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Bank Of Russia Says Greece Has A Plan For Parallel Currency

Tyler Durden's picture




 

Someone apparerntly did not tell Russia to keep its mouth shut... That or, the sleeping bear is starting to awake and cause chaos and mischief:

  • GREECE HAS PLAN FOR PARALLEL CURRENCY, SHVETSOV SAYS
  • RUSSIA'S SHVETSOV SAYS `NECESSITY' FOR GREECE TO LEAVE EURO
  • SHVETSOV SAYS GREEK EXIT WOULD BE GOOD EXAMPLE FOR OTHERS
  • BANK OF RUSSIA’S SERGEY SHVETSOV SPEAKS IN INTERVIEW IN MILAN

Kak skazat Oops po Russki? Cue Greek denials they have any plans about anything. Ever.

 

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Thu, 05/24/2012 - 09:42 | 2458546 falak pema
falak pema's picture

long live the geuro! Russian Oligarchy has big stakes in Cyprus. And also in nearby Syria. Its a small world now.

Thu, 05/24/2012 - 09:47 | 2458579 SilverTree
SilverTree's picture

Can someone please define "PARALLEL CURRENCY" in this context?

Thu, 05/24/2012 - 09:48 | 2458582 HD
HD's picture

Euros with a "G" stamped on them most likely...

Thu, 05/24/2012 - 09:54 | 2458605 Badabing
Badabing's picture

"GREECE HAS PLAN FOR PARALLEL CURRENCY"

Coming to a parallel universe near you.

Thu, 05/24/2012 - 09:57 | 2458619 tonyw
tonyw's picture

De La Rue - some might say that but I couldn't possibly comment.

 

Thu, 05/24/2012 - 10:00 | 2458633 markmotive
markmotive's picture

Divide and conquer?

Thu, 05/24/2012 - 10:01 | 2458634 tocointhephrase
tocointhephrase's picture

'or, the sleeping bear is starting to awake and cause chaos and mischief:'

 

RT News, Max Keiser, need I say more?

Thu, 05/24/2012 - 10:07 | 2458664 The trend is yo...
The trend is your friend's picture

Russia wants its land and respect back.  The way to get it would be massive chaos in eurpoe

Thu, 05/24/2012 - 10:28 | 2458744 Jethro
Jethro's picture

Perhaps. The first thing I thought of when I read the title of the article was "KGB agitprop".

Thu, 05/24/2012 - 10:09 | 2458674 bigdumbnugly
bigdumbnugly's picture

parallel currency?

buffet gets his inspirations in the bathtub.

apparently these guys get it on the crapper wiping their ass.

Thu, 05/24/2012 - 10:22 | 2458663 Ahmeexnal
Ahmeexnal's picture

The euro is like a commatose patient, who suffers major heart disease, MS, all types of known and yet to be discovered cancer, has had all four limbs amputated and is blind as a result of diabetes, has a raging case of neurosiphillis....and has just been diagnosed with full blown AIDS....and health insurance just ran out.
Rossiya, in an act of compassion, is about to shoot the poor bastard in the head to put it out of its misery.
EUROTHANASIA.
Set the eurosheeple free!!!!

Thu, 05/24/2012 - 09:51 | 2458583 falak pema
falak pema's picture

It means that Greece as access to both Euro and Geuro but that its pegged one to the other under ECB control for FIRST but not the second. 

The economic team behind Merkel is now running the shooting match in Eurozone. The blond lady from the Bundes economic team (I don't know her name) is really hot and intelligent!

Thu, 05/24/2012 - 09:55 | 2458611 Badabing
Badabing's picture

Geuro Grexit?

Thu, 05/24/2012 - 11:25 | 2458965 Shibumi2
Shibumi2's picture

How about calling the new currency the GYRO...half greek, half EURO

 

And no one will ever say..."yeah but you can't eat GYROS"

Thu, 05/24/2012 - 11:16 | 2458923 Sancho Ponzi
Sancho Ponzi's picture

The former Yugoslavia had parallel currencies in the late 90's, but their Dinar was allowed to freely float with the Deutsche Mark.

