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Big banks in France being downgraded by Moody over PIIGS debt holdings

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posted on Sep, 14 2011 @ 01:34 PM
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Thanks Dave!
You brought up some VERY valid points and demonstrated that my fear on this is illogical. I truly appreciate that. I like it when people rationally explain things and help people see rather than just calling names.




posted on Sep, 14 2011 @ 02:10 PM
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Originally posted by applebaum
I am not an economist. I really do not have a full grasp of how this will affect the world financial stage. It seems to me that much of the world is in deep debt to one of the most communist countries on the planet. So what happens if Greece, France, Europe and even the USA go belly-up financially. Is China simply posturing for world domination both physically and financially? Seems to me that is where the power is anymore. Please educate me. I sincerely hope I am wrong.


USA and the world will not go belly up. Only the banks will. We humans still have needs but each country do not have the full resources to sustain its citizens, unlike USA. THus, trade will still go on because of such needs, and from there lays the growth of nations.

When we buy a loaf of bread, think of the processes that made bread in its present form to us possible - the growing of wheat, harvesting, threshing, packing, middleman packaging and selling, transport, etc, etc - meaning employment along the away. Extrapoliate upon just one person - you, to billions in the world buying a loaf of bread and you will see how economies through resources, trade, and economies came about.


Indebted to Communist China? ROTFLOL!!!

China's CCP gov, is FULLY INDEBTED to its own citizens!!!!

While it may claim to have TRILLIONS of reserves, much of that money do not belong to the CCP, but to the Sovereign People. Unlike most democratic countries where gov revenues are spent on social benefits for its citizens such as education, infrastructure, health, etc, China DOES NOT.

Do not be be misled by its military might, its amazing cities, its supposed splendour many blind both western and eastern bootlickers laud the CCP to the skies. Step just a few miles out of the cities and you will weep at the abject poverty of our fellow human brothers and sisters of the Chinese ethnic group. Trillions in reserves would only be a thousand odd to its 1.3 billion citizens if shared today and will not even pay for a week stay in hospital for medical treatment, unlike US with only 300million citizens.

It is ABSOLUTELY unconscionable for Italy and Europe to appeal to the Chinese CCP for financial help. It is the money that should be use for the social spending of the impoverised chinese masses.

For the love of Caesar, Hindenburg and DeGaulle, please stop this atrocity by European leaders, their banking and corporation cronies from robbing the chinese sovereign people again by buying junk sovereign bonds that are eventually to be paid to banks. Our chinese brothers and sisters have no voice in that tyranny, but we, democratic mankind do have a voice and more critically a conscience.

Those European corporations now in China had already been sitting on billions of profits from exploitation of the chinese masses with slave wages and selling products to the world at high prices. Better the European inept leaders get their crony corporations to bailout the nations and banks, if they have the guts and conscience.


There will be NO wars. Mankind - you and me, with our families, social networks, WILL NEVER ALLOW IT to happen, when we are more awakened to truths and realities, and the reality is - the financial culprits alone will be made to pay this time instead of our loved ones.
edit on 14-9-2011 by SeekerofTruth101 because: (no reason given)



posted on Sep, 14 2011 @ 02:51 PM
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people don’t understand the implications of what all this means. If Greece falls so does the world! We are all intertwined.

Let me give you just one small example. Bank of America (BOA) Bank of America, directly and indirectly has loan out to Greece, just like a lot of the major banking institutes. If Greece goes under BOA will have to take losses on its loans to Greece that will force BOA into bankruptcy. BOA only has 50 billion dollars cash tops with deposits toping 1.5 Trillion dollars.

So if BOA goes under the FDIC will have to insure all 1.5 trillion dollars in deposits. No problem right? Wrong, FDIC is broke from the 08 financial mess. So what happens then? The FDIC is linked to the Federal Reserve so the federal Reserve will have to print the cash to make good on the FDIC insurance. That equals instant inflation if not hyperinflation hitting the markets within days.

This is just one bank!

are you scared yet? what happens with hyperinflation? Well the end result is commerce stops and supermarkets go empty with no food on the shelves to make a long story short.

