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"Deny All Rumors" Is Almunia Lying About No Greek Bailout?
European Union Economic and Monetary Affairs Commissioner Joaquin Almunia speaks to Bloomberg, and says "Greece will not default. In the
euro area, default does not exist. There is no bailout problems." Too bad crooked budgets and associated deficits can not be funded with hopes, dreams and bureaucratic pragmatism.
Almunia snaps and asks the reporter not to create rumors about bailouts. Too late - at this point the rumor is that Greece will not be in need of saving, presumably as soon as next week. "We have no Plan B - Plan A is on the the table, it is fiscal adjustment." Yeah, cause that worked so well the last few years Greece was feeding the EU budgets that only now are becoming obvious were complete shams. Almunia also points out the recent bond issue - too bad those who bought these are already looking at a substantial capital loss in less than a few days.
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Dance!
Either he's lying, or they just introduced moral hazard at the planetary level.
Good luck with that one.
How about this? He's not lying therefore
moral hazard remains contained on your planet
the one discovered a few weeks back.
Do they have luck on your planet? Something tells me your going to need it.
Strange things are a happening, on the planetary level that is, maybe these guys know about whats going on around the Sun. On Jan 3, 2010 a "comet/object" approached the Sun and is believed to be in orbit now, link here;
http://www.youtube.com/watch?v=sLbOOThs_hU&feature=related
Then on Jan 18, 2010, objects began showing up on NASA's Stereo EUVI images, here;
http://www.youtube.com/watch?v=8POHkMQg0Dw
NASA EUVI link;
http://stereo-ssc.nascom.nasa.gov/browse/2010/01/29/
That's the system they are creating. The I'm right system. You see even if they are wrong they get to be right because of the kill loophole. They are wrong their system doesn't work but after this depression and failures proves them wrong they get to start world war III and kill people until everyone who won't let them be right is gone. It's a wonderful system. They pretend you are always learning because well they are always right so you have to be the one learning something. But really you are just learning that everybody in authority, everybody who's thoughts are widely heard and disseminated go to create and maintain this "I'm right" system of government. The banks will destroy their currencies. This is wrong. People will see it's wrong and run to gold letting this be wrong. But once it's wrong enough to put them into inferior position of being wrong they get to suddenly change the laws and rules and games to become right once again. Being wrong and inferior means they have something to learn and should probably change or adapt themselves to reality but since they are so superior to everyone that can't possibly be the answer. So since you are in authority and have control over laws and stuff you simply change the rules and laws to become right again and kill anyone who won't let you be right. They get another exploit as well. The I'll never change facist exploit. This makes them immortal from a personality perspective. They get to be superior, immutable, and the source of all life (money) and the source of all connection as well as the source of nearly all creation. If we don't want the world to contain what this person wants it to contain or have what this person thinks it should have they simply don't get enough money to have it.
So what do they support. You simply look at what is most abundant on this world. They obviously support gang violence. Everybody has an army, drug cartels, mobs. They support violent death weapons development. There's always money for weapons and force and enforcement. But they also support non lethal weapons in a huge way. By touting this as being humane it is really the most insanely inhuman thing a person could do. Because they are going to use non-lethal weapons to enforce you living in inferiority. It's important to have plenty of people in prisons and subject them to gang and racial violence to survive. Because after you shiv someone to death 18 times because you didn't want them to stick your lunch up your ass this teaches you that it's ok to use any amount of force necessary to be right and only the most forceful get to be right. At first the prison system might seem stupid and have no purpose but it is engineering the future societies. Authority wants to be violent and manipulative and really doesn't want to feel bad about it or out of place or acceptable. So somehow harmless differences are subjected to the same abuse and unacceptance that very harmful things tend to be subjected to. You're bleeding to death in a ditch because of black skin or homosexualty or belief in the unacceptable religion because authority wants to kill maim and destroy people who won't accept that it's ok to run a global diet pill scam and leave everyone with damaged livers dying in a house without any food and medicine. Or you're imprisoned and cut off from your family for political dissidence because saddamn hussein was fed the names of every political dissident who he then murdered one by one or two by two or however it numerically worked out at that day and then when he wouldn't do what he was told he was forced to live in a little hole for month while the same people who enabled his cruelty and abuse come over and dragged him out of it and made a fuss over him.
