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The Banks' Nightmare Is Coming True: Greek Left Calls For Anti-Bailout Coalition

Tyler Durden's picture




 

The only saving grace of the earlier horrendous Greek parliamentary vote was that, based on very preliminary results New Democracy and Pasok would be able to form a coalition government with precisely 151 seats needed in parliament to give them status quo powers. However, according to a more recent re-rack of the votes (New Democracy 18.9%, 108 seats, Pasok 13.4%, 41 seats, Syrizia: 16.6%, 51 seats, and all others), this assumption is now in jeopardy as the two pro-bailout parties will have just 149 seats in the new parliament, or not even a full majority. Why is this problematic? Because virtually every other party in the new parliament, and there may be up to 10 there including the New Dawn, have voiced their opposition to the bailout of Greece, which as everyone knows is merely a bailout of Europe's insolvent banks using Greek taxpayer funds as a conduit. And, adding insult to injury, Reuters now reports that "Greek leftist leader calls for anti-bailout coalition." It appears that finally, after many years of delays, the anti "bailout" genie is finally out of bottle...

From Reuters:

Greece's Left Coalition called on Sunday for an anti-bailout coalition, saying the country's general election showed that austerity policies had been soundly defeated and a peaceful revolution ushered in.

 

The Communist KKE - which believes Greece should abandon the euro - immediately rejected Tsipras's call for a leftist alliance.

 

"Mrs Merkel needs to understand that austerity policies have suffered a huge defeat," said Left Coalition leader Alexis Tsipras, referring to German Chancellor Angela Merkel.

 

"With their vote, Greek people gave a mandate for a new dawn in our country with solidarity and justice instead of barbaric bailout measures."

 

Tsipras' party has emerged as the surprise star of the election and is on track to finish in second place with 16 percent of the vote, according to early results. The success comes at the expense of the big pro-bailout parties, New Democracy and PASOK, who were punished for backing austerity.

 

The KKE are projected to take about 8.5 percent of the vote.

 

"The parties which signed the bailouts without Greek people's consent are now a minority," Tsipras said.

Watch for this Greek development to metastasize to all other PIIGS countries. Europe's bankers better pray that Draghi, with Goldman and the Fed's blessing of course, announces some form of monetary intervention soon or things will get ugly.

 

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Sun, 05/06/2012 - 16:29 | 2401441 prains
prains's picture

Light the wick

Sun, 05/06/2012 - 16:40 | 2401465 slaughterer
slaughterer's picture

What or who is manipulating the EUR/USD spreads right now so that it does not immediately plunge below 1.2949?  BIS?

I am literally watching this under-handed legerdemain happen before my very eyes right now with absolute astonishment.

Am I going to get squeezed again?   Please, say it is not so.  

Sun, 05/06/2012 - 16:53 | 2401529 DosZap
DosZap's picture

Am I going to get squeezed again? Please, say it is not so.

Sorry, 1.30 is the FIX dudeski.And no, not BIS,the Fed.

Sun, 05/06/2012 - 17:49 | 2401661 Xkwisetly Paneful
Xkwisetly Paneful's picture

This is great material!

Their debt is increasing at an eye popping rate which has virtual nil to do with any banker.

get it? The banks are not there dictating they retire at 50yo with 6 pensions and full healthcare.

They are merely enabling and profitting from it. There is no contest who winners happen to be  here, no different than the US RE meltdown, IT IS THE GUY WHO CAME INTO THE GAME WITH NOTHING AND LEFT WITH SOMETHING OR GREECE IN THIS CASE IN SIMPLE ENGLISH.

Otherwise keep up the great work.

Money for nothing and chicks for free.

Sorry nothing is actuallly lint like and still can't stay above water but who cares?

Not like one needs a military, banking system, food and fuel to run a country,

endless social spending, pensions for the dead et al is certainly paramount.

 

anything less than 321,231,239 down arrows will be disappointing.

 

oh and BTW nits, they like much of Europe have decimated their military in favor of social spending and guess what?

They just as broke as the rest. 

Sun, 05/06/2012 - 18:05 | 2401697 LetThemEatRand
LetThemEatRand's picture

Very simple solution whether you want to blame the bankers or the people who believe retirement should be possible for the average Joe.  Banks and bondholders made a bad bet by lending multiples of GDP to Greece to support an obviously broken system.  So far they have made huge profit on this bad bet.  That's why we blame the bankers, genius.  Let them lose their fucking money like any of us do when we make a bad bet.   Or should the banking and bondholder class continue to be allowed to privatize their gains and socialize their losses as is occuring in the United States and most of Europe?

Sun, 05/06/2012 - 18:26 | 2401757 gmrpeabody
gmrpeabody's picture

"whether you want to blame the bankers or the people who believe retirement should be possible for the average Joe"

Really, that's  a bit of a spin and a little unfair. I believe his point was WHY the average Frenchman feels he is entitled to retire 10 years before anyone else in the Western world at 80% pay and 100% benefits. Certainly he is in favor of all the average Joes in the world having a descent retirement. You really sound like a hack .

Sun, 05/06/2012 - 18:41 | 2401774 LetThemEatRand
LetThemEatRand's picture

I'm a hack?  The normal retirement age in France in 65.  Only Germany, Norway and the U.S. have a higher normal retirment age (67 in all three countries).  Obviously some people retire earlier, but the idea that the French all retire at 55 is just bunk.  Do you always begin your debates with a false premise and then accuse the other side of spinning because they want to discuss facts instead of your fiction?

