Negative Salaries, Negative Bailout And Now Negative Gold - Greece Just Became The Bankster's Paradise

Tyler Durden's picture


While Iceland is now known as the country that is the closest earthly approximation to banker hell, it is safe to say that Greece is the terrestrial equivalent of banker heaven. Because as explained earlier today, the country's population is about to get a worse deal than your average run of the mill slave - they may get whipped, but at least never have to pay for the privilege, unlike the Greeks. Hence negative salaries. As also explained, the European bailout of Greece, is now formally a Greek bailout of Europe, funded by the country's already negative primary surplus, or better said - deficit (don't try to make mathematical sense of that - a scene out of Scanners is guaranteed). Hence, negative bailout. But the piece de resistance, and the reason why Greece is the in situ version of bankster heaven is the news from the NYT that Greece is also about to have negative gold.

Ms. Katseli, an economist who was labor minister in the government of George Papandreou until she left in a cabinet reshuffle last June, was also upset that Greece’s lenders will have the right to seize the gold reserves in the Bank of Greece under the terms of the new deal.

Well, they may be broke, and they may be bailing out Europe, but at least they'll have no gold: sounds like a sweet deal - it makes perfect sense that Greeks are taking every incremental humiliation from a syndicate of few fat, bald types who have access to a digital money printer, with the supine determination of an Oliver Twist.

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Wed, 02/22/2012 - 16:59 | 2186275 Transformer
Transformer's picture

Now, it all makes sense!!

Wed, 02/22/2012 - 17:07 | 2186300 vast-dom
vast-dom's picture

all is farce.

Wed, 02/22/2012 - 17:09 | 2186323 markmotive
markmotive's picture

Fitch on Greece: "Default is highly likely in the near term"

Wed, 02/22/2012 - 17:10 | 2186331 BaBaBouy
BaBaBouy's picture


Wed, 02/22/2012 - 17:18 | 2186373 Dr. Richard Head
Dr. Richard Head's picture

I think this was the tradition Ben "Bam-Bam-Bankster" Bernanke was referring to.

Wed, 02/22/2012 - 17:19 | 2186380 Vagabond
Vagabond's picture

Is it time to roll out the guilotine yet?

Wed, 02/22/2012 - 17:26 | 2186399 BaBaBouy
BaBaBouy's picture

"" Greece’s lenders will have the right to seize the gold reserves in the Bank of Greece under the terms of the new deal. ""


Wasn't This The Troika "MASTER PLAN" All Along ?????????


I.E. Seize The Greeks Fucking GOLD ...

Wed, 02/22/2012 - 17:29 | 2186424 flacon
flacon's picture

They should have picked on Italy, there is a shit-ton of gold in Italy. 

Wed, 02/22/2012 - 17:31 | 2186431 john39
john39's picture

one thing at a time... all in good time.

Wed, 02/22/2012 - 17:39 | 2186470 mkkby
mkkby's picture

Lets hope the Greek people have plenty of negative gasoline, matches and rope, and know where to find their nearest bank branch.

Wed, 02/22/2012 - 17:44 | 2186487 trav7777
trav7777's picture

the greeks should retaliate by doing negative work at their jobs...oh wait, scratch that, that's already what they do.

well, i'm fuckall out of suggestions.

Why would the creditors want gold?  You can't eat it and it's barbarous

Wed, 02/22/2012 - 17:49 | 2186505 gmrpeabody
gmrpeabody's picture

All your gold are belong to us...

Wed, 02/22/2012 - 17:55 | 2186532 DoChenRollingBearing
DoChenRollingBearing's picture

Greece to foreign banksters:

"Molon Labe"

Wed, 02/22/2012 - 18:00 | 2186547 smiler03
smiler03's picture

I want to puke.

Wed, 02/22/2012 - 18:05 | 2186565 The Big Ching-aso
The Big Ching-aso's picture




Wed, 02/22/2012 - 18:07 | 2186579 bigkahuna
bigkahuna's picture

Banksters are testing to see how far they can push a country before it's people take it back.

