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Norway Stops Aid Payments To Greece
And here comes the first domino: according to Swiss journal NZZ, the Greek bailout is about to take a turn for the worse. "Norway will first stop all further financial aid payments to the highly indebted Greece. The reason is that Greece does not fulfill its obligations descendants, the Norwegian Foreign Minister Jonas Gahr Store said on Thursday before the Parliament." And with Norway which is a member of the European Economic Area, and actually one of the few solvent and non-basket case European countries saying let the chips fall where they may, it is just the first. Look for every other country currently on the sidelines vis-a-vis Greece (and just as insolvent) to follow suit as the European experiment falls apart.
From NZZ (google translated):
orway felt obliged to make payments to Greece until further adjust. He was "sad" about the decision because he does not aggravate the situation in Greece which would, Norway got no choice.
Norway is not an EU member, however, belongs to the European Economic Area (EEA). About this country is paying the money to compensate for economic and social disparities in Europe.
Aid does not reach receiver
As the EEA Iceland and Liechtenstein members suspect the country that its financial aid to Greece did not go to the intended recipient, reported the Norwegian news agency NTB.
Thus Athens is not following its obligation to fund under the financial assistance provided for projects to 50 percent with their own money. Of the grants of 248 million Norwegian crowns (39 million), which was originally for Greece are, so far only 13 million had been disbursed, reported NTB. The rest remains now frozen.
Look for the EUR not to be happy at all with this sudden and very much unexpected escalation.
h/t Alexander Gloy
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No more suvloki for you!
If Norway gets up, we'll all get up...it'll be anarchy
Screws fall out all of the time. The world is an imperfect place.
Impossible sir, it's in Johnson's pants.
'Claaaiirre'? Thats a fat girls name.
what am I??? What am I??? I am a walrus.
Norway: Eat... My... Shorts.
EU/IMF/TBTB: You just bought yourself another Saturday.
Norway: Ooh, I'm crushed.
EU/IMF/TBTB: You just bought one more.
Norway: Well I'm free the Saturday after that. Beyond that, I'm going to have to check my calendar.
Signed,
The Breakfast Club.
Anarchy != Chaos
Default/Restructuring is the correct option for Greece
Only after they can squeeze every last Euro out of the situation.
The irony of the Greeks about to get it in the ass.
That's wrong. After Greece got the EU to give them free money for their stupidity, they will default and start over clean just like Iceland. Now who is getting it in the derriere?
I think there is a BIG difference between Greece and Iceland. The EU will never allow Greece to have a start over. They will pay and pay dearly!
Just look at how many attempts there have been to make Iceland's citizens pay for the failure of a private bank! Thankfully their people have told the EU to go pound some sand.
Iceland hasn't started over. They didn't default on the IMF loans and are presently recieving more. The only thing that they defaulted on was reimbursing European depositors of Icesave (Landsbanki) and Landsbanki's debts.
European depositors were reimbursed by their respective governments (UK, NL) which are in turn being paid for their outlays by the sales of the assets of the defunct Landsbanki.
This idiom doesn't apply to the Greek.
it's nothing unpleasant to them.
I'm ready to bet 100,000 US dollars that Greece will never default.
AS long as you include "voluntary" restructuring as a default you are on.
and liability management exercises
AS long as you include "voluntary" restructuring as a default you are on.
That's not a bet! Greece defaults and shortly after the dominos stop falling 100,000 dollars becomes what you need to buy a beer. Put your money where your mouth is, man!
I'll take that bet. Seems like i've got no downside , never is along time.
And by the time you can pay out, those $100,000 will buy a tank of diesel.
HamyWanger
I'm ready to bet 100,000 US dollars that Greece will never default.
Would that be internet bucks bet under an anonymous name on a blog site?
Might be the 'correct' option, but DSK was forced out for a reason.
+1. Not only that, but the Hit Men who pulled it off managed to take the heat off of Apartheid Israel on Nakba day.
A Two-fer.
How can anyone blame Norway? The only reason to continue to keep lending money to Greece (although this story says it's aid) is if there was some reasonable expectation that Greece would get its act together and be able to pay back the debt. Lending money to a country that has a structural, long-term deficit is throwing money down a rat hole (and, yes, I'm aware of the analogies to the U.S.)
