yoshiwara Posted May 30, 2012 Share Posted May 30, 2012 'but the entry price must be surrender of fiscal sovereignty.' Do you think Hollande will agree .... London, France's sixth biggest city http://www.bbc.co.uk...gazine-18234930 Unlikely no, but they may try a workaround. Link to comment Share on other sites More sharing options...
churchill Posted May 30, 2012 Share Posted May 30, 2012 A Fudge ... Haven't the markets ... public had enough .... I don't think either will stand for pretend and extend .......... Link to comment Share on other sites More sharing options...
yoshiwara Posted May 30, 2012 Share Posted May 30, 2012 A Fudge ... Haven't the markets ... public had enough .... I don't think either will stand for pretend and extend .......... Oh ye of little faith. Maybe. The public? They are not the deciders. The market and the bond vigilantes take precedence. Link to comment Share on other sites More sharing options...
Naam Posted May 30, 2012 Share Posted May 30, 2012 'but the entry price must be surrender of fiscal sovereignty.' Do you think Hollande will agree .... Hollande and Merkel can go for it. if they start tomorrow a fiscal union might exist in let's say... five, six or more years. Link to comment Share on other sites More sharing options...
churchill Posted May 30, 2012 Share Posted May 30, 2012 Unbelievable ...Now Baroso says ... !! José Manuel Barroso, the president of the European Commission, called Tuesday for a concrete plan to increase European integration as a means to reassure investors, who have sent the euro sliding toward its lowest levels in two years. “It is very important, even if you believe that it doesn’t come immediately, to define the trend, the objective,” Mr. Barroso said Tuesday in Brussels. “It is also very important in terms of confidence for the investment in the euro area now,” he said. “We will support an ambitious and structural approach which should include a road map and a timetable for a full economic and monetary union in the euro area.” http://www.nytimes.com/2012/05/30/world/europe/european-official-calls-for-an-economic-road-map.html Really we should give up on the Euro .. there is no chance .. what has Barroso being doing for the last 5 years , why doesn't he do what he says .. now to be calling for a road map....... again ........ Link to comment Share on other sites More sharing options...
midas Posted May 30, 2012 Share Posted May 30, 2012 (edited) Unbelievable ...Now Baroso says ... !! José Manuel Barroso, the president of the European Commission, called Tuesday for a concrete plan to increase European integration as a means to reassure investors, who have sent the euro sliding toward its lowest levels in two years. “It is very important, even if you believe that it doesn’t come immediately, to define the trend, the objective,” Mr. Barroso said Tuesday in Brussels. “It is also very important in terms of confidence for the investment in the euro area now,” he said. “We will support an ambitious and structural approach which should include a road map and a timetable for a full economic and monetary union in the euro area.” http://www.nytimes.c...c-road-map.html Really we should give up on the Euro .. there is no chance .. what has Barroso being doing for the last 5 years , why doesn't he do what he says .. now to be calling for a road map....... again ........ you can understand why NigelFarage gets hot under the collar with this guy comes with too much Portugal wine.... be careful Naam or you will end up like him Edited May 30, 2012 by midas Link to comment Share on other sites More sharing options...
yoshiwara Posted May 30, 2012 Share Posted May 30, 2012 Unbelievable ...Now Baroso says ... !! José Manuel Barroso, the president of the European Commission, called Tuesday for a concrete plan to increase European integration as a means to reassure investors, who have sent the euro sliding toward its lowest levels in two years. “It is very important, even if you believe that it doesn’t come immediately, to define the trend, the objective,” Mr. Barroso said Tuesday in Brussels. “It is also very important in terms of confidence for the investment in the euro area now,” he said. “We will support an ambitious and structural approach which should include a road map and a timetable for a full economic and monetary union in the euro area.” http://www.nytimes.c...c-road-map.html Really we should give up on the Euro .. there is no chance .. what has Barroso being doing for the last 5 years , why doesn't he do what he says .. now to be calling for a road map....... again ........ you can understand why NigelFarage gets hot under the collar with this guy comes with too much Portugal wine.... be careful Naam or you will end up like him Gout? Link to comment Share on other sites More sharing options...
churchill Posted May 31, 2012 Share Posted May 31, 2012 Greece won't so time for Germany to leave ... Could Germany save eurozone by leaving it? http://www.cnn.com/2012/05/30/opinion/prestowitz-prout-germany-eurozone/index.html Link to comment Share on other sites More sharing options...
