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Menelaus
14 Aug 12 14:36
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Date Joined: 03 Feb 05
| Topic/replies: 6,745 | Blogger: Menelaus's blog
On August 20, a €3.2bn Greek bond held by the ECB matures. Greece that doesn't have money to pay suppliers for basic social services obviously doesn't have the money to pay the ECB back. If Greece openly defaults then, despite the assurances from the euro area technocrats, mayhem would ensue both economically and politically. So the ECB covertly prints and the Germans and their "hard money" satellite proponents all stay quiet.

Greece sold a little over €4bn in 13-week treasurys earlier today at 4.43pc.

Here's the mechanics: The ECB allowed Greece to sell (worthless) treasury bills with short maturities to………..drum roll please……it's own bankrupt and bailed out banks. The Greek banks now only function because of ECB largesse, with liquidity provided through an Emergency Liquidity Assistance (ELA) routed through the Greek central bank. So the Greek banks take the ELA funds with relaxed collateral requirements (there simply is not any money good collateral left), convert them into worthless Greek bonds, pledge those bonds back to the Greek central bank as collateral in exchange for……..another drum roll please…….freshly printed euros……..which the central bank of Greece prints with permission from the ECB to complete the circle jerk. So in essence the ECB, through the Greek central bank, is funding the Greek sovereign and it allows it to pay back the 3.2bn euro maturing bond. Got that?

My favourite quote throughout this entire financial crisis came from Jim Grant (Interest Rate Observer) who after watching just about every major central bank in the world engage in quantitative easing he muttered : "At this point, we really need to ask the question, what is money"

If the same question has not crossed your mind yet it's because you haven't clued in what's really going on.

More money printing coming up, here, there and just about everywhere. Count on it.

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Replies: 64
By:
maas
When: 15 Aug 12 09:28
Just numbers on a screen.
By:
madasahatter
When: 16 Aug 12 12:04
More money printing coming up, here, there and just about everywhere. Count on it.

....... so that maintains the status quo?  The merry-go-round will continue to spin and the debtor and credit mountains will continue to rise and fall - but that's another generations problem?  There is an end game, but that could be tomorrow or in a hundred years time - fudge and muddle are the order of the day.
By:
Menelaus
When: 16 Aug 12 12:25
" There is an end game, but that could be tomorrow or in a hundred years time - fudge and muddle are the order of the day."



That's a pretty wide door to go through there mate, and I would venture a guess a sign of how confusing you find everything.

And, no, money printing doesn't maintain the status quo, money printing steals from you and I and gives to the members of the banking cartel. On the other hand, perhaps that *IS* the status quo and you'd be right.

Wink
By:
Eeternaloptimist
When: 16 Aug 12 21:09
It isn't him that is confused Melly. It is you. He hits the nail on the head. The hammer could fall soon or it could be in a generation. Unless of course you want to finally pin your colours to the mast and make a prediction relating to time frames?
By:
Menelaus
When: 17 Aug 12 18:06
Still riveted to my every word on here I see. You'll have to get used to it, that's the way it will be for you from now on. Not in your wildest sick nightmares did you imagine it would be this way.

And despite of that still utterly clueless. That speaks volumes about your intellect. LaughLaughLaugh

Thanks for bringing carlos back BTW, I was starting to miss you, eeeer, I meant him.
By:
Menelaus
When: 17 Aug 12 18:09
And if you say PLEASE, I'll be more than happy to lay out a timeline for you.

Say it, it's only one word, say PLEASE.
By:
Eeternaloptimist
When: 17 Aug 12 22:01
Okay PLEASE.
By:
Eeternaloptimist
When: 17 Aug 12 22:01
That's you fecked.
By:
Menelaus
When: 17 Aug 12 23:16
Eeternaloptimist 17 Aug 12 22:01 
Okay PLEASE.


Good doggie, I knew you couldn't resist salivating at the sound of that bell. Laugh

Regards

Pavlov Devil
By:
Eeternaloptimist
When: 18 Aug 12 19:43
You need to sit down and have a good long think about which of us the above exchange makes look a complete fool. I called your bluff because I knew you were simply incapable of delivering. Your above comment simply put the cherry on top of the cake. Are your feet hurting yet?
By:
Eeternaloptimist
When: 18 Aug 12 19:45
I'll be more than happy to lay out a timeline for you.

