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Greece Ready To Start Selling Its Islands

Tyler Durden's picture


A year ago the mere mention of Greece selling its real estate, let along its prized islands, was enough to fill Syntagma square with tear gas, laser light pointers and the occasional riot dog. Now - nobody cares, which is why the statement by Greek PM Samaras that he is ready to start selling Greek islands was largely met with a yawn across the investing world.

From AP:

Afraid of investing in Greek bonds? Invest in a Greek island instead.


Greece’s prime minister is quoted Thursday in an interview in France’s Le Monde as saying the government could cash in on uninhabited islands.


Antonis Samaras said investment is key to reviving the economy, and that privatization plans include selling railways and a part of the Attica coast.


Asked if the government is ready to sell uninhabited islands too, he said, ‘‘as long as this doesn’t pose problems for national security, some of these isles could have a commercial use.’’


He didn’t elaborate or say the government would sell the islands altogether: ‘‘This is not, in any way, about selling them off for cheap, but about transforming unused terrain into capital that could generate revenue, at a fair price.’’

Of course, nobody in their right mind will "buy" a Greek island for three reasons:

  1. Said island will soon be used as secret collateral for loans to the ECB and Germany, meaning there will be no equity value left for the "buyers"
  2. "Buyers" can't take it with them, and
  3. All island sales will be promptly re-nationalized when the opposition takes control of government in the next election in a few months, kicking Greece out of the Euro, and declaring all previous "deals" null and void, just before it announces Odious debt means all Greek debt is also null and void.

And to think all of this could have been avoided if Greece simply collected taxes....


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Thu, 08/23/2012 - 09:45 | 2730005 LawsofPhysics
LawsofPhysics's picture

Hedge funds already buying.

Thu, 08/23/2012 - 09:49 | 2730019 GetZeeGold
GetZeeGold's picture



The plane....the plane!!!!


Jon Corzine.....welcome to Fantasy Island. Be careful.....don't step on the midgets.

Thu, 08/23/2012 - 09:54 | 2730048 malikai
malikai's picture

Yea, that makes complete sense. Let's do a little political math here shall we?


  1. Greece is in cripling debt.
  2. Greece's government is the weakest it has been in decades.
  3. Greece's "Socialist Worker's" party is taking over the public's view.
  4. Greece is facing expulsion/exit from the Euro, meaning hyperinflation is just around the corner.

What does all that add up to? Simple.

Nationalization/Repatriation of assets is just a few steps down the line!

Enjoy your island, for however long it lasts.

Thu, 08/23/2012 - 10:03 | 2730093 Jay Gould Esq.
Jay Gould Esq.'s picture

Francisco Scaramanga bidding against Dr. No, for a piece of uninhabited rock in the Aegean...

Indeed, that's what makes a market.

Thu, 08/23/2012 - 10:11 | 2730130 hannah
hannah's picture

i guess you didnt hear...dr no defaulted on his teaser rate arm and lost his criminal lair. scaramanga lost all his money in the aig crash.

Thu, 08/23/2012 - 10:14 | 2730143 blueRidgeBoy
blueRidgeBoy's picture

and the Golden Gun was rehypothecated...

Thu, 08/23/2012 - 10:31 | 2730203 Precious
Precious's picture

A new homeland for rabbit juice.  Problem solved.

Thu, 08/23/2012 - 10:42 | 2730226 The Big Ching-aso
The Big Ching-aso's picture



I heard the sale of Lesbos smells fishy.


Thu, 08/23/2012 - 11:46 | 2730475 fourchan
fourchan's picture

the bankers have sofened up the greeks according to plan, now the debts will be paid,

and not with fiat money. this exposes the evil of fiat money regimes.

Thu, 08/23/2012 - 12:08 | 2730558 NotApplicable
NotApplicable's picture

Fuck You, Malakas!

-- Mr. Panos

Thu, 08/23/2012 - 12:20 | 2730635 Turin Turambar
Turin Turambar's picture

"The Golden Gun is not really a gun."

Ben Bernanke

Thu, 08/23/2012 - 10:04 | 2730096 monoloco
monoloco's picture

All this could have been avoided if Greece would have just said no to the neo-liberal, nnew world order debt slavers.

Thu, 08/23/2012 - 10:21 | 2730168 financial apoca...
financial apocalyptic contagion's picture

yea wtf Tyler

"And to think all of this could have been avoided if Greece simply collected taxes"

Fuck taxes, it's a citizens duty to try and not to pay taxes just as it is a POW's duty to escape

blame the govt

Thu, 08/23/2012 - 12:11 | 2730573 Freddie
Freddie's picture

You also have all the unionized govt workers who need to keep getting their money.   This Europe problem is largely a bailout of pubic sector (unionized0 govt workers and illegal alien/asylum seekers who have bankrupted western europe.

See the same Obama funneling money to California, Illinois, Detroit, UAW and other lib shitholes plus Fisker, Solyndra, Corzine and the list goes on.  This is where the TARP money and trillions more have gone to.  

Thu, 08/23/2012 - 10:17 | 2730160 kridkrid
kridkrid's picture

Some of my "tuned in" friends have recently relocated to Central and South America.  When I run through scenarios and possible outcomes, I keep coming up with everything that they are investing in (land, really) being repatriated at some point.  And when 100% of America is blamed for what the global banking cabal has created, I'm not so sure I would want to be standing on that repatriated land speaking my second language.

Thu, 08/23/2012 - 10:37 | 2730215 Precious
Precious's picture

You could always go somewhere too far away for anyone to even give a shit.

