tag:blogger.com,1999:blog-5882645467378797266.post311940246265706352..comments2023-07-17T11:55:51.363+02:00Comments on ObservingGreece: Before Raiding The Bank Of Greece, Look At Their Balance Sheet!kleinguthttp://www.blogger.com/profile/12491174042954678023noreply@blogger.comBlogger10125tag:blogger.com,1999:blog-5882645467378797266.post-73984550158871234782015-08-12T20:32:36.768+02:002015-08-12T20:32:36.768+02:00I thought the BoG-takeover plan had come from Lafa...I thought the BoG-takeover plan had come from Lafazanis and Varoufakis never advocated such a measure. Now I know differently. Thank you! <br /><br />Incidentally, I asked a Central Banker about this plan and how the EU might have reacted. Very simple, he said. Greek Euros would have been declared counterfeit money, an arrest order for counterfeiting would have been issued and Interpol would have chased those people. kleinguthttps://www.blogger.com/profile/12491174042954678023noreply@blogger.comtag:blogger.com,1999:blog-5882645467378797266.post-40338981290153966842015-08-12T17:28:15.528+02:002015-08-12T17:28:15.528+02:00Hi,
why do you write "allegedly" in the ...Hi,<br />why do you write "allegedly" in the first statement? According to the New Satesman transcript of an interview with Varoufakis here http://www.newstatesman.com/world-affairs/2015/07/yanis-varoufakis-full-transcript-our-battle-save-greece , that was indeed his plan.<br /><br />I wouldn't be surprised if he denied that he said it but has he? He had been advocating the same suicidal strategy for Cyprus back in 2013 anyway.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5882645467378797266.post-82448594475701150302015-07-28T20:14:58.491+02:002015-07-28T20:14:58.491+02:00No, not give your money to the Russians. Just move...No, not give your money to the Russians. Just move foreign assets from one account (which is under the ECB's jurisdiction) to another account (where the ECB has nothing to say).kleinguthttps://www.blogger.com/profile/12491174042954678023noreply@blogger.comtag:blogger.com,1999:blog-5882645467378797266.post-91286728303147183562015-07-28T20:13:44.560+02:002015-07-28T20:13:44.560+02:00Die EZB macht das. Alles sehr streng kontrolliert....Die EZB macht das. Alles sehr streng kontrolliert.kleinguthttps://www.blogger.com/profile/12491174042954678023noreply@blogger.comtag:blogger.com,1999:blog-5882645467378797266.post-46294794174008574922015-07-28T13:46:11.347+02:002015-07-28T13:46:11.347+02:00Eine Frage hinsichtlich der Möglichkeit der griech...Eine Frage hinsichtlich der Möglichkeit der griechischen Zentralbank Euro Banknoten zu drucken (Ich habe gehört 10€-Scheine können dort gedruckt werden): Wer überprüft wann und wieviele Euro-Noten in Griechneland gedruckt werden?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5882645467378797266.post-52063486007818951212015-07-28T11:53:36.605+02:002015-07-28T11:53:36.605+02:00Interesting description of the situation, but I th...Interesting description of the situation, but I think some of the assets, like gold, will definitely be in the Bank of Greece's vault.<br /><br />The foreign securities, I do not know. They might partially be held in central security depositories, of the countries where they were purchased.<br /><br />So for example Clearstream for German bonds.<br /><br />They would not be held at the ECB, though.<br /><br />https://en.wikipedia.org/wiki/Central_securities_depository<br /><br />Now, as far as cutting off the inter-Euro payment system is concerned. The ECB could do that. But what then?<br /><br />The Greeks could say we have not thought of this. And give in.<br /><br />Or they could say: "Well, that means that our Greeek central bank cannot repay the 120bn liabilities it has to the ECB, even if we had wanted to."<br /><br />If German pharmaceutical suppliers now wants to be paid for drugs delivered to Greece, the payment has to go from the Bank of Greece to the Federal Reserve in New York, then to the ECB, then to the local German bank, at which the supplier has an account.<br /><br />Equally it could sell assets (gold, or securities held physically in the country) to the Russians or Chinese directly, the settlement going via their Central banks accounts with the Bank of Greece.<br /><br /><br /><br />Makes everything more awkward, but not impossible.<br /><br />Unless the EU could freeze all accounts worldwide for the Greek Central Bank, the Greeks will always have other options.<br /><br />But in the main, you have only concentrated on the asset side of the balance sheet of the Bank of Greece. The other side, the liability side, is of course what the ECB is worried about. (Because that is an ECB asset, the 120bn)<br /><br />If Greece repudiates all its debt, it would, of course, also repudiate the Bank of Greece liability to the ECB. The BoG could then in turn write off the assets it has from the Greek banking system, the 127bn.<br /><br />Greece would have then the most capitalized banking system in the world, having capital to assets levereage ratios of 30%.<br /><br />Matt Usselmannhttp://radicaleconomicthought.wordpress.comnoreply@blogger.comtag:blogger.com,1999:blog-5882645467378797266.post-6869589040276614092015-07-28T11:02:30.922+02:002015-07-28T11:02:30.922+02:00What has been chattered by Varoufakis looks like t...What has been chattered by Varoufakis looks like the planning of a criminal gang lacking any common sense.<br /><br />H.Trickler<br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5882645467378797266.post-51945251410204442742015-07-28T09:50:27.490+02:002015-07-28T09:50:27.490+02:00Need to differentiate between various elements. Go...Need to differentiate between various elements. Gold is held in Athens, London, NYC and Zurich. Also probably not worth that much if sold as one lot. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5882645467378797266.post-39958463657165062672015-07-28T09:47:35.743+02:002015-07-28T09:47:35.743+02:00I am laughing my a off. with the message and answ...I am laughing my a off. with the message and answer....<br /><br />VAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-5882645467378797266.post-71659603032702788852015-07-27T23:04:39.301+02:002015-07-27T23:04:39.301+02:00Give our money to the Russians. There's a good...Give our money to the Russians. There's a good idea.Anonymousnoreply@blogger.com