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Greek Math: €12 Billion In, €18.2 Billion Out... And That's IF The Impossible Happens

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Fri, 06/17/2011 - 10:54 | 1377538 CPL
CPL's picture



it's pointless to even attempt to figure out the market rationale nowadays.  In a bizarro superman universe it could mean anything.

Fri, 06/17/2011 - 11:01 | 1377568 Hugh G Rection
Hugh G Rection's picture

Carve it Up, The Creature From Jekyl Island is Hungry!

Fri, 06/17/2011 - 11:00 | 1377574 Goatboy
Goatboy's picture

Before, we just knew less. Now we know more (or think we do).

Bizzare is monkey society market's middle name and always was.

Fri, 06/17/2011 - 11:15 | 1377626 GoldSilverDoc
GoldSilverDoc's picture

Maybe somebody could tell me why China would WANT to own Greece and Portugal?  Wouldn't that be like owning a bunch of REO that hasn't been marked to market?

Fri, 06/17/2011 - 11:24 | 1377645 jerry_theking_lawler
jerry_theking_lawler's picture

there is no more "mark-to-market"....it is now "mark-to-fantasy"....that is the reason this whole ponzi is still going....

Fri, 06/17/2011 - 13:07 | 1377651 GoinFawr
GoinFawr's picture

"Maybe somebody could tell me why China would WANT to own Greece and Portugal?"

They're running into a dearth of Falun Gong 'suppliers' for their human organ export business, and Europeans will provide better matches for the rapidly expanding Rotschild market?

Hunh. Gives new meaning to 'extracting a pound of flesh' from your debtors, no?

Mon, 06/20/2011 - 15:23 | 1385898 Onohymagin
Onohymagin's picture

Lovely bit of lateral thinking.

Tue, 06/21/2011 - 12:47 | 1389330 GoinFawr
GoinFawr's picture


Fri, 06/17/2011 - 11:53 | 1377745 Dreadker
Dreadker's picture

Greece is a nice place to station lots of chinese fighter jets and bombers... and portugal can be used to regulate sea trade routes to and from the Meditteranean... Global oil wars bitchez!

Fri, 06/17/2011 - 12:21 | 1377834 ambrosiac
ambrosiac's picture


China's Cosco, running one of the piers at the Port of Piraeus, has imposed a no-breaks

policy, including a no-urination one.  No trips to the little boys' room.


Piss before the opening bell or forever hold your bladder.  A sign o' things to come?

Fri, 06/17/2011 - 12:09 | 1377791 Founders Keeper
Founders Keeper's picture

[Maybe somebody could tell me why China would WANT to own Greece and Portugal?]---GoldSilverDoc

Hi Doc.

IMO, China is not ready for the European dominoes to start falling. China still has too many USDs yet to spend on shoring up foreign resources and securing food supplies.

China, like everyone else, is pushing against the inevitable. Buying more time to prepare for the economic catastrophe.


Fri, 06/17/2011 - 10:51 | 1377544 Stoploss
Stoploss's picture

Quad witch today.

Fri, 06/17/2011 - 11:03 | 1377573 Cognitive Dissonance
Cognitive Dissonance's picture

Very volatile. I can't wait until 2-3 PM for the afternoon fireworks display.

Fri, 06/17/2011 - 11:11 | 1377618 Ray1968
Ray1968's picture

Nasdaq is leading the way down right now. DJIA to follow.

Fri, 06/17/2011 - 11:32 | 1377677 Cdad
Cdad's picture

That is because the mother of all liquidity driven bubbles is about to pop...and everyone knows it [except the folks at Citi, I guess].  I am talking about the life sustaining price action on Netflix, of course.

Surely, if Netflix can no longer maintain positive traction, doom is at hand.

Attention Netflix "Investors"!  Please report to your "smoothing mechanism."

Fri, 06/17/2011 - 11:55 | 1377757 Bay of Pigs
Bay of Pigs's picture

Where are the "value" investors snapping up the bargain priced RIMM at?


Fri, 06/17/2011 - 12:03 | 1377769 Cognitive Dissonance
Cognitive Dissonance's picture

They're all afraid of a RIMM job.

Fri, 06/17/2011 - 10:53 | 1377550 scratch_and_sniff
scratch_and_sniff's picture

Ask no questions, hear no lies.