Falafel Failure!!!
+10, thanks for the chuckle.
Poof, goes the illusion.
Not sure this is such a big deal.
Norway is not part of the European Union.
That makes it a bigger deal.
Over on RAN Squawk it says: IMF says an Increase in Ireland's corporate tax rate is not consistent with goals of the EU/IMF program
I would call that bureaucratese for 'let them eat cake'....
The IMF is aligning itself in this instance with the Irish and against the EU leadership, primarily France. Most Irish people understand that the only reason Microsoft, Google, Oracle, Pfizer etc, etc, etc. have their European bases in Ireland is for the 12.5% Corporation Tax rate.
Raising that rate may make the French feel better, but it will not, in all likelihood, raise additional tax revenue for Ireland.
Layers...Here is a snippet of debate from ZH back in March--Irish contributions on the topic:
by Ferg .on Thu, 03/10/2011 - 13:33
#1036897
As a citizen of the Emerald Isle I can tell you , unequivocally , that there is absolutely no chance in the darkest corner of hell that the government here will agree to raise the corporate tax rate . It was Labour who introduced it back in the 1990's and both coalition parties campaigned for the ratification of the Lisbon Treaty with assurances that the rate would not be changed . It's an issue that garners quite a bit of attention over here and any attempt to alter the status quo would likely create quite the political/media shit storm .
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by THE DORK OF CORKon Thu, 03/10/2011 - 13:41
#1036933
It actually goes back to the 50s but Europe quite rightly forced us to tax global and local corporations at the same rate.
The Irish banks made huge profits from this rule change however (before the bust)
Never a fan of it myself given the huge distortions in the local economy it creates yet we have grown so dependent on this it would rip out all the industry in the country.
We really have a elephant man type economy - global corporations yet no fishing industry.
This was one of the reasons why Iceland could go tell the bankers fuck off as they still had internal capital to draw on - we have become too globalised to make independent waves.
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by Ferg .on Thu, 03/10/2011 - 16:06
#1037666
Yes I was thinking that myself . We've become hugely dependent on it and if it was altered I don't think the large multinationals would be sticking around for the pleasant weather . It's lustre is fading as well now that we've got more competition from Eastern Europe , but in the current economic climate there's no chance it'll be hiked .
Agreed we're very dependent on exports right now . Export strength has been mentioned on countless occasions by analysts and politicians as a pillar of recovery but that's a very dangerous scenario to place your faith in . One in which we're at the mercy of exchange rate fluctuations and shifts in foreign demand patterns . I suppose that's the price everyone pays for globalization participation though . Great in the boom years , a disaster when it all hits the fan .
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by THE DORK OF CORKon Thu, 03/10/2011 - 16:36
#1037805
A country with a extreme trade surplus is a colony pure and simple - we have nearly always had a surplus at least since the late 80s.
Since the mid 90s its gone crazy and therefore we are a jurisdiction of extreme profit for certain individuals and corporations.
There is nothing wrong with trade defecits if you can import physical capital and capital building structures that can sustain real long term wealth.
We imported decking.
Hey, Greece, I think Norway just called you a cunt....
Also implicitly stating that the Euro bail out countries are fucking retards.
sverige kommer inte betalar!
best google translate could give me.
any swedes have an on the ground perspective on this?
Sverige kommer inte att betala!
Sweden is not going to pay!
+better translation software
the only spin that can be applied here will be in the google translation.
Greece new they were going to default years ago....they just want to use the system and steal as much as they can until they do...I would too...if you are that stupid to give me money when I am broke...and have no way of paying you back...then give it to me baby
Ah, I see. Your real name is America?
this could be bigger than people think, the greeks are not the only ones getting this money from norway. easten europe also gets a lot of dosh and they are in a nasty place, the arab spring could easily become the easten block autum
richard, Seems like the whole world is approaching a nasty place. Let food prices continue to increase and a few more large natural disasters come our way and trouble will spread.
the withdrawel of credit (aka Norways two fingers to Greece) ushers in deflation of prices, not inflation ....watch the prices of yoghurt from here!
