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Flowcharting The Eurocalypse
We have laid out in great detail over the past few months the contagious paths, game-theoretical endgames, and transmission channels that would occur should a nation (Greece for example) leave the Euro. Yet the covered matter is not simple, which is why sometimes the best representation is the visual one. The Financial Times has outdone themselves with the best graphical (and audio walkthrough) representation of this process. From the collapse of the domestic banking system (and its possible social implications) to the creation of a new 'local' currency absent foreign capital aid, to the obvious 'who's next?' question that leads inevitably to exaggerated bank runs across other weak European nations and ultimately more pressure on already weak economies to exit the Euro - hastening a wholesale Euro-breakup. Eurocalypse now indeed.
Source: The Financial Times
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Cartoonish.
I sure as hell won't pay either.
I got this. Check's in the mail.
- Ben S. Bernanke
- Angela S. Merkel
I think there is one glaring error in the charts. "We wont pay" should read "We cant and wont pay".
Just like with any totalitarian (or oligarchical) system, there is a sense among the population that we NEED the caretakers just as much as the caretakers believe that we NEED them. It is perpetuated by the Hegelian Dialectic, but it is an unhealthy circle of dependence that is not necessarily real (think Stockholm Syndrome). It is perpetuated by both sides for failure or unwillingness to look outside the cycle.
Greeks will break the cycle once they are able to see and believe that, while breaking the cycle will be messy, chaotic and yes, perhaps painful, it is best (or a matter of survival) to seek solutions outside those provided by the caretakers. When they refuse the debt-backed solutions of these caretakers, it will represent their first positive step to break the cycle. The breaking of the cycle will not come from the caretakers.
I think it is "they won't pay". Basically, the Greeks could all actually start producing stuff other nations' want, while the populace suffers as debt slaves under the whip of their debt masters in order to meet their debt obligations.
Who wants to live under that? Especially when you know, if you are one who actually produces something, that the arranged payment structure coddles as much as possible the politically connected deadweight structure that needs a lot more austerity than it's getting??
Meanwhile, the unions and government workers refuse because they're all delusional and think they actually have some clout.
It's tough to assume logical flows of action when the finances of the world can be impacted in a moment's notice by a handful of central bankers performing "coordinated" action.
Solving debt problems with more debt creation and shuffling sounds very cartoonish as well.
Thank you!
Like "Fritz the Cat"
Bullish!
They missed the part showing bankers hanging from lamposts!
It befits the scenario.
Are russian missile tests priced in?
"In Russia you not tests missiles. In Russia, missiles test you."
I would have expected more from the FT....did they go tabloid while I was otherwise occupied?
The British one did, yes. Seems you've been occupied the better half of the decade.
"Eurocalypse". Love it.
"Eurocalypse"? Is that like more brutal than a "Metalocalypse"?
Fucking get this sshit over with, if I were to put my bet on whether Greece exits or not, I would say this shit will repeat in an episode in Sepember. I feel like I'm watching a rerun of Lost year after year
http://wheninfinance.tumblr.com/post/23613535725/whenever-there-is-a-euro-g8-xyz-summit-for-leaders
They're all already dead!
Gold revaluation coming soon....
The windfall profit tax is gonna bite even more if the revaluation happens from $1000 than at $2000 though
I thought WB made this! LMAO
That's what I thought. I wonder, how much for this fine board game?
This is like giving me a complete chemical description of how the lethal injection is going to kill me...
~~~
Just stick the fucking needle in me & get it over with...
Greece is merely the scapegoat.. As the printed ponzi props fail across the globe and economies retrace their trail back into the Abyss, little ol Greece with its 300bl in euro debt is going to take down the system? LOL If you want to know the real truth just forget about Greece and look at the 700 TRILLION DOLLAR DERIVATIVE leaning tower of ponzi...
Nothing to see here. Move along please. Look! A drachma!
It just makes more sense for Germany to leave the Euro and set the mark close to the british pound. Then the rest of these countries can stay in the Euro and push the EURUSD to 0.75 or below. Germany has the resources and will to recreate their currency and distribute it in an orderly manner.
Then, NL, FI and A have to leave too, else they will have to hold the bag full of dog poo, just, that in this case, the bag will bury them with a brown mass and they will be screwed too so if there's a FIGANL EUR exit, we'll be lucky if the EUR is as stable as the Zimbabwe dollar.
