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David Einhorn Says Varoufakis "Must Not Be Familiar With The Tyler Durden School Of Negotiation"
Today everyone has chimed in to opine on what was, without doubt, the most historic weekend in European history: one in which we saw the Eurozone's true face when, despite not have a legal right to do so, Germany almost unilaterally expelled "temporarily" one of its core members. Now, it's David Einhorn's turn.
* * *
Last year, it appeared that Greece had finally turned the corner after years of suffering through imposed austerity and the resultant 25% collapse in GDP. Much like the Seahawks’ ill-fated decision to pass the ball at the end of Superbowl XLIX, instead of giving it to monster running back Marshawn Lynch, Greece snatched defeat from the jaws of victory by electing the populist anti-austerity, pro-debt-writedown, Syriza coalition.
Puerto Rico’s governor recently said of its own debt, “This is not about politics; it’s about math.” The math for Greece is easy: austerity hasn’t improved the economy and its debts are unsustainable. Knowing this, Syriza no longer wanted to play the “extend and pretend” game. Further, Greece’s recently resigned finance minister Yanis Varoufakis believed they wouldn’t have to. Mr. Varoufakis, who kept reminding everyone that he is a professor of game theory, believed that the European leaders would prefer to make concessions now rather than manage the disruption of a Greek default. He must not be familiar with the Tyler Durden school of negotiation: the first rule of using game theory is you do not talk about using game theory. What’s more obvious is that Syriza didn’t understand what the game is.
This is not about math; it’s about politics. Consider that the main difference between Greece and France is that France is a big fan of extend and pretend. And as long as France says it will pay, its bonds might yield just a bit more than Germany’s. Though Greece has a superficially unmanageable ratio of debt to GDP, the debt had been restructured so that there is little debt service burden for the next several years. Politically, European leaders prefer to leave the future problems in the future. Syriza’s refusal to play along is a problem not just for bondholders but also for those holding seats of power. The European leaders fear that if Syriza can claim even a moral victory, it will inspire other European countries to oust their current leaders in favor of populist governments who campaign on the promise of debt repudiation.
Though Mario Draghi promised he would do whatever it takes to save the euro, that doesn’t include lifting a finger to assist Greece financially or in any way signal that the ECB has Greece’s back. Just days prior to the January elections, Mr. Draghi announced that the ECB would exclude Greece from quantitative easing for at least six months. Doing whatever it takes is proving to be a conditional promise, as denying Greece access to the capital markets is a key tenet of the European strategy to pressure Syriza.
For anyone still missing the joke, Bank of Japan Governor Haruhiko Kuroda summarized the view of the global central planners when he said, " trust that many of you are familiar with the story of Peter Pan, in which it says, ‘the moment you doubt whether you can fly, you cease forever to be able to do it.’ Yes, what we need is a positive attitude and conviction.” Perception supplants reality. The moment leaders (or markets) start making it about the math, gravity comes into play.
The result is that Europe is unwilling to allow Syriza a face-saving compromise, even if that means Greece collapses and the rest of Europe suffers. At this writing, Syriza has capitulated by proposing a deal which leaves Greece with even more austerity than when negotiations began and no actual debt forgiveness. This might not be enough, as the grand goal of the European negotiators appears to be to discourage other countries from electing populists.
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Cui bono?
"what was, without doubt, the most historic weekend in European history"
Piss off.
Varoufakis was given a choice...resign or be suicided.
He can hand the script to the next guy as well (or have it carved into his tombstone).
And here I thought he was going to talk about the scene where Tyler spit blood all over Lou and got him to provide all sorts of things for Fight Club.
Greatly abbreviated in the movie: https://www.youtube.com/watch?v=0YBJPCwGwAc Sorry for the German. Youtube USA is fucked.
"Extend and pretend" is not gonna work if you enjoy an unanimous SD rating, practice capital control, your 10-year bond yield is between 15 and 20%, and have a long history of manipulating statistical data.
My idea of a successful negotiation.. the Greeks should try it :
https://www.youtube.com/watch?v=3oKwg6W05MU
Math makes my head hurt.
So does politics.
Gun-point theory beats the crap out of game theory :)
Actually this is what really happened. Certainly they were threatened with execution in case of the need to resort to a military coup d'etat like in Persia 1953 - almost identical context.
