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August 08, 2018, 02:38:10 am suzytr says: Hello, any good churches in the Sacto, CA area, also looking in Reno NV, thanks in advance and God Bless you Smiley
January 29, 2018, 01:21:57 am Christian40 says: It will be interesting to see what happens this year Israel being 70 years as a modern nation may 14 2018
October 17, 2017, 01:25:20 am Christian40 says: It is good to type Mark is here again!  Smiley
October 16, 2017, 03:28:18 am Christian40 says: anyone else thinking that time is accelerating now? it seems im doing days in shorter time now is time being affected in some way?
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.”
September 20, 2017, 04:32:32 am Christian40 says: "The most popular Hepatitis B vaccine is nothing short of a witch’s brew including aluminum, formaldehyde, yeast, amino acids, and soy. Aluminum is a known neurotoxin that destroys cellular metabolism and function. Hundreds of studies link to the ravaging effects of aluminum. The other proteins and formaldehyde serve to activate the immune system and open up the blood-brain barrier. This is NOT a good thing."
http://www.naturalnews.com/2017-08-11-new-fda-approved-hepatitis-b-vaccine-found-to-increase-heart-attack-risk-by-700.html
September 19, 2017, 03:59:21 am Christian40 says: bbc international did a video about there street preaching they are good witnesses
September 14, 2017, 08:06:04 am Psalm 51:17 says: bro Mark Hunter on YT has some good, edifying stuff too.
September 14, 2017, 04:31:26 am Christian40 says: i have thought that i'm reaping from past sins then my life has been impacted in ways from having non believers in my ancestry.
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 #270 on: May 16, 2012, 06:20:41 pm »

http://news.yahoo.com/run-greek-banks-looks-180100901.html

5/16/12

..

In the last few weeks, market analysts have ratcheted up fears about a run on Greek banks. Now, some experts say those fears are beginning to materialize.
 
Photographs of Greek citizens pulling cash from ATMs were captured today and yesterday by Reuters and Russian Market following an announcement by Greek Central bank head George Provopoulos that Greeks pulled 700 million euros ($891 million) from the country's banks on Monday. Does that huge sum equate to a run on the banks? It depends who you ask.

 This is the beginning of a run on banks. Zero Hedge blogger Tyler Durden fears the worst as he passes along pictures of ATM lines in Greece. "A Greek banking system which is now virtually shut out of any extrenal funding except for the ELA, where it has a few billions euros in access left, will be unable to deal with hundreds of millions in deposit outflows," he writes. "This may be the beginning of the end for Greece, just as Buiter and later JPM warned over the weekend." Similarly, Z6Mag editor Allan Soldner says the withdrawals this week show the first sings of a run, noting yesterday that the Dow, S&P and Nasdaq all ended down, along with the precious metals market. "ATM lines are often the hysteria that starts the ball rolling even worse in any bank run because people walking by start asking if they should be doing the same."
 
 This isn't a run on banks but it's scary. Crunching some numbers, Financial Times blogger Joseph Cotterill latches onto an FT report that says Athens bankers have voiced conern about a continued "outflow of deposits of more than 5bn since May 6." Conveying the severity of the withdrawals, he says "That would work out at an average of €700m per business day, up to May 15." Still, Cotterill is more surprised that these kinds of withdrawals haven't happened sooner. "The amazing thing about the Greek banking system since 2009 is not just the 25 to 30 per cent of deposits that have left, but the 70-75 per cent which have stayed."
 
Meanwhile, Greece's president Karolos Papoulias has taken a similar tone in that the withdrawals are frightening but not a sign of mass panic. "Of course there’s no panic but there’s great fear which can evolve into panic,” the president said. Not the most reassuring words but I guess that's how they do business in Greece.
 
 Things don't seem to be that bad. While quoting experts who say the risk of a bank run is "a very serious problem," Bloomberg's Natalie Weeks and Maria Petrakis downplay the idea of a mass panic in Greece. "Banks in downtown in Athens were open as normal today with no signs of unusual activity," they report. "Deposits by businesses and households held in Greek banks stood at 165.4 billion euros in March ... In 2011, deposits declined 35.4 billion euros, or 17 percent." Corroborating that view, a woman in Greece told MSNBC she had withdrawn 85 percent of "what's left" in her bank account but didn't notice lines when she did. "There are no lines to withdraw money, but maybe that's because many Greeks have precious little left in the bank," she said. "Many have been surviving on [$500] 400 euros a month, which has to cover tax, bills, food and medical costs."..
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« Reply #271 on: May 16, 2012, 07:04:48 pm »

Greece to hold new elections on June 17: reports
16 May 2012, by Kim Hjelmgaard - London (MarketWatch)
http://www.marketwatch.com/story/greece-to-hold-new-elections-on-june-17-reports-2012-05-16

Greece is to stage a repeat of its divisive May 6 election on June 17, according to media reports.

Reuters, citing a source from the Democratic Left party, said that Greek leaders have also appointed Panos Kammenos, of the Independent Greeks party, as the nation's caretaker prime minister pending the vote.

Russia Today, on Twitter, also reported that the election would be held in mid-June, citing Greek state TV.
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« Reply #272 on: May 17, 2012, 12:34:49 pm »

http://www.huffingtonpost.com/2012/05/17/david-cameron-greece_n_1523729.html

UK's David Cameron: Greece Is On The Brink, Survival Of The Euro In Question

5/17/12

MANCHESTER, England, May 17 (Reuters) - Prime Minister David Cameron urged Europe's rulers on Thursday to do more to quell the euro zone debt crisis and raised the prospect of a Greek default to argue he must stick to his unpopular attempt to cut spending and reduce debt at home.

Warning that the survival of the euro was now in question, Cameron showed growing alarm and frustration that the crisis was spinning out of control, threatening Britain's $2.5 trillion economy and his own electoral prospects in 2015.

