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BBC Does It Again: "In The Absence Of A Credible Plan We Will Have A Global Financial Meltdown In Two To Three Weeks" - IMF Advisor
A week after the BBC exploded Alessio Rastani to the stage, it has just done it all over again. In an interview with IMF advisor Robert Shapiro, the bailout expert has pretty much said what, once again, is on everyone's mind: "If they can not address [the financial crisis] in a credible way I believe within perhaps 2 to 3 weeks we will have a meltdown in sovereign debt which will produce a meltdown across the European banking system. We are not just talking about a relatively small Belgian bank, we are talking about the largest banks in the world, the largest banks in Germany, the largest banks in France, that will spread to the United Kingdom, it will spread everywhere because the global financial system is so interconnected. All those banks are counterparties to every significant bank in the United States, and in Britain, and in Japan, and around the world. This would be a crisis that would be in my view more serrious than the crisis in 2008.... What we don't know the state of credit default swaps held by banks against sovereign debt and against European banks, nor do we know the state of CDS held by British banks, nor are we certain of how certain the exposure of British banks is to the Ireland sovereign debt problems."
But no, Morgan Stanley does, or so they swear an unlimited number of times each day. And they say not to worry about anything because, you see, it is not like they have any upside in telling anyone the truth. Which is why for everyone hung up on the latest rumor of a plan about a plan about a plan spread by a newspaper whose very viability is tied in with that of the banks that pay for its advertising revenue, we have one thing to ask: "show us the actual plan please." Because it is easy to say "recapitalize" this, and "bad bank" that. In practice, it is next to impossible. So yes, ladies and gentlemen, enjoy this brief relief rally driven by the fact that China is offline for the week and that the persistent source of overnight selling on Chinese "hard/crash landing" concerns has been gone simply due to an extended national holiday. Well, that holiday is coming to an end.
By the way, Reuters, Shapiro is not a Yes Man -we'll spare you the ruminations.
h/t Scrataliano
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Not to be confused with the High Yellow Holidays, or Octaroon October.
In reverence to Totus, they'll call it half-black Monday.
"Black Monday, Dublin, 1209 – when a group of 500 recently arrived settlers from Bristol were massacred by warriors of the Gaelic O'Byrne clan."
My family STILL has a reputation as trouble-makers.
Does anyone remember this:
Must have been around the same time in 2007. Pelosi, Boehner a bunch of other goatfuckers...it was on a weekend, they all appear together to appeal for I think 787B, maybe they said 800--it was the first shot fired, I remember thinking 'man this is just like Hitler would do it'. It was the first act in this play we've been in (worldwide) ever since.
I remember watching that clip over and over trying to figure out how 24hours earlier these same people were towing the company line about house equity being a fountain of eternal wealth.
In Canada--where I am--not many people remember that Flaherty and Harper first came out saying that Canada would skirt the US recession. A month later the story was that we would feel it a little bit, then it was 'we're in a serious recession'. Canadians have also forgotten that the BoC opened up the CDN taxpayers money for use by the US. That's the thing with Canadians--I used to be a proud one, talking shit about how stupid Americans are...now when I look around my own country, the societal disillusionment, the facade that is Canada--we're the stupid ones, the line ups for the kool aid are always ten deep and full of red flag waving idiots and their olympic mittens.
Funny thing: Flaherty just this week said again that in case of a double dip, Canada would not be materially affected.
I'm sure it's different this time.
80% of Canada's exports go to US.
It is a global trend, not just US.
Isn't it funny how all the governments had conservative political leaders, and all of them bought into record housing bubble, and all of them have budget issues, all of them have banks blowing up then bailed out?
There is no escape for the middle class. All governments are owned by globalist bankers.
Speaking of Canada, can someone explain me what is the purpose of the USD swap line between the Fed and BOC?
Canadian banks needs USD?
What will BOC do with these USD?
Obligation.