"Rumbles of military coup as Greek workers demand end to EU austerity":
https://www.wsws.org/en/articles/2015/07/04/pers-j04.html
"CIA admits role in 1953 Iranian coup":
http://www.theguardian.com/world/2013/aug/19/cia-admits-role-1953-irania...
Certainly Varoufakis preferred to take care of family business then having his family to pick-up his corpse after hanging on a public square after a masquerade of a process ...
He may have left to protect his family. The threat of others suffering for your actions is much harder than taking the hit yourself.
most likely
Nah man, he left the country on a vacation.
Since when are people stealing my avatar??
Because you don't deserve it?
(Reminder: fight club)
Game Theory is bullshit. It assumes that everyone makes purely rational and self-interested choices (i.e. nobody is courageous or honorable). This is obviously not true. Game Theory is for the birds.
Gun Theory usually gets results.
Gun theory will be used by the PTB if needed.
This article misses the point. The game theory was not aimed at the EU/bankers it was aimed at the greek people.
The game started before he was ever appointed into his position.
enter LOVE theory:
https://www.youtube.com/watch?v=mnM66YKHYec
some kinda druid dude/
liftin the veil/
...some call it majik/
the search for the grail,
janus
The Feral Reserve knows about TD......The first rule of the feral reserve is that you talk about price stability and preserving the value of the dollar when in fact you do the opposite....
Hmmmm....wonder if the feral reserve knows Gun Theory ????????
... don't forget "job creation" is what The Bernank used to say was one of his jobs.
Gafaw...gafaw...gafaw.....
Anyone who believes anything these Big Time Bankers says deserves what he/she gets.
Most of the gains in the political spectrum are from the sub-category of Nailgun Theory.
Bullshit or not, it most certainly does not work when you want to lose and the opposition knows it. Syriza are liberals and didn't want to leave the Eurozone or the EU. Therefore they were bluffing in their "game" and everybody knew it. The whole "negotiating" process was a surreal joke.
Game Theory is bullshit. It assumes that everyone makes purely rational and self-interested choices (i.e. nobody is courageous or honorable).
This is nonsense. If courage and honor result in a maximization of self interest, then game theory says they will be adopted. In short, all it means is that at some point of a relationship, someone will attempt to screw over someone else... this is why cartels do not last forever.
Agreed. Courage and honor arent the problem with game theory. people are stupid angry irrational beasts who do whatever they want regardless of logic behind their decisions.
A guy in a cartel does not screw his boss because of honor, he does it because he believes he has something to gain from it.
Well said, Game Theory is a bunch of crap.
I love the explanation of the prisoners dilemma, they never include the people outside the jail! that will kill your entire family if you rat.
On the contrary. Game Theory is a wonderful framing device. If you do not follow the rules of Game Theory, then you aren't serious, aren't rational, and we can ignore/kill you and feel good about ourselves for doing it.
Game theory is for ivory tower douche bags who can't understand how the world functions so they try to understand it by making a theory.
Which oviously fails because it is assumes the adults in the room "play" within a "box".
It assumes rational players (for the most part).
How quaint... It appears Varoufakis got an eye opening experience when entering a real world negotiation.
It is doublful he has gotten the taste of cock out of his mouth yet... Keep brushing my friend.
Game theory is viable. It can be applied very successfully. You just have to know if it fits each human component or not. One theory or another applies to everyone most of the time.
I didn't say it would be easy.
Either that, or people he cares about are under the gun. Tsiprias as well. Were I an evil overlord, I would involve anybody they care about in very painful and wrong ways to help them come around to my way of thinking.
"what was, without doubt, the most historic weekend in European history"
He means in the (short) EU history. In Europe, i.e, the millenia-old continent, we've had much, much worse. And quite a lot better too.
Even going from the very very recent Lisbon Treaty (2009) that still doesn't cut it.
Italian Premier Silvio Berlusconi being forced out of office by Merkel and replaced with an EU Technocrat was a far FAR bigger deal than anything that has happened in Greece this weekend.
Schauble making threats about Grexit is just talk. Talk is cheap.
May I remind you that the EU actually deposed a democratically elected Prime Minister of a G7 country and replaced him with an unelected technocrat in order to ram though EU reforms. Remember? That is WAAAAY beyond anything that happened this week. In fact NOTHING happened this weekend, just more hot air.
