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Greece: The Facts Remain In A Game Of Theories
Once again the financial markets displayed its utter confidence that no matter what Sword of Damocles may hang over its head, central bankers will thwart the impending peril. It’s beginning to take on such lore one could imagine or extrapolate in times going forward relative to the times passed since Zeus and the Immortals were believed to control the universe, today’s cadre of central bankers will be added to that roster of Olympus.
Scary thought I know, but at today’s pace fiction has far more in common with what people believe to be true. Remember “everything is awesome!”
I’d wager Zeus himself would be envious of such adoration and believability bestowed on central bankers across the globe. And if there’s any doubt of this omnipotence they’d be more than delighted to explain it to you. Of course this must take place at a press conference, for if they just used thunder and lighting as in days past it might scare the natives.
All this brings us right back to the current “sword” that still dangles above the head of the markets: Greece, and the all too real uncertainty of whether they are going to remain dutiful servants bringing offerings and gifts to lay before their current masters of their universe. Or, they are going to stand with straightened backs and declare they are the keepers of their own nations soul and the “gods of Olympus and Banks” be damned.
I find it more than just a little bit ironic that such a confrontation should play out in the very place such epic stories and more once originated. But (and it’s a very big but) Greece had better understand this idea or meme known as “game theory” that is said to be at the heart of their negotiations may turn out in the end to be nothing more than a fact based way to lose rather than some theoretical way to win. For just like their patriarchs of myth and legend, they were not overcome or banished to history via “games of theories.” They were overcome due to the use of straight talk and factual based evidence of intention.
Vanquishing foes whether they be real, or of myth and legend, is done so based with stunningly brutal acts of fact. Period. i.e., If you say you’re going to do something – Do It! Regardless of what “it” is. Anything less shows you never had the backbone to back up your intents.
And no other offering of devotion will equal (or delight) that one admission to your proclaimed over-lords the “Troika.” Nothing. And that’s an unadulterated fact. Pure, as it is simple.
Regardless of the how, why, and other circumstances that led to the impasse of where Greece now finds itself on the monetary world stage. The fact is an elected government along with the outright vociferous display of unity from those very people should embolden the stance of what is to be done; not allow room for clouded discussions and press-ers to be held where one has to think or over analyze at to interpret exactly what’s going on. i.e., “Are the playing cat and mouse?” Or, “Is this some form of brilliant display of game theory that we mere mortals can’t understand?”
If it is borne out to be true that what is being reported throughout many media channels is the fact that Greece has indeed nearly forfeited all its positions in-turn for some changes in language as to appear they have indeed stood up to their nemesis “and won” will not only be disappointing, in my opinion it will embolden central bankers and Keynesian devotes everywhere to view the monetary world with even more self-aggrandized thoughts and actions.
Today Greece stands not only at the crossroads of regaining self-determination as a country via its monetary policies. It also stands quite squarely as well within the cross-hairs of central bankers everywhere. For if Greece does in fact stand true to its demands, and insists on resolutions to once and for all absolve itself from its current dilemma as well as divorce itself from the religious styled worship of central banks and stand on its own two feet consequences be damned: it will indeed show that the edifice of central bankers omnipotence is in fact just that – an edifice of beliefs – not something to be worshiped as “god-like” or “all-powerful.”
Whether or not one agrees with Greece and their interpretation as well as explanation as to why they find themselves buried under this monstrous burden of debt, this fact is clear above all else…
Greece must standup and prove with clear concise action displaying in fact for all to see that it fully intends to reach out and cut the rope releasing the sword. If not it will do as so many others have done before it and shrink into the history books of obscurity. For that is where this current movement will surly end up if they’re shown willing to do anything less. Matter of fact they’ll be lucky if they’ll even be a footnote in the future if they don’t.
Today as we sit that one fact still remains unresolved: Will Greece and all that it proclaimed it was going to show the world follow thru and emulate the triumphs and victories against repression like the stories of old? Or, does it have more in common with the storytelling of myth and legend laced with hyperbole? Rather than the reality of a “promised” backbone.
Just imagine the central bankers gleeful recantation for years to come if it’s borne out their ability to quell such an uprising without the need to even brandish a lightning bolt. The facts will prove once again all one needs to have is a sanctioned printing press – and the power and control to rival Olympus are yours for the taking. Oh how the “lesser-gods” must envy these new power brokers. For that must surely be omnipotence worthy of praise. And their presumed omnipotence as well as power is proving to be a game winning fact if it plays out as currently reported.
