Greece Avoids Bank Run By Last Minute Bail Out Of Proton Bank

Tyler Durden's picture

Your rating: None

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Sun, 08/21/2011 - 19:35 | 1584350 Irish66
Irish66's picture

Too small too fail

Sun, 08/21/2011 - 19:40 | 1584360 wang (not verified)
wang's picture

indeed, Protons are quite small

Me, I bank at Amoeba bank



Sun, 08/21/2011 - 19:43 | 1584379 WestVillageIdiot
WestVillageIdiot's picture

It would seem that the only banks that are still solvent, and having no liquidity problems, are the Sperm Banks. 

Sun, 08/21/2011 - 19:49 | 1584402 WmMcK
WmMcK's picture

I only overdrawn at the blood bank.

Sun, 08/21/2011 - 19:59 | 1584423 Arrowhead
Arrowhead's picture

sperm banks are a racket, depositors should deal direct

Sun, 08/21/2011 - 21:42 | 1584667 Tijuana Donkey Show
Tijuana Donkey Show's picture

I always withdraw from the assets before an unwanted deposit.....

Sun, 08/21/2011 - 20:10 | 1584451 Mae Kadoodie
Mae Kadoodie's picture

Lt. Sulu, arm the Proton torpedos!

Sun, 08/21/2011 - 21:42 | 1584668 Calmyourself
Calmyourself's picture

If I remember Lt. Sulu was arming the sperm torpoedoes


Sun, 08/21/2011 - 20:12 | 1584455 Cassandra Syndrome
Cassandra Syndrome's picture

CERN Relief Program Bitchez

Sun, 08/21/2011 - 20:16 | 1584464 WmMcK
WmMcK's picture

Accelerating, for sure.

Sun, 08/21/2011 - 20:14 | 1584457 WmMcK
WmMcK's picture

"Proton Bank", I thought it was "Photon bank".  Catch the wave.

Sun, 08/21/2011 - 22:55 | 1584871 IQ 145
IQ 145's picture

I'm waiting for the bailout of the neutron bank.

Sun, 08/21/2011 - 20:54 | 1584546 IMA5U
IMA5U's picture

that's what she said

Sun, 08/21/2011 - 20:33 | 1584357 johngaltfla
johngaltfla's picture

LOL, and that's like putting more cash into an ATM on the Titanic.

Sun, 08/21/2011 - 19:38 | 1584358 Newsboy
Newsboy's picture

Mission Accomplished!

Sun, 08/21/2011 - 22:39 | 1584821 Thomas
Thomas's picture

Helluva job, Brownie.

Sun, 08/21/2011 - 19:46 | 1584361 sitenine
sitenine's picture

Greek banks trying to prevent a mood of fear.  No one could possibly see any irony in that.  /sarc

Sun, 08/21/2011 - 19:42 | 1584369 WestVillageIdiot
WestVillageIdiot's picture

There's going to be a revolution at Times Square tomorrow?  Cool.  I guess I will get out of the subway in the morning and check it out.  It couldn't happen in a more disgusting place.  Maybe they can set up the guillotines in that empty space where ESPN Zone used to be. 

Sun, 08/21/2011 - 21:07 | 1584586 zen0
zen0's picture

There is an opportunity for political performance art here.Guillotines set up at strategic spots suggesting a reckoning for the kleptocracy.


Where are the artists when you need them?

Sun, 08/21/2011 - 22:57 | 1584875 IQ 145
IQ 145's picture

"it couldn't happen in a more disgusting place"; oh yeah; what about Brooklyn ? eh. Did you think of that?

Sun, 08/21/2011 - 19:42 | 1584370 WmMcK
WmMcK's picture

+ (Postive) hadrons.

Sun, 08/21/2011 - 19:46 | 1584392 navy62802
navy62802's picture


Sun, 08/21/2011 - 19:43 | 1584376 disabledvet
disabledvet's picture

Exactly. No swap lines.methinks it'll be official soon: "the training wheels are off."

Sun, 08/21/2011 - 19:45 | 1584386 wang (not verified)
wang's picture

and now the looting begins

oh. and those 140 tonnes of gold

promise, we'll search the world to find out where is was taken and prosecute those who stole it

promise justice will be done

Sun, 08/21/2011 - 22:58 | 1584879 IQ 145
IQ 145's picture

"Everyone is crying out for justice; just as soon as they get theirs"----Mose Allison--

Sun, 08/21/2011 - 19:46 | 1584393 Diablo
Diablo's picture

the proton bank bail-out was not caused by the sovereign debt crisis. the eur51mio was embezzelment. 



Sun, 08/21/2011 - 19:47 | 1584395 ISEEIT
ISEEIT's picture

Long EUR. 1.42 is the line in the sand. Below that USD spikes and the game changes.


Sun, 08/21/2011 - 19:48 | 1584399 ISEEIT
ISEEIT's picture

Disclosure: I'm short at 1.42. Holding and covered to the moon.

Sun, 08/21/2011 - 19:54 | 1584412 unum mountaineer
unum mountaineer's picture

just a game thought: recall the fx swap lines from last week.woukd be the ultimate exercise of swap line reach around, snb deniable plausability..things that make you go hmmmm..

Sun, 08/21/2011 - 19:54 | 1584413 monopoly
monopoly's picture

Just the timing, that is all that is not known.

Good article in Bloomberg, if you want to really get pissed off, again.

