It's NOT about Greece, but it IS about....................from Rico

Forget all the phony baloney emanating from the media about Greece. To badly paraphrase Mark Twain "if you don't read the papers you are uninformed, if you DO read the papers you are misinformed."

- Everyone is being misinformed about Greece and the 'dreaded' [gasp] GREXIT! This is a huge misdirection and coverup, and it is intentional.

 

This is NOT about Greece, but it is ALL about the big EU banks and their derivative trades.

- The ECB and IMF are only trying not to hurt the EU banks. Help Greece? Meh!!! Greece is only 2% of the EUrozone.

 

Keeping the big EU banks whole and undamaged (who are holding Greek bonds [read: sovereign debt] as collateral) is the 'game' being played here, it is certainly not about Greek debt, Greek protests, or Greek politics. It's the Bankers vs. Greece, and the Greeks are NOT the bad guys here.

- Eighty percent of the bailout money so far has gone to the EU banks, NOT to the Greek economy (...sound familiar, America?).

- For the EU banks, EU sovereign debt (bonds - such as Greece's) backstops hundreds of trillions of Euro's in derivative trades

....and the current 'panic' is because those banks are now caught on the wrong side of those derivative bets.

 

Just as Cyprus was the template for "bailing-in" banks, so is Greece the template for handling much larger problems ahead with Spain and Italy, which are Euro 1.78 trillion and 1.87 trillion respectively in external debt.