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Update- The Coming Global Economic Collapse & Currency Speculation

coming global currency collap

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#21 skylark

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Posted 26 October 2010 - 03:42 PM

More webbot data...

hmmm

Simon


whats coming will be 10-1000 times bigger than 911, so since 9/11 killed about 3,000 so this time 30,000 - 30 million people involved.

There will be a planetary crisis over paper debt - a derivatives crash is the start of it - this will change how the world works. For many people the death of the dollar will be a severe shock, catching them offguard and destroying their lives. Lots of banks go bust.

Criminal investigations of banks and politicians starts November - expect some murders of people who it is deemed 'need silencing'.

The full extent of the woes in the international monetary system, may not be allowed to be reported in the (mainstream) media because the bosses (TPTB) dont want the info known.

As the chit chat already suggests, people will be being laid off in droves - industries such as advertising, printing, media, packaging (wot no goods being sent anywhere??) and much more. A few years ago I heard it predicted that one of the major nationwide department store chains will go bust (a name well known to Americans)

starting 27th October (may be more pronounced from November onwards) solar system events will impact the earth and all of humanity. floods, tsunami. food shortage (even if produced cannot be transported to places where people are hungry), and much more

Changes will continue as far as (if not beyond) time period webbot report looks at - affecting many surface transport modes, both land and sea, and as a consequence impacting food distribution too. Waterman also used the expression 'snow in June' but this is nothing new / its happened before - not just from the middle ages (when it killed crops and caused hfood shortages) but even in my own living memory - for instance some years ago when early morning snow fell in central London on the day that the cricket season started (a popular 'warm weather' ball game typically played in Britain and many of its former colonies)

Apparently the UK is spending money training civil defence people on earthquake rescue, etc - yet in 1000 years only 8 people died here from quakes - my thoughts turn to the (hopefull) possibility of training 'search and rescue' teams for sending to disasters overseas...

But alas Waterman did say that he saw a mention of weather related events causing devastation to British and French coastal regions - which I wonder if could be tsunamic in nature and tie-in with other predictions relating to events in the Atlantic Ocean???? Zetans talk of land rising causing many Atlantic Ocean coastlands to be swamped by large tsunamis.

some earthchanges (quakes, etc) are not natural in origin - instead caused by scaler & hyperdimensional weaponry and these may also cause electrical meltdowns.

New land 90 deg east of Southern Indian Ocean.

Russia flooding - dam break after 3 years of rain in a week! (Geez!) This could tie in with a prophecy once made by the Boriska boy about floods in Russia.

Water vapour in the sky becomes visibly dense - my thoughts, could this be the re-creating of the firmament, as some channelled sources talk about??? (unsure / looking for comment)


*Yipes...so Simon, tomorrow the 27th will be the START of something BIG huh? OK, I can wait the one day. Meanwhile...back in the bleak glow of 'down to Earth' for the moment....

Four Big Banks Should/are probably Planning to Bail Out of Europe…

*'Sweeps' NOTE:
…With all the 'Dollar' Speculation, what's really happening regarding 'economies' worldwide. The long and short of it is…'The Dollar will continue, even against all odds', but Europe is in big trouble. Turns out…The 'Dollar' is being used in a 'Diversion & Miss Direction' move/'S'

Here's what's being said in Financial Circles RIGHT NOW:

Forget terrorism, cyber-warfare and deadly viruses. Some European countries face a more imminent threat to their national security: Big banks could bring down the economy if they failed.

Right now, regulators are approaching it in different ways. The British may split up retail and investment banking. The Swiss are looking at almost doubling the recommended bank- capital requirements.

Not surprisingly, the banks are fighting those proposals and claiming that such measures would cripple their ability to compete in the global market.

There is a simpler solution, and one that would be fairer to the banks that are too big and the nations that are too small to host them: The lenders should move to a bigger country. Four banks in particular -- HSBC Holdings Plc, Barclays Plc, UBS AG and Credit Suisse Group AG –

should be making plans to leave Europe. An amicable divorce would be better for both sides.

There is no question that governments and financial regulators are right to be giving some serious thought to the issue of banks that have become too big to fail.

The near-collapse of Lloyds Banking Group Plc and Royal Bank of Scotland Group Plc during the credit crunch left the U.K. with a huge bill. In Switzerland, UBS had to be bailed out.