Naam Posted May 31, 2012 Share Posted May 31, 2012 Could Germany save eurozone by leaving it? personally i'd like that very much! Link to comment Share on other sites More sharing options...
midas Posted May 31, 2012 Share Posted May 31, 2012 people like Christine Lagarde live completely in their own world you would think this stupid woman would have kept her mouth shut about Greece not paying taxes keeping in mind her own situation Christine Lagarde, scourge of tax evaders, pays no tax " her salary of $467,940 (£298,675) a year plus $83,760 additional allowance a year is not subject to any taxes Lagarde, 56, receives a pay and benefits package worth more than American president Barack Obama earns from the United States government, and he pays taxes on it." http://www.guardian.co.uk/business/2012/may/29/christine-lagarde-pays-no-tax Link to comment Share on other sites More sharing options...
Naam Posted May 31, 2012 Share Posted May 31, 2012 people like Christine Lagarde live completely in their own world you would think this stupid woman would have kept her mouth shut about Greece not paying taxes keeping in mind her own situation Christine Lagarde, scourge of tax evaders, pays no tax " her salary of $467,940 (£298,675) a year plus $83,760 additional allowance a year is not subject to any taxes Lagarde, 56, receives a pay and benefits package worth more than American president Barack Obama earns from the United States government, and he pays taxes on it." http://www.guardian....rde-pays-no-tax i wouldn't call a woman who makes that kind of money "stupid" based on various postings in Thaivisa i conclude she must be hi-so Thai-Chinese Link to comment Share on other sites More sharing options...
yoshiwara Posted May 31, 2012 Share Posted May 31, 2012 (edited) people like Christine Lagarde live completely in their own world you would think this stupid woman would have kept her mouth shut about Greece not paying taxes keeping in mind her own situation Christine Lagarde, scourge of tax evaders, pays no tax " her salary of $467,940 (£298,675) a year plus $83,760 additional allowance a year is not subject to any taxes Lagarde, 56, receives a pay and benefits package worth more than American president Barack Obama earns from the United States government, and he pays taxes on it." http://www.guardian....rde-pays-no-tax i wouldn't call a woman who makes that kind of money "stupid" based on various postings in Thaivisa i conclude she must be hi-so Thai-Chinese I thought her comment excellent. her message was 'We've got your number and don't assume business as usual' ie you cheat and we bail you out. A shot across the bows. Not a vast salary for such a position. Political leaders usually get paid less than financial leaders. Edited May 31, 2012 by yoshiwara Link to comment Share on other sites More sharing options...
churchill Posted May 31, 2012 Share Posted May 31, 2012 people like Christine Lagarde live completely in their own world you would think this stupid woman would have kept her mouth shut about Greece not paying taxes keeping in mind her own situation Christine Lagarde, scourge of tax evaders, pays no tax " her salary of $467,940 (£298,675) a year plus $83,760 additional allowance a year is not subject to any taxes Lagarde, 56, receives a pay and benefits package worth more than American president Barack Obama earns from the United States government, and he pays taxes on it." http://www.guardian....rde-pays-no-tax i wouldn't call a woman who makes that kind of money "stupid" based on various postings in Thaivisa i conclude she must be hi-so Thai-Chinese I thought her comment excellent. her message was 'We've got your number and don't assume business as usual' ie you cheat and we bail you out. A shot across the bows. Not a vast salary for such a position. Political leaders usually get paid less than financial leaders. In the present climate don't you think both financial and political leaders are overpaid ... When times are good OK pay .. but not now . When I worked in London I was earning nearly as much as Blair .. which seemed crazy to me .. either he was underpaid or I was overpaid . But then situations were very different . Link to comment Share on other sites More sharing options...
midas Posted May 31, 2012 Share Posted May 31, 2012 (edited) people like Christine Lagarde live completely in their own world you would think this stupid woman would have kept her mouth shut about Greece not paying taxes keeping in mind her own situation Christine Lagarde, scourge of tax evaders, pays no tax " her salary of $467,940 (£298,675) a year plus $83,760 additional allowance a year is not subject to any taxes Lagarde, 56, receives a pay and benefits package worth more than American president Barack Obama earns from the United States government, and he pays taxes on it." http://www.guardian....rde-pays-no-tax i wouldn't call a woman who makes that kind of money "stupid" based on various postings in Thaivisa i conclude she must be hi-so Thai-Chinese I thought her comment excellent. her message was 'We've got your number and don't assume business as usual' ie you cheat and we bail you out. A shot across the bows. Not a vast salary for such a position. Political leaders usually get paid less than financial leaders. you cant be serious sticking up for this woman and this dreadful organisation ? These people are leeches on society At 3.23 Gerald Celente calls it the International Mafia Federation and i agree [media=] [/media] Edited May 31, 2012 by midas Link to comment Share on other sites More sharing options...
