cloudhopper Posted October 7, 2011 Share Posted October 7, 2011 Another touching 'faith in politicians to solve intractable mathematical realities' sighting - Link to comment Share on other sites More sharing options...
flying Posted October 7, 2011 Share Posted October 7, 2011 Another touching 'faith in politicians to solve intractable mathematical realities' sighting - The dominoes are lined up & starting to fall. Link to comment Share on other sites More sharing options...
midas Posted October 7, 2011 Share Posted October 7, 2011 (edited) Extend and pretend ECB printing can drag out the denouement for a good decade at least (as can, by the way, the Fed's printing, the BOJ's printing, etc.) oh no ! OH YES! duplicate post Edited October 7, 2011 by midas Link to comment Share on other sites More sharing options...
midas Posted October 7, 2011 Share Posted October 7, 2011 Another touching 'faith in politicians to solve intractable mathematical realities' sighting - from a decade to three weeks ! Link to comment Share on other sites More sharing options...
midas Posted October 7, 2011 Share Posted October 7, 2011 Here is the first "official" collective statement from the Occupy movement. Nothing about nixing the Federal Reserve, and there never will be. http://current.com/shows/countdown/blog/complete-transcript-for-oct-05-2011 “As we gather together in solidarity to express a feeling of mass injustice we must not lose sight of what brought us together. We write so that all people who feel wronged by the corporate forces of the world can know that we are your allies. As one people, united, we acknowledge the reality that the future of the human race requires the cooperation of its members. That our system must protect our rights, and upon corruption of that system, it is up to the individuals to protect their own rights, and those of their neighbors. That a democratic government derives its just power from the people, but corporations do not seek consent to extract wealth from the people, and the Earth, and that no true democracy is attainable when the process is determined by economic power. We come to you at a time when corporations — which place profit over people, self-interest over justice, and oppression over equality — run our governments. We have peaceably assembled here as is our right to let these facts be known. They have taken our houses through an illegal foreclosure process, despite not having the original mortgage. They have taken bailouts from taxpayers with impunity, and continue to give executives exorbitant bonuses. They have perpetuated inequality and discrimination in workplaces based on age, the color of one’s skin, sex, gender identity, and sexual orientation. They have poisoned the food supply through negligence, and undermined the farming system through monopolization. They don't have to say it directly but if you read all the comments on their website and others like occupy Boston believe me there are enough people that are banging the drum regarding the FED. Anyway banks are also corporations you know and we all know who is pulling their strings............just follow the money Link to comment Share on other sites More sharing options...
midas Posted October 7, 2011 Share Posted October 7, 2011 Fears UK Is In 'Worst Ever' Economic Crisis " Britain could be in the grip of the "most serious financial crisis ever", the governor of the Bank of England has told Sky News. " http://news.sky.com/home/business/article/16084156 Link to comment Share on other sites More sharing options...
flying Posted October 7, 2011 Share Posted October 7, 2011 (edited) from a decade to three weeks ! I have often thought since 2007-2008 we are in fact in a controlled crash. Dead stick to boot. Just descending as controlled as possible. Yet all it would take is for the herd to get spooked & run to one side of the plane...& we are close to that now IMO... Much of the heard has finally woken up & realized what is happening. Then the dead stick controlled descent stalls & snap rolls into the turf. Although Iceland was a smaller model we saw how fast it can go from 0 to 60....or should that be 60 to 0 ?? Edited October 7, 2011 by flying Link to comment Share on other sites More sharing options...
midas Posted October 7, 2011 Share Posted October 7, 2011 (edited) from a decade to three weeks ! I have often thought since 2007-2008 we are in fact in a controlled crash. Dead stick to boot. Just descending as controlled as possible. Yet all it would take is for the herd to get spooked & run to one side of the plane...& we are close to that now IMO... Much of the heard has finally woken up & realized what is happening. Then the dead stick controlled descent stalls & snap rolls into the turf. Although Iceland was a smaller model we saw how fast it can go from 0 to 60....or should that be 60 to 0 ?? So those guys on the BBC video said it needs fast political will to overcome this -But it's not there Germany, France Split on EFSF Bond Purchases, Handelsblatt Says http://www.bloomberg.com/news/2011-10-06/germany-france-split-on-efsf-bond-purchases-handelsblatt-says.html Edited October 7, 2011 by midas Link to comment Share on other sites More sharing options...
