Greek banks closed on Monday. state of emergency.

Hi. Just a small thread to inform all that the Greek banks have been declared as being closed on Monday. There is little information as of yet but will update. This could be interesting on Monday with this and the China markets opening again after a bad Friday. link

a reply to: liteonit6969 An unexpected bank holiday is never good news. I hope people there can get their money.

Yep. People want their money. Because the bank refuses to give it up, the people want it even more.

Who can blame them. Its their country, right? Their money… riiight?

They say the ATMs are empty.

I wonder if the contractors are laid off?



The black markets are thriving.

a reply to: liteonit6969
I have been following this for a couple weeks. In those e couple weeks the Greeks have been pulling money out of the banks by the billions. I also heard this morning that the Greek government is going to possibly pull out of the European union. Not pay the money they owe. Ill see if I can dig up some links and then edit my post.
www.huffingtonpost.com...



www.bloomberg.com...

www.theguardian.com...

This would be a good situation to watch to see how it might be handled in other countries in the future. This seems a lot like a dress rehearsal for what could happen in the US and Europe.

This is scary but I'm not surprised it's happening. Ever since they missed their first payment and decided to roll all their payments into one at the end of this month I knew it was not going to happen.

I hope those poor people got their money out!

a reply to: Tarzan the apeman.


Yep, they're saying an exit from the EU is inevitable.

weve been warning about this for a while now......And people said we were crazy ...telling everyone to look at Greece and watch......warning of a run on the banks and people pulling out their money .......its coming for Greece........

Weve also been saying that the same thing is coming for the US if things dont change.......

originally posted by: ManBehindTheMask
weve been warning about this for a while now......And people said we were crazy ...telling everyone to look at Greece and watch......warning of a run on the banks and people pulling out their money .......its coming for Greece........

Weve also been saying that the same thing is coming for the US if things dont change.......

This falls down in Greece and the contagion will spread to the EU who holds all the Greek junk debt. Then we'll see what the economic impact is there and how wide THAT contagion spreads. The US may not hold any Greek debt, but we are very closely linked to the EU, and if it suffers financial problems, then that will impact our economy in time.

a reply to: ManBehindTheMask

The Greeks will learn the hard lesson of what happens when you let the banks fail and localize government. Killing the parasite improves the heath of the host.

The US will never learn that lesson. A long chain of parasites. The top parasites never figure out the host is dying or dead.

a reply to: liteonit6969

Many knew this would happen when people lined up at the ATM's over the weekend......Greece is going to fail. The Euro is also going to fail in short order and we will see the rise of nationalism in Europe again.



Who's next.....Spain.....Italy........Progressive social ideals.....FAIL.

here's marketwatch...
www.marketwatch.com...

not good, time to hit the ole' ATM for some cash, good thing I have my money in a fairly small regional credit union.....CNBC will be monitoring this early Monday morning that's for sure.....pulling cash out Monday, before they say I can't have anymore.

a reply to: Metallicus

It has already happened here. It caused the "Great Depression."

originally posted by: BuzzyWigs
It has already happened here. It caused the "Great Depression."

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

How is this going to affect stock and dollar value in the US

originally posted by: onequestion

How is this going to affect stock and dollar value in the US

The only thing the market dislikes is uncertainty, if Greece and the European Union come to any sort of resolution the market will react, up or down, and then stabilize.

People who understand the system will profit regardless of the ultimate decision.

originally posted by: BuzzyWigs
a reply to: Metallicus

It has already happened here. It caused the "Great Depression."

The crashes that are coming.......Me thinks will be Epic and even bigger than the great depression. What we will see will truly change the world as currencies and governments fail in mass. Many countries bought into the progressive liberal lie and banks used this weakness to gain strong footholds. PTB love power and control so when people are willing to give up rights and freedom they will jump on the opportunity.



When crashes happen it can give rise to even greater evils......Look at Germany in the 1930s. Bottom line if you put the rights of the masses before individual rights the country will fail.....It might take awhile but it will fail.

originally posted by: onequestion
How is this going to affect stock and dollar value in the US

If it is only Greece......Not that bad in the near term. The Euro just like the USD is a fiat currency backed only by faith and when people question that faith............



Do not get me wrong Greece crashing is.....HUGE. I believe we could even see war as nationalism rears it ugly head again.

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. 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.

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.

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.

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.

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.