"Greece is on the brink, the survival of the euro in question," Cameron told business leaders on a grey and damp morning in the northern English city of Manchester.

"Faced with this, I have a clear task: to keep Britain safe. Not to take the easy course - but the right course," he added.

Echoing the words of Bank of England Governor Mervyn King, Cameron said the crisis in the European Union - Britain's biggest trading partner - had lasted more than two years but the "storm" was far from over.

"We are in unchartered territory which carries huge risks for everybody. As I have consistently said, it is in Britain's interest for the euro zone to sort out its problems."

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« Reply #273 on: May 17, 2012, 12:46:33 pm »

ECB Bars Access to Four Greek Banks
17 May 2012  FINANCIAL TIMES  /  CNBC
The European Central Bank has reacted to uncertainty over Greece’s future in the eurozone by excluding four of the country’s banks from its regular liquidity providing operations.
The move raises the pressure on Greece to stick to its international bailout by highlighting the risk that eurozone central bankers could pull the plug on its financial system. It reflected ECB fears that a planned recapitalisation of Greece’s banks could be delayed.

The four Greek banks – which the ECB did not name – will have to rely instead on “emergency liquidity assistance” – a special temporary facility provided by the Greek central bank but subject to ECB approval. The ECB “continues to support Greek banks,” a spokesman said.
http://www.cnbc.com/id/47424014
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« Reply #274 on: May 17, 2012, 04:54:46 pm »

Fitch cuts Greece to 'CCC' on possible EMU exit
17 May 2012, by Sue Chang - San Francisco (MarketWatch)
http://www.marketwatch.com/story/fitch-cuts-greece-to-ccc-on-possible-emu-exit-2012-05-17

Fitch Ratings on Thursday downgraded Greece's sovereign rating to CCC from B- due to heightened risk that Greece may have to exit the Economic and Monetary Union.

The strong showing of political parties opposing austerity in the recent election and the failure of the parties to form a government underscores the lack of national support for the E.U.-IMF bailout program, Fitch said.

"In the event that the new general elections scheduled for June 17 fail to produce a government with a mandate to continue with the E.U.-IMF program of fiscal austerity and structural reform, an exit of Greece from EMU would be probable," said Fitch in a statement.

A Greek exit from the EMU is likely to result in defaults in the private sector as well as sovereign euro-denominated obligations, the ratings agency said.

Triple-C grade is categorized as "poor quality" with possibility of default.
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« Reply #275 on: May 18, 2012, 02:53:09 pm »

http://news.yahoo.com/europe-thinks-unthinkable-greece-131721052--sector.html

5/18/12

Europe thinks the unthinkable on Greece
By Sebastian Moffett and Mike Peacock | Reuters – 2 hrs 45 mins ago.

BRUSSELS/LONDON (Reuters) - European officials are working on contingency plans in case Greece bombs out of the euro zone, the EU's trade commissioner said on Friday, while Berlin said it was prepared for all eventualities.
 
German Finance Minister Wolfgang Schaeuble, one of Greece's harsher critics, said market turmoil fuelled by the euro zone debt crisis could last another year or two.
 
"Regarding the crisis of confidence in the euro ... in 12 to 24 months we will see a calming of the financial markets," he said.
 
European shares hit their lowest level since December, depressed by the prospect of a Greek euro exit spreading a wave of contagion in the currency bloc which could engulf much larger economies such as Spain's.
 
Policymakers insist they want Greece to remain in the euro zone but European Union trade commissioner Karel De Gucht said the European Commission and the European Central Bank were working on scenarios in case it has to leave.

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« Reply #276 on: May 23, 2012, 05:14:55 pm »

http://www.bloomberg.com/news/2012-05-22/war-gaming-greek-euro-exit-highlights-hazards-in-46-hour-weekend.html

5/23/12

War-Gaming Greek Euro Exit Shows Hazards in 46-Hour Weekend

Greece may have only a 46-hour window of opportunity should it need to plot a route out of the euro.

That’s how much time the country’s leaders would probably have to enact any departure from the single currency while global markets are largely closed, from the end of trading in New York on a Friday to Monday’s market opening in Wellington, New Zealand, based on a synthesis of euro-exit scenarios from 21 economists, analysts and academics.

Over the two days, leaders would have to calm civil unrest while managing a potential sovereign default, planning a new currency, recapitalizing the banks, stemming the outflow of capital and seeking a way to pay bills once the bailout lifeline is cut. The risk is that the task would overwhelm any new government in a country that has had to be rescued twice since 2010 because it couldn’t manage its public finances.

“Leaving is difficult and messy, so anyone who thinks it’s easy is just wrong,” said Lorenzo Bini Smaghi, who left the European Central Bank’s executive board last year, in a phone interview. “The Greeks must be rational and protect themselves from rash decisions that they will live to regret. Leaving the euro is not the answer to their problems.” He declined to say whether he thought an exit would occur.

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« Reply #277 on: May 24, 2012, 10:19:23 pm »

Italy, Spain insurers most exposed to Greece
24 May 2012, by Kim Hjelmgaard - London (MarketWatch)
http://www.marketwatch.com/story/italy-spain-insurers-most-exposed-to-greece-2012-05-24

Italian and Spanish insurers would have the most to lose were Greece to leave the euro zone, Fitch Ratings said on Thursday.

Fitch said the exposure was related to the potential "contagion effect it [the Greek exit] could have on Italian and Spanish sovereign and bank debt.

Insurers in Germany and the U.K., by contrast, are "well-insulated from rising risks in the euro-zone periphery, Fitch said.