Thu, 08/23/2012 - 11:11 | 2730355 kridkrid
kridkrid's picture

“The technetronic era involves the gradual appearance of a more controlled society. Such a society would be dominated by an elite, unrestrained by traditional values. Soon it will be possible to assert almost continuous surveillance over every citizen and maintain up-to-date complete files containing even the most personal information about the citizen. These files will be subject to instantaneous retrieval by the authorities.” - Zbigniew  Brzezinski

Thu, 08/23/2012 - 13:22 | 2730900 BattlegroundEur...
BattlegroundEurope2011's picture


Thu, 08/23/2012 - 19:41 | 2732112 UncleFurker
UncleFurker's picture

Those islands run by an ex-futures-trader who is planning to sell all it's assets off?


Thu, 08/23/2012 - 10:21 | 2730173 sessinpo
sessinpo's picture

So to make things interesting, let's hope China buys the islands. We all know China shakes in their boots when thinking of dealing with the great undefeatable Greece military. (sarc)

Thu, 08/23/2012 - 09:55 | 2730057 AlphaDawg
AlphaDawg's picture


What is the best country to go to? And what trade is best?

The jobs are dropping in my country atm

Need a getaway plan



Thu, 08/23/2012 - 10:10 | 2730122 Mentaliusanything
Mentaliusanything's picture

I hear tell that a leaky boat from Indonesia will get you a place in the sun, downunder. Many have tried and many have died. But Fuck me the Freebees are heaven on a stick. Its all free, house, education , cigarettes, language courses cell phones... et all

I paid a lot of money in tax to make it so..... so make my day. (day starts at 4.30am and ends ... fuckit its 12,06am ESDT. come on fucker I can afford at least a Zero hedger more to balance the losers Im feeding.

PS your Welcome if you can speak FUCKING ENGLISH ( it appears so)

Thu, 08/23/2012 - 10:20 | 2730165 AlphaDawg
AlphaDawg's picture

So you reckon Austraia man? Weather does look nice.

Interesting choice, not looking for freebies though, paying some crazy taxes right here so that wont make much difference.

What kind of high paid work?

Banking? Accountancy?


Thu, 08/23/2012 - 11:02 | 2730314 ItsEvolutionBaby
ItsEvolutionBaby's picture

just don't come by boat

the ones that come by boat are always in the press because it is used as a wedge political point by our party (yes not plural, we're ruled just like the Americans, statist nanny state style fascists)

grab a visa any way you can and fly in, and let it run out

Australia is fully fucked by cultural marxism, we're just not as far down the line as everyone else

tick tock on the housing bubble and end of the mining boom

tick tick tock tick tock 

Thu, 08/23/2012 - 14:56 | 2731303 Anusocracy
Anusocracy's picture

Spent 21 months riding a bicycle around Australia.

Felt so damn comfortable there.

Thu, 08/23/2012 - 12:23 | 2730649 Turin Turambar
Turin Turambar's picture

Peru has come a long way in the last 10 years.  The economy is booming, and my best investments are there; unfortunately, the recent elections resulted in a dumbass lefty buddy of Chavez winning, so who knows now.  I'm in the process of liquidating.  :-(

Thu, 08/23/2012 - 13:49 | 2731034 Terminus C
Terminus C's picture

Alberta. Jobs, growth and lots of arable land. Water is a bit of an issue in the south.

Of course... It is all oil sands driven... environmental clusterfuck and economically fragile.

The population is more libertarian than most in Canada...

Thu, 08/23/2012 - 10:00 | 2730077 vast-dom
vast-dom's picture

also Greece did not disclose that PROPERTY TAX for said Islands is 3x purchase price, per month!

Thu, 08/23/2012 - 10:17 | 2730157 LongSoupLine
LongSoupLine's picture
 Dimon Island!

Thu, 08/23/2012 - 12:10 | 2730570 NotApplicable
NotApplicable's picture

Nah, he's gonna go for a populated one. Soros too!

Thu, 08/23/2012 - 10:00 | 2730079 Mentaliusanything
Mentaliusanything's picture

Well now that was the plan all along. Now FUCK OFF this is a Private beach..... Bitches

Thu, 08/23/2012 - 10:20 | 2730167 LongSoupLine
LongSoupLine's picture



Buy a Greek Island?!?!  Shit, why do that when I have access to these fucking awesome California muni bonds!!

Thu, 08/23/2012 - 10:25 | 2730182 Antifaschistische
Antifaschistische's picture

BINGO!!! LawofPhysics..

Step #1:   Sell the islands to Central Bankers and their recipient parasites

Step #2:   In 12 years, invoke eminent domain for strategic purposes and retake the islands.

That's the cycle of economic life.

Thu, 08/23/2012 - 11:27 | 2730413 battle axe
battle axe's picture

Hello Turkey we have some real estate to show you, I think you are familiar with it....

Thu, 08/23/2012 - 09:47 | 2730014 Son of Loki
Son of Loki's picture

I'll take can have the rest.

Thu, 08/23/2012 - 10:17 | 2730154 blueRidgeBoy
blueRidgeBoy's picture

you may want Lesbos, but they don't want you

Thu, 08/23/2012 - 10:26 | 2730184 kridkrid
kridkrid's picture

I like to watch. - Chauncy Gardner

Thu, 08/23/2012 - 11:40 | 2730451 10mm
10mm's picture

Ahhh bi sexual chicks for 100 Alex.

Thu, 08/23/2012 - 09:47 | 2730016 PaperBear
PaperBear's picture

Everybody in Greece is already dead.

Thu, 08/23/2012 - 09:50 | 2730021 realtick
realtick's picture

Throw in a young Daryl Hannah and we've got a deal.

Thu, 08/23/2012 - 10:13 | 2730140 Mentaliusanything
Mentaliusanything's picture

Hey Loser ... she past you by on the beach a long time ago. ....Grow the fuck up

Thu, 08/23/2012 - 10:15 | 2730147 hannah
hannah's picture

daryl hannah is just your basic pleasure model...for off colony or little greek islands.

