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Ze Germans: "Only The IMF Can Help Greece"

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Sun, 02/28/2010 - 12:47 | 248726 Stuart
Stuart's picture

Like H1N1, it's just a matter of time before that shit spreads to the states (US).  

Sun, 02/28/2010 - 15:54 | 248881 CombustibleAssets
CombustibleAssets's picture

Somebody else referred to the Greek problem as a virus. It certainly seems to be contagious.

Sun, 02/28/2010 - 23:15 | 249134 Pamela Anderson
Pamela Anderson's picture

Obama should force Goldman Sachs to bailout Greece.

Sun, 02/28/2010 - 13:03 | 248731 pros
pros's picture

Issing works for Goldman


Now you know where the Grosse Scheisse has placed its bets...

making it too easy.

Sun, 02/28/2010 - 14:40 | 248833 Anonymous
Anonymous's picture

can I get another hint ? GS being long a greek failure ?
or short /DX on a Greek bailout ? I'm soooo confused ugh

Sun, 02/28/2010 - 13:04 | 248733 10044
10044's picture

German citizens are angry over greece' bailout by germany. American citizens think greece is a movie with Travolta and think the IMF is an anti-depressant.
Fcking pathetic, viva American idol

Sun, 02/28/2010 - 14:25 | 248810 perchprism
perchprism's picture


I like Crystal Bowersox to win American Idol this year.  Her teeth are rotten, but they're already working on that problem.  Sing it, baby!!  Grease is the word!

Sun, 02/28/2010 - 15:01 | 248850 perchprism
perchprism's picture


Akshully, I spent all morning tilling my garden here in NC.  I set out 16 brocolli plants, 120 red and yellow onions, and 4 rows of spinach!  Pontiac red potatoes and carrots next week.  I should get over 1,000 lbs of potatoes this year, all out of my little garden. 

I don't give a good god damn about Greece. I'm just about ready for anything that might come my way.  Almost, but not quite.  Need to get a few hundred more canning jars and a few thousand lids.  Lids can't be reused, and they're damned expensive, too. 

Got a load of heirloom seeds.  Black beans, corn, and tomatoes.  Gonna plant yellow bell peppers, straight neck squash, and Parks Whopper (hybrid variety) tomatoes this year.  Did you know dried beans will keep 30 years if stored properly? 

Got an AR-15 Friday.  Bought it for myself for my birthday (turned 50 on Valentine's Day).  Handmade in Elizabethton, NC.  Nice weapon.

Got the makings of a manual handpump for my well.  I'll install it if it looks like the shit's gonna hit the fan.  My only regret is I'm not off-grid.  If I had the money, I'd set up solar panels for 3,000 watts on a 24-V battery bank.  Looking at $20K at least to do it right, getting the panels off of Ebay.  The panels are about $800 each for 200 watts.  I can dream, can't I?

I was in the Air Force during the Carter Administration.  Shit was looking real bad then.  It's starting to look worse, now.  If gas shoots up to $4/gallon + anytime soon, look for things to get crappy in a hurry.  We keep our three vehicles topped off, and have 30 gallons in the barn, in 5-gallon cans.  93 octane.  I figure if Israel attacks Iran, I can go out and buy some more in a hurry.  Here's a link to 100 items you need when the SHTF:



Don't forget the silver and gold, bitches!!





Sun, 02/28/2010 - 15:33 | 248870 Anonymous
Anonymous's picture

That sounds wonderful... the garden that is ;-)
Assuming that your jars are glas, have you considered the oldfashioned way. My grandmother used this special Waxed Crispy Paper - I have no clue what the proper name is in English - that is put over the top of the glass and strapped tight with string, while the contents are still warm. If done properly, the jar will develop vacuum, when the contents cool - keeping it air tight until use.

Sun, 02/28/2010 - 15:42 | 248875 defender
defender's picture

check out this site: http://sunelec.com/

might make that solar setup a little more affordable.  In fact they have entire grid tie systems for lower cost per watt than the amount that you gave for the solar panels.  Good luck with your gardening, sounds like you have your work cut out for you.

Sun, 02/28/2010 - 19:12 | 248995 Hephasteus
Hephasteus's picture

Everybody makes the solar mistake. Some power is better than no power. Set up a 600 to 800 watt solar system. Use it to reduce electricity bills now use it to live off of later.

Sun, 02/28/2010 - 20:41 | 249064 Anonymous
Anonymous's picture

"I don't give a good god damn about Greece" - insert anyone else besides myself??..... and therein lies the problem.

Sun, 02/28/2010 - 21:13 | 249081 Anonymous
Anonymous's picture

Potatoes set their entire fruitation at 70-90 days, adequate amounts of n-p-k at this stage will insure a bountiful harvest.