And to be honest, I'm bullish on the USD, so good for us.
the fact of the matter is that in probably a couple of years the USA will be a net oil exporter. We already no longer import ANY lng for general domestic consumption (but we do import directly from Canada--which is also changing.) corn prices have collapsed. Europe is now collapsing. England is Quantitatively easing. Japan will take decades to recover from Fukushima as its equity market heads for a low equal to what happened in 2008. (Hard to imagine the Nikkei peaked at almost 40,000!) So the greenback rallies as "hopes for a double dip fade." still these general strikes are a real wild card--wages have collapsed in the USA and if the Administration doesn't stop their soup-nazi bullshit they could end up with a revolution and a real hanging party in DC. We'll see just how huge these EndWallStreet protests actually get. Obviously it's a huge deal.
oh i remember that well.......i saw real fear in their eyes as Hank took over.......they all looked white, it actually got me nervous
I thought for a moment there would be a rush into mining stocks but now I see that is not gonna happen for a while. Too bad, I had some winners lined up. FYI, it takes about 2-3 weeks to get your money out of a brokerage account, into a bank account and forwarded to Apmex........then you wait and hope for a delivery.
I dont get mining stocks at all as a metals play. Sounds similar to deciding to buying stock in lawn mower companies if youre interested in beef.
Oh maybe because you can dig it up for $5.......remember?
The trap with buying cheap miners is that if we really get protracted global depression there's going to be a vast oversupply of almost everything ... demand and prices are not going to recover in a debt-deflation unwind ... most miners will go belly up, get bought-up, fail again, then mothball or close permanently.
... secular bear in mineral commodities results, with a depression in mining sector investment, development and maintainence - everything goes on the shelf.
I don't think many people foresee that outcome, but it can happen ... and the mining sector certainly knows it.
... including fiat currency.
Bank on it (so to speak).
The 1 year copper chart looks just like the 1yr CAT chart.
That would be during the best of times ! With all these layers of derivatves.....people's money is so removed from converting to physical.....imagine the exponential panic dynamics ? 1929 was so simple ! This "Black Monday" is going to be awesome ! Monedas 2011 Waiting for the meltdown with ghoulish delight !
too much bearishness lately not good for the bears..and all this endless drama reminds me of the debt ceiling debate..this is all a set up
You remember what happened right after the big debt ceiling drama when everyone was certain we'd blast off far higher from DOW 12,700 right?
It's not a setup, they've lost it.
How long ago was this guy an advisor? (Or is it adviser, or inhalator - must check my official ODummer Gaffs dictionary on that)
In 2 or 3 weeks the powers that be can create half a dozen marevlous plans, all designed to drive the markets higher and kick the can farther down the road. Such talk is utter BS.
suny
Why didn't he just come out and say "bail out the banks OR ELSE!".......they need to pull Hank out of retirement for a sequel.
Mr Bernanke says things dont look good. Now Mr IMF says the same. Perhaps they are getting us sheep ready for a drop in the markets?
Yep things dont look too good, downright nightmarish in fact, so in the meantime lets stage some more 3% stock market rallies.
but.. but.. Timah said everything was OK today!?
NO CHANCE OF DOWNGRADE
That wasn't a downgrade. It was a tap, a nudge, a fillip, a means to get somebody's attention and soon's they's got's it again, it'll be UpGraded even though it weren't DownGraded in the first place. We got it all under control. Just send more money next April 15, peasant.
And anyone who disagrees gets corn-holed.
Yep, TPTB make $ on volatility. Lately, that seems to be the only way they can. Their source of fees on lending, IPOing, debit cards and other stuff are sagging.
They can't QE (with the hope of helping entire economy) until the market drops a lot further. They want it to drop hard and fast and soon before Obama starts campaigning. Look for S&P to break 1000 by next week.
How did you overhear that mtg between Barak, Lloyd and Jamie?
"before Obama starts campaigning"? WTF has he been doing for the last month but campaigning?
correction: WTF he been doing these last 2 years?
When the God of money Ben Bernanke pays sympathy to OccupyWallSt on public TV, you know shit is really bad and going to get worse.
http://www.youtube.com/watch?v=eVXEYoo46ZY
bout damn time..............
Good. Let the banksters experience financial meltdowns like the ones they caused for us common people.
