This page has been archived and commenting is disabled.
Greece Explained (In 2 Cartoons)
»
- 35921 reads
- Printer-friendly version
- Send to friend
- advertisements -
Contact Information:
Tips: tips [ at ] zerohedge.com
General: info [ at ] zerohedge.com
Legal: legal [ at ] zerohedge.com
Advertising: ads [ at ] zerohedge.com
Abuse/Complaints: abuse [ at ] zerohedge.com
Suggested Reading:
Make sure to read our "How To [Read/Tip Off] Zero Hedge Without Attracting The Interest Of [Human Resources/The Treasury/Black Helicopters]" Guide
It would be very wise of you to study our disclaimer, our privacy policy and our (non)policy on conflicts / full disclosure. Here's our Cookie Policy.
Nice try.
I hear Tel Aviv is the next stop on this big OverLords Freight Train. Not to get the money, just to cancel those Rights people there think they still have. Always gotta rub it in the losers' faces, or else they can't believe they in control.
Yeah, but lets not talk about Greece when MSM says look at the latest horror from Iran!
Meanwhile Ukraine is quietly prearing to default. TPTB are silent. Why? Because Ukraine is going to sell off its prime industrial land etc at bargain rpices?
A little late.One of my clients already bought the choicest pieces.
In other news, Iran repatriates 13 Tons of gold. Barberous relic, trade it for FRN's ASAP.
Where did you read that Iran did this, Lehmen?
I deliver. http://freebeacon.com/national-security/iran-repatriates-13-tons-of-gold...
The gold was being held by South Africa? WTF?
Thank you!
Iran Repatriates 13 Tons of Gold Under Sanctions Relief!
http://freebeacon.com/national-security/iran-repatriates-13-tons-of-gold...
Key word $11.9 billion in cash assets.
Gold is money....
I guess now we know what the current negotations were for. With all that wealth Iran is sure to be able to move much closer to wiping Isreal off the map.
I guess now we know what the current negotations were for. With all that wealth Iran is sure to be able to move much closer to wiping Isreal off the map.
Excuse me, sir, you have obviously mistaken me for someone who gives a fuck.
No, just sayin'...
When did the regime in Jerusalem become Israel ?
It's quite the conundrum, Mr. C. I keep charging down rabbit holes only to pop up in another place that's just as fucked up as the one I left. I tell myself that I'm learning as I go- but am I?
Didya happen to check the bio of the author, Kredo (funny that) at the end of the article?
I'm not saying every Jew is bent on controlling the goy, far from it- but a Jew steeped in Israeli media is probably not my friend.
Democracy died in the land of the free died on November 22, 1963 when Kenendy's brains were blown into a thousand pieces after he had promised to shatter the CIA into a thousand pieces and scatter it to the winds.
The stunning implication of this passage is that NSA spying targets not only ordinary American citizens, but also Supreme Court justices, members of Congress and the White House itself. One could hardly ask for a more naked exposure of a police state.
http://www.wsws.org/en/articles/2013/09/13/surv-s13.html
I would have put the date closer to the inception of the Federal Reserve system, when they had that illegal congressional vote on it on a congressional holiday. Freedom to claim a banking law that was not actually enacted?!
Yes, Woodrow Wilson and the "progressives" did more to kill the constitutional republic more than anyone. Federal Reserve Act, the 17th Amendment. Probably some more stuff I forgot.
and I thought L H Oswald did it!
Why is a debt default not a debt default triggering CDSs and a global meltdown? The psychopathic liars just change the wording so that Greece is in "arrears".
http://www.bullionbullscanada.com/index.php/bulletin-boards/17-talk-econ...
"So all the IMF needs to do is fork over another 200 plus billion and the Banks will reopen!"
Hate banksters as much as the next ZH'er, and these cartoons explain a lot, but where are the cartoons explaining how in Greece avoiding taxes is like a national sport, on par with receiving government handouts? Sucks for those trying to live honestly, but for those that won't, you can't have it both ways. The world is full of evil men & women who want nothing more than a chance to lend your country a hamburger today, so they can collateralize the debt next Tuesday. Rinse, repeat. Who doesn't love a good hamburger?
You talk like your own country would not be on the breadline without using its cash printing machines.
