Greece to Collapse Monday Afternoon

[saxitoxin]

Late last night zerohedge reported ...

Greek Curve Goes Apeshit: Bloomberg Reports 3 Month Bid At 21.3%

If this information is correct, it is all over. Bloomberg calculates the yield on the Greek 3 Month as determined by the bid, or where investors are willing to buy it, based on BVAL sources at 21.3%. In all honesty the bid/offer market in the 3 Month are all over the place. HDAT gives it as 99.650x99.840, BVAL is at 99.470x99.773. The HDAT bid implies a yield of 14.049%, which is still game over for Greece.
http://www.zerohedge.com/article/greek- ... th-bid-213

Expect riots in Athens by late Monday or Tuesday at the latest as Greek banks begin shutting-off ATMs. If the EU does not immediately expel Greece next week we are looking at systemic failure throughout the Eurozone and the collapse of the euro. If the EU does expel Greece next week we are looking at a military coup in Athens.

Either way, hotel rates in Greece should make it an attractive and affordable destination for summer holiday bookings so hold-off on making your holiday plans until the end of the month.

[saxitoxin]

Breaking Update: Germany Just Agreed to Lend to Greece at 5% instead of 22%

http://www.businessweek.com/news/2010-0 ... ate1-.html

Good News: Greece Will Survive

Bad News: Germany is Now in a Suicide Pact with Greece; if this doesn't work out both Greece and Germany will collapse into anarchy

The meetings are over,
The treaties suspended,
The armies start marching,
The EU is ended.

[Symmetry]

Breaking Update: Germany Just Agreed to Lend to Greece at 5% instead of 22%

http://www.businessweek.com/news/2010-0 ... ate1-.html

Good News: Greece Will Survive

Bad News: Germany is Now in a Suicide Pact with Greece; if this doesn't work out both Greece and Germany will collapse into anarchy

The meetings are over,
The treaties suspended,
The armies start marching,
The EU is ended.

But... but... if it's a suicide pact and Greece will survive, doesn't that mean that just Germany will die?

[saxitoxin]

Breaking Update: Germany Just Agreed to Lend to Greece at 5% instead of 22%

http://www.businessweek.com/news/2010-0 ... ate1-.html

Good News: Greece Will Survive

Bad News: Germany is Now in a Suicide Pact with Greece; if this doesn't work out both Greece and Germany will collapse into anarchy

The meetings are over,
The treaties suspended,
The armies start marching,
The EU is ended.

But... but... if it's a suicide pact and Greece will survive, doesn't that mean that just Germany will die?

grownups would like to have a chit-chat, Sym

perhaps you could try this thread instead?

viewtopic.php?f=8&t=110182

Thanks, Symmetry!
- Saxi!

[Symmetry]

Breaking Update: Germany Just Agreed to Lend to Greece at 5% instead of 22%

http://www.businessweek.com/news/2010-0 ... ate1-.html

Good News: Greece Will Survive

Bad News: Germany is Now in a Suicide Pact with Greece; if this doesn't work out both Greece and Germany will collapse into anarchy

The meetings are over,
The treaties suspended,
The armies start marching,
The EU is ended.

But... but... if it's a suicide pact and Greece will survive, doesn't that mean that just Germany will die?

grownups would like to have a chit-chat, Sym

perhaps you could try this thread instead?

viewtopic.php?f=8&t=110182

Thanks, Symmetry!
- Saxi!

Kids would like grown-ups not to mix their metaphors. It gets a bit confusing.

[saxitoxin]

Breaking Update: Germany Just Agreed to Lend to Greece at 5% instead of 22%

http://www.businessweek.com/news/2010-0 ... ate1-.html

Good News: Greece Will Survive

Bad News: Germany is Now in a Suicide Pact with Greece; if this doesn't work out both Greece and Germany will collapse into anarchy

The meetings are over,
The treaties suspended,
The armies start marching,
The EU is ended.

But... but... if it's a suicide pact and Greece will survive, doesn't that mean that just Germany will die?

grownups would like to have a chit-chat, Sym

perhaps you could try this thread instead?

viewtopic.php?f=8&t=110182

Thanks, Symmetry!
- Saxi!

Kids would like grown-ups not to mix their metaphors. It gets a bit confusing.

ARRGGGGH, ya' got me good, Symmetry!

Thanks, Symmetry
- SAXI!

[Symmetry]

Breaking Update: Germany Just Agreed to Lend to Greece at 5% instead of 22%

http://www.businessweek.com/news/2010-0 ... ate1-.html

Good News: Greece Will Survive

Bad News: Germany is Now in a Suicide Pact with Greece; if this doesn't work out both Greece and Germany will collapse into anarchy

The meetings are over,
The treaties suspended,
The armies start marching,
The EU is ended.

