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"Bank Holiday" Preparations Begin In Greece, Lines Form At Athens ATMs
The writing has been on the wall for quite sometime.
Deposit flight from Greece's ailing banking sector has been running north of €500 million per day this week as the threat of capital controls casts a pall over the Greek government's efforts to reassure the public and head off a terminal bank run.
Sparking a panic has been the most powerful tool at the troika's disposal to bring PM Alexis Tsipras to the negotiating table and force Syriza to either concede to pension cuts and a VAT hike or risk social and political upheaval in the face of dark ATMs and public protests - we said this first in February and finally even the Greek government realized just what game Europe is playing.
Until now, Greeks had taken the barrage of headlines in stride with a stoic fortitude that would impress Marcus Aurelius but now, it appears as though the 'institutions' might have finally broken their spirits.
Earlier today, the ECB agreed to lift the ELA cap by just €1.8 billion, far less than Greek banking officials had requested and probably just barely enough to cover Friday's withdrawals. And so, as Europe's "Lehman Weekend" may finally be kicking off, the ATM lines are officially forming as Greeks prepare to be 'Cyprus'd' and as the country stares into "template" oblivion.
Long queues at ATM's all around Athens center. #Greece pic.twitter.com/k4wgerQ7gP
— Elly Vintiadis (@EllyVintiadis) June 19, 2015
What is perhaps more shocking is that anyone still had money in Greek banks at all...
More ATM line photos from Corriere:

And in yet another sign that the next week may be the beginning of the end, Cyrpus is preparing for a bank "holiday" in Greece:
Bank of Cyprus, Cyprus’s largest lender, is preparing for an extended bank holiday in Greece as continuing deposits outflows may force authorities to take this type of step and impose capital controls.
“We are preparing to facilitate our customers with operations in Greece with additional liquidity,” a Bank of Cyprus source with knowledge of the situation said on condition of anonymity. “This is something we don’t want to see happening”.
The source said that in recent days the bank saw an increase in deposits inflows, both from Cypriot and Greek depositors, amounting “hundreds of million euros”.
Reuters reported on Thursday that European Central Bank Executive Board member Benoit Coeure told euro area’s finance ministers that he was not sure whether Greek bank will be able to open on Monday.
The Bank of Cyprus source also said that the bank cannot be ruled out that a bank holiday in Greece could also affect the Cypriot banking system via the units of Greek banks operating on the island in the form of deposits outflows.
The source was not in position to name the amount in additional liquidity the bank will need in the case of a bank holiday in Greece nor the number of its customers that would be affected.
“In that case, a bank holiday in Greece could also prompt Cypriot authorities to also impose a bank holiday in Cyprus,” the Bank of Cyprus source said.
Finance minister Harris Georgiades who was talking on state radio CyBC today said that the units of Greek banks operating in Cyprus are not affected by what is happening in the cash-strapped country.
“There are in Cyprus banks of Greek ownership,” he said in reference to ?lpha Bank Cyprus Ltd, Eurobank Cyprus Ltd, National Bank of Greece (Cyprus) Ltd and Piraeus Bank (Cyprus) Ltd.
“I want to clarify that they are Cypriot banks with a Cypriot licence, their own capital and capital adequacy, important liquidity with no exposure to Greece or to the Greek government or banks,” he said. “The fact that the shareholder is a Greek bank is not making any difference. What makes a difference in a positive way is the stability in and the confidence to Cyprus and its financial system which is internationally acknowledged”.
Interestingly, it appears someone got a hard tap on the shoulder because the above has now been removed. Here's a link to the cached version which was also captured by another local publication.
And the swissy is bid.
The only remaining question is whether today's deposit bleed will be dramatic enough to force Brussels - or Athens for that matter under pressure by the local banks - into implementing capital controls over the weekend.
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Coming to an ATM near me? In a way I hope so.
Once again the goldbugs and Bitcoiners at ZH got it wrong.
Those pictures are of people showing exteme confidence in their central bank, the ECB, Mr. Draghi, and Mr. Yellen. You see, those pictures are of people lining up to PUT money on deposit with those banks, doing their civic duty to keep the banking system liquid and whole.
Let's face it. A bank with no money is not a bank. Greek people know this and it's about time the neo-liberals at ZH learned the same.
