Greek banks 'to stay shut on Monday'

BBC News ^ | 6-28-2015 | BBC News

[tcrlaf]

Greece banks to stay closed on Monday, Piraeus Bank chief says, after emergency meeting in Athens

This breaking news story is being updated and more details will be published shortly

[oblomov]

>>57 TRILLION dollars in Credit Default Swaps related to Greek Debts.

So somebody may actually make money from a default. The $57T is nominal value. There are two sides to every CDS trade.

I’d caution FReepers entering new shorts here.

You can make money if you are nimble, but I think the easy money has been made.

JMHO.

[Mariner]

"Deutchebank is holding over 57 TRILLION dollars in Credit Default Swaps related to Greek Debts"

If there is sufficient liquidity those swaps will balance out over the medium term, excepting the original losses.

But I don't think the ECB could muster the 6-8 trillion to maintain that liquidity...and so far, nobody know how to suck it back up either.

Including the Fed.

[OwenKellogg]

Everybody knows that the dice are loaded
Everybody rolls with their fingers crossed
Everybody knows that the war is over
Everybody knows the good guys lost
Everybody knows the fight was fixed
The poor stay poor, the rich get rich
That’s how it goes
Everybody knows
Everybody knows that the boat is leaking
Everybody knows that the captain lied
Everybody got this broken feeling
Like their father or their dog just died

Everybody talking to their pockets
Everybody wants a box of chocolates
And a long stem rose
Everybody knows

Everybody knows that you love me baby
Everybody knows that you really do
Everybody knows that you’ve been faithful
Ah give or take a night or two
Everybody knows you’ve been discreet
But there were so many people you just had to meet
Without your clothes
And everybody knows

Everybody knows, everybody knows
That’s how it goes
Everybody knows

Everybody knows, everybody knows
That’s how it goes
Everybody knows

And everybody knows that it’s now or never
Everybody knows that it’s me or you
And everybody knows that you live forever
Ah when you’ve done a line or two
Everybody knows the deal is rotten
Old Black Joe’s still pickin’ cotton
For your ribbons and bows
And everybody knows

And everybody knows that the Plague is coming
Everybody knows that it’s moving fast
Everybody knows that the naked man and woman
Are just a shining artifact of the past
Everybody knows the scene is dead
But there’s gonna be a meter on your bed
That will disclose
What everybody knows

And everybody knows that you’re in trouble
Everybody knows what you’ve been through
From the bloody cross on top of Calvary
To the beach of Malibu
Everybody knows it’s coming apart
Take one last look at this Sacred Heart
Before it blows
And everybody knows

Everybody knows, everybody knows
That’s how it goes
Everybody knows

Oh everybody knows, everybody knows
That’s how it goes
Everybody knows

Everybody knows

[ForYourChildren]

“It’s going to get really ugly.”

Yahoo. Buy gold.

I am being serious. It will affect us here. Especially with all the other stuff going on here and around the world.

[Mariner]

This one will move FAST.

[Viennacon]

YES! GREXIT! GREXIT!

[tcrlaf]

x

[RKBA Democrat]

Just a flesh wound...

[Zeneta]

I’m not inclined to place any bets on Gold for any reason.

[caww]

Well they did vote for a referendum on July 5th....but Eu might not wait past the end of the month...doesn’t look like they will at this point. Much of this is just continual stall imo....five years now they’ve been in this quagmire already....might be times up.

[caww]

GREECE BANK TO BE CLOSED UNTIL JULY 6TH, PROTOTHEMA SAYS

Securing things til after the referendum July 5th.....

[caww]

Well the Greek and Russia port deal is a done deal now....Nato and US not happy.

[expat2]

It’s not only Greece that will suffer. Germany will suffer if contagion spreads. My money is on Merkel caving.

[grania]

My money is on Merkel caving

Why? Germany's the country that can absorb default of the Greek loans. Don't they mostly control the EU printing presses?

Outside the box, but might it be wise for Germany to back out and do comparatively better than everyone else if other European economies are threatened?

[caww]

...” BRICS/SCO starts on 8 July”....

I just listened yesterday to their question/answer format on RT....very interesting as International Investers in the audiance there asking some interesting questions of Bric....Seems Brics focus will be “Infustructure...such as roads and water....having learned in Africa, after building a hospital, there wasn’t adequate road access for the people to get there, and water was scarce....thus they now focus on roads and what will make possible all else.

Not sure Brics will step in as their base is just in the low billions. But I do not underestimate China and Russia have already agreed to assist Greece and why their Pres. is playing this all the way to the edge.

[caww]

A 100 million single withdrawal was already pulled form one bank this week...

[Red in Blue PA]

So who will play the part of George Bailey?

[b4its2late]

Socialism at its’ best.

[Red in Blue PA]

Gotta wonder what made people keep their money in the banks there this long.