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Germany declares economic war

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posted on Sep, 25 2009 @ 06:38 AM
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I agree with several of the posters here. What Steinbrück is saying is - as has been pointed out - a good thing some ways. Over the last year, this board has been frothing at the mouth over the way bankers and CEOs &c had been operating in both the UK and the US. Steinbrück is saying similar things. However, rather than anonymous posters on a board typing furiously, he's actually got a little more clout pr at least a bigger audience than the rest of us.

That said, Steinbrück also has an election coming up. Like most politicians at this time, he needs to get in the public eye and wave his hands about a bit particularly when facing new rivals like Die Linke.

I'll also echo the points that have been made about the way the EU works. 'We' didn't really sign on for much of what happens now with the EU in the first place and the whole thing is hopelessly tipped in the favour of the French and the Germans. In fact, it's difficult to pin-point anywhere that does as badly as England does regarding their involvement with the EU. Whether it's farming, fishing, subsidiaries, payments or whatever, it seems we get shafted on everything.

Lastly, it's also worth pointing out that the blog is actually taken from the Telegraph, which, in many respects, is the Daily Mail-lite and if they can't sensationalise any Europe-related story and create some scaremongering before breakfast, then their day is wasted.




posted on Sep, 25 2009 @ 06:57 AM
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reply to post by Amagnon
 


Germany has retained a state supported manufacturing industry, against EU directives and a sizeable gold reserve, against EU directives, whereas the UK stopped state support of it's industries in accordance with EU directives and sold off a large part of its gold reserves in 1999 at the behest of the EU...

Germany only has those things because they, like France, are part of the EU club but don't have to follow it's laws. The UK follows the rules and now we've been shafted.



posted on Sep, 25 2009 @ 07:01 AM
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I heard Germany was launching 100's of V2 Rockets filled with Iou's at London tomorrow



Sorry I just can't resist sometimes



posted on Sep, 25 2009 @ 07:06 AM
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The statement is not being taken seriously and the Germans are only crying crocodile tears after the French have decided the European Union is best served on an Anglo-Franco basis.

German influence is shrinking in the European Union.

And, for the record, it is election time in Germany.



posted on Sep, 25 2009 @ 07:18 AM
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Originally posted by thoughtsfull

whereas in Europe there is to much history, and I am not sure how long the EU will actually survive ...

they would consider breaking away and setting up the Witan again, but again the History is there to be the South Saxon Kingdom again. ...

And I am sure the same can be said across Europe.. For my mind the EU is actually very dangerous, for the world and for the people of the EU.


The day these things happen is the day we can say goodbye to the evolution of our civilization. We will revert back to distrust and war.

Large intertwined blocs that are intertwined with other large blocs is the only way forward for our species.

There are always people that are afraid of the future and change.. there always has and always will be.



posted on Sep, 25 2009 @ 08:37 AM
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Originally posted by ufoorbhunterBritain would be better off going it alone, or even better becoming the 51st state!



That's good. Two countries that can't make cars properly uniting. That'll be the day.





posted on Sep, 25 2009 @ 09:12 AM
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reply to post by Dermo
 


Ya know.................

No one held a gun to the German Investors- they went in eyes open and like the rest, now claim they were dooped.


Everyone who bought the toxic investments is guilty and responsible for what "THEY" did and what followed.

Instead of trying to blame UK, why doesn't Germany blame the scummy bankers that hurt them so bad. THEIR scummy bankers that screwed their economy.

Just more of the same, we refuse to blame ourselves for what we did, so lets blame someone else and if they don't like it we will try economic war.




posted on Sep, 25 2009 @ 10:19 AM
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Originally posted by mrmonsoon
reply to post by Dermo
 

Instead of trying to blame UK, why doesn't Germany blame the scummy bankers that hurt them so bad. THEIR scummy bankers that screwed their economy.


And guess where those scummy bankers are that the Germans are trying to go after... ie the ones that are unregulated that caused a huge amount of the European trouble??

Wait for it... Wait for it...

THE CITY OF LONDON!!! Not Germany.

German bankers were already very tightly regulated by our standards.. their system didn't crash after all, it only got hurt by the US crash that was caused by no regulation in the Global financial hub. This ONE MAN is looking for the same regulations that are on their bankers to be put on the UK bankers and speculators in order to stop another GLOBAL CATASTROPHE like this one from happening again.

I think its a fair enough SUGGESTION from ONE MAN.. Its not an official German request after all.. read the article.


[edit on 25/9/09 by Dermo]



posted on Sep, 26 2009 @ 03:33 AM
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Originally posted by mrmonsoon
reply to post by Dermo
 


Ya know.................

No one held a gun to the German Investors- they went in eyes open and like the rest, now claim they were dooped.


Everyone who bought the toxic investments is guilty and responsible for what "THEY" did and what followed.

Instead of trying to blame UK, why doesn't Germany blame the scummy bankers that hurt them so bad. THEIR scummy bankers that screwed their economy.

Just more of the same, we refuse to blame ourselves for what we did, so lets blame someone else and if they don't like it we will try economic war.



If an investor buys a AAA security - then thats what they expect to get. However, those financial instruments should never have been rated at AAA, and further than that - the MBS's are not even secured, because the end holder does not have recourse to sell the underlying asset (even though the right to do so is EXPLICITLY implied by the use of the word 'security'). Therefore - the sale of those assets is fraud - so the buyers bought in good faith, but were quite simply ripped off and lied to. Due to the complexity of the underlying assets, it would be virtually impossible for the end user to determine that they were fraudulent.

An analogy would be that you were sold a car with faulty brakes, and the engine was totally corroded internally - you couldnt detect those things, but if the seller gave you documentation that the car and engine are perfectly new - then they should be legally responsible when it blows up, or you crash due to failed brakes.



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