Thu, 05/24/2012 - 13:32 | 2459406 Nussi34
Nussi34's picture

Some countries in the Balkan still use parallel currencies. I think it is Albania. Looks like the Greeks finally copied something from the developed world.

Thu, 05/24/2012 - 09:53 | 2458598 Whoa Dammit
Whoa Dammit's picture

That's easy. The bankers/elite will get one currency that is debt free and retains its value. The people will get another currency that is stuck with all of the debt and inflates. They will both initially have the same face value so as to make the swindle easier to palm off. 

Thu, 05/24/2012 - 10:41 | 2458784 jez
jez's picture

Maybe it means a New Drachma with an exchange rate of 1:1 with the euro.

Although I imagine that the parallel-ness would last no more than about three nanoseconds on the first trading day thereafter.

Thu, 05/24/2012 - 11:36 | 2459007 Marco
Marco's picture

A couple of types of contracts need to be moved to Drachme :
Dividends
Employment contracts
Internal trade

A couple of types of contracts need to stay in Euros :
Loans
Bank deposits

(Of course with a depreciating Drachme this means lots of people will start defaulting on their loans, but that's what needs to happen any way.)

Thu, 05/24/2012 - 11:57 | 2459095 rotagen
rotagen's picture

Greece will do whatever it's masters tell it to do.  End of speculation...save some ink.

Thu, 05/24/2012 - 09:41 | 2458547 achmachat
achmachat's picture

...and cause chaos and mischief.

 

Loki?

Thu, 05/24/2012 - 09:50 | 2458585 HoofHearted
HoofHearted's picture

No no no...cause the ramp up in markets. Remember the template. ZH gave it away...for free...yesterday!

Thu, 05/24/2012 - 10:30 | 2458752 Nobody For President
Nobody For President's picture

Chaos and Mischief = A psued for the taking for a ZHer to be...

Thu, 05/24/2012 - 11:34 | 2458997 Day_Of_The_Tentacle
Day_Of_The_Tentacle's picture

HA! Spot on. And we already know who Thor is right? He left his buggy 'n goats to throw lightning at Athens from Mount Olympus. So now the interesting question is, who is Odin.......or should we rather say Ochin?

Thu, 05/24/2012 - 09:41 | 2458548 pods
pods's picture

If I have a plan for one, the Greeks damn well better!

pods

Thu, 05/24/2012 - 09:41 | 2458550 Enceladus
Enceladus's picture

Balkan bulwark

Thu, 05/24/2012 - 09:42 | 2458554 Stoploss
Stoploss's picture

That's how you Shvet on the party!

Thu, 05/24/2012 - 09:42 | 2458553 kito
kito's picture

i vill break you..................

Thu, 05/24/2012 - 09:42 | 2458555 orangegeek
orangegeek's picture

great idea.  they should call it the drakma.

Thu, 05/24/2012 - 10:34 | 2458763 Bunga Bunga
Bunga Bunga's picture

Why not Drama?

Thu, 05/24/2012 - 09:42 | 2458557 HedgeCock
HedgeCock's picture

Oh come on, Russians don't even have Paypal...

Thu, 05/24/2012 - 09:50 | 2458588 Sudden Debt
Sudden Debt's picture

why would they?

If somebody over there asks you to pay... you'd better pay...

 

Thu, 05/24/2012 - 09:59 | 2458629 HedgeCock
HedgeCock's picture

Oddy, this didn't work for Paypal.

Thu, 05/24/2012 - 10:35 | 2458764 Bunga Bunga
Bunga Bunga's picture

Because they have gold.

Thu, 05/24/2012 - 09:43 | 2458558 midgetrannyporn
midgetrannyporn's picture

FREE SERGEY!

Thu, 05/24/2012 - 10:06 | 2458662 tocointhephrase
tocointhephrase's picture

CHEAP CAR INSURANCE

Thu, 05/24/2012 - 09:43 | 2458560 Cognitive Dissonance
Cognitive Dissonance's picture

"Bank Of Russia Says Greece Has A Plan For Parallel Currency Universe."

Makes more sense now.