Thu, 08/23/2012 - 10:18 | 2730159 blueRidgeBoy
blueRidgeBoy's picture

Bladerunner refs always get +1

Thu, 08/23/2012 - 09:50 | 2730027 Dr. Engali
Dr. Engali's picture

Hey Greece I have a better idea,,,,,,default and get it over with.

Thu, 08/23/2012 - 09:58 | 2730069 Sauk Leader
Sauk Leader's picture

Or do both, Like Belize!

Thu, 08/23/2012 - 10:00 | 2730078 GetZeeGold
GetZeeGold's picture



Go north Iceland!!!


Thu, 08/23/2012 - 10:02 | 2730085 resurger
resurger's picture

Belize has a giant water black hole

Thu, 08/23/2012 - 10:03 | 2730091 timbo_em
timbo_em's picture

That would be way to easy and it would take all the entetainment away.

Thu, 08/23/2012 - 09:50 | 2730028 midtowng
midtowng's picture

And to think of the hundreds of thousands of Greeks who have fought wars and died to protect those islands from being taken by foreigners.

Thu, 08/23/2012 - 09:50 | 2730031 gookempucky
gookempucky's picture

Should show up in the Thrifty Nickel anyday now.

Thu, 08/23/2012 - 09:52 | 2730035 magpie
magpie's picture

Long Turkish strawman corporations ?

commercial use = gas deposits inclusive ?

Thu, 08/23/2012 - 09:52 | 2730036 falak pema
falak pema's picture

thousands of rocks and Circe behind each one of them. You tread into Greece at your peril; if you be conqueror or marauder from foreign shore. 

Enjoy the moussaka and the stifado. Spend your money as you honour history. Spend your semen as you honour Zeus. Spend your hubris and you honour nemesis. 

Thu, 08/23/2012 - 10:17 | 2730158 Jack Sheet
Jack Sheet's picture

If you want to discharge your semen, build a naval base!

Thu, 08/23/2012 - 10:52 | 2730279 falak pema
falak pema's picture

I'd never cavort with a seal! 

Thu, 08/23/2012 - 09:52 | 2730037 jjsilver
jjsilver's picture

Selling their prized land to pay back debt + interest created out nothing by a criminal cartel; what a scam

Thu, 08/23/2012 - 10:13 | 2730038 John Law Lives
John Law Lives's picture

Is the Vampire Squid now going to package MBS re. Greek Islands into AAA-rated securities and sell them to muppets???

Thu, 08/23/2012 - 09:53 | 2730040 CrashisOptimistic
CrashisOptimistic's picture

This will be interesting.

They want a "fair price" on an island that until now no one would live on.



Thu, 08/23/2012 - 09:53 | 2730041 johnQpublic
johnQpublic's picture

place rehypothecating island joke here_________________

Thu, 08/23/2012 - 09:55 | 2730053 GetZeeGold
GetZeeGold's picture



I swear the landing strip was right there.....and then it just disappeared!


Thu, 08/23/2012 - 10:12 | 2730132 resurger
resurger's picture


Thu, 08/23/2012 - 09:56 | 2730062 magpie
magpie's picture

Hic Rhodos, hic salta

Thu, 08/23/2012 - 09:54 | 2730045 EmileLargo
EmileLargo's picture

They will sell the same island to eight different guys and pocket the cash.

Thu, 08/23/2012 - 10:26 | 2730185 SWCroaker
SWCroaker's picture

Finally someone gets it.  The same guys who have been scamming the EU with: "sure! we'll pay back any and all loans!  in full!  honest!" are now moving on to the next tactic of "you bet this piece of paper means you really honest to god own your own Greek island!  for real! Just send your chasier's check to....".


Give 'em your money, then try and take "ownership" of your property, which you'll find is occupied by towns filled with locals who weren't exactly in on the whole "bidness" deal that transferred title out from under them.  Without the subsequent enforcement of these sales by the Greek courts, military and governance sectors, I'd say fat chance of ever enjoying your bargain basement priced real estate....

Someone needs to whip up a pamplet or do a Letterman top-10 list: "I was dumb enough to.... "

  • a) lend money to a European country,
  • b) "buy" a Greek island,
  • c) help a Kenyan prince get at his money,
  • d) vote in a Presidental election,
  • e) pay to be set up so I could "stuff envelopes" in my own home,
  • f) send off for Sea Monkeys, ....
Thu, 08/23/2012 - 12:17 | 2730612 12ToothAssassin
12ToothAssassin's picture

Sign my name as Linda Green

Thu, 08/23/2012 - 09:53 | 2730046 autonomos
autonomos's picture

"And to think all of this could have been avoided if Greece simply collected taxes...." is sarcastic? right?

Thu, 08/23/2012 - 10:13 | 2730138 BurningFuld
BurningFuld's picture

Well if you bought an island they would surely have no problem collecting taxes from YOU!

Thu, 08/23/2012 - 10:32 | 2730205 SWCroaker
SWCroaker's picture

You may be onto something as well.  Say the ECB buys the island titles; they never really try to take possession of them thus the inhabitants of the islands never revolt, and being the ECB and having one of those magical printers, they can happily pay through the nose any and all exorbitant taxes that get levied.

Tada! Greek economic problems solved, in true Greek fashion, by a method that defines the model for the "rescue" of the entirety of Western Civilization.

Thu, 08/23/2012 - 09:54 | 2730049 azengrcat
azengrcat's picture

This is not Sparta!

Thu, 08/23/2012 - 09:54 | 2730050 youngman
youngman's picture

I would require a 5000 year no volcano guarantee

Thu, 08/23/2012 - 09:54 | 2730052 q99x2
q99x2's picture

Technocratic privatisation Bitchez.

