Why no 'RUN' on Greek Banks?

Spanish ten-year yields hit 6.982%, if this rises any further it'll be "Operation Panic"

 

ok, round about now if I was in Athens/Madrid/Lisbon/Dublin, I woud be pulling ALL MY EURO(s) out and buying Gold/Silver and stuffing a bit under the matress.
if there anyone from Greece on this forum? What is happening on the Street(s)?

 

Spanish ten-year yields have gone through 7% - the level that is considered unsustainable!!!

 

Italian 10 year went over 7% in Nov/Dec last year, but came back down soon after.

But yes, not a good sign at all!

 

What about LaGarde?
Saying Greeks need to pay their taxes , she earns $500,000 a year at her cushy IMF job and pays no income tax on that.
Give me a break.
If LaGarde doesn't pay tax then Joe Blow on 20,000 Euros a year shouldn't either.

 

Kyle Bass pointed out that when Italian bond yeilds went from 5% to 6%, it took them from upstanding member of the EU to economic leper !!!

 

Run on banks in Greece now on, as is huge sales of canned foods.

 

Poor buggers!

I saw a video of a late-middle aged IT engineer wandering around the square. Recently made redundant, you just knew it was the last job he would hold, the large pretzel in his hand was all he could afford to buy...and pretty much all he would eat for the day! :/

Really sad stuff.

 

Getting serious . Did a little bank run of my own tonight. A little bit of plastic never hurt anyone

Greeks withdraw cash, stock up on canned goods ahead of cliffhanger vote

http://www.thestar.com/news/world/a...-up-on-canned-goods-ahead-of-cliffhanger-vote

Go long on pasta futures... if there is such a thing

 

They're starting to catch on.....but I think it may be too late for many after today's election result...

http://www.news.com.au/business/gre...-eurozone-crisis/story-e6frfm1i-1226397683962

 

I ask myself same question also... and then after reading ur post i decided to think little about it, after 10 min thinking these r results:
http://en.wikipedia.org/wiki/Deposit_account
IMHO:
1-not all accounts r hold by greek citizens, large number of deposits r companies and local government and institutions, they can not withdraw cash
2-time deposits , some money is locked for some time and can not be withdrawn at wish
3-banks must have some own money to operate , like funding capital so this count too
4-real estate loans, usually u need to deposit some money 20-30% in to the bank until u pay off the credit
5-sallary, pensions, social care... also came like bank deposits , probably just minority of people in Greece receive it like cash, this amount , is cycling every month but probably became lower and lower because cutting the salaries and pensions
Very possible that have much more cases why money cant be withdrawn(court decision, inheritance...)
Suma sumarum all subjects who can withdraw money from the banks have already do it.
In case we face similar situation in our countries, we should not wait that deposits drop under 50% to withdraw it....

 

There's talk of the banks curbing withdrawl limits as well on the populace to stem the tide.

People are literally driving across the border to use ATMs outside of Greece at the moment.

Australians have no idea this is happening either. Been chatting with people and they still believe the Euro is fine and safe... :/

 

http://www.chinadaily.com.cn/world/2012-06/15/content_15503649.htm
Here's the answer

I suspect the Greek bank run could run as long as there is paper, ink, smoke and mirrors available

 

Photos From A "Fixed" Greece
http://www.zerohedge.com/news/photos-fixed-greece

I have a feeling things could god from bad to disastrous quite fast

 

A collection of hungry citizens can definitely turn the country to full scale anarchy very quickly.

That said, I wonder what the street value of silver and gold is over there atm?

I don't think 'spot' will matter too much there atm... do you?

 

The Greeks following the Alpha Strategy will be sleeping relatively easy.


Just sayin'

 

Sleep? What about fending off the zombie horde out to get their hands on the stack?

 

Greece Runs Out Of Money. Again
http://www.zerohedge.com/news/greece-runs-out-money-again

Cough up the gold or the starving starts?

 

Greek Parliament Speaker Hires His Daughter During His Only Day On The Job
http://www.zerohedge.com/news/greek-parliament-speaker-hires-his-daughter-during-his-only-day-job

Lol in the birth place of Democracy, wish I could say Australia was better but after the Union rort I would be comfortable with saying government is another word for corruption