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European Bailout Infographic: Presenting The Truckloads Of Cash Needed To Rescue The Insolvent PIIGS
...No, literally truckloads. Our friends at demonocracy.info have been kind enough to put together an infographic that explains the European bailout in simple, visual terms, that even the most innocent of FTL truckers can grasp without much exertion, for the simple reason that it shows all the bailouts amounts in terms of trucks of cash. And here is the kicker: one would need a 13 lane highway, filled with trucks bumper to bumper, stretching for about 3 kilometers to represent the €2.91 trillion in total amounts owed by the PIIGS and their citizens (whether voluntarily or not... actually make that involuntarily) to Europe's largest banks. What is most frightening is what is not shown: just how it is that the world's central banks are keeping all of these banks propped up. Because sooner or later all this money will be discovered to have been fatally misallocated. Then the real bailout cost will become all too evident, and just like in the US, it will be in the double digit trillions. Which means the metaphorical highway of trucks full of cash will stretch on for kilometers and kilometers and so on (or miles, for the naive US-based truckers). But since that day is in the future, there is no reason to worry about it.
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euro bank deposits will be confiscated.
No, that would be wrong.
Just diluted.
Germans & some other northern Europeans either have to pony up, absolutely destroying the purchasing power of their citizens (and legitimately risking political instability in Germany and elsewhere the likes of which we haven't seen since post WW1) to merely postpone what will be an inevitable EU structural collapse (not avoid one; it's not avoidable).
- or -
They're going to concede that the handwriting of the EU being an unsustainable failure is on the wall, and they're going to build a firewall, not to prevent PIIGS+UK+France contagian from spreading, but around their own borders, in an attempt to preserve their own living standards.
They're going to build a wall to keep PIIGSFUK out, even though all the cnBSc & Bloomturd Pundits, Peddlers and Purveyors of Government Propaganda all spread the party line that they can't afford to separate. Ha!
It's either-or. There's no middle ground.
Oh sure. They're going to talk and blather and yammer and spin for a while, just to delay the inevitable choice that has to be made.
Blah-Blah-Blah-Blah-Blah-Blah
They can't fix the EU. Math, bitchez.
the germans don’t have too.. the *American Middle Class will back stop it all.. some more / again / once more / and on and on you don’t stop!
* note: I should have said **America's Middle Class that is still working and paying taxes.. will back stop the eu's truck loads of cash.
** note: I should have said America's Middle Class that will be able to continue working after a ***Global Economic Slow Down due the Waves of Contagion circling the earth at almost light speed.
*** note: I should have said the World Economic Melt Down Hell on Earth Cluster Fuck of Greed being Spewed Out of the ANUS! of Europe ALL OVER THE ENTIRE WORLD! While God Cried and the Devil looks on laughing!
And I should have prefaced this beautiful butt nugget with the fact that American’s by and large are to fucking stupid to be able to figure any of this out and thusly we all will suffer.
It was GREAT! When we all were so much smarter and happy that everyone else was stupid.. My how that has come around to Bite the World in the ASS!
"American’s by and large are to fucking stupid"
Ironic that you would use that construct for "Americans, by and large, are too fucking stupid"!!
Where did they get all this money? Do you have any idea how much corn or wheat this buys, because it does buy corn and wheat, and gold? That's the equivalent of about 4 loaves in 1923 Reichmarks...
Don't sweat it...
JW, stop there; you are already out of people.
CONVOY...
"American’s by and large are to fucking stupid"
No shit, we have affirmative action to ensure the dullest among us make decisions.
And, "the Germans don't have too..."
Or is it that "the Germans don't have to?"
Still, many of us are pretty fucking stupid, along with the Europeans.
I will tell you what will happen, in terms of just one critical asset class, if The Bernank, in all his infinite wisdom, even remotely attempts to contribute in any meaningful way to a subsidy (as discreetly and sneakily he may try) that is large enough to significantly reduce the EU debt load.
Oil will soar so high that it will literally choke the remaining life out of the U.S. economy and those other nations (i.e. all developed and emerging ones, in varying degrees) who generate a meaningful % of their GDP/GNP from trade with the U.S.
I won't even get into other asset/commodity prices.
Oil at $147 a barrel put the choke hold on the economy last go-round, back in 2007, when the pain hadn't even set in yet and before massive pockets of wealth were vaporized.