Fitch said a Greek exit is not its "base-case scenario."
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« Reply #278 on: May 25, 2012, 06:20:05 pm »

FYI, interesting that the upcoming Greece election is on the same weekend when Egypt will either elect a Muslim Brotherhood candidate or someone from the previous regime(Mubarak) for President, June 16-17.
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« Reply #279 on: May 26, 2012, 04:13:13 pm »

http://news.yahoo.com/no-german-money-greek-bottomless-pit-minister-134826621.html

5/26/12

No German money for Greek ''bottomless pit'': minister

BERLIN (Reuters) - Germany will not "pour money into a bottomless pit" and patience with Greece is growing thin ahead of a new election in the Mediterranean country, a conservative member of Chancellor Angela Merkel's cabinet was quoted on Saturday as saying.
 
Interior Minister Hans-Peter Friedrich told the Leipziger Volkszeitung newspaper that Germany, Europe's largest economy and the biggest contributor to rescue efforts, is glad to help Greece help itself but expects it to honor its agreements.
 
"We're not willing to pour money into a bottomless pit," he told the newspaper.
 
"Anyone who wants to see help and solidarity from us has to accept that we expect from that country a certain amount of seriousness and a certain amount of reasonableness."

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« Reply #280 on: May 26, 2012, 07:57:33 pm »

http://finance.yahoo.com/news/spain-region-greek-exit-warnings-114218247.html?l=1

Spain region, Greek exit warnings rattle euro zone

5/26/12

(Reuters) - Central banks and companies risk making a grave error if they do not brace for a possible Greek exit from the euro zone, Belgium's foreign minister said on Friday, rattling markets already alarmed by Spain's deteriorating finances.

Greek elections are scheduled for June 17 and could hasten the country's departure from the currency club should a government intent on ripping up the country's bailout program result.

Contrasting findings of opinion polls on Friday showed the outcome is too tight to call.

Greece accounts for little more than 2 percent of the euro zone economy but could pose a profound contagion threat if it quit the currency area, throwing the spotlight on Portugal, Spain and even Italy.

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« Reply #281 on: May 27, 2012, 07:43:22 pm »

Greece will run out of money by end of June, warns former PM Lucas Papademos
27 May 2012,  (AFP - Telegraph)
http://www.telegraph.co.uk/finance/financialcrisis/9293101/Greece-will-run-out-of-money-by-end-of-June-warns-former-PM-Lucas-Papademos.html

Excerpt:

Former Greek prime minister Lucas Papademos has reportedly warned that Greece may run out of money by the end of June if international bailout funds are cut off following next month's election.

"From late June onwards, the ability of the government to fund its obligations fully depends on the approval of the subsequent installments of loans from the EFSF and the IMF ," To Vima newspaper quoted Papademos as saying in a leaked memo.

"The available funds in the Greek government will be reduced gradually from about €3.8bn [£3bn} on May 11 to about €700m on June 18 and from June 20 will enter negative territory at the level of around €1bn."
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« Reply #282 on: May 29, 2012, 06:53:24 pm »

http://www.reuters.com/article/2012/05/29/greece-euro-idUSL5E8GTI5320120529

5/29/12

Biggest Greek bank warns of dire euro exit fallout

May 29 (Reuters) - If Greece left the euro, living standards would plummet, incomes would be slashed by more than half, and inflation and unemployment would skyrocket, the National Bank of Greece warned on Tuesday.

In a report released ahead of an election on June 17 that may determine whether the country stays in the single currency, the country's biggest bank said the risk of Athens exiting the euro was no longer just a theoretical possibility, warning that the fallout from such a move would be dramatic.

"An exit from the euro would lead to a significant decline in the living standards of Greek citizens," the NBG wrote ahead of a vote which parties opposed to austerity measures that have kept Greece in the euro so far have a chance of winning.

The bank said per capita income would collapse by at least 55 percent, the new national currency would depreciate by 65 percent against the euro and a recession, now in its fifth year, would deepen by 22 percent.

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« Reply #283 on: May 30, 2012, 10:31:46 am »

Spain rattles markets, Greeks warned of catastrophe

5/30/12

MADRID/ATHENS (Reuters) - Spain's borrowing costs lurched higher and the Madrid stock market hit a nine-year low on Wednesday as investors rattled by deepening fears about its banking system fled to the relative haven of German bonds.

Spain's banking woes - the result of a burst property bubble aggravated by recession - have combined with growing uncertainty about Greece's survival in the euro zone to reignite Europe's sovereign debt crisis, driving the euro to a two-year low of $1.2454. European shares also extended their fall after Italy paid heavily to sell bonds.

Madrid said it will probably tap credit markets to inject funds into nationalized lender Bankia, but that looks expensive with 10-year borrowing costs at 6.67 percent near their euro era peak and close to levels at which Ireland and Greece sought international bail-outs.

The Economy Ministry played down a Financial Times report that the European Central Bank had rejected an initial plan to rescue Bankia, Spain's fourth biggest bank, by stuffing it with government bonds that could be used as collateral to borrow from the ECB. [ID:nL5E8GU39O]

more: http://finance.yahoo.com/news/spain-rattles-markets-greeks-warned-100300736.html?l=1
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« Reply #284 on: May 30, 2012, 04:31:33 pm »

http://news.yahoo.com/radical-anti-bailout-left-regains-greek-poll-lead-134954203--finance.html

Radical anti-bailout left regains Greek poll lead
Associated Press – 5/30/12

ATHENS, Greece (AP) — A new survey indicates that Greece's radical left Syriza party, which opposes the loan-dependent country's bailout commitments, has regained the lead in opinion polls ahead of crucial national elections on June 17.

The VPRC poll for Epikaira magazine published Wednesday gives Syriza 30 percent of the vote, followed by conservative pro-bailout New Democracy at 26.5 percent.

