Wednesday, May 12, 2010

help 2 greece? not at all, just 2 greece's creditors :-(

german chancellor angela merkel (facebook profile picture)

folks, ive posted my thoughts abt the 'help' to greece and other financially weak european countries via the 750billion-€uros-fund agreed by european leaders on the weekend to chancellor merkel's facebook link abt that issue. btw, i do think they didnt help greece or greek people! theyve just rescued all that banks, insurancies, hedge funds and other creditors who will get paid in full on greek government bonds :-(. do you think there are folks (employees?) out there who'll read that stuff and tell her anything abt my sooooo great ideas? LOL! hmmmm, im not sure, but i think its important 2 tell the polititians our feelings abt their sad decisions anyway! well, lets do it in the streets, on facebook, on twitter, by our electoral votes, by phone, directly (hell, that would be great!) and the like. whats your opinion?

post #1:

folks, what abt the 'rescue' fund for weak european states like greece? is it a real help for greece? i dont think so. why? a real help for greece would be e.g. the reduction of its debts (i.e. a default or a partial default of greek bonds. what abt 80% of the nominal values?) or the like ...

so what does such a rescue fund mean? well, 1st of all, greece becomes money to pay its creditors ... once again ... greece gets money to pay the current (double digit?) interest rates to its creditors ... and the creditors (mostly european + u.s. banks and worldwide operating hedge funds, pension funds etc) gets 'their' nominals and 'their' crazy interest rates paid in full ...

will it help greece 2 restructure its public spending orgy and 2 become competitive again? will it help the greek people? any opinion out there?

last but not least, who is gonna pay 4 that rescue package? we can read in the mainstream media that this package will be 'carried' by germany, france, austria ... folks, there is a small problem out there! germany, france, austria ... do not have any money to lend. they need themselves (every day!) new credits to continue their current operations ... they have to borrow the money they will lend 2 PIGS and PIIGS (portugal, irland, italy, greece, spain).

well, once again have our so genial politicians managed to take the money from the main street (~taxpayers like me) and give it to wall street (~banks, insurances, hedge funds, ...)

OMG, why is homo sapiens that stupid?

my dear gold/silver standard, pls pls pls come back to planet earth soon and end all that fiat money malinvestments and unfairness ...

anyway, folks, take care and do not invest in government bonds :-)
j.

post #2 (jusT SECONDS LATER AND THUS DIRECTLY BELOW THE 1ST ONE):

unfortunately, my opinion was right :-(
folks, mr. market shares my opinion abt the outcome of the 'greece issue' on the weekend, just look at the top 3 german stocks 2day morning:

deutsche bank +11.90%
commerzbank +9.13%
allianz +7.86%

btw, im not against gains for financial institutes in general, im just against taxpayer financed gains for politicians' buddies, of course ...

what a great day 2day! of course, especially 4 the banks, not at all for the taxpayer :-(

S&P500 +4.40%
dax +5.30%
nasdaq100 +5.04%

btw, the deutsche bank stayed the best stock in germany's dax for the whole day. closing quote? +12.86% => no additional comments needed :-(

-----
folks, there were many interesting ideas posted to that facebook link, one very special from a greek reader:

Please help us! Send us 300 German technocrats to make this mess a state again! And to send in jail our politicians who stole our (German and Greek people) money!!!
This is the only solution....
Believe me, Greeks will support you!
Bad things are coming and more people will loose they lifes!
People are extremely angry this time... Help us!
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