Fri, 06/17/2011 - 10:54 | 1377554 LRC Fan
LRC Fan's picture

They are unable to kick the can, now it is taking more and more force to move the can down the road.  Bulldozers and cranes come to mind.  Pretty soon the can is going to fall through the road and cause a huge fucking pothole.  They will try to fill it with paper money and open the road back up. 

Fri, 06/17/2011 - 10:58 | 1377555 slow_roast
slow_roast's picture

Who's more confident here, bulls or bears?  Really?

Is there really any hope of this situation looking any better on Monday?  By then we might have riots in France and Germany protesting Greek protests.

Fri, 06/17/2011 - 10:58 | 1377557 hugovanderbubble
hugovanderbubble's picture

Im shorting this equity market till 1.100

Tactically till 1.220

Sat, 06/18/2011 - 11:28 | 1380132 snowball777
snowball777's picture

Good bounce target, but your final cover may leave much on the table.

Fri, 06/17/2011 - 10:56 | 1377560 Dick Darlington
Dick Darlington's picture

This will make Greece GDP and tax revenue soaring

In the meantime, let's read EU headlines how we are one big happy family and as confident abt anything as ever. Can we sing Kumbaya too?

Fri, 06/17/2011 - 10:56 | 1377561 Sambo
Sambo's picture

China owning two countries...? Sounds like a game of Monopoly....

and the winner is ...nobody!

Fri, 06/17/2011 - 11:26 | 1377638 TheTmfreak
TheTmfreak's picture

Except they'll own Baltic and mediterranean avenue. Whoopdy fucking doo.  (Funny how ironically that turns out to be what they would be owning...)

Even if you put a hotel on Greece its not like it'll be a worthwhile purchase.

Edit: Even the monopoly board game understands the value of the property... Unimproved... about 2 bucks, with full improvements about 250 bucks.

Fri, 06/17/2011 - 11:32 | 1377685 Double down
Double down's picture

Let them own all they want, just do not let them have the "collateral". 

Fri, 06/17/2011 - 10:58 | 1377563 plocequ1
plocequ1's picture

Im confused. Ill go back to the Rimmberrrrrrrrr post. Its much easier to understand

Fri, 06/17/2011 - 10:56 | 1377564 rubearish10
rubearish10's picture

The EUR is up today because all these shenanigans are at the expense of the reserve currency. More USD's will be printed to allow for more EUR's to be disbursed to buy more Greek Isle Bikini's!

Fri, 06/17/2011 - 11:02 | 1377569 Cognitive Dissonance
Cognitive Dissonance's picture

Actually the only possible reason is that Europe is now pricing in the fact that China will be the de facto owner of at least 2 European countries by this time next year,....

Is it creditors choice or does China simply get stuck with whatever defaults? Can Chine trade one Greece and one Spain for 1/2 of Germany? Or does cash also need to change hands? Or better yet......Gold?

Fri, 06/17/2011 - 12:30 | 1377860 hamurobby
hamurobby's picture

Im surprised that Germany would let this happen, me thinks they will buy Spain and Greece for .50 on the Euro. Have not wars started over less?

Oh, and Rimm job, good one CD.

Fri, 06/17/2011 - 11:03 | 1377571 lizzy36
lizzy36's picture


Market up on either DIP financing to be provided by China (look forward to the Nasdq listed RTO of Greece in 2014)


Market up because the ECB will prevail (just long enough for Trichet to retire with his legacy intact, although see Greenspan for viability of duration trade in ones legacy), by adding even more debt on to the Greek balance sheet, providing for an even more catastrophic default going forward.

Fri, 06/17/2011 - 11:01 | 1377580 Cognitive Dissonance
Cognitive Dissonance's picture

I select number 2 under the premise that "Not on my watch" is the policy of all politicians the world over.

Fri, 06/17/2011 - 11:51 | 1377740 SDRII
SDRII's picture

Rumor china to widen out band against the dollar this weekend

Fri, 06/17/2011 - 11:00 | 1377575 Cdad
Cdad's picture

So will someone please explain to us why again the EUR is up today?

 I thought this was because China [the single worst allocators of capital on the globe, bar none] was buying Euros yesterday [and by algo extension...today too]?  In which case, and perhaps with about one more penny in the crocodile algo advance of that clearly FUBAR currency, I think it is time to sell it.

