This page has been archived and commenting is disabled.
Obama Calls Merkel, Reinforces IMF Case Of Debt Haircut
Just a few short hours after Tsipras called Obama, the US president in turn called the German chancellor and told Merkel to get a "durable" deal done asap (or else the stock market "wealth effect" for the 1% may promptly evaporate). More importantly was Obama's insistence to support the IMF sticking point, namely to "achieve debt sustainability", which of course is ludicrous, but it means that both Lagarde and Obama are now pressuring Germany to haircut Greek debt.
From the White House:
Readout of the President's Call with Chancellor Angela Merkel of Germany
The President and German Chancellor Angela Merkel spoke by phone this morning about Greece. The leaders agreed it is in everyone's interest to reach a durable agreement that will allow Greece to resume reforms, return to growth, and achieve debt sustainability within the Eurozone. The leaders noted that their economic teams are monitoring the situation in Greece and remain in close contact.
And moments ago the White House also reported that Obama told Tsipras that a deal is in "everyone's interest" by which he, of course, means everything should be done to avoid a market collapse.
So will Obama save the day? Or, like the case of IMF, will the mere specter of a forced debt haircut spook the Eurogroup (i.e., Merkel) who know that if Greece gets a concession then all the other PIIGS will promptly line up?
Tune in tomorrow to find out if today's session of late day hopium fizzles or actually transforms into an actual deal.
»
- 24644 reads
- Printer-friendly version
- Send to friend
- advertisements -
President Zippy will save us.......
If there is a god, then Hopey McChange, Merkel and company will one day be destitute and sucking off hobos for pocket change.
As if Barry understands a word of this.
10am this morning and we get our first news the US might be getting involved (Tsipras calling Obama). Flash forward to 3:30pm (just in time for the ramp) and the US is in deep discussions about bailing out Greece. By Friday it'll be most of southern Europe. By end of July we'll be helicopter-dropping money on every western country in the world to keep the debt ponzi going.
Now you understand why I got so irate in the first story this morning? Here it comes, American taxpayer. Bend the fuck over (again). This time we're not just going to shove Wall St up your ass, we're gonna stuff the whole western hemisphere up there. By the end of the decade you better make room for the whole world.
VIX from 19 to 16 in a few hours supports your claim
Sheessh... why so gloomy, guys? The U.S. taxpayers can just borrow the cash from Germany at super-low interest rates. It's like free money.
Oh, I can see how this call went...
Obama: Hi PM Merkel, its POTUS, can you fill me in on what is happening with Greece? We sure would like to see this probelm resolved for the benetit of ALL concerned.
Merkel: Who the fuck are you? You have spied on me and all your other allies so you already know what we're thinking...and your spokeperson Victoria Nuland expressed your feelings regarding the EU very clearly when she said 'Fuck the EU'. What stake do you ave in this game? Why have you not been engaged prior to the critical time of Greece's default? Do you think that just becasue you are POTUS and make a last minute call to help out your banker buddies that I give a shit? Go fuck yourself...better yet, go fuck Victoria Nuland...when we need a bailout we'll let you know.
That's cute. He's gonna lecture someone about debt sustainability. Just who is gonna bail the US out I wonder?
Oh, right, our grandchildren I suppose.
Dear NoDebt, how helicopter money is connected to the American taxpayer ?
... "Obama Calls Merkel"
... and this is why ... >>> "Russia’s Deputy Finance Minister says Greece can easily receive financing from BRICS" ... "It will be enough for Greece to buy a couple of shares of the bank to be eligible for funding,Sergey Storchak said, adding that this would require a political decision" >>> http://tass.ru/en/world/806684
What is the inflation rate in the US? No, not that one, the real one. That's where it ends up AFTER they're done squeezing the last drop out of real taxpayers. You get the tax hit and you get less purchasing power for your buck with what little is left.
Don't let the marginal federal tax rates staying constant for a decade now fool you. Taxes have gone up in HUGE clumps and bunches in the real world. State and local, new "fees" for things that used to be free, licensing requirements for everything under the sun. It never ends. I'm fairly certainly if you add it all up my marginal tax rate is about 112%.
Barry would suck them hobos for free, he just likes jizz
Obama - who is this? Obama - is a President of Europe? Or Obama is president of all the world?
What does it matter for Obama, problems in the Greece, which is not part of the United States?
Merkel can live in Chicago when she retires. She can even give the Mayor a ramjob, I mean rimjob...
In other words kick the can till we're both out of office and then let the shit fall where it may.
Maybe PIIGS will fly?
These two brain trusts should agree to kick in their own personal savings in the deal then we'll see how eager they are to make an agreement.
ha. thats funny. thats what the sheeple....i mean taxpayer is for. afterall, any and all greek debt that gets wiped out will be the debt issued by the IMF and EU...ie, the US and Germany.