Ronald Reagan: (chuckling) "There you go again."
Mr.Shapiro was the only one who even knew what the hell they were talking about. Ditch those idiots Shapiro.
I told my sister, Dollie, not to have her chimney blocked up. She could've kept herself warm burning check books.
A friend of mine met with Bernanke (and others) the other day and after the meeting, Ben told him not to invest in US assets for the next five years. I wonder what happens after 5 years?
Rapture......just ask 'em.
Pray tell, how would one "address [the financial crisis] in a credible way?"
default
And a return to sound money
massage the bump on my prostate while I watch Amanda Drury with the volume off?
So here in the US how much time do we have between "global financial meltdown" and martial law? Two days, a week, two weeks? It would be nice to know so I can be at my cabin in the woods, have my popcorn popped and a frig full of cold ones, so I can sit back and enjoy the show.
Yep, well thats going to be pretty much a personal call. I think the setup with the Wall St protests is a sign it goes down pretty soon.
When the grocery stores start running out of eggs, milk, and TP... then its time to leave. So be ready.
Oh I'm ready I just need to drive 130 miles to get to my cabin. My concern is that I go to bed one night and all is good and wake up the next morning with Jugears on the tv telling everyone that martial law is in effect and that roadblocks have been setup for our own protection.
Week tops. I think someone here reported the statistics on how many days food supply is in the average grocery store, add some hoarding, and bingo a week is about right - probably less. But we can emerge on the other side of this. The real economy will still be there, and it can be up and functioning quickly. The "losses" are all on paper, and that paper is held by the banksters.
I predict no win for those who have loaded up on PMS. I think fiat will be enforced, perhaps to the point of confiscation of gold. You can't have two forms of money in a martial law state, now can you?
Grocery stores carry 3 days worth.
Ned,
3 Days stores, 3 weeks wharehouses on most foodstuffs.
Panic hits, all stores empty in 8hrs flat, whses, 2-3 days max.
No confiscation, maybe an order for nationalization, no one will comply.
No need to even try it. Never find 90% of folks stashes.
I say NO WIN for those stupid enough to not have loaded up the cupboards, and shelves, and canned goods under beds.( and if it got THAT Bad, trust me the Jack Boots will be ddor to door seizing anything of use, for the collective.)
IF they were financially able.
And Water,lots of it. Suggest 30-50 cases of 16oz bottled min, or preferably 55 gal poly drums..................4-6 sealed and chlorinated.
You have no water, your dead 4 days max.
Most homes have 40-50 gals in H2o tanks,and in resevoirs behind toilets.
ALL POTABLE,(unless you have a chlorine tab/sani flush, etc hanging in the tanks.
YOU hoard, in order to help others,kids,relatives,neighbors...............
Indeed --- 50 millions dogs can't be wrong.
In side by side comparison tests, dogs prefer toilet water over steam distilled ! Monedas 2001 Even bloodhounds !
YOU hoard, in order to help others,kids,relatives,neighbors
Exactly, What we need to do!
my stash is buried.
they'd have to hold me a gunpoint to get it.
then again incarceration doesn't sound that great either... and it would be tough as shit to get it out of the states if TPTB tried it.
Thanks to European bank stress tests...
"What we don't know is the state of credit default swaps held by banks against sovereign debt and against European banks, nor do we know the state of CDS held by British banks, nor are we certain of how certain the exposure of British banks is to the Ireland sovereign debt problems."
Nothing to see here.
Really.
Nothing.
the bernank fixed this like fifteen minutes ago.
http://www.facebook.com/pages/Investment-%D0%98%D0%BD%D0%B2%D0%B5%D1%81%...!/pages/Investment-%D0%98%D0%BD%D0%B2%D0%B5%D1%81%D1%82%D0%B8%D1%86%D0%B8%D0%B8-%D0%B8-%D1%81%D0%B1%D0%B5%D1%80%D0%B5%D0%B6%D0%B5%D0%BD%D0%B8%D1%8F/165791686841419?sk=wall
So, I should cash everything out?
