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Greek drama

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The Island Retreat
(@the-island-retreat)
Reputable Member
Joined: 11 years ago
Posts: 290
Topic starter  

Anyone else watching the Greek soap opera unfold while munching popcorn like me?

They have until the 28th to figure out how to pay their bills while turning down further ECB help.

Thoughts?

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The Island Retreat
(@the-island-retreat)
Reputable Member
Joined: 11 years ago
Posts: 290
Topic starter  

June 5 looks to be the day they might go insolvent, barring another loan from the IMF to pay off the IMF:)

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(@angeebiggles)
New Member
Joined: 9 years ago
Posts: 4
 

They are over and out. No money to pay back what they supposedly owe. ithink they should and will default on the debt. This will start the flood of crashing mrkets worldwide in all global western countries. Hold onto your hat its going to be a wold ride.


   
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The Island Retreat
(@the-island-retreat)
Reputable Member
Joined: 11 years ago
Posts: 290
Topic starter  

Amazing how they can kick this further down the road.

It's only making the problem bigger later!

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One is none, two is one.


   
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The Island Retreat
(@the-island-retreat)
Reputable Member
Joined: 11 years ago
Posts: 290
Topic starter  

Well,

Bank holiday announced; capital controls in effect....

Max 60 euro withdrawal. Welcome to the future of any fiat currency.

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(@helicopilot)
Member Moderator
Joined: 11 years ago
Posts: 1487
 

This obviously has ripple effects in North America, wiping away all gains made by major markets since the beginning of he year. Yikes. The bank closures, withdrawal limits are pretty scary!


   
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The Island Retreat
(@the-island-retreat)
Reputable Member
Joined: 11 years ago
Posts: 290
Topic starter  

Welcome to the global future.

Funny though, how they didn't even have enough cash to be able to afford to hold a referendum. On whether to a fort a funding deal that expired on the 30th of June. So they're voting on cash that was no longer theirs regardless.

Now what? All Greek banks are officially insolvent. If you think that won't ripple to here, you need to dig down more on the glorious world of interconnected global fractional reserve banking.

Other than Helico pilot and myself, is no one else following this?

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dollyndrew
(@dollyndrew)
Estimable Member
Joined: 12 years ago
Posts: 246
 

Following avidly... Just don't have anything intelligent to add... Except it frightens the hell out of me. Are you following China too? There's another world of hurt..


   
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The Island Retreat
(@the-island-retreat)
Reputable Member
Joined: 11 years ago
Posts: 290
Topic starter  

Not really;

They just threaten to arrest anyone who short sells:). Crash averted, lol! Seriously though, a 30% loss of the entire market in a month is huge, yet barely warrants a mention in the media here. I guess the Kardashians are still too interesting to care... Bread and circuses is still a valid concept.

Hope all is well with you guys up north! My bees are doing ok; steep learning curve.

Take care,

Jonesy

Check out Canadian Prepper Podcast on iTunes!

One is none, two is one.


   
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