As Greece Denies, Germany Begins Greek Default Preparations

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Fri, 09/09/2011 - 11:18 | 1650852 BaBaBouy
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Fri, 09/09/2011 - 11:21 | 1650864 Clorox Cowboy
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I can't argue with that.

Fri, 09/09/2011 - 11:28 | 1650881 BaBaBouy
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"E" For ENGAGE The Bailout Seats ...

Fri, 09/09/2011 - 11:30 | 1650917 Chaffinch
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I can't help thinking they chose a bad day to mess with gold and silver prices - but it must be tough for them to pick a good day at the moment!

Fri, 09/09/2011 - 11:32 | 1650926 Thomas
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The market could surprise on a default.

Fri, 09/09/2011 - 11:37 | 1650947 Chaffinch
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I guess so - like that weird drop in gold price when the SNB said they would peg the CHF to the Euro - it made no sense - but I guess people often run the wrong way when they panic...

Fri, 09/09/2011 - 11:42 | 1650972 Smiddywesson
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Yes Thomas is right.  We know gold is manipulated.  We know they have margin hikes remaining.  Do you want to gamble they won't use them with equities failing, a crashing Swiss franc, the prospect of a Greek default over the weekend, and prices this close to $2k gold?  If not for this, for what are they keeping their powder dry? 

If I were them, I would hit gold with EVERYTHING I had, right here, right now (ala silver in May).  I covered.  If I miss the move above $2000, so be it. 

Times like these make me love my physical, so much less to worry about.

Fri, 09/09/2011 - 13:05 | 1651446 Chaffinch
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"If not for this, for what are they keeping their powder dry?"

I agree that from their point of view they should be hitting it harder now, but there are future events for which they may wish to keep dry powder. After $2000 will come $2500, which I believe is the inflation-adjusted high from 30 years ago (not that the situation 30 years ago was anything as like as calamitous as now...) and they will really want to make it look like a bursting bubble when we get there.
Of course a Greek default is bad, and there may be a falling domino effect, but the Greek economy is tiny, and they will paper over the problem again.
It may be enough (from their point of view) that their manipulation is causing huge volatility, which will be observed (and spun for all it's worth) by the MSM, which will scare off all those would-be investors who are now becoming aware of gold and who may be going into it for the first time.

Fri, 09/09/2011 - 11:44 | 1650977 RichyRoo
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maybe TBTF and PD's will double down on fiat by backstopping greek bonds despite failure to meet ECB terms?


The PD's have big deposits in the FED, they could deploy those to make the bid.

Fri, 09/09/2011 - 11:33 | 1650932 Zedge Hero
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Why doesn't Greece just say fuck off to the IMF and ECB, German banks, and the who ever else they are fucking ensalved to?  Here's a video about the whole European mess with a concentration on Italy's protest this week. Ithink it's starting to anger me. Sorry.

Fri, 09/09/2011 - 11:41 | 1650965 Chaffinch
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No need to apologize for getting angry - the Greeks should be a lot more angry - and as for the Irish - it is really sad to see them put into such a mess...

Fri, 09/09/2011 - 14:28 | 1651844 MS7
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I agree that Greeks should be more angry. The truth is they are angry, and they detest their government. Their government does whatever they are told by the IMF and others. They do not reflect the people in any way, but it is true that the more people should have joined the protest sooner.

Fri, 09/09/2011 - 12:23 | 1651228 A.W.E.S.O.M.-O 4000
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Beacause I think if the Greeks tell the Germans to "fuck off" preparations will then include constructing a series of camps equiped with showers and ovens, all conveniently located near rail lines.

Fri, 09/09/2011 - 12:40 | 1651317 Capitalist10
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Why doesn't Germany just say fuck off to lazy, lying, deadbeat tax cheats like the Greeks?

Oh wait, they are just about to...

Fri, 09/09/2011 - 14:31 | 1651862 MS7
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I agree. But I wonder if someone might know the answer to this-- What difference does it make if a country declares default or is declared by another to be in default? I'm asking because many people say it was in Greece's best interests to default. Now when Germany is going to do it for them, people seem to think Greece will be the loser in this. I don't understand.

