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ECB "Blesses" Greek Bank Runs, Says Unsure If Banks Will Reopen Monday
Update: what else - an official denial: EU OFFICIAL: ECB DIDN'T SAY GREEK BANKS MAY NOT OPEN MONDAY
So, Benoit did not say what he said?
* * *
Just minutes after Greek FinMin Varoufakis warned people were trying to "incite capital flight" from Greece and Dijsselbloem stated that "capital outflows from Greece are worrying," Reuters is reporting that The ECB dropped the bank run hammer:
ECB TOLD EURO ZONE FINANCE MINISTERS IT WAS NOT SURE IF GREEK BANKS WOULD BE ABLE TO OPEN ON MONDAY- OFFICIALS
Friday sees Russia-Greece meetings and Euro area leaders are supposedly meeting on Monday evening due to the seriousness of the situation so it appears the endgame is looming large one way or another.
The Greeks said this:
- *GREEK GOVT SAYS SOME PEOPLE SEEKING TO INCITE CAPITAL FLIGHT
And now we know who: the same ECB staffer who leaked the ECB's "adjustment" to QE to a select group of hedge funds 10 hours before the news was public: Benoit Couere.
As Reuters reports,
The European Central Bank told a meeting of euro zone finance ministers on Thursday that it was not sure if Greek banks, which have been suffering large daily deposit outflows, would be able to open on Monday, officials with knowledge of the talks said.
The officials said that during the closed-door meeting of the ministers on Greece, the chairman of the meeting Jeroen Dijsselbloem asked European Central Bank Executive Board member Benoit Coeure if Greek banks would be able to open tomorrow.
Coeure answered: "Tomorrow, yes. Monday, I don't know"
Banking sources said on Thursday that between Monday and Wednesday, Greeks have withdrawn around 2 billion euros from their bank accounts.
EU's Dijsselbloem added:
- "WE ARE PREPARED FOR ALL EVENTUALITIES"
Of course this should be a huge surprise given the massive outflows being reported.
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Throw those pathetic Greek deadbeats out of Europe already.
Fuck You WOlferl...you socialist fuck.
Long Physical...the less dependent you are on psychos the better you are. Take that to heart Greece.
TIMBER!!! Derivatives...collapse....in 3....2...
RIPS
When Greece exits the Euro, the Eurogroup will do everything to make it as painful as possible for the Greek people to prevent the other periphery countries from thinking it looks like it’s a good idea. Never let a good crisis go to waste after all.
Well, i guess, since they are Greek they need no help from the Eurogroup to make it as painful as possible.
"Panic!" "Fire!" in crowded theater! "Havoc!" and loose the dogs of bank runs.
Guys. It's only Thursday FFS.
unsure= absolutely certain
Any Greeks out there? I think this was timed to let the poor bastards get the (probably very last) mid-month social services payment. I don't know if Greek government employees are paid mid-month and end-month, too. If that mid-month payment just went out, then they give the peons a few days to yank all of it possible out of the bank and 'manage' expectations that there will probably be no end-of-month payment - or at least one where they have any access to the cash. The only question is who grabs the month-end money: the theiving Greek government, the Greek bankers and oligarchs, or the IMF.
If they do close the banks, the Greeks will go full-retard and burn those fuckers to the ground. They will stop short of wood-chippers for the banksters, which is ALWAYS the fatal mistake the angry populace makes.
Somewhere in all this was a guy who said "Hold my beer a second. Watch this."
Benoit’s misstatement was misquoted…
And US equities ramp up big - flight to "quality", get out of Greece with anything, or just more MOAR?
IMF "Blesses" USA Bank Runs, Says Unsure If Banks Will Reopen Monday
Future headlines.
This is the JV game before the varsity takes the court.
Please don't use the term JV. The last time some unnamed person said that we found out the JV team was significantly better at their game than anyone thought and the Varsity team shit their pants at the thought they might have to play them.
Absolutely agree.
Don't think of this as "how much will it cost the EU to write off the Greek debt". Think of it more as "What price tag does the EU want to place on a blueprint for exit from the EU".
Once Greece exits, there will be a precedent and very clear roadmap for other indebted nations to follow. If it becomes a possibility for countries like Spain and Portugal to map a similar course, how much willingness will there be to prop up such economies in the future?
Forget the midgets. Who is going to pay for Italy and France ?
... When Greece exits the Euro, the Eurogroup will do everything to make it as painful as possible for the Greek...
They better be ready to prop up all their FUBAR European banks, which is most of them... Greece will be the first in a long & glorious line of European deadbeats. There is no better collection of bankrupt countries than EU. What cannot be paid, won't ! It's the law of gravity, applied to economics...