BTFGCDSR?
NOK is only currency I would own willfully (as in I am forced to transact in EUR & USD). Bravo for them.
Turns out the Grandma doesn't give you everything you want in life...
http://www.youtube.com/watch?v=HissNpug9KE&feature=fvst
Ex-Vikings telling Ex-Spartans to get lost.
when does the world unite, ignore the divide and conquer bs, and kick the elite bankers out of power...
when the world recognizes what real value is and what real money is and when fucknuts with degrees from Harvard can no longer manipulate both, so never.
Hedge accordingly.
On the same day someone develops warp drive: In other words NEVER. Mankind is nothing but glorified monkeys that require somebody rule over them with a whip. The acceptance of class structure is hardwired in our DNA just like it is with other mammals.
it is 'hardwired' if you're like those public sector zombies in Spain yesterday protesting about Govt cuts. What do these prats expect, the politicians are out of other peoples money and are bankrupt. Of course the entire public sector just doesn't understand the concept of 'bankrupt'... they think money grows on trees and there's an endless supply
i'm watching the Madrid protest as we speak. The crowd are cheering away to every speech... cheer away zombies, the (Govt) party is over, it's time to take out the rubbish
Easy money (FRNs) indirectly grows on trees, but sooner or later, all the ink in the world cannot disguise its worthlessness!
Years (and years) ago a grade school teacher wrote in my book, "Yours till Germany gets Hungary and fries Turkey in the Greece". It appears now that she was wrong, apparently Norway is going to turn up the heat fry Europe in the Greece!
It's about fucking time.
I completely agree.
And, I will move everything and everyone I know to the first US state that tells the Federal Gov't "We are no longer sending you tax receipts."
Bingo!
..but why wait for the States to tell Washington there's no more tax receipts... stop them yourself (the ultimate end of the political party system)
Oil and Silver are getting hog slammed.
They were doing pretty good. It always seems to be a bumpy ride.
its friday
It's almost like every time it gets to $100 /bbl 'Somebody' immediately knocks it back down a couple of bucks. I can't think of any reason for someone to want to do that. Can you?
This is a dollar story.
Greece/Spain are threatening to undo the euro by the seems. This is dollar positive.
China is slowing down. This is dollar positive.
Japan is weak. This is dollar positive.
QE2 is ending. This is dollar positive.
The government is being forced to put their financial house in order. This is dollar positive.
When the dollar goes up, commodities go down.
There is no conspiracy here, just common sense....which is why tmosely will never undertand and scream manipulation 'till he loses his voice.
Holding some physical will always be the first step to a diverse portfolio. PM's can always easily be changed into the "fiat du jour". So the dollar is getting stronger, if you think that is a good long term trade, well good luck with that. I see many already trading in other currencies and buying up physical. go sell your bullshit to the sheeple. Adapt or die.
'Dollar positive' lol....$100 trillion in the hole, minimum. Dollar is dead, Euro is dead, only depends on witch topples over face first onto the concrete.
lol, if you think that is the case, then you should go all in on dollars and US equities.
I might add that China and Japan are sitting on huge dollar reserves. If it comes down to a choice between holding those reserves and losing power to popular uprising (political or otherwise), which do you think they are going to choose?
And QE2 ending is dollar positive? Sure, just like the end of QE1 was dollar positive--lulz.
Funny how you claim that I don't understand this stuff when I have predicted everything that has happened--MONTHS in advance. High volatility with a downtrend in paper silver. Reduction in physical inventories. High and rising premiums. The East draining physical inventories from the West.
It's even funnier that you don't see where this is going. I WANT a lower price, and have said as much for months, simply because the artificially low price causes inventory to drain from the COMEX (which has happened, and is continuing to happen), which will lead to a COMEX default. Manipulation works in my favor long term. Sure, a higher price is nice in the short term, if I want to sell a bit and buy some consumer goods. But I don't REALLY want that crap. I want to own productive assets, and that is exactly what the gold I will trade my silver for will buy me.
