tag:blogger.com,1999:blog-7530776363222965313.post1763164739548489188..comments2023-10-07T13:16:34.756+02:00Comments on Simon Thorpe's Ideas on the Economy: A way out of the ECB lending fiasco?Simon Thorpehttp://www.blogger.com/profile/02605233720415886802noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-7530776363222965313.post-18499456088403381082012-01-07T19:17:03.275+01:002012-01-07T19:17:03.275+01:00Oh, we've always had a way out. Supposedly it&...Oh, we've always had a way out. Supposedly it's governments who pass legislation ...Simon Thorpehttps://www.blogger.com/profile/02605233720415886802noreply@blogger.comtag:blogger.com,1999:blog-7530776363222965313.post-886199732855076882012-01-07T17:50:36.092+01:002012-01-07T17:50:36.092+01:00Thanks m3. Yes, Jefferson was absolutely right. Bu...Thanks m3. Yes, Jefferson was absolutely right. But right now, I do think that there is a way out. My Eureka posting from a couple of days ago makes me think that we now have a way out. The 99% have to demand that their governments use "publicly owned credit institutions" to borrow the unlimited amounts of ECB money that is on the table, and use it to pay off their debts to the markets completely. That way, they will be able to pay back money with the same interest rates that the banks are offered. The markets will no longer be in a position to blackmail governments, and the ratings agencies will lose their power.<br /><br />Cheers<br /><br />SimonSimon Thorpehttps://www.blogger.com/profile/02605233720415886802noreply@blogger.com