And since this entire US equity session is looking like every session in the last six weeks, with the ETF/underlying stock arb trade running wild, it seems pretty clear to me that a reversal is highly likely today, in equities and in currencies.

My math would also indicate that today's Greek cure [firmly established as something in the past tense this morning on the BlowHorn] is nothing more than a story started so as to convert dumbass upside calls into liquidity destined for downside put on Monday morning.  But I freely admit that I might be missing something here...and the disturbing feeling in my posterior just now may well be, in fact, a unicorn horn.

Fri, 06/17/2011 - 11:08 | 1377588 Cognitive Dissonance
Cognitive Dissonance's picture

....that today's Greek cure......

I took The Cure once. But it still itched for several weeks afterward.

I suspect the world will be itching for decades from this fiat transmitted disease. 

Fri, 06/17/2011 - 11:16 | 1377629 Cdad
Cdad's picture

My guess is...come Monday, noonish est, the itch will resume.

Fri, 06/17/2011 - 11:28 | 1377674 Cognitive Dissonance
Cognitive Dissonance's picture

I highly recommend liberal application of this. In physical form of course.


Sat, 06/18/2011 - 11:31 | 1380135 snowball777
snowball777's picture

That'll be $3079.80 + tax.

Fri, 06/17/2011 - 11:03 | 1377590 SheepDog-One
SheepDog-One's picture

Its all so broken I cant even look at it anymore...just like how 4 years ago I had to stop watching all the media because the assault to the senses was too much, now following this daily sausage making spectacle the only ingredient of which is bullshit and they tell us its the finest grade-A choice cuts is too insulting to me.

Its all just crap, frankly I think they planned the grand world melt down, but now have cold feet to go over the edge.

Fri, 06/17/2011 - 12:25 | 1377856 America- Some A...
America- Some Assembly Required's picture

Biding their time to suck the rest of the marrow out before the world gets the BONE

Fri, 06/17/2011 - 11:00 | 1377576 SheepDog-One
SheepDog-One's picture

Gee I wonder how the already rioting Greeks will view the new and worse austerity measures for 'the plan' to be accepted?

Fri, 06/17/2011 - 11:06 | 1377584 Cdad
Cdad's picture

Umm...by breaking the front window of the new shiny Abercrombie and Fitch store front, and then curiously standing in line with their credit card to buy $30 t-shirts?

Fri, 06/17/2011 - 11:06 | 1377586 LRC Fan
LRC Fan's picture

Yeah what the fuck is the "plan" they keep mentioning on Bloomberg and CNBC?  Printing/stealing more money and throwing it to Greece?  So they can do the same thing in the fall? 

Fri, 06/17/2011 - 11:04 | 1377579 LRC Fan
LRC Fan's picture

This situation reminds me of a compulsive gambler.  He needs more and more money over time, and constantly is broke and losing money.  The market going up is similar to the credit rating of the person providing the money to go up.  Even though it is nothing more than throwing good money after bad, with the prospect of more money being lost later on. 

Fri, 06/17/2011 - 11:01 | 1377581 wally_12
wally_12's picture

This is Kabuki Theatre.

The FED will never let a domino fall that is part of the Ponzi.

Merkel has been told to fall in line with FED support.

A few more days of theatre and ECB will announce another "Solution".


Fri, 06/17/2011 - 11:03 | 1377591 markytom
markytom's picture

I thought the IMF, in an act of complete desperation, was going to approve the next distribution basically without any conditions:

Rehn strongly implied that the International Monetary Fund, which must also sign off on the loan payment, would agree even if euro-zone governments haven't put a multi-year financing plan in place for the country.

Fri, 06/17/2011 - 11:08 | 1377593 hugovanderbubble
hugovanderbubble's picture

Tyler JPM has a big trouble with CDS

Fri, 06/17/2011 - 11:04 | 1377595 Version 7
Version 7's picture

A chart that paints a 1000 words. Greece is bust, period.

It would be nice if we could have analogous charts for all five little PIIGS.

As a percentage of 2010 GDP.

Fri, 06/17/2011 - 11:08 | 1377596 LRC Fan
LRC Fan's picture

CNBC should run a poll:

Which is more vital to the economic recovery?

Raising the US debt ceiling


Bailing out Greece

Liesman's head would explode. 

Fri, 06/17/2011 - 11:11 | 1377607 tallen
tallen's picture

I think Rick Santelli is about to start fighting Steve Liesman.

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