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New General Strike Paralyzes Greece As 100,000 Protesters Take To Athens Streets

Tyler Durden's picture


Perhaps it is time for Eurostat to adjust its Greek economic numbers. According to a back of the envelope analysis, roughly 5% of GDP in 2010 was lost to a string of increasingly more potent general strikes, and another 10% due to downstream effects. A new one is in process currently, which will be particularly crippling as workers in the transportation industry have called for a near week-long shut down of the capital. For those travelling to the city (not sure how as all flights into the city have been cancelled), here is revised operational schedule of various means of transportation: Buses and trolleys will operate from 9 am to 9pm; The metro (all lines) will run from 10am to 6pm;  Taxis will not operate between 10am and 2pm. And courtesy of "From The Greek Streets", below is a live update of events from Athens as they transpire in real time.

Live Feed from General Strike in Greece December 15th-Unrest in the Streets

2.30pm-Tens of thousands of people have entered the demonstration for
the general strike today, with some prediction estimating the
demonstration in Athens being up to 100, 000 people. Clashes with police
have begun already in the early afternoon in Athens and Thessoloniki,
with protesters throwing molotovs at police in front of Parliament in
Syntagma square in Athens, a riot police bus burned near Parliament, and
a goverrnment building as well as hotels attacked with molotovs.

-Most recent reports say that around 2.30om the police managed to
split and scatter the demonstration at the GSEE after there were
clashes in front of Polytechnio. Some people went to the GSEE union
headquarters where there were more people, but here arrived more police
who scattered people with beatings and teargas. Unconfirmed reports
say that people moved into the Polytechnio, Exarcia, and Plaza Victoria
recently. There are reports of riots in and around Exarcia and that it
is impossible to enter the neighborhood.

-There is a confirmed report that a police riot squad bus was burned
sometime around 1.30 directly in front of the national garden next to

-In front of the museum Polytechnio there is a confirmed report that a
Delta force of about 7 police on motorcycles were attacked by
protesters when they police motorcycles drove into the demonstration.
They were thrown from their motorcycles and the motorcycles were
attacked, as well as the policemen.

-The entrance of the Minister of Economics building was burned after a
molotov attack in the beggining of the demonstration. From here the
majority of the demonstration headed to the parliament after the police
split the demonstration.

-The police split the demonstration again at the Parliament using
tear gas and beatings. However, people returned to the Parliament anyway
and regrouped, and this is when the riot police bus was burned.

-Reports say that all the luxurious cars in front of the Grand
Bretagne and the Saint George hotels directly in front of Parliament
have been burned in the past few hours. Also there are reports that
protesters attacked with fire the entrances to these hotels, and that
there in  damage to the buildings. These are the most luxurious hotels
in the capital.

-There is a report that the ex-minister of the New Democracy Party has been beaten by protesters..

There is an unknown number of arrests. One person in Syntagma has
been injured after being run over by a police motorcycle by either DIAS
or DELTA police, he has been hospitalized. Reports say that there is a
massive amount of teargas being deployed by the police in Syntagma.

In Thessoloniki the demonstration was reported to be massive and “passionate”. At least 20 arrests have been reported there.

In Athens the general strike demonstration began at 11 with a gathering at the archeological museum.


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Wed, 12/15/2010 - 10:01 | 807699 RobotTrader
RobotTrader's picture

This news assures that commodity prices are going to get slammed hard and consumer discretionary names like COH and JWN are going to go up even faster. That is the way it has been working lately.

Wed, 12/15/2010 - 10:17 | 807747 SheepDog-One
SheepDog-One's picture

'Consumer discretionary' hmmm you and HarryWanker always saying that, sure youre not really the same person?

Wed, 12/15/2010 - 11:12 | 807905 unununium
unununium's picture

NFLX is up too, and you are only paying $178.99 for a company worth $3.37, that was worth $5.65 this time last year.

Wed, 12/15/2010 - 10:22 | 807760 Arius
Arius's picture

 how this will effect chinese stocks? lol

PM slammed..yeah as long as chinese keep you happy while picking up your gold

Wed, 12/15/2010 - 10:28 | 807788 Kreditanstalt
Kreditanstalt's picture


I'd be fleeing TO precious metals and commodities in a situation like this...

Wed, 12/15/2010 - 10:29 | 807792 American Dreams
American Dreams's picture

Please enlighten us as the WHY you think there is a connection.  I can't wait for your more than plausable reason..... Bahhh not sure why I even bothered.


know your enemy


Wed, 12/15/2010 - 10:54 | 807845 tmosley
tmosley's picture

Right, because the Greeks are the well known center of the world manufacturing complex, and also among the worlds leading consumers.

Get a real job before you bankrupt yourself.

Wed, 12/15/2010 - 10:03 | 807707 doomandbloom
doomandbloom's picture

As long as we have shortage of resources....there will always be pyramid structures....and ponzi's in the name of establishing order.


we need a completely new energy source...or we could become 'breatharian'( living on light )

Wed, 12/15/2010 - 10:05 | 807713 Dismal Scientist
Dismal Scientist's picture

Hot air seems to be in plentiful supply from governments and central banks. Maybe we could do something with that.

Wed, 12/15/2010 - 10:11 | 807726 SheepDog-One
SheepDog-One's picture

Damn straight, tap into all the hot air and bullshit that flows from the Gooberment and media and central banksters....all the potential energy the world would ever need.

Wed, 12/15/2010 - 10:17 | 807751 LongGold
LongGold's picture

And unlike fossil fuels it's something we'll never run out of :-)  World's energy problem solved

Wed, 12/15/2010 - 13:08 | 808369 Drachma
Drachma's picture


With all due respect, have you given any serious critical thought to what you are saying?

