Breaking News * Urgent * Telegraph: EU On Verge of Systemic Economic Collapse | |
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Strut1eleven User ID: 1474746 Australia 07/20/2011 01:16 AM Report Abusive Post Report Copyright Violation | Looks like this is it, folks. Full-scale systemic economic collapse may have just started. I would very much appreciate it if this thread was kept open for serious discussion. Quoting: Intentionally BlankJust out, 45 minutes ago, From Ambrose Evans Pritchard of the London Daily Telegraph, (Ambrose Evans-Pritchard is International Business Editor of The Daily Telegraph. He has covered world politics and economics for 30 years, based in Europe, the US, and Latin America. He joined the Telegraph in 1991, serving as Washington correspondent and later Europe correspondent in Brussels). [link to www.telegraph.co.uk] Only Germany can save EMU as contagion turns systemic '...Europe's leaders have finally run out of time. If they fail to agree on some form of debt pooling and shared fiscal destiny at Thursday's emergency summit, they risk a full-fledged run on South Europe's bond markets and a disorderly collapse of monetary union...' '...The International Monetary Fund said there is now "serious risk" of eurozone contagion with "large" potential knock-on effects worldwide. "Market participants remain unconvinced that a sustainable solution is at hand," it said. Suki Mann from Societe Generale caught the mood in a note to clients, asking whether it is "all over". "Eurozone politicians don't – or don't want to – understand that the eurozone as we know it is on the precipice. Greece appears beyond repair, Italy is on the brink, and the chances are that the euro might be no more very soon," he said. RBS fears that Europe is on the cusp of "system-wide convulsion" after yields on Spanish 10-year bonds reached post-EMU records of 6.34pc this week, and Italian yields topped 6pc. "We believe that Spain has entered the danger zone for yield levels," said Harvender Sian, the bank's credit strategist, who fears the "point-of-no-return" may be 6.5pc. "Given that Spain [and likely soon Italy] has entered this territory, there is a growing risk that a large systemic risk event is plausible in the near term and if not then in a matter of weeks." The bank has called for a bail-out fund with €2 trillion of full lending power to stabilise the system, even if this risks pushing German debt levels above 110pc of GDP and causing apoplexy in the Bundestag. The bond fund Pimco has its own idea: throwing Greece, Ireland and Portugal to the wolves, and concentrating €1 trillion in "overwhelming force" to defend Spain and Italy. That major players should utter such thoughts shows how fast events are moving. For 18 months the EU has treated the serial crises on the EMU margins as liquidity headaches. It hoped that time would slowly lift the distressed debtors off the reefs, while the penal terms of "Ultima Ratio" attached to bailout loans would deter other EMU states from seeking help. "Shock and Awe" rhetoric would do the rest. The strategy has failed because it did not acknowledge that the deeper crisis is a North-South structural gap that has left half the eurozone with variants of 1930s debt-deflation, a condition that cannot be solved by austerity measures or by any one country alone. "We are approaching the endgame for this part of the European sovereign crises: the number of cans that now need kicking down the road would challenge the left foot of Lionel Messi," said Gary Jenkins from Evolution Securities. "The chances are that the EU will only take the step of fiscal union or common bond issuance at one minute to midnight on a weekend when it is clear that the system is close to collapse." ...' For more, see link above If you're in Europe, I recommend you get your savings somewhere safe right now. Wait for a retrace then buy silver. and Go short the Euro. What a great opportunity this is , not only to make money but also to see the ushering in of a Resource Based Economy. See The Venus Project for an outline of a successful Resource Based Economy. [link to www.thevenusproject.com] Death is always around the corner, but often our society gives it inordinate help. Carter Burwell Some men are alive simply because it is against the law to kill them. Edward W. Howe |
Anonymous Coward User ID: 1474719 United States 07/20/2011 01:18 AM Report Abusive Post Report Copyright Violation | Probably should start Googling such phrases as "fuedal" "Knights in shining armour" "peasants" "serfs" "lord of the manor" and such. Quoting: Anonymous Coward 1100144The second born, usually unentitled sons, of the above settled the "Americas". No offense to King George and Queen Elizabeth and all the other European reigning royalty...god bless their grasping little souls, but he was a first-born...as were the rest of the royals who reign. I think they are all German-Austrian born...Hapsburgs...or relics of same. Them all looted the rest of the world for past four centuries. History is always a BIG cycle and Karma is a real biatch. Bend over is all I can say. O BAMA Is that you? |