This ain't over. Wait for it.
"I told you something happened 12/21/2012 but no... you didn't listen. Something happened. Just because we aren't aware of it doesn't mean it didn't happen. So now look at things...." ~ me
I bet during the ERA of the Black Plague..there were some pretty shitty weekends.....jus sayin
as a scare tactic it is an utter failure since unfortunately those in charge in a given piss poor beggar nation don't get to choose the electorate and the electorate will always vote for someone else to pay the bill. The politicians created a Frankenstein electorate now they have to deal with them.
so they ask the people what they want done, and then do the opposite.... what could possibly go wrong?
Good thing Greece doesn't have a bunch of idle youth that could cause problems.
What are they gonna do? Post some you tube videos of a barking dog......again.
Bad things happen when you come between a man and his money.
True. But, we were talking about the Greek youth.
Don't underestimate, the youth showed up en masse to support the referendum. Even if they don't have much money in banks to be hurt by haircuts they probably have family who do.
Old men make the rules up until the time they are dragged into the street.
Well, enjoy your Golden Dawn, as that's what you're gonna get for their efforts. Activation energy can be quite a bitch at times.
Honestly, you are either a nationalist or complicit in the looting of your nation to fund Elysiums you will never be admitted into. This applies to all people of the world now.
Sounds like Golden Dawn is the next step. Obviously cracking heads is in order at this point.
Holding my breath. Call 911.
That explains it, lack of oxygen to the brain is affecting your imagination.
I was not around in the 60s but I heard that is when the youth starting giving it to the man. The man has done OK, no? I would suspect the youth of today are bigger pussies than their ancestors. So, in reality I am not overly optimistic about a bunch of 20 something icrap toting rebels putting an end to this mess.
They won't put an end to this mess but they could get the ball rolling. American youths are too ignorant to know their enemy but the Greeks are not. A possible haircut and the existence of Golden Dawn guarantees that there will be protests and some violence. If things got bad enough that the UN/NATO sent in "peacekeeping" forces to keep their puppets safe the Greek military might not like them overstepping their bounds and take matters into their own hands.
I'm not saying that a revolution will happen but I can see how it could. Guns always make the rules.
Ever heard of the IRA or Sinn Fein? Look over there...why it is me home country sucking on Euro titty! My Irish side of me is none to proud of that development. Alas, I must remain a realist.
Irish Catholic guilt allowed them swallow austerity like a good altar boy but I think Greeks have had enough. This situation will happen in all the PIIGS, Greece is just first.
I am tomorrow, or some future day, what I establish today. I am today what I established yesterday or some previous day.
James Joyce"One of the penalties for refusing to participate in politics is that you end up being governed by your inferiors."
Plato
I think the missing element in your analysis is that the motivated youth left the building long ago. They might be waiters in Sweden or janitors in Germany, or they may have shipped out on a tanker, but they're not sitting in their mother's house waiting to see if Greece can get its act together.
One UN police state, coming right up!
Not yet
Upvoted but...
apparently their youth are idle but not capable or so inclined to cause problem.
They could but they don't.
Sounds exactly like the Republican Party in the US...
Hey! Bizarro World worked for George in Seinfeld, did it not?
The moment leaders (or markets) start making it about the math, gravity comes into play.
Which is exactly why they need to be forced to make it about math, if we had any sort of independent media that is.
Brian Williams was told there would be no math, nor history, nor geography.
Hair and make-up? Yes.
The people don't want to be confused with facts.
Banksters never want to be confronted with facts. The only "fact" they want to recognize is that the loans they make are fully recoverable and held to maturity.
The current bidding on one FDR silver dime starts at two U.S. dollars and fifty cents MINIMUM.
"Heads to fifty bucks from there."
So "bail out your buddies bit to hell with Tennesee!"???
Good luck with that.
I say QE4 in a matter of days.
"They'll print their way out" as they always do.
I think the Fed has too much hubris to propose QE4 this year. They'll go through with raising the Fed Funds rate in Sept and the markets will be in full disarray before they bring out the "white knight" sometime during the first half of 2016.
Shut the fuck UP!
Didn't you hear: the Troika has just invented ANTI-GRAVITY.
This changes EVERYTHING.
https://www.youtube.com/watch?v=tTq6Tofmo7E
LOL!
