Spain, Greece and Europe

[qrprat77]

There seems to be some worry about:

http://johngaltfla.com/wordpress/2012/06/14/this-could-be-the-go-time-weekend/

The summary of events which are prompting my course of action:

1. Greek elections with a distinct possibility of results that plunge the nation into chaos and even civil war. The inherent instability there is already bleeding over throughout the Balkans as other nations in the region are suffering the spillover effects of the rapid economic contraction.

2. Cyprus appears to be on the path to receiving a bailout while unification talks between “North Cyprus” or the Turkish zone appear to have broken down. If the United Nations mediator departs without an agreement and the bailout occurs, the oil and natural gas reserves discovered by the Greeks may well be used as collateral for the loans from the European Central Bank creating more friction between Greece and Turkey; especially if the election results in Greece produce a radical nationalist alliance.

3. Italy and Spain’s sudden and rapid economic collapse is impacting the banking systems throughout Europe and will ultimately hit the U.S. causing a contraction in investment and spending and a much more severe contraction/recession than 2008 as our nation’s structure to deal with this problem is far weaker than the prior collapse.

4. Egypt is on the verge of civil war and/or a military coup d’etat. The stories from the Egypt Independent this morning are alarming at best, terrifying in the implications to the region at worst:

Rights advocates challenge military powers to arrest civilians in court


Court verdict will dissolve People’s Assembly, says elections official


All that and the silence of Israel’s potential course of action towards Syria in preventing Islamic radicals OR the Assad regime from launching WMD’s against their tiny nation are of great concern, especially if Hezbollah adopts a use it or lose it approach with the defeat of the regime in Damascus.

5. ZeroHedge posted a cryptic message from the Forex trading company Oanda early this morning (see thread at ZH-”Due To The Extreme Volatility Some Market Analysts Foresee…“):

Now honestly JohnGaltFLA tends to be a lil "SKY IS FALLING" for me most of the time, but he's usually fun to read.

Now, though, there seems to be a consensus building, and it is all building toward sooner than later.

Time will tell.
COLMOLLIIN!

[1Admin]

I remember that. It was mentioned all of ONE time here in the states but I saw it on TV. I remember the commentator was basically saying that the U.S./UN arrived and Russian paratroopers were already there. TV showed a bunch of them lounging around on what appeared to be a newer BTR 60 blocking the road.

Now we have a war of words with the Syria deal. Russia's last foreign base is in Syria.

What's messed up is that you can see 4-5 scenarios developing on the economic, political front both here and overseas in short order....

[Triple-sod]

HMmmmmm. so whats greeces immigrant issue? Is it like our welfare/illegal issue where fed money is spent covering them while Americans cant afford their own?
Or will we see this come down to a bosnia/checne/yugo type flare up if they do go dragging non greeks from schools and other establishments....

could you imagine what would go down if that happened here...

A bit of both really.

From what I’ve seen this Golden Dawn, is much more racial nationalist / National Socialist rather than right-wing anti-immigration or even like the ethno/civic-nationalist parties we have in western Europe.

Certainly there’s bad blood between Greeks and their neighbours that goes back hundreds of years, they hate the Turks. I also remember seeing somewhere that there were quite a few Greek volunteers fighting with the Serbs against the Albanians during the Balkans conflict. (Both are Eastern Orthodox Christians, while the Albanians are largely Muslims.)

Most of the immigrants themselves are relatively recent arrivals, coming from Albania and Romania after the Iron Curtain came down. So we’re talking about ‘Asylum seekers’ rather than traditional economic migrants. They’re probably the two poorest countries in Europe so being on welfare in Greece is probably better than being middle class back home… Also I’d hazard a guess quite a lot of the Romanians are Roma Gypsies, who along with the Albanians have a pretty bad reputation throughout Europe.

So there’s a strong possibility it’ll get bloody, especially since that part of the world is so mixed up. Greece is like 4% Albanian but Albania is like 10% Greek, for whom there’s probably going to be repercussions if they do start dragging immigrants out of buildings in Greece. So the situation could quickly move from being domestic to international. Certainly I think Russia will be looking to flex its muscles in the region, especially since they had to kinda back down to NATO last time there was trouble there.

Funnily enough the other day I was talking to a mate who was in the Army and out there with the UN peace keepers back in the late 90’s. He told me that when they landed at this airport there were Russians up on the hill overlooking it and for some time there was a tense standoff that looked like it was going to boil over…..

[protus]

Threat of raids on Greek hospitals



This weekend vote will be very interesting....

it will carry out raids on hospitals and kindergartens and it will throw immigrants and their children out on the street so that Greeks can take their place."

HMmmmmm. so whats greeces immigrant issue? Is it like our welfare/illegal issue where fed money is spent covering them while Americans cant afford their own?
Or will we see this come down to a bosnia/checne/yugo type flare up if they do go dragging non greeks from schools and other establishments....

could you imagine what would go down if that happened here...

