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Which US chemical companies make components for explosives/black powder?
+ wondering if they export these to the rest of the world?
more of these mind game declarations "120% by 2020"... if things go to hell and worse by 2020, ppl won't even care some douche said it'd be cut to there by 2020.
I always feared there was an us, and a them; but believed in the general goodness of people and I hoped there wasn't. We have now had at least a decade of mainstream, overt greed. At least (in the past) embarrassment kept it in check.
If the people can't be bothered revolting, and the media refuses to be the people's champion, perhaps the only solution is for voters in each country, state, region to start thinking of secession. There is no way a captive mainstream media will promote any free-spirited anti-demagogue.
If various US states, Bavaria, Saarland, Guangzhou, Shandong, Scotland or wherever, started to self-determine and take control of their finances, currencies, laws and social needs, then perhaps there is a chance to avoid a 10-year global depression. Competition is the only hope for growth. It gives you energy and application, gives you a benchmark to compare your true performance, reduces unneccesary government red tape, and encourages innovation. It also strangles worldwide corporate monopoly.
Everything else currently on the table just shuffles debt around and stimulates theft by the banking and corporate class. They are taking your pensions, your savings, your wages, your freedom. And much worse, they are doing it to your unborn children.
This is an asymmetric war, small is beautiful.
The debt is a fraud, period. All the "paper wealth" is not real. Look around you, see the folks who work for you or bring real value to your life, compensation needs to return to these people. The only people who should fear a collapse of the entire system are paper pushing fucknuts. Sorry, but I say let it burn.
"The big message that Europe is sending to investors is that when individual nations get into debt trouble they will be allowed to default and investors will be forced to take huge haircuts."
"Allowed to default?" What the hell does that even mean? If a borrower can't or won't pay, that's a default. "Allowed" or not. In real life, anyone is allowed to default and face the consequences--except those with student loans.
The point should be for any investors in bonds: Don't buy them. Why bother? The European system will end up monetizing their own debts by printing money out of thin air just as the U.S. does. Let the system buy all their own bonds. That's what banks are for. To take up ALL and ANY slack in the system.
Fact: We are ruled by financial oligarchs. That's all there is to understand. If you play with them by any perceived rules of the game you will lose. There are no rules except 'they win.' Everything else is just smoke and mirrors. Side show events to provide the false fodder of 'choices' to the masses. You will never outguess them because they know exactly what cards are going to be played and all of their cards are trump cards.
So shut up citizen. Take your seat. Get back to work.
...Faith in European debt is going to rapidly disappear and the euro is likely to fall like a rock in the months ahead.....
Is this bad for Germany and Euro based markets? Isn't this what EU zone needs to restart the growth pump. I thought the whole FED USD devaluation strategy is to avoid the dollar from appreciating vis à vis Euro, Yen and Yuan. $ Appreciation kills WS and the whole debt devaluation by monetary inflation strategy.
We are in conflicting convulsions on both sides of the pond: Euro appreciation protects the banks but kills economic growth. USD appreciation kills WS, debt depreciation but protects reserve currency status. Its a lose-lose all round. And its unsustainable.
To me the real news is the capitulation of the ISDA in ruling this is not a CDS event. Derivates Markets = ~poof~
This will destroy a lot of people.
Rilly. How can ISDA unilaterally declare that the winning bets don't count this time? If you have fire insurance and your house burns down, can the insurance company declare that since the chimney is still standing, the event wasn't really a fire?
In a related story, the Texas Rangers have announced that the World Series this year will be the best five out of nine.
Well you know what they say. War is an alternative form of negociation. No casino stays in business if they don't pay out their winners. And let's be honest, that is essential what we are talking about here, bets on bets.
How the fuck am I supposed to read that? Is it supposed to look like a shitty myspace page? If so it needs some shitty Evanescence playing whenever the page loads. Then I might take the time to squint through the white text on a busy image background.
I guess you didn't stay long enough on that awesome website. down on the right there is a link for music that opens a new tab to megatune.com, so you can listen to Evanescence while "reading" the content on the website. Highlighting all of the text makes it hurt the eyes a little less.
You put the "coon" in tycoon, baby.
The banks will surely not accept a 50% haircut on a voluntary basis
Didn't you get the memo? Euro Banks are the new charity, willing to help out anyway they can, even if it means losing money. They're helping do god's work.
