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Europe Blinks: Troika Willing To Change Terms Of Greek Bailout Deal
And so it all begins anew:
From Bloomberg: IMF, EU, ECB Open to Changes in Greek Aid Deal, Real News Says
The so-called troika of the European Union, the International Monetary Fund and the European Central Bank is willing to make six important changes to Greece’s financial aid agreement if a pro-European government is formed in the country, Real News said.
The Troika is willing to extend by one year to end 2015 the time for Greece to cut its budget deficit as well as to proceed with a restructuring of loans, the Athens-based newspaper reported in its Sunday edition preleased today, citing “well informed” sources at the European Commission.
The Troika is also willing to maintain the force of collective labor agreements, to alleviate the level of pension cuts or restore certain pensions to previous levels and to keep wage levels in the private sector and reduce the average tax burden on employees, the newspaper said.
If confirmed, and with Germany having stated repeatedly this will not happen, there is a very high possibility this is just another press-based red herring (remember all those FT headlines of an imminent Chinese bailout of Europe?) seeking to exacerbate the political power grab in Europe, where Germany is now surrounded on all sides, this will mean that the outcome of the Greek elections is no longer relevant, as Syriza will propose an adjustment to the bailout plan, Europe will promptly agree since a pro-bailout "coalition government" of ND, Pasok and Syriza will have be formed, and all shall be well, at least until the next Greek bailout in a few months. Then the country will need yet another priming DIP from Europe, and the fiasco begins anew, only this time with even less money left in Greece to be pillaged and plundered by the country's creditors. That, and of course, German capital being pledged in the form of more "contingent liabilities" which are anything but.
But for now, between a Greek "solution", and China easing again, it appears that all has been saved. If only for a few more days, which as the central planning regime is coming to an end, appears the best the planners can obtain.
At the end of the day, it is once again Mr. Panos who explained it all perfectly, and showed just who has all the leverage in Europe.
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After getting a good butt fucking from the Banksters, it seems that the Greeks are now being offered vasoline and kisses.
Message to the Spanish: trash Madrid, refuse to pay your electricity bills, and you may get the same deal.
Message to the Irish: toss the Banksters out on their keisers unless you want to be footstools for England
Message to the Germans: time to leave before you become Europes Bitch, working hard, saving money, delaying retirement while the wanker Greeks drink Ouzo, the Spanish eat Tapas, and the Irish drown themselves in Guiness.
As for the French, why worry about them? They will always find a way to leech off their neighbours.
Message to the USA: your turn is coming...
Mr. Panos: "The Greeks don't bankrupt like heroes - heroes bankrupt like the Greeks!"
The way things are going a Greek island could be a vacationing Euro lender's very last resort.
Big one, I hope you take this as a compliment, but I nominate you the up-scale Henny Youngman of ZeroHedge.
mostly awesome... ;-)
ori
Thank you. Take my life. Please.
don't you have a wife?
Yes. Take my life. Please.
Wow seems like everyone forgot about elections. Pay attention americans if BHO will not win he will steal it.
Wow seems like everyone forgot about elections.
Dude....where you been? They voted for the German bailout. It was like a total no-brainer.
Since they took the German's money it was only right to give the Nazi's some seats.....it's called compromise.
/sarc-out
If they weaken the terms of the bailout,
I shall renounce citizenship of this planet
and move back to Krypton a.s.a.p.
Euro-bankers must be getting really scared now about the possibility of Greece leaving the EU and all the Greek debt they're carrying on their balance sheets becomes worthless.
And no, Germany won't pay it. They'll find a loophole somehow, or just tell ECB fuck off, and if Draghi doesn't like it, no problem, Germany will leave the EU also, and all the Euro debt on bank balance sheets becomes worthless.
Germany's guarantee behind Greek debt is like a CDS. It looks good until something triggers it, then it doesn't pay off due to some loophole in the contract.
So no worries, Greece leaves the EU or Germany does. Either way, euro-banks are fucked. Those hundreds of billions of Greek debt will never be paid off and it'll go worthless at some point.
Then ECB will print and buy it all from the banks.
Yes, ECB is EU's bad bank of last resort (just like the Fed here in America), where all the other banks dump their worthless paper and get full original price for it.
Leading German economist in a recent interview: Yes, the gueantees are a contract. But you know, at the end when we would need to pay we will just do what Greece does and violate the contract. Which is not pay.
Plese dont take all other like bodies with you.
And the EURO will go the way of the DODU DUDU !!!!!
The Greek People:
1- We will default
2- We will not give you the gold for your digital cash
3- Bring it ...
The "picture" of Germany as a thrifty bunch is not accurate. They are a socialist nation run by fascists. Their public sector demanded higher wages, they got them. Their bank demanded to be left alone, they got it. Who runs the place? Certainly not Frau Merkel.