[Triple-sod]

Keep us appraised of any goings on in the England if you would.

Will do, for now it seems to be pretty much business as usual here.

The U.K

[JUSTIFIED]

Yep, check kiting, Ponsi scheme...call it anything one wants, but don't call it legal. The proverbial "deck of cards" will crumble.

My problem is with the uninformed, which I then inform and they think this is all okay. They just don't get it. They just don't know where all this "money" (I'm using that word loosely) is coming from. They think all of these countries have these trillions just sitting in a vault somewhere waiting to use it to bailout some poor schmuck of a country. They have their head in, uh ...., the sand.

I've given up trying to explain to folks and just turned my complete focus on preparing the family. Romney may delay the inevitable and give us more time to prepare if he wins but we're still in for a rough ride.

[Patriotic Sheepdog]

Threat of raids on Greek hospitals

[I][QUOTE]Earning loud applause at an election campaign rally in Athens, Golden Dawn MP Ilias Panagiotaros said: "If Chrysi Avgi [Golden Dawn] gets into parliament [as polls predict], it will carry out raids on hospitals and kindergartens and it will throw immigrants and their children out on the street so that Greeks can take their place."

"The situation is really critical and getting worse every day," said Dr Panaghiotis Papanikolaou, a neurosurgeon at the hospital. "There is not enough medical staff to cope and huge shortages of supplies. There's no money to even service scanners and surgical microscopes

[Patriotic Sheepdog]

Moody's downgrades Spain by three notches.

The rating lowered Spain's rating from A3 to Baa3, which leaves it in investment-grade status but just one notch above junk.

Moody's said it put Spain on review for another possible downgrade in the coming months.

Cyprus's government rating downgraded as well due to their heavy exposure to Greek banks.

The rating agency also downgraded the bond rating of Cyprus's government Wednesday by two notches to Ba3 from Ba1, sinking it further into junk-grade status on the increasing likelihood that Greece will exit the euro.

Moody's said Cyprus's rating is under review for further downgrades.

[protus]

Now now Protus.... I'm sure that means their will be NEW stories from over there. I wonder how much a maid costs over that way? Do you have to call her "lass?" As in "fix the blender lass" or "get me a Guinesss lass."

im waiting for pictures of IRA style propaganda paintings on whitewashed walls outside the local pubs to go back in fashion with every blog post he makes :P

[1Admin]

Keep us appraised of any goings on in the England if you would.

[Triple-sod]

Just seen this today;

(Reuters) - European finance officials have discussed limiting the size of withdrawals from ATM machines, imposing border checks and introducing euro zone capital controls as a worst-case scenario should Athens decide to leave the euro.

As well as limiting cash withdrawals and imposing capital controls, they have discussed the possibility of suspending the Schengen agreement, which allows for visa-free travel among 26 countries, including most of the European Union.

"Contingency planning is underway for a scenario under which Greece leaves," one of the sources, who has been involved in the conference calls, said. "Limited cash withdrawals from ATMs and limited movement of capital have been considered and analyzed."

http://www.reuters.com/article/2012/06/11/us-eurozone-greece-capital-idUSBRE85A0ZB20120611

[610Alpha]

i saw jim cramer interviewing an oil exploration exec from ireland saying they found oil off the shore over there.

http://www.cnbc.com/id/47790043

I'm not a guiness fan myself.

[1Admin]

Now now Protus.... I'm sure that means their will be NEW stories from over there. I wonder how much a maid costs over that way? Do you have to call her "lass?" As in "fix the blender lass" or "get me a Guinesss lass."

[protus]

"Give me what Spain got" is now what Ireland is telling the EU. Look for Greece to say the same thing.

please dont let them stop importing guiness :P

oh wait didnt someone just " bug out" to that AO...


we cant out run the money train as it derails,,,we can only hold on,, look at each other and go " well its been a fun ride...." and let out a rebel yell as we crash off the bridge into the ravine :P

[Patriotic Sheepdog]

This was posted at www.SurvivalBlog.com for Wednesday, June 13, 2012 by JWR

The current liquidity crisis on the southern periphery of the Eurozone now appears likely to spread to all of Europe, and then globally. There are already quiet electronic bank runs in progress in Greece and Spain. On Monday, a bank "holiday" was announced in Italy. More bank runs will likely follow. As of today, Wednesday, June 13, 2012, I strongly urge all SurvivalBlog readers to immediately draw down their checking accounts and liquidate their CDs, passbook savings accounts, and most of the their stocks to buy tangibles. If you already own a retreat, an honest one year storage food supply, and a battery of firearms with ammo and plenty of magazines, then go ahead and buy physical silver. (But don't neglect investing in those crucial "Beans, Bullets and Band-Aids" first.) With spot silver presently under $28.70, this is an ideal time to get out of paper and into tangibles.