dataispower (OP)
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June 18, 2015, 06:53:50 PM |
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Millions of euros withdrawn from cash-strapped Greece's ATMs "BBC's James Reynolds reports from Athens on the affect the financial crisis is having on businesses, and the increase of withdrawals from cash machines. As many as 1.5bn euros have been withdrawn in a week." http://www.bbc.com/news/business-33192254
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cellard
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June 19, 2015, 02:04:46 AM |
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Some claim that Greece will descend into madness and it will be the apocalipse unless they pay these international troika banksters back but im not sure about that.. The people of Iceland told those parasites to take a hike and it wasn't the end of the world, they are doing better now.
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azguard
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June 19, 2015, 09:58:59 AM |
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Also reading article in local papers online that Greece sign for Turkish stream gas pipeline. Russian and Greek finance ministers Alexander Novak and Panagiotis Lafazanis signed a memorandum on the construction of a gas pipeline extensions "Turkish stream". Quote from paper.
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unent
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June 19, 2015, 10:57:51 AM |
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They are holding a meeting to discuss giving the Greek banks money to stop a bank run. I think they did this during the last crisis. They will probably bailout their banks before things get much worse. http://www.theguardian.com/business/2015/jun/19/greek-crisis-ecb-meeting-to-decide-on-emergency-fundingThe European Central Bank is holding an emergency meeting on Friday morning to discuss whether to pump more funds into Greek banks to prevent a full-blown banking crisis.
The meeting, starting at noon (11am UK time) via conference call, comes after the acrimonious breakdown of talks between finance ministers in Luxembourg on Thursday night raised the prospect of Greece’s exit from the eurozone.
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gotmilk_
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June 19, 2015, 08:00:16 PM |
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It has begun. If that continues many stock markets in Europe and USA can be in red next week. Gold had a good week, which could mean that smart money is already preparing for this.
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Alley
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June 19, 2015, 09:05:34 PM |
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Will money go into bitcoin as Chinese bubble bursts?
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chopstick
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June 19, 2015, 09:08:39 PM |
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FUCK THE BANKS FUCK THE IMF THEY ARE A BUNCH OF EVIL, BLOODSUCKING LEECHES SUCKING THE LIFE OUT OF HUMANITY THEY THREATEN TO DESTROY A COUNTRY'S ECONOMY WITH ONE HAND, WAGE A BLOODY WAR WITH THE OTHER IMF Humiliates Greece, Repeats It Will Keep Funding Ukraine Even If It Defaultshttp://www.zerohedge.com/news/2015-06-19/imf-humiliates-greece-repeats-it-will-keep-funding-ukraine-even-case-defaultOne week ago, we were stunned to learn just how low the political organization that is the mostly US-taxpayer funded IMF has stooped when, a day after its negotiators demonstratively stormed out of the Greek negotiations with "creditors", Hermes' ambassador-at-large Christone Lagarde said that the IMF "could lend to Ukraine even if Ukraine determines it cannot service its debt." In other words, as Greece struggles to avoid a default to the IMF on debt which was incurred just so German banks can remain solvent and dump trillions in non-performing loans to US hedge funds and Greek exposure, and which would result in the collapse in the living standards of an entire nation (only for a few years before an Iceland-recovery takes place, one which Greece would already be enjoying had it defaulted in 2010 as we said it should), and as the "criminal" IMF does everything in its power to subjugate an entire nation, or else let it founder, the IMF told Soros' BFFs over in Kiev, that no matter if they default to its private creditors (in fact please do since Russia is among them), the IMF would keep the debt spigot flowing. Courtesy of the US taxpayer of course. Fast forward one week when, with Greece one step closer to a full-blown financial collapse, the IMF comes out and tell Ukraine - which already passed a law allowing it to impose a debt moratorium at any moment - not to worry, that even in a default it will keep providing unlimited funds. From Reuters: Ukraine's efforts to strike a debt restructuring deal with its creditors will allow the International Monetary Fund to continue to support the country even if the talks are not successful, the head of the IMF said on Friday. "I ... welcome the government's continued efforts to reach a collaborative agreement with all creditors," IMF Managing Director Christine Lagarde said in a statement. "This is important since this means that the Fund will be able to continue to support Ukraine through its Lending-into-Arrears Policy even in the event that a negotiated agreement with creditors in line with the program cannot be reached in a timely manner." We will pass comment on this latest grand IMF hypocrisy and ask if Greece would rather be in Kiev's place which at the behest of "Western" leaders, it sold, liquidated, and otherwise "lost" all of its gold. Or, like Ukraine, Athens is willing to part with its $4 billion in gold just to appease the Troika as it sells all of its 112.5 tons of official gold to unknown buyers. A transaction which would buy Greece about 3-6 months of can kicking and a few stray smiles from Chrstine Lagarde.
