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Old 02-21-2012, 08:42 PM   #1
Marcus
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Greece

Well...It's about to all come down. From my cursory understanding, the unelected Troika (Bankers) are trying to enforce their will upon Greece. Unelected leaders are trying to force themselves upon the populace...saying "you must work harder to repay the easy credit we've given you".
The citizens are rebelling. Where's the UN? John McCain just today said the US must back the rebels in Syria. What about the protestors(soon to be called, rebels) in Greece??? Why isn't the UN interested in invading Greece? Things that make you go hmmmm....
Well now, it appears that the group "Anonymous" has jumped into the mix and things are starting to get really interesting. Greece is only the springboard for things to come. The jump in Precious Metals today was due to this promise of a Greece banker bailout. The ECB (Euro Central Bank) made a promise to print...there goes gold.
This is really only just the beginning of MUCH bigger things to come. Greece is the canary in the coal mine.
Of course, this is just the musings of some wacko conspiratorial nutcase.

Spaghetti, are you out there? What's happening on the home front with Spearboard's token Greek?

Anonymous Hacks Greek Ministry Website, Demands IMF Withdrawal, Threatens It Will Wipe Away All Citizen Debts

For Greece, "Tomorrow" Has Arrived
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Last edited by Marcus; 02-22-2012 at 08:56 AM.
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Old 02-21-2012, 11:29 PM   #2
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Re: Greece

for your information, there are no rebels in Greece, only people protesting against the corrupted politicians who betrayed them and their country, and lowered their quality of life overnight
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Old 02-22-2012, 06:28 AM   #3
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Re: Greece

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for your information, there are no rebels in Greece, only people protesting against the corrupted politicians who betrayed them and their country, and lowered their quality of life overnight
No offense meant, my friend. I empathize with you. The same thing is slowly happening to the US citizens, as our corrupt politicians are burying us in debt. Pretty soon, we're going to have unelected bankers telling us what to do.
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Old 02-22-2012, 06:30 AM   #4
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Re: Greece

The problems were Greeces own doing. The governments that borrowed the money enjoyed wide popular support and the Greek people enjoyed the various government benefits while at the same time willingly not paying their fair share in taxes to pay for these benefits. The current deal that was just agreed upon will wipe out a fair share of the bond holders investments. Greece is going to default its simply a matter of when. The Greek political system has been dysfunctional for years making financial promises to the electorate that they could never fulfill and the voters approved of it. Dont know where the hell you got the "Greek rebels" from.
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Old 02-22-2012, 06:41 AM   #5
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Re: Greece

Here we go...........
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Old 02-22-2012, 07:38 AM   #6
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Re: Greece

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Originally Posted by jackpine savage View Post
The problems were Greeces own doing. The governments that borrowed the money enjoyed wide popular support and the Greek people enjoyed the various government benefits while at the same time willingly not paying their fair share in taxes to pay for these benefits. The current deal that was just agreed upon will wipe out a fair share of the bond holders investments. Greece is going to default its simply a matter of when. The Greek political system has been dysfunctional for years making financial promises to the electorate that they could never fulfill and the voters approved of it. .
And you dont think we are on this exact path
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Old 02-22-2012, 08:32 AM   #7
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Re: Greece

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Originally Posted by jackpine savage View Post
The problems were Greeces own doing. The governments that borrowed the money enjoyed wide popular support and the Greek people enjoyed the various government benefits while at the same time willingly not paying their fair share in taxes to pay for these benefits. The current deal that was just agreed upon will wipe out a fair share of the bond holders investments. Greece is going to default its simply a matter of when. The Greek political system has been dysfunctional for years making financial promises to the electorate that they could never fulfill and the voters approved of it.


Isn't this one of these AH HAH! moments? You pullin' my D, JP? That's one of the biggest softballs I've ever seen. I'm all giggly here.
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Old 02-22-2012, 08:53 AM   #8
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Re: Greece

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Isn't this one of these AH HAH! moments? You pullin' my D, JP? That's one of the biggest softballs I've ever seen. I'm all giggly here.
Not sure what you mean by that. I dont necessarily agree with what Greece is going through but they made their own bed. A nation whose economy is dependent on tourism and agriculture doesnt have the economic means to borrow the amounts of money that they did. Being in the euro zone allowed such borrowing but the democratically elected politicians who allowed this borrowing never thought about how they would pay it back and they can't. Are you saying that the Greek electorate and their leaders are not responsible for what is happening to their nation? If you read up on the agreement that was passed last night you will see that Germany, as part of this agreement, is demanding that the holders of Greek bonds, the very banks you rail against, take upwards of a 70% loss on their gamble. Greece will default, its just a matter of whether they take Spain and Italy down with them or not.
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Old 02-22-2012, 08:55 AM   #9
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Re: Greece

