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September 24, 2017, 10:45:16 pm Psalm 51:17 says: The specific rule pertaining to the national anthem is found on pages A62-63 of the league rulebook. It states: “The National Anthem must be played prior to every NFL game, and all players must be on the sideline for the National Anthem. “During the National Anthem, players on the field and bench area should stand at attention, face the flag, hold helmets in their left hand, and refrain from talking. The home team should ensure that the American flag is in good condition. It should be pointed out to players and coaches that we continue to be judged by the public in this area of respect for the flag and our country. Failure to be on the field by the start of the National Anthem may result in discipline, such as fines, suspensions, and/or the forfeiture of draft choice(s) for violations of the above, including first offenses.”
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http://www.naturalnews.com/2017-08-11-new-fda-approved-hepatitis-b-vaccine-found-to-increase-heart-attack-risk-by-700.html
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September 11, 2017, 06:59:33 am Psalm 51:17 says: The law of reaping and sowing. It's amazing how God's mercy and longsuffering has hovered over America so long. (ie, the infrastructure is very bad here b/c for many years, they were grossly underspent on. 1st Tim 6:10, the god of materialism has its roots firmly in the West) And remember once upon a time ago when shacking up b/w straight couples drew shock awe?

Exodus 20:5  Thou shalt not bow down thyself to them, nor serve them: for I the LORD thy God am a jealous God, visiting the iniquity of the fathers upon the children unto the third and fourth generation of them that hate me;
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« Reply #150 on: February 17, 2012, 01:07:54 pm »

Greek 1 Year At 629%, Biggest One Day Jump In Yield Ever
17 February 2012, by Tyler Durden (Zero Hedge)
http://www.zerohedge.com/news/greek-1-year-629-biggest-one-day-jump-yield-ever

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« Reply #151 on: February 17, 2012, 01:09:10 pm »

Report: Insider Documents Detail a March 23 Greek Default Plan; Gov to Freeze Bank Accounts, Eliminate Euro, Restrict Capital Flow
17 February 2012, by Mac Slavo (SHTFplan)
http://www.shtfplan.com/headline-news/breaking-report-insider-documents-detail-a-march-23-greek-default-plan-gov-to-freeze-bank-accounts-eliminate-euro-restrict-capital-flow_02162012
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« Reply #152 on: February 18, 2012, 11:38:21 pm »

We will see - seems to be the same story every day for the last 3 weeks. One day, it's gridlocked, the next day, they are "close"...only to get back to square 1. And each time they come "close" agreeing to more cuts, the EU/ECB end up wanting more control, and then back to square 1 they go.

2/18/12

ATHENS (Reuters) - Greece's cabinet on Saturday approved a final set of austerity measures sought by the EU and IMF as a condition for a 130-billion euro ($171 billion) rescue package, raising the chances of a deal next week to avert a chaotic default on its debt.
 
The approval was largely a formality after Athens last week unveiled details of the extra budget and public sector wage cuts worth 325 million euros to euro zone partners.
 
Lingering doubts over whether Greece can bring its mountain of debt down to more manageable levels in coming years could still hold up the rescue package. Some officials in the 17-nation currency union warn chances of a deal at a euro zone meeting on Monday are little higher than 50-50.
 
"The 325 million euros worth of measures were approved unanimously," said one minister, speaking on condition of anonymity, about the cuts, part of a 3.3-billion-euro package of austerity measures that have triggered riots in Athens.

http://news.yahoo.com/greek-cabinet-backs-extra-austerity-measures-012252356.html
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« Reply #153 on: February 18, 2012, 11:41:23 pm »

^^^

Also, the DOW is only 50 points shy of 13K...no wonder why there's so much "good news" over the weekend, investors obviously still keep up with the news.
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« Reply #154 on: February 18, 2012, 11:53:42 pm »

ATHENS (Reuters) - Greece's cabinet agreed on Saturday to launch a debt swap for private creditors on March 8 with the aim of completing it by March 11, a government official said.
 
The swap is to accompany a $130 billion rescue package that Athens hopes to agree with its euro zone partners on Monday and will mean that creditors take a 70 percent cut in the real value of their holdings.
 
(Reporting by George Georgiopoulis; Writing by Mark John)

http://news.yahoo.com/greece-targets-debt-swap-march-8-govt-180710183.html
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« Reply #155 on: February 19, 2012, 06:57:09 am »

2/19/12

ATHENS, Greece (AP) -- The Greek parliament is set to vote on emergency austerity measures next week necessary for a euro130-billion ($170- billion) bailout deal with the EU and IMF to avoid default.

