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Germany is Already Printing Money… Deutsche Marks!!!
So… by now everyone realizes that the Euro is in major trouble and will no longer exist in its current form for much longer. However, the common view is that it is Greece and possibly other PIIGS countries who will be forced out if the Eurozone is broken up.
But few are talking about another possibility… GERMANY leaving the EU.
One who is talking about this is Dr Pippa Malmgren, a former economic advisor to George W. Bush and a former advisor to Deutsche Bank. According to Malmgren, Germany has already ordered the printing of Deutsche Marks in anticipation of a possible withdrawal from the EU.
Malmgren states, “the social contract between Germany's citizens and its leaders preclude [debt monetization] given their history.” She adds that, “Germany has already begun to emphasize the need for a new EU Treaty that would compel fiscal harmonization, penalties for those that break the Maastricht Treaty rules and other undertakings that would harden Europe's defenses against economic default risks going forward.”
If this is true, and Malmgren is correct, then the Euro will absolutely IMPLODE. Germany is widely held to be the strongest balance sheet in the EU (though even the Head of its Central Bank admits that the country’s real Debt to GDP is over 200%).
However, compared to the PIIGS, Germany is relatively rock solid from a fiscal point of view. It’s also the largest economy in the EU. So if the Germany pulls out (70% of Germans believe the Euro has no future) then Europe will experience a wave of defaults starting with Greece and spreading throughout the PIIGS.
We’re already seeing hints of this occurring. Germany Vice Chancellor, Philip Roesler said on September 11 that Germany won’t participate in any more bailouts and that any German politicians who approve more bailouts is committing political suicide.
We also have reports of Sarkozy and Merkel screaming at each other in recent meetings. France has announced plans to possibly nationalize several banks just “in case.” And Germany has dropped more than a few hints that it’s fed up with the situation.
Heck, even Alan Greenspan says the Euro is “doomed” to fail.
Folks, something VERY bad is brewing behind the scenes. The Sarkozy- Merkel talks, the short-selling bans, the halted stocks, the leveraged EFSF, the hints of QE 3, all of this is telling us that the financial system is on DEFCON 1 Red Alert.
Ignore stocks, they’re ALWAYS the last to “get it.” The credit markets are jamming up just like they did in 2008. The banking system is flashing all the same signals as well.
So if you have not already taken steps to prepare for systemic failure, you NEED to do so NOW. We're literally at most a few months, and very likely just a few weeks from Europe's banks imploding.
What happened in 2008 was literally just the warm up. The REAL DEAL is coming in the next 14 months. And it’s going to involve corporate, financial, and sovereign defaults.
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I love how people act like secrecy is impossible when even the most half-assed reading of history shows the EXACT opposite to be true. Secrecy is alive and well, if it isn't then why do we have State Secrets laws and intelligence agencies? Give me a fucking break. Amazing how dumb some rubes are.
Indeed. Whenever some 'sophisticate' dismisses a 'conspiracy theory', I remind them of how many military invasions - involving literally tens of thousands of men - come as a complete surprise to their enemies.
I don't buy this, Merkel said 'We can't let the Euro fail' and for 1nce I believe a politician, than 80% of the German Parliament voted for EFSF so it's pretty much all in from German politicians, they don't care what the social/economical/political consequences they will stop at nothing to protect the Banks period
"it's pretty much all in from German politicians"
The next election very likely will be "All Out" from German voters.
The EU is a zombie currency.
Just like the next election in the US. OWS is all the young Dems that got out the vote for Obama four years ago, and now they realize he lied every step of the way. 43% +- of citizens support them (CBS-NYT poll). The poll also said the Tea Party has 28% support. (Of course, a conservative poll would put Tea Party support much higher).
That's 71% of the US population that doesn't like either Wall Street or the Fed Govt.
Using violent police force to break up the demonstrations, let the winter weather send them home, it doesn't matter. The match is lit, and they'll all be voting next spring. And they all know now - don't believe what politicians say, believe what they do - and it's looking pretty grim for the PTB. Both groups will either vote third party, or no incumbents.
The big bet is whether or not the US has an election next year. I expect an ETF on this shortly.
ah, that voting thing again !!! good luck with that.
the way i see it people are allowed to vote for a PR person, not for owners. let me explain, if government was a company you would be alowed to vote for the head of the PR department - not the owners of the company.
so when you vote for president you get to pick the PR person - they read from the telepromter and the sheeple think that their vote counts, while in fact it makes no difference what so ever who reads from the teleprompter - the owners remain the same, we have been ruled by the same people for the last 40 years, and by their parents and grandparents before them.
everything that really matters in this country is decided by the ownres and communicated by the elected PR officials. you can vote PR officials out of office every 6 months if you want - its not going to change a damn thing.