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And you dont think we are on this exact path
No we are not. The amount of our debt versus GDP compared to Greece's debt to GDP are not the same. Our economy is a lot more diversified than Greece which is dependent on agriculture and tourism. I am not dismissing the severity of our nations national debt but its not the same.
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Old 02-22-2012, 08:56 AM   #10
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Re: Greece

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No offense meant, my friend. I empathize with you. The same thing is slowly happening to the US citizens, as our corrupt politicians are burying us in debt. Pretty soon, we're going to have unelected bankers telling us what to do.
Its more the German, Dutch and Finninsh politicians telling the Greeks what to do since the money is coming from them. I don't think that is a whole lot better but Greece wanted to be part of the rich mans club and now they are paying the price.
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Old 02-22-2012, 09:09 AM   #11
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Re: Greece

Greek 1 Year Bond Hits 763%
If it seems like it was only 5 days ago that Greek bonds could be had for the blockbuster yield of 638%, it is because it was As of today, the same bond was yielding an even more ridiculous 763% (and remember when the MSM fluffers were telling you to buy these at the bargain basement yield of 100% in September 2011?). This price has nothing to do with the Fitch action on the country which is irrelevant, and all to do with the fact that, as noted previously, the cash coupon on the post-reorg bonds was cut once again, this time from 3.6% to just 2%, and the current price on non UK-law bonds is merely indicative of the cash on cash return investors in these bonds expect to make. It also means that the market expects a redefault in just about 1 year. And yes, we realize that at bond prices in the high teens, the yield curve is absolutely meaningless but it is still highly entertaining to watch as Greek bond yields are about to hit quadruple digits, which in itself is very indicative of the recoveries one can expect in a global sovereign ponzi, and yet the powers that be tell us this is a perfectly normal phenomenon, i.e., there is no default, and thus there is no reason to hedge for it. Alas, the whole world has gone mad. "


It's Official - Greece Unveils The Negative Salary, And A Whole New Meaning For "Pay To Play"

"We thought we had seen it all. It turns out we hadn't. The country that gave the world the alphabet, philosophy, and plates with funny sexually ambiguous drawing s on them, has outdone itself again. Because beginning this month some Greeks will have to pay for the privilege of having a job. From the Press Project:

Salary cutbacks (called "unified payroll") for contract workers at the public sector set to be finalized today. Cuts to be valid retroactively since november 2011. Expected result: Up to 64.000 people will work without salary this month, or even be asked to return money. Amongst them 21.000 teachers, 13.000 municipal employees and 30.000 civil servants...."


I'd be ready to riot, too. The Euro is going down and will be dragging the $ with it.
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Old 02-22-2012, 09:13 AM   #12
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Re: Greece

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Originally Posted by jackpine savage View Post
No we are not. The amount of our debt versus GDP compared to Greece's debt to GDP are not the same. Our economy is a lot more diversified than Greece which is dependent on agriculture and tourism. I am not dismissing the severity of our nations national debt but its not the same.
Yet.
We are galloping hard in that direction. We are over 100% debt/GDP now. When will it be time to pull back on the reigns, turn around, and head the other direction? After we arrive??? NO. The horse will be too tired and likely dead.
If these maniacal traitors manage to get us into a war w/ Iran, and subsequently WW3...game over.
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Old 02-22-2012, 09:22 AM   #13
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Re: Greece

I dont disagree, we need to do something to get our spending under control but luckily we are not riding over the edge quite yet. Unfortunately I dont see anyone in Congress who is willing to push for the fiscal discipline that we will need. Pretty much the same issue the Greeks faced, a weak political class beholden to special interests. I doubt we will be fighting Iran, Israel however..............?

By the way, you can stick RP into the presidency but he wont have control over the purse strings and I dont care if it was Jesus Christ himself in the Oval Office I dont think he would be able to change the power structure within Congress to do doodely squat.
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Old 02-22-2012, 09:31 AM   #14
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Re: Greece

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By the way, you can stick RP into the presidency but he wont have control over the purse strings and I dont care if it was Jesus Christ himself in the Oval Office I dont think he would be able to change the power structure within Congress to do doodely squat.
He has more control than you are willing to admit. Armed forces. Department of blah, blah, blah under his control. Veto power on the budget. He wouldn't sign a budget unless it was headed the right direction.
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Old 02-22-2012, 09:58 AM   #15
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Re: Greece

Greece is at 168% debt -GDP

U.S. just topped 102.3% And I believe they inflate the GDP numbers to make our economy look better than it is. They also lower inflation numbers and under report unemployment for the same purpose. Our gov. currently spend 44% of GDP per year while receiving only 32%. They Borrow 12% of GDP per year!!!! We have serious serious problems.




Meanwhile Japan is at 235%!?!? Been fun japan....
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