Yours Truly,
MDB
Obviously the gold rush is on... >>> https://plus.google.com/+GaleInnes/posts/JQooe7rpV5M
I told you guys, the Bank Bail-Ins are coming, cashless societies in 3...,2....,1....
The fact that there are lines is proof of how asleep most people are!
Please let this shit show be over so we can get past the phony recovery into the real depression....
Where all the black people?
It is obvious that the troika are war criminals, seeding the fields for massive human death.
They are using their positions deliberately to destroy a nation - that is an Act of War by anyone's definition. And because they are doing it through criminal methods, they are War Criminals guilty of Crimes Against Humanity.
It is one thing for economic disaster to occur through the idiocy of players; it is another completely to deliberately cause an economic disaster with foreknowledge it will result in death, societal destruction, anarchy, and all the other inhumane consequences that the troika knows - and is using this certain knowledge - to inflict terrorism on any nation.
In a world with integrity underpinning its society, the leaders of these institutions, and the heads of state and their cabinet ministers who are participating in these crimes would be executed without hesitation.
Greece has the right to survive and be free of this terrorism. It therefore has the right to take whatever steps are necessary to administer the execution of these criminals to first stop them from continuing their terrorism, and second, to serve an incentive for others to not copy their crimes.
It is my most sincere hope that something will transform the Greeks from debt slaves into keepers of the nation's existence as an entity free of this terrorism.
I applaud a Declaration of War as the only available self-defense mechanism available to Greece, on those who terrorize the nation, and that Greece execute the terrorists as quickly, and completely, as possible.
-30-
The alarming rise of Neo-Naziism in Europe.
Even more alarming. . . The truth.
https://youtu.be/68V1-2OGeYw
The world knows that what is occurring is an act of brutal subjugation designed to instill terror into the hearts and minds of any other nation that dares question the troika or its power. Therefore, this is not a financial or economic decision; it is an act of crushing the entire fabric of a society for the sole purpose of reigning over it. As such, it is not only legally indefensible, but it is morally repugnant on the level of Hitler's concentration camps, Stalin's famines, Pol Pots' Killing Fields, Turkish genocide, and Ukraine's ethnic cleansing.
-30-
… when wealth dries up, ethnic diversity becomes EXTREMELY problematic.
Easy money to buy Greek bonds now, because it's all Kabuki theater, as they've already planned to do a last minute rescue to prevent Greece from leaving the EU (this is what happens when the ECB, like the Fed, BOJ, PBOC, etc. has an electronic fiat printing press), even if it means forgiving ALL of Greece's debt.
Those Greek bonds will be worth 2x as much in 3 short months after this whole thing plays out, and the yields drop to 1/3 of where they are now, after Grexit turns into Grexscue.
Let's all remember that the money in a bank is unallocated. The depositor is giving the bank a loan and it is the liability of the depositor to have funds at a bank. This is why it is so stupid to have a bank account.
Never let a good crisis go to waste. The Greeks will be made an example of what happens when you default and exit the Euro.
This has got to be the most boring standoff in fucking history. It's like two old blind grandpas mumbling threats at each other while twiddling with their six-shooters trying to get them loaded. Everyone gave up watching a long time ago. Maybe someday one of them will manage to get a bullet in and shoot a foot.
Could I have a penny for every one of "this is it for Greece" posts on ZH?
This is it for Greece.
:)
The sooner the following lesson is learned by humanity, the sooner we can begin to improve our quality fo life trajectory...
We are all "Jews" to the technocratic "Nazi" Banksters.
Unless you comprehend that skeleton key to life on Earth in its present day, you have no chance at comprehending how the world actually works.
Everything else is a distraction that was engineered by the technocratic "Nazi" Banksters.
All the nazi vs jew talk only steers dilutes the main message. Most people will shut down and ignore or fight anything that is said after these words are used.
The important take away from Greece (and Cyprus) is to not trust banks. The money you put in the banks is not yours. They can put any control they want on your accounts, including wiping them completely. Now is the time to make your preparations for bank runs and collapses.
Get your cash now (a few months expenses worth)! If you are blessed enough to have more money left over, protect your wealth by obtaining real, tangible assets. I'm talking about gold, silver, real estate, etc. I make candles with silver coin prizes (www.etsy.com/shop/ScentSavers) to help raise awareness to our financial and monetary situation. Yesterday, I had a 10 minute conversation with my 11 year old cousin about silver and the value of the dollar. It all stemed from a 1953 silver half dollar. He loved the way it clinked and rang when he flicked. Truely, anyone can understand the value of silver vs the value of the dollar when they are holding a silver coin!