The thing about a facade is that it doesn't last forever. It always weathers, and is eventually exposed. It sounds cliche to say that this election is different, but it is - you're going to see candidates this year that sound like they've spent hours and hours on ZH. People are incredibly insecure now, even if they don't understand why. They know that the BS they've heard for years is a lie, and they're ready to understand WTF happened to their country. Think about it - in any system with fairly free expression that's also corrupt, one would expect it to be widely exposed, at some point. We're getting there.
if you know anyhing about history you will agree with me that the only way to replace the owners, go beyond the facade, fix the structure is via well armed, well organised revolution. everything else is mental masturbation and wishfull thinking.
The German citizenry is fed up. They do not want to keep shoveling money into Greece. I read something where a guy talked about game theory and the best option was to let Greece fail at the start.
Here it is. It's a very interesting concept, and it helps make things very clear. His equilibrium/no winner/ scenario is earily reminicint of the current situation and he drew this up FOUR MONTHS AGO.
http://wiredandready.net/2011/06/18/gametheory/
It was also Wolfgang Schaeuble, the German Finance Ministers public position at the time and yet here they are still throwing money at Greece. So much for the citizenry revolting.
Wait, is that a Hummingbird?
Imagine, using fear to sell a news letter.
Why not - they're running the country with it - fear that is.
In what year do you reckon that started their Uncle Remus?
Reckon what started?
The goverment running things with fear as you said in your post. That is what I was responding to and the question I was asking.
Again, In what year do you believe the government began a policy of rule through fear?
Well, I never said anything about a policy, but a pretty clear change occurred after 9/11 but it goes back to at least FDR.
I think it started when Able elected Cain to go out and find some girls.
This story has been out for close to a month now.
This article appeared on Commodity Online on the 4th of October
"Germany may in fact be preparing to abandon the Euro"
http://www.pippamalmgren.com/79.html
Same date mkt turned around...?? Hmmm...
There are most always elements truth in promotion, but to me, this seems beyond the fringe.
I would consider subscribing if Germany ever prints a DMark.
Until then, my only comment will be "DoucheMark".
so.. after reading this I guess we have to subscribe?
"You're papers are not in order" is the new Deutsch-speak for "we don't accept Euros" or literally, "you're money is no good here".
I know better than to click on anything which says Phoenix. Shame on me.
No! That's not true!
What more perfect place for me to pimp my own blog?
I cover much of the stuff that we here at Zero Hedge are interested in, and if Graham can pimp his stuff, so can I! Anyone interested in my blog, please send me a gmail at my name (as I publish under my real name) and please reassure me that you will behave.
DCRB: But, You Sir, are a pimp of a higher class. Ever elegant, usually understated, leaving that flash into the kimono with just the right angle and for just the right time. ;-)
- Ned
{you do know that Google keeps all copies of all g-mailz? Big OpSec breach in the future.}
yea when hell freezes over
Print Deutsche Marks?
Because the Krauts are always prepared...
I can say Kraut... My Granny is German and she is always prepared...
Yes for sure the krauts are prepared.
Thats why they never destroyed the money in the firstplace. Its still anywhere hidden in one of the underground vaults Germany is famous for. Most probably a former salt mine sealed and guarded and everybody thinks its an atomoc waste dump. Maybe, Who knows.
This reminds me to something. A while ago I asked myself, can this be, that the Brits were so stupid to sell a huge part of their gold reserve just at a time when the price was close to the bottom.
I came to the conclusion, that they can not be so stupid. We are stupid to believe such a shit. It was just propaganda to hold down the price of gold or even bring it further down.
The gold was never really sold in my opinion. The BOE has a paper saying that they can buy it back for the same price they sold if they want.
But the money was flowing so somebody expects interest on the purchase price at least. Not so very high because the purchaser had the gold as a security. So just a few %., Ha, Ha,
The counterpart most probably the rothschilds (they controlled the bullion market in England I think till the 1980) it would have been an excellent business. A real idiot safe money maker. If I were Rothschild at that time I would have suggested the following:
Rothschild buys in secret the gold from the Bank of England. But the BOE has in the future the option to call this gold back and is paying then only the same price we pay today officially. This will help to surpress the price of gold now, thus driving the investors out of gold into the fiat system. The capital needed to buy the gold costs you, say 4% interest p.a.. But you dont have to pay it now. Dont worry! Nobody will even find out that you have to pay interest on our loan. (ha,ha,ha. This is always a good trick from the loan sharks) The yearly interest I will take from the gold calculated at the actual gold price rate at each years end. Thus the amount of gold the BOE can call in the future is reduced a bit each year by the amount of the interest on the loan (or the purchase price which is identical with the loan).
