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Here We Go Again: Latest "Greece Will Make Payment" Headline Sends Stocks Surging
Another day, another stock market dump saved by another Greece headline...
- GREECE WILL MAKE JUNE 5 PAYMENT DUE TO IMF, GREEK ECONOMY MINISTER STATHAKIS: REAL
The question is, what money will Greece use this time? They already "borrowed" their IMF reserves to make the May 12 €750MM payment to the IMF...
We would note for those paying attention that S&P futures VWAP is 2011.
Crude is soaring this morning...
Charts: Bloomberg
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dont believe it
Prepare to meet Shiva everyone
The missing BitCoin?
Someone is going to loan Greece the money to make the payment. Greece will then be awarded the next 5 World Cups to boost the economy.
I got an idea!
Let's count what we wanna count in the way we wanna count it, not count what we don't wanna count in any way at all, report what we wanna report as fact regardless of the facts, not report any facts we don't wanna report regardless of facts and claim what we wanna claim regardless of the claims reality or not.
Booyah!
Take that Liesman!
What money will greece use? bailin in 3...2...1...
The game is rigged and nobody seems to notice. Nobody seems to care. Good honest hard-working people . . . white collar, blue collar it doesn’t matter what color shirt you have on. Good honest hard-working people continue, these are people of modest means . . . continue to elect these rich cocksuckers who don’t give a fuck about you. They don’t give a fuck about you . . . they don’t give a fuck about you. They don’t care about you at all . . . at all . . . at all, and nobody seems to notice. Nobody seems to care. That’s what the owners count on. The fact that Americans will probably remain willfully ignorant of the big red, white and blue dick that’s being jammed up their assholes everyday, because the owners of this country know the truth. It’s called the American Dream cause you have to be asleep to believe it . . .”
Hey Greece, I think the Italian mafia has some money to lend you. And, their terms are better. At most it will only cost you an arm or a leg.
"We would note for those paying attention that S&P futures VWAP is 2011."
Is it 2011 or 2111?
Is it still taking your life when someone else throws you out the window?
Nein,
The Greeks are using WWII Deutsch Marks with a picture of Adolf driving a Tiger tank. Playing the reparations card. heheheheh.
Fate the Magnificent
"Push the Button, Max"
well they have the idle stadiums from the last public waste of resources the 2004 Olympics. these haven't been used since then. not to mention all the club soccer stadiums might as well
The question is, what money will Greece use this time?
Gold?
$?
Ruble?
yuan?
YOGURT?
That's actually a great idea, Greece should create its own cryptocurrency and start paying with that. Could be up and running in no time and wouldn't have to waste money on paper and ink.
The public wouldn't go for that. It would mean a cataclysmic crash in standard of living and savings (fake though they may be now...) wiped out.
Everyone wants to delay, extend-and-pretend forever...until...
They either found Atlantis, or MH370.... Perhaps they are paying in New Drachmas?
The cheque is in the post.......... oh shit I forgot to sign it.
The problem is they don't use checks, they only use bank wires.
The other problem is that bank wires don't actually move money from bank A to bank B, they are simply text messages which request another institution to change the title on money already in that bank's possession.
What actually happens in this case is that the Bank of Greece sends a message to the ECB requesting the BoG account at the ECB account be debited for 750m and the IMF account at the ECB be credited for 750m...
If there isn't 750m already in the BoG account at the ECB (or even if there is 750m in the account), then ECB has two options 1) refuse the transaction (and send an appropriate response message), or 2) post the transaction (and send a confirmation message). If there isn't money in the BoG account and they post the transaction, then the BoG account is overdrawn, but the IMF is still paid... basically the same as overdrawing a checking account.
So if the Greeks wanted to step up to the level of full-blown fringe blog snark (befitting the farcial troika three ring circus), they could actually send a single bank wire TODAY to ECB to pay off the entire debt owed to the troika, which would probably make some algos' digital brains explode.
the rest of the western world will continue to pay Greece's bills or else face the inevitable debt collapse from the derivatives involved.