GREXIT ‘BEGINNING OF END FOR EUROZONE’ … Which is why —>
>>All the nazi vs jew talk only steers dilutes the main message. Most people will shut down and ignore or fight anything that is said after these words are used.<<
I would argue that the response you discuss is a reflection of an irrational thought process. If those words one's mind such that thinking rationally is no longer possible, then the problem is the throught process, not the words themselves.
The Nazi's were irrationally anti-Jewish. Most people, even today, have fallen for the "It's the Jews" psy-op PROMOTED BY THE DEBT-MONEY MONOPOLISTS OF ALL BACKGROUNDS TO CONCEAL THEIR FRAUD AND OPPRESSION OF HUMANITY.
Ordinary Jewish people ARE VICTIMS OF THE DEBT MONEY MONOPOLY! Yes, the Rothschilds are mass lying, mass thieving, mass murdering Debt-Money Monopolists. So is the Queen of England. So is the Queen of the Netherlands. So are the Rockefellers. But my Jewish neighbor small business owner IS A VICTIM OF THE NON JEWISH ROCKEFELLER DEBT-MONEY MONOPOLISTS!
The point of my post is that ordinary people need to comprehend that the Banksters view ordinary people in a light similar to the way the Nazis viewed the Jews.
THINK, PEOPLE! YOUR EMOTIONS ARE BEING USED TO CLOUD YOUR THINKING!
THE DEBT-MONEY MONOPOLY DOESN'T LIKE YOU AND THEY ARE OUT TO DESTROY THE FREEDOM OF ORDINARY PEOPLE, ENSLAVE ORDINARY PEOPLE THROUGH DEBT-MONEY FRAUD, AND, VERY PROBABLY, KILL OFF MOST ORDINARY PEOPLE TO ACHIEVE THEIR STATED DEPOPULATION GOALS.
Until ordinary people comprehend that reality, THEY CAN'T MOVE FORWARD IN A PRODUCTIVE WAY.
People educate yourself such that emotional "trigger words" don't create irrationality in your thought processes.
"Oooooh, someone said "Jew," Nazi," or, worse yet, both "Jew" and "Nazi" in the same sentence, therefore I BETTER NOT THINK, I JUST BETTER DOWN VOTE AND COMPLAIN ABOUT THE WORDS WITHOUT EVERY COMMENTING ON THE THEME THAT OF THE SENTENCE IN WHICH THOSE WORDS WERE USED.
BRILLIANT!
NOT!
PS - The takeaway is that NOBODY can trues tthe criminal debt-money fraud banks OR THEIR OWNERS, QUISLINGS, AND SYCOPHANTS. Debt-money is a fraud engineered to enslave ordinary people in a vicious attack on ordinary people... much like Hitler's vicious attack on the Jewish people of Germany. As Aldous Huxley explained, the Debt-Money Monopolists fascist attack is more sophisticated than Hitler's fascist attack...
“There will be, in the next generation or so, a pharmacological method of making people love their servitude, and producing dictatorship without tears, so to speak, producing a kind of painless concentration camp for entire societies, so that people will in fact have their liberties taken away from them, but will rather enjoy it, because they will be distracted from any desire to rebel by propaganda or brainwashing, or brainwashing enhanced by pharmacological methods. And this seems to be the final revolution”? Aldous Huxley Listen to his lecture here: Aldous Huxley - Speech at UC Berkeley, The Ultimate Revolution 1962 https://www.youtube.com/watch?v=5RX-iUfPJ9I Jewish people, as well as political dissidents, Gypsies, disabled people, etc...) that didn't respect the threat Hitler represented paid dearly. Ordinary people that don't respect the threat that the Debt-Money Monopoly poses to them will also pay dearly. In fact, this system of tyranny is massive and all encompassing, THERE IS NO WHERE TO RUN FROM IT! DEBT-MONEY MONOPOLIST FASCISM HAS ALMOST SWALLOWED PLANET EARTH WHOLE! WAKE UP!
until the jews are willing to disavow the zionists, you're pissing in the wind here.
