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G-7 To Discuss Greece This Weekend, Even As Trichet Watches The Superbowl
Quotes from Germany's Finance Minister:
- G-7 To Discuss Greece, Portugal On Sidelines
- Crisis Not Yet Fully Over
- Market Moves Exaggerated But Must Be Taken Seriously
- Euro Is And Will Remain Stable
- Will Not Spare Greece From Efforts To Reduce Deficit
- Europe Isn't Only Place With Budget Problems
- EU Commission Will Enforce Tough Demands On Greece
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"Washington is sick and broken-and it can solve all our problems."
-Peggy Noonan
Speaking of the Super Bowl, this made my day.
Every year, CNBC's Squawk Box quizzes some of the Super Bowl players on current financial issues. Colts DT, Daniel Muir was shown a pic of Bernake and asked if he knew who it was.
Muir responded: "I don't know who he is, but he looks like a crook. He looks like he would take every single thing you have."
Video: http://www.cnbc.com/id/15840232/?video=1405435640&play=1
bahahaha!
hahahaha
OK, it looks like you don't get to that level of sport, without having very good instincts about who's on your side and who isn't. Beautiful.
"Ah, yes, my little pretty......
I am the most powerful man in the world right now!! Now get out of that hovel and come over to my hotel room!!"
"Yes, I'm ready for my massage now!!"
What the Gang of 7 will do to these women, the Gang of 7 will do to taxpayers...over...over...over...til the taxpayers are used up.
Use me (til you use me up).
http://www.youtube.com/watch?v=g3hBYTkI-sE
plenty of punting on both playfields
I think Trichet will be watching Chelsea FC VS Arsenal FC this weekend- just like about 500 million other viewers. this will be the most watched sporting event of the weekend. Why, what else is going on?
Superbowl means nothing outside of the US.
True. It means nothing here either, unless you like American football, which I don't.
"EU Commission Will Enforce Tough Demands On Greece"
Seriously? Are they going to send troops, because I'm not sure how else they are going to get them to agree. Even if a sleazy Greek politician promised to do what the EU wanted, his life would be worthless in Greece. Not to mention the fact that the people would strike (or worse) if they tried to force the austerity through. If any foreign troops showed up, even under the guise of "peace keeping" in case of riot, they would be met with severe backlash.
Of course, Spain and Portugal are imploding even faster than Greece. The key to keeping this enterprise afloat apparently rests on keeping people from actually examining the financial health of various govts and institutions. This goes for the US as well. Watch the "threat to Europe" from Iran start coming up again (or other similar distractions). Where's the World Cup and Olympics when you need it?
We will be given extend and pretend at the sovereign level. Just wait and see
"We will be given exend and pretend at the sovereign level."
WILL be given? What do you suppose has been going on for the past twenty years?
SPDR PIIG, SPDR PIIG, does whatever a...
SPDR PIIG does?
And while the G7 meet, the real masters meet in secret !
;-)
Secret summit of top bankers
By George Lekakis and Fleur Leyden
From:Herald Sun February 05, 2010 10:36PM
... … Organised by the Bank for International Settlements last year, the two-day talks are shrouded in secrecy with high-level security believed to have been invoked by law enforcement agencies…. ...
http://www.news.com.au/business/secret-summit-of-top-bankers/story-e6frf...
I wonder what they will talk about.
Ok were fucked. We gotta take down something big and european.
Deutche bank?
Well we sure can't kill Credit Suisse.
Deutche it is.
In before the naked short ban.
It will go something like this....."So, should we go inflation big, or deflation?" Group of Bankers seated at table mumble, "Inflation.....yes yes, quite right." "Ok so inflation big, gold to the moon, and hussies all around. Cheerio!"
Yeah, you know that meeting's got to have some serious weird shit happening.
Oh good. More reassurances. That went down so well last week, they're giving us a second helping.
Why is the G7 meeting in Iqualit (?) where you can only reach by air or sea ? What are they hiding from ?
Very interesting indeed.
The G-7 will go after China in the most aggressive statement ever to come from the G-7. The talk centers around 10X1-...10% Chinese GDP growth means 10% unemployment in the west as they continue to build unneeded capacity and iscount the value of their currency...And a trade war will start which will also be the new cold war with the West& India versus China.
