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Former U.S. Ambassador to the UN John Bolton and Kiss’s Gene Simmons discuss the state of the EU.
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Danger -- let me bring in former US ambassador to the United Nations John Bolton ambassador Bolton joins us now live from Chicago.
Let me first of bold before getting there Israel -- -- 67 borders fat and Gene Simmons is when is as you know ambassador -- wanna ask you about Europe Greece in particular.
Looks like they're gonna get a bailout does that help or -- -- in America.
Well I think it hurts us but remember they're only gonna get a partial bail out here and very reluctantly and the underlying problems Greece has of overspending.
Vastly inflated governmental sector.
Are not really going to be -- -- and Greece is not the only problem as we've discussed before you've got Spain and Portugal Italy and Ireland.
Perhaps others as well let's also not forget all those German banks that own all that Greek and Portuguese and Spanish debt.
So the fundamental contradictions that Greece has are not going to be resolved in the fundamental problems of the Euro are not going to be resolved either we just kick the can down the road the Greeks go -- -- they default at some point in the future just not now -- that it.
I don't I don't see how they get around I don't think they can repaid this debt they're gonna have to -- that's a default the issue for the United States right now right now is two -- number one do we help out through the IMF and I don't think we should because I think the Euro.
It's fundamentally a political.
Cause lessen economic cause from the US point of view and number two what lessons do we derive.
From the Greek experience.
For our own circumstances right now we haven't derive the right lessons.
Greece should be allowed to default if your student of history.
You will be we'll take notice of the fact that over the last hundred years they've defaulted close to ten times.
Let them default.
Let the Euro try to stand up on its own England wisely in retrospect hindsight it's 120 saw that the pound should not become your role -- And by the way in retrospect they made the right decision there's chaos in Europe.
Because it's it's become a welfare -- and trying to uphold banks that don't have the due diligence to make sure their populace.
It's becoming -- money laundering haven go to Greece it's chaos over there because the population doesn't it wants to stop working at 54 united Arab riots on the -- because they don't wanna.
You know retire at sixty it's nonsense ambassador Jean Simmons -- let it go bankrupt and you say.
Now I think that's got to be the way it happens otherwise you're not gonna have.
The event that brings people to their senses and and I think that's a good point for us here as well.
What the Obama administration is doing is as an alternative Greece doesn't have it is systematically.
Depreciating the dollar allowing it to the value.
That that's why the Euro can rise no no sane person would buy euros against the dollar except they see the same thing happening.
To us with a massive potential for inflation that we've got out there they the administration doesn't seem to be concerned about.
But ambassador to -- point earlier we've become this this world of handouts there's not enough votes out there to allow Greece to go down.
There will be if someone will make a case to save this country because.
Of the destruction of Europe in general and Greece will be saved and then the -- this continues to be passed on.
It's just the Europeans want to bail Greece out then I say let him go ahead and do it the the leverage that we have at this point it seems to me is to.
Prevent the IMF from continuing to come.
To Greece's aid and I think that's very important especially given we've got a contest here for Director General of the IMF for the US could have a very may.
Your voice I believe by the way the IMF -- -- huge mistake in not allowing.
Fisher yes let's have a vision Israeli bank system to go in there even -- there was a two year difference.
In the quote retirement age 67 and bad it is not insane yet let the man do -- -- Trained to do which is around the IMF like a business instead of the -- political entity.
Ambassador -- I know you've been thinking about running for the presidency may I suggest that the small and you just found yourself a running mate we've Gene Simmons.
Yes I think I think the ambassador is a powerful and attractive man and I would be honored sir.
-- I've gotten out there we go I've -- yeah undersecretary go out and if that's it.
I'm basketball and interesting stuff thanks for joining us -- -- so I appreciate thank you.
-- wanna continue this just for 12.
I look jump on the Internet so you -- 300 million dollars veteran of the Internet is rife with rumors are.
That's not -- question that you Branson -- the first question is who wants to know.
You know one of the wonderful current financial program will we ask everybody -- you don't have to as all -- -- -- unless you're Republicans have been instances you have to answer to your constituency.
And that's a big word like gymnasiums to.
After -- him are you with thrifty.
I am the cheapest SOB you -- -- you see any blowing on me excellent idea.
I believe in the end of the tried and true method of over of the great generation that existed right after the 29 crash.
If you have food and your belly and I house to live -- you have everything you could ever imagine and Shannon.
The dear lady who I worshipped the ground she walks on who have been with for 28 years gets to hear this nonsense every day we have two wonderful children.
They've never had a single penny given to them after earned it -- America you're blessed if you have a job there's nothing for free.
I'm against giving charity I really am although -- a very travel person.
I'm for giving jobs don't give them fish.
Teach them how to fish they'll never have to say thank you they'll have the dignity to stand up by themselves and pick -- -- -- America needs to learn that lesson.
And if you go to Gene Simmons dot com you'll see what I when I open of the New York Stock Exchange right -- the -- -- and Fox Business was there and ask me what the what the answer is in my -- invest in America the Dow was at 8000 I made a big fortune it's now 121000.
You know you've got another fourteen minutes witness has plenty of time to give that number out what I have to say -- importance to get to the public figure than they do -- -- we've -- -- a floor and Roger -- was watching so you know and you're gonna be the vice presidential running -- for candidate balls and I feel like I've already the king of the world in my mind -- -- let.
