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Holy Crap EU Euro Rescue Plan Now Up To A Mind Blowing $962 Billion Dollars!!! Pin! This Is Epic!!!

 
Anonymous Coward
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Canada
05/09/2010 10:23 PM
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Re: Holy Crap EU Euro Rescue Plan Now Up To A Mind Blowing $962 Billion Dollars!!! Pin! This Is Epic!!!
Quantitive easing to infinity. Just like JS has been saying. Everything will be bailed out.


One thing we know for sure - fiat currency ALWAYS collapses.
 Quoting: Anonymous Coward 847197

and gold to infinity
Anonymous Coward
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Italy
05/09/2010 10:25 PM
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Re: Holy Crap EU Euro Rescue Plan Now Up To A Mind Blowing $962 Billion Dollars!!! Pin! This Is Epic!!!
I wonder how long until the next US stimulus?
 Quoting: The Chef


IMHO...
next fall....when wave #3 of this crisis will hit US shore
He Who Walks Behind the Rows
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Cambodia
05/09/2010 10:25 PM
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Re: Holy Crap EU Euro Rescue Plan Now Up To A Mind Blowing $962 Billion Dollars!!! Pin! This Is Epic!!!
Thanks for the pin!

This will be epic.

Printing more money will will only delay not prevent a collapse.

In the end it may make it worse.

I wonder how long until the next US stimulus?
 Quoting: The Chef


Not long at all the only one screwed here the most is the USA, they wont be able to print anymore no more buyers anywhere for usa debt it will be unattractive compared to the guaranteed debts of europe

[link to www.leap2020.eu]
Anonymous Coward
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Malaysia
05/09/2010 10:28 PM
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Re: Holy Crap EU Euro Rescue Plan Now Up To A Mind Blowing $962 Billion Dollars!!! Pin! This Is Epic!!!
Not long at all the only one screwed here the most is the USA, they wont be able to print anymore no more buyers anywhere for usa debt it will be unattractive compared to the guaranteed debts of europe

[link to www.leap2020.eu]
 Quoting: He Who Walks Behind the Rows 965754





Thing is, WHAT KIND OF GUARANTEE does Europe have on their Euros?

Same type of houses, made of cards.
The Chef (OP)

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05/09/2010 10:29 PM
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Re: Holy Crap EU Euro Rescue Plan Now Up To A Mind Blowing $962 Billion Dollars!!! Pin! This Is Epic!!!
One of the Doctor Doom economists said that when a country starts to buy their own bonds then the collapse is inevitable.

I can't remember who said it but not only is the EU bailing out the Euro on top of it all they will be buying their own bonds.
Anonymous Coward
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05/09/2010 10:33 PM
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Re: Holy Crap EU Euro Rescue Plan Now Up To A Mind Blowing $962 Billion Dollars!!! Pin! This Is Epic!!!
politicians steal money making it look like it was the people.
politicians could accuse bankers, but they wont.
politicians print more money making the value of its people and country worth less.
politicians get a fresh batch of counterfeit to steal.
In the end the politicians shift the financial burden to the people, and even the unborn don't get away unburdened.

In the end, the politicians steal the money then penalize the citizens for the crime. Heck of a racket.

Join the party.
Anonymous Coward
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05/09/2010 10:35 PM
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Re: Holy Crap EU Euro Rescue Plan Now Up To A Mind Blowing $962 Billion Dollars!!! Pin! This Is Epic!!!
One of the Doctor Doom economists said that when a country starts to buy their own bonds then the collapse is inevitable.

I can't remember who said it but not only is the EU bailing out the Euro on top of it all they will be buying their own bonds.
 Quoting: The Chef





Thank you for putting it in an easy-to-understand way, and that's essentially what is happening.

Europe does NOT have anything to guarantee their own Euros, just like America does NOT have anything to back up their own greenbacks.

Even if they used up all their gold reserve it still ain't gonna be enough.
He Who Walks Behind the Rows
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Cambodia
05/09/2010 10:35 PM
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Re: Holy Crap EU Euro Rescue Plan Now Up To A Mind Blowing $962 Billion Dollars!!! Pin! This Is Epic!!!
Not long at all the only one screwed here the most is the USA, they wont be able to print anymore no more buyers anywhere for usa debt it will be unattractive compared to the guaranteed debts of europe

[link to www.leap2020.eu]





Thing is, WHAT KIND OF GUARANTEE does Europe have on their Euros?

