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Government cannot collect revenue in deflation. So they will print, print and printl
No, they won't. It's not within its powers. Germany will never allow ECB to print the same way chairsatan has done. Expect the EUR/USD to print 2.00 - the amount of hopium produced by the troika is just stupendous.
So the European Central Bank operates under strict monetary rules and transparancy?
Please feel free to expand...
No, of course not. But money printing is somewhat more complicated for the ECB.
Just like putting hotels on Park Place is technically more complicated than putting hotels on St. James in Monopoly...
If you can't see the point trying to be made here, you really must have bought the story about European unity. The Euro is flawed by design, which is precisely why we are witnessing this farce and it is precisely the reason why good old Jean Claude has had a much harder time than the Bernank.
I'm not seeing your point. Jean Claude may have better PR but the EFSF is definitely printing money and basically ramming it down member states throats. They need to reguage the elitists bank accounts by forcing more debt -- hence print more money.
If anything, the EU being flawed by design with even more room to print than the Bernank.
Bingo. Thanks for doing my job without the sarcasm...+1
The question was not whether the ECB prints money, but whether it would be just to "print, print, print". I don't think the ECB with some 20+ sovereigns/fiscal policies is quite in the same spot as the Bernank. JCT may want to print, but the political landscape is quite different compared to US.
Meanwhile, in a parallel universe, Belarusia is being sucked into a black hole, while the rest of the world plays ostrich head in the ground pretending they don't see the incoming tsunami emanating from the erstwhile soviet province.
"As of 1 June inflation in Belarus is estimated at 20.2%."
With prices soaring 20% in just 2 days, the Belarusian multi Ph.D. economists should take a cue from the CME and hike margin rates for food, gas, and well...everything under the belarusian sun...because those price increases are a clear sign of a bubble.
And when the CHF hits 1.20USD in a few minutes/hours, another house of cards comes down.
As Tyler says, there is an app for that:
A bunch of pissed of greeks not getting there hand-outs anymore... this is not going to end well
And a bunch of arrogant bankers trying to suck the blood of a dried up corpse. Definitely not going to end well.
God, I hope it doesn't "end well." I hope that our fat, lazy Greek brothers throw down like a drunken extended family in a trailer park holiday celebration when the COPS film crew shows up. Banksters should be understood as mankind's common enemy, imo. The Greeks are at the cutting edge.
View the Greeks as badly as you like as a people, but at worst what we've got is a bunch of bullshitters telling the banksters that they best not try bullshitting bullshitters.
Said banksters have no trouble grinding down better people, anywhere you might look. No trouble at all. They even have armies of useful idiots out there evangelizing for fiscal responsibility/austerity. Talk to the hand.
Anschluss was a perfect choice of words for this situation.
We maybe probably gotta tax the financiers into something more nearly resembling their proper place. Before it's too late.
If we're not gonna put 'em behind bars or on lamposts where they belong.
Here's hoping they return to their roots: http://www.youtube.com/watch?v=EmOH5f1J1Uc
Hopefully the emissary is a banker.
They gave up their printing press when they joined the club.
World Revolution anyone? Down with the Global Bank Cartel.
I think this ends with Greece out of the Euro. Just a feeling.
Can someone explain the financial system in Europe ?
All nations states have to borrow though ECB and no nation state can print ?TY
It's all greek to me.
You might as well be speaking Chinese. We all will or Russian by the end of this. ;-)
I think China has far more problems beneath the surface then most people would believe; one of the benefits of having an authoritarian centrally planed government is that ability to hide most of the toxic crap building up in your system.
...you may have point on that Russian thing. Time will tell.
They're so sly. All this time they have been quietly building up their arsenal, never opposing us directly unless our proxies encroach on their backyard, and allowing us to over-extend ourselves.
Basically, they've not managed to reduce spending, reduce the deficit or increase tax revenue, but they've promised to try really hard in the future, whenever that comes.
The markets are going to take great cheer from these new promises from the Greeks, and forget the jobs number in order to close green...
Definition of Loan Shark on Investopedia - A person or entity that charges borrowers interest above an established legal rate.
I hope they take the bailout , or it will be bad business for us ,because whilst the world gets in debt its easy money
BOTH WAYS THE PEOPLE LOSE!!!!!! THE BANKSTERS WIN!!!!
Only until the return of the Guillotine.
Bullish. Am I the first to get that out?
More seriously, Greece has been Act One in a very long and very bad play. Coming to a theatre near you.
If you do not have gold, you should go buy some ASAP.
Agree, risk is rising for retail to find, 'Gold sold out, restock date unknown', at their local dealer. Shock and aweful time is nearing..
Much like here in the US, the unholy union of policymakers and bankers will only rape and pillage the peasantry-- spending doesn't matter when it comes to billions of bailouts that have only made the financial system more unstable and deviate further from its original purpose of utility, trillions in stimulus that have not moved the economic needle (in real terms), but it now matters when it comes to social benefits for those who couldn't benefit from the ponzi that is the world economy what a joke.
Nothing like manipulative MSM, police batons, and pepper grenades to help implement rapacious initiatives.
Could you imagine what America would be like if foreigners owned our utilities back in the early 1900s? Only the rich parts of certain cities would have running water and electricity today. Rural farms, forget it, the investors need their money back.
The toll both economy. Owned by bansters for banksters.
Good analogy!! I like it. Milestones
An add on the advise to Greece:
1) Take the $$ never mind the terms!
2) Up from 1--2Bn for ground to air missles
3) Up from 3 --5Bn for some good tanks from Russia
4) new-1Bn for RPG's (rocket propelled gernades)
5) 1 Very stealth bomber equipped with--well ya know!
6) Wine, women and song and lots of it
Fuck you Europe Milestones
OT - It looks like A.G. Holder finally found a safe target to go after. John Edwards, whatever. Could he be any more irrelevant?
They'll let Goldman lie to Congress, but not baseball players. It's ok to steal our money in plain sight, but don't mess with our bread and circus.
the squid is the law.
He's hot on the case of the BCS - look out Tostitos!
funniest avatar and screen name EVER! almost spit out my diet pepsi laughing at that one.
You're not the only one with an appreciation for the Seinfeld reference.
Why not just kill them all, and repopulate the country with less useless humans?
There are only 10 million of the lazy bastards. That would only be half a Stalin in mass death terms.
What incentive to work and progress if you lose your democracy and national assets to bankers and the EU. That is why the EU will fail because our pride and national heritage is being taken away bit by bit.
Sell it to the morons. These whiny, lazy bastards lived beyond their means, and now want to protest when the bill comes due.
Pay the bill you ran up.
Maybe so but they are thinking about their grandchildren. And their sovereign homeland. Don't let the bankers and the EU elite take your country.
Why weren't they thinking when the sold their grandchildren and homeland to the bankers and EU elite?
Yeah, it's a mystery ain't it? Same goes for USSR, China, Germany 1936~45, Ireland, UK, etc.
Throw the U.S. in there too.
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