I have been saying this for a while, as with you other astute folks here LOL.I feel big associating myself in that category LOL
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Submitted by Tyler Durden on 06/18/2012 08:29 -0400
Bond
default
European Central Bank
European Union
Germany
Greece
headlines
Vigilantes
From Mark Grant, author of Out of the Box
The Great Game
It is the Great Game. They try to lure you into their various traps; I try to keep you out. They offer headlines from countless sources and I try to tell you what things really mean. They make use of a giant propaganda machine and I chant alone in the wilderness. They make up stories and present them as accurate data and I try to give you the facts. They want your money and I want you to “Preserve your Capital.” They are as diabolical in their pursuits as Professor Moriarty was in his. They are the political masterminds and I am a sort of Sherlock Holmes trying to analyze and conclude one case after the other. You may listen or you may not but I pay for my own supper while others ask for their compensation first. It is their Game, my Game; it is the Great Game.
“Has all my instruction been for naught? You still read the official statement and believe it. It's a game, dear man, a shadowy game. We're playing cat and mouse; cloak and dagger.”
-Sherlock Holmes, A Game of Shadows
The Great Game is not played by just being right; that is only the first part of the equation. Being right is fine for academicians and the like but not for our participants. The second part of the equation is to win. We play to win. I never play to come in second best or just to play for the sake of the sport. That is not what I do; not what we do. Some of you have time horizons that are the length of the day; that is not mine however. I look out, past the shadows, past the trees and out into the mist. I define the future by where I have been and almost four decades has given me plenty of time to have seen the twists of fate; much less the road. An astonishing amount of the win is the observation and the learning from the losses that have taken place.
Greece
Greece is buried and cannot survive in the chains that bind it. To be fair it is only partially the fault of Greece that the situation has gotten to this point. Greece took advantage of the European Union no doubt but the rest of the countries in Europe allowed Greece to keep borrowing and both sides are responsible for the fact that Greece is now behind the eight ball. Both sides should be ashamed. The chains can be removed but if not; one political party, another political party and she will sink into the Hellenic Hades of old. Anything short of this including the lengthening of terms will result in failure. Too many stones hold her down and she is sinking under the weight of what has been demanded either in terms of retribution or a well-intentioned blade meant to help that has severed her major artery. It is to be debt forgiveness or default and the resulting chaos I fear as there is no other prescription left for this patient. The ball is in Germany’s court now; relinquish or face defeat in Greece. Relinquish and face defeat at home. This is the eye of the hurricane. This is the Catch-22.
When it comes to Greece there is one word and only one word that makes any difference and that word is “Default.” Europe cannot afford it. The country has $1.3 trillion in total debt and a vast
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Dr. John Watson: You're drinking embalming fluid.
Sherlock Holmes: Yes. Care for a drop?
Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.
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