Let the Euro die, it will eventually.
"Never believe anything in politics until it has been officially denied."
~~Bismark
The fiscal equivalent of depending on the Maginot Line.
I wonder what will happen to Greek citizens who have been prudent enough to move their money to non-Greek banks. Will they be forced to move their money back to Greece and have it forcibly converted to the drachma? What if they hide their money further afield like in Britain, Switzerland, the US or even in the Caymans?
Credit Suisse recently said that bond yields in Italy and Spain are likely to reach 9% soon.
Those would be ten-year bonds, BTW. The default process will run its course with those nations and more. The recent flood of accusations against countries to the north of them won’t change that. The others can only try to salvage as much as possible for their own economies.
ECB bond buying= CON-BONDS. Cause: Con-papers deception (false collateral)Insufficient national product output Deflation. (As in attempt to issue stock in a false or fictitious corp.) Fraud, Security fraud.
CON-BOND Purpose: RICO Asset distribution/theft.
Devices:
1. Disproportionate monetization.
2. Indenture-ment: Backroom RICO wile.
e.g. U.S. Phony-Care, “Health-I.D.” , Super-State Vat-taxation, taxation wile.
Effects:
1. Stagnation
2. Unemployment
3. Poverty
4. Shortages
5. Supression
6. Violation of Bill of Rights.
7. Force-”Work-camps”
8. over-throw of bondage.
UNaccountable bureaucracies are junk and their bureaucrats need to go. Are you listening Congress?
I would not be surprised that banks in the USA, Canada, the more prosperous parts of Latin America, and most of Asia (Japan, South Korea, China, Hong Kong, Singapore, India and even the financial institutions in the Middle East that run under Islamic law) may have quietly entered into special agreements to protect each other once the European collapse occurs.
In the end, the 21st Century will end up being the Century of the Pacific as once the economy recovers most trade will be done across the Pacific Rim.
In essence, not his fault!
If Republicans present a weak candidate without charisma and a solid conservative stance (Romney), then prepare for Obama to be reelected.
IMF Readying Loan of as Much as $794 Billion for Italy, La Stampa Reports
Note to American taxpayers: Incoming!!!!
“Europe’s common currency ... ushered in years of prosperity for its members, especially Germany, as interest rates declined and money flooded into the union — until the Lehman Brothers bankruptcy sent global credit markets into chaos three years ago and the financial crisis took on new life with the near-default of Greece last year.”
Fascinating. This idiot “Slimes” reporter is blaming Eurozone woes on Lehman Brothers!!??? Gee, and here I thought that the problem was because the socialist PIIGS were finally running out of other peoples’ money to spend. That they’ve borrowed so much money that no one will buy their sovereign bonds any longer, even at interest rates greater than 7%. That their socialist economies are on the verge of collapse from borrowing and spending more than their GDPs, and that the bond rating agencies have reduced their bonds to junk status.
Silly me. Those things couldn’t have squat to do with the incipient collapse of the European Union, right? Naw. Not if you’re stupid and ignorant enough to believe that Lehman Brothers is why Europe will fall. I guess The Slimes still thinks their readers are stupid and ignorant, and they would be if the only information they got was from The Slimes itself. But fortunately, The Slimes is dying, and millions of other informational sites have sprung up on the Internet where one can become truly educated and aware of what is going on in the world today, rather than the bizarro world The Slimes tries to depict.
“Europe’s common currency ... ushered in years of prosperity for its members, especially Germany, as interest rates declined and money flooded into the union — until the Lehman Brothers bankruptcy sent global credit markets into chaos three years ago and the financial crisis took on new life with the near-default of Greece last year.”
Fascinating. This idiot “Slimes” reporter is blaming Eurozone woes on Lehman Brothers!!??? Gee, and here I thought that the problem was because the socialist PIIGS were finally running out of other peoples’ money to spend. That they’ve borrowed so much money that no one will buy their sovereign bonds any longer, even at interest rates greater than 7%. That their socialist economies are on the verge of collapse from borrowing and spending more than their GDPs, and that the bond rating agencies have reduced their bonds to junk status.
Silly me. Those things couldn’t have squat to do with the incipient collapse of the European Union, right? Naw. Not if you’re stupid and ignorant enough to believe that Lehman Brothers is why Europe will fall. I guess The Slimes still thinks their readers are stupid and ignorant, and they would be if the only information they got was from The Slimes itself. But fortunately, The Slimes is dying, and millions of other informational sites have sprung up on the Internet where one can become truly educated and aware of what is going on in the world today, rather than the bizarro world The Slimes tries to depict.
“Europe’s common currency ... ushered in years of prosperity for its members, especially Germany, as interest rates declined and money flooded into the union — until the Lehman Brothers bankruptcy sent global credit markets into chaos three years ago and the financial crisis took on new life with the near-default of Greece last year.”
