Godlike Productions - Conspiracy Forum
Users Online Now: 1,766 (Who's On?)Visitors Today: 528,864
Pageviews Today: 778,154Threads Today: 205Posts Today: 3,976
07:38 AM


Rate this Thread

Absolute BS Crap Reasonable Nice Amazing
 

Greek Situation - Too Little Too Late - Default a High Probability

 
Anonymous Coward
User ID: 946396
United States
05/08/2010 09:32 PM
Report Abusive Post
Report Copyright Violation
Re: Greek Situation - Too Little Too Late - Default a High Probability
oh god

a bald english guy

i thought weirdo englishmen joined people like Koresh or went to africa or stuff

baldo's always think they are smart

i think that is why they lose their hair- to show off thier
head

hey baldo- how about this - greeks are dumb and lazy so they are broke

they don;t field an army, they look at bad art, they think they have some glorious past which i think involves naked male statues or something


the evidence is clear- spain- itlay- greece- irleand
drinking lazy folk

and i think irland has no snakes because their men have no balls - can't even unify their island. snakes would scare them
Anonymous Coward
User ID: 964996
Malaysia
05/08/2010 09:35 PM
Report Abusive Post
Report Copyright Violation
Re: Greek Situation - Too Little Too Late - Default a High Probability
Why don't they just let Greece die?

Why prolong the suffering by "helping" them?

Greece fully deserves everything that coming its way - bankruptcy, default, riot, death, rot, collapse, war, starvation, incest, doom - since they are lazy and totally unproductive and wasteful.

Let greece die !

[link to www.zerohedge.com]

Great Video explaining the situation

Tim Backshall Of CDR Summarizies The Greek Predicament In 3 Quick Minutes
Submitted by Tyler Durden on 05/07/2010 15:43 -0500

Bear Stearns Greece Gross Domestic Product Kool-Aid

One of the smarter people out there, yet one who constantly confuses his hopium kool-aid for other more alcoholically infused beverages, Credit Research's Tim Backshall, provides our temporally challenged viewer a 3 minutes crystal summary on the next steps for Greece (sorry, no Hollywood ending here), what record negative basis spreads mean (ref: Hollywood ending), on why idiots who say Greece is irrelevant with its mere 3% of European GDP are idiots (ref: Bear Stearns), what the contagion will look like, and how a Greek restructuring will be effectuated (will, not may).
 Quoting: aVian
Anonymous Coward
User ID: 965047
United States
05/08/2010 10:31 PM
Report Abusive Post
Report Copyright Violation
Re: Greek Situation - Too Little Too Late - Default a High Probability
I Love Greece.

_________________________________hf
Anonymous Coward
User ID: 792204
United States
05/08/2010 10:37 PM
Report Abusive Post
Report Copyright Violation
Re: Greek Situation - Too Little Too Late - Default a High Probability
I Love Greece.

_________________________________hf
 Quoting: Anonymous Coward 965047

Greece is cool, my neighbor is on his way there as we speak to go to a wedding.

I told him it might not be the best time to going there.

He didn't seem to worried about it.
Anonymous Coward
User ID: 964996
Malaysia
05/08/2010 10:39 PM
Report Abusive Post
Report Copyright Violation
Re: Greek Situation - Too Little Too Late - Default a High Probability
I Love Greece.

_________________________________hf
 Quoting: Anonymous Coward 965047





Doesn't matter.

Its time has come.

Let Greece die.
Anonymous Coward
User ID: 618285
United States
05/08/2010 10:43 PM
Report Abusive Post
Report Copyright Violation
Re: Greek Situation - Too Little Too Late - Default a High Probability
I hear crickets chirping..

once more no answers, no cool comebacks..

awwww....

Might have to do with the fact that ole Georgy the socialist failed. How about some fresh election dates then? lmao
 Quoting: Anonymous Coward 964768


the only comeback is the truth of what is and will happen.

you will see your country broken like shards of glass ....

you will complain that it's not your fault.

you will argue about something that is completely irrelevent...for years to come as you live day to day hand to mouth.

you don't get it, do you?

your country is not going to recover.
then Brazil, Spain, Portugal, Mexico...

THEN THE U.S.

