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Greece Announces Troika Call Is Over - Announcement Expected Shortly
Update 2: here comes the rhetoric:
- Greek finance minister official says Greece is close to a deal with the Troika
...and back down:
- Greek finance minister says some work is still needed to quantify measures
Update 1: Sigh, looks like just more talk:
- VENIZELOS, EU, IMF CONFERENCE CALL 'PRODUCTIVE,' MINISTRY SAYS
- GREECE SAYS CALL WAS `PRODUCTIVE AND SUBSTANTIVE DISCUSSION
- VENIZELOS, EU, IMF TO HOLD ANOTHER CALL AT SAME TIME ON SEPT 20
- GREECE SAYS CALL WILL BE REPEATED AT THE SAME TIME TOMORROW
- GREECE SAYS EXPERTS TEAM TO ELABORATE FURTHER ON DATA TOMORROW
Wonder why the EURUSD melted up in the past hour on no news? Perhaps it has something to do with this:
- GREEK FIN MINISTRY SAYS TROIKA CONFERENCE CALL OVER, ANNOUNCEMENT EXPECTED SHORTLY - RTRS
In other news, all previous 'statements' from Greece and the EU that this call would continue into tomorrow, or later, and that no statement would come, can now be assumed to have been yet another batch of innocent and well-meaning lies.
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Greece is the word...
Greece conference call summation: Long Jawbone, short Private Parts
Anyone notice that Christine Lagarde puts Angelo Mozillo to shame in the fake-suntan department.
http://www.youtube.com/watch?v=ZN7DFPVz0qw&feature=related
China offers to buy Greek debt
Uploaded by AlJazeeraEnglish on Oct 3, 2010 <---------------- see the date? Thanks.
China has offered to buy Greek government bonds, in a show of support for the country whose debt burden pushed the euro zone into a financial crisis.
Wen Jiabao, the Chinese prime minister, made the offer before Greece's parliament on Saturday at the start of a two-day visit to the country.
But his offer has also called into question China's own financial policies.
Let us hope that the western alliances are not so stupid or desperate as to sell their souls to the yellow menace.
We think too small, like the frog at the bottom of the well. He thinks the sky is only as big as the top of the well. If he surfaced, he would have an entirely different view.
Mao Tse-Tung
must be the brilliant work and stunning connections of MHFT
GREECE SAYS: `BUNGA-BUNGA either on 20th or 21st or later'
My Big, Fat, Welfare State, Cradle-To-Grave Benefits (retire with full pension at age 22; 2 government workers for every 1 private sector employee), Which All In The EU Expect As A Birthright, Greek Debt.
Again, its amazing how the underlying problems are NEVER addressed! And isnt this the perfect example of just why socialism can not work? Oh the 'retire at 22, 6 months paid vacation, cradle to grave total life coverage as a European birthright' may work, for a WHILE....but then when the system collapses and you have to take it away, the people then go NUTS on you!
US equity market credibility is, right now, committing suicide. ES, 100% electronic [not manual] jerk off fest is an absolute guarantee that the equity market will fail here.
But I am sure that, any minute now, Mary Schapiro is going to step in and demand market credibility, along with Larry Fink's demand that people are "forced to invest."
Gordon Charlopp tosses his cred on the fire again citing a rising market on "a little bit of good news."
Good lord.
Magic bid lifting selling now complete. Garden variety selling takes over in equities.
Will the natural forces of supply and demand actually cause the market to fall back? Stay tuned.
Abby Joseph Cohen can see spooz 1450 from her front porch.
Fuck that! They roll her out when the market tops, every fucking time
YES the media will soon DEMAND 'market credibility' be restored immediately! Again. I remember that used to be one of the chattering chipmunk Erin Burnetts favorite topics when she wasnt outside riding the Wall St bull for amusement.
she's hot.
--Frito.
Market credibility...yes...yes.
