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User Info	Your Daily Greek Update. SAVED or not SAVED? in forum [Breaking]
Eaglewwit Posts: 6054 Incept: 2007-11-30 SoCal Banned	Land, your assumption is that the people are smart enough to realize it is an illusion. I tend to disagree with that premise, if the Greek population is anything like ours. 2012-02-21 22:57:08 Permalink
Swingtrader Posts: 9108 Incept: 2007-08-12 United Oligarchic Goldman Sachs States of America	when you have widespread unemployment, difficulty living, and no hope - people have a way of figuring it out. Will happen here when life gets hard. ---------- Swing said "Well, it is collapsing as we watch.This is what it looks like." Australian federal judge Jayne Jagot, doing what US judges need to do! 2012-02-22 08:57:36 Permalink
Harrisonact Posts: 1754 Incept: 2010-10-04 canada	Illusion or not, when the cheese stops for a long time the Greeks will go ape**. Truly over the edge ape*. Recent Greek rioting will look like a picnic compared to what's coming. ---------- bilge My playbook speaks español. Deal with it. Im too lazy to fix it. 2012-02-22 09:13:30 From PDA* Permalink
Zarathustra Posts: 5961 Incept: 2009-04-29 Funkytown Online	Italy up next? FRANKFURT (MarketWatch) -- The yield on 10-year Italian government bonds was on the rise Wednesday. The 10-year Italian government bond yield /quotes/zigman/4869096/delayed IT:10YR_ITA +1.38% rose 0.08 percentage point to 5.53%, according to electronic trading platform Tradeweb. Yields rise as bond prices fall. ---------- "And in knowing that you know nothing, that makes you the smartest of all." - Socrates 2012-02-22 09:23:43 Permalink
Mpilar Posts: 5611 Incept: 2009-01-05 Nashville, TN	Greek 1yr up over 100 (15%) since yesterday...now at 752% ---------- Every normal man must be tempted at times to spit on his hands, hoist the black flag, and begin to slit throats. H. L. Mencken 2012-02-22 09:24:35 Permalink
Zarathustra Posts: 5961 Incept: 2009-04-29 Funkytown Online	Welcome To The Recovery.... ---------- "And in knowing that you know nothing, that makes you the smartest of all." - Socrates 2012-02-22 09:28:56 Permalink
Spanktron9 Posts: 2784 Incept: 2009-03-13 Reality.	Recovery Summer: European Vacation! ---------- "Winter is coming." -Motto of House Stark "Mo'lon La'be"- Leonidas "Strong people are harder to kill than weak people, and more useful in general" - Mark Rippetoe "Its like Calvinball."-MarvinMartian 2012-02-22 10:30:42 Permalink
Rvacha Posts: 8298 Incept: 2008-10-03 Cleveland Online	http://www.zerohedge.com/news/scandal-gr.... Quote: Earlier today, we learned the first stunner of the Greek bailout package, which courtesy of some convoluted transmission mechanisms would result in some, potentially quite many, Greek workers actually paying to retain their jobs: i.e., negative salaries. Now, having looked at the Eurogroup's statement on the Greek bailout, we find another very creative use of "negative" numbers. And by creative we mean absolutely shocking and scandalous. First, as a reminder, even before the current bailout mechanism was in place, Greece barely saw 20% of any actual funding, with the bulk of the money going to European and Greek banks (of which the former ultimately also ended up funding the ECB and thus European banks). Furthermore, we already know that as part of the latest set of conditions of the second Greek bailout, an 'Escrow Account" would be established: this is simply a means for Greek creditors to have a senior claims over any "bailout" cash that is actually disbursed for things such as, you know, a Greek bailout, where the money actually trickles down where it is most needed - the Greek citizens. Here is where it just got surreal. It turns out that not only will Greece not see a single penny from the Second Greek bailout, whose entire Use of Proceeds will be limited to funding debt interest and maturity payments, but the country will actually have to fund said escrow! You read that right: the Greek bailout #2 is nothing but a Greek-funded bailout of Europe's insolvent banks... and the Greek constitution is about to be changed to reflect this! ---------- "I suggest you panic." - Hugh Hendry 2012-02-22 12:31:03 Permalink
Zarathustra Posts: 5961 Incept: 2009-04-29 Funkytown Online	Amazing ***. Just amazing. Karl, what about this? ---------- "And in knowing that you know nothing, that makes you the smartest of all." - Socrates 2012-02-22 13:21:47 Permalink*
Genesis Posts: 130779 Incept: 2007-06-26	I told you it was a BOOM, and it's a BOOM. Sheesh. ---------- I don't care* if it makes sense -- only if it makes money. -- Me* Bank (n): See scam, fraud and theft. *Eat a bankster -- they're low-carb.* *What part of "shall not be infringed" was unclear?* 2012-02-22 13:22:46 Permalink