Sat, 09/10/2011 - 15:00 | 1654832 e-recep
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simply because greeks are not icelanders. different mentality.

Fri, 09/09/2011 - 11:36 | 1650933 Mr Lennon Hendrix
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What is with the Illuminatti symbolism around 9/11?  Joachim and Boaz?  Solomon's Temple?  And now we have a comet switching up our gravity, and most important, electro-magnetism.  A former NASA scientist, and friend of Carl Sagan, says it is a time capsole.  Whatever it is, it is ominous, and so are the actions of the pagan Illuminatti.

Order out of Chaos, this is their goal.  They know what fear does to the status quo; it makes people complacent and this allows the Dinosaur Kings of old to further implement their control system.  They use one side of the sword to destroy the system, and the other side offers the solutions.  Yet both sides have the same effect.  Bank failure?  Print more debt.  Terrorism?  Kill millions of more brown people.  Yup, that will do the trick.

So now Greece fails, and people rush from Greek bonds into Euros. EUR/USD goes to $2.00, as Bernanke and Obama throw $4.47 trillion into the fire (perfect cover for US fiscal and monetary policy).  And al around the Egyptian New Year!  These Dinosaur Kings, they are Egyptian by the way.  You can call them Jews, what have you, but they are Pagans.  Yes they invented the "One True God", yes Moses was likely to be Akhenaten, but they are just as much Catholic as Jewish.  They do not worship what the status quo worships:  the status quo worships the daily bread.  The Dinosaur Kings worship POWER and CONTROL, because they want their Kingdoms back.  They are sick of the middle class.

So now into the fire it goes, and the slow burn of the last century torches the tree of life.  Soon the monopoly game will be over, and all fiat will be worthless in nominal terms.  Reality is at the doorstep, and boy is she ready to rock and roll.

Fri, 09/09/2011 - 11:39 | 1650961 Clorox Cowboy
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Hendrix, if you ever get a movie deal for this "Dinosaur Kings torching the tree of life" idea, count me in for one ticket.  With Michael Bay as director of course...

Fri, 09/09/2011 - 11:54 | 1651054 Mr Lennon Hendrix
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I'll see you at the premier then!

Fri, 09/09/2011 - 11:45 | 1650995 Smiddywesson
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Hendrix, you lost me in the second sentence.  Just tell me, is this good for gold or bad for gold?


Fri, 09/09/2011 - 12:15 | 1651171 Mr Lennon Hendrix
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Fri, 09/09/2011 - 11:49 | 1651001 RichyRoo
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im not scared, i have... umm gold umm God umm guns? Umm faith in my fellow man ... oh fuck i better fall in line!


Which is to say that nobody ever profited by falling in line, and i doubt there are jewish dinosaur kings.

Fri, 09/09/2011 - 12:19 | 1651194 Mr Lennon Hendrix
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Henry "Party Boy" Kissenger is the only Jew allowed at the Grove.  I think that says a lot about Jews running the world. 

David Rockefeller has a great quote from the 70's, "It does not matter which God people worship, as long as they worship one." 

I think that sums up the religous control system pretty well.

Fri, 09/09/2011 - 12:26 | 1651251 A.W.E.S.O.M.-O 4000
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Dude, first you tell me my paper money is worthless and now you tell me there is no God?


What a piece of shit Friday this is turning out to be.

Fri, 09/09/2011 - 12:30 | 1651268 Mr Lennon Hendrix
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Haha!  Thanks for the laugh. 

Fri, 09/09/2011 - 12:24 | 1651239 ww2vet
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fuck you-ready to die??

Fri, 09/09/2011 - 12:07 | 1651132 Rasna
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This is a serious blog, right?

This is ZH, WTF??!!

