- Eurozone Unemployment Tops 12%
My kids are on spring break for the next couple weeks and I was walking them to the park yesterday afternoon when I was suddenly surrounded by riot cops and TV cameras. Admittedly I was looking down at my phone and not paying attention, but it was ...
Blog entry - Edmundo Braverman - Apr 30 2013 - 7:31am - 42 comments
- A brief history of the Drachma
In 1827, when the modern Greek State was created, money transactions were carried out mainly in Turkish coins, as well as in foreign currencies such as the Spanish Distilo. There was no Greek currency until 1828. A national monetary system, based on ...
Blog entry - prashantkhorana - Nov 17 2012 - 8:45pm - 4 comments
- Greece turning into AIG?
The more I've read about Greece the past six months the more it reminds me of how AIG went from absolute dogshit to hedge fund darling (and still is.) No, I don't mean it was bailed out/taken private by the government and and then taken public a ...
Forum topic - rpc - May 16 2013 - 11:21pm - 2 comments
- Are Greek ATMs Drachma Compatible?
In the latest sign that a Greek exit from the Eurozone is all but imminent, global bank HSBC ran extensive tests on their ATM machines in Athens and throughout Greece in preparation for a return to the drachma. The tests were rigorous and were done to ...
Blog entry - Edmundo Braverman - Jun 4 2012 - 10:22am - 18 comments
- Grease Fire Spreading
We have said so much about Greece that there’s barely a point left to make. In spite of all the talking, however, I still have to ask how can you let it get to this? The question is intended at everyone from the Greek government and public, the European ...
Blog entry - Midas Mulligan Magoo - Nov 2 2011 - 12:17pm - 25 comments
- Soros 3/4 in Cash
Though he is not one of my favorite people in the industry it isn’t really possible to doubt the investing acumen of George Soros. Over the years many have made a good bit of money in markets by simply mimicking his strategies. The most recent, however, is ...
Blog entry - Midas Mulligan Magoo - Jul 22 2011 - 12:45pm - 16 comments
- Is the Euro Kaput?
I take no joy in the suffering of others. Then again, when you are a contrarian…grinning like the Cheshire Cat while winking I toldya so is about as satisfying as life can get. For many years now, well before it became the stuff of Wall Street Journal ...
Blog entry - Midas Mulligan Magoo - Jul 2 2011 - 1:29pm - 18 comments
- Papandreou survives! But will Greece?
Or the EMU for that matter? Pimco’s Balls was on Bloomberg earlier today and he highlighted most of the obstructions Greece is facing in their crisis. Honestly I just feel bad for the Greeks, they’ve been enduring hefty austerity measures just to avoid ...
Blog entry - Jorgé - Jun 21 2011 - 9:24pm - 16 comments
- Default Already Will Ya?
Will Greece default this week? The question that has been on many minds over the past two years could come to a head in the oncoming days. Maybe it's the NFL season getting to me already, but I can't help to feel like I am watching a team tries ...
Blog entry - Midas Mulligan Magoo - Sep 13 2011 - 12:02pm - 6 comments
- How Long Before Greece Leaves the Euro Zone?
I find it ironic that a country which defrauded its way into the Euro Zone is likely to be the first country to exit the Euro Zone. Despite a raft of hasty denials by just about everyone in Brussels, it now seems all but inevitable that Greece will bail on ...
Blog entry - Edmundo Braverman - May 10 2011 - 5:47am - 25 comments