Since you seem to believe, like most armchair geologists, in the unproven and completely inconsistent theory of the biotic origin of hydrocarbon fuels, (maybe because we were told as children in our textbook published by Exxon that oil comes only from dead dinosaurs), could you please explain to me how there can be literally lakes of methane and other hydrocarbons (i.e. 'fossil-fuels') on Saturn's moon Titan? (See NASA).

Also please explain how the biotic theory accounts for bitumens found in Precambrian granites?

While you're at it please explain why the Proceedings of the National Academy of Sciences in 2004 reported that "oil is not a fossil-fuel" and that it is continuously being created deep inside the Earth's mantle?

How is it that we are finding oil at 40,000+ feet below the earth's surface, far below where any sedimentary organic deposits can be found?

"In 1970 the Russians started drilling Kola SG-3, an exploration well which finally reached a staggering world record depth of 40,230 feet. Since then, Russian oil majors including Yukos have quietly drilled more than 310 successful super-deep oil wells, and put them into production. Last Year Russia overtook Saudi Arabia as the world's biggest single oil producer, and is now set to completely dominate global oil production and sales for the next century."

"Dudley Herschbach, a Baird Research Professor of Science and the recipient of the 1986 Nobel Prize for chemistry conducted the original experiments to prove how methane is created in the Earth, said that new findings corroborate that many of the Earth's oil reservoirs refill as they're pumped out (See Shell's experience with their once thought empty oil fields that are now full again). Herschbach said his observations support the view that petroleum may be continually generated."

Keep in mind that the only "evidence" used to support the biotic theory of oil's origin is that scientists in the early 20th century found organic microbial matter mixed in with oil. That's it. There is no scientific proof, and as we know that many lithospheric microorganisms feed on hydrocarbons as a source of energy, it only makes sense that we would find organic microbial matter in oil. It does not prove that they are the source of the hydrocarbons.

The earth is not running out of oil, it is awash in oil. It is however running out of functioning refineries thanks to the machinations of the cartel. I do not deny that some oil can come from organic residues, under optimal anaerobic conditions, but there is much more to earth's hydrocarbon reserves than what you are told in Grade school.

The "Peak Oil" paradigm was created and promoted by the oil magnates from the start, without any scientific evidence.





Wed, 12/15/2010 - 13:39 | 808487 AnAnonymous
AnAnonymous's picture

The "Peak Oil" paradigm was created and promoted by the oil magnates from the start, without any scientific evidence.


This point is totally false.

Following the coal experiment and the danger of coupling an economy to this kind of energy sources, when oil was introduced, some people tried from the very start, to diversify the energy sources.

Big oil, from the very start, played the opposite card. Their best interest was to make oil prevalent in as many sectors as they could.

Big oil promoted the idea that oil was plentiful. Their version was strengthened by the rate of discovery of oil fields that added to the inventory, weakening anyone underlining the risks of coupling to a resource that could dwindle fast.

This lasted up to the 1960s when major discoveries ceased.

Wed, 12/15/2010 - 13:53 | 808546 Drachma
Drachma's picture

Sorry if my honest opinion offends you. Maybe I'll strike that last comment for your sake as I can not back it up. Got a little emotional. Any thoughts on the origins of oil?

Wed, 12/15/2010 - 14:01 | 808573 Drachma
Drachma's picture

My other question would be, do you have any idea why major oil discoveries ceased? Are you saying that they ceased because comapnies could not find oil reserves? It certainly did not cease for the Russians in the 1970s who overtook Saudi Arabia's production in 2005, with no end in sight.

Wed, 12/15/2010 - 10:15 | 807714 jus_lite_reading
jus_lite_reading's picture

Man, reading this is like reading about France circa 1789... hold on to your hats boys!

Wed, 12/15/2010 - 10:06 | 807715 Kaiser Sousa
Kaiser Sousa's picture

those damn greeks...dont they realize that serfdom and servitude to the bankers is good for them...

Wed, 12/15/2010 - 10:27 | 807782 Arius
Arius's picture

kaiser - i am smarter than you - larry S. over 1100, 1200,1300, 1400 going....going

bring back that guy...where did he go...

Wed, 12/15/2010 - 10:36 | 807808 jus_lite_reading
Wed, 12/15/2010 - 12:51 | 808238 Bob
Bob's picture

Jeez, are the morts getting restless? 

Meanwhile, the only thing showing on the US MSM is the weird story of the nut in Florida who killed himself at the school board meeting . . . after painting the Vendetta symbol on a wall. 

How long before other nuts discredit Fight Club and Matrix fans?

Wed, 12/15/2010 - 20:55 | 810193 StychoKiller
StychoKiller's picture

J'accuse!  Yet, you're alive and the other guy is daid -- guess you're NOT into grafitti! :>D

Wed, 12/15/2010 - 10:07 | 807717 LongSoupLine
LongSoupLine's picture

Quick, turn on CNBC!!!  That way you can lull yourself into complacency with storys of the "First Chevy Volt Delivery" to some shlub in NJ.  Now THAT's news!

Wait, now it's Bob PissOnYou saying how things are crazy bullish!

Wed, 12/15/2010 - 10:14 | 807737 More_sellers_th...
More_sellers_than_buyers's picture

I can't even watch CNBC anymore! what a crew! I want to shoot the TV like Elvis after 15 minutes of the mind numbing blather thats on it.  BTW is it just me , or does Gary Kominsky remind you of that guy you had in your class in college that used to raise his hand to ask questions he allready knew the answer to just to here himself talk. 

