Greece paralyzed from strikes

[Veritas]

Anyone want to buy some mountains in Austria?
“While its new European banker overlords are pushing Greece to sell off, pardon, ‘privatize’ the bulk of its most monetizable assets, Austria has already seen the writing on the wall, and in a very proactive step, is offering to sell two mountain peaks in the Austrian Alps.”
http://www.zerohedge.com/article/greece-prepares-auction-acropolis-austria-selling-its-mountains

[briansd1]

The interesting thing about a Greece default is that nobody knows who will be left holding the bag.

Because derivatives are traded in a unregulated markets, nobody knows what the consequences are.

The banks holding the Greek debts might have insurance policies against default. Those policies might have been sold by American companies.

Will we see another AIG type failure, either in America or Europe?

No one seems to be sure, in large part because the world of derivatives is so murky, but the possibility that some company out there may have insured billions of dollars of European debt has added a new wrinkle to the sovereign default debate.

[briansd1]

The interesting thing about a Greece default is that nobody knows who will be left holding the bag.

Because derivatives are traded in a unregulated markets, nobody knows what the consequences are.

The banks holding the Greek debts might have insurance policies against default. Those policies might have been sold by American companies.

Will we see another AIG type failure, either in America or Europe?

No one seems to be sure, in large part because the world of derivatives is so murky, but the possibility that some company out there may have insured billions of dollars of European debt has added a new wrinkle to the sovereign default debate.

[briansd1]

The interesting thing about a Greece default is that nobody knows who will be left holding the bag.

Because derivatives are traded in a unregulated markets, nobody knows what the consequences are.

The banks holding the Greek debts might have insurance policies against default. Those policies might have been sold by American companies.

Will we see another AIG type failure, either in America or Europe?

No one seems to be sure, in large part because the world of derivatives is so murky, but the possibility that some company out there may have insured billions of dollars of European debt has added a new wrinkle to the sovereign default debate.

[briansd1]

The interesting thing about a Greece default is that nobody knows who will be left holding the bag.

Because derivatives are traded in a unregulated markets, nobody knows what the consequences are.

The banks holding the Greek debts might have insurance policies against default. Those policies might have been sold by American companies.

Will we see another AIG type failure, either in America or Europe?

No one seems to be sure, in large part because the world of derivatives is so murky, but the possibility that some company out there may have insured billions of dollars of European debt has added a new wrinkle to the sovereign default debate.

[briansd1]

The interesting thing about a Greece default is that nobody knows who will be left holding the bag.

Because derivatives are traded in a unregulated markets, nobody knows what the consequences are.

The banks holding the Greek debts might have insurance policies against default. Those policies might have been sold by American companies.

Will we see another AIG type failure, either in America or Europe?

No one seems to be sure, in large part because the world of derivatives is so murky, but the possibility that some company out there may have insured billions of dollars of European debt has added a new wrinkle to the sovereign default debate.

[CA renter]

[quote=briansd1]The interesting thing about a Greece default is that nobody knows who will be left holding the bag.

Because derivatives are traded in a unregulated markets, nobody knows what the consequences are.

The banks holding the Greek debts might have insurance policies against default. Those policies might have been sold by American companies.

Will we see another AIG type failure, either in America or Europe?

No one seems to be sure, in large part because the world of derivatives is so murky, but the possibility that some company out there may have insured billions of dollars of European debt has added a new wrinkle to the sovereign default debate.

[/quote]

Which is exactly why the derivatives market should be kept very small, very highly regulated, and fully transparent.

Personally, I think derivatives are simply a tool to allow mispricing of risk on the front end. IMHO, the world would be much better off without derivatives.

[CA renter]

[quote=briansd1]The interesting thing about a Greece default is that nobody knows who will be left holding the bag.

Because derivatives are traded in a unregulated markets, nobody knows what the consequences are.

The banks holding the Greek debts might have insurance policies against default. Those policies might have been sold by American companies.

Will we see another AIG type failure, either in America or Europe?

No one seems to be sure, in large part because the world of derivatives is so murky, but the possibility that some company out there may have insured billions of dollars of European debt has added a new wrinkle to the sovereign default debate.

[/quote]

Which is exactly why the derivatives market should be kept very small, very highly regulated, and fully transparent.

Personally, I think derivatives are simply a tool to allow mispricing of risk on the front end. IMHO, the world would be much better off without derivatives.

[CA renter]

[quote=briansd1]The interesting thing about a Greece default is that nobody knows who will be left holding the bag.

Because derivatives are traded in a unregulated markets, nobody knows what the consequences are.

The banks holding the Greek debts might have insurance policies against default. Those policies might have been sold by American companies.

Will we see another AIG type failure, either in America or Europe?

No one seems to be sure, in large part because the world of derivatives is so murky, but the possibility that some company out there may have insured billions of dollars of European debt has added a new wrinkle to the sovereign default debate.

[/quote]

Which is exactly why the derivatives market should be kept very small, very highly regulated, and fully transparent.

Personally, I think derivatives are simply a tool to allow mispricing of risk on the front end. IMHO, the world would be much better off without derivatives.

