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Old 11-03-2011, 11:36 AM
 
12,344 posts, read 7,535,338 times
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Default Are the Greeks running a scam?

Does anyone realize that Greece now controls world markets? Does anyone else like me realize that officials in Greece have tomorrow's newspaper? All the Greek PM has to do is leak it, and then announce a referendum while someone holds a shot position, and then go long before he calls it off. If they keep doing this they could pay off their debt!
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Old 11-03-2011, 11:43 AM
 
Location: Sierra Vista, AZ
15,909 posts, read 11,382,278 times
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Quote:
Originally Posted by gwynedd1 View Post
Does anyone realize that Greece now controls world markets? Does anyone else like me realize that officials in Greece have tomorrow's newspaper? All the Greek PM has to do is leak it, and then announce a referendum while someone holds a shot position, and then go long before he calls it off. If they keep doing this they could pay off their debt!
No the Banks control the world markets and would rather destroy the worlds economy than live up to the fact that they made a bad investment. I recall Argentina going under several times, Iceland is bankrupt, Who cares if the banks lose money. Perhaps it will teach them not to be so irresponsible with other peoles money
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Old 11-03-2011, 12:04 PM
 
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Originally Posted by Boompa View Post
No the Banks control the world markets and would rather destroy the worlds economy than live up to the fact that they made a bad investment. I recall Argentina going under several times, Iceland is bankrupt, Who cares if the banks lose money. Perhaps it will teach them not to be so irresponsible with other peoles money
Really? What does that have to do with this unique little situation? I am not talking about how Greece got here. When the Greek PM waffles one way or another, he is moving markets. There are all kinds of humorous, ridiculous, tragic-comic and outrageous observations to be made here. The fact of the matter is a small, bankrupt country in Europe now has a financial power most of us can only dream about, and its because they are bankrupt. Do you not find that one of the greatest of ironies? If this is getting leaked anywhere, its worth billions every time the Greek PM blinks.

Oh, then of course lets not even discuss how such perfect capital markets can arrive at such a situation. Its a great system.
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Old 11-03-2011, 07:59 PM
 
Location: Sacramento
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Yes, Bernanke said as much days ago. It's not really about Greece... It's about the Eurozone. Once Greece goes, the others will start going one by one. Markets don't like uncertainty especially when you're talking about 20% of the world economy.
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Old 11-03-2011, 08:31 PM
 
Location: Sinking in the Great Salt Lake
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Quote:
Originally Posted by gwynedd1 View Post
Does anyone realize that Greece now controls world markets? Does anyone else like me realize that officials in Greece have tomorrow's newspaper? All the Greek PM has to do is leak it, and then announce a referendum while someone holds a shot position, and then go long before he calls it off. If they keep doing this they could pay off their debt!
No, they don't... Mass media just makes it sound that way. Fear sells newspapers and gets crooked new legislation passed to boot.

Please note how we now realize after the fact that the world would NOT have ended if TARP wasn't passed, despite the hype beforehand. The money was only used to pad investor's falls by letting them cash out with minimal losses.

Greek fear will allow the Powers That Be to solidify their control over Europe.
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Old 11-03-2011, 10:11 PM
 
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Originally Posted by Chango View Post
No, they don't... Mass media just makes it sound that way. Fear sells newspapers and gets crooked new legislation passed to boot.

Please note how we now realize after the fact that the world would NOT have ended if TARP wasn't passed, despite the hype beforehand. The money was only used to pad investor's falls by letting them cash out with minimal losses.

Greek fear will allow the Powers That Be to solidify their control over Europe.
The cat in the hat. The media will sell what Greece does.
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Old 11-09-2011, 08:49 PM
 
Location: New England
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Originally Posted by Malloric View Post
Yes, Bernanke said as much days ago. It's not really about Greece... It's about the Eurozone. Once Greece goes, the others will start going one by one. Markets don't like uncertainty especially when you're talking about 20% of the world economy.
Italy is apparently now going down in flames.
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Old 11-10-2011, 10:09 AM
 
Location: Ohio
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Quote:
Originally Posted by gwynedd1 View Post
Does anyone realize that Greece now controls world markets?
No, but I realize that what Greece owes amounts to 0.625% of the EU GDP and 0.133% of the US GDP.

In contrast, your debt is 100% of your GDP.
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Old 11-10-2011, 10:46 AM
 
12,344 posts, read 7,535,338 times
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Originally Posted by Mircea View Post
No, but I realize that what Greece owes amounts to 0.625% of the EU GDP and 0.133% of the US GDP.

In contrast, your debt is 100% of your GDP.

Mircea,

I'd say that the US will be remembered well along with the other societies steeped in myth like the ancient Egyptians. Our worship of math is such that there is a formula for everything, including one that proves that Manhattan will soon be floating on air.
The marriage of mathematic and economics has proven to be a disaster.

As always the flaw can be discovered to be a ridiculous premise.
debt = debt

Thus US debt = European sovereign debt is the flawed premise.

And since nothing seems to matter but debt, it implies

US assets = European assets.

Well, debt != debt

* debt owed to self
* debt owed to family.
* unsecured debt
* secured debt(what kind of asset? )
* debt service under rate of inflation
* debt service over rate of inflation.
* debt as money
* debt owned in money where you control money supply
* debt owed in money where money supply controlled by market
* debt owned in monopoly controlled money supply
* debt owed in severign currency
* debt owed in foreign sovereign currency
* debt owed from municipal to federal
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Old 11-12-2011, 03:18 PM
 
12,360 posts, read 7,585,388 times
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somebody is running a scam again, you mean.

look at history:

Having built the Federal Reserve as a tool to consolidate and control wealth, the international bankers were now ready to make a major killing. Between 1923 and 1929,
the Federal Reserve expanded (inflated) the money supply by sixty-two percent. Much of this new money was used to bid the stock market up to dizzying heights.
At the same time that enormous amounts of credit money were being made available, the mass media began to ballyhoo tales of the instant riches to be made in the stock market.
According to Ferdinand Lundberg:
"For profits to be made on these funds the public had to be induced to speculate, and it was so induced by misleading newspaper accounts, many of them bought and paid for by the brokers that operated the pools…"The House Hearings on Stabilization of the Purchasing Power of the Dollar disclosed evidence in 1928 that the Federal Reserve Board was working closely with the heads of European central banks. The Committee warned that a major crash had been planned in 1927. At a secret luncheon of the Federal Reserve Board and heads of the European central banks, the committee warned, the international bankers were tightening the noose. Montagu Norman, Governor of the Bank of England, came to Washington on February 6, 1929, to confer with Andrew Mellon, Secretary of the Treasury. On November 11, 1927, the Wall Street Journal described Mr. Norman as "the currency dictator of Europe." Professor Carroll Quigley notes that Norman, a close confidant of J. P. Morgan, admitted: "I hold the hegemony of the world." Immediately after this mysterious visit, the Federal Reserve Board reversed its easy-money policy and began raising the discount rate. The balloon which had been inflated constantly for nearly seven years was about to be exploded.

sound familiar?

the question is should people hold this kind of power over the lives of other people?
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