This sick game must stop but it's true, they have underminded the European if not the Western banking system.
Oh those poor private holders of greek debt!!! Are you shitting me!!??
Yeh I agree about the CDS's but they should be losing everything, the CDS's should be payin out but the debt should be wiped out, no bailed out!
Leave it to the Greeks to launch grassroots efforts on avoiding the new taxes and disrupting primary revenue streams. This haircut was a joke. If austerity doesn't push them into immediate default, surely elections will produce officials who will.
Civil disobedience in Greece grows over austerity
About the only option I can think of now is for the ECB to coordinate a massive operation to add say $E30,000 of inflation directly into every single adult's bank account and simultaneously increase interest rates to discourage new debt.
Basically, the debt has to be cleared. One way or another it will be. The banks have to be bailed out (in their minds).
By giving every single person a massive wad of cash, they will by and large pay down their debts. This money will flow directly into the banks as the originators of the loans. Thier tier 1 capital will increase, effectively deleveraging them. The interest rates will discourage imprudent borrowing, and will, along with the influx also improve the lives of the savers.
Lower debt servicing will free up some of the productive sections of the economy, and yes, prices for imports will rise as the euro adjusts down, but internally, the saving regions will be rewarded with relatively higher standards of living, and many prices should stabilise after a short sugar high.
They're not going to do this, of course. The favoured method of inflation is to bail the banks directly.
One way or another, the deleveraging will continue. At least this method will allow the debts to be cleared 'legitimately' - at least on paper.
Even if they did that, I'd put my 30,000 in commodities, probably an agricultural fund plus I'd buy the dip in bullion
So I should hold off telling my mortgage bank that I'm cutting my house principal in half but it's not a default? I was hoping to offset the loss in wage purchasing power over the rest of my mortgage. That what I get for living within my means, a nice kick in the n@ds.
Wait until you see the 2012 bonuse schedules for lying, cheating and stealing!
It reminds this poster of a Russian doll, only it's one endless crock of financial shit inside another, inside another...
Wake me when justice crucifies these fags.
Perth mint makes a 1 ton coin.
The US Mint was going to do that, but Fort Knox didn't have a ton of gold.
Greece should leave the EU and revert to the drachma.....announcing it will give 1 drachma in exchange for 1 eruo......
Creditors can still collect their debts but they would get drachmas instead of euros.
Euro bank accounts in Greece would be swapped out euros for drachmas....
I henceforth announce my new handle to be 'Dipbuyer'
the way they kick the can along the road so well... its fun just waiting for the time they cant kick it any fuhrer, i mean further...
All these guys are doing is a high-stakes version of musical chairs. Right now, the bondholders are "it". But they'll next threaten to sue the CDS issuers, so next they'll be "it". Watch out for falling dominos.
If you agree with me that collapse is becoming unavoidable, don't despair, prepare! http://www.collapsenet.com/262.html
What would pull the curtain back on these wizards in a way someone had to change it?
Transparency, like any curtain removal occurs when you tear it down.
Shun lawless banks, their dirty paper, and most important the zombies in pinstripes that claim to run them.
The people who were too stupid to see this for what it actually was (a Greek default) deserve whatever comes to them. I feel no pity.
Geeze, what a snarky statement. There are a lot of people who are just trying to save for retirement, know nothing about this financial mumbo-jumbo, and you are going to 'feel no pity' for them when the 'system' destroys their lives?
With that kind of karma I pray I don't live within 500 miles of ya. That's gunna be one hell of a lightning bolt. :+P
The millions you refer to should have stood up for justice when they had the chance.
Since you sound like a boomer, A good place to start would have been when JFK was shot and the forces of darkness took over money and the us political crime machine became entrenched.
It's been shit ever since due to pervasive abortions like vietnam, Iraq, and the warr on terror, etc. Broken fiat money is a symptom of something much more systemic and corrupt -- no justice.
All the proof you need is the present- you make and they take, with the fags all calling it gods work.
I feel mightily for this guy about to retire, I’m not all that far behind him. But as a teenager back in the Carter and Reagan days we looked at debt charts and talked about how in 30 or 40 years there wouldn’t be anything left. I was hearing how Social Security would be toast by the time I need it since the 70’s. And that cartel of privately owned international banking interests, aka the Federal Reserve has been counterfeiting for decades and everybody was shaking in their boots afraid to stop it.
