Author Topic: Is the EU Going to Topple?  (Read 104752 times)

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Offline BMG

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Re: Is the EU Going to Topple?
« Reply #100 on: November 28, 2011, 12:32:10 PM »
http://www.ft.com/cms/s/0/d9a299a8-1760-11e1-b00e-00144feabdc0.html

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In virtually all the debates about the eurozone I have been engaged in, someone usually makes the point that it is only when things get bad enough, the politicians finally act – eurobond, debt monetisation, quantitative easing, whatever. I am not so sure. The argument ignores the problem of acute collective action.

Last week, the crisis reached a new qualitative stage. With the spectacular flop of the German bond auction and the alarming rise in short-term rates in Spain and Italy, the government bond market across the eurozone has ceased to function.

The banking sector, too, is broken. Important parts of the eurozone economy are cut off from credit. The eurozone is now subject to a run by global investors, and a quiet bank run among its citizens.

This massive erosion of trust has also destroyed the main plank of the rescue strategy. The European Financial Stability Facility derives its firepower from the guarantees of its shareholders. As the crisis has spread to France, Belgium, the Netherlands and Austria, the EFSF itself is affected by the contagious spread of the disease. Unless something very drastic happens, the eurozone could break up very soon.
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Re: Is the EU Going to Topple?
« Reply #101 on: November 28, 2011, 01:36:47 PM »
http://www.ft.com/cms/s/0/d9a299a8-1760-11e1-b00e-00144feabdc0.html

Quote
In virtually all the debates about the eurozone I have been engaged in, someone usually makes the point that it is only when things get bad enough, the politicians finally act – eurobond, debt monetisation, quantitative easing, whatever. I am not so sure. The argument ignores the problem of acute collective action.

Last week, the crisis reached a new qualitative stage. With the spectacular flop of the German bond auction and the alarming rise in short-term rates in Spain and Italy, the government bond market across the eurozone has ceased to function.

The banking sector, too, is broken. Important parts of the eurozone economy are cut off from credit. The eurozone is now subject to a run by global investors, and a quiet bank run among its citizens.

This massive erosion of trust has also destroyed the main plank of the rescue strategy. The European Financial Stability Facility derives its firepower from the guarantees of its shareholders. As the crisis has spread to France, Belgium, the Netherlands and Austria, the EFSF itself is affected by the contagious spread of the disease. Unless something very drastic happens, the eurozone could break up very soon.

It's easy to predict that failures will fail some more, so...I expect a break up.
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Re: Is the EU Going to Topple?
« Reply #102 on: November 29, 2011, 11:26:12 AM »
Hey, lookie here!

InTrade Odds On Euro Collapse By End Of 2012 Now At 50%
http://www.zerohedge.com/news/intrade-odds-euro-collapse-end-2012-now-50

Gosh, why wouldn't the Euro-bailout work, it looks perfectly designed by all the pointy-little heads!



H/T - ZeroHedge
http://www.zerohedge.com/news/efsf-flowchart

The comments (as always) are priceless!

(I have to activate my membership so I can start joining in the fun!)
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Offline Damn_Lucky

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Re: Is the EU Going to Topple?
« Reply #103 on: November 29, 2011, 06:04:35 PM »
Everybody but us peons will get a bailout.........@#%^%$@^%&^$%#$&$@&^(:>(                 ::bashing:: ::cussing::
A nation of sheep will beget a government of wolves - Edward R. Murrow

Online Libertas

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Re: Is the EU Going to Topple?
« Reply #104 on: November 30, 2011, 07:26:31 AM »
Yes, you won't get a bailout, you'll get an invoice, an invoice you cannot refuse to pay under penalty of forfeiture of property.
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Offline Weisshaupt

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Re: Is the EU Going to Topple?
« Reply #105 on: November 30, 2011, 09:01:28 AM »
Kick the Can! - The US helps  Bail out Europe



Online Libertas

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Re: Is the EU Going to Topple?
« Reply #106 on: November 30, 2011, 09:03:22 AM »
Neo-Keynesian jackasses!
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Offline Weisshaupt

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Re: Is the EU Going to Topple?
« Reply #107 on: November 30, 2011, 09:50:56 AM »
And don't forget that China has its own looming credit crisis

Lowering the reserve rates banks need to keep so they can stay solvent and still provide credit.   Yeah, that will end well.