Thu, 05/24/2012 - 09:43 | 2458562 mrkolice
mrkolice's picture
shit, this is going fast.

merkel to greece: come to mama

putin to greece: come to daddy

Thu, 05/24/2012 - 09:50 | 2458589 THX 1178
THX 1178's picture

http://www.youtube.com/watch?v=5Az_7U0-cK0

 

Does that white moster guy represent central banking!?!?

Thu, 05/24/2012 - 10:32 | 2458758 Nobody For President
Nobody For President's picture

Greece to mama and daddy: Fuck you, I'm leaving for a man in the motor trades.

Thu, 05/24/2012 - 09:44 | 2458564 SheepDog-One
SheepDog-One's picture

DARN! And just when everyone had lungs full of fresh free money Hopium and all that.

Thu, 05/24/2012 - 09:45 | 2458567 azzhatter
azzhatter's picture

Is it Ruble?

Thu, 05/24/2012 - 09:46 | 2458571 HedgeCock
HedgeCock's picture

Rubble.

Thu, 05/24/2012 - 09:57 | 2458618 midgetrannyporn
midgetrannyporn's picture

Rube-UL

Thu, 05/24/2012 - 12:11 | 2459135 THX 1178
THX 1178's picture

Rue-Bull(shit)

Thu, 05/24/2012 - 10:10 | 2458678 junkyardjack
junkyardjack's picture

Its rumored to be called Deez Nutz and will be issued to all creditors...

Thu, 05/24/2012 - 09:47 | 2458569 ChickenTikka
ChickenTikka's picture

Blin!

A parallel currency?  The orthdox rouble.  Greece, Russia, and Serbia can all get on one common currency and then take back constantinople.

Thu, 05/24/2012 - 09:46 | 2458573 john_connor
john_connor's picture

Prelude to WW III.  Russia, CHina, and defecting Euro states vs. TBTF banks, err I meant US, UK, Germany, & France.  Throw in the Middle East and the mix is exponentially more volatile.

Thu, 05/24/2012 - 09:48 | 2458574 LawsofPhysics
LawsofPhysics's picture

Explains Euro rising, dollar dying.  The BRICs are going to support the non-Euro worthy nations and a two-tier system to rip europe apart - not the dollar.  DUH.  How long until WWIII?

Thu, 05/24/2012 - 10:03 | 2458631 tim73
tim73's picture

So Americans...with their 25 wars since WWII - history, are still thinking it will be the "
"bloody, barbaric Europeans" who will start the WWIII?! That is some serious mental disorder right there!

It is like a drunk, wife-beating neighbour saying, watch out that 70 year old Miss Marple, she is one mean SOB!

Thu, 05/24/2012 - 10:08 | 2458668 brooklynlou
brooklynlou's picture

Europe ALWAYS starts the big ones ...

Thu, 05/24/2012 - 10:53 | 2458831 tim73
tim73's picture

Statistically speaking, 2 world wars is nothing, could be totally random fluke. We need at least 10 world wars to determine a trend. After 50 it could be CANADA is the murdering, world war starting bastard nation!

Thu, 05/24/2012 - 10:21 | 2458719 LawsofPhysics
LawsofPhysics's picture

LMFAO!!  Those who forget history are doomed to repeat it.  Thanks for playing.

Thu, 05/24/2012 - 10:47 | 2458807 SheepDog-One
SheepDog-One's picture

TIMMAAAYYY!!

Thu, 05/24/2012 - 10:59 | 2458851 Central Bankster
Central Bankster's picture

Heh i've seen enough of tim's posts to know.... If europe had a cock, you would find his lips firmly wrapped around it. The poor guy probably walks around naked, only wrapped in an EU flag.

Thu, 05/24/2012 - 11:01 | 2458852 Central Bankster
Central Bankster's picture

...

Thu, 05/24/2012 - 09:47 | 2458575 Village Smithy
Village Smithy's picture

Where there's smoke there's fire.

Thu, 05/24/2012 - 09:47 | 2458577 elagano
elagano's picture

"Kak skazat Oops po Russki?" : Oj

Thu, 05/24/2012 - 09:51 | 2458595 DeadFred
DeadFred's picture

'Oops' will also also be understood, ne?

