Obama wants Europe to manufacture no-repayable money to help Greece because, if this is so, Bernarke can accelerate its fabrications of dollars without being noticed. I think that there is a massive devaluation of currencies coming. The purchasing power of households and productive companies are moving to failed countries and irresponsible financial institutions. All of this happens now without the need to make laws or create new taxes. It is a on-going full-scale theft. But, because all countries do with their currencies, the effect is that the relative currency exchange does not change much.
As this new money is being used to fill holes that where created with the collapse of housing prices in the banks (but the holes in the households and businesses have been left aside). this freshmoney has not entered the market and does not generate much domestic inflation. But sooner or later come out and display the huge loss of purchasing power via hyperinflation.
The final effect is a massive withdrawal of wealth from the productive economy into intervened unproductive sectors in the hands of bureaucracies. This is something that even Alex Jones would have dared to imagine. The natural consequence will be an increase of socialism, condemned, once more, to failure in the middle term. There is nothing unknown here for a survivor of the previous Great Crisis.
The resulting turmoil can not be good for the stability of the democratic regimes. There is no perspective of classical war in the early XX century after-crisis style. That war will not occur because the loyalties of politicians and bankers are class oriented, not nationally oriented; In the global age, bankers or politicians have more ties to colleges of other countries than with his fellow citizens. Specially if they are on the left. Whathever they do will be for the perpetuation of themselves, and war is not in their interests. The proof is that now there is no competitive devaluation of currencies, but a coordination to inflate the currencies, except for some temporary disagreements.
Instead of war I see calls for an accelerated globalism. And the claims for more centralized economic power in Europe is the beginning. Apart from the financial dictatorship, we already have, this trend must have no other end than a dictatorship. This is very good for the multicultural elite in its efforts in the obliteration of national democracies.
Right now I think that Greece is not rescued for economic reasons, but for political ones. It is for the continuation of the globalist agenda of the global elite. Whenever the withdrawal of power or money to the central EU institution where consulted to the citizens, they have said no. This never stopped the politicians. The latest move has been in the German parliament, which has voted for the increase of the un-repayable rescue package for Greece, against public German opinion. Global elites instincts know that having a mechanism for the international redistribution of wealt in a socialist-populist EU with grateful beggars in the South is the best for its interests.
If the evolution of the current crisis is parallel to that of 29's, the perspective is for civil wars instead of wars between nations. Don´t discard the worst.