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Slimebeast on 06 May 2010
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yanamaster said:
Slimebeast said:
yanamaster said:
Slimebeast said:
yanamaster said:
Well it must be said that what's happening to the euro and to greece is the fault of Goldman Sachs as they were the company to approach Greece in 2000 offering to touch up their general fiscal results so that greece could enter the Euro zone more quickly. This procedure was carried out for a couple years and resembled what Enron did with their mark to market accounting scheme, only the other way around. Instead of adding in profits that may have not ever be realized Greece kept pushing some losses to future years so that they would be spotless in the short term.

The situation would ridiculously easy to handle if it were not for the Euro. Under normal circumstances Greece would have just devaluated their currency by some 40-50% and everything would be okay. Now they have to take the long hard way around the subject...all thanks to their impatience.

You gotta be kidding. Every country knows that there are tricks to borrow money and fix the numbers to fool the public. It's Greece' fault they got into this situation and no one else's.

Actually Greece should be punished for fooling the whole EU by fixing and hiding their deficit. Now the crysis is perhaps punishment enough for them, and I have sympath with the innocent Greeks, but let's not blame others for a corrupt society's faults.

i am not kidding you, Greece had already confirmed this information as true, just type into google and find it for yourself. Goldman Sachs using swaps helped mask Greeces huge debts for a very long time.

and don't be naive. Hiding money of a country is not something a a highschooler can do and get away with it. I'm not so sure if you shouldn't put in the same league as Enron.

Of course Goldman Sachs did something wrong and immoral. Of course it's true that they offered a deal! But that doesn't mean the deficit and Greek crysis is their fault. There's always crooks out there who will help you to fix your numbers if you want to borrow money. They offer deals all the time to potential customers.

It's you who are naive. It's like it's perfectly normal for you that a modern civilized nation's government acts like children and accepts any immoral deal from banks that tease with promises to fix and polish your financial accounts?

The Polish did the right thing. They were responsible. The Greek were not.

And your whole post is supposed be about what? Because it doesn't make any sense to just say that it's the fault of Greece, you didn't reinvent the wheel claiming this and notice that that i not once claimed that Greece is not at fault, i simply am showing that there's always the other side to the deals and that other side is Goldman sachs which has been playing with currencies in europe like crazy over the past decade.

Poland over the last year had and incredible swing in the strength of the Polish zloty going from a 1:2 ration per US dollar to even a 1:4 ratio. Over a single year where our economy is the steadiest and well paced in the region. And you know what? it turns out that Goldman Sachs was playing with our currency, betting that it will strengthen and then weaken. So first they buy out our currency in massive quantities and then just as so sell them.

Normally i wouldn't have a problem but these companies are not operating on a small scale but on macro scales. Because of their "games" the export sector is in shambles not to mention that potential investors are afraid to come in saying that Poland is not steady enough, but just how is a country like Poland supposed to fend of a company like Goldman Sachs?

And where the hell did that third paragraph of yours come from? Who said that it's normal? Where? You really went way to far with presumptions on this one my friend. The fact of the matter is that a country by itself does not have the ability to move such large amounts of money without being noticed ( we're talking about 15 b euro here). Goldman Sachs decided to offer their services and the greek gave in to stupidity, that i completely agree on. All i'm saying is look at Goldman Sachs as huge contributor to the current situation.

Could have Greece done something before it got out of control? Sure. Did they expect a crisis to hit them and hit them so hard......hah. They gambled. And they decided to do it at the worst time possible.

I don't know, maybe we're from different planets. Different countries at least lol.

The Swedish economy is actually smaller than Polands. But Goldman Sachs can't do shit to us. And taking a suspicous deal from them to hide the state of your rotten economy would just be something beyond the wildest dreams for any Swedish politician. It just can't happen. And if it did we certainly wouldn't blame any international bankers. It would be the biggest political scandal in Swedish history without any comparison.

I am almost thinking that it's no wonder that our economy is so stable when we have such different mentality compared to people so close as the other side of the Baltic sea.