Greece poses $41 billion risk to U.S. banks

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Shill
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Greece poses $41 billion risk to U.S. banks

http://www.marketwatch.com/story/greece-poses-41-billion-risk-to-us-banks-2011-06-15?link=MW_story_latest_news

Hmm, I feel this number is a little Low. Stimulus is over and now come the huge Federal job cuts along with continued state and local government cuts. Things are going to get real bad.

Keep your eyes on Greece and learn.

Edited by admin on 11/08/2014 - 06:07

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xaritas
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More EUR trouble

"ECB's Wellink calls for doubling of euro bail-out fund"

http://www.reuters.com/article/2011/06/16/euro-wellink-idUSLDE75F02920110616

came across via http://www.forexlive.com/blog/2011/06/16/ecbs-wellink-european-emergency-fund-should-be-doubled-to-1-5-trln-if-private-investors-contribute-to-greek-refinancing/

Recommendation was to double bail out fund to 1.5T EUR. This little comment pulled the rug out from under EUR/USD. (Which was sweet because I am short)

Shill
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Greek 2y bond yield just

Greek 2y bond yield just tipped 29%.

GGGB2YR: GREEK GOVT BOND HELLENIC REP2Y Summary - Bloomberg hat_tip.png

Mother mary.

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33 and a turd
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Germany wants to delay the

Germany wants to delay the second Greek bailout to September

http://www.forexlive.com/blog/2011/06/16/euro-zone-banking-sources-say-germany-pushing-to-delay-second-rescue-package-for-greece-until-september/

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GFforever
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30 %  now   and the rest

30 %  now

and the rest starting to follow Greek

http://www.bloomberg.com/apps/quote?ticker=GIGB2YR:IND

http://www.bloomberg.com/apps/quote?ticker=GSPT2YR:IND

http://www.bloomberg.com/apps/quote?ticker=GIGB2YR:IND

caramel
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http://www.bloomberg.com/apps

http://www.bloomberg.com/apps/quote?ticker=GGGB10YR:IND

Ga, 10yr over 18%.  Talk about pointing a gun at the politicians.

davefess
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remember the movie Coming to America?

so how soon do we see similar events here. When Greece eventually defaults would that not start a chain reaction of bankruptcy/credit freeze in the financial world?

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So it would seem davefess

Is that when silver finally becomes currency along with gold?

Also, go long stored wheat, beans, rice and toilet paper.

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rice

we have been buying bags or rice now for awhile! :) also thinking of buying a bunch of incandescent light bulbs and selling those next year at 3X the price now since you won't be able to get them

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caramel
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http://www.zerohedge.com/arti

http://www.zerohedge.com/article/collapsing-greek-income-statement-or-why-greece-doomed

pretty much all that's relevant - if Greece is in the red big time year over year currently, more debt, with higher & higher interest rates coupled with plummeting revenue will continue to exacerbate the problem.  

Either creditors take a big time hit to reduce expenses for the Greeks or the Greeks default.  Problem for the Greeks is even if the creditors restructure, its citizens will remain indebted for the long term to the bankers.  Why give away your assets and in particular, your gold, only to kick the can down the road a little while only to be back in the exact same position you're in today?  

atlee
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Does China Rescue Greece?

Because Europe is one of their biggest trading partners? Jeez... Greece, China... all we have to so is figure a way to get Turkey in here and we can have dinner.

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