WTF-We are bailing out Greece?

[Sarge]

I just can't believe it.

http://www.zerohedge.com/article/imf-bailout-greece-come-sdr-rate-plus-300-bps-plus-50-bps-service-charge-greece-says-thank-y?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedg e+-+on+a+long+enough+timeline%2C+the+survival+rate+fo r+everyone+drops+to+zero%29

If this is indeed true, they should be marched out of Washington.

Where do they get the authority to bail out Greece?

[Elle]

Where do they get the authority to do half the crap they do?

I agree, they need to be marched out of Washington. Now. Not in November or 2012, but NOW!

[specsaregood]

Pelosi pretty much said as much a month ago.
http://www.house.gov/pelosi/press/releases/March10/greece.html



Pelosi Remarks Before Meeting with Prime Minister George Papandreou of Greece

Speaker Pelosi. Good morning. It is an honor indeed to welcome the Prime Minister of Greece to the Capitol of the United States.

As you know, we have many bonds between our countries, some ancient that we live by today, the roots of our democracy. Other bridges are the millions of Greek-Americans who strengthen our democracy with their values, with their work-ethic, with their commitment to faith and family and to community. They strengthen America, they strengthen our democracy.

And so, at this time, the month of March, where we observe Greek Independence Day and even in the United States, a little earlier this year, it is again, my distinct honor to welcome the Prime Minister.

I’m joined in welcoming the Prime Minister by the Chairman of the Foreign Affairs committee, Chairman Howard Berman of California, and the senior Republican on the Committee, Congresswoman Ileana Ros-Lehtinen of Florida. Again, the bond of our countries is a very strong one, and this month as we celebrate Greek Independence Day, our friendship remains strong, built on a commitment to values of freedom, pluralism, and equality— in both of our nations.

Greece is a strong partner in promoting stability and security in the world. We appreciate Greece sending troops to Afghanistan for the reconstruction there and to serve — allowing us to have a base there for soldiers traveling to Iraq. Not really having a base there, but that we can pass through Greece.

Prime Minister Papandreou is to be commended for his courage in responding to Greece’s financial and economic challenges, and we want to learn more about that now here. He comes to the U.S. after a series of productive meetings with his European partners about ensuring that Greece will not be left alone during this crisis. The Greek people can be assured that the United States will stand with them at this critical time.

I look forward to a thoughtful and productive discussion. I have visited Greece many times, I have even visited our troops in Crete and, again, am grateful for the friendship between our two countries and now it’s my honor to invite the Prime Minister of Greece to accept our welcome to the Capitol.


Remember when Dr. Paul asked Bernanke if their had been any discussion of a bailout for the greeks? And Bernanke said absolutely not? hrm....

[Sarge]

Another Ben lie.

I hope, if this is true, that Ben gets his butt ripped by Dr. Paul at any future hearing.

[ctiger2]

The central banks are going to pull out every trick in the book to keep the Euro/Fiat currency shell game going. They have no morals.

[TheState]

Didn't Obama pledge $108 billion to the IMF last year?

[Elle]

This is how they are able to do this. I guess this is the logic being used since the health care scam.

YouTube - Key House Democrat: "There Are No Rules Here ... We Make Them Up As We Go Along" (http://www.youtube.com/watch?v=CbHTJSu_2Lk&feature=player_embedded)

[PeacePlan]

The central banks are going to pull out every trick in the book to keep the Euro/Fiat currency shell game going. They have no morals.

To top it off IMF SDR's are Special Drawing Rights on our gold..

[Sarge]

It gets more interesting by the minute. Now an emergency meeting this weekend.

http://www.zerohedge.com/article/going-long-weekend-ecb-calls-emergency-gc-meeting-tonight-flashbacks-paulson-and-summer-2008?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedg e+-+on+a+long+enough+timeline%2C+the+survival+rate+fo r+everyone+drops+to+zero%29

And Greece debt downgraded just in time for us to buy their crap? They will never be able to pay back any loan as they will never cut spending and most intentionally avoid paying taxes.

http://www.zerohedge.com/article/fitch-downgrades-greece-bbb?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedg e+-+on+a+long+enough+timeline%2C+the+survival+rate+fo r+everyone+drops+to+zero%29

[hugolp]

The last news I have is that the rest of the EU countries have offered Greece a bailout consisting on loans at the same rate the IMF was offering (4 or 5% not clear), but Greece is rejecting the conditions.

