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Varoufakis Confirms Greece Will Default To IMF Today
May as well spoil the ending of what happens at midnight local time today. Nothing (as previously reported). From Reuters:
- GREEK FINANCE MINISTER SAYS GREECE WILL NOT PAY IMF ON TUESDAY.
Visually:
AP has the well-known by now details:
Greek Finance Minister Yanis Varoufakis confirmed that the country will not make its payment due later to the International Monetary Fund.
When asked while walking out of the Finance Ministry about whether Greece will pay the 1.6 billion euros due to the IMF, Varoufakis said "no."
His comment came amid speculation that Greek Prime Minister Alexis Tsipras is trying to craft some sort of last-minute deal with creditors before the payment is due and before the European part of Greece's bailout comes to an end.
A Greek official said Tsipras has spoken with European Commission President Jean-Claude Juncker, European Central Bank chief Mario Draghi and European Parliament president Martin Schulz.
The official did not reveal what was discussed.
To which Merkel had a prompt reply:
- MERKEL SAYS GREECE'S BAILOUT RUNS OUT AT MIDNIGHT
The default may be in the books, but the bluff continues: can Greece default in the Eurozone as Varoufakis has claimed all along, or will the collapse of the Greek banking system tomorrow after the ECB makes the ELA illegal topple the government? Find out in a few short days.
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Don't listen to those voices in your head.
They're not real.
"When did you say the earth would stop turning?
When did you say we would all start burning?
When should I make a pledge?
Should I listen to the voices in my head?
Connect the god damned dots
Connect the god damned dots
Connect the god damned dots
Who am I trying to impress?
Who could care less?
Tell me something I don't knoooooooooooooo."-'Big' Al Jourgensen
Don't you have a church to vandalize or something?
word has it that God has ordered Jesus to take out Rothschild
Rothschild works for the Anti Christ, the pope. How wealthy is the vatican? Much more wealthy than Rothschild....
your statement used to be somewhat correct, for a short time in the 19th Century. update a bit your agit-prop, will you? the Papal States are history, Italy gobbled them up in the 1860's
Hopefully Mossad spells no better than you in the latter case :-)
Bullish. BTFD. /Sarc Off
This has to be the biggest ponzi scheme ever developed in the history of the world.. fiat currency created bits on a computer screen causing the hardship of millions of ordinary good living greek people to take what ever little real wealth they have left.
protect your family acquire gold bullion asap.. this is now a scramble for safe ground..
www.teamramgold.com
Gold is a bigger ponzi scheme. You can't eat it, drink it, or even wipe your ass with it. But you buy hoping that you can use it in the future to get something to eat, drink, or wipe your ass. All the while ignoring that your timeline in life is short and you have no fucking way to know what your metal will be worth when you need it.
gold bad, odious debt good, is that your line mr trooper pooper?
no
Wow, that was a Good retort.
Absolutely agree. I know the time when people could not get food even with gold.
What you need is ability to make or purchase food.
Today it is US dollars.
I find eating or drinking dollar bills or euros somewhat difficult.. they dont even make great ass wipe paper... it just spreads the shit all over your ass crack... but hey what do I know..
but you can wipe your ass with dollar bills which in a couple years just might be cheaper than buying charmin - just because most people have the attention span of a gnat, and lust for instant selfish gratification does not make gold a bad thing to own - pass it down to your kids if need be
"money is gold, and nothing else" --JP Morgan
100% correct unplugged.. physical gold ownership is a long term deal.. speculate on comex paper if its short term gratification your after. . Physical ownership is a savings plan.. why save in dollar/euro thats depreciating faster than a ford mondeo being used as a taxi... fuck me zerohedge readers are all intelligent professionals... this is basic stuff... save in bullion spend in fiat !!!
if people dont have the £$€ to save a bit of bullion each month then use the marketing system to earn commissions and acquire your bullion with that.. we are giving people both the bullion and the means to acquire it... we spout enough about gold and economics on ZH why not profit a bit from that knowledge by referring people to acquire bullion... but perhaps ZHer's are to aloof for network marketing ...sarc
www.teamramgold.com
for Christ sakes ... quit the spam
You forgot about Goldschlager.
Ask the folks in Argentina, Cyprus, Greece and Venezuela what they think of their gold holdings.
T shirts $57.00 each
I think that Junkers - who is a serial liar as we all know ("when things are bad, you lie")...they will call it a suspension of payments, let Greece stay in the EU, and try to hide everything under the rug.
they will kick the can until civil unrest/civil war destroys the can
Well, that was fast. /s
“How did you go bankrupt?"
