Global Financial Crisis (13 Viewers)

[IrishZebra]

I think Italy might require some sort of package but they haven't even tried yet to be fair which is dangerous because their ratio is at about 98% Debt to GNP.

Italy and Spain, could, but probably won't. Greece can't and I hope they all sink into poverty.

 

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[Dostoevsky]

They can't, they just can't because that amount is too huge to bail. It's just a political lie if you heard they can. Well no fucking way, just like the US can't fight with their 117 trillion dollars debt.

 

[IrishZebra]

14.7 trillion...

Oh no, I wasn't saying you could bailout Spain or Italy, far from it. But the possibility of some EFSF and ESM funding could in theory help them, it's can't help greece. Basically what I'm saying is, Greece isn't anything resembling an economy while the other two are. They have the tools , I'm not saying they'll use them properly, but the could. National Debt isn't meant to be 0% by the way, 60% is manageable, which AFAIK is well within the available funding. Would kill all market activity for years, but it's there.

They won't though

 

[Dostoevsky]

And I was afraid this would happen.

Officials said the 17 eurozone countries are close to a deal where Greece would offer either shares in state-owned companies or “illiquid” commercial real estate as collateral.

I said it on facebook and I'll say it here as well: Christine Lagarde is a financial terrorist. I still believe IMF is something that has to be destroyed because they are killers. I think this is nothing but a middle-class killing. They are manipulation too easy.

 

[AndreaCristiano]

And I was afraid this would happen.

Officials said the 17 eurozone countries are close to a deal where Greece would offer either shares in state-owned companies or “illiquid” commercial real estate as collateral.

I said it on facebook and I'll say it here as well: Christine Lagarde is a financial terrorist. I still believe IMF is something that has to be destroyed because they are killers. I think this is nothing but a middle-class killing. They are manipulation too easy.

How about the fact that China wants to step in and buy some italian debt , soon they will own the whole world and then we will all be screwed

 

[Dostoevsky]

They actually want to invest in bonds, it's different.

It's a much bigger debt, but lesser interest rate. I think interest rate in Greece is a bit over 16% which is scary, even if debt itself isn't that big.

 

[IrishZebra]

And I was afraid this would happen.

Officials said the 17 eurozone countries are close to a deal where Greece would offer either shares in state-owned companies or “illiquid” commercial real estate as collateral.

I said it on facebook and I'll say it here as well: Christine Lagarde is a financial terrorist. I still believe IMF is something that has to be destroyed because they are killers. I think this is nothing but a middle-class killing. They are manipulation too easy.

I've been saying for ages to set up an EMF to keep it all in house.

IMF plans rarely work, Irish one appears to be going well though.

 

[AndreaCristiano]

They actually want to invest in bonds, it's different.

It's a much bigger debt, but lesser interest rate. I think interest rate in Greece is a bit over 16% which is scary, even if debt itself isn't that big.

Yes well greece expected to live without any revenue, and basically a third of the population working and not incur debt?

 

[Dostoevsky]

IMF plans rarely work, Irish one appears to be going well though.

How? They let you borrow more and more money because you're following their strategy? I personally just see it as a bigger debt that's being hidden behind a positive and biggest financial lie - GDP.

Not rarely but IMF are the biggest thieves.

Not so related but gold and silver are the best investment, still, after 10 years it's the most profitable investment.

 

[IrishZebra]

They're funding us a set amount of money actually along with the EU through bi-lateral loans and we tend to use GNP these days. What do you mean by 'how?' How is it going well? Their end of the bargain was to provide finance, ours was to privatise ~3bn in state assets of our choosing and to cut wages and reduce unemployment. So far we're ahead of schedule on everything but unemployment, because our Government are short-sighted. Here's a few of the latest if you have a minute or two.

http://uk.reuters.com/article/2011/09/14/uk-ireland-eu-idUKTRE78D4B320110914
http://www.independent.ie/business/...ish-unemployment-ndash-economist-2872339.html

10 year yields gone from 14 down to 8
5 years from 18 down to 9

It's foolish to be too positive but it's just evidence that little can change yet there's a 6 point swing regardless.

Silver is a retarded investment because it is based on a lie, that is, they've issued more certs than physical silver exists, it's a bubble. Gold, well, gold will always be a safe enough investment because it is seen as the panic investment, it's safe because the 'market' wants it to be, not due to some magical property it possesses.

 

[Dostoevsky]

They're funding us a set amount of money actually along with the EU through bi-lateral loans and we tend to use GNP these days. What do you mean by 'how?' How is it going well?

By how I just meant the improvements.