[Sarge]

I hear you. This has been so on again off again by the minute one doesn't know who to believe.

I guess we wait for the dust to settle and see who gets screwed us, or Europe. There is no way they will ever pay off any loan as they will not cut spending and everyone there avoids paying taxes.

[ctiger2]

The last news I have is that the rest of the EU countries have offered Greece a bailout consisting on loans at the same rate the IMF was offering (4 or 5% not clear), but Greece is rejecting the conditions.

Greece should default on the debt and start issuing Drachma's again.

http://trueslant.com/matttaibbi/2010/04/06/the-no-pay-movement/

[HOLLYWOOD]

Told y'all... lol Foreign TARP program keeps all our Puppets in order and secrecy of the conspiring with Foreign nations. Last I read in American law, that was Treason.


Didn't Obama pledge $108 billion to the IMF last year?^^^^^ YES, stealing from the Taxpayers and Buying Allies and CONTROL of foreign nations. http://online.wsj.com/article/SB124259862298228133.html

Wall Street Journal MAY 19, 2009
What's Another $108 Billion?
Your latest donation to the IMF.

Ah, transparency. Perhaps you've read that the new era of candor in government spending has arrived. Except, apparently, when it comes to the $750 billion that the Obama Administration and other nations have agreed to provide the International Monetary Fund. In this case, it's all opacity all the time.

At the G-20 meeting in April, the world's big shots promised to provide $500 billion under credit lines to the IMF known as "new arrangements to borrow." The U.S. share was said to be $100 billion, which last week we learned is actually $108 billion. The Obama Administration is now asking Congress to appropriate the cash, except that the Congressional Budget Office is only scoring the cost at $5 billion. How so? Because the transaction is being called an "exchange of assets," which means the U.S. gives the IMF the $108 billion and the IMF gives the U.S. a promissory note.


Which raises a question: If it costs so little, why not make it $200 billion. Or a trillion? It's free!

Of course it is not. The loan carries risk and that risk may be higher than in the past. IMF rules have long been clear that the IMF's "new arrangement" funds can only be used in an emergency that threatens the stability of the "international monetary system." There has also been an understanding that the money will be repaid in short order.
But in April the G-20 announced that the credit line is to be "expanded and more flexible." An IMF spokesman says the idea of increasing flexibility is that the "money becomes part of the general resources of the fund and if the managing director decides that the fund needs to step in somewhere, it can." This makes it less like an emergency credit line and more like a general contribution to the IMF's overall money pot.


But look on the bright side: At least there's a chance this money will be repaid. Not so with the other big commitment President Obama made in London. We refer to the U.S. portion of the eight-fold increase in the IMF's special drawing rights, or SDRs. SDRs are IMF credit allocations redeemable for subsidized loans from hard-currency fund countries. These loans are almost never repaid.


Prior to last week, there were about $32 billion in SDRs, the U.S. portion of which costs American taxpayers more than $300 million a year. For 12 years Congress has refused to go along with an IMF request to double the SDR account, but Mr. Obama swept all that debate under the carpet in London and agreed to take the total to $250 billion. The U.S. exposure? A cool $40 billion. And since all IMF members are eligible, Iran, Zimbabwe, Sudan, Venezuela and Burma are all candidates for Mr. Obama's generosity.
Speaking of inmates running the asylum, certain "emerging-market" members -- such as China, Brazil, Russia and India -- announced they would not join the U.S. in providing more IMF resources via credit lines for countries in crisis. Instead, they want the fund to issue short-term notes to finance their "contribution," which they could later oh-so-conveniently off-load in the secondary market. These notes will have the implicit guarantee of the U.S., adding one more liability to Washington's balance sheet.
The wheels are greased in Congress to pass this before the public notices, but South Carolina Republican Jim DeMint is trying to force a Senate floor vote on the $108 billion. He'll lose, but at least he's honoring Mr. Obama's pledge of transparency.