For facts trump a game based in theory every time. And the fact is as I stated in an earlier article: (to paraphrase Mike Tyson) “Everyone’s got a plan – till someone gets punched in the face.”
Well Greece did indeed land the first blow. However, it’s beginning to look more and more that Greece’s first shot was more of an “eyes closed” lucky punch. And everyone knows the cold hard truth or fact that no game theory can trump: If that’s all that it was – the counter punch from their adversary is going to be nothing short of a factual resulting “hay-maker” looking to once, and for all, put the “lights out” on any and all future up-risers.
It would appear not only we but even the “gods” will have to wait till Monday as to know the fate of either. For the sword still hangs.
At least in theory.
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German retreat gives a chance for Greeks to prepare for Grexit
Not too far removed in that some are more equal than others (pigs, Germans, white folks) but same shit in the end...
http://news.yahoo.com/oscar-protest-planned-over-white-nominees-08594204...
The planet need to get a grip
Germany to Greece: If you don't eat your meat, you can't have any pudding.
http://www.youtube.com/watch?v=n5diMImYIIA
Another brick in the wall.
https://www.youtube.com/watch?v=YR5ApYxkU-U
Oh for Fuck sake, Greece is over....move on...2300 spy
Greeks will the sacrifical lamb, so other countries will honor and obey the laws of the central banksters.
Same boring game played over and over til it causes pain and misery to regular Joes.
The Greeks will do what the Greeks do best. Take it in the Ass. Game over for that annoying little quasi-revolutionist side show. Next......
Wonder where the repayments will come from. Until the German grand plan demonstrates that they have gang farqued Greece into magically shitting some repayments, it's far from over. It presently is a TV beauty contest between the two or three ugliest cunts in the auditorium.
Be patient and get some more popcorn and beer, this thing is just now into the jabs and dancing of the early first round. All of the prior blustery bullshit was just the prefight weigh in.
I see the ringside seats are mostly taken by the rioters in Athens that will make the Premier League hooligans look like choir boys. I could shit a blowtorch, too, if I drank that licorice puke, Ouzo.
I love being down voted! Means I must have touched a nerve. Truth hurts eh?
Knock yourself out then !
Here is a nation that battle the German tooth and nail which resulted in heavy losses in lives and property.
Yet, it doesn't have the BALLS or IRON WILL to tell the TROIKA stick this massive debt where the light doesn't shine...
They don't have to utter a word to the Troika, they simply do not have the money to sit in the high stakes game. They will just sit there in the next meeting uttering a bunch of psychobabble with a shit eating grin.
Stauble will just sit there with that scowl looking as if he got hold of a bad shrimp at the coctail party.
The can got a four-month kick. How is that significant ?
Talk about kicking cans, for you got to the AIS ship finder/ports website, the number of ships piling up off the west coast is starting to get a bit much. Crowded
The future will be decided by voters that have money in the game.
SYRIZA caved as soon as they realized that with no ability to pay their army they would be overthrown and killed or driven into exile within weeks, by their own men or by NATO's. Simple as that.
That's assuming they were ever much more than bankster astroturf designed to appeal to disillusioned PASOK voters.
Forget the money---this is all about Greece's being unable to resist violent regime change by NATO if they were daft enough to tell the Germans to stuff it. If Greece had a nuclear deterrent like Russia or another Mediterranean country I needn't name, the banksters would have taken their losses and moved on to their next victim long since.
And now, Golden Dawn will knock out SYRIZA instead. It will be fun watching the Eurocrats try to negotiate with Golden Dawn. They would have to do it with human compromise. I bet Brussels is bringing in some hot trannies to augment their usual stable of pimped-out little boys.
At least SYRIZA willingly drank the Keynesian-socialist-PC koolaid which the Eurocrats peddle to useful idiots. New Dawn will need their drinks spiked. Something stronger. Something which can lead to spectacular perversions, all caught on tape. A tanker of scopolamine from the CIA?
https://www.youtube.com/watch?v=-WCFUGCOLLU
if you put a can on the road in front of anybody - they'll kick it. i would, so would you. especially if not kicking it means instant trouble. it's so easy just to kick it. go ahead....
It is not Central Bankers who are causing the population to pull the money out of Greece. In fact, the ECB is advancing the country funding so that bank transactions are still possible. Evidently the citizens of Greece have no faith in the socialist clowns to run a country.
An honest Drachma is part of Greek mythology, or a punchline to a joke.
