YANIS VAROUFAKIS: THE STRAW THAT BREAKS THE PONZI’S BACK?
What do you do when your opponent won’t play by the rules? Worse, what do you do when your loan ‘partner’ (aka ‘debtor’) declares Calvinball, where the only rule is there are no rules, and proceeds to go off the deep end? The result, to put it mildly, is utter chaos, at least for those who expect the (self serving) rules to be adhered to. After all, the central bankers’ henchmen admonish, we’re all civilized here. So come back to the table and play nice. “Do it for the kids,” they plead – the epitome of hypocrisy since their stacked deck and tilted playing field does precisely the opposite.
There is an old and familiar saying in the financial world, no doubt a product of game theory brinkmanship, which speaks to the role reversal of power and leverage once the monster debtor owes such an astronomical amount they can no longer pay to service the note, let alone chip away at the principal. The supposedly weak suddenly inherit the Earth, or at least they wield a very long lever along with a fulcrum with which to move the central banker’s world.
It is most likely a safe bet to say those reading this article clearly see the unsustainability of the present day economic system. The vicious cycle of debt requiring ever more debt just to tread water leads nowhere else but into the abyss of inexorable socioeconomic crumble, if not all out chaos and collapse. At the very least we are facing war; the only real question is will it be worldwide and involve a nuclear exchange.
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