If that is desired, arrest warrants should be issued by the Justice Dept. for firms currently trading AMZN. One of the most profitable, bid lifting, option selling, price fizzy lifting drink operations I have ever seen. Two days and bam...weath effect.
Do Wall Street firms know that even average Joe has tools to see these very special equity crimes now? Do they know they cannot simply say "DOW up 100 pts." on ABC Nightly News and expect sheeple to come charging in to buy tops?
And what is Mary Schapiro's excuse for not seeing what I am seeing? Seriously, what does she do all day?
Maria "I lost my curiosity years ago" Bartiromo is very impressed with the bullish market action at the close.
Amazing how the underlying problems are NEVER addressed!!!
And there you have it, the mismanaged money train afforded the incompetence to morph into/to become the system, now the feared unwind into (gasp) responsibility,
with half assed props.
American Autumn...
both the greeks and americans are iddicted to bumming, lacks of ambition.
http://covert3.wordpress.com
Getting ever closer to that "moment" of truth!
I see theyre running out of carrots on sticks to drive the world markets, this one looks like an old potato on a stick.
More like a sponge on a stick.
buy buy buy ???
ummmm...I think I'll just stay with what I got
no kidding, vote!
buy, sell,hide, WTF.
thank god ive got my dimes....
From update,
how do you keep a turkey in suspense?
BIG SIGH!!!
Default bitchez?
The meltdown may commence. Ouzos on the house.
WHAT MELTDOWN??????????????WHERE????????????????ENOUGH OF THIS SHIT ALREADY!!!!!!!!!!! THESE F-CKERS ARE GOING TO DRAG THIS OUT TILL ETERNITY!!!!!!!!!!!!!!!!!! NOTHING HAS REALLY CHANGED!!!!!!!!!!NOTHING!!!!!!!LOOK AT YOUR DAMN WINDOW!!!!!!!!!!!!!!!!!NOTHING!!!!!!!!!!!!!!!!!!!!
ahhh, better....
AAPL leads the way as a cash management alternative. The ultimate flight to safety!!! <sarcasm>
Exactly. We now witness another market meltup while paper PM's meltdown and oil falls to a more manageable 85 (of course ignoring that Brent is still above 110). This all is par for the course (rinse, repeat) as I have said before:
r101948
Mon, 09/05/2011 - 12:52
I don't like it but watch out for TPTB selling paper gold to prop up market tomorrow. Another paper gold -100 day. Just like before.
Fri, 09/02/2011 - 09:59
I don't like it but, as I said elsewhere, the TBTF's will sell their paper PM's near the near term top and then prop up the market with the proceeds next week (maybe sooner).
r101958
Mon, 09/12/2011 - 16:22
"How many times can the idiotic market keep falling for the same old rumor over and over and over again?"
In a nutshell, this is the forte of D.C. and the Financial elite. Create perceptions. It will be successful as long as there are those that are even slightly more inclined or invested in maintaining the current paradigm. Indeed, it is the same situation, when we believe there is no correlation between a drop in paper PM prices and a 'surprising' rally in the markets. Watch, again, as paper PM prices are 'allowed' to appreciate for a couple of days only to be sold down so as to prop up the market again shortly thereafter.
r101958
Fri, 09/16/2011 - 11:31
".....Why? WTI/Nymex broke $90 for a little while and then retracted. You watch, whenever it gets close to $90 there is suddenly a break lower...all this while Brent stays above $110. $90 resistance?...my arse."
All this means is that you must follow your own thesis. As scary as it may seem (like when gold drops $100 in a day). This is a consolidation in an uptrend and Gold is used as a quick cash dispensary as needed when USD are tight. They obviously are which is why we may see even more USD upside (unless FOMC changes things again). Last week's swap lines is all in preparation.....In either case, you either have enough PM's to survive or you keep accumulating until you get there. As for Oil, well there's just not enough, period.
if there are money makers then there are also money losers.....somebody is getting pillaged somewhere.....so that the TBTF's can stay afloat. Probably, the pillaged are the taxpayers.
its my fault i short oil at 90
Relax....everything is under control....
