Greek banks closed on Monday. state of emergency.

When an American company ' Apple' has $160 Billion sitting around in cash, when Microsoft sits on $80 Billion and the American Treasury has around $49 Billion available then something in the world is wrong......KETSUKO...the American business mantra of money money money (and worry about the small guy later) has caused a global polarisation in wealth which is now becoming unsustainable.....

Greece is the first major casualty of capitalism and opens the way for China or even Russia to gain a significant foothold in Europe.......that said, would they want one...???

Any concessions made to Greece lead to other PIGS country expecting the same and therefore the lenders or bond holders (big over fed testosterone guys and girls in Wall Street, Canary Wharf or Frankfurt) will have to take a massive loss.........of course they won't accept it BUT because of their greed and selfishness over the past few years, then they already have.....

Interesting times

Regards

PDUK

a reply to: MrSpad

The Greek people really need to clean house. The Greek government lied and hid how bad things were to get into the Euro hoping the EU would then have to bail them out of the mess they had created.

If the EU didn't know how bad things were in Greece, then it's their own damn fault for not doing their due diligence.

I think they finally figured out that they were just tossing more money into a pit and that Greece had no intention of fixing anything.

That sounds as believable as the bankers in the US not knowing that there were going to be massive mortgage defaults with the bubble they created.

Luckily for the EU they have been preparing for a default for years, even forgiving 100 billion in Greek debt to limit the effect a default would have and moving a good chunk of the debt from private banks to Governments.

Ya, because they knew they were insolvent from the beginning, and moving the debt from private banks to governments....translation to the people would help make all Greeks debt slaves, which is the end goal all along.

For the EU they will take short term drop in the markets and some other problems but, that will all be short term . Again they have been preparing.

You are probably right on this one, why because the Fed can just turn on the printing press and dole out trillions of dollars to bail out European banks just like they did before. link

Greece on the other hand is in real trouble. That Government has lied so often about the state of it economy that likely they are in even worse shape than they are admitting. Got to feel sorry for the Greek people as they were as in the dark about how completely incompetent their government was.

The people of Greece were sold out, partly by their own government(technocrats), but mostly by the EU which let's be honest is more concerned with the EU being a success at all costs.

Imo the best thing the Greek people could do is to pull an Iceland and tell their creditors to take a hike. There would be some pain and suffering while getting back to the drachma, but in the end Greece will be a tourist haven again with a cheap currency which was their bread and butter to begin with.

I love how the EU gets on their high horse when it comes to Greece's financial obligations, the whole money game is a sham in the first place. All you have to do is look at the myriad of ways that the financial elites have been screwing us over, and they have the gall to hold Greece to a different standard?

originally posted by: PurpleDog UK
When an American company ' Apple' has $160 Billion sitting around in cash, when Microsoft sits on $80 Billion and the American Treasury has around $49 Billion available then something in the world is wrong......KETSUKO...the American business mantra of money money money (and worry about the small guy later) has caused a global polarisation in wealth which is now becoming unsustainable.....

Greece is the first major casualty of capitalism and opens the way for China or even Russia to gain a significant foothold in Europe.......that said, would they want one...???

Any concessions made to Greece lead to other PIGS country expecting the same and therefore the lenders or bond holders (big over fed testosterone guys and girls in Wall Street, Canary Wharf or Frankfurt) will have to take a massive loss.........of course they won't accept it BUT because of their greed and selfishness over the past few years, then they already have.....

Interesting times

Regards

PDUK

You make the mistake of thinking it is the American way.

Big business is an oligarchy, not the American way. There are plenty of big corporations that hail from plenty of other places on the globe, and then there is China which may as well be the very model of the corporate oligarchy state. Perhaps we ought to call it the Chinese way.

it prevented the stupidity of European nations going to war again.

I'm not great on history, but didn't we have a big war in the former Yugoslavia? And didn't a German-backed coup start a war in the Ukraine? Or don't these count as Europe?

I thought we invaded Iraq and Afghanistan too? Where did you get the idea that European Nations haven't been going to war?

originally posted by: TonyS

The strong dollar hurts the multi-nationals that export product out of the US to the EU.

But not the ones that export from the European Union to the United States.

They need to close the banks so the rich and elite can get their money out before the peasants drain the banks.

Greece is screwed and Europes nightmare is going to come to pass - Russia will buy Greece.

a reply to: Agit8dChop

Why does Greece need to be bought by anybody?

a reply to: AugustusMasonicus

At least our currency was still tied to gold at that point which made it worth more than the paper it was printed on.

Did it really helped ? Ever heard about this en.wikipedia.org...