Mr. politician that is a true win win situation. Do you agree. Are we in business?
So not a bad business for Rothschild. So ten years each year 4% plus the increase in the value of the gold the BOE had effectively to give away in the foregoing years.
If I were Rothschild, then for sure at the end of each year I would have done my best to bring the gold price down a bit so the the 4% interest buy more gold.
Its just a crazy idea from me but it would make a lot of sense. That is the way it could have happened when England sold its gold. At least its a good theme for a fiction book or a movie. How Mr. Soros and Rothschild robbed England twice, would be a good title to start with.
You may be on to something there Supermax, I heard that it was Gordon Brown that actually let the gold out, not sold it and how this would work I have no idea but apparently it comes back in future. Now, if true, why would someone want to rent several billion worth of real bars? Maybe to swap out a pile of gold coated Tungsten ones....just saying, some wierd shit going down in the markets these days, anything goes and everything makes me think hhhmmmmmm.
Du hast un RAYCISS ouslander!! Und mit granny vud zay der folken ist, "Effizient"
"Wir sind dann Helden
Für einen Tag"- Der Bingle
Maybe so.. doesn't mean it won't come to that.. Even if it is a far reaching dream for some..
that piece of info was just as baseless when we read it two weeks ago.
honestly, this was two week ago's news.
Just about every writer on this site says the Euro is doomed. The EU is like a business that is hemorrhaging cash - and there's little expectation that will change, and no reserves. If we can see this, the Germans can. More likely than exiting the Euro is that they'll get the fiscal union they want, and things will continue to deteriorate beneath the surface as faux austerity is lauded.
My thoughts exactly! It almost seems like a complete lift of the story we read here weeks ago. Shove that fear mongering up your ass where your newsletter probably comes from.
Do you have any proof that Germany is printing Deutsche Marks?
WOW NO GLOOM AND DOOM! That is a strictly hokus pokus story, Germany are happy to help, they still pay the! EAST wieder aufbau tax, for 20+ years, no complain.
ya, and we still pay the "Rural Electrification Tax" and similar (check detailed cell phone invoice). No clue. - Ned
Right, there is NONE.
Graham Summers, your offer does not get any better, the more fear you try to instill in your readers and the bigger your lies and sillyness gets. Do you actually read more than one language? You seem to have absolutely no clue...
Phoenix Capital sells their "Survive Armeggeddon in a Box" for $500, so I will start selling mine for $400. Its called buy gold, food and guns. Send all money to 24 Loserville, Battle Creek MI.
Almost every post of Graham Summers reeks of hyperinflation.
While not defending Graham the reality is Gold jumped for a reason. So duh. Like Big Ben it could just be money printing.
But the fact that Gold jumped means my favorite Asshole, Robert Prechter is wrong again.
Since he has down arrows on Gold.
I will say one thing. I was at a hockey game and I promise you this.
From hearing about how many people are leaving the markets because of their last statement, the market is overpriced.
This assumes they got rid of the old ones!
I call bullshit. Germany can't leave the union because if they did, the Deutchmark would rocket over the Euro so fast that no one could afford to buy their products. It would be disastrous for the Germans.
The answer is to allow Greece to leave teh union and go back to teh Drachma. It just makes more sense.
Thinking out loud: Not if they leave the Euro Zone and then peg to the Euro currency - They get out, eliminate the downside and keep the upside?!?!?!
I'm wondering in this multi-level poker/chess/russian roulette game how those rumors of the Fed having pallets of ... er ... Scrip and now of D-Marks in D-land.
It certainly is falling into the realm of "play ball my way or I'll shove this bat up your ass."
- Ned
Since the money printing started in 2005 for Bush & Co. and continues under Bambi & Co. did anybody care if the
cost of food would double and gas would triple. NNNNOOOOOOOOOOO
Bushit back at you. Do you think the Germans might have the balls like Italy did and we do not.
At least the Italians set their police cars on fire and had a real protest.
yes. There is a spring in your average Berliner's step...
This has been on the net for over a month now....so what else is new ?