Irish Excesses

In Iceland, the meltdown of the financial industry has just about bankrupted the country. Ireland is still paying the price for the excesses of its banks.

Both the U.K. and Switzerland are aware that the collapse of HSBC or Credit Suisse would easily turn them into another Iceland or Ireland. It would be irresponsible not to try and prevent it. It is as much of a threat to national security as the Soviet Union was at the height of the Cold War.

So how should they deal with that? True, better regulation is part of the answer. You need a lot of faith in the ability of the supervisors, however, to feel confident they can spot every crazy risk the bankers might be taking. In reality, even the board may not really know what liabilities have been tucked away in some complex derivatives contract, and how they might blow up one day. It is impossible for outsiders to be certain.

The U.K. has set up a commission headed by John Vickers, an Oxford University professor and former Bank of England economist, to look at the possible separation of retail and investment banking, as well as banning proprietary trading.

Swiss Proposal

In Switzerland, a government panel has recommended the country's biggest banks should hold total capital equal to at least 19 percent of their assets. That's almost twice the 10.5 percent level that the Basel Committee on Banking Supervision recommended last month.

They are both perfectly sensible proposals. Splitting up the banks would make the system safer.

The investment arms take most of the risks. Hive them off into separate units, and if they go bust, it doesn't matter much to the rest of the economy.

Likewise, the more capital a bank holds, the safer it is. If there are big losses on an investment, then the money is there to cover them. It needn't be catastrophic.

HSBC and Barclays have both said they may relocate overseas if the U.K. moves to split them up.

In reality, both the banks and the regulators are getting this issue upside down.

Time to Move

The problem isn't that the banks are too big. It is that they have grown too large for the economies of the nations where they happen to be based. And once you put it like that, the solution is obvious. Barclays and HSBC should leave the U.K., while UBS and Credit Suisse should leave Switzerland.

It is rough on British or Swiss taxpayers that they have to shoulder the responsibility for huge banks that don't have much to do with their own economy -- and most of whose staff are far better paid than the average taxpayer in either country.

And yet, it is hardly fair on the banks to be placed at such a disadvantage to their main competitors. Obviously, it's going to be impossible for HSBC and Barclays to keep up with Citigroup Inc. and BNP Paribas SA if they have to split their businesses. And it will be tough for Credit Suisse to stay at the top of its industry if it has to hold twice as much capital as its international competitors. Capital, after all, is the raw material of banking. The less you have of it to play with, the less you will be able to do.

So why not just move elsewhere? That way, taxpayers are freed of the potential burden of a bailout, and the banks are released from rules that make it impossible for them to compete.

There is nothing that unusual about a bank moving when regulatory regimes change. HSBC has already done it before: In 1993, it moved its head office from Hong Kong to London, and the Bank of England became its lead regulator.

Where would the big banks go? China or the U.S. would be possibilities. Of course, the U.S. might not want another too- big-to-fail bank on its soil. But they would bring much-needed jobs and tax revenue. In the end, it is for the banks and local authorities to decide.

But as any marriage counsellor would concede, sometimes a relationship has been outgrown by both sides. And when it has, it is simply better to move on.


#22 simple simon

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Posted 26 October 2010 - 05:05 PM

hmm, it would see many jobs going from London, which might be bad for the wider economy - especially since we as a nation were forced to put banking above manufacturing, so without the bankers would have an evenn worse balance of trade problem than we have 'now'.

(My thoughts turn to Maggie Thatcher / 'financial big bang' in the late 1980's, etc...)

On the other hand, the need to bail them out has hardly done us any favours either. As I understand it, experience from the 1930's suggests that bailing them out is seen to be preferable to letting them fail, which explains why they were rescued a couple of years ago.

Maybe they should be sent to the small tax haven islands in the Carribean?

However, if they do go there then as when the Icelandic banks went down the reality is that (British) depositors would still risk losing their money should they fail. But at least the rest of us would not end up paying out too.