Thu, 08/23/2012 - 09:56 | 2730061 lolmao500
lolmao500's picture

Sell them to the technocrats... then have elections... and nationalize them. WIN!

Thu, 08/23/2012 - 09:55 | 2730058 lolmao500
lolmao500's picture

Sell them to Turkey for some LULZ.

Thu, 08/23/2012 - 09:57 | 2730066 Anasteus
Anasteus's picture

That's what it boils down to; deteriorate the economy with paper & digital scam and grab real assets for debased money.

Thu, 08/23/2012 - 09:58 | 2730070 dbomb12
dbomb12's picture

The "Fire Sale" has arrived!!! next up, euro then dollar collapse

Thu, 08/23/2012 - 10:03 | 2730092 Henry Chinaski
Henry Chinaski's picture

It's all fun and games until the Grand Canyon goes up for auction...

Thu, 08/23/2012 - 10:12 | 2730131 Big Corked Boots
Big Corked Boots's picture

Can't we sell Kalifornia to the Chinese?

Thu, 08/23/2012 - 11:23 | 2730400 Little John
Little John's picture

What have the Chinese ever done to deserve that?

Thu, 08/23/2012 - 09:58 | 2730072 toady
toady's picture

And I was all hot to buy one.... Thanks for the 'why not to'.

I guess I'll wait for the third or fourth short sale when I can get one tax free.

Thu, 08/23/2012 - 09:59 | 2730074 timbo_em
timbo_em's picture

Maybe Russia or China need a military base in the Eastern Mediterranean Sea? That sounds like a good deal. If they were able to deploy enough firepower before the next Greek election, Syriza might re-think its re-nationalisation plans for those islands.

Thu, 08/23/2012 - 10:02 | 2730086 magpie
magpie's picture

I was thinking more along the line of James Bond style supervillain sub pens

Thu, 08/23/2012 - 10:08 | 2730112 The Chief
The Chief's picture

Dr NO. Cue Ursula Andres.

Thu, 08/23/2012 - 11:39 | 2730447 viahj
viahj's picture

i suppose that Russia is in the market, seeing how they may want to leave Tartus

Thu, 08/23/2012 - 10:00 | 2730076 lolmao500
lolmao500's picture

And to think all of this could have been avoided if Greece simply collected taxes....

Only peons and fools pay taxes... especially in Greece.

Thu, 08/23/2012 - 10:01 | 2730083 buzzsaw99
buzzsaw99's picture

saw one on ebay bitchez

Thu, 08/23/2012 - 10:02 | 2730088 Roland99
Roland99's picture

Do I get a free gyro at least?


Thu, 08/23/2012 - 10:03 | 2730090 NEOSERF
NEOSERF's picture

BTFGI Bitchez!

Thu, 08/23/2012 - 10:04 | 2730095 Jack Sheet
Jack Sheet's picture

So they changed the procedure where potential buyers have to submit bids to 15 different ministries? (as reported earlier this year by Bloomberg, I think)

Thu, 08/23/2012 - 10:05 | 2730101 Zola
Zola's picture

What about a ZH island ?

Thu, 08/23/2012 - 11:21 | 2730394 Little John
Little John's picture

Great idea, let's dig a moat around Texas and call it done.


Thu, 08/23/2012 - 10:06 | 2730105 tocointhephrase
tocointhephrase's picture

If anyone buys Rhodes/Rhodos please send me some Honey Rum!

Thu, 08/23/2012 - 10:07 | 2730106 Habyarimana
Habyarimana's picture

maybe an interesting opportunity for Turkey

Thu, 08/23/2012 - 10:06 | 2730107 Capitalist
Capitalist's picture

Just like local-law bonds went to zero, so too will local-law islands.

Thu, 08/23/2012 - 10:08 | 2730110 youngman
youngman's picture

The Chinese might buy them...they can defend them too

Thu, 08/23/2012 - 10:18 | 2730111 “Rebellion to t...
“Rebellion to tyranny is obedience to God.”-ThomasJefferson's picture

Any and all interested stooges, er parties, should contact Jon Corzine Ponzi Island Real Estate at 1 800 EAT SHIT!

Thu, 08/23/2012 - 10:08 | 2730114 machineh
machineh's picture

"Buyers" can't take it with them

Governments exist in perpetuity (theoretically).

Russia would be most interested in building a military base on one of those islands.


Thu, 08/23/2012 - 10:09 | 2730116 hannah
hannah's picture

right...i'm going to buy an island and then have greece start taxing it at 50%.....seems like a good deal to me...?

Thu, 08/23/2012 - 10:09 | 2730117 batz
batz's picture


They'll just seize them back as a renationalization of assets as soon as some despot can use them as collateral on a line of credit.

Thu, 08/23/2012 - 10:10 | 2730123 Joe A
Joe A's picture

I heard they come with accompanying Spiderman beach towels.

Thu, 08/23/2012 - 10:10 | 2730125 inzider84
inzider84's picture

Lets buy a greek island and create a free state, based on a constitution more devotet to freedom and liberty than the US Constitution. Of course, the first bill should reed that any attemts to bypass, og otherwise infringe the constitution should be punished by death.

Thu, 08/23/2012 - 10:10 | 2730126 Anasteus
Anasteus's picture

""Nobody in their right mind will "buy" a Greek island for three reasons..." ...unless US Navy decides to step in and buy some.

Thu, 08/23/2012 - 10:14 | 2730141 vertexa
vertexa's picture

If it were China, gov't would rather default on its debt or implement 90% tax rate on every individual instead of selling lands. 

Thu, 08/23/2012 - 10:15 | 2730149 Jason T
Jason T's picture

The very same thing is happening in towns all across America.