And where were the 18 year-old kids from 1968 who were protesting for a better world? By 1984 they were the 34 year-old Yuppies. What really is a Yuppie anyway than just a hippie who discovered the ponzi. They discovered how to use the ponzi to stuff their own pockets.
Now they’re 61 year-olds wondering why it’s all collapsing. Well, they were right there on the scene supposedly going to change the world in the 60’s. They then proceeded over the coming decades to ride one Federal-Reserve-generated bubble after another to stuff their own pockets.
And now they wonder how it’s all gone to shit in an unrecoverable way.
Easy to judge others, what have you done?
If it wasn't for millions dillegently working and saving in cash, thinking there was no alternative to bail out banks, thinking the sate will always provide, voting etc etc we wouldn't be in this mess. The karma will involve them losing eveything.
It is amazing just how dumb the herd is. Anyone who understands this stuff knew at the time of announcement what a crock of shit this plan is.
not true. this is the only site truly discussing this issue (as with Fukushima et al) but the analysis has been far too convoluted since it's all so conspriatorial. As i've said repeatedly the essence of this crisis is credit flows far outpaced trade flows in Europe--now trade flows have long since maxed out and Europe can't turn off the credit spigot. I believe the credit event to occur which will be the biggest credit event ever recorded will happen to such a degree as to boggle the mind. It is now obvious Wall Street was the only place on earth that could actually handle the execution of a credit default "weapon of financial mass destruction" swap. this is JUST ONE. IT DAMN NEAR DESTROYED THE ENTIRETY OF NEW YORK and left the USA with trillion dollar deficits for "as far as the eye could see." What's going to happen in Europe...in my opinion perhaps as soon as THIS WEEKEND...will make the Lehman event look like a blip on the radar screen. In short "this has been government business since day one" and only now is Wall Street waking up to this fact. Since there is nothing Wall Street nor anyone else on the planet can do about it "this Apocalypse Now moment is brought to you by Orville Redenbachers Sweet Buttery Popcorn. Orvilles: Sweet, buttery...and ohhhh so good." THIS WILL BE TELEVISED because the "EVENT" is already a done deal and all we need discuss here now is "what is being discussed literally at the highest levels of the Defense Department and going directly to the White House and the President." Namely: "here's how the United States is going to respond." If what i've been chewing over for two years now comes to pass it will involve a "Manhatten Project" for running the entirety of Europe. More interesting if this is true (and like i said this event could happen as soon as this weekend as interest rates explode higher throughout Spain and Italy and lead to an immediate collapse of France's financial system) it will be fascinating to see who get's "the prize": New York or DC. My money is on DC. Again...should this "mother of all credit events" come to pass. It is possible (however remote) that I am wrong. (In my opinion it's only about the timing and not the fact that this massive "mother of all credit events" happens.) Obviously stay out of Europe, stay out of commodities, start buying treasuries, it'll be fascinating to see what the dollar does...and what equity markets do as well. If the answer is "a whole lot of nothing" while The Event goes down...that too would be just extraordinary. Either way my view is that everyone of you are about to witness history on a scale not seen or felt since World War II.
Interesting points. Now don't be afraid to press Enter once in a while to seperate your paragraphs. Empty space is not always wasted space, and it makes large posts easier to read.
At the risk of agreeing with our resident communist, yeah, pretty much.
The map is misleading as the Danes, the Swedes, and the Brits kept their own currencies, and are less exposed to this horse shit.
Also the Czechs.
and the poles, the romanians, hungarians etc...I think eastern europe might be the place to flee to once it all blows up in the west; far more politically stable with a populace that seems to know the score...
How young do you like 'em?
nice read,... ilene
my diagnosis is rather simple - we are in an interim [volitile?] phase shift [2008 market aftershocks from the u.s. ],... that if geometrically graphed [pre 2008] was normally a sine wave, would/ will, now be a cosine wave about to collide with a parabolic secant event, which will rip' & tear the bond market spreads into a period of hyperbolic frenzy
it will most probably culminate in every known sovereign walling themselves into a foxhole
The US will follow suit and anyone foolish enough to own dollars and US debt will be wiped off the map.
And the worst would be? Bitchez!
"bailout" is the new label meaning social redistribution. carl marx would be delighted.
We don't say "bailout" anymore - ahem - "institutional recapitalization"
And I hope your "short" link is accurate - cuz i went short large near the close today
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