Here here!
I remember a few years ago when US banks were afraid of a bank run and a few of them didn't open and put restrictions on withdrawls.
We immediately removed all excess cash, leaving only a small operating fund for paying bills etc.
To this day, this is how we operate...only operating funds are kept in the bank...the rest is......"diversified"

You have a country which borrowed to keep the good times rolling, over 1/3 of the population worked in the public sector, government had punishing taxes so there was a huge under market in which no one paid taxes.....the writing was on the walls. The debt to GDP is actually detrimental to growing there economy.... What I dont understand is they got themselves into this mess, and now they wont face reality and make difficult cut backs to get out of it...they simply want to "cut and run." And if they cut and run they will have NO credit period....which will actually make things even worse for the country....

Difficult days for Greece.

http://www.mail.com/int/business/markets/3655554-greece-appears-to-cave-to-demands-europe-skeptical.html#.1258-stage-hero1-4

You have a country which borrowed to keep the good times rolling, over 1/3 of the population worked in the public sector, government had punishing taxes so there was a huge under market in which no one paid taxes.....the writing was on the walls. The debt to GDP is actually detrimental to growing there economy.... What I dont understand is they got themselves into this mess, and now they wont face reality and make difficult cut backs to get out of it...they simply want to "cut and run." And if they cut and run they will have NO credit period....which will actually make things even worse for the country....

Difficult days for Greece.

http://www.mail.com/int/business/markets/3655554-greece-appears-to-cave-to-demands-europe-skeptical.html#.1258-stage-hero1-4

Agreed...my prediction is that they will be asked to leave the Eurozone and have to start up their own currency again. Sadly, without a change in government I don't see any currency working. Difficult days ahead indeed.

Disagreed 😮 😆 . I say, F$$$ the bankers. Usury and all that swindle. They digitally printed that money out of thin air, anyhoo. Make the bankers responsible for making a bad lone. Greece had been set up with an unpayible debt where servicing the loan was all consuming and the banksters wanted to confiscate through slight of hand, every public resource while enslaving the people into perpetual debt slavery. No amount of "Fiscal responsibility" would have ever saved them. Its closing the barn door after Pigs have escaped. If I was the king of the universe, I would not "skulk off". I'ld be issuing arrest warrants with IMF and a few other unaccountable others, on it. Or at least, handing out torches and pitchforks to the population.

Greece will have a hard time but in the end, they will probably do better and recover faster by being the first out of bondage. We don't need a bank holiday. We need a debt holiday. Just my 2cents

Disagreed 😮 😆 . I say, F$$$ the bankers. Usury and all that swindle. They digitally printed that money out of thin air, anyhoo. Make the bankers responsible for making a bad lone. Greece had been set up with an unpayible debt where servicing the loan was all consuming and the banksters wanted to confiscate through slight of hand, every public resource while enslaving the people into perpetual debt slavery. No amount of "Fiscal responsibility" would have ever saved them. Its closing the barn door after Pigs have escaped. If I was the king of the universe, I would not "skulk off". I'ld be issuing arrest warrants with IMF and a few other unaccountable others, on it. Or at least, handing out torches and pitchforks to the population.

Greece will have a hard time but in the end, they will probably do better and recover faster by being the first out of bondage. We don't need a bank holiday. We need a debt holiday. Just my 2cents

Right you are. Greece will be far better off in the long run by leaving the Eurozone and bringing back the drachma currency. As an example, just look at Iceland. The jailed the bankers rather than bail them out. And now Iceland is growing and doing better and better. I hope that Greece does something similar.

Disagreed 😮 😆 . I say, F$$$ the bankers. Usury and all that swindle. They digitally printed that money out of thin air, anyhoo. Make the bankers responsible for making a bad lone. Greece had been set up with an unpayible debt where servicing the loan was all consuming and the banksters wanted to confiscate through slight of hand, every public resource while enslaving the people into perpetual debt slavery. No amount of "Fiscal responsibility" would have ever saved them. Its closing the barn door after Pigs have escaped. If I was the king of the universe, I would not "skulk off". I'ld be issuing arrest warrants with IMF and a few other unaccountable others, on it. Or at least, handing out torches and pitchforks to the population.

Greece will have a hard time but in the end, they will probably do better and recover faster by being the first out of bondage. We don't need a bank holiday. We need a debt holiday. Just my 2cents

Not sure I follow the logic. Can you explain how Bankers are responsible?

The way I see it, two parties (for simplicity sake) enter into an agreement. One borrows from the other and agrees to pay it back to mutually agreed terms. The party that is borrowing borrows to much and cant pay it back without making major lifestyle changes if at all. The borrower then decides to default and walk away.

Aside from the lender who should have been more careful lending to a customer overstretched....how does the liability not fall...at least partially on the borrower? How is it the bankers fault? And which banker are you talking about?

