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Xirong at the gates!
I believe a Greek Tragedy tale would be more appropriate.
A similar scheme worked well for Lucent Technologies, until one day it didn't. But we're so much smarter now, and this time it's different...
Triple digit gain on that news after CNBC spins it into "Chinese confidence shown with monetary support for Greece".
Time to crank up the machines and start the party!
China purchases austere slave shipping force, film at 11.
I'm seeing China forgetting an interest payment for an air base that will make the Joint non-smoking Chiefs' head spin.
Naw, won't disturb the Joint Chiefs at all - the curious thing about Greece is that it isn't strategically important to anyone other than the Greeks. The only area of importance around there is the Dardanelles, and Turkey controls them.
Papandreou's Gvnt is a total failure.
One year ago Papandreou was protesting against Chinese.
Now he begs for cash.
He is the cause of Greece's destruction
Remember this?: http://www.youtube.com/watch?v=ocHPd7FWKrk
Really? You're blaming him and not the years of useless, lying and corrupt government they have had?
China, is /has bought up everything for sale, as far as it's needs for the next 50yrs+.
Meanwhile, back at the SHITEHEAD hole, we print.
One thing the Rare Earth lockdown did, was wake up the Pentagon.
We have HUGE resources of those RE's,just up until now, it's not been a priority to spend the cash to mine them.
Well, game on now.
Interesting... What's a good way to play this "game"
"we" bought India...remember the nuclear deal??? the biggest "democracy" with cast system still operating. That's not insignificant.
Yep, but India was actually bought, lock-stock and barrel a long time ago. The Unclear, unpopular, nuclear deal is just the icing on the take-over cake.
Also, India is not a democracy. It is a kleptocray of the worst kind. A thug-ocracy even. Some said it best on a ZH a while ago, China is the factory to the world and india is it's errand running back-office boy.
And the caste system does not exist as it was meant to. Like all other institutions (cultural or otherwise), it's current form is a perversion of it's origins.
The Petrobas shell game has also been played over and over by the developed world on India and the rest of it's "third' world ilk(what is the second world?, never found the answer to that one). Japan Overseas Development bank, USAID and it's ilk have been givign these loans to India for decades. Caveat, buy Japanese or American crap with the same loans.
Funny, begger nations giving other begger nations loans.
Such a joke, International "Development" aid. Golden chains at best, hangman's noose at worst.
Keep yer money, you need it!
The term Second World was used to sum up the communist countries, i.e. the Soviet block, China and Vietnam.
i keep forgetting to mention "you" printed enough money to monetize Iraq's wealth and to be used by it's citizens...
I believe Greece was supposed to bring their budget in line with the M treaty but were supposed to still meet their defense budget spending requirements....? Idiotic.
This is a very interesting development. Greece would be "siding" with China rather than the Western defense monopoly.
This is no different than the World Bank, USAID and GS usual suspects in being Economic Hitmen in the developing world since WW2. Greece, a member of NATO, yada yada, is now going down the road of Guinea Bissau. They will also be joining the USA. Folks forget we make loans to Panama, Nicaragua, etc. on condition that they buy American M-16s, Humvees and Bell H-1 spare parts.
While the EHM story you link to is entirely legitimate (from my POV), I don't see sinister motives parallel to the Chinese action.
They are merely engaged in practical alliance building, AFAICS.
Need some swampland in AZ?
Don't be forgetting we pay BushArabia a healthy chunk of the extra 40-50 USD per barrel times 6 million per day so the white-robed Wahabbis can spend in on Eisenhower's warned-about Military-Industrial Complex.
60 Billion was the last deal announced September 2010.
The ChiComs side with western friendly nations while we side with IslamoFascists. All the while, they continue to pick up hard assets with which to dominate the future world. Our vaunted military will not carry the day this time. Man are we stupid.
Another loser for the Greek people who will now need permanent welfare
I have said before they should turn the Acropolis into a Chinese sauna.
Ni Hao (A Gold Farmers Story)
Timothy Geithner Open To New Global Currency
If you cannot see thru this charade, there is no hope for you.
Vendor financing. I can't wait till Greece fu*cks China.
They are gonna have to go BIG, to beat us at that game..........we WIN.
It might be a tad difficult to know who the fu*kee or the fu*ker is.
But certainly Wen will be introduced to Greek secks.
No ticky no laundry, bossman
Actually this was a bailout of the EU... to keep Greece from defaulting and bringing down the whole house of cards.
Ding, ding, ding ... correct answer!
china to greece
"We're from china and we're here to help."
WHO IS KIDDING WHO
Chinese Trojan horse...the fall of Troy.
How sad for the proud Greek seafaring, ship-building nation.