While Syriza would lack enough seats to govern alone, it could form a coalition with the expected backing of two more anti-austerity parties.

Syriza, the surprise runner-up to New Democracy in the inconclusive May 6 election, came second to the conservatives in five polls published since Sunday.

If Greece reneges on its international bailout commitments, it could see the vital loans dry up, enter a death spiral and eventually have to abandon the euro.
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« Reply #285 on: May 31, 2012, 03:22:11 pm »

Greece needs boosted reform for future funding: EC
30 May 2012, by Stelios Bouras - Athens (MarketWatch)
http://www.marketwatch.com/story/greece-needs-boosted-reform-for-future-funding-ec-2012-05-30

Greece will need to pick up the pace of reforms in order to secure future funding from international creditors, the European Commission said Wednesday.

In a country report on Greece, the commission reiterated that the economy is seen contracting at an annual pace of 4.7% in 2012, with the potential risk for further deterioration, and that the country's medium-term economic performance will depend on the implementation of structural reforms.

"Comprehensive international financial assistance can continue to be provided only if policy implementation improves," the commission said in its report.

"The determination of the Greek authorities to stick to the agreed policies will be tested in the coming months when deficit-reducing measures to close the large gap for 2013-14 need to be identified," it said.

Under the terms of the country's latest €130 billion bailout, Greece must detail in June some €11.5 billion worth of spending cuts to close fiscal gaps in 2013 and 2014.

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Greece Risks Trade Constraints as Insurers Cut Export Coverage
31 May 2012, by Howard Mustoe and Greg Viscusi (bloomberg)
http://www.bloomberg.com/news/2012-05-30/euler-hermes-suspends-insurance-cover-for-exports-to-greece.html

Euler Hermes SA, the world’s biggest credit insurer, said it will no longer cover new shipments of goods to Greece because of the risks of the nation leaving the euro currency and customers defaulting on payments.

The insurer, a unit of Allianz SE, took the decision because exporting to Greece has become “significantly more risky,” Paris-based Euler Hermes said in an e-mailed statement yesterday.

The insurer is still working under the assumption Greece will remain in the euro zone, it said.

“We will still cover those shipments under way and internal commercial transactions,” spokeswoman Bettina Sattler said by telephone today. Future shipments to the country won’t be covered, she said.

The lack of export insurance, which pays companies if a client defaults, raises the prospect that certain goods will no longer reach Greek companies and stores.

Austria’s OeKB Versicherung AG said on May 29 it will also drop coverage of new shipments to Greece and Coface SA of France said it’s only doing business with “the healthiest Greek companies.”

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« Reply #286 on: June 01, 2012, 10:32:07 pm »

http://finance.yahoo.com/news/moodys-cuts-greek-domestic-rating-023552176.html?l=1

6/1/12

Moody's cuts Greek domestic rating ceiling on euro exit risk

NEW YORK (Reuters) - Rating agency Moody's Investors Service said it had lowered its ratings ceiling on Greek domestic debt issuers due to the rising risk of the country exiting the euro zone, but added it did not consider that the most likely scenario for the country.

Moody's said it lowered its assessment of the highest rating that can be assigned to a domestic debt issuer in Greece to Caa2, below the highest existing rating by the firm on any Greek security, which is B1 for certain covered bonds.

"Any rating actions taken as a result of the new ceiling will be released during the coming week," Moody's said in a statement on Friday.

"Moody's indicated that although the risk of a euro exit by Greece is substantial it is still not what it considers its 'central case' or most likely scenario," it said.

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« Reply #287 on: June 02, 2012, 11:29:38 am »

Euro Shorts Reach Record as Spain, Greece Concern Damp Demand
1 june 2012, by Catarina Saraiva (Bloomberg)
http://www.bloomberg.com/news/2012-06-01/euro-shorts-reach-record-as-spain-greece-concern-damp-demand.html

Excerpt:

Futures traders boosted bets that the euro will depreciate against the dollar to a record high as concern increased that Spain’s banking crisis will worsen and Greece may exit the 17-nation currency union.

Hedge funds and other large speculators increased wagers on a euro drop for a fourth straight week in the five days ended May 29, Commodity Futures Trading Commission data showed today.

The surge came during a week in which Greece’s anti-bailout political party gained in the polls and as Spanish leaders debated how to recapitalize Bankia group.

“Positions are getting more extended,” said Brian Kim, a currency strategist in Stamford, Connecticut, at Royal Bank of Scotland Group Plc.

“It’s not just because of the crisis, but also data getting weak and expectations that the ECB could ease in the second half of the year.”

The [color]difference[/color] in the number of wagers on a decline in the shared currency compared with those on a gain, known as net shorts, was 203,415, the most since the euro’s inception in 1999.

It was the third consecutive weekly record.

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« Reply #288 on: June 04, 2012, 06:41:26 am »

10 Things That We Can Learn About Shortages And Preparation From The Economic Collapse In Greece

When the economy of a nation collapses, almost everything changes.  Unfortunately, most people have never been through anything like that, so it can be difficult to know how to prepare.  For those that are busy preparing for the coming global financial collapse, there is a lot to be learned from the economic depression that is happening right now in Greece.  Essentially, what Greece is experiencing is a low level economic collapse.  Unemployment is absolutely rampant and poverty is rapidly spreading, but the good news for Greece is that the global financial system is still operating somewhat normally and they are getting some financial assistance from the outside.  Things in Greece could be a whole lot worse, and they will probably get a whole lot worse before it is all said and done.  But already things have gotten bad enough in Greece that it gives us an idea of what a full-blown economic collapse in the 21st century may look like.  There are reports of food and medicine shortages in Greece, crime and suicides are on the rise and people have been rapidly pulling their money out of the banks.  Hopefully this article will give you some ideas that you can use as you prepare for the economic chaos that will soon be unfolding all over the globe.