Hi for,
"the Jews" don't exist. Individual people who identify as Jews exist. Each one is unique. Almost every one has no clue how the world works and are victims of the Debt-Money Monopolists (Banksters) who act as nazi like authoritarians, but with a technocratic edge.
Hitler identified many of the Debt-Money Monopolis mechanisms, but he fell for the Debt-Money Monopoly psy-op... that the problem was "The Jews" and not the Debt-Money Monopolists!
The wolf hid by turning the sheep against the other sheep.
The result? The Jews were sent into work camps and the Debt-Money Monopolsts profited from the Jewish (and political dissident and the Gypsies and the disabled) slave labor!
I'm acting as a cognitive anti-virus trying to reveal how the world actually works.
I have news for you, no ordinary Jewish person in their right mind would support Debt-Money Monopolism. They key is to explain the system to them. Otherwise, they do what all people do - tend to follow the establishment to which they look to for guidance. WHO ifnances that establishment? The Debt-Money Monopoly.
Hitler would've taken me out for my political opposition to his version tyranny. But he identified the many mechanisms of the Debt-Money Monopolist tyrants, but he was duped into blaming the wrong people. The Debt-Money Monopoly then benefited from the people Hitler enslaved and eventually the Debt-Money Monopoly destroyed everything that Hitler claimed to value and eventually Hitler himself.
The Debt-Money Monopoly is the devil. Focusing on unwitting people who have been manipulated by the Debt-Money Monopoly, just like every other group is to waste your productive effort and to further the neofeudal agenda of the Debt-Money Monopolists.
Israel Protests: Over 250,000 join biggest anti-govt rally in Tel Aviv
https://www.youtube.com/watch?v=H5dsNvcNY7Q
The Jewish ordinary people IN ISRAEL are being punked by the Debt-Money Monopoly and the people they finance into power.
Funny thing about the "Boy who cried wolf" story: The wolf eventually did come.
I simply don't understand the connection between Greece and anything outside the euro-zone.
Should the euro suddenly collapse then I would imagine Russia would be very unhappy. In other words Germany returns to the German Mark thus "exiting" the euro itself.
Prices are very low in Europe which is normally the kiss of death for an economy.
In other words it could be a sign of illiquidity.
Equity markets have been flat-lining there all year.
Hungary is the first to throw up a border that I am aware of (against Serbia.)
If this happens across all Europe...something that could happen overnight I might add...that will be the end of the euro-zone certainly.
its the derivatives, and what it will do the the domino connected banks. douch bank hold somewhere between 50 and 75 trillion in interest rate and debt derivative - with reserve ratios in nosebleed land. think there is any concern among its counterparties, all of whom are exposed in kind, if not in degree?
"...'Bank Holiday' Preparations Begin In Greece..."
I LOVE holidays. Will there be a parade? I hope the Shriners will be there with their little helicopter go-cart things. It's both amusing and sad at the same time to see well-inebriated 50-something-year-old crackheads in fez performing precision go-carting to crowds of cheering children. What I wouldn't give for just one of those al Nusra TOW-2As!
I hope they have the clown car, too. The one where about fifteen central bankers pour out and shake down the crowd for cash and credit card numbers. That's always a real crowd-pleaser. The newest attraction in the parade is a black DHS Ford Explorer bristling with Stingray antennae and cell phone IMEI sniffers. It's flanked by rows of DHS Stazi protecting our freedoms with tazers and pepper spray barking "OBEY ME, fuckers..." and "...on the ground, NOW, potential terrorist!..." Parents will warn their children to behave or "...the feds will take you away and torture you..."
I suppose Greece won't have anything fun like that. Thank God I live in a country that celebrates our liberty and independence every July with fun freedom parades. Eat your heart out, Greece!
you're steven king, right?
Nope, but I'm somehow stuck in one of his universes. A friendly alien (one of the heads, anyway... the other one was a bastard) told me the way back could be found at the ZH site. I'm about to get banned here, so I guess I'm really screwed.
Maybe I'll try Pinterest next.
If I had any money I'd take that gamble. I think you're probably right. The whole show is a way to make the bond yields as high as possible for the only people with money (bankers) to purchase, only to then "rescue" the country to make sure that they get paid their high interest.
"Long war on the Eastern Front" has never been a bad trade.
Same goes for North Africa actually.