OPM Holdings, LLC
Why is the US involved?
Are American taxpayers going to be on the hook for this?
Or is wall street shaking in it's boots?
"The US government will pay the salaries to the staff of Georgia's former President Mikhail Saakashvili, who is now serving as a new governor of Odessa Region, Ukraine, Saakashvili said, adding that California police will also train Odessa’s officers. “Within the framework of Odessa’s anti-corruption pressure, the US government agreed to provide funds for the salaries of the new team of [Mikhail] Saakashvili,” Saakashvili wrote on his Facebook page after the meeting with Geoffrey Pyatt, the US Ambassador to Ukraine.
He added that American police officers from California “will train new Odessa police.”
http://rt.com/news/271912-ukraine-us-saakashvili-wages/
theres ur answer......
Yes! eventually Obama will offer to help bail them all out. He just doesn't know that the US is broke. Obama majored in Community organization not Financial management.
Better yet, who is this cocks$%ker to give anyone economic counsel? Ruining USA wasn't enuf for him?
All knowing dickhead making the call from the back nine.........great!
All knowing motherfucker getting Reggies nine from the backside.........fixed myself
obama willing to forgive all the money the US has given to the IMF for Greece, as long as jamie dimon's JPM stock doesnt drop more than $1.
the Krauts r even worse bitches than the Japs...
just sayin....
And the "market" goes ever higher on yet another round of potentially kicking the debt filled, bad news can down the road and, once again, providing another excuse for infinite ZIRP.
now ur learining....
Despite the pressure on the Greek Prime Minister the answer remained : OXI without debt "restructuring"
Obama haircut? Yes, please take twelve inches off the top.
http://steelturman.typepad.com/thesteeldeal/2010/04/zippy-the-pinhead-ba...
WTF? Obama's spending has put the US in the same boat as Greece. $18 Trillion debt and climbing. Obama has the nerve to tell Merkel how to run a budget. By the time Obama leave office, US debt will be $20 Trillion. Only difference between US and Greece is the US has printing machines running 24 hours a day.
Remember Madame president that all of Germany's debt was forgiven, and I'd like to end my term with the "markets" at all time highs so I can secure my place on a few bank boards and capitalize on the speaking fees. Please don't forget that fact, and just in case you do, we still have 37 military bases in your country to help jog your memory.
"Turn over all your gold to the IMF PERMANENTLY and we will open dollar swap lines to you."
That's my view of what the "offer" should be.
So many "phone calls to Germany" with this Administration though...so who knows. "Just give them the money for absolutely nothing in return" might be on the table.
Oh my gosh...the foxes are guarding the chicken coop...
This fucking jizzbag Obama couldn't balance a checkbook
Barry just likes sticking his nose where it doesn't belong.If Merkel is smart, she will tell Barry to go fuck himself.
Yeah, just like she told him to go fuck himself over the NSA bullshit...... twice. Ohhhh wait......
"There ain't nuthin uglier than an old white woman." Fred Sanford, Sanford and Son
There's that 1%'r wealth-effect thing, but there is also the geo-strategic issue. And that aspect of the whole shootin' match will simply Not be allowed to proceed into the hands of Putin - even if it means the hausfrau taking the Greek sausage, balls deep.
the nsa has a copy of the conversation [/no bullshit]
Sex toys & all...
Makes you wonder what the Arian Merkel thinks about our African/American Obama?
Oh the things she must say behind closed doors.
... the fudgepacker has about as much in common with American blacks as white people do with polar bears.... it's incorrect to refer to an illegal indonesian kenyan alien muslim as an "African/American" IMHO
Jawboning or supporting the narrative of the IMF to secure super-senior position and take the whip on Greek debt?
Two communists are talking,"How do we screw Germany?"
foxmuldar, the problem is not to do with Obama, but with the neoliberal system. It crashes economies and runs gigantic debts the world over.
Check Wall Street, Goldman Sachs, the Fed, the mega-corporations for the culprits.
There are NO politicians you can blame in the USA. They all are puppets of the insane system that got them elected.
http://cluborlov.blogspot.fr/2015/06/the-care-and-feeding-of-financial-b...
Can't argue with that. And what is at the center of the spider web?
"And what is at the center of the spider web?"
Shareholders.
I have been thinking more about China. Are the western bankers trying to do to China what they did to Japan in 1990? The Nikkei still has not recovered to that level. However since then, the Bank of Japan had been the love puppet of Wall Street, always there to service the western masters at their whim.
Is China Wall Street's, Frankfurt's, Basel's and London's next bitch? Have the Chinese bankers sold out their country for the promise of a prominent place in the western world bank system?
quote from Merkel "we have no idea what the deal will be but it will be done in a few days"
The EU and USA are eating this up.