Yeah! Lets change to American system! Obama runs everything, banks are suppressed and no fucking play with anything! Wages going up, everybody is happy according to new poll and no facists! AND PIRANHA is happy
Obama runs everything is not the American system. Montesquieu's seperation of powers idea of a constitutional government with three separate branches of goverment is the American system.
You have the propaganda down straight, but do you still believe it?
The international financiers run America by financing and promoting their operatives into government. Once there, they basically take orders. It isn't total control... yet. But its getting there.
No President or Congress workgin for America would ever subject the nation to international financiers by forcing the government to borrow its national money supply.
The Bill of Rights is dead... killed to "protect" you if you are that much of an imbecile to believe that.
Hey, if "they" (al Qaeda - Pentagon lunch guest with Secretary of the Army just after 911, now funded by the financial oligarchs running America to creat ecivil war and kill of 10s of thousands of dark skinned Africans in Libya and knocking on the door in Syria) "hated us for our freedoms," then they have no reason to hate us anymore since our government took away our freedoms.
http://www.dailymail.co.uk/news/article-1322397/Al-Qaedas-Anwar-Al-Awlak...
http://www.telegraph.co.uk/news/worldnews/africaandindianocean/libya/839...
http://www.infowars.com/hillary-clinton-admits-us-and-al-qaeda-on-same-s...
http://www.telegraph.co.uk/news/worldnews/africaandindianocean/libya/886...
FREEDOM, bankstah style.
"Those who will not use their own brain, they are nothing more than meat on the table and beasts of burden by choice and consent." - Albert Pike (1809-1891) *Morals & Dogma*
Yes, I still believe in the idea that is America.
The international financiers running America by financing and promoting their operatives into government discounts the new populist movement in America. Common people are directly involved in politics like I’ve never seen before. They may have gotten away with financing their operatives in the past with the likes of George Soros etc., but that will change. Going forward, alternate media will vet the politicians that the MSM won’t.
As far as us losing our liberty I agree. Legislation by neo-cons and neo-libs is to blame for that (both are progressive).
As far as muslims hating our freedoms, I think it’s our cultural freedoms (Hollywood etc.) that they hate. Don’t forget the Arab spring was started by a guy who set himself on fire because of an over burdening Govt. that kept ticketing him, confiscated his work cart and wouldn’t let him earn a living. I think they can appreciate freedom from Govt. control.
The impact the TP has made in politics in 3 short years has renewed my faith in the American people and the American system.
"If you will not fight for the right when you can easily win without bloodshed; if you will not fight when your victory will be sure and not too costly; you may come to the moment when you will have to fight with all the odds against you and only a small chance of survival. There may even be a worse case: you may have to fight when there is no hope of victory, because it is better to perish than to live as slaves."
-- Winston Churchill
Freedom Is NOT Free!!!!
If you arereading this YOU are the RESISTANCE!!!
How many "conservative" senators voted against Geitner, Holder, Kagan & Salazar?
Need to grow some stones.
[quote]
Common people are directly involved in politics like I’ve never seen before. They may have gotten away with financing their operatives in the past with the likes of George Soros etc., but that will change.[/quote]
Common folk like George Clooney and friends, raising $15Million FRNs for Obamatron?
Hope you're right; still time to buy a 30.06 though.
+1, quality posts here on ZH today..
Germany is not socialist in the sense of a government for the worker, or employed worker.
Workers wages have stagnated over the past 7 years, a number of welfare rights (funded by mandatory payroll deductions) have been cut, full time jobs replaced by part time unsecured "mini-job" contracts Pensions for workers and super Marios is not inflation linked, so pensioners have falling incomes. This is so since the so-called scoialist party was in government.
Frau Merkel was born and grew up in East Germany, her conversion is not complete, she supports a social-market mechanism, the worst of both systems and is neither one (social) nor the other (price making mechanism).
Yeah, it was a bunch of bankers that made a bunch of spoiled brats elect a bunch of brain dead socialists who spent way too much money and got in too much debt.
When the people find that they can vote themselves money, that will herald the end of the republic. — Benjamin Franklin
Respect for religion must be reestablished. Public debt should be reduced. The arrogance of public officials must be curtailed. Assistance to foreign lands must be stopped or we shall bankrupt ourselves. The people should be forced to work and not depend on government for subsistence. - Cicero, 60 B.C.
Same as it ever was.
QE to infinity continues! They have NO choice.
http://ericsprott.blogspot.ca/
Quantitative Easing needs a new name (QE 3, QE 4,..... is getting old). "Printing" is no longer a good description.
"Debasement" may work? "Bernake has announced another round of Dollar Debasement this week as the Fed's balance sheet rises to 9 trillion dollars....." I must admit it will be fun watching the talking heads on TV during the hyperinflation. "The Dow is up another 200% today, while the price of gasoline tripled overnight to just shy of $600. per gallon...."
How about 'Enhanced Liquidity'? That has a nice marketing ring to it.
How are we raising money again these days? Cause I don't see China giving us anything right now.
