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Greece about to default on 1 trillion $ of obligations...

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posted on May, 20 2011 @ 06:32 PM
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Prepare for economic kabooooooooooom in Europe.



It's about to get worse for Greece. The riots that we have seen so far will be nothing compared to what we're about to see.

Of course this will ``save`` the dollar since the Euro will go down.

And revolution is happening right now in Spain and will probably spread around.
Watch it live here

LONG LIVE THE REVOLUTION, OFF WITH THE BANKER'S HEADS!
edit on 20-5-2011 by Vitchilo because: (no reason given)




posted on May, 20 2011 @ 06:37 PM
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reply to post by Vitchilo
 



Of course this will ``save`` the dollar since the Euro will go down.


Isn't this the intention?

Create a crisis economically so that everyone flees to the safety of the dollar?

That won't happen...

Economic kaboom? Bring it.
The world needs to wake up and realize how they're being played.

~Namaste



posted on May, 20 2011 @ 06:59 PM
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The Greek debt crisis has been going on for a long time now. German Chancellor Angela Merkel was initially against bailing out Greece but in Feb she agreed to a bailout with strings.



Feb 22 (Reuters) - German Chancellor Angela Merkel said on Tuesday alongside Greek leader George Papandreou that rescheduling the repayment of Greece debts could be considered in the context of a comprehensive euro rescue package.


Merkel feels the deep cuts that are currently being required will prevent Spain and the other European countries from following in the footsteps of Greece. She appears to be the controlling vote in this situation. Unfortunately the Chief of the IMF Strauss-Kahn ended up indicted for rape the day before his scheduled meeting with her. Just coincidence I guess but it does make you wonder? Was Strauss Kahn going to try and force a leftist policy change on Merkel?



Published: 2 May 10
The deep cuts imposed on Greece in return for an emergency bailout will spur other troubled eurozone members into doing all they can to avoid the same fate, German Chancellor Angela Merkel said Sunday.

edit on 20-5-2011 by Bordon81 because: (no reason given)



posted on May, 20 2011 @ 07:02 PM
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reply to post by Vitchilo
 


Great! A race.
What is going to tank first? Dollar? Euro?



posted on May, 20 2011 @ 07:09 PM
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Well i am greek and tbh... people have stoped giving two f@#$ about anything anymore. People owe to banks, phone companies, car insurances and we simply say "I DONT HAVE MONEY. PUT ME TO JAIL OR SHUT UP".

This whole fake economic problem that started from USA and then came to europe is a travesti and nothing more.And lets say it was Greece's mistake for whatever happened. What about Ireland|? One of the best countries to put companies due to low taxation. How did that happened to them.

What's goin on is that some people are playin on the lives of millions. And you know whats going on when finally the masses get up and say "enough"? Cause thats the problem with masses... takes them too long to have initiative but when they start, its a locomotive with no brakes and whoever stands in front of it will be under it as well soon.

So as a greek, I got to say two things to the Germans who know only to boo us... US the greeks. The country that fought in WW1 and WW2 germany. The country that was the first in fightin off the nazis in whole europe. When most of those "advanced" "snob" countries that now tell us how to live our lives, those same countries in 5 days surrendered to the nazis or even gave up without a fight. And little Greece that was in constant war since 1821 up to that point, with no food and no economy fought the fascists for 219 days.



And now those same guyz are telling us (to ireland, portugal and so on) HOW to live our lives in our own countries.

People have small memories of WHAT Greeks are. Yea we are not perfect but we are one thing.

Good hearted people who ALWAYS fought for dignity and freedom. We were in Europe long before anyone else and we will be long after.

I am proud to be Greek lately than any other time... and all those european paper pushers can go F@#^ themselves and their DEBTS.

Do you know how much money GERMANY owes to greece for all their damages they made to us in WW2? We would be able to finish ALL our debt and still have enough to buy a country or two. But no German talks about that now does he?