Try oil at $147 a barrel now, let alone $175 or $200 and the mid to early 1930s will look like mild by comparison, as the price of lubricating the gears of global commerce becomes prohibitively expensive (and I'm not even delving into the reserve currency issues that would arise given that oil currently is purchased and sold in USD).
We can all stop and analyze the impact on oil prices, and what monetization of Euro Member sovereign debt will do to the price of oil, because that is significant enough on its own to guarantee a very adverse outcome.
Stop it man. Just stop it. Too much Truth and WAY too much sunshine. Please...stop.
@TIS
Your observation is spot on. I want to pose a few "what ifs" to what you say. First question, how long can TPTB hold oil at $100? We're running on 3 months, and I've been impressed by the effort so far. Second question, how long can oil continue to sell in USD? China and India are already swapping for local currency or straight up gold, and Russia will make a similar commitment soon (imho). These questions further beg the question whether or not currency wars are spilling into semi-hostile trade wars.
But consider that in 2007 only oil (and maybe some commodities) were overpriced. Now everything is, so the higher price of oil has been factored in. I'd say now up to $200 could be bearable.
No offense, but if you believe oil up to $200 is 'sustainable,' you've been hittin' the crack pipe with William Dudley.
Oil at $200 a barrel is going to translate to gasoline/diesel at around $6 to $7 a gallon in the U.S. (I'm not even sure how the hell high heating oil would go, let alone food or the other necessities that have to be transported), and Europe would be facing $18 to $20 USD per gallon gasoline/diesel (it's already over $8 USD per gallon in many parts of Europe).
Good luck with that epic grand delusion.
Anyone not planning for $50-a-gallon gasoline in the next couple of decades is asleep at the wheel. Besides which, Europe has been dealing with $6-7 per gallon for YEARS - even before peak oil. You Yanks just need to learn to live a little closer to work and restrict your gasoline use to 1-2 fill-ups a month. That's what we did to keep the cost of commuting down.
Peak oil has already happened, and the supply is now constrained by the ability to get it out of the ground, not the demand. We're on the other side of a bell curve, with supply rapidly decreasing - and global population still in a state of growth...
With a forecast as specific as $50 a gallon gas in the next couple of decade, who are you? Nostradamus?
C'mon, Oliver.
I almost would've thought about your response more before responding had you said "$50 in the next couple of years."
Almost.
I'm talking about $50 a gallon in terms of what $50 is worth today, not what $50 will be worth 10-20 years from now (if it still exists, that is.)
We are going to get our $50 a barrel because EVERYONE will be unemployed. Filling up the gas tank with no where to go will be too expensive.
OJ made some additional arguments and I'd only like to point out that NG would be okay for heating (the poor and green) and that in 2007 gold was much cheaper do either gold is relatively expensive or oil is still relatively cheap. I do agree that the US economy would suffer, but oil prices wouldn't fall because of that. High prices Of oil would persist despite that.
Incidentally, at the moment I am long some O&G explorers as I am hoping for more crazy (covert or overt) QA soon.
P.S. Adding that I am not a believer in Peak Oil Theory, but I'd give it a 40pc chance.
There is nothing theoretical about peak oil. It already happened in 2005. From that point on, we follow the Hubbert curve downward - with less oil available every year than there was the year before.
By definition, we will never, ever, run out of oil: It will simply become too energy-intensive to extract (i.e. net energy drops below 1:1), in that it will cost more energy to extract and refine the oil than we would ever get back by burning it. In that case, the rest will be abandoned.
It was inevitable, really - ever since 1964, more oil has been pumped out of the ground than discovered, and since you need to discover oil before you can pump it, the problem has been visible for decades.
Politicians, however, avoid dealing with unpopular predicaments by simply pretending that they don't exist. Nobody likes to be told that their way of life is on the way out, but that is what the bottom line amounts to.
By the way, natural gas isn't a solution for everything. Due to its high evaporation pressure, it's impractical for use in planes. Even for cars, it is a particular challenge - with propane being a lot more popular. But even propane would require very strong fuel tanks, which would probably be heavy enough to rip the wings off any plane design you care to mention. Or, you simply sacrifice range/cargo space by building tanks into the fuselage.
