Did Papandreou Just Get The Worst Possible News?
Did everyone's favorite pathologically lying Prime Minister finally get the long overdue bad news? After yesterday Bloomberg released the following succinct statement... "Greek Prime Minister George Papandreou will meet with International Monetary Fund Managing Director Christine Lagarde in Washington on Sept. 20, according to an e-mailed statement from the premier’s office in Athens. On the same day, Papandreou will also meet with U.S. Treasury Secretary Timothy F. Geithner, according to the statement. Papandreou will visit New York and Washington from Sept. 18 through to Sept. 23, and will speak at the United Nations General Assembly, the email said." BBC News now follows it up with.... "Greek Prime Minister George Papandreou has cancelled a visit to the US because of the seriousness of the country's debt crisis, Greek media reported, quoting government sources. State TV said he decided to return home after consultations with Finance Minister Evangelos Venizelos. Mr Papandreou planned to attend the UN General Assembly and IMF meetings. The decision comes a day after eurozone ministers delayed a decision over debt-ridden Greece's next bailout loan." Having acted like a petulant child most of his political career, did G-Pap just pull the final act and "retaliate" at the IMF and the US for snubbing him in the only way he knows - by refusing to grant Timmy G and Lagarde an audience? In the meantime, Europe believes it is ready to cut the cord with Greece...
Here is the official statement.
Never a dull weekend.
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Hope this weekend turns out to better than the last one... I have high hopes on you greece ;)
me too....very HIGH HOPES
It seems he understands one of the cardinal rules of governing, don't leave the country when your military is a tad irritated with you. Coup bitchez!
I can't believe anyone would come to the US and the sole purpose would be to talk with Geithner. That is a complete waste of time.
I'd let Geithner beg to me over the phone to keep the ponzi going - no need to fly to the US and listen to him plead in person.
Maybe, just maybe, the banks are in trouble. I dunno.
Tim Geithner should fuck off back to Goldman Sachs.
Leave Europe and America alone!
http://azizonomics.com/2011/09/17/europe-to-geithner-go-away/
Best outcome for Greece is for another PIIG to default first.
The Greeks are getting another warning via Turkey!
The banksters control. If you don't shape up, we will unleash Turkey against you.
http://www.google.com/hostednews/ap/article/ALeqM5g2fSZzpaJdPyyBE8EwJSvkgFEjEw?docId=3f22562792aa4871a22c8ea5baf3331d
..or a significant military intervention in one of the "grave and gathering threat" countries out there.
We are in a window for potential mass panic:
http://thespiritoftruth.blogspot.com/2011/09/autumn-panic-update-will-ci...
No blood, no revolution.
Greeks need to start burning shit down. Start with bankster's property. Then move over to politicians.
I think reading tea leaves is probably more accurate than "utilizing the lunar-based Hebrew calendar."
The 1929, 1987 and 1997 (Hong Kong) stock market crashes all occurred on the same day on the lunar (Hebrew) calendar:
Autumn Panics: A Calendar Phenomenon
What are the odds of that?
I'm just pointing out the facts. How you deal with that is your choice.
Some guy did a study and wrote a paper, so it must be true.
Once the G leaves do we call it PISS?
Another thing.
Geithner was just in Europe. Whatever he had to say he could have, and did say then.
So why the visit in the first place.
But the really intriguing thing is obviously.
Why turn back when you are already on your way there.
"... I have high hopes on you greece ;) "
"me too....very HIGH HOPES"
me three .... High Hopes .... http://www.youtube.com/watch?v=nIDLC8M4R28&feature=related
High hopes?
I got that SOOOO beat!
http://www.youtube.com/watch?v=wwht3dDPL_Q
Greece = Bear Sterns. So in little Timmy's fantasy world, like taxes, he's technically not lying when he says they wont let another Lehman occur.
The question now is who is the Lehman....