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dataispower (OP)
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June 20, 2015, 07:38:11 PM |
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'It's time to hold physical cash,' says one of Britain's most senior fund managers "Ian Spreadbury, who invests more than £4bn of investors’ money across a handful of bond funds for Fidelity, including the flagship Moneybuilder Income fund, is concerned that a “systemic event” could rock markets, possibly similar in magnitude to the financial crisis of 2008, which began in Britain with a run on Northern Rock."
"The best strategy to deal with this, he said, was for investors to spread their money widely into different assets, including gold and silver, as well as cash in savings accounts. But he went further, suggesting it was wise to hold some “physical cash”, an unusual suggestion from a mainstream fund manager."http://www.telegraph.co.uk/finance/personalfinance/investing/11686199/Its-time-to-hold-physical-cash-says-one-of-Britains-most-senior-fund-managers.html
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dataispower (OP)
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June 21, 2015, 11:47:38 AM |
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The future of the euro rests with unfortunate Greeks "Greece owes the International Monetary Fund €1.6bn (£1.1bn) by the end of June. To pay that, the Syriza government must agree to reforms on pensions, VAT and privatization, together with surplus targets, that will release the final €7.2bn slice of cash from an earlier bail-out package. But that requires Syriza to abandon the pledges on which an increasingly febrile Greek electorate put the party in power earlier this year.
So Greece could easily join Zaire, Zimbabwe and other generally war-torn countries that have defaulted on the IMF. Access to international capital markets would then cease as the Fund began its lengthy, bureaucratic default procedures – which may or may not cause a rupture on financial markets."http://www.telegraph.co.uk/finance/comment/11689525/The-future-of-the-euro-rests-with-unfortunate-Greeks.html
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LFC_Bitcoin
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June 21, 2015, 02:29:27 PM |
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Wow that is a ridiculous sum of money for France to lose, incredible scenes. Forgive me for being totally ignorant but I admit I haven't been watching the news & educating myself on the sheer devastation Greece going bankrupt could cause. I shrugged off suggestions that BTC could benefit from capital controls being put into place in Greece. What other countries will suffer huge losses as a result of Greece defaulting & leaving the eurozone? Could BTC really benefit from the mess Greece have got themselves into? I'm not a bad person but I really do hope so to be honest, purely for selfish gains but if capital controls come in Greek people could throw all their savings into BTC, safe away from the Greek governments grasp? Could this have even bigger ramifications, are we looking at the next massive, multi national banking crisis? Any replies are much appreciated.
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gotmilk_
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June 21, 2015, 08:23:48 PM |
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http://www.reuters.com/article/2015/06/21/us-eurozone-greece-banks-exclusive-idUSKBN0P10UP20150621Bank of Greece warned bankers of 'difficult' day if no debt deal.
According to sources in Frankfurt and Brussels, pre-orders for deposit withdrawals for Monday have already reached 1 billion euros. Customers who want to withdraw large sums from their accounts usually have to file pre-orders to ensure that banks have enough cash on hand to meet their request.1bil€ only in pre orders... God knows how much they will withdraw from ATMs ![Roll Eyes](https://bitcointalk.org/Smileys/default/rolleyes.gif)
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azguard
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June 22, 2015, 08:58:56 AM |
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Could BTC really benefit from the mess Greece have got themselves into? I'm not a bad person but I really do hope so to be honest, purely for selfish gains but if capital controls come in Greek people could throw all their savings into BTC, safe away from the Greek governments grasp? something similar happened with Cyprus crisis last time.
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MF Doom
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June 22, 2015, 02:44:19 PM |
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Could BTC really benefit from the mess Greece have got themselves into? I'm not a bad person but I really do hope so to be honest, purely for selfish gains but if capital controls come in Greek people could throw all their savings into BTC, safe away from the Greek governments grasp? something similar happened with Cyprus crisis last time. yes it COULD, but it may be only a small chance that it would benefit. I think others were correct when they said other currencies (such as USD) will benefit more. Although, it may only be a matter of time til people dont want anything to do with the USD either...
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Cluster2k
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June 22, 2015, 03:30:08 PM |
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Reports coming in of tentative agreement to unlock more aid money (basically more debt) onto Greece. The can has been kicked down the road for maybe a month or two. Will the average Greek citizen now want to head back to their bank and deposit all the money they've withdrawn from ATMs over the past few weeks?
What happens at the end of summer when Greece returns back to the defacto position: too much spending, too little income, too many fat promises made to too many people, funded by the rest of Europe?
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cellard
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June 22, 2015, 11:33:43 PM |
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Europe chose to protect banks who lent to a gov that had no capability to pay. It stepped in and took on that lender's role and the unrepayable loans. And now they want to make it seem like loans that are impossible to repay can magically stop being what they are. When some say the debt can be paid is simply unrealistic and they are talking magic: the complete re-inventing of an entire economy of a nation and underlying culture, plus 75 years as a struggling debtor with no space for a more borrowing. That's simply not realistic.
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