The desparite begging their slave masters for more paper currency to save them.
Amazing to me how many people have no idea about the U.S.debt. It's actually a lot better than the headline number. The interest bearing debt is only $13.1 trillion, and 2.5 trillion of that is at the Fed. So, it's really $10.6 trillion. That's less than 60% of GDP.
A better comparison is to examine each country’s debt to government tax revenue, since that is the government’s income. This also offers a better comparison because different countries have very different levels of taxation. A country with high taxes can afford more debt than a low tax country. Debt to GDP ignores this difference. Comparing debt to tax revenue reveals a much truer picture of the burden of each country’s debt on its government’s finances.
The U.S. debt as a percentage of tax revenue is about 408 percent.
This does not factor the several trillion dollars owed to Social Security, yet it includes the Social Security taxes collected. If Social Security taxes are not counted, the U.S.’s debt to income ratio rises to 688 percent.
http://www.forbes.com/sites/jeffreydorfman/2014/07/12/forget-debt-as-a-p...
Today’s Federal Debt is about $18,586,025,907,000.
The amount is the gross federal debt issued by the United States Department of the Treasury since 1790. It doesn’t include state and local debt, and it doesn’t include the so-called unfunded liabilities of entitlement programs like Social Security and Medicare.
At the end of FY 2015 the total government debt in the United States, including federal, state, and local, is expected to be $21.694 trillion.
http://www.usgovernmentdebt.us/
See, you screwed up a good point about tax revenue with the same mistake everyone makes. The gross number does include the trust fund. That's why, on the very site you list, the debt held by the public (less the Fed portion) is estimated to be $11 billion by the end if the year.
I'll also take bets that it's less than that.
yep. That part where the government raids the social security trust fund and stuffs it with intergovermental IOUs is just fluff. It's a right wing conspiracy to make the debt seem higher than it is. We're Not even close to Greece.
Obama: "You know Angie, we need to solve this"
Merkel: "But how Barry?!"
Obama: "My firend Lloyd Blankfein suggested you pile all Greeces debt in Deutsche Bank, and then rename it 'BAD BANK' or 'Lehman' or whatever"
Merkel: "Then what?"
Obama: "Shut it down baby, you know, to save the world!"
Deutsche Bank's ass deep in shit as it is but point taken.
Maybe Oliver North's National Endowment for the Preservation of Liberty has some money they can funnel to the Greeks
This stupid looking fucker looked down at his left, then right shoe, and couldnt work owt what one went where, and you think he explained anything at all to the fucking child raping protecting bloke that ruins Germany?
Grow the fuck right up.
This total and utter embarrassment on the face of humanity couldnt read a menu, the fucker probably cant read a prompter neither, he just hears it through the CIA device attached to his fucking drugged owt, bloke fucking, head like the Japanese flag of an arsehole he owns, while married to another badly fitting, and ugly as fuck bloke.
This 'Doobie', knows as much as they tell him, and he gets all that off of CNN. This is either panic mode, or pre panic mode.
Calm down and have a pint. This is funny as fuck, its like watching chickens running around missing their heads.
;-)
..."navy corpse-men"....
...."eboly virus".....
If obama gets involved - the whole thing is going down the shitter....
..whoooooosh !
"...monitoring the situation..."
Yea. NASA was monitoring the situation while Columbia broke up over Texas, too.
Because that'll stop the bank run
Either Print or screw deposit holders. There's nothing else.
"So will Obama save the day?"
Did he ever ?
Yea, when hell freezes over he will.
Double droned....
"And moments ago the White House also reported that Obama told Tsipras that a deal is in "everyone's interest" by which he, of course, means everything should be done to avoid a market collapse."
slight corrections.
And moments ago the White House also reported that Obama told Tsipras that a deal is in "Our interest" by which he, of course, means everything should be droned to avoid a market collapse.
"The leaders noted" What the hell does this mean? What "Leaders"?
Those are the ones taking your money without really doing anything back for it.
Hey Tyler Durden,
You sound more like a match commentator. What has happened to you? Have you forgotten your responsibilities? What are those anyways?
What happened to your fight club? When did you hang up your boots?
One thing: Fight with me because your defeat is near certain.
It appears something has bothered you so much that you have lost your touch. So, fight. and tell me what your responsibilities are?
Meanwhile, can you restore my original username : thinair
http://just-a-thought-from-thinair.blogspot.com/
Mutti say's hello, this phones tapped ,i'll call you back on a secure line.
A BIG FUCK YOU TO THE EUUUUUUUUUUUUUU.
The term "achieve debt sustainability" means keeping the gains flowing to the top.
Angela will take the fall.The NSA has all her little secrets.Bye,bye,Angie,have fun explaining it to German voters that you caved into Greek and now American demands.See what you get?
