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Comments on Greece: Are You READY?
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User Info Greece: Are You READY? in forum [Market-Ticker]
Eighty6thebs
Posts: 4183
Incept: 2007-06-26
Green
It's contained to sub-prime!
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I think we need a pole on when the fed and ecb issue a joint statement saying they will back all swaps and they are money good for collateral.

That's the final bazooka statement ...garunteing the 100 trillion in swaps.


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"Sounds to me like you guys a couple of bookies" - Billy Ray Valentine

"No I am not scared, and neither should you be!" - Iraqi Information Minister
Onelegged
Posts: 267
Incept: 2009-11-13

NW Colorado
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Yup, I have read that there are rumors of Ireland already grumbling that they want a similar deal to Greece. What tangled webs are weaved. I'm poppin' up some corn and settling if for this one.

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The light at the end of this tunnel is a train.
Obseedian
Posts: 11872
Incept: 2007-07-26
Silver
BBRY Central
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Quote:
How do you see Germany as 1st? They have a strong manufacturing and export economy and a highly compliant tax culture.

Who's Germany going to export to? Most of their exports go to other European countries, including PIIGS countries that are buying those exports with money loaned to them...by Germany.

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Would you give your money to these banks? http://bankimplode.com/list/troubledbank....

“Those who vote decide nothing. Those who count the vote decide everything.” - Joseph Stalin
Bjonsson
Posts: 350
Incept: 2010-03-10
Gold
California
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Mish pointed out on his blog that the Greek 1 year bond yield just broke 1000%....

http://globaleconomicanalysis.blogspot.c....
Zacmilo
Posts: 96
Incept: 2009-07-14

australia
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The last minute Greece is saved rally will be epic.
Mattytrader
Posts: 40
Incept: 2010-08-18

NY/NJ
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http://www.newsday.com/long-island/suffo....

"but... we thought we had enough free money to give away to everyone?? How could this be"


This is exactly whats gonna happen ALL OVER THIS COUNTRY... Like Dominoes!!! But since i have market-ticker.. i saw this comin ;)
Harrisonact
Posts: 1756
Incept: 2010-10-04

canada
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The glue to cement this being the beginning of the plunge is instigation of a large diversion elsewhere, say...Iran,

Syria would do in a pinch

should either occur it's **** Greece, PIIGS, defaults, all that becomes background noise in a war economy. war economy ultimately. bank it. Go long NAPALM... :)

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bilge
My playbook speaks español. Deal with it. Im too lazy to fix it.

Checkthisout
Posts: 167
Incept: 2010-10-01
Green
Cary, NC
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Yeah, Obama is beating the war drum tonight on Iran.

Great distraction from our beloved Nobel Peace Prize winner.

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There are no gun free zones where free men tread.
Mo
Posts: 12158
Incept: 2007-06-26
Silver
Pa.
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Quote:
The last minute Greece is saved rally will be epic.


lol.

At SOME point, they have to cut Greece loose and let the games begin there. Whether that's now, two weeks from now, 2 months from now or whenever, it's inevitable.

I don't think Greece on fire means the whole world goes immediately into depression, however. First, all the money has to come HERE. It will be Nothing's priceless dollar scenario. How long THAT lasts is anyone's guess, but maybe Karl knows.

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Welcome to Pottersville
Spanktron9
Posts: 2790
Incept: 2009-03-13
Gold
Reality.
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Quote:
The last minute Greece is saved rally will be epic.


^^^THIS^^^.

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"Winter is coming." -Motto of House Stark
"Mo'lon La'be"- Leonidas
"Strong people are harder to kill than weak people, and more useful in general" - Mark Rippetoe
"Its like Calvinball."-MarvinMartian
Fraudster
Posts: 4176
Incept: 2011-05-10
Green
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Capital is going to flee Europe if they let Greece go. It will got to the US/UK/Japan while Europe implodes. Then (in no particular order) the UK and Japan will implode. Finally, the US will implode. I do not know where China fits into all of this.

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"Let China sleep, for when she wakes, she will shake the world." - Napoleon Bonaparte

"Circulation ceases first at the outer edges [Europe and Japan]. It will take a while yet for the decay to reach the heart [America]." - Foundation & Empire by Isaac Asimov
Wakeupcall
Posts: 4234
Incept: 2009-06-08
Green
Hampton Roads, VA
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Mo, can you expand on "Nothings priceless dollar scenerio"?