I am sick and tired to hear Greece this and Greece that. Greece aint its politicians nor its debt. Greece is Greece and some of the European people should wash their mouth before speaking about this country with their mouth. And finally, I am the oposite of any fascist. My wife is Turk. Just to be clear of my words and not create any wrong impressions.

I realise this was a huge answer but I have these things in my heart long time and it came out now. Sorry if it seemed like a rant.
edit on 20-5-2011 by Alda1981 because: typo

edit on 20-5-2011 by Alda1981 because: (no reason given)



posted on May, 20 2011 @ 07:17 PM
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reply to post by Alda1981
 


Alda 1981

You should all go back to using the Drachma and dump the euro...

I always thought the 'snob' countries were never able to defeat and control by winning wars so now by having a 'federal europe' and currency then sort have got control now....

Like you, I would never ever like to see history forgotten, as it is a great teacher and I also never ever want to be part of the Euro currency........ it's pounds for me, even if that twit Gordon Brown did give away all the gold backing the currency..

PDUK



posted on May, 20 2011 @ 07:18 PM
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reply to post by Alda1981
 


Greece is clearly being used as the whipping boy by the European countries, not that the other world nations are that much better off. Can Greece inflate their currency or something as a defense?
Buying local products with the old Drachma and becoming independent might help but all the debt is in euro.
edit on 20-5-2011 by Bordon81 because: (no reason given)



posted on May, 20 2011 @ 07:25 PM
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reply to post by Bordon81
 

Bordon81

Bottomline here is that Greece will Default............ anything else is just going to delay the inevitable....

What's going to matter is the impact of non payment of debts and loaned monies to other countries...... How will this effect them and will it start another financial spiral ????

What do you think ?
I know what i think ?

PDUK



posted on May, 20 2011 @ 08:08 PM
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I watched a show last night from the "Filthy Cities" series regarding the French revolution in Paris.

The comparison of rich versus poor that led to the uprisings there (nobility versus commoners) and the interim "complaint" system (books for the commoners to write their complaints in) are a very good parallel to what is happening now in the US and Europe (substitute bankers/politicians for nobility, and internet forums for books).

Hats off to the people of Greece and Spain for standing up for themselves, and to Iceland for rejecting the "deal" to have their people pay for the banks' problems. There was a time when I think those in the US would have stood up like this as well, but to be honest I'm not so sure anymore. Guess we'll see when TSHTF here.

Also, here's a link to the show about Paris, for those who are interested:
www.youtube.com...



posted on May, 20 2011 @ 08:21 PM
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Looks like more divide and conquer. Now people are playing the blame game. Still pointing at each other and not seeing who is really behind all of this.

For those who are really interested in the nameless who are at the top of the heap behind all the bankers and corporations, I suggest you look into The Pilgrim Society. Unlike some of the "secret societies" this group is world wide.



posted on May, 20 2011 @ 08:26 PM
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reply to post by notsofunnyguy
 


Tale of two cities was a good book covering the period leading into the French revolution. The Greek debt situation is being blamed on Greek excesses in borrowing that got them into trouble from the point of view of the political right. The argument from the right goes that bailing out one nation in financial trouble while leaving other nations that were fiscally more responsible to struggle would be unfair. Problem is that this has been going on so long Greece is going to have to take extreme measures, default on their debt and become self sufficient somehow. And now we can see how the countries that got tied into the Euro currency are trapped. Who's eating cake?



posted on May, 26 2011 @ 06:26 AM
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reply to post by Bordon81
 


Greece isnt being used a whipping boy, they brought this on themselves. As soon as they had access to Germany's credit rating they went on an unsustainable borrowing binge.

Greece historically has been in default about half the time over recent history, this is nothing new. Much of the rioting is because so many in greece get money from the govt for doing nothing. Their economic model is unsustainable regardless of the currency. They need to get back to being a productive country.