'07's $147 oil is today's $245 oil considering USD lost 40% of its value since '07.
Today's $100 oil is a 60% price drop since '07's high, much of it being from reduction of demand, some of it being new supplies (Canadian oil sands?).
I will disagree with you.
From a consumer/user perspective, as the economy has blown chunks, and real incomes/wages have fallen (BLS tortured data aside), and given that massive pockets of 'transitorily created bubble wealth' were vaporized beginning in 2008, today's $100 oil, relative to wages, incomes and the size of the economy (in real, and not nominal terms), is a price increase since (of what % I do not know) the highs of '07.
Higher oil prices were more easily dealt with back in the bubble years, as the 'wealth effect' of what was a massive, credit/debt induced bubble, where millions more paper-based princes/princesses were around, confidently buying whatever they wanted, as they just knew that their assets (especially real estate assets) would allow them to buy as much of whatever they wanted at whatever price, because they would all retire spectacularly wealthy.
At some point Germans should realize that it is less expensive to roll out some Leopards and run them towards Brussels than continue this bailout nonsense. Ah, sweet dreams.
Each bill has an intrinsic value of 12.44 BTU.
Doesn't matter. It's all electrons anyhow, and this amount of "money" will fit inside the cheapest capacitor you can get at Radio Shack. No big deal. I can't wait for the ultimate discharge of the capacitor! Waiting for that black swan short circuit. Biding my time. You?
Assuming $3.90/gallon for fuel oil, at 115,000 BTU/gallon, that puts the intrinsic value at $0.00042 (or less, compairing NG)
Well, with good old American spirit, we're up to the task on this side of the pond.
So what are the handles of the Obama crew?
http://www.youtube.com/watch?v=HWO_AIh8drk
Gee, maybe we need to hear the handles of the Reagan, Bush I, Clinton and Bush II as well, since they had just as much to do as Obama with the giant pile of debt doo-doo the USA has excreted.
10 hail marys for you!
and 100 thou shall not take ronnie the fucking scumbag securitizing king's name in vain!
Ronald Reagan cut Military benefits.. my uncle, who was shot in the fucking head with an ak-47 was not milking the system, FACT!
Ronnie started this snow ball of securitized debt rolling, FACT!
and everyone since Kennedy.. (and maybe even a lil bit Kennedy) has belonged to the Lobby Dollars Syndicate / Lucky Sperm Club of Blue Bloods.
Maybe we should, but all of the presidents prior to this present usurper-in-chief, in aggregate, have not done as much damage as this one.
Under our CB all have been equal-opportunity offenders. Each serves a purpose and keeps a portion of the population believing in the myth of the adversarial parties.
10-4, but that shouldn't stop anybody from unloading on the those on the drivers seat now.
You need to go back to Wilson if you want to be fair.
Uhn-uh, Lincoln.
You need to hang Wilson if you want to be fair. There, fixed it for ya.
Lincoln had his greenbacks, but bullion coins were common, and free silver exchange was in place. He was railroaded by the National Bank Act. He had the right idea for a sovereign currency not controlled by bankers.
Wilson was indeed the villian.. he cursed us with the income tax (16th Amendment), the Federal Reserve Act and he took power away from the states with the 17th Amendment by making a Senate seat a beauty contest subject to influence and manipulation rather than an appointment by state legislators with commensurate obligations to the states.
I like the visual aspect of this. It is impressive and I wish the American public could see it...much less the Europeans.
The American version has over FIVE TIMES AS MANY TRUCKLOADS of money. We have a current debt of over $16trillion and still growing by leaps and bounds.
We are screwed. The current leader in the Republican presidential race is a total establishment status quo guy. He will just run the leviathan state better than the amateur now, but nothing essential will go away. No one is going to ask the State to balance the books or do less. Therefore the problem will grow till it hits the tipping point and it all breaks. I think we are not far from that now.
It's the International Debt Highway System bitchez!
Thanks for the token BITCHEZ comment. Nauseating
Shit, and i thought it was to come in a helicopter drops
Not enough room in the sky.
It can be fixed, we just need a leader who will build bigger highways and solve this traffic jam problem. The US and Europe each had theirs when it was necessary in the past :-)
It's a good thing it is all digital euros; that way they can save on petrol.
Very savy!
now that's a convoy...
