It's 2AM...and Greeks are lining up at ATMs

a reply to: AnIntellectualRedneck

I'm not saying its not going on or people aren't lining up. However, twitter and other social media sources haven't been to reliable of a source of information from what I have seen .

Social media sources is like a fun ride, but not much else when it comes to reporting live events. Especially if not tied to a live video link.

a reply to: anonentity

But did the common working person of Greece have anything to do with the debt accumulation?

Yes, of course they did. They voted for and enjoyed public services their government could not afford to pay for, and which it had to borrow money in order to continue providing.

They were not asked to agree to any level of indebtedness.

No, they just took the money and spent it.

Just like any one of us in the other Western countries.

Well, less so in America, where most indebtedness is private.

If I had nothing to do with the debt accumulation, I am certainly not going to endorse any measures that require me to pay the debt off.

But you did — if you enjoyed the public services provided by an indebted government — and there's an end to it.

a reply to: Astyanax

No savings. I used to have some savings some years back. Nothing much but it was a little something to fall back on in troubled times. But troubled times came sooner than later and I fell back on them and haven't been able to recover to times when things were more stable financially.

It's not always easy either. In fact at first it was extremely stressful knowing that your life is riding an edge where any unfortunate event could mean game over for you. Sometimes it's still that way but I've learned to deal with it.

Now, planning too far ahead is meaningless in most cases. It's a mindset that has it's ups and downs and many people I've known for years don't understand how I don't stress out because of it as they would. I just tell them that I guess it's just something you get used to the same as anything else. It's certainly not for everyone.

But one thing I've noticed is that regardless of what happens, things keep going like they always have. The earth keeps spinning and I keep living and I figure that's how it will continue until it doesn't.

originally posted by: Astyanax
a reply to: mOjOm

Why do these people keep putting their money in banks???

Where do you put yours? What financial institution is safer than a bank?

I guess it depends on what your definition of money is. Pull a bill out of your pocket and it says right on there that it is a debt note. It's not cash and it's not currency. It's counterfeit.

It's a privately issued debt and its value is entirely dependent on the CTRL-PRINT button on Yellen's computer screen down at the NY FED. And here's a tip: the third central bank of the UNITED STATES will never run out of debt notes because they can create unlimited digital currency with 1's and 0's.

The fact is that if you're afraid of these notes not being safe because they're not in a bank then you don't yet realize that the entire monetary system is a thief and it's designed to confiscate the wealth of the people and its really, really good at it. It's been doing it our all of our lives.

The current illusion will only continue as long as it's profitable to continue the illusion. At the point where the illusion becomes too expensive to maintain, they will just take down the scenery, they will pull back the curtains, they will move the tables and chairs out of the way and you will see the brick wall at the back of the theater.

Someday, when the money masters are ready they will pull the plug on the FED note and strangle the entire world with a new international debt based fiat currency. But by then it will be too late to stand in line at your local ATM hoping to grab the last of the meaningless, valueless paper.

Until then, yeah it's safe in the bank. Real safe.

a reply to: mOjOm

How you manage your personal finances is up to you. There is no right solution that fits everyone.

In my country (and many others), employees and their employers make mandatory contributions to a national 'provident fund'. The fund is administered by the government. When you officially retire, you can withdraw the contributions you and your employers made over the years, with interest. Most people end up with a tidy sum. If you already have other savings and investments, you could end up quite rich.

I don't think you have something like this in America. It doesn't fit with the Constitution or something.

Pity.

a reply to: Astyanax

Well, there's stuff like social security. But even that is under attack now too and could very well be gone by the time I'm allowed to get back what I've paid in. I've been told that for many years now and we'll just have to wait and see what happens. Even if it's there it's not that much but might keep you from living in a box under a bridge or whatever.

But you're right. Here in America the theme is more along the lines of "I've got mine now you get yours." There is a lot of talk about too many Social Safety Nets and stuff but I'm not one who feels comfortable getting assistance from the Gov. if I'm not completely helpless first. I'm not against Gov. assistance or anything and support it since I know many people absolutely do need it. It's just I grew up in a time when that wasn't accepted the way it is now so I guess I just continue to have that mindset now for better or worse.

I agree with you though. It is a pity. Sometimes it's down right shameful too the way so many suffer here in such a rich and prosperous nation.

a reply to: AnIntellectualRedneck

HEY Greece..........Let's see how this progressive social utopia works out for ya. This should be a lesson for every other progressive social utopia wannabe's. Buying into these ideals allows banking scum a foot in the door. TPTB use this to further a cause of anti-liberty and debt based societies.



Many will blame the evil bankers but never question the actual root cause of this coming collapse.......Progressive liberal idealism. This is exactly what the PTB want because they can than cause real change......Weimar republic style.

a reply to: SubTruth

Obviously you've never been to Germany or Scandinavia or Switzerland or Findland or most of Europe.

originally posted by: onequestion
a reply to: SubTruth

Obviously you've never been to Germany or Scandinavia or Switzerland or Findland or most of Europe.

Eventually they will all fail........Fiat currency and progressive ideals have not worked in the past so why would they now........


Look at the last century and how progressive socialism failed in mass.....Germany,Italy,Russia come to mind.

a reply to: mOjOm

This may be off topic (or is it?), but hats off to you. You are living as people *should* be living. Not in fear, but in the awareness of the fallacy that ANY "security" (financial or otherwise) is.
It's not easy, and I KNOW that (as opposed to imagining it), but it is as close to real freedom as we can get in this life.