Wed, 12/15/2010 - 10:19 | 807754 westboundnup
westboundnup's picture

Did a spit-take when the host asked "Are you suprised that we didn't see the worst-case scenario in commercial property?"

Wed, 12/15/2010 - 10:17 | 807746 jus_lite_reading
jus_lite_reading's picture

Yes, this is so important to the world- the first CHEVY VOLT! LMAO!


I think WIKIleaks will expose that CNBS was the "Blue Horseshoe" of Whore Street! Rally the markets MF'ers!

Wed, 12/15/2010 - 10:08 | 807719 G-R-U-N-T
G-R-U-N-T's picture

Hm...Unrestrained merry making, tis the season. Coming to a town near you!

Wed, 12/15/2010 - 10:09 | 807723 RobotTrader
RobotTrader's picture

TIC report shows that China and Japan continue to wolf down U.S. Treasuries with a vengeance. U.S. Dollar is skying on this news. Poor gold cannot get a break today.

Wed, 12/15/2010 - 10:12 | 807732 SheepDog-One
SheepDog-One's picture

Yea right theyre soppin up our worthless treasuries like crazy sure tell us some more fantasies.

Wed, 12/15/2010 - 10:17 | 807752 Rodent Freikorps
Rodent Freikorps's picture

Sometimes I wonder what idividuals would become if society fell. My guess is you'd make a very successful looter.


Wed, 12/15/2010 - 10:24 | 807777 Everybodys All ...
Everybodys All American's picture

Total bs

Wed, 12/15/2010 - 10:33 | 807802 American Dreams
American Dreams's picture

Why do you even type crap like this - the dollar has gained all of .08%


You are in rare form today HarryRobo


know your enemy

Wed, 12/15/2010 - 10:44 | 807824 Quintus
Quintus's picture

Really?  This is the analysis of the TIC report that I just read

"Strong foreign demand for both government agency bonds and equities is largely offset by slowing foreign demand for Treasuries. Net foreign purchases of long term U.S. securities totaled $27.6 billion in October for the lowest inflow since January"

Nobody's 'Wolfing down' Treasuries except the Fed.

Wed, 12/15/2010 - 12:27 | 808217 Crisismode
Crisismode's picture


Just love it when people post what was actually stated in reports that Robo/Harry quote to suit their own bullshit agendas.

Hey Robo, the TRUTH kinda hurts, doesn't it?

Wed, 12/15/2010 - 10:59 | 807860 CD
CD's picture

Interesting speculation on what China (and possibly Japan) are DOING with those treasuries they are scooping up (h/t T. Ferguson),_The_Game_is_Over.html

Wed, 12/15/2010 - 10:10 | 807725 Confused Indian
Confused Indian's picture

Are we too cynical or governments totally blind or mean?


I mean how can the Govts from Europes and US just worry about the markets pumping them any how, and let everything fail.



Wed, 12/15/2010 - 10:14 | 807736 SheepDog-One
SheepDog-One's picture

Just as long as you know the govts do not give 1 shit about 'the people' and in fact wish you were dead, youre way more enlightened than most.

Wed, 12/15/2010 - 12:36 | 808254 Bob
Bob's picture


The American Civil Liberties Union is suing to compel Uncle Sam “to disclose the legal standard it uses to place U.S. citizens on government kill lists.” The Obama administration has responded by invoking the doctrine of state secrets, effectively claiming that national security demands that these policies be kept hidden. By hiding behind state secrets, the feds don’t even have to explain why the law doesn’t apply to their actions.


Wed, 12/15/2010 - 10:11 | 807730 john milton
john milton's picture

greeks will prolly drink couple bottles of ouzo, then filled them up with napalm and start rioting, destroying monuments etc...I bet we will dive hard to night

Wed, 12/15/2010 - 10:12 | 807731 Internet Tough Guy
Internet Tough Guy's picture

I hope they burn Leo K's vespa.

Wed, 12/15/2010 - 10:19 | 807750 jus_lite_reading
jus_lite_reading's picture

ROTFLMAO!!!!!!!!!! A PINK VESPA, with OBAMA stickers all over it, and a picture of Hairy Wanker in the window, no doubt.

Wed, 12/15/2010 - 10:17 | 807753 SheepDog-One
SheepDog-One's picture

I think he had to sell it for some fallafel.

Wed, 12/15/2010 - 10:13 | 807734 Confused Indian
Confused Indian's picture

US should have a national log now, printed on all dollars as well


"Buy the Dip"

Wed, 12/15/2010 - 10:13 | 807735 TexDenim
TexDenim's picture

This news is way out of proportion to the size of the Greek economy. If Greece was a state in the United States, it would have an economy about the size of Connecticut. Not a big deal in the grand scheme of things.

Wed, 12/15/2010 - 10:21 | 807767 fiatspyder
fiatspyder's picture

Neither was Sarajevo in 1914.

Wed, 12/15/2010 - 10:28 | 807791 Arius
Arius's picture

but the war wasnt about sarayevo was it?

Wed, 12/15/2010 - 10:37 | 807813 fiatspyder
fiatspyder's picture

In a way it was.  Austria trying to hold together a fraying empire on the verge of collapse.  Sound familiar?


OTOH it was also just a big family feud among the blood relatives ruling UK, Germany, Russia etc. that took 10 million lives to settle.

Wed, 12/15/2010 - 10:23 | 807773 Internet Tough Guy
Internet Tough Guy's picture

It might be a big deal to other countries in their monetary union. You know, the ones buying their debt.

Wed, 12/15/2010 - 11:00 | 807863 ZackAttack
ZackAttack's picture

And Ireland's about on a scale with Indiana. So, they're both too small to matter; therefore, no need for a bailout. I agree completely.

