Finance leaders from the Group of 20, meeting in Mexico City this weekend, are trying to build up massive international resources by the end of April. They are demanding that Fourth Reich build up its war chest first and then other G20 countries would contribute extra money to IMF. The plan is to merge Fourth Reich's temporary and permanent bailout funds, EFSF and ESM, to create one 750 billion-euro ($1 trillion) fund.
Wolfgang Schaeuble is worried that the root causes of Fourth Reich's problems have not been tackled sufficiently and will not shift in course on issues such as common euro zone bonds as well as bigger bailout funds. Olli Rehn declares that in order to overcome the crisis, you have to get ahead of the curve and have a big enough bazooka. A deal is unlikely to come in time for a summit of Fourth Reich leaders next week which could nonetheless reveal some flexibility by Merkel.
Eurozone paymaster Germany ratchets up the pressure on Graecokleptocrats, saying Fourth Reich needs action, not words. Schaeuble declares promises of Graecokleptocrats on reform are no longer good enough, because so many vows have been broken and the country, which has been a bottomless pit, has to dramatically change its ways. Schaeuble cannot understand why Graecokleptocrats add insult to injury.
Blogbusters galore! Freak! Freak! Freak! The freakish government of Greece, the most corrupt country in Occident, steals computers! Robbing dissident bloggers and locking them in jail is a freakish behavior that does not belong to the European Union, not even to this galaxy! No wonder some vain Greeks boast they come from Andromeda galaxy!
Germany appears to be playing for time. It faces a critical vote on Monday to win support in the German parliament for Greece's second bailout. Bundestag, Bundesrat, Bundesbank, and Karlsruhe resent squandering German taxpayers' hard-earned money for bankrupt Graecokleptocrats. Especially, Vice-Chancellor Philipp Roesler and Foreign Minister Guido Westerwelle are smart libertarians, and they cannot be hoodwinked by Graecokleptocrats.
Similar votes are scheduled in the Netherlands and Finland next week. Europeans are sick and tired of hoodwinks and dirty games of Graecokleptocrats, blogbusters who violate the Lisbon Treaty. Sarko says Graecokleptocrats are crazy and depressed! Graecokleptocrats are haggling aboard Titanic in the ocean of Greek indignation. Graecokleptocrats should be hanged in front of the Grand Brothel on Syntagma Square.
Germany wants to see whether enough investors sign up for Greece's debt swap. Hedge funds, pissed off by my persecution, refuse to accept any haircut on Greek government bonds of blogbusters. Bondholders are hoodwinked to give up some 100 billion euros of their investment in the pseudovoluntary bond swap, but hedge funds will not participate, case closed, pure and simple. But ratcheting up pressure on hedge funds, Premier Papademos introduced legislation forcing creditors to take losses on their holdings.
One way to force hedge funds came by way of the Grand Brothel on Syntagma Square. It passed legislation forcing private lenders to accept a debt reduction. Fourth Reich and IMF were desperate to avoid passage of such a law, which is a declaration of a disorderly default.
A sensitive issue cannot be fully explained in a post, but only in a speech, in that magic eyeball to eyeball contact, baring my soul, and declaring truths that cause shock and awe. That's why I look forward to the invitation of your organization to speak at your conference. Basil Venitis, venitis@gmail.com
Policymakers say they are hopeful that putting in place a strong firewall around the four PIGS would help strengthen the world economy. The three largest credit rating agencies (CRA) – Moody's, Standard & Poor's, Fitch – are ready to downgrade the four PIGS again. PIGS have been spending more than they've earned for decades. But the Germans have enjoyed particularly good earnings from the profligacy of PIGS. Cohesion policy is a socialistic scheme to rob hard-working Northern Europeans to give lazy pigsizens. But Northern Europeans resent supporting the dolce vita of pigsizens.
All pigsizens demand dolce vita, all evade and avoid taxes, all hate government, and many respect omerta. Pigsizens prefer to detach themselves from reality. One can do that for a while, but now the capital markets are suggesting those days are over. Either you face up to
reality or you will be punished.
Northern Fourthreichians have the strong suspicion that some of their hard work
is going down the drain with the hundreds of billions that are currently
disappearing into aid packages and bailout funds for PIGS, lived well at the
expense of others, and that those who were more careful with their money are now
expected to swallow the poison that is making its way northward.
What PIGS are experiencing at the moment is a shock and awe. But it was also
overdue. PIGS are not innocent when it comes to their decline. But providing
PIGS with extended maturities and lower interest rates is in no way a true
solution. PIGS need restructured debt in order to have a little breathing room.
http://venitism.blogspot.com
The fundamental problem is that politicians believe that markets react in panic, in other words, irrationally. But that's not true. The capital markets aren't children who can simply be quieted down. Investors look at the figures and can see that PIGS are going bankrupt.
Smart words are more effective than smart bombs! Mighty words of a charismatic keynote speaker can transform your people to a new dimension of organizational climate, efficiency, self-actualization, enthusiasm, belonging, and motivation. I would like very much to speak at your conference in order to explain critical points much further. Basil Venitis, venitis@gmail.com
Markets are more rational than politicians. Punishing PIGS is a rational thing
to do. There are people who have invested their money there and have now
determined that the investment is no longer secure, so they are pulling out. In
addition, there are players who have taken notice that the yields are rising and
they are betting on that. That's the snowball effect which we are now seeing. It
is not based on panic, but rather on totally rational appraisals.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.