Sun, 05/06/2012 - 18:47 | 2401818 LetThemEatRand
LetThemEatRand's picture

And P.S.  God forbid the sheep would want to retire while they are still healthy and able to enjoy it.   Some people love what they do and don't want to retire.  Most people, including most of those who work menial or dangerous jobs, want a little light at the end of the tunnel.  What the hell is wrong with that if society can afford it (which it can if we don't give all of our money to the banks and military and prison industrial complex).

Sun, 05/06/2012 - 18:55 | 2401841 Xkwisetly Paneful
Xkwisetly Paneful's picture

Whoa look the fuck out!

THe banks are financing private pension plans now!

Anyone else know that?

Amazing! For so long I though the government was only responsible for government pensions.

So why would average retirement age of the private sector matter even a teeny, weeny little bit?

Do I need to go wiki Norway and Germany as well? Since the France number was total crappolla like almost everything you post?

Sun, 05/06/2012 - 18:59 | 2401851 EscapeKey
EscapeKey's picture

Sheesh, you come across like a 12-year old whose pocket money has just been cut.

Sun, 05/06/2012 - 19:00 | 2401848 Xkwisetly Paneful
Xkwisetly Paneful's picture

and PS the US could have ZERO military and would be just as broke.

How do I know this? Oh I don't know? much of liberal social europe already sold off their militaries and are dead broke.

Oh but it will be different this time.

I only deal in actual facts, I don't make shit up and then go find some whacko resource to support said fairy tale.

 

Sun, 05/06/2012 - 19:26 | 2401927 Harbanger
Harbanger's picture

Your avatar is a socialist reading your post.

Sun, 05/06/2012 - 19:29 | 2401939 ForTheWorld
ForTheWorld's picture

So essentially you're saying that gross mismanagement of funds is to blame?

Sun, 05/06/2012 - 19:36 | 2401957 Harbanger
Harbanger's picture

I blame the Budget.

Sun, 05/06/2012 - 18:52 | 2401832 Xkwisetly Paneful
Xkwisetly Paneful's picture

Hack deluxe.

Have you figured out how fractional reserve currency works yet?

The average retirement age in France is certainly not 65 misinformation bot.

How could any human with one brain cell believe that?

http://en.wikipedia.org/wiki/French_special_retirement_plan

Game over today? your usual misinformation is not even in the ballpark.

YEa normal guy collecting 5 pensions and full healthcare at 55yo.

 

Sun, 05/06/2012 - 19:01 | 2401852 LetThemEatRand
LetThemEatRand's picture

Since you like Wikipedia, read on clown.  At what point does the truth become just an inconvenience to you people?  I realize that your ideology is all important, but come on.

http://en.wikipedia.org/wiki/Retirement

Sun, 05/06/2012 - 19:19 | 2401894 Xkwisetly Paneful
Xkwisetly Paneful's picture

In the private sector the average retirement age is 57.5.

The French military: the average retirement age is 45.7.

EDF and GDF average retirement age: 55.4-the utilities.

RATP: average retirement age: 54.8-public transport.

SNCF average retirement age: 52.5-national rails

There is France.

Go make up some more stuff.  These people are real victims!

They the winners, know nothing not the losers in this game.

The real question is how could anyone believe it was 65yo? How is that even possible?

Sun, 05/06/2012 - 19:59 | 2402022 Think for yourself
Think for yourself's picture

wait a minute... I know you guys are discussing serious stuff and all, but I think you all forgot the first thing to be said..?

Silver, bitches! 

Sun, 05/06/2012 - 18:30 | 2401766 Theta_Burn
Theta_Burn's picture

If this is true HooRaa, or should we hold our breath for another "vote of CONfidence" The Greeks don't need any help running their country into the ground, thank you very much. hear that Merkel, you PVC suit wearing brute...how dare you try to reign in Greek insanity.

Well played Greek left, clearly its all Germany's fault, and all you gotta do is sell that to the Vlahos citizens....(and they call Americans fucked up) now Greece will gladly accept austere light just to stick it in Germany's eye.

And Rand, your posts usually border on idiotic, but you nailed this one......+1

Sun, 05/06/2012 - 18:33 | 2401775 margaris
margaris's picture

Exactly.

The big banks have not felt the slightest pain so far... which is outrageous to begin with.

Also, what exactly did greece recieve for free? Money printed out of thin air, with a giant interest rate attached to it?

Who decided that.... fucking illegal loans.

Sun, 05/06/2012 - 20:24 | 2402074 Calmyourself
Calmyourself's picture

Wave the salts under my nose, I agree with Eat rand... Was that a pig in that tree?

Sun, 05/06/2012 - 20:34 | 2402110 nmewn
nmewn's picture

I too was taken aback by the privatizing profits and socializing losses comment.

Maybe we have a breakthrough moment in crony capitalism here ;-)

Sun, 05/06/2012 - 21:04 | 2402179 Calmyourself
Calmyourself's picture

Don't get your hopes up we know what happened last time she broke my heart with that death tax garbage... ha..

Sun, 05/06/2012 - 18:14 | 2401717 Paul Atreides
Paul Atreides's picture

Try to stop your brain from farting in public please!

Sun, 05/06/2012 - 18:27 | 2401760 Landrew
Landrew's picture

Not a surprise, almost nothing of what you said is true.

Sun, 05/06/2012 - 18:58 | 2401846 Harbanger
Harbanger's picture

It's much easier to blame than to take responsibilty.  It's hunting season on scapegoats again.