The legislation — a package of wage and pension cuts and on health sector reforms — was approved in a marathon Cabinet meeting that began Saturday afternoon and dragged into early Sunday. It must still be approved by Parliament.

Prime Minister Lucas Papademos says the measures will be permanent.

He says it is necessary to introduce them on Monday to convince the Eurogroup finance ministers convening the same day that Greece is determined to move along with reforms. The measures must be implemented over the next three weeks.

A small group of union members protested outside Parliament on Sunday without incident.

http://finance.yahoo.com/news/greece-moves-reform-legislation-122456010.html
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« Reply #156 on: February 19, 2012, 07:36:39 am »

http://news.yahoo.com/greek-cabinet-backs-extra-austerity-measures-012252356.html

2/19/12

ATHENS (Reuters) - Riot police shielded Greece's national parliament Sunday as demonstrators gathered to protest against austerity measures on the eve of talks in Brussels on a 130-billion-euro ($171 billion) bailout needed to avert bankruptcy.
 
Hopes for a deal at the meeting of euro zone finance ministers have risen after Athens last week detailed new budget cuts. But skeptics, led by Germany, are wary about Greece's determination to shrink its debt mountain.
 
Only a few hundred protesters had assembled outside the national parliament by early afternoon but authorities are on guard after demonstrations last Sunday degenerated into looting and torching of buildings in central Athens.
 
"Maybe some people are scared after last week's rioting," said retired state electricity worker Costas Xenakis.

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« Reply #157 on: February 19, 2012, 01:19:03 pm »

http://news.yahoo.com/greece-primed-2nd-bailout-package-financing-gaps-remain-164035361.html;_ylt=AlOmOMVzDSDU7TMwua4bObEbANEA;_ylu=X3oDMTRvNm9oMml0BGNjb2RlA2dtcHRvcDEwMDBwb29sd2lraXVwcmVzdARtaXQDTmV3cyBmb3IgeW91BHBrZwNlN2RkNzc5My0wZmYzLTM5MzgtYmViMy0xMzBmOWI1OGNmM2MEcG9zAzIEc2VjA25ld3NfZm9yX3lvdQR2ZXIDYTk4MGY4OTAtNWIxOC0xMWUxLWI5YjctZTcwNjY1YmMxOTM2;_ylg=X3oDMTA1bmkzZDc4BHRlc3QD;_ylv=3

2/19/12

* Euro zone ministers expected to approve 2nd Greek package
 
* Monday meeting to focus on Greece's debt sustainability
 
* Still financing gaps to be filled to get numbers lined up
 
* Greek debt-to-GDP must fall to around 120 pct by 2020

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« Reply #158 on: February 19, 2012, 01:23:08 pm »

^^^(from article above)

Already there is concern that at the first review of the new program - if it is approved on Monday - Greece will be found to be behind, especially if GDP continues to slump.
 
That will again raise the threat of the country having to default if it cannot meet its obligations, and invite questions about its ability to remain in the euro zone.
 
And even Greece can meet its targets, there will still be concerns about Portugal, Spain and Italy, none of which is out of the woods yet.

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« Reply #159 on: February 19, 2012, 03:17:44 pm »

The ECB Has Opened Pandora’s Box
19 February 2012, by Mark Grant, author of "Out of the Box and onto Wall Street" (Zero Hedge)
http://www.zerohedge.com/news/ecb-has-opened-pandora%E2%80%99s-box

Excerpt:

The ECB, on its own and without judicial or parliamentary review, has swapped their Greek debt for new Greek debt that is not subject to any “collective action clause.”

They did this unilaterally and without the consent of any other sovereign debt bond owners of Greek debt.

They did this without objection of any nation in Europe.

They have retroactively changed the indenture, the contract made by Greece with all of the buyers of their bonds, when the debt was issued.

There is no speculation involved in these statements, there is no longer any guesswork on what might be; the ECB swapped their bonds for new Greek bonds with the assent of the Greek government and it is now a done deal

----

Since the ECB can now retroactively change any bond contract to whatever it likes and with any nation in its dominion then the valuation of European sovereign debt must be re-examined for what it really is which is no longer what anyone previously thought.

Starkly put; the bonds issued by the sovereign nations in Europe are no longer pari passu, on equal footing, with the bonds issued in the United States.