Nothing to see here...move along sheeple...
"I just called to say..."
"Relax don't do it
When you want to go to it
Relax don't do it
When you want to come"
The weather here sucks... Hope atleast Greece can put smiles back on our face. Come on Pap do it....
Tyler... In other news:
Venezuela To Ban Gold Export; State To Hold 55% In Gold-Mining Ventures - DJ
Good luck to all you mining equity "holders." You're gonna need it.
The 'gold mining stock' trade never made any sense to me. If you want gold, buy gold coins and keep them in a safe.
be careful with those coins, dog,
i was talking with some vets about a MINT they found 'overthere' in the beginning of the war. makin' counterfiet gold coins.
that plus all the counterfiets coming out of china, at least according to my coin dealer... $1800 an oz. is a big mark up on tungsten gold plated coins.
thats why i go for dimes, junk dimes.
be careful, bro.
Thanks, well aware and been buying gold and silver for years.
Sure there's counterfeits and people pushing collectible coins over bullion.
Research and know what you're buying before hand.
I love junk silver silver too. It's still a treasure hunt when I get my hands on old coins in a jar.
<---Buy the Rumor
<---Sell the news.
<--- KIll them ALL!
<---- Kill You with Them!
Need clarification on "You". Is that meant as you the reader, you the poll poster, or you Doc Smith?
nevermind it's just those silly siby mushrooms from ocala talking
lulz jdub I laffing
Blabla, we are on track, it was a constructive and vivid discussion, blabla, we will work through this difficult time, we will all come out stronger in the long run, blabla
Damn, you guys gotta admit I literally NAILED this! I called the shot today!
Congratulations! Your grasp of the obvious is an inspiration to us all.
http://www.youtube.com/watch?v=T3fOuFjOeYs&list=
Natalie Merchant ? Which side are you on? | (Lyrics) HD
Poor Folks dont have a chance unless they organize!
Greece is selling all intellectual property rights to the recipes for ouzo and saganaki to Nepal & North Korea for 20 trillion EUR.
opa!
Thing is, you can't eat IP.
If you can eat iPad2, you can write IP down on index cards and eat them.
conference call ended... announcement will indicate due to security concerns communications will proceed via morse code flashing light and project a conclusion to talks no later then dec. 13 2011.
That will be all.
Conference call regarding Greece has ended, where words describing hypothetical (but impractical) solutions were tossed about, with Greece being among the smaller of the PIIGS+France+U.K.+China+U.S., and in the meantime, rioting breaks out in many regions of Spain & Italy, while China supresses news of its own domestic 'troubles,' and French merchants/cabbies/truck drivers strike en masse (and municipalities all over the U.S. sell themselves to private banks).
So, does the mean it's serious now?
"When it becomes serious, you have to lie." -- Jean-Claude Trichet
That would be yes.
Would these guys just fucking hurry up and default already?? I haven't been this fucking bored of suspense since the last Lord of the Rings movie!!
not until whatever distraction they are planning to divert attention is ready... must be very soon though.
I'm thinking the distraction will be no QE3.. then as the market is tanking they can default and blame it all on the beestank.
Nice contemporary icon btw... (Pink Floyd - Saucerful of Secrets) think it came out the same year as Captain Beefheart's Trout Mask Replica....
Nada new. Time for Michelle Caruso Cabrera to go out and get some ass.
I think they found a way to last another couple of weeks.... just enough time to organize and steal as much money as the bankers can, before default.
If one were of a suspicious mind one might think that the real negotiations are occurring between French and German banks and their respective governments.
The Greek "negotiations" being a distraction.
Now if I was a citizen of Greece....and I wanted a new car..or TV....would I buy it now or wait until I knew what the hell was going to happen.....it has to good for sales tax revenue...and business....and they have to be running the banks...who would want their cash in a bank right now..
so now they will tell the truth, or they will tell the world that they had great souvlaki and gyros for lunch and the decision will wait until after chairsatans lies?
