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Warm-up for the France downgrade no doubt. Vienna is not so far from Paris if you're traveling from the States, just FYI for you S&P analcysts.
And now we discover why Europe and the US in particular was so keen to introduce all this 'Know Your Client' regulation into the offshore investment business.
Personally I'm always tripping over these terrorists trying to launder US200 per month in an offshore savings plan.
Good job we gave up all those rights wasn't it?
Doing the debt waltz...
Blimey, Gerry-speaking Pigs!?
Der Führer wird nicht glücklich sein!
Now what was that again?
France/Germany 10yr 161bp.... and rising. You go girl:)
Watch Keiser Report: Gold Wars
“The ECB can print euros, the Federal Reserve can print dollars and the IMF can print these Special Drawing Rights.”
“The first ever financial war game conducted by the Pentagon… no one knew how to use stocks, bonds and DERIVATIVES to fight a war.”
“The insiders can protect themselves, the people who lose are average citizens, people saving in a bank account, people with retirement savings, annuities, insurance policies, anything that is denominated in nominal dollars that is not going to go up with inflation, they’re the victims. This is sort of organised theft, taking money from average and giving it to the elites who know how the game is played. So that is why they like paper money.”
“People say there’s not enough gold to support world trade. There’s always enough gold, it’s just a question of price” – the price in some fake paper instrument.
“In 1925 if they had said $50/oz instead of $20/oz, that might have been mildly inflationary and we might have avoided the Great Depression.”
EVERYONE NEEDS TO LISTEN AND UNDERSTAND WHAT JAMES RICKARDS IS SAYING BECAUSE HE IS MAKING ABSOLUTE SENSE.
One shocking headline after another
Just feeding the bears
Meanwhile, the SPY is still above the 21-day EMA
Phew, that was lucky...
Acrtually Robo I could use some good advice right now; I have this shit load of money currently tied up in gold bullion that I'd really like to strap to a depth charge. What do you recommend?
Schnitzel is the un-official currency anyway, we'll be happy to return to it!
All that's happening is predictable, as there are 7 stages that every major economy goes through. Those who know how it works profit & massive wealth is transferred to them. Several months ago I learned this information from a millionaire whose site I found & am sharing it with everyone I know. His free video "How To Create Incredible Wealth in Today's Economic Crisis" is at: http://theelevationgroup.net/presentation/register.php?a_aid=160667&a_bid=290b868b&chan=y Hope this info helps everyone as much as it has me. Dr. Nancy
yes but does it pay us the same fee as well?
That'll be a surprise attack then...
Honestly, this is like something straight out of 'Blackadder Goes Forth"...
Goulash crash, bitchez!
Store your hops and barley dry!
Downgrade of America at the end of November.
Downgrade of Austria at the end of December.
Downgrade of France before the April presidential election.
Win win win!
What's happening in the Netherlands these days? They never seem to get a mention. Maybe they're too stoned to worry about anything.
In the Netherlands there has been a remarkably underreported development, even in the country itself to some extent, that centered around the previous central bank president (and member of the Trilateral Commission, former chairman of BIS) Nout Wellink. He was clearly snubbed for another term at the helm by the government which was helped by Wellink's arrogant behaviour that triggered quite some resistance to him with the general public (he denied any wrongdoing or errors of judgment in the Icesave/Landsbanki affair, the ABN-Amro takeover and the demise of DSB bank). The Dutch National Bank proposed another candidate when it was clear that the battle for Wellink was lost, only to be snubbed again by the government who pushed their candidate through, a relatively young and unexperienced guy from the Finance department.
It seems that since then the Netherlands isn't as close to Germany as it has been since WW2 when it comes to monetary policy (dutch guilder was pegged to deutschmark long before all EU-currencies were pegged to one another). Don't get me wrong, NL is still closer to DE than to FR or anything south of Brussels but the media and elites is advocating 'stepping up to the plate' quite vocal: the EU must be saved by the rich countries footing the bill, because the alternative is unthinkable (echoes of the TPTB campaign during the referendum on the EU constitution come to mind). In other words, I doubt whether NL will stand by Germany if the pressure keeps rising like e.g. strongly suggested by Ambrose Evans-Pritchard : "US and China must crush Germany into submission" http://blogs.telegraph.co.uk/finance/ambroseevans-pritchard/100013198/am...
There is no requirement that a sovereign is AAA to fund the EFSF, but rather for the fund to be AAA a certain proportion of backers are triple A. If one is downgraded, the result is either the other AAAs increase their share, or the fund has a lower rating.
This is a key reason for a reluctance of investors to step forward, it's a first to default risk across the Eurozone...
It appears that AAA rating, which means Austria is still eligible to fund the EFSF,...
Makes you wonder if it isn't worth it for a country like Austria to engineer a downgrade to 'AA' for itself just to avoid the EFSF bullshit.
All debts are joint and several old stick, they're still on the hook whichever way you look at it...
Austria's contribution is a rounding error. Belgium will be next to get downgraded, then on to France
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