[youtube]http://www.youtube.com/watch?v=42JIMQQClDA[/youtube] [youtube]http://www.youtube.com/watch?v=OBMKKGFEmnU[/youtube] She doesnt like ECB intervening (QE), she doesn't like euro bonds (GERMANY = BANKRUPTCY), she wants to fix it properly ... ON YA MERKEL
How could she not be......This whole thing is jeopordising Germany as well.....And she's smart enough to know it......Good on her!
Germans have memory of a currency collapse and they didn't enjoy it then and they don't think they'd like it now
I hope she can hold her own and not bow down to the pressures of the other nations (probably including the USA) and not authorise her signature on the printing presses of the ECB. It will be interesting to see what happens on DEC 9. Will be a very interesting outcome...
Ye it will be and i'm fricken sick of waiting with all the good news then bad news then good news again.....Ther's a hell of alot at stake ......I was whinging months ago 'why don't Greece just default and admit the truth'...... Good on you Merkel.....stay strong!
Thats right there is a lot, I think either way we will see a downward trend, if they manage to come to an agreement and greece , italy etc take haircuts that should translate to money evaporating from the market cause it means the investors will never get their money (well the amount that was given the hair cut) so i dont know how that will translate to the markets other then down ... BUT i guess you never know ... IF they somehow manage to fix this without a market downward move, even though im betting on a downward market , these guys deserve a pat on the back :lol: If not for being good economists but for being so sly and underhanded that they worked out how to keep market confidence up ! Another Report from the ABC about what may happen in the upcoming days. If they pull a rabbit out of the hat this time , iz gotta see what this rabbit looks like [youtube]http://www.youtube.com/watch?v=FKksQQK5xoA[/youtube]
When you said there is "alot riding on it" was that personal or from a euro staying together point of view :lol: If personal then i kind of understand what you mean :lol:
One could have expected that Merkel might sooner or later be percieved as the 'iron chancellor'. She might give that impression, primarily because of the financial aspects of the foreign policy. Concerning her home policy, she rapidly changes her mind even concerning key aspects of her parties' platform. I think although she knows that no relevant decision can be made without Germany, she is under pressure from most other Euro countries and will at least have to concede to the new role of the ECB. What concerns me a little are the bilateral mystery-monger-meetings between Germany and France. Why aren't they openly discussing their plans together with the other Euro countries....? Stefan Auer made some good points in his interview concerning the discrepancy between what can be achieved with the next "last summit to solve all problems" and the actual roots of the "Euro crisis", namely the different economic strengths. But in the end, we all sit in the same boat: Germany and France have recently been put on the S&P "downgrade watch list" ( http://www.bloomberg.com/news/2011-...ions-on-downgrade-watch-over-debt-crisis.html ) ... At least, it does not get boring
Too many referendums and votes to be undertaken to ratify any 'deal' in the short term. I think they'll hold the Euro together just long enough to save French an German banks and then let it slide slowly but surely into history. In the meantime buy US dollars they'll be on a roll. UNLESS Brussels is ready to install caretaker banksters with the blessing of Germany and France and the other stronger nations, and allow the EU to reform that way - as a sort of two level plutocracy. After all they put banksters in control in Greece and Italy and will do so in Ireland if Ireland votes the wrong way. BTW does anyone else feel slightly ill at the honeymoon style photos of Merkel and Sarkozy in the papers. The interesting thing is the UK circumstance. Considering UK is heading towards debt levels like Greece, the UK politics are fascinating to watch
So the news today is that they have struck another 'new deal'.......But will it pass on thurday/friday??? I can't wait to see the outcome of this one!!!!!!
Thanks for all the posts. I am waiting to hear what Bix says........... What I am reading is that we are all on the front line of current $ war info. Far in front of the day to day masses. None of this stuff is talked about in my work place.............
Yeh it is amazing seeing that almost everyone is oblivious to what is really going on in Europe and US and simply don't understand the potential implications to them. They are still just looking at their little ASX charts picking where to put their money but fail to fathom that the destiny of our market is totally dependent on what is happening on the opposite side of the world. They all seem to think we can't be affected: "China will buy our minerals"....
