Sunday, February 12, 2012

GREECE SAVED!

after the save this pic of celebration was taken in athens
No problem for the Eurozone the Greek leaders voted to save the Euro by taking austerity measures for their citizens. Someone forgot to tell the Greek people that this was necessary to pay for their binge years and broken promises and that their leaders were only looking out for the best interests of their working stiffs.Greek Prime Minister Lucas Papademos won parliamentary approval for austerity measures to secure an international bailout after rioters protesting the measures battled police and set fire to buildings in downtown Athens. Passage of the austerity bill puts the spotlight on a meeting of euro-region finance ministers on Feb. 15 that must decide whether to approve the second aid package. Resolution of the negotiations, which started in July, would help contain the threat that speculators will target debt-saddled nations, including Italy and Portugal.  http://www.bloomberg.com/news/2012-02-12/papademos-wins-sufficient-support-in-parliament-for-greek-austerity-plans.html    Readers of this blog understand that it is necessary to sometimes accept the punishment for your sins and the sins of others if it makes the bankers survive and thrive. As brought to this blogs attention several times in the past ....There can be no economic recovery without the mega-banks and the crony capitalism that made us all great. Of course Greece is burning now and NO ONE knows the eventual outcome!


Having taken my red pills tonight do help in posting this salute to austerity and our banks. Just one slight problem. Paraphrasing a recent Soro's interview line...."So what the hell is next?......because this ain't gonna do nothin' but kick the freakin' can down the road." I believe I penned his quote with some literary license but   I do apologize to him. Of course my usual response must be made before I move on. The road is clear and it is going to be monetization and buying time. Eventually there will be a deflationary massacre...most likely next year if we see nasty stagflation followed by a period of currency devaluation lasting years....eventually removing the bulk of debt through a process of selective currency devaluation. To get through this period without national revolts will most likely produce a massive global war......Greece's violence in the last 12 hours has been massive. It will be interesting to see how they stifle it.




4 comments:

  1. Thanks for the nice charts...waiting, waiting.

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  2. yup.....no reason to make a move today....next few days will tell

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  3. Maybe stupid question, but have read gold/platinum can be made from cold fusion? Is this true and will it devalue gold substantially if true. Diamonds not devalued by zircona, LOL.

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  4. Kli,

    Thanks for posting.
    I will be frequently be out of town this week with family related issues.
    I will be able to participate again next week.

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