Wed, 12/15/2010 - 11:07 | 807888 unununium
unununium's picture

Ah but that's no limit to the amount of derivative bets that can be placed on said economy.

Wed, 12/15/2010 - 10:14 | 807738 plocequ1
plocequ1's picture

Wait,Wait let me guess.. Futures are green.

Wed, 12/15/2010 - 10:19 | 807756 SheepDog-One
SheepDog-One's picture

Not QUITE green yet but still 10 minutes left to open and Im sure they have all the flying pump monkeys on the job.

Wed, 12/15/2010 - 10:20 | 807761 Confused Indian
Confused Indian's picture

They dont bother about the futures anymre specially on the POMO day. Ending is bound to be Green.

Wed, 12/15/2010 - 10:26 | 807784 Cdad
Cdad's picture

If you had more experience selling short, you would not worry about futures being green...especially at a point in time when the roaches are really bustling about and waiting to get out of the SPY...which maybe should be renamed the Roach Motel.  At 1.9 million shares of the Roach Motel sold this morning, there is no conviction on what the futures are or are not saying.

What is more important is that the Euro is juuuuuust starting to lean over the rail after having been force fed some really bad something or another by the criminal syndicate known as Wall Street...and I do believe the EUR/USD is about to blow chunks.

But I was saying...when you are selling up open on complete  governmenty statistical release aftermaths [which is like saying me as I wipe my mouth off after leaning over the bucket and acting like the EUR/USD is about to act], it is good to have discretionary retail stocks up off of the open...especially those priced for stupid...because those can be sold short for sweet dough.

And anyway, the S&P [seperate from the Roach Motel] is figuring out that GOLD and OIL are not its bff anymore.


Wed, 12/15/2010 - 11:04 | 807838 hambone
hambone's picture

Cdad - I don't follow.  Do you not believe the Fed?  Do you question their willingness to go all in?  All stops are being pulled to create money and pass it to PD's. 

I do think there may be a wall at which the future debt becomes so ridiculous that the Fed may not write checks against it.  Might be.  But do you see any Americans rioting?  I do wonder as the debt will soon be $15T and $20T if the Fed will be allowed to purchase the whole kit and kabuttle.  $9 to $10T a year in issuance / rollover might be a bit much but if allowed, they can keep the interest rates as low as they please.  I guess the question is if the dollar won't die of a heart attack from this?

Not that I haven't tried to go short...but this is the Fed's market until something or somebody takes away their credit card.  Til then we march to their orders.  This is a criminal enterprise intent on their work.

Wed, 12/15/2010 - 11:20 | 807950 Cdad
Cdad's picture



I do not march to anyone's beat.  I confess that.  As for the Fed and all, well, wasn't it the case that the Fed's buying was supposed to lower treasury rates?  And haven't the rates done nothing but go up by deviations not seen in our lifetimes?  And wasn't it the rates that that led to austerity that led to the riots in the Eurozone?  This may be a case of front running the front runners....but I don't like to think in ways that are complicated...but rather in terms that are simple.


And so to simplify, a couple things on the near term docket are the EUR/USD blowing chunks...and roaches scurrying out of the Roach Motel.  I thought I made those things clear?  And to be more clear, you really should look at the underlying...especially those underlying issues that have been leadership in the market.  I don't like to toss around tickers or anything, but if you think chunks, roaches, and underlying, I think you can probably understand me.


And anyway, to try to explain infinity creation unit machines gives me a headache...which is probably why the SEC has not gotten to that task just yet.  In the meantime, all we have is our limited brain power, our calculators, and our sense of the things at hand that are OBVIOUS! bad...but I have been losing my patience more and more lately and need to shout sometimes to avoid aneurisms.


As for your assertion that all in on the Fed is a good idea, I could not disagree more because I think most of the criminal syndicate known as Wall Street has already profited from The Bernank about as much as they will be able to, already.  Those days are so numbered now that thinking about it makes me giggle quietly to myself.


But what do I know?  I think guys selling $9 burritos have exactly zero pricing power.  I think 250 for a P/E is absolutely comical.  I think drug companies that constantly fail to get approval for new drug ideas...are really crappy drug companies.  And soon, I'll think that retailers will be in deep crap trouble in this country, too.  Which I guess is to say that I might not know anything, and you should probably consider disregarding me entirely.

Wed, 12/15/2010 - 11:27 | 807986 SheepDog-One
SheepDog-One's picture

'All in on the FED' idea of investing, what people assume is the FED is their friend and will surely give plenty of warning before the central banksters leave them all swinging in the breeze? If people want to trust in the FED, fine go ahead but theyre certainly not your friend, in fact youre whats for dinner.

Wed, 12/15/2010 - 11:38 | 808011 hambone
hambone's picture


we agree on everything - I believe this will end badly, horribly, but I really can't say.  I definitely can't say when.  I wouldn't bet on the Fed but I also wouldn't bet against them (any more).  Fighting the Fed is fighting infinite money, the Warburgs, the Rothschilds, the Rockefellers. 

I appreciate your thinking and worry you will end up like me w/ self inflicted short wounds and going crazy while market flies.  All that matters is that the Fed is seen as legit in US and none of the other big players move against it.  Really have no idea where this goes.

Wed, 12/15/2010 - 11:45 | 808042 Cdad
Cdad's picture

we agree on everything...

Really have no idea where this goes.

I don't get how you could say both of these things together?  I think I really do know where this goes, hambone.  I think they way has been revealed in the Eurozone.  I think the tea leaves have actually assembled into words in my tea cup...and so the reading seems really easy.