You are confused with the Old Creditor USA that everyone used to stiff. We are the NEW debtor USA and we will stiff EVERYBODY and then we will nationalize everything in the US. Unless you forget we still have the LARGEST inventory of Megaton H Bombs (only takes 7 to destroy the planet), Neutron bombs, EMP bombs, VX Nerve gas, Bio weapons only the mind of Stephen King can imagine, and that is just the Tip of the doomsday iceberg. So come on and try and collect. Viva MASADA bitches! Just remember that everyone in the USA averages 2 guns per person. That's 600 million guns. That is almost more guns than the rest of the World's military combined. Feeling Froggy? Jump Bitch!
We just might be the evilest mofos on the planet! We're #1, we're #1!!!
The Dollar is backed by the US military. "Accept our IOUs or else" should be printed on the $100 bill.
I think you're totally crazy and all, but agree with one great point: whatever happens with the government, the folks who live here aren't going down easy.
hmmm, your comment had me do a mental inventory:
1911 .45, M-1 30 cal, AR18 5.56, Yosemite Sam Gun (http://en.wikipedia.org/wiki/Smith_%26_Wesson_Model_500) [I call it that because it's cartoonishly large] .500 cal, Red Ryder BB gun, and two Boy Scout crafted slingshots with new rubber bands.
I'm packing, baby!
After getting a good butt fucking from the Banksters, it seems that the Greeks are now being offered vasoline and kisses.
PIMCO's Gross broadcast in precise clear terms that Greeks (not Greece) should mime Iceland's model - just tell the bondholders, the CDS holders and the fancy pants "financiers" that cooked the "ponzi" to settle up amongst themselves. Iceland told the IMF to bite it!
Hard to see how a Greek "NO" referendum can be construed as "maybe" Granted, Germans don't want to bail anybody out. Goldman mounted Italy and the IMF, But that don't change "NO" to "maybe". Merkle faces comparisons, one way or another to Hilter (whose big crime was removing Germany from international monetary structures),
MF Global strategy was weighted in the infinitely long EUR. The morgue is alleged to have warehouses filled with physical metals of all classes, implying the morgue was/is long EUR too!
Even if Germany was to bailout Greece, despite the referendum, there are a gaggle of other risk laden little PIIGS. Does Germany have the cash, or will Germany have to borrow to service a hypothetical Greek bail. If greek is refied - it will be temporary. Ya can't revive the dead, so why pretend with a "Weekend at Bernie's"? Why loan if it ain't gonna get paid back - it make no sense whatever.
THE BIG QUESTION IS WHERE THE PRINT WILL ORIGINATE.
There has been gossip that the ECB could print. Don't know about ECB authorizations, The FED could print a USD loan to the creditor writing the Greek bail check. For sure US money centers with an over abundance of underwater long EUR bets cluttering their portfolios, like the morgue, would love the FED to print a bail for Greece!
Value will inevitably dilute to absolute non-value and we will be in a world of shit - the world of zero returns (maybe NYC Power and light will forgive HFT energy bills so they can continue to "pretend". All crimes unwind. The one getting ready to undo itself now has be ongoing for a century.
About really big double dog big crimes of the millenium.
We ignore the big important crimes. Average Joe thinks crimes are small change heists, boom booms, honey pot dippers and bribe takers blasted from the hypno-tube. Average Joe is blind to the really big successful crimes.
Conspirators burn years, or decades planning the really profitable enduring crimes, crimes of the millenniums can self sustain for centuries.
Recipe for "A Crime of the Millenium"
Mix a dash of expert knowledge of "the" human condition and social structures, with some prescience, critical path analysis analysis in a large bowel of a virtuoso's mastery of Machiavellian principals on death cult mysticism and gads upon gads of psychopathy with a sneezed plug of cultural and ethic xenophobia, and voilà, yuz gotz one fat batch of multi-spectral Double Dog Demon Schnapps guaranteed to turn any Human into compliant glut siphoning bloated warehouses of ignorance and apathy extraordinaries, a "consumer", aka, Average Joe!
Institutions have to be created or infiltrated. The placement of patsies and stooges in "authority" throughout the crime's duration is a consideration. Because the "heists of the millenniums", are, by design, trans generational, a bunch of study and effort goes into assuring intended custodians and advocates of the caper (with the exception of only the purest psychopaths), how to protect promote and maintain the caper and the capers custodial ascendancy. Indoctrination is always critical. Aspects of the crime that can't be hidden from view would be protected by free speech taboos. Factual history is replace with "canons".
The Federal Reserve is an element of a trans generational conspiracy. The handshake to establish the FED coincided with US entry into world war one, through an arrangement by UK Shadow Bank elite and the British War Cabinet, The arrangement is the basis for what we witness now. War. Extortion, State Sponsored False Flags. All those things and others are part of a self serving War Usury structure designed to harvest every drop of value humanity has and parse that value to the conspiracy's participating accomplices
We have a simpler obvious recent example of a multi-decade extortion conspiracy: Anamorphic Global Warming.