Sun, 05/06/2012 - 23:54 | 2402500 WallowaMountainMan
WallowaMountainMan's picture

'Their debt is increasing at an eye popping rate which has virtual nil to do with any banker.

get it?'

yup, seems like someone must be pointin' a gun at the heads of them stupid bankers, loaning that kinda money to people who have a track record as good as the greeks have. what with only four or so bankruptcies to their name, this century.....in the old days, europeans used to say, hey, its the greeks...that's what they do.

Dumb bankers. should lose every dime. again. again. a...

Sun, 05/06/2012 - 16:43 | 2401497 maxmad
maxmad's picture

The wick is lite!  Watch it collapse Bitchez! 

Sun, 05/06/2012 - 16:51 | 2401514 Sudden Debt
Sudden Debt's picture

Not so fast.
As a country that had 3 majorities in parlement which caused our government in gridlock for over a year I can asure you that 10 PARTIES WON'T DO SHIT AND ONLY CAUSE A FULL STOP IN ANY DECISION TAKING.

4 YEARS OF STATUS QUO HERE WE COME!

This is the best thing bankers could wish for.

Sun, 05/06/2012 - 17:18 | 2401608 macholatte
macholatte's picture

 

There may never be another Iceland. The machine is working perfectly. The sheeple are being rounded up and corralled and being fed from the gutter of socialist greed. It’s banker heaven. More free lunch. More debt. More free lunch. More debt. More free lunch. More debt.  Party like it's May, 1929.

Sun, 05/06/2012 - 18:07 | 2401645 Sudden Debt
Sudden Debt's picture

Yep, let them discuss their problems untill the end of time and don't give them the option to do anything about it.

What was written will come to pass. Nothing they can do to stop it.

Sun, 05/06/2012 - 23:21 | 2402456 StychoKiller
StychoKiller's picture

Hmm, where they gonna find the Billions of Euroz to keep paying off the Banksters?  To Greece:  You can STILL tell them to pound sand...

Sun, 05/06/2012 - 17:40 | 2401662 SovietCong
SovietCong's picture

With the pro-bailout/anti-bailout split coming down to a handful of seats, methinks some of those newly elected representatives of the Greek nation will see that their pre-election beliefs in "no more bailouts" were erroneous and, indeed, not in the best interest of the people. Persuading them will be dirt cheap. 

Sun, 05/06/2012 - 18:10 | 2401707 ArgentoFisico
ArgentoFisico's picture

I fully agree. I'm italian, we have had 10-12 parties for decades (and probably forever) here in italy ... no decision will come out of Greece... till a bloody revolution

Mon, 05/07/2012 - 10:19 | 2403227 boiltherich
boiltherich's picture

Greece's history has got a few bankruptcies in it indeed, but it also has military juntas.  And I will point out that it has the highest per capita defense spending in the EZ, mostly owing to paranoia about Turkey.  Greece is in critical condition and the ambulances are all out of gas, I am thinking that if the new government does NOT end austerity and or pull out of the euro then by the end of summer you will see rioting and near civil war that will be all the rational the military needs to take over. 

Sun, 05/06/2012 - 16:48 | 2401513 Beam Me Up Scotty
Beam Me Up Scotty's picture

Don't you mean the fuse?

Sun, 05/06/2012 - 16:56 | 2401539 CrockettAlmanac.com
Sun, 05/06/2012 - 17:15 | 2401599 evolutionx
evolutionx's picture

All about the Banking collapse:

Overview on Bank Credit Default Swaps

CDS on Banks are + 100% on yearly basis

http://www.cds-info.com

Sun, 05/06/2012 - 17:51 | 2401673 Acorn10012
Acorn10012's picture

Pull my finger!

Sun, 05/06/2012 - 18:15 | 2401718 msamour
msamour's picture

Nah, the wick makes more sense, it's a slow collapse , just like a slow burn.

Sun, 05/06/2012 - 20:28 | 2402093 jmcaule4
jmcaule4's picture

Anit-austerity governments and it's implication for future money printing in the Eurozone. 

http://jmcaule-whatimlookingatrightnow.blogspot.ca/

Alf Fields, King World News + More!

Mon, 05/07/2012 - 03:21 | 2402662 jmcaule4
jmcaule4's picture

S&P 500 timing system returns 289.81% over the past five years.

http://jmcaule-whatimlookingatrightnow.blogspot.ca/

Sun, 05/06/2012 - 16:29 | 2401443 monopoly
monopoly's picture

I am supplying the popcorn for all. Giant size.

Sun, 05/06/2012 - 16:34 | 2401464 Gully Foyle
Gully Foyle's picture

monopoly

I'm thinking this won't be a summer of love.

Sun, 05/06/2012 - 16:39 | 2401475 Dead Canary
Dead Canary's picture

Comfy chair, check:  Huge Glug, check:  Slippers, check:

Ok, just waitin for my popcorn!

Sun, 05/06/2012 - 16:43 | 2401495 Global Hunter
Global Hunter's picture

misread that as "Huge Gulag, check"...which works too.

