Ignore the media, you already know the facts are as follows:
1. There has already been a 50% default; otherwise, Wall Street funds wouldn't have already gone bankrupt.
2. The Greek vote is all about whether the Greek citizens will accept the present deal (50% loss for banks) or whether they will force a 100% loss.
3. Why do Greek citizens care? Because they are the supreme financial losers in this deal. That's why folks have already been throwing fire bombs at the police.
4. End of the day, can banks win out against the population? 50% or 100% loss? Really "good" news - ha ha.
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To understand the Greek citizens, think of it this way:
- You have personally worked as an OK-paid professional in a start-up co. 16 hours per day and 7 days per week for years.
- You make this sacrifice because your co. may go public and you can cash-in your ton of stock options.
- Finally, the co. goes public! Then the co. informs you that your stock options are null and void.
That is how the Greek citizens feel. Do not underestimate the power of rage.