The following are 10 things that we can learn about shortages and preparation from the economic collapse in Greece....

#1 Food Shortages Can Actually Happen

Most people assume that they will always be able to run out to their local supermarket or to Wal-Mart and get all of the supplies they need.

Unfortunately, that is a false assumption.  The truth is that our food distribution system is extremely vulnerable.

In Greece, many people are starting to totally run out of food.  Even some government institutions (such as prisons) are now reporting food shortages.  The following was originally from a Greek news source....

The financing for many prisons has decreased to a minimum for some months now, resulting in hundreds of detainees being malnourished and surviving on the charity of local communities.

The latest example is the prison in Corinth where after the supply stoppage from the nearby military camp, the prisoners are at the mercy of God because, as reported by prison staff, not even one grain of rice has been left in their warehouses. When a few days earlier the commander of the camp announced to the prison management the transportation stoppage, citing lack of food supplies even for the soldiers, he shut down the last source of supply for 84 prisoners. The response of some Corinth citizens was immediate as they took it upon themselves to support the prisoners, since all protests to the Justice ministry were fruitless.
#2 Medicine Is One Of The First Things That Becomes Scarce During An Economic Collapse

If you are dependent on medicine in order to survive, you might want to figure out how you are going to get by if your supply of medicine is totally cut off someday.

In Greece, medicine shortages have become a massive problem.  The following is from a recent Bloomberg article....

Mina Mavrou, who runs a pharmacy in a middle-class Athens suburb, spends hours each day pleading with drugmakers, wholesalers and colleagues to hunt down medicines for clients. Life-saving drugs such as Sanofi (SAN)’s blood-thinner Clexane and GlaxoSmithKline Plc (GSK)’s asthma inhaler Flixotide often appear as lines of crimson data on pharmacists’ computer screens, meaning the products aren’t in stock or that pharmacists can’t order as many units as they need.

“When we see red, we want to cry,” Mavrou said. “The situation is worsening day by day.”

The 12,000 pharmacies that dot almost every street corner in Greek cities are the damaged capillaries of a complex system for getting treatment to patients. The Panhellenic Association of Pharmacists reports shortages of almost half the country’s 500 most-used medicines. Even when drugs are available, pharmacists often must foot the bill up front, or patients simply do without.
#3 When An Economy Collapses, So Might The Power Grid

Try this some time - turn off all power to your home for 24 hours and try to live normally.

Sadly, most people simply do not understand just how dependent we are on the power grid.  Without power, all of our lives would change dramatically.

In Greece, authorities are warning of an impending "collapse" of the power grid.  If it goes down for an extended period of time in Greece, the consequences would be catastrophic....

Greece’s power regulator RAE told Reuters on Friday it was calling an emergency meeting next week to avert a collapse of the debt-stricken country’s electricity and natural gas system.

“RAE is taking crisis initiatives throughout next week to avert the collapse of the natural gas and electricity system,” the regulator’s chief Nikos Vasilakos told Reuters.

RAE took the decision after receiving a letter from Greece’s natural gas company DEPA, which threatened to cut supplies to electricity producers if they failed to settle their arrears with the company.
#4 During An Economic Collapse You Cannot Even Take Water For Granted

If the power grid goes down, you will soon no longer have clean water coming out of your faucets.  That is one of the reasons why it is absolutely imperative that the power grid stay operable in Greece.

Sadly, most people don't understand just how vulnerable our water system is.  In a previous article, I quoted from a report that discussed how rapidly our water supply would be in jeopardy in the event of a major transportation disruption....

According to the American Water Works Association, Americans drink more than one billion glasses of tap water per day. For safety and security reasons, most water supply plants maintain a larger inventory of supplies than the typical business. However, the amount of chemical storage varies significantly and is site specific. According to the Chlorine Institute, most water treatment facilities receive chlorine in cylinders (150 pounds and one ton cylinders) that are delivered by motor carriers. On average, trucks deliver purification chemicals to water supply plants every seven to 14 days. Without these chemicals, water cannot be purified and made safe for drinking. Without truck deliveries of purification chemicals, water supply plants will run out of drinkable water in 14 to 28 days. Once the water supply is drained, water will be deemed safe for drinking only when boiled. Lack of clean drinking water will lead to increased gastrointestinal and other illnesses, further taxing an already weakened healthcare system.
What will you do when clean water stops coming out of your faucets?

You might want to start thinking about that.

#5 During An Economic Crisis Your Credit Cards And Debit Cards May Stop Working

Most people have become very accustomed to using either debit cards or credit cards for almost everything.

But what would happen if the financial system locked up for a period of time and you were not able to use them?

This is something that the citizens of Greece are potentially facing in the coming months, and this is something that all of us need to start thinking about.

#6 Crime, Rioting And Looting Become Commonplace During An Economic Collapse

Big corporations are already making extensive plans for how to protect their stores in the event that Greece switches from the euro to the drachma.

The following is from a recent Reuters article....

British electrical retailer Dixons has spent the last few weeks stockpiling security shutters to protect its nearly 100 stores across Greece in case of riot.

The planning, says Dixons chief Sebastian James, may look alarmist but it's good to be prepared.

Company bosses around Europe agree. As the financial crisis in Greece worsens, companies are getting ready for everything from social unrest to a complete meltdown of the financial system.
#7 During A Financial Meltdown Many Average Citizens Will Start Bartering

During this economic depression, alternative currencies have already been popping up in Greece.

When things fall apart on a global scale, will you have things to barter for the things that you need?

#8 Suicides Spike During An Economic Collapse

When you think of the Great Depression of the 1930s, what do you think of?

Many people think of images of people jumping out of buildings.

Well, something similar has been happening in Greece.  Suicide statistics in Greece have been absolutely soaring during the last couple of years.