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Luvapottamus User ID: 1428854 United States 07/20/2011 01:54 AM Report Abusive Post Report Copyright Violation | Looks like this is it, folks. Full-scale systemic economic collapse may have just started. I would very much appreciate it if this thread was kept open for serious discussion. Quoting: Intentionally BlankJust out, 45 minutes ago, From Ambrose Evans Pritchard of the London Daily Telegraph, (Ambrose Evans-Pritchard is International Business Editor of The Daily Telegraph. He has covered world politics and economics for 30 years, based in Europe, the US, and Latin America. He joined the Telegraph in 1991, serving as Washington correspondent and later Europe correspondent in Brussels). [link to www.telegraph.co.uk] Only Germany can save EMU as contagion turns systemic '...Europe's leaders have finally run out of time. If they fail to agree on some form of debt pooling and shared fiscal destiny at Thursday's emergency summit, they risk a full-fledged run on South Europe's bond markets and a disorderly collapse of monetary union...' '...The International Monetary Fund said there is now "serious risk" of eurozone contagion with "large" potential knock-on effects worldwide. "Market participants remain unconvinced that a sustainable solution is at hand," it said. Suki Mann from Societe Generale caught the mood in a note to clients, asking whether it is "all over". "Eurozone politicians don't – or don't want to – understand that the eurozone as we know it is on the precipice. Greece appears beyond repair, Italy is on the brink, and the chances are that the euro might be no more very soon," he said. RBS fears that Europe is on the cusp of "system-wide convulsion" after yields on Spanish 10-year bonds reached post-EMU records of 6.34pc this week, and Italian yields topped 6pc. "We believe that Spain has entered the danger zone for yield levels," said Harvender Sian, the bank's credit strategist, who fears the "point-of-no-return" may be 6.5pc. "Given that Spain [and likely soon Italy] has entered this territory, there is a growing risk that a large systemic risk event is plausible in the near term and if not then in a matter of weeks." The bank has called for a bail-out fund with €2 trillion of full lending power to stabilise the system, even if this risks pushing German debt levels above 110pc of GDP and causing apoplexy in the Bundestag. The bond fund Pimco has its own idea: throwing Greece, Ireland and Portugal to the wolves, and concentrating €1 trillion in "overwhelming force" to defend Spain and Italy. That major players should utter such thoughts shows how fast events are moving. For 18 months the EU has treated the serial crises on the EMU margins as liquidity headaches. It hoped that time would slowly lift the distressed debtors off the reefs, while the penal terms of "Ultima Ratio" attached to bailout loans would deter other EMU states from seeking help. "Shock and Awe" rhetoric would do the rest. The strategy has failed because it did not acknowledge that the deeper crisis is a North-South structural gap that has left half the eurozone with variants of 1930s debt-deflation, a condition that cannot be solved by austerity measures or by any one country alone. "We are approaching the endgame for this part of the European sovereign crises: the number of cans that now need kicking down the road would challenge the left foot of Lionel Messi," said Gary Jenkins from Evolution Securities. "The chances are that the EU will only take the step of fiscal union or common bond issuance at one minute to midnight on a weekend when it is clear that the system is close to collapse." ...' For more, see link above If you're in Europe, I recommend you get your savings somewhere safe right now. Wait for a retrace then buy silver. and Go short the Euro. What a great opportunity this is , not only to make money but also to see the ushering in of a Resource Based Economy. See The Venus Project for an outline of a successful Resource Based Economy. [link to www.thevenusproject.com] Will we get to retrace and short the resource based economy? Sounds like a bad habit. "A human being should be able to change a diaper, plan an invasion, butcher a hog, conn a ship, design a building, write a sonnet, balance accounts, build a wall, set a bone, comfort the dying, take orders, give orders, cooperate, act alone, solve equations, analyze a new problem, pitch manure, program a computer, cook a tasty meal, fight efficiently, die gallantly. Specialization is for insects." - Robert Heinlein, Time Enough for Love |