The dollar and U.S. equities have an inverse relationship - stronger dollar means weaker stocks and vice-versa. You want to invest in either dollars or U.S. equities.
At what ratio are you thinking of trading your silver for gold?
Bob, you been in the koolaid again:
All the conditions above were in place while the dollar dropped compared to its peers.
Everybody knows that the money problems of the troubled Euro states are only just as bad, certainly not worse, when compared to the United States. This is not dollar positive.
China is slowing down, not going backwards. The US is looking forward, but has the truck in reverse. This is not dollar positive.
QE2 is ending, with nothing but air to follow, yah right. This is not dollar positive.
The gov`t is being forced to put their financial house in order, and by `order` I mean they are going to spend more than they have ever spent before while telling you 38 billion in cuts offset by new outlays is `fiscal prudence`.
When the dollar goes up commodities go down. Or when the dollar goes up anyone that still has way too much (read:any)of it on their books divests like there is no tomorrow, and if the rapturists are right...
Manipulation of currencies (including the hard ones like XAU XAG) looks a helluva lot more like fact than it does a wild-eyed conspiracy theory these days. Where have you been? With all the GS alumnis that have infiltrated Central Banks around the world, this is the one thing that could be fleetingly dollar positive, or yen positive, or CAD positive, or AUD negative, or Forint neutral; depending on their whim for the day.
The dollar is overvalued, the Euro is overvalued, and even the Yuan is overvalued.
When are ACTUAL liabilities ever going to be priced in?
Only Zimbabwe is undervalued.
Welllllllll. I wouldnt' say the country as an entity is undervalued, I'd say the land that it sits on is.
You suggesting a "final solution" for the locals?
I suggest nothing. I would just say that regardless of their recent "coming to jesus" moments, their government doesn't exactly have the best track record to say they're now "valued." (They could be saying we want da gold, gimmie da gold, just to stiff it to west like everybody else wants to do. Not necessarily because they honestly believe in "those fundamentals)
These governments are totalitarian and will stay so as the population is tribal in culture. But the chinese connection is creating big shock waves to this region which only had their past colonial masters as rich partners at terms which to say the least are neo-colonial. Lets see if China will do something to improve the situation of the common man. As the west, USA and other usual suspects, have never done anything to help in that area. Except through "charity" or "aid". For the latter, it always ended up as subsidy for private contractors from the aid donor country. Public to private pipe-line like military aid; classic ploy where the dictator gets his cut. Africa needs another economic paradigm. It has resources to make it possible, with an honest partner. Whoever he may be...lets hope that international competition will help in this area.
Indeud, the west is crying all the time about how "poor Africa needs our aid and charity", when fair recompense for the natural resources being extracted would do just fine.
Given the number of Kleptocrats in Africa, precisely Who would be "helped?"
A bit OT, but does anyone know when the Rapture is supposed to take place tomorrow? I'd be interested to listen in on that evangelist's radio show the day after the Rapture was supposed to take place.
All you are going to hear is an "any minute now" repeated ad infinitum until the end of the day. The end of the day will come and you'll hear either a "god was testing our resolve" or "what they REALLLLLLY meant by saturday wasn't the actualy day saturday... was some other day." Or finally "well it was more of a metaphor for... things are happening around the world... leading to the rapture.."
Funny. It's the religious version of Charlie Brown kicking the football.
This has happened before, you know. On October 22, 1844, the Christian cult known as the Millerites, having first divested themselves of their property, went out to the fields to await the predicted second coming of Christ, which according to their leader was scheduled for that day. They waited all day and Jesus didn't come. It became known as the Great Disappointment. The poor Millerites were thereafter greeted in the streets by the question, "Have you not gone up?"
I read that it takes place at 6:00, everywhere; 6:00.
The writer did not specify GMT or any other time zone, just 6:00.
The lord works in simultanious ways.
"Blessed are the Cheesemakers? What does he mean by that?" -- {"Life of Brian" (for all you cretins out there)}
What? You imply it's being manipulated? Are you implying something about this wonderful open and fair market? tsk tsk shame on you.
