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Two years after bringing us the beginning of the end in Acropolis Now, the Economist has closed the loop with the end of the end courtesy of "The Greek Run."
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Wow. Best cover I've seen for a long time.
i stopped reading that rag about two years ago. Lot of young kids 'authoring' propaganda.
Nice cover. Would be nicer if the euro bill used was the 20 trillion euro note with the Reichstag instead of that bridge.
It’s ironic that the guy with the torch ends up in London this year.
A flame that is lit in Greece heads all the way across the continent . . . .
This may mark the end of the Euro, and the beginning of a new GLOBAL currency with a world central bank. In my view, this is the ONLY viable solution going forward. We need to end these destructive currency devaluation wars. We need to end racism. We need to end bank runs around the world, and not just in Europe. The only way to do this is through a single global monetary union, run by the brightest financial minds, which will spread prosperity, freedom and liberty to every corner of the world.
Id like to offer my services to head your bank MDB.
That`s just where disgruntled MDB got kicked out of , an over cynical international private banking division.
Just talking the book.
How does he do it? Hats off to MDB! I couldn't make this stuff up if I wanted to.
yea i admire the guy. if i wrote half the satirical crap he did id prob wanna shoot myself after. funny stuff though
Greek runs are really shitty.
You frighten me MDB. So now the strings will be pulled by a smaller group of cronies?
Thanks for the chuckle of the day, pretending to be so naive to think this would work was pure comedic genius.
A Global currency? What, no Dollar?
Yes , Greece is a fine example of why we need a Global Currency (LOL)
And you just entered the LALA land. I guess you haven't learned from the history what happens when the central goverment takes over the world. And as to the "brightest financial minds...", that's a good one. Heve you ever seen the brightest in any of the gov possitions? Dream on..
Fuck! your thoughts reflects the thoughts of my bitch Max!!
I down-arrowed you just to make you happy, MDB.
But a little to much over the top - you used to be so much more subtle.
AKA, the New World Order? No thanks.
Burning the Euro is a waste of fire.
Greece should either refuse to provide or charge for the olympic flame since the olympics are no longer amateur games but pure dirty business and corrupt at that.
Interesting, that is how the contagion will spread, fromt he out-side in, from out of left-field.
And in an Olympic year to boot. Anyone think that is co-incidence or de-sign?
Propaganda though man.... wow.... like a well oiled machine, the Greek story has been played over the past couple of years, all the elements in play for what makes great, tragic theater.
And OF COURSE, it's all to distract from the on-going, in our face implosion of everything else.
It's hard to see the social fabric tearing when the very shirt off your back is threatened.
ori
the-practice-of-detachment
+1 good global news coverage, but editorial opinions show them just to be another gang of shills for the status quo. More sophisticated than CNBC, but shills nonetheless. And the most galling thing about it is the way they pretend to be the heirs of enlightened rational liberal (in the free market sense) thinking while supporting the printfest every step of the way
Merkollande-land in full blown collapse: Opel megaplant to ditch germany and relocate to the UK to build Astras.
http://www.thelocal.de/national/20120517-42601.html
I prefer the term Ho-mer... "Doh!" will be their most common word this year.
I stopped reading that fine print 10 years ago.
I got bored with the justifications of what war to start next.
Don`t mind the young lads, albion thinking disorders and
the challenges to sexual orientation brought to them by boarding schools...
Despite what the propaganda says, reading between the lines on the cover stories is telling:
* public company decline
* prison reform (reform is needed when there are too many problems, otherwise you call it 'fixing' or 'addressing')
* promising election (promise or pro-misery?)
* upheaval in Turkey and Brazil
* Greece
That which is hitting the fan, is accelerating.
Let us never forget that in the great run to Marathon when the runner got to the square he yelled "NIKE!"
Then he dropped over dead.
All us couch potatos love that story.
Similarly, why in hell is it presumed Greek default is leaving the Euro?