Fascinating. This idiot “Slimes” reporter is blaming Eurozone woes on Lehman Brothers!!??? Gee, and here I thought that the problem was because the socialist PIIGS were finally running out of other peoples’ money to spend. That they’ve borrowed so much money that no one will buy their sovereign bonds any longer, even at interest rates greater than 7%. That their socialist economies are on the verge of collapse from borrowing and spending more than their GDPs, and that the bond rating agencies have reduced their bonds to junk status.
Silly me. Those things couldn’t have squat to do with the incipient collapse of the European Union, right? Naw. Not if you’re stupid and ignorant enough to believe that Lehman Brothers is why Europe will fall. I guess The Slimes still thinks their readers are stupid and ignorant, and they would be if the only information they got was from The Slimes itself. But fortunately, The Slimes is dying, and millions of other informational sites have sprung up on the Internet where one can become truly educated and aware of what is going on in the world today, rather than the bizarro world The Slimes tries to depict.
“Europe’s common currency ... ushered in years of prosperity for its members, especially Germany, as interest rates declined and money flooded into the union — until the Lehman Brothers bankruptcy sent global credit markets into chaos three years ago and the financial crisis took on new life with the near-default of Greece last year.”
Fascinating. This idiot “Slimes” reporter is blaming Eurozone woes on Lehman Brothers!!??? Gee, and here I thought that the problem was because the socialist PIIGS were finally running out of other peoples’ money to spend. That they’ve borrowed so much money that no one will buy their sovereign bonds any longer, even at interest rates greater than 7%. That their socialist economies are on the verge of collapse from borrowing and spending more than their GDPs, and that the bond rating agencies have reduced their bonds to junk status.
Silly me. Those things couldn’t have squat to do with the incipient collapse of the European Union, right? Naw. Not if you’re stupid and ignorant enough to believe that Lehman Brothers is why Europe will fall. I guess The Slimes still thinks their readers are stupid and ignorant, and they would be if the only information they got was from The Slimes itself. But fortunately, The Slimes is dying, and millions of other informational sites have sprung up on the Internet where one can become truly educated and aware of what is going on in the world today, rather than the bizarro world The Slimes tries to depict.
“Europe’s common currency ... ushered in years of prosperity for its members, especially Germany, as interest rates declined and money flooded into the union — until the Lehman Brothers bankruptcy sent global credit markets into chaos three years ago and the financial crisis took on new life with the near-default of Greece last year.”
Fascinating. This idiot “Slimes” reporter is blaming Eurozone woes on Lehman Brothers!!??? Gee, and here I thought that the problem was because the socialist PIIGS were finally running out of other peoples’ money to spend. That they’ve borrowed so much money that no one will buy their sovereign bonds any longer, even at interest rates greater than 7%. That their socialist economies are on the verge of collapse from borrowing and spending more than their GDPs, and that the bond rating agencies have reduced their bonds to junk status.
Silly me. Those things couldn’t have squat to do with the incipient collapse of the European Union, right? Naw. Not if you’re stupid and ignorant enough to believe that Lehman Brothers is why Europe will fall. I guess The Slimes still thinks their readers are stupid and ignorant, and they would be if the only information they got was from The Slimes itself. But fortunately, The Slimes is dying, and millions of other informational sites have sprung up on the Internet where one can become truly educated and aware of what is going on in the world today, rather than the bizarro world The Slimes tries to depict.
“Europe’s common currency ... ushered in years of prosperity for its members, especially Germany, as interest rates declined and money flooded into the union — until the Lehman Brothers bankruptcy sent global credit markets into chaos three years ago and the financial crisis took on new life with the near-default of Greece last year.”
Fascinating. This idiot “Slimes” reporter is blaming Eurozone woes on Lehman Brothers!!??? Gee, and here I thought that the problem was because the socialist PIIGS were finally running out of other peoples’ money to spend. That they’ve borrowed so much money that no one will buy their sovereign bonds any longer, even at interest rates greater than 7%. That their socialist economies are on the verge of collapse from borrowing and spending more than their GDPs, and that the bond rating agencies have reduced their bonds to junk status.
Silly me. Those things couldn’t have squat to do with the incipient collapse of the European Union, right? Naw. Not if you’re stupid and ignorant enough to believe that Lehman Brothers is why Europe will fall. I guess The Slimes still thinks their readers are stupid and ignorant, and they would be if the only information they got was from The Slimes itself. But fortunately, The Slimes is dying, and millions of other informational sites have sprung up on the Internet where one can become truly educated and aware of what is going on in the world today, rather than the bizarro world The Slimes tries to depict.