Once prosperity disappears, many people feel as though life is not worth living anymore.

#9 Your Currency May Rapidly Lose Value During An Economic Crisis

Just remember what happened in Germany during the Weimar Republic and what has happened recently in places like Zimbabwe.

The truth is that it can happen anywhere.

Right now, Greeks are pulling their money out of the banks because they are worried that their euros will be turned into drachmas which would rapidly lose value.

If I was living in Greece I would definitely be concerned about that.  The return of the drachma seems to get closer with each passing day.  Just check out these screenshots.

#10 When Things Hit The Fan The Government Will Not Save You

Has the government of Greece come to the rescue of all of those that are deeply suffering right now?

Of course not.  The truth is that the Greek government can barely take care of itself at the moment.

History has shown us that governments simply cannot be counted on when things hit the fan.

Just remember what happened during the aftermath of Hurricane Katrina.

In the end, the only one that can be counted on to take care of you and your family is you.

So you better start preparing.

Unfortunately, as I wrote about the other day, time is rapidly running out for the global financial system.

Even some of the top economic officials in the world are warning that another major crisis could be on the way.

Just check out what World Bank President Robert Zoellick said the other day....

"Events in Greece could trigger financial fright in Spain, Italy and across the eurozone. The summer of 2012 offers an eerie echo of 2008."
He also compared a potential exit of Greece from the eurozone to the collapse of Lehman Brothers back during the last financial crisis....

"If Greece leaves the eurozone, the contagion is impossible to predict, just as Lehman had unexpected consequences."
So what are some things that the average person can do to get prepared?

Well, a recent article on SHTFplan.com entitled "The List: A to Z Survival for the Abysmal Times Ahead" contains hundreds of ideas for preparing for the chaotic economic environment that we are heading into.

Preparation is going to look different for every family.  No two situations are exactly the same.

But there are some practical steps that nearly all of us can take to better position ourselves for what is coming.  Now is the time to get educated and now is the time to take action.

Or you could be like all of those that laughed at Noah while he was building that big boat.

In the end, things did not work out too well for those folks.

http://endtimesandcurrentevents.freesmfhosting.com/index.php?action=post;topic=4035.270;num_replies=287
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« Reply #289 on: June 04, 2012, 07:21:45 am »


But there are some practical steps that nearly all of us can take to better position ourselves for what is coming.  Now is the time to get educated and now is the time to take action.

Or you could be like all of those that laughed at Noah while he was building that big boat.

http://endtimesandcurrentevents.freesmfhosting.com/index.php?action=post;topic=4035.270;num_replies=287

But with one exception...

Heb 11:6  But without faith it is impossible to please him: for he that cometh to God must believe that he is, and that he is a rewarder of them that diligently seek him.
Heb 11:7  By faith Noah, being warned of God of things not seen as yet, moved with fear, prepared an ark to the saving of his house; by the which he condemned the world, and became heir of the righteousness which is by faith
.

1Pe 3:18  For Christ also hath once suffered for sins, the just for the unjust, that he might bring us to God, being put to death in the flesh, but quickened by the Spirit:
1Pe 3:19  By which also he went and preached unto the spirits in prison;
1Pe 3:20  Which sometime were disobedient, when once the longsuffering of God waited in the days of Noah, while the ark was a preparing, wherein few, that is, eight souls were saved by water
.

2Pe 2:4  For if God spared not the angels that sinned, but cast them down to hell, and delivered them into chains of darkness, to be reserved unto judgment;
2Pe 2:5  And spared not the old world, but saved Noah the eighth person, a preacher of righteousness, bringing in the flood upon the world of the ungodly;


Aside from 8 souls, NOONE REPENTED during Noah's days.
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« Reply #290 on: June 04, 2012, 08:43:40 am »

Majority of Finns want Greece out of the eurozone

6/4/12

A majority of Finns want Greece to leave the eurozone, a study conducted by Finnish pollster Think If Laboratories showed on Monday.
 
A total of 56 percent of the 1,819 people questioned said Greece should leave the euro while 21 percent opposed the idea, and 23 percent of respondents were undecided, according to the survey.
 
"Finns are clearly dubious about the way the ongoing crisis is being handled. The findings are indicative of a deep distrust in Greece's ability to manage its economy," Juhana Aunesluoma, the director of the University of Helsinki's Network for European Studies, told AFP.
 
According to Aunesluoma, "Greece's membership in the single currency will be costly. Finns understand that Greece's woes will have an impact on Finnish finances as well. However, Finns seem to like the euro, but take issue with some of its members."
 
A separate poll last week showed that 58 percent of Finns supported Finland's membership in the eurozone, 32 percent opposed it and 10 percent were undecided.

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http://news.yahoo.com/majority-finns-want-greece-eurozone-104648933.html
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« Reply #291 on: June 06, 2012, 01:28:05 pm »

Greece Warns of Going Broke as Tax Proceeds Dry Up

ATHENS — As European leaders grapple with how to preserve their monetary union, Greece is rapidly running out of money.
 
Government coffers could be empty as soon as July, shortly after this month’s pivotal elections. In the worst case, Athens might have to temporarily stop paying for salaries and pensions, along with imports of fuel, food and pharmaceuticals.
 
Officials, scrambling for solutions, have considered dipping into funds that are supposed to be for Greece’s troubled banks. Some are even suggesting doling out i.o.u.’s.
 
Greek leaders said that despite their latest bailout of 130 billion euros, or $161.7 billion, they face a shortfall of 1.7 billion euros because tax revenue and other sources of potential income are drying up. A wrenching recession and harsh budget cuts have left businesses and individuals with less and less to give for taxes — and growing incentive to avoid paying what they owe.