The nice thing about the internet is that we can read between the lines faster than they can write them.
There must have been a time-out ceiling on the Reverse Charge to Greece. Either that or the operator wanted payment in U.S. $ and they didn't have enough between 'em.
Troika might be over. Now get ready for perestroika!! ???????????!!!!!
Announcement: tomorrow another day of talks.
Time is short...
Does Greece have 770 million Euros to avoid default?http://www.zerohedge.com/news/september-20-greek-default-day
If not, they'll get them from the ECB. No Armageddon.
Yes, there will be another phone call sometime tomorrow, to drive world markets.
Trying to resist the temptation to post "What the FUCK happened to GOLD today?"
Nvm-- just failed.
My guess (not that I'm much good at guessing) is that they hammered it down because the default will send people running to gold, and they don't want it back over 1900, making new highs, challenging 2000. Plus there are gonna be a lot of newbies thinking about gold because of recent press coverage, and recent revisions of price targets for gold, and all this volatility will scare a lot of them away.
i can't believe im saying this but you might want to thank the bernank for keeping it cheap as long as possible. not much time left though
No doubt the central banks do not want Gold to break away from their control.
However.
Greece cannot repay its debts.
You don't sack 100,000 government "workers" and slash pay and still have a functioning economy.
They are delaying the default. They believe they can control it.
But it is coming.
I suspect there are a lot of people in back rooms trying to arrive at the net CDS position.
The French better hope the counter-parties are good for it.
They are using paper PM's to prop things up. see way above.......
Clearly Greece is in debt not from Government Unions and Unfunded pension funds, but rather from racking up huge phone bills from useless conference calls.
Nothing in Greece matters to the untouchable US momo consumer stocks. The narrowing of leadership and relentless momentum is very reminiscent of early 2000 tech stocks. Only the stupid IPOs are missing (though I guess LNKD and P count for something)
Ouzo + Lamb = Nap Time
What does this mean?
They are enjoying themselves and want to make it last as long as possible.
it means the troika reached an agreement to agree to continued discussions.
It means "Papa" needs to work out further debt slavery for the Greeks.
http://worldwideponzicollapse.blogspot.com/2011/09/what-your-government-...
Life isn't "a box to chocolates" it's a $hit sandwhich - the more bread you have, the less $hit your eat.
THIS;
Adjective: Used to identify a specific person or thing close at hand or being indicated or experienced: "don't listen to this guy".
How many 12 year olds are on this site? Looking at the comments from many, it appears that a large migration from the yahoo message boards have found their way here, thinking they are smarter here than they were there.
I appreciate the article flow at this site, the exponential growth of useless babble needs to cease though.
Physician - heal thyself.
Even a caveman can see it.
I agree!
This from a guy who wrote the following:
Wed, 12/09/2009 - 18:05 | PAPA ROACHnow, if I only had 250mm laying around, I know where I'd put it.
250 millimeters?
That's 9.84251968505 inches.
I won't lie. I'd be happy with that. And I know where to put it, too.
that was puerile. ;)
You forgot to sqrt that... ha ha
another pretentious buzz-killington taking the same cliched swipe at the message board. "Papa Roach"?!! Your name says it all. Top 10 worst bands in the history of American music. The concept of irony completely lost on a troglodyte like you, eh? "The exponential growth of useless babble.."--of which you are now a prime contributor...
If all the yahoos went somewhere else this board would be nothing but washed up third tier pension grabbers and circle jerking wall street never-wazzes who think henry blodget is a great writer.
Troglodyte? I thought that was the Jimmy Castor Bunch.
The House of Lannister will bail out Greece in exchange for their military help with our war with the North.
As everyone knows, a Lannister always pays of their debts.
now we can rally of fed anticipation!
