & incompetence of the highest order. But, of course, banks & the financial sector are the dominant employers of economists, either directly or thru' consultancy.

Another, even more important free 'gift' to banks is to give them the monopoly to create government funds, when tax income falls short, as interest bearing debt also. Any government of a sovereign currency can create its own money entirely free of debt. It's solely an ideological (or bank influenced) decision not to do this. The euro central bank authority could also create its own money, but, perhaps again deliberately, has no mechanisms or procedures for eurozone governments to co-ordinate this in a proper fashion.

On top of all this, the banks also ensured that the entire system of bank debt is so interlinked with debt derivatives & insurance, that none of the larger banks can suffer primary debt losses without risking complete collapse. The real economy of ordinary citizens & production of real goods & services has in this way been held to ransom. Forced to pay the losses of the banks' gambling. And forced to borrow to do this from the same banking system! It's hard to see this as an 'accident' either.

These are the Greek lawyers that Max Keiser had contact with, possibly people who it might be useful for Maria to talk to ?

from stopspeculators.gr