The budget gap is widening as the so-called troika of lenders — the International Monetary Fund, the European Central Bank and the European Commission — withholds 1 billion euros in bailout money earmarked for government financing while it waits to see whether new leaders elected June 17 will honor Greece’s commitments.
 
Even if the troika delivers that money, Greece will struggle to cover its obligations. It underscored a harsh reality that is playing out in other troubled euro zone economies. Prolonged austerity is making it harder, not easier, for governments like Greece to become self-reliant again.

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http://finance.yahoo.com/news/greece-warns-going-broke-tax-165803529.html
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« Reply #292 on: June 07, 2012, 10:12:05 am »

Greek unemployment hits record while French jobless rate reaches 10pc
7 June 2012, by Louisa Peacock (The Telegraph)
http://www.telegraph.co.uk/finance/jobs/9316410/Greek-unemployment-hits-record-while-French-jobless-rate-reaches-10pc.html

Eurozone unemployment marched higher on Thursday as Greek joblessness reached a new record and France's jobless rate hit the psychologically damaging 10% mark.

Greece's unemployment rate shot up to 21.9% in March, rising sharply from the 15.7% rate in the same month last year and up from 21.4%in February, the country's statistics agency said.

Almost 1.8m people were registered as unemployed in the nation of 11.3m, according to Greece's Ase statistics agency.

Elsewhere in the crisis-hit eurozone, France's unemployment rate rose to about 10% in the first quarter, up from 9.8% in the previous three months, according to Bloomberg.

French companies cut jobs in the face of faltering economic growth, statistics from Paris' Insee showed on Thursday, presenting newly elected President Francois Hollande with a fresh challenge.

Some of France's largest companies, including Air France , Peugeot and Carrefour SA have been looking to reduce costs, leading labour unions to urge Mr Hollande to make good on a campaign to prevent a wave of firings.

“The labour market is still fundamentally very weak,” said Dominique Barbet, an economist at BNP Paribas in Paris.

Bernard Thibault, leader of France’s CGT union, estimated last week that 45,000 French jobs are at risk in the coming months.

French jobless claims rose for a 12th month in April, with the number of people actively looking for work rising by 4,300 to 2.89m, the Labor Ministry said last month.

Greece's unemployment rate soared further in March to a new record, following deep spending cuts and major tax rises, leaving the country mired in a deep recession.

Greece has been struggling through a financial crisis for the past two years, and has been relying on billions of euros in international rescue loans from other eurozone countries and the International Monetary Fund since May 2010.

The Greek statistics agency said there were 21,625 more people unemployed in March compared with February, a 2.1% increase.

Young people have been the most affected by the job losses, with more than half 52.8% of those in the 15-24 age group out of work in March, compared to 42% in the same month last year.

The figure dropped slightly from February, but experts said some of those classed as unemployed will be in full-time education.

Women have been hit harder by unemployment, with 25.8% unemployed opposed to 18.9% for men.

Greece's financial crisis has also triggered political turmoil. Voters furious at spending cuts that have led to reductions in pensions and salaries and ever increasing taxes punished the two main political parties,

the New Democracy conservatives and socialist Pasok, in May 6 elections, turning to smaller and more radical parties on the right and left of the political spectrum.

No party won an outright majority on May 6 and coalition talks collapsed after 10 days, forcing the country into new elections on June 17.

New Democracy has been running head-to-head with the radical left-wing Syriza party in recent opinion polls. Syrisza has vowed to pull Greece out of its bailout commitments if elected.
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« Reply #293 on: June 08, 2012, 05:32:14 pm »

http://www.cnbc.com/id/47722040


The Greek crisis has gone too far and the country would be better off exiting Europe's single currency area, Harvard Professor Martin Feldstein told CNBC.

Ratings agency Standard & Poor’s says there is now a one in three chance that Greece will abandon the euro and markets are waiting for the outcome of a fresh round of elections in Greece that take place on June 17.

“I think Greece is beyond repair,” Feldstein told "Worldwide Exchange."

“The best situation for Greece is to leave the euro zone, devalue a new currency, and be able therefore to grow again,” he said.
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« Reply #294 on: June 09, 2012, 11:44:26 am »

http://finance.yahoo.com/news/greek-economy-keeps-crumbling-114424078.html;_ylt=Aq4bPnlBiDFHSE8hPYBqHXaiuYdG;_ylu=X3oDMTQ0cHY4OWtmBG1pdANGaW5hbmNlIEZQIFRvcCBTdG9yeSBSaWdodARwa2cDODAzYWZmMTctM2E4Yy0zZTViLTkxYWYtMWVlMzAwYTY3OWYyBHBvcwM2BHNlYwN0b3Bfc3RvcnkEdmVyAzgxMWUwZDgwLWIxNjEtMTFlMS1iZTNmLTllMzNmZDI5N2EyNg--;_ylg=X3oDMTFpNzk0NjhtBGludGwDdXMEbGFuZwNlbi11cwRwc3RhaWQDBHBzdGNhdANob21lBHB0A3NlY3Rpb25z;_ylv=3

ATHENS (Reuters) - Greece's economy shrank further in the first three months of 2012, shriveling at a yearly rate of 6.5 percent against a backdrop of painful wage cuts, tax hikes and record unemployment.

The data, released on Friday, will add fodder to politicians campaigning against terms of an international bailout ahead of a June 17 parliamentary election.

Painful budget austerity has deepened Greece's economic malaise, turning voters away from mainstream political parties that backed a European Union/International Monetary Fund rescue deal.
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« Reply #295 on: June 09, 2012, 08:18:47 pm »

http://news.yahoo.com/greece-scrambles-bank-loans-avert-energy-meltdown-sources-130023237--sector.html

6/8/12

Greece scrambles for bank loans to avert energy meltdown: sources

ATHENS (Reuters) - Greek energy companies are seeking emergency bank loans to pay suppliers and avert widespread power and gas cuts during the vital tourist season, industry sources told Reuters on Friday.
 
