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Greece Itself Now Openly Ridicules Europe's Lies Of Greek "Stability"

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Wed, 08/31/2011 - 15:23 | 1619995 MarketTruth
MarketTruth's picture

But...but...but.... Greece has gold. Oh, what was that you say... Greece CLAIM to have gold.

Wed, 08/31/2011 - 15:52 | 1620177 Long-John-Silver
Long-John-Silver's picture

It's held in JP Morgan and HSBC bullion vaults. They claim it's all there, every ounce of it.

Can I interest you in a Bridge? It's located in Brooklyn, NY. 

Wed, 08/31/2011 - 16:30 | 1620401 MS7
MS7's picture

Not every ounce. Germany has more than an ounce of WWII era gold from Greece.

Wed, 08/31/2011 - 16:28 | 1620394 MS7
MS7's picture

I don't understand your point. The government better not give away the gold of Greece, which belongs to the people, and which will be necessary for a gold backed drachma when (there is no "if") Greece defaults. The extremely unpopular government in Greece is the one that favors the bailouts as a way to pay off its friends in the Troika before the inevitable default. But they wouldn't go so far as to give away the gold (I don't think).

Wed, 08/31/2011 - 17:23 | 1620614 Drachma
Drachma's picture

People? TPTB don't recognize any people in Greece, just cats, dogs, goats and mostly sheep; all chattel to be sure.

Wed, 08/31/2011 - 15:23 | 1620003 FunkyMonkeyBoy
FunkyMonkeyBoy's picture

Europe must fall before the U.S. It is the agenda.

Wed, 08/31/2011 - 15:24 | 1620004 Scalaris
Scalaris's picture

Feta-backed Bonds.

Wed, 08/31/2011 - 15:59 | 1620234 Black Forest
Black Forest's picture

Olive oil backed bonds.

Wed, 08/31/2011 - 15:24 | 1620008 RobotTrader
RobotTrader's picture



National Bank of Greece's 35% moonshot from the other day wiped out in one fell swoop.

Wed, 08/31/2011 - 15:24 | 1620011 spiral_eyes
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Does anyone remember what happened the last time Germany were forced into pledging vast amounts of cash (or “reparations”) to other European nations? No?

It wasn’t pretty.


Wed, 08/31/2011 - 15:26 | 1620021 Caviar Emptor
Caviar Emptor's picture

Debt? What's debt among old friends? We'll pay you back in dining and entertainment and unforgettable memories. You should loosen up. 

Wed, 08/31/2011 - 15:28 | 1620033 disabledvet
disabledvet's picture

Jamie Dimon? Is there a "Jamie Dimon here?" Yes...Continent of Europe...line one. No need for the French interpreter this time.

Wed, 08/31/2011 - 15:28 | 1620035 defn8Dog
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so... what's the likelihood that Greece actually did hire a law firm to evaluate debt restructuring and exit from the Eurozone?


Wed, 08/31/2011 - 15:47 | 1620140 Construct
Construct's picture

Have you actually seen the Greek bond yields? Greece has already defaulted.

Wed, 08/31/2011 - 15:53 | 1620185 disabledvet
disabledvet's picture

A what? Hahahahaha

Wed, 08/31/2011 - 15:56 | 1620214 Construct
Construct's picture

what do you call 20% on 10yr vet?

Wed, 08/31/2011 - 16:01 | 1620241 Black Forest
Black Forest's picture

so... what's the likelihood that Greece actually did hire a law firm to evaluate debt restructuring and exit from the Eurozone?

>>0 per cent I guess.

Wed, 08/31/2011 - 15:29 | 1620042 Chuck Bone
Chuck Bone's picture

Wait... so when you decrease government spending (the G in the GDP equation) then people's net income falls and thus tax revenues decline as well? It's almost as if it's impossible for Greece to pay back their debts... Oh wait, they are already paying 40+%, which is basically a recovery rate anyway. Whatever, let's just throw new debt at this problem, that'll fix it!

Wed, 08/31/2011 - 16:13 | 1620313 Alea Iactaest
Alea Iactaest's picture

I always wondered what the "G" stood for. Thanks for clearing that up.



Wed, 08/31/2011 - 17:15 | 1620584 Apeman
Apeman's picture

Here in waffleland we don't have a G. Does this mean we're the first to get DP'ed? O_o

Wed, 08/31/2011 - 15:30 | 1620044 centerline
centerline's picture

Central bank game change.  Time to blame the politicians and people.  EU version of the same script being played out here.

Wed, 08/31/2011 - 15:53 | 1620183 Oh regional Indian
Oh regional Indian's picture

yup yup centerline. Same thing happening here in India. Suddenly, a politician cannot find a corner to hide in. 


Wed, 08/31/2011 - 15:30 | 1620047 Frozen IcQb
Frozen IcQb's picture

Another Versaille attempt will split the Euro in two along the North/South axis.

Wed, 08/31/2011 - 15:41 | 1620110 Instant Wealth
Instant Wealth's picture

1. Core Europe with Germany, Austria and Hungary ?

2. trigger event ?

3. WWI reloaded ?

4. Versailles treaty 2.0 ?

5. Sarkozy = le grand empereur ?

Wed, 08/31/2011 - 15:54 | 1620190 Oh regional Indian
Oh regional Indian's picture

Line item 5 made me gag, till I re-wrote it in my head. Then it made me laugh...