What's up with ZEROEDGE? current front page:

http://i533.photobucket.com/albums/ee332/McLieberman/Zerohedge.png

[Philhelm]

YouTube - Congressman Paul Questions Bernanke (http://www.youtube.com/watch?v=bBGfJOA518o)

Ron Paul specifically questions Bernanke about the Federal Reserve bailing out Greece at 4:25. Also, while not in this particualar video, in another that I had seen, Bernanke looks over his own shoulder for a couple of beats, as though getting confirmation that he should answer...

[MelissaWV]

Well, if we're going to make up magical faerie money, why SHOULDN'T we share it with the world? It doesn't exist, anyhow!












...

We are so fucked.

[sevin]

YouTube - Congressman Paul Questions Bernanke (http://www.youtube.com/watch?v=bBGfJOA518o)

Ron Paul specifically questions Bernanke about the Federal Reserve bailing out Greece at 4:25. Also, while not in this particualar video, in another that I had seen, Bernanke looks over his own shoulder for a couple of beats, as though getting confirmation that he should answer...

Yeah, I remember him warning about that. And as soon as he said it, I knew it was gonna happen. He's been right so many times it's chilling when I think about other predictions he's made.

[hugolp]

Last I know is that Europe offered Greece a loan at 6% during the first 3 years and after at 7% (I dont know if that even qualifies as a rescue...) and Greece has rejected.

I really dont know what its going on. I am still suspect about the german goverment rescuing Greece in a very covered way so the german citizens dont end up discovering it.

Well see what happens.

[Sarge]

The Greek Tragedy continues.

http://www.bloomberg.com/apps/news?pid=20601087&sid=a1hGDRZF6gRE&pos=2

If Germany will not put in money, why should we. We are not over there. It is their problem for overspending, not mine or the rest of the US. They enjoyed the over spending and the people avoid paying taxes.

[HOLLYWOOD]

The Greek Tragedy continues.

http://www.bloomberg.com/apps/news?pid=20601087&sid=a1hGDRZF6gRE&pos=2

If Germany will not put in money, why should we. We are not over there. It is their problem for overspending, not mine or the rest of the US. They enjoyed the over spending and the people avoid paying taxes.


"Greece will need to seek emergency funding to make bond payments and cover debt refinancing of more than 20 billion euros ($27 billion) in the next two months, UBS economists estimate."

What is really happening at the FEDERAL RESERVE that has coordinated all these G8/G20 closed door deals for the past 18 months. Uncle Ben and the Cabal know exactly whats going on with the world's economies and their BS FIAT money systems... this after the TRILLION dollar FOREIGN TARP programs to cover all the phony crap American financials and wall street sold to the world.

With that Vanity Fair Article of that sent up a red flag on CDS/MBS/CMBC... Goldman Sachs, Duetsche Bank, & company limited their losses in the collapse and setup the competition to fail holding all this bad stuff.

Add that American government officials (US Treasury, etc) quietly visiting governments like Hungry, Romania, etc to protect American banking interests of the debt being held and loans outstanding, now you know why Uncle Ben sent a TRILLION overseas until the puppet countries get their FIAT money game together.

ALL the Pieces of the puzzle fitting together nicely.

Next round, funneling FIAT MONEY to other Bankrupt Foreign Nations... ALWAYS through a secondary/intermediary laundering organization.

Now where's that written in the US CONSTITUTION?


Papaconstantinou said yesterday that Greece still wasn’t seeking EU aid and would make good on its pledge to trim its deficit from about 13 percent last year, more than 4 times the EU limit, to 8.7 percent this year.
Greece needs to raise 11.6 billion euros to cover debt that is maturing before the end of May and plans to sell bonds to U.S. investors in the coming weeks. The country’s debt agency said yesterday it would offer 1.2 billion euros of six-month and one-year notes on April 12.
Greece’s long-term foreign and local currency issuer default ratings were yesterday cut two levels to BBB-, the same level as Bulgaria and Panama, from BBB+ by Fitch Ratings. The outlook is negative

Hello American Taxpayers!

[jclay2]

Yeeeehaaaaw, buy buy buy. Get those S&P 500 futures while you still can!

/endSarcasm

We are so screwed. :(