The Germans didn't call it "breathing space" by accident.
IMHO it's all posturing, both from Germany and from Greece.
In the end, Greece will not leave the henhouse that gave them the golden eggs (which they now have to give back) because there is no alternative, the northwestern European champagne socialists (read: Netherlands, Belgium, Germany, Luxembourg, Finland) will continue to transfer "other people's money" to southern European lazy deadbeats in order to create an egalitarian society, and the USA will happily see strategically important Greece stay in the Western Clubs (EUSSR, NATO) and big American banks will not go bankrupt because of the CDS's they issued on Greek debt.
The Saga will continue....for now.
Iceland
I dearly wish you were wrong, however you're not.
The *cost* of a Grexit is far beyond financial to the sociopaths running this NWO project.
Won't be allowed.
For TPTB people trying to preserve Western culture is indeed alarming.
Why does Tyler allow the Zero-Nazi's to propagate their hateful messages!
Think! Tyler is Nazi?
You the commenter, must end Nazi!
Tyler is not nazi, but you are stupid...
Even though Greece is broke and has an insolvent banking system it still looks orders of magnitude nicer then any area in Africa or Haiti.
...or inner portion of any American city.
Not for the resource rich nations of Africa
..here's a few pics of West Africa I took a couple years ago, much rather be there than Greece.
https://www.youtube.com/watch?v=CAaOYjHb9K0
...Even though Greece is broke and has an insolvent banking system it still looks orders of magnitude nicer...
Sure thing ! Rest assured, it will be way more fun & giggles when that shit will happen on our side of the pond...
what lines are you talking about ....people are on the beaches
They are in the other line, the one that all the white and hispanic poor people are in, for food stamps.
.
In Obama's gun free zones
Where all the black people? They're not dumb enough to put their money in a bank.
To Germans, those are black people.
They get their money from the government. No need for a bank, cut out the middle man.
Except maybe they use JP Morgan EBT cards too like in America. Very convenient, no need to ever go to the bank you just sit at home and the government puts money on it every month.
Yes indeed, what we are seeing here is the aftermath of corruption...
http://galeinnes.blogspot.com/2015/04/the-aftermath-of-corruption.html
Its certainly not the last time the west will witness bank runs. It looks like society will have to relearn the lessons of the 1930’s, that the banking system is not a safe place to keep your money. The banking powers know and thus the push to ban cash and the freedom it provides.
But the banks had to wait a generation until most of those that lived through the last depression were gone....
TOTALLY agree.
+1
If by 'the west" you mean "the entrire world", then you are certainly correct.
I thought the same thing but then I decided to make allowance for those who have ACH deposits of their paycheck or else have to cash a check. pretty big of me, huh?
Look at the original source...pics of people wearing winter coats....supposedly in the middle of June in athens where its 95 degrees right now. yeah, seems legit.
Anyone who is lining up to "get money out", is getting it from monthly dated pension, retirement, welfare, other entitlements, or auto deposit payroll checks, that are being deposited into their accounts!!!
I'm constantly amazed that even the Tyler's and most ZHers are thinking these are people who have left the "savings" in their accounts and then are just now trying to get it out!!!
This is money that was deposited today or this week at minimum and that people want out fucking ASAP!!!
Which BTW would be also happening in the U.S., if those seniors or other entitled "folks" even sniffed a chance their precious, pensions, SS, or other entitlements were in danger!
I'm sure there are at least a few morons with significant savings in the bank. Well......I'm just not as materialistic as you guys I guess. Comes with growing up poor and acclimating to poverty. When you end up with money you literally don't know how to spend it.
.
You told us? If you are EARLY, you are WRONG, so stop bragging prick. Try the same bullshit in the stock market (being early) and you'll be living in the gutter in a couple of months.
You only end up in the gutter if you do not have enough money to invest tomorrow....
the best way to make 10 million in the stock market is to start with 100 million. yuk yuk yuk
"Oh hey look, a bank run."
"Sure am glad I wasn't early for that!"
You told us? If you are EARLY, you are WRONG, so stop bragging prick. Try the same bullshit in the stock market (being early) and you'll be living in the gutter in a couple of months.
"A bank with no money is not a bank"
& a donut with no holes, is a Danish!
Nice 'Caddyshack' reference there, mate.
ancient Zen philosophy
The Zen of Basho.