Sun, 05/06/2012 - 16:46 | 2401500 Gully Foyle
Gully Foyle's picture

Dead Canary

George Carlin: I think it's certainly apparent by now that one of the things I enjoy in life is excess... I like things that are excessive. I like excessive behavior, excessive language, excessive violence... it's fun. It's interesting. It's exciting. I like it when nature is excessive. That's why I like natural disasters. All these natural disasters that've been going on, I fucking love 'em. I can't get enough of them. Ah, when nature's going crazy, throwing things around, scaring people and destroying property, I'm a happy fucking guy. I'm a happy fucking guy. I look at it this way... For centuries now, man has done everything he can to destroy, defile, and interfere with nature: clear-cutting forests, strip-mining mountains, poisoning the atmosphere, over-fishing the oceans, polluting the rivers and lakes, destroying wetlands and aquifers... so when nature strikes back, and smacks me in the head and kicks me in the nuts, I enjoy that. I have absolutely no sympathy for human beings whatsoever. None. And no matter what kind of problem humans are facing, whether it's natural or man-made, I always hope it gets worse. Don't you? Don't you? Don't you have a part of you, a part of you that secretly hopes everything gets worse? When you see a big fire on TV... don't you hope it spreads? Don't you hope it gets completely out of control and burns down six counties? You don't root for the firemen do you? I mean I don't want them to get hurt or nothing, but I don't want them to put out my fire. That's my fire - that's nature showing off and having fun. I like fires. You know something else I like? Those spring floods in the Midwest! Aren't they great? Like clockwork, spring floods in the Midwest. Now I'm starting to notice... I'm starting to catch on, that every year... it's the same story. Another flood, in the same place, with the same people, on the same river- SAME FUCKING PEOPLE! And these people do not move, they will not fucking move! They repaint, put down new carpeting and wallpaper and they move right back into the same fucking house on the flood plain, next to the river, and then they wonder why grandma's floating downstream with the parakeet on her head! Fourth time, again, fourth fucking time. There's no learning curve with these people. It's very hard to feel sorry for them. Every year - same people, same rowboats! Out there paddling around... rescuing a chicken. What the fuck kind of a life is that? "Well our kids love it here...? Oh really, what do they got, gills? And while they're showing all that action on the screen, the announcer's saying to me "It's been raining steadily for three months now, the ground can't any more water... The river is cresting higher than it has it two centuries, the levees have washed away...? And I just hope it keeps raining and raining and raining and raining and raining and raining and raining and raining and raining and raining and raining and raining and raining, and it rains steadily for five years... and then after that, for ten years it's cloudy. With occasional showers. And the river never returns to its natural banks! It becomes a completely new river, and the borders of three states have to be changed, and all the maps and atlases have to be redrawn and reprinted... and no one's couch ever completely dries out. For years and years, every time they sit down there's always that little "Squish...? "Dan, Linda, come on in you guys, have a seat" - "Squish!" "Squish!" I like that. I'm an interesting guy.

Sun, 05/06/2012 - 16:54 | 2401515 Dead Canary
Dead Canary's picture

Yur preachin to the horses mouth.

If a little's good, more's better and too much is just right!

Sun, 05/06/2012 - 16:53 | 2401526 pauhana
pauhana's picture

God, I miss that bastard.

Sun, 05/06/2012 - 16:55 | 2401535 Gully Foyle
Gully Foyle's picture

pauhana

"Magnificent Bastard", corrected it for you.

Sun, 05/06/2012 - 17:25 | 2401640 WonderDawg
WonderDawg's picture

Maybe, just fucking maybe, he meant exactly what he said and didn't need your help. If YOU think he's a magnificent bastard, why don't you just say so instead of trying to put words in someone else's mouth?

Sun, 05/06/2012 - 18:16 | 2401721 francis_sawyer
francis_sawyer's picture

@Gully

That was reserved 4 'Rommel'... I guess you didn't read his book...

Sun, 05/06/2012 - 18:32 | 2401769 Gully Foyle
Gully Foyle's picture

WonderDawg

I've been wondering. When people like you go to an emergency room with an eggplant or toilet brush stuck up your ass, do you REALLY think they beleive your were adjusting the drapes and fell on it?


Sun, 05/06/2012 - 19:19 | 2401898 slewie the pi-rat
slewie the pi-rat's picture

one of the sportscasters in SF sez it happened to him with a beer can

could happen to anybody

Sun, 05/06/2012 - 20:05 | 2402040 WonderDawg
WonderDawg's picture

Gully Foyle

I don't know, I'll ask your sister as soon I finish up.

The tired, lazy, unoriginal, worn-out-two-years-ago "fixed it for you" device needs to be retired. It's no longer funny, cute, or interesting, if it ever was. Sorry to break the news.

Oh, yeah. People no longer say, "Groovy", but maybe that will come back into fashion. Here's to hoping.

Sun, 05/06/2012 - 22:19 | 2402337 Matte_Black
Matte_Black's picture

haha.. well gee. I thought it was keen.

Sun, 05/06/2012 - 23:25 | 2402462 StychoKiller
StychoKiller's picture

"Gosh Beav, you wanna get yelled at, and junk?"

Mon, 05/07/2012 - 01:15 | 2402568 Matte_Black
Matte_Black's picture

"No, ya lunkhead, here have a hunk of milk."

Sun, 05/06/2012 - 20:25 | 2402077 Dingleberry
Dingleberry's picture

He was our generation's Mark Twain.

Sun, 05/06/2012 - 16:54 | 2401530 Cortez the Killer
Cortez the Killer's picture

Pretty pathetic that you chose to waste what, an hour of your life transcribing that bit, then pasting it on ZH in an effort to look cool.

 

Sun, 05/06/2012 - 16:57 | 2401542 Gully Foyle
Gully Foyle's picture

Cortez the Killer

Sure dude, first I had to watch all his comedy shows, fucking hours of them. Then I hand copied the whole quote, which I then typed into notepad using the pick and peck method.

Finally I posted it here for you to riff on.

What a douche you are.

( 10 seconds IMDB quotes. Seriously what a douche you are)

Sun, 05/06/2012 - 17:19 | 2401613 Cortez the Killer
Cortez the Killer's picture

My apologies.

You're right, searching the internet for bits by dead comedians, then cutting and pasting them to another site makes a big difference.

loser

Sun, 05/06/2012 - 18:32 | 2401771 Gully Foyle
Gully Foyle's picture

Cortez the Killer

Yep, a Douche.