LOL, yea now its time to bake in some more QE! Like weve been doing for the last 8 months.
Bought a nice chunk of physical Silver today, thank you ass holes.
How often you see GOLD drop more than S&P, pretty much everything
outperform GOLD today.. Some miners getting killed (few days in
the row already)
Yep, QE3 D.O.A.
That's what I'm afraid if there is Nothing and Bernank
do not act, everything will just kaboom, including PM's.
No doubt gold could be dragged into the grave with everything else....Ive been warning my goldbug friends about that for ages! Theres no guarantee on any of this. 'Safe havens'...unless theyre talking about an AR15 and 3,000 round of .223, long term food, Im not buying its a 'safe haven investment' at all.
Better put your faith in gold ( I did it two years ago) or in cattle (I´m just doing it) than in BerniBama
Dow seems to move 50 points at a time and typically higher on a whiff of good news ... seems artificial.
Just the daily 3:00 melt up...
There was GOOD NEWS! The phone call was successfully completed, numbers dialed correctly, and then phones put back in the cradle.
HOORAY! DOW +100!
ZeroHedge discussion on Greece just referenced on bloomberg by anchor in interview!
quote?/link?
Was a live interview. I don´t know how to link to that
THe U.S. government must be shorting gold right now....aka the Plunge Protection Team.
looks like the /Es went full retard on that update. could make for a nice EOD shanking....or not.
depends on if they toss out any more meaningless market-moving fraudulent sound bits to be denied after hours.
And our buddy in Venezuela..... Hugo is da man...de bald and dying man....has just announced the takeover of all Gold mines....the companies have 90 days to sell to the country 55% of the company...lol.....and gold is still down..
++++world is saved+++dow spikes+++ omfg
Man I cant wait for the FOMC speech faceplant, this is going to be hillarious! Ordering the keg right now.
Short Squeeze back on. Risk On/Off is passe'.
A nice ramp so far! Volume nowhere to be found! Some programmer idiots out there really think QE is aorund the corner or they did not get the memo yet!
Must....squeeze....any short....possible....
Which is another clear sign no QE3 Golden Unicorn will not be pulled from Bernank's ass. If they knew QE3 was in just a few hours, why bother short squeezing now if theyll be completely blow out within hours?
Here is how the entire fiat/debt situation is going to end up.
http://www.youtube.com/watch?v=7GSXbgfKFWg
U.S. stocks soared as Greece, the IMF and the ECB all announced today that "everything was just fine", there were "no problems at all", and "the whole thing has all been a regrettable, but understandable misunderstanding about all this debt stuff". Everyone then went back to what they were doing, which was incredibly sophisticated productive wealth-building stuff. Meanwhile, incredibly complex and opaque derivative securities huddled in the dark places and muttered things under their breath, realizing that with the Historic Announcement That Everything Was Just Fine, their moment in the sun would soon be expiring, and they would forced to return to their dull lives of periodic payments on risk swaps that would never be called to account. Banks everywhere breathed a sigh of relief since the crisis most likely to affect their top employees' annual bonuses was now over and done with, never to return, and went back to doing incredibly smart, brilliant really, productive wealth building stuff. China, upon hearing the Historic Announcement, decided to continue its policy of Enlightened Inscrutability, and announced that it would be building more tall buildings than ever in Mongolia, where the need for small but still kind of cute apartments was forecast to grow beginning in the year 2057. Japan officials expressed remorse that they were closed for a holiday and could not join in the equities market global celebratory "Wave", but promised the ramp in the Nikkei would begin promptly at the market open on Tuesday, and they promised to make up for lost time.
All the while the TBTF's continue to make money during each of these radical swings in paper PM's and equities. One might even start to wonder if all these gyrations are planned so as to rape the not TBTF's?
I have more faith in the Muppets.
And our buddy in Venezuela..... Hugo is da man...de bald and dying man....has just announced the takeover of all Gold mines....the companies have 90 days to sell to the country 55% of the company...lol.....and gold is still down..