Sincerely,
Rookie Fukwad
No, stay long TBT, TMV and PM. It is really going to happen. EU will never agree on a plan.
the market is suggesting this is leading up to qe euro n+1 weekend. hurrah!
Stay thirsty my friends! Hardest part of making the big money is staying with the trade. 3 weeks is a long way to make a pile of money to the long side before setting up for the down!
Trade Well!
Z
what the IMF is basically saying is that TPTB in Eu will not put their money where their mouth is, when push comes to shove in market panic mode....anytime now it will be the acid test to Eu political will; to bite the market bullet. Que sera sera.
I am laughing at this phony rally, and so should you. This is headed for a fall. The banks are dancing on the edge of an enormous razor blade. This will not end well, no matter what anyone says. Lies are not enough to hold it together. The real economy will survive by the way, it's the bankster economy that will perish. They like to threaten us with wholesale annhiliation, when it is they who will suffer the most in the clearing of accounts. This is all about the bad debt, and its derivatives leveraged and multiplied ad infinitum, via the enormous pile of CDSs they have all written to each other.
It is 100% q1 2012-2014. I undertook little exercise to create:
Prediction chart of US debt max, default time, haircut,inflation
Its explained in more detail here:
http://saposjoint.net/Forum/viewtopic.php?f=14&t=2626&p=34423#p34423
All in all, US debt will reach 21 TRILLION USD in early 2016 at default. Taking into account GDP 2011 = GDP 2010 (14,7 trillion USD) and 4% /year recession 2012-2015, the ratio DEBT/GDP may be close to 170-180%. In any case, >150%. That is a bit higher than the ratio Greece had in 2010 ( 140%) which prompted bailout from EU and IMF to avoid immediate default. No one is able to bailout the USA in 2016.
Haircut will be between 50-75% in 2017-2018, so inflation roughly 25% a year. In 2016-2018, not earlier. This corresponds to USDX long term prediction chart (2012-2018) made here:
http://saposjoint.net/Forum/viewtopic.php?f=14&t=2626&st=0&sk=t&sd=a&sta...
and as related to it, but made earlier and independently, long term ( 2012-2018) EUR/USD rate prediction chart made here:
http://saposjoint.net/Forum/viewtopic.php?f=14&t=2626&st=0&sk=t&sd=a&sta...
so everything fits wiht deflationary recession in the USA q1 2012-end of 2014.
AND inflation in EUR zone with recession at the same period. Starting NOW, but surely in 2012.
Very bold.
How does Europe "recapitalize" banks? What would be the mechanism? And how does Europe manage to 'shore up' Italy and Spain when the voters there will react as strongly to budget balancing as did the Greeks?
It sounded to me like the most optimistic assessment on the program is "we can succeed in pushing this out a couple of years." That's a pretty limited goal.
in two weeks this will happen I predict:
a) a market panic will happen as demonstrated here by ducks (mass panic begins at 10 sec mark) http://www.youtube.com/watch?v=ndtDZ-DQE1M
b) NYPD will unleash Commander Duddley aka Great White Shirt on protesters : http://www.youtube.com/watch?v=cc-9nlCwa_Q
both events will end badly... duke
The Prince of Wales: "Extraordinary."
The Duchess of Cornwall: "Dreadful."
The Prince of Wales: "Dreadfully extraordinary."
The Duchess of Cornwall: "Extraordinarily dreadful."
The Prince of Wales: "Indeed."
The Duchess of Cornwall: "Quite."
Mary queen of scots : Where is my head?
Elizabeth of England : Ask Sir francis. The last time it was sighted it was on the Golden Hind on its way to Peru.
Sir Francis : Well we thought we were doing our country a service.And teaching good ole football to the natives.
I'm glad I removed my marbles from the bank two years ago... Let the madness begin!
Ed Rooney : Les jeux sont faites. Translation: The game is up. Your ass is mine!
Not one of those motherfuckers said where the money to recapitalize the banks of Europe would come from...you one guess, bend fucking over!
those who have arthirtis don't know how to bend over. Go try the Zimbabwians.
