Greek savers rush for gold

 

 

"This Is Not A Program to Salvage the [Greek] Economy, It's a Program for Pillage Before Bankruptcy"   

Posted by: George Washington

Post date: 06/21/2011 - 19:21

And it's NOT just Greece ...

Things That Make You Go Hmmm.... Such As The 10 Steps To Realizing You, Or Your Country, Is A Debt Addict 

A blast from the "the more things change, the more they stay the same" past courtesy of Grant Williams: "Back in the dog days of October 2008, The Consumerist published a piece on its website called ‘12 Signs You’re Addicted to Debt’. This public-spirited piece was designed to help people recognize an addiction to debt that might topple them over the edge of the abyss in the new, post-Lehman world of fear and desperation. You remember that world, right? Lehman had just collapsed? The world was about to spiral into a nightmare the likes of which hadn’t been seen in a generation? You remember, surely? The ‘GFC’? The ‘Great Recession’? No? But we all said it was a watershed that would change our behaviour for decades to come. We all swore never to forget how close we came; how terrified we all were.... In the interests of brevity, I’ve cut the original twelve signs down to ten, but that should be plenty to ascertain whether the world is addicted to debt (though it may make this introduction may be a little longer than usual). Let’s get started, shall we?..."

As G-Pap Survives Another Day, Here Are The Next Steps: SocGen's Take 

Submitted by Tyler Durden on 06/21/2011 19:00 -0400

Following a rather anticlimatic day in which Greece did precisely as the conventional wisdom expected it to, leading to a modest sell the news drop in the EURUSD (down to 1.4370 as of this writing), Greece is a long way from being out of the woods. Summarizing the immediate next steps is SocGen's Vladimir Pilonca: "George Papandreou’s PASOK government survived the confidence vote on Tuesday night. As expected, Papandreou obtained a relatively narrow majority, with 155 votes to 143 in the 300 seat Parliament (and two abstentions). The focus now shifts to next Tuesday’s Parliamentary vote of the Medium-Term Fiscal Plan (MTFS). The MTFS includes €28bn of additional austerity measures for 2011-2012 as well as an accelerated privatisation plan." 

 

 

 

 

Well worth your time...a great explaination of what is happening , how and why...

Mass Rioting in Greece as Economists Warn of Global "Armageddon Scenarios"

 

 

 

The Collapse of Nations All By The Hand Of Corrupt Bankers.

Debt Crisis May Overwhelm Euro Zone Says IMF.



Stock Collapse and $12,000 Gold?






Risk of U.S. credit rating downgrade increased: S&P



You might not have noticed that the US Dollar Index has been falling recently.



System-wide Meltdown as US to Enter Hyperinflation

Elijah Cummings Asks Darrell Issa Why It Is Taking So Long To Subpoena The Big Banks On Fraudclosure 

Submitted by Tyler Durden on 06/21/2011 23:31 -0400

Describing new evidence of illegal foreclosures, inflated fees, and other widespread abuses, Ranking Member Elijah E. Cummings wrote to Chairman Darrell Issa today to request that the Committee issue subpoenas to require mortgage servicing companies to produce previously-requested documents. “You have not hesitated—in other investigations—to issue subpoenas in a matter of days when your deadlines were missed, so it is unclear why a different standard applies to this investigation,” Cummings wrote.  “This same sense of urgency should apply even when the targets of the Committee’s investigation are banks.” On February 10, 2011, the Committee voted unanimously to investigate “the foreclosure crisis including wrongful foreclosures and other abuses by mortgage servicing companies.” “If mortgage servicing companies are allowed to disregard requests for documents that are integral to this investigation, the Committee’s integrity will be called into question and, more importantly, abuses may continue,” Cummings wrote. Today’s letter from Cummings marks the fourth in a series of letters he has sent to Issa over the past six months urging the Committee to take action on wrongful foreclosures and other egregious abuses by mortgage servicing companies. On May 24, Cummings sent a letter to Issa requesting that the Committee issue subpoenas to six mortgage servicing companies that have refused to provide documents relating to foreclosure abuses. “The best long-term solution that our Committee can offer in response to illegal acts committed by mortgage servicing companies is vigorous investigation, oversight, and reform,” Cummings added.  “Inaction will tacitly reward abuse and signal tolerance for major corporate wrongdoing.” So... what's wrong with that exactly?

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