I have to agree - oblivious. I was just in an English pub and they had the news on with the Euro report - not a murmur from the crowd and the most astonishing comments from the Euro politicians on the news - some of them suggesting the abandoning of democracies to allow Brussels to enact the solutions that the people need - not a murmur, just another pie and chips please. The downgrade by S and P of all the Euro zone pending and no-one gets it at all. Least of all Australia it seems since my friends back home still laugh at my 'world is in dire straits' pronouncements to get to safety with their assets. Leaving aside any potential conspiracy story, the collapse of the Euro will end life as we know it - and it's almost certain that the Euro will collapse. The repercussions will reassemble the world's financial system and you can guarantee that the commoners will be worse off. Merkozy can flutter about all they wish but they still require 17 nations to agree to their plan. The German constitution is only one hurdle and with riots in Greece it's unlikely they'll agree to anything at all. They'll be lucky to keep a democratic government - ooops sorry they've lost that already haven't they?. I actually expect a military coup there once the unrest affects the generals. It seems that Germany has a plan B - that will leave them with their AAA rating and deutschmarks again, but in the interim we are all generally up the creek without even a canoe. China has said that the collapse of Europe will have a major impact on them, and they have at least been preparing since 2008 for straitened times. Unfortunately Oz is putting presents under the christmas tree and expecting China to bring us more presents as well. Doesn't anyone understand that game is done. Europe and USA are not buying stuff from China anymore. China is trying to rush through a consumer society so they don't have massive unemployment and social unrest - the single thing that the leaders there fear. To see just what this all means look at the gold price. Why isn't it accelerating upward? Because massive deflation is on the horizon with the closure of Europe. Yes there'll be massive inflation later, England is working that three card trick right now, but for the next few years we're looking at a depression unlike anything we've seen since the 1890's. Money is fleeing Europe to the safe haven of - wait for it - the US dollar. Great idea. This is just a storm of disconnected paper swirling around an emptying basin. This is history folks - real history - the sort that the survivors say, glad I missed that chapter.
Great post dude, i have people waiting for rates to drop so they can buy their second property :lol: seriously WTF. The euro issue to them is balls and it doesn't matter. But i guess thats why there are winners, survivors and losers. There are trillions of dollar required to recap the banks in europe for the private sector, then there is the sovereign debt problems in the public (government) sector. The kind of money they need doesn't even really exist even if you combine the whole worlds GDP and if they want to back stop all of it, it literally means we are a few days away from hyperinflation (which i dont think is how it will initially play out). Its like a mine in a minefield within close proximity of each other, when one goes of its gonna take out every other mine in the field one at a time. I got some money on the markets on the short side for the next year, my fear is not if the markets will deflate, my worry is they somehow shut down the exchange and reset the whole thing because it gets that bad, meaning all the money on the exchange just gets wiped clean I mean low likelihood but i feel its going to be that bad ... I guess we will just have to wait and see ...
The debate on the Euro is fairly exhaustive here: http://www.ritholtz.com/blog/2011/12/the-euro-debate-gets-philosophical/ One proposition is that the Germans believe totally in laws and treaties (they had a bad experience with someone who believed laws and treaties were 'just paper') and so they are unbending on the rules being rewritten unilaterally by Brussels. One suggestion is that Germany will leave France to it, but the self centred French politicians will have none of it, since that would be to France's disbenefit. It is evident though that the Bundesbank is calling the shots in this whole fiasco and no-one knows what the Bundesbank really wants - but they surely want something. Personally I think that the DM printing is about done and when it is, the Bundesbank will have Merkel make their apologies and they'll quietly revert to Deutschmarks and then do what steps are necessary to rescue German banks from Euro exposure - leaving Europe nations to make their own way out of the mess. That would of course be a major disaster for the Eurozone and China, but Germany would weather it well. The US would receive trillions in capital flight and there'd be a lot more manic conferences whilst Europe tried to pull its feet out of the bog without losing boots and feet. Then German rules would be enacted and some financial prudence would return to the European Union - or it would disappear. Interestingly neither of the debaters suggest a return to a gold standard to reign in the madness. Worrisome times.
I see Mr Gietner is there as well " again" to offer advice on Thursday, LOL. I wonder if he will be ignored again like last time.
Well that would be the best case scenario for the bears BUT i think the band aid rip would be to painful for countries that this effects , like us and china. I mean im a bear, it would be the best case scenario but it just seems way to painful. Though i see that as more of a possibility then hyperinflation ... (right now anyway)
Few days ago I got info that Germany and France r still keeping there marks /francs from pre euro era in depot, one will ask him self why they didn't destroy it like some other countries....
