I believe Dennis Gartman compiled this list through June 13, 2012.
- Greece 's Finance Minister, February 2010 Elena Salgado, Spain
is not ."
- The Economist,
April 22nd, 2010 Greece
is not in ." - Greek Territory 's Finance Minister Brian
- George Papandreou,
Greek Finance Minister, November 22, 2010 Ireland
neither Ireland nor ."
- Elena Selgado,
again... November 16, 2010 Portugal
nor Portugal is ." -Angel Gurria, Secretary-General of the
OECD, November 18, 2010 Ireland
- Uganda 's Prime Minister, June 9, 2010 Emeriano Rajoy, Spain
Ed Parker, Fitch
Managing Director, June 12, 2012 Spain
"When it becomes serious, you have to lie." - Jean-Claude Juncker, the Europe Group President, April 2011
"The worst is now over... the situation is stabilizing." - ECB President Mario Draghi, March, 2012
does not want to be Spain"
foreign minister, June 13th 2012 Asuman Kiyingi, Uganda
"For a small, open economy like
, Euro adoption provides
protection from international financial turmoil." - Jean-Claude Trichet, President of the
European Central Bank, January 2008 Cyprus
is different from " - Business Insider, March
22, 2013 Cyprus
not ." (Actual quote: "[T]here is no truth
in statements that Cyprus Latvia
could become ."
- Kristaps Zakulis, head of the FKTK financial sector regulator, March 21,
Slovenia is not ." - FXStreet.com (Actual quote: "I am very sure that we
( Cyprus Slovenia) will not get into
such a situation (as ),"
Marko Kranjec, Bank of Slovenia governor.) Cyprus
not ." - Tony Zahra, Times of Cyprus ,
March 23, 2013 Malta
is not ." -Financial Times, March 21, 2013,
See below Cyprus
Czech Republic is not ." -Financial Times, March 21, 2013,
See below Cyprus
not ." -Financial Times, March 21, 2013,
See below Cyprus
and the Czech Republic have
very solid banking systems, completely unlike the situation in - and
there is no sign of a banking run. The most exposed are Cyprus Hungary and Slovenia,
but even they are a world away from 's situation." - Jan
Cienski, "CEE: Contagion Risk from Cyprus ?" - Financial Times,
March 21, 2013 Cyprus
"Credit is not money. Credit is trust. Trust can vanish in an instant." - Frederick J. Sheehan, March 25, 2013
TESTIMONY OF J.P. MORGAN - THE MAN - IN 1912 BEFORE THE "PUJO COMMITTEE," a subcommittee of the House Committee on Banking and Currency. Morgan was questioned by Samuel Untermyer. The source is Jeanne Strouse's biography of Morgan:
"Untermyer: "The basis of banking is credit, is it not?"
Morgan: "Not always. That is evidence of banking, but it is not the money itself. Money is gold, and nothing else."
Untermyer asked Morgan whether credit was not based on money - that is, did not the big
banks issue loans to certain men and institutions "because it is believed
that they have the money back of them." New York
Morgan: "No sir. It is because people believe in the man."
Untermyer: "And he might not be worth anything?"
Morgan, with less than perfect regard for grammar: "He might not have anything. I have known a man to come into my office, and I have given him a check for a million dollars when I knew they had not a cent in the world."
Untermyer: "There are not many of them?"
Morgan: "Yes, a good many."
Untermyer: "That is not business?"
Morgan: "Yes, unfortunately it is. I do not think it is good business, though."
Untermyer did not, apparently, think much of this answer, for he repeated his proposition. "Is not commercial credit based primarily on money or property?"
Morgan: "No sir; the first thing is character."
Untermyer: "Before money or property?"
Morgan: "Before money or property or anything else. Money cannot buy it" - and he elaborated after a few questions - "because a man I do not trust could not get money from me for all the money in Christendom."
FEDERAL RESERVE CHAIRMAN BEN S. BERNANKE, 2011:
"The reason people hold gold is protection against tail risk, really, really, bad outcomes. To the extent that the last few years have made people more worried about the potential of a major crisis, then they hold gold as a protection." - Federal Reserve Chairman Ben S. Bernanke, the greatest tail risk in the West since Genghis Khan, July 13, 2011.
"With the current policy, [European leaders] will need force to keep it going against the interests of the people. You do not need to be a eurosceptic to conclude that such a monetary union is also deeply immoral." - Wolfgang Manchau, Eurozone Break-Up Edges Even Closer, Financial Times, March 25, 2013