Yanis Varoufakis, "All Europeans are Seeing the Collapse Coming" (12/09/11)

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It's d-day for the eurozone! But is it crisis on or crisis averted?
Most EU members sign on for more fiscal unity -- analysis ranges from success to total failure. And does anything on the table really get to the core of the problem? Well, for one thing, the UK is forgoing the deal and Cameron's close but not so friendly encounter
with Sarkozy may show why...And countries and banks are preparing for the collateral damage of a collapse of the euro. Contingency plans see countries like Ireland evaluating the need for additional printing presses. The swiss government is studying capital
controls in case of a tidal wave of money come from savings in the periphery looking for safety in the core. And as pundits, economists, and analysts size up the crisis and solution, the global and market and personal impact from this side of the atlantic...we
get the view from one of the countries most stricken -- we'll speak to greek economist Yanis Varoufakis in Athens about all of this. He is author of the book Global Minotaur, and proponent of the "modest proposal" a solution for overcoming the Eurozone crisis.
At the end of our program, Lauren responds to our audience during our "viewer feedback" segment of the show.

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[angryamerican]

Smart, funny, and beautiful.

WILL YOU MARRY ME LAUREN?

:)

[Knut34]

Yanis Varoufakis is a socialist.

[erdal0]

I want to be in her vag... sorry.

[MrFmmcosta]

@frmkt

you are incorrect. THIS fiat system is debt based. a fiat system isn't necessarily a debt based system. This is a debt system because money is borrowed into circulation and not because of fiat money.

[MrFmmcosta]

@frmkt

my question was, what will the free market, with no government, do if someone steals from you? Government is needed, not BIG government.

[frmkt]

@MrFmmcosta

The fiat currency system is a DEBT based system which is why all fiat systems in the past have failed. We're all taught that leverage is good. Governments are leveraged to the point of unsustainability. It's all about the debt and being in debt causes the proverbial "kicking the can down the road" until there's no more road left. Eventually, the "piper will get paid."

[frmkt]

@MrFmmcosta

a free market does not ignore laws of murder and theft. in a free market, if a company gains a reputation of not providing the goods & services it boasts to offer, then that entity will quickly cease to exist as a business because it will lose it's customer base which has an exponetial effect due to the loss of referrals and repeat business. Anarchy is hardly a concern in a free market.

[frmkt]

Cause & Effect: as usual, more emphasis is on the effect, rather than the cause. Here's the "skinny:" we are witnessing the vainful attempt to salvage a rapidly imploding, destruction and failure of the global fiat currency by central banks and governments around the world and why? Well, it's a huge money maker for the banks and governments retain the ability to gain power, strength and control over their respective citizens. This is what happens when you intervene into a free market.