Charles "The Hammer" Martel
Posted on 06/03/2012 7:39:52 PM PDT by Texas Fossil
After a Spanish exit from the euro, there would be nothing left to exit from.
I’ve never actually heard the term “total emergency” before, at least not in the context of global economics. It sounds like the title of a disaster movie. When it is uttered in sober tones by the elder statesman of an advanced democracy to describe his country’s financial condition, the effect is rather startling.
The man who delivered this apocalyptic judgment, former Spanish prime minister Felipe González, being a socialist, might be expected to detest austerity programmes that require cuts to government spending. But there seemed to be few disinterested observers of Spain’s economy prepared to quibble with his assessment.
(Excerpt) Read more at telegraph.co.uk ...
First Greece. Now Spain. Next will be Italy, but by that point there will be no money left to forestall the inevitable, and the Italian economy would have been too big to bail out anyway even if it had been the first domino.
Charles "The Hammer" Martel
“Roger White, an American private tutor who moved back to the United States from Greece three weeks ago to escape the economic crisis, told msnbc.com: “I see violence on the Greek horizon. Will the Greeks continue to withdraw their savings? Yes, for as long as they can. Then, the government will intervene with limits on withdrawals and other controls. Then, Greeks will protest in the streets, light banks afire, smash bank windows and rip out ATMs.
“Oddly, I can say that in many ways my Greek experience gave me wonderful opportunities. Nonetheless, my epiphany came when Greece's economic collapse and the government's implosion revealed just how reliant on the government we are, and just how vulnerable to government mismanagement we are.”
The Spanish folded like lawn chairs when the muzzies gave them a little push. Just drama queens, nothing to see here.
What happened to the proud Spaniards...?
Otherwise, the weak fall first.
Maybe al Qada will bail out Spain.
Well, they were not muzzies. Just click on my name.
When the EU got to 25 or so members all said that there is now way more than the 10 the Bible says for the end times. Now all of the countries want out of the EU. Guess that number of 10 is not so unreasonable after all. God said that it would be 10 in the end times and I believe Him. The EU is doomed. The Bible says that this is going to happen a certain way and THAT is the WAY it is going to happen.
"Right, as the world goes, is only in question between equals in power, while the strong do what they can and the weak suffer what they must."
- Thucydides
***
Waters, liquidity
Read the whole article BTW.
More important question who cares?
What does it matter if certain members of the EU withdraw?
A: Few if any of them really wanted in the EU in the first place.
B: It’s not like a few members exiting the EU will make a real difference.
C: Even if all the member left which i think is extraordinarily unlikely its not like the world are any worse off than they were just 10 years ago. Indeed many might argue they are better off.
Fractured unions are not bad things big Government leaders make them out to be.
I was in Germany (Bavaria)for two week last year. I found Germans to be the most rule bound people I have ever met. . . until I went to Oktoberfest where they really let loose.
George Washington’s Farewell Address was concerned about the danger of secession. It was written by Alexander Hamilton and was never intended to be a perpetual warning against involvement in Europe. It was directed specifically at involvement in the English-French wars at a time when this nation was too weak to defend itself from the civil war within the nation which would have followed siding with the English.
It was never to be taken as a call for isolationism.
If you believed this to be “planned” you would have to also believe someone knows what they are doing and how to do it. There is no one like that “really” in charge.
If you believed this to be “planned” you would have to also believe someone knows what they are doing and how to do it. There is no one like that “really” in charge.
But, I don't agree with your perspective on the "planned" aspect of the assault on the US.
Men, even brilliant men are not very good at pulling off grand schemes. Fact. But BHO, Jr. was elected. He is covered for by the MSM. He is in allegiance with our traditional enemies. He has done nothing in office but make things worse for our nation, in my opinion by design. He has made many mistakes that made him look foolish, but the MSM Press continues to protect him. There are foreign element who campaigned for him in the US. There are foreign elements who work for his minions on Twitter, see them daily. The OWS crowd is directed by his surrogates. YES, THERE IS COORDINATION. Are they omnipitent, NO. Have they been somewhat effective, yes.
Obozo serves the father-of-lies. I do not discount that as the source of "planning" you referred to.
Now that is a loaded word. It is often invoked by the "Internationalist" as a derogatory term.
Way back in the 1970's I read a book entitled: The Economic Bases of Peace by Ernest Minor Patterson (Not: The Economic Basis of Peace) It dealt extensively with Autarchy, Internationalism, Intranationalism, Regionalism, A World Economy, The book was first published in 1939, my reprint was done around 1971.
Went to my library tonight and intend over the next few days to revisit it. Have a couple of other books from the 1929-1939 period that I may look at again. In light of the Global Economic Mess.
None of these structures are without problems. Certainly "Globalism" (and it's blind leap of faith) are not without dangers. In my opinion, Globalism is the semi-structure with the most potential for evil. For that reason I have contempt for those who zealously persue that as a final solution.
Old Chinese proverb: "Today's problems were often yesterdays solutions."
Yeah...but they brought tickets....
Marx said ..."if the Germans were going to take over the railway station....they would buy platform tickets."
FYI - when the SWF began to rally as a flight to safety in Q4 2011, the SNB decided to Peg the Franc to the uro to maintain a threshold FX of SWFEUR 1.20.
The SWF is partially backed by gold, which initiated the imbalance.
With the SNB purchasing more EUR on weakness to maintain the Peg, the SNB utilizes a Swap to weaken their currency vs easing the money supply.
The Swiss Peg is also one of the main reasons why the EURUSD hasn’t gne to parity.
Eventually it would seem that the EURUSD will meet par, but if Greece exits - then the EUR would only increase in FX vs other currencies.
Accurate.
Our own financial problems can be traced back to "progressive" reforms. It's a curious thing that somebody convinced the "bright" folks in power once to create a federal reserve. A "bank" where the government goes to borrow money to deploy into our system. The federal reserve first invents the money and then charges the US government interest for its services. The US government could just as easily invent the exact same money by itself without the services of the federal reserve, but avoid entirely the interest costs associated with the transaction.
But why do that when accumulating debt is so much fun?
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