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Old 01-06-2013, 12:36 AM
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Sierra Dave Sierra Dave is offline
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Default Any news on Greek and Spanish bank runs?



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Last I heard, the money was leaving faster out the front door than going in the back door.

Methinks the news is being suppressed.

Anyone else seen any articles lately on this?



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Old 01-06-2013, 12:56 AM
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nothing in the media....
Old 01-06-2013, 01:35 AM
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If you google "greece economy" and then go to the news tab you can find some but they are not huge news stories it is more of the human interest type. Parents having to hand custody of their kids over to charities etc in hopes of finding food for them. I think part of the issue with the lack of news is that day to day struggles are not news. Every so often it errupts and then there is something "news worthy" but who cares to hear about people quietly starving? It is just human nature, people want to feel safe and it is easy to sell the occasional story of high drama (bank runs) but nobody wants to think of the misery and confusion behind it.

We all want to bash the Greeks. They are bad, its all their fault that this is happening to them, their expectations are too high... etc... etc...etc. but lets be realistic. Yes, they are doing wrong in their economy but how many of you voted for the guy we elected? I sure didn't. Even the Greeks who voted for the people that are screwing things up probably did what a lot of us do and voted for what they saw as the lesser of two evils. They became dependent upon the systems and have no real place to turn. The human interest stories really get you thinking and you can see why they are making the choices they are. Scared, cornered people grasping at straws is not very cheerful and people want to turn their head if those people make them feel afraid they are next. No cover up except the one where people are saying "don't tell me I don't want to know"
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Old 01-06-2013, 04:05 AM
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Excellent story on Greek daily life, from the Wall Street Journal:

http://online.wsj.com/article/SB1000...716211850.html

Basically, Greece is living off the savings of the old people. The country is just about sunk. When that happens, who knows what will happen? Will Athens dwindle to a ghost town as people go where the food is?
Old 01-06-2013, 04:14 AM
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People in Greece are bringing their money BACK to the banks.

Greece banks had 156 billion Euro cash* in November 2012, that is 64 billion Euro more than in October 2012.

source:
http://www.handelsblatt.com/politik/...n/7583564.html (in German)

S&P upgraded the rating of Greece from "selective default" to B- some weeks ago. That's a huge upgrade.

http://www.bbc.co.uk/news/business-20773955

---

*cash seems to be the wrong translation, I do not know the correct English word for "Einlagen".
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Old 01-06-2013, 05:10 AM
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News? Yes the banks are still there just like they were then when everyone was hyping the runs that weren't happening.
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Old 01-06-2013, 08:03 AM
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Cephalotus:

Looks like "einlagen" = "cash deposits"; your meaning came across just fine the way it was.
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Old 01-06-2013, 02:52 PM
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I've been going to www.zerohedge.com for financials. they're pretty good for that.
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Old 01-06-2013, 03:48 PM
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It serves the media and those they support no advantages to enlighten the tunnel visioned sheeple as to failures of the path that we have chosen. The definition of insanity is doing the same thing over and over and expecting different results. IF the people is unaware of the "same thing over and over" part, they will not be suspicious of the result.
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Old 01-06-2013, 04:54 PM
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Quote:
Originally Posted by Survivalguy72 View Post
News? Yes the banks are still there just like they were then when everyone was hyping the runs that weren't happening.
Hey Troll Boy,do you EVER have anything useful or positive to say?
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Old 01-06-2013, 09:44 PM
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Quote:
Originally Posted by Cephalotus View Post
People in Greece are bringing their money BACK to the banks.