Why not just not pay and keep using the Euro? Use of the Euro is a significant issue. Paying or servicing the debt is.
The strategy of the elites has changed. They WANT Greece out. Greece is a burden pulling the Euro's value down. If Greece leaves the Euro, after a few weeks of upheaval you will see it spike upwards.
Now in contrast if Germany leaves the Euro, that's the end of the Euro.
The economist still reads like a moron's guide to finance now though. Half the magazine is spin on poor management practices in business community and the other half of the articles are veiled advertisements for shit-tier stocks and investments.
The economist magazine has outlived it's purpose as an alternative fishwrap
Cute cover though.
Um, its purpose? Look deeper you'll find some gems of insight into its purpose rest assured.
Guess you never held a print copy. In bright sunlight, it reads : THE IMPERIALIST
Used to have a subscription, cancelled it in 2005, the Iraq war shit was getting too much to swallow.
It was such a good magazine until it wasn't. Lots of that going around these days.
Header...Special Report on The Future of Banking...
Yeah, burning fiat, torches, and bankers...all they're missing is some pitchforks and bread helmets...
What will their globalist advertisers say?
Order can come out of chaos...
...maybe another order of Privatize the Gains and Socialize the Losses, if that particular newspaper has anything to say about it.
Would you like your order Super Sized, this time, with a side of INGSOC?
Change isn't always for the better.
No thanks I'll take a side order of drone strikes.
http://www.reuters.com/article/2012/05/17/us-yemen-drone-idUSBRE84G0FQ20120517
Yemen...another shining example of America's belief in Freedom, Liberty, Democracy, Private Property, and Self-Determinism...but only for Americans.
They hate us for our freedom. Obviously.
drones being used in the US now too... just wait until they arm and use them. Then Americans may finally realize that "freedom and liberty" is just a fiction, even in america.
"Freedom" . . .
http://www.hark.com/clips/lvjqvrpctb-you-think-we-waste-gooks-for-freedom
BINGO was his name-oh!
May I help you?
Yes, I'll take some of those "ancient relics" off your hands please... give me all ya got! ;)
You uncivilized fool if I give you all my "ancient relics" I won't have any clothes to wear
Glad you did not mention law. Or we would be back to Ordem y Progreso. Some great emerging nation would have a leg up on continuing fascist socialist fantasies.
Hey hedgless,
It says there's an 18 page special inside report on the future of banking but I have one of my own already.
Banking can:
1. Match savers and borrowers
2. Provide safe payment system
3. Apply some basic risk management
That's pretty much it. Let us stop pretending banking takes an especially gifted intellect.
Do they mention if the future of banking includes another reduction in the ECB's reserve ratio to something below 1%?
Bank reserve ratios less than one....hmmm.
Would that be called fractional fractional banking?
No! silly friend, that would be called Negative Reserve Banking. It's all the rage once you reach Minsky's final phase of Ponzi lending.
I think we just settled the matter in three comments, so no reason for ZHers to go out and buy The Economist.
*high-five*
You're Welcome, Muppetz!
Why would they scare the lemmings like that?
Lemmings don't read the economist?
Lemmings don't know what the hell the economist is.
But Krugman knows what a lemming, er, follower of his column is!
because it's time
Best question on this thread.
Answer: the anglo propaganda press is at maximum screech against the Euro, but it's a way the dollar can't win. Greece stays in, Euro FTW.
Ironic that ZH parrots this propaganda, no?
Years ago they openly advertised that two thirds of their subscribers were millionaires . International corporate and government lemmings bragging subscribers might have been, but who outside hades will have this magazine then showing cover on your letter box ?
Editorial focus downstream to influence former imperial subjects to no avail , so some bright thing got this globalization mouth piece off the track for a reason...
A new olympic torch run.
New olympic game is to run to the ATM withdraw 200 euros and get to the store and buy something before its worthless.
Or before the guys at the back of the ATM line rob you, as the case may be.