But... but... if it's a suicide pact and Greece will survive, doesn't that mean that just Germany will die?

grownups would like to have a chit-chat, Sym

perhaps you could try this thread instead?

viewtopic.php?f=8&t=110182

Thanks, Symmetry!
- Saxi!

Kids would like grown-ups not to mix their metaphors. It gets a bit confusing.

ARRGGGGH, ya' got me good, Symmetry!

Thanks, Symmetry
- SAXI!

It's ok, I'm not really a kid. And call me Sym. Symmetry is so... formal.

Sym

[SultanOfSurreal]

greece jumped the shark like 3000 years ago anyway

[Symmetry]

greece jumped the shark like 3000 years ago anyway

Meh- 1453, fall of Constantinople. Greek refugees hit Europe, carrying Greek philosophy with them, and the ability to read the New Testament. Renaissance!

[saxitoxin]

greece jumped the shark like 3000 years ago anyway

I could care less about Greece. I'm concerned about Germany in a suicide pact with Greece and what happens if it comes to pass.

I want to think that we Germans have learned how not to behave during an economic depression after the way we acted during the last one but let's not test it.

[nietzsche]

Pardon my ignorance, and my lack of will for using google.. but, what was the problem in Greece? Bad mortgages like in the US?

If Greece goes bankrupt, I'm willing to buy Athens, such a beautiful history. We should support them by visiting Athens. For those who know nothing, it was in Greece where civilization as we know it started.

[Symmetry]

Pardon my ignorance, and my lack of will for using google.. but, what was the problem in Greece? Bad mortgages like in the US?

If Greece goes bankrupt, I'm willing to buy Athens, such a beautiful history. We should support them by visiting Athens. For those who know nothing, it was in Greece where civilization as we know it started.

Mostly the problem is massive state employment, as far as I understand it. Huge sections are employed by the government. When the government hit financial difficulties in the current crisis, there was no way to maintain the status quo.

That and Greece uses the Euro. Allowing it to fail would impact other Euro states and destabilise and delegitimise that part of the European economy.

The problem is that Greece needs to reform it's economy, but is too big to fail.

[nietzsche]

Pardon my ignorance, and my lack of will for using google.. but, what was the problem in Greece? Bad mortgages like in the US?

If Greece goes bankrupt, I'm willing to buy Athens, such a beautiful history. We should support them by visiting Athens. For those who know nothing, it was in Greece where civilization as we know it started.

Mostly the problem is massive state employment, as far as I understand it. Huge sections are employed by the government. When the government hit financial difficulties in the current crisis, there was no way to maintain the status quo.

That and Greece uses the Euro. Allowing it to fail would impact other Euro states and destabilise and delegitimise that part of the European economy.

The problem is that Greece needs to reform it's economy, but is too big to fail.

/me dust off his Almanaque Mundial: Industry: Food, beverages, tabaco, chemicals, textiles, shoes. Agriculture: olives, tomatoes, wheat, corn, grapes, oranges, watermelons, peaches, apple, rice and lemon; Ganaderia(pardon my spanish) :cows, pork, sheep; Exports: Food, clothes, aluminium and tobaco. Imports 3 times (in money) what it exports. External Debt 92,19 usd billions.

All this as of 2008.

There must be a lot of money entering by tourism too.

Doesn't seem that bad to me. Maybe it has to do with mortgages too?

[saxitoxin]

Pardon my ignorance, and my lack of will for using google.. but, what was the problem in Greece? Bad mortgages like in the US?

If Greece goes bankrupt, I'm willing to buy Athens, such a beautiful history. We should support them by visiting Athens. For those who know nothing, it was in Greece where civilization as we know it started.

Mostly the problem is massive state employment, as far as I understand it. Huge sections are employed by the government. When the government hit financial difficulties in the current crisis, there was no way to maintain the status quo.

That and Greece uses the Euro. Allowing it to fail would impact other Euro states and destabilise and delegitimise that part of the European economy.

The problem is that Greece needs to reform it's economy, but is too big to fail.

Greece, Spain and Italy need to reform their economies. The latter two are only a few paces behind Greece in the Race to Oblivion. Even the fiscal situation in the UK is nearly as grim as Greece with Britain's structural budget deficit now the highest in the developed world. The Bank for International Settlements just last week said British sovereign debt is now crossing the "danger threshold."

This makes poor ol' Saxi not very keen on things at all as he has considerable investments tied up in the UK. If it goes down I may have to forfeit my lodge in San Juan Batista and relocate permanently to Tecate. Problem is, the Mexican government won't issue Saxi more than a tourist visa which means Saxi will be sans place to live 6 months out of the year, or become an illegal immigrant in Mexico. Saxi may have to crash on Army of God's sofa.