Looking forward to a fall trip to Santorini on the Drachma exchange rate!!! Eff Brussels!!! it'll be at least 75% less than the Euro.
Hah, like anybody really believes Greece will default. Even if they do default, it won't be a default.
This is a soap opera of epic proportions, but we're still waiting to find out who the murderer is, since there are, apparently, no clues.....
It was mean grandpa "Wolfie" Schäuble in his wheel chair with his colostomy bag.
How do you kill someone with a colostomy bag?
Put a buncha soap bars in it and hit the guy?
It cannot and will not be a CDS trigger... You are right Doc.
100 of us already knew this was going to happen. PPT was telegraphing it all morning. the 50 day is like a brick wall.
They found some old Drachma's they would like to redeem...
Greece has no credibility, anyone buying on empty words is wasting their time
As long as they sell before 4pm they'll be fine.
Like machines do? That is pretty much all autopiloted buying by linguistic algos buying on words and words alone.
yawn................................................................................
Looks like the Creditors are going to SAY Greece made a payment to put off the inevitable. Smoke and mirrors.
The Greeks will play for time. When the Fed raises rates, and the system is most vulnerable, they will threaten default. The ECB and the IMF will shit their pants and bail them out again. Watch.
Renegotiating royalty agreements on Jason and the Argonauts?
BTW Didju guys and gals know that the so called "Golden Fleece" was real? Seriously.
Y'all are aware when sluicing (placer mining) in the sluice are riffles/screens that create the turbulence allowing the heavier particles to settle there behind and fall into what's called either "moss" or "carpeting" that are then washed to collect the accumulated gold and heavier materials, right?
Well, back in the ancient days, the carpet oft employed was of sheep's fleece! The "Golden Fleece"
Thar y'all go. Your Zen for the Day. See see see, myth does have reason.
Livestock? Feta Cheese?
Or just some cunt marking the digital ledger with another IOU.
Their only export is - rumors.
Greek version of Verbal Easing a la Bullard.
How are they going to pay? Simples. Varoufakis happened to stumble across Michael Tellinger´s "How to create your own Promissory Notes" Youtube video, followed the detailed instructions, made a phone call to the IMF, talked to Stathakis (who promptly upchucked a press statement) and now he´s celebrating his brilliance with a bottle of Ouzo.
https://www.youtube.com/watch?v=dbku5XULgIA
They fought off the mighty Persian empire, and they will make the payment.
I'm sure they'll strike a deal this weekend.
If not, then definitely next weekend. Or next month.
Maybe. Better keep buying just in case.
You'll more likely be reading about the Greek equivalent of the Reichstag Fire if they can't make the payment to stave off default next. NATO troops on Greek soil next to prop up Syriza if they can't steal the remaining money using the Greek military to back it up (once the rioting and blowback starts) in the Greek system to make the payment.
If I was the Greek Unions and Golden Dawn I'd be preparing for Civil War right about now since they are going to be the first targets once default happens.
"When it gets serious, you have to lie."
If its not paid in gold, then it is only a number typed into an electronic transfer. Greece can keep sending 'money' as long as the zero key keeps working on their computer - just like Mr. Yellen does.
Too many people - even on ZH - think that electronic money is actually 'real'!
Just like a Chinese warehouse full of copper - the same copper can be sold many times over. (Also reference NY Fed and Comex gold). Same thing with whatever 'money' the Greeks need to pay out. Does anything really get exchanged? Or can the same pot of Greek money be used to 'pay' the IMF, the ECB, bond holders, and government pensions?
Looks like Greece isn't going to default eh?
