RANsquawk Week Ahead - 13th July 2015: Greece agree preliminary deal with creditors, however there still remains hurdles

Comments

[ZippyBananaPants]

Giving it a little thought, maybe the EU is running the market up and down on their contrived news stories, and making a little pocket change along the way.

just saying

[gmrpeabody]

"preliminary deal"

What...? But..., I thought....

[sudzee]

I'd keep an eye on euro withdrawals this month as everyone realizes their so-called deposits are at the whim of the banking system. A concerted effort will be made this week to demonize gold and silver. 

And OT:

VTB Russia 2nd largest bank now has access to the Chineese banking system. Things movin along quite nicely for Putin.

[coast]

yeah gmr....after viewing the video clip, it seems to me nothing has really happened...here we go again!  I use to like roller coasters when I was little, but this is getting downright ridiculous.  The parliament still has to vote, countries still have to vote...Has anything really changed since last week?

[Cold-Pragmatism]

You call these hurdles!

Let me copy what I wrote in another posting:

Of course this is assuming (like they have been assuming of the last 7 years), that there will be economic growth, and that these "assets" will retain the value.

Of course this is assuming that these assets will evaluated fairly; after all, we all know how honest the Greeks are in their bookkeeping and how modest they are in the value of their possessions.

Of course this is assuming that during the next years that Italy, France and Spain do not collapse like Greece has.

Of course this is assuming that there will not be another 2008 financial crisis that nobody anywhere is expecting anytime soon.

Of course this is assuming that Draghi is going to do a good job of pumping and priming all the stock markets so that they will increase the value of those assets that need to be sold. Boy oh boy, the ECB is going to really open the printing presses now, all those countries need to make sure that Greek assets are going to have nice values when they come onto the market.

Of course this is assuming that Greece doesn't lie, cheat, hide, swindel, betray on this deal! Wow, that will be a first in 200 years. Hey Paddy's can you offer a book on that? I'd put some serious cash on it.

And you're worried about a few lousy parliamentary votes?

Is anybody underwriting this asset fund? I bet you it is uninsurable! Can you imagine the derivative swap activity on this <strike>fund</strike>(strikethrough doesn't work ZH) financial pig?

With the world economy on the edge of financial oblivion, the ECB about to print cosmological amounts of euros, and Spain, France and Italy waiting in the wings to do their very best Black Swan acts, does anybody really think that this Greek deal is going to work? Paddy's you should open books on this.

THIS IS A FINANCIAL MEGA DISASTER WAITING TO HAPPEN!

And who do you think the governments are going to after for cash when this happens? You think your 100,000 guarantees of your savings in banks are really safe? You saw how during this crisis, the talk among the Greek politicians was to lower that guarantee to 8,000 euros! Just like that. Laws are meaningless when governments are ready to steal.

This Financial Armagedon is coming.

God have mercy on us who see it and are trying to prevent it...as for the rest of you...suffer in financial hell, you earned it.