I respectfully and humbly take back my unwarranted and cynical comment. Our markets are, as you say, as pure as the driven snow, unsullied and untainted by any impure motive.
/Sarc
What? You imply it's being manipulated? Are you implying something about this wonderful free and fair market? tsk tsk shame on you.
Quintus - is not just oil, look G at 1500, silver at around 35 Euro at around 1.42...it seems as a last effort to hold a line in the sand before a major move...it gives the impressions of nothing going on...while its boiling under the surface...my instict by afternoon it will go up significantly, so the players are position for next week...over the weekend some news...Look out next week major upside move...just a feeling
in summary - they are bleeding and dont want to attract the sharks...can cover it for so long though..
Good call mate. $1,515 now and climbing and it isn't even the afternoon yet.
Ever seen what happens when you drag a basketball to the bottom of the pool? JPM/HSBC are just trying to do the same to the silver ball.
Norwegian middle finger
There's Norway out of here http://www.youtube.com/watch?v=gp1ekcwPNfQ
Norway, the only coutry in which i currently invest in any stocks
Norway is not part of euro, nor is it member of EU. It is oil/gas rich and therefore its reluctance to support the greek domino is no big political deal. Given the size of the Greek debt, it is more important for EU that the IMF joins the bond participation on terms acceptable to EU/Germany. That is the key greek bail-out issue, not Norway.
My investment thesis: not in EU, a sound currency, oil rich, responsible government/management
lol, you don't want them messing with greek financial dysentery...its like the aegean stables...
Norway up a Greek with a paddle.
Obviously the Squid new about this in advance
whooops, hatchet job.
First sign of Rapture?
Yeah, Norway with-holds 45 million dollars from Greece and the four horsemen of the Acropolis (there was a typo in revelations) come forth.
G-Papa rides his horse 'Austerity', Trichet's mount shits male cow manure all over the place, Von Rumpoy sits on his horse backwards because he knows of no other way, but the most fearsome is Merkel. Her scowl and bad posture make people run away in fear.
And then we all went back to whatever it was we were doing....
dup
Let them eat Lutefisk! Ja!
Lutfisk is poison
Let them eat Lutefisk! Ja!
let them eat Lutefisk! Ja!
let them eat Lutefisk! Ja!
no thanks but the rake fisk is quite good
We didn't catch that, you want to say it again for us?
I think he stuttered.
The NZZ is the only newspaper covering it? Haha, funny. They are usually very slow.
OT:
scores of 3.0 earthquakes hitting turkey, one after another, unreal!
3.0 is tiny. There are probably hundreds if not thousands of 3.0 earthquakes every day.
I can cause a 2.0 if I fart loud enough.
Turkey had a pair of earthquakes, 5.8 & 4.3, roughly 30 hours ago, according to this link. . .
http://quakes.globalincidentmap.com/
Norway pledged 248mill Kr (30mill Euros), of which 13mill Euros has been distributed. The rest is 'frozen'. Arguably, it's symbolic rather than substantial.
i love this market...sell USD
This "market" is retarded. As soon as the Dow hit -100 today it immediately bounced up 20 pts in about 2 minutes. I'd be highly shocked if we end up -100 or worse, but not at all surprised if we end up in the green, hell, even +100 wouldn't shock me. After all, the "correction" is over, BTFD and all hail the Bernank.
Lille Norge! Hoorah Norge!