Finally, hopefully the rest of the MSM will catch up and stop stuffing flowers up everyone's ass and telling them that we are in a recovery....
Heh heh good one. Old Uncle Warren is buying 63 newspapers so he can do his part in promoting the propoganda.
LOL We certainly know he didn't buy them to make a profit. The newspapers that is, but he's sure to profit from the propaganda!
Epic lulz. ZH and the keynsian US dollar bloc shills at Economist on the same side of the boat.
Both wrong. Greece stays in, sorry boys.
YOU don't get it. If Greece stays in, then the Euro is TOTALLY doomed. If they leave, then the other hangers on will leave as well, and the core Euro might actually survive. Greece leaving will be short term bad for the Euro, but then the reality that the core is now stronger without the extra baggage will hit and it will stabilize. It is all this idiotic printing and guarantee-ing that destroys currencies.
Contradiction. Obviously the ECB isn't printing to ease Greek pain, so what printing do you refer to?
And do tell why Greece staying in dooms the euro.
That's right. All that LTRO money was a loan made against sound collateral using cash from the vaults. No printing was done or will be done, ever.
Sounds good in practice, but since the Euro was a 10-year boon to the manufacturing north BECAUSE of the over-spending drunken south, it all comes crashing down when you boot Greece, Italy, Spain, and Portugal. Either they figure out a way to patch this whole thing together, or we get to trade D-Marks again. There is no tween.
Quite right. You would have deflation in the north, hyperinflation in the south. Everyone loses, so it won't happen.
Ignore the noise.
DM has always been tween or twilight money. Hence it got submerged into Euro. Too strong for it`s own good defined
by foreign powers. If not for the devaluation of DM through
the Euro-scam the North American Peso would be ten to one DM by now and Mittelstand Land being just about to be
re-invaded.
No YOU DONT GET IT. When Greece, Spain, Italy, Portugal leave then Germany, France Bennelux, ECB et all will have to mark their debt holdings in those countries down by 50%-75%. They will have to bailout their banks. They will suffer a 10% hit to GDP.
In short THEY BECOME THE NEXT PIIGS. We need to come up with a new aycronym for them though. Somebody call GOLDMAN they are really good at that!!
Idiot.
First one out wins.Stay together,lose together.
>>"Greece stays in"<<
Well thats the plan dumbass!! LMAO
Except that... let's just say it won't work as planned...
Don't worry, it will work because he says so.
they will stay :)
CTRL-P
A client suggested that the Russians will step in and buy Greece, getting themselves a mediterranean port. Cyprus is stuffed with Oligarch cash, they'll want to protect it. Step 2 is the rest in the periphhery get their debt backed (print) by the ECB (Germany) and they keep the whole rotten thing together.
Either way, the Greeks will give up their country to the banksters. That will end well...
but the withdrawls have all but been done? or are people still furiously taking everything they have out?
am i missing something here?
Those who just pulled their head out of their ass are now running for the ATMs resulting a lots of popping sounds as more pull their head out of their ass. Until the popping sounds stop or the ATMs run out of money (they have no ink so they cant print) the run will continue.
my apologies for not being clear enough. i'm curious of the day-to-day breakdown, is all. as i understand this, seems the vast majority happened on Monday, and has tapered off dramatically since then?
"In the past two years, deposit outflows have generally averaged between €2 billion and €3 billion a month, though in January they topped €5 billion."
http://www.zerohedge.com/news/chris-martenson-we-are-about-have-another-...
What do you do if you are Greek?
a. Withdraw your euros now and move them to a French bank?
b. Withdraw your euros now and move them to a German bank?
c. Withdraw your euros now, convert them to dollars and move them to an American bank?
d. Sell your euros for gold, stuff them in a Cretan cave, hunder down and run sabotage missions against your oppressors (style it on 1940's anti jack boot activity)?
a & b, they are still euros.
c, so you're betting on who will finish last in a race to the bottom
d, at least the first part. Hope you can make it out of the country.
e. sell your euros for silver.
