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User Info Your Daily Greek Update. SAVED or not SAVED? in forum [Breaking]
Zarathustra
Posts: 5937
Incept: 2009-04-29
Silver A True American Patriot!
Funkytown
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The stupidity is amazing...

FRANKFURT (MarketWatch) — The U.S. dollar lost some ground versus major rivals other than the Japanese yen Friday, with the euro edging higher on renewed hopes Greece’s European partners will agree to a deal on a second bailout by early next week.


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"And in knowing that you know nothing, that makes you the smartest of all." - Socrates
Drench
Posts: 28631
Incept: 2009-11-10
Green
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Germany Seeks to Avoid Two-Step Vote on Greek Aid

http://www.bloomberg.com/news/2012-02-16....
Dimahot
Posts: 341
Incept: 2007-11-16
Green
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Jubber
Posts: 13938
Incept: 2007-07-05
Gold
UK
Online
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639.01% earlier

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“The problem with socialism is that, sooner or later, you run out of other people’s money.” Thatcher
Eaglewwit
Posts: 6054
Incept: 2007-11-30
Green
SoCal
Banned
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Aren't people making on killing on Greek debt right now. At 639%, it doesn't take long to get your prinicpal back and make a profit. It seems to me that the yields have been elevated for well over a year and I have not heard of a default. Therefore someone (TBTF banks) has to be making tons of cash of this trash.
Peterm99
Posts: 4981
Incept: 2009-03-21
Gold
SoCal
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That would work out well if you got a quarterly coupon payment. Is that the case with these bonds?

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". . . the Constitution has died, the economy welters in irreversible decline, we have perpetual war, all power lies in the hands of the executive, the police are supreme, and a surveillance beyond Orwell’s imaginings falls into place." - Fred Reed
Asimov
Posts: 103865
Incept: 2007-08-26
Gold
East Tennessee Eastern Time
Online
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Greek 1 Year At 629%, Biggest One Day Jump In Yield Ever

Charts: http://www.zerohedge.com/news/greek-1-ye....

I see it's traded even higher than that today too. This is WAAAYYY beyond a default.

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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.
Zarathustra
Posts: 5937
Incept: 2009-04-29
Silver A True American Patriot!
Funkytown
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LOL. Greece controls EVERYTHING...

SAN FRANCISCO (MarketWatch) — Crude-oil futures rose Friday as geopolitical tensions involving Iran kept a fear premium in the markets and traders grew optimistic that the Greek saga is closer to an end.


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"And in knowing that you know nothing, that makes you the smartest of all." - Socrates
Drench
Posts: 28631
Incept: 2009-11-10
Green
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Quote:
collective action clauses if a voluntary debt swap doesn’t draw enough participation
http://www.bloomberg.com/news/2012-02-17....
Mondocondo
Posts: 3684
Incept: 2007-12-03
Green
Miami
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This is really getting old. Same old **** for months and months and months.
Eaglewwit
Posts: 6054
Incept: 2007-11-30
Green
SoCal
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They want to keep this **** up as long as they can. All they ever get are pops in the market, it never retraces when a rumor is found to be false. It has risen so much on the back of optimism of a Greek solution, if and when it fails the fall in the market as big as it will be will still not be enough to retrace all the bull****.
Jubber
Posts: 13938
Incept: 2007-07-05
Gold
UK
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I think that has been the plan since December, ramp the **** out it, so when the bad news comes rather than go down from 1070, they can go down from 1370... to 1220???

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“The problem with socialism is that, sooner or later, you run out of other people’s money.” Thatcher
Franjime
Posts: 1821
Incept: 2008-03-30
Silver
DFW
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'Greek 1 Year At 629%, Biggest One Day Jump In Yield Ever'

Can someone give a bond-ignorant person an education in how this is calculated? My mind reels.

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"The avalanche has started - it is too late for the pebbles to vote."
Harrisonact
Posts: 1753
Incept: 2010-10-04

canada
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So does a 630% bond return the principal in um, about 60 days? Double your investment in 120 days? That's off the top of my head.

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bilge
My playbook speaks español. Deal with it. Im too lazy to fix it.
Asimov
Posts: 103865
Incept: 2007-08-26
Gold
East Tennessee Eastern Time
Online
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That's so far past the point of "you're a ****ing idiot to buy this" that it's not even funny anymore.

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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.
Bearshort
Posts: 4476
Incept: 2007-09-13
Green
NYC
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The 600+% yield assumes when the bill matures you get paid $100, and can keep reinvesting at the same yield over and over for the year.
Never will happen obviously.