Mercy sakes alive!
http://www.youtube.com/watch?v=HWO_AIh8drk
EASTBOUND & DOWN BITCHEZ!
http://www.youtube.com/watch?v=_HpmlIDIXPs&feature=related
(there's 'beer' in Texarkana)...
Thelma and Louise going ALL THE WAY!!!
http://www.youtube.com/watch?v=4z88U915uq8
http://www.youtube.com/watch?v=j3VN54M1OXA&feature=related
I have to admit it. When the market rallied into the close, I just couldn't help but add to my SPXU position.
no unemployment for truck stop hookers
great title for a movie
Europe better hope for a massive revaluation of gold worldwide, it is their only hope.
2012
2012 2012 2012 2012 2012
http://bible.cc/revelation/12-9.htm
2012 The Year Of The Golden Dragon 2012
AND THE
Lounge Lizard
http://www.youtube.com/watch?v=lwsiExLSd1E&feature=BFa&list=AVGxdCwVVULXdrdW4GdF3I5EH35jBlQu6h&lf=list_related
OF THE
Great Wal Mart of China
http://www.youtube.com/watch?v=8_fOaAXvxTE&feature=related
That number by the Lounge Lizards sounds a bit like a jazz take-off on St. James Infirmary....
She was laid out on a long white table, so sweet, so cold so bare......Now why does the EU come to mind?
It is a tree, it is a tree!
no.1 the larch...
Wait! Von Rumpy said the problem was contained to Greece.
What's drop-dead hilarious, is the banner ad's I'm getting are all from CR Engliand (a trucking company)!
Go GoogleAdwords-BigBrother...err... I mean, Love those pertinent advertisement selections.
Wow... I don't get any adds....
Am I missing something?
(LOL)
I don't get any adds either. I'm also not getting any subtracts...
Just keep truckin'
Reminds one of the plane loads of hundred dollar bills stacked on pallets flown into Iraq. Shortly thereafter the insurgency cooled down and the sunnis accepted the occupation. Why fight, when a few tens of billions of dollars put into the right hands can buy peace!
But then the PIIGS are a much bigger proposition. Trillions of Euros needed just to keep them all from defaulting and the European banks imploding in one giant implosion.
Tell me, why were banks buying these bonds by the billions when everyone knew the countries were already insolvent? Or is that why bankers get the big bonuses, for being just so damned smart!
It's crazy really, banks buy worthless debt that the governments need to fund government because the economies can't generate the needed taxes, then the banks are insolvent so the same taxpayers are called on to bail out the insolvent banks. Everybody is friggen insolvent but they just go in circles to prevent the losses being realized.
Yeah... Let's see the convoy of trucks (for USA banks)... That are counterparty to all that debt...
Freight lines....good time to buy. Mayeb railroad cars full of Euros?
Printing there was and printing there will be.
Good article.
http://www.voxeu.org/index.php?q=node/4413
The big question?
Will this lead to war?
Your mother's hairy cornhole.
During the next elections, I'm expecting a short man with a funny hat and beard.
Lack of money leads to extremism.
Nobody is going to pay any of it back anyhow so why does it matter? Seems to be a big plus on the side of recovery. The unsustainable situation gathers opposition against the perpetrators such that a leader or group shall be coincidentally set to perform a thorough return to law and order when the opportune time arrives.
okay, so now the size of the problem is known, it's just a matter of getting the paper and ink and firing up the printing press....oh, and getting all the lorries lined up.
boom, done, problem solved.
so what's taking them so friggin' long? Is it getting that many lorrie drivers?
The graphic failed to show the current state of the "bailout" fund. A clown car filled with IOUs...
Faster Than Ligjht. It's science fiction it will be paid off anyway.
let's face it. we all know the fed will print as much as it takes to save the large euro banks. those digits will end up over there one way or another and you can be sure "the people" won't be consulted, why would that happen?
the best quote of the day, (from a poem) ===> "if our dollars were honest, they would say in pleasure we trust." that came from this video:
http://www.youtube.com/watch?v=I4OK9DmLpCY#t=1m18s
which i found after watching this video that got 17 million views in 3 weeks and it's about jesus. seems like something's going on. the video is called; why i hate religion, but love jesus. interesting.
http://www.youtube.com/watch?v=1IAhDGYlpqY
There's a very simple fix to this problem: the 1 Trillion Euro Bill. With that, all of those trucks can be replaced with three little bills, light enough for even the daintiest Greek Granny to carry, with even a smidge of extra wiggle space to spare!