5. Sarkozy = le petit empereur?




Thu, 09/01/2011 - 04:13 | 1621976 ambrosiac
ambrosiac's picture



De cette bouteille sortit/

Napoleon le petit

Wed, 08/31/2011 - 15:55 | 1620200 disabledvet
disabledvet's picture

Hahahaha. This one's even funnier than the lawyer comment above.

Wed, 08/31/2011 - 15:31 | 1620050 1835jackson
Wed, 08/31/2011 - 15:31 | 1620054 mynhair
mynhair's picture

Does this mean: 'buy the dip'?

Wed, 08/31/2011 - 15:33 | 1620059 Imminent Collapse
Imminent Collapse's picture

Its all Greek to me

Wed, 08/31/2011 - 15:48 | 1620161 Cash_is_Trash
Cash_is_Trash's picture

To them as well, and they don't understand it.

Survival of the unfittest, bitchez

Wed, 08/31/2011 - 15:37 | 1620079 Dick Darlington
Dick Darlington's picture

Thus the official beginning of the end of the Euro and Eurozone starts.

It's about the fooking time. Disintegration will replace the word of the year, austerity, very soon.

P.S. Did anyone notice the plunge in Spain's budjet revenues? Compared to last yr, the ytd cumulative revenue was 10 bn lower...

Wed, 08/31/2011 - 15:37 | 1620080 Sudden Debt
Sudden Debt's picture

Maybe a war with Greece will solve the problem?

UN troops to confiscate anything of value?

Enslavement of the Greek population to pay of their debt? If so, I take one young femal specimen for the cooking and cleaning and I'll pay 5K for it.

I don't know... that's it options concerned.....


Wed, 08/31/2011 - 15:50 | 1620170 Cash_is_Trash
Cash_is_Trash's picture

Serfdom: Cheap or free spoils of war

Wed, 08/31/2011 - 15:54 | 1620195 Long-John-Silver
Long-John-Silver's picture

That could get slippery

Wed, 08/31/2011 - 15:59 | 1620233 disabledvet
disabledvet's picture

No need for war. We're already in there. Just start building a humongous Naval Base in Salonika--using Egyptian workers. That should send the appropriate message.

Wed, 08/31/2011 - 16:01 | 1620246 vocational tainee
vocational tainee's picture

sometimes you are an arsehole

Wed, 08/31/2011 - 16:06 | 1620276 myne
myne's picture

Krugman would certainly advocate the USA to supply and reinforce all sides of this war.

Wed, 08/31/2011 - 15:38 | 1620088 irishlink
irishlink's picture

Barroso's statements today were delivered so calmly that you knew he was endeavoring to conceal how desperate the situation really is. They are running to stand still ...... time

Wed, 08/31/2011 - 15:51 | 1620173 Mountainview
Mountainview's picture

Barroso is no economist and Greece(and especially the Greek population) should be freed from this endless muddeling of Brussel Eurocrats. Let the Greek out of the EURO, write off some of your credits to this country and start with a blank sheet and the Greek New Drachma!

Wed, 08/31/2011 - 15:38 | 1620089 The Shootist
The Shootist's picture

Oh, Esperanto...

Wed, 08/31/2011 - 15:39 | 1620096 NotApplicable
NotApplicable's picture

WTF is a "durable declining path?" Sounds like a metal slide to Hades.

Sorry Europe: your credibility, whatever was left of it, just ran out. When the indirect object of your bail out effort (the direct one being naturally your central bank and your various local banking oligarchy of course) says in your face that you are full of excrement, it is time to put a fork in it.

No forking shit!

Wed, 08/31/2011 - 15:39 | 1620097 espirit
espirit's picture

Maybe the Greeks and EU can blame the Fed for the Pump n' Dump.

Or is QE3 necessary to once again stabilize the EuroZombie?

Wed, 08/31/2011 - 15:43 | 1620122 Construct
Construct's picture

EFSF to the moon? no?

Wed, 08/31/2011 - 15:49 | 1620164 WonderDawg
WonderDawg's picture

What would the discussion thread be if someone didn't mention QE3?

Wed, 08/31/2011 - 15:54 | 1620191 Construct
Construct's picture

Don't discriminate EFSF like that dogg.

Wed, 08/31/2011 - 15:57 | 1620215 espirit
espirit's picture

It is the only thing that will keep the ponzi going. The Greeks are at the bottom of the food chain.

Wed, 08/31/2011 - 16:00 | 1620240 slaughterer
slaughterer's picture

Germany is only backing EFSF to €211billion.  So, no moon. 

Wed, 08/31/2011 - 16:04 | 1620263 Construct
Construct's picture

And what happens when france, italy, spain, x, ....,? comes asking for a handout. They are not to far off from Greece you know. Europe is so broke it makes America look like a saint.

Wed, 08/31/2011 - 15:40 | 1620100 Cdad
Cdad's picture

The BlowHorn [CNBC] answers ZH's continuing coverage of the European disaster with...Abbie J. Cohen and her soothing explanation of how....of course...the market is "historically cheap."

Brilliant!  Would the FCC please pull the broadcasting license at the BlowHorn?  Thank you.


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