http://www.youtube.com/watch?v=p_PIDbx9iS8&feature=youtube_gdata_player
[Erik - Vers 1] For hvem vinner hver gang i skirenn og skøyteløp Utvinner olje fra kilder i kjølige strøk Nasjonalt vil vi fremstå som best men Tjener du mer enn naboen din bør du helst holde kjeften din Individuelt teller ikke cash og fine damer Men som nasjon kan vi godt skryte av Lillehammer Carnival i Rio blir som småfisk mot hai For vi har både fakkeltog og søttende mai Svaberg er mye bedre milevis med gullstrand Og hvordan ville verden vært uten Harlem Brundtland Hva tror'u du kan Normandie var for pyser For verdenskrigen snudde brått når vi senket Blücher Og fuck brie vi har brunost og Jarlsberg Og alle vet at norsk mjød grisebanker Carlsberg Litt for stolt du kan si hva du vil For Norge er det eneste jeg ville gå til krig for [Refreng] (Det er lille Norge) Landet verden ikke klarer seg uten (Lille Norge) Verden navle ligger lengre nord (Det er lille Norge) Er du heldig og slipper unna futen Blir du hatet å kan gjøre det stort (Det er lille Norge) Fedrelandet selv Kongen gjør alt for (Lille Norge) Furet værbitt er religion (Det er lille Norge) Du klager alltid men likevel er glad for Å skryter av at det er typisk norsk å være god [Kriss - Vers 2] Å være vikinger sier ikke rent lite Og sier noen Bjørn Dæhlie blir det helt stille (Is that Bjørn Dæhlie?) Vi har Rosemarie Köhn hvem trenger paven Og verden sto stille da Oddvar brakk staven En julebordkultur som man ikke viker fra Drikker mer enn oss blir som å hoppe etter Virkola Bryr meg heller ikke hvem du er eller hvem du kjenner For Matt Dillon og Robbie Williams er Norgesvenner Du ska'kke tro du er no Du kan'ke lære oss no Ædabæda janteloven er no jædajæda Du ska'kke vise rikdom Men vi har mest i verden Og gjør du som oss kan du og bli best i verden Du ska'kke tro du vet no Du duger ikke til no Ædabæda janteloven er no jædajæda Bryter forsvaret om du vil sloss Jeg stiller opp med Aamodt og Johan-Olav Koss [Refreng] (Det er lille Norge) Landet verden ikke klarer seg uten (Lille Norge) Verden navle ligger lengre nord (Det er lille Norge) Er du heldig og slipper unna futen Blir du hatet å kan gjøre det stort (Det er lille Norge) Fedrelandet selv Kongen gjør alt for (Lille Norge) Furet værbitt er religion (Det er lille Norge) Du klager alltid men likevel er glad for Å skryter av at det er typisk norsk å være god [Arne Scheie - Vers 3] "Kjetil Rekdal fra.. Han scorer! Norge leder 2-1! Norge leder! Viva la Noruege! Olé Norge! Kjetil Rekdal og alle hjemme! Jeg har ikke opplevd maken! Og dette mener jeg av fullt hjerte! 2-1 til Norge!" [Refreng] (Det er lille Norge) Landet verden ikke klarer seg uten (Lille Norge) Verden navle ligger lengre nord (Det er lille Norge) Er du heldig og slipper unna futen Blir du hatet å kan gjøre det stort (Det er lille Norge) Fedrelandet selv Kongen gjør alt for (Lille Norge) Furet værbitt er religion (Det er lille Norge) Du klager alltid men likevel er glad for Å skryter av at det er typisk norsk å være god (Det er lille Norge) Ølelølleløylølleløyla (Lille Norge) Ølelølleløy (Det er lille Norge) Ølelølleløylølleløyla (Lille Norge) Ølelølleløy (Det er lille Norge) Ølelølleløylølleløyla (Lille Norge) Ølelølleløy (Det er lille Norge) Ølelølleløylølleløyla (Lille Norge) Ølelølleløy Lille Norge
Translation:
YOU ARE FUCKED.
No, it really says Norway is a proud little country! And they should be! Glad to have my roots there. A least they put their nation and their people before the banks, before globalism, and before China.
Norway rocks. And you had Edvard Grieg who composed this piece, applicable for bankster shenanigans. http://www.youtube.com/watch?v=SGigthgbpDI
I should have made it clear:
GREECE, YOU ARE FUCKED.
@ soar07
Which Norway do you live in?
"A least they put their nation and their people before the banks, before globalism, and before China"
Our beloved government provided the banking industry with a 350 billion NOK Bailout package.
Mr. Stoltenbergs' dear and near friends DNB raking in heavily on the deal paid for by the Norwegian Taxpayer.
http://www.vg.no/nyheter/innenriks/artikkel.php?artid=527351
And Yes, with a taxation of 56%, total general government receipts as a share of GDP according to data from 2009, we the people of Norway are World Champion Taxpayers.
