They are all blaming the Greek people for the problem ie not paying their taxes etc but isn't it the slack Greek government who let it all happen to blame? and saying that, why should the Greek people be the ones to suffer in all of this? I believe the Greek people will say 'no' to more bailouts, austerity and control by outsiders, that is what I would vote but somehow I am wondering if they will let this thing go that far and let them vote at all. After all this rush to get a decision in place there is now supposed to be another couple of months wait for a referendum? I can't see it - markets are already becoming unstable again.
Bob Chapman : Gold & Silver prices will explode before the Greeks Vote Bob Chapman - The Financial Survival 02 Nov 2011 Bob Chapman : The European leaders at the G8 meeting in Cannes France are questioning why Papandreu have decided to have a referendum , it's pretty obvious why , everybody in the country hates him they probably like Mr Sarkozy better than they like him , incidentally Sarkozy happen to be half Greek , what's going to happen here is that they are going to have the referendum they cannot reverse it now , and why he did that because he is going to be kicked out of office and he do not want to get blamed for all of this so what he is doing here knowing that the Greeks are going to vote against , and so when the Greeks will vote against he Papandreu will be able to blame this problem on the Greek people this is what he is up to here and no matter what happens he is out of office ...this is is on the edge of collapse , they are buying time ....85 percent of the derivatives are custom made , it is just a matter of time before derivatives collapse http://bobchapman.blogspot.com/2011/11/bob-chapman-gold-silver-prices-will.html#.TrHNZ6R8ngQ.pingfm
Good on Iceland. What will happen to Greece if they vote no, I think it will be something similar to what happened to Argentina when they defaulted. Their currency (probably go back to the Drachma) will have massive inflation (if your Greek, buy gold now!). Foreign investment will flee the country (if they haven't already) unemployment will rise even more. This will probably make all the german and french banks who loan them all this money to either fail or be in big trouble. The euro banks have insured greek debt with US banks across the pond with credit default swaps, spreading the pain across there. Massive failures across the board, GFC2 is realized. If you take the Argentine example, they should have defaulted sooner, they would have been on the road to recovery somewhat. Instead they only dug the hole deeper, getting themselves into more and more debt. Argentina was the largest default in history at the time about 93 billion USD, Greece is currently in about 350 billion Euro's....
Where is Greece going to get the money to print and mint a whole economy worth of paper currency and coinage?
But it would be short term pain but better in the long term for the Greeks, as with Iceland. Let the banks all fail I say! It seems inevitable now anyway, they are just prolonging the agony!
Yeah I agree, at least they will have control of their own country (even if bankrupt) instead of being held hostage like they are now. They are selling the country out from the inside, and will soon be renters. Same thing goes for Ireland. Iceland did the best thing, they said its not our public debt and we don't want to lose our sovereignty, refused measure the IMF wanted to impose on them. The rest of the EU cried black and blue and threatened them, but nap, they stuck to their guns and they are better for it now.
UK military steps up plans for Iran attack amid fresh nuclear fears British officials consider contingency options to back up a possible US action as fears mount over Tehran's capability http://www.guardian.co.uk/world/2011/nov/02/uk-military-iran-attack-nuclear
Nothing now. No referendum. http://www.news.com.au/business/gre...ers-on-the-brink/story-e6frfm1i-1226185228641
I was right - they will never allow a referendum - just waiting for a referendum to take place would have caused too much instability in the markets! so much for democracy!
Well if your hoping for the pop like this chap here then its OK [youtube]http://www.youtube.com/watch?v=Q_xRSQggTpk[/youtube] Im sure all you guys have seen this guys original video on BBC. I tend to agree with him, we can complain about the gov's but there is jacksh*t we can do about it, if they wanna keep kicking the can down the road until the can falls of the cliff and they got nothing left but to follow it then we might as well go with the flow. If its gonna pop might as well be a big one and take advantage of it if you can ... work out the odds its gonna pop, if the odds are good enough by your standards place your bets and watch the news and watch the chart ... if your wrong your wrong, lick your wounds find another bet ...