Although the Dexia collapse is real enough, the BBC piece looks like a shakedown by the IMF for massive QE in Europe to push German/ French opinion to QE side, and to keep US money center banks out of the CDS shitstorm as long as possible.
Just a guess, because the interesting aspect is that none of us knows what will happen next, as tail risks are not identifiable or quantifiable.
BBC peddling Armageddon is definitely bullish.
I´m beginning to believe that the bull may actually reach the falling 50-day MA at about 1180. It would be a truly mammoth achievement, undoubtedly followed by a severe crash.
UK propaganda by that old man on the right...
"UK banks are well capitalized" - Yeah like RBS that shining great example of a solid balance sheet...
what's wrong with RBS?
It might have to be nationalized again.
The thing is, if the Europeans really are working on a plan, why aren't we hearing leaks about the bargaining? Such as: Germany is pushing for this, but France wants that, and Italy is resisting some other aspect.
Instead we have leaders making statements to the effect that "Well, maybe we do need to think about recapitalizing the banks." I would expect heated bargaining when they actually try to thrash out the details of a plan. But I don't see any indication of this going on now.
So I wonder how likely it is that they will actually have any sort of plan within two or three weeks. Do we really expect that all the European leaders will just get together the night before the G20 and agree on a massive bailout/recapitalization plan?
So this is a Rothschild advisor...?
Save the banks or else,,,???
He just says this so that he can drop the market and buy low tomorrow
this is getting to be like the 'boy who cried wolf too many times: when is this gonna happen? Since this guy says 2-3 weeks, it won't happen in 2-3 weeks. It'll happen 'out of the blue'....at a time when nobody's ready. How can a collapse happen if people are actually prepared for it? It will happen [and I fervently hope so soon]......but not like everybody expects. Everyone should have cash on hand for expenses...when this comes down, all the banks are gonna close [USA too]. You should be 'stocking up' on provisions as well; I would expect Martial Law to be declared [even though we've done nothing to deserve it]. But when it comes to the Ruling Financial Class need to survive, they'll do ANYTHING to remain in power....even shutting down the internet. Making sure people can't communicate is an important 'stopgap' measure for them....and they'll use it for sure.
"Hey Honey, your Bank Manager is on the phone"
" Tell him I've already got a wristwatch"
honey, i shrunk the savings
I got laughed at by all the shorters back in March 2009 'cus I said it was time to buy and I expect to be laughed at again...go right ahead, bought big time the other day during the lows, bargain prices. Things will get resolved and it's in the works now. Ask yourself: If GS needs another bailout, who's going to be around to bail them out if things get that bad again? Attacking sovereigns around the globe is not conducive to their survival so this tells me it won't happen.
P.S. When everyone is bearish it's time to buy!
You don't win a baseball game after the third inning, Michelle my dear.
Let's see how those beloved equities of yours hold up after another year ... or three ... or five. Somehow, I suspect your portfolio's value may not end up quite so "equitable".
buy a ticket to neptune. :- )
Ah yes, it's all clear to me now... the Beeb's sudden interest in real journalism/'telling it how it is'.
For many toiling away in the labrynthine warrens of Aunty's BushHouse/WhiteCity... the 'come to Jesus' moment arrived with their PinkSlips. If you're goin' down anyhow, what matter toeing the 'establishment'/party line?
[BBC] - BBC set to cut 2,000 jobs by 2017 / The BBC is planning to cut 2,000 jobs and radically change programming in order to cut 20% from its budget over the next five years.
http://www.bbc.co.uk/news/entertainment-arts-15165926
BBC is owned by the people of the UK, and they just might be crying out to the people to tell them what is going on. If the people in the UK demand the beeb starts telling it like it is, that is more likely to happen than anywhere else I can think of. The beeb isn't likely to have any loyalty to a temporary government that is trying to do them in. Kind of a unique situation.
The sun always shines on Wall Street and therefore you always see the same reaction to any major signs of a downturn
the market quickly establishes a trading range and big money milkes that to the hilt while it lasts.
Then the market finally collpases to the level designated by big money.