AND ALL OF YOUR STUPID FUCKING ARGUMENTS WILL BE OVER AS WWIII BEGINS.
GONG

User ID: 154004
Italy
05/08/2010 11:02 PM
Report Abusive Post
Report Copyright Violation
Re: Greek Situation - Too Little Too Late - Default a High Probability
I Love Greece.

_________________________________hf





Doesn't matter.

Its time has come.

Let Greece die.
 Quoting: Anonymous Coward 964996



They up there dont care anything about the greek or greece, they know they cant allow it to fail or the whole castle of card they built with this EU consitution piece of shit passed against the people will, will go with it and the euro die shortly after because countries start to leave the eurozone.

Do you really think these are some sort of philantropists up there?

lmao

The money they will give to greece are gonna come back to them in form of credits they have with greece!, while greeks peoples will be iper taxed and their salary reduced to 500 miserable euro months that in europe dont make you able even to survive alone imagine if you have a family, it's all a shame there is more about all this than just a few miserable billions euros.

You out there should just keep your mouth shut cause you are assholes who know nothing and talk out of your asses.
“Skepticism is the easiest way: believe nothing, do nothing.

UFO sightings archives [link to www.v-servers.eu]
Anonymous Coward
User ID: 955875
Malaysia
05/08/2010 11:08 PM
Report Abusive Post
Report Copyright Violation
Re: Greek Situation - Too Little Too Late - Default a High Probability
% wise, USA in deeper shit than Greece.
"safe dollar" my ass.
Anonymous Coward
User ID: 781193
05/08/2010 11:09 PM
Report Abusive Post
Report Copyright Violation
Re: Greek Situation - Too Little Too Late - Default a High Probability
The european reaction to all that is rather embarrasingly semi-professional and reminds one of a chicken coop when the fox is in.




No,
It is not the 'European reaction' to blame but rather YOUR GERMANY'S STUPID REACTION, IT WAS MERKEL who created a huge mess, and I'm not the one who says so but your own parliament and she will pay that on the forthcoming elections.



it is not "my" germany as well as well as you are not "the greeks". could we stop blaming each other and play 'their' game of divide et impera, please? if i could, i would rush to help and defend you and your country against what is done to you, so please do not attack me.

and do you really believe that the election manoeuvers of frau pantsuits are the only wrongdoing and reason for the huge mess to be critizised here? you still seem to not see the larger picture. she is a puppet. and germany is well-known and extremely professional in the role of the mean evil eternal wrongduer. reality is: our whole political system is a corrupt pigsty, our parliament is a rumpus of gasbags who are too silly to understand what they are voting for and our large banks and companies are part of a globalized turd of ruthless elitists excercising powergambles of the worst possible kind. and this nation dares to be embarrassed by the "greek sluttery" as was written in some newspapers. i am so ashamed and angry about my own country i cannot tell you!

at least your poeple go on the streets. mind be borrowing a little pride from that fact to cover my shame that my fellow countrymen are to plugged to do anything?



Thank you for reminding me about the 'divide' thing, but try to remember it again when somebody else from 'your' country say that we are lazy and its good to expell and isolate us. How about that for 'divide and conquer'?


It is useful if you note that there is a HUGE Turkish Muslim population in Germany today. They would follow suit with whatever their government would tell them because it is keeping close ties with them.
Would it be too much to say that all the anti-Greek hysteria in Germany might had something to do with all those Muslim voters lobbying, or to say it more precisely BLACKMAILING about in view of the coming elections in Germany, in the hope they would help their Muslim government in Turkey to start a resource grab with some oil consortium in the Aegean?


Do you think, that Germans are happy about Turks in Germany ? I'm sure they aren't. But there is no way out.
 Quoting: Skylla 964818


I think most are because they do not want to be anything like a "Nazi".

Fuck that, I curse my grandfather fighting for America and given the chance I would proudly have served under Hitler.

Fuck the globalist bankers and elites trying to destroy all of the West.
SilverPatriot

User ID: 938262
United States
05/08/2010 11:13 PM

Report Abusive Post
Report Copyright Violation
Re: Greek Situation - Too Little Too Late - Default a High Probability
Well, he didn't fluff that at all.

It's getting ugly, and quick, get your arses out of the Euro market.

