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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: elmatador who wrote (82566)	11/2/2011 2:47:18 PM
From: carranza2	1 Recommendation Read Replies (5) \| Respond to of 217839

I don't know if you saw my link to a zerohedge article in which the real calculations were made: the haircut is not 50% but actually 28%. See: Message 27729129 The referendum is merely Papandreous's way of keeping the accounting honest. What he of course realizes is that a 28% haircut (or a 50% haircut) is insufficient since the bonds are essentially worthless. I feel sorry for the poor bastard, caught between a rock and hard place because once the Greek people figure out that they are going to be suffering thanks to the application of the 50% to their assets and less to more privileged players, they are going to go crazy unless, of course, the arithmetic changes, which is of course his political goal. Very crafty. Since he cannot demand that the math be made more equal, he'll let the referendum do it. And if it results in a vote to not accept the deal, too bad for the fat cats. I actually love it because I think a referendum on issues of this magnitude is healthy. I mean, if the people are going to suffer austerity, they may as well determine their fate. The entire EU pipedream is a technocratic nightmare designed to install uber-bureaucrats in power with little or no popular input. A bunch of idiotic academics living in dreamlalalaland who have no idea as to how things are formed and are clueless about personal liberties and self-determination. All the drama, the endless negotiations, the meetings, the interminable mentally masturbatory tooing and froing cannot hide the fact that the EU is totally flawed. It is either a real nation or it is not. It is not. And it cannot be for a variety of reasons. This is the ultimate issue, whether the deep structural flaws in the EU are recognized or papered over until the next crisis. Some day this will be recognized. A GREAT reason to engage in a long term short of the Euro. Think of it: If a mathematically meaningful 50% haircut actually happens, what will the Irish, who bent over for the banks do? I can definitely see some second-guessing of their decision. Andthe Italians? And the Spanish? Everyone will want haircuts and will correctly point to Greece as the example. And if that happens, think of the turbulence and volatility, think of the Germans being asked to shoulder the huge hot stinking mess the EU has become. I love it. Moolah to be made. Nigel Farage has a clue: youtube.com