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The Greek Situation Is Unfolding Rapidly Now...
Just a few days after we wrote that a Grexit was quite unlikely, the entire situation has been evolving dramatically and the Euro-puzzle is breaking up in fragmented pieces again. The comments of the Greeks saying that they aren’t interested in renewing the bailout deal with the Troika has sent a true shock wave throughout the European financial sector. Just a few days after the announcement, the ECB is starting to think about separating from the troika, which would then solely consist of the IMF and the European Commission.
Such a separation would be highly unexpected as the partnership between the three important institutions seemed to be quite strong. Citing a ‘potential conflict of interest with its Quantitative Easing program’, the ECB is choosing for the easy way out and then it will be interesting to see whether or not the IMF and the European Commission will have enough leverage to force the Greeks to continue to implement changes. This probably won’t be the case as the ECB is by far the most important institution of the triumvirate for the Greeks as it will purchase Greek sovereign bonds (which will reduce the borrowing costs for the country) as well as providing a line of credit for the Greek banks.
And this is exactly why Greece would like to keep the ECB as its best friend. Since the left-wing Syriza party has won the elections, there was a capital flight from Greece towards safer countries like Switzerland and Luxemburg. This obviously caused liquidity problems for the Greek banks and Reuters reported the European Central Bank had to step in and provide 2B EUR in emergency funding to three Greek banks. This emergency fund line will be valid for two weeks, but there’s little doubt these terms will have to be extended and increased.
The Greek minister of finance also has launched some ideas which actually make a lot of sense. They already seem to have stepped back from the demand to take a haircut on the value of the debt (unsurprisingly as we already saw through this strategic move in our previous column) and have now proposed debt swaps of which a part will be linked to nominal economic growth of Greece, which is actually a good plan. Another idea was to convert the debt owed to the ECB into perpetual bonds which actually is a naughty strategy to just keep on postponing the repayment of the outstanding debt.
The ECB agrees with our point of view and has already announced it doesn’t want to play ball. But what’s more interesting in this situation is that the Greeks have now effectively increased the pressure on the ECB and more importantly, central banker Draghi has now been put in the middle of a political mine field. If he takes one wrong step, the entire situation will explode.
It will be very interesting to see how this situation could be solved, but in just 48 hours, Greece was able to blow up the troika (increasing the likelihood of chaos erupting) despite the strong ties between the three partners. The situation has evolved into a chess game and the next strategic move by any of the parties involved will be important as it could push the entire Eurozone over the edge as a lot of other countries are watching how this situation is unfolding. Should the Greeks be successful in their attempts to play hardball, then there’s no reason why Italy, Spain, Portugal and Ireland wouldn’t try it as well.
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The new Greek "leaders" keep pointing at the elephant in the room... but NOBODY wants to notice that elephant. Until they do, the new Greek "leaders" will have to keep pointing at the elephant in the room... until someone listens.
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The "elephant"?
As the new "leaders" keep saying... WE ARE BANKRUPT.
The banksters who control everything DO NOT WANT TO HEAR THIS. They want all Greeks to become PERMANENT SLAVES.
The Greeks must say NO. 100% DEFAULT. NOW.
Then everyone everwhere must say NO.
END FIAT.
Which is what the ECB and other central banks fear.
A perpetual bond with a negative interest rate is a very nice instrument.
I'll buy that.
Hyuk hyuk hyuk.
I just don't know why a nation would borrow anybody's counterfeit money and pay interest on it.
Obvious. They do it because they get the counterfiat money & somebody else pays the interest. That and they are trogs.
The strongest message of what the current Greek government represents
Even for Greece €28 isn't going to do much...
Too bad it isn't Mexico or Starbucks- 'cause then, they could be fuckeristas.
the imf is a grand idea perverted into
a mafia war lord stink tank.