Strut1eleven User ID: 1474818 Australia 07/20/2011 02:34 AM Report Abusive Post Report Copyright Violation | Looks like this is it, folks. Full-scale systemic economic collapse may have just started. I would very much appreciate it if this thread was kept open for serious discussion. Quoting: Intentionally BlankJust out, 45 minutes ago, From Ambrose Evans Pritchard of the London Daily Telegraph, (Ambrose Evans-Pritchard is International Business Editor of The Daily Telegraph. He has covered world politics and economics for 30 years, based in Europe, the US, and Latin America. He joined the Telegraph in 1991, serving as Washington correspondent and later Europe correspondent in Brussels). [link to www.telegraph.co.uk] Only Germany can save EMU as contagion turns systemic '...Europe's leaders have finally run out of time. If they fail to agree on some form of debt pooling and shared fiscal destiny at Thursday's emergency summit, they risk a full-fledged run on South Europe's bond markets and a disorderly collapse of monetary union...' '...The International Monetary Fund said there is now "serious risk" of eurozone contagion with "large" potential knock-on effects worldwide. "Market participants remain unconvinced that a sustainable solution is at hand," it said. Suki Mann from Societe Generale caught the mood in a note to clients, asking whether it is "all over". "Eurozone politicians don't – or don't want to – understand that the eurozone as we know it is on the precipice. Greece appears beyond repair, Italy is on the brink, and the chances are that the euro might be no more very soon," he said. RBS fears that Europe is on the cusp of "system-wide convulsion" after yields on Spanish 10-year bonds reached post-EMU records of 6.34pc this week, and Italian yields topped 6pc. "We believe that Spain has entered the danger zone for yield levels," said Harvender Sian, the bank's credit strategist, who fears the "point-of-no-return" may be 6.5pc. "Given that Spain [and likely soon Italy] has entered this territory, there is a growing risk that a large systemic risk event is plausible in the near term and if not then in a matter of weeks." The bank has called for a bail-out fund with €2 trillion of full lending power to stabilise the system, even if this risks pushing German debt levels above 110pc of GDP and causing apoplexy in the Bundestag. The bond fund Pimco has its own idea: throwing Greece, Ireland and Portugal to the wolves, and concentrating €1 trillion in "overwhelming force" to defend Spain and Italy. That major players should utter such thoughts shows how fast events are moving. For 18 months the EU has treated the serial crises on the EMU margins as liquidity headaches. It hoped that time would slowly lift the distressed debtors off the reefs, while the penal terms of "Ultima Ratio" attached to bailout loans would deter other EMU states from seeking help. "Shock and Awe" rhetoric would do the rest. The strategy has failed because it did not acknowledge that the deeper crisis is a North-South structural gap that has left half the eurozone with variants of 1930s debt-deflation, a condition that cannot be solved by austerity measures or by any one country alone. "We are approaching the endgame for this part of the European sovereign crises: the number of cans that now need kicking down the road would challenge the left foot of Lionel Messi," said Gary Jenkins from Evolution Securities. "The chances are that the EU will only take the step of fiscal union or common bond issuance at one minute to midnight on a weekend when it is clear that the system is close to collapse." ...' For more, see link above If you're in Europe, I recommend you get your savings somewhere safe right now. Wait for a retrace then buy silver. and Go short the Euro. What a great opportunity this is , not only to make money but also to see the ushering in of a Resource Based Economy. See The Venus Project for an outline of a successful Resource Based Economy. [link to www.thevenusproject.com] Will we get to retrace and short the resource based economy? Sounds like a bad habit. It is but. what I mean is wait for a small retrace in the silver market then jump on to make some money coz as u well know we need that shit right now;money that is. and if everything goes to shit at least you'll be short on the relevant currencies. Then you can buy a fortified four wheel drive fully functional for survival Bus and Run for the hills. Death is always around the corner, but often our society gives it inordinate help. Carter Burwell Some men are alive simply because it is against the law to kill them. Edward W. Howe |
Intentionally Blank (OP) User ID: 1474842 United Kingdom 07/20/2011 03:06 AM Report Abusive Post Report Copyright Violation | More on this: [link to www.telegraph.co.uk] The IMF has decided that what Europeans need to do is become locked in even more closely and throw even more money at this... their plan for total enslavement, I guess... whatever, TSHF is here... '..Eurozone debt crisis could prove 'very costly' for the world, warns IMF Eurozone debt crisis could prove 'very costly' for the world, warns IMF On Tuesday night, diplomats in Brussels were warning of "bedlam" unless a deal is "more or less" sealed on Thursday...' '...The crisis around Greek debt now poses "serious risks" that it will infect the region's core powerhouse economies, such as Greece and France, even if officials pursue a strategy aimed at avoiding a default by Athens, the IMF said...' Hmmm.... I think people might get a wee bit upset about this... Last Edited by Intentionally Blank on 07/20/2011 03:34 AM |