yoshiwara Posted May 31, 2012 Share Posted May 31, 2012 people like Christine Lagarde live completely in their own world you would think this stupid woman would have kept her mouth shut about Greece not paying taxes keeping in mind her own situation Christine Lagarde, scourge of tax evaders, pays no tax " her salary of $467,940 (£298,675) a year plus $83,760 additional allowance a year is not subject to any taxes Lagarde, 56, receives a pay and benefits package worth more than American president Barack Obama earns from the United States government, and he pays taxes on it." http://www.guardian....rde-pays-no-tax i wouldn't call a woman who makes that kind of money "stupid" based on various postings in Thaivisa i conclude she must be hi-so Thai-Chinese I thought her comment excellent. her message was 'We've got your number and don't assume business as usual' ie you cheat and we bail you out. A shot across the bows. Not a vast salary for such a position. Political leaders usually get paid less than financial leaders. you cant be serious sticking up for this woman and this dreadful organisation ? These people are leeches on society In the last US Presidential election I considered having carnal relations with Sarah Palin. So where would you like to go from here? Link to comment Share on other sites More sharing options...
churchill Posted May 31, 2012 Share Posted May 31, 2012 They are in the shit .. Greece: stuck between Iran and Glencore http://ftalphaville.ft.com/blog/2012/05/30/1023031/greece-stuck-between-iran-and-glencore/?ftcamp=crm/email/2012531/nbe/AlphavilleNewYork/product Link to comment Share on other sites More sharing options...
Naam Posted May 31, 2012 Share Posted May 31, 2012 They are in the shit .. tell us something we don't know Prime Minister. Link to comment Share on other sites More sharing options...
churchill Posted May 31, 2012 Share Posted May 31, 2012 They are in the shit .. tell us something we don't know Prime Minister. 'They are in the shit ..' So they have to stay in the Euro so Germany ....pays for the shit .. Link to comment Share on other sites More sharing options...
Naam Posted May 31, 2012 Share Posted May 31, 2012 In the last US Presidential election I considered having carnal relations with Sarah Palin. So where would you like to go from here? Palin's tits and derrière are exquisite... i dare say. that she is dumb like mountain goat <deleted> should not be considered a hurdle Link to comment Share on other sites More sharing options...
Naam Posted May 31, 2012 Share Posted May 31, 2012 They are in the shit .. tell us something we don't know Prime Minister. 'They are in the shit ..' So they have to stay in the Euro so Germany ....pays for the shit .. that might be the case but not from my tax €URos Link to comment Share on other sites More sharing options...
midas Posted May 31, 2012 Share Posted May 31, 2012 Already last December it filtered out that the Swiss government was preparing for a collapse of the euro. Finance Minister Eveline Widmer-Schlumpf told parliament back then that a task force was studying the imposition of capital controls and negative interest rates to protect Switzerland from the capital flight that a euro collapse would engender. A tidal wave of euros would drive up the Swiss franc, devastate Switzerland’s export economy, and devalue its vast wealth invested in other countries. ( and no laughing dogs or monkeys please )!!! http://www.handelsblatt.com/finanzen/rohstoffe-devisen/devisen/worst-case-planung-schweiz-bereitet-sich-auf-euro-kollaps-vor/5934962.html Link to comment Share on other sites More sharing options...
churchill Posted May 31, 2012 Share Posted May 31, 2012 All we need .. 'zerohedge @zerohedge Van Rompuy Says EU Ready to Use Trade Enforcement Mechanisms' as ECB, EU officials warn euro's survival at risk http://www.reuters.com/article/2012/05/31/uk-eurozone-idUKBRE84U0JZ20120531 Nothing like talking down ones currency ... Link to comment Share on other sites More sharing options...
12DrinkMore Posted May 31, 2012 Author Share Posted May 31, 2012 Already last December it filtered out that the Swiss government was preparing for a collapse of the euro. Finance Minister Eveline Widmer-Schlumpf told parliament back then that a task force was studying the imposition of capital controls and negative interest rates to protect Switzerland from the capital flight that a euro collapse would engender. A tidal wave of euros would drive up the Swiss franc, devastate Switzerland’s export economy, and devalue its vast wealth invested in other countries. ( and no laughing dogs or monkeys please )!!! http://www.handelsbl...or/5934962.html Respekt, habe wohl nie geahnt, dass Du die deutsche Sprache beherrschst. Link to comment Share on other sites More sharing options...
12DrinkMore Posted May 31, 2012 Author Share Posted May 31, 2012 (edited) ECB, EU officials warn euro's survival at risk http://www.reuters.c...E84U0JZ20120531 Nothing like talking down ones currency ... ECB President Mario Draghi urged Europe's leaders to clarify their vision for the single currency quickly, warning the European Parliament that the central bank could not fill the policy vacuum."We will avoid bank runs from solvent banks. Depositors' money will be protected if we build this European guaranteed deposit fund. This will assure that depositors will be protected," Draghi said, calling for an EU-wide banking supervision and resolution system. Hey there Mario! How's tricks? Can you send us a list of solvent banks? Er, sorry, can't quite hear you, must be a bad internet connection! Come on then, name just one, and speak up a bit. Edited May 31, 2012 by 12DrinkMore Link to comment Share on other sites More sharing options...