I was born to love you
I was born to lick your face
I just want to know why nope is posting for MDB. Did MDB's mom take away his computer priviliges for a while?
"... I just want to know why nope is posting for MDB. Did MDB's mom take away his computer priviliges for a while?.."
Nope.
My meds ran out and I forgot my password...
Rare honesty from MDB
You obviously missed that that was a spoof of MDB.
These idiots who dont see the sarcasm in the real MDB posts need to schedule a vasectomy ASAP so their lack of intellect isnt passed on.
I give up... No shit you think....
And a donut and a tea cup a topologically equivalent.
as would be a bankster with a hole passing clean thru. like how their mouths are connected to their aholes.
Nun u Nun u Nahhh
People abroad should learn something about this. Imagine a world without (even fiat) cash, where the government can confiscate your digital money "for national security reasons". The Greek bank run must be a positive example and stop once and for all the idea of bannining cash.
Greetings from Greece
It does not matter why, you are see line of desparate people, you are jump in! Can always to ask question later, but always get spot in line. Boris is frequent night sweat waking from dream of long line.
For Sausage ?
No crazyfucknician, for the 25 cent blow jobs from your mom.
Ahh , Tooly has made an appearance , how are you , u fkin TOOL , I bet your mamma takes it up the a$$ for less in fact she's so fat and ugly she has to pay a fucking gimp to shove it up there, you want some ad-hominem attacks come and get it gayboy.
Boys you need to get along and be nice. Us adults are talking about the end of the world here.
Who you calling adults.
MOM!!!, we need a spiderman towel at the kids table! Timmy's hindenburg omen knocked over my kondratief pyramid again!
Watcha you talkin bout Willis?
So there are still actually some chumps out there with money in Greek banks ?
They have only had 2 years to get it out.
I don't leave money in American banks, but my employer insists that they direct deposit it into one.
Maybe a couple of these Greeks still have jobs and just got paid...
Just think what's gunna go down, when that happens in the US - how many chumps there will be like that. Frightening.
Imagine the chaos if around the world we all went out en masse and removed $200 this weekend.
I think there'd be some bankers losing a whole lot of sleep.
what would be more enlightening is how few people actually have $200 to withdraw...
Beat the rush.
$600 from an ATM every single day since Cyprus.
Perseverance is my middle avatar.
What if we could start today and get 1 million Americans to withdraw $500 on the Fourth of July. Would they even notice? What about 5 million?
We could give the phrase "Bank Holiday" a whole new meaning.
That's only 5 billion -- I dont think that s a lot of money these days, when we always talk about trillions.
What if ten percent of the population withdrew $1000 -- say rougly 10% of the US population went to the bank on July fourth of 2015 and demanded one thousand dollars cash -- They could just go to the printer and print baby print -- what difference does it make when you have access to unlimited cash -- I don't think it would implode the system -- it actually would be good, because people would spend that 1000 dollars on goods and services.
/
ALL HAIL CHUMBA
Whatever happened to Chumbawumba?
He is still here in the new improved ZH chat room.
Thx Sac...
There's a chat room? Is this room in Langley or Utah?
They got knocked down.
No getting up this time
The comments ran out of available space to Hate fuck and to huff glue and wobble wobble! 8)
Get long BTC for the weekend.
I bailed out of that when Failstar was pumping it up.
It's okay see those lines in Greece, soon coming to the rest of Europe and North America once Greece pulls the pin on the derivative grenade and hands it back to the ECB in one of many horribly constructed and ignored loose ends that will unravel the economic fabric of the central banking empire like a cheap t-shirt. Now if being the 10th man and taking the contrarian position on how ethical opportunity works. The greeks are first out the gate in an orderly manner while their politico-sphere runs defence for them. For the Euro and USD, run hard and fast.
For the rest of the central banking empires. They are still slack jawed with drool bibs on and thumbs firmly planted in their ass wondering why their dead horse won't pull the cart. (they aren't very bright, incredibly bad at math.) More to the point if you want to keep something to keep working, get on a horse that can run and is backed with the labour of advanced mathematics which is nice and agnostic. BTC.
As if the 60% decline in Oil Prices did not do anything to Douchebunk's extremely levered Derivatives bets...
Yeah. It is those dirty rotten Greeks, that is who.
Oh BULLSHIT.
