Greece Is About To Dance A Wild Sirtaki


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    G.G. Bain Bazaar and Greek pageant at Manhattan Trade School for Girls 1909 On January 22, the ECB has another meeting, and investors – as well as EU
    [See the full post at: Greece Is About To Dance A Wild Sirtaki]


    Those US-under-30-households net worth numbers are pretty meaningless given the housing bubble in 2007 (and prior). Must be some YUPPIE couples out there really raking it in to keep it that high. I’m actually surprised the average isn’t negative at this point, but maybe that’s a year off yet.


    One of the big questions I have is how likely is a war to preserve the EU? All the talk of how expensive it is for Greece to stay or leave, and how Germany does not want to spend money either way. I hope that means no action either way. But most likely will be an inconclusive Greek election, coupled with a less decisive government action in Greece than projected. Please let there be more muddle…

    John Day

    Here is an equalizing partial-solution to the odious Greek debt.
    Odious debt can be legally repudiated under international law, such as when a dictator runs up a big bill, is deposed, and the people of the country rightfully refuse to pay what was never their choice to begin with.
    What if something like $68 billion of Greek military weapons purchases, half from Germany, and half from other countries, for dry-docked submarines and useless tanks, were bought with borrowed money, due to billions of dollars in bribes to Greek officials involved in purchasing decisions?
    Yeah, it sounds plausible, because it happened.

    (Now, let’s get back to the argument that Greece was never really a member of financial union since it joined under false pretenses when Goldman cooked the books.)


    Maybe Greece needs another military coup

    Phillips Talbot, the U.S. ambassador in Athens, disapproved of the coup, complaining that it represented “a rape of democracy”, to which Jack Maury, the CIA station chief in Athens, answered, “How can you rape a whore?”

    No mincing words with those CIA guys.

    John Day

    The US diplomat in the Wikipedia link is named as “John Day”, which s a relatively common name, though I was previously unaware of this person bearing “my” name, before reading it.


    As much as the Euro needs to go, it will take more than an election in Greece to make that happen. It will hang on much longer than we think is possible., If there is one lesson that should be ingrained from the past several years, and numerous financial shenanigans, it’s that TPTB can pull many rabbits out of that hat and keep a zombie financial system barely alive for years. Greece will not be allowed to screw up plans made much higher up on the decision making ladder.


    “As much as the Euro needs to go, it will take more than an election in Greece to make that happen.”

    It might take a little more than that, but not much. What if the Euro takes a swan dive, like the Ruble?

    What’s to stop whoever it is that’s in charge from causing (or allowing) a crash about 10 X bigger than 2008, in order to scare everyone, and then imposing a 1-world currency? With modern, debit card technology, this would be fairly easy.

    Bingo. All the debt is reset to zero, all the banks are recapitalized, all the derivative books are squared, and the top 1% still have all the wealth.

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