flying Posted October 7, 2011 Share Posted October 7, 2011 So those guys on the BBC video said it needs fast political will to overcome this -But it's not there I think it never was...there All the king's horses and all the king's men Couldn't put Humpty the fiat world together again. All this kicking of the can & compounding the problem is coming home to roost. They could have gone the other way....suffered what was due & been on their way to a recovery if the same tactics were not allowed again & again. What was toxic in 2008 remains toxic today. Only the owners for the most part have changed. Those that were rescued compared to those who are now being assassinated with debt. Look back at the depressions in the USA the 1920-1921 depression was let run its course & was over & done with often called the forgotten depression. The 1929 depression the government intervened & it lasted till what 1941? Instead of "fiscal stimulus," Harding cut the government's budget nearly in half between 1920 and 1922. The rest of Harding's approach was equally laissez-faire. Tax rates were slashed for all income groups. The national debt was reduced by one-third. http://mises.org/daily/3788 Link to comment Share on other sites More sharing options...
BlackJack Posted October 7, 2011 Share Posted October 7, 2011 an interesting view on where gold is heading if history repeats let me know if you agree http://www.mineweb.com/mineweb/view/mineweb/en/page33?oid=137048&sn=Detail&pid=92730 Link to comment Share on other sites More sharing options...
ronz28 Posted October 7, 2011 Share Posted October 7, 2011 Fears UK Is In 'Worst Ever' Economic Crisis " Britain could be in the grip of the "most serious financial crisis ever", the governor of the Bank of England has told Sky News. " http://news.sky.com/...rticle/16084156 Could be worse...could be up the crick in Rick Perry's hometown of Paint Creek, TX... http://www.bloomberg.com/video/77135564/ Link to comment Share on other sites More sharing options...
flying Posted October 7, 2011 Share Posted October 7, 2011 an interesting view on where gold is heading if history repeats let me know if you agree Agree Link to comment Share on other sites More sharing options...
phutoie2 Posted October 8, 2011 Share Posted October 8, 2011 Panic stations or a load of baloney?. Cannot believe Nationwide are at risk!. I still have a fair amount of cash (from a house sale) tied up in fixed bonds etc with NW. Retiring over to Thailand I have now just about cut all my ties with UK, maybe time to bring all my remaining assets to Bangkok Bank - in my case. Link to comment Share on other sites More sharing options...
flying Posted October 8, 2011 Share Posted October 8, 2011 Panic stations or a load of baloney?. Cannot believe Nationwide are at risk!. I still have a fair amount of cash (from a house sale) tied up in fixed bonds etc with NW. Retiring over to Thailand I have now just about cut all my ties with UK, maybe time to bring all my remaining assets to Bangkok Bank - in my case. Just curious but.... Does the UK have the equivalent of FDIC insurance? Link to comment Share on other sites More sharing options...
kevkev1888 Posted October 8, 2011 Share Posted October 8, 2011 Panic stations or a load of baloney?. Cannot believe Nationwide are at risk!. I still have a fair amount of cash (from a house sale) tied up in fixed bonds etc with NW. Retiring over to Thailand I have now just about cut all my ties with UK, maybe time to bring all my remaining assets to Bangkok Bank - in my case. Just curious but.... Does the UK have the equivalent of FDIC insurance? Yes Up to £85,000 Link to comment Share on other sites More sharing options...
flying Posted October 8, 2011 Share Posted October 8, 2011 Just curious but.... Does the UK have the equivalent of FDIC insurance? Yes Up to £85,000 Thanks kev That is not much these days but I guess if folks have more in the bank they could use a few account. Link to comment Share on other sites More sharing options...
Naam Posted October 8, 2011 Share Posted October 8, 2011 (edited) Panic stations or a load of baloney?. Cannot believe Nationwide are at risk!. I still have a fair amount of cash (from a house sale) tied up in fixed bonds etc with NW. Retiring over to Thailand I have now just about cut all my ties with UK, maybe time to bring all my remaining assets to Bangkok Bank - in my case. "wisdom" from the Daily Mail: Customers on the high street looking for the safest place to deposit their money face hard decisions too, as trusted names such as the Co-operative, Nationwide and Santander are also downgraded. The wise depositor should now seek to spread their savings as widely as possible and not necessarily just chase the best return... edited for addendum: nowadays any bank can be at risk to collapse if a certain percentage of clients withdraw their savings. Edited October 8, 2011 by Naam Link to comment Share on other sites More sharing options...
cloudhopper Posted October 9, 2011 Share Posted October 9, 2011 Great interview with Australian economist Steve Keene http://maxkeiser.com/2011/10/08/kr194-keiser-report-price-propaganda/ Link to comment Share on other sites More sharing options...
