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Things In Europe Just Getting Worse By The Minute
The latest out of the doomed continent:
- EURO ZONE DEBATING DELAY OF EUR5.2B MAY 10 PAYMENT TO GREECE - DOW JONES
- SOME GOVERNMENTS CONCERNED ABOUT MAKING A PAYMENT TO GREECE AMID POLITICAL TURMOIL
And so the check bounces, which is ironic, because as we repeatedly explained, the Greek bailout is not about Greece: it is merely to allow Europe to bailout its banks via ECB and Troika funded interest payments and using Greece as a passthru vehicle. Luckily, that particularly aggravating farce may soon be ending.
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Fuck you Rothschilds! Fuck you Bernanke!
Here comes the bankster counterpunches. I expect Greece's "bold new leadership" will fold like a bad poker hand when they realize their government will collapse without the credit they are addicted to.
I don't know. They elected some idealogues. They may say, "Screw the eurozone, we'll go back to drachmas on our own."
They did suck out a lot from the Germans over the past 20 years. This may be the time to say goodbye, take what they have gotten, and run like hell.
What's that Panzer division about??? Nevermind...
Well I tend to agree that's what they should do, I just don't trust any politicians to have the guts to do it.
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Dancing at the end of a rope is a more suitable punishment for thieves, is much less messy and is an entertaining alternative.
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I'll invest!
Lol populist talk is cheap
Not so cheap in Iceland. Theres the model for all, tell the bankers to piss off.
True, but calculating Scandinavian fisherman are different than angry Mediterranean pensioners.
This was inevitable. No agreement = no instalment
The whole bailout was predicated on verified compliance by permanent EU/IMF monitors in Athens. And that was the only way the former Greek Govt could get their 20% cut of the bailout euros, plus get debt writedowns, so thus much less interest on what debt remained.
But spreads still ate these euros up anyway.
So such compliance incentives are now moot, as they were not worth the economic/social pain and political slaughter anyway. And that has also killed tourism.
They have two options, get out of the euro now or comply for a few more months ... until the next sugar-daddy-hit of bailout negotiations rolls around.
I don't think compliance is a political option in Greece, and Germany has wisely already said there's no-go on re-defining the recent agreement.
Yes, this situation just changed-up a gear.
Don't forget about the other Luciferian ruling familes. They have just as big a part in this as the Rothschilds.
A better system after this would be one where people can take care of themselves, rather that the current one where we depend on Overlords.
Debt is slavery.
Freedom above all else. Free yourself. Help free others.
Sic Semper Tyrannis.
http://en.wikipedia.org/wiki/Sic_semper_tyrannis
Plunge Protection Team...Please report to Chairman Bernancke's office.
After Europe closes, PPT will do its magic
If I was a Rothchild
daidle deedle daidle
I wouldn't have to work hard
daidle deedle daidle
Looks like a Rothschild and Ben Shalom have a dissenting opinion.
Would this be a good time to buy Eurpoean debt???
If you like catching falling knives, be my guest.
BTFD! I guess the word didn't get out clearly yesterday.
It'll all work out, we promise.
Priced in Drachma, Francs, and such?
Sure. Bunds make alltime highs day after day.
I just saw all the miners down big. Went to take my morning dump and now some of them are green. What I miss?
I recommend an evening dump, sir.
Hey.
When a man's gotta go......well, a man's gotta go. :)
Gold might be sh!t......but it's the only sh!t worth having.
If you think about it technically, you should take three dumps a day.
Only three?
You had more buyers further to your dump?
Look, it's not our job to give you up to the minute blow-by-blows every time you need to take a Corzine...take your iPad onto the iPot, if you wanna be "in the loop". ;)
You can't run a ponzi with such anti-farce conditions.
And what does all of ZH say about the ECB thinking about suspending payments???
"No shit, Eurocrats. Greeks, nobody could have seen this coming. Nobody."
Let's just go ahead, bounce the check, and get the whole Keynesian ponzi collapsing already. Then we can clear away the dead bodies and start anew.
It's playing out like a Tom Clancy novel. When do the good guys win?
Yup. Sure looks like a "Clear and Present Danger" to me.
http://en.wikipedia.org/wiki/Tom_Clancy
Good guys? There is the quick and the dead. Same as it ever was.
In a minefield, they're often the same person.
Speaking of the "Good Guys"......check out this US Military document on how the FEMA camps (titled "Interment and Resettlement Operations" and dated Feb 2010) will be supervised and run. Here it is in black and white folks. An Army spokesman helpfully informs us that it is intended only for foreign detainment camps despite the clear language inside (such as using the detainees Social Security number as an ID) that indicates it is for domestic use.
Mr. Cog,
I'm still hoping that the military fights for the citizens
False hope is what truely binds (and blinds) us.