And even that's a compliment.


Sun, 05/06/2012 - 17:00 | 2401552 B-rock
B-rock's picture

Whatever Cortez...

Sun, 05/06/2012 - 17:29 | 2401644 Oro
Oro's picture

I am with him.

Sun, 05/06/2012 - 20:29 | 2402100 Calmyourself
Calmyourself's picture

Umm, not to piss on the elite, we know the truth no one else does party, but he lived in CA..  Fires, Earthquakes, Slides real act of God stuff...

Sun, 05/06/2012 - 23:27 | 2402463 StychoKiller
StychoKiller's picture

Kalifornica, disaster theme park of the USA! :>D

Sun, 05/06/2012 - 17:45 | 2401668 earleflorida
earleflorida's picture

it better have lot's of butter and not that greecy shit on it

Sun, 05/06/2012 - 16:31 | 2401447 Arturo
Arturo's picture

Can you see the trend?

- 1) Ruling party gets kicked out of the office.

- 2) Alternative party is elected.

- 3) It is imprinted in elector's retina they are the same thing.

- 4) Election caos.

- 5) ?

Grece is in stage 4. Spain in stage 3. France in stage 2.

Sun, 05/06/2012 - 16:37 | 2401470 agent default
agent default's picture

5) Restoration of capital controls and import tariffs.

6) Trend expands throughout southern Europe

7) Euro collapses, EU collapses. Eurocrats have to find a real job.

Sun, 05/06/2012 - 16:48 | 2401509 Gully Foyle
Gully Foyle's picture

agent default

"7) Euro collapses, EU collapses."

That's been one of the positions held at Automatic Earth. Euro collapses and money flows back into the US strenghtening the dollar for a short time.

 

Sun, 05/06/2012 - 16:55 | 2401536 WmMcK
WmMcK's picture

Too short -- convert any fiats you can now. Leave the nickels, get away from the steamrollers.

Sun, 05/06/2012 - 17:15 | 2401600 sunaJ
sunaJ's picture

Actually, I heard that there are $.07 worth of metals in each nickle.  I'll give you a dollar bill for each 20 nickles...

Sun, 05/06/2012 - 16:56 | 2401540 maxmad
maxmad's picture

By a short time you mean less than a week!  Dollar collapses 2-4 weeks after the Euro collapses!

Sun, 05/06/2012 - 17:35 | 2401651 EscapeKey
EscapeKey's picture

Oh, it will, absolutely. But (if) when the Euro collapses, all the other major currencies will eventually follow, one by one. If you can predict the timing and order of the collapse, you could become very, very rich in a very, very short period of time.

Sun, 05/06/2012 - 17:49 | 2401672 Pure Evil
Pure Evil's picture

Let me see if I can pull a Soros out of my hat.

Sun, 05/06/2012 - 17:54 | 2401680 Jendrzejczyk
Jendrzejczyk's picture

"...out of my ass."

Sun, 05/06/2012 - 16:32 | 2401457 batz
batz's picture

 

So what do they get if they reject bailouts? Sanctions, foreign asset seizures, crippling margin calls, and possibly war.

I foresee a period of gunyacht diplomacy.

Sun, 05/06/2012 - 16:34 | 2401462 Conman
Conman's picture

cough"Iceland"cough

Sun, 05/06/2012 - 17:11 | 2401586 NemoDeNovo
NemoDeNovo's picture

I can only hope the SOON here in the USSA we start the chant of......

We are ALL ICELANDERS!!!!  Screw the bankers, take your FIAT and don't let the door hit ya where the good lord Split ya!

Nemo

Sun, 05/06/2012 - 17:37 | 2401656 EscapeKey
EscapeKey's picture

Are you kidding me? The very second you choose to make a stand in the US, under the NDAA, they will imprison you forever without a trial.

We're yet to see those kinds of extreme - borderline fascist at best - laws over here in Europe.

Sun, 05/06/2012 - 18:01 | 2401693 slewie the pi-rat
slewie the pi-rat's picture

i'm now in a totally self-contained blacked-out slewieTM bunker, but i could only afford to go two storeys underground;  however, i have the lead roof!

hey, EK!  tyler nailed this, didn't he? 

tyler is why we are here, BiCheZ!

keep drinking, tyler!

Sun, 05/06/2012 - 19:49 | 2401996 Likstane
Likstane's picture

looks like slewie....smells like slewie....tastes like slewie.   Good thing we didn't step in it. 

Sun, 05/06/2012 - 22:23 | 2402345 Matte_Black
Matte_Black's picture

yeah. that's fuckin slewie for real haha

Sun, 05/06/2012 - 17:14 | 2401590 Rynak
Rynak's picture

How can a nation possibly do worse, than racking up negative pow... sorry, i meant to say debt, at triple digit percentage rates per year? At current unemployment, suicide and a whole lot other rates, the greek population really can't get it any worse.... besides of outright war or occupation... and this would look VERY ugly to other european populations.... the moment you currently start war bullshit on european soil, what you gain in power in greece, you lose at home.... because there is no popular support for something like this. Heck, you can't preach "we're all one big happy family and must help each other" to the serfs for 10+ years, and then in just one year make an 180deg U-turn.

What's left? For the banksters, cheating and dirty behind the curtains deals.... for the population, nothing left to lose. Unfortunatelly, the former wont change anything about the later.

With war off the table, the best the banksters can wish for, is to fleece as much as they can, and then accept default on the remaining debt. In fact, realistically that is all they ever could have hoped for, right from the start. Thus, the question is just one of how early or late a default happens, not "if".