Millions will die! This is not a joke! Stock up on food now and have at least two weeks of cash on hand if there is a bank holiday declared

This is why banks are to big to fail. if they fail, the country falls!!!!!!!!!!
edit on 14-9-2011 by camaro68ss because: (no reason given)



posted on Sep, 14 2011 @ 02:55 PM
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The US is on the brink of a double dip recession. The French exposure to Greece is greater than all other European partners combined. In Greece fails, so will the three largest French banks. They will need to be bailed out or nationalized or the other European dominos will begin failing, throwing US and eventually the real of the world into a recession making 2008 look tame. One thing that has been overlooked is the US intelligance arm in Greece is very important and cannot be compromised. Also, the US financial exposure makes Greece too big to fail, but the US hands are tied with already too high debt themselves. The wild card is a group of investers that can bail out Greece. The group includes Russia, India, China, S Africa and Brazil.

The problem is that their influence, particularly China's seems contrived as if in the background this problem was of their making. I.E China willing to buy outrageous debt making US eventually insolvent and impotent. Using UN veto power to force US to go-it-alone with two costily wars that further extends our debt to unmanagable. Accepting slavery wages in China to bring US jobs to China, furthering our root employment problems.

The next two weeks will tell us a lot about how this will unfold.

Note: If the fed prints money to bail out Greece, that will kill us too with high inflation and eventually anachary. We are screwed either way. Thanks to Obama for $10 trillion of waste and a polarized US! It seems he is a Chinese puppet?!
Is that why he bowed to the Chinese President during his visit there?
edit on 14-9-2011 by eagledriver because: (no reason given)



posted on Sep, 14 2011 @ 03:37 PM
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I could not be more happy. When people stop getting their welfare, pensions, govt paychecks, etc they will go ballistic and wake up to the fact that a handful of financial institutions are behind this whole racket.

Politicians spewing platitudes will no longer placate the pacifist proletariat. When worthless paper won't buy a watermelon or wing of chicken, the angry beast will wake up out of it's decades long coma. The American electorate has been conditioned to expect immediate assistance.

I want to see the looks on the faces of the bankrupt politicians as they try to
Explain "All the money is gone and there is a big fat IOU to Goldman sachs sitting in the safe where all the money used to be. Now go back to your homes and watch television."



posted on Sep, 14 2011 @ 03:53 PM
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I see all of that as a very good sign... It is a good sign that our world's economy fails, and why should it not? Our world had been shaped really bad due to our current egocentric, greedy and unfair monetary system, which people sometimes can force power in order to have more money... I fully support a new monetary system that will replace the old one. The one that we came to know (And respect, fear, etc) is not the best of what we've come to yet.



posted on Sep, 14 2011 @ 04:03 PM
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reply to post by Vitchilo
 


didn't even read the op after just got done watching Inside Job on dish.. LOL .. The Inside Job

WOW !!! and the shell game is still afoot .. and targeted France.. very interesting !!!



posted on Sep, 14 2011 @ 04:22 PM
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The problem with this is, if people go ballistic and fight each other, TPTB will profit from the morons shooting, and killing each other from wars and famine.

If the masses don't comprehend now, just because they over-react and become emotional doesn't mean they have woken up, just means they had a knee-jerk reaction to a situation.



Originally posted by zarp3333
I could not be more happy. When people stop getting their welfare, pensions, govt paychecks, etc they will go ballistic and wake up to the fact that a handful of financial institutions are behind this whole racket.




posted on Sep, 14 2011 @ 04:37 PM
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OK, Doesnt anyone at all wonder where all the money in all these countries has gone? It's not just the USA, all countries seem to be missing massive amts of cash?? Where is it going?



posted on Sep, 14 2011 @ 04:41 PM
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reply to post by SweetT
 


To my simple little mind it's like this.....mortgages were given to people that lived on the edge of the economic cliff, gas prices trippled and shoved them over the cliff by increasing the price of all energy and material goods....that should about sum up most of the world's economic problems.

Rich



posted on Sep, 14 2011 @ 04:47 PM
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Actually the latest news today, Wed., appears rather good...

"The euro rose against the majority of its most-traded counterparts after French President Nicolas Sarkozy and German Chancellor Angela Merkel said Greece should remain in the union, damping concerns of turmoil in the region.

The 17-nation currency extended its gains against the dollar after Greece reaffirmed commitment to its budget plan following a conference call among the leaders of Germany, France and Greece. The yen approached a post-World War II record against the dollar after U.S. retail sales unexpectedly stagnated in August, increasing concern the nation’s economic recovery is faltering.

“Sarkozy and Merkel are saying they’re convinced that Greece should remain in the euro zone and that’s giving it some support,” said John Doyle, a strategist in Washington at currency-trading firm Tempus Consulting Inc. “Greece reiterating that they’re determined to meet their budget plan is a good thing. They’re just words at this point, but that’s why we’re seeing the euro pop against the dollar.”