BAC
Greece is already in shambles. They need to just suck it up and finish the EURO. It is a flawed currency from the start. Just as every other FIAT currency is. But the EURO especially because of the way debt was carried forward once established. Goodbye Greece, and thanks for all the Fish!
http://silverliberationarmy.blogspot.com/
Let is burn down, down to the ground. Lets go back to being good neighbours, good people and not just money hungry fools.
Well said freetfn.
Hear Hear, outside of coals to newcastle, who is listening listening?
ORI
Canceled because Berlusconi is coming over for a bunga-bunga party.
Take this petulant child out to the woodshed and paint his barndoor fire engine red.
It is cancelled because it's been decided to bail out Greece one more time
to
Zorba,
Are Greeks allowed to buy bullion gold in Greece? and if so have they been buying?
They are,but with a 20% premium the official way it's just wrong.Not to mention that Central Bank wants your full data to proceed.
www.bankofgreece.gr/Pages/en/Markets/LIRA/DispItem.aspx?FltFld=ID&FltVal...
buy from Piraeas aderfe. den rotane tipota.
I wish i could.With my few savings i bought silver a year ago.
Oh, Paulie...won't see him no more.
Wow. What a regular soap opera this has become.
Well, Paps obviously did not hear all the rumors that Greece is fixed again. Doesn't he understand the inherent healing power of criminal syndicate Wall Street banker rumor mongering [to cash in upside calls on option expiry day]?
I think he feared returning to being nothing but a Pap smear in Greek Memory.
ORI
The way it reads suggests the Finance Ministry told him something horrible. The obvious thing to suspect is that the deficit is far worse than previously reported and Eurostat will have to be informed.
And maybe a cherry on top might be . . . evidence some of the EU's/IMF's 1st tranche bailout was stolen and has disappeared.
That would just about end the party.
You're kidding, the Greeks miscalculated their debt? Mon Dieu! Were any Goldman Sachs people lurking about?
Could be the Turkish warships sitting off the Cypress coast. Warning the Greeks not to drill.
And now this.
Turkey's European Union Affairs Minister Egemen Ba??? walked out of a conference in Yalta, Ukraine on Friday night
Military tension is building up among Greece, Turkey and Israel as Cyprus prepares to start exploratory drilling for gas offshore Monday, Sept. 19 in the face of threats from Ankara. All three have placed their air and sea forces in a state of preparedness along with the Cypriot army.
Well that would certainly take their, and our, minds off the financial crisis.
DELICIOUS! and which side will that despicable little war state come down on?
Up till now (since "fall of communism" & "end of cold war" days) they have been pretty good at playing ALL sides against the middle - TALKING "freedom & democracy!" while SUPPORTING thug dictators in bahrain, libya, saudi, (etc.); supporting puppet dictator saakashvili's war in S.Ossettia (georgia), while simultaneously "PRIVATIZING" all the wealth OUT of russia they can get their paws on; CLAIMING that they are "EXPERTS" on America's economic 'leadership,' while OUTSOURCING usa jobs to chi-com china (etc etc etc etc.) - but sooner or later, ya got to put down your chips, and place your bets! and take sides - and THEN maybe folks will start to take notice?
aka prepare for default
aka prep for more Greeks lighting themselves on fire
The day that Greece defaults
The Dow will be up 500 points on the news
There will be a huge sigh of relief once that country is cut off and left to flounder on its own.
Hurry up and get it over with so we can resume the economic recovery and remove all this uncertainty.
Controlled implosion or contagion explosion?
There is never just one cockroach.
resume the economic recovery
Yes, it's "uncertainty" about Greece that has dragged the global economy to the brink of recession.
You sir, are an imbecile.
but but but phd economists told me we are in a "growth recession" so it cant be that bad
No, he's a troll. An imbecile wouldn't have managed to keep coming back to ZH for over 2 years straight - Robot , even if he were a dumb fuck to begin with , wll have learnt a lot even through simple osmosis being around this place.