Executive Order 6102 is a United States presidential executive order signed on April 5, 1933, by President Franklin D. Roosevelt "forbidding the Hoarding of gold coin, gold bullion, and gold certificates within the continental United States". The effect of the order, in conjunction with the statute under which it was issued, was to criminalize the possession of monetary gold by any individual, partnership, association or corporation.

originally posted by: kitzik
Did it really helped ? Ever heard about this en.wikipedia.org...

You are aware the Great Depression started almost 4 years before Roosevelt issued that Executive Order, right?

a reply to: TonyS
I checked on cnn a little bit ago,
the dow was down over 300 points from what is closed at friday, but I bet the plunge protection team will step in before they open tomorrow and we will have a booming day.
if not, well, just hope that it's not a sign that the plunge protection team hasn't given up?

a reply to: jaws1975

In the next few days, when shops cannot access credit to buy stock to fill shelves, there will be panic.
When Greeks cannot go to a bank and access to their funds has been deliberately stopped, there will be chaos.

Europe knows this will be a very eye opening event for all those Europeans who are struggling at the moment.
They will see the elite effectively shut off normal Greeks to society. No money, no food, no assistance.

The lower class Europeans will be concerned if things go bad, the elite in their country will do the same to them.

See, Europe are in a bad spot. They (& the IMF) cannot let Greece just ignore the debt and snug their noses at the rulers of the elite - it would allow other nations to go the way of Iceland.

But at the same time, they cannot allow Greece to fold because Russia will gladly step in, foot the bill and the situation in Ukraine would take a drastically different direction if Russia is holding Europe together via Greece

Going to be a great day watching the markets.
(psssst, what ever you do, don't let ISIS or these BS attacks in Tunisia and France distract you too much..)

a reply to: Agit8dChop

ATM withdrawals are limited to 60 euros ($A86.71) a day for locals, but tourists staying in Greece and anyone with a credit card issued in a foreign country will not be affected by the measures to limit bank withdrawals.

too bad if your a Greek without a foreign bank account...

originally posted by: ForteanOrg
a reply to: ketsuko

Separate identities? The EU currently consists of only 28 nations. Your Republic consists of 50 states, a district and an atol (not mentioning the various American bases worldwide). Just like in Europe, your States differ wildly in culture, language and laws.

We have a common language. English. What's your common language? Our culture has differences such as one would find in a single country. I have lived in the North and the South, in Liberal and Conservative states, it's really not a big difference. Laws have minor differences, but for the most part are the same.

Like in Europe, you have a federal law (we have European laws). And like in Europe, you had to suffer from a war to unite your country. The differences aren't that big, methinks. Greece leaving the EU would be similar to Texas leaving the US - both can happen, but it is highly unlikely.

No, it would be like Detroit leaving the US.

The EU is not like the US. A north american union of north america, central america and the carribean to countries who qualified would be like the EU.
Those european countries took 100's of years to even become their modern nation state. Italy has only been Italy for 150 years, same with Germany.

Greece should have never been in the EU monetary system. It had goldman sachs fake it numbers to get in.

It's over for the greeks, I hope they planned ahead, this thing has been coming for years. I mean they just watched it happen to their fellow greeks in cyprus.

I cant believe this is all over a miserable 2 billion dollars heck the Fed loses that weekly down the back of a sofa.

Unfortunately I don't think the current Sariza party led by Tsipras planned for this, being that they didn't fully form until 2013. They got elected on the grounds to oppose these bailouts but it seems as late as a new captain opposed to breaking speed records across the Atlantic Ocean one hour after the Titanic hit that iceberg in 1912. I hope they leave the EU and go the BRIC banks but I don't think it will help them either way. a reply to: jellyrev

Greece needs like what? .. $11 billion?

Is that supposed to be a lot of money? .. that is a crisis?

Didn't our gov't spend that much on toilet paper or something..

originally posted by: MrSpad
The Greek people really need to clean house. The Greek government lied and hid how bad things were to get into the Euro hoping the EU would then have to bail them out of the mess they had created.

You've got no idea what you are talking about.
Yes previous governments lied, not just in Greece but even in Italy and some other "western European" nations. The Greek government cooked the books with help from Washington(surprise surprise..).
They did not enter the Eurozone with the belief that the EU would bail them out. Or are you some sort of psychic ?

Which the EU did over and over without ever really managing to get the Greeks to fix anything. I think they finally figured out that they were just tossing more money into a pit and that Greece had no intention of fixing anything.

And that's the fault of the EU. But in reality, you've got no concept of what's really going on. You see things as black and white, and your mind fails to even entertain the possibility that there are alternatives, that there's something else at play.