Same type of houses, made of cards.
 Quoting: Anonymous Coward 965938


its a numbers game, usa debts are larger than europes, captial will flee to the safest haven, who is going to by us bonds at 0% interest rates lol...europe is a better deal compared to the usa thats all that matters to tilt the balance. the whole greece thing was a smokescreen to stop the dollars collapse and it failed. Im not saying europe is immune cause eventually they will succumb, but USA will go first before they will thats for sure
The Chef (OP)

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05/09/2010 10:36 PM
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Re: Holy Crap EU Euro Rescue Plan Now Up To A Mind Blowing $962 Billion Dollars!!! Pin! This Is Epic!!!
And now the Fed jumps in. This gets better all the time.


May 9 (Bloomberg) -- The U.S. Federal Reserve said it will restart its emergency currency-swap tool by providing as many dollars as needed to central banks in Europe, the U.K. and Switzerland to help keep Europe’s sovereign-debt crisis from spreading to other markets.

The swaps with the ECB, Bank of England and Swiss central bank will allow them to provide the “full allotment” of U.S. dollars as needed, the Fed said today in a statement in Washington. A separate swap line with the Bank of Canada will support as much as $30 billion, the Fed said. The swaps were authorized through January 2011.

The Fed action came as European policy makers unveiled an unprecedented loan package worth almost $1 trillion to stop a crisis that threatened to shatter confidence in the euro. The Fed on Feb. 1 had closed all swap lines opened during the financial crisis triggered by the subprime-mortgage meltdown in 2007.

In a swap, central banks exchange foreign currency with an agreement to reverse the transaction at a later date. The central banks will then lend the dollars at fixed rates to firms in their countries. Dollar liquidity tightened in London last week amid concern financial institutions are holding too many assets of Europe’s most indebted nations.

The London interbank offered rate, or Libor, for three- month loans climbed 5.5 basis points to 0.428 percent, the highest level since Aug. 17, according to data from the British Bankers’ Association. It was the biggest increase since Jan. 16, 2009, and the 13th straight gain.

U.S. Pressure

The Fed’s swaps come at a time of increasing political scrutiny. Congress could ask why the U.S. central bank is expanding the supply of dollars to help smooth disruptions caused by fiscal imbalances in Europe.

Senator Bernard Sanders, a Vermont independent, wants the Government Accountability Office to look into Fed lending facilities during the crisis, including swap lines with foreign central banks, such as the $20 billion facility the Fed opened with the ECB in December 2007.

A vote on the Sanders amendment could come as soon as May 11 as Congress proceeds on the most sweeping overhaul of financial regulations since the Great Depression.

“Many members of Congress are deeply suspicious of the Fed’s interventionist instincts,” said Lou Crandall, chief economist at Wrightson ICAP LLC in Jersey City, New Jersey. “Bailing out Wall Street caused enough resentment; appearing to bail out Greece would be even more problematic.”

“The Fed cannot afford to rile up its congressional critics while the financial reform bill is still in play,” Crandall said before tonight’s announcement.

[link to www.bloomberg.com]
Anonymous Coward
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05/09/2010 10:37 PM
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Re: Holy Crap EU Euro Rescue Plan Now Up To A Mind Blowing $962 Billion Dollars!!! Pin! This Is Epic!!!
these toads could barely cobble together 100 bil as early as this morning... now we're supposed to believe they MIRACULOUSLY found 1 TRILLION???!!! Where??

I'll believe it when I see it. This looks like more financial gymnastics from the EU in a time of great desperation... maybe they'll short it for another few days? Who knows.

The rubber will meet the road soon for the whole system, that much is for sure.
Anonymous Coward
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05/09/2010 10:38 PM
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Re: Holy Crap EU Euro Rescue Plan Now Up To A Mind Blowing $962 Billion Dollars!!! Pin! This Is Epic!!!
DOOM RESCUES ITSELF FROM ITS OWN DOOM NOW!
The Chef (OP)

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United States
05/09/2010 10:39 PM
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Re: Holy Crap EU Euro Rescue Plan Now Up To A Mind Blowing $962 Billion Dollars!!! Pin! This Is Epic!!!
these toads could barely cobble together 100 bil as early as this morning... now we're supposed to believe they MIRACULOUSLY found 1 TRILLION???!!! Where??

I'll believe it when I see it. This looks like more financial gymnastics from the EU in a time of great desperation... maybe they'll short it for another few days? Who knows.