Maybe there is a need to tie bankers' pay and shareholder dividends to the performance of the banks, with important factors including how many staff they employ (more staff = allowed to earn more) how few staff they give the boot in bad times (the more sacked the more the bankers must have their pay cut) how much they lend out, how many bad debts, their charitable support, the benefits to the wider economy, and so on. I'd also apply similar logic to pensions - its quite wrong that some former CEO's were able to leave with very fat pensions at the same time the taxpayer's pockets were being tapped.

btw, according to Zetatalk and some Catholic prophecies from a year or so ago which came via someone chanelling the Virgin Mary, tectonic activity in and around Central America, the GOM, etc, will also see some inhabited islands in the Carribean being lost to the seas. If it happens (I am not convinced of the accuracy of the sources but what if this issue is what proves them to be even partly accurate?) then how that will affect the present-day economic situation remains to be seen. It cannot be good. Certainly the loss of lives will create a significant outpouring of grief - even amongst bankers, if they have statched their wealth there.

Simon

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#23 skylark

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Posted 26 October 2010 - 06:08 PM

hmm, it would see many jobs going from London, which might be bad for the wider economy - especially since we as a nation were forced to put banking above manufacturing, so without the bankers would have an evenn worse balance of trade problem than we have 'now'.

(My thoughts turn to Maggie Thatcher / 'financial big bang' in the late 1980's, etc...)

On the other hand, the need to bail them out has hardly done us any favours either. As I understand it, experience from the 1930's suggests that bailing them out is seen to be preferable to letting them fail, which explains why they were rescued a couple of years ago.

Maybe they should be sent to the small tax haven islands in the Carribean?

However, if they do go there then as when the Icelandic banks went down the reality is that (British) depositors would still risk losing their money should they fail. But at least the rest of us would not end up paying out too.

Maybe there is a need to tie bankers' pay and shareholder dividends to the performance of the banks, with important factors including how many staff they employ (more staff = allowed to earn more) how few staff they give the boot in bad times (the more sacked the more the bankers must have their pay cut) how much they lend out, how many bad debts, their charitable support, the benefits to the wider economy, and so on. I'd also apply similar logic to pensions - its quite wrong that some former CEO's were able to leave with very fat pensions at the same time the taxpayer's pockets were being tapped.

btw, according to Zetatalk and some Catholic prophecies from a year or so ago which came via someone chanelling the Virgin Mary, tectonic activity in and around Central America, the GOM, etc, will also see some inhabited islands in the Carribean being lost to the seas. If it happens (I am not convinced of the accuracy of the sources but what if this issue is what proves them to be even partly accurate?) then how that will affect the present-day economic situation remains to be seen. It cannot be good. Certainly the loss of lives will create a significant outpouring of grief - even amongst bankers, if they have statched their wealth there.

Simon


*YO and YOU'RE RIGHT Simon,
...Don't TRUST that source. highly tainted with Religious 'overlay' and superstition. YOU KNOW!
Now, as to BANKS....they should be JUST THAT 'a bank'. Let them all go back to being 'Just Banks'...lending money, savings accounts with interest/etc. Take the 'steam' out of them and let them serve customers interests...no stock markets/etc./'S'



#24 simple simon

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Posted 26 October 2010 - 10:35 PM

*YO and YOU'RE RIGHT Simon,
...Don't TRUST that source. highly tainted with Religious 'overlay' and superstition. YOU KNOW!
Now, as to BANKS....they should be JUST THAT 'a bank'. Let them all go back to being 'Just Banks'...lending money, savings accounts with interest/etc. Take the 'steam' out of them and let them serve customers interests...no stock markets/etc./'S'



yea, source of finance and savings, let others play the stock market with their own money so that if its lost then no-one else is dragged under with them.

Simon

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#25 skylark

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Posted 30 October 2010 - 08:21 PM


yea, source of finance and savings, let others play the stock market with their own money so that if its lost then no-one else is dragged under with them.

Simon


*By George...you got it, catch on quick Simon,
...Yep, that is my whole premise on BANKS. Way out of control, and not serving customer needs for REAL PURE Banking. They would then be called/labled as 'Mickey Mouse' Banks. That's OK, because ...the banks which DID NOT FAIL...were such banks. Tah and thanks/'S'



#26 simple simon

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Posted 30 October 2010 - 10:09 PM

*By George...you got it, catch on quick Simon,
...Yep, that is my whole premise on BANKS. Way out of control, and not serving customer needs for REAL PURE Banking. They would then be called/labled as 'Mickey Mouse' Banks. That's OK, because ...the banks which DID NOT FAIL...were such banks. Tah and thanks/'S'


yes but...

