Jun 24

Greek Delegation Leaves EU Commission: No Agreement Today (ZeroHedge, June 24, 2015):

So much for a Greek deal getting “done” today, as the market had priced in for the nth countless time on Monday. Here is what happened moments ago according to Bloomberg and Reuters:

  • GREEK DELEGATION LEAVES EU COMMISSION
  • SCHAEUBLE SEES INSUFFICIENT PROGRESS FOR GREECE DEAL TODAY
  • SCHAEUBLE SAYS HE DOESN’T HAVE MUCH NEW TO SAY ON GREECE

And so on, until the next round of buying ahead of the next rumor, until the next denial launches stocks even higher, ahead of more hopes of an imminent deal launches even more buying program, until the next round of rumors leds to new all time highs and so on, and so on…

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2 Responses to “Greek Delegation Leaves EU Commission: No Agreement Today”

  1. Squodgy Says:

    http://beforeitsnews.com/economy/2015/06/max-keiser-the-greatest-economic-collapses-in-history-is-coming-2738382.html

  2. Marilyn Gjerdrum Says:

    Surprise, surprise…..reason is simple: If they allow Greece to collapse, or leave the Euro, too much debt & bankruptcy will be exposed endangering the four major (& over indeted) Euro nations holding majority of Greek debt. Biggest is Germany followed by France, Italy and Spain. If they crumble, so goes the entire Euro. Both Italy and Spain nearly collapsed less than two years ago…….Those four nations are the strongest in the Euro?

    This website I’ve posted below shows true debt statistics of many world economies. It is a clean and safe site to access, one I use often in my research.
    http://www.usdebtclock.org

    Once accessing the site; click on ‘World’; it will show the depth of debt of many Euro nations, US, Japan, Canada and many world countries: Public and External debt……study them carefully; debt to GDP are ALL triple digit in many of the western economies. Once a nation hits debt of 100%+ to GDP, it indicates every cent that comes in is already owed elsewhere……There is no fresh income to pay down anything, let alone build or improve. THESE NATIONS ARE BROKE, all living on borrowed money.

    Next, look at debt levels of Brazil, India, Mexico, Russia, Saudi Arabia, South Korea and China! All of these countries are GROWING, with real income of anywhere from 92%-40% of GDP…..highest debt to GDP is less than 60%.

    Most Americans and Europeans are convinced Russia is doing terribly, Mexico is a poor nation, ETC, thanks to US propaganda media…….The US is one doing terribly. What comes in goes to a very low percentage of the economy; characteristic of a third world country.

    Nations in the Euro treat their workers better when they get to work, but unemployment is growing in their economies steadily, just like the US.

    Spain, one of the big Greek debt holders, has an unemployment rate of over 40%, while 50% of working age people under 25 are unable to find work……Go back to the article posted here a day or two ago on Spain: It was in the UK Guardian, and asks about Spain’s economy……..The statistics are worth reading and remembering…..It is there the statistics of the four nations carrying Greece’s debt are broken down; they are shocking with their resemblance to the US…….

    Napolen Bonaparte’s idea of a Continental System (which the Euro clowns stole to gain quick access to big buying & borrowing power to compete with China) had the concept of a united currency, but it was backed with gold using a united government under Him………not a bunch of separate economies and governments.

    There is nothing behind any of these separate economies and governments but the word of corrupt leaders. Worse, nothing behind the united currency but the word of bankers! That is even more deadly (if possible) than those of greedy government officials.

    None of these governments (or the Euro) have gold behind their word. If they did, they would never have joined the Euro …..The Swiss had the sense to stay out…………..That ought to have warned credible money people to back off right then! But, who said international bankers were credible?

    They are doing all they can to ward off the inevitable…………..called Economic Truth. I have been watching these clowns over the last decade++ . Here in America, and in Europe, they started growing money quickly by “leveraging” funds. This was openly discussed and printed in mainstream US media until recently. First, they leveraged funds 1000:1…. a ratio of 1000 dollars for every dollar. When that ran out about 3+ years ago, they started leveraging the leveraged funds! 1000:1 on every borrowed leveraged dollar: Let the math wizards do the percentages on those numbers……..Borrowed funds are now in the Quadrillions!!…….

    In the Crash of 1929, a person could go into a brokerage account and buy $190.00 worth of stock for every $100.00 they deposited….It could be borrowed, but it had to be cash, and US cash was backed with gold. At this ratio, the borrowing ratio was about 9:1……and I am old enough to clearly remember and hear those who lived through the era during and after the Crash……It was deadly for a huge percentage of Americans, especially workers; and any who had a skill that could be postponed until better times.

    However, regardless of the Crash, we were and remained the largest lending nation in the world. As we emerged during the 1930s, we remained and continued to be the largest MFG country in modern history. We never outsourced our technology, inventions or our labor. Today, we have been gutted of all three.

    Today, we are the largest borrowing nation in the world, outsourcing millions of jobs, our technology and inventions. Reason: All creative power has been ceded to international corporations & they get to choose where they build and what they can charge.

    People who think our cost of living go along with the government statistics need to look at the cost of housing, energy, food, medical care, vehicles, education……….As one who has lived a long time, I can assert through personal experience; our cost of living has gone through the roof!

    Thanks to the trade bill that miserable bastard in the White House, with a great deal of help from Ms. clinton while secretary of state, it is going to get much worse for all working people.

    I don’t often speak of US media people with respect, but I have to hand it to Mr. Ed Schultz….I first grew to like him as a Midwest radio personality during the dreadful bush years. He got behind obama, and brought millions with him because he believed him. On Monday, he said he doesn’t recognize obama any more…….Obama had campaigned against everything he has forced through congress with this bill……..He did a lot of other rotten things as president Schultz spoke against as well at the time….the only US TV & radio personality besides Rachel Maddow to do so………The silence of the rest of them is terrifying to those of us who took their education in history & have studied the art and science of propaganda.
    “In order for evil to flourish, it is only necessary for good men to do nothing.” Edmund Burke

    History isn’t taught much these days…….The days before 1650 are now outlined in a few sessions in the public high schools……..Absolutely terrifying to those who understand people who don’t know their history are doomed to repeat it.

    “The only thing new in this world is the history you don’t know.”
    Harry Truman

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