Silver is a retarded investment because it is based on a lie, that is, they've issued more certs than physical silver exists, it's a bubble. Gold, well, gold will always be a safe enough investment because it is seen as the panic investment, it's safe because the 'market' wants it to be, not due to some magical property it possesses.

Retarded or not, silvers value increased for 900% over the past 10 years, which is more than gold.

Not just market, gold has to be in the top, especially since the gold standard collapsed.

 

[IrishZebra]

I updated my post with a few articles.

That's a dangerous attitude to have, house prices here in 2005 had risen 300% in 10 years, were they a safe investment?

http://www.guardian.co.uk/commentisfree/2010/dec/02/jp-morgan-silver-short-selling-crash
That's commonplace everywhere, you'd be a fool to go silver.


Gold is a rock, you can't touch it.

 

[AndreaCristiano]

I updated my post with a few articles.

That's a dangerous attitude to have, house prices here in 2005 had risen 300% in 10 years, were they a safe investment?

http://www.guardian.co.uk/commentisfree/2010/dec/02/jp-morgan-silver-short-selling-crash
That's commonplace everywhere, you'd be a fool to go silver.


Gold is a rock, you can't touch it.

Im actually gonna sell my silver and yes gold is untouchable. I believe The US dollar should return to the gold standard and a lot of our problems will adjust just by that

 

[IrishZebra]

Im actually gonna sell my silver and yes gold is untouchable. I believe The US dollar should return to the gold standard and a lot of our problems will adjust just by that

I would assume there'd by hyper-deflation if that happened, or golf would go to 100k an ounce.

 

[AndreaCristiano]

I would assume there'd by hyper-deflation if that happened, or golf would go to 100k an ounce.

It's possible, but there also wouldn't be unlimited printing of the dollar and devaluation by the federal reserve. Which I believe in the long run would put the dollar on more stable ground. It also wouldn't link oil prices as closely as they are to the us dollar now. Stabilizing that industry a bit in it's opec controlled mess

 

[AndreaCristiano]

http://finance.yahoo.com/blogs/daily-ticker/40-years-later-america-back-gold-standard-114623756.html
http://www.time.com/time/magazine/article/0,9171,864070,00.html

A couple of articles on the US returning to the Gold standard

 

[Dostoevsky]

http://finance.yahoo.com/blogs/daily-ticker/40-years-later-america-back-gold-standard-114623756.html
http://www.time.com/time/magazine/article/0,9171,864070,00.html

A couple of articles on the US returning to the Gold standard

Thanks for that I'll read it later when I find some time.

Im actually gonna sell my silver and yes gold is untouchable. I believe The US dollar should return to the gold standard and a lot of our problems will adjust just by that

I think going back to the gold standard is a solution. But a solution for a much more stable economy. At the moment it would be weird to do so with all the debts flying around.

I updated my post with a few articles.

That's a dangerous attitude to have, house prices here in 2005 had risen 300% in 10 years, were they a safe investment?

http://www.guardian.co.uk/commentisfree/2010/dec/02/jp-morgan-silver-short-selling-crash
That's commonplace everywhere, you'd be a fool to go silver.

Gold is a rock, you can't touch it.

I actually had JP Morgan behind my post. I know silver isn't stable but due to Morgan's 'death' it's a safe bet, at least at the moment. Keiser is great, I love watching that guy. Silver will go down, no doubt about it.

Gold is valuable. Euro/dollar is just a piece of paper.

 

[IrishZebra]

It's certainly a possible alternative, but improbable. I'm still shocked that you guys won't touch military spending, conscript the illegal mexicans and so on.

 

[IrishZebra]

Thanks for that I'll read it later when I find some time.
I think going back to the gold standard is a solution. But a solution for a much more stable economy. At the moment it would be weird to do so with all the debts flying around. I actually had JP Morgan behind my post. I know silver isn't stable but due to Morgan's 'death' it's a safe bet, at least at the moment. Keiser is great, I love watching that guy. Silver will go down, no doubt about it.

Gold is valuable. Euro/dollar is just a piece of paper.

I don't mind Keiser, the problem is he's a mouthpiece and not an impartial analyst. Morgan aint done yet,neither are the other holders and the silver run can easily become a gold run, Chavez pulled 11B worth of gold less than half of which was physically held.


Edit: You guys should check out this commie, he writes some good shit

http://www.theglobeandmail.com/repo...bbles-dont-look-at-gold-coins/article2156529/

 

[AndreaCristiano]

It's certainly a possible alternative, but improbable. I'm still shocked that you guys won't touch military spending, conscript the illegal mexicans and so on.

for one there are two different military spending, there is actual military spending and then defense spending, the later can be cut, the former no. Also there is so much waste in government with pork projects and idiotic tax code loopholes that cutting is much easier said than done only the lobbyists won't like it