As for your confusion on these matters, I wish you well in figuring all that well as your "just in time" exit from these markets. 

Wed, 12/15/2010 - 11:54 | 808090 hambone
hambone's picture

Cdad- I don't own a single stock.  Game is rigged beyond belief.  I wish me well in figuring this out as well.

Wed, 12/15/2010 - 13:28 | 808441 Saxxon
Saxxon's picture

C-Dad, heartwarming thoughts and vivid imagery you produce there . . . but there is just no rhyme or reason.  To my 'short eyes; the market should dive right now, 12:21 p.m. EST - but it could spike out of the blue.

Every single trade loss I have in the last four months has been a short position.  I'm just buying dips on Ag and Au and selling spikes.  Good luck and let us know when you sell this pig.

Wed, 12/15/2010 - 10:18 | 807744 hambone
hambone's picture

US interest expenses for the last 22yrs.  Funny how even though our debt has about quintupled from '88 to '10 ($2.6T to $14T) our interest expense has is only doubled?  I think this tells you how "flexible" the cost of money can be when it is created from nothing.  3% on nothing is still a pretty good return.  Not as good as 6% was on nothing...but then again it's still more total of money coming in.  Of course we only pay half that debt below (other half is owed to ourselves so it's not counted (we pretend it's off gather interest somewhere).

Why would people be mad or not support this system and want to pay off their loans through austerity and lower living standards???

2010 $413B interest expense

2000 $361B interest expense

1988 $214B interest expense

Wed, 12/15/2010 - 10:19 | 807757 jus_lite_reading
jus_lite_reading's picture

Pay no attention. We don't need that money! We give money away to Afrika for AIDS research and to Pakistan for "peace" or whatever. We'll simply print more!

Wed, 12/15/2010 - 10:28 | 807775 hambone
hambone's picture

We citizens of the world are never intended to pay it back...just pay interest on it for perpetuity.  This is how we are controlled and managed.  Banks are made perpetual profits.

Austerity is debt slavery for ultimate control and governance over the people.

No one is allowed to produce what they need and enjoy it - inflation and direct taxation are the means to force participation in the system.

Wed, 12/15/2010 - 11:01 | 807870 jus_lite_reading
jus_lite_reading's picture

Let me just say this- after thorough research on what the banks are really doing, with the gov't help (such as in Greece and Italy, and the US for example) I am really surprised the people have not just told their gov'ts to STFU- effectively shutting down entire countries for weeks at a time. The people are the country and without the people, there are no more corrupt polticians and banks.

Wed, 12/15/2010 - 11:49 | 808058 hambone
hambone's picture

after thorough research

That is the difference.  Cdad, myself, half the other poor souls on ZH could explain why the market shouldn't be doing what it's done, what it's doing, what it's likely to continue doing.  That the gov and banks are ass raping their people.

But the important thing is what is.  Consolidation of power.  Seems those in power are more so now than ever.  The citizenry stupider and less interested than ever.  We are willing to give away more and more rights, decision making, etc.

I cannot change what is and must learn adapt to my new world, as strange as it may be.  I'm not sure what that means yet but I'm not sure I'm ready or know what to do otherwise.

Wed, 12/15/2010 - 13:30 | 808447 Saxxon
Saxxon's picture


Wed, 12/15/2010 - 10:20 | 807762 firstdivision
firstdivision's picture

Now Greece knows how to protest.  Nothing says party like teargas, riot gear, and molotovs.

Wed, 12/15/2010 - 11:02 | 807872 jus_lite_reading
jus_lite_reading's picture

Like this? It will take weeks of this to get anything changed...

Wed, 12/15/2010 - 10:22 | 807765 Rodent Freikorps
Rodent Freikorps's picture

Yawn. When they hang someone, let me know.

Wed, 12/15/2010 - 10:58 | 807853 Number 156
Number 156's picture

...upside down, by their heels.

Wed, 12/15/2010 - 13:25 | 808432 orgonor
orgonor's picture

not hanged yet..but closing in...

this is a former minister..champion of energy de-regulation and more

Wed, 12/15/2010 - 10:22 | 807770 Confused Indian
Confused Indian's picture

Charts to watch these days are GBPUSD and EURUSD

ECB is too busy these days

Wed, 12/15/2010 - 10:23 | 807772 Caviar Emptor
Caviar Emptor's picture

It's all coming apart. Just wait till civil war in Belgium. The current economic solution proposed by TPTB is getting a firm "NO!" from the streets. It's untenable because everything you need has to go up in price, everything you own has to go down, just so the insolvent nations and banks can open the doors in the morning. 

It's collapsing....collapsing....

Wed, 12/15/2010 - 10:28 | 807786 George Costanza
George Costanza's picture

just think of all the jobs being created to work in the security and armed forces in Greece.

Wed, 12/15/2010 - 10:28 | 807794 Canucklehead
Canucklehead's picture

... Buy the Dip...

In a short answer, that is the smartest move... for now.

Europe is over-banked.  The little countries have banking systems that are simply too big to be supported by their respective countries.  There needs to be a shake-out and a consolidation within the European banking system.  That means the small countries' banks will be bought out by Germany, France, and Britain.  Will the little countries stand for that loss of sovereignty?  The value in Euro-bond discussions revolve around this loss of Sovereignty. 

If Germany accepts the Euro-bond crap, expect a big exodus out of the Euro and into American equities.  Why?  Relative value. 

If Germany does not create the Deustchmark, the euro will drop like a rock against the dollar.  That allows significant money printing by the Fed to sop up the extra demand.  The American economy will be recharged by European wealth.  After the politics within Europe beat all parties up regarding sovereignty, you can buy Europe for a few freshly printed US dollars.