Sun, 02/28/2010 - 21:19 | 249083 Hulk
Hulk's picture

Congrats on the garden.You will have to
try a few hens. The eggs are great and the entertainment value is priceless.
We installed one of the Lehman hand pumps and
are happy.
Check out First Solar. They are down to
2 bucks per watt
For Batteries look at edison cells
Edison cells have nickel and iron plates with
a sodium hydroxide electrolyte and last 80 to
100 years. Triple the price of lead acid though
We standardized on AR 10's. Springfield M1A's and Rock River Arms LAR8 A4's with holosites
Sorry you had to serve under Carter!
Gold Bitches! Not sure I quite understand that
term, perhaps someone can explain it to me!
(but I get the general thrust of the term)

Sun, 02/28/2010 - 21:34 | 249088 Anonymous
Anonymous's picture

I am with you brother, getting ready to break ground here in Missouri. Whole family and my BF think I am nuts. Very weird thing happened today, was at ALDI buying food pantry supplies, (always figure I can donate those items to a food pantry if the Sh*t does not hit the fan), kid at counter asks me if I am starting a pantry. I shyly said yes, he then says, "wow we have at least 1-2 a day stocking up now. We can always tell the un-regular shoppers, they read the labels. My coworkers and I can't figure it out, all these yuppie types coming in here now. Any idea why this is happening?" I told him was probably the economy and people purchasing items and donating to churchs. My neighbor said that they had 187 families come to the church today to recieve food. When it hits here it's gonna be real bad, real bad.

Mon, 03/01/2010 - 10:14 | 249351 mouser98
mouser98's picture


We planted our potatoes last weekend.  Just finished getting the chicken coop ready for the biddies.  Buying a shipping container for bulk storage.  Selling the house and buying a used mobile home to put on family land (where the potatoes and chickens are).  Circle the wagons.

I think just the fact that we are talking about survival preparedness on a financial blog says a lot.


Sun, 02/28/2010 - 13:04 | 248734 buzzsaw99
buzzsaw99's picture

So you want that we should spank your unruly child for you?

Sun, 02/28/2010 - 13:05 | 248736 bugs_
bugs_'s picture

Hopefully the IMF will suggest its an ECB problem, but seriously did

anyone expect the EU to actually deal with an actual problem in

their back yard?

Sun, 02/28/2010 - 13:08 | 248742 Going Down
Going Down's picture




"only the International Monetary Fund is the right institution to save Greece [and Portugal, Ireland, Spain....] from going bankrupt."


The IMF has tripled its lending capacity over the past year, to 850 billion dollars, thanks to loans from member countries. The expanded financial resources "should be sufficient to meet demand in the coming period," he said.




Sun, 02/28/2010 - 13:23 | 248749 tenaciousj
tenaciousj's picture

If the EU isn't responsible for the EU, then what is the purpose of the EU and/or the Euro?

Sun, 02/28/2010 - 20:26 | 249053 Anonymous
Anonymous's picture

Well tenaciousj looks to me Greece has to be responsible for their mess to begin with then we can talk about EU or anyone else. The EU monetary union does not contemplate huge deficits - prudence is the price of admission to the club.

This is similar to NYC getting the stick a few decades ago - encourages prudence.
Looks to me like the Germans are not schmucks to get stuck with the tab for a Greek Party and telling the Greeks to get Greek-ed. Unlike in the US were the tax payer is getting stuck will all the tabs.

Sun, 02/28/2010 - 13:29 | 248763 Prof Gulliver
Prof Gulliver's picture

The situation will be solved this week using the J. Wellington Wimpy solution. The Germans will bail out Greece, and all the Greeks had to say is, "I would gladly cut our deficit Tuesday for 25 billion euros today." Dow 12,000! S&P 1,300! Who cares what happens one year from now? Or even one month from now?

Sun, 02/28/2010 - 22:47 | 249116 Anonymous
Anonymous's picture

It's already week to week at this point, and looks to be day by day starting, oh, maybe tomorrow.

Sun, 02/28/2010 - 13:32 | 248766 Segestan
Segestan's picture

OT-- There was a Pirate captian , who was sighted by a Royal vessal , who preceeded to attack the pirate vessal, the pirate captain turned to his servant and told him to go quickly and bring him his Red shirt, after the battle the servant asked the captain why he wanted a red shirt; so that the crew wouldn't see me bleed. After awhile a fleet of Royal vessal were sighted , the captian told his servant to bring me my brown pants.

Sun, 02/28/2010 - 13:41 | 248774 Anonymous
Anonymous's picture

Greece wants an easy way out which means an EU bailout not the IMF. If the can't get it then they will tell the EU to stick their euros where the sun doesn't shine and go back to their own currency. This will be the end of the euro.

Sun, 02/28/2010 - 16:13 | 248897 Anonymous
Anonymous's picture

No, they won't. Reinstating the Drachma will take Greece back to the Middle Ages, so my best guess is when Merkel asks them to jump, their reply will be "how high?"

