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Post Euro Drachma Shows up on Bloomberg.

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posted on Jun, 1 2012 @ 07:22 AM
This is more pointers to a greek euro exit.sorry the pic so small but dont know how
to make it bigger but click the link for a full size pic.It was taken by a quick thing trader.

We're looking into this, but we can confirm: There's something called the 'Greek Drachma (post Euro)' that's shown up on Bloomberg. We've seen tons of tweets and screengrabs of the page. Here's a picture of a terminal sent in by a trader. Note the fourth line.

Business Insider

Bloomberg are putting this down to a test so dont panic just carry on nothing to see here.
Well ok Mr Bloomberg if you say so.

According to the Bloomberg help desk, this is currently "an internal function which is set up to test."

Only 16 day to go till the Greek election so we will see if its really is a test soon.
And could someone tell me how to make pictures bigger that would be really nice.
edit on 1/6/2012 by skuly because: colour never works first time

posted on Jun, 1 2012 @ 07:32 AM
Yeah it's a test, but why are they testing it?

Portends of future events.

posted on Jun, 1 2012 @ 08:04 AM
here ya goes

posted on Jun, 1 2012 @ 08:39 AM
Nice catch! Interesting it is only a test. If I'm understanding correctly, why would they "test" that if Greece is still in the Euro? Seems pretty simple to me. Seems people know the outcome of this pretty assuredly.

posted on Jun, 1 2012 @ 03:42 PM
reply to post by skuly

I posted this on the other thread and got a troll for my troubles, thought I might have a better chance at getting an answer here.

I am ignorant, asking for information. How will Greece assign a value to their money? If they are so broke and in debt, I am not understanding how leaving the Euro will help. Isn't there a thingy that values currency world wide, will theirs have any value?

posted on Jun, 1 2012 @ 04:42 PM
reply to post by Iamschist

Greece is in a catch 22.

Go back to the Drachma and its value will drop through the floor making anything imported
in to greece very expensive but then they been in a resession for the last 5 years and life
is really bad.
Imported communities like oil,gas and food will rocket but people are eating
out of shop bins anyway and thats not a exaggeration.

The upside is the greeks are in control of they own finances not europe (germany) so they
can do a iceland and defalt on the debits.
It will take them a long time to recover but with out the debit hanging over them it should happen.

Stay in the euro and nothing changes and most of the money given to greece goes to the banks
that greece borrowed off.

posted on Jun, 1 2012 @ 04:48 PM
reply to post by skuly

Thank you for the reply. Who will determine the value of the currency and how? I think other countries will have to do this also and I don't understand how it works. America started on the gold standard, when they went off, it got confusing. I know that money is really just something we all agree has value, but doesn't it have to be based on something?

I understand it is to the benefit of Greece to leave the EU, and to default. I think banks caused all of this world wide.

posted on Jun, 1 2012 @ 05:57 PM
reply to post by Iamschist

The Money Markets which simply work on a surply and demand basis.

The Drachma will drop in value because no one will want it as the greek economy a
total mess.Say a company in the UK wants to buy 100 items from a Greek company
then it will need to buy Drachma with Pounds to do it.Thats the demand bit.

The amount of Drachma in the system also plays a part as if lots of UK companies
want to buy Drachma and there not a big enough surply then it value goes up.

But if there lots of drachma and nobody wants it its value goes down just think of
zimbarbwe and what happened there when they just keeped printing and printing.

Here a link to Khan Academy Finance section it will probably make a bit more sense
than me.
Khan Academy

posted on Jun, 1 2012 @ 11:25 PM
reply to post by skuly

Thank you again for helping to educate me. I understand what the video is saying, but I think it is insane. lol To give money a value based on supply makes no sense to me at all, it explains why a country would just print more, thinking what a great way to make money. I would agree. lol The link you provided has more than enough reading material. I am very out of my comfort zone here. It is like a big rabbit hole, with crooks at the bottom.

posted on Jun, 2 2012 @ 01:40 PM
Posted earlier here:

Please add further comments to the ongoing discussion in the above linked thread.

**Thread Closed**

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