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Spain: Domino Number 2?

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posted on Jun, 5 2012 @ 08:42 AM
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And yet again the day begins with even more disturbing news about the financial situation in the European Union.

Spain says markets are closed to it ahead of G7 meeting




Treasury Minister Cristobal Montoro sent out the dramatic distress signal in a radio interview about the impact of his country's banking crisis on government borrowing, saying that at current rates, financial markets were effectively shut to Spain.


As if Greece's economy collapsing wasn't bad enough, Spain is the EU's 4th largest economy. If Germany could not (or would not) bail the Greeks out this last time, is there any chance they would even attempt the same with the Spanish?

First Greece.
Then Spain.
I honestly do not see a 'good way' out of this situation for the EU. If I had to wager, I'd say Ireland or Portugal will be the next economy to collapse.

At this point it might behouve us all to go do some research about the Great Depression, because if things don't start getting drastically better... and soon... we might be in for the roughest times the world has known since World War II.










posted on Jun, 5 2012 @ 09:01 AM
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reply to post by Dreine
 


Yes it does appear that the house of cards is about to come tumbling down. The great experiment gone bad. I'm just pleased Britain stayed out of the Euro, at least we have a chance of riding out the sh*tstorm to come.

Lets face it, the Euro has only been propped up this long to save face. They don't want to admit it was doomed to failure from the start.
edit on 5/6/2012 by Grifter81 because: (no reason given)



posted on Jun, 5 2012 @ 09:04 AM
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reply to post by Grifter81
 


My concern with Britian is what will happen if the UK starts getting flooded with refugees/immigrants from mainland Europe looking for work? The UK is currently in the midst of another recession, and while much more stable and resilient than most of the the other economies in Europe I don't believe it could handle the massive influx of people that may start heading there if France starts to falter.



posted on Jun, 5 2012 @ 09:06 AM
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The dominos are aligned and ready to fall. Greece, then Spain... after that, in no particular order will be Ireland, Italy or Portugal. We're already seeing downgrades in credit throughout the EU.

The ripple effect has already touched China, Russia and the US with decreases in demand for raw materials and manufactured goods.

There is no stopping this! Once the derivatives bubble bursts, it will all come crashing down in a metter of days. truthfully, I'm surprised at how they've been able to hodl this off for so long. That said, we're clearly moving beyond the tipping point.

If you haven't already - STOCK UP! This is about to make the Great Depression look like the Diamond Jubilee.



posted on Jun, 5 2012 @ 09:09 AM
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Originally posted by kozmo
The dominos are aligned and ready to fall. Greece, then Spain... after that, in no particular order will be Ireland, Italy or Portugal. We're already seeing downgrades in credit throughout the EU.

The ripple effect has already touched China, Russia and the US with decreases in demand for raw materials and manufactured goods.

There is no stopping this! Once the derivatives bubble bursts, it will all come crashing down in a metter of days. truthfully, I'm surprised at how they've been able to hodl this off for so long. That said, we're clearly moving beyond the tipping point.

If you haven't already - STOCK UP! This is about to make the Great Depression look like the Diamond Jubilee.


I concur with that assessment. I've began to gather my supplies for my family 'bug out bag' but the more news that comes in the more I think I've waited too long. Thankfully my family has a large amount of land in the countryside with access to fresh water and game, and my parents run a pawn shop so we have access to firearms and other hunting implements.

Might be time for me to check out the survival forums and start getting some knowledge...




posted on Jun, 5 2012 @ 09:13 AM
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Lets hope the whole system comes down. We need to return to our natural enviroment, this materialistic world of greed makes me sick as in literally.



posted on Jun, 5 2012 @ 09:13 AM
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Originally posted by Dreine
reply to post by Grifter81
 


My concern with Britian is what will happen if the UK starts getting flooded with refugees/immigrants from mainland Europe looking for work? The UK is currently in the midst of another recession, and while much more stable and resilient than most of the the other economies in Europe I don't believe it could handle the massive influx of people that may start heading there if France starts to falter.