Near where I live, the city of Ithaca NY is contemplating selling the land where there is the community garden to help plug the $2.5 million deficit.

Thu, 08/23/2012 - 10:19 | 2730162 Taterboy
Taterboy's picture

Gov. Brown: "Catalina Island is now for sale."

Thu, 08/23/2012 - 10:27 | 2730190 sessinpo
sessinpo's picture

Sweet. I remember visiting Catalina. Brings back fond memories. Now back to reality. FU Jerry Brown.

Thu, 08/23/2012 - 12:14 | 2730592 Freddie
Freddie's picture

Can we sell California to Mexico?

Thu, 08/23/2012 - 10:17 | 2730156 JR
JR's picture

Nobody cares? Nobody, that is, who is connected with the new landlord ruling class of Europe (the banker tyrants) or to the supporting financial media and the toady politicians. The voiceless in this catastrophe are the victims, the long suffering citizens whose lives have been bulldozed and exploited by this banker-politician partnership .

“Feudalism is becoming built into the American psyche at younger and younger ages,” already indenturing students, warns Andy Sutton, and those who think it’s because of incompetency on the behalf of Bernanke, “still don’t get it.”

Writes Sutton, “I contend he knows exactly what he’s doing as do the rest that actually set global financial and economic policy.”

Excerpt: Economic Collapse, We Still Don’t Get It |Market Oracle | Aug 17, 2012  

Many readers and clients have commented to me that this is the strangest recession they’ve ever seen and they are right…

We’re not alone in our near complete lack of understanding either. Europe, the poster child for greed and avarice, is further along in the game. Their currency has, for all intents and purposes, collapsed. As one country after another succumbs to consequences of its misunderstanding, the global banking syndicate stands ready with open arms to offer the bailout money in exchange for what amounts to indentured servitude. On a global scale, we are returning to Feudalism, and anyone who actually takes the time to do a little research will quickly conclude that Feudalism and the concept of the American circumstance as was envisioned by our founding fathers are incompatible….

Sure Bernanke went on television and ensured us that all is well and that our kids owing over a trillion bucks to banks is quite all right even though beyond waiting tables there are precious few opportunities for many of them. And we know how accurate Ben was on the housing and mortgage mess. About the only thing he’s been right about has been the ‘jobless recovery’ he promised back in 2009. Still think he’s incompetent? I contend he knows exactly what he’s doing as do the rest that actually set global financial and economic policy. The Congress is nothing more than a conduit for carrying out the policy directives of the global banking syndicate. You don’t believe me? What about Hank Paulson going around threatening Representatives with martial law in America if the TARP bailout wasn’t passed?

Sadly, America will fall just as Europe is falling. In many ways we’ve already fallen. Our sovereignty has been ceded to a banking cartel that creates its bingo chips from nothing, charges us to use them, and requires us to expend land, labor, capital, and scarce resources in order to make our monthly payments as a nation. Yet we sleep, totally unaware of the pillaging of the past 100 years. There is not a better example of the frog and the hot water analogy made so popular by those who have attempted to wake people up from this fatal slumber. We still don’t get it.

Thu, 08/23/2012 - 10:21 | 2730169 hannah
hannah's picture

the 'younger still dont get it' because they havent had to 'give it back' yet. when they cant and the boogey man starts a comin they will wake up....but at that point they will just curl up and die.

Thu, 08/23/2012 - 10:46 | 2730246 theTribster
theTribster's picture

Right on JR, +1. That's exactly right, they know what they are doing - it isn't stupidity although that's the claim everytime things apparently go wrong - meanwhile the ones making the mistakes are the ones getting richer and more powerful! Hmmm, doesn't take a genius to figure this out yet so many smart people believe otherwise - it amazing how well brain washing works.

Feudalism is the mindset of the poor and now, most recently, the entire middle class as we watch our lives get picked apart through indebtedness and manipulation - lies! No research required to understand this is not part of the Founding Fathers vision of America, clearly the American Dream has been torn apart and shredded into little pieces by the elite and ruling class - the same people that used the system to gain their power and wealth, now they want to destroy it so they "lock-in" the current state. This next election will finalize that condition in the USA, unfortunately both candidates will execute exactly the same plan regardless of thier bullshit, nonsensical rhetoric.

JR, this is the first set of comments I've seen that hit the nail on the head in terms of what is actually happening. Your right, we still don't get it. I listen to people argue about Mittens and Obama and am amazed at how completely naive and unaware they are of what is really going on. In fact, the vast majority have no idea what either has done in their political careers already. How many Obummer fans think he is different than George Bush? Well, he is in fact exactly the same in that he codified ALL of Geogies policies within 60 days of taking office - that's right ALL of Georgies policies re: the wars, tarp, gitmo, bailouts, disassembling the contitution and bill of rights, etc. To think there is ANY difference between Republicans and Democrats means you have been brainwashed by the system.

The most disheartening thing is to see young people fighting for one or the other, thinking they are doing good for the country when in fact they are a harbinger of its death - manipulation of mindset has been working and look to continue working - unfortunately!

Great Post! +1 For You.


Thu, 08/23/2012 - 11:02 | 2730322 Anasteus
Anasteus's picture

You're right. It's actually feudalism what's happening. But in contrast to old fashion amateurish middle age feudalism, this one has achieved something new, that villeins love their manacles. Industrial, electronical and other form of 'bread and circusses' have attracted childish immature minds so that they feel comfortably identified with the system, taking part in a big party. Congrats Rothschild, you've made a fool of everyone... or are you just showing us how naive and irresponsible we can be?