If there were a Grexit with default, the EU would act immediately to confiscate the Euro accounts of Greek citizens and businesses everywhere in the EU. The confiscated assets would be applied to the country's defaulted debt. if you are a Greek, and you want to get your money out, you have to get it out of Euros and put it in US Treasury Bonds, or buy gold and bury it under your basement.
<a href="http://fortune.com/2015/02/20/greece-germany-yanis-varoufakis/"> the opera ain't over til the fat Merkel sings </a>
James Galbraith on the subject.
http://fortune.com/2015/02/20/greece-germany-yanis-varoufakis/
The 'sword of Damocles' was held by a very fragile string, NOT a rope!!
a hair
This is all Reverse psychology !!!! Brilliant !!!!
right???????????????????
Cuz,..if not.......Yanis is a fag.
Greeks got played. Watched a couple brief interviews today. It appears Yanis and Tsiprias were never what they claimed. Sounds as if they gave away the farm in that now no changes can be made within Greece without the banks approvals. Have to say I got suckered by them as well. You know, the untucked shirt tail gimic and all the rest sure was cleaver.
It is expert game theroy work, so good that the Greeks did not realize these newly elected were sitting on the other side of the table in reality. It was the Greeks (and some of us) being played by Yanis not the EU bankers.
Yanis is claiming this is a win for Greece and they got what they were seeking. Olnly the deal is simply what the bankers had put on the table long ago only now Greece cannot take any contrary action of any sort without the prior approval of the EU.
If Yanis is faking the EU ( I doubt it) he will have difficulties at home because his credibility is now gone with those who believed and voted for him.
If Yanis did in fact fool the Greeks and was always controlled opposition aligned with the EU bankers (and Soros) then this is just the initial betrayal, in 4 months Yanis will totally sell out the Greeks and maybe finish them as an independent country. Then in the future Yanis is provided for within the structure of the EU or back to the Univ. of Texas.
That is the appearance as of today and it does not look good.
" You know, the untucked shirt tail gimic and all the rest sure was cleaver."
Yup, reminds me of mister 'rolled up shirt sleaves'...
Good research Stumpy. I just took the first common denominator of them electing a former Communist to see where this was heading. You just took a little longer to come up with the conclusion that Greece is screwed, even if they get a semi gold backed Drachma,(unless I missed some of your posts; entirely possible). The only saving grace that might be afforded to the afflicted country in question is that Greece is not broke at all, as many would suggest.They are merely being held hostage by bad decicion making. They still have gold, and more undug.
The money will be in your account before the close of Monday 2nd March 2015
"On the 22 January the ECB launched its QE programme, designed to inject at least €1.1 trillion (£834bn) into the ailing eurozone economy.
It said it would buy €60bn bonds each month from banks until the end of September 2016, or even longer."
ECB minutes highlight QE delay riskshttp://www.bbc.co.uk/news/business-31536583
Not minutes, an "account", a simple slight of hand. Or mouth.
I've been reading about Greece, and it simply beggars belief that there is anyone left who understands what the fuck is going on, and why. I'm ready to Pack it In. Wake me up when someone, somewhere defies the central bankers and their NATO armies. Some nations like Greece seek to get out. Others like Iceland have jailed bankers and declared independence and withdrawn EU application. While Ukraine fights a bloody civil war in which a Kiev Junta fights to get in and stay in the IMF and EU systems of loans in return for slavery, while another faction fights with tanks and infantry against those trying to force them under IMF control and EU rule. So far the anti EU army is winning there.
The EU can't afford to let anyone default, not even the smallest like Greece. Because Bankers have laid a mine field of financial deals that would explode if triggered by default of Greece.
All we know, and this IS all we REALLY do know, is that the rich are getting much richer and at a faster pace than ever in history, all due to EU and ECB policies. People are told they are lazy and greedy, and to eat austerity, while personal income of the 1% explodes upwards like a rocket to the moon.
The Syriza government took power tooo close to the deadline to have any better cards to play. Preparation for a Grexit takes time. They didn't have the time. If they had done the Grexit, there would have been a military coup and their leaders would have been shot. The EU would also confiscate the Euro accounts of Greek citizens anywhere in the EU upon a Grexit. That is a real sword of damocles.
Now they have 4 months to prepare. Not a lot of time, but enough if they work at it. And they had better be sure they can pay their Army after Grexit.