Thu, 05/24/2012 - 09:54 | 2458607 ChickenTikka
ChickenTikka's picture

da

Thu, 05/24/2012 - 10:26 | 2458741 Poetic injustice
Poetic injustice's picture

If it is bad Oops. common poeople will say     Blja

Thu, 05/24/2012 - 09:48 | 2458578 The Big Ching-aso
The Big Ching-aso's picture

 

 

The Grusky.  Denominations of 1,000,000 to 100,000,000,000,000,000,000,000,000.  In red ink of course.

Thu, 05/24/2012 - 09:48 | 2458581 docj
docj's picture

Russian version of Project Mayhem.

Popcorn at the ready.

Thu, 05/24/2012 - 10:04 | 2458654 Uchtdorf
Uchtdorf's picture

There are no coincidences in politics.

Thu, 05/24/2012 - 09:49 | 2458584 Monedas
Monedas's picture

Russia has been trying to create a parallel reality for centuries....they should know !       Monedas   1929     Comedy Jihad Permanent Troll Country

Thu, 05/24/2012 - 09:50 | 2458586 BeetleBailey
BeetleBailey's picture

The Putma

Thu, 05/24/2012 - 09:50 | 2458587 toady
toady's picture

Russia is a major player in in this ongoing disaster simply because of its petro reserves. I can see it gaining influence throughout the North where they need heat in the winter.

In fact, they have Germany over a barrel on that front....

Thu, 05/24/2012 - 09:50 | 2458590 hugovanderbubble
hugovanderbubble's picture

Russia IS BACK US-Tremble¡

Thu, 05/24/2012 - 09:51 | 2458592 Sudden Debt
Sudden Debt's picture

this rumor started at RT. I guess I don't need to say much more.

 

Thu, 05/24/2012 - 10:04 | 2458651 LULZBank
LULZBank's picture

While you were watching RT, you missed some other rumours truth on CNBC.

Thu, 05/24/2012 - 09:51 | 2458593 RunningMan
RunningMan's picture

They should call it the "Gaucho" to replace the Euro. When that fails, they can then issue the "Harpo".

Thu, 05/24/2012 - 10:03 | 2458646 HoofHearted
HoofHearted's picture

...and eventually we get to the Karl.

Thu, 05/24/2012 - 22:39 | 2461129 HedgeCock
HedgeCock's picture

Groucho

Thu, 05/24/2012 - 09:52 | 2458597 youngman
youngman's picture

Hmmmm..Russia is laying the ground work for a new reserve currency.......letting it be known there are other options out there...hint hint

Thu, 05/24/2012 - 09:53 | 2458600 Scalaris
Scalaris's picture

Druble or Ruchma?

Thu, 05/24/2012 - 13:57 | 2459520 Strider52
Strider52's picture

Why bother with a useless currency? They should use those little airplane-size bottles of ouzo. A currency backed by alcohol. The Ouzo.

Thu, 05/24/2012 - 09:54 | 2458606 edmondantes
edmondantes's picture

Like the fin rand and the commercial rand in the 80s? Involves capital controls ... Q is why on earth there are still any deposits left in Greek banks?

Thu, 05/24/2012 - 09:54 | 2458608 junkyardjack
junkyardjack's picture

This will be bullish when Greece has to come out and deny this rumor...

Thu, 05/24/2012 - 09:56 | 2458609 Floodmaster
Floodmaster's picture

 

 

Thu, 05/24/2012 - 09:56 | 2458614 the 300000000th...
the 300000000th percent's picture

Take that missile defense shield!

Thu, 05/24/2012 - 09:57 | 2458617 tim73
tim73's picture

Greece was kicked out from Latin Monetary Union in 1908 too (France, Switzerland, Italy, Greece), due outright faking new silver coins with less silver content...and then accepted back in 1910. Something similar will happen again...purgatory limbo for Greece for now.

Thu, 05/24/2012 - 09:58 | 2458621 sudzee
sudzee's picture

Russia looking for a central spot for their new missles, so they can target both the EU and Isreal. Financing Greece would be cheap. New currency called the BRICsdollar.

