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

M

Matthew 26:14

New Member
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.....

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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. :(
 
Why would they accept a 40% loss on their loans?
Because if Greece defaults on their loans they might get nothing at all.
 
Peter said:
Why would they accept a 40% loss on their loans?
Because if Greece defaults on their loans they might get nothing at all.
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Plus the "money" they loaned is basically fiction.
 
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.
 
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]
 
Yah i remembered when Lehman bros fell from their legacy, the PM plounged to blackhole.
 
Bullion Baron said:
Matthew 26:14 said:
Needless to say in such an event gold and other metals would jump.
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Not sure I would agree with that, I reckon the metals along with everything else would take a tumble initially.
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Problem is that if it takes a big enough tumble then you may need the metals the most
 
thatguy said:
Bullion Baron said:
Matthew 26:14 said:
Needless to say in such an event gold and other metals would jump.
Click to expand...
Not sure I would agree with that, I reckon the metals along with everything else would take a tumble initially.
Click to expand...
Problem is that if it takes a big enough tumble then you may need the metals the most
Click to expand...

yep. could get the dominoes falling.
 
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