He simply enjoys being the troll , a contrarian troll to the ZH group think ( Im not knocking ZH but there is still a bias its just that bias is a counter weight to the mindless MSM)
My bet is Robt trader has even bought gold in the last 6 months and hasn't bought a share in a momo stock for ages ( he scares like a virgin on prom night)
He likes to take the unpopular view and courts others derision. Freud would have a 4 hour erection dealing with a case like robot trader.
So Robot trader, tell me about your relationship with your mother.
It's not about his mother (cute little hottie that she is). Troll-like behavior is more commonly caused by childhood traumatic events. Think of the four-eyed kid who used to get swirlies from Bobby McCoy in third grade. As the swirling toilet water is going up his nostrils and his adrenaline levels soar as he fears for his life, the coping strategies he uses to get through that event become etched into his future behavior by the adrenal receptor neural pathways that are established. Each traumatized child responds differently but the patterns become wired in, often for a lifetime. Robottrader responds to the angst of seeing our world economy melting down by a self-soothing pattern of forcasting that things will magically improve despite the threat. This is based on his unique way of dealing with Bobby McCoy all those years ago in some LA public school but it has been reinforced a lot in recent years by living here in Bizzaro World. Others react differently. IQ145 for instance reacted to his swirly by puffing himself up and saying to Bobby (not out loud) "I'm smart and you're an idiot" and it still shows in his posts. I, on the other hand respond with sardonic comments rather than screaming out "the world is coming apart". It's much more soothing. Damn you, Bobby McCoy wherever you are!
TROLS BITCHEZ!
LOL Robo, I can't believe they junked you for saying the markets would ramp on a Greek default. Of course they will ramp. They ramped when the SNB intervened. They ramped on the worst economic data yet last week. So, of course they will ramp.
The tools the Bernank keeps bragging about are ramping the markets and hitting gold with a big ugly stick. That's what he has been reduced to. So if Greece defaults, expect gold to get a kick in the nuts. (reverse logic is still logic in this topsy turvy world)
astute observation. That's the way I see it too. Long term, however, it's a different story. Italy's next...
Its gonna ramp until the excrement hitting the fan starts hitting the ignorant ramping fools in their FACE! But then it will be too late and those fools are gonna take a hot feces bath.
Sure...maybe after the Greek banks collapse, and then after the French and German banks collapse on contagion, causing the US zombe TBTF banks to be nearly wiped out, and maybe after the US dollar ramps [Dixie to 80 or so], causinig oil to collapse, taking every last oil service company in the S&P with it, and after a couple weeks or months of carnage in the FX markets as models begin to price in the end of the Euro dollar...sure...you might then get a 500 point DOW rally...after a 3000-4000 point plunge.
I thought about that too. But europe is not about Greece, it is about all the countries in the similar situation: Ireland, Italy, Portugal, Spain, France, etc. They are all doomed.
Remove the uncertainty and be certain that Italy will certainly be our next uncertainty.
Well said.
But Italy has a large stack of gold. Not a chance in hell that they'll allow(or force) Italy to Exit the Euro zone
Italy, France and Germany combined have more Gold, allegedly, than the US allegedly has in Fort Knox.
http://en.wikipedia.org/wiki/Gold_reserve#Officially_reported_gold_holdings
What about all the banks that hold Greek sovereign debt? They pretend they didn't just get hosed?
It's not Greece defaulting that's such a big deal, they've done it before. It's the ripple effect that will shake the foundations of the Euro.
Those European banks MAY have bought CDS's from US banks to hedge those loans to the PIIGS. Dominos.
I agree with you Robot. Move Greece off the chessboard, markets strengthen.
I would agree with you if it wasn't for the fact that the chessboard is rotten as well. The world has run out of excuses and places to hide. The resolution will be painful and will take unpredictable twists and turns owing to the puppet masters trying to manipulate the situation to their benefit to the very last.