10:45 marked the huge volume bars on short-term charts, so I still maintain Greece has nothing to do with US market action, it's just low-volume, VIX-slamming manipulation, even if that country had no issues, as long as buy-side institutions are indifferent, big down moves can't last
(Given volume bars from that time stamp grow with each chart refresh, assume dark pools drove the stick-save, likely a pre-planned month-end move)
Agreed....Greece had nothing to do with that, I loaded up on calls when we hit the 20 day expecting a bounce and knowing full well they had no intentions of letting my puts get deeper in the money. Unwound half of them for a double. Got lucky today and hit the tops and bottoms so far, closing the strattle out now is really going to take some fast fingers and a bit of luck....which I am really testing today. May sit out a few weeks as this RUT reballance comes to fruition.
I expect a drift lower into the close, GL, good weekend
The Greeks found a bunch of those pallets full of $100 bills that the US military "lost" in Iraq. About $1.5 billion worth.
Put your money back in the banks Citizens of Greece. All is well!
Well they did win the award for best new design of a Euro coin... so maybe that can be leveraged 15000%
In exchange for a $50million donation to the Clinton Foundation, Greece will be approved by the U.S. State Department for $5billion in U.S. military equipment purchases which will be financed by CitiBank with U.S. Government guarantees, then pre-sold into the black market with receivables purchased at $.75 cents on the dollar by a consortium of international investors arranged by Goldman. That should generate enough cash for Greece to make the next payment and still leave a few million for hush money and gold deposits to Swiss safety deposit boxes of Greek officials. Party on brothers and banksters.
I've already said many times here that there will be NO GREXIT ever.
These are all just cheap EU dramas.
Please don't believe in whatever news of default from the EU anymore.
They (the EU officials and ministers) are just playing emotional mind games with you all.
They need to generate such news to create market volatility for their crony HFT market makers to profit from.
Why aren't anyone getting this which is so darn obvious?
I once fell very hard and instantly for a beautiful, built, blonde, brainy (she was the only woman I ever met that could beat me nearly every time...well....anytime, at Scrabble) woman who had recently split, sorta, from her fiance. Over a two year period I saw her for a date maybe a dozen times while she and he worked out their relationship.
One night she called me at 9 p.m. and asked if she could come over to my place and spend the night. To this point we had not become even remotely intimate, hardly even a goodnight kiss. That's over two years. Slept on her couch a few nights when she was frightened about recent burglaries in the neighborhood, but no intimacy.
I said sure, picked her up, asked what was wrong, and proceeded to listen for the third time about how she had finally made up her mind about terminating her engagement for good. I didn't believe a word of it, but here she was in my bed fer krissakes! in my pajamas, awake, and seemingly romantic, many hours to go before I sleep.
What did I do?? I couldn't believe it was real, must be hallucinating, and all I did was hold her, off and on, thru the night.
Deposited her in the morning back to her place, and made a date two days hence. Got a call the next day from her saying she had to break our date and she and her fiance were going to try one more time. This didn't come as any surprise to me at all. And I moved on with my life.
Didn't hear from her again for three years, which is another story.
The point being that she presented herself to me, wanted to take a risk on a new relationship- 'the obvious' --and I did not 'get it' for one reason or another. I froze, didn't really sleep the entire night, couldn't believe that she was laying next to me ready to 'go exploring', dumbfounded that one of my fantasies was about to made real IF I would only grasp on it.
Sometimes when that which we desire the most is made manifest, we can remain powerless to do anything about it.
Everybody clap your hands! Clap your hands to save Tinkerbelle.. When children don't believe, the fairies die! So, clap your hands, she's getting brighter, she's almost better, keep clapping, Yaaay!
They keep this turd afloat on lying headlines and free money for banks and corporate buybacks. The working people are willfully blind and hoping they can keep eating one more day.
I don't think anyone out there has any doubt that equities are on life support every single day. All that matters is one more normal weekend.
It's all fake, meatball!
I have just worked it out where the money will come from I heard the bought out Hasbro the owners of Waddington Monoply so the can print as many EURO as the need LOL
We're going to reopen the Buffet is going to buy Greece (fill in the blank) theme again. Worked so well before and countless times.