If only. QE will assuage this and a hunderd similiar situations. Until it doesn't.
http://tarpley.net/
Watershed Victory in Greece by the Anti-Austerity Syriza Party — Lessons that the American Anti-Wall Street Opposition Must Learn Now
Bonnie Faulkner Interviews Tarpley on New York’s WBAI
Webster G. Tarpley Ph.D.
every ponzi hits a rock and hard place failure moment.
when the "regulator" is "incorporated" into the control
fraud structure, well, here we are friends. laugh it up
i say, and get your rest and activity on a regular basis.
there, the only things that can help.
Wish they would hurry up and get on with what ever is going to happen.
Getting sick n frikkin tired of the shit show!
i'm pretty sure the east and the west are
partners at the top puttin' on a dog and
pony show to eat their own constituencies.
get it? it is an actual way of life and
"conspiracy", except, it is right in front
of everyone's face everyday. it is called
"currency" or "legal" tender.
of course, like all illusions, it has advantages
and facilitates motion and flow, relationships ....
.
but that doesn't end the discussion or make it
right, moral, ethical or optimal. there is where
they get you. it has its charm but has a nasty
bite. they seduce you with the charm part or
crush you with the bite and few are left asking
the question, " is there a better structure immediately
available with less bite and more charm? "
the bankers need the "sovereigns" to enforce
the strip mining of the resources from the
people and lands. if they cannot corrupt
the representation of the sovereign, the source
of the sovereignty, then they resort to violence
by those or other means. the veneer of civilization
is exquisitely thin in the high minded circles and
the minds of those in the trenches are considered
as plastic putty to be molded into whatever shape
desired.
.
peace.
Bank Guarantee Insane, Corrupt Banking Ponzi Scheme, Auditor’s Dog and Pony Show
Posted on February 5, 2015 by Dublin Eileen
Read more at http://www.maxkeiser.com/2015/02/bank-guarantee-insane-corrupt-banking-p...
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"Professor William K Black spoke today at the Irish Banking Enquiry held before the Public Accounts Committee. His presentation was ‘NOBBLED’ by fearful bankster cronies (in my opinion). However what he did say made it onto the RTE 6 1 news which is a wonder itself.
‘Concerned members of the Oireachtas Banking Inquiry have branded their latest witness as “high risk”, after they rejected his intended opening statement, the Irish Independent has learned.’
Here is what he did get to say to the white wash brigade." d.e.
As I always say, if Draghi is going to print, print, print-away via QE, why not shove the money in an envelope and mail it to the bondholders which Greece owes money to. That way Greek debt is reset to zero and it didn't cost Europe anything since it came out of thin air.
Must have the human slave in beteen so that labor can be stolen. Bond holders want the sweat of the labor/taxes, aka "money". Keep everyone in serfdom.
but Syriza's position is getting weaker on the other hand ECB's position seems stable if not better...generaly
May be my tin-hat is getting too snug, but considering Varoufakis's background, am I the only one that thinks that this is just another scam for the Zionist banksters to keep their Greek farm?
If so, I predict that it will get really nasty when the Greek sheeple begin to figure it out. The banksters might then need to use ZATO to corrall them as a message to the rest of eastern Europe.
The banksters need to repay us.
NO , you ere not the only one.
There are quite a few of us.
He is a Georgie porgie SOROS's puppet.
First time I've seen any accusation that Varoufakis is a zionist. According to many reports, he has been vehemently anti-zionist in his views along with the rest of Syriza.
http://www.timesofisrael.com/new-greek-finance-minister-accused-of-anti-...
"First time I've seen any accusation that Varoufakis is a Zionist."
Because of the situation, rightful mistrust, and despair in Greece, the Zionists had to hide their hand a bit deeper. The connection is via Soros, and a few others.
Basically, the Zionist banksters in Europe needed to get ahead of the situation in Greece, while appearing to look as if they are being run over by it.
I'm guessing that the Greek people will be made aware of the true orientation of their new masters in Athens by Russia, and then the soiled fans will abound. Expect ZATO in Greece later this year.