midas Posted October 9, 2011 Share Posted October 9, 2011 Panic stations or a load of baloney?. Cannot believe Nationwide are at risk!. I still have a fair amount of cash (from a house sale) tied up in fixed bonds etc with NW. Retiring over to Thailand I have now just about cut all my ties with UK, maybe time to bring all my remaining assets to Bangkok Bank - in my case. "wisdom" from the Daily Mail: Customers on the high street looking for the safest place to deposit their money face hard decisions too, as trusted names such as the Co-operative, Nationwide and Santander are also downgraded. The wise depositor should now seek to spread their savings as widely as possible and not necessarily just chase the best return... edited for addendum: nowadays any bank can be at risk to collapse if a certain percentage of clients withdraw their savings. case in point Bank of America refuses to let customers close accounts Link to comment Share on other sites More sharing options...
midas Posted October 9, 2011 Share Posted October 9, 2011 Slovak SaS Party Won’t Back EFSF After Compromise Rejected The bailout plan that was proposed in July, and was supposed to be operational by the start of September, has still not been ratified, and now the smallest European country is holding the entire continent, its currency, and frankly the Fed, which will have to step in and bailout Europe, hostage. http://www.businessweek.com/news/2011-10-08/slovak-sas-party-won-t-back-efsf-after-compromise-rejected.html Link to comment Share on other sites More sharing options...
flying Posted October 9, 2011 Share Posted October 9, 2011 Quite good I thought.. Felix Zulauf, Chairman of Zulauf Asset Management, and James Turk, Director of the GoldMoney Foundation, talk about the debt crisis spreading from Greece to the rest of Europe. Link to comment Share on other sites More sharing options...
tonika Posted October 9, 2011 Share Posted October 9, 2011 Is it any wonder when you've lunatics running the asylum. Cameron ( like his predessor Brown ) has already given away Billions in International Aid, since coming to power. In an interview at the Conservative Party Conference in Manchester last week, he says he wants to donate another 3 Billion, and he can justify this. We're giving money to Countries like India ( on the brink of becoming a super power). Not bad, for a Country that's virtually bankrupt. Fears UK Is In 'Worst Ever' Economic Crisis " Britain could be in the grip of the "most serious financial crisis ever", the governor of the Bank of England has told Sky News. " http://news.sky.com/...rticle/16084156 Link to comment Share on other sites More sharing options...
Naam Posted October 9, 2011 Share Posted October 9, 2011 Director of the GoldMoney Foundation = not qualified to talk about gold! Link to comment Share on other sites More sharing options...
flying Posted October 9, 2011 Share Posted October 9, 2011 Director of the GoldMoney Foundation = not qualified to talk about gold! Surprisingly it was Felix Zulauf who did all the talking. I think Turk only asked one gold related question & that was is having gold as part of your portfolio still a good idea. But overall I thought Felix explanation of the Euro & its various problems was pretty good. Also the last 5 minutes or so on Bernanke was good too. Link to comment Share on other sites More sharing options...
Naam Posted October 9, 2011 Share Posted October 9, 2011 Slovak SaS Party Won’t Back EFSF After Compromise Rejected The bailout plan that was proposed in July, and was supposed to be operational by the start of September, has still not been ratified, and now the smallest European country is holding the entire continent, its currency, and frankly the Fed, which will have to step in and bailout Europe, hostage. http://www.businessweek.com/news/2011-10-08/slovak-sas-party-won-t-back-efsf-after-compromise-rejected.html and frankly the Fed, which will have to step in and bailout Europe because the FED received a donation of 3,783 tons of gold-pressed Latinum from the Ferengi Empire which Bernanke plans to trade for Unobtainium supplied by the renowned unobtainable monopolist Flying. a part of the Unobtainium will be injected into Greek soil to enhance the output of olives, Feta chees and Ouzo which in turn will cause not only a balanced budget but a surplus. p.s. sooner or later dwarf states like Slovakia et al will have their balls cut and stuffed down their throats! Link to comment Share on other sites More sharing options...
