Greece Officially Defaults, UK Prepares For Euro Collapse

[Eric J (Viking)]

I keep hearing this is just around the corner ...but when???

UK Government prepares for Euro collapse and nuclear financial fallout of Moody’s officially declaring a Greece default on their sovereign debt.

Greece has now become the first developed western nation to default on its sovereign debt and, while the media is downplaying the consequences, no amount of propaganda and deception will be able hide the debris that will be scattered across Europe once the the financial ****-storm is done blowing over.

The consequences will be severe indeed as the spotlight focuses on the rest of the PIIGS nations while investors are forced to consider the situation in Greece, which does not bode well for the economic future of these nations nor is it a good omen for the future of the Euro.

While this can easily be written off as the speculation of some blogger, you’ll see below that the BBC reported that even the UK government issued a red alert warning just yesterday running the headline “UK must prepare for the collapse of the Euro” predicting that the events that unfolded today would soon come to fruition.

further reading here
http://www.activistpost.com/2012/03/greece-officially-defaults-uk-prepares.html

viking

[humanalien]

I think Germany is getting ready to drop the euro completely.
That should put a big dent in the wallets of the evil central banks..

[Lazlo]

One thing to consider during all of this talk is that it is often portrayed that something like this has never happened before. From the OP : Greece has now become the first developed western nation to default on its sovereign debt
Quite the contrary, sovereign defaults are the rule, not the exception. This is discussed in great detail in Reinhart and Rogoff's book " This Time Is Different: Eight Centuries of Financial Folly"

Don't let the title fool you, thet are not arguing that this time around is any different, the title is a play on the financial wizards who think they have figured it out. Remember the statement that "Recessions are a thing of the past and no longer possible. We have transcended financial cycles." ???

Of course, none of this is to say that the whole thing really isn't going to come unravelled this time. ;)

[Cidersomerset]

Hi Viking we are in that lull before the storm period anything can happen !!

As you know i quote Ion a fair amount as it is new material and although it can be vague there are a few things
that are supposed to be happening.....The trouble is Ion won't acknowledge time as we do, its a false concept
as we are all living in one gigantic now.....Which does make sence when you hear it explained....
Ion has not been comming thru since Nov 2011, he was supposed to be back in January, but has not ??

Some of the things that are supposed to happen...

The Euro is going to collapse ....( the dollar may also ??)

Israel is going to nuke Iran....

Radiation levels in the atmosphere is going to get higher , partly due to Fuchishima and war
The atmosphere is going to change with isotope H197 becoming more prevelent...
Which has something to do with accension !!

The 'Guf' ( Hebrew for heaven) is closing. The thinning of the veil, forcing us back to our imortal godship as we are already eternal gods !!!

All Portals, Wormholes and Stargates have been opened since last year and those
who can astral travel will find it easier.....parrallel worlds are also accessible !!!

China owns America !!
http://informationfarm.blogspot.com/2010/05/ion-china-owns-united-states.html

All this is fantastic info and hard to take seriously, if it was not for the credibility of the
Charectors relaying it......I was hoping Bill would have got into it, but he has been
busy elsewhere...or maybe its not his scene.... If you see the threads I normally
put up they are nuts and bolts alternate material....Yet there is something
about the Ion material that intrigues me.......Steve

[foreverfan]

Didn't Fulford predict that Greece and Spain would default?

Plus did anybody notice the count is up to 254 resignations from world banks, investment houses, money funds who have been arrested or resigned.

http://patrickhenrypress.info/node/587875

[Fellow Aspirant]

Greece has NOT defaulted on its debt. It's creditors have arrived at a deal to allow Greece to receive the second part of the bailout. The creditors have agreed to absorb huge losses, but as of yesterday, Greece has NOT defaulted.

http://www.smh.com.au/business/world-business/threat-of-greek-default-fades-but-bailout-may-not-be-last-20120312-1ut4s.html

Jeez, Chicken Littles, show a little patience, please. The sky may yet fall down, but wait until it does!

[Lettherebelight]

The new loan will stave off the inevitable for a while longer. Eventually, they will realise that it is impossible to repay.