Busted flush. Wink
By:
Menelaus
When: 19 Aug 12 11:12
First of all, you should never allow a complete stranger to lead you around like an organ grinder's dancing monkey on a leash. I understand and emphathise that you have a condition that forces you to create multiple personalities and windmills in your mind as a means of coping, but allowing yourself to be toyed in this way  makes you look totally weak and pathetic. Not even our late village idiot took the "say please" bait FFS. Laugh

Second, anyone who wants a specific date when this ends, like you seem to insist on, is a fool. Anyone who thinks this will end tomorrow is a bigger fool. And anyone who thinks this can drag on for another 100 years is an off the scale fool.

I posted several times before when I think this ends, it's just that it keeps going over the head of the fluff and no substance crowd.

Many events can trigger a collapse, the financial system is now very weakened and fragile, but in my opinion it is the bond market that will ultimately decide the timing. When real inflation can no longer be hidden, and it becomes obvious to every numbskull managing money on the bond markets that inflation is running significantly higher than the 10Yr US Treasury (there's reason why I specifically say the 10Yr but I can't be bothered to explain - way over your head, it would be a waste of time) then the jig is up. It will be the trigger to a cascade of events that render the FED powerless, and the collapse will follow quickly.

With your broad brush and 30,000 foot level understanding of economics, if you think ponzi schemes last forever, then feel free to think this may take another 100 years to end. If you think central banks have infinite power, then feel free to think this may take another 100 years to end. If you think real inflation can be hidden by clever schemes and number manipulation forever, then feel free to think this may take another 100 years to end. If you think central bankers have the ability to print oil, then feel free to think that this may take another 100 years to end.

Those who understand economics at the ground level and use a fine nib Namiki in their analysis beg to differ. Mathematics and geology is not on your side.


P.S. I've learned a lot myself every since this financial crisis started and I have advanced my thinking on a number of items. One of them is that can be no proper discussion of economic issues without giving prime consideration to OIL. I haven't gone into details here because I'm trying to dumb this down as much as I can so that you can least understand part of what I'm saying. And in closing, it would be rude of me not to ask you to say hello to carlos and chatlame for me. Wink
By:
Menelaus
When: 19 Aug 12 11:16
Get someone to help you pick yourself off the floor now and take some time off. You should feel better in a while.........but I doubt it. Devil
By:
Eeternaloptimist
When: 19 Aug 12 11:45
So how are your feet?
By:
Menelaus
When: 19 Aug 12 14:08
This is the best you can do?

Seriously, sitting in front of that keyboard all day, banging away at those keys trying to get even at this cruel life that dealt you such a rotten hand and...THIS...IS....THE....BEST....YOU...CAN....DO?

Get carlos over here FFS.

LaughLaughLaughLaughLaughLaugh
By:
Eeternaloptimist
When: 19 Aug 12 22:42
That's all I need with a chump like you. Now dance sucker.
By:
Menelaus
When: 20 Aug 12 13:41
This is it???

I just finished wiping the floor with you one more time and this is all you got?

You've really given up, haven't you?

LaughLaughLaughLaughLaughLaughLaughLaugh
By:
Eeternaloptimist
When: 20 Aug 12 23:01
Just because you think you are the king without a crown doesn't mean that everybody else doesn't think you are a dribbly knob end. I'm hardly going to fall over myself at this stage to debate with the leading window licker on the forum. Argue with a deluded idiot and how are others to differentiate the two?

One minute you promise to set out a timeline, the next you say it is foolish to make predictions on dates which makes you look rather foolish given your earlier statement. Then in an attempt to blow your other foot off you do make a specific prediction relating to timelines. Are you making a late attempt to be selected for the paralympics? Had somebody else jumped from hot coal to hot coal in this manner they would be denounced as a laughing stock. People are just bored of you.

