Quotes from article Furthermore, global confidence in the US-dollar has progressively eroded as the US has gone from being the world's biggest creditor nation to its biggest debtor. The recent downgrading of the US Treasury's debt to A+ by China's rating agency is a watershed event signaling the inexorable decline of the US-dollar as the world's reserve currency. America's industrial base has withered away, and the US is now a food stamp nation - with almost 46-million of its citizens receiving food stamps, equaling 15% of the US-population. A US-family of four can receive $668 /month for food stamps that cost US-taxpayers about $68-billion /year. The alternative, without food stamps, would be riots in the streets across America, similar to what we've seen in Cairo and London this year. Furthermore, one in four Americans receives a check from the US-government each month, and half of its citizens pay no federal income tax at all, while the US's national debt is scheduled to increase by $2-trillion over the next 18-months to $16.3-trillion, equaling about 110% of its GDP. ...................................... n particular, traders are worried about the exposure of French banks to Greek, Italian, and Spanish debt. French banks own 410-billion of Italian debt, making them the most exposed banks in Europe to the debt crisis in southern Europe. With French banks alone holding more of their debts than the entire 440-billion European Financial Stabilization Fund (EFSF) originally designed to bailout Greece, Ireland, and Portugal, a default by either Italy or Spain would likely bankrupt the French financial system. Under these conditions, French financiers and politicians are insisting that the ECB print Euros to buy Italian and Spanish bonds. The Euro-Stoxx Banking index has tumbled by -38% in the past six months,led by Britain's Barclays, Germany's Commerzbank, and the top French banks. Overall, the Euro-Stoxx banking Index is -75% below its peak value in 2007. Socit Gnrale's share price has lost -45% over the past 2- -weeks, BNP's share price has plunged -29%, and Credit Agricole has lost -38-percent. Seeking a safe haven from the perceived risk of Euro-zone banks, many Europeans investors are plowing their safe money into both German Bunds and Gold. In a virtuous cycle, as the German Bund's yield drops further below the Euro-zone's inflation rate, it makes Gold an increasingly more attractive alternative. ................................................... China's M2 money supply has increased +70% over the past three-years, expanding at an annualized +23%, far exceeding the +9.5% annual growth rate of the Chinese economy. Consumer inflation is reportedly +6.5% higher from a year ago, but China's citizens say the true rate of inflation is higher than what the government is reporting. Beijing has lifted the 1-year bank deposit rate 125-basis points higher to 3.50%, but that's still -3% less than the so-called official inflation rate of +6.5%. Therefore, the frenzy for gold has prompted the Chinese central bank to step up sales of gold Panda Coins,to 500,000 1-ounce gold coins, or +66% more than its earlier target of 300,000. It also tripled sales targets for half-ounce, quarter-ounce, 1/10-ounce and 1/20-ounce gold coins to 600,000 each from 200,000 earlier. http://www.kitco.com/ind/dorsch/aug232011.html
.. in other news, due to increasing rent, cats and dogs have started to live together, signalling the end of days.
I simply cannot see any worth while turnaround in any of that, on the contrary i see it getting worse by the day. SOMETHING will trigger the final collapse, and I do not know what it will be, though i am inclined to think it will be in Europe. The suggestion that Australia is going to somehow emerge from the rubble unscathed is insane! JMO OC
The latest UK PRESS: A more severe crash than the one triggered by the collapse of ... 25. August 2011 14:26:27 UK PRESS: A more severe crash than the one triggered by the collapse of Lehman Brothers could be on the way, according to alarm signals in the credit markets, the Telegraph reports. Insurance on the debt of several major European banks has now hit historic levels, higher even than those recorded during financial crisis caused by the US financial group's implosion nearly three years ago, the paper says. EUROPE: German President Christian Wulff has accused the European ... 25. August 2011 14:29:18 EUROPE: German President Christian Wulff has accused the European Central Bank of violating its treaty mandate with the mass purchase of southern European bonds, the Telegraph reports. In a cannon shot across Europe's bows, he warned that Germany is reaching bailout exhaustion and cannot allow its own democracy to be undermined by EU mayhem, the paper says.
