What Is Going On With The PSI For Greece?

Tyler Durden's picture

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Life of Illusion's picture

 

But it puts it directly on the EFSF guarantors.

 

And what are they collateralized with, privatizing public assets. “REAL ASSETS” not paper.

SheepDog-One's picture

You know what their real problem is? There are no 'real assets', only things claimed by us microbes spinning around the universe on a rock. 

The Australian Aboriginals have no word for 'property', they say it is not a word because no one can own the land it was here long before you and will be here long after youre gone.

All an illusion, the world bankers and politicians are prison guards and theyve gone insane.

fredquimby's picture

"The Australian Aboriginals have no word for 'property', they say it is not a word because no one can own the land it was here long before you and will be here long after youre gone."

What a refreshing thought.

Thanks SD1!

tmosley's picture

Yes, and that outs them as communists.  Look at how they lived before natural rights recognizing Europeans came.  They stole from each other, and demanded that some live for others.  They murdered each other over food, and kidnapped women and children as slaves.  How could anyone ever build anything permanent under such conditions?

No progress can ever be made without recognition of natural rights by the preponderance of people.  Property is REAL.  Just because men are not immortal does not mean that they can't have exclusive use to a given patch of land, and the things they produce on that land.

SheepDog-One's picture

'The Aboriginals were communists'...lol what??

What are you talking about? The 'natural rights recognizing Europeans' made the Australian Aboriginies lives BETTER? You dont know what youre talking about, read some history the British came and slaughtered them, and Aboriginies had very little trouble amongst themselves AT ALL before then. 

CPL's picture

There's no uhaul behind the hearse and that land was never yours to begin with.  When you bought the land you are actually in a lease arrangement with your government.  To maintain that lease arrangement you must and will pay your taxes, follow all civic statues regardless of their merit and register your birth and death with your owner.

 

The government.  Which is less about "the people" than it is about a wealthy cross section of society that knows about marketing brands like coke, pepsi, left, right, whatever.  Those are the people that own you.  You are about as unique and free as a cow on a farm.  You are free as you want to roam around the field, until the owner comes to milk you.

 

I don't see those conditions in a tribal situation.  So regardless if you want to admit it or not.  You are part of a herd of slaves run by semi-communist masters that adhere themselves to the communist concept of a central authority.

 

To put bluntly, you can't take a shit and wipe your ass in this soceity without a 1000 people involved in the regulation of the water in the tank, the quality of the paper you brush your ass with or the specific manufacturing details of the procelain throne you sit on.  Don't believe me?  Try not paying your slave tax this coming year, or having a baby outside of the system or attempting to drink a coffee while driving (it's illegal now in Ontario, Canada).  The aboriginals at least understand the illusion of "freedom" in a federal system offer is just that, an illusion.

oogs66's picture

maybe the efsf isn't ready?  maybe the old one can't do this?

IQ 145's picture

LOL ! Robin Hood's evil twin brother; steals from the poor gives to the rich ! Too true to be funny.

Peter K's picture

Hey, the French found a new way to make money. (Ala Nick Leeson). Why is anyone questioning them?

Oh, and by the way, is any real cash going to pass from Germany to the Greeks/SMP/ECB/EFSF anytime soon? We are just doing time in a literary structuralist lock up? :)

mac768's picture

why the heck should the German taxpayer bail out the reckless French banks????

BrocilyBeef's picture

I've been expecting Operation Milkshot. The weak countries get all the junk fiat, and the strong countries get all of Greek's yogurt.

SheepDog-One's picture

Printing out of spite to bankrupt everyone for the benefit of a few insane billionaires....all I know is these people must be stopped or we're all fucked in very short order.

kurzdump's picture

Most of us are already debt-slaves, seems to be time for these few billionaires to crack their whips!

IQ 145's picture

Did you want extra fries with that short order?

SheepDog-One's picture

Talking about bankrupt countries bonds which mature in 2045....wtf we've gone fully insane? 

Translational Lift's picture

The aim world-wide is to transfer the liabilities from the banks & bond holders to the people/sheeple!!!

SheepDog-One's picture

 

Its funny, the only people to get it right and early-on was the tiny sleepy country of Iceland, land of 'Bjork' and trippy weird music...there they threw pies in the bankers and politicians faces and said 'Absolutely not'.

Whats wrong with the rest of us? The Elvins of Iceland stopped it dead in its tracks while the rest of us marvel daily at our captors? This is so fucked.

nantucket's picture

re: iceland

their growth has rebounded sharply since then...there was a deep decline, but growth resumed from a properly re-set base....soemthing the large western countries can't seem to do  

BrocilyBeef's picture

What is Mr. Bernanke doing right now?

Everybodys All American's picture

These "real assets" are worthless. You want em?

BrocilyBeef's picture

ahh, that's how the U.S. dollars get so soft!

DalaiLamaInAShark's picture

I'm with Roubini, just get it over with.  The end is comming for Greece, why prolong the pain?  Right now, I wouldn't touch Greece with YOUR balance sheet!

RSloane's picture

The prolonging of pain gives TPTB further opportunity to profit from destruction of a people and their government.

nantucket's picture

it's a bitch of a conundrum for politicians...taking the correct action needed to resolve the situation (as they haven't done since 2007) is almost certain to get you kicked out of office almost immediately.  doing nothing, or all the wrong things, (as they currently are) gets you kicked out of office years and years later.  So the choice is kicked out now or kicked out years later.

it's a bitch to have to win office trying to prove the unproveable....your opponent would say your policies caused the recession...and you would have no way to effectively defend youself by "proving" that the recession would have been 100x worse if no, or poor, policy moves were made.  effed either way.

quite the conundrum.

slewie the pi-rat's picture

option 5: the banks have "covered" w/ a bit of default insurance or shorts here and there?

oh, yes, very confusing, but still just basically: liquidate or finance the can-kicking for the bankrupts, isn't it?

if people want to to try to "make money" by exposing themselves (even negatively) to banks, brokerages, insurance companies, and sovereigns and their "promises" wtf do i care?

just punch up yer online casino and tell all da boyz what yer play is and then post it here to show the world how fuking intelligent you are!

i still say: get long gold and silver coins, cash, and supplies

carry on, BiCheZ!!!

che's picture

The greek part of psi is a strip. Use 100% discount rate for years 2-3 and value of greek part is 2-3 points. Value of package is 37. Plus itsettles in 2012 and god knows were frtrs are them.