***BREAKING NEWS** The new Deutsche Mark banknotes are here**Picture will follow tomorrow***

Other quotes from this article:

Mr Monks yesterday warned that the new austerity measures themselves could take the continent ‘back to the 1930s’.

In an interview with the Brussels-based magazine EU Observer he said: ‘This is extremely dangerous.

'This is 1931, we're heading back to the 1930s, with the Great Depression and we ended up with militarist dictatorship.

‘I'm not saying we're there yet, but it's potentially very serious, not just economically, but politically as well.’

And:


Leaders are expected to thrash out a rescue package for Spain’s teetering economy. Spain is expected to ask for an initial guarantee of at least £100 billion, although this figure could rise sharply if the crisis deepens.

And:

Yesterday’s report quoted German government sources saying: ‘We will lead discussions this week in Brussels concerning the crisis. It has intensified to the point that the states do not want to wait until the EU summit on Thursday in Brussels.”’

Sounds like a GREAT TIME for Germany to ditch this whole mess and bring back the DM!!!!!!!!!!! Before this black hole sucks German under!!

OK this part just piss's me off, GREAT find Jessica!!!:

Quote from article:

They’re playing offense: They’re whipping up deficit hysteria around the globe and calling for drastic cuts in middle class programs. Why? They want to ensure that their loans to governments aren’t threatened by rising public debt. Ironically, the public debt they’re so worried about was created in large part by them — the result of huge bailouts and other expenses stemming from the crash they caused.

They got an telephone conference earlier today.

In my point of view. Espania is now the next Pig in the Slaughterhouse.

[link to www.bloomberg.com]
[link to www.bloomberg.com]

and now we get to the point, where to big to fail becomes to big to bail.


Cause Spain is not as lightwighted like greece.

And if... an there is a big (?) if they can rescue Spain, next one is Italy in the Pipe.

Domino Stones are falling... and they fall faster day by day. Get save :-)

JUNE 21 2010
[link to www.facebook.com]

the "prophecey" guy has a problem with spelling

CAN THIS THREAD NOT DIE ALREADY???

Swiss love....can I ask "why" your there? Just got a call about a Large group of global investors that are heavily invested in currency of a few countries. Based on my intel, they are currently in Santa Monica, and are planning to remain there for the week. They met the owner of Dinartrade yesterday to arrange currency exchange.

Are you part of this group?

Real or fake this time?

[link to www.eutimes.net]

You could be at the cutting edge of knowledge, so better watch this thread closely. the euro has mere days left.

It's not ironic, it's intentional.

People at the top see everyone else as 'the little people' or the masses, or the 'great unwashed'. They seem themselves as special, different and therefore superior to everyone else. Whether due to riches or 'breeding' their main goal is to keep themselves as a separate and distinct class and remove any potential threats to their power.

They're not even worried about their loans to the governments. The very point is to wreak the middle class. They want to maintain disparity between themselves and everyone else. And to do that, you limit social mobility. And the best way to limit social mobility is to shrink the middle class.

Hi out there.

Take a look at this here.

[link to www.sueddeutsche.de]

sorry only in german.

In short, ECB tells that one or two major Banks in the Europ zone nearly collapse. The situation was more worse than Lehmann.

And that was the reason for the 750 Billion € aid package.

Maybe someone can translate it to english.

hmm i think it will not die unless the new DM is introduced in germany.
My guess.... ^^

This I wish would die! obama is a puppet!!! he does what he is told by the powers that run this world...they put him in office...he is not going anywhere anytime soon! If American people don't like it...guess what "tuff shit"...maybe the American people should have not follow their beloved founding fathers documents!

I follow this thread on a regular basis.Great to hear European perspective!

LOVE the title of the article:

the eve of the apocalypse

They may have stopped it back in May...but it was like putting a bandaid over a water leak!

Page 2 of article....very interesting what they did by way of the back door:

The first blow was the global financial system on 6 May, when the courses of the American Stock Exchange broke suddenly. The cause for this decline were still under investigation. On this day, attacked the concerns that already existed on Greek government bonds, suddenly all the financial markets.


State funding through the back door


In the euro area widened the distance between the Greek government bond yields on German government bond out considerably. At the market, the risk of infection to Portugal, Ireland and Spain and Italy was discussed. Supply and demand for the bonds of several euro countries came to a halt, for Greece, liquidity dried up completely. At the same time registered the ECB a failure of the market on which banks provide each other.


