Socio-Economics History Blog

Socio-Economics & History Commentary

Has The Greek Bank Run Started?

Illuminists are lining up the dominoes for a collapse of the Eurozone!

  • The Illuminist plan is to collapse the current financial and monetary system and introduce their One World Currency backed by gold. They do not want Greece or any of the PIIGS to abandon the Euro and return to their national currencies: Drachma, Lira … etc. It will make it even harder for them to get these nations on board the One World Currency once they return to their national currencies. So keep an eye on developments in Greece and the PIIGS. As these nations get closer and closer to the abandonment of the Euro, the Illuminists will pull the trigger to collapse the Euro and set off the chain of events leading to the global economic, financial and monetary meltdown.
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  • The derivatives market is being set up to detonate with the revelation of JP Morgue’s US$2B loss. The success of the BRICS in setting up an alternative to the USD for international trade settlement, trading of oil and an alternative to the western Illuminist SWIFT system means the western Illuminati will take drastic actions to defend their global hegemony ie. pulling the trigger on the current system/order to destroy their enemies –> global economic, financial and currency meltdown. The western Illuminati will not allow any currency, for eg. the Chines Yuan, to threaten their global monetary hegemony. All fiat currencies will be attacked via currency debasement leading to hyperinflation.
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    Has The Greek Bank Run Started? 
    by Tyler Durden, http://www.zerohedge.com/ 
    While the long-term decline in bank deposits over the past 3 years has been well documented both on Zero Hedge and elsewhere, it is the most recent, acute post-election phase that has not gotten much coverage. Minutes ago Bloomberg sent out a notice that things in Greece may be on the verge of the final collapse. From Bloomberg: “Anxious Greeks have withdrawn as much as 700 million euros ($893 million) from the nation’s banks since the inconclusive May 6 election, President Karolos Papoulias told party leaders yesterday, according to a transcript of the meeting posted on the presidency’s website today.
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    Papoulias said he got the information from the head of the Bank of Greece, the central bank, George Provopoulos, according to the transcript.” While this was likely a negotiation talking point to facilitate the formation of the government, the reality as we now know is that there has been NO government formed, which now means that the bank run will only get worse. Needless to say, a Greek banking system which is now virtually shut out of any external funding except for the ELA, where it has a few billions euros in access left, will be unable to deal with hundreds of millions in deposit outflows.

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    This may be the beginning of the end for Greece, just as Buiter and later JPM warned over the weekend.

end

May 16, 2012 - Posted by | Economics | , , , , , , , , , , ,

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