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Topic: If Greece defaults - page 14. (Read 45224 times)

legendary
Activity: 2114
Merit: 1023
Oikos.cash | Decentralized Finance on Tron
June 26, 2015, 03:41:43 PM
There is a consorted effort by the Eurozone Oligarchs to kill what Greece has left of it's agrarian sector and tourist industry ..forget the crapola tax rise for small businesses. Basically they want to get rid of a leftist government and create another slave nation. Tsipras is the only Hero left standing in my books and if the Greek People do not rally and stand by him, well enough said basically. I am not left, right or center but with the righteous..Samaras from the ND party is just trying to stir so much sh*t in Greece at the moment along with the other radical parties and this isn't helping Greece at all. To yield to the EU demands as they stand now would be a bigger suicide than to Grexit.. Basically they want to give us bailout funds to pay the IMF and EU and not have an ounce left to rebuild the Country, on the contrary just create even more poverty and drive down the economy further by killing the above centers..i.e tourism and agriculture..so basically there will be nothing left..

Only 9.9 million slaves will be left, the rest have exited with their billions already in swiss banks..

What Greeks have to get rid of is living beyond their means, corrupt governments and officials and get the unemployed peeps to work in the countryside..this is the main internal problem along with tax evasion by the rich.. Also if they love their country they have to rebuild it by bringing back their money into the country..This is the downside of Greek culture since the 1050's..the brainwashing that came from the U.S has damaged the society badly..
legendary
Activity: 1512
Merit: 1005
June 26, 2015, 03:35:45 PM
Complaints about life-threatening poverty in Greece...

Oh yeah? Poverty means death, prosperity means life. Consume or die.

So why do the socialists want minimum wage, non-eviction of non-paying tenants, non forclosure of people who does not pay the mortgage, income dependent support, progressive taxation, free stuff paid for under threat of force by people not interested in the products, state ownership of production units, violent labour unions, work permits, tariffs, monopolies on condition of force. When every one of those mechanisms destroys prosperity.

legendary
Activity: 1512
Merit: 1005
June 26, 2015, 02:59:25 PM

If Greece defaults then a few days after if the Greek government steps in with Capital controls and bank slowdowns on withdrawals etc


then you may see if ONLY perceived by the worldwide press to sell some of the usual eyeballs to their sites with the usual FUD

well BTC could spike on such..... but I suspect a lot of folk have ALREADY  got out a lot of their stuff in euros and thus this

may not be as big as a surprise as what happened in Cyprus on this kinda issue

once burnt don't ya know

but again if it all goes 'pear shaped' here in the next couple weeks If I was some Greek folk.... talk of BTC would be very
interesting indeed to move some $$$ to say a trusted relative in the USA or some such

but so far with BTC price I see no action so perhaps this potential FUD is already built into the price of current BTC

(the ways of crypto are mysterious to me) Smiley


According to statistics, half the deposits are still there. It is always too late for somebody, those who think the state will not let them down, to the degree of confiscating everyting.

Are you prepared?
legendary
Activity: 1512
Merit: 1005
June 26, 2015, 02:54:31 PM
They managed to drag it out a few days more, with expanded ELA. God luck.

I see the folks in greece know that the government, the banks, the troika have failed them miserably, but they don't know what to do.

Underscore the private property rights.

Default, keep the euro, reduce taxes, sell off everything to people who have money at home or abroad, use the proceeds to pay the government until they can fire all the emloyees.

The euro is for a single country the currency most akin to sound money that realistically exists.

The Culture Department Incorporated, what an esthetic name.

Indeed.  What the Greek tragedy simply shows, is that states are not able to deal with sound money, as they are so used to cheat that they can't deal with right accounting.  With bitcoin it would even be worse.


Sound money brings into light from darkness the scam that is the welfare state.

legendary
Activity: 1386
Merit: 1000
June 26, 2015, 02:39:10 PM
It would be nice imagination.
When only 1% from the greece population of 11 million would start to using bitcoin, then bitcoin would be unstoppable.
The volume would be explode with over 100.000 more users.
legendary
Activity: 1148
Merit: 1014
In Satoshi I Trust
June 26, 2015, 01:34:18 PM
legendary
Activity: 868
Merit: 1006
June 26, 2015, 08:43:04 AM
But Greece already defaulted partially.  How do you call getting half of your debts wavered away ?