[Symmetry]

Pardon my ignorance, and my lack of will for using google.. but, what was the problem in Greece? Bad mortgages like in the US?

If Greece goes bankrupt, I'm willing to buy Athens, such a beautiful history. We should support them by visiting Athens. For those who know nothing, it was in Greece where civilization as we know it started.

Mostly the problem is massive state employment, as far as I understand it. Huge sections are employed by the government. When the government hit financial difficulties in the current crisis, there was no way to maintain the status quo.

That and Greece uses the Euro. Allowing it to fail would impact other Euro states and destabilise and delegitimise that part of the European economy.

The problem is that Greece needs to reform it's economy, but is too big to fail.

/me dust off his Almanaque Mundial: Industry: Food, beverages, tabaco, chemicals, textiles, shoes. Agriculture: olives, tomatoes, wheat, corn, grapes, oranges, watermelons, peaches, apple, rice and lemon; Ganaderia(pardon my spanish) :cows, pork, sheep; Exports: Food, clothes, aluminium and tobaco. Imports 3 times (in money) what it exports. External Debt 92,19 usd billions.

All this as of 2008.

There must be a lot of money entering by tourism too.

Doesn't seem that bad to me. Maybe it has to do with mortgages too?

Seems very possible, and I'm all for visiting Greece- it's a great country. I'd guess tourism would be a bit down given the current state of the global economy, so that might well be a factor as well. Unfortunately the government hit the crisis with a massive deficit, and few ways to rectify that internally. Hence the Eurozone appeal.

Any more than that and you'll have to ask someone better at the underlying economics.

[nietzsche]

Pardon my ignorance, and my lack of will for using google.. but, what was the problem in Greece? Bad mortgages like in the US?

If Greece goes bankrupt, I'm willing to buy Athens, such a beautiful history. We should support them by visiting Athens. For those who know nothing, it was in Greece where civilization as we know it started.

Mostly the problem is massive state employment, as far as I understand it. Huge sections are employed by the government. When the government hit financial difficulties in the current crisis, there was no way to maintain the status quo.

That and Greece uses the Euro. Allowing it to fail would impact other Euro states and destabilise and delegitimise that part of the European economy.

The problem is that Greece needs to reform it's economy, but is too big to fail.

Greece, Spain and Italy need to reform their economies. The latter two are only a few paces behind Greece in the Race to Oblivion. Even the fiscal situation in the UK is nearly as grim as Greece with Britain's structural budget deficit now the highest in the developed world. The Bank for International Settlements just last week said British sovereign debt is now crossing the "danger threshold."

This makes poor ol' Saxi not very keen on things at all as he has considerable investments tied up in the UK. If it goes down I may have to forfeit my lodge in San Juan Batista and relocate permanently to Tecate. Problem is, the Mexican government won't issue Saxi more than a tourist visa which means Saxi will be sans place to live 6 months out of the year, or become an illegal immigrant in Mexico. Saxi may have to crash on Army of God's sofa.

saxi, are you sure you don't like tecate only because the beer?

There's no such thing as a illegal immigrant in Mexico, everybody is welcome.

So, if this is correct, with so many countries in deep trouble, we can agree that something is going waaaay wrongly. What would it be your educated guesses as to the solution worldwide? Should every country print their own bills and forget about globalization for a while? Eat their own food? It worked for china.

[saxitoxin]

There must be a lot of money entering by tourism too.

Doesn't seem that bad to me. Maybe it has to do with mortgages too?

(1) Greece had a successful lemonade stand. One of the best in the world.

(2) Greece used the proceeds from the lemonade stand to buy a 2010 Saab 9-3.

(3) No matter how good your lemonade may taste, you can't buy a Saab 9-3 off the profits from a lemonade stand.

(4) Greece is now so far in debt that they are in danger of default.

(5) As a risk of their default danger the Greek government's interest rates to borrow money have increased to 22%, loan-shark rates.

(6) At a 22% interest rate the Greek government can't pay the interest of new debt but can't survive without said new debt.

(7) Banks close. ATMs stop working. Inflation goes into quadruple digits. Unemployment hits 50%. Riots.

(8) These men arrive in Syntagma Square to fix everything:

[nietzsche]

There must be a lot of money entering by tourism too.

Doesn't seem that bad to me. Maybe it has to do with mortgages too?

(1) Greece had a successful lemonade stand. One of the best in the world.

(2) Greece used the proceeds from the lemonade stand to buy a 2010 Saab 9-3.