Point is, the Euro, the Dollar and the Yuan are all in trouble. The contagion has spread, and there isn't a fix.  It collapses. Now or Later. Politicians always choose later, and when they can no longer choose that, they will choose war (after all, what is there to loose? Just the lives of peasants. What do they gain? A more command and control economy, and an external enemy to blame hardships on.)  There are times when I wish I had not read so much history.

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Re: Is the EU Going to Topple?
« Reply #108 on: November 30, 2011, 11:29:10 AM »
The ChiCom red rooster is coming home and he's gonna trash the hen house, that's for sure.

And, it appears the EU bailout was leaked   ::speechless::  by the Ben Bernanke & the proglodytes made out like bandits, somebody check Buffett's & Soros's activity, I bet they made out like demons!

http://www.zerohedge.com/news/did-fed-leak-european-bailout-decision-monday-morning-visual-exhibit#comment-1930957

Sometimes these   ::foilhathelicopter::   ::foilhathelicopter::   ::foilhathelicopter::  are fricken real!

Oh, and this is a hoot!

http://www.zerohedge.com/news/fed-cancels-pomo-due-system-difficulties?page=1

System difficulties! 

Comment by Quacker almost had me spray my screen!

"They're frantically calling tech support in India as we speak ..

Fed: Our system is broken! ..

Mehendra: Oh I am so sorry to hear that .. did you try unplugging it and plugging it back in?"

 ::hysterical::

Seriously though, how vulnerable are systems?  We know the people running things suck, but the hardware and software appears sub-standard too!

http://www.marketwatch.com/story/nyse-reports-trading-glitch-2011-11-30

Want more mystery?  Sure, no problem.  Remember the robo-signing affair?

http://www.mynews3.com/content/news/story/Notary-who-blew-whistle-on-foreclosure-fraud/gdZL4mIJ50CzCFK8GI33_A.cspx

A note on personal liquidity, if you need it, might not be a bad time to sell PM's, I got a feeling they'll drop as more margin calls come in soon and as panic spreads once todays happy-happy unicorn hunt turns to sh*t!

We are now where The Founders were when they faced despotism.

Offline Sectionhand

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Re: Is the EU Going to Topple?
« Reply #109 on: November 30, 2011, 02:24:40 PM »
This bailout looks like nothing more than a 10 day reprieve before the Stymie hits the fan .

Offline Weisshaupt

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Re: Is the EU Going to Topple?
« Reply #110 on: November 30, 2011, 05:06:12 PM »
Will the Eurozone Last the Year?

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The reality, though, is that there are no safe havens anywhere any longer.

 And more on the fed bailout

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While the effort to provide more liquidity may temporarily soothe the symptoms of Europe’s debt crisis and allow financial institutions easier access to funding, it does little to address the underlying roots of overburdened governments that need to be propped up while they drastically cut spending.

Good thing we don't live in a country with a debt crisis and a need to drastically cut government spending, otherwise we couldn't help Europe out. Right?  
And the DOW is up over 12000.  If you still own stock, I think this would be an excellent time to exit.

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The world's major central banks including the ECB, Federal Reserve, Bank of England and the central banks of Canada, Japan and Switzerland agreed to coordinated action to ease the increasing strains on the global financial system. The move is designed to "enhance their capacity to provide liquidity support to the global financial system."“If you stop and think about it, you have to realize what kind of danger the world is in for all the central banks to get together and save Europe,” said Alan Valdes, director of floor operations and VP of trading at DME Securities.Meanwhile, Valdes added that barring overly negative news from the euro zone, the market is poised for a “Santa rally.”



