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UK TELEGRAPH: We Risk Disintegration In Global Finance Within Days, Unless You Have Gold Bars

 
Inanna of Sumeria
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User ID: 485858
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10/06/2008 09:17 PM
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UK TELEGRAPH: We Risk Disintegration In Global Finance Within Days, Unless You Have Gold Bars
[link to www.telegraph.co.uk]
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Germany takes hot seat as Europe falls into the abyss

We face extreme danger. Unless there is immediate intervention on every front by all the major powers acting in concert, we risk a disintegration of global finance within days. Nobody will be spared, unless they own gold bars.

By Ambrose Evans-Pritchard

Last Updated: 8:37PM BST 06 Oct 2008

Investors will learn today whether the Paulson bail-out - fattened to $850bn (£480bn) by Congress - can begin to halt the death spiral in the credit system. So far, the response looks terrible.

Germany is now in the hot seat. The collapse of a rescue deal for Hypo Real Estate on Saturday threatens a €400bn (£311bn) bankruptcy that nearly matches the Lehman Brothers debacle for sheer scale.

Chancellor Angela Merkel has been forced to pull her head out of the sand, guaranteeing all German savings, a day after she rebuked Ireland for doing much the same thing. Reality intrudes.

During the past week, we have tipped over the edge, into the middle of the abyss. Systemic collapse is in full train. The Netherlands has just rushed through a second, more sweeping nationalisation of Fortis. Ireland and Greece have had to rescue all their banks. Iceland is facing an Argentine denouement.

The US commercial paper market is closed. It shrank $95bn last week, and has lost $208bn in three weeks. The interbank lending market has seized up. There are almost no bids. It is a ghost market. Healthy companies cannot roll over debt. Some will have to sack staff today to stave off default.



Last Edited by Account Deleted by User on 09/03/2011 01:25 PM
Anonymous Coward
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10/06/2008 09:19 PM
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Re: UK TELEGRAPH: We Risk Disintegration In Global Finance Within Days, Unless You Have Gold Bars
hellz yeah, thats how I roll.
Para Noid
User ID: 488235
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10/06/2008 10:46 PM
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Re: UK TELEGRAPH: We Risk Disintegration In Global Finance Within Days, Unless You Have Gold Bars
Intrest bearing fiat |requires| more money be created each year than the year before - add infinitum.

Come the year that they can't create more than last = GAME OVER.


_________________________GAME OVER_____________________
Free Store.

User ID: 151477
Canada
10/06/2008 10:56 PM
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Re: UK TELEGRAPH: We Risk Disintegration In Global Finance Within Days, Unless You Have Gold Bars
I just can't see gold holding your portfolio as before

The pyramid for those at the top and bottom are out of luck.

Keep your gold and I'll keep my food Lol
....................
Anonymous Coward
User ID: 589794
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01/09/2009 09:15 PM
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Re: UK TELEGRAPH: We Risk Disintegration In Global Finance Within Days, Unless You Have Gold Bars
4 month old news !
Anonymous Coward
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New Zealand
01/09/2009 09:24 PM
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Re: UK TELEGRAPH: We Risk Disintegration In Global Finance Within Days, Unless You Have Gold Bars
Iceland is facing an Argentine denouement.

 Quoting: Inanna of Sumeria

this has already happened, shtf in Iceland

have you been living out wilderness for 3 months?
INANNA
User ID: 583689
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01/09/2009 09:31 PM
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Re: UK TELEGRAPH: We Risk Disintegration In Global Finance Within Days, Unless You Have Gold Bars
4 month old news !
 Quoting: Anonymous Coward 589794


You've revived an old post from 10/6/08, look at the date arse.

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