NORMAL GUY User ID: 1293441 Spain 07/20/2011 03:11 AM Report Abusive Post Report Copyright Violation | [link to money.cnn.com] The most perfect place to be is... With your own thought,s on a silent mountain with the sun on your back, a breeze on your face and peace in your soul...... |
Luvapottamus User ID: 1428854 United States 07/20/2011 03:16 AM Report Abusive Post Report Copyright Violation | Looks like this is it, folks. Full-scale systemic economic collapse may have just started. I would very much appreciate it if this thread was kept open for serious discussion. Quoting: Intentionally BlankJust out, 45 minutes ago, From Ambrose Evans Pritchard of the London Daily Telegraph, (Ambrose Evans-Pritchard is International Business Editor of The Daily Telegraph. He has covered world politics and economics for 30 years, based in Europe, the US, and Latin America. He joined the Telegraph in 1991, serving as Washington correspondent and later Europe correspondent in Brussels). [link to www.telegraph.co.uk] Only Germany can save EMU as contagion turns systemic '...Europe's leaders have finally run out of time. If they fail to agree on some form of debt pooling and shared fiscal destiny at Thursday's emergency summit, they risk a full-fledged run on South Europe's bond markets and a disorderly collapse of monetary union...' '...The International Monetary Fund said there is now "serious risk" of eurozone contagion with "large" potential knock-on effects worldwide. "Market participants remain unconvinced that a sustainable solution is at hand," it said. Suki Mann from Societe Generale caught the mood in a note to clients, asking whether it is "all over". "Eurozone politicians don't – or don't want to – understand that the eurozone as we know it is on the precipice. Greece appears beyond repair, Italy is on the brink, and the chances are that the euro might be no more very soon," he said. RBS fears that Europe is on the cusp of "system-wide convulsion" after yields on Spanish 10-year bonds reached post-EMU records of 6.34pc this week, and Italian yields topped 6pc. "We believe that Spain has entered the danger zone for yield levels," said Harvender Sian, the bank's credit strategist, who fears the "point-of-no-return" may be 6.5pc. "Given that Spain [and likely soon Italy] has entered this territory, there is a growing risk that a large systemic risk event is plausible in the near term and if not then in a matter of weeks." The bank has called for a bail-out fund with €2 trillion of full lending power to stabilise the system, even if this risks pushing German debt levels above 110pc of GDP and causing apoplexy in the Bundestag. The bond fund Pimco has its own idea: throwing Greece, Ireland and Portugal to the wolves, and concentrating €1 trillion in "overwhelming force" to defend Spain and Italy. That major players should utter such thoughts shows how fast events are moving. For 18 months the EU has treated the serial crises on the EMU margins as liquidity headaches. It hoped that time would slowly lift the distressed debtors off the reefs, while the penal terms of "Ultima Ratio" attached to bailout loans would deter other EMU states from seeking help. "Shock and Awe" rhetoric would do the rest. The strategy has failed because it did not acknowledge that the deeper crisis is a North-South structural gap that has left half the eurozone with variants of 1930s debt-deflation, a condition that cannot be solved by austerity measures or by any one country alone. "We are approaching the endgame for this part of the European sovereign crises: the number of cans that now need kicking down the road would challenge the left foot of Lionel Messi," said Gary Jenkins from Evolution Securities. "The chances are that the EU will only take the step of fiscal union or common bond issuance at one minute to midnight on a weekend when it is clear that the system is close to collapse." ...' For more, see link above If you're in Europe, I recommend you get your savings somewhere safe right now. Wait for a retrace then buy silver. and Go short the Euro. What a great opportunity this is , not only to make money but also to see the ushering in of a Resource Based Economy. See The Venus Project for an outline of a successful Resource Based Economy. [link to www.thevenusproject.com] Will we get to retrace and short the resource based economy? Sounds like a bad habit. It is but. what I mean is wait for a small retrace in the silver market then jump on to make some money coz as u well know we need that shit right now;money that is. and if everything goes to shit at least you'll be short on the relevant currencies. Then you can buy a fortified four wheel drive fully functional for survival Bus and Run for the hills. I was just teasing. "A human being should be able to change a diaper, plan an invasion, butcher a hog, conn a ship, design a building, write a sonnet, balance accounts, build a wall, set a bone, comfort the dying, take orders, give orders, cooperate, act alone, solve equations, analyze a new problem, pitch manure, program a computer, cook a tasty meal, fight efficiently, die gallantly. Specialization is for insects." - Robert Heinlein, Time Enough for Love |