Zarathustra Posts: 5961 Incept: 2009-04-29 Funkytown Online	Love the ashes, Karl. Getting mine soon... ---------- "And in knowing that you know nothing, that makes you the smartest of all." - Socrates 2012-02-22 13:24:30 Permalink
Gates Posts: 6276 Incept: 2008-01-29 Scottsdale	can't make this **** up... 2012-02-22 16:02:31 Permalink
Harrisonact Posts: 1754 Incept: 2010-10-04 canada	Hahaha. Once Bernank sees hows the old world masters assrape their peons do you think you'll be spared in the US? Coming soon to a wallet near you..... ---------- bilge My playbook speaks español. Deal with it. Im too lazy to fix it. 2012-02-22 16:35:01 Permalink
Zarathustra Posts: 5961 Incept: 2009-04-29 Funkytown Online	ZH--Yesterday, in our daily list of shocking discoveries of just how far forward Greece is willing to bend over, we realized that not only will Greece not receive a penny (or is that a drachma?) from Europe, but it itself will have to fund the European bank bailout via a Greek-funded Escrow account. In today's 'insult to rape' chronicles, we discover that before Greece is even given permission to bail out Europe's banks, its creditors first demand that the province of Bavaria Sachs, formerly known as Greece, satisfy a checklist of 38 specific conditions, which the now fully colonized nation will have to complete before the end of the month (so in about 5 days), before it is permitted to transfer taxpayer cash to French, German, Italian and Spanish banks. How anyone, even the world's most degraded debt slave, is willing to subject themselves to such humiliation is inconceivable. The FT has the subhuman degradation details: The reforms, spelt out in three separate memoranda of a combined 90 pages, are the price that Greece has agreed to pay to obtain a €130bn second bail-out and avoid a sovereign default that the government feared would throw Greek society into turmoil. They range from the sweeping – overhauling judicial procedures, centralising health insurance, completing an accurate land registry – to the mundane – buying a new computer system for tax collectors, changing the way drugs are prescribed and setting minimum crude oil stocks. The 38 measures are a mix of laws that must be passed by parliament, ministerial decisions and presidential decrees that affect a complete cross-section of Greek economic activity, from health spending to municipal administration to tax collection. Only a handful of the measures are listed as passed or in the process of being implemented, including a highly publicised €300m in pension reductions and €325m in other spending cuts. The other reforms are grouped under six categories, though most of the changes fall under spending cuts, bank regulations, and economic reforms. Among the measures that must be completed in the next seven days are reducing state spending on pharmaceuticals by €1.1bn; completing 75 full-scale audits and 225 value added tax audits of large taxpayers; and liberalising professions such as beauty salons, tour guides and diet centres. Even the longer-term reforms must be completed quickly. A draft 49-page “memorandum of understanding on specific economic policy conditionality”, dated February 9, includes dozens of measures that must be completed in the first half of the year. And so forth. Sarcasm aside, that this is merely a strawman loophole for Germany to say on April 1 that Greece has not completed the measure is beyond glaringly obvious. Which explains why the idiot algos who have taken this development as good news have sent the EURUSD to nearly 3 month highs. It also goes without saying that one should wait for Tom Stolper to go long the EURUSD before shorting the pair with infinite LTRO funded (in exchange for compressed methane as collateral) leverage. http://www.zerohedge.com/news/behold-gre.... ---------- "And in knowing that you know nothing, that makes you the smartest of all." - Socrates 2012-02-23 15:45:06 Permalink
Jubber Posts: 14159 Incept: 2007-07-05 UK Online	Greek debt at end-Dec at EUR 368bln, according to finance ministry ---------- “The problem with socialism is that, sooner or later, you run out of other people’s money.” Thatcher 2012-02-24 03:50:32 Permalink
Stonedog Posts: 2080 Incept: 2008-05-29 New Jersey	The European Union - to be or not to be... not to be... ---------- "I would characterize my professional disdain as more of a professional contempt for their [Central Banker, Banker and politician] economic and financial policies, priorities, presumptions and prescriptions." - Lauren Lyster on Capital Account for Friday June 16, 2012 "All the stimulus, the bailouts, the quantit 2012-02-24 07:42:03 Permalink