Norway is a very useful sock-puppet in the hands of the USSA and NATO. FFS, we even paid tribute to Warlord O-bomba by giving him the Nobel Peace Prize. Pissing off China a year later with the same political motivated prize . . . admit, that was pure US Gold.
Besides appeasing the masters of the universe, astronomical tax receipts are needed to support our own big government and immensely over-sized bureaucratic system. In addition the excess dough comes in handy for our beloved politicians to uphold high levels of corruption.
Thank you for playing, now go back to sleep!
LMAO
LMAO, I don't live there. I am a third generation American of Norwegisn descent. I have spent a lot of time there, and while I don't the insight of a citizen, everything I have seen there has impressed me more than it turned me off. Also, it strikes me that in general Norway is doing a better job for her citizens than the USA for Americans. First of all, almost every small Norwegian town is nicer, cleaner, and safer than almost any I have ever seen in the USA. Also, the cleanest, nicest, safest towns in America seem to be in the parts of the USA that have the most Scandinavians, like Minnesota, where my relatives live. Norway taxes the hell out of income, sure but you get a lot more for what you pay. In the USA we pay significantly less, but we get almost nothing in return for the 20-40% we pay. No Free Higher Education, No Medical Care, No meaningful pensions system. Meanwhile our taxes pay for a bloated Federal Bureaucracy and the DOD, defender of the Globalist Corporate Empire. In College I had a summer job there in a Turisthytte. I made plenty of money as a college kid to have a blast while I was there for the whole summer. In fact, it was significantly more than I would have made in the USA and left me with plenty of spare cash. Americans succeed in spite of their government. Imho, Norwegians actually gain something from their system. Our system is busy handing off all the jobs to illegal immigrants, shipping jobs to China, and offering the average American a job at Walmart. Our system is turning into an epic fail. Norway seems pretty consistent and stable in comparison to the economic destruction of the status quo that Americans have lived with for the past 20 years.
You bring up plenty of specifics about Norway being economically corrupt, but the USA is every bit as corrupt on a scale 1000 times bigger. This website provides daily testamony to that fact. So, imho at worst let's say Norway is equally corrupt, the average Norwegian still has government that actually helps them. Ours has been bought by special interests, big globalized business, and China. Everyday Americans at the basic level see illegal immigrants stealing their jobs, see Chinese crap replacing American goods, and their jobs disappearing to China and India. That is not the impression I get from my friends and relatives in Norway.
Be glad Norway took at stand, even if it was a small one. We are watching the USA slowly turn into a fascist police state before our eyes. Think the TSA....
men hvorfor er det delig a vare norsk i danmark
Life must really suck over in Europe.
I'm so glad I'm in Amerika.
We have it so great here.
The Bernank is the fucking man.
Don't worry about Greece. Everything is fine in Greece. G-Pap said so.
Meanwhile on planet Earth ...
http://www.bloomberg.com/apps/quote?ticker=GGGB10YR:IND
Greece is expecting the fifth installment of its loan package, which will amount to 12 billion euros, next month but the troika has made it clear that Athens will have to speed up its work before then. The much-delayed midterm fiscal plan is due to be discussed during a cabinet meeting at the beginning of next week.
The International Monetary Fund added to this pressure through its chief of mission in Greece, Poul Thomsen, who on Thursday informed the government that the latest inspection by the troika, which includes ECB and Commission representatives, would be suspended. Sources said the troika officials told Athens that there was no point in continuing until the government has drawn up further austerity measures and gets the ball rolling on the sale of state assets.
The good collateral is gone - Germany already has a claim on the next 100 years production of olive oil and stuffed wine leaves and China has Piraeus Harbor. And the railroad staff can still retire at 52 with full pay and health benefits.
Rumor sofar...?
When Greece defaults, the debt dominoes are going to hit EU banks. The ECB is likely going to need to crank up the printing press (or let the Fed do it via swap agreements). Japan's BOJ will also likely need to follow suit soon if they feel the need to intervene in their recession. How long after those two events will the Fed wait before QE3? They can't let Japan and the EU beat them in the race to the bottom.