The stock market has collpased twice by 50% in the last decade and has grown increasingly unstable since. I think this volativity is growing and that we can expect increasingly wild swings in the next years. By 2013 50% drops in the stock market (accompionated by maniacal rallies) shoild be an annual event.
This is a dangerous time for TPTB one mis-step and their plans for the NWO could come crashing down around them.
Events have been bought to a head sooner than they would have liked, and the plans are not fully ready.
Cut them some slack guys...
Oligarchs are human too....
Mervin King more honest than normal:
http://news.sky.com/home/business/article/16084156
http://www.channel4.com/news/bank-of-england-boosts-qe-by-75bn
then again this guy may be on to something. october has a pretty dreaded history...
http://www.everydaypaper.com/?everydaypapers-view/markets-in-october.html
then again this guy may be on to something. october has a pretty dreaded history...
http://www.everydaypaper.com/?everydaypapers-view/markets-in-october.html
WHOEVER READS MY POST / PLZ ADVISE ! I'm the learner here . Honest question . My daughter & I plan on being in Europe, Germany, Italy, etc. for a month, right during this melt-down . PLZ ADVISE ! Will traveling Americans be affected ? Might this be the dream come true of USD:EU parity ? or, will it be a disaster .......... i don't know & everyone on this website is so smart. thank you !!
As an American, I wouldn't want to be anywhere else but at home, with food, weapons, and not a single fucking cent in the bank. Everyone will only too willing to play the blame game, which means anyone convenient to blame becomes collateral damage. Go next year, if Europe still exists as a civilization.
I have not been on here very long and I don't know nearly as much as some here but I would be willing to bet nothing will happen in 2-3 weeks. Someone somewhere will find a way to drag it out longer.
That said, even if they can, I wouldn't go there right now. People are very unhappy there right now and I don't think you would have much fun in that kind of environment.
Think about this, if the population of the country your in gets really pissed off and decides to walk out on their jobs for a few days, what are you going to do if that's a travel day?
Personally, I would be less worried about Germany and more worried about Italy. Even in good times, Italian railway and public transportation workers are prone to strikes. I would suggest renting a car, except that driving in Italy (especially the south) is not for the faint hearted. Don't know what to do about the strike problem except to keep your travel plans flexible.
You might want to consider keeping a good supply of cash euros, just in case there is a bank run. But remember that pickpockets are active in Italy and are also something of a problem in other countries like France. Also, the charges for converting from dollars to euros and back again can be high unless you know where to do it. So I sometimes carry gold coins as emergency money. They can be converted to cash almost anywhere. And if there is no emergency, you just keep them and pay nothing. But again: Watch out for pockpockets and luggage thieves. I keep my gold on my person in a special pouch while traveling and leave it in the room safe when sightseeing.
What room are you staying in again?
Banks are gonna burn and I don't care, banks are gonna burn and I don't care, banks are gonna burrrnnn and I don't caaarrrre, 'cause we'll all be in the street in our underwear! Broke, that is, big brother style. Y'all go to yer FEMA camps, hear? There's where your 99 percent will be. Bullish on copper and lead.
what about corn?
End the fed.
Print new money.
America will be back to greatness in less than 12 months.
BLACK MONDAY -- Wall St. & the U.S. Government know when it's coming. This is no surprise to them ; in fact, they have orchestrated it. So, what else is new ? get rid of these people .
Credible Crisis Plan Is Here:http://www.thestreet.com/story/11270819/1/cramer-a-real-european-crisis-...|TWR
That means this V bottom is confirmed! Only up from here
http://www.youtube.com/watch?v=pjcbQdteWkU&feature=related
ten keys to prosperity...........you gots to believe...............
So subprime was NOT contained?
IT'S THE FINAL COUNTDOWN DUH DUH DUH DUH DUH DUH DUH DUH DUH
Seems to me that the Global Financial Meltdown IS the answer to the global financial crisis....
We have to get back to a 'real' market, 'real' money somehow.
I'm sick of all this prolonged strife, it seems like it's about time for that time in history when the entire world order changes significantly (like the emergence of the 'conflict' between Western 'capitalism' (read Corporatist Socialism) and Marxist or Maoist communism). What comes next in the natural progression? Do we just hit the reset button on credit ALA fight club? How about instead of "from each according to their abilities to each according to their needs" we try "from each according to their abilities to each according to their wants"?