You are more mixed up than the contents of a cocktail shaker and I have defintely shaken, stirred you and then left you waiting to be consumed. And just because I have decided to leave you hanging for a while longer you are begging me to come back.

Most unbecoming. You are way too needy. The coup de grace will be at a time of my choosing. You are merely a bit part player.
By:
Menelaus
When: 21 Aug 12 12:37
Chill mate, I was just messing with your head, a nasty bad habit I picked up from my first employer. Do you honestly think I would seriously promise anything to someone that I sincerely think suffers from psychosis and displays all the deplorable anti-social and vulgar tendencies you do?

I said jump, and you jumped, that was the whole point.

There is no other point every time you post. I can put up the most nonsensical, far off the mark, economic argument on here and you wouldn't dare debate me on the substance of what I posted because you haven't a clue whether I was right or wrong. You'll create strawmen that have nothing to do with the issue, create diversions to take attention away from your massive ignorance, pretend you are in control of your actions but debate? No. You just don't know enough to debate (at least know anything which it isn't a broad brush understanding or below the 30,000 foot level or in other words know anything that's not anecdotal knowledge), it's a simple as that.

This is the problem you are facing and that's why you are being used as a toilet bowl plunger time and again. After putting up hundreds of posts on here without a single one containing even a trace of a contribution towards economics or finance, or demonstrating a genuine understanding of unfolding events, everyone eventually clued in that you are all fluff (a very sick fluff at that - foisting carlos and chatlame on us didn't help your cause) and no substance.

Stop allowing yourself to be toyed in this way, it makes you look even more pathetic than you really are allowing a complete stranger to continue to take you to school on something you have no background and understanding.

Come to think of it, what invisible hand keeps you riveted to this forum? By your own admission you are a politics/boxing forum "member", you showed up by mistake to a ask a question one day months (and several hundred posts) ago and now you can't leave. Hmmmm, something to think about, init? Devil














































How much do you want to bet I could make you say PLEASE again?

LaughLaughLaughLaughLaughLaughLaughLaugh
By:
Eeternaloptimist
When: 21 Aug 12 12:49
I'll take that bet sucker. How about we make it interesting? Get me to say it within a week and I will leave the forum. If I don't say it then you leave. What do you say?
By:
Menelaus
When: 21 Aug 12 13:18
Feck, you're not only sick, you're naive beyond belief.
By:
Menelaus
When: 21 Aug 12 13:22
You gotta STOP salivating at the sound of those bells FFS

They are NOT real

It was ALL planted in your friggin head









Feck, I'm starting to feel guilty for contributing to your condition Cry
By:
Eeternaloptimist
When: 21 Aug 12 15:00
Gutless as well as deluded. No wonder there is nobody left here to laugh at you.
By:
Menelaus
When: 21 Aug 12 15:39
Here's the invisible hand that keeps you here, and the more I made my intentions known to you, the more blindly you responded.

It's called cognitive dissonance, look into it.

I had a harder time planting perceptions in the minds of uneducated third world peasants that I did with you. But then again they weren't stupid enough to put up 12,000 posts on a public forum picking fights, "destroying" mythical enemies and wishing others dead. In other words, they weren't stupid enough to reveal their personality disorders on a public forum.

Again, I would say "seek help" but you've already done that, haven't you, and you still are where you are. There's nothing more demoralizing than an itch you can't scratch, is there?
By:
Eeternaloptimist
When: 21 Aug 12 16:32
So are you going to find a pair or not gutless?
By:
Menelaus
When: 21 Aug 12 17:17
Say PLEASE first
By:
Menelaus
When: 21 Aug 12 17:23
Come on mate, it's only a single word, you can do it.

Say PLEASE and I promise to stop posting on here.

I promise, I'm not baiting you this time, I mean it.

Say PLEASE, and I'm outta here. Grin
By:
Eeternaloptimist
When: 21 Aug 12 17:28
You never did answer carlos' inciteful question:

Why do you spend all day on this forum giving something away for free to people who think it is worthless and that you are a complete plank when you can charge a supposed adoring public £125 each?
By:
Menelaus
When: 21 Aug 12 17:37
Wow, that was fast, did I make you wait long?