Euro is and will remain stable...yeeeaaaahhhhhh about that...
In Miami it means one thing: stay off the streets. i was down in Miami the last super bowl there. Wall to wall ghetto thug american idiots. Yup. America is doomed.
dont venture into SOBE !!!
The EU getting ' tough' is another way of saying ; No one will care what the EU wants. If it's Not good , a handout, than it won't be important , won't exist. It's the beginning of every man for himself, as Churchill said' it's the beginning of the end'.
Churchill said was it was "the end of the beginning"
If Greece was to default on her debt the banks of the country will collapse immediately. At that event their will be no way for the government to save the depositors of the banks since will not be able to print or borrow money. The implications to the credit markets for such an event will be enormous since no bank will want to lend to any bank in Portugal, Italy, Ireland, Spain and maybe others. Since this will be the first time since the crisis began in 2007 that depositors lost money it will cause a panic and it is very likely that there will be an immediate run on the banks of Portugal, Italy, Spain and Ireland at a time when the countries themselves are unable to raise capital
http://israelfinancialexpert.blogspot.com/2010/02/coming-euro-collapse-h...
Quite so, quite so. The question is, however, were this to happen, who would benefit? Quite a long list actually, starting with Brussels, berlin, Paris, New York.
So not entirely out of the question then.
http://www.youtube.com/watch?gl=GB&v=d0nERTFo-Sk
Fear Boom and Bust a Hayek vs Keynes rap
Surprise!
Goldman Sachs helped Greece in debt Cosmeticshttp://translate.google.de/translate?u=http://www.spiegel.de/wirtschaft/0,1518,676346,00.html&sl=de&tl=en&hl=&ie=UTF-8
asdf - Thanks for finding the Goldman Sachs tentacle in Greek government with "complex financial instruments" going back to at least 2002.
The Greek government still has not wised up to the perils of doing business with GS. Excerpts from Financial Times Jan 28, 2010.
"Goldman plays key role in Greece rescue"
"A team from Goldman Sachs was in Athens on Thursday shepherding representatives of Paulson, the US hedge fund, around meetings with local bankers, economists and analysts... Last year it took George Papaconstantinou, the finance minister, on his first roadshow to London and Frankfurt, along with Deutsche Bank. Earlier this week the bank was one of the joint-lead managers on Greece’s sale of an €8bn (£7bn, $11bn) government bond..."
"Mr Papaconstantinou confirmed earlier this week to the FT that he would in the next few weeks go on an investors’ roadshow to Beijing, Shanghai and Hong Kong in order to generate interest in Greek government bonds. It is expected that as with the previous European trip, Goldman would be taking a leading role in organising this roadshow, according to investment circles in Greece.
"JPMorgan has been important in the past but is being shunned by the new government over a controversy centred on the sale of a structured bond in 2007 to a Greek pension fund, under the previous conservative government. JPMorgan denied any wrongdoing and repaid the funds. The socialist government last week announced it was reopening an investigation into the scandal.
"Goldman’s main source of income in Greece is from the Hellenic republic’s borrowing operation, to which it has access as one of 15 Greek and foreign banks that act as market-makers. “They’re very active in the bond swaps market, which is extremely lucrative,” said the fund manager. It also regularly advises NBG, the country’s biggest commercial lender."
http://www.ft.com/cms/s/0/53bbbd40-0c42-11df-8b81-00144feabdc0.html
This hilarious howler quote also from the FT article:
“Goldman pretty much has taken a leading role on advising Greece at the moment,” said a Greek economic consultant. “Their competitive advantage is that they are smart guys and come up with good ideas. That certainly helps in a crisis like now,” the consultant said."
With "smart" friends with "good ideas" like Goldman Sachs, who needs enemies?
How about the player who thought unemployment was 50%.
CNBC laughed at him and told him 10% but sadly he is closer than they are.
Maybe their talking about how bankrupt california is?
Don Saltarelli was called upon by Governer Pete Wilson in 1995 to help clean up the bankruptcy of Orange County California. This was national news that shocked many and Don is now saying that...
http://tinyurl.com/ykg64bf