As soon as the first wave of derivatives blow up,
there won't be any banks left to worry about;)
Is it time for popcorn yet?
Dijsselbloem's "we are prepared.... " reminds me Ben's "crisis is contained".
I hope they have plenty of oatmeal over there.
Something to eat with their crow?
aha, it was he who forgot to tell the (ex)CEOs of DB!
It only means that he holds his Preparation H tube close at hand...
Uh.....and the ISDA is controlled by whom.......?
Is Goldman long or short (fill in the blank)?
@knuck - How many milliseconds are we talkin' about here?
see HFT. Nanoseconds. The algos will do what they have to do, no way to stop them. They are hiding in huge dark server rooms. RTFM always.
Good point there! What we really are talking about is Derivatives books at the major banks aren't we? Many EU banks are technically bankrupt, any losses in their derivatives books would make their downfall a sure thing. Greece can't default, all the CDS would come due, all that insurance sold on Greek bonds. This story is more than Greece, it is the nature of the financial system itself!
Please, the CDS market will simply "dissappear"... All of the central bank and financiers debt will be forgiven (again), yours will not.
Come on Jack, we have seen this multiple times over the last 40+ years!!!
But.....but......but.....this time it really IS different. CNBS said so.
the cds insurance is the game all else are just a means to an end.
hank the crooked paulson, presently laughing as he fishes on a lake somewhere.
No one is worried about CDS and derivatives because the Rule of Law died long ago, and was buried with a stake through its heart in 2008. Did CDS and derivatives blow up AIG, GE, Govt Motors, Crappy Motors, Cyprus etc? Of course not, When it gets serious, first they lie, then they either ignore the law, or change the law to suit the needs of the oligarchs, never the sheeple. Greece will be no different. These sociopathic bankers have already decided which cows will be sacrificed to thin the heard just like Bear Stearns and Lehman. They run the world just like the mafia and this is just an example of going to the mattresses. Hell it's all printed fiat anyway, so it really doesn't matter as they will just print MOAR, plus get a taxpayer bailout to make up the loss. WINNING!
Well said SD, unless this has been planned. They can let the chips fall where they may (global economic meltdown) and !presto! there's your reason for implenting martial law & NWO laws.
"Don't fool yourself (Wolferl), it's going right up your poop chute" -Zappa
"I knew you'd be surprised!" -Zappa
Watch next week when to everyone's surprise Europeans find all there pension plans are stuffed with Greek Bonds.........and the winner is....the Bankers.
But Kirk, Woferl is into S&M. I've heard German nazis prefer it that way!
Don't throw them out; let them leave on their own accord just like they've been threatening to do for months. Greece wants to stiff its creditors? OK. Go live life as a defaulting deadbeat and see how life treats the Greeks. Demanding another bailout to avoid a default is the height of Greek arrogance/desperation and it would be the height of ECB stupidity to do it again. It's time to let the Greeks back up their threats to leave and let the chips fall where they may. The ECB/Germans, etc. will take a huge hit and the Greeks will take a huge hit. There is no other viable solution. Let's roll.
How does one define "creditor" in a world that adopted "mark to fantasy" accounting and money creation does not require any real collateral? If by "roll" you mean let the fucking heads roll, then yes, I agree. Let's roll.
Roll the dice then, and start praying. Deutshe is a pillar in the Wall Street casino you know, derivatives on their books around 70 trillion. It has nothing to do with "Greek debt". That's the cover of the book, read on...
anti-syrizite.
Throw those pathetic bankster deadbeats out of humanity already.
Wolferl, call your pimp. You've got a client. You have to meet him in his hotel room in your Nazi uniform, with your SM muzzle and your handcuffs. And don't forget your lipstick.
good reporting!
Greekcoin last price $0
Since they want to seize people's money, anyone still having money in a greek bank or even in greece, is nuts
But it's for the children......
Damn
those children ...
Yea the Oligarchs children.
Solution: We must all become oligarchs.
Oooorrrrrr.... all the oligarchs have an unfortunate nail gun accident.
Yes, the children do taste better when seasoned by spices harvested by slave labor in India. We couldn't have those spices for such a bargain without the TPP.
For the children indeed.
And a side of fava beans.
Really? I better go make a deposit now before they close.
Crap! I need a notary.
11th hour kick save. USA FED hits alt-p and throws the Greeks the money.
Fuck the IMF, fuck the EU and fuck NATO
You didn't make that up yourself.
finally some kind of "decision" or outcome or whatever?
well, has been promised before.
being a bankster in greece tomorrow will be a challenging opportunity (so to speak)
Greece meets Russia in St Petersberg whilst France and Belgium Freeze Russian assets and then the ECB green lights a bank run after another failed meeting and mudslinging and now "Pro Europe" protesters appear from nowhere in Athens.