Thu, 05/24/2012 - 09:58 | 2458622 Monedas
Monedas's picture

Russia, in the after glow of their Syrian successes, shares it's wisdom with the needy Socialists of southern eurospot !     Monedas  1929     Comedy Fatwa Gorby & Carter Comic Duo

Thu, 05/24/2012 - 10:02 | 2458624 Zero Debt
Zero Debt's picture

Here is one question for debate.. What will be backing the drachma?

Greece had 160 billion euros of bank deposits on March 30, 2012 = 201 bn USD.

Greek gold reserves 1/1/2010 = 3,607,313.77 oz = 112.20 tonnes

Greek gold reserve value in USD @ 1,570 USD/oz = 5,663,482,618.0 USD = 5,57 bn USD.

Gold backing of bank reserves = 5.57 / 160 = 3.48% => a leverage ratio of 28.7 times!

Add to this that Greece’s lenders has the right to seize the gold reserves in the Bank of Greece and it becomes obvious that the gold may not only be levered 28 times, but is also encumbered. And the fact that there are other parts of the greek monetary base than demand deposits.

 

Thu, 05/24/2012 - 09:58 | 2458625 Byte Me
Byte Me's picture

Draghi to Shvetsov:

"Fuck offski?"

Thu, 05/24/2012 - 09:59 | 2458628 No Hedge
No Hedge's picture

EURGRD ...place your bets

Thu, 05/24/2012 - 10:00 | 2458630 LULZBank
LULZBank's picture
  • GREECE HAS PLAN FOR PARALLEL CURRENCY, SHVETSOV SAYS
  • One to pay for debts and the other to pay for fuel.

    Thu, 05/24/2012 - 10:02 | 2458638 crghill
    crghill's picture

    In Russia currency spends you!

    Thu, 05/24/2012 - 10:04 | 2458656 PaperBear
    PaperBear's picture

    Isn't there a town in Greece that has already started up a barter currency exchanged localy.

    Thu, 05/24/2012 - 10:10 | 2458680 Byte Me
    Byte Me's picture

    What would we do for entertainment without jilted Russian klepto-Federation?

    Maybe we can sell Greece to RF (they lookin' for warm water mil base and all), they buy groovy load of shitty debt, and run franchise Siberian holiday camp for the banksters/pols who create this dreck..

    NASDAQ IPO laterz?

    Thu, 05/24/2012 - 10:11 | 2458683 PaperBear
    PaperBear's picture

    When are our governments going to return to protecting the privacy of the people and have the operations of government more transparent ?

    Oops, wrong thread.

    Thu, 05/24/2012 - 10:11 | 2458687 I am a Man I am...
    I am a Man I am Forty's picture

    that would be sweet if there was a parallel currency backed by gold

    Thu, 05/24/2012 - 10:22 | 2458714 drB
    drB's picture

    oops in Russian = blja!!! :)

     

    P.S. Can not get cyrillic text here!!!

    Thu, 05/24/2012 - 10:28 | 2458736 Non Passaran
    Non Passaran's picture

    In Soviet Russia SHVETSOV parallelizes you!

    Thu, 05/24/2012 - 10:28 | 2458743 theTribster
    theTribster's picture

    Russia maybe making a play for Greece to leave Euro and play with the BRICS and their planned new currency - Fuck the west and the Dollar says Putin! This is obviously a stretch, especially given that the Gremans and French already took all of Greece's gold after the first bail out agreement was signed.

    The BRICS will come out with an alternative currency and at the same announce they will no longer use the dollar to execute trades, Fuck the Dollar says the BRICS.

    The US is fucking everyone in the world with our currency manipulations, no doubt that Russia and the other BRICS are developing or have developed a plan to free them of this bullshit. Since they are departing the Dollar why not convince others to follow? Let's face it, in the end the currency they come up with will be backed by Gold and will be the ONLY method of executing trades with them. You want to buy Chinese goods? Sure, just deposit the Gold and we'll give you BRICS currency you can use. You want Russian oil? You want lumber from Brazil?

    What is hard to believe is how fucking retarded the boys in Washington are, do they think they can just fuck everybody in the world with no blow-back? Obviously, Blow-Back is a concept Washington doesn't quite understand so they merily set the USA up for a massive failure, this failure will hurt everybody in the world and in the end it was only to make a few people richer!