Just about all world leaders in the West are corrupted and compromised (therefore "owned") The people of Europe need to kick them all out of office and then tell the USA to get fucked. Won't happen though - too many Europeans high on coke and butfucking each other to really know what's going on or even care. Same with Americans though. The elites have us all under control -massive amounts of sex, drugs and rock'N"roll -when the party ends, the sheeple's brains will be so fried that they will willingly go into FEMA camps to be devoured by the wolves. Sad state we are in - In Biblical terms, another chapter in the Bible is due -to complement the Great Flood and the destruction of Sodom and Gomorra.
... but Merkel's carpet had now run out of capacity completely. So then the phone rang, and helpful Prince Barry had called, and he said, "Hey, Schmuckers! You wouldn't believe the amount of crap I can stuff under my carpet! It has no upper limit! Seriously! It's fricken unbelievable! You can sweep any amount of rotten unsightly crap under this thing! So don't you worry mucky, we can take care of this little mountain of dog poop!"
And just like that, they all lived happily ever after.
The End
.....and Merkel replied to Prince Barry saying:
"Listen bathhouse, my name is "Mutti" not "mucky."
Get it black dude?
Historically speaking, Germans have responded very positively to financial burdens placed upon them by world leaders, both German and otherwise...
Historically speaking, Germans have responded very positively to financial burdens placed upon them by world leaders, both German and otherwise...
Assuming a debt haircut; Does anyone really think Greece will make consistent payments in paying off the rest? Its a socialist, welfare society. Its foolish to think they will pay off any substantial amount of debt.
Which Government's OR Private Welfare Organisation is Paying Off Debt? Only the productive pay off debt and sum.
but wont Obama show them how to pay off some debt?
Yes bvut consistent payments or actual debt reduction is not the objective. Kick the can is the objective and have markets stay up. That way , when a REP becomes Pres of US in 2016, and markets crash, Obamacare costs go up 50%, unemployemnt starts to be counted accurately, etc...., sociopaths can just point to stock market and fake unemployemnt numbers and say... "See Obama did a good job".
All the 1 % 'ers and illegal hispanics will be happy. What don't you understand here?
Obama Calls . . . . Merkel a Hippo, Lard Ass and she asks how's Moose. Merkel goes on, if you think i'm sucking young Greek dick . . . Obama licks his lips . . The NSA and German Spooks break while the Puppet Leaders finger-fuck themselves.
Well shizzle!! The Preezy is in the hizzy... Gonna bussa cap!!
Oh, he called? Don't think butch is going to listen to bitch.
The US should purchase the Greek debt and make them the 51st state or a commonwealth territory and dollarize the economy exchanging dollars for Euros. What cheap price (a few keystrokes at the Fed) to hold such a strategic location! Might weaken the dollar relative to the Euro too! Now we control the gas pipeline routes into the EU.
Let's see some real creative thinking that actually gets us something in return for very little.
If all else fails, they can pay half the poor people to kill the other half.
Obama's involved now? I thought I got a whiff of ass crack.
So Tsipras calls Obama "Barry, I need some advice and you're good at spending other people;s money. We're broke, can't pay our debts and are about to get kicked out of the euro, so we have to default and get by with what we have.
But I've got this nice Mr Putin offering to help us out after we default. It seems he and his Chinese friends will help us through our small problem and all they want are a couple of bases in Greece. Between that nasty Mrs Merkel on one side and the nice Mr Putin on the other, what do reckon we should do Barry?
I'm just after your advice Barry, not a handout or anything."
Seems quite clear.
Goldman advised Greece to load up on all the debts.
Which helped US Banks transfer private debts onto Greek Government.
We know, Goldman represents itself and US Banksters.
Goldman controls US Government.
Makes sense for US Government to accidentally release report about Greek disability to pay up the debt.
Makes sense for US Government to seek haircut from Germany.
The end game is quite clear.
All the hard work of Germany and savings need be kissed goodbye.
The alternative is for Germany to repeat world war all over again.
And all the lazy losers of the world will join together to kill Germans.
Again we see Russia try to help Germans.
But, Wow the Germans never learn.
A wannabe Limerick
-----
Greeks Elected a handsome & beautiful young chap
to please the sensibilities of the Angela Merkel, the boss.
But before she could bed him with pleasure,
BarackHomObamma told her to keep off
"he is mine, I will see him closely first
only then you get whatever is left"
------
ALL IS BULL SHIT, IT'S EITHER..... THEY WANT TO FORCE GREECE TO BE LIKE CROATIA TO WAGES €300 MONTH ..ETC OR GREXIT.WASTE OF TIME , BETTER FOR GREECE TO START USE DRACHMAS . FORGET THE WELL DRESSED GANGSTERS OF EUROPE AND THE OTHERS BEHIND THEM....THEY ARE FULL OF SHIT.