Everyone will be happy.  The dollar will reign supreme and the subjects of Europe will have new overlords who hopefully will look out for European interests.

Wed, 12/15/2010 - 10:29 | 807795 Tanz der Lemminge
Tanz der Lemminge's picture

How much longer before the police switch sides?

Thu, 12/16/2010 - 02:57 | 807833 fallst
fallst's picture

Any who aren't laid off are fuming about pensions.


Wed, 12/15/2010 - 10:33 | 807801 Mr.Kowalski
Mr.Kowalski's picture

These stvpid Greek serfs need to remember that their welfare comes secondary to bank profits. Indentured servitude is what's best for them.

Wed, 12/15/2010 - 10:41 | 807817 MacedonianGlory
MacedonianGlory's picture

Greeks strike today and demonstrate peacefully but those who riot are mercenaries of a socialist army.

The rioters support the Socialists and the Bankers creating havoc so that no one can strike or demonstrate against the Gvnt.

It's a plot against the Greek people by the Socialists

Wed, 12/15/2010 - 13:09 | 808371 Rodent Freikorps
Rodent Freikorps's picture

Seems to be working, then. Perhaps the Greek people could get off their ass and own this.

Wed, 12/15/2010 - 10:41 | 807820 The Pierogi King
The Pierogi King's picture

I guess that means they will probably default even sooner - hope you are not holding the bonds!

Wed, 12/15/2010 - 10:42 | 807821 Jason T
Jason T's picture

Russia Times gets all the best footage of these events... I absolutely love that there are no annoying voices in the backround. They just cut the fat and give you the meat.

Wed, 12/15/2010 - 10:59 | 807859 hedgeless_horseman
hedgeless_horseman's picture

The bald man with a bloody face at the end looks like a banker.  No?

Wed, 12/15/2010 - 11:19 | 807924 CD
CD's picture

I believe that would be:

"The former Development Minister Costis Hatzidakis was attacked by protesters outside a luxury hotel. He was escorted, bleeding from the scene as his attackers yelled "thieves" at him."


Which is to say yes, I guess you are probably right.

Wed, 12/15/2010 - 11:09 | 807886 tonyw
tonyw's picture

You can see this on the BBC with commentary at:

the guy beaten up was former minister Kostis Hatzidakis.


Wed, 12/15/2010 - 10:47 | 807829 Confused Indian
Confused Indian's picture

History books of the future (if there will be one like that) will have a dedicated section on Ben Bernanke on the same lines as we have on Hitler now. It would say "Ben - The man who was obsessed with printing money".



Wed, 12/15/2010 - 10:55 | 807847 Confused Indian
Confused Indian's picture

No wonder if QEs will be called the atom bombs of the future. And every country will be busy piling up those as a deterrent

Wed, 12/15/2010 - 10:56 | 807850 Number 156
Number 156's picture



Wed, 12/15/2010 - 10:57 | 807851 vainamoinen
vainamoinen's picture

I was in Athens for the last strike/demonstration on Thanksgiving Day. Strolled amongst the riot police in downtown as the protesters walked by - reminiscing about the early 70's in the USA.

The on the ground report I got from a US citizen living in Greece indicates the Greek people are feeling the austerity big time.

Meanwhile in the USA Best Buy is in the tank because, as my credit card friends tell me, they initiated a 15% restocking fee on returned goods. Why? - my guess is that zombie consumers were bringing back too much "stuff" they couldn't really afford that had been bought on impulse purchases.

Stock market or no stock market - the $'s draining out of the western economic system into the hands of the financial oligarches.

Isn't it fun? 


Wed, 12/15/2010 - 12:43 | 808271 Bob
Bob's picture

They've always had a 15% restocking fee, which is a strong argument for buying at Walmart, which gives full credit for 14 days on computers and electronics.  Save your boxes

Wed, 12/15/2010 - 10:57 | 807854 Gimp
Gimp's picture

Irony is that the Russian Times(RT) is now pure and honest news and the great American media outlets are controlled and manipulated crap...Funny how the world has changed since the cold war ended...Did we win?

Wed, 12/15/2010 - 11:17 | 807933 Smiley
Smiley's picture

I've caught myself watching RT news clips more and more these days.  For one the females are often much hotter than their American broadcast counterparts.  Second, I actually get a sense that a basic attempt at fact finding was attempted before they report on their stories.

Wed, 12/15/2010 - 13:21 | 808411 margaris
margaris's picture

Indeed, RT is my priority news feed.

By the way, its called "Russia Today".

Thu, 12/16/2010 - 02:52 | 810925 Lord Koos
Lord Koos's picture

Al Jazeera has some pretty good reporting too.

Wed, 12/15/2010 - 10:59 | 807858 Caviar Emptor
Caviar Emptor's picture

I don't think everyone is getting what's going on here: the obvious is that protests and disorder are metastasizing around Europe, and soon the globe. What's less obvious is why the passion, the violence and the battle lines? 

The demonstrations and riots in London, Dublin, Paris, Rome, Athens, Bangkok and smaller ones elsewhere are a response to The New Economic Solution that the global central bankers have devised in conjunction with their bankster brethren. The response? A resounding "NO!". 

Tuition hikes, pension cuts were just the surface of the iceberg. What people are protesting is economic injustice at the hands of the banksters and the resulting restrictions on freedom.

The global banking cabal has set up a no win situation for the global middle class: Biflation, where everything you need goes up and everything you own goes down. That has become glaringly obvious to the man and woman on the street. Why did this happen? In the name of saving the global big banks which are all intertwined in incestuous pyramid schemes (aka Ponzis) that keep their wallets fat despite being insolvent, incompetent and in many cases criminal. 