letitbe Posted October 9, 2011 Share Posted October 9, 2011 Panic stations or a load of baloney?. Cannot believe Nationwide are at risk!. I still have a fair amount of cash (from a house sale) tied up in fixed bonds etc with NW. Retiring over to Thailand I have now just about cut all my ties with UK, maybe time to bring all my remaining assets to Bangkok Bank - in my case. Just curious but.... Does the UK have the equivalent of FDIC insurance? youd me mad IMO to bring it all over here Depending on what you have id say 30% We started selling all our assets in UK and USA around 2002 and by 2006 had around 40% here ( stocks, property land and rest), 30 % in Singapore and some other non western countries and 30% left in UK and USA. We were lucky wit 70-75 baht to GBP but now think Thailand has very significant risks of possible civil war and so have been reducing our exposure here to now around 25-30% and will try and reduce that to 20% or maybe less. I never thought wed be into gold since from 1974 to 2000 is was a totally crap investment dropping in real terms by over 50%. Im now totally convinced places like Nationwide are at risk and anyway totally convinced their is a very high risk of total financial meltdown with huge inflation even if west avoids hyper inflation. I would not touch bonds treasuries and rest with a bargepole. Weve now moved around 10% into PM and just hope were not to late to increase that to 20-30% but I could be wrong. Link to comment Share on other sites More sharing options...
letitbe Posted October 9, 2011 Share Posted October 9, 2011 Panic stations or a load of baloney?. Cannot believe Nationwide are at risk!. I still have a fair amount of cash (from a house sale) tied up in fixed bonds etc with NW. Retiring over to Thailand I have now just about cut all my ties with UK, maybe time to bring all my remaining assets to Bangkok Bank - in my case. Just curious but.... Does the UK have the equivalent of FDIC insurance? FDIC or anything like it is not going to be of any use IMO as western currencies simply go down toilet Link to comment Share on other sites More sharing options...
Jingthing Posted October 9, 2011 Share Posted October 9, 2011 (edited) More sound economic advice. The (right wing) politics now is favoring TIGHTENING to soon, with will cause long term Japanese style stagflation and/or depression. The US can learn from the mistake the British just made. Don't copy them! Read the entire interview with MARTIN WOLF, CHIEF ECONOMICS COMMENTATOR, FINANCIAL TIMES. http://transcripts.cnn.com/TRANSCRIPTS/1110/09/fzgps.01.html ZAKARIA: So let's just unpack (ph) what you said, Martin. You think the government should be doing more to create jobs, building infrastructure, providing tax credits to corporations for investment, and you think the Federal Reserve should be doing more of the kinds of things it's been doing. For example, this latest - this latest bout of further trying to lower interest rates. But, you realize, this is all very unpopular in the United States right now. WOLF: I - I agree. This is an incredibly controversial set of issues. I have personally absolutely no doubt that's what government should be doing. I think we in the west are making the mistake that the Japanese made in about '97, tightening too soon; the mistake that Roosevelt famously made in 1937 in the U.S. Edited October 9, 2011 by Jingthing Link to comment Share on other sites More sharing options...
Pakboong Posted October 10, 2011 Share Posted October 10, 2011 Panic stations or a load of baloney?. Cannot believe Nationwide are at risk!. I still have a fair amount of cash (from a house sale) tied up in fixed bonds etc with NW. Retiring over to Thailand I have now just about cut all my ties with UK, maybe time to bring all my remaining assets to Bangkok Bank - in my case. Just curious but.... Does the UK have the equivalent of FDIC insurance? FDIC or anything like it is not going to be of any use IMO as western currencies simply go down toilet Comforting to know that the big money will be guaranteed by those that have little. I am pretty sure, the FDIC has less than $10 billion in reserves. On November 9, 2010, the FDIC issued a Final Rule implementing section 343 of the Dodd-Frank Wall Street Reform and Consumer Protection Act that provides for unlimited insurance coverage of noninterest-bearing transaction accounts. Beginning December 31, 2010, through December 31, 2012, all noninterest-bearing transaction accounts are fully insured, regardless of the balance of th...e account, at all FDIC-insured institutions. The unlimited insurance coverage is available to all depositors, including consumers, businesses, and government entities. This unlimited insurance coverage is separate from, and in addition to, the insurance coverage provided to a depositor’s other deposit accounts held at an FDIC-insured institution. Link to comment Share on other sites More sharing options...
flying Posted October 10, 2011 Share Posted October 10, 2011 Comforting to know that the big money will be guaranteed by those that have little. I am pretty sure, the FDIC has less than $10 billion in reserves. Yes they have been on the bubble for quite some time now. But if you look at the failed list & the costs.... http://www.fdic.gov/bank/individual/failed/banklist.html Does make one wonder....They seem to have a few alternate wells. Although I know they raised the cost to banks for the FDIC insurance premiums quite a bit last year. At the end of the day though I see it all as band-aids to keep the herd from becoming spooked. Link to comment Share on other sites More sharing options...
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