Posted on 06/13/2012 8:07:01 AM PDT by TigerLikesRooster
Greeks are pulling cash out of banks, stocking up on food in panic ahead of make-or-break election Sunday
Dina Kyriakidou and George Georgiopoulos, Reuters Jun 13, 2012 – 8:41 AM ET
ATHENS — Greeks pulled their cash out of the banks and stocked up with food ahead of a cliffhanger election on Sunday that many fear will result in the country being forced out of the euro.
Bankers said up to 800 million euros (US$1 billion) were leaving major banks daily and retailers said some of the money was being used to buy pasta and canned goods, as fears of returning to the drachma were fanned by rumours that a radical leftist leader may win the election.
The last published opinion polls showed the conservative New Democracy party, which backs the 130 billion euro ($160 billion) bailout that is keeping Greece afloat, running neck and neck with the leftist SYRIZA party, which wants to cancel the rescue deal.
(Excerpt) Read more at business.financialpost.com ...
Odd how the MSM can't seem to 'get' this story...
Greece is a small enough economy that it can be propped up - makes it look like a country falling off a cliff in slow motion. When Spain or Italy falls, it’ll be fast - maybe not one hour - or one day - but close.
Greece is a small enough economy that it can be propped up - makes it look like a country falling off a cliff, but in slow motion. When Spain or Italy falls, it’ll be fast - maybe not one hour - or one day - but close.
Thanks for the link:
http://www.grandpappy.info/honehour.htm
The GDP of Greece was around $310 Billion. So $1 Billion/day out of an economy that small is significant.
—Greece is a small enough economy that it can be propped up - makes it look like a country falling off a cliff in slow motion. When Spain or Italy falls, it’ll be fast - maybe not one hour - or one day - but close.—
I heard it said this way: The problem with Spain and Italy is that they are not too big to fail. Rather, they’re too big to do anything about if they do a Greece.
The U.S. in 2016?
From the CIA Factbook it seems there are about 3.5 million folks of “household” age. So if we divide a billion by that we get about 285.00 US per household, per day being pulled out of their banks.
Of course this is strictly a back of the envelope SWAG.
It’s a member of the Vorlon race from the TV show Babylon 5. Technically, it’s a Vorlon Encounter Suit since the Vorlon are non-corporeal beings.
/johnny
Ambassador Kosh. He is a Vorlon from the sci-fi show Babylon 5.
That line is one of the few that he actually speaks on the show. It precedes a time of great upheaval in the storyline....a great evil has returned to the galaxy and it could mean the end of the 3rd Age of Man.
The Vorlons are the last of the great Ancient races who last defeated this evil some 1000 years before.
I’d wager they are buying food and other stuff with it.
Thanks for the replies.
See, I knew CIA types were hanging out on here.
And who REALLY believes you are a cook, anyway?
Sure. Like that guy on the train.
Google tells me it’s 285.714286. My calculator won’t go that high.
That tells me that the dominoes are about to fall. Be ready, FRiends.
Did I make it in before the smart guys who say it won’t happen here, because of the “great returns” they are still getting in the stock market?
And no, that's not where I went to culinary school, but I've worked with chefs that did, and they aren't all bad.
/johnny
/johnny
C4 ... only thing I can cook.
And the books.
LOL.
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