A vicious cycle of shrinking power demand, bad debts and flawed regulation has created a 350 million euro hole in the finances of Greece's energy system, which depends heavily on imported electricity and gas.
 
The looming energy crisis is compounding the country's debt problems before a general election on June 17 that may decide its future in the euro zone. It also threatens to cause blackouts during the power-hungry summer holiday season, one of the few foreign exchange earners for the uncompetitive Greek economy.
 
Faced with disruptions, Greek power authorities and energy companies are about to seek the emergency bank loans until more permanent measures are taken later to fix structural flaws in the creaking system.
 
State-owned gas provider DEPA is talking to domestic banks to secure the cash it needs to pay for about 120 million euros of imports later this month, a company official said on Friday.

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« Reply #296 on: June 13, 2012, 12:58:13 pm »

http://www.cnbc.com/id/47793980

6/13/12

Greeks Withdraw $1 Billion a Day Ahead of Vote

Greeks pulled their cash out of the banks and stocked up with food ahead of a cliffhanger election on Sunday that many fear will result in the country being forced out of the euro.

Greeks pulled their cash out of the banks and stocked up with food ahead of a cliffhanger election on Sunday that many fear will result in the country being forced out of the euro.

Bankers said up to 800 million euros ($1 billion) were leaving major banks daily and retailers said some of the money was being used to buy pasta and canned goods, as fears of returning to the drachma were fanned by rumors that a radical leftist leader may win the election.

The last published opinion polls showed the conservative New Democracy party, which backs the 130 billion euro ($160 billion) bailout that is keeping Greece afloat, running neck and neck with the leftist Syriza party, which wants to cancel the rescue deal.

As the election approaches, publishing polls is now legally banned and in the ensuing information vacuum, party officials have been leaking contradictory "secret polls".

On Tuesday, one rumor making the rounds was that Syriza was leading by a wide margin.

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« Reply #297 on: June 13, 2012, 01:02:36 pm »

http://www.zerohedge.com/news/greek-bank-run-update-%E2%82%AC100-%E2%82%AC500-million-day

Greek Bank Run Update: €100-€500 Million Per Day

6/12/12

Five days ahead of the Greek parliamentary re-vote, the media propaganda machine has gone mute due to the moratorium on the RAND() known as popular polling: forgotten are the days when Syriza' popularity rating would swing from -100 to +100 in the span of hours, Diebold notwithstanding. Which leaves the media machine just one tactic: updates on the economic collapse as a tacit suggestion of what may happen if situation is not fixed. And while at this point it is nearly impossible to distinguish propaganda from fact, the latest numbers out of Kathimerini are just stunning. As Bloomberg's Marcus Bensasson reports, citing Kathimerini, the Greek banking system has continued to hemorrhage deposits this month, amid uncertainty over the outcome of elections on June 17. "Many people are putting money in shares of mutual funds denominated in dollars because of the bureaucratic difficulty of taking money out of Greece, or are keeping cash at home, the newspaper said." How much? "Deposits are leaving the banking system at a rate of 100 million to 500 million euros ($125 million to $625 million) a day, Kathimerini said, without specifying over how long a period that rate of outflow has continued."

Considering that the Greece banking system has about €170 billion in total deposits, this is roughly 0.3% of the entire deposit base fleeing each day - those who understand the nuances of fractional reserve banking get why this could be an issue.

Putting this in the US context, which has over $8 trillion in various forms of deposits, this would be equivalents to about $25 billion getting withdrawn. Every day.

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« Reply #298 on: June 13, 2012, 01:26:47 pm »

Greece will probably need third aid package
13 June 2012, (MarketWatch)
http://www.marketwatch.com/story/greece-will-probably-need-third-aid-package-2012-06-13

Greece will probably need a third aid package soon, as the crisis-stricken country is falling behind on key reforms, German newspaper Die Zeit reports in a preview of an article to be published Thursday.

Germany's parliament could discuss further financial assistance for Greece as early as this summer, the newspaper reports.

But a third aid package will only be forthcoming if Greeks elect a new government Sunday that supports further reforms, the newspaper reports.

Since Greece can no longer finance itself in the markets, official lenders must fill the gap, the newspaper says.
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« Reply #299 on: June 13, 2012, 01:31:39 pm »

Fitch says Greece needs 'robust response'
13 June 2012, (MarketWatch)
http://www.marketwatch.com/story/fitch-says-greece-needs-robust-response-2012-06-13-94851635

Fitch Ratings believes Greece's hypothetical exit from the euro zone would have a modest direct impact on banks of other euro-zone countries, but the indirect fallout from a Greek redenomination could be severe for banks in neighboring countries, most notably Spain and Italy.

The ratings company said banks with units or branches in Greece would be most affected and the impact they face would depend on the extent to which they are funding Greek assets cross-border.

Fitch also said policy makers would need to make "a robust response," backed up by specific policy actions in order to prevent contagion from a Greek redenomination.

The firm said willingness to extend Spain a EUR100 billion credit line to support its banks is a clear sign of policy makers' willingness to do what is necessary.

Fitch said the impact on euro-zone banks' ratings would depend on the effectiveness of the policy response.

Banks in Portugal and Ireland are more vulnerable to contagion risks as these nations could be perceived as "next in line" for a euro exit.

On Tuesday, Moody's Investors Service lowered its ratings on the Bank of Cyprus and Hellenic Bank Ltd. one notch further into junk territory, noting the Cypriot banks' extensive operations in Greece make them vulnerable to an increased risk of a Greek exit from the euro zone.

Moody's also plasce the ratings on both banks on review for further downgrade.
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