Thu, 08/23/2012 - 12:19 | 2730621 theTribster
theTribster's picture

Chris Hedges calls it: "The land of the Spectacle" where we focus on Michael Jackson's death and treat it as if he were some kind of marter when he was a known child molester. Reality TV. Soap Operas. A culture enamered with Zombies and werewolves (at least its not Unicorns). Our culture is manufactured by corporations. In fact, we could argue that our entire life is manufactured by corporations, if not manufactured certainly controlled.

Thu, 08/23/2012 - 11:41 | 2730457 theTribster
theTribster's picture

Excellent link to a great article, well written and simple enough to understand that I sent it to as many friends and family as I could think of that otherwise avoid understanding this type of thing (to their ultimate dismay).

I have to say that knowing what you describe as the state of affairs is incredibly disheartening and ultimately depressing, I have to constantly adjust my focus to other things so I don't get sucked into the depression associated with impotency - which is what I feel evertime I think about what the banks and gubmint are and have been doing to us! I don't have any faith that things will change, even after the coming reset. The Europeans have proven they can be constantly and repetitively fucked without really doing anything about it, sure a couple strikes and a few protests - big deal. Are we different in America? When will we stand up and take back our lives from the Aristocrats that control them?

At some point we'll have to stand up, right? I'm hoping that's the case and before it's too late, which many believe it is already. When will we have a Boston Tea Party event? When will we storm Washington by the millions and demand our country back?

When I think about the wars and the death and destruction caused only to increase the financial ballast of treasonous corporations, crony capitalists and crooked politicans it makes my heart race, at least it feels good to know I'm not the only one feeling this way. I've been saying this has been planned for over 30 years, every detail laid out, tested and re-tested over the last decades to insure the plan would work. Wars will be the ultimate outcome especially after the financial systems crash again, this has always been the case throughout history.

Let's hope we're smarter this time and realize that the wars are fabricated to take our eye and minds off the real issues that include stealing our wealth and taking our freedoms, while we fight and die to (theoretically) protect those same things. Its much more than criminal, its evil.

Thu, 08/23/2012 - 13:24 | 2730911 JR
JR's picture

Are we different in America?


And the reason is because America had its beginning in freedom and a significant percentage of its population still expect to live their lives in freedom. This contrasts with the experience in other nations of the world that have known societies where they were treated as subjects and not as equals.

The turning point in America is near for two reasons: first, freedom-loving people now see an oppressive government as their enemy and desperately seek reform; secondly, the exploiting class is on the verge of a move into a ruling class and they fear an uprising against it.

The measures these exploiters are taking will be the trigger to major changes in the way this country is governed; hopefully, peaceful. These measures have the ring of a police state: imprisonment and assassination of American citizens without trial, a major program to use drones to control the population, an increased desire to control the Internet, a increase in government weaponry and ammunition that could be used domestically, measures to greatly accelerate a low-information population through third world immigration, etc.

Daily we see the police state features: a U.S. Marine interred in a mental hospital because of comments made on Facebook, the clearing out of an entire jail in Tampa to make way for citizens to be arrested during the Republican Convention, the army of state and federal employees in levels never before seen, the use of TSA and surveillance cameras in more and more public venues aimed to condition citizens to government control…

These are the measures that are alerting Americans to the encroachment of a tyranny; very few more will be needed to bring on the backlash.

It’s important to remember that the American experience of free speech that you use so powerfully is based on a country founded on the principle of individual rights and a government operated through representation of the people themselves. Not so, for example, say in Britain. As Albert Jay Knock explains in his “Our Enemy the State”:

The British system “did not originate in the common understanding and agreement of society; it originated in conquest and confiscation. Its intention, far from contemplating ‘freedom and security,’ contemplated nothing of the kind. It contemplated primarily the continuous economic exploitation of one class by another, and it concerned itself with only so much freedom and security as was consistent with the primarily intention; and this was, in fact, very little. Its primary function or exercise was not by way of (Thomas) Paine’s purely negative interventions upon the individual, but by way of innumerable and most onerous positive interventions, all of which were for the purpose of maintaining the stratification of society into an owning and exploiting class, and a property-less dependent class. The order of interest that it reflected was not social, but purely anti-social; and those who administered it,  judged by the common standard of ethics, or even the common standard of law as applied by private persons, were indistinguishable from a professional-criminal class.”

It’s “common sense” alerts such as Paine’s and yours, Tribster, that IMO are turning the tide. Thanks.

Thu, 08/23/2012 - 10:19 | 2730161 sessinpo
sessinpo's picture

Will there be a groupon offering for the islands? Now that credit card companies want to know if you will use their product to buy women, can I get both at the same time?

Thu, 08/23/2012 - 10:22 | 2730174 hugovanderbubble
hugovanderbubble's picture

Merkel will request Rajoy for Mallorca and Ibiza me.

Thu, 08/23/2012 - 10:23 | 2730178 q99x2
q99x2's picture

The Chinese and Russians probably have a use for them. 

Thu, 08/23/2012 - 10:30 | 2730198 sessinpo
sessinpo's picture

The Chinese & Russians will have use for the islands or the Greeks? Or maybe you mean both. LOL

Thu, 08/23/2012 - 10:24 | 2730180 theTribster
theTribster's picture

I'm sick of hearing the tax thing, such bullshit. This whole fiasco was engineered 30 years ago and it has nothing to do with people paying taxes or not. This is all about transferring wealth from the middle class to the richest .01% while at the same time consolidating power and control to Brussels. The plan is working exactly as they predicted, before long the banks will start foreclosing on loans whether people are paying or not, these actions will be endorsed by the Gubmints as the only way to keep the system going....

I'm assuming you made that comment about taxes just to be funny, but it isn't funny because people are losing everything they own and have worked their entire life for - you fucking arrogant piece of shit! Funny it isn't, at least not for me having seen the devestation happening in Greece and Spain and Ireland first hand. Criminals are running the show and not just in Europe but the US, England, Canada, Australia....