This headline indicates the euro is now about to be saved
Magazine covers are such contrarian indicators
The euro will be saved from itself.
Activate self-destruction in 5..4..3..
Dear Greek bank customer:
EU 50 max withdrawal per day.
All your Euros are belong to us.
Greeks -- if your withdrawals are being limited, do you wanna 'cheat' the system? ... overpay your credit card bill (assuming its not held by a greek bank of course) by a couple of thousand dollars. You'll have essentially "transferred" your Euros out of the bank in the form of a 'credit' that will appear on your card. If you have more than one credit card, do it on all of them.
Good idea, except a certain TBTF card issuer does not allow me to pay online more than my current balance. Maybe they know something...
That would solve the bank run problem
You can bet your ass all of the JPM's and GS's of the world have positioned themselves for the Greek exit by now. The long dollar, short everything else trade appears to be on.
i want to agree with you but then both of us will be wrong
-soap
Burning Euro!
It is comical to hear the pundits and economists talk about Greece not leaving the Euro.
Really? Are you going to annex Greece Europe? Spain? Portugal? Italy?
Good luck with that.
The Economist is setting up for the "austerity doesn't work. The global bank run caused by the austerity movement. There must be a global central bank to respond and provide for pro-growth solutions while responding to bank runs."
Everything about the non-existent "austerity" was contrived from the beginning. There was never any austerity. It was just something discussed with no specific solution even offered or attempted. The Keynesians will claim even considering austerity caused the bank run.
There's a simple retort: all fiat currencies eventually die. A global currency (the only obvious result of a global central bank) will too.
Yes, this is simply more conformatin that the elite are already well positioned. Time to shear the sheeple, again.
Can somebody translate this: http://www.cnn.com/video/?hpt=ieu_t2#/video/business/2012/05/16/chance-m...
I think he asked some interesting questions. And CNN cannot afford a translation? Huh?
By the time something like this appears on "The eCONomist" you know that the elite are already well positioned. Time to fleece the sheeple, again.
So this means buy Greek equities NOW
Remember thei "end of oil" cover in 1999 at $10 WTI?
Here's a collection of oil-related economist covers:
http://www.sais-jhu.edu/centers/geei/presentations/Adam_Sieminski.pdf
1999 - Drowning in Oil
2001 - Addicted to Oil
2003 - end of the Oil Age
2005: Oil: How to avoid the next shock
Even WB7 would be proud of a piece like this
The ultimate goal is to absorb Greece in the European political structure. The trend is toward assimilation. If this period of increased riskiness signals anything, it is that Greece is going to be snapped up, not set free.
Hes running the wrong direction.. France, Portugal, Spain, and Italy are to the left.
Hey. That fire is about to engulf Spain, with Italy to follow.
Get Ready: We’re About To Have Another 2008-Style Crisis
http://www.chrismartenson.com/blog/get-ready-were-about-have-another-2008-style-crisis/75466
Was on here yesterday, keep up
As a Cover Design, it is absolutely brilliant.
Why won't Europe close already so US markets can rally?....
Best Economist cover ever!
The end of the world is near.
When Barack Obama announced the US (2010) national budget for this year, we experienced unprecedented feelings. Never before had an imperialistic power moved them to pity. This is unthought-of. This year’s deficit is estimated to be $1.6 trillion and its foreign debt has gotten completely out of hand. It hits numbers that only mathematicians and astrophysicists knew existed few decades ago. There is no space for these numbers in the electronic boards so it is driven to add new elements on them.
It all started with the big crisis of 1929. The American economy reached a deadlock because of its social "pathogenesis"; a deadlock that led it to economic crisis in a different - faster- pace than the rest of the industrial forces of that time. Important decisions had to be made - mostly social - and the Whites didn't like that, especially the Whites' rulers, the Anglo-Saxons.
www.eamb-ydrohoos.blogspot.com/2010/02/ten-plagues-of-pharaoh.html
Authored by Panagiotis Traianou