Consider two ovens. One is vented the other is sealed and both are set to the same temperature. Most would sense the heat radiated from the "sealed" oven is more intense than the "vented" oven.
Sun is same. The sun vents through so called "sun spots". Sun spot activity measurably varies over a 22 year solar cycle. Solar max, lots-o-spots. Solar min, hardly any spots. Sun morphed to solar min in 2004. No spots at all last year. Summer was hot as shit.
Recall all tear wipe jerks and "save the glaciers" GE Foundation funded fanatomatic shills were (and still) blowing out thier ass?
Impending doom - Manhattan to be so deep under the sea that all the floating festering corpses from mass polar bear heat stroke die-offs would look like clouds above a submerged 42ed Street.
Remember? All that shit was scripted and scheduled to coincide with solar min.
The sun is why it's hot or cold. Global temperature variation correlates to solar cycle sun spot variation. Period. GE Foundation rent-a-science types spend time now trying to invent air particulate factors to weigh in a "premium" to to fuzz up the correlation. The NYT, in best audacity, published that GLobal Warming was the reason the UK turned into a cube of ice two winters back. "It cool because it hot!!, followed by the Klugs call to print to build weaponsary to save the globe from box cutter wielding space aliens that hate earthlings for their freedom (reports are some yellow cake kryptonite was transacted recently).
Not to Al "the Bore" Gores hockey stick divined pontifications from the pulpit of new age mysto-science and one time newly enjoined in law to Federal Reserve founding family, the Schiffs. But, as the hype began to break up and loose hypno-tube relevance pixels, his little ticket in, coincidentally, got divorced out of the clan, no doubt due to Bore Gore's inept Global Warm Scam performance. No Carbon Bond margin stands - no sale - no Schiff pollen. Period.
Ya gotta learn how to close Al!
Today, the only important question seems to be, "Is now the time individual investors should considering getting back into the market?".
Go fucking figure that one! Everything is bullshit.
Cadavre- you sir should post more often.
Too bad only 0.001% of the American population will ever read what he wrote. Most are busy watching American idle......when that's over they tune into Dancing with the Stars.
.....and those in power are aware of it. That's what we're up against amigos.
Now that I've made everyone feel a little better......have a nice day. :)
No kidding, I couldn't have said it better myself. I truly think that this is exactly a red herring that was put out there to give the opening of the markets tomorrow a positive start, nothing more. I can't believe that Europe agreed with this, because this essentially made them do a 180 on the deal they wanted. Now all that bluster they said and other things mean nothing if all Greece does is to say no they will balk and change. This should scare everybody, because if they are willing to give up all this just to not have them default, then the EU and the banks are in worst shape than we think. Also this is coming to the US, because If you think that JP morgan "mistake" misunderstanding of the market and loss was just that, your wrong. Derivatives are unwinding and they are running scared.
Greece is like a drunk you lent your car keys to. If you don't give it another drink, Greece will leave, driving YOUR car!
Best succinct analogy I've heard to date. Well done.
Nope mother fucker. I will be 10,000 miles away with a nice big bag of pop corn while I watch this mother fucker burn to the mother fucking ground.
+1, thank you and good night
Epic +1
Colombian Gringo
Greece leaves and has zero, or limited, suffering before life returns to normal illuminates the EU sham. Other nations would then say fuck you why should we continue to harm ourselves.
End of NWO.
Iceland already pioneered the idea, and TPTB wants them to remian an exception instead of the rule.
If you are an Irish citizen and don't feel like a sucker, then you are a fool.
They'll leave the EU soon enough.
WillBan7, trouble is the government teat is a self-replicating fractal that delivers calorieless and colourless milk.
If people say Moar, then a few Moar teats appear... it would make for a scary image. Our dearly bearded one, with a billion nipples and suckers beign born every Minute. ;-)
ori
sifting-the-sands-of
Somebody is smoking some really goood tuff right now.
suckerfishzilla
Dude he lives in India, probably malnutrition.
I wonder how long it will takes for all european countries to find out that THERE AREN'T ENOUGH LIFEBOATS!
Gold and silver are dirt cheap right now. But it won't stay that low for much longer, the real stuff that is.
no shit. talk about "the shaft.'
It's just a good thing they are not defaulting.
They're too drunk to notice.
Irish constitutional referendum on the fiscal compact coming up at the end of this month. It might be difficult to keep this new Greek development from the Irish public over the next few weeks. But the Irish media will try their best.
I have total faith in the Irish. They just really enjoyed that Celtic tiger period after centuries under the English boot. The more reality sets in the more you can expect the fighting Irish to step up to the plate.
What's so hilarious to me is all the apologists talking about the hard working German or English people (read bankers lmfao, the people of Germany and England are getting REAMED) and how they should be repaid for their interest bearing debt created from air. Meanwhile the real heros will be the common people of Ireland, Spain, Portugal, Greece and eventually even England, Germany and the US. The deadbeats will turn out to be the modern day heroes.
