So Europe (read: The World since the economy is now global) just issued Greece a loan to help it keep up with the interest payments they need to make on their previous loans.
Greece will require extreme economic growth to meet the terms of that agreement, let alone pay back the loan.
Growth, at least the kind they’re measuring, requires copious amounts of cheap energy.
If anything were to happen to Greece’s energy supply, all economic hell would break loose.
Well wouldn’t you know it but Europe also has also put an oil embargo on Iran* who just happens to supply Greece with 15% of their cheap oil.
So Greece is being setup to default, hard.
When you know a fighter is going down in the 5th, what do you do with that information if you like money?
Now, look at this long list of big swinging dicks that quietly resigned just before the Greek deal was struck.
Global bank resignations
Resignations Global Banks ….
1 World Bank CEO Zoellick resigns
2 Anz Bank CFO Australia resigns
3 Nicaraqua Central Bank Pres Rosales resigns
4 Credit Suisse Chief Joseph Tan resigns
5 GERMAN PRESIDENT Christian Ruff resigns
6 Royal Bank of Scotland Austrailin CEO Stephen Williams resigns
7 Kuwait Central Bank CEO resigns
8 Slovenia TWO largest Banks CEO’s (2) resign
9 Bank of India CEO Chaturvedi resigns
10 Tamilnad Mercantile Bank CEO resigns
11 GOLDMAN SACHS CEO Blankenfein to resign (Nothing printed on this yet UNLESS this JUST happened. Last article said he is not stepping down in 2011).http://www.huffingtonpost.com/2011/0…_n_858647.html
Please draw your own conclusions.
*Now that oil supply is inelastic it is getting ugly fast. Expect hoarding and new alliances. Hell the US sanctions are backfiring too. Forcing Iran into gold for oil contracts with rapidly growing countries like China and India is the last thing we want to do right now. So much for the world’s reserve currency.