Greece will have to default...however what is happening now is the IMF and EU are trying to force greece into selling its assets off in a fire sale. That is the real tragedy here, the greeks should tell them where to stick it, default and start again. Regain control of your own currency! Dont sell anything off, keep the country's assets in tact because the Greek people will need them to rebuild a shattered economy and political system.



posted on May, 26 2011 @ 06:57 AM
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i kinda think that Greek money managers and even the Government are buying the "Greek Default derivitives" that sources like Goldman Sachs sells....
of course they need to hide their activity from the shysters at GS etc
because then the Corporate money-gamers would figure out a way to sidestep paying out on the Faiiled Greek Nation derivitives...

i bet the unfunded liabilities are debts that are several years out and are really not payable...
because just like with the USA and Social Security/// the 'baby-boomers' might not make it to retirement !
there could be a old-ager plague that kills 95% of them off---therefore NO future unfunded liability
that is claimed to be some $108Trillion as of this date (26 May '11)



posted on May, 26 2011 @ 12:48 PM
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reply to post by zvezdar
 


Great post, this is what I believe also its like every economy are scouting round for scraps before the famine begins.



posted on May, 26 2011 @ 12:58 PM
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Originally posted by zvezdar
reply to post by Bordon81
 


Greece isnt being used a whipping boy, they brought this on themselves. As soon as they had access to Germany's credit rating they went on an unsustainable borrowing binge.

Greece historically has been in default about half the time over recent history, this is nothing new. Much of the rioting is because so many in greece get money from the govt for doing nothing. Their economic model is unsustainable regardless of the currency. They need to get back to being a productive country.

Greece will have to default...however what is happening now is the IMF and EU are trying to force greece into selling its assets off in a fire sale. That is the real tragedy here, the greeks should tell them where to stick it, default and start again. Regain control of your own currency! Dont sell anything off, keep the country's assets in tact because the Greek people will need them to rebuild a shattered economy and political system.



I rest my case.



posted on May, 26 2011 @ 02:53 PM
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reply to post by Alda1981
 


Alda1981

Watching the video early on the speaker says.....'' what the government has to do (in relation to a sell off) is pretty much impossible!''............ what is interesting is that those listening nod their heads in agreement.......

There you have it...... already resignation to a default............ why not just get the Heck on with it and let's start to get this Inevitable pain out of the way.......... quit stalling, stalling, stalling ......

Regards

PDUK

PS - great avatar

edit on 26-5-2011 by PurpleDog UK because: (no reason given)



posted on May, 26 2011 @ 04:06 PM
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reply to post by PurpleDog UK
 


But thats the thing. They don't let us do it. Because if we do preety soon greece would be one of the healthiest economies and all EU will drown from the money they will never collect. If it was in our hands we would do it in a second.

ps. thanks



posted on Jun, 19 2011 @ 08:29 PM
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Well the deal with Greece just fell through and markets will open in a few hours in Europe.

It's gonna be hilarious... hilariously bad.



posted on Jun, 19 2011 @ 08:39 PM
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Euro zone finance ministers postponed a final decision on extending a further 12 billion euros ($17 billion) in emergency loans to Greece, saying Athens would first have to introduce harsh austerity measures.



Europe delays decision on emergency loans to Greece

Read: 'Harsh austerity measures'! Ouch, the Greeks are not going to take too kindly to these proposals.



posted on Jun, 19 2011 @ 08:48 PM
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Originally posted by Vitchilo
Well the deal with Greece just fell through and markets will open in a few hours in Europe.

It's gonna be hilarious... hilariously bad.


Just saw this as well

Europe Fails to Agree on Greek Aid Payout

You know, I've watched the HBO movie "Too Big To Fail" (fantastic btw, highly recommended) and its like watching it happen all over again but this time its countries not banks.

I'm surprised, really thought France & Germany would pull another rabbit out of the hat for Greece. Bout to get very very interesting. Great post Vitchilo


brill



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