The rubber will meet the road soon for the whole system, that much is for sure.
 Quoting: Anonymous Coward 847197


I think they found the money from the Federal Reserve. They said they will send as many dollars as needed. Sounds like an open credit line to me.
Anonymous Coward
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05/09/2010 10:39 PM
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Re: Holy Crap EU Euro Rescue Plan Now Up To A Mind Blowing $962 Billion Dollars!!! Pin! This Is Epic!!!
The whole financial system is a huge sham now. No one has the money. Its all all bullsheet fiat digital digit money made up out of thin air. As usual.

What I don't understand is. If they're going to do it this way time after time. Why not give the billions and trillions to the people instead of the big banksters.

CAuse the banksters own the whole thing and they want the money. Tuff luck average people.
Anonymous Coward
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05/09/2010 10:41 PM
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Re: Holy Crap EU Euro Rescue Plan Now Up To A Mind Blowing $962 Billion Dollars!!! Pin! This Is Epic!!!
these toads could barely cobble together 100 bil as early as this morning... now we're supposed to believe they MIRACULOUSLY found 1 TRILLION???!!! Where??

I'll believe it when I see it. This looks like more financial gymnastics from the EU in a time of great desperation... maybe they'll short it for another few days? Who knows.

The rubber will meet the road soon for the whole system, that much is for sure.


I think they found the money from the Federal Reserve. They said they will send as many dollars as needed. Sounds like an open credit line to me.
 Quoting: The Chef


Anyone have friends working with the federal reserve printing press. I wouldn't mind a billion or even a couple million freshly printed up dollars.
Anonymous Coward
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United States
05/09/2010 10:42 PM
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Re: Holy Crap EU Euro Rescue Plan Now Up To A Mind Blowing $962 Billion Dollars!!! Pin! This Is Epic!!!
these toads could barely cobble together 100 bil as early as this morning... now we're supposed to believe they MIRACULOUSLY found 1 TRILLION???!!! Where??

I'll believe it when I see it. This looks like more financial gymnastics from the EU in a time of great desperation... maybe they'll short it for another few days? Who knows.

The rubber will meet the road soon for the whole system, that much is for sure.
 Quoting: Anonymous Coward 847197


Where's my trillions. I need new shoes for my mama.
Anonymous Coward
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05/09/2010 10:42 PM
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Re: Holy Crap EU Euro Rescue Plan Now Up To A Mind Blowing $962 Billion Dollars!!! Pin! This Is Epic!!!
Its the same old song and dance thats been played out for centuries..its the "Moneychangers" and the speculators that are destroying the world..in other words its the RICH ASS GREEDY bastages that are causing most of the problems now..they see a time for them to make money and they are redoubling their efforts to do so before everything goes up in smoke..greed pure and simple..and they should be tracked down and imprisoned for it.
Anonymous Coward
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05/09/2010 10:44 PM
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Re: Holy Crap EU Euro Rescue Plan Now Up To A Mind Blowing $962 Billion Dollars!!! Pin! This Is Epic!!!
these toads could barely cobble together 100 bil as early as this morning... now we're supposed to believe they MIRACULOUSLY found 1 TRILLION???!!! Where??

I'll believe it when I see it. This looks like more financial gymnastics from the EU in a time of great desperation... maybe they'll short it for another few days? Who knows.

The rubber will meet the road soon for the whole system, that much is for sure.


I think they found the money from the Federal Reserve. They said they will send as many dollars as needed. Sounds like an open credit line to me.
 Quoting: The Chef


Can you imagine the PR nightmare for this admin of the US basically writing an open ended check to the EU when we're broke?? Even for Obongo the usurper this is outer limits.
Anonymous Coward
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05/09/2010 10:45 PM
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Re: Holy Crap EU Euro Rescue Plan Now Up To A Mind Blowing $962 Billion Dollars!!! Pin! This Is Epic!!!
Its time to start buying paper :)
Anonymous Coward
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05/09/2010 10:46 PM
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Re: Holy Crap EU Euro Rescue Plan Now Up To A Mind Blowing $962 Billion Dollars!!! Pin! This Is Epic!!!
these toads could barely cobble together 100 bil as early as this morning... now we're supposed to believe they MIRACULOUSLY found 1 TRILLION???!!! Where??

I'll believe it when I see it. This looks like more financial gymnastics from the EU in a time of great desperation... maybe they'll short it for another few days? Who knows.