And it won't be the end of the Euro either. Sure, the Euro will get weaker short term, but in the long term the Euro will prove itself as being a hard currency. That is, if they can deal with Spain, Italy, Ireland, Portugal next. The latter will be the true test for the Euro. Greece? Who cares.

Mon, 03/01/2010 - 06:53 | 249285 Mr Shush
Mr Shush's picture

The Greek government can say "how high" all it wants; I'm far from convinced the Greek populace (and the public sector unions in particular) will allow it to actually do anything of the sort.

Sun, 02/28/2010 - 16:35 | 248908 DoChenRollingBearing
DoChenRollingBearing's picture

If it is the IMF who bails Greece out, the Fund BETTER be as tough on Greece as they usually are on everyone else they bail out.  Because that is mostly USA money on the line.

The Greek riots will be fun to watch if that happens.

My thinking, however, is that Europe (Germany) will wind up having to bail out Greece.

Sun, 02/28/2010 - 20:32 | 249056 DosZap
DosZap's picture

"Because that is mostly USA money on the line."

That is hilarious, USA money?............shiuut, we haven't had any REAL reserves or REAL money for 35 years.

The whole SOB, is a PONZI SCHEME.

No one has any REAL money, except the PM LORDS.

The rest is CON GAME bucks.

Sun, 02/28/2010 - 13:47 | 248780 A Man without Q...
A Man without Qualities's picture

I think the other member nations are playing this quite well.  The Greeks need to get it into their fat heads what IMF "help" actually looks like and realize they will be much better off trying to work within the EU.  However, they need to get the situation (i.e. the budgets, workers and unions) under control and then the other European nations can make the argument that they are providing credit on a commercial basis, i.e. not really a bailout.

Germany is not about to riot about anything nor is it the greatest obstacle to a "bailout", but rather it is as always the Greek kleptocracy; union leaders, politicians, central bankers and civil servants, who have the most to lose. The main concern for Germany is that any too lenient "bailout" leads to rising Bund yields and rising Euro, which is the worst possible outcome.

I have said it before, but I believe there are parties in Greece who see opportunity to gain from a default, especially the unions, who don't want their members to know they have been stealing from them for years, and opposition politicians.  The are desperate to find external parties to blame, such as the Nazis and the Persians, rather than admit the truth about the ransacked economy.  While they are at it, they should demand reparation from the Turks for blowing up the Parthenon.



Sun, 02/28/2010 - 14:43 | 248837 TooMuchToRead
TooMuchToRead's picture

demand reparation from the Turks for blowing up the Parthenon

It was the Ventians that actually fired the shell that set off the gunpowder stored by the Ottomans, who, despite turning the Parthenon into a mosque had looked after it (well the structure if not the statues). Ironically the Parthenon was paid for with and used to store taxes that Athens had collected, if only they could repeat that tax collection now.

Sun, 02/28/2010 - 14:08 | 248796 Anonymous
Anonymous's picture

Greece is now in the GS / Soros death spiral - since our entire financial system is based on betting - and the bets have been placed, the big rewards will come with a default so that's what will happen.

The UK will follow soon so place your bets now..

Mon, 03/01/2010 - 06:58 | 249286 Mr Shush
Mr Shush's picture

It's foolish to think the UK's likely to default in a technical sense when it issues debt in its own currency. By all means get short Sterling prior to a further epic bout of debt monetisation, but I can't see any value in UK CDS.

Sun, 02/28/2010 - 14:23 | 248809 Anonymous
Anonymous's picture

The usual lumpfen, blinkered, ignorant German analysis. Why did we ruralize Germany after the War, as FDR wanted? Oh, I forgot, he died, and we got the chief idiot of the 20th century, the autodidact clown Truman.

But whatever. All these little plans for collapsing the Euro ignore the collapse of demand. That's a little secret we're hiding here in the U.S. We're going to spring it June-July. Ha ha!

Sun, 02/28/2010 - 14:45 | 248839 CEOoftheSOFA
CEOoftheSOFA's picture

I think it's the fault of the Christians who knocked all the arms off the statues, thereby reducing the market value.

Sun, 02/28/2010 - 14:50 | 248843 foxmuldar
foxmuldar's picture

Maybe we can suggest to the EU that they are responsible for bailing out California and the many other states in deep shit. It makes as much sense as the US bailing out Greece. 

I don't blame the germans for getting pissed. The Greeks have to find a way out of the mess they created on their own. Socialism is wonderful until someone has to pay the bills that are due.