Sounds like a now or never scenerio.


watch sunday night the european markets

black monday ahhh
 Quoting: aVian


I believe if the markets do poorly on Monday and the government cannot computer control the numbers then we might be looking at a bank holiday coming our way very soon.

However, it is just as likely that they might be able to manipulate the market through the computer system to hang on for a few more months of fake trading.

In a local NY paper the Poughkeepsie Journal, they have a section called “Speak Up” and today’s question is, “Do you worry about terrorist attacks?, and at this time 48.3% of the people responded answered affirmatively while 51.7% were not worried by terrorist attacks. I strongly suspect that the majority of people would not believe that the outbreak of violence would be worse than Greece.

I believe our government will try it’s best to hide reality from American citizens and we can see that now by the Goldman Sacks case as if they were the only guilty parties involved with dubious transactions.

Speak Up
[link to www.poughkeepsiejournal.com]
Anonymous Coward
User ID: 921374
Australia
05/08/2010 11:27 PM
Report Abusive Post
Report Copyright Violation
Re: Greek Situation - Too Little Too Late - Default a High Probability
They pushed this BS for to long and to hard on our throats and now they will get what they deserve, call it divine justice lmao.

And btw Greeks dont have to pay anything back if they default because it was all the time a rigged game made by investment bankers who had nothing other than fake numbers on a terminal who have no value.

bastards are gonna go down really hard, if the euro crash the dollar crash, the bankers out of the scene no microchip no more fake enemies and terrorist BS and a new start.
 Quoting: GONG

I agree!

Ashes to ashes,
Dust to dust,
Money created out of thin air can go back to thin air!
Anonymous Coward
User ID: 964996
Malaysia
05/08/2010 11:33 PM
Report Abusive Post
Report Copyright Violation
Re: Greek Situation - Too Little Too Late - Default a High Probability
Yeah, I dunno about nothing, but then, does Greece knows what it has been doing all these while?

The whole world is producing stuffs, inventing stuffs, making stuffs that can be sold, that can add value to the investment they have put in, that can make money.

Greece? What the fuck has it to offer the world?

Virgin Olive Oil.

Yeah, that's it, Virgin Olive Oil.

Other than that, nothing.

Even the so-called "tourist attractions" are couple of piece of stones, ramnants from ancient Greece, thousands of years old, that is nothing to do with the modern Greeks.

The modern Greeks are a bunch of wooosies. They are lazy, unproductive, stupid and wasteful.

Imagine doing nothing, getting welfare paycheck, and still want to enjoy year end bonus?

Bonus for what? Bonus for doing nothing?

That's exactly what the modern Greeks are all about.

Lazy, unproductive, stupid and wasteful.

Let them rot.

While the whole world, from Argentina to Vietnam to the United States to Japan are working tirelessly in producing stuffs that can make money, the Greeks are doing nothing.

But then it's not only the Greeks.

The Italians aren't exactly productive either.

So do the Portugese and the Spanish.

No wonder they are all in deep shit.






I Love Greece.

_________________________________hf





Doesn't matter.

Its time has come.

Let Greece die.



They up there dont care anything about the greek or greece, they know they cant allow it to fail or the whole castle of card they built with this EU consitution piece of shit passed against the people will, will go with it and the euro die shortly after because countries start to leave the eurozone.

Do you really think these are some sort of philantropists up there?

lmao

The money they will give to greece are gonna come back to them in form of credits they have with greece!, while greeks peoples will be iper taxed and their salary reduced to 500 miserable euro months that in europe dont make you able even to survive alone imagine if you have a family, it's all a shame there is more about all this than just a few miserable billions euros.

You out there should just keep your mouth shut cause you are assholes who know nothing and talk out of your asses.
 Quoting: GONG
Anonymous Coward
User ID: 928496
Korea, Republic of
05/08/2010 11:35 PM
Report Abusive Post
Report Copyright Violation
Re: Greek Situation - Too Little Too Late - Default a High Probability
.
.
.
..........Parallelgesellschaft.........
.
.
.
Anonymous Coward
User ID: 793351
Australia
05/09/2010 01:49 AM
Report Abusive Post
Report Copyright Violation
Re: Greek Situation - Too Little Too Late - Default a High Probability
Greece and Goldman Sachs