All the best to you.

I'm not sure if there are lines at ATMs but this latest story says they will have a vote on the austerity measures quite soon.
It also features a picture of lines outside a bank in Athens.

www.bbc.com...

Greece's prime minister has called a referendum on 5 July for voters to decide whether to accept a bailout deal offered by international creditors. Alexis Tsipras made clear he was against the "unbearable" bailout plan. As parliament began meeting to consider whether to ratify the vote, some queues were seen outside banks in Athens. For the referendum even to take place, eurozone finance ministers will have to agree to extend Greece's current bailout, which expires on Tuesday.

In a televised address, Mr Tsipras described the bailout plan as "humiliation" and condemned "unbearable" austerity measures demanded by creditors.
"I call on you to decide - with sovereignty and dignity as Greek history demands - whether we should accept the extortionate ultimatum that calls for strict and humiliating austerity without end, and without the prospect of ever standing on our own two feet, socially and financially," he said.
"The people must decide free of any blackmail," he added.

I hope for the best for the people. Somehow I just can't think of a way of defeating the banksters.

originally posted by: mOjOm
a reply to: AnIntellectualRedneck

ATM's??? Why do these people keep putting their money in banks??? Didn't they learn the first time when the banks took their money that maybe banks aren't such a good idea???

i would take my paycheck and cash it at the bank. then i would keep my cash in a stash. hidden in my home.

but even if the greek people did this, and the bank system collapses, the money would be worthless any way.

I haven't read all of this yet, and need to educate myself more about the world economy - but... is this situation with Greece "the canary in the coal mine" as far as it relates to other countries?

I read that the suicide rate has jumped to 36% of the population...

the Greeks are staring straight at Capital Controls very soon... (after a Cyprus style haircut of 35% of the monies in bank accounts)
they might get a couple week extension, possibly from Germany
OR else they might pull the Icelandic Option--- declare the Debt as Odious Debt created by Goldman Sacs principally for the financier's profits to the detriment of the State of Greece (they (Greece) were defrauded by Goldman is their claim and the Debt is illegal-void-non existent)

Greece is being offered a way out by the BRICS & principally Russia with a gas pipeline corridor for east Europe


a prominent bond fund manager recently counseled people to start putting money under the mattress instead of making 'unsecured deposits' into banks... who are under no obligation to give you your own money ~ because unsecured deposits are not deemed 'Money' or Euros... i think June 29th was the deadline to completely allow banks to 'bail-in' the depositers money like was done in Cyprus


USA look out for Sep Oct '15 for pension seizures/401k restructuring/bail-ins of banks... so keep 6 months of monthly cash expenses under the mattress and have 5 years of sustainable resources or the ability to obtain resources for a 5 year siege of the economy...

originally posted by: St Udio



USA look out for Sep Oct '15 for pension seizures/401k restructuring/bail-ins of banks... so keep 6 months of monthly cash expenses under the mattress and have 5 years of sustainable resources or the ability to obtain resources for a 5 year siege of the economy...

Wouldn't that be nice!
It's taken me two years of good luck to set aside enough monthly expense money to set aside three months of bare minimum expenses- and I know that I'm doing better than most.

It'll take a lifetime to work out the sustainable resources. Land isn't readily available anymore- you have to play the game to get access to it.

originally posted by: Astyanax
a reply to: anonentity

But did the common working person of Greece have anything to do with the debt accumulation?

Yes, of course they did. They voted for and enjoyed public services their government could not afford to pay for, and which it had to borrow money in order to continue providing.

Rubbish. The people only saw about $27 billion of that debt. It all went to bailing out banks. Any debt without my signature on a promissory note is NOT MINE! ALL 3rd party debt is odious.

According to your logic all Americans a mass murdering imperialists because basically they're the govts. they vote for. Oh yeah and there's that little matter of an $18 trillion debt.

a reply to: AdAstra

(To live) not in fear, but in the awareness of the fallacy that ANY "security" (financial or otherwise) is.

Agreed.

But.

You would be equally foolish not to do whatever you can to improve your chances of (1) surviving and (2) prospering.

Having savings and investments doesn't make anyone secure. Life is short and all are mortal. But if you recognise that and understand that it is still better to have than to have not, you are then doubly free.

The very rich understand that making money is a game. In games you can always lose as well as win, but that only makes the game more thrilling.

Once, I was as you. Now I would rather have the money than not. Money is good, so long as we keep ourselves from loving it too much.

Money is freedom -- if you can avoid becoming enslaved by it. Poor people are enslaved by money.

It is not good to be poor.

a reply to: Macdon

Rubbish. The people only saw about $27 billion of that debt. It all went to bailing out banks.

Which needed to be bailed out because they'd borrowed money to lend to... whom, exactly?

a reply to: AnIntellectualRedneck

Unless banking is different over there, you have a maximum ATM withdrawal limit every 24hrs.
If I was worried about money in the bank, I'd be lining up once a night til I had most or all of it.

In the U.S., we'd think, why can't you just show up at the bank during business hours and withdrawal all of it?

Are these people just worried about their entire savings being gone by sunrise, or are there measures against simply showing up and close out your account, or leaving a euro/dollar in there?

a reply to: Astyanax

I totally agree. And never implied otherwise.
What's more, I hope s/he (and that goes for everyone) DOES improve whatever needs improving.

Still: to achieve such a state of mind is no small feat.
And it IS freedom (or thereabouts).