We have just passed a clearly defined “break point” where the legal rules were changed to the great disadvantage of all the private debt holders.

The risk of ownership of European sovereign debt is now infinitely more dangerous in my estimation than it was last week.

We still do not know if the IMF will demand and receive the same special treatment but I assert that it no longer matters.

The actions of the European Central Bank are all that was necessary to radically alter the value of European sovereign debt and it is just not me but any number of large financial institutions that are in shock given what has happened with one of the largest and most respected bond investors in the world telling me that “financial repression is the softer word for it.”
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« Reply #160 on: February 19, 2012, 04:15:45 pm »

^^^

Didn't understand what the above article is saying, however "Letsbereal" from PPF explains it very clearly...

Quote
From what I understand is that private bondholders are forced to take losses while the ECB itself does not. The result from that would be that all trust in these bonds are lost and the private sector will not buy any bonds anymore since they are unprotected.

Frankly I don't know if that realy matters since if the private bondholders dissapear from the stage it will be the special created 'vehicles' or proxies who buy up all the bonds like what's happening in the U.S..

Most of U.S. debt is bought up by the U.S. itself via proxies and the same is happening in Europe. The FED has been able to keep the rates on government bonds at ultra low levels this way but for how long?

Lindsey Willams was told by his elite source that once the U.S. starts buying up it's own debt the dollar is done with but not over night obviously.
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« Reply #161 on: February 19, 2012, 06:29:08 pm »

Here's Why An ECB Debt Swap Could Screw Everyone But The ECB
17 February 2012, by Mamta Badkar (Business Insider)
http://www.businessinsider.com/heres-how-we-know-the-ecb-thinks-its-better-than-private-sector-bond-holders-2012-2
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« Reply #162 on: February 19, 2012, 08:33:44 pm »

2/19/12

US Treasury Secretary Timothy Geithner on Sunday threw Washington's support behind the new austerity measures agreed by Greece and said the US backed the idea of a new IMF loan for Athens.
 
"We welcome the program of economic reforms agreed to by the prime minister of Greece and the coalition parties, and the public statement of support from the major economies of Europe," Geithner said in a statement.
 
"This is a very strong and very difficult package of reforms, deserving of support of the international community and the IMF. The United States will encourage the IMF to support this agreement."
 
The Greek parliament has approved a series of measures worth 3.2 billion euros in return for a second bailout deal that would write off 100 billion euros of debt and provide a loan of 130 billion euros to Greece.

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http://news.yahoo.com/us-supports-idea-imf-loan-greece-geithner-215849222.html
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« Reply #163 on: February 20, 2012, 08:25:06 am »

2/20/12

BRUSSELS (Reuters) - Euro zone finance ministers are expected to approve a second bailout for Greece on Monday to try to draw a line under months of uncertainty that has shaken the currency bloc, although work remains to be done to make the numbers add up.
 
Diplomats and economists say they do not expect the package to resolve Greece's economic problems. That could take a decade or more, a bleak prospect that brought thousands of Greeks onto the streets to protest against austerity measures on Sunday.
 
French Finance Minister Francois Baroin said all the elements were in place to reach an agreement and Greek Finance Minister Evangelos Venizelos said he expected a deal. The finance ministers are scheduled to meet at around 1500 GMT.
 
Euro zone ministers need to agree new measures to make the financing work, given the ever-worsening state of the Greek economy. But they say an agreement on Monday will help restructure Athens' vast debts, put it on a more stable financial footing and keep it inside the 17-country euro zone.

http://news.yahoo.com/decision-day-2nd-greek-bailout-financing-gaps-remain-014018909.html
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« Reply #164 on: February 20, 2012, 08:57:29 am »

2/20/12

BRUSSELS (AP) — Eurozone governments are due to sign off on Monday a long-awaited rescue package for Greece, saving it from a potentially calamitous bankruptcy next month, senior officials said.

But finance ministers meeting in Brussels still have a few last issues to wrangle over, such as tighter controls over Greece's spending and further cuts to the country's debt load.

Greece needs to secure the euro130 billion ($170 billion) bailout quickly so it can move ahead with a related euro100 billion ($130 billion) debt relief deal with private investors, which needs to be in place quickly if Athens is to avoid a disorderly default on a bond repayment on March 20.

more

Despite Athens' efforts, however, several important elements of the deal remained unsolved.

