Frau Merkel Summarizes The Situation
Thank you Angie for confirming what we all knew: that absent the help of the 950% debt-to-GDP levered UK, the European experiement is over.
- MERKEL SAYS 'WE NEED GREAT BRITAIN IN THE EUROPEAN UNION' - BLOOMBERG
Well, uh, fingers crossed and good luck with that.
And some other headlines from the Frau:
- MERKEL SAYS GREECE IN 'VERY COMPLICATED SITUATION'
- MERKEL SAYS GREECE NEEDS FULL DISCLOSURE OF ECONOMIC SITUATION
- MERKEL SAYS GREECE EURO EXIT WOULD HAVE 'INCALCULABLE' IMPACT
- MERKEL SAYS JOINT DEBT ONLY PAPERS OVER COMPETITIVENESS GAPS
And more such talking points, but this one is best:
- MERKEL SAYS SHE WILL HAVE NO PART IN FORCING GREECE OUT OF THE EURO - RTRS
Yup, she will leave that decision to the Greek 100% beggar-to-citizen population. Oh, and fiscal feudalism 101... it's back:
- MERKEL SAYS EUROPEAN NATIONS WILL NEED TO CEDE MORE POWER TO EU.
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Nigel should have a field day with this one...
UKIP = Freedom!
Yeah, just ask Nigel Farage! xD
http://www.youtube.com/europarl
Stay (relatively) free England! Stay out of the snakepit that is the Eurozone!
Everything's good in the hood (not even 2007-2008, 1999 or 1932 even remotely compared to this Matrix):
Dow approaches 13000, and maybe a record to come
Fox News - 34 minutes ago Now the Dow is within reach of the rarefied 13000 mark — a level it hasn't seen since May 2008, four months before the financial system almost came apart.Ponzi by definition -- need more investors to keep it going!
"GREECE IN 'VERY COMPLICATED SITUATION'
GREECE NEEDS FULL DISCLOSURE
GREECE EURO EXIT WOULD HAVE 'INCALCULABLE' IMPACT
JOINT DEBT ONLY PAPERS OVER COMPETITIVENESS GAPS"
Omigosh… who would ever have thought any of that?
They should do something about that.. maybe lend them some money or something.
They need Canada -- and Australia -- and China in the European Union.
This image correctly represents the current state of the eurozone:
http://en.wikipedia.org/wiki/File:Admiral_Graf_Spee_Flames.jpg
At the rate they are going, they will probably need to hit up a country with a better reputation and credit rating..
like Bangladesh.
"At the rate they are going, they will probably need to hit up a planet with a better reputation and credit rating"
there.
Why don't we just rehypothecate Greece back to itself a few times?
Worth a shot.
Is that why Greeks never leave thier little brothers bedhind?
They will need more than that. They need the federation of planets from star trek.
DoChenRollingBearing: The City of London is the biggest snakepit in world history.
You know that part in Scanners right before the guys head explodes?
The Last Hurrah?
Dow is within reach of the rarefied 13000 mark
Today's 13,000 Dow is 7,800 in '07 dollars.
So it's still down 45% since '07's 14,000 high.
Looking at it another way, '07's 14,000 high is 23,300 in today's dollars.
We're barely back to 13,000.
What are you using to calculate '07 dollars? Fed #, or Shadow Stats?
My calcs use 40% loss of dollar value since 2007.
It's actually 47.05% loss of value based on gold spot price over that time period, but some of it is higher public awareness of gold, so I use 40%.
People don't realize how much value the US dollar has lost since '07. It's pushing 50% now.
Good..... now, visualize how wages as well as middle and upper middleclass profits developed over that timespan.......
....next up, imagine the timespan shortening from 5 years, to ONE year.... so, about 40-50% in one year.....
....that is how much the german population "benefited" from just the first one year of the EMU :-)
And from what i have heard from other europeans, similiar things happened there, in a matter of about 3 years. Which brings up the question: How can wealth devalue THAT fast, for EVERYONE (though, some a bit more than others)?....... Dunndunndunnn!!!
Oh, wait..... does voicing the opinion that the introduction of the EMU, impoverished and bancrupted europe (or at least pushed it over the edge).... make me an extremist? Hmm, should stop talking now... else i may give some people ideas.
That's what they should do! From Europe side they're the biggest time bomb. Let them print and enjoy free wheeling for now. We will see how the situation develops.
Free England, Scotland, Wales and Northern Ireland ...
aka Britain or UK.
Indeed. England stay out of the Eurozone. The City is becoming less and less relevant. London is a has been. Keep the UK tied to the US, the Windsors tied to the Rothschilds and leave everyone else alone. Please, England go down with the US sinking ship.
huh? London reclaimed its spot at the top of world financial centers recently.
The London/NYC axis is massively larger than anywhere else.
London & NYC, joined at the incestuous hip, sister cities & home bases for the fractional reserve alchemists.
Not a problem Do Chen. Cameron has promised us a referendum on anything contentious (although I am more than aware of the value of such promises by politicians). Signing up for the euro just isn't going to happen ex a very large pile of dead bodies atop which will be mine!