midas Posted May 31, 2012 Share Posted May 31, 2012 i think i will have this wall mounted for posterity " "As 30y German Bund yields slide below 2% and rapidly converge towards Japanese rates, we have a taster of what is to come in the US and UK in the months ahead. We still see US 10y yields – even now making new all-time lows – falling below 1% as hard landings occur in China and the US. The secular equity valuation bear market began in 2000 and renewed global recession will be the trigger to catalyse the third and hopefully final, gut-wrenching phase of valuation de-rating. Expect the S&P500 to decline decisively below its March 2009, 666 intraday low. All hope will be crushed." We have long said that excess "hope" remained a major impediment to the end of this equity bear market and we believe there is still too much of it about. There won’t be by the time this is over. Investors will lose all hope, most particularly in their belief that policy makers have any idea what they are doing. We saw the same in Japan. As the investors now see the full-frontal naked impotence of their last two supposed saviours 1) the China growth story and 2) the Fed, there will be savage market retribution. In the words of George W Bush, "This sucker’s going down". http://www.zerohedge.com/news/albert-edwards-has-some-words-discouragement-welcome-sp-500-hell Link to comment Share on other sites More sharing options...
yoshiwara Posted May 31, 2012 Share Posted May 31, 2012 i think i will have this wall mounted for posterity How vulgar. Something more your style would be: Link to comment Share on other sites More sharing options...
Naam Posted June 1, 2012 Share Posted June 1, 2012 Already last December it filtered out that the Swiss government was preparing for a collapse of the euro. Finance Minister Eveline Widmer-Schlumpf told parliament back then that a task force was studying the imposition of capital controls and negative interest rates to protect Switzerland from the capital flight that a euro collapse would engender. A tidal wave of euros would drive up the Swiss franc, devastate Switzerland’s export economy, and devalue its vast wealth invested in other countries. ( and no laughing dogs or monkeys please )!!! http://www.handelsbl...or/5934962.html what part of Mme Widmer-Schlumpf telling the Swiss parliament about a potential capital flight (mainly) from €-Land into Switzerland is it you don't understand? isn't the expression negative interest rates self-explanatory? the SNB (Swiss National Bank) has been successful in fighting inflow of cash and therefore unwanted appreciation of CHF by announcing it will "helicopterise" any amount of CHF into forex markets to defend the set floor of EURCHF 1.20 should €-land or the currency € crumble then the announcement is as valid as the threat to shoot somebody with an unloaded gun and not even a concerted action of the major central banks could stop a CHF appreciation. a combination of capital controls and negative interest rates might be the only thing that works. negative interest alone did not work in the 1970s when Switzerland tried to stop CHF appreciation vs. various European currencies Link to comment Share on other sites More sharing options...
yoshiwara Posted June 1, 2012 Share Posted June 1, 2012 (edited) Like those who hold gold, holders of Swiss francs have discovered much to their irritation, that they are in a place of risk and not predictable safety in the current Euro crisis. Both have been brutalised the last 9 months. The trouble with jumping at this moment in time into either is that one is directly betting on the directional outcome of movement in the Euro or the post-Euro currency environment. The mistake which some (but gold bugs in particular) make is that they think such a situation should be all about the avoidance of risk. When the story doesn't follow the script they are holding anger and denial are the typical responses. Change the script. The name of the game is not the avoidance of risk but the management of risk. Since I don't know how far down the Euro will go, do I really want CHF now? Not really. On the other hand if EUR:USD settled at 1:1 some Hong Kongers might do what they have been doing in London since the pound dropped over 20%. Look at property brochures. Hard assets with income. It has already started in Germany. I believe the SNB will hold the line. If I want the USD currency hedge later this year then SGD not CHF. Edited June 1, 2012 by yoshiwara Link to comment Share on other sites More sharing options...
midas Posted June 1, 2012 Share Posted June 1, 2012 (edited) i have to ask this question because although i have written options in the past ,i dont know anything about the derivatives they are talking about here " The problem is not Government debt per se. The real problem is that the $70 trillion in G10 debt is the collateral for $700 trillion in derivatives… That equates to 1200% of Global GDP and it rests on very, very weak foundations ". This threat from derivatives has been mentioned since the beginning of this thread but don't these derivatives have expiry dates ? I mean how can they continue to be threat since 2008 and when will they expire? http://www.zerohedge...esentation-ever Edited June 1, 2012 by midas Link to comment Share on other sites More sharing options...
midas Posted June 1, 2012 Share Posted June 1, 2012 i think i will have this wall mounted for posterity How vulgar. Something more your style would be: yes exactly - $120 million ha ha ha ! When this happens i wonder how many bottles of water, guns and tins of food you will get for it then ? Link to comment Share on other sites More sharing options...
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