Can anyone offer an explanation on why there is no 'RUN' on the Greek Bank(s)? If I was a Greek citizen and - Possibly about to default (15Bn bill to pay today the 15/05/2012) - Possibly depart from the Euro - No government anytime soon - Greek Stocks plummeting - Greek Banks on brink ...why WOULDN'T you withdraw your Euro(s) and place them outside (i.e. safer)? I just cannot understand. Any ideas?
Everyone appears to have already done so who can do. There is also the boil a frog situation. Even when the worst is about to happen some people will not see the truth.
The rich people probably took their money out a long time ago, if they ever had any in the Greek banks. The rest are probably in debt so there is nothing to take out. Since 2008 there has been talk of greeks moving money to Cyprus or buying Gold Sovereigns at grossly inflated prices. They already suffered through invasion during the World Wars and hyperinflation, I am sure they have the procedure down to a fine art.
There is no money left in the Greek banks. That is why they are bankrupt. The people have been taking all their assets and getting them out of Greece for years now. Saw an article a while ago where they were loading up Greek priests with gold and cash and getting them to take it out of Greece. Also a lot of people there put their money in Gold so they can hold their wealth more securely. That is why Greece is known as "a poor country full of rich people." That is Greekonomics 101.
They (the Greek banks) have lost 30% of their total deposits since 2009, if Greece leaves the Euro expect that number to go alot higher and then bank holidays etc
+1 Spot-on J - I've seen it with my own eyes... carrier bags full of Euros to buy gold coins & bars...
yes .45bn and not 15bn. Looks like they paid it but not sure with who's money. This from Zerohedge: http://www.zerohedge.com/news/its-official-greece-pay-may-15-bond-maturity
digging around, looks like they paid it with the last they had: http://www.zerohedge.com/news/greece-virtually-out-cash-one-day-critical-bond-maturity thank goodness for Zerohedge! why are they the only ones reporting this stuff?
http://www.bloomberg.com/news/2012-...some-banks-as-draghi-talks-exit-correct-.html ECB stops lending to Greek banks (some). If this isn't a cue for a run on the banks in Greece I don't know what is!! (and when I mean run, I mean the whole population cueing up to get their savings out before it all goes tits up and they are withheld!)
http://www.zerohedge.com/news/nationalized-spanish-bank-plummets-news-bank-run Nationalized Spanish Bank Plummets On News Of Bank Run Scary, must buy some more silver to sooth the jangled nerves
Greek Bank Run Update: Up To $1 Billion A Day Now http://www.zerohedge.com/news/greek-bank-run-update-1-billion-day-now FRB is a biatch! Did someone say exponential... or was that unsustainable. Pass the popcorn pls
Seems to me that if the Greeks don't vote the way the rich capitalist bankers want them to,they will destroy them as an example to other countries. They can't allow them to succeed if they go it alone.
Looks like we're in for an interesting week next week as the Greek vote comes in. If the non bailout party(s) win all hell will break loose and the bank run will rocket(?) If the bailout party(s) win, the can has been kicked further down the road. If hung again, all hell will break loose and the bank run will rocket(?)