I suppose it's just another cyclical happening though, right? I mean, we haven't learned from history as recently as the monetary and economic policies that helped Hitler rise to power, as our answer still seems to be to print money willy-nilly (gotta drop the Hitler example in their, right?). Or the economic and imperialistic policies that led to the fall of Rome (devaluation of currency, inability to maintain such a huge land mass). Granted, one would think technology improvements might solve some of the problems Rome faced... except that we've expanded beyond the point that technology can make up for our inability to maintain our empire, whichever empire we mean. The World Banking Empire will probably just morph once again, and once again be behind the powers that emerge, just like they've been doing since (at the very least) the 1400's.
People will continue to see Government as the only savior, and give up on their own ability to solve problems for themselves. Continue to have faith that if they just do what they were taught by the Department of Indoctrination (read 'Education') and believe what Chicago and Harvard Business tell them, it'll all work out for them before they die in poverty, or in come sort of civil war somewhere (cause they're happening all the time, right? I mean, that's big business, there's gotta be Civil War for the Sons of Guns to sell arms to private security companies).
End Ramble
More at http://printbuttonmoney.blogspot.com
Complete "meltdown" or just a little more warming...Global Warming?
Promises, promises. Lack of a credible plan - 100% certainty. Meltdown - 100% certain that there will be some pull-it-out-of-their-ass trickery or continued rumor whiffs to keep prices at eternally inflated levels. We do need a market-clearing event. I am doubting it will ever come before an asteroid.
Great fucking write up. Love this shit. I really want to see these fuckers go up in flames, just once.
patience grasshopper......you will get your wish
This is a public service announcemenet from the BBC.
The CDS problem is ten times worse than previously thought!
using banker math. 61T x 10 = ???
When they are broadcasting from the cellar of Buckingham palace they will have a "Told you so" clip to fall back on, when the peasants set up the guillotine in the parade ground.
All this talk of "concerted action" and "it is within the wit of man" (yet somehow it wasn't within our wit to avoid the problem)..."We just need political will..." I.e. a strong man needs to just make something happen, screw the rule of law. They're begging for it to happen.
There are things that we know we know etc. Shit, I thought we had finally got rid of Rummie?
The financial theatre of the inane is getting mighty crowded with these megaphone Establishment drama queens. Insolvent? Then fail already, dammit. By what right should the rest of us have to accept any bank's or government's losses? The NWO sharks who would have us do so live off of humanity's sores (which is why they'll never go hungry).
we are starting to see that horrible condition that occurs when people steeped in freedom head down the path toward serfdom. Serfdom to freedom is infinitely more pleasing. imho. :- )
Short squeeze visualized
http://2.bp.blogspot.com/-ZLsFqHy16fw/To4IjVeMIGI/AAAAAAAAAes/cXeFuVrvXr0/s1600/eeeeeeee.PNG
Good article. May be why that Barbaric metal, you know, the one you can't eat keeps going higher.
OK the the UK banks are OK are you sure!
http://www.ft.com/cms/s/0/5af4075c-f048-11e0-96d2-00144feab49a.html#axzz...
Glad to see a few more people telling the truth on television. But I am sure Obama and Ben will be right there with our money to back up all of the EU.
What happened to the frigging Eurobond?
Goldbugs and doomsayers. Bob Chapman´s most recent newsletter and other doomy and good stuff is up.
http://thepiratebay.org/user/Djofullinn/
would you believe an INcredible plan?
Tomorrow on CNBC Neel Kashkari, (the X-Goldman Sachs employee), who with Hank Paulson engineered the 700 Billion dollar no questions asked Bailout of Goldman Sachs, AIG, JPM, Lehman, BearStearns, BAC, Morgan Stanley, and all the other banks, foreigns included has news for America.
Watch the Weasel tell Americans they must not have Social Security and Medicare, while at the same time tell Amercans that Europe needs a bazooka bailout that will be funded by: Guess Who ? America.