Goldman Sachs played its dirty role in fabricating the numbers to get Greece into the Euro to set the stage for expecting to rape and plunder Greece. The Western elites will burn Greece to the ground if that is what it takes to make a profit. Greece was growing and prosperous until it entered the Euro, from then all down hill. Those that blame the Greeks are exercising their 'indispensable and exceptional' lunatic attitudes.
Posperous?
Greece has been BK 4-5 times before joining the EU.
http://www.vice.com/read/the-history-of-greek-debt-and-bankruptcy-8876
But Greece could devalue back then.
"Once you enter the Euro zone you can't do that anymore."
Ironically this is all happening as the euro devalues....not a good sign indeed.
Says to me folks investing in anything denominated in euro's are playing a VERY dangerous game.
Devaluation doesn't magically create prosperity. That's a Keynesian/mercantilist myth.
Oh sure but when you can devalue you borrow more by printing so you can keep paying the interest on the debt and investing in more productive things so you can pay the interest the new debt too.
Ha!
It's Goldman's fault that Greece is a bankrupt welfare state, sure. No way this woul've happened without Goldman, says the Statist bootlicker.
Greece never triggered a cds default to the IMF because no such thing is allowed and the Greeks are ' in arrears '. Looks like Greece #winning.
Doesnt look that way to me.
"Next time keep the Stock Exchange open...
Bonz you have competition!
;)
They should draw a cartoon of the rest of the world swallowing Greek bull shit.
Greece, the lamprey eel of the EU.
Then let the Greeks fix Greece and fuck off.
Somewhat similar to commenters who say 'Those lazy Greek bums don't want to work and they deserve what's happening to them, etc.' A comment like that just shows they are ignorant.
The irony of the first cartoon is that both parties (the ECB hand and the Greek) think that those paper promises have real value when in fact they don't.
Can't Greece just do what Iceland did and arrest the bankers?
That would mean the prosecution of fellow Greeks, something that just isn't done.
Never wonder why Greece is in the fix it is in.
Just gamble then at this point. Devalue and convert to current pensions to the Bitcoin. Cut a side deal with Russia & China to fund it for ports & pleasantries. Parallel launch silver & copper Drachmas. Close banks use pawn shops instead. Confiscate all wealth from Banksters and Devolve the financial system. Invite Iceland in as consultants. Try something besides touching the IMF / Euro fire because you know all it does is burn. Just back the Bitcoin with the lead standard like America does. Every time someone from the IMF says it is not a currency shoot'em. Call it a Fiscal Jihad and tell CNN it is our religion and please don't judge us by a few bad apples. We say it is a good currency because we've got lead for anyone who says it isn't. You want fiscal responsibility. I would trust the Silver, Copper, Pawn Shops and the Bitcoin algorithm before I would any politician ever.
Just gamble then at this point. Devalue and convert to current pensions to the Bitcoin. Cut a side deal with Russia & China to fund it for ports & pleasantries. Parallel launch silver & copper Drachmas. Close banks use pawn shops instead. Confiscate all wealth from Banksters and Devolve the financial system. Invite Iceland in as consultants. Try something besides touching the IMF / Euro fire because you know all it does is burn. Just back the Bitcoin with the lead standard like America does. Every time someone from the IMF says it is not a currency shoot'em. Call it a Fiscal Jihad and tell CNN it is our religion and please don't judge us by a few bad apples. We say it is a good currency because we've got lead for anyone who says it isn't. You want fiscal responsibility. I would trust the Silver, Copper, Pawn Shops and the Bitcoin algorithm before I would any politician ever.
Just gamble then at this point. Devalue and convert to current pensions to the Bitcoin. Cut a side deal with Russia & China to fund it for ports & pleasantries. Parallel launch silver & copper Drachmas. Close banks use pawn shops instead. Confiscate all wealth from Banksters and Devolve the financial system. Invite Iceland in as consultants. Try something besides touching the IMF / Euro fire because you know all it does is burn. Just back the Bitcoin with the lead standard like America does. Every time someone from the IMF says it is not a currency shoot'em. Call it a Fiscal Jihad and tell CNN it is our religion and please don't judge us by a few bad apples. We say it is a good currency because we've got lead for anyone who says it isn't. You want fiscal responsibility. I would trust the Silver, Copper, Pawn Shops and the Bitcoin algorithm before I would any politician ever.
Why is the smurfette wearing an Alcoholics Anonymous symbol on her hat?
Good news - I don't recognize the symbol
Bad news - you do. Quitter
My liver made me do it.