If you recall the financial 'big bang' of the 1980's, then maybe herein is to be found the real issue.

What was the purpose of the 'big bang'? Could it have been to create a climate in which money could swill about in such large and uncontrolled quantities that some (smallish amounts in percentage of GDP terms, but neverthess still significant in value term) could be siphoned off for 'other uses'???

Does my suggestion sound DUMB? Is my thinking 'alien / off the planet'??

Anyway, so whilst we quite rightly blame the bankers for their piggish greed we should (perhaps) also look to changes in banking systems and regulatory regimes which encouraged the 'loads of money' piggery which saw / still sees some bankers receiving bonuses many times greater than most people earn in a decade.

In other words, were the bankers 'set up' / 'framed' to take the rap by the elite, so that TPTB could have access to significant amounts of money in ways which could be hidden from the masses - - until what amounts to a financial pyramid scheme implodes, which is the situation we've started seeing in recent years (and is still to fully manifest).

Of course bankers should be 'hauled over the coals' for being so greedy, on the other hand, it stands to reason that if people who are known to be greedy are suddenly given free reign (and unlimited food) to feed to their heart's content, then they will do just that (pig out)!

My understanding of what you, the webbots and so many others are saying could be summed as "so far we think we've had it bad, but in reality we only have a sharp cold. Now we are about to face the economic music / catch a severe case of the flu. Its going to knock us out and will be a most unpleasent time. Even worse than the flu epidemic of the 1930's"

Simon

Edited by simple simon, 01 November 2010 - 09:31 PM.

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#27 simple simon

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Posted 12 November 2010 - 11:32 PM

so today is the second Day of the G20... will it see beneficial changes in the global economy?

or is there more likelihood that if I look out of the window I will see pigs flying????

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#28 simple simon

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Posted 14 November 2010 - 10:46 PM

so, the webbot tipping point did just that (it tipped over) and despite all the dire expectations no-one got hurt and we all lived to tell the tale.

Lets see what happens with the stock and other financial market on Monday morning, and whether a mad run on the banks with people rushing to get their savings out might yet come to pass in a few days from now. I hear rumours that the Irish (and American?) economy is now so close to the brink that it/they might even fall over.

If so, it might be time to remember the old saying "at the end whoever has the most toys wins" and go shopping with plastic cards as if there will be no tomorrow.

Many people also wondered whether the tipping point would relate to catastrophic geophysical activity. Perhaps though there is a greater significance & importance than we ever imagined in the freeing of the lady whose name I cannot spell in Burma?

Simon

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#29 skylark

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Posted 15 November 2010 - 09:02 AM

so, the webbot tipping point did just that (it tipped over) and despite all the dire expectations no-one got hurt and we all lived to tell the tale.

Lets see what happens with the stock and other financial market on Monday morning, and whether a mad run on the banks with people rushing to get their savings out might yet come to pass in a few days from now. I hear rumours that the Irish (and American?) economy is now so close to the brink that it/they might even fall over.

If so, it might be time to remember the old saying "at the end whoever has the most toys wins" and go shopping with plastic cards as if there will be no tomorrow.

Many people also wondered whether the tipping point would relate to catastrophic geophysical activity. Perhaps though there is a greater significance & importance than we ever imagined in the freeing of the lady whose name I cannot spell in Burma?

Simon



Pro-democracy leader Aung San Suu Kyi…Simon
Phonetically…'Ahn Sahn Sue Chee'

*'Sweeps' Note:
…Grave times NOW being visited on Ireland, but read/check out the Link/writing below/'S'

Visit My Website


Ireland will try to win support this week from the European Union to avoid a Greek-style bailout as investors balk at buying the country's bonds.

EU Economic and Monetary Affairs Commissioner Olli Rehn arrives in Dublin today for a two-day visit after the government laid out a plan last week to cut spending and raise taxes by as much as 6 billion euros ($8.4 billion) in 2011.

While Ireland has the funds to avert the need for an immediate rescue, its cash may run out in the middle of next year unless it can raise money from the bond market in 2011. Ireland led a surge in the cost of insuring sovereign debt to a record on Nov. 5 as the government struggles to convince investors it won't be the next Greece, whose economy was rescued by the EU and International Monetary Fund in May.