LaughLaughLaughLaughLaugh

Calm down now, let me explain.

THERE...IS....NO....CARLOS

It's ALL in your head

LaughLaughLaughLaughLaugh
By:
Eeternaloptimist
When: 21 Aug 12 17:43
I think both carlos and chatlame would beg to differ. Like I've said previously I do hope you are better at picking winners because your psy-ops is hopeless.
By:
Eeternaloptimist
When: 21 Aug 12 17:44
By the way you haven't said whether you accept the bet. Have you got any stones or not?
By:
Menelaus
When: 21 Aug 12 17:50
Sure, sure, whatever you say, just calm down and take some time. Then you can start banging on those keyboard keys again to take out all your anger.

There's has to be someone out there you could wish dead in your mind but at the moment I just can't think as to who that would be.

LaughLaughLaughLaughLaughLaughLaugh










































I'll ring a bell later when I feel like watching you dance again.
By:
Eeternaloptimist
When: 21 Aug 12 20:04
Rarely can the perception and the reality have been so divergent in an individual. You think you are the bolllocks when really you are a ballsack. Dead? Dead boring certainly. By the way the question remains:

Why do you spend all day on this forum giving something away for free to people who think it is worthless and that you are a complete plank when you can charge a supposed adoring public £125 each?

I may pop back in a few days to watch you talk to yourself. I may or may not give your chain a pull. Wait there boy.
By:
Menelaus
When: 21 Aug 12 23:33
First of all, I didn't ring a bell, you must have heard a train going by or something

Second, give me a minute to file this post in the DIVERSION file

Almost done.....

Almost done....

There !!!! Laugh



Finally, if you go back and read the posts regarding my public lectures, preferably very early in the morning before your uncontrollable rage sets in and takes over everything you do for the rest of the day, you'll notice that the admission price ALL goes to charity, not me. I even pay for catering in tea/coffee and sandwiches for the break out of my own pocket. The LSE provides the facilities at no charge. Trust me, my wheeelchair friend, life is very unfair, dealing some like you such a rotten hand, and others like me all the aces. Oh well, that's the way it is.

Get someone to push you to London on of these days, you may find the experience very interesting. Not exactly life changing, sadly there's no one out there that can help you with that, by very interesting nonetheless. I'll donate the £125 to charity on your behalf.
By:
Menelaus
When: 22 Aug 12 00:09
Allow me an afterthought.

No one is smart enough to pull a con on anyone who can fog a mirror on here, least of all you.

Quite a coincidence that YOU and carlos BOTH missed the money goes to charity fact. First carlos asked that stupid question, I ignored your alter ego like I usually do, but low and behold you had to repeat it several times again under your other forum persona. Two supposedly different posters making yet again an identical mistake.

U can ch'ge the way u rite but u can't ch'ge the way u think.

And quite frankly I'm getting a little tired of washing the floor with a psychopathic cretin like you, there's no challenge. You need to change the routine, this one is starting to stink to high heaven.
By:
chatlame
When: 22 Aug 12 21:58
Before Roxette, after gay: http://www.youtube.com/watch?feature=endscreen&NR=1&v=M52ESJaNzN4
By:
Menelaus
When: 23 Aug 12 15:16
Thoughts creep into your dreams
Messing with your head
But no one hears your screams
You can't escape

"I can pull is off"
You tell yourself again and again
You don't realize how stupid you are
That you're just going insane

And I'll just keep playing this game
Over and over and over again
Until every single thought in your head
Is only me

It's only me messing with you
And you've lost all reason
Wait till that moment comes
When you realize you are indeed insane
By:
FINE AS FROG HAIR
When: 23 Aug 12 20:04
There is only one psychopath on here, and it certainly isn't EO.
By:
Eeternaloptimist
When: 23 Aug 12 22:48
You do have to wonder about the mentality of someone persisting with a line of attack regarding disability particularly given my assertion about caring for a disabled wife. Of course you can't take anything as gospel on an anonymous forum but anyone with any sense of decorum would pause for thought and play safe just in case.

Not meltdown Melly.
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