I can hardly wait for a US Interest Rate Hike. With many of those Derivatives tied to the Ten Year it will be spectacular.
Just what is NOT being reported? (That IS the question you seek.)
Happy Trails..to you...until...we meet...again...
Happy Trails...to you...keep smiling...until...then
(Then you can frown. Never understood that line from good ol' Roy Rogers...until now.)
Well that's great, but Bitcoin is good for circumventing capital controls. Even if you hate Bitcoin, you have to admit that the Cyprus bank run was what triggered its run-up, and capital controls in Argentina further supported it. IF Greece is about to go under, then long bitcoin is a good play. If it doesn't, sell on Monday. Not that much risk. Price has been quite stable of late.
"The next step, after Greece is subdued, will be to extend that model to other, larger countries. And to redouble the austerity at home under cover of the next financial crisis by eliminating cash as a safe haven, and to begin the steady stream of digital 'bailing-in.'
This is why these corporatists and statists hate gold and silver, by the way. And why it is at the focal point of a currency war. It provides a counterweight to their monetary power. It speaks unpleasant truths. It is a safe haven and alternative, along with other attempts to supplant the IMF and the World Bank, for the rest of the world.
So when you say, the Philippines deserved it, Iceland deserved it, Ireland deserved it, Africa deserves it, Jefferson County deserved it, Detroit deserved it, and now Greece deserves it, just keep in mind that some day soon they will be saying that you deserve it, because you stood by and did nothing. Because when they are done with all the others, for whom do you think they come next? If you wish to see injustice stopped, if you wish to live up to the pledge of 'never again,' then you must stand for your fellows who are vulnerable.
The economic hitmen have honed their skills among the poor and relatively defenseless, and have been coming closer to home in search of new hunting grounds and fatter spoils. There is nothing 'new' or 'modern' about this.
This is as old as Babylon, and evil as sin. It is the power of darkness of the world, and of spiritual wickedness in high places. The only difference is that it is not happening in the past or in a book, it is happening here and now." Jesse
Very nice. Have the utmost respect for A.C. and his site.
Other food for thought:
http://failedevolution.blogspot.gr/2013/11/a-short-story-of-how-country-can.html - an older post, but the playbook keeps on playing...
And from John Ward's Slog blog, a very interesting and recent chart
https://hat4uk.files.wordpress.com/2015/06/eurofailchart.png
Sorry, chart not displaying. Supposedly from IMF data showing much higher economic growth in the EMU periphery prior to joining than after. Perhaps those in support of Grexit should post copies of it all over Greece.
Thanks kliguy for that killer Jesse quote, and thanks Lux Fiat for the links. Can't quite agree with you on placing any emphasis on GDP-based metrics - it's all a buncha hogwash at this point. However, that blog post was quite informative - filled in some important missing knowledge.
A funny excerpt from one of the comments in that article:
tight
IMF = Economic hitmen
http://www.huffingtonpost.com/2015/06/15/imf-greece-veto_n_7588594.html
Whatever happened to Marla?
She had a website called Finem Respice where she wrote essays for a while but closed it.
http://www.finemrespice.com
(h/t to the hedger who originally posted the link)
i think i saw putin standing in line over there
You borrowed too much money, Greece. Period. Yea, you borrowed it from some sketchy people but you also blew all the money on some sketchy social programs that did not add a damn thing to your economy's long term best interests. Time to pay the piper. And Germany? Bend over. You're about to go to school too.
Attributing fault or responsibility to folks who live under the boot of the state is wrong.
Replace "Greece" with "USSA" and it reads just as well. Chickens will come home to roost.
They were forced to borrow it by the banksters. Who put the proceeds in their pocket. So what is a Rich son of a bankster trolling here for?
They were forced to borrow it by the banksters. Who put the proceeds in their pocket. So what is a Rich son of a bankster trolling here for?
Spain, Portugal and Italy are next!
they haven't done this yet? are they nuts?
Get it over already!!!
(Cheezus, this is taking too long...)
Those still in should be bitchslapped for the rest of their lives.
If they’re still in it means they totally don’t give a fuck and it means their money is worthless to them.
Morons...
When is the real drachma – I mean drama – going to begin?