Moving Greece off implies that other, bigger countries will be moving off, since their conditions are similar. This is good for the market?
What about when the rest of the PIIGS default? We'll go up 1000 points each then?
I don't even think you believe this stuff anymore.
which is why you are a part time, contract 1099 processor living in a 600 square feet apartment overlooking a clogged los angeles freeway eating 99 cent subs with a groupon coupon.
robottrader: when you can't get enough of dick bove.
Yes, there will be a big relief among all those holding the Greek bonds when they hit the ground after jumping out of the window.
---
Even if there is a manipulated up 500 it will be followed by a down 300 on Tuesday and a down 300 on Wednesday. One day moves in the market are pretty much devoid of meaning. A more interesting number will be the DOW one month after the greek default. 12000 or 10000? I predict a 9000 DOW and 2500 gold for November 1. (unless there is a full blown QE3 in which case everything goes up)
I'll be gladly taking the other side of that trade. But not with you, robo. I don't believe you would really put any money where your mouth is.
I would like to know how much Gold the Greeks are buying with their euros - is euro periphery Gold buying a major factor in the gold price ? - if the Greeks go back to Drachmas - gold or perhaps more specifically English sovergin prices could decline somewhat.
Gotta get that gold loaded up on his yacht to sail away to South America or some such. No time for a fun blood orgy with Geithner and pals.
There are no more places to hide for high value banksters and traitors. Not South America not Africa not a perpetually traveling yacht. They will be hunted down.
The world is interconnected.
Come out clean now while you can rats.
I disagree.
The US and Europe appear to be perfectly safe havens for "high value banksters".
Every high value bankster that is killed will be replaced by another "once innocent" soul suddenly turning evil.
Power currupts.
If the Eurozone implodes and the Euro disappear, we will be in shit a little longer than expected,
as it will strengthen the US$ allowing it to resist a little longer.
And the $ is the root cause of this mess.
Pardon me but which news flow was going to take us down 40%?
Japan nuc
Greece X4
Tunisa
Egypt
Iran
Oil spike to 150 or 115( last one)
Dollar collapse
Black prez
Debt ceiling
Tres bubble
Rimm blowup
HPQ blowup
Katrina
Irene
LTCM
RUSSIA blowup
Ect
Max,
The one you are looking for is debt/bank contagion. Since what we are talking about is a Ponzi market run and owned by banks, debt contagion is more powerful as a negative market catalyst than all other combined [less the last two which were similar events].
This is 2008 on steroids that way.
Ok
Can't wait for Asia to open Sunday night. I have to go and stock up on more popcorn and valium, I think I'm 'gonna need it next week.
Hey Ben, got those helicopters fueled up yet?
Insert mushroom cloud over a gyro here.
Kind of cute that the letter in Greek has FB and twitter links, and there G Pap is with his own FB page...
could it be? could it finally be happening!?!?!
Dont hold your breath.
motorboat
I is confused. They told me at school that countries can not default, not possible for a country to seize to exist. Or was that a lies too?
What's next? You guys going to tell me this Euro was designed to rob the Europeans of their monies and rights they did not have to begin with?
Or did Lufthansa just decline the ticket purchase on his state-sponsored credit card?
They ran out of folgers.
If this isn't all just central banking theatre, and it probably is, GPap better stay away from hotel maids and dump him cell phone. We wouldn't want a scandal or some Greek terrorist to shoot a missile down his cell signal.
You, sir, seem to get it.
it might be petulance but it's had to see any advantage in that at this late stage in the game.
I think the first premise was probably correct; some third party just sent a cable saying, "Sorry George we did the best we could. Good luck." Meaning Greece could be in flames by the 20th.
That's how these things always go down. All kinds of frantic this-n-that, non-stop negotiations, even more frantic dealing ... and then suddenly someone steps in and says it was a good effort, thank you all for your dedication, now everyone go home and be with your families.