Is this actually, finally, about to kick off?
One would hope so. I miss the days of fall 2007 - spring 2009 where self righteous fuck heads would lose their shit on a regular basis watching fake markets collapse.
+ 1000... your comment cracked me up. Hip hip Hooray!
Three words: Silver backed Drachma
Three words: Where's the silver?
https://www.youtube.com/watch?v=R6_eWWfNB54
To the people of Greece: Start using Ag, no need to wait for anyone to tell you to do it, if you are a producer of Feta cheese start accepting Silver for payment, if you're taking paper out of a bank- convert it to metal and start using it to trade with but also become a producer of something, work hard and work smart. Build a network of producers who are like minded. Cottage industry combined with sound money would be a nightmare for the leeching classes IMO.
It would be awesome just for once to see these ECB hypocrite/bankster servants lose and greece is the first one to default on ALL debt. Losing faith that it will ever happen though. the bad guys always win.
The ECB has absorbed most or all of the private bank balance sheet liabilities related to Greek sovereign debt. Time to pull the plug. The banksters will survive, but the ECB will need to be bailed out...by the people. The peasantry always pays.
Also, this has been a social engineering practice run for what they will do in other Western countries.
aha, but but somebody must of forgot to tell the (ex) CEOs of DB!
Same old modus operandi.
Here is what an ex-Finance Ministry official said today during Ireland's investigation in to the Bank Bailouts there
Former finance ministry head says European officials used anonymous media briefings during bailout talks to undermine market confidence Irelandhttp://www.telegraph.co.uk/finance/economics/11683995/Ireland-pushed-int...
But...but...EU 'Solidarity'???
I remember some of the stories used to scare the Irish into bailing out the banking system.
" Pointing to Ireland's gains as a member of the Euro, Mr. Barroso looked to Iceland. “People were going to the ATMs and there was no money,”
This was a lie, there were no problems with the ATMs, the banking system never stopped working during the crisis.
This is how the EU operates, scare stories, tricks and lies.
if there wasn;t going to be
a bank run tomorrow
there will be one now..
Remember, if you're going to panic, be the first to panic.
Greeks run out and buy physical Gold/Silver. ECB Un-Blessess said bank runs.
Greece, time to play the "WE ARE ATHENS!" card, a la King Leonidas.
Or, if you prefer, play the Nuland/Nudelman card of "FUCK THE EU!"
Fat Lady is singing!!!!!!!!!!!!!!!!!!!!!!
True
thought that only happened in america? Isn't Europe avoiding the obesity epidemic?
Greece has entered the Acropolis along with the entirety of the wholeheartedly corrupt, and bankrupt, European Union which, will most certainly fail within days of Greece contagion thanks to Goldman Sachs executives, Alan Greedscum, Robert Rubin, and Lawrence Samuelson 'Summers'.
NOTE: The Three Stooges just destroyed the entire World, Z/H.
It is NOT a coincidence that Tsipras's meeting in Moscow this weekend is being pre-empted/countered by the two-move of (a) $50 Billion penalty for Russia, and (b) Bank-run/Bank-holiday this same weekend.
Folks, shit is getting serious: Both sides are Upping their Bets in their game of Texas Hold 'Em, because both sides believe they hold a strong hand.
Russia can NOT back down, because it's an Existential Threat issue to them. The US, by contrast, chooses not to back down, but to escallate. Seems like they will have to keep escalating until they have to show their Hand (Russia: "All in. Call.")
Note that Ziocons are world-class masters at Complaining, Whining, Guilt-Tripping, Haggling and Bluffing. Plan accordingly.
Also, another mass shooting in the US mainland last night, followed by another "blame the firearms" Obama speech.
Pure coincidence I'm sure - all of this three days after Jade Helm 15 has begun.
Shit has begun to get real.
The illegal regime of the Bath House will be destroyed if he goes after the Second Amendment.
It predates him by quite a number of years.
You sir are an optimist. Good to see.
..gladio C has begun
I want my money and I want it now!
should we run down to the bank
and withdraw some cash.
no lets walk down there
and withdraw it all....
Whoo Doggie! Here it goes!
*popcorn, zagnut, and a 44 oz. spiked beverage*
Jeroen 'Template' Dijsselbloem is an incompetent *ssh*ole.
Anyways, Greece will default within the euro and EU.
I'd like to say a big Thank You to the ECB for having our backs.