"It's close to a buyers' strike at this point," said Jens Peter Soerensen, chief analyst in Copenhagen at Danske Bank A/S, a primary dealer in Irish government bonds. "Something needs to happen in the next few weeks to change the dynamic."

Irish Finance Minister Brian Lenihan aims to narrow the budget gap to 3 percent of gross domestic product, the limit for euro members, by 2014 from about 12 percent this year. When the costs of the banking rescue are included, this year's deficit jumps to 32 percent of GDP.

'Doom'

While Lenihan said on Sept. 30 that the cost of saving the country's banks wouldn't exceed 50 billion euros, Morgan Kelly, an economics professor dubbed the country's "Doctor Doom," said the figure may be 70 billion euros.

Kelly was given the 'Doom' nickname by newspapers including the New York Times after he forecast in 2006 that Irish property prices may decline as much as 80 percent.

"What is the point of rearranging the spending deckchairs, when the iceberg of bank losses is going to sink us anyway?" Kelly wrote in the Irish Times newspaper today.

Rehn is due to hold a press conference with Lenihan at 8 p.m. today in Dublin, the Finance Ministry said. On his visit to Ireland, the commissioner will look at the budget plan and also meet opposition political leaders, labor unions and employers.

"The clock is ticking between politics and the budget, with investors sitting in the backseat looking very green," said Scott MacDonald, head of credit and economic research at Stamford, Connecticut-based Aladdin Capital Management LLC. "The budget is key to regaining confidence."

Parliament Battle

The government will detail how it aims to cut the 6 billion euros on Dec. 7. Lenihan told the Sunday Business Post in an interview published yesterday that the 2011 budget will "absolutely" pass through parliament.

Fine Gael, Ireland's biggest opposition political party, is not planning to back the budget, leader Enda Kenny said. The government, which has a majority of three seats, also faces a special election to fill a vacancy in parliament on Nov. 25.

Ireland Default Predicted by Majority in Global Investor Poll

A majority of global investors predict Ireland will default on its sovereign debt, showing that weeks of efforts by the government of the onetime "Celtic Tiger" haven't allayed concerns about its creditworthiness.

As the Irish government puts the finishing touches on a plan to find 15 billion euros ($20.5 billion) in savings, 51 percent of respondents in the latest Bloomberg Global Poll say they regard a default as likely, compared with 42 percent who say it is unlikely. The ranks of those anticipating an Irish default have tripled since a poll in June.

Ireland will default in the next 18 months," says poll respondent Ned Lott, senior vice president of MF Global Inc. in Chicago.

Ireland ranks behind only Greece -- with 71 percent of those polled -- and ahead of Portugal -- with 38 percent -- among nations seen as most likely to default, according to the quarterly poll of 1,030 Bloomberg customers who are investors, analysts or traders, conducted Nov. 8.

Irish 10-year bonds dropped for a 13th day yesterday, driving the yield up 26 basis points to 8.89 percent and the risk premium over benchmark German 10-year bunds to 646 basis points from 619 on Nov. 10. The premium dropped to 644 as of 7:50 a.m. in Dublin.

Ireland is being urged by European policy makers to take emergency aid to contain a debt crisis rattling their markets, according to a person briefed on the discussions.

In a conference call of European Central Bank officials around noon Frankfurt time yesterday, Ireland was pressed to seek outside help within days, the person said on condition of anonymity. Separately, a European Union official said a request for assistance was likely even as Irish Finance Minister Brian Lenihan told RTE Radio that such a call "makes no sense" as the government is fully funded to mid-2011.

Irish bonds rose from a record low yesterday, gaining for the first time in 14 days as traders bet a bailout was near. Prime Minister Brian Cowen said for the first time that he is working with fellow EU leaders as "there are issues affecting the wider euro area" and that they are trying to "ensure that the bond markets respond positively to the euro." He reiterated that his debt-strapped country has not sought cash.

"It seems difficult for Ireland to avoid tapping the fund unless they have new rabbits to pull out their hat," said Julian Callow, chief European economist at Barclays Capital in London.

An ECB spokeswoman declined to comment and the Finance Ministry in Dublin said no talks on emergency funds were under way. ECB President Jean-Claude Trichet, speaking today in Tutzing, Germany, declined to comment on Ireland.

Possible Aid

Ireland could draw on the 60 billion euro ($82 billion) segment of the broader 750-billion-euro fund set up by the EU and International Monetary Fund in May, Irish state broadcaster RTE said, without saying where it obtained the information. The smaller pool is funded directly by the European Commission, the EU's Brussels-based executive branch.