Two ways. Gradually, then suddenly.”
- Ernest Hemingway, The Sun Also Rises
Next up....default to the ECB on 20 July.
When the default goes own offilly i hope the title of the Tyler story for it is
My Big Fat Greek Default
The problem lies in one or two aspect of the nature of humanity.
The banks want to enslave people to debt money in the same way that a drug dealer enslaves their clientele to drugs. Initially the banks give the leaders of the country all of the money they could possibly want for themselves and for their programs (look to the Ukraine now) ... and they give them more and they give them more and the country thrives, people are pampered and the leaders become extremely wealthy, thinking that if there is a problem then that problem will only show up at some point in the future after they are gone.
Then one day, the bank says to the leader or the next leader "you owe us" and because you owe us, you must do as WE tell you otherwise you will lose all future money, your country that has been hooked on easy money will die and you will lose all of your power. This is the point where Greece is now.
The are many ironies. The most important of the ironies is that the money that the banks supply has ZERO intrinsic value. It is just a medium of exchange. The bank creates the debt money out of thin air with no tangible loss to itself if it simply disappears. Additionally, the original leader could have been wise instead of greedy, had some self restraint and chosen not to be corrupted by the banks ... but we have found that wise leaders become enemies of the banker controlled world (they cannot stand anyone not being corrupted and enslaved) and so they become the target of assassins or wars, are thrown out of power and replaced by someone compliant and corrupted by the banks (why is it that unelected technocrats are taking over? They are all corrupted and part of the banking system).
While I personally believe that people have a karmic responsibility to keep their commitments and that people who make bad commitments are no less bound by them. I also believe that the commitments forced upon people by banks are made with an intent to take advantage of vulnerability and ultimately to defraud. Banks risk nothing in the creation of debt money in an attempt to enslave and defraud. It is probably morally rational to default on bank debt and to pay back the banks with the "nothing" that the banks gave you in the first place (created out of thin air).
Is it however, morally right to default on a commitment, any commitment, even if that commitment was made with an intent to enslave and defraud you? That is a bigger question and one not only for the borrowing of money, but for life itself. IMO, it is probably more morally defensible to default than to align oneself with the banks.
"Neither a borrower nor a lender be". There is a reason why the Rothschilds have been rumored to set their dinner table with a place for Satan.
Bullshit !
You can say NO to Debt and NO to voting in corrupt Politicians.
You are free and that freedom means that you are responsible for your own actions.
That is the difference between a free Man / Woman versus a slave.
nothing works without finances or Banks or Capital !
So , to blame the banks is just Horseshit and pure stupidity -
the blame lies with corrupt politicians like Tsipras and Varoufakis.
they will ruin Greece and steal whats left...
even now they want more bailouts.
Time to take a reality check !
without Banks most of you would live in a cave...
some of you probably do...
but that is not because of Banks,
but mostly because of your own failings.
In their own murky little world, Tsipras and Varoufakis are Game Theory winners -
while most Greek People will loose everything,
even their own dignity.
WR;)
"without Banks most of you would live in a cave..."
Without publicly owned Banks, you mean. These inscrutable, international, privately held, legally immune usurers will have most of us back living in caves again before you know it; if you can afford their rent.
Nations were notably frugal when they were borrowing from themselves; national balance sheets went exponentially red immediately after Basel 1 when
"...the Basel Committee was established by the central-bank Governors of the Group of Ten countries of the member central banks of the Bank for International Settlements (BIS)... A key objective of the Committee was and is to maintain “monetary and financial stability.” To achieve that goal, the Committee discouraged borrowing from a nation’s own central bank interest-free and encouraged borrowing from private creditors, all in the name of “maintaining the stability of the currency.”" -Brown
So, other than the private banks, how has Basel 1 been working out for everyone else over the last 4 decades? (Hint: check inflation adjusted wage rates over that timeframe)
That's not a middle finger he's holding up in the picture, it's a ring finger. Step right up ladies, looks like he's available. But if you ask him out to dinner you might have to go Dutch.
In my experience the one who does the inviting pays the tab
Figures. Tuesday is the day I am supposed to watch Corzine, and his server room kiddies, and the comingled funds of millions of americans. It could be worse, at least I don't have timmay as a ward anymore.