Im going to be a bit short on time for a while but here is Zero Hedge on the issue
http://www.zerohedge.com/news/2015-07-01/leaked-troika-documents-show-greece-needs-huge-debt-relief

speaking of ZH, Im glad he voiced this just to know it wasn't just me thinking it,
http://www.zerohedge.com/news/2015-06-29/mood-ground-greece-some-have-raised-prospect-civil-war

I'm glad someone brought up The Subprime Mortgage collapse. It was criminal negligence and fraud from the start. I don't blame the borrowers. Iceland was the only country that handled it right. Jail the Banksters, Nationalise the banks till the disaster was stabilised then sell them off to get them out of government hands. Now they are back on top while other countries are failing around them. For this, the ECB tried to have Iceland labelled a TERORIST NATION with all the applied sanctions.

I've been watching the IMF destroy nation after nation after nation. On your watching list, I recommend tracking down "Life and Debt" which someone pointed out for me when I was trying to figure out what happened in the Jamaican collapse.

Ah, spank and domination...Debtnation? (Im still going with the hell and damnation theme)

I had to sign back in when I saw this. "Greek problem is not $3 billion, its $3 TRILLION IN DERIVATIVES– Will ISDA Allow Default?"

I had to stop my work and check back in. Here is a shortcut to a shortened version of Life and Debt. WATCH IT AND CONSIDER IT PREPPER TRAINING. Ya. I know its gouache using all caps.

https://www.youtube.com/watch?v=8WyIUIJjFmg

As they said, If you are a tourist you will fly into Montego Bay and not Kingston. Through a weird twist if fate, I was shuttled around in Kinston like a white debutant, with community leaders escorting me through the gangland of Trench Town, providing security and escorts, not realising I was actually white trash. I can never repay these mother Teresa types except to never forget what I learned and point it out to those that actually Get It.

Though I have memory problems at this point, I was surprised that One of my most influencial memories comes from being abandoned at pre kindergarten buy my parents. One of the treats they provided was watching Gilligan's Island. Whoed of thunk. I remember an episode where they were acting out Shakespeare. The Skipper was singing to Gilligan..."Never a Lender, nor a borrower be. Never forget Both are in debt...." Its one of the most important moments of my life.

But don't let childhood reasoning confuse you. The new "lenders" have no real "Skin In The Game". They are just using fake financing to empire build. This is about control.

Since I didn't want to trust my pre kinder memory, I decided to fact check. Turns out it wasn't Gilligan. It was Mary Ann...In Drag. lol

https://www.youtube.com/watch?v=bXId5jOTxdg

Well its looking like the vote is going NO by a wide margin...He does have a mandate to act....will he use it?....interesting times, I sure hope none of the bankers (goldman sachs) that helped fudge the numbers to get Greece into the EU in the first place, would have to return their bonuses, and fees....who am I kidding ofcourse not 😀

http://www.truthdig.com/report/item/its_greek_to_goldman_sachs_20100217
no mater what happens, the sun will still rise and set, the andromida galaxy is still heading right towards us!! and its unlikely our pets will ever understand string therory

More important that Greece is you! Don't get distracted.

The best thing I read recently is a comment to a video which said, "Americans need to think of options that the Greeks no longer have". Meaning, use all your options while you still have them.

Put money in different places (cash, silver, TFSA, investments), lower your dept as fast as you can, buy under your means ( I buy about 75% of non-food items on the used market).

You can't save Canada but you can be smarter and better off than the next guy even if he makes more money than you.

Yes, I do recommend increasing your physical holding of cash at the moment. There is also the Bond Market and the Chinese Stock Market to be watchful of at the moment.

There are lessons here to be learned. Rome...er...Greece didn't fall in a day. There are no Zombies of MIBs

No cash= No food, gas and eventually no rent or mortgage coverage.
Long before that point= No jobs. Oh, people still have jobs...just not you. This will be a psychological kick in the nuts.
There is a division between the old and the young. In our case, the retiring Boomers will want the status quo so they can collect their pensions and sell there assets...while the low or unemployed young will be saying " We are not paying your depts. Hit the Reset button"

Canada is colder than Greece. Have a wood stove and a chainsaw as your most important long term prep.

Now no matter what happens Greece will be blamed for any financial problems rippling through our magical financial system....problems were already aplenty..some stated already.. container freight has been heading to the basement. Last year Shanghigh to Rotterdam 800-1000 for 20 foot containers....start of June 399, a week later 246.00, another week and 205.00 (spot price June 19th) I don't think 399 would even cover fuel costs....over supply of ships....but really who is spending money ( or borrowing to spend), and I cant image that there is anyone anywhere who does not have all the plastic HELLO KITTY crap they could ever need....if no one is buying China's factories must be laying off, Irac's oil production is up, maybe soon Iran will be able to sell into the world markets and ramp up production....going to kick us in the teeth a bit in Alberta if that happens..... may we live in interesting times....

As we proceed with this Odyssey...I think its time for a little Homer...Simpson, that is. https://www.youtube.com/watch?v=2jE7GxnCIlA

Every Greek should have known. The moral of this Greek Tragedy, Beware of Americans (and their vassal states) Bearing Gifts. Budupda. :ugeek:

Too soon? 😆

Speaking of Trojan Horses...Trade Liberalisation is about as liberal as National Socialism was Socialist. Hopefully the IMF doesn't try a Night of the Long Knives.