That wouldn't simulate employment, but you are right.
I was wondering how they could use the E500 bill which is preferred by criminals that CBs are
Can the Bernank print that?
Excellent post!
That's one [hell] of a graphic presentation.
We should bail them out in rolls of fucking pennies.
Do we have that much zinc in the world?
Baltic Dry would go to 100,000+
copper pennies to valuable. just use zincs LOL
http://www.pennybullion.com/
buy a box just for spite. The US Treasury hates these guys who are sucking the pre-1982 pennies out of circulation.
I've got a five gallon Sparklets bottle full of pennies.
I don't want to wrap them. Easier to throw them on the back of a semi.
Breaker One-Nine, this heres the Rubber Duck!
"Was the dark of the moon, on the sixth of June, in a Kenworth hauling pennies." ;-)
Grandpa warren is drooling over the opportunity to deliver all that cash via rail..........
These days... Grandpa Warren drools just about over anything...
With his diet consisting primarily of Coke and Dairy Queen it might just be a stroke...
I had Becky Quick in mind, but that'll do in a pinch...
Why stop? The PIIGS can just keep feeding off the rest of the European countries. Like Perpetual blackmail.
When you have a sugar daddy just keep asking for more.
WOW, what happens if one of them trucks stalled on the way to the bank?
Highway robbery!
Is there some kind of European 401 K that they can confiscate?
Simple answer... YES
Looks like we got us a convoy...
American Ingenuity will fix this!
Let me go get Thomas..He can pull this.
A statesman once said "Africa begins at the Pyrennees." Seems like the French banks took that seriously, and treated the southern periphery like it was just another African colony to be looted. Three of the four southern peripherals could break France and Germany in a week, if they had the nuts. If they don't have the nuts, the south might as well be slaves. Politicians will spend their constituents into slavery is the message. I'm actually glad the largest single holder of tradable Treasuries is now the Fed. That simplifies the future.
No, the banks didn't try to "loot" the Southern Tier. They joined in the excesses with everyone - investors, consumers, businesses, sovereign states. There is no dark global conspiracy. Such talk reminds me of those insisting that religious leaders are evil and know they're lying when they honestly believe what they preach. Central bankers sincerely believe that society would be better (more orderly a la Merkel) if they, the "experts", ran things. The fact that their policies are absymal failures doesn't phase them. They believe they can allocate better than the market, an anti-capitalist view.
When societies push home ownership for those unable to afford it, lenders jump in. If central banks artifically lower interest rates, unsafe loans are made. If lawmakers threaten because minorities are not being given their "fair share" then by God banks will shovel them out the window. If they can borrow money for nothing and make interest by doing nothing then they will.
I'm not a novice nor am I an expert .... the time is coming. A simple 3x etf short against everything to protect your wealth and to profit from this full tilt retard melt down is in order. Thanks Tylers :o) as John Travolta once said in Pulp Fiction - ain't it cool. end game coming
A simple 3x etf short against everything to protect your wealth and to profit from this full tilt retard melt down is in order
The house is waiting for your FIAT to be bet on that number too... TRUST ME...
He's got a point though -- the only thing better than 1 worthless dollar ... is 3 of them.
can't argue with that logic...
I drove for Arrow Trucking out of Tulsa. When they bellied up they just told everyone to park it, lock it, and go home. Maybe some truckloads of cash will be sitting at reat areas.
Shoulda just hauled it out to some desert location... Took a blowtorch to it... & made a homestead out of it...
Makes those pallets of cash that "disappeared" in Iraq look meaningless.
Hmmmm.........just how many trucks would it take to carry the US debt. I'm betting Interstate 35 is going to need to get a whole lot wider.
Think of all the fucking trees that have to be cut down.
(Reuters) - House Republicans will propose legislation on Tuesday calling for $260 billion in spending on transportation infrastructure for up to five years, an election-year proposal touted as a job creator in a tough economy.
lol.
lol...if true, time to cull the herd some more.
It is Reuters afterall.
