Greek banks were hanging onto a cliff's edge by their fingernails when Greek and European parliaments and finance ministers debated the future of Greece within Europe.
But less than a week after the referendum that said "???!" (No!) to more austerity, Prime Minister Tsipras had already betrayed that vote, proposing considerable cuts in exchange for yet another lifeline.
That is just where our can-kicking profit opportunity lies...
Greek banks were hanging onto a cliff's edge by their fingernails when Greek and European parliaments and finance ministers debated the future of Greece within Europe.
But less than a week after the referendum that said "???!" (No!) to more austerity, Prime Minister Tsipras had already betrayed that vote, proposing considerable cuts in exchange for yet another lifeline.
That is just where our can-kicking profit opportunity lies...
A new bailout bill has been negotiated for Greece and a "Grexit" has been averted.
For now.
Markets are breathing a sigh of relief now that Greece has negotiated a new bailout plan with its Eurozone creditors.
But, what will happen to Greece now? We've seen the results of years of austerity and it's not pretty.
And with this latest bailout round, is doesn't look like it's going to get any better...
The recent disquiet over Greece has been threatening the markets and dominating the headlines, but the best course of action for investors right now is to view it as more noise than signal.
The Greek situation has taken years to play out, and the levels of non-hedged global exposure to Greek debt have been drastically reduced since 2010. There has also been plenty of time to mitigate the risk of contagion that could result from a Greek default or even an exit from the euro.
Yesterday Keith sat down on FOX News while the markets roiled and distilled a very simple message about what's going wrong in Greece.
It's not primarily a political problem; it's a mathematical one. And until Greece - and an alarming number of Western governments, including the U.S. - realize that, the chaos will only continue.
With news of both a Greek default and the almost-Puerto Rican default, observers are invariably going to shift focus at some point to the U.S.’s $18.1 trillion debt.
So, will the United States go the way of Greece and Puerto Rico? Could the U.S. government default on its debt?
Yes, but it would be vastly different than in Greece or Puerto Rico. Here’s why…
America celebrates the July 4th holiday under the threat of homegrown terrorism while global financial markets face a trifecta of threats from Greece, Puerto Rico and China.
Greece's debt woes deepened over the weekend.
Banks are closed for a week, with capital controls in place.
We explain what the Greece capital controls are and what they mean.
What happens when Greece defaults?
That's the question on the market's mind right now. It's no longer a question of "what happens if Greece defaults?"
Here's why the stakes are high, and why a default or "Grexit" is about more than just Greece...
As Greece approaches its next payment deadline, the rhetoric and the stakes are boiling over.
The IMF recently quit negotiations in Brussels, saying it had reached a stalemate.
Then Greek Prime Minister Tsipras said the IMF had "criminal responsibility" for his country's debt crisis.
With a looming deadline, now Russia has stepped to the fore, with overtures of financial aid.
It might be too late - but with a "Grexit" appearing closer than ever, the markets remain calm.
Here's why, and how to profit...
There's a lot being written about the Greek debt crisis. Mainstream media tells us it's scary and problematic and there's no way to profit from it.
And while we know that it's scary and problematic, we also know that there's money to be made amid the mess.
Here are the tactics you'll need to profit from the Greek debt crisis...
A Greek default is inevitable. Years of piling up bailout loans without a reprieve in the Greek debt crisis prove that.
But it's not just the 300 billion or so euros in Greek debt are the problem. It's the complicated spider web of cross-collateralizations and derivative trades tied to Greek debt that are the real terror.
Here's how a Greek default could be a much bigger problem than you're being lead to believe...
All eyes are on Greek debt crisis this week, and rightfully so.
The country lied to get into the European Union, managed its finances terribly during its membership, and now wants to renege on its obligations. I'm not surprised and chances are you aren't either. We've been talking about the fallacy of central banking and the dangers associated with derivatives trading for years.
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