When Germany goes back to the DM they will only transform into the new DM deposits of German residents/companies, thus minimizing the target 2 impact.
Where's the big circle that says:
Citizens re-examine what purpose they expect government to serve, at what price and under what conditions
The FT couldn't even begin to conceive that the 'citizens' have any choice in the matter.
all we need now is for Apple to have a bad quarter, and presto, kaboom!
dupe
1 can't pay 2, 2 can't pay 3, ...... 999,999,999 can't pay 1,000,000,00,000.
Collapse. no?
Translation: A bunch of bankrupt countries all owe each other money.
The entire system is AIG on a macro scale... no one can pay anyone else unless they get paid by someone who can only pay if they get paid by someone who can only pay if they get paid...
But don't worry they have all "managed risk" with CD swaps
Where have you figured in the inevitable military coup?
William Banzai7 would have done a much better job.....
Exit ramp?! Where's the exit ramp?! LOL!
its on page 2.
[bailout] -> [rainbows and unicorns]
[no bailout] -> [bad stuff] -> [terrible stuff] -> [stuff you absolutely do not want] -> [worse stuff] -> [chaos] -> [apocalypse] -> [everyone you care about dies]
So, where do you stand?
[ ] pro-bailout
[ ] anti-bailout
<-- Pro-bailout
<-- Anti-bailout
For real? Damn, how about one for "Don't Care"??? But I didn't junk you though. I am still laughing my ass off to your ingeniuty!!! For Real!!!
Cheesy Bastard's idea about a year ago actually. Used to be pretty vogue.
Most folks don't know that Cabin in the Woods is just an allegory for the banking system.
i still wonder whether the resulting political tensions would also lead to a breakup of the eu?
Very nice chart. But it should be rearranged to look like a mushroom cloud.
Does Greece still own its gold reserves? I havent heard much about the gold reserves lately?
Moe, Larry, Cheeze.
They missed the part of countries getting drone's attacks and other nice war machines dropping bombs all over their citizens, industries and infrastructure.
I'm sick of this shit. I think I'll spend my savings in hollydays somewhere far, somewhere wild. Fuck those subhuman banksters, fuck them all.
All this unnecessary fiscal destruction. If only the U.S. Free-Market-Capitalist-System had played by the rules and let the "TBTF's" fail. Surely, the U.S. Bankruptcy Courts could have by now, unwound all the unknowns and brought about closure to this ungodly travesty. Unfortunately, as the CB's logic has it - saving the minority [when it's the elite minority] rather than the whole, has now metastasized a monetary cancer upon the entire global free markets!
Question: How is it that the 'Supreme's' Supremacy Court's haven't chimed in on a non-elected FRB Entity that literally and subjectively controls the countries fate? Oh! I think I've answered my own question. That being it would be a conflict-of-interest knowing that the Supreme's are a non-elected entity by "Special Interest". Quite nice - this Federalist Party?
Greece will never leave the Euro. Germany will leave first. Believe it!!
How many welfar deadbeats have ever volunteered to give up the dole?
You can't "leave the Euro" anyway. To get out of the common currency system one has to leave the European Community and become something like Switzerland with Leprosy and HIV thrown in for good measure. If the rules weren't like that Greece would have sent to hang out and dry years ago. It's like talking about "California leaving the USD".
Prepare for Spaxit, Italixit, Porxit, Franxit, Irisxit as well...
It's all rather drachmatic.
And still I would miss the Euro a bit. Crossing the border to get some Belgian chocolates and some dope from the Netherlands has never been easier before. Of couse we could always agree on using Silver and Gold for that kind of transactions.
I never saw so much hand-wringing over the shape of ink spoots on paper in my life...
I never saw so much hand-wringing over the shape of ink spoots on paper in my life...
You'll note that fear-mongering FT put the "Move to restore national currency" very late in the default sequence. If it's done early and in an orderly fashion, the negative effects are more muted. But, of course, FT being a mainstream financial media rag wants the Greeks to fear the right thing to do (tell the EU banks to get stuffed like Iceland did) which would, in the long run, be better for them, but far worse for the banksters.
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