Oh it's true: never underestimate the ability of politicians to scream they're against something and then scream that they're for the very same thing if the wind changes direction. And then try to say it was their idea all along.
GOP for big fiscal stimulus? Ready or not, here it comes
Don't forget the Big Sis TSA news out of Davos
http://www.bbc.co.uk/news/16735175
[snip]
The US has unveiled a strategy at the Davos World Economic Forum to protect the global supply chain in the event of a terror attack or natural disaster.
Secretary of Homeland Security Janet Napolitano announced the policy, signed by President Barack Obama.
The US has set aside six months to identify specific potential contingency plans.
The supply chain includes provision of food, medicines, fuel or any goods that underpin the American way of life.
The strategy would plan for worst case scenarios, enabling the government and industries to respond quickly to disasters that could disrupt access to vital commodities.
FEMA-friendly I'm sure...looks like the Body Scanners will be on the move....
or any goods that underpin the American way of life.
Big screen T.V.'s, Big Macs, gas guzzling SUV's, Liposuction, Food Stamps, Excuses, ipods, XL sweat pants............
Hey! NOT! Everyone in America is a XL!!
I am a XXL, Thank You Very Much!
Davos wasn't boring for everybody.
The local constables had a fine job.... or some kinda job.
http://www.washingtonpost.com/world/europe/topless-protesters-detained-a...
And clear evidence here that these chicks needed arresting:
http://cryptome.org/info/femen/femen-protest.htm
I still cannot fathom why people in Ohio should be paying for New Yorks failure to allocate money to upgrade it's own infrastructure. This penalizes those states who were responsible for paid for their own infrastructure and rewards those states that did not.
People won't know what hit them until it's too late.
The horrifying reality of the situation isn't "real" until you put it into physical terms.
i think the most amazing thing , is physically how small a million dollars really is......
It doesn't look so impressive when you see it like that.
Well compared to the 2 billion yeah... measure it against that measly 10,000...
The extraordinary power afforded to the Fed to completely ignore the citizens of the United States in creating and executing policies is courtesy of the apparently widely held but monstrously erroneous view the central banks need to be insulated from political control (i.e., other than control by elites) or "bad things will happen." I am so glad the elites are looking out for my interests.
Yep.
There are always little boys who make a mess of the sandbox.
While we were distracted by our false wealth, those little boys got bigger and older, and attained positions of power and influence.
I'd do a video or something, but it'd be really short.
The deceptively efficient truck the ECB uses to transport freshly printed currency....
http://www.hankstruckpictures.com/pix/trucks/len_rogers/2005/oct07/fiat-...
I'm getting tired of all these debt infographics. They're boring, and just don't spark my imagination anymore.
Hey, I just thought of something...
Did you know there's approximately 3 Trillion pores on the human body?
Let someone publish an infographic with gross derivatives outstanding represented as Victoria Secret models!
'Dismal science'?.....Not anymore.
In an average lifetime you will have taken around 670 million breaths. Feel free to file this under 'who gives a shit' if you like.
The problem is - the reality of the situation- is not seen as a reality. You know - being ignorant has its advantages - you can watch movies or sporting events and not believe that the world is predicated on a belief in a lie.
Yesterday a greek deal was all but done for the 999th time. Today it isn't even front page news. Lets say we make money riding the up on the market. Exactly what will we buy? What really has value in a corrupt system?
Lets say we bet the house on the corrupt system going down. What then do we buy when it does?
Kind of hard getting excited about owning the biggest house and the best guns on a block that's been devasted by economic collapse. By the way, whatever form of government left will eventually take that by legislation.
Not really interested in partying with the criminal elite - nor am I looking forward to the kicks to what used to be the middle class in America.
"Yeah, breaker one-nine, this here's the Rubber Duck,
you got a copy on me Pigpen? C'mon.
Ah yeah, ten-four Pigpen, for sure, for sure.
By golly it's clean clear to Flagtown. C'mon.
Yeah, that's a big ten-four there Pigpen. Yeah, we definitely got the
front door good buddy. Mercy sakes alive, looks like we got us a convoy"
Breaker one nine, I haz to haul zeez euros to Rome, Barcelona & Athens, but scheisse!, diesel just went from €2.38 to €7.24 per liter in the blink of zee eye!