Europe is fast becoming a dirty word around these parts. Hardly a week goes by without the call for an in-out referendum on Europe. If the influx of migrants started as you say I honestly think the British people wouldn't stand for it.

It would force the governments hand, we will pull out of Europe and close our borders. That is what I see happening, and about time too!



posted on Jun, 5 2012 @ 09:42 AM
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Is Portugal next,
www.telegraph.co.uk...
We (irish) already grabbed our ankles will wearing lipstick and stockings last week, so we`re good `til 2015. Im just hearing on tv behind me that Germany is encouraging spain to borrow!!!, the plot thicken`s.............I will get back with an update.



posted on Jun, 5 2012 @ 09:53 AM
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Yeah things are pretty bad here. I am in the north and we have allot of radicals running around saying all sorts of things. I see blood on the horizon. Every other day there is a rally or a meeting that screams social change. They are getting tired of talking, quick.

We in the north used to have a strong mining culture. Back before the EU, the miners did pretty well for themselves. They rallied and damn near REVOLTED, and got the just compensation they asked for. They have GREAT benefits and early retirement pay, etc. They are all high middle class. Ever since the EU has shut down our mining so as to favor other areas in the union, we have lost these benefits.

So the miners are now shutting down the highways, shooting rockets at riot squads and getting arrested in Madrid for running amuck. The miners from northern Spain have been referred to as terrorists in years past and are sort of revered for social justice. The political leadership is REALLY scared of them. When they go ape, blood is spilled and the country notices. No one F´s with them and their benefits. They have blown isht up and hurt people before. I am scared of them. They are no joke. Like angry apes.

The fact that their retirement funds have been spent and are being spent to me screams desperation. The provincial Government wouldn't spend those funds unless they had no other choice. It is like stealing from a mobster instead of a grocer.

The miners will wreck havoc until their checks keep coming. They have dynamite and balls. I am officially worried.

The worst part is that this is only the beginning. Soon other public funds will be appropriated and spent. That will bring all other groups to the radical table. By this time next year I think my area will be under strict police supervision.

We have a growing communist youth movement that wants to revive the republic. We have neo Nazis and other such extreme Ultra right groups emerging and gaining momentum in every providence.

I can tell you guys right now that Spain will not recover from this financial crisis. The country is in a slow spiral down. France and the rest are in similar situations, they just cook the books better.

The EU will fall. IMO.



edit on 5-6-2012 by BIHOTZ because: (no reason given)



posted on Jun, 5 2012 @ 10:53 AM
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reply to post by Grifter81
 


Britain has been flooding immigrants into the country for years and the people just stand there and take it, I dont see how this will be any different.
Fact of the matter is immigration brings in lots of cheap labour and the government is well aware of it.



edit on 5-6-2012 by SpaceMonkeys because: (no reason given)



posted on Jun, 5 2012 @ 11:03 AM
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Originally posted by kozmo
The dominos are aligned and ready to fall. Greece, then Spain... after that, in no particular order will be Ireland, Italy or Portugal. We're already seeing downgrades in credit throughout the EU.

The ripple effect has already touched China, Russia and the US with decreases in demand for raw materials and manufactured goods.



Was going to mention just these countries actually, in that order. Well except throw in Japan in there around China/Russa.

Welcome to the year of 2013! The year of no currency.
Loaf of Bread $4,320,000,000 USD



posted on Jun, 5 2012 @ 12:46 PM
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reply to post by Dreine
 


Of course Germany will bail them out! That's what these emergency talks are about, setting the "dire" tone for the Euro and Germany's ability to prosper so the German people will support the new gold-for-Eurobonds scheme that was unpalatable to the German people just months ago. Now that Spain's on the block, with all of that sweet sweet gold to be had, and all of its devastating effects it could have on Germany's economy, they will bail it out once or maybe even twice more for the promise of 20% of its gold per bailout when Spain defaults. Then it's game on.



posted on Jun, 5 2012 @ 01:12 PM
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Update on the Spanish situation...