The world is wrong, it seeks the tools and systems and events and influence to allow it to continue to be wrong at all times no matter what. It has no will to change and wishes to leave you with only one simple answer. Just accept it. It fears the the most sane and logical answer to it's mindless determination. Quitting leaving and not returning. Give authority exactly what it doesn't want you to give it. The last ultimatum.
http://www.youtube.com/watch?v=f0UALkqY8xY
no plan B- so . . .when shit goes down- it will really go down-
I like that
stalwart is what he is going for. he is a man's man. a real john wayne type.
OT: when you can, I would like to know how many profitable trading days Goldman Sachs had in these past 2 weeks.
Was thinking the same.
14 in the last two weeks; 31 in the last month. If GS loses, who would win?
OT: when you can, I would like to know how many profitable trading days Goldman Sachs had in these past 2 weeks.
15 :>)"Greece will not default. In the euro area, default does not exist. There is no bailout problems."
The Emperor has no clothes, no house, no money, and he just dropped a dookie in front of everyone. Just trying to redefine "dead" a la the Dead Parrot sketch. Parenthetically he's screaming "DON'T LOOK! IT'LL MELT IF YOU LOOK!!!"
I wouldn't touch any govt bonds. Well, maybe Tahiti's.
I once touched Tahiti's bonds...
They are SPECTACULAR!
are they real?
I'll bet his CV against yours makes you qualified to clean his office at night. Your discerning assessment of the market clearly means you aren't making money. Time to update the CV. Think of all the money made this week by people
who simultaneously bought the bonds and sold CDS against it as a hedge. While cash mkt held its own the CDS traded on every
rumor out of Davos. I tell you those alleged morons out there had a great week trading. Did you shoot par on the investor golf couse this week? Or did you bogie every hole?
"Shut up woman, let me finish!" If I had a silver coin for every time these oligarchs did not listen to journalists, especially women, I would be rich. "No rumers!" No freedom of speech, typically put by a finance minister.
They are fucked. Greece is only the first problem for them. Britain, Jaapan, and the US are on deck, so first greece and others bleed now. When they bailout the Euro nations (it is not a question of if), they ruin the currency (the same is for the US), they do not, deflation. And deflation is NOT AN OPTION. No risk? hahaha he is either an idiot or evil and manipulative.
He is not an "idiot"...
I know Almunia from 25 years ago, he was minister of the Spanish government and briefly leader of the Socialist Party. It is a complete idiot, you can be absolutely sure of that.
Yap, but dont forget people like Almunia can easily lie as 98% of the population understands simply nothing what he is talking about.
Of course he stays certainly in one of the best hotels in Davos, has a car driver and organizes patrties paid by............right, THE TAXPAYER !!
Here we go again Friday night and the Fool
Moon effect. Starting a little early tonight
it's only 6:40. As a blogger and you want
to be taken seriously learn to spell and
cut the sophomoric drama and foul language. A novel idea for
you? Stick to the script that says facts on the page and not the rumor one. Maybe people don't let you finish because early on they realize your insight is blindsight. Need help to the store to buy a white cane?
Ireland announces it wishes to land a Irishman on the moon before this decade is out
Irish Prime Minister states " We choose to go to the moon ,we choose to go to the moon not because it is easy but because it is hard"
When this guy came to Latvia and spoke to the public, he sounded as a Soviet official from the past. He still sounds the same.
TYLER!! Where are you guys on this story?? Of all sites, I expected you to have the scoop, but so far, nothing!!
WHY has the BANK OF AMERICA website been down all day???
Have they been HACKED????
Can someone PLEASE REPORT on this and tell us why we HAVE LOST ALL ACCESS TO OUR ONLINE ACCOUNTS???!!!!!
waiting for eastern europe, portugal, spain, who knows. maybe Cali.
good thing that Dubai matter is all okey dokey now.