Hehe, indeed. It happened before, and it will happen again. Just take a hard look at the numbers -- there is no way in hell that Greece can repay its debts.

Almost NO state ever pays back its debts.  In fact, almost every state debt is just a Ponzi scheme, paying back former loans with even bigger new loans.  The only thing that varies is the ratio of the total amount of debt and the economic activity.  In case of strong economic growth and small deficit, the relative debt to the GDP can decrease.  But very rarely the absolute debt decreases.

Japan too, has no intentions ever to pay back its debt.  But as long as creditors are willing to believe that THEIR loan will be paid back because the state at hand will find a next bigger fool creditor (exactly as in a Ponzi), they will be willing to give out new loans.

What happened to Greece was simply that the belief that the Greek gouvernment would be able to find next bigger fools was gone.

This could in fact happen to any state playing the eternal debt Ponzi scheme.  Of course for a state like Germany with only 65% debt and almost no deficit, there's little chance that they won't find a next bigger fool creditor for the moment, so it is pretty safe to bet on giving them a loan.  For a state like Greece, with more than 150% debt and 12% deficit, that was over the limit of the belief of a next bigger fool.  That's what got them in this mess.

But in fact, Greek debt isn't supposed to be paid back.  Just to be replaced with eternal new loans.  As most state debts in the world.

Until the Ponzi collapses.



This is basically it, spot on analysis. No debt will ever be paid back, this has to be clear. And remember when you hear in talkshows when they invite politicians and journalist saying debts will be paid they are lying to extend the ponzi scam forever.
Any country is prone to not find a greater fool, except (I think) the US. The US are the money makers after all... if they print more dollars, everywhere in the world their dollars will be accepted. Can they extend their ponzi scheme literally forever? we'll see.
copper member
Activity: 2898
Merit: 1464
Clueless!
June 26, 2015, 04:22:03 AM

If Greece defaults then a few days after if the Greek government steps in with Capital controls and bank slowdowns on withdrawals etc


then you may see if ONLY perceived by the worldwide press to sell some of the usual eyeballs to their sites with the usual FUD

well BTC could spike on such..... but I suspect a lot of folk have ALREADY  got out a lot of their stuff in euros and thus this

may not be as big as a surprise as what happened in Cyprus on this kinda issue

once burnt don't ya know

but again if it all goes 'pear shaped' here in the next couple weeks If I was some Greek folk.... talk of BTC would be very
interesting indeed to move some $$$ to say a trusted relative in the USA or some such

but so far with BTC price I see no action so perhaps this potential FUD is already built into the price of current BTC

(the ways of crypto are mysterious to me) Smiley





hero member
Activity: 770
Merit: 629
June 26, 2015, 01:34:43 AM
They managed to drag it out a few days more, with expanded ELA. God luck.

I see the folks in greece know that the government, the banks, the troika have failed them miserably, but they don't know what to do.

Underscore the private property rights.

Default, keep the euro, reduce taxes, sell off everything to people who have money at home or abroad, use the proceeds to pay the government until they can fire all the emloyees.

The euro is for a single country the currency most akin to sound money that realistically exists.

The Culture Department Incorporated, what an esthetic name.

Indeed.  What the Greek tragedy simply shows, is that states are not able to deal with sound money, as they are so used to cheat that they can't deal with right accounting.  With bitcoin it would even be worse.
sr. member
Activity: 1148
Merit: 252
Undeads.com - P2E Runner Game
June 25, 2015, 09:21:58 PM


I totally agree that all those peeps hiding their stash at home are going to be very prone to theft now especially when you see all the news channels and morning breakfast programs showing insider reports on what kind of places they are hiding their cash in..Like tiled draws in the bathroom was one and wooden bits of a bed and chair lol.