To convince the rest of the eurozone that the new aid money won't be squandered, Greece is expected to be forced to set up a separate account that would ensure that it services its debt. This escrow account would give legal priority to debt and interest payments over paying for government services.

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http://news.yahoo.com/greece-awaits-bailout-decision-issues-remain-125802402.html

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« Reply #165 on: February 20, 2012, 05:23:35 pm »

Greece's fate uncertain as bailout talks drag on

2/20/12

Eurozone finance officials remained behind closed doors late Monday as a crucial round of talks over a second bailout for Greece looked set to run late into the night.


The meeting of finance ministers from the 17 nations that use the euro, known as the Eurogroup, is widely expected to culminate with a decision on a second €130 billion for Greece, which the nation needs to avoid a potential default next month.


But European Union officials declined to say when an announcement would be made. The negotiations leading up to Monday's meeting have been fraught with delays.


Speaking to reporters ahead of the meeting, Eurogroup president Jean-Claude Juncker stressed that Greece should remain a member of the euro currency union.

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« Reply #166 on: February 20, 2012, 10:36:55 pm »

http://finance.yahoo.com/news/second-greek-bailout-reach-funding-gap-narrows-015256172.html

2/20/12

BRUSSELS (Reuters) - Euro zone finance ministers sealed on Tuesday a second bailout for debt-laden Greece that will resolve its immediate financing needs but seems unlikely to revive the nation's shattered economy.
 
After a marathon 13 hours of talks, euro zone officials said ministers had nailed measures to cut Greece's debt to around 121 percent of gross domestic product by 2020, close to their original target of 120, after negotiators for private bondholders offered to accept a bigger loss to help plug the funding gap.
 
Agreement on a 130-billion-euro rescue package with strict conditions attached will help draw a line under months of uncertainty that has shaken the currency bloc, and avert an imminent Greek bankruptcy.
 
"The financial volume (of the Greek package) is 130 billion euros and debt-to-GDP (will be) 121 percent. Now it's down to work on the statement," one official involved in the negotiations told Reuters. Another confirmed the two figures.

more

A report prepared for ministers by EU, European Central Bank and IMF experts, obtained exclusively by Reuters, said Greece would need extra relief to cut its debts near to the official debt target 2020 given the ever-worsening state of its economy.
 
If Athens did not follow through on economic reforms and savings, its debt could hit 160 percent by that date.

more

Private sector holders of Greek debt are expected to take losses of 53.5 percent or more on the nominal value of their bonds. Previously they had agreed to a 50 percent nominal writedown, which equated to around a 70 percent loss on the net present value of the bonds.

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« Reply #167 on: February 21, 2012, 09:05:38 am »

The Full Greek (Un)Sustainability Analysis http://www.zerohedge.com/news/presenting-full-greek-sustainability-analysis-take-it-away-german-media

Downside Case Sees Funding Needs Soar From €136 Billion To €245 Billion http://www.zerohedge.com/news/more-leaked-greece-details-downside-case-sees-bailout-needs-rising-%E2%82%AC136-billion-%E2%82%AC245-billion

Summarizing The Open Questions Surrounding The Second Greek Bailout http://www.zerohedge.com/news/summarizing-open-questions-surrounding-second-greek-bailout

Second Greek Re-Bailout: Terms, Conditions And Next Steps http://www.zerohedge.com/news/second-greek-re-bailout-terms-conditions-and-next-steps

Meaningless Greek Deal Supposedly Reached; Deal Won't Hold by Mike Shedlock http://globaleconomicanalysis.blogspot.com/2012/02/meaningless-greek-deal-supposedly.html

Greek debt could easily derail again: EU/IMF report Reuters http://www.reuters.com/article/2012/02/21/us-greece-debt-idUSTRE81K0PF20120221

Greece's second bailout program could easily go off the rails and send the nation's debt rocketing back to today's unmanageable levels, a confidential study by its international lenders shows.
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« Reply #168 on: February 21, 2012, 09:12:47 am »

http://www.heraldsun.com.au/business/questions-linger-over-deal-to-ease-greeces-burden/story-fn7j19iv-1226277625056

2/22/12

GREECE will need up to $300 billion in further bailout funding if the punishing budget cuts to be imposed in Athens aggravate the recession choking the nation, economists have warned.

Speculation was rife last night that the latest bailout deal between Greece and European Union officials would not be the last, and it would merely stave off default next month.

