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The Tyler on duty is a real censorship beeeeyotch!
Erase this comment too, bitch.
"Collateral. You keep using that word. I do not think it means what you think it means."
As for poor Finland:
UK of 386% GDP.
-- Game Over --
The enemy counterparty of my enemy debtor is my friend lender.
Some additional information that just say it all. External debt to gdp:
Ireland 1106% of GDP
Protugal 240% of GDP
EU and any Euro project is hopelessy doomed.
Now look at the 'third world':
China 5% of gdp
India 21% of gdp
as a note. USA is not as good as the 'third world' but is in 'okey' condition:
USA 99% of GDP
Source: CIA, Eurostat, World Bank, US Treasury.
These national debts are missing one key component: creditors!
Why do I get the feeling that it's all owed in one massive hazy debt circlejerk with no actual net creditors?
Seriously. We know China has ~3tn in foreign cash equivalents, yet they owe 5% of their GDP.
Is this all just a giant scam? If all consumers are in debt, and all governments are in debt, and most banks are undercapitalised, WHO's it all owed to?!
It's elementary my dear Watson, the Central Bank Cabal but not through direct money, money as you or I see it but through debt slavery
It's not about the principal it's all about the interest, Central Banks lend to each other the obligations of their citizens, effectively selling taxpayers into slavery of other central banks
It's an extortion mechanism, since the average person and even the governments have no control over what central banks do, they have a card blache
How to rule the world in 5 easy steps
1 - create a debt based monetary system
2 - make sure all central banks are 'independent' as in independent of the people they are supposed to steal from
3 - start lending money to 'other' central banks thus indebting the people without their consent and to be able to charge interest
4 - have the people accept inflation (even at 2%) as good and necessary, as inflation is a liability to the people but an asset to the banks
5 - squash any public or political dissent through black-mail, bribes, entitlements, and if all else fails war
And you forgot:
6. Assonate any President or country leader that wants to remove a central bank or their currency/debt scheme.
Your comment's cool and all until you get to this part:
Source: CIA, Eurostat, World Bank, US Treasury.
You mean to tell me that you believe CIA Eurostat WB UST would not tell the truth and nothing but the truth? Anyway it is the only thing I can provide at the moment I am trying to find 'other' sources.
There ain't a dollar in circulation today that has not been loaned into existence.
Don't worry. Those dollars are backed by people paying their interest... in more dollars.
External debt (or foreign debt) is that part of the total debt in a country that is owed to creditors outside the country. The debtors can be the government, corporations or private households. The debt includes money owed to private commercial banks, other governments, or international financial institutions such as the IMF and World Bank.
I knew there was some reason for the merger.....now they call it a brand new bank..all is good...take our paper...lol....and they will...that is what is sad....
Ponzi squared. I like it.
Collateral gummi bears, bitchauuuz!
Ironically similar to having convertible bonds in the first fucking place.
In Philadelphia, Its worth fifty bucks
Bill: You hocked a Hattori Hanzo Sword? Budd: Yep. Bill: It was priceless. Budd: Well, not in El Paso, it ain't. In El Paso I got me $250 for it.
wow, funny to see that. I just watched the dvd the night of 'Irene' to pass some time...great movie!
Well, logically speaking, if you're going to give them bailout money, you're assuming it's going to work. If that's the case, why wouldn't Greek bank collateral be sufficient? Refusal to take that acknowledges a belief that the bailout will fail.
A demand for gold is as good as saying it's not worth doing in thefirst place (which it's not).
Not demanding collateral seems to be the most optimistic case...but politically perhaps the Fins can be convinced by this scheme.
The German have gotta be thinking they'd get the same treatment as the Finns if they backstopped Europe and all the PIIGS. This little ditty is their future. Run away! Run away!
Things would be so much easier for the EU if they booted Finland...
Rename Iceland Niceland
Rename Finland Not Niceland Bitchez.
I try to explain these macro-economic events to people and they still fail to comprehend how disasterous this will wind up being. So long as they can still get a their 99 cent hamburger everything is just fine and dandy.
All of these bailout packages in Europe are using toxic assets as collateral while the interest rates on the loans makes it mathematically impossible to pay back. Then toss in the derivatives market which is a black hole of debt. The coming collapse will be magnificent to watch. Way better than the final scene of Fight Club.
...And hopefully without a spliced image of a penis.
I'm sorry could you repeat that. I was reading a tweet about Lady GaGa dressing like a boy. Can you imagine?
Greek banks will be partially nationalized
Greek banks will be partially nationalized
There goes todays bank rally for the Greeks :)
I wonder why they don't let Lehman finish the deal....
Who would want physical gold as collateral when you can have insolvent greek bank shares??? HELLOOOOO? /sarc
At least Europe will be true to its socialist dreams. Bank nationalizations are just a logical step for this fucked up continent.
And the US banks are.......... Not nationalized??? Come on! Public liability private profits, the US banks are the most nationalized fraudulent banks on the planet.
Well, except for all of the rest.
That's an half-truth. Most US banks were not nationalized before the 2008 bailouts. But I understand your point.
For those who held on to their shares; rumor is they will also allow Lincoln S&L stock to be put up as collateral. <sarc>
I find this pretty funny. Offer shares of insolvent banks as collateral, grab the bailout money from all the suckers, then watch the banks fail anyway, and hand over ownership of the lumps of shit to the same suckers who bailed you out so the big black hole becomes THEIR problem. ROFL!
Beware of Greeks bearing gifts!!
I have a better idea.
Offer Fins free accommodation (and maybe flights) to take holidays to Greece during the winter as collateral. That's something Fins actually WANT because Helsinki truly sucks in the winter, plus it gives Greece a chance to earn some euros as Fins spend on food, sight-seeing, etc. I wish I was joking but let's face it, such a stupid idea is infinitely better than what's actually being considered right now.
Add one greek slave to take home with them and you've got a deal.
Modern day Trojan Horse? Only one thing... is anyone stupid enough to accept it?
Trojan Horse, exactly. And knowing the Greeks, they've probably bought a whole stack of CDS on those banks so they'll get to have their cake and eat it too. Haha, I admire their gall.
Never underestimate the stupidity of politicans.
I know, I can see it now: "Well... this time they provided us with collateral.... so... yeah. Let's do this."
And even better:
Of the EUR109 billion expected to make up the euro zone's second rescue package for Greece, at least EUR20 billion is earmarked for Greek banks, according to Handelsblatt.
With € 20 billion earmarked for Greek banks, about 20% of collateral offered is in fact the 20 billion coming from the of rescue package itself.
Happy donkaments everybody, let's go all-in with 2-7 os preflop
There are no tango palaces in Greece. Finns won't go there.
My favorite thing about this website is Tyler's acid sarcasm. Brilliant!
Let's see what happens in Finland if the eurofanatics agree to accept the equity of the insolvent banks as collateral. The anti-euro True Finns, who made it big in the recent elections, have been getting even more support after they refused to be a part of the "eurofanatic government". According to every single poll AFTER the decision NOT to join the government because of the irresponsible european politics practised by the National Coalition, True Finns have been the biggest party in Finland. The leader of the party, Timo Soini, is calling Finland to stop the bail out madness and just say no to all bail outs and especially the Greek #2. If the government accepts this my bet is that they won't survive untill christmas.
I sure wish I came up with a solution like that for the bill collectors that keep calling.................... wonder if it would work?
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