Euro falls as market doubts rescue package

SO post from a while back,

check out this book,

History keeps repeating, and repeating, and repeating.

For those interesting in how events such as this just seem to keep happening over and over again, I highly recommend the following book: A People's History of the United States by Howard Zinn.
Known for its lively, clear prose as well as its scholarly research, A People's History is the only volume to tell America's story from the point of view of -- and in the words of -- America's women, factory workers, African-Americans, Native Americans, the working poor, and immigrant laborers. As historian Howard Zinn shows, many of our country's greatest battles -- the fights for a fair wage, an eight-hour workday, child-labor laws, health and safety standards, universal suffrage, women's rights, racial equality -- were carried out at the grassroots level, against bloody resistance. Covering Christopher Columbus's arrival through President Clinton's first term, A People's History of the United States, which was nominated for the American Book Award in 1981, features insightful analysis of the most important events in our history.

Revised, updated, and featuring a new after, word by the author, this special twentieth anniversary edition continues Zinn's important contribution to a complete and balanced understanding of American history.


Contemporaries who are mindful of "conspiracies" and the historical events influencing such, including this predictable outcome, should be fluent in the content of this book.

www.abovetopsecret.com...

books.google.com... #v=onepage&q&f=false

Chapter 23
The Coming Revolt of The Guards

Something stood out in my mind,

"Crisis,"

The idea of a savior has been built into the entire culture,

www.youtube.com...

reply to post by pieman


Actually NO,

Why would we leave Obama out when is a the most significant player, who twisted Merkel's arm,

Are you serious?

reply to post by Stormdancer777


Yeah, I'm serious.

Are you?
The president of the US is a bigger player in EU affairs than any of the european governments, the heads of state, the EU president, the IMF or the body of general EU bureaucrats? Seriously?

Give me a valium.

[edit on 11/5/10 by pieman]

Originally posted by marg6043
reply to post by Thirty_Foot_Smurf

 

You got it wrong, the bail of one trillion was for the Euro, $140 billion, three-year bailout is going to Greece, in installment bases, but the high unemployment and low production will never meet the demands of the loan.

In other words Greece doesn't produce enough and people doesn't make enough money to pay back.



[edit on 11-5-2010 by marg6043]

Ahh, thats what I get for skimming. Thanks for the correction.

A little anger from the German press

Bild

The EU and the Eurozone want to spend a massive €750bn to save the European currency. Germany alone will have to fork out €123bn for its bankrupt neighbours.

But there is now not enough money for the planned tax cuts!

Are we really the schmucks of Europe?

Chancellor Angela Merkel said: “We are protecting the money of people in Germany.”

REALLY?

reply to post by pieman


In many ways US is the biggest player, why? because is becoming obvious after the Financial crisis in 2008 that it originated from the US and spread globably like a domino effect, also that US Federal Reserve have a biggest role on global central banks more than we think.

I after following he global markets, the market crash in the US the Golman Sach, JP morgans and financial institutions and its impact around the world, I am pretty much sure that the US is the NWO headquarters.

With all the downfall of the US and the bailing and printing out of Money to keep the economy afloat, our debt is big enough to put us in a big downgrade, but that is not happening and that is because US influences when it comes the financial world.



[edit on 11-5-2010 by marg6043]

reply to post by thoughtsfull


Isn't this exactly what I told you a couple of days ago? Mark my words: this tendency is going to spread to other countries. The feeling of unity, the feeling of being a European citizen (for the minority that feels like that) will start to fade very quickly. You know, every country has its problems and hence, spending billions on others instead of on their own makes people swiftly turn selfish and narrow minded. One bail out is swallowed with reluctance, but if more are to follow, people are not going to be happy.

reply to post by thoughtsfull


The UK is also voicing the same thing they know is troubles coming all those nations way, so they are keeping whatever wealth they have for their own.

Originally posted by Mdv2
reply to post by thoughtsfull

 

Isn't this exactly what I told you a couple of days ago? Mark my words: this tendency is going to spread to other countries. The feeling of unity, the feeling of being a European citizen (for the minority that feels like that) will start to fade very quickly. You know, every country has its problems and hence, spending billions on others instead of on their own makes people swiftly turn selfish and narrow minded. One bail out is swallowed with reluctance, but if more are to follow, people are not going to be happy.

