“To the great people of Egypt, your armed forces, acknowledging the legitimate rights of the people… have not and will not use force against the Egyptian people.”
Gorilla says: “And it’s goodbye from him!”
Nearly a billion dollars on the line, relatively peanuts money in comparison to the hundreds of billions we’ve wasted their already, but not exactly a shining example of nation building in a country that still isn’t really a nation.
Gorilla says: “Next up: a hedge fund for opium!”
Changing the payback period for Greece and Ireland from 3 to 30 years: the newest gambit on offer from the Germans!
It’s all about bailing out German banks, and avoiding the far larger nightmare of contagion spreading to Spain…
And it won’t work, because the price Club Med will pay for all this crippling debt is years of grinding deflation and high unemployment. Ultimately, it would be far better for Greece and the others who are in trouble to default, leave the eurozone, and devalue. But that won’t save the Germans, French, and Dutch, or their bankers, so extend and pretend goes on.
Gorilla says: “It’s not a Hail Mary, but it is a pass!!!”