Hi Everybody,
What the? Did the Euro banks just agree to lose 50% of their Greek
investments?
http://english.aljazeera.net/video/europe/2011/10/2011102721452285198.html
--
Regards,
Pete
http://elect-pete-theisen.com/
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This is a real mess. It has to be voluntary so no one knows for sure if the
banks will go along. I am just getting snippets from the news and probably
have it wrong but here is my take for now:
The French and Germans are going to establish a fund of something like 200M
Euros as a guarantee to future bank bond holders. (I am not sure how this
works.) Then they will set up another imaginary fund of trillion dollars
(Euros?) that will sell bonds to capitalize it. The Germans, French and,
they hope, the Chinese will buy these bonds. The Germans and French will
issue debt to buy their share. Then this fund will buy Greece bonds. In
other words they are creating a hot air balloon out of nothing. The
leveraging will be so incredibly high it makes Madoff look like a piker. It
looks like some kind of Ponzi scheme to me. If you or I were to do this, we
would be going to jail.
I am not sure I got the explanation above right but the gist is that the
leveraging will be 1000 times or more. After 10 years Greece's debt will
drop to 125% of their GDP. In other words it isn't going to happen. With all
the austerity plans that must be put in place, Greece's GNP will be
contracting as well as suffering continued unemployment.
----- Original Message -----
From: "Pete Theisen" <petetheisen@verizon.net>
To: "ProFox Email List" <profox@leafe.com>
Sent: Thursday, October 27, 2011 1:40 AM
Subject: [OT] 50% haircut
> Hi Everybody,
>
> What the? Did the Euro banks just agree to lose 50% of their Greek
> investments?
>
> http://english.aljazeera.net/video/europe/2011/10/2011102721452285198.html
> --
> Regards,
>
> Pete
> http://elect-pete-theisen.com/
>
[excessive quoting removed by server]
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On 10/27/2011 09:52 AM, Nicholas Geti wrote:
> This is a real mess. It has to be voluntary so no one knows for sure if the
> banks will go along. I am just getting snippets from the news and probably
> have it wrong but here is my take for now:
>
> The French and Germans are going to establish a fund of something like 200M
> Euros as a guarantee to future bank bond holders. (I am not sure how this
> works.) Then they will set up another imaginary fund of trillion dollars
> (Euros?) that will sell bonds to capitalize it. The Germans, French and,
> they hope, the Chinese will buy these bonds. The Germans and French will
> issue debt to buy their share. Then this fund will buy Greece bonds. In
> other words they are creating a hot air balloon out of nothing. The
> leveraging will be so incredibly high it makes Madoff look like a piker. It
> looks like some kind of Ponzi scheme to me. If you or I were to do this, we
> would be going to jail.
>
> I am not sure I got the explanation above right but the gist is that the
> leveraging will be 1000 times or more. After 10 years Greece's debt will
> drop to 125% of their GDP. In other words it isn't going to happen. With all
> the austerity plans that must be put in place, Greece's GNP will be
> contracting as well as suffering continued unemployment.
>
This sounds a little like how the Federal Reserve operates. When the
economy is growing and demands for loans are high, the Federal Reserve
loans money to regular banks at the prime interest rate. The regular
banks in turn loan the money to their customers at rates higher, but
relative to the prime. This is one way in which money is created, but
if the economy get to hot, inflation follows.
Also, the Federal Reserve will horror checks issued by the USA
government, even when the USA's account is in the red, (eg deficit
spending). This also create money as the USA national debt increases,
and the Federal Reserve's due from the USA grows. If excessive, this
also can lead to inflation.
Regards,
LelandJ
> ----- Original Message -----
> From: "Pete Theisen"<petetheisen@verizon.net>
> To: "ProFox Email List"<profox@leafe.com>
> Sent: Thursday, October 27, 2011 1:40 AM
> Subject: [OT] 50% haircut
>
>
>> Hi Everybody,
>>
>> What the? Did the Euro banks just agree to lose 50% of their Greek
>> investments?
>>
>> http://english.aljazeera.net/video/europe/2011/10/2011102721452285198.html
>> --
>> Regards,
>>
>> Pete
>> http://elect-pete-theisen.com/
>>
[excessive quoting removed by server]
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I think he has dyslexia.
----- Original Message -----
From: "Pete Theisen" <petetheisen@verizon.net>
To: "ProFox Email List" <profox@leafe.com>
Sent: Thursday, October 27, 2011 5:03 PM
Subject: Re: [OT] 50% haircut
>>
>> Also, the Federal Reserve will horror checks
>
> Hi Leland,
>
> We certainly need horror checks. Especially come Monday night.
> --
> Regards,
>
> Pete
> http://elect-pete-theisen.com/
>
[excessive quoting removed by server]
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lelandj wrote:
> On 10/27/2011 09:52 AM, Nicholas Geti wrote:
>> This is a real mess. It has to be voluntary so no one knows for sure if the
>> banks will go along. I am just getting snippets from the news and probably
>> have it wrong but here is my take for now:
>>
>> The French and Germans are going to establish a fund of something like 200M
>> Euros as a guarantee to future bank bond holders. (I am not sure how this
>> works.) Then they will set up another imaginary fund of trillion dollars
>> (Euros?) that will sell bonds to capitalize it. The Germans, French and,
>> they hope, the Chinese will buy these bonds. The Germans and French will
>> issue debt to buy their share. Then this fund will buy Greece bonds. In
>> other words they are creating a hot air balloon out of nothing. The
>> leveraging will be so incredibly high it makes Madoff look like a piker. It
>> looks like some kind of Ponzi scheme to me. If you or I were to do this, we
>> would be going to jail.