According to Mefobils (N), she is half Jewish.
Left out the cartoon of the Greek hairdresser retired at 50 with full State benefits and pension, then begging for the money, electing a bunch of assclowns pandering to the welfare state, then you can kinda bridge to these cartoons.
No-one is forcing greeks anything.
It is they who asks for help from others. And those are ready to help have their conditions.
You dont take a loan and only after it make referendum about question should you pay back money you took.
You are looking at things bass ackward. The greeks don't need help, the banks that loaned greece money need help, as they are the ones that now hold potentially worthless paper. Greece should tell the banksters to get lost, and declare all debts null and void. Then they can start from scratch as a debt free country. Just watch the foreign investment flow in when the Greek tax base reflects it's debt free status. A few years and Greece is the pearl of the mediterainian.
You dont take a loan and only after it make referendum about question should you pay back money you took.
Actually, that's pretty standard fare from those that fancy themsellves to be sovereigns...
OBTW: The Greeks don't call them bankers, they call them bwankers!!!
;-D
When Greek government joined the Eurozone, it lied about its debt figures. In 2010, 2011 it became apparent that Greece couldn’t pay its debts. At this time, Lucas Papademos, head of the central bank worked a scheme with Goldman Sachs. The scheme was to obscure and obfuscate with complex derivatives to hide the debt problem.
In 2010 the PASOK party (Panhellenic Social Movement) came into power, and they let the cat out of the bag. They revealed that the debt figures had been fudged and falsified when Greece joined the EU.
The IMF European staff did calculations, and unanimously reported Greece cannot pay, and the debts are fraudulent. Even more so, the debts are way beyond Greece’s capability to pay. The debts need to be written down (haircut)…that is erased by law. This sort of law is longstanding, and is the main reason the private credit system is able to function without permanently imploding. IMF’s board of directors agreed with the haircut.
Many of the Greek debt holders are French Banks. Euros in the euro-zone are sourced as private credit emitted from commercial banks. Since banks create credit, then they become holders of new debt instruments at the moment of hypothecation.
Dominique Strauss-Kahn (J) who was head of IMF wanted to run for the French Presidency. Sarkozy (J) and Kahn worked out a deal to keep the French banks from going under. German banks would be second to go under if Greece didn’t pay.
In 2011 at G8 meeting, Tim Geithner and Obama protected their patrons - the big wall street banks. Said wall- street banks had derivative bets that Greece would pay. The ECB then told the IMF to play along, and loan Greece money, so that Bond Holders in France and Germany will get paid, and also Wall Street derivatives won’t have to be invoked. The derivative bets, if forced to pay, would bankrupt exposed Wall Street Banks.
When forming Greece’s new IMF loan, new Euro credit will flow through Greece and then immediately back out, to then pay French and German creditors (banks). New Euro credits pass through Greece money supply with zero velocity and do no economic transactions. The new debt hook is then hooked onto the face of the greek population. The Greek people are now on the hook to pay Euro’s not in their possession.
Fast forward to the future, and the debt hook is demanding exponentials to get paid, but Euro’s never were delivered to Greece’s money supply, and hence are not available. Magick swapping is then demanded; this is banker harvest phase; give us your islands and your ancestral patrimony. Give up being a sovereign country, as your prime resources will be traded to forgive debts. Go into austerity so as to drive prices low, so we can buy out your country cheap.
These new debts housed at the IMF and ECB are accounting entries, created from nothing. If they are erased, it is a book loss. Accounting entries verses real assets and the loss of sovereignty. This financial action can take over a country the same as war, only the real resources remain intact. What a deal if you are a member of the Oligarchy!
Austerity smash and grab plan is to privatize former public lands and resources by swapping or buying at fire sale prices. These formerly low cost already paid-for national resources then become privatized to become permanent rent extractions for finance Oligarchy.
MEFO - Well presented. Bad actors all around, enabled by a complicit Federal Reserve and Goldman (but I repeat myself). The Kahn, Sarkozy, Goldman circle is a vicious and historic one throughout history. The Greek politician(s) are putty in their shirt fingered hands.
Similar to TARP and subsequent QE money prints, the USD goes directly to the Banks bottom line / cash flow. Of course it would be a very interesting exercise to see what prices the Fed paid the Banks for their MBS in particular. A lot of those securities had to be close to zero in value.