Wednesday, 23 May 2012

Gold+ the Truth about the Greek Bailout comes you opportunity to get short..not right now but perhaps during the London session tomorrow ( same as ES M12) maybe as high as 1575 or higher Theres no setup yet but this maybe( when viewed in the 240/daily TF) a dead bounce. Draw the local fork and watch. Regret no more posts till next week.

and NOW Ladies and Gentleman  a story...... courtesy of 'Mark P' Ex fixed income dealer/London and now happily living in France in his Windmill.

Greek bailout story

It’s a slow day in a little Greek village. The sun’s beating down and the streets are deserted. Times are tough, everybody’s in debt and everybody lives on credit. On this particular day a rich German tourist driving through the village stops at the local hotel and lays a €100 note as security  on the reception desk, telling the hotel owner that he wants to inspect the bedrooms in order to pick one in which to spend the night. The owner gives him some keys and, as soon as the visitor has walked upstairs, the hotelier grabs the €100 note and rushes next door to pay his debt to the butcher. The butcher takes the €100 note and races down the street to pay his debt to the pig farmer. The pig farmer takes the note and heads off to pay his bill to the supplier of fuel and feed. The guy at the Farmers’ Co-op takes the €100 note and runs to pay his drinks bill at the taverna. The publican slips the money along to the local prostitute drinking at the bar, who has also been facing hard times and has had to offer him ”services” on credit. The hooker then rushes to the hotel and pays off her room bill. The hotel proprietor places the €100 note on the counter so that the rich traveller will not suspect anything. At that moment the tourist comes down the stairs, picks up the €100 note, states that the rooms are unsatisfactory, pockets the money and leaves town.

Nobody produced anything. No one earned anything. However the whole village is now out of debt and looking to the future with a lot more optimism.

And that, ladies and gentlemen, is how the bailout package works

No comments:

Post a Comment