The euro rose 0.6 percent to $1.3755 at 5 p.m. in New York..." [found on Bloomberg]



posted on Sep, 14 2011 @ 04:54 PM
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Originally posted by eagledriver
The next two weeks will tell us a lot about how this will unfold.

Note: If the fed prints money to bail out Greece, that will kill us too with high inflation and eventually anachary. We are screwed either way. Thanks to Obama for $10 trillion of waste and a polarized US! It seems he is a Chinese puppet?! Is that why he bowed to the Chinese President during his visit there?[


Now let's not blame the poor Prez. The Presidents didn't have anything to do with this. If you want to cast blame you can start with Alan Greenspan, but even he has his masters.



posted on Sep, 14 2011 @ 04:55 PM
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Originally posted by Oouthere
reply to post by SweetT
 


To my simple little mind it's like this.....mortgages were given to people that lived on the edge of the economic cliff, gas prices trippled and shoved them over the cliff by increasing the price of all energy and material goods....that should about sum up most of the world's economic problems.

Rich


LOL, well that explanation works as well as any I have heard..



posted on Sep, 14 2011 @ 05:09 PM
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i see some people saying this could lead to the creation of a single global currency.
how when the single euro currency is in such dire straits, it looking like it is bound to fail sooner or later, can a single global currency work?

just looking for an explanation, im no economist



posted on Sep, 14 2011 @ 05:13 PM
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Originally posted by Raskadawg
i see some people saying this could lead to the creation of a single global currency.
how when the single euro currency is in such dire straits, it looking like it is bound to fail sooner or later, can a single global currency work?

just looking for an explanation, im no economist


I think if all economies crash at around the same time, then YES you could pull it off...but that would have to be a very big and concerted effort..HMMMM.....LOL Oh wait..



posted on Sep, 14 2011 @ 05:19 PM
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Ah, End of Europe, nice! I live in Europe. I will stay close to my computer so I can post it on Twitter when it happens.



posted on Sep, 14 2011 @ 05:25 PM
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The terms is PIGS, not sure why you have used PIIGS.

Pigs refer specifically to Portugal, Italy, Greece and Spain which are all the mediterranean, or poor south countries, which is why France is not included. The acronym is referring to the predominance of PIG in their diets with prosciutto di parma, serano jambon, etc. These countries are considered the "South" of Europe, referring to the international relations terms for the poorer sections of the planet as the south. There has always been a strong push for a southern currency and a northern currency in the Euro to reflect the north and south (this is not just a geo graphical term).

Including Ireland or Iceland or anything in that term is nonsensical.



posted on Sep, 14 2011 @ 06:10 PM
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reply to post by SeekerofTruth101
 


Too late. Most of QE2 went to Europe.


80 million angry Germans? I'd like to see that.



posted on Sep, 14 2011 @ 07:54 PM
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Originally posted by Aristophrenia
The terms is PIGS, not sure why you have used PIIGS.

Pigs refer specifically to Portugal, Italy, Greece and Spain which are all the mediterranean, or poor south countries, which is why France is not included. The acronym is referring to the predominance of PIG in their diets with prosciutto di parma, serano jambon, etc. These countries are considered the "South" of Europe, referring to the international relations terms for the poorer sections of the planet as the south. There has always been a strong push for a southern currency and a northern currency in the Euro to reflect the north and south (this is not just a geo graphical term).

Including Ireland or Iceland or anything in that term is nonsensical.


PIIGS is referring to them on an economic basis and that unfortunately their initials can be formed into the word PIIGS, not a more-bigoted basis because they eat pork.
Some muckety-mucks from other countries probably came up with the acronym...some by-the-way who probably eat snails, goose liver, quail's eggs, haggis, steak-and-kidney pie, and other sorts of nasty tripe (pun). Give me a porkchop sandwich with a side of bacon any day.

It's Portugal, Ireland, Italy, Greece, and Spain.



posted on Sep, 14 2011 @ 08:18 PM
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reply to post by Raskadawg
 


I don't think we will see a global currency for a long time, maybe near the end of this century but not before. Within the next 10 years though i have no doubt there will be a new global reserve currency that will replace the dollar and is not tied to any one country, but instead made up of many. I don't think it will be SDRs and through the IMF though like some people have said, since it is pretty much a tool of the west...and with power shifting to the east i can't see it being around in its current form much longer.
edit on 14-9-2011 by Solomons because: (no reason given)



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