Deep runs the conditioning and propaganda, but time and reality will set it all straight. My sincerest hope is that the hearts of the elitists will open and they will undo what they have done willingly, otherwise things might go through one of those historical "rough patches".
Thumbs down for a post saluting the good people of various countries? Jamie Dimon is that you? :D
Me not fool William ....
Me like to give me oil (Arab oil) to China so me friends in Germany can keep selling BMWs to Whoever or whatever.
omrpublic.iea.org/demand/ir_tp_ov.pdfomrpublic.iea.org/demand/gr_tp_ov.pdf
omrpublic.iea.org/demand/eu_tp_ov.pdf The Germans simply reduced our (OECD Europe) oil ration by 1+ million B/D since Jan 2009 so that they could sell more BMWs in Asia & America. What a way to run a industrial model...... Zero sum games come to mind. The Greeks should tell those bastards they can go fuck themselves with whatever sasuage comes in handy. We are going back to Olive oil & spuds.
Goooooo Irish! I'm still waiting for you guys to make us all proud. I know you won't disappoint!
Haha, who votes down the Irish? City of London bankers on ZH? :)
That is some findings.
Any country that can produce a James Joyce has infinite possibilities (though expect a bit of complexity and imbedded puns).
As for now, how about an impromptu limerick?
There was a fine lass from Nantucket
whose favorite expression was "fuck it."
Her parents aghast,
their flags at half-mast,
they covered her head with a bucket.
WB, I believe all of the EU are feeling like jack asses right now. Its just like here in the US - you do the right thing, the goverment screws you till you capitulate. EU countries trying to do the right thing get screwed to plug the crack in the EU dam. The ones doing the wrong thing can do it with impunity.
Same stuff different people. Same people getting screwed, same politicians, bankers and dead beats doing the screwing.
The goal for the sheep: be the deadest deadbeat.
Moral Hazard -- less Morals, MORE (AND MORE!) HAZARD!
Let's look at this a bit deeper.
Item 1) there are serious billions of Euros owed to the ECB and IMF by Greece. "Haircuts" no longer are about "banksters". They hit the other governments now. Greece ceasing payments hit the ugliest of targets.
Item 2) These tranches from the EU wind up funneling about 90% of the money to service these loans. Not a hell of a lot of it stays in Greece. This means the supposed pain Greece suffers by not getting a tranche is only "supposed". The people hurt are the ECB and IMF. It is THEY who are getting smacked if a tranche doesn't arrive.
Item 3) THIS IS FUCKING GREECE!!! THEY ARE TINY!! SPAIN WILL DESTROY ALL OF THIS SHIT WHEN THEY DO THE SAME THING! Spain is going to run up a few hundred billion in bailout money from the EU and IMF and do the same thing.
Because of all this above, I very much fear the story is credible. The EU will do ANYTHING to keep this ball rolling a few more days. That SZIRIAZ guy should be wearing a bulletproof vest anytime he leaves the house. Maybe inside the house, too.
Yeah that's why all the deadbeat greek (insert any other country) people stuff is laughable. This isn't about Greece or its people its about the banks their ponzi of interest bearing debt created from thin air and their wholly owned puppet governments throughout Europe.
It's like Credit Card companies electing the head of my household which JUST happens to be a guy who works for said Credit Card companies. He then runs up my household debt on things that will eventually be repossessed (nationalization of assets eg greek islands as suggested by German finance ministry) and complains that I'm a deadbeat when I mathematically cannot pay back the debt. Thereby justifying my enslavement and that of all future generations.
Height of insanity/selfishness to buy into the whole scheme. Those cheering on the status quo are willfully ignorant.
Actually, the Greek pols and people are as guilty as the Banksters. They did buy into the scheme, they did spend zillions of debt, they did live high for years, and now they can't pay it back and whine about getting screwed. There's no good guys out there. Only human nature. Which generally sucks. There are, of course, individual exceptions to the universality of cupidity. Myself, for instance.
Oh I didn't realize the Greek people had line item veto power on the greek budget as a voting matter. Here I thought the Greek government (read banker stooges) spent the vast majority of that on the usual pork barrel projects and things like German Submarines. This "The Greek people lived so high on the hog" shite is just that, utter shite. Compared to sub-saharan African people? Sure, compared to their European peers when you consider average age of death in Greece? Not really. Just a bunch of banker propaganda.
Crash, you got this SO fucking right:
"Item 2) These tranches from the EU wind up funneling about 90% of the money to service these loans. Not a hell of a lot of it stays in Greece. This means the supposed pain Greece suffers by not getting a tranche is only "supposed". The people hurt are the ECB and IMF. It is THEY who are getting smacked if a tranche doesn't arrive."
A paragraph like this should be in every MSM article about Greece. Ha ha - you will never see this wee factoid, which is the 90% of what the whole damn 'bailout' is about. Helping Greece and the Greece people my ass. (Last number I saw on ZH was 16% to the Greek government, the rest to the EU bankers and IMF.) It pisses me off that the only damn place this obvious, blatant fact comes up is ZH.