Wonder why the EUR/USD melted up in the last hour? Yes, computers heard a phone number was dialed. Hooray.
Proposal by G-Pap calling for referendum on staying in Euro
http://www.ekathimerini.com/4dcgi/_w_articles_wsite1_1_19/09/2011_407137
FT is reporting that Seimens pulled more than EUR 500 mln from French banks and put it on direct deposit with the ECB (didn't know that was possible).
This has to be a vote of confidence for the EU banking system right?
The stress tests went swimmingly.
/sarc
blah....blah...fucking blah.
New rumor...same fucking story - different day
Must....prolong.....carrot and stick....market...bit longer....till FOMC....Bernank faceplant....*gasp*....
Troika? There is only Germany and that is a big maybe...
They just said greece is CLOSE to an agreement......wow..I am so relieved...we are close to an agreement...whew...close...with just one phone call...now I can go out and buy an I-something.....I was worried I might have to save my money...
anyone smell insider's trading going on...before any greece news??
There is apparently nothing BUT insider trading going on. Look at the volume.
Most people don't have insider info, so cannot participate in the front-running derby - unless they are compulsive gamblers - which accounts for pretty much the rest of the volume.
Speaking of gold, don't you love it when someone officiously announces ( like, all the time) that China 'only' has 1019 tons of gold - small by comparison with the rest of the world? So let's see ( and I won't even deal with the gold they're mining and keeping hidden) - suppose that approximately 100 million Chinese are each buying an average of 2 grams of gold every month and stashing it away in their backyard or under the floor. 100,000,000 / 28 grams per ounce / 16 ounces a pound/ 2000 pounds per ton = 111.6 tons/month.
Now suppose that in, oh, say three years the Chinese government orders all gold to be turned in in exchange for the new Yuan. My guess is that most will be turned in, since they're gonna know where almost every last gram is hidden. Which would bring the total then in government hands to 111.6 x 36 + 1019 = 5035 tons.
Now suppose that the average buy is 10 grams/month. How much does the US supposedly have now? 8K tons or so I believe? See how this is gonna work?
How many times has Greece FINALY been saved? I have lost track. So strange. wth
This how the call went:
Lagarde: no fric until you pass the 15 conditions for disbursement we sent you last night. My staff sent you the 2689 page document with all details...
Papandreou: no time to read. We have no money. who is going to make bond payment tomorrow?..
Trichet: am buying your bonds. That is all I can do. You should cease some funds from your taxpayers and make the payment! We do that all the time here in France.
Merkel: what is the weather like in Greece during Oktoberfest...I really hate that holiday! Always drink too much beer
Sarkozy: I got an idea. I pay the billion from the Tresor Public but instead I just give it to the banks directly here in Paris! they will be happy. That was a suggestion from Carla...not only beautiful but smart!
papandreou: usually we have 20 degrees and sunny. Few tourists and a nice time to drink some ouzo! That's what am going to do tomorrow.
Lagarde: we just faxed you another copy of the detailed conditions. You sure you have enough paper in your fax machine?
sarkozy: constructive call!
merkel: What shall I tell the party?
Papandreou: Ouzo is better than Euro
So Greece announces they are close to fleecing the EU for another $8 billion in exchange for more promises they can't and have no plans to keep.
Que market spike. How many more times is the market going to smoke this "Greece is fixed, everything is fine" crack?
the default will occur on the 21 Sept as that is Pandora's birthday.
I smell books cooking. This process is about as credible as the Federal Reserve finacial report. Inquiring minds want to know: Is it dead, or is it dying? These reports and statements are like a description of the body, without photographic evidence. I can't believe that these delayed statements will have anything to do with the truth. Yhey're taking too long to come up with a convincing lie. I see this coming to a crashing thump.
http://georgesblogforum.wordpress.com/2011/07/04/photo-finish/