Dimahot Posts: 341 Incept: 2007-11-16	http://www.bloomberg.com/quote/GGGB1YR:I.... New high @ 811% today How can CDS be more than 10K? http://www.cnbc.com/id/38451750 2012-02-24 11:14:12 Permalink
Mondocondo Posts: 3686 Incept: 2007-12-03 Miami	Greece Issues Exchange Offer Terms; Raises Minimum Acceptance Threshold To 75% From 66%; €10 Billion Buys PSI Killer http://www.zerohedge.com/news/greece-iss.... 2012-02-24 14:55:47 Permalink
Cttocsjtemp Posts: 2643 Incept: 2008-06-11	http://www.athensnews.gr/portal/11/53575 Quote: Private investors seek exemption from haircut 24 Feb 2012 (Reuters) A lobby group representing private investors in the European Union has asked the Prime Minister Lucas Papademos to exclude them from a 53.5 percent haircut on Greek government bonds. The government will launch a bond swap for institutional and individual holders of its debt on Friday in an attempt to slice off some of its liabilities, as a condition of the 130bn euro rescue package. "We believe it is highly unfair to treat EU individuals the same way as institutional investors, as EU individuals were excluded from the negotiations and often cannot deduct the losses from their taxes as institutional investors do," Guillaume Prache, secretary general of Euroshareholders, an umbrella organisation for around 30 national shareholder groups, said in a letter addressed to Papademos. Euroshareholders is a Brussels-based umbrella organisation for around 30 national shareholder associations across the European Union. "Euroshareholders are kindly asking you to exclude individual bond holders from the forced haircut participation, or at least to make sure that individual investors from the European Union will be able to deduct losses from their taxes," Prache said. Around 1 percent of Greek debt is in the hands of private investors, a spokesman for German shareholder lobby group DSW said. DSW is represented by umbrella organisation Euroshareholders. ---------- It's gotten too big to hide behind the sofa pillow anymore. The ugly head is protruding and people are waking up from their sleep only to realize the nightmare is real. 2012-02-24 20:58:33 Permalink
Orelius Posts: 93 Incept: 2008-01-20 Alaska	Germany's Interior minister: Greece should exit eurozone Published: 26 Feb 12 10:58 CET With German Chancellor Angela Merkel facing a parliamentary vote Monday on a second Greek bailout, her interior minister, Hans-Peter Friedrich came out over the weekend in favour of Greece leaving the eurozone. Friedrich told the news magazine Der Spiegel, “I do not mean that Greece should be kicked out of” the 17-nation eurozone, but he said the bloc should “create incentives for an exit that they cannot turn down.” more at link: http://www.thelocal.de/politics/20120226.... 2012-02-26 15:08:53 Permalink
Jubber Posts: 14159 Incept: 2007-07-05 UK Online	1Y hit 821.20% this morning ---------- “The problem with socialism is that, sooner or later, you run out of other people’s money.” Thatcher 2012-02-27 05:31:45 Permalink
Mpilar Posts: 5611 Incept: 2009-01-05 Nashville, TN	Yeehaw...wonder when they'll hit 1000%... God, that just feels wrong even writing it...1000% ---------- Every normal man must be tempted at times to spit on his hands, hoist the black flag, and begin to slit throats. H. L. Mencken 2012-02-27 10:07:26 Permalink
Ramthebulls Posts: 10860 Incept: 2007-09-24 Queens, NY	Compounded over a typical 40-year career, 821% interest rates in an investment account would lead to a fairly good retirement ---------- Umbrage is like love. No matter how much someone takes, there's always more for you to give. 2012-02-27 10:09:55 Permalink
Harrisonact Posts: 1754 Incept: 2010-10-04 canada	Seriously, 800%? There should be a threshold for interest that when hit a default is declared because only a fool would expect the bond to be honored. Then again, there should be a lot of **** put back in place. Mark to market anyone? ---------- bilge My playbook speaks español. Deal with it. Im too lazy to fix it. 2012-02-27 10:33:54 From PDA Permalink
Asimov Posts: 104047 Incept: 2007-08-26 East Tennessee Eastern Time	Harrison: Yea, and it should be ~25% on a 1 year. Not 1000% ---------- It's justifiably immoral to deal morally with an immoral entity. If you trade based on what other people say, you will lose money. Especially what I say. I won't be held responsible. Festina lente. 2012-02-27 10:36:55 Permalink

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