    Let's hope Greece leaves the Euro, if they don't they'll be debt slaves forever and Greece will be no more. Over the next couple of years Germany will increasingly fall away from the Euro and its policies, ultimately it may be Germany that steps away from the Euro. The political will is strong though, even Greece may not be able to find its way out of the straight-jacket called the Euro.

    If there really is a NWO and an intention to consolidate the world under a single gubmint, single military, single everything than Greece will, in the end, not be allowed to leave the Euro. It looks like they don't really want to, they have been sold on the idea that size matters. Given the Greeks propensity for penis extensions apparently "size matters" in more than one area.The voting sent a message but the trending looks like the old parties (Pro Euro) are picking up steam, the message coming from the Eurozone (we don't care if Greece leaves really) is apparently having the designed impact on the population - they are afraid to leave the Euro. Question is, are they afraid enough to continue with the austerity programs? I think its possible actually, just a little movement form the Euro will probably tame the Greeks and allow things to stabilize for a few more months.

    The Russians are so pissed at the US and Obama they are likely to escalate their anti-dollar activities although this particular set of statements may be for other reasons, since Russia has a financial interest in Cyprus. The Russians stopped buying US debt a few years ago (timing?) and have sold most/all of what they did have. They've also been accumulating Gold covertly in addition to their public purchases as has all of the BRIC nations.

    It won't be long before the BRICS make their move, now is a perfect time since fiat currencies are completely destabilized because of the debt situation around the world, it will get worse so they may be waiting for the meltdown before they move, I guess we'll see.

    Regardless, hope the Russians are correct and the Greeks are printing Drachma's in preparation for the inevitable departure from the euro straight-jacket...

    Thu, 05/24/2012 - 11:42 | 2459031 Almost Solvent
    Almost Solvent's picture

    You forgot the part where WW3 breaks out. You think BRICS (or anyone) is going to drop the $ and nothing happens from the biggest swinging military dick the world has ever known? No way. No how.

     

    What the outcome of WW3 may be is up for debate, but the use of $ as reserve currency is not, lest BRICS misremember the Hacker Hellstorm aka USofA.

    Thu, 05/24/2012 - 10:33 | 2458759 KandiRaverHipster
    KandiRaverHipster's picture

    did anyone ever read that book Red Storm rising by Tom Clancy?

    Thu, 05/24/2012 - 10:40 | 2458781 samsara
    samsara's picture

    Would it be something like 'RED' dollars here?  For internal use only?

    (Google Red Dollar currency)

    Thu, 05/24/2012 - 10:57 | 2458843 crawldaddy
    crawldaddy's picture

    you know what is sad, that the US has more per household income inquality now than Russia. Shows you how far we have fallen.

    Thu, 05/24/2012 - 13:02 | 2459291 Raymond Reason
    Raymond Reason's picture

    The "haves" in Russia will continue for the most part to be "haves".  But most of the US haves will join ranks with the havenots.  The question is how well New Yorkers will be able to assimilate with serfs. 

    Thu, 05/24/2012 - 11:10 | 2458901 Wolferl
    Wolferl's picture

    They are Greeks. They never have a plan.

    Thu, 05/24/2012 - 11:54 | 2459080 Poetic injustice
    Poetic injustice's picture

    Not exactly. They always have a plan to swindle you.

    Thu, 05/24/2012 - 12:11 | 2459142 Wolferl
    Wolferl's picture

    True, but that´s not a plan, it´s the Greek attitude in general.

    Thu, 05/24/2012 - 11:40 | 2459025 sudzee
    sudzee's picture

    EU now begging Greece not to exit:

    http://www.cnbc.com/id/47551939

     

    Of course this was reported 10 min before Europe makets closed.

    Thu, 05/24/2012 - 12:52 | 2459265 Raymond Reason
    Raymond Reason's picture

    Get used to learning Russian vocabulary. 

    Thu, 05/24/2012 - 14:15 | 2459603 Debugas
    Debugas's picture

    it could actually work well - euro for savings and drachma for wages

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