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IMF Preparing For Bailout Cataclysm Part 2
From Bloomberg: "IMF is working to develop a precautionary credit line, MD Dominique Strauss-Kahn said." Last time they did the same with the New Arrangements to Borrow (discussed here), on April 12, a $1 trillion bailout followed. Get ready folks. Europe bailout two is coming.
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What happened to the first trillion? lol
everyting will come in three. The next QE will be 3 trillion, just watch my words ;)
I'll take the over on that.
Are you a listener to Antimatter Radio by any chance, Mr. 3?
Seriously.
Did Paris Hilton get ahold of the credit line or what?
Seriously I would trust Paris more than the ECB
At least she would buy something gold.
http://img.thesun.co.uk/multimedia/archive/00779/Paris_Hilton_779951a.jpg
the teleprompter gave us the heads up 2 hours ago, he stood right there and said this is all just a problem in europe, we are fine.
The little O-Dutch boy said that whilst he had his finger deeply in the quivering mass of the Dyke Twins: Frank/Dodd (Frank-n-Furter more like it.).
Dud you just made me spew lunch!
I remember when a trillion dollars was a whole lot of money. Seems like only yesterday.......wait....it was yesterday. Damn.
Funny.
"Get ready folks. Europe bailout two is coming."
or USA bailout #1?
Both! If either ones acts alone that currency goes down hard. If both conduct QE2 at the same time then both go down equally (and probable far less than alone) and thus all is well.
Money for nothing and your chicks for free.
"That's the way to do it..."
"That aiiiiiin't workin'!"
I want my... MTV
This is why the pressure on countries like Germany. If all the currencies rapidly lose value the masses will not notice as much. After all most everyone is trained to measure fiat currencies in relation to other fiat currencies. If they are all collapsing rapidly then none of them stand out. After all it's important to them that they don't spook the masses till everything has been stolen.
"If all the currencies rapidly lose value the masses will not notice as much."
They will. At gas stations and (jewelry) shops.
Subsidized public transportation and taxes on the rich and on "hoarders".
Will also see it as part of a fitness push. Telling us to ride a bike or walk to work, that it will be good for the economy, the Earth, and our health. It's blatant that will be part of the spin.
"See now you have to walk or ride a bike. This is good because it will get people in shape, and tax our medical system less. See everyone it's a blessing in disguise"
And good for being a strong and dutiful soldier, they will say.
Gas stations? Well they are already moving on a back breaking carbon tax scheme and possible war with Iran. Gas prices will move up, period. That's a must be. But a war with Iran or carbon tax would give some cover for a weaker dollar as well.
Look at the USDX, how is that measured? All the currencies are measured against each other, if they all cascade down the propaganda machine can keep the illusion going. Does anyone doubt that if the USDX was at 90 that Kudlow would crow about "King Dollar", even if gas costs $20 a gallon? They will simply spin it that if the individual is having problems it's not because the currency is melting, but because they are doing something wrong, or some outside force is to blame. Indeed look for them to scapegoat the speculator or foreigners (China anyone) to blame for the problem when they are slagging the currency openly.
The people took the bubble in housing quite well. Hell they have taken the looting by the TBTF quite well. I have no reason to believe that anything will roust the public until after everything has been stolen already.
Gas stations? Dude, the only people who will get gas are the truck drivers who are hauling you and all of your superfluous neighbors out to the fields to start your new careers as subsistence farmers.
As the DK's once sang in Holiday in Cambodia,
You'll work harder with a gun in your back
for a bowl of rice a day.
Slave for soldiers til you starve,
then your head is skewered on stake.
time to buy the shiny metal
Tin Foil? :>)
I keep a roll handy to quickly stuff in my baseball cap just in case.
Joking folks. It's not handy, it's in the store room.
Tin foil is magical.
Put it on a TV it increases reception of radio waves...
Put it on your head and it decreases it...
Hmmmm... hey, wait a minute... 8^O
Ground it to maximze its efficiency. Tesla Cages Bitchez!
They just can't wait any longer. The US will do so to in a matter of weeks. The longer they wait the more it's going to cost.
What happened to budget cutting and overall austerity? Does that jibe??
"Austerity" has been sold as a bill of goods, just like don't give loans to subprime borrowers or whateve else they want to pull out to pass the blame.