Luckily for the EU they have been preparing for a default for years, even forgiving 100 billion in Greek debt to limit the effect a default would have and moving a good chunk of the debt from private banks to Governments. For the EU they will take short term drop in the markets and some other problems but, that will all be short term . Again they have been preparing.

Oh, so that's why they wrote down some of the debt? LOL
They moved the debt from the banks to governments because it was A BAIL OUT OF THE GERMAN AND FRENCH BANKING SECTOR. Of course you wouldn't know because CNN hasn't told you that's what it was.

Greece on the other hand is in real trouble. That Government has lied so often about the state of it economy that likely they are in even worse shape than they are admitting. Got to feel sorry for the Greek people as they were as in the dark about how completely incompetent their government was.

Duhhh, of course Greece is in real trouble. This is the script and complicit corrupt Greek politicians many of whom were educated in American universities and part of some special fraternities were all too happy to go along with the script that they were part of creating. Ever wondered why there's always a Greek participation at things like Bilderberg(and that's the visible element mind you...)? A country whose economy represents no more then 2% of the European economy as a whole?

As for a Grexit as it is called. To much can happen to even begin to look at that. It would be a long term change of course so it could be stopped or changed by new governments etc.

A Greek exit from the Eurozone would be the best thing possible for the Greek people and for the future of Greece.
The Eurozone was not setup to spread prosperity to countries like Greece. It was setup to bulldoze the few export industries these countries had, while building up the German economy thus making them reliant on Germany.
The EU basically funded the destruction of agriculture in places like Greece and Portugal.

The US big concern is going to be a possible mass buying of the dollars and driving its value up. While China would love that it would hurt our own exports and that is bad.

The US's big concern when it comes to the Euro debt crisis is managing the fall out from a potential Greek exit from the Eurozone. Because if they aren't careful, the foolish Europeans will drive Greece straight into the hands of Putin.
An exit from the Euro could lead to an exit from the EU which could then lead to an exit from NATO and all NATO personnel going home and bases closed. That would then lead to the Russian's moving in. And it will happen quickly, they wont need to build bases because the bases are already there. A hangar is still a shelter for a jet regardless if it's made in Russia or America.

But that's an extreme scenario. It wont happen because before it even gets to the point where Washington has to intervene, the Greek military wont allow it to happen.
Because by that stage things in Greece will be very, very bad, and the military will be on the verge of intervening anyway. But a push by the leftist government(consisting of many communists who came over from the communist party btw) to take Greece out of the Western alliance will force the Greek generals hand.
And I can tell you it wont end well for any politician in Greece whose been involved with the corruption of the past few decades.

If need be the top generals will be replaced in the even that they are too politicized and their allegiances in question.

In fact you can bet your life savings that Washington already has such contingency plans in place.


The best thing is for Greece to leave the Euro and default. It should have defaulted when the EU and IMF proposed the bailout.
Taking on more debt to fix debt..well, it doesn't take a genius to work out that plan was doomed to fail.

All the more I can say is..things are going to get very, very interesting. Stay tuned for more.
There's a script being played out here. You'll see the rest soon.

originally posted by: TacticalStats
Unfortunately I don't think the current Sariza party led by Tsipras planned for this, being that they didn't fully form until 2013. They got elected on the grounds to oppose these bailouts but it seems as late as a new captain opposed to breaking speed records across the Atlantic Ocean one hour after the Titanic hit that iceberg in 1912. I hope they leave the EU and go the BRIC banks but I don't think it will help them either way. a reply to: jellyrev

They wont be going to BRICS because they are part of NATO and it's not an option.
There will be a civil war before Greece joins BRICS. Trust me on this one.

Syriza has a plan. They are mostly members of the communist party.
This is their big moment.
If you think this isn't part of the plan, the script being played out, think again.

This is all orchastrated. Nobody went into this blind or unprepared.

originally posted by: nOraKat
Greece needs like what? .. $11 billion?

Is that supposed to be a lot of money? .. that is a crisis?

Didn't our gov't spend that much on toilet paper or something..

It is when you don't have 11 billion.
It is when your so called allies want you to starve your self, sell half of your children, cut off your arm, and gouge out one of your eyes before they help you.

All just part of the big plan.

This has been planned and orchastrated and managed for decades now.
Go back and look for how many years Greek governments ran budget deficits of tens of billions. How many CONSECUTIVE years.
And look how little, in fact, nothing, was ever done to fix the economy. To reform the economy.
Check the lists of bilderberg meetings and see how many Greek politicians and billionaire tycoons were in attendance year after year.

People on this site like to talk conspiracies apparently.
There's a big conspiracy starring everyone in the face. Except everyones been blinded by the hype in the media to see it.

This was all planned.