The plan is global, so while it is focused on Europe right now it is coming to the rest of the western economies by the end of this year. The banks win, they will (or do) own everything and that's the whole game - ownership and control - of everything that matters! Look at JPM's position in various critical commodities, they control the pricing of virtually every major food commodity. I've said it before, Goldman owns the Gubmints and Countries while JPMorgan owns everything else. Thank God they would never collude together, no instead they work through the Fed which is controlled by the BoE which is controlled by Rothschild.

Kill a Rothschild, save the world! There are many others (Rockafucker included) in this elite circle but its controlled by Evelyn Rothschild - plain and simple. Biggest holder in BoE is Rothschild and the biggest holder of the Fed: BoE. Someday the world will wake up and these people will be removed from power in a very unpleasant way - think French revolution and the term: "Heads will roll..."

Kill all bankers worldwide and then let God sort out the good from the bad, only He can do a fair and unbiased job that will restore confidence and set things straight again. While Rothschild should be the first to go I'd actually much rather see Jon Corzine be torn limb from limb - like the Romans did to the Christians for a few hundred years. Then get all the politicians in Congress, the Executive and Judicial branches for the last 20-30 years and ut them in prison, sorry Ron and Rand but you go as well until you prove your innocent, that's right politicians are guilty until they can prove innocent - if not either death for treason or life in prison with no possibility of parole.


Thu, 08/23/2012 - 11:39 | 2730444 JR
JR's picture

The Fed/ECB and their captured politicians cannot spend nations into prosperity, it’s absurd to think they can create jobs that will last by taking money from some people to give to other people at the same time they use the false premise of QE to expropriate the property of producers to profit themselves; prosperity, true wealth, comes from productivity—taking raw materials and producing goods. The global banking syndicate produces nothing, of course, but they can create socialism. A major step toward socialism in The Communist Manifesto is the establishment of an economic dictator (Rothschild et al. as you say): “Centralization of credit in the hands of the State, by means of a national bank with State capital and an exclusive monopoly,” i.e., the Fed.

We’ve been hijacked.

We’re in agreement, Tribster. Well said. Thanks!

Thu, 08/23/2012 - 12:12 | 2730581 theTribster
theTribster's picture

Yes we are, the link you provided was an excellent read. Always nice to read something that is concise, accurate inline with my thoughts exactly. A new Blog to add to the list, the top along with ZH.

Should be an interesting several months as we maneuver through the obstacle course of elections, more central bank interventions, even more European chaos, referendums and the inevitable expanding conflicts in the middle east, Africa and I suspect elsewhere (China?). As the balance of power shifts we are likely to see some desperate and even crazy actions taken by Gubmints and politicians here and abroad. 

I think its getting close to the time where it makes sense to withdrawel from the system as much as possible, I've been making this migration for a few years but we are clearly in the endgame now so its time to step-up the efforts and move remainging assets to Au and Ag (and other physical assets). Hard to believe we are going to live through (hopefully) what will probably be the most chaotic time the civilised world has ever known, and it will almost certainly usher in a new model for societies, financial systems and, hopefully Governments.

Destroying culture and sovereignty under the guise of progress can't be the right answer! Trying to create homogeneity in Europe is not the right answer for Europe or for the world - losing 1000s of years of culture has to be the result otheriwse consolidation of Governement and financial systems cannot work. Silly it is, but a lot of people are getting rich and a lot of people are finding themselves with lots of power and control they otherwise could only dream of (talking about the Brussels appointed technocrats).

Keep writing and posting...Good stuff.

Thu, 08/23/2012 - 10:28 | 2730195 PatientZero
PatientZero's picture

Damn it, I was hoping I could buy a Greek island and make it my personal fiefdom and declare myself Emperor or something. Or maybe even a libertarian paradise.

Thu, 08/23/2012 - 10:30 | 2730199 Oldrepublic
Oldrepublic's picture

actually it is not a bad idea, for example in 1917 the US government purchased the Danish West Indies for $25 million. Transferred sovereignty to the US, so all the former Danish subjects there became US citizens or nationals. I doubt that the Greek government or the EU would allow such a thing now, but if such a thing was legal a private group could set up a really free market type government. Max Keiser should look into such a proposal

Thu, 08/23/2012 - 11:51 | 2730501 theTribster
theTribster's picture

I don't think the islands they are talking about selinng have any population or any infrastructure to speak of either. The Italians are selling over 300 castles, there's a hell of an investment - moat and all! Unfortnately, as someone else said here, the next iteration of the Gubmint will likely declare those sales illegal anyway so it'd be a pretty risky acquisition even at incredibly discounted rates.

Would be nice to own a Greek island though, I've not been but some friends took a honeymoon there and said it was beyond beautiful (although pretty primitive in terms of onfrastructure, at least where they went). The banks have or will end up with everything in these countries, that's the end game afterall - transfer as much wealth and sovereignty as possible. They know this could be the last iteration of the current global financial configuration, after this next crash the world will liekly demand something a little different - unfortunately the old adage: "the more things change the more they stay the same" will probably apply to whatever comes out the other side. We can be sure that's the intention anyway.

But, back to me on a hammock on my own personal Greek island. I'll save everybody from ZH a place to hang after the crash, my island will only except Gold and Silver -:)

Thu, 08/23/2012 - 12:16 | 2730603 Zola
Zola's picture

Is your name Mulligan ? Keep me/us posted.

Thu, 08/23/2012 - 10:48 | 2730261 Ljoot
Ljoot's picture

All your island are belong to us.


Thu, 08/23/2012 - 10:51 | 2730269 Dead Canary
Dead Canary's picture

Oh pa-leeze! This is Greece we're talking about. They are NOT going to sell islands. Just more smoke and mirrors to get another bailout.