Greece is like a person who deliberately stops paying his mortgage...but continues to live in the house..will not vacate until all the legal proceedings have run their course...when forced out...lives under the bridge and then starts collecting welfare...and the merry go round just keeps going...
Hey, man, don't lump me in with Greece. I stopped paying my mortgage as I could not get the debt validated. So the bank TRIED to foreclose on me but, of course as in almost all foreclosures, they used forged fraudulent documents. I called them out on it and they made a motion to dismiss...three years later. So now I just pay insurance, taxes and upkeep. I am not living under the bridge, ha-ha. I am going for a quiet title action soon to clear all the sister fucking banksters off of the chain of title. Thank you banksters for your greed in your massive securitizations of mortgages which led to almost everyone having a broken chain of title.
I forced THEM out.
Well stated...at least you have a plan..and hope it works out..
Living the house without paying is better for the creditor than having it sit empty. Just saying. In Greece's case the first order of business is putting in a fair and strict tax system. Good luck with that. My father-in-law was Greek and had to bribe the doctors to get the "socialized" medical care. Hard to pay bribes and taxes at the same time.
Yanis Varoufakis is a fucking rock star, making the EU girlies get their panties in a twist.
EU "negotiators" can't even have him in the same room, and habitually kick him out or make demands that they will not meet if he is present.
Anybody who is loathed by the EU money men like that is allright in my book.
Greece is the guest of the Hotel California ( Troika ). You can check out but you can never leave.
whether it is the end of the bull market or not--who cares. Trade the swings-they are giving you enough points in both directions. Weakness turn date have been for June 22nd and early July since June 11th from Woody Dorsey. See here
A Black hole drop set for 3rd quarter-the 3rd quarter starts tomorrow!! Last black hole he predicted 1 month before it happened-TO THE DAY--the SPX shredded 200 points and then rallied 280 on his exact low date. This guy is a magician at picking these turns. I have made a fortune following him. See for yourself!
When the money runs out...it is time to barter for what you need...I am disappointed the Greek government did not offer a "Barter 101" course to help out the citizens...It could be a new TV hit...
Time for that "100 things to hoard during wartime" list.
Bought some physical gold and silver a few days ago, and look to get a little bit more if they continue to knock the price down.
That middle finger is what Varoufakis gave the homeless man,who asked for some spare change,to buy a cup of coffee..Like most entitlement whores,the Greeks are good ar spending your money,but when it comes to helping someone else,it's "fuck off,and get a job,you lazy bum"..
The tiny purple fishes run laughing through your fingers,
And you want to take her with you to the hard land of the winter.
Her name is Aphrodite and she rides a crimson shell,
And you know you cannot leave her for you touched the distant sands
With tales of brave Ulysses; how his naked ears were tortured
By the sirens sweetly singing.
https://www.youtube.com/watch?v=-BGlFsf9DM8
Silver is looking to spot at an 8-month low.
Obviously, there is no concern on the part of investors that Greece or PR will default.
In fact, if you follow the gold/silver debacle, apparnetly, things couldn't get any peachier!!! (three exclamation points, a la the Mogambo Guru)
I would think if France, Germany, China and Russia all defaulted on the same day, silver would finaly reach down to my buying point of $12/ounce. I still would not buy. I am waiting for it to go to zero, and then the exchanges will simply give it all away. I will take 20,000 ounces and maybe about 1000 ounces of gold. Thank you.
I know they are worthless relics, but I need lots of door stoppers and paperwieights and copper wieghts just aren't cutting it.
Anybody seeking to dispose of their gold or silver during the non-panic of 2015, please call me at 1-866-BOATING.
Really, though, I've been watching and waiting and can only conclude that the only entities going broke are governments and banks, to which I can only say, Ooopah!
I'm going to get very, very drunk and extremly high if the Dow cracks another 300 points today. Actually, I'm going to mow my expansive lawn and do the booze and weed thing (it's not mine; it's my firend's, really) no matter what.
The fraud and abuse will not stop. Average Joes and Janes are going to get ass-raped even worse over the coming years, but it doesn't have to happen to you because there are alternatives. Capice?
Good luck to all. Long black markets, seeds, weed, tools, land and barter (and, sex with hot chicks).
Greece is like an old Dorris Day movie where Dorris got the nickname as the ;virgin on the verge'. Her character was always on the verge of being seduced but did not quite make it. Greece is like the defaulter always on the verge of defaulting to the big bank trying to ravige the poor country.