Yea, i dont know about home invasions in greece, but if everyone, i mean you say everyone, but if really everyone holds piles of cash at home, then obviously it will increase.

Not to mention burglars and other forms of cheats, i remember my grandma got robbed when a guy came to his house to install new lamps and wires.

They stole all precious decorations while she was sleeping, she was 82 so obviously old people are more prone to this but still, some swindlers pretend to help, when they are just come to steal.

legendary
Activity: 2114
Merit: 1023
Oikos.cash | Decentralized Finance on Tron
June 25, 2015, 12:57:06 AM
Greek banks seem to be imposing unofficial capital controls over deposit withdrawals after having lost €400 million over the weekend. The maximum amount is said to be €3,000 on walk-in withdrawals...

Quote
A commercial banker said about €400m had been withdrawn via ATMs over the weekend, bringing total outflows to €2bn between Friday and Sunday, a number confirmed by a central bank official.

http://www.zerohedge.com/news/2015-06-22/greek-banks-unofficially-limit-walk-withdrawals-%E2%82%AC3000-ft-reports

You said walk-in withdrawals. Which sounds as €3,000 each time you literally "walk-in". What does "walk-in" even mean in this context?

It was not me who first said about walk-in withdrawals, I just repeated in my words what I had read at the link I provided. So, I guess, everyone curious should go and read it. I think "walk-in" here means that you visit a bank in person and (try to) withdraw cash as opposed to wire transfers. In this manner, €3,000 obviously refers to the withdrawal limit per day...

Do you happen to live in Greece or ask just out of idle interest?

I don't but I know a guy who lives there. He reported long queues on banks the other day. People hiding money under beds literally lol. He also said no one knows what the hell BTC is, unfortunately. Let's see what they come up next week to keep stretching the unavoidable.

They should organize loudspeakers , mounted on cars, and tell to the people with loudspeakers, going around the city, about bitcoin.

The only way to literally "wake up" the sheeple Cheesy

Perhaps that money under the bed is not as safe as they thing, there is stil the inflation thief around...

I totally agree that all those peeps hiding their stash at home are going to be very prone to theft now especially when you see all the news channels and morning breakfast programs showing insider reports on what kind of places they are hiding their cash in..Like tiled draws in the bathroom was one and wooden bits of a bed and chair lol.
sr. member
Activity: 1148
Merit: 252
Undeads.com - P2E Runner Game
June 24, 2015, 08:34:11 PM
Greek banks seem to be imposing unofficial capital controls over deposit withdrawals after having lost €400 million over the weekend. The maximum amount is said to be €3,000 on walk-in withdrawals...

Quote
A commercial banker said about €400m had been withdrawn via ATMs over the weekend, bringing total outflows to €2bn between Friday and Sunday, a number confirmed by a central bank official.

http://www.zerohedge.com/news/2015-06-22/greek-banks-unofficially-limit-walk-withdrawals-%E2%82%AC3000-ft-reports

You said walk-in withdrawals. Which sounds as €3,000 each time you literally "walk-in". What does "walk-in" even mean in this context?

It was not me who first said about walk-in withdrawals, I just repeated in my words what I had read at the link I provided. So, I guess, everyone curious should go and read it. I think "walk-in" here means that you visit a bank in person and (try to) withdraw cash as opposed to wire transfers. In this manner, €3,000 obviously refers to the withdrawal limit per day...

Do you happen to live in Greece or ask just out of idle interest?

I don't but I know a guy who lives there. He reported long queues on banks the other day. People hiding money under beds literally lol. He also said no one knows what the hell BTC is, unfortunately. Let's see what they come up next week to keep stretching the unavoidable.

They should organize loudspeakers , mounted on cars, and tell to the people with loudspeakers, going around the city, about bitcoin.

The only way to literally "wake up" the sheeple Cheesy

Perhaps that money under the bed is not as safe as they thing, there is stil the inflation thief around...
legendary
Activity: 1204
Merit: 1028
June 24, 2015, 02:25:14 PM
Greek banks seem to be imposing unofficial capital controls over deposit withdrawals after having lost €400 million over the weekend. The maximum amount is said to be €3,000 on walk-in withdrawals...