"When Greece defaults, the debt dominoes are going to hit EU banks. "
And that's precisely why Greece will never default. The PigMen are perfectly aware of this.
Sure, the cartel created the world currency a long time ago. The dollar strengthens until it doesn't, what is your fucking point hamy?
Whatever, Zerohedge staff troll. Hey can you let RainbowTrader troll out to play for a while?
This is bullish for OpEx, right?
Surprise, surprise . . . .
Since the Norwegian Oil-fund heavily invested into PIIGS and other European debt related paper (roughly about 800 billion NOK) it was only yesterday it finally started to dawn on them that this debt will never be repaid... and yes, nobody NOBODY saw this coming..... They finally decided to hit the brakes off the already crashed vehicle in an effort to contain the damage.
That's how Norway rolls.
LMAO
+1
Despite being tiny, Norway's SWF is the 2nd largest in the world.
It is also odd, in that it has a large list of non-investments for ethical concerns (something entirely foreign to, let's say, GS).
http://en.wikipedia.org/wiki/Government_Pension_Fund_of_Norway
That's the real prize in this game; you should know this from the 401's being targeted.
Money is not the only medium of exchange.
Norway lands more Irish fish then the Irish.
Landings in the waters of Ireland - Sea Around Us Project
http://www.youtube.com/watch?v=Pj2NOTanzWI
not meant to be diminutive.
Dork,
I sincerely hope the fine people of the Emerald Isle are getting properly compensated. If not, I'll try to persuade our morally good and correct government to take on some more Irish debt paper.
Yours truly,
LMAO
Thank You , LMAO
The Norwegians probably accurately report their catch - as for the French and Iberians I am not so sure (anyhow the price of the catch varies wildly with the fish species caught so it can be hard to tell who is telling porkies)
Take those figures with a large amount of salt - the Irish seas have always been a lawless place.
The disaster that is the Irish fishing industry - Tim Pat Coogan
"the Norwegian Oil-fund heavily invested into PIIGS and other European debt related paper (roughly about 800 billion NOK)"
Yeah, I remember reading about six (?) months ago a statement by the head of that fund that he was investing heavily in Greek bonds for their great yield. I wonder if he will get fired, or even learn a lesson.
Let me assure you Roger,
He will be given a medal on behalf of the financial criminal cartel for taking one of the worlds largest SWF to the cleaners.
The sheeple will wake up once they realise that the coffers are empty and the "pension" is a word no longer available in any dictionary.
LMAO
got to love Iceland and Norway (especially their women)
They can't allow Greece to default and they will do everything in their power to stop it from happening.
The printing presses are already warmed and ready.
Meanwhile the real action is over in Spain, where a revolt is taking hold.
Government bans protests = protests become even larger.
Soon, social unrest leads to the unraveling of the state, similar to Greece.
Then this spreads to Italy--actually it has already started--then the real stakes are raised.
Like a nuclear chain reaction, each subsequent sovereign blow up leads to a weaker and weaker ECB and more loses for the insolvent banking system.
Capital flees the region.
It is at this point that the dollar will surge relative to a collapsing Euro.
The only way out will be a total restructuring of the fiat based monetary system in the EU.
Things revert back to the way they were, while the wealth of citizens accross the region is wiped out.
This will lead to a global depression and another credit crisis, except this time there will be no room for central banks to manuever without destroying all fiat based currencies, as the debt in the system is past the tipping point.
All this will unfold with lightening speed, most likely within the next 12 months, if not sooner.
Yes and that's why we need a one world government to save us from all the ills of the collapsing currencies.
People will demand it.
It will all come naturally.
Run by FreeMasons, the Rockefellers, the Rothschilds and the bankers, right ?
Ahahahahaha !
Nice try.
Little hint:
These incompetent maggots couldn't even tie their shoes without help.
We don't need no fucking World government.
Once the EU implodes we will be moving one step away from world government, as that region was and is seen as a key piece in the ultimate goal of a unified ruling class structure.
Why do you think they are so desparate to save the Euro?
Once it goes, any hope of a single world govnerment will have been destroyed forever.