Brbrbrbrbrbrbrbrbrbrbrbrbrbrbrbrbrbrb!
Too bad that doesn't help us Earthlings.
"We have too much gravity" sad to say.
We do have cars that can go in excess of 200 mph "comfortably" though apparently...
I'm sure all the people at NASA, civil engineers, architects, programmers, mechanics, machinists, carpenters all agree...fuck math.
Hmmm, I wonder why there aren't many of these sorts in political positions.
It's not about math, it's about leverage, and since syriza was not prepared for, nor had the inclination to grexit, they had none.
Tsipras challenged the structure of the EU, wanting to reform it in such a way so they'd fit.
Schauble needed to change the structure of the EU, wanting to reform it in such a way they could never achieve at the ballot box (fiscal union).
So, two sides both needed to change the structure of the EU. The strong side played along while giving the weak just enough room to create the activation energy to create the mandate for change, destroying the weak in the process, as they've served their purpose.
Varoufakis might understand game theory, what he didn't understand was the game itself.
There is a sating in engineering. "Book smart, field dumb". Most professors are idiots in the field.
There is a sating in engineering. "Book smart, field dumb". Most professors are idiots in the field.
Varoufakis underestimated the opposition. But he had the balls for the fight.I think Stalin referred to his kind as "Useful Idiots."
I think Varoufakis overestimated his "ally" Tsipras and Syriza.
Even Leonidas needed the 300.
I tend to think he applied game theory to another field altogether. By playing crazy and pissing about he brought the situation to a total stalemate, thereby pushing the EU to send a contemptible ultimatum to Greece. This has thoroughly exposed the EU and the Eurozone for the debt Gulag and kleptocracy they are. It doesn't matter what happens to Greece from now on. The true nature of the EU has been laid bare for everyone to see and people don't like the grotesque bankster vampire they see. The defeat is total. The Eurocrats and the Euro are finished no matter how far they try to kick the can and pretend they are solvent. The politics and the impressions created are too totalitarian and horrific for people to handle.
i wish i was (math) smart, then i would not have become a trader
As a rule of thumb, only invest in things that you understand very well.
Mr. Varoufakis, who kept reminding everyone that he is a professor of game theory, believed that the European leaders would prefer to make concessions now rather than manage the disruption of a Greek default. He must not be familiar with the Tyler Durden school of negotiation: the first rule of using game theory is you do not talk about using game theory. What’s more obvious is that Syriza didn’t understand what the game is.
Put that in your pipe and smoke it Y-Anus lovers.
Hey junckers. Truth hurts, eh? Wait a month or so and France will reveal some populist windbag that you can hang your hopes upon.
...well, not as much as jumping on a bicycle with the seat missing, but, sure - it hurts just the same.
Oh, it's all right. I'm sure that we can handle this situation maturely, just like the responsible adults that we are. Isn't that right, Mr... Poopy Pants?
+1 for the Naked Gun reference
"Bank of Japan Governor Haruhiko Kuroda summarized the view of the global central planners when he said, " trust that many of you are familiar with the story of Peter Pan, in which it says, ‘the moment you doubt whether you can fly, you cease forever to be able to do it.’ Yes, what we need is a positive attitude and conviction.”
comedy gold. from a Nip.
WE CAN FLY!
Go ahead: jump you fuckers!
He flew too close to the sun, melted his wings, fell into the sea and then was nail-gunned by TPTB...
I had wondered if talking about game theory was part of the game.
The other bit here is that the game could still be in play. What we have here is a static snapshot. This ain't how it is.
I believe he thought it was. And it might have worked to his benefit, if he'd only understood that the game was about the EU, not Greece.
Yet another well engineered Maginot Line, if you ask me.
What if you talking about them talking about game theory is part of the game? Oh shit, now I'm in on it too!
Game theory goes out the door when your opponent can print as many chips as they want.
Fat Tony and his two-headed coin agree!
Some asshole may have overlooked that fact.
it is Dictator Game - https://en.wikipedia.org/wiki/Dictator_game
In the dictator game, the first player, "the dictator", determines how to split an endowment (such as a cash prize) between himself and the second player. The second player, "the recipient", simply receives the remainder of the endowment left by the dictator. The recipient's role is entirely passive and has no input into the outcome of the game. As a result, the dictator game is not formally a proper game (as the term is used in game theory). To be a proper game, every player's outcome must depend on the actions of at least one other's. Since the dictator's outcome depends only on his own actions, this situation is one of decision theory. Despite this formal point, the dictator game is used in the game theory literature as a degenerate game. This game has been used to test the homo economicus model of individual behavior: if individuals were only concerned with their own economic well being, dictators would allocate the entire good to themselves and give nothing to the recipient.