Wed, 02/22/2012 - 22:44 | 2187584 StormShadow
StormShadow's picture

Try that shit here...just try it.  No doubt there's a lotta damn sheep here that'll roll over and take it.  But I know more than a few sheepdogs who won't.

Wed, 02/22/2012 - 23:28 | 2187702 Harlequin001
Harlequin001's picture

I seriously doubt that...

Thu, 02/23/2012 - 01:02 | 2187900 CH1
CH1's picture

I know more than a few sheepdogs who won't [take it].

The problem is that word won't. It's always in the future.

"One more insult, and I swear I'll...." And of course it's always "just one more."

If they're not getting off their asses now, they'll probably stay right there for the duration.


Wed, 02/22/2012 - 18:12 | 2186596 Dave Thomas
Dave Thomas's picture

It would be easy enough if you were a greek worker to actively sabotage assets the bankers want. Unfortunately making ugly what the banks want involves a bit of self inflicted pain. Surpassing this pain envelope is what the squid fears the most, thats why they shroud all their "new deals" in such finesse.

Wed, 02/22/2012 - 18:38 | 2186709 Motorhead
Motorhead's picture

Not in my backyard!

Wed, 02/22/2012 - 18:04 | 2186562 Waffen
Waffen's picture

If the deal has been signed and the gold is not in Greek possesion I would say its game over.   It would be like Leonidis saying Molon Labe and then realizing that his men already gave away their weapons.


Leo: Come and take it!

Xer: What?

Leo: Our weapons.

Xer: lol

Leo: Oh wait.. shit.

Xer: yep time to kneel

Wed, 02/22/2012 - 17:54 | 2186525 macholatte
macholatte's picture

Hello, Anonymous?

Was that you making threats or promises?

Now would be a good time to put up or shut up.



Thu, 02/23/2012 - 00:07 | 2187784 BobPaulson
BobPaulson's picture

Indeed. Every empty promise weakends them.

Thu, 02/23/2012 - 08:47 | 2188535 Obadiah
Obadiah's picture

How do we know what words are THIERS?  Seriously??? trust, verify, then send in the nuclear bennybuks

Thu, 02/23/2012 - 09:32 | 2188599 bernorange
bernorange's picture

Why would the creditors want gold?  You can't eat it and it's barbarous - trav7777


Wed, 02/22/2012 - 19:12 | 2186881 Silver Alert
Silver Alert's picture

Bankster justice: From bank branch to tree branch.

Wed, 02/22/2012 - 17:31 | 2186433 BaBaBouy
BaBaBouy's picture

... GUESS Who's Next ...

Wed, 02/22/2012 - 18:39 | 2186713 beaker
beaker's picture

I'm as bullish on gold as the next guy. Just beware that if you believe these markets are manipulated, do not disregard the possibility that gold SALES coud be taxed at 50% (or pick a number).  Or even if they talked about doing this, guess what would happen t gold prices?  What a cool way for the banks to scoop up more gold!

Gold bulls, just beware that we are not bullet proof.  They can still get ya....

Wed, 02/22/2012 - 18:49 | 2186770 HurricaneSeason
HurricaneSeason's picture

Compare the price of marijuana per ounce to tobacco per ounce. One is at least 50 times higher for basically the same thing, except the tobacco is heavily taxed or it would be much cheaper. If gold becomes illegal in the U.S., the price could just as easily explode. They cant tax the world yet, but that's Obama's new idea.

Wed, 02/22/2012 - 20:55 | 2187246 Xanadu_doo
Xanadu_doo's picture

"basically the same thing"


have you ever been high?


Wed, 02/22/2012 - 21:42 | 2187441 fourchan
fourchan's picture

who was saying theres no "new world order"?

Thu, 02/23/2012 - 00:02 | 2187779 HoofHearted
HoofHearted's picture

I saw a guy selling glass jars outside of a big college football game. These were nothing special, but they were going for $200 a pop. What you had to do was look at what was inside the glass jar- a ticket to the day's with your purchase. "I'm not scalping!!!!"

We're all smart enough to find ways around, to barter for what we want or need...they can keep on trying to pin us down.

Thu, 02/23/2012 - 08:14 | 2188503 thewhitelion
thewhitelion's picture

The gold in an IRA is one thing.  The gold in a citizen's possession is a bit more problematic.