The consequences of the near-collapse are known. On the weekend of the 8th and 9 May laced European Heads of State and Government a huge rescue package for the euro area in the amount of 750 billion euros. Before them, ECB President Jean-Claude Trichet had described the dramatic situation as it is now published in the monthly report.


The ECB itself met the dramatic arrest of a taboo. It buys government bonds since this weekend, which itself is controversial in its own ranks. € 47 billion it has since been put into their books, all debt instruments from before Greece, Ireland and Portugal. The purchases are controversial, because it is a state funding through the back door. The ECB has called no limit on purchases.


Bad surprises attacked suddenly


The markets have calmed down, all these measures but only partially. The mistrust of banks has six weeks to the near collapse even further increased after. Increasingly, the banks create their euros at the ECB, because most secure, but does little interest. ECB chief economist Juergen Stark said in an interview with the weekly newspaper Die Zeit: "We have again a situation in which banks to trust each other not. You can deposit surplus cash with us more, rather than pass them on to other banks."


The report of the EBZ is about the events in a time when discussing the EU countries on the publication of the results of stress tests. These tests, carried out by the Network of European regulators CEBS should provide clues as to what extent banks are prepared for new financial market turbulence. Federal government and the Bundesbank have opted for a disclosure of the tests. However, there are voices in banking circles, the fear of German banks unpleasant surprises in the event of a publication.

Ando Gold is running from ATH to ATH

1260$ right now

[link to beta.thehindu.com]


DIDN'T THE IMF SAY THE SAME THING ABOUT GREECE???

Madrid, June 18, 2010
IMF downplays Spain’s economic woes

International Monetary Fund Managing Director Dominique Strauss—Kahn on Friday said he had a strong trust in the recovery of the Spanish economy.

The anti—crisis measures adopted by Prime Minister Jose Luis Rodriguez Zapatero’s government were “very efficient,” Mr. Strauss—Kahn said after holding talks with the premier during a working visit to Madrid.

Mr. Zapatero said he had informed Mr. Strauss—Kahn about new policies such as labour market and pension reforms which would allow “Spain to overcome the crisis with strength.” The reforms could let Spain to lay the foundations for growth in the next two decades, Mr. Strauss—Kahn said.

The European Union and the IMF have dismissed reports that Spain was about to be engulfed by a debt crisis similar to that of Greece.

The system is working perfectly.

It's based on taking more than you give.

Attaching interest to money is an effect of this choice.

You will eventually arrive at the point where you basically have to chop down trees faster than they regrow and the system collapses.

The top knows...The bottom does not because the bottom were not told and you all have fallen deeply in love with the system.

All the system is designed to do is what you see it doing.

Everything you all do and have been doing is wrong if your long term goal is to have a system that doesn't implode.

You idiots have been bawling about the system for all of recorded history but none of you has the foggiest clue what is actually going on.

You are all asleep dreaming you are awake.

You all don't come here searching for truth...You all come here looking for support for or to promote your cherished delusions.

An other article on the same report
Anatomy of a near-crash
[link to translate.google.com]

Anatomie eines Beinahe-Crashs
[link to www.spiegel.de]

New currency...

[link to www.businessweek.com]

US debt reaching its limit... ?

[link to preview.bloomberg.com]

"The euro is doomed"...

[link to www.youtube.com]

"Bank failure is 83rd in '10; pace more than double last year's"

[link to www.usatoday.com]

Will Germany return to the mark?
[link to babelfish.yahoo.com]

Original:
L’Allemagne va-t-elle revenir au mark?
[link to www.egaliteetreconciliation.fr]

Talk about China´s loosening of the peg. At the end of the interview, he talks about Germany: German exports to China have been soaring.

Germany has a completely different economic situation from the PIIGS. It makes no sense to continue sharing the single currency.

In the short run, the depreciation of the euro helps exports. Eventually, though, it will lead to serious problems, including inflation and high interest rates. It is suicidal to stay in.

These problems are all the worse because of the decisions to sustain bond issues by PIIGS--getting banks and the ECB to buy that junk.

There are numerous examples in history and we´re making the same mistake. Hopefully, we´ll wake up to the prblem before it kills us.


[link to www.bloomberg.com]

Very interesting, thanks!

Did you know you like Finnish music?

[link to www.youtube.com]

:)