Lives were threatened.
Best way to negotiate.
If you're going to stoop to that level in negotiating, you need to offer a package deal: Keep the big, fat bribe and your life, or take a dirtnap. You can't let them do your bidding and not take the bribe. That way, if you get called out on trying to make somebody do something, as soon as that person starts squealing that they were threatened, you get to point out that they were, in fact, bribed. It really muddies the waters. If you are ever on the receiving end of such a negotiation tactic, you cannot spend a single penny of the bribe if you want to have an out, otherwise, you become the other person's creature.
There is an old expression in Mexico: "plomo o plata" (lead or silver).
Vatican bank account has been setup for the fag hairdresser with bad teeth.
Obozo got his account, and a nice mansion in Hawaii.
Vatican bank more corrupt than BIS.
A great cover for scumbags.
"If you're going to stoop to that level in negotiating, you need to offer a package deal: Keep the big, fat bribe and your life, or take a dirtnap. "
Exactly.
The target must be compromised.
True story:
Girl is invited to a big party at a secluded house by the guy that owns the place.
She gets picked up by him and taken over there.
Girl is raped by the guy late after the party has wound down and other people are blitzed or busy hooking up or pased out..
Deed done the girl of course wants to gtf outta there.
Guy says 'I'm too drunk to drive but I'll call ya a cab and pay for it.'
The guy that did the deed calls a taxi to take the drunk, raped girl away.
Taxi comes and the girl runs to go get in.
Guy comes out and leans into taxi -and gives the girl a twenty dollar bill.
Girl goes to the police station in the taxi and files charges.
Taxi driver is hauled into the case and brought to testify as to the time/place/etc.
First question the defence asks is if the taxi driver saw the woman take any money from the man accused of raping her.
He of course answers 'yes.'
Defendant claims girl is a whore and that he paid her for sex.
Girl admits to taking money after sex.
COMPROMISED.
Defendent NOT GUILTY.
I was only a child at the time.
I saw every goddamned thing.
A COMPROMISED Witness cannot properly defend themselves.
Presumption of innocence blah fucking blah shred of doubt blah fucking blah blah blah...
German math: Fuck You, pay me.
Greek math: Fuck me, pay me.
Personally, in negotiations I prefer to tell people exactly what I am going to do and why and then do it. Those schooled by Machiavelli seem to believe that I must be lying for a purpose, act accordingly and tend to be thrown off a bit when I do what I said.
The issue is that you must actually be willing to pull the trigger... and must have the power to do so. Yani did not have the power ... bummer for the world.
(so much for my monthly ego blast ... lol)
I agree.
It's not just in negotiations. In my experience a huge majority of people just assume everyone is a liar. That is why so many on ZH probably feel like outcasts and can't figure out why. They don't understand they are not only surrounded by liars but entire countries of people expecting to be lied to. Don't question if something is wrong with yourself for refusing to be lied to.
I think he was negotiating for a guy (Tsipras) who wouldn't back him up
Yanis and Tsiripas really know shit about fuck...
or how to sit down and shut the fuck up...
or...
I don't know.
I'll call my GoldmanSachs advisor.
Germany is less bankrupt so they hold all the cards? How cute.
Yup. And Greece got bitched slapped (pimp handed).
When you hold the cards and you keep hitting blackjack it is amazing people still come to the table. Some folks are just not that bright.
Europe isn't stupid. we prefer war above giving up sovereignity and social rights.
What a holy piece of collectivist shit.
Europe does not even exist as a conscious entity with the ability to have any preference about nothing.
Ask Yanis for a lesson. He's a public employee, so it's free.
My ass.
Umm... I think that perhaps there was a bit of sarcasm in that statement?
But I'm very happy to see someone else pointing out the absurdity of collectives "thinking/acting/speaking/believing/[insert human trait here]."
You see, jarana, there's a whole world between social behaviour and printing money. To be discovered soon.
#thisisacoup
Who thinks this gets through the Greek government?