Wall Street Aristocracy Got $1.2 Trillion in Fed’s Secret Loans
Sun, 08/21/2011 - 20:40 | 1584520 SIOP
SIOP's picture

"Wall Street Aristocracy Got $1.2 Trillion in Fed’s Secret Loans"


Sun, 08/21/2011 - 19:54 | 1584414 Long-John-Silver
Long-John-Silver's picture

The only Bank run I want to see is in Bullion. All Hail Hugo! Hooray! Hooray! Hooray! 

Sun, 08/21/2011 - 21:02 | 1584572 Snidley Whipsnae
Snidley Whipsnae's picture

One of these seemingly insignificant bank failures is going to be the trigger for chaos...

The central banks don't have enough fingers to plug all the leaking holes

Sun, 08/21/2011 - 21:44 | 1584676 Calmyourself
Calmyourself's picture

Fingers no, electronic currency yes..  This is all going to last longer and be more painful than most think..

Sun, 08/21/2011 - 19:55 | 1584417 JLee2027
JLee2027's picture

Seems to be a constant state of one debt crisis after another. 

The end must be here. They'll give up soon.

Sun, 08/21/2011 - 19:56 | 1584419 prophet
prophet's picture

Epic Frail

Sun, 08/21/2011 - 20:02 | 1584433 NumNutt
NumNutt's picture

Kind of like crack heads lending each other money, they know they will never see it again.

Sun, 08/21/2011 - 20:05 | 1584440 Arrowhead
Arrowhead's picture

By God I'd better see mine, I have some expensive dental work to pay for.

Sun, 08/21/2011 - 20:08 | 1584446 WmMcK
WmMcK's picture

The one case in which I will rid myself of metal -- old amalgam fillings, that is.

Sun, 08/21/2011 - 21:13 | 1584598 Arrowhead
Arrowhead's picture

Is mercury still traded? I remember seeing the price of mercury quoted in the paper in the 1980's when I was pup.

Mon, 08/22/2011 - 10:31 | 1585818 SAJ
SAJ's picture

No, Arrrowhead -- the mercury contract on the old NYMEX (pre-energy) failed not once, but twice.   First time in 1975 or 1976.  Second time, for good, in the late 1980s.

Joined the ranks of Apples, Iced Broilers, Eggs, Maine White Potatoes, Silver Coins, Tom Turkeys, and here recently, Frozen Pork Bellies.  All of these had one thing in common (well, besides failing):  the contracts never met their respective industries' needs.


Sun, 08/21/2011 - 20:29 | 1584491 Lazlo Toth
Lazlo Toth's picture

So.. let me get his straight...

The bigger failing banks in Greece are lending to the smaller failing banks in Greece....

But the bigger banks must be lending the money of the Bank (i.e. Greece citizens who bank there) to the smaller failing bank.

So... Who got done?

Mon, 08/22/2011 - 07:22 | 1585316 Mesquite
Mesquite's picture

Some things never change...

Sun, 08/21/2011 - 20:02 | 1584434 LookingWithAmazement
LookingWithAmazement's picture

So, no bankruns in Greece and further Europe. Bankproblem solved. Boring world we live in.

Sun, 08/21/2011 - 20:04 | 1584439 LawsofPhysics
LawsofPhysics's picture

I know of several venture fund guys heading to Germany tomorrow.  We all know that it is arm-twisting time, just wish I knew who was twisting who's arm.  Although short-lived, I think one fiat (either the dollar or the Euro) is about to get a bump.  Gold will, simply because.

Sun, 08/21/2011 - 20:14 | 1584459 Jasper M
Jasper M's picture

I'l take the under on that trade. 

If When interest rates go up (and Bernanke can't stop them), gold will plummet. 

Sun, 08/21/2011 - 20:24 | 1584476 LawsofPhysics
LawsofPhysics's picture

Ah the contrarian, we can't have money becoming a store of value now can we.  Interest rates goes up, America defaults.  Anything of physical value will be used as "money".  All paper will be good for starting fires.

Sun, 08/21/2011 - 20:31 | 1584499 Dick Fitz
Dick Fitz's picture

Yes, when interest rates rise gold will drop, for a short while. The rise in interest rates will signal even higher inflation, and gold will then resume rising at even faster speeds. A 20% interest rate on a currency that is depreciating (due to price inflation) at 30-99% a year is still a losing deal.

Sun, 08/21/2011 - 21:09 | 1584591 Snidley Whipsnae
Snidley Whipsnae's picture

Jasper... If interest rates of US Ts go up the US Economy is toast... A default on US Ts will ensue for the treasury will not be able to pay the interest on the debt without massive printing... Dollar will sink on news of massive printing...

and PMs will be the only game in town!

Mon, 08/22/2011 - 05:44 | 1585238 falak pema
falak pema's picture

Benocide's rule holds: ZIRP for two more years. Print and dump. "Exorbitant privilege" holds until the Chinese pull the plug on USD as reserve. But that will take some doing. Its real big game changer and could shove the world to the brink of Armageddon.

Dick Cheney said it all : "The American way of life is non negotiable." He was obviously talking in the name of the Oligarchs, not in name of Main Street. Subtle nuance which is now sinking home fast to Main Street USA. But the Chinese have their eyes on what Benocide's print and dump could do to hyperinflation in China and its RM commodity market. It could explode their bubble and deflate world wide growth. 

Pm stays the only game in town. Until the Oligarchs make their move. Watch out. If there is a massive sell off by Paulson...If deflation comes in big way... Two black swans that could kill PMs. But as long as we are in "print and dump" mode and USD stays reserve that devalues every day, PMs stay sexy. The less worse of two scenarios from Ben's perspectve. And he is point man for the Oligarchs.

Do NOT follow this link or you will be banned from the site!