There is no out, you can cut it all and it just gets you to the same point.
Once you enter the event horizon, you might panic and use your rocket booster to try and escape the singularity, unfortunately once you have entered the event horizon... all paths lead to the same conclusion.
Either they find a way to sustain the unsustainable or collapse of the global credit system will continue, unfortunately to sustain this unsubstainable equation requires unlimited power. They don't called it a death spiral for nothing.
Austerity measures are going to fail just like the stimulus measures are going to fail, there is no plan that is going to work to the degree that humans wish.
"Stop spending" Rick and "Keep spending" Steve are both wrong, it's game over folks, just watching the meaningless final details.
There he is! I was wondering when Mr. Sunshine was going to make his appearance!!!
The use of the word human as if it applies only to others is rather unnerving. I now expect to wake up one day with "All your base are belong to Mako" showing on all TV & radio channels.
Mako, you really do have some fans don't you? I envy you. Having enemies like these little twats (as the Native Americans say) shows your might!
Socialism for the rich.
Stoicism for the proles.
I was wondering the same thing myself.
That only applies to "we the people".
Spain is burning
No political will in the US for more printing enter SDR/credit/printing
I keep looking for evidence to back up my deep dark sense that The Big Policy Call is for no haircuts on toxic debt in order to prevent an implosion in the health insurance industry, which would collapse the US health care system. Here's a nice little nugget from 2008:
"US Credit (Non-Government Bond) Markets
As we note elsewhere in this report, the US life/health insurers are major investors in non-government bonds. Figures cited by the III, but sourced from the National Association of Insurance Commissioners (NAIC, the umbrella group for the state and territory insurance regulators) indicated that bonds accounted for just over 71% of the life/health insurers investment assets of US$3,013bn at the end of 2008. No less than 70% of these bonds were from industrial and miscellaneous issuers (as opposed to governments and public utilities). Collectively, the US life/health insurers are one of the largest pools of capital that are exposed to any increase in volatility in US credit markets. Conversely, a decision by the life/health insurers to reduce exposures to bonds (which accounted for more than 75% of total investment assets in 2004) could have an adverse effect on credit markets."
They don't have the funds to play at that level. One or two small countries sure, but Europa....nope
Oceania is fine, it's Eurasia and Eastasia will have to worry about.
and what about Fantasia and Pesico...sia?
And how about Freedonia?
Screw it, I'm moving to Ecstasia.
Isn't that right next door to Potsylvania?
IMF statement translated into common speak:
Well, they are correct in a sense, it's what they don't tell you that is painful.
The system only works when you are created credit/debt at the exponential rate to sustain the prior. What would you service the prior with if new creation is not coming online? What they fail to tell you is humans have no ability to fund such infinite creation needed.
"Don't panic, we got your back."
Why would people panic, this is the way the system has been setup for 1000s of years. Expand to it's max height and collapse into a mess.
"There's no point in acting all surprised about it. The plans and demolition orders
have been on display at your local planning office in Alpha Centauri for fifty of your
Earth years, so you've had plenty of time to lodge formal complaints." -Jeltz(PA) Hitchhikers Guide to the Universe
I have come to the conclusion that you are in fact a dumb ass. Scotty, don't beam this one up.
"Denial is the most predictable of all human responses. But, rest assured, this will be the sixth time we have destroyed it, and we have become exceedingly efficient at it." -the Architect
I will gladly be the opposite of whatever you are. :)
Have a great time, I doubt it's going to be pretty in comparsion to today's standard. Good luck and everything, call me what you will the final conclusion will not be effected in the slightest. :)
RSDallas, you are a twat. Who bought your computer and set it up for you?
How many of you that have stopped PAYING, are suddenly getting 100 calls from the banker boys? ROFLMAO They are desperado now. Their biscuit wheels fell off the gravy train. Everyone needs to STOP PAYING! The system is so screwed, they can't do anything about it. OOH, they are going to report on your credit report. LOL
If I didn't pay them then, why would I start now?
Heh - not just the non-payers, Newtron. The Mrs. and I are among those idiots who pay their bills, in full, before they are due (CC for us are convenience, so we don't have to carry cash or write checks - nothing more).