The Greeks have been over-spending for decades. I mean stupid stuff, such as allowing civil servants to retire in their 40’s, and permitting their unmarried or divorced daughters to collect their pension after they have died. Government-owned and hugely unprofitable Olympic Airways, government-owned and unprofitable utilities, hundreds of benefit programs and subsidies of every sort, have made Greece the classic example of government gone wrong, thanks to politicians, naturally. The same has gone on in most nations, and especially Portugal, Spain, Japan, Ireland, the UK, and of course The United States. Not a single citizen in any of the beleaguered nations with debts to the sky, voted for these debts. I didn’t vote to make America have a $13 trillion current debt, did you? I am certain that not a single Greek voted for out of control spending either, but once all these ‘ programs’ and bailouts were in place, it is virtually impossible to ever get them off, at least without riots, strikes, and violence, which happen to be going on right now in Greece. It will happen here too, and especially in the big cities, mark my words.

In order to make their huge payment due in early May, the Greeks didn’t know what to do other than beg and borrow. They cut programs and bailouts, but that’s resulting in civil unrest. Germany has a strong economy, and its government thought seriously about bailing out Greece. The Germans howled in anger over that proposal, but it happened anyway. Forget the opinion of the populace! The IMF loaned, as did other foolish national treasuries, so Greece has been saved...for a short time. How can Greece ever pay back the loans? Any euros it borrows will command huge interest rates, because its credit rating has been reduced to “Junk.” I wouldn’t loan Greece an ounce of gold, and I am sure you wouldn’t either. Too big a risk. Quite a quandary for Greece, repaying the loans, and believe me, the exact same thing will happen to Spain, Portugal, Japan, the UK, and of course right here in America. Spain is in virtually the same predicament as Greece, and it has an economy five times as large as Greece. All thanks to stupid, greedy politicians...and in this case...Goldman Sachs. How?

From a February article in of all places, the New York Times, comes the crookedness of both Goldman Sachs as well as Greek politicians. From the Journal piece:

“In order to use the euro as currency, a nation can not have more than a certain portion of its economy in debts. Greece was way over the limit. Goldman Sachs came up with an answer which would merely push off the day of reckoning till a future date. The first thing they did was to fabricate an instrument which would push Greece’s health care debt far into the future, similar to a homeowner taking out a second mortgage. It had worked before. In 2001, just after Greece was admitted to Europe’s monetary union, Goldman helped the government quietly borrow millions, people familiar with the transaction said. That deal, hidden from the public view because it was treated as a currency trade rather than a loan, helped Athens to meet Europe’s deficit rules, while continuing to spend beyond its means. As in the American sub-prime crisis, financial derivatives played a role i n the run up of Greek debt. Instruments developed by Goldman Sachs, J.P. Morgan Chase, and a wide range of other banks, enabled politicians to mask additional borrowing in Greece, Italy, and possibly elsewhere. In dozens of deals across the continent, banks provided cash upfront, in return for government payments in the future, with those liabilities left off the books. Greece, for example, traded away the rights to airport fees, and lottery proceeds for years to come. Wall Street did not create the Greek debt problem, but bankers enabled Greece to borrow beyond their means, in deals that were perfectly legal.”

The Senate grilled Goldman Sachs big shots, and never did get a good answer to their questions. They did a perfectly ‘legal;’ thing, and that was to sell junk to the unwary, shallow, vote hungry politicians, and then short on the deal, and make a lot of money. Did Goldman make a lot of commissions helping Greece get into trouble? Did they profit hugely from the shorts after selling the instruments? Of course, and it was perfectly “legal.” Did any citizen or group of citizens vote for it? Of course not! Who will pay? The only political answer is, MORE TAXES! Politicians are so god-awful stupid, and economically illiterate, that the bunch of them should be voted out today, not in November.

Now, the Obama clique is speaking of a VAT (value added tax) which taxes an item at every single stage of its manufacture or production. I have an idea: CUT SPENDING! The Tea Party Movement has nothing to with race, but about both Republican and Democrat wild spending, just like in Greece. All the spending over the decades since FDR, has given us and other nations, an underclass, which depends on the handouts, public housing, food stamps, and all sorts of government freebies, paid by us in the form of declining dollar value and outrageous taxes, to simply live, copulate, and produce endless more numbers of the underclass. When the s--t hits the fan, and politicians finally decide to cut spending to pay at least some of the debt, the underclass will riot, burn, and ransack. Get out of the big cities, and protect yourself with gold and silver, against a surefire, oncoming, hyper-inflation.