Luxembourg Prime Minister Jean-Claude Juncker, who chairs the panel of euro-area finance ministers, said yesterday there was "no immediate reason" to think Ireland will request cash and that officials would not meet before regular monthly talks in Brussels next week.

IMF Managing Director Dominique Strauss-Kahn said he was prepared to help. "If at one point in time, tomorrow, in two months or two years, the Irish want support from the IMF, we will be ready," he told reporters today in Yokohama, Japan.



#30 simple simon

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Posted 22 November 2010 - 09:13 PM

Well it looks like Ireland is going to seek financial aid, perhaps as much in an effort to save the Euro as anything else. Because of agreements made by the former Chancellor of the Exchequer (A. Darling - at least in name! sic) after Labour had lost the election but before ceeding power so we Brits are going to be coffing up £7bn in aid. As if we are flush with money with oodles to spare.....

Meanwhile the people of Estonia look on, horrified with what they see and wondering whether the Euro will still exist by the time they join it on New Years day 2011.

But, does the Irish capitulation mean that we are 'out the woods'? Or does it just delay the time when matters financial go bump in the night???

Simon

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#31 simple simon

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Posted 23 November 2010 - 10:22 AM

ERIC CANTONA "KILL THE (CRIMINAL) BANKS" (A MUST SEE)!

http://www.youtube.c...feature=related

http://www.guardian....rotest-campaign

(quote)

"We don't pick up weapons to kill people to start the revolution. The revolution is really easy to do these days. What's the system? The system is built on the power of the banks. So it must be destroyed through the banks.

"This means that the three million people with their placards on the streets, they go to the bank and they withdraw their money and the banks collapse. Three million, 10 million people, and the banks collapse and there is no real threat. A real revolution.

"We must go to the bank. In this case there would be a real revolution. It's not complicated; instead of going on the streets and driving kilometres by car you simply go to the bank in your country and withdraw your money, and if there are a lot of people withdrawing their money the system collapses. No weapons, no blood, or anything like that."

He concludes: "It's not complicated and in this case they will listen to us in a different way. Trade unions? Sometimes we should propose ideas to them."




Simon

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#32 skylark

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Posted 23 November 2010 - 12:10 PM

ERIC CANTONA "KILL THE (CRIMINAL) BANKS" (A MUST SEE)!

http://www.youtube.c...feature=related

http://www.guardian....rotest-campaign

(quote)

"We don't pick up weapons to kill people to start the revolution. The revolution is really easy to do these days. What's the system? The system is built on the power of the banks. So it must be destroyed through the banks.

"This means that the three million people with their placards on the streets, they go to the bank and they withdraw their money and the banks collapse. Three million, 10 million people, and the banks collapse and there is no real threat. A real revolution.

"We must go to the bank. In this case there would be a real revolution. It's not complicated; instead of going on the streets and driving kilometres by car you simply go to the bank in your country and withdraw your money, and if there are a lot of people withdrawing their money the system collapses. No weapons, no blood, or anything like that."

He concludes: "It's not complicated and in this case they will listen to us in a different way. Trade unions? Sometimes we should propose ideas to them."




Simon


*Good morning Simon and All,
...Well I've insinuated the same idea 'right along'...Below is a good LINK for another idea worthy of merit, from a British Newspaper. Something to think about doing IMO/'S'

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#33 skylark

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Posted 24 November 2010 - 02:20 PM

*Good morning Simon and All,
...Well I've insinuated the same idea 'right along'...Below is a good LINK for another idea worthy of merit, from a British Newspaper. Something to think about doing IMO/'S'

Visit My Website


*Just 'popping in' the latest Irish Meltdown news here, even though it changes hour to hour. Check Link for full story/'S'

DUBLIN - The Irish government faced imminent collapse on Monday, only a day after it signed off on a $100 billion bailout, setting the stage for a new election early next year and injecting the threat of political instability into a European financial crisis that already has markets on edge.
Confronted with high-level defections from his governing coalition, Prime Minister Brian Cowen said he would dissolve the government after passage of the country's crucial 2011 budget early in December.
His announcement capped a grim day for Ireland, as protesters tried to storm the Parliament building in Dublin, and Moody's Investors Service, the ratings agency, lowered the rating on Irish debt by several notches.
In agreeing to new elections, Mr. Cowen seemed sure to become the first political casualty of the debt crisis in the 16-member euro zone.