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“Nothing travels faster than the speed of light, with the possible exception of bad news, which obeys its own special laws.”
Mo
Posts: 12158
Incept: 2007-06-26
Silver
Pa.
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Wakeupcall, Nothing was a poster here back in the pre-meltdown era who had a thesis that immeidately prior to a reset in the US, all the world would flee from currencies like the Euro and speculative investments into the dollar as it will be the last currency standing. At that point, the dollar's value will go to the stratosphere and become 'priceless'.

That would be the last imbalance prior to the meltdown.

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Welcome to Pottersville
Mattc
Posts: 185
Incept: 2011-11-07
Green
Texas
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China will collapse right along with us. Make no mistake about that. They'll pay for their little Yuan/Dollar peg too someday.

That being said, I see no risk of Europe blowing up right now. Look at the Italian 10-year yield, it's below 5%.
Andyc
Posts: 333
Incept: 2010-10-24


Banned
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They will bomb Iran 5 minutes before or after its truly over

I think they are just waiting until the diversion is needed.



: (
Jubber
Posts: 14174
Incept: 2007-07-05
Gold
UK
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Anyone reckon AIG have written any of these CDS's?

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“The problem with socialism is that, sooner or later, you run out of other people’s money.” Thatcher
Jubber
Posts: 14174
Incept: 2007-07-05
Gold
UK
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why is the market moving up if the CDS's are going to trigger, shouldn't we be crapping off?

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“The problem with socialism is that, sooner or later, you run out of other people’s money.” Thatcher
Buckeye
Posts: 512
Incept: 2008-03-03
Green
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Who is at risk for the CDS written? Do banks or insurance companies write these?
Themortgagedude
Posts: 8853
Incept: 2007-12-17
Green
saint louis
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AIG written any of these??? Why yes of course and Jamie and Lloyd will be paid in full.

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I'm already visualizing you with duct tape over your mouth.
Dvanderp71
Posts: 603
Incept: 2007-08-05
Green
Amsterdam
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Participation is now at 39%. Only 27% to go?

And if they don't make it, they will just extend the deadline again, I am sure.
I believe that is also the issue here, they're losing credibility - fast.

The Greek Purchasing manager's index on Markit has also gone completely through the floor now, Greece is imploding.
Zarathustra
Posts: 5961
Incept: 2009-04-29
Silver A True American Patriot!
Funkytown
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Didn't Bloomberg say the rate was 58%?

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"And in knowing that you know nothing, that makes you the smartest of all." - Socrates
Asimov
Posts: 104066
Incept: 2007-08-26
Gold
East Tennessee Eastern Time
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Yup, 58% now. Only thing is, they need 90-95% minimum. And that's just to get the debt to GDP to 120% by 2030 or something, which isn't sustainable anyway.

I think they also need 90-95% for more money from the IMF.

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It's justifiably immoral to deal morally with an immoral entity.
If you trade based on what other people say, you will lose money. Especially what I say. I won't be held responsible. Festina lente.
Asimov
Posts: 104066
Incept: 2007-08-26
Gold
East Tennessee Eastern Time
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IE: They're *****ED*

No clue why the hell the euro is ramping on this.

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It's justifiably immoral to deal morally with an immoral entity.
If you trade based on what other people say, you will lose money. Especially what I say. I won't be held responsible. Festina lente.
Ramthebulls
Posts: 10860
Incept: 2007-09-24
Gold A True American Patriot!
Queens, NY
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Asimov: As low as 66% can get it done. Depends on who you believe. When in doubt, assume the lowest possible threshold will equal "success" in the eyes of the gullible media. I'd guess it is a done deal.

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Umbrage is like love. No matter how much someone takes, there's always more for you to give.
Steelpiston71
Posts: 4868
Incept: 2007-09-05
Green
Michigan
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Most of the big 5 banks have written CDS exposure in Europe, can't remember the link, but I had read it was as much as 90%. They wouldn't collect, they would pay out.

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"We have resolution authority under Frank/Dodd... How about we USE IT?" Karl Denninger, 10/07/10 on the Dylan Ratigan Show, MSNBC.
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