[CA renter]

[quote=briansd1]The interesting thing about a Greece default is that nobody knows who will be left holding the bag.

Because derivatives are traded in a unregulated markets, nobody knows what the consequences are.

The banks holding the Greek debts might have insurance policies against default. Those policies might have been sold by American companies.

Will we see another AIG type failure, either in America or Europe?

No one seems to be sure, in large part because the world of derivatives is so murky, but the possibility that some company out there may have insured billions of dollars of European debt has added a new wrinkle to the sovereign default debate.

[/quote]

Which is exactly why the derivatives market should be kept very small, very highly regulated, and fully transparent.

Personally, I think derivatives are simply a tool to allow mispricing of risk on the front end. IMHO, the world would be much better off without derivatives.

[CA renter]

[quote=briansd1]The interesting thing about a Greece default is that nobody knows who will be left holding the bag.

Because derivatives are traded in a unregulated markets, nobody knows what the consequences are.

The banks holding the Greek debts might have insurance policies against default. Those policies might have been sold by American companies.

Will we see another AIG type failure, either in America or Europe?

No one seems to be sure, in large part because the world of derivatives is so murky, but the possibility that some company out there may have insured billions of dollars of European debt has added a new wrinkle to the sovereign default debate.

[/quote]

Which is exactly why the derivatives market should be kept very small, very highly regulated, and fully transparent.

Personally, I think derivatives are simply a tool to allow mispricing of risk on the front end. IMHO, the world would be much better off without derivatives.

[Arraya]

Well the cat is out of the bag on the financial monster they created. There is no re-regulating it. It’s like the whole banking system is wired for implosion.

Here is a good piece on greece

Democracy vs Mythology: The Battle in Syntagma Square
I have never been more desperate to explain and more hopeful for your understanding of any single fact than this: The protests in Greece concern all of you directly.

What is going on in Athens at the moment is resistance against an invasion; an invasion as brutal as that against Poland in 1939. The invading army wears suits instead of uniforms and holds laptops instead of guns, but make no mistake – the attack on our sovereignty is as violent and thorough. Private wealth interests are dictating policy to a sovereign nation, which is expressly and directly against its national interest. Ignore it at your peril. Say to yourselves, if you wish, that perhaps it will stop there. That perhaps the bailiffs will not go after the Portugal and Ireland next. And then Spain and the UK. But it is already beginning to happen. This is why you cannot afford to ignore these events.

[Arraya]

Well the cat is out of the bag on the financial monster they created. There is no re-regulating it. It’s like the whole banking system is wired for implosion.

Here is a good piece on greece

Democracy vs Mythology: The Battle in Syntagma Square
I have never been more desperate to explain and more hopeful for your understanding of any single fact than this: The protests in Greece concern all of you directly.

What is going on in Athens at the moment is resistance against an invasion; an invasion as brutal as that against Poland in 1939. The invading army wears suits instead of uniforms and holds laptops instead of guns, but make no mistake – the attack on our sovereignty is as violent and thorough. Private wealth interests are dictating policy to a sovereign nation, which is expressly and directly against its national interest. Ignore it at your peril. Say to yourselves, if you wish, that perhaps it will stop there. That perhaps the bailiffs will not go after the Portugal and Ireland next. And then Spain and the UK. But it is already beginning to happen. This is why you cannot afford to ignore these events.

[Arraya]

Well the cat is out of the bag on the financial monster they created. There is no re-regulating it. It’s like the whole banking system is wired for implosion.

Here is a good piece on greece

Democracy vs Mythology: The Battle in Syntagma Square
I have never been more desperate to explain and more hopeful for your understanding of any single fact than this: The protests in Greece concern all of you directly.

What is going on in Athens at the moment is resistance against an invasion; an invasion as brutal as that against Poland in 1939. The invading army wears suits instead of uniforms and holds laptops instead of guns, but make no mistake – the attack on our sovereignty is as violent and thorough. Private wealth interests are dictating policy to a sovereign nation, which is expressly and directly against its national interest. Ignore it at your peril. Say to yourselves, if you wish, that perhaps it will stop there. That perhaps the bailiffs will not go after the Portugal and Ireland next. And then Spain and the UK. But it is already beginning to happen. This is why you cannot afford to ignore these events.

[Arraya]

Well the cat is out of the bag on the financial monster they created. There is no re-regulating it. It’s like the whole banking system is wired for implosion.

Here is a good piece on greece

Democracy vs Mythology: The Battle in Syntagma Square
I have never been more desperate to explain and more hopeful for your understanding of any single fact than this: The protests in Greece concern all of you directly.

What is going on in Athens at the moment is resistance against an invasion; an invasion as brutal as that against Poland in 1939. The invading army wears suits instead of uniforms and holds laptops instead of guns, but make no mistake – the attack on our sovereignty is as violent and thorough. Private wealth interests are dictating policy to a sovereign nation, which is expressly and directly against its national interest. Ignore it at your peril. Say to yourselves, if you wish, that perhaps it will stop there. That perhaps the bailiffs will not go after the Portugal and Ireland next. And then Spain and the UK. But it is already beginning to happen. This is why you cannot afford to ignore these events.

[Author]

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