The Chinese use a Trojan horse for the final Act of the Greek tragedy, a downward spiral noted in 2000:
"The Greek shipbuilding industry, like the wider European industry, is in crisis due to competition from countries with low labour costs. Greek shipyards have been forced to make a series of structural changes which have resulted in lower employment levels, but which are gradually creating the conditions for Greek shipyards profitably to re-enter international markets. We examine the situation and prospects of Greek shipbuilding in early 2000, and the positions of trade unions and employers."
How sad for the proud Greek seafaring nation.
"The Greeks, more than any other people in the world, have remained, during their entire, very long history, mariners without interruption, they have loved the sea, they have thought of it as a beautiful element, and they believed it had godlike powers; whilst the others, such as the Phoenicians and the Romans, used it to conquer other people. The Greeks considered the sea a friendly environment and they were happy with the sea's caprices. Very quickly they came to realize that the sea could offer them a way of life, together with the joy of freedom and an increasing freedom of spirit."
Timeo Chinos et dona ferentes
(I fear the Chinese even when they make gifts)
I watch all your stuff! Dump Wallace and we can run away together! The Invisible Hand never stops scratching ears...I promise.
By the way...Greece must be destroyed. Wait, I don't have to say that, the Greeks will take care of it without any encouragement from me.
The US probably won't make it. Germany won't make it. China is doomed. But when Greece slides back into the Stone Age, no one, especially the Greeks, will notice or care. It's all been downhill since 479 BC (Plataea) and once the welfare from the Northern Europeans runs out, Greece is toast. I wonder if the Iranians would have any interest this time?...Nah, I'madinnerjacket is way to smart for that...
FT - Greeks rush through law giving tax amnesties
By Kerin Hope in Athens and David Oakley in London
Published: September 30 2010 21:49 | Last updated: September 30
Greece’s parliament has pushed through legislation that in effect grants a tax amnesty to millions of citizens, in a move at odds with organisations overseeing the country’s bail-out.
The law will allow the government to collect about €2bn ($3bn) overthe next two years, far short of an estimated backlog of unpaid taxes over the last decade of about €35bn.
Smartest move ever...China will make a killing and so will the Norwegians. The rest of the world is too worried about reputation risk to invest in Greece, so as usual, they will miss out. Ten-year Greek bonds are yielding 11%! What a fucking joke! I just visited the country and while things are bad, they are nowhere near as bad as the US media claims. And China should forge alliances with Greece, use their ports as a hub into Europe and develop solar farms to export energy to the all of Europe. I am long China, Chinese solars, Greek bonds and all you drama queens over here will be proven wrong!!!
Leo, did they not just go belly up? They needed a huge bailout a few months ago & the banks are still insolvent ? They need outside financing to service this debt ?
But the media is wrong? <scratching my head>
And they got the bailout, implemented austerity measures, and they will eventually come back stronger. My point is that the current market yields on Greek bonds are an abomination. No US or Canadian pension fund has the guts to invest in Greek debt, so China is making the right move. They will profit from this and other projects they're financing in Greece.
Leo, i will bet you, that in a maximum of 3 years, Greece will in some form or another default on their sovereign debt. There will be a restructring.
And come back stronger, how?
Greeks always come back stronger when the rest of the world counts them down...it's in our DNA to persevere and come back stronger. ;)
And they got the bailout, implemented austerity measures, and they will eventually come back stronger.
And they got the bailout, implemented austerity measures, and they will eventually come back stronger.
How can they come back when the gdp will drop with austerity and tax issues persist the austerity will not help this issue. They have the largest black market going next to turkey, will the rest of europe keep giving hard earned saving while the greek people run from taxation? Europe does not have a long history of *one big happy family*.
"will the rest of europe keep giving hard earned saving while the greek people run from taxation?"
Pick me ... I know this one! ... ummmm, yes!
It is physically impossible for the Greeks to pay back their debts - there aren't enough Greeks to do it. Greece's population is set for a steep decline unless Greek women suddenly decide to have a lot of children...and even then it would take a generation for things to turn around in demographics.
Now, if your plan is to just buy some Greek bonds now and hope to unload them on an even greater fool a year or so down the road, then great...but Greece will default. There is no way out.
Leo: "We Greeks--especially we Canadian Greeks--are just genetically superior to the rest of you mongrels."
Suddenly I realize that Leo Papadopolous is an obnoxious jerk with a victim complex.
The "bailout" is hardly a bailout, Leo. It just sank Greece deeper in debt and kicked the grenade down the road. And Papandreou just shot the Greek shipbuilders to make room for COSCO. China will end up holding Greece's leash.
Leo is absolutely right, the Greeks will bounce back... so it will at least appear... Michael Lewis' article in Vanity Fair has a few pointers of how it would be done...
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