Sun, 05/06/2012 - 17:39 | 2401657 EscapeKey
EscapeKey's picture

What's left?

World War 3. If for no other reason, to cover up all the lies and deceit.

Sun, 05/06/2012 - 18:09 | 2401711 slewie the pi-rat
slewie the pi-rat's picture

i think in the post-modern version, WW3 is not fungible right now;  everyone would be BK at the first shot

i think we have gazillions of shitheads generating endless bullshit;  then they wiegh it and: that's the economy!

Sun, 05/06/2012 - 16:34 | 2401463 RacerX
RacerX's picture

ooh, this is when the magic happens

Sun, 05/06/2012 - 17:59 | 2401686 Jendrzejczyk
Jendrzejczyk's picture

Where's Chim chim? I miss that little rascal.

Sun, 05/06/2012 - 16:35 | 2401466 Croatian Patriot
Croatian Patriot's picture

2 votes missing?  Buy, buy them with many €€€€€€€

Sun, 05/06/2012 - 16:37 | 2401472 slaughterer
slaughterer's picture

I think they can buy those 2 votes from one of the little parties who would be flattered to be in power. 

Sun, 05/06/2012 - 16:35 | 2401467 Wolferl
Wolferl's picture

It´s that easy. The Greeks have to accept the bailout conditions or they are running out of money immediatly. Doesn´t matter who sits in the Greek parliament.

Sun, 05/06/2012 - 16:40 | 2401482 Eally Ucked
Eally Ucked's picture

Yes, it's that easy. They run out of money any way because all bailout money went to foreign banks.

Sun, 05/06/2012 - 17:20 | 2401621 Marco
Marco's picture

Not all of it, Greece is still running a trade deficit ...

Sun, 05/06/2012 - 16:42 | 2401493 Conman
Conman's picture

They are running out of money to do what with? To pay down debt with more debt? Can meets the end of the road.

Sun, 05/06/2012 - 17:56 | 2401684 Wolferl
Wolferl's picture

They are running out of money to buy food and energy. The Greeks are not even capabale to produce enough food to feed their people. The sad, sad truth.

Sun, 05/06/2012 - 20:16 | 2402056 Rynak
Rynak's picture

And more debt (and less tax income and more interest and... and.... and...)... is helping that situation how?

Now..... considering most of the bailout money goes to banks..... and considering that pretty much the whole scheme is only digging their own grave ever deeper.....

...how can stop digging deeper, be any worse? You know... all that austerity.... all that privatization.... what if in a worst case, all that cash would actually improve the budget balance, rather than interest payments to banks?

Greece is bancrupt.... whenever a corp triggers this line, it is obvious what to do.... yet when govs hit it, maths are supposed to work according to different rules?

Bullshit. If you cannot pay, you cannot pay.... it's that simple. And if you have a shortage of wealth, then to make yourself selfsustainable again, you first invest in sustaining yourself.... not creditors. When creditors made stupid bets, you fuck them, and work hard save your own life.

After all, that's why there are interest rates at all. They do not merely represent "potential profit for the lender"... they also represet "potential risk of default by the borrower". Even ignoring all the evils of fiat and the current financial system, the job of a bank in terms of credit, is to gamble on profit vs risk... and deal with the consequences.

Sun, 05/06/2012 - 17:18 | 2401611 EuroSovietSerf
EuroSovietSerf's picture

Not if they stop making interest paymens they don't.

The banker crooks have been scaremongering everyone so long that many actually believe default would be bad. Well it would certainly not be as bad as to keep the wealth-destroying Euro.

Sun, 05/06/2012 - 16:39 | 2401471 Dead Canary
Dead Canary's picture

Just loaded up on B-relics Friday. Kewl!

Sun, 05/06/2012 - 16:47 | 2401508 jomama
jomama's picture

i scored 100oz. Ag last week while it was near 30 flat.  bonus!!

Sun, 05/06/2012 - 17:01 | 2401556 Dead Canary
Dead Canary's picture

Muahahah!   We'll RULE THE WORLD!

Sun, 05/06/2012 - 18:16 | 2401719 junkyardjack
junkyardjack's picture

Nice, you'll get another chance at a lower price this week

Sun, 05/06/2012 - 16:40 | 2401480 l1b3rty
l1b3rty's picture

The Greeks gotta start hoarding their cash and using those other alternative currencies.

http://silvervigilante.com

Sun, 05/06/2012 - 16:40 | 2401481 rsi1
rsi1's picture

ATHENS (Dow Jones)--Greece's leftist Syriza party, which looks set to take second place in Sunday's national elections, will seek to hook up with other left wing parties to form a government, its president said.

In a televised statement, the leader of the Coalition of the Radical Left party, also known as Syriza, Alexis Tsipras, said he will stick by his commitment to annul Greece's austerity package.

"The parties that signed the memorandum now form a minority. Their signatures have been deligitimised by the people," he said.

"The people showed at the ballot that national salvation does not go through the memorandum."

With some 35% of the vote counted, Syriza trailed conservatives New Democracy and is backed by about 15% of voters. New Democracy was in first place, backed by just over 20% of voters.

Minutes later, the Communist Party of Greece ruled out teaming up with Syriza.

Sun, 05/06/2012 - 17:08 | 2401584 Bag Of Meat
Bag Of Meat's picture

Syriza is looking for monetary solutions . Reading ZH helped me understand that these won't work, and thats the reason the Communist party rejects the teaming proposition

Sun, 05/06/2012 - 16:41 | 2401483 Zgangsta
Zgangsta's picture

They've gotten this far by fudging the math...why stop now?