We get, literally, 5 pieces daily of unsolicited mail from credit companies (Capital One and Bank of America being the most prolific) looking to give us, I added it up one day, literally 6-figures in credit on the spot - if we'd just be so kind as to move our (zero) balances to their cards.
We get as many as 2-3 phone calls a day, too.
They are absolutely desperate to try to separate me from my cash. Makes me think I want to keep me some more of my own.
In other words - Fuck off, Banksters.
If you stop paying please for the love of god fight their claim that you owe a debt. When they send you any letters to claim a debt ask them to either validate the debt, i.e. by proving it is lawful or just make a copy of letter and write in thick ink REFUSED FOR CAUSE which is the same thing as making them validate the debt.
Do you homework but I can gaurntee you that all the money people have recieved by either credit card or say for a home loan is not money that the bank had and then lent to you, they created the money with your signature, and under the law in order to validate a debt the person claiming one is owed has to prove that they gave consideration, and that they would suffer a loss.
If you have any other questions I would be happy to answer them.
Debt collectors are subject to the Fair Debt Collections act at the federal and if your state has a sister act that as well.
Lawyers are also considered debt collectors within the meaning of the acts if they regularly perform collection of debts. Whoops. There is no loan and there are no funds lent.
"Debt collectors are subject to the Fair Debt Collections act at the federal and if your state has a sister act that as well."
That is so funny!
They violate that act all day every day of the week and there is never a penalty. I generally tell them that I am in the neighborhood and would like to come by and drop off the payment. That usually shuts them right up because they are frustrated cowards that like to threaten and humiliate people all day.
You know, like the rest of the bankers, corporate overlords and politicians.
You can move into federal court under 28 usc 2201 for declaration as to the status of the specific lawyer or other debt collector in question. They have violated nothing until you get a declaration.
The law is linear.
Furthermore, I have previous posted Supreme Court decision that say attorneys who regularly collect debt are subject to the Act even in litigation, whoops. Going to be hard to serve the defendant when the defendant can tell you to stop contacting him.
http://www.law.cornell.edu/supct/html/94-367.ZS.html
Courts are for people with money and only one job (that might even allow a vacation!).
I would rather get ahold of the "collector" and pound him until blood comes out of his asshole.
But thanks for the info.
The info is free, standing up for yourself and learning is not. Keep up the good work.
BTW no reason to pound a collector physically, much easier than that and you don't have to wash your clothes from the stains.
A debt collector pretending to be an attorney is how I would word it.
Thanks, I'm just foolin'. I used to collect trade receivables and it's about being open and able to compromise. You collect much more that way in the long run. Good up front credit review is 80% to 90% of the game.
Consumer collections is a nasty, nasty animal and there are allot of stupid rude people that do it. Notice that none of these people ever use e-mail? Would not want those threats in writing now would we?
I re-married recently and my wife had a ton of problems left over from her X who did the usual childish stuff (fraud) on the way out the door. Funny thing is that no collectors call us anymore. For about a year and a half now.
It must have been something I said to them?
Just remember the whole "debt" thing is fiction, which is why "debt collectors" are a matter of "public rights". It's legalized fiction within the world of equity.
I wonder why you were junked?
I get junked by the same delusional individuals over and over. They want me to believe their lies and I refuse and they get mad.
Everyone cries that they are a victim, if they can't stand up for themselves I have no problem with them leaving the gene pool.
It was probably an out of work consumer debt collector that threw the junk on it. Cretin!
You had me until you spelled "guarantee" like "gaurntee."
Is that how you avoid accountability for your post?
"Hey, I didn't guarantee anything?!?"
/kidding
Thanks for the info.
Paying off debts in full accomplishes the same thing. Starve the beast.
Well the only thing left to do is cook the books or go home.
It won't even be considered "cooking the books" if everyone is in agreement that they either do so or let it crash. Desperate men with do desperate things. And oddly enough, some of what they do won't even be considered "desperate" but rather prudent or necessary.
I can't wait until I hear someone say they're doing it "for the kids". You know that's coming sooner or later. You just know it.
"And oddly enough, some of what they do won't even be considered "desperate" but rather prudent or necessary."
That's truly scary considering we have an administration that thinks the Constitution is obsolete.