Further, there is a distinct change in the political tone aimed at preserving the tenuous New Economic Solution (post-post-Bretton Woods): repression of people (Julian Assange), suppression of news (news blackouts from Greece today, Afghanistan, Yemen and Iraq almost any given day) and other action all aimed at supporting the fragile system pieced together among bankrupt nations and banks. 

It can't hold. And that's why you're going to see fireworks. 

Wed, 12/15/2010 - 19:26 | 809904 RockyRacoon
RockyRacoon's picture

You got it.   But fireworks are for celebrations.  I was hoping for something with a little more bang.

Wed, 12/15/2010 - 11:05 | 807881 Fearless Rick
Fearless Rick's picture

Molotov Moussaka, bitchez!

Wed, 12/15/2010 - 11:08 | 807896 Miramanee
Miramanee's picture

The end of the middle class...everywhere.

Wed, 12/15/2010 - 11:24 | 807967 unununium
unununium's picture

I'm heading to the hardware store for some pliers.

Wed, 12/15/2010 - 11:11 | 807906 johnnymustardseed
johnnymustardseed's picture
 People will fight a change in their standard of living. It will happen here soon and it is going to be real ugly.
Wed, 12/15/2010 - 11:30 | 807993 SheepDog-One
SheepDog-One's picture

YEP its coming here next and soon.

Wed, 12/15/2010 - 11:40 | 808026 hedgeless_horseman
hedgeless_horseman's picture

In Ireland they use Armalites and C4 instead of fire extinguishers.  In Spain, they just piss in the export Sherry.

Wed, 12/15/2010 - 11:12 | 807911 virgilcaine
virgilcaine's picture

Any sign of the greek riot dog?

Wed, 12/15/2010 - 11:16 | 807926 Mr.Kowalski
Mr.Kowalski's picture

"That means the small countries' banks will be bought out by Germany, France, and Britain"

Would YOU buy one of these massively overleveraged banks If so, I have a bridge I'm selling..


Wed, 12/15/2010 - 19:30 | 809934 RockyRacoon
RockyRacoon's picture

Hey, would ya trade that bridge for some swampland in Florida?

Wed, 12/15/2010 - 11:22 | 807954 Smiley
Smiley's picture

Where do these idiots think the money is going to come from? What do they really expect to accomplish by running around screaming "GIMME GIMME GIMME?"  It looks like all of Europe is heading towards a giant collective temper tantrum...AGAIN.


Wed, 12/15/2010 - 11:29 | 807982 macroeconomist
macroeconomist's picture

The money doesn't have the come from anywhere. You just default and tell those bloodsuckers to fuck off.

And if you wont default, I'll tell you where the money must come from: From taxes on wealth, taxes on bankers, not from shutting down schools and hospitals..

You people  remind me this quote from the matrix:

"And many of them are so inured, so hopelessly dependent on the system, that they will fight to protect it"

This is the success of this system: Turn people against each other rather than the true enemies. Divide and conquer..What a shame there are people with this mindset even in here...


Wed, 12/15/2010 - 11:38 | 808021 Smiley
Smiley's picture

I think you misread me; no support for the system here.  I would rather see it burned to the ground and started from fresh.  The constant parade of people demanding money for nothing though is really getting old.  My problem with the protestors is that they protest for free money; not responsible governmentLAME!

Wed, 12/15/2010 - 12:23 | 808197 macroeconomist
macroeconomist's picture

I'm sorry if I misunderstood indeed. As far as I see , noone wants free money, these people are fighting against all those austerity measures regarding wages, pensions, shutting down schools and hospitals as I said before. Greece has the lowest wages in Europe already, a very high unemployment. Nobody wants free money, they just want to keep their jobs, and their already low wages..Why not defaulting and imposing a wealth tax rather than austerity? 

Wed, 12/15/2010 - 13:52 | 808536 Smiley
Smiley's picture

I don't think the problem is so much as the wealthy top 5%.  I think the main problem is establishing societies where the central government is tasked with being the main employer and caretaker of the populace.  Every society in history that relied on its central government to employ and directly compensate the majority of its citizenry has collapsed under its own weight; EVERY SINGLE ONE, EVERY SINGLE TIME.  Having central banks in place that charge interest to issue currency exasperates the problem further:  Isn’t that what treasuries are for anyway?


Thu, 12/16/2010 - 02:55 | 810928 Lord Koos
Lord Koos's picture

Why do you have the conclusion that people in Greece want money for nothing?  They want money for doing their work.

Wed, 12/15/2010 - 11:32 | 808002 SheepDog-One
SheepDog-One's picture

'The money'? LOL, there is no money, fiat currency has always simply been a peasantry control mechanism. Fact is all the people in the world could live nice lifestyles for very little but thats not the way the 'elites' PTB or whatever will have it, must be them living way up on top with the peasantry far below. Same old shit different millenium.

Wed, 12/15/2010 - 11:23 | 807960 macroeconomist
macroeconomist's picture

Ministry of finance set on fire!!!! Whoaaaaaaa

Wed, 12/15/2010 - 11:59 | 808105 johnnymustardseed
johnnymustardseed's picture

macroeconomist, thanks for that post. I showed that video to my wife. She finally gets it... she understands what is going to happen here. I have been planning for this for years, I knew taking the dollar off the gold standard was a bad idea. I keep thinking about prepping and wonder what I am forgetting..