>>
>> I am not sure I got the explanation above right but the gist is that the
>> leveraging will be 1000 times or more. After 10 years Greece's debt will
>> drop to 125% of their GDP. In other words it isn't going to happen. With all
>> the austerity plans that must be put in place, Greece's GNP will be
>> contracting as well as suffering continued unemployment.
>>
>
> This sounds a little like how the Federal Reserve operates. When the
> economy is growing and demands for loans are high, the Federal Reserve
> loans money to regular banks at the prime interest rate. The regular
> banks in turn loan the money to their customers at rates higher, but
> relative to the prime. This is one way in which money is created, but
> if the economy get to hot, inflation follows.
>
> Also, the Federal Reserve will horror checks
Hi Leland,
We certainly need horror checks. Especially come Monday night.
--
Regards,
Pete
http://elect-pete-theisen.com/
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On 10/27/2011 04:03 PM, Pete Theisen wrote:
> lelandj wrote:
>> On 10/27/2011 09:52 AM, Nicholas Geti wrote:
>>> This is a real mess. It has to be voluntary so no one knows for sure if the
>>> banks will go along. I am just getting snippets from the news and probably
>>> have it wrong but here is my take for now:
>>>
>>> The French and Germans are going to establish a fund of something like 200M
>>> Euros as a guarantee to future bank bond holders. (I am not sure how this
>>> works.) Then they will set up another imaginary fund of trillion dollars
>>> (Euros?) that will sell bonds to capitalize it. The Germans, French and,
>>> they hope, the Chinese will buy these bonds. The Germans and French will
>>> issue debt to buy their share. Then this fund will buy Greece bonds. In
>>> other words they are creating a hot air balloon out of nothing. The
>>> leveraging will be so incredibly high it makes Madoff look like a piker. It
>>> looks like some kind of Ponzi scheme to me. If you or I were to do this, we
>>> would be going to jail.
>>>
>>> I am not sure I got the explanation above right but the gist is that the
>>> leveraging will be 1000 times or more. After 10 years Greece's debt will
>>> drop to 125% of their GDP. In other words it isn't going to happen. With all
>>> the austerity plans that must be put in place, Greece's GNP will be
>>> contracting as well as suffering continued unemployment.
>>>
>> This sounds a little like how the Federal Reserve operates. When the
>> economy is growing and demands for loans are high, the Federal Reserve
>> loans money to regular banks at the prime interest rate. The regular
>> banks in turn loan the money to their customers at rates higher, but
>> relative to the prime. This is one way in which money is created, but
>> if the economy get to hot, inflation follows.
>>
>> Also, the Federal Reserve will horror checks
> Hi Leland,
>
> We certainly need horror checks. Especially come Monday night.
Well, my spell checker didn't like "honor", so I change it to horror,
but I really don't know why. LOL
Regards,
LelandJ
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Nicholas Geti wrote:
> I think he has dyslexia.
Hi Nicholas,
When you think of the hundreds of millions he has made with his FoxPro
accounting program he is still using that $8 spell checker.
He needs to get the integrated grammar and composition checker, which is $9.
>>> Also, the Federal Reserve will horror checks
>> We certainly need horror checks. Especially come Monday night.
--
Regards,
Pete
http://elect-pete-theisen.com/
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On 10/27/2011 04:19 PM, Pete Theisen wrote:
> Nicholas Geti wrote:
>> I think he has dyslexia.
> Hi Nicholas,
>
> When you think of the hundreds of millions he has made with his FoxPro
> accounting program he is still using that $8 spell checker.
You had better check your source of information on that, or re-add your
figures. LOL
Regards,
LelandJ
> He needs to get the integrated grammar and composition checker, which is $9.
>
>>>> Also, the Federal Reserve will horror checks
>>> We certainly need horror checks. Especially come Monday night.
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lelandj wrote:
> On 10/27/2011 04:03 PM, Pete Theisen wrote:
>> lelandj wrote:
>>> Also, the Federal Reserve will horror checks
>> We certainly need horror checks. Especially come Monday night.
>
> Well, my spell checker didn't like "honor", so I change it to horror,
> but I really don't know why. LOL
Hi Leland,
You have your preference set to UK English? Open a window and try
"honour" . . .
Maybe you have Rocky Horror checks in your checkbook?
--
Regards,
Pete
http://elect-pete-theisen.com/
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lelandj wrote:
> On 10/27/2011 04:19 PM, Pete Theisen wrote:
>> Nicholas Geti wrote:
>>> I think he has dyslexia.
>> Hi Nicholas,
>>
>> When you think of the hundreds of millions he has made with his FoxPro
>> accounting program he is still using that $8 spell checker.
>
> You had better check your source of information on that, or re-add your
> figures. LOL
Hi Leland,
It is the net worth theory, base on your wife's garage sale purchases . . .
>> He needs to get the integrated grammar and composition checker, which is $9.
>>
>>>>> Also, the Federal Reserve will horror checks
>>>> We certainly need horror checks. Especially come Monday night.
--
Regards,
Pete
http://elect-pete-theisen.com/
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