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"How long to the point of know return?"
Enemies of the State: Bernanke, Geithner, Frank, Dodd, Greenspan, Paulson.
Rvacha
Posts: 8295
Incept: 2008-10-03
Gold
Cleveland
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Open Europe: 10 Unanswered Questions

Good summary of where things stand and the open uncertainties
http://www.openeurope.org.uk/Article?id=....

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"I suggest you panic." - Hugh Hendry
Rvacha
Posts: 8295
Incept: 2008-10-03
Gold
Cleveland
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This is all wrong... how is that we have managed to go 48 hours without a single planted leak, either good or bad?

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"I suggest you panic." - Hugh Hendry
Jazen
Posts: 3416
Incept: 2007-07-17
Green
****cago
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I agree and was thinking the same thing when I saw the complete lack of ANY news today.
Odd.

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I hate our Government, but I still love America.
Dbcooper
Posts: 7729
Incept: 2009-05-12
Green
PNW
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Germany drawing up plans for Greece to leave the euro

Plans for Greece to default, potentially leaving the euro, have been drafted in Germany as the European Union begins to face up to the fact that Greek debt is spiralling out of control - with or without a second bailout.

http://www.telegraph.co.uk/finance/finan....

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"The rules were simple: Never pay in cash, never tell the truth and never play by the rules"
Rd
Posts: 466
Incept: 2008-02-27
Gold
Long Island, NY
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Good read about what's really happening on the ground in Greece

http://www.bbc.co.uk/news/business-17067....


Almost getting to the point where the people have "The right to rebel"

philosophy of John Locke

"When they have been deprived or invaded of their three natural rights, life, liberty, and property. John Locke was big on this issue. He said that these are the three rights of every human being and it is the governments duty to protect those rights and if they don't, it's the citizens duty to overthrow government.

Rd
Posts: 466
Incept: 2008-02-27
Gold
Long Island, NY
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Another good read, maybe the old can teach the young a thing or two about protesting.

Newsflash Athens: DA Peponis Indicts Papandreou and Papakonstantinou for Treason

http://rmiglobal.org/2012/02/17/newsflas....
Djloche
Posts: 3271
Incept: 2008-07-07
Silver
In the Mountains
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from the above linked
Quote:
Today, Sunday February 12, 2012, I am about to take part in the demonstrations, along with Manolis Glezos, the hero who, in the past, took the swastika down from the Acropolis, signaling the beginning of resistance against Hitler, not only in Greece but throughout Europe. Today, our streets and our squares will be flooded with hundreds of thousands of citizens who will demonstrate their rage against the government and against the Troika.


Quote:
I am totally dedicated, body and soul, to this cause (the unification of the People in one Front) and I believe that I will be proved right in the end. I have fought, gun in hand, against Hitler’s occupation. I have experienced the Gestapo’s dungeons. I have been sentenced to death by Germans and have miraculously survived. In 1967 I founded PAF (The Patriotic Anti-dictatorial Front), the first resistance organization against the military junta. I fought underground, was caught and imprisoned in the junta’s “slaughterhouse”. Once again I survived.

I am today 87 years old and it is very possible that I will not live to see the salvation of my beloved country. But I will die with a clear conscience, because I will continue doing my Duty towards the ideals of Freedom and Justice until the end.



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"If we wish to be free, we must fight! I repeat it, sir, we must fight! An appeal to arms and to the God of Hosts is all that is left us! Gentlemen may cry, "Peace! Peace!" -- but there is no peace. The war is actually begun! Our brethren are already in the field! Why stand we here idle?"

Drench
Posts: 28631
Incept: 2009-11-10
Green
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The CNBC.com headline is "Euro Zone Ministers Set to OK Greece Bailout Monday"
Quote:
Euro zone finance ministers look set to approve a bailout package for Greece on Monday although final details are still being worked out, Austrian Finance Minister Maria Fekter said on Sunday.

Asked in a television interview if she thought a deal would come together on Monday and Greece would stay in the euro zone, she said: "At the moment it appears it will go exactly this way."

She added: "I don't think there is a majority to go a different way because a different way is enormously arduous and costs lots and lots of money."
http://www.cnbc.com/id/46445872
Zarathustra
Posts: 5937
Incept: 2009-04-29
Silver A True American Patriot!
Funkytown
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Translation? "Greece is SAVED"...............again

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"And in knowing that you know nothing, that makes you the smartest of all." - Socrates
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