Hard to say, perhaps it's an extension of 'extend and pretend'? Greece will pretend to pay and the EU/IMF will pretend they paid, and they only need it to last till June, perhaps the end of the month as mentioned isn't such a bad idea afterall? That should be long enough to allow the 'fat lady to sing' and after that, no one will care as they scampy off looking for safety. Is Greece ready to continue this game of 'calling the emperor naked'? Surely all the central bankers of fiat money will pony up whatever they ask if pushed enough, just to keep the game going... till around the end of that month... and solitary solstice... should be 'fun' unless Greece wants to spoil the last hours on the Titantic.... or wasn't that really the Olympic? but why push for reality when illusion is so much fun?
reality has always been simple: default and exit, or stay and pay.
Greeks don't like austerity? elect Syriza to seek default
Greeks still want to stay in Eurozone? newly elected govt not seeking to exit
well, YOU CAN'T HAVE BOTH(stay and default).
you want to give the Greeks a backbone, tell them to grow some balls and exit. don't actually want to exit? then put up and shut up.
everything else is just circus. game theory and greek heroics my ass.
This analysis is flawed because it does not correctly identify the players.
It identifies the players as the ECB and Greece. But the fact is that the ECB would be more than happy to print whatever money Greece wants/needs. Most of the other countries in the EU would also be happy with QE. But they have little or nothing at stake. They are overt or covert deficit countries. Which is to say that they desire QE for a rational reason - because they expect to gain from it. Germany and the other Nordic and Germanic countries are in the opposite camp.
Greece and the ECB can exercise no decisions, and hence are not the players.
Rather the two camps are the players... the deficit countries on one hand, where Greece is only the spokesman, and the surplus countries on the other hand, where Germany is the spokesman. The ECB is the hockey puck.
The deficit countries only receive net benefit from staying in the EU, but the leaders of those countries (elected or covert) receive a higher initial payoff out of the Euro, but with higher risk. They (and the ECB) like to pretend that the printing-press creates wealth, but in fact it only redistributes wealth. When those countries exercise the press they create domestic unrest and local poverty. This translates as risk for the regime plus a higher reward for the leaders in that regime (because they can redistribute as much of the national pool of wealth to themselves as they want). But in staying, they are limited in how much they can personally accumulate, but they can accumulate it more steadily, since their activites are creating unrest outside of their jurisdictions.
The surplus countries led by Germany gain resource-wealth by staying. And if QE is prohibited, they gain financial wealth too...so long as their banks remain stable. In staying what they lose is a degree of decision-making power. If QE is allowed for nations, then they lose some decision-making power, and they lose financial wealth. If they leave they lose access to many resources, but they can have more influence over their financial power through currency valuation, and public recompensation of banks bankrupted by foreign defaults.
It is almost a classic prisoner's dillemma.
On the net, I'd say that the deficit countries have something to gain by staying only if there is QE while the surplus countries on net gain also by staying...but only if there isn't QE.
What makes the next move interresting is the point that the loss is already actual, but not realized. Greece, for instance, will simply not be able to repay their loans. And there is evidence that even when talking only about the spokesman, Greece, that its real default (which is actual, the pussy-footing about QE is about realization...because QE is in fact default) is by itself enough to bankrupt the surplus-countries' banking systems, either directly or indirectly through contagion.
At that point the struggle becomes over the terms of the printing press. Specifically, is the printing press to be used for governmental defaults? Or only to make whole the banks who invested in them?
At the next level of the strategy I'd say that it will be in the Surplus countries' interests to enable QE but only for banks (a position that the bankocrats likely share), but the deficit countries will want it for their governments ... i.e. for themselves.
So... I am betting that in four months there will be realization that the 'Greece' losses (which also apply to the other so-called PIIGS) are real. At that point we'll move to this next game - over the terms of QE.
In that game both deficit countries stand to gain something if they do QE for banks. But only the deficit nations have something to gain from Governmental QE. At the individual level, the leaders of the surplus countries will risk political blow-back if they move to the second game (terms of QE) before they have overt banking losses to consider...so I am thinking we will hear Deutsch Bank, UBS, and SG scream sometime around four months from now. On the other team, the deficits, their leadership stands to lose in Bank-only QE. They will start dumping their government-related investments beginning now and continuing for the next few months to hedge that risk... QE is likely to become actual (or at least visible) on the timeline that they are able to do that. If they refuse, then we'll move to a game over terms of EU break-up. If they succeed then we'll move to game concerning control of defaulting deficit countries...which we've seen to some extent with Greece. But I believe we'll revisit it.
Probably more analysis than I should post for free...