Sometimes it amazes me this site is 'still on the air'.
Thank goodness.
"Sometimes it amazes me this site is 'still on the air'"
- that's what SOPA/CISPA/NDAA/etc. is going to fix, to correct the information the non-propaganda independent news outlets keep professing. The sheep are less nervous when CNN lulls them to sleep with lullabies of 'historic recovery' 'falling unemployment' 'job growth continuing to beat estimates' 'housing prices climbing' 'soaring stock market'.
Actually, my understanding is that NDAA is there to control the sheep when central planning eventually does fail and the major reset occurs, hence military training with police in Miami last week. Seems posse comitatus no longer applies. Scary stuff for sure.
I'm just going to put it out there again.... Ireland will pull the plug.
Just sayin'.
Iseeit.
Buckaroo - the situation Ireland is in is really sad. The Irish were so proud to join the Euro - moving away from the Punt was moving away from the Pound and hacking away a bit more at the historical ties between Eire and the UK. Leaving the Euro for them would be like moving back towards the UK. I think they'd rather be forever indebted to Banksters rather than make any move which might seem like returning to the UK- overshadowed past
The Irish were outright slaves to the English not long ago. Seems they've made little progress since then.
what's greek for "circle jerk" ?
EFSF?
Dimon?
OPA!?
Circle jerk...it's universally understood.
i'm still in the asylum..
You are number 6
The Greeks don't just get mad. They get reamin' Steven.
I am NOT a number!...
Check , and mate u bitch ass bankers....
Silver and Gold must be bought.....
Farcism bitches!
http://www.youtube.com/watch?feature=player_detailpage&v=mk7VWcuVOf0
Bravo Mr. Panos ! Never trust a Greek who is broke !
While that video is hilarious, it's pretty sick.
Dude its SIIIIIIICCCKKK!!!! Sounds to me that Panos is about spot on.
I love all the apologists for German and English bankers in this thread its hilarious. Keep on shining those white shoes guys maybe you can become an inner circle guy too! Why those parasites would never turn on you once you're no longer useful right....right? I bet employees of MF Global were singing the praises of the system up until all that money got Corzined.
Panos for president of the world!
give us this day our daily QE, BiCheZ!
i bought my mom some roses, a silver maple leaf and a 2009 1/20 lunar II ox, what do you think?
Fuck the roses.
Whoa! Roses have thorns, ya know! :>D
Epic
Sort of like banksters paying "homeowners" in foreclosure to quietly stop squatting and leave without tearing this mofo up...
"When the people find they can vote themselves money, that will herald the end of the republic" ~Ben Franklin
"When the Bankers find they can print themselves money, that will herald the end of the republic" ~Ben Franklin
there, fixed it .
When the cost of "paper" outweighs the cost of "bullshit", that will be the end of the republic ! ~ The People
rehypothedefecation is my new favorite word.
Works for me.
rehypothedefecationexpialidocious
+1 ROFLMAO !
Ultimately, it's the people who print the money. Think about it:
Obama promises more spending
The people vote for Obama
Obama promised to spend more, so he does
The fed needs to print more because Obama needs the money
And cycle repeats... this is the danger of democracy and the more important message of the Franklin quote. Downvote all you want, doesn't make it any less true.
It's a republic.
I suspect you're incorrect in your assertion that "the people" would vote for money printing in a democracy.
If you want to have a government, it's one concept to game out: give "the people" a line-item veto on the Federal budget, direct-democratic vote. It's in the budget, and "the people" can decline to pay for it, and it disappears.
See how much money still needs to be printed.
There was an economic theory in the 80s and 90s that cutting spending would lead to inevitable deficit reduction due to a lack of funds, the "Starve the Beast" strategy. However, this didn't happen. It had the opposite impact of reducing the perceived value of government services relative to actual value - taxpayers don't 'feel' the cost of the debt...at least initially. This is the theory of Fiscal Illusion.
Combine this with Miller and Modigliani's theory that cash and debt were to be treated as the same when calculating valuations and the end result is Europe and the US in their current states.
Any bets as to when California defaults?
One can only wonder to the incredible wisdom of the USA founders. They have built a very solid and long-lasting foundation for this great Nation.
Unfortunately, what they were fighting for is about to be lost in the next few years. Well, all great empires have disappeared and America is not an exception.
You're fucking retarded if you think America is anything but a fascist totalitarian military empire. The Anglosphere is all one big global military empire.
Freedom and democracy have been lies for your entire life. You just didn't know it. Somehow, despite access to the internet, you still don't know it.
give these banksters the finger. walk away from the fraudulent debt. good god almighty, please end this.
they are hooked on getting the finger and giving it back; no inhibitions if you want to be a trader.
