(POLL) Be Careful of the Dates - Week #2 - Mon 9/19 - Sun 9/26/2011 - Does Greece Default???
MsMorrisine
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We have some new info, some good and some not good.
Merkel and Sarkozy pledge to keep Greece afloat.
on the other hand, The next round of $8bil Euro bail out money from Bailout #1 will be delayed. Also, Greece isn't cutting gov't jobs nearly as fas as promised and because of the economy Greece "welfare" payments spiked. So, in the Greek economy, if they cut government jobs and reduce unemployment payments, where are those unemployed gov't workers going to go? Who knows. That's all part of the fun(?).
We are still in week #1 until Sunday, but I wanted to start this a little early. It's an easier call on Sunday night, than Friday night.
Let's hope the Greek rioters don't trash any more government property!
Merkel and Sarkozy pledge to keep Greece afloat.
on the other hand, The next round of $8bil Euro bail out money from Bailout #1 will be delayed. Also, Greece isn't cutting gov't jobs nearly as fas as promised and because of the economy Greece "welfare" payments spiked. So, in the Greek economy, if they cut government jobs and reduce unemployment payments, where are those unemployed gov't workers going to go? Who knows. That's all part of the fun(?).
We are still in week #1 until Sunday, but I wanted to start this a little early. It's an easier call on Sunday night, than Friday night.
Let's hope the Greek rioters don't trash any more government property!
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Comments
At least for now, they continue to throw the money at them.
No Default.
I just hope that Finland gets their collateral.
gold backed off on a glimmer of hope that greece wouldn't.
greece is afftecting gold.
<< <i>a greek default could send gold skyrocketing. >>
Not likely...small potatoes. Now if Italy defaults, different story.
No default.
The fact that nothing is solved will only add fuel to gold's run.
If ya hadn't noticed, everything financial is smoke & mirrors these days.
It won't last. The only real uncertainty is what happens after that.
I knew it would happen.
<< <i>The way I understand it, we send them dollars for 3 months and they send us euros for 3 months.
No default.
The fact that nothing is solved will only add fuel to gold's run.
If ya hadn't noticed, everything financial is smoke & mirrors these days.
It won't last. The only real uncertainty is what happens after that. >>
Spot on!
My answer: Greece defaulting today, tomorrow or the next day, or next week, wouldn't surprise a single person that trades real money. Given that, the possible event becomes a potential non-event. So Greece goes belly up, does gold move up or down? Does the dollar move up or down? How about the 800-pound gorilla, bonds? Why would any market move much more than for an hour or two on the news, if no one would be surprised by the news? Possibly because of some details in the story, or the possibility of unforeseen side effects, but those are other discussions.
For those that are so sure of their answers, let me give you another riddle: Event #2: S&P downgrades U.S. debt rating, do Treasury bonds move up or down or sideways? Those paying attention know the Catch-22, event #2 already happened and U.S. Treasury bonds moved much, much higher.
Someone, somewhere probably isn't too impressed with the fact that these loans consist of phantom money in both directions. My guess is that that "someone" is China, who has now said that they are going to "liquidate" at least some of their Treasuries if they can do it "safely".
I wonder if the Fed will simply PRINT those dollars used to buy back those Treasuries, or if Congress will implement some TAXES on us in order to pay it off. And at the same time, China will turn right around and SPEND those dollars to buy up foreign assets, including interests in US companies.
Linked to article link from Sinclair's website:
China to "liquidate" US Treasuries, not dollars.
It looks like China has learned the rules of capitalism now, and is playing the game better than the West. We just can't get past our own addiction to making money by printing it and then leveraging up. We're going to be screwed if we don't start getting it right. Wall Street, Congress, the President, and the media have not been doing us any favors, at all.
I knew it would happen.
most certainly set up and take advantage of. They can shift/scare the SM one way or the other and profit in each direction as they bamboozle the Sheeple out of their positions.
Pretty much how the markets have been trading for weeks. JPM, GS and Co. : Never let a good opportunity to fleece the markets go unused. This is setting up to be another
great opportunity for our patriotic banks.
roadrunner
<< <i>Ask yourself this: would the event surprise anyone? (also applies to any other possible news story)
My answer: Greece defaulting today, tomorrow or the next day, or next week, wouldn't surprise a single person that trades real money. Given that, the possible event becomes a potential non-event. So Greece goes belly up, does gold move up or down? Does the dollar move up or down? How about the 800-pound gorilla, bonds? Why would any market move much more than for an hour or two on the news, if no one would be surprised by the news? Possibly because of some details in the story, or the possibility of unforeseen side effects, but those are other discussions.
For those that are so sure of their answers, let me give you another riddle: Event #2: S&P downgrades U.S. debt rating, do Treasury bonds move up or down or sideways? Those paying attention know the Catch-22, event #2 already happened and U.S. Treasury bonds moved much, much higher. >>
people are calm on the greek situation right now.
it would surprise people and the negative after effects of a default aren't fully known.
I think there would be more than a slight shock to the global markets.
<< <i>
<< <i>a greek default could send gold skyrocketing. >>
Not likely...small potatoes. Now if Italy defaults, different story. >>
Greece defaulting could make it easier for Italy to go down that path.
<< <i>a greek default could send gold skyrocketing.
gold backed off on a glimmer of hope that greece wouldn't.
greece is afftecting gold. >>
The markets have known Greece will default many months ago. It is possible the price of PMs already reflects this event. Thats why they "coined"
Knowledge is the enemy of fear