Paddypower gives odds of 4-6 that Greece dumps the euro by December 2017.
http://www.paddypower.com/bet/other-politics/european-politics?ev_oc_grp_ids=1989977
so you have to bet 6 to have a chance at winning 4 on that, right? ..so used to seeing odds with the larger number on the left side...
i like your style.
if you want to find a true outcome on events check out the gambling sites rather msm.
Gives Silver and Gold a great big bear hug and waves ....
" I got mine bitches "
When people are camping out overnight in teller lines, then we'll know it's serious.
If all the gold and silver bullion in europe’s online stores isn’t drained by today from greece, I don’t understand.
Even on thursday, anybody could have bought kilobars of gold, paid and have them already on transport home.
Anybody who is losing everything has only to blame himself.
no pitty here.
They should have seen it comming by a lightyear!
I’m from Belgium and most of my assets are in gold and silver already!
You're correct and in some way ( sick ) TPTB have given us all a chance to buy due to the price manipulation so in a ( sick ) weird sense its been a blessing in disguise for those who pay attention.
I just checked... the store where I buy my gold and silver still has 972 monsterboxes of silver, countless rolls and over 120 kilobars of gold and countless goldcoins.
It’s like nobody bought any.
They deserve what’s comming. Stupidity isn’t a excuse, it’s what gets you killed.
Why you fuckin' with Russia?
Because they are a vassal state..
Speaking of gold and silver, an update from about.ag re the precious metals nazi, Hannes Tulving...
Things have been very quiet since mid-March, when the court approved payment of the professionals. Then, the DoJ filed criminal charges (1 count of wire fraud) against Hannes Tulving, Jr. and The Tulving Company last month. Hannes Tulving, Jr. signed a Plea Agreement, agreeing to plead guilty.
Further details available at http://about.us3.list-manage1.com/track/click?u=6714c31fcbf953d3faede4ce5&id=a20b89ee48&e=b854b3b2ae, including information on a partner of Hannes Tulving, Jr. that appears to have had a significant impact on what happened at Tulving (this information comes from outside of court documents and public record).
Those peple don't really all look like people with 100K+ in the bank, they fear Grexit ... not getting Cyprus'd. The EU/ECB has paid for each and every fucking withdrawl for months and somehow this is still all their fault.
Greece will make budget cuts, one way or the other. They can go to Drachme's and radically reduce their standard of living in the process as they are forced into a true current account balance overnight (with the trade of worthless paper for actual Euros by the ECB to the Greek banks any pretense of balance is ludicrous). Also if the EU doesn't feel like letting them off the hook for their Euro debts and implements trade barriers they'll be fucked beyond fucked, they're a third world country without EU tourism.
Or they can play ball and slowly transition to surplus and pay a pittance each year to keep German voters happy ...
Did you have a sudden urge to put up some more bullshit Marco, or have you been thinking about this nonsesnse for a while?
Greece defaults, declares the debt odious (which it is), goes through an extruciating difficult (but not impossible) adjustment, and sees growth again in about three years.
This will start the process of unwinding this atrocity called the EU, and that unwinding process will take place faster if they decide to impose trade restrictions on Greece just to make life more difficult. Ans yes, they will also manage to redraw the geopolitical map of Europe.
if I were you, I'd rethink all those false premises in your post.
Not too odious to take out more of it to keep the ATMs running ...
As for the EU collapsing without trade with Greece, well I dare to doubt that.
McCain is in Ukraine. You know what that means.
That's right, one step closer to WWIII.
"McCain in Ukraine only adds to the Pain." That's all I could come up with off the top of my head. Any others?
McCain would be a stain on any plain, a pain, a pain , a pain is McCain....
I hope some Novorussian finds McCain and stains his brains across the Ukrainian plain.
The fallen plane didn't put enough strain on the Putain, so he got a call from Hussein--lots for his VP's son to gain.
Where is Chris Kyle when you really need him (or a Chris Kyle wannabee)/. I would be more than happy to help him sight in on McAnus skull.
Lets hope he is befallen by some 'accident' while hes there.
Wonder if he rides a bicycle ?
Can't drive an aeroplane anymore, crashed too many of those.
i'm in doitschland and keep NADA in the bankrupt banks other than the monthly payables. NADA
Ich auch.
Wollt' ich euch auch geraten haben. Ach, moment ... hab' ich ja ... schon laengst ...
So where's your cash? Stuffed down your Y- fronts and in your girlfriend's bra?