The rubber will meet the road soon for the whole system, that much is for sure.


I think they found the money from the Federal Reserve. They said they will send as many dollars as needed. Sounds like an open credit line to me.


Can you imagine the PR nightmare for this admin of the US basically writing an open ended check to the EU when we're broke?? Even for Obongo the usurper this is outer limits.
 Quoting: Anonymous Coward 847197


Thats what the federal reserve has been doing for the last year and a half. Why stop now. Just keep printing those trillions of digits.

Its all such a sham now its beyond rediculous. They're making up money out of thin air and coming up with excuses that its legal tender.

Hey, give me a billion or trillion while your at it.
Anonymous Coward
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05/09/2010 10:47 PM
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Re: Holy Crap EU Euro Rescue Plan Now Up To A Mind Blowing $962 Billion Dollars!!! Pin! This Is Epic!!!
Its time to start buying paper :)
 Quoting: Anonymous Coward 965962


toilet paper I suppose you mean.
Anonymous Coward
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05/09/2010 10:48 PM
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Re: Holy Crap EU Euro Rescue Plan Now Up To A Mind Blowing $962 Billion Dollars!!! Pin! This Is Epic!!!
Hey Italy, 965945 we bailed your ass out in world war I and II and we will do it again, Carve it in stone motherfucker, America will save your sorry pasta stinkin ass again. You love us and you fucking know it, admit it you pussy.
Anonymous Coward
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05/09/2010 10:52 PM
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Re: Holy Crap EU Euro Rescue Plan Now Up To A Mind Blowing $962 Billion Dollars!!! Pin! This Is Epic!!!
laugh

"OUR PRINTERS ARE BIGGER THAN YOURS"

chuckle

That was epic... thanks for the chuckle!
Anonymous Coward
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05/09/2010 10:53 PM
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Re: Holy Crap EU Euro Rescue Plan Now Up To A Mind Blowing $962 Billion Dollars!!! Pin! This Is Epic!!!
these toads could barely cobble together 100 bil as early as this morning... now we're supposed to believe they MIRACULOUSLY found 1 TRILLION???!!! Where??

I'll believe it when I see it. This looks like more financial gymnastics from the EU in a time of great desperation... maybe they'll short it for another few days? Who knows.

The rubber will meet the road soon for the whole system, that much is for sure.


I think they found the money from the Federal Reserve. They said they will send as many dollars as needed. Sounds like an open credit line to me.


Can you imagine the PR nightmare for this admin of the US basically writing an open ended check to the EU when we're broke?? Even for Obongo the usurper this is outer limits.


Thats what the federal reserve has been doing for the last year and a half. Why stop now. Just keep printing those trillions of digits.

Its all such a sham now its beyond rediculous. They're making up money out of thin air and coming up with excuses that its legal tender.

Hey, give me a billion or trillion while your at it.
 Quoting: Anonymous Coward 956505



difference is we've been printing it for our own purposes mostly. This would be whole different matter politically to further devalue our own currency by bailing out OTHER COUNTRIES AHEAD OF OURSELVES.

Obongo and the Chitown mafia can't take that heat.
Anonymous Coward
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05/09/2010 10:54 PM
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Re: Holy Crap EU Euro Rescue Plan Now Up To A Mind Blowing $962 Billion Dollars!!! Pin! This Is Epic!!!
This is serious.

This has to be bigger than just Greece to cause this.

Something else must be near collapse.
 Quoting: The Chef


hopefully the lies will end ...and the true 'adjustment' will occur.

can you say doom?
Anonymous Coward
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05/09/2010 10:54 PM
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Re: Holy Crap EU Euro Rescue Plan Now Up To A Mind Blowing $962 Billion Dollars!!! Pin! This Is Epic!!!
•Also since some of this money is coming from the IMF then some of it is US taxpayer money correct?•

About 20% of the IMF is US money.

