It's 2AM...and Greeks are lining up at ATMs

It's 2 In The Morning And Greeks Are Lining Up At ATMs; Alpha Limits Online Banking

From the article, it looks as though twitter is abuzz with pictures of Greeks lined up at the ATMs and at least one bank has limited online banking. People seem to be twitchy now that the PM has called for the referendum.

If I recall correctly, Greece has about a week to come up with the billions that they owe this month and put off the payment until the end of the month, so it looks as if things are quite dire as of now.

a reply to: AnIntellectualRedneck

Doesn't Disney alone owe Greece like Billions of dollars after all the money they made off Hercules?

a reply to: AnIntellectualRedneck

If I lived in Greece, I'd get my money out too. They are going under fast and the people are the ones who will feel the pain, the bankers and politicians will roll on in luxury as usual.

a reply to: Thorneblood

Funny you mention that.

Greece has already hinted that they are owed the money from WW2 Reparations. Then they will tell Italy they are owed for Roman occupation. I think they will try to hammer anyone for a drachma soon.

I would not be surprised that they want payment from everyone who has ever used a Greek myth character in anything if they can get it. The Socialist have run out of other peoples money to blow on their lifestyle and I doubt the EU is going to just pay them to retire at 35 with fat pensions the rest of their lives because they are Greece.

I wasn't that concerned about the China "crash" but this has raised an eyebrow. Will be watching to see how this unfolds.

a reply to: infolurker

I actually assumed that was why we bailed them out the first time around......sort of an apology for ripping off their culture and religion to everyone elses benefit for the last fifty or so years of media.

I think this could happen worldwide soon.

a reply to: AnIntellectualRedneck

Coordinated attack from the Chinese and Hreece on the euro?

Best investment the scamsters behind the EU common currency ever made. They know exactly what they were doing the whole time.

An example of microcosm would be the bank foreclosing on the family home because loan payments can't be kept up.

The mortgage was a few hundred thousand, the value of the property a million. The bankers invested that money hoping the loan would fail so hey could foreclose, collect all the loan payments to date and the property and house, too.

Same with Greece, they can't pay back the loan, the EU banksters start carving up the best real estate for themselves.

This is what banks that make loans to nations dream of, a whole country, ripe for the picking.

The EU banks own the land and the people eternally in debt servitude…

How austere…

“‘Since the 1974 invasion of Cyprus, Greece has spent 216 billion euro on armaments,’” said Katerina Tsoukala, a Brussels-based security expert.” (Guardian) This amount is far larger than the Greek debt at the time the 2008 capitalist crisis hit. The purchases included German submarines, Mirage fighter jets from France and F-16 jets from the U.S. and 1,300 tanks.

Source

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I guess they didn`t learn their lesson the first time. In America if the banks ever confiscate the depositors money they might as well just shut all the banks down because NOBODY would ever trust a bank again with their money,there would be NO more deposits, EVER.

Maybe Greece should just declare the debt null and also declare their currency null, nationalize all public services tell people to barter and grow their own food while a new currency is made and if someone wants to take something from them, remember the great Spartan soldiers "Come and get them..."

originally posted by: infolurker
a reply to: Thorneblood

The Socialist have run out of other peoples money to blow on their lifestyle and I doubt the EU is going to just pay them to retire at 35 with fat pensions the rest of their lives because they are Greece.

Funny you mention that... lol

Of course they expect to retire at 35 on fat pensions, Greece is after all the birthplace of Dumbocracy ;-)

Cheers - Dave

a reply to: AnIntellectualRedneck

ATM's??? Why do these people keep putting their money in banks??? Didn't they learn the first time when the banks took their money that maybe banks aren't such a good idea???

Well Greece only gets more debt from western bankers and Russia lends a hand for some small stimulus.
Russian pipeline project to help Greece pay its debt

Can Greece become similar to Iceland, I somewhat doubt it but what will happen if they do leave the Euro and succeed, will other struggling countries follow?

a reply to: intrptr

The problem is that the money that bailed Greece out didn't exist in the first place. Overexposure is ok when the interest comes in . The trouble starts when they try wringing it from a stone. If a bank is to big to fail, then how about a country.?

a reply to: mOjOm

Why do these people keep putting their money in banks???

Where do you put yours? What financial institution is safer than a bank?

originally posted by: Astyanax

Where do you put yours? What financial institution is safer than a bank?

In my wallet. But then again I'm also "lucky" enough not to have so much money that I need an institution to manage it for me.

If I did have more money than I could manage myself however, I would most likely still not give it over to a bank the way things are with the economy these days and because of the annoying ways in which banks like to nickel and dime you to death. The value of money is becoming very unreliable as people lose faith in it. I would convert it to something else more real like property, gold, stored consumables for rough times ahead or simply spend it while I or others can still enjoy it.

That last one has contributed quite a lot to why I don't have enough now actually.

a reply to: intrptr

But did the common working person of Greece have anything to do with the debt accumulation? they were not asked to agree to any level of indebtedness. Just like any one of us in the other Western countries . If I had nothing to do with the debt accumulation, I am certainly not going to endorse any measures that require me to pay the debt off. I want to live in a happy country, where I have a life, and I also want my fellow citizens to have the same . Not to be saddled with debt, that I have to accrue, to garner just the mere basics of life, which makes me no longer free, but a debt slave, in the control system. A reasonable eight hours for reasonable days pay, with job security. Would just about make unemployment history, remember the push now is for a twelve hour plus day. The four hours should be done by someone else, if a third of the population was unemployed ,that alone would , cause full employment. It isn't difficult to see that, some idiot has set the system to cause a required amount of unemployment to keep the dogs lean and hungry. Which suits them just fine.

a reply to: mOjOm

ME: Where do you put (your money)?

YOU: In my wallet.

How do you stop your savings losing their value through inflation? Or have you no savings?