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So Greece gets saved

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Valued Contributor
again .. an seems nobody cares, really was a non event, all media hype and they totally don't understand the isues or process ..
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26 REPLIES 26
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As long as it does not jump up and bite us when we least expect it! Have to keep trading with extreme caution until such time as the greeks can learn to collect their taxes!
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Valued Contributor
oh, they'll be back in 2013, maybe sooner .. this was just one step in a long process that'll run for years even decades ..
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there are not many cliches which work in the market but i have seldom found this to not be true....simply buy the rumour and sell the fact..
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Super Contributor
I don't agree that Greece has been saved from anything - all this bailout means is that they can continue to pay civil servants for a while longer. This country has no reasonable prospects of a healthy econcomic future - as it has zero or little productivity. It is like the Weimar republic - on the brink of anarchy.
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Super Contributor
Markets is on credit life support for the next few years. Everyone is happy. Scoop some cream while it still lasts. No one wants a period like after the .com bust again. I remember days where R 1,5 bil went through the JSE per day. Like watching water drip from a tap.
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Robots now write the news.Then the robots who run the market react to their news.Think I'm joking don't ya...not.###Greece.Greece is the decoy.Greece is nothing.UK and USA are the big monsters of debt.And of course, the ECB,like the FED will pump and pump.Till they decide....no more pump.Bang ! Down go the markets.###Reality left the building years ago.TRADE THAT.And be a Luke Skywalker amidst the groaning masses.I just watch the FINI 15.Why ?Coz the bankers' shares will top first....not quite there yet.
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Super Contributor
Yes. Now we have a plan. The market can now consider the extent of the hair cut - 53%+. The amount will now be moved from provisions (allowed as a % by the Basil II pillars) and written off (to be set-off against capital in full) So we get to see if those tests that were designed by the EU for her banking system were valid. The banks will now be re-rated by S&P and the rest. This will effect the central tax take of the bond holders (mostly EU members) and the quality of the 1st party issuances they hold as assets; so they too will be rerated. AND on it goes...
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10,76 mil people in Greece with a declining birth rate at 1,39 kids/woman. Greece has a GDP smaller than SA - no way in hell any debts are gonna be repaid by any Greek, with or without tourist bucks. Greece should never have been included in the EU club in the first place. That includes the rest of the PIIGS. Greece will default, you know it, I know it. Right now all these wheelings and dealings are just a smokescreen for Greece to be booted out - creditors be damned. Make sure to be on the right side of the market when it happens.
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Valued Contributor
well Greece has defaulted, technically it is volantary so not a default, but if you lend 100 and get back 50, I call that default .. but they will never be allowed to leave, this club has to have a one way only door, or the entire concept collapses ..
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Super Contributor
Simon, I spent the last few years sailing my yacht in and around Greece for 4 months during their summer. The whole system is corrupt, people have no work ethic (sit and drink coffee all day) and if you ask for a receipt, they look at you as if you are mad! All the tills are open permanently and nothing is ever rung up. You would have to change an entire entrenched culture to get Greece out of the [email protected]!
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Valued Contributor
sure, agree Greece is toast for a long time ..
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Super Contributor
Darth Vader-Benanke has scanned you from his Debt Star. He found no credits of debt destruction, so will not waste ammo on you.
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There's only one solution to this troubled evolution....PRINT !!!Why ? Political expedience.##However,at groundlevel....oops.A growing INFLATION catastrophe.yeah....Now I drink a 5l of NAmaqua Natural Sweet Rose'.Lots of ice.There we gokEEPS ME COOL.wITH MY WIFE DR PHIL-ing me.Stop That !....heh.###And no debt.All paid.OK Atilla ! bring your Huns.Flank them with ALSI Futures,whilst my GLD and ANG cfds'lead the coming charge.And so the war continues.
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Valued Contributor
good bond auction for Spain this morning .. $3.3bn at sharply lower rates ..
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trade the chart not (stale) news
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Brasil: where the nuts come from. Sheesh.
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Valued Contributor
Charley's Aunt .. there's a flash back ..
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Interesting phenomenon Simon is displaying...traders when they have enetered a position will look for all kinds of signs/bits of news/data to confirm their belifef...called confirmation bias...very powerful but unfortunately damaging to the portfolio...http://en.wikipedia.org/wiki/Confirmation_bias
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And hopes it doesn't give my age away....
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