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#34 skylark

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Posted 25 November 2010 - 01:58 PM

*Just 'popping in' the latest Irish Meltdown news here, even though it changes hour to hour. Check Link for full story/'S'

DUBLIN - The Irish government faced imminent collapse on Monday, only a day after it signed off on a $100 billion bailout, setting the stage for a new election early next year and injecting the threat of political instability into a European financial crisis that already has markets on edge.
Confronted with high-level defections from his governing coalition, Prime Minister Brian Cowen said he would dissolve the government after passage of the country's crucial 2011 budget early in December.
His announcement capped a grim day for Ireland, as protesters tried to storm the Parliament building in Dublin, and Moody's Investors Service, the ratings agency, lowered the rating on Irish debt by several notches.
In agreeing to new elections, Mr. Cowen seemed sure to become the first political casualty of the debt crisis in the 16-member euro zone.

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*This is just a GREAT SEMINAL message VIDEO from Nigel Farage to the EURO PARLIAMENT. Dig it, and he really 'gives it to them'/'S'

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#35 Yaeger

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Posted 25 November 2010 - 08:41 PM

Same here in Ireland. And now those government thugs make (or try to) the citizens pay for the bankersters' mismanagement and outright fraud.

Why should a government use tax-payers' money to bail out failing private companies??? Ireland has just been taken over by the IMF!

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#36 Yaeger

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Posted 25 November 2010 - 08:45 PM

Well it looks like Ireland is going to seek financial aid, perhaps as much in an effort to save the Euro as anything else. Because of agreements made by the former Chancellor of the Exchequer (A. Darling - at least in name! sic) after Labour had lost the election but before ceeding power so we Brits are going to be coffing up £7bn in aid. As if we are flush with money with oodles to spare.....

Meanwhile the people of Estonia look on, horrified with what they see and wondering whether the Euro will still exist by the time they join it on New Years day 2011.

But, does the Irish capitulation mean that we are 'out the woods'? Or does it just delay the time when matters financial go bump in the night???

Simon


The Euro has failed as a currency. The next Irish government needs to get the country out of the Euro zone and re-establish a national currency. But unfortunately all parties , including the phony opposition, are hooked on the Euro and the darn E.U..

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#37 simple simon

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Posted 25 November 2010 - 11:38 PM

The Euro has failed as a currency. The next Irish government needs to get the country out of the Euro zone and re-establish a national currency. But unfortunately all parties , including the phony opposition, are hooked on the Euro and the darn E.U..



Leaving the Euro zone would see Greece, Spain, Portugal and probably Italy having to do likewise. I thought that the plan was for a 'second tier' Euro for these countries?

The front page headline in today's Daily express newspaper called for Britain to withdraw. I think that in time this could happen - there are enough nations outside of Europe for us to trade with, and most of these still see us favourably, rather than as a 'cash cow', plus if you think about the Commonwealth and the cultural connections with people from places such as India who are here so the opportunities for trade are indeed 'very good'.

Europe will be miffed, but if it is wise it would not take punitive action against us, especially as they need us as trading partners more than we need them... in other words, we buy more of their stuff than they buy of ours!

It could be that the loss of the generous duty free restrictions will be the only thing which most Brits will regret.

Simon

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#38 skylark

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Posted 29 November 2010 - 10:01 AM


Leaving the Euro zone would see Greece, Spain, Portugal and probably Italy having to do likewise. I thought that the plan was for a 'second tier' Euro for these countries?

The front page headline in today's Daily express newspaper called for Britain to withdraw. I think that in time this could happen - there are enough nations outside of Europe for us to trade with, and most of these still see us favourably, rather than as a 'cash cow', plus if you think about the Commonwealth and the cultural connections with people from places such as India who are here so the opportunities for trade are indeed 'very good'.

Europe will be miffed, but if it is wise it would not take punitive action against us, especially as they need us as trading partners more than we need them... in other words, we buy more of their stuff than they buy of ours!

It could be that the loss of the generous duty free restrictions will be the only thing which most Brits will regret.