The ball certainly seems to be moving quickly right now.. I wonder what they are trying to shore up.. They say contagion, but there does seem to be a concerted attack on the EU for the EU to respond this way and individual governments risk being ousted by taking these types of risky measures.

And it is risky taking the promised tax cuts of one nation to bail out other nations.. in efforts to prevent the spread of the contagion they use a dirty needle... we are in a very risky timeframe..

This kind of risk taking just appears to my simple mind to be buying time, but the degree of risk indicates it is short term... what are they buying time for? that is the question I keep asking myself..

Originally posted by marg6043
reply to post by thoughtsfull

 

The UK is also voicing the same thing they know is troubles coming all those nations way, so they are keeping whatever wealth they have for their own.

I think most nations are voicing similar worries at the moment.. look at the hoohaa over Britain/Argentina/Falklands, which if you look behind the scenes your find Argentina appointing a British bank to sort out their sovereign debt swap, they are in trouble... and all the talk of war masked the dire situation..

I have to admit that I keep getting lost in the smoke and mirrors the establishment are throwing up to hide how bad things really are...

Originally posted by thoughtsfull
what are they buying time for? that is the question I keep asking myself..

Locking the EUROZONE into a Fiscal Union..

I've been saying this for months.. It seems to be happening now..

reply to post by thoughtsfull


Incredible, Argentina also, I tell your the derivatives scheme got almost every country into their mess.

Where did all that wealth went, oops I forgot it was all fake.

Originally posted by thoughtsfull
This kind of risk taking just appears to my simple mind to be buying time, but the degree of risk indicates it is short term... what are they buying time for? that is the question I keep asking myself..

In Holland, we describe this behavior as 'panic football' and I believe the only reason they are doing this, is because there are very few alternatives, if any at all. This financial injection is merely a bandage and to stop the bleeding, it seems that the bandage needs to be replaced faster and faster. When do we run out of bandage is exactly what I keep wondering too.

The real problem is not being solved and attempting to solve this crisis by creating more debts has shown not to be effective at all. Do you know whether it would theoretically be possible to exclude failing countries from the EMU zone?

Originally posted by Dermo
Locking the EUROZONE into a Fiscal Union..

I've been saying this for months.. It seems to be happening now..

That could avoid future surprises, but it doesn't solve the poor economic state of countries such as Greece, which is the reason for the current fear.

[edit on 11-5-2010 by Mdv2]

Originally posted by Mdv2
That could avoid future surprises, but it doesn't solve the poor economic state of countries such as Greece, which is the reason for the current fear.

It doesn't at all but for the Globalists and Banks.. Who hold the cards unfortunately, the EU is not meant to fail.

It will mean some serious pain for the Mediterranean countries unless the currency is allowed to devalue.. Which I think will be done artificially and slyly (in order to bypass German pressure) once the first part of a tight-ish fiscal union emerges..

Either that or the Union breaks up.. And in all fairness.. Can you see the EU breaking up? It doesn't matter how many people want it to end, every high end Politician, Banker and Socialite in the continent is an EU backer..

Originally posted by Dermo
Either that or the Union breaks up.. And in all fairness.. Can you see the EU breaking up? It doesn't matter how many people want it to end, every high end Politician, Banker and Socialite in the continent is an EU backer..

Well if they really are they need to treat this differently. It isn't an economic issue at all. It's warfare and an attack on vital civilian infrastructure.

If they want to stop the collapse of the EU they need to go on the offence. Providing more liquidity for the speculators to use against them doesn't work. It's been done before and the government lost, it was Britain vs Soros in that case.

They aren't going to win this war by fighting on the enemies terms and by their rules.

If they really want to fight economic hitmen. They need to send real hitmen. And we the people still have the power to do that much at least.


[edit on 11-5-2010 by belial259]

reply to post by belial259


I get your perspective but what you have to understand is that.. To get a Fiscal Unification bill through the parliaments of every EUROZONE state, the EURO has to be seen to be on the verge of collapse and with it the EU.. If things are hunky dorey, it will not pass..

This will be left until it looks like it is all about to collapse and then pushed through.. Same as always.. But what you also have to remember is that the EU won't actually be on the verge of collapse.. It'll be a media thing.

THEN a real policy can be made because at the moment it is impossible to do.. 16 diverging fiscal governments can make things very difficult to do as an entity.. remember while the EU can seem like a nation in 50% of things, the other 50% split it apart to the core..