Fri, 09/09/2011 - 12:13 | 1651155 Mr Lennon Hendrix
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Which part isn't serious?  The Illuminatti is real, they are pagans, their roots can be traced back to Egypt and the tribe of Aten, they were pissed that they were expelled from Egypt, they were pissed that they have not taken control of the entire world, there is a comet heading right at us from another solar system, it is affecting our earth's magnetic pulses, and Europe is about to implode on the same day this comet is passing us by, which is the same time of the Egyptian New Year.  So which comment do you think is not serious?

Fri, 09/09/2011 - 14:32 | 1651864 peekcrackers
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But one thing is there where 2 types of Jews that inter-mingled with the Egytians. Ashkenazi Jews where the ones that took control with inter-mingling sex.. Henss Zion

Fri, 09/09/2011 - 14:51 | 1651956 Mr Lennon Hendrix
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There was a priest class that took over Egypt and they begot the One God religion; they were exhiled.

Fri, 09/09/2011 - 14:59 | 1651995 tj3
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The euro going to two dollars...ummm and perhaps the boring, repetitive doom and gloom sign-off. It's almost like being inflicted with 24/7 OCD. zzzzzzzzzzzz

Is it always necessary to put style over substance in blog comments.

Fri, 09/09/2011 - 20:25 | 1653011 Mr Lennon Hendrix
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Substance?  I think I have enough of that to keep some style.

'Buy All the Euro You Can' If Greece Defaults: Jim Rogers:

Fri, 09/09/2011 - 12:16 | 1651176 ElvisDog
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I don't know why, but your psychodelic post about Dinosaur Kings made me think of that 1960's movie Barbarella. Jane Fonda was totally groovy in that flick.

Fri, 09/09/2011 - 12:28 | 1651261 Mr Lennon Hendrix
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That is awesome

Fri, 09/09/2011 - 14:08 | 1651732 blueRidgeBoy
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nice rack, too.  Jane, not Hendrix

Fri, 09/09/2011 - 11:19 | 1650855 Irish66
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Fri, 09/09/2011 - 11:23 | 1650878 Ethics Gradient
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Possibly not. Even Germany is prepared to print to cover this one.

The interesting thing will be what happens in the longer term. Greece will show the other PIIS what happens when you have a floating exchange rate.

Fri, 09/09/2011 - 11:26 | 1650898 Irish66
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rescue fund..not enough

Fri, 09/09/2011 - 11:43 | 1650985 Mr Lennon Hendrix
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Memories of Weimar might do the trick.  I doubt Germany wants to repeat history.

Fri, 09/09/2011 - 11:50 | 1651025 RichyRoo
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pfft according to modern theory the Weimar Germans mistake is that they didnt print enuff

Fri, 09/09/2011 - 12:04 | 1651113 Irish66
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debt holders not responding...running

Fri, 09/09/2011 - 14:52 | 1651962 zenbones
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Krugman, Is that you?

Fri, 09/09/2011 - 11:24 | 1650880 Michael Victory
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Gloom then Boom then Doom..

Faber on CNBS Today

Fri, 09/09/2011 - 11:32 | 1650927 oogs66
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but wien said all is good and zandi is ecstatic

Fri, 09/09/2011 - 11:20 | 1650857 papaswamp
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Popcorn bitchez!!!!


Wait shhhh the HFTs haven't noticed yet...

Fri, 09/09/2011 - 11:22 | 1650875 LawsofPhysics
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Sorry, the corn and energy required to make the popcorn is too expensive, you'll have to eat this paper instead.  yuck, yuck, yuck.

Fri, 09/09/2011 - 11:37 | 1650948 papaswamp
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Damn it!!!!

Fri, 09/09/2011 - 14:03 | 1651712 Bring the Gold
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Wait you can't eat fiat?


Next you will tell me some CRAZZZZYYY story that some farmers will actually accept precious metals in exchange for tangible food stuffs. 



Fri, 09/09/2011 - 11:21 | 1650861 unky
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quick pick up some cash for the weekend :- ) just in case

Fri, 09/09/2011 - 11:22 | 1650873 CrankItTo11
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Get your nets ready, the helicopter's coming!

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