Germany's Big Fat Greek Debt Restructuring Plan...Lie?

Tyler Durden's picture

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
HelluvaEngineer's picture

Good thing that Europe is saved every morning, and 8 billion or so of POMO gets funneled into the US markets everyday, or we might see a selloff in my lifetime.

Any chance the Bernank can buy Jobs a new liver?  Maybe we can give him a new liver every morning.

StychoKiller's picture

The Bernank will simply activate the Human Organ module on the printing press. :>D

hugovanderbubble's picture

Distribution time...profit taking from december....or september , be cautious if long.

Sudden Debt's picture

The timer is set between 4 to 5 weeks.

 

Let me tell you something about European politics.

The mentality:

A. You don't put out a fire UNLESS your house starts to burn.

B. A problem should only be addressed when the problem presents itself or solved itself (but still take credit for it).

C. 1 euro for you, 5 euro for me.

 

NEVER! EVER EVER!

HAVE I SEEN ANY EURO POLITICIAN OR COUNTRY!

DO!

A PREEMTIVE ACTION!

ON ANYTHING THAT LOOKS LIKE IT!

UNTILL!

IT'S REALLY REALLY REALLY X2!! 

TO LATE

 

EscapeKey's picture

Talk is cheap. I'll believe it when I see it.

Oh regional Indian's picture

Nice irony from Helluvaengg above.

But it is clear to all and sundry that can-kicking, own-debt-buying and sheeple shearing is the plan, stan. No surprise. With so much on the line, in terms of how much the sheeple are sheared every single day, makes sense that the can kicking enriches the rich every day they gain.

If it is still not clear that only an epochal event will bring this house down and that it is either known of or being planned, then I suggest a deep study of th estate of the world.

Read a fascinating thesis today as to why Oil could be $220 dollars a barrel before long. The great Middle-east Shia-Sunni wind-up. 

All this mutual junk-scratching will seem like chump change in comparison. 

Prepare accordingly.

ORI

http://aadivaahan.wordpress.com/2011/01/18/the-callousness-of-pornography/

Sophist Economicus's picture

I get it.  

Have a bunch of governments 'buy' a troubled government's debt, with a new, low interest debt, so that the troubled government doesn't have to worry about the high interest payments on the existing debt.  

That will then allow the troubled government, with the now 'deferred' debt payments to pretend all is well.  

Of course, the troubled government would stil be on the hook to buy-back the old debt at some point.

But they would be on the hook to pay back the 'low interest' money the got from the gang-of-governments in the first place as well...But if they spend that money too....Oh forget it...

Sudden Debt's picture

Conclusion:

BLANK CHECK!!

SUGAR DADDY JUST PAID THE BILLS, NO STRINGS ATTACHED!!

 

ehe...

 

 

 

 

Sophist Economicus's picture

I WANT A SUGAR DADDY!   NOW!....Uhm, make that a SUGAR MOMMY

Sudden Debt's picture

No problem, we'll send you a Sugar Mommy.

Her name/alias is: "STRAPON SUGAR",  SS in short.

 

Sophist Economicus's picture

Upon further reflection, who really needs a Sugar Mommy....

JW n FL's picture

Currency Amounts in New Special Drawing Rights (SDR) Basket

Last Updated: December 30, 2010

The IMF has announced that on January 1, 2011 changes in the relative weights of the four currencies in the Special Drawing Rights (SDR) basket will come into effect (Press Release No. 10/434). The initial weights assigned to each currency in the SDR basket have been adjusted to take account of changes in the share of each currency in world exports of goods and services and international reserves.
The table below shows the new currency amounts that will be effective January 1, 2011.To assist users of the SDR in preparing for the changeover to the new SDR valuation, the IMF has provided illustrative projections of the currency amounts every week in December.

                Calculation of Currency Amounts
in the New SDR Basket

(as of December 30, 2010)

 

 

 

(1)

(2)

(3)

(4)

Currency

Initial new weight (share)

Illustrative currency amount1

 

Exchange Rate on 2 12/30/10

 

U.S. dollar equivalent

 

 

 

 

 

 

 

 

 

Euro

37.4

0.4230

 

1.32500

 

0.560475

 

Japanese yen

9.4

12.1000

 

81.63000

 

0.148230

 

Pound sterling

11.3

0.1110

 

1.54350

 

0.171329

 

U.S. dollar

41.9

0.6600

 

1.00000

 

0.660000

 

 

SDR1 = US$ 3

 

 

 

 

1.54003

 

 

1 Currency amounts are based on average exchange rates for a period from October 1 to December 30, 2010.

2The exchange rate for the Japanese yen is expressed in terms of currency units per U.S. dollar; other rates are expressed as U.S. dollars per currency unit.

3 The value in U.S. dollars of one SDR, rounded to six significant digits.

http://www.imf.org/external/np/tre/sdr/sdrbasket.htm

Humpty Pundit's picture

EFSF= European Fanciful Subprime Facade (or fortification, or fornication)

youngman's picture

Hey...but they are striking again in Greece today.....that always adds 1% to the GDP .......

Sudden Debt's picture

and if they use molotovs = +2%

blindfaith's picture

so, when we start stricking here in the USA will our GDP go up to? 

 

Hey, all this financial stuff is eaiser than I thought.  Think I'll start a fund and tell all the investors "trust me"...isn't that how it goes?

MarketTruth's picture

The Greek should just follow other EU countries and just print up the Euros as needed.

Sudden Debt's picture

They don't have any printers who actually know how to print.

Humpty Pundit's picture

I am wondering why earlier in the week when it became known that Ireland printed up something close to 30% of GDP it did not phase the EUR?

blindfaith's picture

it would be a whole lot easier if all these countries just surrendered to Germany and got it over with once and for all.  The century old dream come true at last.  Heck 50% of the German people are in favor of it right now.

Shylockracy's picture

This is a wurst case scenario.

bullchit's picture

"Wurst"? how long have you waited to crack that one? :-)

Regards.

topcallingtroll's picture

Its just as well that they kick the can.down the road and hope moderate inflation and a little bit of growth solves it. Im getting too old for the burning and pillaging. I got pitchfork elbow the last time.