This guy, Neel Kashkari belongs in Jail with Lloyd Blankfein. Because what he did was pay Lloyd Blankfien's 100 million dollar bonus with that same bailout. Loyalty has no shame. This is why Goldman Sach rules the world. They get away with it.
New essential benefits released today by unnamed experts for your benefit under ODipShitCare. Enjoy. MSLSD may cover it in a year or two.
We are so screwed with this Kenyan and his ilk.
Most of you are so clueless.
First: control the money - Marx
Second: get GW to post crap about the morons of "Occupy Wall Street" - Cloward&Piven
Third: destroy everything.
No guilllotines listed anywhere.
Get a clue while you can!
was a chump on tuesday & thinking that the Italy downgrade was worth a little downside. Shame, shame on me for thinking that political news means anything.
But i traded some good Robespierre jokes, like From Lawyer to Guillotine .
what does this even mean????!!!? please explain :)
impossible, preposterous, and balderdash, BiCheZ!!!
Does anyone know what this is all about? Were these people really drinking champagne on a balcony and mocking the OWS marchers?
http://www.youtube.com/watch?feature=player_embedded&v=2PiXDTK_CBY
They're having a Marie Antoinette moment ! It's probably part of the theatre to get Obama re-elected (choreographed by Michael Moore) ! The Socialists who made the mess now want to be the populist heroes in charge of fixing the mess they created ! It's like a dog carrying his own pooper scooper kit ! It's like Dodd/Frank fixing the sub-prime mess ! Bulldoze them all into the Hudson ! Fire up all that snow removal equipment and "remove" them ! Monedas 2011 Let them drink Champagne !
as a dog returns to his vomit..............
What's with the guy at 1:16 with the keffiyeh?
As of 10/6 8PM this video has only 311 views! If the general population is that uninterested in what is really happening we all deserve to go down.
The Count - Youtube vids that get hit quickly their counter stops around 300
Check it in 2-3 days for a more exact no.
Danger ahead, leaked Volker (ZH?) rule hit the net, relating to prop trading. Tight. Here comes the chaos, any fool buying long or thinking that the butnuts of the world can keep markets bid with words...is going to be decimated.
Let it burn, let's get it over with...
ECB launched an unlimited loan facility to European banks. WS rallies. Bye bye crisis/collapse/meltdown/Armageddon. Boring world we live in.
With oil bid, the Germans will shut down that ECB meddling within a mth re: sovereign bailout bonds will never see the light of day.
three days of a meltup and it's a sugar coated fantasy land again. No, the end is very near.
The BoE and ECB just signed the death sentence of the EU ala stagflation write off.
Stagflation appears to be the solution, the markets say. They'd rather see the taxpayers bleed than they themselves.
ECB has been printing since last yr. It was a rhetoric melt-up, the market is panic buying to sell into next week. If the ECB were for real they would have cut, they didn't. It's a mad grab (stocks). There is NO way the Germans are going allow an extra tax + oil inflation going into winter. IF oil was $40, yeah maybe a cut, BoE is trying to play off their governments austerity measures. Point is, an expected rally was due, we got one, is it the start of a bull market?...no way. China is still the elephant .
You wanna hedge? Hedge on social/political mayhem (EZ) + China meltdown.
boring world YOU live in.
thx
Same as yours.
Ah, but no two persons realities are the same.
Guys, I'd like to buy about $10,000 in silver + gold. I am worried about government confiscation. Earlier, during the debt debate, we heard they wanted to mint a 1 trillion dollar coin. What is to stop them from confiscating all our precious metals, raising the price (i.e. allowing silver to reach its real price), and minting a coin to pay down debt? Are my worries founded?
The reason I want these metals is to sleep better at night. However, I feel they'd just spring a new worry, and that is confiscation. If they do confiscate, will the price be driven down beforehand?
Use cash and no names.
"I don't have gold, officer."
Use cash and no names.
"I don't have gold, officer."
...i did that, and wound up realizing that should i ever need to sell said metal, i'd be paying capital gains tax on the full spot price... not what i paid for it...