Defaulting could be good for Greece...Iceland is a case in point. They are free of the EU now and doing much better for it.

[Eric J (Viking)]

Steve Quayle recieved this ... pretty close to the bone? ...

Alert From European Investment Banker

~~~~~~~

Mach 12, 2012

Steve,

I am someone who has worked for one of the largest investment banks in the world RBS and I can tell you that the contagion of debt has run its course. We are already prepped for a Greek default this month especially since the recent downgrade by Fitch.

I can tell you is this, watch the Eurozone carefully, even though Greece is the star, the UK and it's Financial power center "The City" is in a whole heap of trouble that is much worse than Greece or any of the PIIGS; France included. If Greece goes down this month, Legarde and Co are working laboriously but an uncooperative Greek public and a Situation beyond repair is not making it easy for the WB, IMF robber barons. When the default happens you have about two maybe three weeks to get out of the dollar. After that it will be impossible.

Regards,

V.

http://stevequayle.com/News.alert/12_Money/120312.Euro.banker.html

~~~~~~~~

viking

[foreverfan]

Greece has NOT defaulted on its debt. It's creditors have arrived at a deal to allow Greece to receive the second part of the bailout. The creditors have agreed to absorb huge losses, but as of yesterday, Greece has NOT defaulted.

If somebody did that to me, I'd call it a default. This is just sugar coating of the MSM.

[fractal being]

Steve Quayle recieved this ... pretty close to the bone? ...

Alert From European Investment Banker

~~~~~~~

Mach 12, 2012

Steve,

I am someone who has worked for one of the largest investment banks in the world RBS and I can tell you that the contagion of debt has run its course. We are already prepped for a Greek default this month especially since the recent downgrade by Fitch.

I can tell you is this, watch the Eurozone carefully, even though Greece is the star, the UK and it's Financial power center "The City" is in a whole heap of trouble that is much worse than Greece or any of the PIIGS; France included. If Greece goes down this month, Legarde and Co are working laboriously but an uncooperative Greek public and a Situation beyond repair is not making it easy for the WB, IMF robber barons. When the default happens you have about two maybe three weeks to get out of the dollar. After that it will be impossible.

Regards,

V.

http://stevequayle.com/News.alert/12_Money/120312.Euro.banker.html

~~~~~~~~

viking

Are you sure? Today on March 13 Fitch upgraded Greece by 6 notches:
http://www.ekathimerini.com/4dcgi/_w_articles_wsite2_1_13/03/2012_432834

[foreverfan]

http://www.cartoonstock.com/newscartoons/cartoonists/jsi/lowres/jsin131l.jpg

[Sabrina]

http://www.dutchnews.nl/news/archives/2012/03/labour_will_not_support_toughe.php


No Dutch majority for new eurozone rules, Labour to vote no

Tuesday 13 March 2012

The Labour party will not take the minority government's side and vote in favour of new tougher eurozone monetary union rules, the two leading contenders for the party leadership say in Tuesday's NRC.

Favourites Diederik Samsom and Ronald Plasterk told the paper they do not support the rules, which will force the Netherlands to reduce its budget deficit to 3% by 2013.

Until now, Labour has supported the cabinet and ensured EU policy wins majority support.

Approval

The new rules will still become law even if the Dutch parliament fails to ratify them because only 12 out of 17 eurozone countries must approve the measures for them to become law.

However, a no-vote will be embarrassing for the government, which has made a point of being tough on eurozone rule-breaking, the paper points out.

Both Labour MPs stress they are not opposed to the policy 'in principle' but are unhappy that the Netherlands has not been given clemency by the European Commission. The Commission can allow a country to break the 3% rule in 'very special circumstances'.

The MPs say the Dutch economy will be damaged unnecessarily be the severe cuts necessary to reduce the budget deficit to 3%.

[Operator]

I've read a book about software specification by Thomas Gilb (some 25 years ago !).

It was written in a style with so much humor I still can recall a lot of the material.