In any other time, the State (the People) would simply say; 'Sorry that did not work out.' The Banks would take a haircut, maybe not get pay in a could of years maybe just be seized by the government and shut down.
This time around, its all about saving the banks with these crazy insane numbers.
It was the bank's so called due diligence that allowed/accepted these ballooning no-risk debts knowing full well what the future held.
I would be curious to know how the Nazi's dealt with small businesses and banks that were somehow "inconvenient" to the State.
Because these international actors like the World Bank, IMF, Basel Committee and the ECB are going to liquidate sovereignty in order to pay these (and more) debt.
Pretty novel.
Greece is the proving ground.
The dominoes will fall all the way back to Anytown, USA.
Wow, that's a nice image ! In other words, Europe is doomed.
Buy Silver and Gold in New Zealand with MyGold
Cheers :)
It ain't over till the fat lady sings.
"When some wild-eyed, eight-foot-tall maniac grabs your neck, taps the back of your favorite head up against the barroom wall, and he looks you crooked in the eye and he asks you if ya paid your dues, you just stare that big sucker right back in the eye, and you remember what ol' Jack Burton always says at a time like that: "Have ya paid your dues, Jack?" "Yessir, the check is in the mail."
Bullish highways and flat beds.
Because they're thirsty. Dummy.
A €1 trillion ESM will hopefully cover it til 2013.
The ECB will print and the U.S. and the rest of the world will follow. Europe will die if the rest of the world doesn't dilute there curency.
ooops, the author leaked the great motto of our leadership.
The European leaders have proven one thing, apart from their insanity. They like to waste time, this Brussels bullsh*t fest is another prime example. Now whilst these loons talk about nothing and give out very confusing market cues (Portugal's yields just blew out) the ECB have become a rogue CB bank controlled by a crazy Italian. Able to sleight of hand with their LTRO and direct and convert bond buying, they seem to have missed Portugal. Funny that. Proves the banks are NOT buying PIIGS debt, just the crazies at the ECB.
A deck of cards, with Germany running out of aces.
Money on Greece opts for a messy default. Loans? Their books are so f*cked up, no one is going to get paid back! Either Germany forced them out with constant government audits (form of occupation), or the Greeks leave.
What a bunch of gutless, weak a-holes Europe has become.
*Regional equities tack on modest gains on encouraging comments from the Greek prime minister on ongoing debt talks
Wow that makes sense?!
That makes me bullish!
Today i will buy 3X and hold! The stocks are cheap!
BUY BUY BUY !!!
Fuck Tomorrow
3 sessions worth of bulltraps, with half assed meltups. Brave
I was just kidding ...
My Ninja Saber is honed! Ready for slaughter
.
long overdue for the slaughter house
too long.
Trust Basel, he can solve the EURO crises.
Basel was a translator in the US Army in Iraq, he boasts that he delivered 40bn in Cash for the Iraqi Central Bank (Where the Iraqi's themself have not seen any of that money) in covert operations (loading teh money with cab drivers, in garbage trucks, etc to avoid insurgents)
He now claims that he will go and dilver another wads of cash to the Libyans ...
The latest rumor Basel is going to solve the Euro Debt Crises by delivering physical worthless paper to the greeks...
Vote for Basel 2012
We need to get Goldman to introduce the abbreviation FUKING PIGS
France, UK, Italy, Portugal, Ireland, Greece and Spain.
I need an N and G for this to work. Recommendations?
Europe has €500 bills, so the convoy would be only one fifth of the displayed length... advantage Europe vs. USA!
Youre right. However, these bills are slightly larger than the 100 € bills. It might be a quarter of the displayed length.
Btw, I realized that most shops do not refuse to accept these 500 € bills anymore. As prices increased I freuqently pay using these bills at gasoline stations and superstores. They might think about printing 1000 € bills in the near future.
Back in the day, you could get funny looks for using the 100s and 200s...now no more.
truck loads,bitchez
Alot of chatter about this tonight.
It is plausible, as Greece is now at a faceoff...something has to give.
I do however think neither one of these guys drilled down enough to the enormity of what they were discussing...the end of CDS!!!
check it
http://www.youtube.com/watch?v=9802NwSSS6U&feature=player_embedded#!
even defaulted banks in germany, have billions of misplaced euro's lying around, just waiting to be found.