Merkel's "crie de couer" suggests that the European Tobin tax is dead and buried (another foregone conclusion...although Sarkozy has unilaterally declared that France will go it alone...as if the French banks arent in enough trouble already!)
Meanwhile the "POSX" as Turd calls it (USDX to you mere mortals) is taking a bath - looks like a race to the bottom for both currencies from where I sit. And the PMs are on a tear - I wonder why?!
Good luck with that one Merkel, the british people will fight this tooth and nail. I just hope their politicians don't sell them out. Like many other countries have.
http://jimrickards.blogspot.com/
We're counting on just that. At last, the Brits can be blamed when the Eurozone failed.
Walkure - you think that's a cross we cant bear? Bring it on!
To claim something momentous, historical and relevant of a benevelont nature.
Nope, the French will be to blame, when the replacement for Sarkozy decides not to sing from the Angie songbook. The Brits will just say 'told you so', and watch while the Germans revert to type...
New Euro-Nationalists - Nigel tells Merkel some home truths in 2007
http://www.youtube.com/watch?v=yq_6e1A7gzA
Gotta love Nigel Farage. Thanks for reminder to watch the new stuff. There should be plenty of things for him to comment with a certaing glee...
Amen! Thank god for Nigel! Britain needs to get 100% out of the EU and all it's communist laws that make Britain a slave to illegal immigrants and lega EU migrants. British fought and died in wars to preserve their nation now the pack of wanker EU communists want to turn Britain into Europe's dumping ground for unwanted immigrants.
Screw the EU, liars, wankers, communists. Niegel knows. Britains need to demand Britain "Get Out of the EU". Why be a Soviet Republic in the year 2012. Recapture freedom and British democracy!
The hauling of your Island next to your special relationship but equally broke pal called USA might be a bit of a problem. Especially when those damn Irish are blocking the route. Then it will be equally difficult to split your island if bravehearts up north decide to go independent and/or declare Germany as their new daddy.
I think Obama recently stated that France is the USA's greatest ally.
For some reason he doesn't seem to like the Brits much.
Obamatron also "promised" to close GITMO...
As long as they take the Royal Bank of Scotland with them I'll vote for that!
That immigration problem the Brits are having is 100% home made. Can't go sailing the 7-Seas and pillaging and looting the crap out of every place and not expect that someday, the poor suckers are knocking on your own door. Her Royal Majesty, Queen of Treausre Island, the glorified ruler over the United Pirate Kingdom and her Not-So-Commonwealth-More-So-Privatewealth Extraction scheme.
Nigel should have a field day with this one...
I agree. Eventually, in one or two years time, Bloomberg's headline will be this one:
MERKEL SAYS 'WE NEED GERMANY IN THE EUROPEAN UNION'
Merkel will be a name in the history books by then.
What will Chancellor Gabriel have to say about it?
uhhhh, has Merkel seen Britain's debt to GDP ratio?
This shows how pathetic the situation has become. We need a worldwide reset, a gold standard and the smallest governments possible. The world would be thriving more than ever in no time.
Thriving as they throve in the 19th century or maybe the first half of the 20th? It wasn't a bad time to be alive really, Better hygiene meant more people could expect some or even all of their children to live to grow up. All of my grandparents were born in the 19th century and my great grandmother, who lived until I was in high school, had brothers who fought in the Indian wars (one ended up Indian Agent at the Rosebud Reservation). We are a long-lived bunch on both sides of the family. One of my grandmothers lived to see a great great grandchild placed in her arms. I was born right in the middle of the 20th century. f I am spared, in my great old age, I expect to bore my great grandchildren at Christmas, telling them that when I was a girl of 18, on live TV, I saw the first man walk on the moon. But for us to to get back to something that is probably sustainable means there is a great die off in our not too distant future and you and I and most of us reading, along with all those we hold near and dear will probably be long dead before the world gets back to where it needs to go. I believe it is going to be awful on a scope never seen before, and I think that is the most optimistic view. What with Fukashima and the Gulf of Mexico, and the nuclear bombs that are probably going to be thrown around, this may be an extinction level event and man just another unsuccessful experiment of nature.
I agree with everything you say, with the sole exception of the very last word you used.
Mankind is not a product of nature. You humans are just one of millions of "petri dishes" being monitored by more advanced civilizations.
We need a "Million Dollar Bonus" post on this. Please.
MERKEL SAYS 'WE NEED GREAT BRITAIN IN THE EUROPEAN UNION'
That my friends was a declaration of war. Where do I sign up, we march on the hun tomorrow.
who's Nigel ?
http://www.youtube.com/watch?v=R_59q3FvPgQ
Nigel, take a look at UK's government debt level. Then we can talk. But yeah, if Miss Merkel says so then we can be sure that euro is pretty much history. The chart on the bottom of this page is gonna crash through the floow soon: http://bit.ly/wZ7orO
It's a trap!
... smells like a S&P downgrade for the UK.
Merkle farts in your general direction.
:thumb up: in your direction!
Now thats an unpleasant thought, with an arse that big...