Read that one a few months ago, they've clearly had this mapped-out for years.
This is what they'll do with the neo-revolutionist rabble. Gitmo for disgruntled citizens, and you can bet the treatment will be the same. Indefinite detention, torture and supra-judicial execution, with extreme prejudice (and selling the body parts of course).
They've been planning to setup concentration camps when the collapse arrives, boiling-a-frog style. That's why FEMA had to exist, the Feds were planning to create an 'Emergency' (that would be us), to 'Manage' with Federal agents.
At least the Commies didn't disguise the nature of the Gulag re-education as labour slaves, and nor did the Nazi's disguise what the Gestapo was.
If the UN had a shred of decency or honesty about it, it would move its headquarters to somewhere like Iceland - immediately - assuming Iceland would even agree to take in several thousand parasites and assorted hangers-on.
There are still many, including here on ZH, who simply can't believe this could is happening.
Good guys win in novels. The squid and the super squid win in real life. When was the last time the good guys won?
""The path of the righteous man is beset on all sides by the inequities of the selfish, and the tyranny of evil men. Blessed is he who in the name of charity and good will, shepherds the weak through the valley of darkness, for he is truly his brother's keeper, and the finder of lost children."
You have not read or been watching Game of Thrones. Its appeal is the good guys don't win.
Mrs Cog has me watching Game of Midgets. Very depressing. :)
But I'm sure she appreciates the popcorn and your expert commentary each week. Wait, the Cogs have HBO?
HBO was Mrs. Cog's idea. She is definitely a corrupting influence.
Don't tell her I said that. OK?
Did Mr. Cog at least successfully lobby for Cinemax?
I had to hold the line somewhere. Someone has to look out for Cog's soul. :>)
I can get the Playboy Channel on my iPhone of that's what you mean?
But, but, but... Doug Kass said buy in May and go away? Did he mean that if you buy in May, you will be gone permanently? Confused.
The issue which has swept down the centuries and which will have to be fought sooner or later is the people versus the banks. --Lord Acton
Guess we're about to figure it out now.
Someone quoted that in the friggin' pub the other night. Accurately too. The guy's a builder / handyman and often fond of the sound of his own voice, but it doesn't mean he's necessarily stupid. And, if that sort of thing is regularly cropping up in bar-room conversations (and here in Wales it increasingly is!) then things are inevitably going to get very interesting.
What gets me at the moment, though, is the UK govt doesn't seem overly concerned about the Eurozone, global economy, et al. They're obviously saying these things are important, but there isn't the general tone that they're really the massive deal we all think they are. What gives? Do the banksters / pols have a few more cards up their sleeves somewhere? Or do they know something we don't - something's gonna happen that will make the current death-spiral economic antics look like small potatoes?
I'm generally pretty good at picking up the actual plot through the waves of weasel-word bullshit the govt and MSM like to spout but, currently, I'm confused; they don't really seem that worried! And every indication says they should be!
I get the feeling it's something to do with sand and ostriches.
I think I got screwed. I bought the 3000% yield Greek Bonds....I hear they are now selling 4000% yield Bonds.
Crap!
I bought too soon.
It is safe to say that buy and hold suddenly has a whole new meaning to it.
The sooner greece pulls an iceland the sooner the recovery
as the city burns, CNBC is still suckingoff Farcebook!
Potential ad revenue attracts media whores like a steaming pile of manure attracts flies.
You have to give them credit for one thing, they're in tune with the masses.
Is this a Default yet?
Greece and the rest of the world will soon have to come to grips with the impossibility of Greece's debt position. Once this is done the way will be found to confront the impossibility of Spain's debt position, Portugal and then one day Japan's and the USA's.
No neat solutions exist, just realistic ones.
And the way they will get over the debt position is by writing it off.
Politicians just can't understand why math is so damned inflexible.
Why can't two plus two equal seven, if we pass a law declaring it is so?
R-E-S-P-E-C-T, you little pissant numbers!
Earlier in US hisotry, the Indiana legislature thought about passing a bill declaring that the mathematical constant pi is actually 3 without that pesky .14159....
Give a legislator an idea, and he just might run with it.
Majority of the debt is now out of private (bank) hands and rests at the ECB, right? So any payments to Greece are essentially left pocket / right pocket transactions. Well, if the left pocket isn't going to put the money in the right pocket, why put money in the left pocket in the first place? The fact that this is even being "debated" is comical.
Just letting the Greeks know what life on their own would be like. Greece isn't going anywhere, despite the 20 stories posted daily to the contrary in anglo media (cough ZH cough).
Shit, if this keeps up the Dutch beaches are going to be very crowded this summer. Hey Fritz, where's my bike?!