Wed, 02/22/2012 - 18:44 | 2186748 blindman
blindman's picture

Constitution Halts Sheriff
Posted on February 22, 2012 by maxkeiser

Wed, 02/22/2012 - 23:42 | 2187747 azusgm
azusgm's picture


Thu, 02/23/2012 - 00:52 | 2187890 blindman
blindman's picture
Stable Water Clusters
Most of us think of water as an everyday object, not realizing that, for scientists, water remains complex and mysterious.

Thu, 06/21/2012 - 10:44 | 2547096 DOT
DOT's picture

I hope they call it Ice-9.

Thu, 02/23/2012 - 00:11 | 2187796 Real Estate Geek
Real Estate Geek's picture

Iran, with 907 tonnes just sitting there waiting to be liberated.

Wed, 02/22/2012 - 17:34 | 2186448 Rip van Wrinkle
Rip van Wrinkle's picture

Give it time, just give it time.


Why the hell was Monti put in charge? Papademos Mark 2....on steriods.

Wed, 02/22/2012 - 17:51 | 2186512 Dr. Richard Head
Dr. Richard Head's picture

Apparently he was put in charge to get the gold.  Arrrrrrrr

Wed, 02/22/2012 - 18:01 | 2186550 Ancona
Ancona's picture

They should put Nick Papageorgio in charge.

Wed, 02/22/2012 - 18:23 | 2186633 Bwahaha WAGFDSMB
Bwahaha WAGFDSMB's picture

Greece is to set the precedent.

Wed, 02/22/2012 - 17:39 | 2186468 irishlink
irishlink's picture

Where is Bono ,Bob Geldoff and sundry now? The Greek people would be as well off under a mad dictator like Mugabee because this is where the country, Greese is heading . An Irish teacher who is married and living in Greece for the past 30 years spoke the other day , explaining how children are fainting in school with hunger and that mothers are voluntarily placing their children in care as they are unable to provide for them , Who will have the strengt  to call an end to this farse? 

Wed, 02/22/2012 - 17:55 | 2186529 CH1
CH1's picture

Bono and Geldoff are statist sycophants.

Wed, 02/22/2012 - 18:51 | 2186773 NotApplicable
NotApplicable's picture

That's far nicer than I would've put it.

I saw Peter Gabriel perform last year, and was extremely saddened to hear how his own good intentions only serve these same elite forces of evil. Although, unlike the two "Sirs" you referenced, I don't think Pete has a clue. To him there is no connection between the poverty industry and poverty itself, or the political movement industry to anything negative that is politically driven. Nope, they are all just taken as a given "good," never mind they are one of the main reasons these problems exist in perpetuity.

I just know I'll never waste my money again to listen to him preach idiocy to aging Boomers and their stupid kids.

Wed, 02/22/2012 - 21:51 | 2187465 A Nanny Moose
A Nanny Moose's picture

I'll stick to Rush, thank you very much.

So the maples formed a union
And demanded equal rights
'The oaks are just too greedy
We will make them give us light'
Now there's no more oak oppression
For they passed a noble law
And the trees are all kept equal
By hatchet, axe and saw



Thu, 02/23/2012 - 00:10 | 2187794 BobPaulson
BobPaulson's picture

Thumbs up for Rush. I think 2112 is a good metaphor where instead of discovering the guitar, the guy discovers gold as a currency and proposes it to the priests to replace fiat.

Wed, 02/22/2012 - 22:49 | 2187598 StormShadow
StormShadow's picture

Bono's own band can't stand his ass.  Seriously, go to their concert and watch their faces when he starts talking all his crap about his charities.  They roll their eyes the whole time.

Thu, 02/23/2012 - 22:22 | 2191496 matrix2012
matrix2012's picture

"An Irish teacher who is married and living in Greece for the past 30 years spoke the other day, explaining how children are fainting in school with hunger and that mothers are voluntarily placing their children in care as they are unable to provide for them"




Does above hardship affects a big portion of Greek society or just some individual case? How severe it is? Just cant imagine that Greek people do not have enough food to feed themselves...



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