Quote
A commercial banker said about €400m had been withdrawn via ATMs over the weekend, bringing total outflows to €2bn between Friday and Sunday, a number confirmed by a central bank official.

http://www.zerohedge.com/news/2015-06-22/greek-banks-unofficially-limit-walk-withdrawals-%E2%82%AC3000-ft-reports

You said walk-in withdrawals. Which sounds as €3,000 each time you literally "walk-in". What does "walk-in" even mean in this context?

It was not me who first said about walk-in withdrawals, I just repeated in my words what I had read at the link I provided. So, I guess, everyone curious should go and read it. I think "walk-in" here means that you visit a bank in person and (try to) withdraw cash as opposed to wire transfers. In this manner, €3,000 obviously refers to the withdrawal limit per day...

Do you happen to live in Greece or ask just out of idle interest?

I don't but I know a guy who lives there. He reported long queues on banks the other day. People hiding money under beds literally lol. He also said no one knows what the hell BTC is, unfortunately. Let's see what they come up next week to keep stretching the unavoidable.
legendary
Activity: 1512
Merit: 1005
June 24, 2015, 01:45:35 PM
Greece will pay back their due later.
never
sr. member
Activity: 381
Merit: 255
June 24, 2015, 09:32:43 AM
Latest:

Tsipras wants to avoid spending cuts

IMF wants spending cuts or debt relief

Merkel wants to avoid debt relief

We are getting further and further apart. Another set of talks are breaking down it seems. 6 days left!
sr. member
Activity: 336
Merit: 250
June 24, 2015, 05:37:33 AM
Greece will pay back their due later.
legendary
Activity: 3486
Merit: 1280
English ⬄ Russian Translation Services
June 24, 2015, 05:00:43 AM
There has to be some sort of limit otherwise the bank is liable to pay me. I think many banks will get sued that way, but yea by the time the trial ends they will all be bankrupt lol.

Theres no such thing as banks getting sued.

Esp, when they already are the system, and the sueing is probably the government but that really does much besides paying a small fine.

Banks have been successfully sued for imposing similar restrictions. For example, the Russian Alfa Bank in July, 2004, when there was a minor crisis on the interbank crediting market and depositors rushed to withdraw their money from banks, encountered problems as hundreds of its depositors queued to try and withdraw their money. The bank decided to collect a 10% penalty for withdrawals not yet due, though, as it was later discovered, the bank had enough liquidity. It had been sued for doing this, and it had to return the collected amounts back to its depositors (with fines)...
sr. member
Activity: 1148
Merit: 252
Undeads.com - P2E Runner Game
June 23, 2015, 09:14:28 PM

Yep i`ll also buy some more bitcoin next month after i get my paycheck. The ground below the banks are shifting, i dont want my money to fall into quicksand with them.

No doubt GREXIT will cause Great Depression II.
hero member
Activity: 826
Merit: 1000
June 23, 2015, 08:10:10 PM
Greek banks seem to be imposing unofficial capital controls over deposit withdrawals after having lost €400 million over the weekend. The maximum amount is said to be €3,000 on walk-in withdrawals...

Quote
A commercial banker said about €400m had been withdrawn via ATMs over the weekend, bringing total outflows to €2bn between Friday and Sunday, a number confirmed by a central bank official.

http://www.zerohedge.com/news/2015-06-22/greek-banks-unofficially-limit-walk-withdrawals-%E2%82%AC3000-ft-reports

3000€ /what?  3000€/day?

I can walk into a bank and witdhraw 3000€ then walk in 10 minutes later and withdraw 3000€ again, did i witdrawed more than the limit, no Cheesy

Yes, you "witdrawed" more than the limit. I think you'd better ask what's the difference between "official" and "unofficial" capital controls...

There has to be some sort of limit otherwise the bank is liable to pay me. I think many banks will get sued that way, but yea by the time the trial ends they will all be bankrupt lol.

Theres no such thing as banks getting sued.

Esp, when they already are the system, and the sueing is probably the government but that really does much besides paying a small fine.
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