A summary from a site, not the only site, with a good many a word on it:
The warning signs that Varoufakis is a «Trojan horse» for the global bankers are abundant. First, Varoufakis served as an economic adviser to the failed PASOK social democratic government of Prime Minister George Papandreou, the man who first put Greece on the road to draconian austerity measures. Varoufakis now claims that he was ardently opposed to Papandreou’s deal with the «Troika» but no one will ever know how much the now-anti austerity finance minister agreed to while he was advising Papadreou on the proper course of action to settle Greece’s enormous debt problem.
Varoufakis is a close friend and co-author of American economist and fellow University of Texas professor James K. Galbraith, the son of the late «eminence grise» of American economists, John Kenneth Galbraith. Galbraith’s ties to the global banking elite are exemplified by his guest scholar position at the elitist Brookings Institution in Washington. In other words, although Tsipras’s biography suggests a bona fide leftist, Varoufakis’s background indicates that Greece’s new finance minister is at home and comfortable with the banker elites who carved out Greece’s national soul with a sharp blade of austerity cuts to social security, public health, and other basic public services.
The foreword to Varoufakis’s book, «A Modest Proposal, which deals with Europe’s financial crisis and which he co-wrote with James Galbraith and former British Member of Parliament Stuart Holland, was written by former French Prime Minister Michael Rocard. Rocard has called for the EU to appoint a European «strongman» and Rocard’s choice is European Parliament president Martin Schulz, the very same man who has warned the new SYRIZA government to abide by the austerity agreements concluded by the past PASOK and conservative governments.
http://m.strategic-culture.org/news/2015/01/29/a-soros-trojan-horse-insi...
The banksters need to repay us.
Spot on Mate , that's what I am talking about.
Thanks. I still find the connections tenuous, but it is something to mull over. Not trying to argue with facts (That would be silly), but Varoufakis' second hand familiarity with the Brookings Institute merely means to me that he knows his peers. The thing that I need to look further into is his association with Michael Rocard and Martin Schulz - they seem like quite unsavoury characters of the status quo.
It is possible, but so far his actions, along with the actions of Tsipras do not appear to be at all sympathetic to zionism or the banksters. I may change my mind later with new info.
Release the Kraken!
Putin wants to buy a deep warm water port...
Ring-ring-ring.
"Hello? Oh just a sec."
"Mr. new Greek PM - there's a guy named Putin on the phone."
Elsewhere:
Heads asplode!
There is no debt, there never was, it was just a conspiracy to flood our governments with cash so it could be stolen through corruption, and then cover up the crime by issuing more "debt." These people are all coconspirators in a Ponzi scheme. Greece should tell them all to get screwed, the "debt" was never intended to be paid and should be renounced.
Not a word about the forex derivatives peddled by Goldman Sachs to sneak Greece into the Euro. As usual Goldman created a great shorting opportunity and did so while their client (muppet) bought inton the BS
Time to open up can of whoop ass on wall street talmudic dealers
Greece's Euro exit will be the first legitimate step toward world economic recovery.
"Greece's Euro exit will be the first legitimate step toward world economic recovery."
Zion, and their banksters, are much bigger than Greece.
The banksters need to repay us.
I assume then the second step will be moar QE cause the markets sure love it!
We unfolded some folks.
I know some folks,
Who know some folks,
Who unfold some folks.
Let's play: Spot the 7 differences! :-)
"Another idea was to convert the debt owed to the ECB into perpetual bonds which actually is a naughty strategy to just keep on postponing the repayment of the outstanding debt."
Why not just issue million year bonds? Humanity will be gone and no one will have to worry about repaying the debt. The way its going, 10 year bonds might just fit that bill.....
Weren't the funds borrowed to the Greeks immaculately conceived by the act of borrowing itself, like the money for our mortgages?
In an EU run by miserable fuckers, Schauble is the miserablist fuckerist of them all.
Schauble and the self proclamed liar Junker are probably the miserablist fuckerists in Europe.
It tells you alot about the EU when a liar is "elected" to be its president .
I vow to use the word "fuckerist" in twelve sentences tomorrow.
PR Guy,
I don't know why I found that so funny, but I did!
DavidC
He just annoys the fuck out of me - conservative pensioner with arrogance.