There is always a big game being played in the EU for control and with the Lisbon Treaty having been passed conveniently just before all this began to take effect, it is very easy to dilute sovereignty..

I also spotted someone above saying that a Unified Fiscal Policy is against the German Constitution.. Em.. Wasn't the Lisbon treaty also against it? Didn't that come into effect in December?

Originally posted by Dermo

I get your perspective but what you have to understand is that.. To get a Fiscal Unification bill through the parliaments of every EUROZONE state, the EURO has to be seen to be on the verge of collapse and with it the EU.. If things are hunky dorey, it will not pass..

Well I hope you understand that is exactly what they want you to do.

MOODY'S: SAYS EURO-AREA `FISCAL RETRENCHMENT' MUST COME FASTER

So by doing that you'll just be playing into their hands.

Obama decided to allow interpol jurisdiction inside the USA not long ago. I don't understand why we've given up on the idea of enforcing the law, stopping market manipulation and insider trading and arresting the criminals doing it. Instead of paying them off and hoping they'll go away.

And if for some reason they can't be arrested, well we have intelligence services and elite special forces with the best hardware money can by. And yet the EU, the US and Australia have no political will to mobilise their regulators, or law enforcement, or military to deal with this problem.

One might wonder why? They don't seem to have a problem mobilising any of those assets to deal with normal people.

Here we are just after the 65th anniversary of VE day and after fighting off the scourges of facism and communism, we're now powerless to defend ourselves from the ravages of bankers?

[edit on 11-5-2010 by belial259]

[edit on 11-5-2010 by belial259]

reply to post by belial259


I do understand the 100%..

I have managed to separate myself from any emotion and or nationalist bias over the past year in regards how I look at what the EU do.. It politics are a big hobby of mine and I see it all very clearly.. Especially the propaganda they direct at us.

Also for the record.. I have no problem with the unification of mankind.. So I don't see most of these Globalist moves as an issue.. Just the ones where there is too much government and bank interference..

Some people on this site hate to hear that.. Thats their problem.

Multi-billion euro rescue buys time but no solution

Here's a sobering analysis.

initially the markets welcomed the deal like a liberating army, relieving the beleaguered governments of southern Europe.

But as the dust settles, doubts are surfacing over how much the deal can really do to solve the underlying problems.

The problem at the heart of the crisis, that some governments have borrowed too heavily, will not be tackled directly by this rescue, which offers emergency funding and loan guarantees.

Indeed, if Greece takes up the offer of more borrowing, its position is in some ways worse.

"The last thing you give a drunk is another drink," says Jeremy Batstone-Carr of Charles Stanley stockbrokers.

Greece is already struggling to finance its borrowing and is requesting the first tranche of a previous rescue package, agreed last month. Spain and Portugal are being closely watched.

"These actions do nothing to change the fundamentals," says Jeffrey Miron, professor of economics at Harvard University.

"I think we are just kicking the can down the road, because we haven't actually made these economies more productive so that they can pay off these new debts. We're in some sense just making the problem worse by pushing it a bit into the future."

Some economists worry that the stringent austerity programme will trigger such a sharp shrinking of the Greek economy that the deficit will be impossible to plug as tax revenues dwindle further.

"In the very, very near term the threat has dissipated somewhat. However, and it's a big however, the medium and long term threat has not dissipated at all. What has to happen at some point is that the indebted nation has to come up with a way of curing its debt," says Jeremy Batstone-Carr.

Oh wait, Goldman sachs likes the bailout.... because they have billions of assets in Europe. The big guys only EVER look out for themselves and save themselves at ANY cost.

Jim O'Neill, Chief Economist at Goldman Sachs thinks overall the package is the right solution.

Expect to see a further downgrading of Greece's debt, and further downgrading of Spain's, Portugal's and even the UK's.

NEW YORK — The dollar continued taking back gains from the euro Tuesday as markets weighed the long-term effects of the nearly $1 trillion loan package for countries that use the euro.

The euro fell to $1.2694 in late trading in New York Tuesday, down from $1.2804 late Monday.

Following the weekend's news of the euro750 billion loan deal for heavily-indebted countries using the euro, the currency had briefly surged to almost $1.31 overnight.

All of the euro's gains from the weekend deal had evaporated by late Tuesday as markets mulled over how the European aid package would weigh on economic growth and monetary policy.

source