When does it all fall apart? I've been waiting for months for it to fall apart. Why is it taking so long?
Hey relax Sparky , I want one last summer before we enter a long long winter
Cork, I am relaxed and I want another summer too. My frustration lies in the fact that we can't fix it until it falls apart. I am ready to repair and reform.
Sparky I want reform too but Dork and Sparky ain't in charge of this cluster fuck and neither is alumina or aluminium or whatever his name is.
It is quite obvious to me that the big banks control this wonderful world of ours and they are prepared to do everything and anything to preserve their power
Violence is not a option for most people including myself as we still have much to lose but I fear it will ultimately be the only option
If the elite take at least a partial loss on their investments then maybe we will be able to sustain at least some level of civilisation and peace but I fear that it will not be the case.
No one knows.
That's the funny thing about this Global Train-wreck.
Everything will function perfectly until the moment that it doesn't.
Perfect order and then sudden chaos...
Funny how that works huh? R/S work until ..... they don't. Momentum continues until .... it doesn't. technical and fundamental analysis provides good guidance ..... until it doesn't. These markets keep going up until ... wait .... all it takes is another printer cartridge. Walk on!
I imagine it is like when stress loading on a tower exceeds its anti-buckling limit---the Euler Limit--so it all comes crashing down of asudden, without warning.
The economic stresses pile up heavier and heavier, until the system pancakes.
That's why we use the pyramid economic system because it spreads the load out. Of course the bottom layer is starving, being sold as slaves in haiti, etc etc. So even though it's big and wide. It's the worst loosest building material available and takes constant renewel of death and reentry from the heavenly ponzi pool. But there's so many people willing to sign up for a chance to become a rock star and blah blah blah if they do it just right but they end up here starving to death in a ditch. It's like napolean how he was gloriously conquering everything night and day in his letters home but when people signed up to be a part of it they died of thirst on a dessert march. But you could have the oportunity to come here and read through pamplets about a great vacation packages full of promise and fulfillment to be later filled with caveats and emptors. As long as some people actually get the full promise the universe is willing to lie to everyone else to make that happen. Biggest best liar gets the most. The biggest promise with the largest shipping costs and highest delivery fees and most "shipping mistakes" or order fulfillment "problems" wins. But those will be corrected in the future. Promise.
What fall apart are you waiting for? Be
more specific. Many people wonder the
same thing while waiting birthdays, Christmas, tooth fairy and so on.
"Woomun, if you inaterupt me hwan more tame, I will put yoor bells een a slang and sell you Greek bonds."
Look people, it is only FIAT currency. They OWN the printer and with the help of Bernanke and his mafia boss families the Rothschild, Morgans, Warburg, etc they just inserted a new cartridge.
Got gold?
PS: Unless the plan is to take down countries that use the Euro and profit from it. You DO KNOW the Rothschld family and other banksters have purposefully crushed a financial system (England) to further their own private wealth and control.
You do know the Rothschilds caught a cold by shaking Madoff's hand. The only plan out there is the one you just described courtesy of your towering mind.
If there's no risk of default he's buying Greek bonds because they are such a great value now. Right? ^:)
Not being a private investor,spec or MM. To go long or not Greek bonds is probably something about as important to him
as whether he wants his coffee with or
without cream this morning.
Why does nobody listen to Dork , eliminate those useless bank bonds and the pressure will be off the sovereigns
Its not magic its easy.
As Tommy Copper said "just like that"
Almunia is a lying sack of s**T!!
Is it smokey in here.....open the windows.......where there is smoke there is fire! I wonder when the rest of the world is going to start pointing fingers at Uncle Ben for convincing them to spend, spend, spend. Poor old Keynes is loosing the battle around the world! Maybe Krugman will bail out Greece?
Reminds me of Mohammad Saeed al-Sahhaf, Saddam's information minister, giving a press conference saying there were no us troops in Iraq as US tanks are rumbling by in the background.