Regards,
Don Stott
Colorado Gold.com
 Quoting: Wake Up
Anonymous Coward
User ID: 793351
Australia
05/09/2010 02:04 AM
Report Abusive Post
Report Copyright Violation
Re: Greek Situation - Too Little Too Late - Default a High Probability
Kanenas.

You do know we have a failed socialist government that took control and created all this mess.
You do know this was arranged with wall Street sharks.
You don't know how Germany was pushed by the US to be in a European currency zone.

In Brzezinski's own words the US would be watching Germany in an European Monetary zone and they would feel safer about it, so Germany would not go unchecked in the future.
Now I don;t understand what that unchecked mention was about Germany, it;s not like they would vote some new Hitler in power. I think Germany got to this mess because Us insisted. So Germany ended up having to carry the rest of the Eurozone on its back because the US wanted to play safe if with Russia would go unchecked in the future.

Guess what. THEY FAILED!

And now WE are paying for it.

So It's not the Germans.
 Quoting: Anonymous Coward 964768
Lester

User ID: 963740
United States
05/09/2010 02:16 AM
Report Abusive Post
Report Copyright Violation
Re: Greek Situation - Too Little Too Late - Default a High Probability
Haven't seen a Don Stott editorial in 3 or 4 years. He still is saying "protect yourself" at the end. It has always been good advice.


This isn't about Greece.

This is the fallout from the Fiat Nuclear Bomb of derivatives. Dead Men Walking, the whole fiat world. Walking and looking fine till each nation falls over dead, its internal organs cooked by Derivative Fallout.

2 years ago, it was admitted that the USA had originated over 500 Trillion of Derivatives. In the midst of all the chaos, bank bailouts, TARP, and collapse, USA firms have continued to grow their derivatives exposure. Now there are over $750 Trillion in USA originated derivatives and about $1.5 Quadrillion of them worldwide.

Derivatives are a mechanism of fraud. An excuse for arson. American taxpayers bailed out derivative holders via AIG and all the other money the Fed Reserve and Treasury created but refuse to identify to whom it was routed. Derivatives cost neither party more than a nominal amount.

Understand, in a $50,000,000 derivative; neither party puts up $50m and neither party performs a $50M service or pledges a $50M asset. No, there is no contract; no quid pro quo other than the contract which is like an insurance policy purchased with intent of arson.

USA lawmakers are all compromised and have all been
complicit in the fraud. Michael Walker, CPA; former CEO of the GAO Government Accounting Office, retired rather than continue to take part in the fraud, This was in March 07 and for reasons just cited. Google his name and see for yourself....


Think of this as organized theft on a Global basis. Derivatives are everywhere. Before the latest trade and production downturns, The World GDP (total annual production) was about $50 Trillion. Does it make sense that there are Derivatives written that comprise about 30 times that amount?

All is fraud.

It is time to refute and refuse this bogus "obligation" and leave nations and businesses to sort their problems our for themselves.

Wait and see if nuclear war doesn't occur to prevent forensic accounting investigations from reveealing who got what and under what circumstances.

If GOVT anywhere cared about not being culpable and party to this fraud, it could declare moratorium on derivatives and suspend obligation under them. Could have been done in August 2008. Yet, Govt is complicit and at fault.
Anonymous Coward
User ID: 964746
Germany
05/09/2010 07:20 AM
Report Abusive Post
Report Copyright Violation
Re: Greek Situation - Too Little Too Late - Default a High Probability
really, is not that funny how our dear u.s.-american friends sing such a loud proud tune? and whilst singing so prodly your own praises, gleefully looking down on europe you totally oversee the financial pigsty in which you yourself reside so full of your american pride for gods own country.

dear friends, it may come out that we europeans have a crucial advantage in that whole mess we are in together with you and half the rest of the globe: we remember war and terrible times very strongly, even if most of us now are too young too have themselves seen the harshness of such times. it is in the collective mind.

does anyone really believe this shit unfolding now in greece could get the greeks down? they survived far worse shit and still exist, they may be lazy and "unproductive", corrupt and macho but you will be surprised how able they are to overcome this next hardship in their history.

