Tsipras is calling for 'No' Vote in July 5 Referendum, but I think Greece most likely would not survive a Grexit.
At the end of the day, the “Greek” issue is in fact a “debt” issue. And Greece is just a drop in the ocean of debt sloshing around the financial system.
With all eyes on Greece it would seem another crisis relating to unpayable debt is brewing in the Caribbean. The governor of Puerto Rico, Alejandro García Padilla, has warned that the island is unable to pay its debts of $72 billion.
The same thing others are thinking...
But what I was seeing was a central bank that I thought was doing the wrong thing, always backstopping markets and that was under Chairman Greenspan at the time. And I saw that it was leading to, in my area, in technology, the greatest stock market bubble that I'd ever seen.
Hyperventilation can't hold a candle to the good feelings of helping out a fellow traveler here on our little planet.
Size does matter when it comes to financial collapse....
In the race to get to the top what does it matter that we destroy the planet along the way?
Europe is imposing capital controls… next up will be border controls.
With the ECB reneging on its responsibility as lender of last resort – not the first time it has used its power to political ends in Greece – Greek banks may soon be forced to “bail-in” deposits – i.e. confiscate the cash of their customers.
On Friday morning, at around midnight PDT, the price of silver had a mini crash, dropping more than 10 cents in one second. This is our forensic analysis.
I wanted to do a post that had nothing to do with Greece or charts, just for a change of pace.
Referendum is a CYA by Tsipras & Syriza, but a deal is by no means the end of anything...
As Foretold In 2010, Greece Was GUARANTEED to Default Regardless Of Any Aid It Received and These Countries Have Similar IssuesSubmitted by Reggie Middleton on 06/29/2015 12:57 -0400
Regardless of what package the Troika (or China or Russia) would have ever given Greece, the endgame would have always been full tilt default. This can be mathematically proven. There are also about 14 other countries with similar characteristics - all easily seen with just a modicum of insight and research. Just as easy is the ability to avoid the inevitable capital controls and bank bail-ins that the Greeks are subject to now.
A dream image for the fringe finance low brows of Zero Hedge Town...