Wed, 12/15/2010 - 12:18 | 808178 macroeconomist
macroeconomist's picture

My pleasure Johny, sent a chill down my spine as well..Chaos is on the way, and it will be hard to stop it this time because people are really pissed off

Wed, 12/15/2010 - 12:30 | 808229 MacedonianGlory
MacedonianGlory's picture

The ones that hold the molotov bombs are not strikers but an army of mercenaries that try to scare people from demonstrating against the Socialist Gvnt.

Wed, 12/15/2010 - 13:07 | 808363 macroeconomist
macroeconomist's picture

Utter bollocks. 

I will have to write a whole piece for zerohedge so that clueless Americans learn what socialism is.









Thu, 12/16/2010 - 02:59 | 810930 Lord Koos
Lord Koos's picture

Thank you.

Wall Street and Bankers' profits are what is socialized in this country yet people would rather whine about postal workers and medicaid.

Wed, 12/15/2010 - 12:14 | 808153 Coldfire
Coldfire's picture

Firebombing the finance ministry? It's a start. Let the banksters eat shit.

Wed, 12/15/2010 - 12:26 | 808184 hambone
hambone's picture

Banksters having a good chuckle over this...let the peasants burn some buildings to blow off some steam.  It's cheap entertainment and doesn't change a damn thing.  Poor citizens fighting the poor cops (not a banker in sight).

Now go to gold based money, take away fractional reserves, go to the bankers homes an throw the mahlatoff cocktails in their living room...that could ruin their day.

Wed, 12/15/2010 - 12:53 | 808315 Kali
Kali's picture

Yes, throw those molotovs in their living room, because what is happening in Greece cannot happen here.  Those drones and sonic and microwave blasters our military and genius scientists developed for "war" will be used on our population to keep them in control.  and I have no doubt our police would have no qualms about shooting protesters dead, hell, they would love the party so they can use all those new toys the gov keeps giving them.  Woe is us.

Think it will be more like the movie "Brazil", "terrorists" striking at wealthy dining in restaurants, where screens will be immediately erected so as not to insult the eyes of the surviving elite eating their dinners.

Fascism has been perfected since WWII, think they will be a lot more successful this time.

Wed, 12/15/2010 - 13:32 | 808450 honestann
honestann's picture

What you say is very true about what would happen in the USSA.  However...

After people get gunned down in droves by the paid thugs of the predator class, the question is whether americans would wise up and adopt smart tactics.

For example, you don't go after paid thugs at riots, you take them out when they are alone.  In fact, you don't go after the paid thugs, you go after the top of the pyramid, the heads of the medusa.

You don't go after a bankster or predator-that-be that just voiced an obscene opinion or threat in the media, you unexpectedly burn down the homes of a few dozen others.  You stay out of their crosshairs, and strike where they don't expect, and they are not prepared.  Gotta be smart... or you're dead.

Wed, 12/15/2010 - 15:52 | 809040 Kali
Kali's picture

Precisely.  It will be a guerrilla war, you will not be able to take on the monster head on.  Have you seen the movie?  I always thought it was quite prescient.  DeNiro as the guerrilla plumber was so funny, the kids stripping the car-hilarious.  The stifling bureacracy, the sadistic Ministry of Truth.  We are almost there.

Wed, 12/15/2010 - 19:39 | 809971 RockyRacoon
RockyRacoon's picture

I was just imagining how all that would have gone over in NYC.  Ha!  One Molotov cocktail would be the last thing any of them ever did.  You are right about the guerrilla warfare. 

Wed, 12/15/2010 - 20:23 | 810107 honestann
honestann's picture

Never saw it.  What movie was that?

Wed, 12/15/2010 - 21:18 | 810256 StychoKiller
StychoKiller's picture


Sat, 12/18/2010 - 12:35 | 815426 RockyRacoon
RockyRacoon's picture

Brazil  (1985) 

Part social commentary, part outrageous fantasy, Terry Gilliam's black comedy set in an Orwellian future stars Jonathan Pryce as a daydreaming civil servant who, through one bureaucratic error after another, is mistaken for an enemy of the state. By turns grimly disturbing and darkly hilarious, the wildly inventive, visually arresting Oscar-nominated satire co-stars Katherine Helmond and Robert De Niro as a renegade repairman.

Thu, 12/16/2010 - 03:04 | 810933 Lord Koos
Lord Koos's picture

Don't forget cyber warfare, something they still can't completely control.  Also it will be hard to keep things secret when everyone is walking around with a digital camera in their pocket.

I am impressed by the restraint of the Greek security forces.  American cops and mercenaries will think nothing of shooting down the citizenry.


Wed, 12/15/2010 - 13:22 | 808416 orgonor
orgonor's picture


a day to remember  for former minister,staunch IMF supporter and   champion of energy de-regulation in Greece...Mr Chatzidakis




Wed, 12/15/2010 - 13:34 | 808438 honestann
honestann's picture

You tell them, residents of Greece!

Far past time for americans to "just say no" to banksters.

End fiat.
End fake.
End fraud.
End fiction.
End fantasy.
End federal reserve.
End fractional reserve practices.

Wed, 12/15/2010 - 13:36 | 808472 Misthos
Misthos's picture

I'm in Greece right now, but on one of the islands.  Strikes nationwide, many stores closed.  A former government minister was just recently attacked.

It's getting pretty bad in Athens.


Wed, 12/15/2010 - 13:44 | 808502 DavidRicardo
DavidRicardo's picture

All the Greek men should just fuck each other.  That's how they resolved things in the old days.

Thu, 12/16/2010 - 03:07 | 810934 Lord Koos
Lord Koos's picture

In the post-modern world, the bankers just fuck everyone.

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