Greece D-Day....Standby....

Discussion in 'Silver' started by Matthew 26:14, Mar 8, 2012.

  1. Matthew 26:14

    Matthew 26:14 New Member

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    Today is D-Day at 7.00pm ESDT Greek bond holders must have decided what they are going to do. If less that 66% agree to the haircut offered (ie capital loss), Greece will go into default and who knows what will happen. Needless to say in such an event gold and other metals would jump. If more than 66% agree to the haircut then Greece has room to manouvere and the saga will continue and Greece can force its haircut onto the other bond holders. If this happens rating agencies are likely to downgrade Greece debt to junk. However it plays out, tonight is the night it would seem.....

    [​IMG]
     
    Matthew 26:14, Mar 8, 2012
    #1
  2. No1joey

    No1joey Member Silver Stacker

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    Cool! *Dr Evil voice
     
    No1joey, Mar 8, 2012
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  3. Sticks

    Sticks New Member

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    I think they will accept the haircut - not really much choice.
    I think 20th March will be the day to watch - There is a $19 Billion Payment due - Cant see them making that. :(
     
    Sticks, Mar 8, 2012
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  4. Peter

    Peter Well-Known Member

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    Why would they accept a 40% loss on their loans?
    Because if Greece defaults on their loans they might get nothing at all.
     
    Peter, Mar 8, 2012
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  5. systematic

    systematic Well-Known Member

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    Plus the "money" they loaned is basically fiction.
     
    systematic, Mar 8, 2012
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  6. Matthew 26:14

    Matthew 26:14 New Member

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    I reckon more than 66% will agree. They are all banksters anyway and would have been leaned on (ie blackmailed) into agreement by the EU, Germany etc. They were probably also given assurances they would be looked after and that their bank's support would not be "forgotten" in the future.
     
    Matthew 26:14, Mar 8, 2012
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  7. Guest

    Guest Guest

    The Greeks need to default with a big F-YOU and boot the money changes out like this guy

    [youtube]http://www.youtube.com/watch?v=eZeYVIWz99I[/youtube]
     
    Guest, Mar 8, 2012
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  8. Lunardragon

    Lunardragon Well-Known Member Silver Stacker

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    Yah i remembered when Lehman bros fell from their legacy, the PM plounged to blackhole.
     
    Lunardragon, Mar 8, 2012
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  9. thatguy

    thatguy Active Member

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    Problem is that if it takes a big enough tumble then you may need the metals the most
     
    thatguy, Mar 8, 2012
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  10. Silverthorn

    Silverthorn Well-Known Member

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    yep. could get the dominoes falling.
     
    Silverthorn, Mar 8, 2012
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  11. Earthjade

    Earthjade Member

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    There is no way in hell they will not agree.
    The can must be kicked and it WILL be kicked.
     
    Earthjade, Mar 8, 2012
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  12. systematic

    systematic Well-Known Member

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    Ahhh ... now i know what Obama meant when he said: Yes we "can" ...
     
    systematic, Mar 9, 2012
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  13. systematic

    systematic Well-Known Member

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    systematic, Mar 9, 2012
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  14. hyperinflation

    hyperinflation New Member Silver Stacker

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    Apparently over 80% of holders have agreed to exchange, meaning the rest can be forced to. Bullish PMs
     
    hyperinflation, Mar 9, 2012
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