...and now this:
"Credit Suisse opens German property fund for 1 day"Credit Suisse's CS Euroreal, an open-ended property fund that stopped taking sell orders when it ran out of cash, will reopen for one day on May 21 to decide its fate."
http://www.reuters.com/article/2012/05/09/creditsuisse-euroreal-idUSL5E8...
To the investors of CS Euroreal Fund:
https://www.credit-suisse.com/de/real_assets/doc/cs_euroreal_052012_en.p...
"Greece as a passthru vehicle"
Greece. The large intestine of the financial system. Looks like the EU might be pulling out.
This might be interesting.....
Will TPTB let their crony banks fail to teach the Greeks a lesson?
Or
Will TPTB save their crony banks and teach the Greeks a lesson.
I think they will save the crony banks but no one will learn the lesson.
Looks like a staged violent uprising in Greece, which NATO will have to put down, and install a 'temporary' Government, is in order.
Greece still cannot agree on forming a coalition government. This will make for some drama when the EU appoints a technocrat to be the PM. In the end they got exactly what they wanted Greek politicians who cannot come to an agreement on the new government. Problem solved for them.
I thought the crumbling of the EU would cause fear and a spike in AU/AG. Had I known it would be deflationary, I would have sold a long time ago. What gives?
Not so sure it is deflationary....just dollar "strength" as compared to the other fiats.
And soon enough we'll see everyone realize that the USD is just another piece of paper like the euro. But I do wish I hadn't bought silver at 30 and gold at 1600. Should have waited a little longer...the price average would still be fine except for that damn boating trip.
I bet the Greeks lie again to get that 5.2 billion.....but it never makes it back to the Northern European banks....it will stay in Greece.....
Not gonna happen... it's election time in Holland; one of the net contributors.
People here have had it with Europe in this way; so parties who approve will get slaughtered september 12 in national elections. They know this so they either don't make a decission or make one in favor of the electorate. They love the way the seats smell in parliament...
They definitively do.
Wasn't there a (GOP) republican representative who sniffed a seat some democrat female rep was using? I can't find those reports now but that was in early 2011 IIRC.
In some ways this all reminds me of the late 1930s and the confrontation over Poland. The Germans had already invaded, the Brits had declared war, but the French wanted to keep talking. As if events could magically be undone.
The Europeans have this amazing propensity to think if they just keep talking that reality will just pass them by. Face it, the Euro/EU/ECB/EMU is broken, there is no fix except to abandon the socialist/free lunch/goodies for everyone mind set.
America has the same disease, it just has not reached here yet.
sschu
It will be here 1 January.
It will be here 1 January.
Very possible. That transcript from the Stockman interview is pretty powerful.
sschu
Look at the charts for Spain. EVERYTHING is crashing - house prices, bad loans, unemployment, real GDP, Spanish Central Banks turns on the spigot BIG TIME!!!!!!!!!!!!!!!!
Spain’s Pain Continues to Accelerate – Banks, Housing, Bad Loans, Unemployment, Nosediving GDP – Time for More Sangria!
http://confoundedinterest.wordpress.com/2012/05/09/spains-pain-continues-to-accelerate-banks-housing-bad-loans-unemployment-nosediving-gdp-time-for-more-sangria/
It is amazing that after 70 years we are back in almost exactly the same place as we were in pre WWII and for basically the same reasons - debt that cannot be paid back! Wow, history is definitely repeating itself here. The old feelings are bubbling through once again and leading Europe back to the fringes of war and mass confiscation. They've (France/Germany) already took most of Greece's Gold and they own most of their infrastructure, how does Greece unwind from that?
Maybe Greece exits the Euro and then nationalizes, through what would now be confiscation of thei critical assets - like infrastructure, healthcare, and so on. I cannot wait for a new currency out of Europe - it changes everything, even though Greece is small. It is definitely best for Greece to exit, otherwise they will be debt slaves to the Germans for the next 1000 years, literally!
Good luck Greece, kick the troika scum out and take control back....
Why hurry if you can smile..make a few handshakes...and get another 5.2 Billion in a couple of days...
It may appear to some that there are problems in Europe.
Relax. This will all be sorted out and dealt with by the appropriate
media sources.
Dow green by 4 pm.
Think Happy thoughts!
i wonder what they will come up with now?
it's all good.
the greeks are a smart people. very civilized, very intelligent, and they know how to play they underdog-role. don not underestimate them. they will fuck the EU; first take the money, then force a haircut in bonds, then leave the eurozone, and then never pay anything back. they are very smart. and they have a beautiful land.
that works fine until the bombers fly in and slabs of your country get redrawn into others
why don't they pay the banksters directly, that way they get 100% not 82%
/sarc
exactly - the bankers love black holes like wars and natural disasters. Bankruptcy needs to come back in fashion
You call it a problem, they call it sticking to the plan.
by the minute...