« Last Edit: November 30, 2011, 05:20:22 PM by Weisshaupt »

Offline Delnorin

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Re: Is the EU Going to Topple?
« Reply #111 on: November 30, 2011, 05:11:11 PM »
Socialism, the ultimate Ponzi scheme without peer.
It's to die for, ain't it?
 ::unknowncomic::

Funny... I read that real fast and didn't read it right.

I read:  Socialism, the ultimate Pelosi scheme without peer.

Online Libertas

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Re: Is the EU Going to Topple?
« Reply #112 on: November 30, 2011, 05:38:58 PM »
Socialism, the ultimate Ponzi scheme without peer.
It's to die for, ain't it?
 ::unknowncomic::

Funny... I read that real fast and didn't read it right.

I read:  Socialism, the ultimate Pelosi scheme without peer.

The end result is the same, complete ruination and tyranny.  The Pelosi's of the world are stupid enough to think the ruination part is controllable and that they'll survive to become the tyrants...
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Offline Sectionhand

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Re: Is the EU Going to Topple?
« Reply #113 on: December 01, 2011, 01:34:27 AM »
I guess the Fed and Wall St. have forgotten that MF Global was destroyed by gambling on European debt only a month ago . The only crazier thing would be to put a moron in the White House ... Ooops ... We already did that , didn't we ?

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Re: Is the EU Going to Topple?
« Reply #114 on: December 01, 2011, 06:52:06 AM »
I guess the Fed and Wall St. have forgotten that MF Global was destroyed by gambling on European debt only a month ago . The only crazier thing would be to put a moron in the White House ... Ooops ... We already did that , didn't we ?

 ::unknowncomic::
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Online Libertas

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Re: Is the EU Going to Topple?
« Reply #115 on: December 01, 2011, 06:56:56 AM »
Peter Schiff on the bailouts.

http://www.zerohedge.com/news/peter-schiff-explains-what-todays-global-fed-funded-bailout-means-future#comment-1934438

I think he is spot on, but I think additional buying opportunities in PM's is coming, I think liquidity cruch and margin calls will cause a general sell off, and then the march upward will resume.

PS-Don't know why so many Schiff haters are commenting at ZH, I finally joined up and began responding to them, but like libiots they thrive on being assholes...a lot of PaulBots around too...and the inescapable spammers!
 ::)
That's life in the digital age...
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Offline Weisshaupt

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Re: Is the EU Going to Topple?
« Reply #116 on: December 01, 2011, 11:57:13 AM »
Okay, so maybe looking up a picture for my pseudonym was a bad idea-- I started re-reading Cerebus.  However this page struck me as especially funny:


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Re: Is the EU Going to Topple?
« Reply #117 on: December 05, 2011, 11:33:10 AM »
Franco-German plan calls for big ruler with which to spank undisciplined members

http://www.reuters.com/article/2011/12/05/us-eurozone-idUSTRE7B30AO20111205

Good luck with that!

Meanwhile, back in the United States of Amerika, The Ben Bernanke is ready to float more money to IMF to piss away in Europe...

http://www.reuters.com/article/2011/12/04/us-eurozone-imf-fed-idUSTRE7B30X320111204

 ::)

 ::mooning::
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Online Libertas

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Re: Is the EU Going to Topple?
« Reply #118 on: December 08, 2011, 07:59:43 AM »
Perhaps this is what Merkel & Sarkozy were trying to get ahead of...

http://www.zerohedge.com/news/why-uk-trail-mf-global-collapse-may-have-apocalyptic-consequences-eurozone-canadian-banks-jeffe

(Cue apocalyptic music)
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charlesoakwood

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Re: Is the EU Going to Topple?
« Reply #119 on: December 08, 2011, 01:05:24 PM »

[blockquote]
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where every day could be the developed world's last if not for the ongoing backstops, guarantees and bailouts of the central banking regime.
[/blockquote]