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« Reply #169 on: February 22, 2012, 08:23:00 am »

"Watch"

http://finance.yahoo.com/news/fitch-downgrades-greece-115003623.html

2/22/12

Fitch ratings agency downgrades Greece from CCC to C, indicating default 'highly likely'

ATHENS, Greece (AP) -- Fitch ratings agency says it has downgraded Greece further into junk status, from 'CCC' to 'C' following the announcement of the details of the country's debt swap deal with private creditors.

The agency said Wednesday the downgrade indicated "that default is highly likely in the near term." In June, the agency had said it would consider Greece to be in restricted default if the bond swap deal went ahead.

The bond swap deal with private creditors will see euro107 billion ($141 billion) of Greece's debt held by banks and other private holders of government bonds written off.

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« Reply #170 on: February 22, 2012, 01:28:08 pm »

http://news.yahoo.com/greeks-might-pay-jobs-152039441.html

2/22/12

It's being called the "negative salary": Due to austerity measures in Greece, it's being reported that up to 64,000 Greeks will go without pay this month, and some will have to pay for having a job. Numbers in austerity reports have usually reflected figures in the millions, since they reflect industry-wide cuts (i.e.  a 537-million euro cut to health and pension funds). And plans of cutting minimum wage by up to 32% is all but a given in the country. Today's "negative salary" deal—which could have government employees returning funds— reveals the real human impact of the austerity measures.

As Zero Hedge and the Press Project report:
Quote
Salary cutbacks (called "unified payroll") for contract workers at the public sector set to be finalized today. Cuts to be valid retroactively since november 2011. Expected result: Up to 64.000 people will work without salary this month, or even be asked to return money. Amongst them 21.000 teachers, 13.000 municipal employees and 30.000 civil servants.
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« Reply #171 on: February 25, 2012, 05:44:45 pm »

Juncker: "Greece May Need A Third Bailout"
24 February 2012, by Tyler Durden (Zero Hedge)
http://www.zerohedge.com/news/juncker-greece-may-need-third-bailout
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« Reply #172 on: February 25, 2012, 09:42:18 pm »

German minister tells Greece to exit eurozone
25 February 2012, (AFP)
http://www.france24.com/en/20120225-german-minister-tells-greece-exit-eurozone

Germany's interior minister on Saturday came out strongly in favour of debt-stricken Greece leaving the eurozone, arguing that this would would improve its chances of becoming competitive again.

"I do not mean that Greece should be kicked out of" the 17-nation eurozone, said Hans-Peter Friedrich in an interview with news magazine Der Spiegel, "but to create incentives for an exit that they cannot turn down."

"Outside European monetary union Greece's chances of regenerating itself and become competitive are definitely bigger than if it remained inside the eurozone," said Friedrich.

Friedrich was speaking ahead of a vote by German lawmakers on Monday on a further €130 billion ($175 billion) in loans for Greece.

Under a plan hammered out by eurozone finance ministers, Greece would receive up to €130 billion in direct loans by 2014 in return for tough new austerity measures and tighter EU-IMF oversight of its economy.

A private creditor bond writedown is worth another €107 billion.

Germany is the biggest contributor to eurozone bailouts.

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« Reply #173 on: February 26, 2012, 08:50:10 am »

The Colonization Begins: Germany May Send 160 Tax Collectors To Greece http://www.zerohedge.com/news/colonization-begins-germany-sends-160-tax-collectors-greece

Mark Grant On The Greek Annexation http://www.zerohedge.com/news/mark-grant-greek-annexation

Two Year Reminder For The Fed: How Is That Investigation Into Goldman’s Greek Currency Swaps Going? http://www.zerohedge.com/news/two-year-reminder-fed-how-investigation-goldmans-greek-currency-swaps-going
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« Reply #174 on: February 26, 2012, 08:58:37 am »

Under Zeus' gaze, austerity-hit Greeks queue for potatoes
26 February 2012, by Harry Papachristou - Katerini, Greece (Reuters)
http://thestar.com.my/news/story.asp?file=/2012/2/26/worldupdates/2012-02-25T193043Z_1_TRE81O0MY_RTROPTT_0_UK-GREECE-POTATOES&sec=Worldupdates

Struggling to cope with austerity, hundreds of Greeks in the town of Katerini at the foot of Mount Olympus have turned to a cheap way to do groceries: ordering potatoes on the Internet and picking them up in a parking lot.