The Constitution is obsolete, didn't you get the memo?
We're way past "the kids". The ramification of today's insanity will be felt by generations way, way down the line. So far down, evolution most likely will have kicked in.
I understand we are way past "the kids". But we are talking about soulless politicians and sociopaths. So "do it for the kids" will soon be coming to a microphone near you.
I'm looking for something like a currency split for G8 members. Everyone suddenly has twice as much cash, wages double, (added ) inflation hits 100%, and toxic assets disappear. Poof, no more problem ;)
10 yr note at 2.96%
30 yr note is at 3.94%
HOLY UH OH!!!!!!! Bernanke's plan is collapsing right before his eyes.
Today's 28 day bill went off at .152% today from last weeks .02%
Investors are going to start putting newly auctioned TRSY debt on the block for higher rates now. Much higher rates as default begins to creep in on the U.S.
I think this is the plan. I've been predicting that the 10yr would drop below 3% sinc ethe last time it ran up to 3.80-90 range. That low rate is created by Ben and the boys because they have created the free money for the banks to buy up the government's debt in the first place.
GS gets super cheap .25% money from the Fed and turns around and buys 10yrs at 3%. Under this scenario how much govt debt do you think the Blanfein will buy? He'll buy until the two rates get so close that it doesn't matter and the Fed isn't going to raise it borrowing costs anytime soon. Look for rates to keep trending down until they don't then POW! It's over.
This won't work either......fools.
Great. Another bailout. More free $$$$ for my trading account. :=)))
CNN International
Alleged Spies Hid Secret Messages on Public Websites
Moscow communicated with a ring of alleged spies in America by encoding instructions in otherwise innocent-looking images on public ...
...The donut has a red leopard. I repeat, the donut has a red leopard. That is all. Over.
What happened to "Paul has a long mustache."
Nice Red Dawn reference!!!
Gold bitchez!
Roger that.
The hungry aardvark has arrived at the diner.
LOLOL!
Embedding zip and rar files in jpg's, how do they work? lol
Just like 1931, wave 2 of a bank panic is getting off the ground. The bailouts as they stand were not enough. If big Spanish banks can't find counterparties then all the dominos fall. Because they're all massively interconnected from decades of stuffing their books with paper from deals made with one another. That's how they levered up a pyramid to give the illusion of big profits.
Ponzi schemes have one final outcome, collapse. Those who run the schemes have one option near the end, more debt and obfuscation. It ends when no one believes in the lies any longer. The IMF is the current tool for the international fiat Ponzi scheme!
Depressionomics, coming to a town near you.
BIG FAT MONEY
http://www.youtube.com/watch?v=TQp62kHgn04
Any word on HARRP being used to deflect the hurricane from the target area of the Gulf of Mexico?
also wondering who is long 40+ PE stocks right now? I just bought some NFLX and AMZN puts. Think those with big dollar amounts (PCLN and GOOG too) will be the first to fall.
Aw, how cute - the PPT is desperately trying to pour perfume on this turd of a market - to try to get someone, anyone, to believe it's pretty. Plucky little buggers, that PPT.
Exit question, do we actually test 1040 on the S&P before the day is out?
but, but, but Paul Krugman said the problem is inadequate spending. What's wrong with you people?
Strauss-Kahn is a Socialist that wants to be President of France.
He wants EU to have problems so that he can be kinda a Financial Messiah.
Look at the Countries that scream globally they have problems in EU. All have Socialist Gvnts.
1040 just broke.
The world economy is a giant Fonzie scheme that jumped the shark during an episode in October, 2008.
LOL
Nice turn of phrase.
But may I suggest you scan back to the false flag attacks of 9/11 if your looking to identify the point of no return for the financial/political/constitutional system's collapse.
Well, if we're going to be serious, then I'd choose the day the coach sent Johnson in to replace Kennedy.
Here's a WSJ article mentioning it in more detail: http://online.wsj.com/article/BT-CO-20100629-711552.html
"New Arrangements to Borrow" In other words: "I'm gonna NAB me some $$$ from the IMF. I mean, you can't even make this stuff up anymore!
Certainly a lot of details like that to take into consideration. Thanks windows vps | cheap vps | cheap hosting | forex vps