I'm with you. I feel like this saga is never-ending. Pretty soon loan terms will be extended to 2025, then 2035 and then most people who started kicking the can will all be dead by the time it's realized they should have just defaulted and moved on.
Payments to the Greeks are being withheld, but the agreement is going to be re-written and support the unions that are the source of this mess? Sounds more like a politician leaking headlines to start rumors to win votes.
Those "payments" to the Greeks mostly flow right back out to service the loans. Damn little money from a tranche stays inside Greece.
Threatening to withhold a tranche is no threat at all, and that's why the Troika are starting to stain their underwear.
Here, I'll give the Banksters 2 fingers for you.
‹^› ‹(•¿•)› ‹^›
(0Y0)
What's that sticking out from between her boobs?
/s
"...and down the strrrretch they come! it's all Fungicide today, racing fans!"
Those EU banks must be in real trouble...
Yep. Bingo.
No. That's a statement about 6 mos old.
The PSI deal ended the banks involvement.
Now it's the ECB and IMF. It is THEY who get stiffed if Greece says no.
Those EU banks must be in real trouble...
No worse than ours, just more open about it.
But, your dead on, they are willing to do anything to STOP a Greek exit,for fear of a pandemic spread.
In the current world crisis (economic and political) its incredible but true origin must finally be faced or real reform will be impossible. The massive debt, the slide into welfare states and the shift to outright control of nations by international bankers is not accidental:
IT WAS PLANNED.
The Federal Reserve plan, implemented in 1913, was to use the banking system to take over the politics of the world; politics means the countries’ governments whether they be a dictatorship, a parliament or a congress. Each is a different approach, some dictators you award a Mercedes and walking-around money; to influence others such as China is more complicated. Kissinger was the banking system’s point man to bring China into their fold.
The Fed founders started this ball rolling prior even to picking Woodrow Wilson for president; they knew that when they selected Wilson he was dumber than a stone and could be used to engage their lucrative Fed-funded first world war. Wilson thought he was a patriot, a citizen of the world who could fix it. He was dumber even than Obama. No one was more perfect than Wilson, for he was enthusiastic about it…until his deathbed. Then, it was too late.
After the war, Wilson argued for the bankers’ new world order.
And now the ball is hitting the wall; they’ve come all this way and it was too big for them. They couldn’t make it work.
JR that's way over the head of most of the apologists in this thread. Your correct view of history is a direct affront to their personal profit off the system. I don't understand how folks can simultaneously call for a free market, and then blame lazy Greeks, Irish, Spanish, American etc. as though those people weren't lured into a debt based system of fraud whose complexity is staggering. The only thing more staggering than the complexity of the fraud perpetrated upon the world via Central Banking, is the outright refusal of well educated people to examine the facts in front of them and draw the obvious conclusion and follow that up by withdrawing their support of the system. Nope, better the world be in shackles (and eventually me too!) than I give up my Jaguar now. Lol.
Its the classic dichotomy in strategic complexity of a man created system. Financial, Legal, Religious.. its all the same in that they all require faith to exist..
Change your mind and free yourself.
I appreciate J.R.'s history lessons. You read like the problems source! You put too much faith in your technocratic cranium.
Quit dealing " pink slime" , and go for a walk on the beach!
I go for a walk on the beach and I see the sun rising from the ocean and it sends a ray of light to me. I feel enlightened and absolved of my sins. I feel inspired, and realize my place in the universe; and am humbled.
We are nothing but flashes of light in the infinite darkness of the void we call the universe.
It's called " Human Nature"... Taking the path of least resistance. trading the trend. ECT>...
Why would you own a Jaguar? TATA in India owns Jaguar. It must be an old XK.
The evidence now is clear that the shift is taking from the middle classes and bringing it to the pockets of the international bankers. Hopefully, Bring the Gold, as more and more see and feel it, their support of this fraud will be withdrawn.
In Col. Elisha Ely Garrison's book Roosevelt, Wilson and the Federal Reserve Law he said that Paul Warburg wrote him on February 8, 1912: “I have no doubt that at the end of a thorough discussion, either you will see it my way or I will see it yours—but I hope you will see it mine.”
This was interpreted as a veiled threat by those congressmen Warburg secretly lobbied to support his interest or, as many politicians have found out later, large sums would be contributed to their opponents at the next elections and they would go down in defeat.
Senator William J. Stone (D-Missouri) provided examples of threats and power of the big banks in his testimony during the 1913 congressional debate prior to the passage of the Federal Reserve Act:
"The great banks for years have sought to have and control agents in the Treasury to serve their purposes. Let me quote from this World article, ‘Just as soon as Mr. McAdoo came to Washington, a woman whom the National City Bank had installed in the Treasury Department to get advance information on the condition of banks, and other matters of interest to the big Wall Street group, was removed. Immediately the Secretary and the Assistant Secretary, John Skelton Williams, were criticized severely by the agents of the Wall Street group…’
"I myself have known more than one occasion when bankers refused credit to men who opposed their political views and purposes. When Senator Aldrich and others were going around the country exploiting this scheme, the big banks of New York and Chicago were engaged in raising a munificent fund to bolster up the Aldrich propaganda. I have been told by bankers of my own state that contributions to this exploitation fund had been demanded of them and that they had contributed because they were afraid of being blacklisted or boycotted. There are bankers of this country who are enemies of the public welfare. In the past, a few great banks have followed policies and projects that have paralyzed the industrial energies of the country to perpetuate their tremendous power over the financial and business industries of America."