you really should be aware that this 'lazy nation at the end of the balkans with those rotten old marble statues of naked men' is made of the inhabitants of exactly that country were, for instance, most of the architectural style of all your important government buildings in washington d.c. comes from. besides the whole democracy and mythological stuff on which your forefatherts based your nation upon.

on what do you think your whole glorious nation is based upon? on paririe grass myth and native indian hut style?

oh dear, you sometimes really seem to have no idea ...

huffy
Kanenas

User ID: 964755
Greece
05/09/2010 07:33 AM
Report Abusive Post
Report Copyright Violation
Re: Greek Situation - Too Little Too Late - Default a High Probability
Haven't seen a Don Stott editorial in 3 or 4 years. He still is saying "protect yourself" at the end. It has always been good advice.


This isn't about Greece.

This is the fallout from the Fiat Nuclear Bomb of derivatives. Dead Men Walking, the whole fiat world. Walking and looking fine till each nation falls over dead, its internal organs cooked by Derivative Fallout.

2 years ago, it was admitted that the USA had originated over 500 Trillion of Derivatives. In the midst of all the chaos, bank bailouts, TARP, and collapse, USA firms have continued to grow their derivatives exposure. Now there are over $750 Trillion in USA originated derivatives and about $1.5 Quadrillion of them worldwide.

Derivatives are a mechanism of fraud. An excuse for arson. American taxpayers bailed out derivative holders via AIG and all the other money the Fed Reserve and Treasury created but refuse to identify to whom it was routed. Derivatives cost neither party more than a nominal amount.

Understand, in a $50,000,000 derivative; neither party puts up $50m and neither party performs a $50M service or pledges a $50M asset. No, there is no contract; no quid pro quo other than the contract which is like an insurance policy purchased with intent of arson.

USA lawmakers are all compromised and have all been
complicit in the fraud. Michael Walker, CPA; former CEO of the GAO Government Accounting Office, retired rather than continue to take part in the fraud, This was in March 07 and for reasons just cited. Google his name and see for yourself....


Think of this as organized theft on a Global basis. Derivatives are everywhere. Before the latest trade and production downturns, The World GDP (total annual production) was about $50 Trillion. Does it make sense that there are Derivatives written that comprise about 30 times that amount?

All is fraud.

It is time to refute and refuse this bogus "obligation" and leave nations and businesses to sort their problems our for themselves.

Wait and see if nuclear war doesn't occur to prevent forensic accounting investigations from reveealing who got what and under what circumstances.

If GOVT anywhere cared about not being culpable and party to this fraud, it could declare moratorium on derivatives and suspend obligation under them. Could have been done in August 2008. Yet, Govt is complicit and at fault.
 Quoting: Lester



Of course and it is not about Greece and I hope that others get it too.

It just happens that some retards get a proxy from any country and spell their bullshit.
Its evident who they are and why they do it.
Anonymous Coward
User ID: 793351
Australia
05/09/2010 07:53 AM
Report Abusive Post
Report Copyright Violation
Re: Greek Situation - Too Little Too Late - Default a High Probability
Greece and Goldman Sachs

The Greeks have been over-spending for decades. I mean stupid stuff, such as allowing civil servants to retire in their 40’s, and permitting their unmarried or divorced daughters to collect their pension after they have died. Government-owned and hugely unprofitable Olympic Airways, government-owned and unprofitable utilities, hundreds of benefit programs and subsidies of every sort, have made Greece the classic example of government gone wrong, thanks to politicians, naturally. The same has gone on in most nations, and especially Portugal, Spain, Japan, Ireland, the UK, and of course The United States. Not a single citizen in any of the beleaguered nations with debts to the sky, voted for these debts. I didn’t vote to make America have a $13 trillion current debt, did you? I am certain that not a single Greek voted for out of control spending either, but once all these ‘ programs’ and bailouts were in place, it is virtually impossible to ever get them off, at least without riots, strikes, and violence, which happen to be going on right now in Greece. It will happen here too, and especially in the big cities, mark my words.