As dawn broke on a cloudless Saturday, buyers patiently gathered to buy directly from growers at less than half the supermarket shelf price - the unemployed who struggle to make ends meet, the retirees whose pensions have been cut by the cost-saving measures and even well-heeled lawyers and women in fur.

The idea to cut out profiteering middlemen, started by a local activist group in Katerini, northern Greece, has led several other towns to seek advice on emulating the action.

"Every penny counts," said Kyriaki Kotropoulou, a 41-year old jobless mother of three, as she stood in line to pick up five bags of potatoes, each containing 10 kg (22 pounds) of the produce at 25 euro cents ($0.34) apiece.

Kotropoulou was a temporary worker at the local municipality but her contract was recently terminated as part of spending cuts demanded by Greece's euro zone partners who approved a 130 billion euro bailout this week.

"We no longer buy any new clothes, we no longer go out for coffee or dinner. Day in, day out, my only concern is how to feed my children and my family," she said.

SELLING 24 TONS IN 12 HOURS

Katerini, a once prosperous town and local hub for agriculture, transport and tourism, has been hit by the crisis as hard as any other in debt-laden Greece.

Streets are full of shuttered shops. Pawnshops offering to buy jewellery are mushrooming. Just like everywhere else in the nation, unemployment has climbed to record levels.

The Pieria Volunteer Action Team, a group of local activists, decided to use the Internet to help people get cheap food. They first contacted a potato grower in northern Greece with surplus stock and a license to sell directly to customers.

Then they invited members and friends to place their orders on the Internet. "Within 12 hours, 530 people ordered 24 tons of potatoes. We had to stop taking orders," said Elias Tsolakides, a 54-year old member of the group.

Saturday morning marked the first time the buyers gathered under the initiative.

Most came in their cars, a few filled their bicycle baskets, behind them the snow-capped summits of Mount Olympus where Zeus, king of the Gods, sat on his throne according to ancient Greek mythology.

Some of the clients, like doctors and other well-off buyers, came not because they were starving but because they wanted to make a statement against what they said was the failure of authorities to crack down on price fixers.

"This is a symbolic move - everybody's income is falling but prices just don't," said Constantine Parastatides, a pensioned engineer.

According to the EU and the IMF, oligopolies, transport bottlenecks, rigid market rules and inefficient policing are key reasons why prices in Greece are not falling as fast as they should to help restore the country's competitiveness.

Under Greece's bailout plan, prices will be more tightly monitored and the competition authority given more teeth.

"There is shameless profiteering in the market. Market police, competition watchdogs, the authorities - nothing works," said Vassilis Anagnostopoulos, a 38-year-old firefighter whose wages have been cut 40 percent.

As soon as the Katerini initiative gathered pace, local supermarkets slashed their potato prices by half - to as low as 34 cents per kg, residents said. And now another 10 towns hope to follow suit.

The initiative also makes sense for Greek farmers. Normally squeezed by wholesalers, supermarkets and cheap potato imports from Egypt, potato grower Lefteris Kesopoulos found himself doing good business at the parking lot on Saturday.

"I've made a bigger profit and I got my money in cash - not in funny checks from some wholesaler that might bounce," the 40-year-old said behind the makeshift desk in front of his truck, from where he was busy signing receipts for customers.

"I will definitely do it again."
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« Reply #175 on: February 27, 2012, 02:37:31 am »

People do what they can based on what they believe or don't believe. No questions the governments aren't doing anything for the people there, so they have to fend for themselves.
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« Reply #176 on: February 27, 2012, 09:46:12 am »

People do what they can based on what they believe or don't believe. No questions the governments aren't doing anything for the people there, so they have to fend for themselves.

If anything, I think people, in general, may do better for themselves if they go this route. For example, let's say animal hunting of some kind(ie-I researched the wild hogs hunting last year, and this seems to be a lucrative business). This is a whole lot better than, let's say, working under an employer(no, NOT ALL employers, but most of them in general).

Greece is going to fall, but nonetheless I like what the citizens are doing here.
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« Reply #177 on: February 28, 2012, 07:28:40 am »

How Much Is That Greek Doggy Worth In The PSI Window?
27 February 2012, by Tyler Durden (Zero Hedge)
http://www.zerohedge.com/news/how-much-greek-doggy-worth-psi-window

Excerpt:

With the Greek government bonds (GGBs) and CDS basis package trading at its highest in six months (over 96% of Par) and GGBs trading below 20% of Par (compared to considerably higher 'expected' PSI-based valuations),

it seems the market is much more convinced of an imminent credit trigger and no PSI deal than headlines are crowing about.