Thu, 08/23/2012 - 10:52 | 2730281 KickIce
KickIce's picture

Que the bankers who after creating money out of thin air now get to trade that for hard assets.  Largest.  Scam.  Ever.

Thu, 08/23/2012 - 10:59 | 2730301 nokomarie
nokomarie's picture

Save one for Larry Ellison!

Thu, 08/23/2012 - 11:01 | 2730309 TheRealMrNatural
TheRealMrNatural's picture

"No rehypothecation is an island, entire to itself..."

Thu, 08/23/2012 - 11:09 | 2730344 e-recep
e-recep's picture

"And to think all of this could have been avoided if Greece simply collected taxes...."

wtf?? some keynesian dumbfuck must have stolen tyler's account.

Thu, 08/23/2012 - 11:28 | 2730419 Fantasy Planet
Fantasy Planet's picture

I'm looking for investors. 

Thu, 08/23/2012 - 11:36 | 2730434 gorillaonyourback
gorillaonyourback's picture

What an idiot," blah,blah,blah could have been avoided if they collected taxes."
This idiot author doesn't deserve an education from me.

Thu, 08/23/2012 - 12:23 | 2730644 OldE_Ant
OldE_Ant's picture

I still think someone needs to do an IPO called 'the new country' that was dedicated to making a floating island country in the oceans, self military and all.

No way anyone is going to go for this if the land is still 'ruled' by the 'host country'.  Perhaps they should sell 'self ruling city or island states' with certian guarantees and maybe, just maybe people would get interested.

I would demand ocean access (which Greece has).

Somehow I don't think it'll ever happen.  Any govt entity can dream about 'selling' land to pay the bills, but somehow I don't think too many people will get excited about buying.

End of Line

Thu, 08/23/2012 - 12:45 | 2730753 Joebloinvestor
Joebloinvestor's picture

All one has to do is research what happened to the people who built retirement homes on prime Baja real estate.

Thu, 08/23/2012 - 13:23 | 2730905 bugs_
bugs_'s picture

High Yield Islands

Thu, 08/23/2012 - 14:01 | 2731072 ImnotPOTUS
ImnotPOTUS's picture

Goldman is going to hold out until they get really desperate.

Next round is going to be Island for Sale, includes relinquismnet of soverign rights.

Goldman will happily fork over 200 billion in playmoney euros to have it's own nation state. Just need something big enough for a sattelite data center and an executive retreat center.

Goldman Bucks and Coin Sachs the new global currency.

Thu, 08/23/2012 - 14:36 | 2731226 fiddy pence haf...
fiddy pence haff pound's picture

it's a lot more than just taxes.

Anybody gonna get rid of hedging and derivatives and the phoney spreads on the debt insurance

market which is just a feeding frenzy for vultures. Stop that, and Greece is fine. 

Greece is being colonised by France and Germany. Arms sales and bridges to nowhere-but-debt. If you cancelled

all those, then Greece would be fine. But FR/Ger don't want that. They've penned a deal since the Troika arrived,

and Greece had no say in the matter. Those boys gambled and now the EU is their collection agency.

The Euro has done lots of harm. Bubbled the economy, and raised wages so everybody bought good, foreign stuff

and Greek factories tanked.

Then globalisation is murder for small countries. They get overrun by the Economies-of-Scale Tanks, and

manipulated, as above.

THe politicians are corrupt, but they can't do as much harm as France Germany and those others.

The rich get away with tax evasion and offshoring because they're buddies with politicians.You stop offshoring

and Greece is ok, but it'll never happen. It's globalisation time. You'd have to do an Argentina.

The next level down, the factories didn't pay because the government let them off the hook,

since those companies couldn't compete with foreign co.s (cuz of globalisation),

so the gov kept the companies alive. They owe back taxes, pension money, you name it.

The people , seeing all this, and having a really poor infrastructure, especially before the Euro Construction

mafia showed up, were just saying "I'm not making much money. I gotta pay for hospital expenses and

a lot of education, so I won't pay tax to the plumber".

A large chunk of the population wanted to work for the gov, and the gov allowed it, to buy votes, and because

they had German-style credit ratings and the taps wide open. They did so because working in the private sector

is really precarious, with shitty pay and shitty bosses and even shittier health care. third- class citizens.

Now, you got people telling Greece to be good citizens and pay their taxes when banks/EU/Ger/Fr are tearing

the country apart, and I didn't even get into the freedom train for illegal migrants which is swamping

Greece.You picked the wrong time for righteousness, malaka.

Thu, 08/23/2012 - 15:53 | 2731505 ejhickey
ejhickey's picture

I would buy one of these islands if the price was right and I could officially rename it.  It would have to be a name that was not even remotely Greek sounding.  How does "Hickey Island" sound?  Oh one more thing:  No Greeks allowed,  not even anyone who looks Greek.  Hillbillies and Rednecks are OK if they can run a stil and are proficient with firearms.

Thu, 08/23/2012 - 17:06 | 2731647 AGORACOM
AGORACOM's picture

Just wait until Goldman announces that each island has already been mortgaged into 1000 different CDO's .... at least you don't have to worry about receiving robosigned "letters".

George ... The Greek ... From Canada

p.s.  For some levity ... watch Mr. Panos theory on how the Greeks have the world right where they want them ... avoid drinking any liquids while watching ... its a laugh

Sat, 08/25/2012 - 00:29 | 2732741 monad
monad's picture

Looking for a warm water port, but don't really want to invade Turkey or Syria? Are the Alps in your way? Treaties limiting your strike range? Come on down to Crazy Herman's Greek Auction! Don't worry about the paperwork, just bring your bullion and we'll set you up with all the permits you need! Buy these islands!

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