Sun, 05/06/2012 - 16:41 | 2401487 Loukanika the r...
Loukanika the riot dog's picture

Comment by @teacherdude from twitter PASOK is now one with the people. 70% of their MPs lost their jobs today

It's also the first time a winning party has the same percentage of vote as the percentage of people unemployed. I'm sure they can't have all voted for them

Sun, 05/06/2012 - 16:42 | 2401492 XtraBullish
XtraBullish's picture

Incredibly bullish for AAPL and NFLX. Dow 15,000 here we come.

Sun, 05/06/2012 - 16:45 | 2401499 tuttisaluti
tuttisaluti's picture

Slam the Banks and the Hedge fonds

Sun, 05/06/2012 - 16:50 | 2401518 Loukanika the r...
Loukanika the riot dog's picture

Goodnight Merkel , Godnight Bernanke, Goodnight Schauble, Goodnight Draghi

Oops sorry I forgot. You're not going to sleep tonight

Sun, 05/06/2012 - 16:52 | 2401522 smb12321
smb12321's picture

You could add, "or Europeans need to start making babies pronto!"  The demographic nightmare is every bit as bad as the financial one (actually they are two sides of a coin). Now Hollande can get busy with his "pro-growth" agenda.   (Incredibly, commentators report this with a straight face despite overwhelming evidence to the contrary.   Looks like some of those pro-Holland commentators are looking over their shoulder across the channel.

Sun, 05/06/2012 - 17:24 | 2401631 Marco
Marco's picture

Productivity gains from automation make jobs disappear faster than demographic shifts can remove workers ... so no, we don't need more babies.

Sun, 05/06/2012 - 20:58 | 2402162 Calmyourself
Calmyourself's picture

http://www.brookings.edu/opinions/2003/03middleeast_taspinar.aspx

Not true SMB1265236 whatever,  the Muslim population of Europe will almost double by 2015.. Notice Euroweenies will drop in numbers by 3.5% it is almost as though Socialnihilism creates a self reinforcing selfishness that precludes children.  After all you are already the Governments child, right, why share the pie, die satisfied and alone in the heat of the summer in gay Paree'..

Sun, 05/06/2012 - 16:52 | 2401523 denny69
denny69's picture

Let's hope their idea catches fire, spreads wildly and in the process brings down not only the TBTF banks, but The Goldman and Morgan empires along with them. Especially, let's hope that it begins pre-empting American television in order to give the potatoes something else to think about and hopefully, act out. Back to old-fashioned capitalism, I say and the quicker the better!

Sun, 05/06/2012 - 18:20 | 2401739 azzhatter
azzhatter's picture

All it takes is one Dimon or Blankfein hanging from a lamp post and the fuse is lit. They will all be running

Sun, 05/06/2012 - 16:54 | 2401533 Misean
Misean's picture

In the past this would lead to war. But WhoTF in Germany is gonna sign up to go to war for a bunch of wanking banksters?

Perhaps all the banksters thought gamblers and lawyers were just as good as thugs and soldiers...

We'll know soon.

Sun, 05/06/2012 - 17:21 | 2401622 EuroSovietSerf
EuroSovietSerf's picture

"Fight for us, we'll pay you a quarter of a million."

They will have plenty to take that offer up. You see, the bankster crowd has all the money... and many people like money.

Sun, 05/06/2012 - 16:56 | 2401538 Appleseed
Appleseed's picture

SIlVER BITCHES

Sun, 05/06/2012 - 21:08 | 2402189 Calmyourself
Calmyourself's picture

Prove it, once and for all prove silver is the opportunity you all say, postulate it is, gang up on me here and prove it..   Gold has history and CB's do not seem to be buying silver wonder why, FOFOA is probably right that's why...

Sun, 05/06/2012 - 16:57 | 2401544 zilverreiger
zilverreiger's picture

2 seat?   Brussels is calling the counting office as we speak.

Sun, 05/06/2012 - 16:58 | 2401548 theTribster
theTribster's picture

Well, at least Greece has plenty of weapons - fighters, submarines, France and Germany has been force feeding them military supplies for over a decade now - it is completely insane. The powers that be make sure that the Greeks are constantly reminded that they cannot trust the Turks and they are going to kill them some day, this is completely insane. In fact, I believe the Greeks took a very large receipt of MIG fighters (France) and a few submarines (Germany) after the first bailout!

But wait, the Turks told the Greeks "we will reduce our military spending by 20% so you can to" and the Greeks said no! They thought it was a ploy by the Turks to take over northern Greece and the Ouzo factories! Completely insane? nah! Ya can't trust those Turks, their crazy Gold hoarding, sword swinging, gypsies!

Must....Be.....Prepared....At.....All....Costs....

 

Sun, 05/06/2012 - 17:19 | 2401617 IAmNotMark
IAmNotMark's picture

"They thought it was a ploy by the Turks to take over northern Greece and the Ouzo factories! Completely insane?"

Not insane at all.  Have you HAD good Ouzo?  Wow!  That stuff is wicked!

Sun, 05/06/2012 - 17:25 | 2401633 Dead Canary
Dead Canary's picture

Syria should invade Turkey from the rear. I think Greece would help.

Sun, 05/06/2012 - 21:24 | 2402225 Calmyourself
Calmyourself's picture

Probably bring some virgin olive oil to ease the entry...

Mon, 05/07/2012 - 02:29 | 2402629 GreetingsFromGermany
GreetingsFromGermany's picture

Greece has a lot of wappons - but unfortunately no ammunition. Look: http://www.derwesten.de/politik/griechenland-geht-waffen-kaufen-id629807...