IMF says euro needs master plan, not deadline




Sources say Spain's Prime Minister Mariano Rajoy is pressing for a direct European rescue for the lenders with moral support from the European Commission, but Germany is reluctant. Media reports say Berlin is instead pressing Madrid to request a full bailout.


Looks as if Spain doesn't want the EU "owning" them in the future...
The Spanish PM is reluctant to accept Germany's wishes. Interesting to see that he has reservations about doing as he is told... hope he has had his vehicle's brakes checked recently!

edit on 5-6-2012 by Dreine because: commentary



posted on Jun, 5 2012 @ 01:44 PM
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Originally posted by SpaceMonkeys
reply to post by Grifter81
 


Britain has been flooding immigrants into the country for years and the people just stand there and take it, I dont see how this will be any different.
Fact of the matter is immigration brings in lots of cheap labour and the government is well aware of it.



edit on 5-6-2012 by SpaceMonkeys because: (no reason given)


You are right about the cheap labour aspect of course and I am well aware that the flood gates of immigration have been open for some time. However I sense a change in attitudes lately.

Peoples day to day lives are going to be severely affected by this, it will become a flash point. Immigration has been the bugbear of the silent masses for a while now IMO. As the amount of jobs dwindle and benefits get cut people won't stay silent for long.

Besides, immigration or not, I still think once things get tough we will end up out of the EU. In my opinion it's the only sensible precaution unless we want to find ourselves dragged down with the rest of them.
edit on 5/6/2012 by Grifter81 because: (no reason given)



posted on Jun, 5 2012 @ 07:53 PM
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reply to post by Dreine
 


It seems as thou this experiment that is the Euro is failing. Having said that, what if this is TPTB`s plan? What if the Euro was secretly designed to eventually crush the economies of ``weaker`` Nations, and to weaken the stronger ones. If this is true, it would make sense if you look at the whole Euro zone, with Greece being the first target in this possible grand scheme



posted on Jun, 5 2012 @ 09:09 PM
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No doubt my country (Portugal) will be next.Things here are going downhill with no return.No jobs anywhere and robberies and theft i up 330% . It's caos and now they started doing the same as black mondays in England [url][youtu.be... was a shame

edit on 5-6-2012 by SoulVoid because: (no reason given)

edit on 5-6-2012 by SoulVoid because: (no reason given)



posted on Jun, 5 2012 @ 09:14 PM
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When they all collapse, Germany will reintroduce the Duetchmark backed by Gold....becoming the new reserve currency and owning all of the EU.

Fourth Reich just took over all of Europe economically, not militarily.



posted on Jun, 5 2012 @ 09:20 PM
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Originally posted by Melbourne_Militia
When they all collapse, Germany will reintroduce the Duetchmark backed by Gold....becoming the new reserve currency and owning all of the EU.

Fourth Reich just took over all of Europe economically, not militarily.


Said as much a few days ago. Crafty, Germany, very crafty. Although, let's not go turning this into another Nazi-analogy thread.



posted on Jun, 5 2012 @ 11:42 PM
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Originally posted by Dreine
reply to post by Grifter81
 


My concern with Britian is what will happen if the UK starts getting flooded with refugees/immigrants from mainland Europe looking for work? The UK is currently in the midst of another recession, and while much more stable and resilient than most of the the other economies in Europe I don't believe it could handle the massive influx of people that may start heading there if France starts to falter.


Britain can't take them, but there is one country that can, mine. Australia is trying to build up its population in order to rival China but needs massive amounts of immigrants to do it.



posted on Jun, 5 2012 @ 11:44 PM
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Originally posted by Melbourne_Militia
When they all collapse, Germany will reintroduce the Duetchmark backed by Gold....becoming the new reserve currency and owning all of the EU.

Fourth Reich just took over all of Europe economically, not militarily.


Funnily enough did you know German chancellor Merkel is the daughter of Adlf Hitler?



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