Sun, 02/28/2010 - 15:16 | 248859 perchprism
perchprism's picture


It is surreal that they are dredging up WWII Nazi occupation that ended 65 years ago.  Look what Germany itself has achieved after its utter destruction.  This refusal to accept responsibility for their own plight is truly juvenile.   It is a hallmark of progressivism.  The Havenots don't have because the Have's stole it all away.  The Man keeps them down.  Hmmm.  I guess the game is that, at the very least, the Germans "owe" it to the Greeks to bail them out.  Very eerie.

Sun, 02/28/2010 - 20:37 | 249058 Anonymous
Anonymous's picture

Alexander the great invaded India in 330 BC or there about.
Refer http://wso.williams.edu/~junterek/india.htm

I hereby demand reparations with interest.

Sun, 02/28/2010 - 20:34 | 249055 35Pete
35Pete's picture

I think it would be HILARIOUS if Kalifornika had to accept IMF terms. 

First, the statists would get a real taste of world government. Second, they'd freak over the conditions. 

Privatize the redwood forrests for purchase by Korean interests. 

Sell the Sierra Madres to Saudi Arabia. The Saudis would then ship them over to their desert to gentrify it. 

China buys San Francisco and turns it into one great big goddamn textile mill. 

India buys Hollywood and carts it off to merge with Bollywood. 

Wow, that'd be a hoot!!

Mon, 03/01/2010 - 10:50 | 249375 Anonymous
Anonymous's picture

If everyone were treated equally, that is what would happen. However, Greek people look 'kinda' like Americans, so treating them poorly might cause Americans to empathise with them and would raise consciousness. Horrible IMF terms only works for raping countries where poor brown or yellow people live.

Sun, 02/28/2010 - 15:13 | 248854 Anonymous
Anonymous's picture

It would be political suicide for the US to get involved in Greece directly. The IMF will take the hit and it will all get swept under a rug.

The PPT, China and Germany will all ramp the markets to distract the populace until the headlines fade away.

Nothing to see here... same shit, different day.

Sun, 02/28/2010 - 15:58 | 248884 CombustibleAssets
CombustibleAssets's picture

There is no way we can look good by helping the Greeks. The Germans are just trying to shift the blame.

The austerity measures that will need to be forced on to the Greek population will have them blaming us for taking food out of the mouths of babies.

Sun, 02/28/2010 - 16:11 | 248892 Anonymous
Anonymous's picture

It's clear to me there is no real plan here.

I believe they'll be shocked to see how quickly it spreads and how little control they'll be able to exercise at that point.

Sun, 02/28/2010 - 17:16 | 248931 Comrade de Chaos
Comrade de Chaos's picture

I knew it. !!!

By the way,  IMF is run by .. Europe. (world bank by us) However since it takes 'em some time and confusion surrounding the issue is not helpful, Greece will probably be bailed out only after missed interest payments and acceptance of the IMF conditions.

Good f luck bondholders, cause any well developed country does feel a huge degree of entitlement when it comes to raising money. And such an entitlement will make any debt  restructure compromise meaningless. Which brings us to the next question, which of the Austrian and Swiss banks are praying daily for the world financial community not to discover their full exposure. 

Sun, 02/28/2010 - 18:17 | 248963 godfader
godfader's picture

Just wait until Axel "The Axe" Weber takes over the ECB. It will feel like a military coup. The day he takes office he'll hike rates to 2%. Then another 0.5% every month until Southern Europe is defaulting on their excessive debt at 10% annualized. The Nazis love sadism.

Sun, 02/28/2010 - 18:19 | 248964 JimboJammer
JimboJammer's picture

Hello  Perchprism  ... !   a  NC  guy  cool..  I  am  NC  too..

Oh- Bomber  will  bail  out  greece..  it  is  so  much   inter-twined

to  USA  Banks ...  the  fed  might  be  buying  Greek  Bonds  right  now..

Sun, 02/28/2010 - 19:47 | 249029 williambanzai7
williambanzai7's picture
INGLORIOUS BANKSTERS "You probably heard we in the investment bankin' business; we in the Euro shortin' business. And cousin, Business is a-boomin'. "


Sun, 02/28/2010 - 20:10 | 249048 crzyhun
crzyhun's picture

Those Deutchers are soooo clever. Everyone else good luck.

But seriously, if 1/2 true major fubar. This has to stop.

Sun, 02/28/2010 - 22:26 | 249111 Jim in MN
Jim in MN's picture


Punt to IMF.  IMF wimps out on 'draconian' conditions.  Crisis....postponed.

The scary thing is how long, chaotic and incompetent this all is.  Put a bigger sovereign default in the chute and SPLAT!

Only a matter of time.


Sun, 02/28/2010 - 23:25 | 249141 Anonymous
Anonymous's picture

The Greeks chose to fight with the Communist Red Army to help defeat Germany. So let the Greeks go to the USSR/IMF for help. The IMF will demand that the Greeks pledge all of their farm-land as collateral. Cant wait to see this.

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