Please allow me to simplify the complexity with two charts:
Debt Money Tyranny
http://www.keepandshare.com/doc/3325954/debt-dollar-tyranny-2-54k?tr=77
Weapons of Mass debt
http://www.keepandshare.com/doc/3324744/wmdebt-graph-3-79k
Please send these links out to all who might want to know how the system is actually pillaging the world.
For those who want a play by play of how Debt Money Tyranny works
When Money is Debt; Wealth is Poverty
http://www.extraenvironmentalist.com/blog/2012/03/31/money-debt-wealth-p...
BTW, the point is not to blame the wealthy for inflicting poverty on everyone else (which *is* what happens when money *is* debt), it is to properly place the blame on THE ARCHITECTS of this FRAUDULENT TROJAN HORSE, SOCIETAL ASSET STRIPPING SYSTEM and those who KNOWINGLY support this EVIL.
If you are rich, but aren't controlling this system, you aren't at the dinner table, you are on it. THE ARCHITECTS just haven't seen fit to skewer you... yet.
The time to expose and resist this evil is now... not after you are impoverished and your children hungry.
I'm rich as a mf'er!
Rich? That's sure not me.
I was thinking of a vote in response to the idea, which I agree with 100%:
If you are rich, but aren't controlling this system, you aren't at the dinner table, you are on it. THE ARCHITECTS just haven't seen fit to skewer you... yet.
Totally agree, but this plan did not start with the Fed. The roots of this financial power play go back into the 18th Century.
Rockefeller, Morgan and their Wall St. buddies wern't smart enough to think of this on their own.
Right. Who sent Warburg to the US in the first place? This stuff is not that hard to figure out.
The New World Order is simply neo-colonialism. The "ruling class" will not be traditional colonial powers, united by nation and race, but a diverse elite consisting of persons from around the world. The belief is that the peasantry will not revolt when the ruling class partially represents them in racial terms.
The flawed model/premise is of perpetual growth on a finite planet. Trace this to its origins and I'll bet that you'll find that it pre-dates the Fed (which is only one in the line of long perpetuators of this long-running Ponzi).
IT WAS PLANNED.
_______________________________
At best, they tried to balance the Ponzinomics enabled by US of A during the nineteenth century.
It allowed US citizen middle class to keep living the dream, living off the rest of the world.
But when the physical starts to lack, it is hard to compensate or ignore.
Bankers, as astute as they are, can not do that.
Don't you have any financial blogs in China?
Let me give you a tip: start a Chinese edition of ZH and if you escape from your house arrest you can always go to the nearest Embassy and ask for asylum...
He could also go to the nearest asylum and ask for embassy.
IT WAS PLANNED.
Tell us something we DIDN'T already know.
and this stay of execution will help the Greek people how?
Exactly right, Markar, a stay, not a pardon. All this does is keep the condemned prisoner strapped to the gurney in the execution chamber for another year. And, if I may make a prediction, in one year the phone in the little room will ring once again, with yet another call from the governor.
This whole plan is a nearly perfect definition of "kicking the can."
what if greece says: "no thanks. i am leavin, or kick me out. both are the same to me. i dont care. here's what we greeks need to get our economy going...if we stay...
once one blinks, its only how kind the non blinker wants to be.
o/t this may be enough news to distract jpm attention some. if greece said yes tomorrow, 'europe' goes away long term worry list, 1 year at least. everybody happy. stocks rise; jpm does not fall as badly as yesterday.
By pushing off the eventual collapse until past the US Elections, stoopid!!
Then as Obama told Putin, he will have 'more flexibility, and can print however much he wants to.
FORWARD TO THE SHINING PATH!!
And so on and on its goes, with more twist and turns, the ending has been written though and can't be avoided but how long can the masses stand this shit.
Who cares? Risk is So on monday.
Buy buy buy at the open
Moving investor debt sideways into soverign debt is working out really well.
<sarc>
The Portuguese, [Spanish], and Italians are watching with "BAITED", breath, whilst they play the "Devils Advocate".
The European banks are just ponzi sovereign fronts, and everyone knows it!
What everyone knows is that the sovereigns are just ponzi bank fronts.
Hey now, Grandpa Warren is footing the bill to keep the AVON ponzi business a goin'. Those new jobs/ponzi money created will be rewarded by riddin on a choo choo train.
One year?? We will most assuradly be back here again within 3 months!!
kick, kick the can as Hollande is not far away; cheese!
mmmm
canned cheese...