_____
Ot - if you need a laugh:
http://www.debka.com/article/24722/Israel-merges-IDF-elite-units-to-form...
Has anyone in ISIS even utterred the word "Israel" to date?
probably.
like 'hey fellas, popping over to israel to get some cash, sat phones and bullets, brb"
that sort of thing.
Game theory- Jewish dilemna= free ham
The collective progs are attempting to canoe themselves against a raging white water river basen.
Using windmills and solar power has turned the canoe backwards towards deadly rocks. The alternative energy canoe cannot avoid the impending waterfall drop.
Moral of Story: Some salmon never make it upstream during the final race of their lives.
I think that Varoufakis just overestimated the support of his own party and Tsipras.
Yep, I think Yanis was willing to go all the way. Tsipras and the rest were not. Have fun in serfdom
Why do they have to flood their peices with nonsense pop culture like Peter Pan?
Its all about the math..and that is what is so scary...these politicians know it too...but they can just play the part...as long as they keep getting their spoils from the printed fiat..they will keep smiling and telling lies....its the next persons problem...just kick the fookin can baby
The real reason behind Varoufakis´ failure as a negotiator is... His Ego!
http://www.atlanticperspective.com/off-the-radar/varoufakis-game-theory-mistake-and-why-he-was-wrong
The Greek Einstein got ahead of himself...
I bet he sees the world as a much bigger, very different place than he did before. He went from trying to solve a seemingly tiny problem to getting beat-down by the whole of TPTB.
Question is, just what did he take away from all of this? (especially given the family he married into)
The game is different if you are a Zionist bankster stooge like V.
That game is plunder and enslavement.
Liberty is a demand. Tyranny is submission..
Another bunch of politicians promising shit, gets themselves elected, has the people behind them.......and turns around and does the opposite!
Wow, really surprising....SCUM, the whole lot of them.
World War 1? Nope, that's not the most historic. The most historic weekend is about which faces will be printed on tiny pieces of paper and what the name of that paper will be.
I would agree, except that there will be no paper involved.
i imagine Dunkirk was a shiity weekend
varuFAKEis
https://www.youtube.com/watch?v=JmcA9LIIXWw
What actually happened on the ground in Greece today? I presume nothing got passed? Even though the Hedge here has been wrong on every single turn of the story, they should stick with it till its passed and over. No other news outlet will give any coverage to it...
It is The Plan B, Tyer Durden. And, now you are responsible... It is not about the issues anymore to you ... zh, you just want to win and want one of your favorite doom and gloom scenario play out. you are not alone... somehow everyone is fighting a battle, seemingly different ones. Big people and anonymous alike will keep talking ... and all your equity goes up this moring ... read it as -> you liked the events over the weekend and are enjoying the wealth that accrues from such events.
http://just-a-thought-from-thinair.blogspot.com/
Syriza thinks the game is "free stuff & services" , the banks think the game is "bondage" and a guaranteed revenue stream with growth, the game is over.
The "tell" that Tsipras was bluffing was when he kicked Varoufakis out because the Eurogroup didn't like him.
He underestimated the lengths psychopathic banksters will go to in order to steal money from the people
I think David Einhorn does not understand the role of Varoufakis.
Yanis was not PLAYING TO WIN. He was playing to EXPOSE the SCAM.
And he did... he got them SO INCENSED they BLEW THEIR TOPS and NOW the world can see who Schauble and Diesel-Bloom REALLY ARE. HE TAUNTED THEM TO THEIR FACES : YOU ARE A LOSING BUNCH OF SCAMMERS!
He died politically but he made the world see what the EZ game of this oligarchy of technocratic aristocrats was.
By being totally honest he showed his hand and said to them : I defy you to show yours' and they DID; they hung themselves to their OWN chord.
Now thaT is not TYLER's game of "there are no rules" fight club. Tyler is a predator and anarchist. That's fight club culture.
Yanis is an ethical romantic. Magnificent loser.
TO each his role.
Einhorn of course is an arrogant, predatory, oligarchical conquistador of Pax Americana culture.
Good luck to him.
Yanis was not PLAYING TO WIN. He was playing to EXPOSE the SCAM.
Really? The scam has already been exposed by countless people. Was this his I got the evidence that there was an inside job on 9/11 moment? Nope. So, if he was not playing to win...why the fuck was he playing? He goes to the poker table with 20 bucks and can't afford to raise and has to fold. That is the game he was playing.