I thought the name was "Baghdad Bob!?!?!?" ;)
When losers aren't allowed to lose, everyone loses.
" Maybe Krugman will bail out Greece". Reminds me of what Sen.Dodd said yesterday on the floor of the Senate. "There is an Economist called Krugman,um he is a progressive economist,who said tell me if you are not going to confirm Bernanke so I can sell my stock". Without sahme,a Senator of a country that invented the idea of no negotiation with hijackers,threaten the senators with stocks crash if they don't confirm. Could anybody please show him how much stocks worth now relative to their value ten years ago?. And would he have asked Krugman to show him his portfolio,just so that we see whether that economist puts his money where his mouth is?. Simply because if he hasn't seen the decline in the dollar coming back in the nineties due to the policies of the FED,then he would be no great economist,and one can not take his words on such serious issues as investing. On the other hand,if he has timed his entries and exits here and internationally,then one should question his motives for wanting BB so bad,and whether he is only a paid agent for Wall st.
There is no risk of default because there are more funding options available to those who are a part of the single-currency union.
Please deny all kinds of rumours.
That quote is funny, I've read it: "Last time I had a meal was a month ago. I'm not hungry, I don't need to eat, I only eat when I want!"
Wow. That video was special...
I have a plan.
What's the plan?
I'll tell you next week.
Well what are we looking at sir, what direction is the plan heading? Default, bailout, leave the Euro; there are only so many options?
Stop speculating! We have a plan, everything is ok, and we'll tell you next week. There is no bailout. There is no plan B. Default doesn't exist, there is no such word.
Seriously?
Man that wasn't worth my 8 minutes, it sounds like Bernanke's exit plan. Which is ummmm.....
Fme. We've got a floater.
'Lie' is such a strong word. It's just a (sadly weak) bluff in the http://www.zerohedge.com/article/pimcos-el-erian-dissects-greece-shift-i... ongoing game of poker.
Almunia? He should focus on Arsenal not economics.
Of course all this talk about Greece is only a diversionary canary, keeping the spotlight from the really critically ill patient, CALIFORNIA!
This guy sounds like Baghdad Bob. But... not nearly as funny.
The Greeks could always produce collateral like all of its government owned farmland (substantial number of acres) in return for IMF/(Gross-DeutschLand loans and guarantees. This could easily yield 10-20 billion in euro loans. This could also facilitate agriculture products for GrossDeutchland.
My european friends believe in will evolve like this: those countries that supported GrossDeutscland (austria, hungary, swiss, transylvania, republic of ireland, etc.) will receive help from the Deutchland. As Greece refused to fight for GrossDeutschland against the Russian Red Army hoards, it will be allowed to sink. Juste.
Regardless of what anybody might say or promise, socialist Germany and France are not in any position to support and feed socialist Greece, Spain, Ireland, etc. states, who have neither intentions nor political will to get off their welfare existence.
Consequently, there is no way to escape a "hard-landing".
PS
With time, socialism and welfare states transform people into highly corrupt, unproductive and angry masses easily going out of control. The present EU leaders are too mediocre to understand and control runaway political & economic processes.
In the past, historically, any socialist state was looking for wars to solve their domestic economic failure.
Joe Stalin liked to tell to his close associates that "as soon as we cut off America and its Western Europe allies from their colonies, they are cooked." It appears that this event is coming when Asian, Latin American, and even African countries are not willing to continue their colonial status anymore.
Ummm.
The price of gold has been dropping. And Greece had over 100 tons on stash.
Is it possible that selling some of their reserves is part of the solution?
Naah, too much red tape for the Greek public sector ...
I do not think IMF-induced austerity is an option. Spring is coming, and young people like nothing better than to take to the streets in protest of anything and everything when the weather turns warm. Cutbacks in government services are tailor-made to rally the free-flowing hormone set. The unions would follow. Then the youth of the other Euro-states. Suddenly it's 1968 all over again. Even Baader Meinhof will detail and polish the old BMW's and embark on a nostalgia tour, grabbing a banker here and a politician there.