Greece banks had 156 billion Euro cash* in November 2012, that is 64 billion Euro more than in October 2012.
No disrespect intended but aren't the banks showing increases in their balance sheets because of the EU equivalent of quantitative easing? That is to say the central banks are inserting liquidity into the system.
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Old 01-06-2013, 10:00 PM
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No disrespect intended but aren't the banks showing increases in their balance sheets because of the EU equivalent of quantitative easing? That is to say the central banks are inserting liquidity into the system.
Yes, we are all basically doing the same dance and just waiting for the music to stop. Odd that the politicians can get away with it. That is what shocks me but I guess it is more that people do not want to see than that they are being lied to.
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Old 01-07-2013, 07:05 PM
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Default Spain Drains Fund Backing Pensions...

http://www.forexlive.com/blog/2013/0...king-pensions/

I don't think things are getting better there. They are tapping everything to avoid a collapse.


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Old 01-09-2013, 11:30 AM
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Quote:
Originally Posted by MIL-DOT View Post
Hey Troll Boy,do you EVER have anything useful or positive to say?


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Old 01-09-2013, 11:48 AM
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With the exception of Germany and northern Europe, alot of the continent is a complete disaster.

Check out this link on youth unemployment
http://www.zerohedge.com/news/2013-0...ariest-heatmap

Also, I saw this article about Europe too. Warning, for those people who only get their news from the MSM, you may not want to check this one. If you do get your news from MSM, who is winning American Idol?
http://theeconomiccollapseblog.com/a...ne-should-know

I like to see what's going on in Europe, because I think we're just a few years behind them. It's sad that the economy is crumbling, in Europe and here, and we are powerless to do anything about it.
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Old 01-09-2013, 02:40 PM
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Europe altogether has a better dept/GDP ratio than the USA, a much smaller deficit and a significantly better trade balance. Average consumer dept is also much lower.
Unemployment may be higher, but we use different methods to count it, so its difficult to compare.


The Euro to US$ ratio is still around 1.3 : 1.

I'm not sure if the US really is in a better situation than Europe. Greece is a mess, but so are some states in The US, too. You should not forget that the GDP of Greece is around 300 billion US$, while the GDP of Germany is around 3,600 billion US$. So the German economy counts 12 times more in the average European economic situation vs. the Greek economy.

I assume that media / politics on both continents point to the other side and tell you how worse it is over there to distract from the own problems. We have many articles in the media about the US falling down. Maybe people prefer to read about some crises elsewhere.
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Old 01-09-2013, 02:45 PM
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I have a friend in Spain, and in his own words "I'm leaving soon".

As far as I know, Norway is one of the only countries in Europe which is still floating. Even Finland's welfare system is severely bankrupt.
Old 01-09-2013, 02:53 PM
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Quote:
Originally Posted by Cephalotus View Post
I assume that media / politics on both continents point to the other side and tell you how worse it is over there to distract from the own problems. We have many articles in the media about the US falling down. Maybe people prefer to read about some crises elsewhere.
I think you're giving the US media too much credit. The media in the US is a total joke. They don't tell us anything. I get alot of information on the US economy from the Daily Telegraph in the UK. All our media is run by large corporations, who fear that if the truth got out about how bad things really are, then people would stop spending money, and the corporations would have less profits.

The US media barely mentions Europe. In the media's eyes, everything is going well in Europe and in the United States.

Let them eat cake.
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Old 01-09-2013, 03:13 PM
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The Richard Dawson thing was funny. S72, you're fan base is growing.

I have a hard time trusting MSM or D.C. It's probably twice as bad as we think it is. So I sure won't pretend to be a sage about anything going on in Europe. I just won't be moving any $ that direction anytime soon.

Our government has borrowed their limit and are having to come up with creative ways to fund everything as we speak. This should be scaring the **** out of everyone, but now we pass it off as business as usual. I pray every day I'm just a crazy sumbich who's losing his mind and I'm all wrong, but I think we're ****ed .... really.
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Disclaimer: The information I provide is my unaffiliated opinion and not reliable as financial advice. Past performance guarantees SHTF.
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Old 01-09-2013, 04:29 PM
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Quote:
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Our government has borrowed their limit and are having to come up with creative ways to fund everything as we speak. This should be scaring the **** out of everyone, but now we pass it off as business as usual.(
And our fine president and many of the dems are spending their time talking about gun control.
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