(3) No matter how good your lemonade may taste, you can't buy a Saab 9-3 off the profits from a lemonade stand.

(4) Greece is now so far in debt that they are in danger of default.

(5) As a risk of their default danger the Greek government's interest rates to borrow money have increased to 22%, loan-shark rates.

(6) At a 22% interest rate the Greek government can't pay the interest of new debt but can't survive without said new debt.

(7) Banks close. ATMs stop working. Inflation goes into quadruple digits. Unemployment hits 50%. Riots.

(8) These men arrive in Syntagma Square to fix everything:

Uhm.. makes sense, we do the same in Mexico (import more than what we export) but we have lots of oil, and sell a lot of drugs to the US.

[saxitoxin]

saxi, are you sure you don't like tecate only because the beer?

That's the only reason Saxi likes Tecate! (that, and, ol' Saxi used to be quite the cyclist in his younger days and even tried out for the All-DDR Cycling Team, though - sadly - didn't make it ... so likes to help out with the bicycle race at one of the first aid booths)

So, if this is correct, with so many countries in deep trouble, we can agree that something is going waaaay wrongly. What would it be your educated guesses as to the solution worldwide?

The international peace-loving peoples of the world must express global solidarity in a spirit of Dadaistic and Syndicalist revolution and finalize the victory of the march to Marxism-Leninism and the international socialist order toward a communal, agrarian and craft-based economy.

[nietzsche]

So, if this is correct, with so many countries in deep trouble, we can agree that something is going waaaay wrongly. What would it be your educated guesses as to the solution worldwide?

The international peace-loving peoples of the world must express global solidarity in a spirit of Dadaistic and Syndicalist revolution and finalize the victory of the march to Marxism-Leninism and the international socialist order.

Can it be rephrased? I don't like being told what to do. Can we separate Socialism from Marx and Lenin? They are like evil like in everybodies mind. I know tho, that Marx was an erudite, but yet, can we call it something like: The Era of Love Between All Nations ??

[saxitoxin]

So, if this is correct, with so many countries in deep trouble, we can agree that something is going waaaay wrongly. What would it be your educated guesses as to the solution worldwide?

The international peace-loving peoples of the world must express global solidarity in a spirit of Dadaistic and Syndicalist revolution and finalize the victory of the march to Marxism-Leninism and the international socialist order.

Can it be rephrased? I don't like being told what to do. Can we separate Socialism from Marx and Lenin? They are like evil like in everybodies mind. I know tho, that Marx was an erudite, but yet, can we call it something like: The Era of Love Between All Nations ??

Truly you are correct, the international socialist regime will be the era of love between all nations as the concept of the nation-state is only a mirage hoisted on the backs of the working class by the slave-bosses of the pig capitalists.

However, the heroes of the people - such as Marx and Lenin - can serve as talismans to inspire them on their quest for a world free from racism, oppression and nuclear weapons.

Though, it is not just Marx and Lenin but other heroes like Hugo Eberlein, Nazim Hikmet, Che Guevera, Margot Honecker, Rosa Luxemburg, August Spies, Adolph Fischer and the other martyrs who constantly inspire the working class to achieve their destiny.

In a spirit of unity and class radicalism with working families everywhere!
- Saxitoxin

[nietzsche]

saxi, how do you feel in tecate, an educated opinionated man between beer, earthquakes and violence? and I venture to say between people you can't share ideas with?

[saxitoxin]

saxi, how do you feel in tecate, an educated opinionated man between beer, earthquakes and violence? and I venture to say between people you can't share ideas with?

The people of Tecate are the most kind-hearted, generous people in the world and Baja California the most beautiful place on Earth. There are many bright and intelligent people in Tecate - even the American writer Danny Reveles, though I've never met him. I have always felt perfectly safe. Also, I have a 10-foot tall decorative rock wall with broken glass on the top ledge, an 11-component CCTV system, audible alarm system triggered to all the doors and windows, air-sealed panic room, internally-activated tear gas launchers facing onto the lanai, 3 German Shepherds retired from the Cuban National Revolutionary Police on free run, 4 Česká Zbrojovka pistols, ballistic glass on ground-floor windows, double deadbolts and crash bars on exterior doors, and the meanest cleaning woman you've never met.

[SultanOfSurreal]

That and Greece uses the Euro. Allowing it to fail would impact other Euro states and destabilise and delegitimise that part of the European economy.

good news, american dollar! deus ex machina all up in this bitch saving your ass

[Symmetry]

That and Greece uses the Euro. Allowing it to fail would impact other Euro states and destabilise and delegitimise that part of the European economy.

good news, american dollar! deus ex machina all up in this bitch saving your ass

German Euros, rather than American dollars, but sure...