With the currencys at par, a world currency is more plausible.
Anonymous Coward
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05/09/2010 10:54 PM
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Re: Holy Crap EU Euro Rescue Plan Now Up To A Mind Blowing $962 Billion Dollars!!! Pin! This Is Epic!!!
Hey Italy, 965945 we bailed your ass out in world war I and II and we will do it again, Carve it in stone motherfucker, America will save your sorry pasta stinkin ass again. You love us and you fucking know it, admit it you pussy.
 Quoting: Anonymous Coward 965967


YOU do realize the italians saved themselves from thier overlords eventually. Unlike us usa peasants. The usa slobs are still under the boot of the elite banksters here in the usa. Most of the fat ashed bought off bootlicking douche bags americans don't care. As long as they get thier pension checks and t.v. at night.
Anonymous Coward
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05/09/2010 10:56 PM
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Re: Holy Crap EU Euro Rescue Plan Now Up To A Mind Blowing $962 Billion Dollars!!! Pin! This Is Epic!!!
•Also since some of this money is coming from the IMF then some of it is US taxpayer money correct?•

About 20% of the IMF is US money.

With the currencys at par, a world currency is more plausible.
 Quoting: Anonymous Coward 965958


Its all just made up money out of thin air. The only ones that will wind up paying for it will be taxpayers(morons)
Anonymous Coward
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05/09/2010 10:56 PM
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Re: Holy Crap EU Euro Rescue Plan Now Up To A Mind Blowing $962 Billion Dollars!!! Pin! This Is Epic!!!
these toads could barely cobble together 100 bil as early as this morning... now we're supposed to believe they MIRACULOUSLY found 1 TRILLION???!!! Where??

I'll believe it when I see it. This looks like more financial gymnastics from the EU in a time of great desperation... maybe they'll short it for another few days? Who knows.

The rubber will meet the road soon for the whole system, that much is for sure.




I think they found the money from the Federal Reserve. They said they will send as many dollars as needed. Sounds like an open credit line to me.




Can you imagine the PR nightmare for this admin of the US basically writing an open ended check to the EU when we're broke?? Even for Obongo the usurper this is outer limits.




Thats what the federal reserve has been doing for the last year and a half. Why stop now. Just keep printing those trillions of digits.

Its all such a sham now its beyond rediculous. They're making up money out of thin air and coming up with excuses that its legal tender.

Hey, give me a billion or trillion while your at it.
 Quoting: Anonymous Coward 956505








I don't want to think.

I simply can't allow myself to think of the day that fat lady sings.

The bubble will burst one day. It's a matter of time.

And I just can't imagine what will happen.

Suddenly no matter if you have Euros or Greenbacks they all becomes worthless.

And there are only so much gold available - the world will turn into a barter system - all over again.

And upheaval would be tremendous.

There will be war.

There will be mayhem.

No, I just can't think of what might happen.
Anonymous Coward
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05/09/2010 10:58 PM
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Re: Holy Crap EU Euro Rescue Plan Now Up To A Mind Blowing $962 Billion Dollars!!! Pin! This Is Epic!!!
these toads could barely cobble together 100 bil as early as this morning... now we're supposed to believe they MIRACULOUSLY found 1 TRILLION???!!! Where??

I'll believe it when I see it. This looks like more financial gymnastics from the EU in a time of great desperation... maybe they'll short it for another few days? Who knows.

The rubber will meet the road soon for the whole system, that much is for sure.


I think they found the money from the Federal Reserve. They said they will send as many dollars as needed. Sounds like an open credit line to me.


Can you imagine the PR nightmare for this admin of the US basically writing an open ended check to the EU when we're broke?? Even for Obongo the usurper this is outer limits.


Thats what the federal reserve has been doing for the last year and a half. Why stop now. Just keep printing those trillions of digits.

Its all such a sham now its beyond rediculous. They're making up money out of thin air and coming up with excuses that its legal tender.

Hey, give me a billion or trillion while your at it.



difference is we've been printing it for our own purposes mostly. This would be whole different matter politically to further devalue our own currency by bailing out OTHER COUNTRIES AHEAD OF OURSELVES.

Obongo and the Chitown mafia can't take that heat.
 Quoting: Anonymous Coward 847197


Alot of the trillions the usa federal reserve and usa goverment has created out of thin air (future tax payer debt) went to european banksters. Just ask bernake. He'll tell you the truth. Har, har.
Anonymous Coward
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05/09/2010 10:58 PM
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Re: Holy Crap EU Euro Rescue Plan Now Up To A Mind Blowing $962 Billion Dollars!!! Pin! This Is Epic!!!
This is serious.

This has to be bigger than just Greece to cause this.

Something else must be near collapse.
 Quoting: The Chef



The bankers are just moving fiat currency around and calling it a "save." The original $750 billion dollars came from the US. Europe threw in some to make 1T Euros... but... it is all FIAT!!!

No REAL VALUE.

The end is here!!

News








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