*BREAKING: GREECE DEFAULT WATCH *

Looking at the 16% breakout level..

I think we are reaching a point of no return. Thanks for the thread!!

Doomalicious.

Just calling it like we see it..

Can you explain this stuff in layman’s terms please ?

In Laymans terms ..A defaulty by Greece would make Lehman Brothers default look like childs play...

Why is this a strange request ? Stock market and economics are not my strong suit !

It's not a strange request. My interpretation is that a Greek default would send financial shockwaves through out Europe, which would cause a serious economic contraction (One which would happen with or without Greece anyways, imo). Well, that's my 2 cents anyways! Peace.

That's why it will not happen.....soaring 10yr yld doesn't mean a thing...they will get another 100 billion....500 billion even, as long as we can keep the illusion alive a little longer....

The 'Illusion'...how profound....I like it...thanks..

technically Greece economy cannot create such doom event...since it's just a very low percentage of european economy

Greece has been (as other countries and cities) offered (read someone has been payed to accept) the Goldman loan.

Greece wont default until the country logistic cooperation to the war in ME will be assured or ...until it wont be necessary any longer

During the previous Israel war, Greece has been placed under a dictatorship engineered by Kissinger: The colonels Dictatorship. To assure whole Greek territory logistic usage. Israel cannot fight without using outer logistic support since the country is completely surrounded.

What happened to Greece now it's a modern version of what happened before.

Italian cooperations has been set in the same fashion.

BUT...in the moment Greece will be let to default, that will be a signal to all the banks to close their branches and not service people anymore. They will be able to run away with your money (or at least what of your money is still in there) and then collect more money from government buying more debt from IMF and Central Banks

The very same story happened in the 1931:

There are signs that an Austrian bank will take advantage of any default by Greece to shut up shop, cause panic and collapse the European banking system in a repeat of the crash in 1931 of Austria’s Credit Anstalt bank.

In May 2010, it was reported that a secret plan exists in the Interior Ministry — run by now Finance Minister Maria Fekter — for banks in Austria to close at short notice in the event of a default by Greece.

An Austrian bank could, therefore, be the institution that could collapse and send shockwaves across the system just as in 1931, as Alex Brummer in the Daily Mail fears.

“The pressures on the banking system have been anticipated but the great fear is that, as was the case during the Lehman disaster, there is some institution out there, which no one has thought about, which is heavily exposed and could fail, sending shock waves across the system,” he writes.

Read more: [link to www.dailymail.co.uk]

for the whole article :
[link to birdflu666.wordpress.com]

Yaaaaaay, my country is usefull again.... and be it only to collapse this shithouse of cards called economy and to break the illusion, lets flush the debt- system down the drain already !!!!!!!!!

insiders know which way the wind blows ...... so buy gold don't play their game

And that's why we won't default (at least not officially - because practically we have defaulted and operate as if we're in a state of bunkruptcy).

The Central European Bank, major German banks and French banks are exposed to Greek bonds.

There's a huge tug-o-war going on; some claim that Greek default followed by Euro collapse is good for the US dollar (and that's why the IMF's role is subtle), others say that it will lead to a global crisis.

For certain the EU doesn't want it to happen, and that's why they are helping while whipping us hard (imagine it's something like saving your wife's lover from drowning while cursing at him because he owes you 20k).

Last Edited by Demian on 05/19/2011 06:09 AM

What does the populace say about the problem?? Just curious..thanks

I agree it is really getting tricky now....but I don't think the big implosion is upon us now....it will take some more time to position everything so that when the "haircut" is announced , it will be the taxpayer once again who picks up the tab and not the banksters....they(tptb) will ofcourse communicate to us that this was the only solution and that economic mayhem has been avoided by their skillfull handling of the crisis....

Greece is effectively in receivership.

They have been owned.

Hey mr. Greek-guy....how are you doing?....can you tell me what the mood is in your country at the moment?....and do you think your people will accept the ausertity-mesures?....or will there be a revolution?....tnx....and good luck....

Hmmmm....ausertity???....oh well , you get my point....

Hoe denk jij dat dit afloopt?

The populace is divided; most are angry at politicians (corrupt or not) because we have reached the point we're at; others just shut up and hide themselves because thousands of them (and their relatives) have been employed in the public sector just because they had connections to an MP - and that led to hypertrophic public sector and a significant part of the overspending.
Also most realise that their way of living (luxury on borrowed money) can't go on - but it's hard for them to let go.
A significant part of society is also angry at the EU for being harsh as they are, but don't realise that the structuring of our system as well as our mentality bears a large part of the responsibility of the situation...

What I find strange is that it seems to be the big holiday destination countrys they are going under first. Greece, Portugal, Spain and even Ireland.

Niet goed.

Did you read the Dutch headlines today (forget which newspaper, but one of the majors) - basically, enough is enough. Not looking good.

Any time the IMF steps in, it means trouble.

YES YES YES......SPREAD THE WORD TO ALL GREEKS!!!!!!!!

DUMP THE EURO! DUMP THE EURO! DUMP THE EURO!

At the moment you are being BITCH SLAPPED BY THE FRENCH & GERMANS.

IF you stay you will be fucked in their DEBT FOREVER!!!

Incredible the EU let you guys get away with it so long....probably they didn't care untill tshtf....

Bob Chapman has commented extensively on the Greek crisis in the international forecaster. If Greece doesnt default and return to their old currency they will live as slaves for the rest of their lives.

Bob said that the goal of the IMF is to get Greece to collateralize their national assets which include their airline, airports, ports, utilities etc.

Thats because the IMF want the assets of those nations.

For the friend from the Netherlands:

No, I don't see a revolution very near; a lot of people are well off (using legal or not so legal means) so they just sit and wait, expecting their head will stay above the water when TSHTF.
Of course society (esp. the lower classes) is boiling and there's a lot of talk about "a potential spark igniting the fire" but I don't see it happening. Not yet at least.
You don't see massive demonstrations yet; and you don't see a groundbraking change at opinion polls yet, just a drastic decrease in the popularity of the two major political parties.