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Greece orders raid on government coffers as cash dwindles

Posted by Eudaimonia 5 years, 10 months ago to Economics
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This is so out of "Atlas Shrugged" that the IMF representative for Greece is named "Thomsen".

Now non-fiction!
SOURCE URL: http://www.telegraph.co.uk/finance/economics/11548973/Talks-with-Greece-have-gained-momentum-but-still-long-way-from-target-IMF.html


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  • Posted by $ jbrenner 5 years, 10 months ago
    First Cyprus, now Greece, next .. the Euro? the dollar? I swear the looters must be using AS as a playbook.
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    • Posted by 5 years, 10 months ago
      I've been convinced for some time now that the two big issues of Obamacare and Illegal Immigration were forced upon us and will never be "fixed" because a North American Economic Union is what is desired.

      And we see how well it's working for Europe.

      Now, I personally have no issue with a North American Economic Union if
      1) It evolves organically
      2) My rights are preserved
      3) The People have a choice

      However, none of the above is true.
      It is being forced down our throats.
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      • Posted by Zenphamy 5 years, 10 months ago
        Yes the CanAmex Union, and how do they plan to fund the Glorious North American Union? But personally, I don't see many even talking about the possibility, let alone the inevitable. "But it can't happen here" many will say, and many more will say, "We need to share".
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  • Posted by term2 5 years, 10 months ago
    We should put all these "actions" that the socialists take when things get really bad into a file so that WE know what to expect here when the time comes. About the only safe thing I can think of is owning gold and silver buried in the backyard. It will be made illegal to hold again as it was in 1934, but they do have to FIND it first. Forget the banks and the dollar. It will be important that the fewest number of people are let into your "circle of trust" too
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  • Posted by $ blarman 5 years, 10 months ago
    I lived in Greece and Cyprus for two years. Everyone there was trying to get a government job because it was guaranteed income and they only really worked three days a week due to all the official holidays. I have been watching them with great interest since that day. I knew they were going to have trouble with the Olympics and I could tell you that the riots would result in problems (though I didn't anticipate the deaths). I thought the EU was both stupid and desperate to invite them to join. That they abandoned even the democratic socialist government to vote for an avowed socialist told me all I needed to know.

    The people there are good people, but they have no cultural value for hard work and that is the problem. There are no ethics to instill in the people themselves how productivity is a result of effort and ingenuity - not handouts. Greece is the poster child of what happens when the government supplies everything: it eventually collapses. Greece is a warning to the entire rest of the socialist world about the end results of such policies. It is a crime that few governments actually pay attention to the lessons of history happening all around them. They refuse to learn even though the examples lie openly to their view.

    The Greek word is paropedes (I'd spell it, but it's a cyrillic alphabet) or "blinders" - similar to the ones you put on a horse to keep it going in a straight line oblivious to what's going on in the world around them.
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  • Posted by $ ObjectiveAnalyst 5 years, 10 months ago
    Hello Eudaimonia,
    A harbinger... a storm is brewing and we won't be spared. Eventually Peter gets tired of loaning money to pay Paul.
    The latest warning from Ron Paul about our coming currency collapse paints a bleak picture. https://orders.cloudsna.com/chain?cid=MK...
    Regards,
    O.A.
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    • Posted by term2 5 years, 10 months ago
      we have heard about the currency collapse for literally decades now. The question is WHEN. It will probably come quickly when it comes, and the government will try anything it can get away with to stretch things out a little longer (until the next administration takes over). Probably buying gold and silver and burying it in the backyard is the way to go, for all except what you need to spend in perhaps the next 30 days.
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      • Posted by $ ObjectiveAnalyst 5 years, 10 months ago
        Hello term2,
        I agree. If you can purchase small amounts of precious metals at a time, avoid reporting to the government and store it securely you at least reduce the risk of having your wealth confiscated.
        Regards,
        O.A.
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  • Posted by Herb7734 5 years, 10 months ago
    It would be interesting to discover how many people who run the Greek government are solvent. I'll bet there are lots of Wesliki Mouchikis' out there.
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  • Posted by wiggys 5 years, 10 months ago
    One more obvious demise of a socialist country. After the government takes what ever money they can from government coffers they will confiscate the bank accounts of the population. While all of this plays out right in front of us not one other government will take notice and believe that it can happen to their country until it does happen. Like I said yesterday show me how this can be stopped from happening in the usa.
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    • Posted by $ allosaur 5 years, 10 months ago
      I have no idea how it can be stopped.
      Consider all the pinheads now in control of our country.
      And should the cackling hag from Arkansas become POTUS?
      Draw the curtains. The sad farce is over.
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      • Posted by wiggys 5 years, 10 months ago
        I just read that Halliburton has cut 9000 employees in the last two quarters and has planned more reductions. The rig count in the US has dropped 50% from last November and continues to fall. Where is the government getting all of the revenue from, they are not getting it but saying they are. Greece here we come.
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  • Posted by freedomforall 5 years, 10 months ago
    The Greek people should deal with Thomsen in Galtian fashion. Strike by leaving the EU. Recreate the Drachma with backing of production and eliminate the unafforable dole for those under 60 years old. End all negotiations with international bankers.
    The day of reckoning is coming to America, too. If we don't take action to prevent this we will deserve our fate.
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    • Posted by 5 years, 10 months ago
      Unfortunately, that last won't happen.
      Their economic culture is deeply socialist, and the only alternative party is outwardly fascist.

      They are screwed if they stay or leave.
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      • Posted by freedomforall 5 years, 10 months ago
        Yes, there will be suffering regardless. The choice before them now is between suffering as serfs or suffering as free men. The EU and the banksters will pretend there is no choice but for Greeks to be their serfs if they want to eat and eventually return to prosperity. If they are smart enough to analyze the cost/benefit they will see through the lies of power seeking looters. But they likely will accept the yoke of slavery instead of the responsibility of freedom.
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  • Posted by $ jlc 5 years, 10 months ago
    So - right now they are only robbing themselves. (Wm and I talked about this a bit yesterday.) But we are predicting, based on Cyprus, that they will begin taking money from private accounts soon.

    Is that the situation in a nutshell.

    In that case, the take-with for us should be to invest in stuff that is harder to take.

    Jan
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    • Posted by jdg 5 years, 10 months ago
      Indeed, as soon as word gets out, they will have to do their grabbing immediately, because the news will cause a run on the banks.
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      • Posted by SaltyDog 5 years, 10 months ago
        There won't be much to grab. If Greece bolts from the EU, the euro will no longer be the currency. In any event, the euro will fold like a soggy taco because Greece will default on all of her loans. They might even make physical possession of a euro a crime, forcing residents to exchange their euros for the new drachma at inflated prices. And that, dear friends and correspondents, will be the first peal of the death knell of the world economy.
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        • Posted by jdg 5 years, 10 months ago
          I don't think they can enforce that if they enact it. Greece is a small country and has two other EU members on its borders, with no customs barriers there.
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  • Posted by salta 5 years, 10 months ago
    Yesterday I heard a proposal for a parallel currency in Greece. It seemed to me it was a way of issuing government bonds while meeting "austerity" restrictions in the Euro currency. More smoke and mirrors.
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