Are you being serious?
What has just happened has shaken the EU construct to its very foundations, and all you can say is: the scam has already been exposed...
I think you have not understood what a quantum jump psychologically, morally and politically (in that now democracy is burning in first world not in Iraq or Nam) that rings a bell in the minds of 3 billion first world citizens of Europe, USA and Japan all those other nations etc.
This is now out in the open that Greece like any other european country can become another Third world nation.
That is now not theory it is fact in Greece. Greece is not Zimbabwe or some country in a forgotten contineNt.
In Europe the penny is beginning to drop fast.
Not so fast. Markets have to be calm for the Creditors/Banksters always. That's the mandates for their agents (Troika, Drahi, etc).
Where and when you have unorganized preys, the predators do not even bother with traps. Brute forces that smash ideals of democracy, etc will do. Much aided of course by mainstream media with a New Normal Journalism that push their Agendas.
Going forward, it does not matter whether Greece is a wasteland. Mission accomplished as markets will dance to a new narrative.
Einhorn understands markets and who are pulling the puppet strings. Preys in pains should not entertain delusions of a coming soon collapse. They are easy meals. It takes much more to skewer Predators.
Game Theory has been around a lot longer than the Tyler Durden School of Negotiation. Moreover, this is about math, and not politics. Mathematics rules the zero sum game that is being played, politically, and economically. Varoufakis played his cards as well as anyone would have IMO.
He could have been more politically savvy...
If there is not a warehouse full of Drachma's sitting around somewhere, then he did a piss poor job of playing the game.
It aint over till the fat lady sings
http://img01.lachschon.de/images/154620_WahlkampfShirtsbei3Dsupply_1.jpg
https://www.youtube.com/watch?v=VEntZUx24s8
Now we learn why Diebold ( other, turn them machines back on ) allowed the NO VOTE. We were delighted at the result which was what Merkel & Swastica Planned.
Varoufakis game theory: "OK, he has a full boat and I know it. Yeah! I just drew to an inside straight and missed it. Watch me bluff him - - I am so excited!!
"The problem with educating stupid people was that they didn't know they were stupid. The same went for curing crazy people."
- Chuck Palahniuk*, "Phoenix"
*author of "Fight Club" if'n ye nae ken
Like I always say; "Reason is no match for stupid"
well, discourage other countries electing populists they did. (*winks @Spain).After seeing such a dreadful defeat of the Greek PM and an uncoditional surrender at the hands of our EU "partners", it has only two ways to go from here.
Either disgust and reenforcing parties/movements and people against that kind of treatment all across South Europe, or fearing for everything seeing the beaten scarecrow that Greece was&will be made and heading for the "right" options.
Both of these ways will backfire to Germany, but I dont think neither Merkel or Schoible will have any regrets. They live in their happy little planet and it's all good there, as long as you feed the Morlocks once awhile.
Extend and pretend? what about the debt kiting scheme called US Treasury bonds bought with made up dollars by the Federal Reserve?
Today we hear from David Einhorn and Timmy Geithner??
Great gaming strategist? You are kidding me.
Yea it was setup Syriza electoral win was a Setup.
First you set up your negotiating positions . invite and arrest troika book and release, nationalize banks, pass all the laws in your manifesto.
Trigger their implementation every two weeks. Get MOA for loans from China and Russia for navy bases, sign gas/silk road deal, reconcile with Turkey about Cyprus, cut military spending to 1% from 2.4% and police spending, trigger their implementation every two weeks.
Arrest bankers oligarchs, introduce capital control.., dual currency with drachma peg for 5 years to euro so you do not have to change accounting.
Start clock on Euro exit, declare default on all debts.
Invite separate EU countries for negotiations to Athens separately.
That what I call gaming. With all this and EU markets in turmoil because of it you would have gotten what you wanted. Mr. Varoufakis.
but all of it was just a charade for Greek peasants As I repeated numerous times.
PODEMOS if you are not fake as Syriza hear me out.
The almost walkout at 6am is easy on the yes.... but I wonder what sort of threat they put to Grease to swallow this shit sandwich? Grease is going to be mulch to European Banks.
It is not even a bad deal. it is an in-your-face fuck you throat stomp.