and to seperate the European situation/solution from the US is impossible. This following article from today goes to show the pressure put on the Europeans by the IMF which limits the Europeans coming up with their own solutions to their soverign debt crisis independant of "outside" interferance. http://www.bloomberg.com/news/2011-...mpromise-as-imf-becomes-latest-detractor.html
And more... Swiss National Bank Pledges Unlimited Currency Purchases to Weaken Franc http://www.bloomberg.com/news/2011-...m-exchange-rate-of-1-20-against-the-euro.html The Swiss have made an interesting move, doesn't look good for the French I'm thinking
Quote from article 9 sept he US Dow Jones index ended 2.7% down, after a dismal showing in Europe, where Frankfurt's Dax fell 4% and the FTSE 100 2.4%. This was despite President Barack Obama's new $450bn (282bn) jobs plan. The resignation of the European Central Bank chief economist also rattled investors. Reports suggest that Juergen Stark's departure was over disagreements about the central bank purchasing the debt of struggling eurozone economies ................................... Bank stocks were among the major decliners on Friday as investors continue to worry about their exposure to bad debt. The rate that banks lend to each other - a measure of the confidence they have in each other's balance sheets - is at the highest it has been since July 2009. In the UK, Barclays dropped 9.4% and Royal Bank of Scotland declined by 5.4% Deutsche Bank fell 7%. France's Societe Generale fell 10.6% lower and Credit Agricole dropped 7.8%. http://www.bbc.co.uk/news/business-14852010
Quote The reason Gold rallied back and touched the old highs and then some was due to the German Court pending decision regarding the constitutionality of backing the Eurozone countries with bailout funds. Today we had a positive decision by the court denying claims that the bailouts were unconstitutional. Had the German Court ruled the other way, we would have seen Gold spike to $2000 and the SP 500 and European Bourses tank hard. http://www.kitco.com/ind/Banister/sep072011.html
http://en.wikipedia.org/wiki/Fluoridation_by_country#Egypt Egypt does not fluoridate water, although a pilot study commenced in Alexandria. "as crowds of hundreds tore down an embassy security wall with sledgehammers and their bare hands or after nightfall when about 30 protesters stormed into the Nile-side high-rise building where the embassy is located" see what happens when you don't fluoridate the water supply ...
Good luck with the bailouts Germany, buy if the Greeks refuse to do more austerity measures hopefully the German tax payers will do it for them as well to save the French banks.
We can safely call this the "Living Dead Rules" 13. September 2011 14:14:40 US PRESS: Foreign banks with a small U.S. presence are pushing for exemption from new rules that would require them to submit "living wills" to U.S. regulators outlining how they would be liquidated in the event of a failure, the WSJ says.
The Greek 1 Year Bond Yield is 111.7% now, so Merkel warned everyone to keep their mouths shut for fear of more uncertainty in financial markets and an "uncontrolled insolvency" in Greece.
Your children will some day be telling their grandchildren about the second great depression. When all the kings horses and all the kings men could not put the world's fiat currencies back together again. In the next six weeks your going to see bank failures world wide and asset prices collapse to silly levels. If you have gold, silver or unecumbered real estate locked away your in the Drivers seat. Kind Regards nonrecourse
Six weeks. Well there you have it. Plenty of good info to get stuck into here. Not sure we will have a global meltdown in 6 weeks. But my statement comes with little research and is just my opinion. Predicting economic events is very difficult - even for those brilliant minds. I'll leave the crystal ball reading to you economists out there in internets land
The problem will be "how much locked away is enough"???? Guess its like saying, how much money is enough to get buy on. Or how rich is rich. As for me, I'm definitely in the middleclass/lower middleclass bracket of our lovely society but I've put a lot of eggs in the one basket in terms of PM. Hopefully that'll position me "favourably" compared to "my betters" who haven't considered PMs as a worthwhile investment should (when) a SHTF scenario arrive.
Hello PrettyPrettyShineyShiney and luckylukeonline; Everything I write is opinion based on my personal investment outlook. The next ten years will show if my investment nous stands up to the blow tourch we are about to face. The reality is we are all on this board because we stack gold and silver. What is right for me doesn't mean its right for you. Property is my bag. I don't go onto the shares site and wring my hands in glee because the sharemarket over the last 3 years has tanked. The key is you have both made a concious investment in bullion. At least you have a plan. At best it may leave you with a nest egg you can then use at the bottom of the depression if I am right. Kind Regards nonrecourse
The National Park Service, administered by the U.S. Department of the Interior, asks us to "Please Do Not Feed the Animals." Their stated reason for the policy is because the animals will grow dependent on handouts and will not learn to take care of themselves. Meanwhile the Food Stamp Program, administered by the U.S. Department of Agriculture, is proud to be distributing the greatest amount of free meals and food stamps ever.
And while we are at it, with much of the focus being on the EU whats happening with good old JP Morgan? Could it be a $9 Billion Loss? That would sought of add another nail in the coffin. http://finance.yahoo.com/news/jpmorgan-trading-loss-may-reach-114414755.html Cheers markcoinoz