It's a joke.
See those 'riots'in Greece? The English only rise up once in about three or four hundred years. But when they do....
Is the fat frauline singing yet? Merkel knows the fuse is burning faster than all the EU kleptocrats can run while chewing mouthful's of pretzels on empty bladders.
Tylers: How about a day end NANEX HFT video update of the MOMO's in action?
LMFAO!!!!!!!
Cameron ain't comin' around unless Britain's biggest industry, the Ponzi that is banking & financial services (and that has been pounding 99.5% of brits in their arses on a daily basis for generations), gets a Hank Paulson-Ben Bernanke-esque TARP/TALF/QEtoInfinity/ZIRP4ever/MaidenLanesEverywhere BAILOUT, bitchez!
Warm up the ECB-CERN Print-A-Lot and lube the rears of Europeans!
prepare ship for - gasp - ludicrous speed.
Keep in mind that Merkel said the "European Union", not the "Eurozone".
To not be in the "European Union" the UK would have to leave it. If that happened, the rest of the EU nations would be unlikelly to extend to a betraying - that's how they would see it - UK the same access to the EU market as they do to the likes of Switzerland (the rest of the EU would gain little from it), so the UK would loose free access to EU markets. This would kill most of the Financial Services Industry in London which is heavilly dependant on providing services and trading in the European Union (and would be great for the likes of Paris, Zurich and Frankfurt, one more reason why it would be highly unlikelly that the EU gave a departing UK free access to the EU market).
Cameron's lips are so thoroughly glued to the ass of the Financial Services Industries and the City of London that he would never let this happen.
As for the Eurozone, for the UK to join the Eurozone would be stupendously idiotic and I doubt anybody is seriously considering it.
Great Britain to Merkel, "Sod off", or "Tag your it".
sarkozy plays cupid and stings cameron in the ass with a tobin love arrow,... and the great hypocritical loudmouth basking in the sinking isles, of a 'once-upon-a-time', fairy-tale princess lizzy domain --- poops-up, ze` mighty mouse nigel, that roars like a nite-time read --- yes, UK's only, sir nigel, responding,... 'no fair', we were first --- as angela smirks a fair-weather kiss, starboard, and windswept ed towards sarky's aft,...
L O L Z
ha!!!! parasite needs new host...................
It's over for the euro,
all the market selling will happen in a panic
MERKEL SAYS GREECE IN 'VERY COMPLICATED SITUATION' = broke, not too complicated
True, however it should read MERKEL SAYS GERMANY IN "VERY COMPLICATED SITUATION" Greece is going to take them all down with her!
Somebody grab a vid of that bunga party.
I REALLY wish my creditors were as LEIN-ient with me as the market as a whole is being with Europe. How asset managers have ANY hope in what is passing for leadership over there is beyond me. Total BS.
Run Brits run...as fast as you bloody well can....dammit!!!!!
Merkel will have no part in forcing Greece out of the Euro. BWAAAAAAHAAAAAAAAAA, how do you know Merkel is lying, her lips are moving.
They need to spread the pain to more people. Might as well have them all revolt at the same time I guess.
Uhm... Great Britain IS part of the European Union...
Last time I checked they still used the pound. So, no, they are not part of the monetary and fiscal "union".
The EU existed a long time before the monetary union (& associated fiscal pact(s)).../
Great Britain is part of the European Union, it is not a part of the Eurozone...
Correct. Hardly complicated huh.
Yes, and Great Britain's faith in the success and commitment to that European Union is evident in their acceptance of the Euro - NOT.
Wake up, there has never been any kind of union as far as the U.K. is concerned. Yet another sheep. See the "yes minester" link below in this thread to get a better understanding of U.K. policy and how they "participate without participating" as it were.
they aren't bound to accept the euro as currency which i believe is the point being made
I think Merekel wants them to play ball...they won't
Well they don't call it a "Hail Mary pass" for nothin'. My sources have told me "Chancellor Miracle" has informed Switzerland to "go long on this one."
Merkel says all countries and people are welcome back to the Deutchemark, the new/old currency of the European Union. DeutchZone.
Douche mark it will be indeed. Weimar 1923 Douche marks!
Im glad she's a rocket scientist
LOL!!!! The U.K. is broke too!!! Let me fix that for you Merkel - "We need any one of the BRICs in the European Union"
Even if the U.K. wasn't broke, it's looking over the fence at Greece getting ready to shit its pants with portugal, italy and spain all having the look of intestinal distress on their faces. Does that asshat think they are really going to jump into bed with those countries on the cusp of default? This is pure comedy!
That is where all the good crooked bankers are....why not....!!!!!
AKA THE PONZI IS ABOUT TO FAIL.
Indiana Jones once said;
WE ARE GOING TO DIE!
This is where they are now.
I should also point out there is no lever to save them from the debt leviathan that will crush the EU and world soon enough.
Somebody is over the barrel and it aint Greece.
Yep. If a bank lends you a little bit of money and you can't pay it back, that is your problem. If the bank lends you a huge amount of money and you cannot pay it back, then it is the bank's problem.