Interesting in the article is also the newest deal: Greece - altough it owns about 1.600 tanks (without ammunition) - is going to spend some more (bailout-)billions in 400 disused US-Abrahams-tanks. 

But certainly wappon-purchases don't subserve defense-issues, but rather corruption and to line politicians-pockets. So bailout-money will end in some pretty nice yachts. 

Sun, 05/06/2012 - 17:00 | 2401555 junkyardjack
junkyardjack's picture

lol as if anything happens against Goldman's will...

Sun, 05/06/2012 - 17:00 | 2401557 timbo_em
timbo_em's picture

ekathimerini.com constantly update the counting. as of 23:35 (local time which is UTC+3) ND has 112 seats (including a bonus of 50 seats for being the strongest party) and PASOK has 43 seats.

regardless of their small majority one must not forget that one of the first tasks of the new ND/PASOK coalition would be to cut some 11bn euro by june. I wonder whether this is possible without some ND/PASOK members going postal.

Mon, 05/07/2012 - 00:52 | 2402549 Zgangsta
Zgangsta's picture

What majority?

Sun, 05/06/2012 - 17:01 | 2401559 Non Passaran
Non Passaran's picture

So far, so good!

How's everyone feeling about gold & silver shortly? I'm all in and I can't change, but I figure gold might go up and silver down.

Sun, 05/06/2012 - 17:10 | 2401585 I am Jobe
I am Jobe's picture

Futures indcates Positive open for Gold and Silver. Fuck the paper crap and buy the real thing.

Sun, 05/06/2012 - 18:04 | 2401704 junkyardjack
junkyardjack's picture

Gold soars 0.64%

Sun, 05/06/2012 - 17:03 | 2401560 rodocostarica
rodocostarica's picture

Maine elects RP supporters for Republican National Committeeman and woman. Looks like a pretty clean sweep in Maine as well as Nevada.

 

Go RP

Sun, 05/06/2012 - 18:00 | 2401690 brownie
brownie's picture

Go Ron Paul.  I wish he would be more direct in his campaign against the federal reserve banking cartel and state in his speeches that END THE FED=END FEDERAL INCOME TAX, that would interest tons of democrats and republicans that don't understand what he is about.

Sun, 05/06/2012 - 18:21 | 2401738 brettd
brettd's picture

The home of Collins and Snow?

Go figure.

Sun, 05/06/2012 - 17:07 | 2401577 I am Jobe
I am Jobe's picture

Mission Impossible Theme(full theme)

 http://www.youtube.com/watch?v=XAYhNHhxN0A

 

O fuck. its over.

Sun, 05/06/2012 - 17:08 | 2401581 I am Jobe
I am Jobe's picture

Meanwhile in the Good ole USSA, keep the entertainment alive, Avengers is much more appealing to the masses at this point. Nothing to worry about , Geitner and Bendonkey incharge.

Sun, 05/06/2012 - 17:13 | 2401594 LMAOLORI
LMAOLORI's picture

Hedge Funds Betting Against the Eurozone: Why You Should Worry

(In short we will be forced into Austerity to bail out the Bank's again)

in full

 

http://www.dailyfinance.com/2012/05/05/hedge-funds-betting-against-the-eurozone-why-you-should-worry/

 

Mitt Romney's hedge fund kingmaker

(In short some of the same hedge fund's betting against the Eurozone)

in full

http://finance.fortune.cnn.com/2012/03/26/paul-singer-mitt-romney/

 

Not that Obama is any better he's still on the Bankster's payroll and just think MF Global and you know he will defend them and push to bail them out again!

Sun, 05/06/2012 - 17:15 | 2401598 carbonmutant
carbonmutant's picture

Golden Dawn demanded reporters stand up when their leader entered the press room...

Sun, 05/06/2012 - 17:17 | 2401605 I am Jobe
I am Jobe's picture

u must be shitting me right. No way. I would not stand up for POTUS , who the f cares. They are humans as well. I have no respect for the MOFO's

Sun, 05/06/2012 - 17:36 | 2401647 carbonmutant
carbonmutant's picture

Skai.gr reporting...

kicked out those who didn't.

http://www.newsit.gr/default.php?pname=Article&art_id=138079&catid=9

Sun, 05/06/2012 - 19:32 | 2401950 nmewn
nmewn's picture

Golden Dawn...the fucking nazi wannabes are everywhere.

Sun, 05/06/2012 - 17:43 | 2401664 Bag Of Meat
Bag Of Meat's picture

...And kicked out of the room the ones that didn't stand up. Meanwhile ,outside the building, some neo nazi supporters where shouting racist stuff, while holding torches with their arms stretched up in the nazi way...

Sun, 05/06/2012 - 17:15 | 2401602 Don Diego
Don Diego's picture

no worries, they will buy out some minority party in order to form a majority government. Possibly some of the anti-bailout parties are trojan horses and will participate in the majority.

Sun, 05/06/2012 - 17:22 | 2401625 midgetrannyporn
midgetrannyporn's picture

I would love to see the big banks get greeked with no lube.

Sun, 05/06/2012 - 17:25 | 2401638 I am Jobe
I am Jobe's picture

Start with GS and then JPM.

Sun, 05/06/2012 - 17:47 | 2401671 midgetrannyporn
midgetrannyporn's picture

Ben Bernaked in a Turkish Prison wearing black assless leather pants and a pink tutu top would be my choice.

Sun, 05/06/2012 - 17:45 | 2401670 pan
pan's picture

Blankfien on the receiving end of some Goldman Sex, for a change!

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