Yanis Thopadopolous
( doctor of venereal diseases Thessaloniki Hospital )
i love how a fucking rumor about the banks not being able to open monday, and yet the ''markets'' dont flinch.
yet, if the ''markets'' had been down significantly today and there was a meaningless rumor that was positive, all losses would be wiped away.
fucking farce
Even DAX popped 200 points in after trade. In whole, it regained a total of almost 500 points from today's low of some 10800 points to almost 11300. Quite astonishing in fact given the state the whole EU is in. Seems like the bad news really are good news.
Why would the markets care, talk is that Greece can be and is contained. Risk is geopolitical. Poor Merkel has to carry the burden of a failed chancellor. It matters not for the money.
Benoit "Sentator Pallpatine" Couere:
"Witness the power of this fully operational battle station!"
Quick someone write all their demands on a napkin.
Dijsselbloem prepared ? Even wtih his pants on fire he has no clue.
The slowest collapse in the history of the world! It's like waiting in line at Disney World for Space Mountain.... as soon as you get to what you think is the roller coaster, the GD room takes another 90 degree turn!
Grexit is already built into the prices of .... everything, including stocks, bonds and gold. If they default and have bank runs... won't make almost any difference at this point. Anyone who thinks this will cause a big drop in anything (other than Greece) is fooling themselves. If anything, it might be time to buy Greek real estate if they default. It is amazing what you can buy there right now.
Why would you say something like this on a Thursday and give people of Greece all day tomorrow to extract/transfer every penny they own. Go Greece!
"ECB TOLD EURO ZONE FINANCE MINISTERS IT WAS NOT SURE IF GREEK BANKS WOULD BE ABLE TO OPEN ON MONDAY- OFFICIALS"
Dark Helmet: Who made that man a banker?
Major Asshole: I did sir. He's my cousin.
Dark Helmet: Who is he?
Colonel Sandurz: He's an asshole sir.
Dark Helmet: I know that! What's his name?
Colonel Sandurz: That is his name sir. Asshole, Major Asshole!
Dark Helmet: And his cousin?
Colonel Sandurz: He's an asshole too sir. Banker's mate First Class Philip Asshole!
Dark Helmet: How many asholes do we have at the ECB, anyway?
[Entire ECB stands up and raises a hand]
Yo!
If you have "Y" Euros (Greece) you better dump those too for PMs.
Spain, Portugal, Ireland, and Italy take note of the ECB playbook...they will make you dance for terms that will wreck you countries; and if you dont play they will wreck as much havoc on your economy and banks as possible...that's western style democracy....
He who defaults hard and fast is always much better off than a slow blood letting...look to Iceland. Fuck these Fascists over hard and fast.....
Update: what else - an official denial: EU OFFICIAL: ECB DIDN'T SAY GREEK BANKS MAY NOT OPEN MONDAY
So, Benoit did not say what he said?
AHAHAH
You misunderstood something. The statement is:
GREECE OFFICIAL: ATHENS DIDN'T SAY ECB MAY NOT OPEN MONDAY
The key to understanding what is going to happen in Greece is to understand that Zion's EU and ECB needs Greece more, a whole lot more, than Greece needs Zion's EU and ECB.
"There will be blood."
Liberty is a demand. Tyranny is submission..
In Europe, banks open YOU!
I wonder what would happen if Russia and China took a major crap and dumped US T bills and bonds on Monday? "WE ARE PREPARED FOR ALL EVENTUALITIES", i have my doubts.
if ever the "caught between a rock and a hard place" was true it is now:
Bail out Greece:
Risk Peripheral "Us Too!!!" Contagion as the Euro implodes from Peripheral pressure to allow all debt forgiveness for all the PIIGS ala Greece.
Don't Bail out Greece:
Risk Peripheral Grexit type destruction of all other PIIGS as the Euro implodes.
Either way:
The Euro Implodes.
At the risk of sounding dramatic;
***WARNING***EUROZONE IMPLOSION IMMINENT***
***WARNING***EUROZONE IMPLOSION IMMINENT***
***WARNING***EUROZONE IMPLOSION IMMINENT***
***WARNING***EUROZONE IMPLOSION IMMINENT***
***WARNING***EUROZONE IMPLOSION IMMINENT***
***WARNING***EUROZONE IMPLOSION IMMINENT***
***WARNING***EUROZONE IMPLOSION IMMINENT***
***WARNING***EUROZONE IMPLOSION IMMINENT***
***WARNING***EUROZONE IMPLOSION IMMINENT***
***WARNING***EUROZONE IMPLOSION IMMINENT***
***ESCAPE TO MINIMUM SAFE DISTANCE***
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