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To add to the "liar liar pants on fire" calls Germany is now reported to be working a plan to recapitalize their banks if Greece defaults...
...Remember that we were just told days ago that these banks were fine and needed no capital and in fact calls for more capital by the IMF were officially refused. The same claim has been made about our banks. You were just told officially by Germany that their claim of adequate capital just days ago was a lie as they are now planning to recapitalize the banks. Do you believe our banks are not similarly exposed and also insolvent?
Alas, for France... Bloomberg reports that the abovementioned banks "may have their credit ratings cut by Moody’s Investors Service as soon as next week because of their Greek holdings...
... only ``upside`` to this will be the end of the scam. No EFSF. Or they will pin ALL the debt on Germany. And if they do get to do this, when it all collapses, Germany will have the worst depression in history.
No doubt, T. Durdan & Company have a penchant for the dramatic, but with a potential debt downgrade sure to add additional stress to the EU financial system, lets see what happens mañana as overseas markets begin to open.
My question to the peoples of this thread isn't if when or how the economy will collapse, it's why avoid it in the first place? I simply cannot fathom what they (Government and the ultra wealthy) stand to gain by pushing out the inevitable collapse of the Western financial structure. Even if we assume there is a scheme involved and someone somewhere has the master plan, I still cannot see what would make a latter collapse better than an instantaneous collapse.
I think the more frightening conclusion is that "they" actually DON'T want the system to collapse, there isn't a master plan, and no one has any idea what's happening to the economy. That they truly thought back-stop guarantees, loans, bailouts, and negative interest rates would save the economy...
Are they delaying it until all Pieces are in Place?.. The first one (waiting for all Pieces to be in Place) is my favoured,and most likely one. But you have to ask yourself,if they didn´t already lose Control of their own Scenario...
Nobody is in control. They only pretend... In 6.000 years of history, there never was a successful government.
Pericles wanted to stabilize Athens' dominance over its alliance and to enforce its pre-eminence in Greece. The process by which the Delian League transformed into an Athenian empire is generally considered to have begun well before Pericles' time, as various allies in the league chose to pay tribute to Athens instead of manning ships for the league's fleet, but the transformation was speeded and brought to its conclusion by measures implemented by Pericles. The final steps in the shift to empire may have been triggered by Athens' defeat in Egypt
It was from the alliance's treasury that Pericles drew the funds necessary to enable his ambitious building plan, centered on the "Periclean Acropolis", which included the Propylaea, the Parthenon and the golden statue of Athena, sculpted by Pericles' friend, Phidias. In 449 BC Pericles proposed a decree allowing the use of 9,000 talents to finance the major rebuilding program of Athenian temples. Angelos Vlachos, a Greek Academician, points out that the utilization of the alliance's treasury, initiated and executed by Pericles, is one of the largest embezzlements in human history; this misappropriation financed, however, some of the most marvellous artistic creations of the ancient world.
Originally posted by DangerDeath
The solution for Greece's problem is in America. As America is moving it's debt limit up, so will Greece.
This is absolutely normal for the system based on the principle of capturing everyone and everything into debt.
The only problem is the fact that debtors are caught in their own cobweb
They'll probably pour more bombs on poor Asians, out of shear frustration...
Reports of air passengers acting suspiciously on two flights prompted authorities Sunday to scramble fighter jets on the 10th anniversary of 9/11.
A heavy security presence permeated lower Manhattan on Sunday, the 10th anniversary of the 9/11 attacks, as authorities continued their search for possible plotters of another terrorist strike.
Information considered credible but unconfirmed
The recent gyrations in global stock markets are just the beginning, says U.S.-based economist and author Harry Dent, who believes the Dow will fall below 10,000 in the near term before crashing to around 3,000 in 2013.
Originally posted by Wrabbit2000
reply to post by Vitchilo
Okay, I don't know which is worse here. The fact NBC is running a doomsday story like this or the fact the article would seem to be contradictory at the same time. On one hand they describe a true doomsday scenario for those "rich people" who also happen to actually hire people in the world....by saying the DOW may crash to 3000. Then toward the end, they suggest staying OUT of Gold and Silver to invest more heavily in Dollars. Wow..... Did someone not take their medication before writing that NBC story today? I've heard of hedging a story, but this is just plain ADD on their part.