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Errol

When It Becomes Serious, You Have To Lie

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Head Of Eurogroup Admits To Lying About "Secret Greek Meeting" Out Of Fears For Market Collapse - "When It Becomes Serious, You Have To Lie"

On Friday the misinformation floated about the Greek expulsion event hit a fever pitch: while we correctly speculated that nobody would be expelled from the Eurozone, the amount of conflicting info was at an all time record, with glaring inconsistencies between various quoted authoritarians.

Now, courtesy of the WSJ blog, we learn that, for the first time in history, a spokesman for Jean Claude Juncker, the PM of Luxembourg, and the head of the Eurogroup council of eurozone finance ministers, admits openly to having lied to media outlets. "In a phone call and text messages with two reporters for Dow Jones and the Wall Street Journal, Mr. Schuller repeatedly said no meeting would be held. He apparently said they same to other news outlets; at least one more moved his denials on financial newswires. Of course, there was a meeting–although not, apparently, to talk about Greece quitting the currency, which would be an extreme step to say the least.

Mr. Juncker even said a few words to reporters who had hustled to Luxembourg to stake out the gathering. So why the lie? “I was told to say there was no meeting,” said Mr. Schuller, reached by telephone Monday. “We had certain necessities to consider.” Necessities? Why yes: such as perpetuating the now open lie that is the ponzi market: "Evening in Europe is midday in the United States. “We had Wall Street open at that point in time,” Mr. Schuller said. The euro was falling on the Spiegel report, which had overhyped the meeting. “There was a very good reason to deny that the meeting was taking place.” It was, he said, “self-preservation.”" And there you have it: the Eurozone itself now admits that it will sacrifice credibility at the expense of a few FX pips and a few basis points in the ES.Everything else is smoke and mirrors. And people think that central bankers will consider the threat of inflation should the Russell 2000 ever retrace back into bear market territory...

http://www.zerohedge.com/article/head-eurogroup-admits-lying-about-secret-greek-meeting-out-fears-market-collapse

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The trouble is once you start lying no one will ever believe you. This is a problem when they announce there is no bank run and don't panic, whatever you do don't get your cash it's perfectly safe.....

This sort of crap destroys trust.

Without trust there is nothing.

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The trouble is once you start lying no one will ever believe you. This is a problem when they announce there is no bank run and don't panic, whatever you do don't get your cash it's perfectly safe.....

This sort of crap destroys trust.

Without trust there is nothing.

exactly and the people are just beginning to doubt :unsure:

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http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/4214232/Reform-plan-raises-fears-of-Bank-secrecy.html

The Bank of England is the most secretive central bank in the world. I guess there must be a problem with the UK finances then?

I can understand why they are lying though, becuase if you lose faith in a major currency there would be blood on the streets so its all designed to keep the peace.

no we're on track to eliminate the economy deficit

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“I was told to say there was no meeting,”

Not only a liar but a coward too. They usually go together mind you.

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Not only a liar but a coward too. They usually go together mind you.

Perhaps he was just following orders

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The trouble is once you start lying no one will ever believe you. This is a problem when they announce there is no bank run and don't panic, whatever you do don't get your cash it's perfectly safe.....

This sort of crap destroys trust.

Without trust there is nothing.

.. and paper currency become as valuable as a liars promise.

I was getting seriously worried about the risk of losing the value of my STR fund in Q4 last year so bought a smaller place than planned from a desperate seller.

A house and food are the only resources (i.e. real money) I am interested in, even gold has no practical use.

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http://www.telegraph...nk-secrecy.html

The Bank of England is the most secretive central bank in the world. I guess there must be a problem with the UK finances then?

I can understand why they are lying though, becuase if you lose faith in a major currency there would be blood on the streets so its all designed to keep the peace.

how can you lose faith in reality?

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  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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