Combining the new 30Y bond, 2Y EFSF add-on, and GDP warrant, BARCAP arrives at a price of around 26.6% of Par for PSI-able bonds - considerably above the current depressed price of GGBs and together with S&P's negative outlook change to the EFSF this morning,

it would appear that market participants are not expecting a deal to get done by March 20th.

Perhaps that is why hope is so high this morning for a quadrillion Euro LTRO2 to see them through? That should help oil prices!

The Greek Bond-CDS package - that theoretically pays off par if a credit event is triggered - is trading at its highest in six months - and given the yields/spreads involved,

the March 20th maturity of the closest bond AND the fact that this date is also a CDS rollover date,

suggests market participants are expecting an 'event' before this (retro CACs?).

The closer the value of the basis package gets to 100, the higher probability and/or sooner the credit event is expected to be.

----

GGBs trade well below the implied PSI valuations levels - implying very little belief in the deal being done as it stands - even with accrueds being paid in full.

----

It would appear that GGBs remain very much the bull-dog in the European china-shop and while hope remains high for the PSI deal to be done, market prices do not reflect this hope.
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« Reply #178 on: March 01, 2012, 06:35:05 pm »

http://news.yahoo.com/greek-unions-walk-parliament-cuts-health-costs-041445565.html;_ylt=AvV7oz2vC14TIp8elRoK2S3zWed_;_ylu=X3oDMTRvdWE2YzNvBGNjb2RlA2dtcHRvcDEwMDBwb29sd2lraXVwcmVzdARtaXQDTmV3cyBmb3IgeW91BHBrZwMzMDM3NmUzMy02MDcyLTMxYmMtYmM1Mi01NTMzYWU0OWZkZTQEcG9zAzMEc2VjA25ld3NfZm9yX3lvdQR2ZXIDZmY4YjYxNDAtNjM1NS0xMWUxLWIzZTUtMGMyZTA5ZGMyODk1;_ylg=X3oDMTM1cGpxdHM5BGludGwDdXMEbGFuZwNlbi11cwRwc3RhaWQDZDNhM2U2OTQtNDcwMC0zOTFhLWE5NjMtNjgzZTk2Mzg0MjhjBHBzdGNhdANob21lfHdlYXRoZXIEcHQDc3RvcnlwYWdlBHRlc3QD;_ylv=3

2/29/12

The Greek parliament early Thursday approved a bill to cut health service costs after unions staged walkouts as part of Europe-wide demonstrations against austerity measures.
 
The text that had been demanded by the European Union and the IMF to unblock a new aid plan for the debt-stricken country was adopted by a large majority, on the eve of an EU summit that should pave the way for fresh loans to Greece.
 
The bill, passed under an emergency procedure as parliament was surrounded by police, lays down a cut in pharmaceutical expenses through the development of computerised prescriptions and the use of generic medicines.
 
It also limits the public health budget by merging hospital groups and calls for setting up a unified pension scheme consolidating numerous groups whose current total deficit is put at 850 million euros for 2011.

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« Reply #179 on: March 01, 2012, 07:00:38 pm »


Eurozone agrees in principle on Greek payment

http://news.yahoo.com/eurozone-agrees-principle-greek-payment-163502019.html

3/1/12

BRUSSELS (AP) — The finance ministers of the 16 other countries that use the euro on Thursday agreed in principle to give Greece a first batch of bailout money to finance a massive debt relief deal with private investors.

However, the final green light for as much as euro93.5 billion ($125.69 billion) — which Greece needs to implement the debt swap — will come next week.

After a three-hour meeting in Brussels, the ministers said the payout can go ahead once Athens has passed "a few pending implementing acts" for promised austerity measures and the ministers how many banks and investment funds will actually participate in the bond swap.

A successful implementation of the euro107 billion ($143.84 billion) debt relief deal with private bondholders is a precondition for Greece to receive the rest of the euro130 billion bailout.

Private investors have until next Thursday to decide whether they will swap their Greek bonds for new ones with a lower face value, lower interest rates and longer repayment periods.

Overall, bondholders will lose more than 70 percent of the value of their holdings, but in return they will receive some of the money they are owed immediately and have at least the hope that they will get some more of it back in 30 years. Without the debt relief deal and the new bailout, Greece would have defaulted on its debts within weeks, potentially sending ripples across the world financial system.

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