In order to make their huge payment due in early May, the Greeks didn’t know what to do other than beg and borrow. They cut programs and bailouts, but that’s resulting in civil unrest. Germany has a strong economy, and its government thought seriously about bailing out Greece. The Germans howled in anger over that proposal, but it happened anyway. Forget the opinion of the populace! The IMF loaned, as did other foolish national treasuries, so Greece has been saved...for a short time. How can Greece ever pay back the loans? Any euros it borrows will command huge interest rates, because its credit rating has been reduced to “Junk.” I wouldn’t loan Greece an ounce of gold, and I am sure you wouldn’t either. Too big a risk. Quite a quandary for Greece, repaying the loans, and believe me, the exact same thing will happen to Spain, Portugal, Japan, the UK, and of course right here in America. Spain is in virtually the same predicament as Greece, and it has an economy five times as large as Greece. All thanks to stupid, greedy politicians...and in this case...Goldman Sachs. How?

From a February article in of all places, the New York Times, comes the crookedness of both Goldman Sachs as well as Greek politicians. From the Journal piece:

“In order to use the euro as currency, a nation can not have more than a certain portion of its economy in debts. Greece was way over the limit. Goldman Sachs came up with an answer which would merely push off the day of reckoning till a future date. The first thing they did was to fabricate an instrument which would push Greece’s health care debt far into the future, similar to a homeowner taking out a second mortgage. It had worked before. In 2001, just after Greece was admitted to Europe’s monetary union, Goldman helped the government quietly borrow millions, people familiar with the transaction said. That deal, hidden from the public view because it was treated as a currency trade rather than a loan, helped Athens to meet Europe’s deficit rules, while continuing to spend beyond its means. As in the American sub-prime crisis, financial derivatives played a role i n the run up of Greek debt. Instruments developed by Goldman Sachs, J.P. Morgan Chase, and a wide range of other banks, enabled politicians to mask additional borrowing in Greece, Italy, and possibly elsewhere. In dozens of deals across the continent, banks provided cash upfront, in return for government payments in the future, with those liabilities left off the books. Greece, for example, traded away the rights to airport fees, and lottery proceeds for years to come. Wall Street did not create the Greek debt problem, but bankers enabled Greece to borrow beyond their means, in deals that were perfectly legal.”

The Senate grilled Goldman Sachs big shots, and never did get a good answer to their questions. They did a perfectly ‘legal;’ thing, and that was to sell junk to the unwary, shallow, vote hungry politicians, and then short on the deal, and make a lot of money. Did Goldman make a lot of commissions helping Greece get into trouble? Did they profit hugely from the shorts after selling the instruments? Of course, and it was perfectly “legal.” Did any citizen or group of citizens vote for it? Of course not! Who will pay? The only political answer is, MORE TAXES! Politicians are so god-awful stupid, and economically illiterate, that the bunch of them should be voted out today, not in November.

Now, the Obama clique is speaking of a VAT (value added tax) which taxes an item at every single stage of its manufacture or production. I have an idea: CUT SPENDING! The Tea Party Movement has nothing to with race, but about both Republican and Democrat wild spending, just like in Greece. All the spending over the decades since FDR, has given us and other nations, an underclass, which depends on the handouts, public housing, food stamps, and all sorts of government freebies, paid by us in the form of declining dollar value and outrageous taxes, to simply live, copulate, and produce endless more numbers of the underclass. When the s--t hits the fan, and politicians finally decide to cut spending to pay at least some of the debt, the underclass will riot, burn, and ransack. Get out of the big cities, and protect yourself with gold and silver, against a surefire, oncoming, hyper-inflation.

Regards,
Don Stott
Colorado Gold.com


What Don from Colorado doesn't know is that this debt had gone sky high because the good old US insisted Greece only buys stuff from them. Expensive stuff like warplanes, warships etc. priced like even 20% above original price.
Whenever they tried to go to the Russians to get some bang for the buck US was going like

jihad2

So here it is.
 Quoting: Anonymous Coward 964768
Anonymous Coward
User ID: 1279274
United States
04/10/2011 11:29 PM
Report Abusive Post
Report Copyright Violation
Re: Greek Situation - Too Little Too Late - Default a High Probability
yodabump
Anonymous Coward
User ID: 753397
United States
03/09/2012 10:29 PM
Report Abusive Post
Report Copyright Violation
Re: Greek Situation - Too Little Too Late - Default a High Probability
bump

News