One of the things was the "All the holes in the boat principle": If you have a boat with 20 holes and 18 corks
you can still try to sail away and think you will solve the remaining problems on your way.
But no matter how fast you exchange corks of position the net result is 2 holes ... you will sink.

How can you solve a debt crisis by borrowing more money ?
Especially if your rating is going down at the same time ... :p

Same goes for trying to dig your way out of a hole, is not gonna happen.

So unless they will hand over more and more money without asking it back (let alone with interest) it is only
to kick the can down the road ... buying time. They will demonstrate more and more clearly to us that money
has in fact absolutely no meaning :eek:

[modwiz]

I've read a book about software specification by Thomas Gilb (some 25 years ago !).

It was written in a style with so much humor I still can recall a lot of the material.

One of the things was the "All the holes in the boat principle": If you have a boat with 20 holes and 18 corks
you can still try to sail away and think you will solve the remaining problems on your way.
But no matter how fast you exchange corks of position the net result is 2 holes ... you will sink.

How can you solve a debt crisis by borrowing more money ?
Especially if your rating is going down at the same time ... :p

Same goes for trying to dig your way out of a hole, is not gonna happen.

So unless they will hand over more and more money without asking it back (let alone with interest) it is only
to kick the can down the road ... buying time. They will demonstrate more and more clearly to us that money
has in fact absolutely no meaning :eek:

Agreed. Money is only meant to stand as an alternative to something real, that would ordinarily be bartered or traded/exchanged. With that in mind, a basket of apples or a bushel of rice is worth far more than any amount of gold. Interest is an idea conceived by demons and defaulting is the best remedy for this scourge. Throw out the criminals and let's begin honest trade between regions/countries again. Sovereign, interest free money to allow for perishable goods that have to be moved and for instances where trade between entities has one entity not needing what is available.

A reset begins in earnest when everybody without a hand in the till realizes that the scam has run for so long the only way to fix it is a reset. We have been robbed enough now and a complete kiss my arse to the banks can be considered settling in full and in their favor.

To all the well paid banksters and their political accomplices.14569

[ThePythonicCow]

When the default happens you have about two maybe three weeks to get out of the dollar. After that it will be impossible.

If my recollection is correct, Pastor Lindsey Williams told us this same thing, sometime perhaps a year ago. When the Euro crashes, he said that you've got no more than a couple of weeks to get out of the Dollar.

I'm smelling a rat here. Some bastard in power is setting us up to panic in a predictable fashion, leading to more debt for the major governments and more profit and control for the one's driving this.

I don't think they've got the populace desperate enough to pull off the big switcheroo to some new fangled world monetary system they'd like to impose.

[Seikou-Kishi]

If they truly want to bring about a single world currency, then it doesn't look very close to happening at the moment. People can see how disastrous the attempt was just for the Eurozone, a single world currency would be much harder to argue into existence and would magnify the Eurozone problems to global proportions.

"Since the Euro was such a sterling success (sorry for the pun), how about a worldwide currency?"

[Calz]

"They" are still pulling the smoke and mirror trick for a bit ... :juggle:

_____________


Just how big is Greece’s new bailout, really?

March 14, 2012 1:17 pm by Peter Spiegel.

Most of officialdom has been referring to the second Greek bailout, formally launched today, as a €130bn rescue. But the first 189-page report by European Union and International Monetary Fund monitors makes clear it’s actually a lot larger, though the actual size depends on how your measure it.

In the latest in our occasional series “We Read Brick-Sized Bailout Reports So You Don’t Have To”, Brussels Blog will attempt to explain why the figures have gotten so confusing and the bailout is probably better described as a €164.5bn rescue. Or maybe it’s €173.6bn.

The key thing to remember is that the first €110bn Greek bailout was originally supposed to run through the middle of next year and its remainnig funding will be folded into the new package and added to the €130bn in new funding. According to the report, €73bn of the first bailout has been disbursed, leaving about €37bn left.

But here’s where it gets slightly complicated.


more: http://blogs.ft.com/brusselsblog/2012/03/just-how-big-is-greeces-new-bailout-really/#axzz1p9ZU9NUl