Simon

*IRISH ANGER won't be quelled,
...At the 1000,000 protestors March in Dublin 2 days ago...there were several SIGNS
held up demanding 'Revolution' and government 'take down'. Below is a good article Link
to 'take in'. More later, but the Anger is deep...Making the country a virtual 'slave' to the EU. The 2nd/3rd VIDEOS are good representations of protest feelings/'S'

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#39 skylark

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Posted 30 November 2010 - 09:14 AM

*IRISH ANGER won't be quelled,
...At the 1000,000 protestors March in Dublin 2 days ago...there were several SIGNS
held up demanding 'Revolution' and government 'take down'. Below is a good article Link
to 'take in'. More later, but the Anger is deep...Making the country a virtual 'slave' to the EU. The 2nd/3rd VIDEOS are good representations of protest feelings/'S'

Visit My Website

Visit My Website

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*30November-End of the month Analysis folks. This is what 'experts' are saying-below/'S'

The failure of the Irish rescue to stem a selloff across euro-region bond markets may spell more bailouts to come, starting with Portugal.

The costs to insure Portuguese debt against default jumped to a record yesterday and Spanish bonds slid the most since the euro’s debut, highlighting investor concerns that officials lack the tools to contain a debt crisis threatening the currency’s survival. The extra yield that investors demand to hold Italian debt over German 10-year bonds rose to the highest in 13 years.

“We are barely halfway through the current crisis in the euro zone,” Paul Donovan, deputy head of global economics at UBS AG in London, said in an interview with Ken Prewitt and Tom Keene on Bloomberg Radio’s “Bloomberg Surveillance” program. “Unless we can see a further significant decline in bond yields in Portugal, the market is going to expect another bailout. And then market attention will turn to Spain.”

Market declines began less than 24 hours after European Union finance ministers confirmed their second bailout of a euro nation after Greece’s in May, handing Ireland an 85 billion-euro package ($111 billion) to rescue its banks and bolster government finances. While EU officials also agreed on a mechanism to smooth bond restructurings after 2013, investors are speculating that debt-strapped nations won’t be able to cut deficits fast enough before then.

Euro Drops

The single currency dropped as much as 1.3 percent to a two-month low of $1.3064. The premium on Spanish 10-year bonds over German bunds rose 22 basis points to a euro-era high of 266. The yield on Italy’s 10-year government bond rose 22 basis points to 4.64 percent, about 60 basis points more than Brazil. Portuguese credit-default swaps jumped 40 basis points to 542, according to CMA, a data provider.

The challenge for EU leaders is to stop the crisis without a fiscal union



#40 simple simon

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Posted 30 November 2010 - 09:38 AM

Sweeps,

I was speaking with a friend yesterday who is in her mid 60's (age) and she said that she is about to put in a safe at her home.

She reckons the system is now becoming so rickety that people with savings are becoming seriously worried that they are risking losing some / much of that money.

This page at the London Daily Telegraph says much the same as your message.


http://www.telegraph...lm-markets.html

Contagion strikes Italy as Ireland bail-out fails to calm markets
The EU-IMF rescue for Ireland has failed to restore to confidence in the eurozone debt markets, leading instead to a dramatic surge in bond yields across half the currency bloc.

<snip>

"The EU rescue fund cannot handle Spain, let alone Italy," said Charles Dumas, from Lombard Street Research. "We we may be nearing the point where Germany has to decide whether it is willing take on a burden six times the size of East Germany, or let some countries go."

<snip>

Related Articles (links on main article)

Roubini tells Portugal to seek rescue 29 Nov 2010
Germany faces awful choice as Spain wobbles 29 Nov 2010
Ireland gets £72bn bail-out in attempt to stem contagion 28 Nov 2010
Ireland bailout: statement by EU finance ministers 29 Nov 2010
O'Neill: euro faces 'black swan' point 27 Nov 2010
Spain could be forced to seek bail-out 'within months' 27 Nov 2010
Investor reaction comes as a bitter blow to eurozone leaders, who expected the €85bn (£72bn) package for Ireland agreed over the weekend to calm "irrational markets".


------------------------

This HAS to be the webbot tipping point events being played out, and if I recall correctly Clif talked about a related date in early January - which could be when the system finally implodes.

Simon, in snowy London (and its still falling, plus we are being promised more of the white stuff later this week alongside 35mph gales - if it happens then it will be only the second time I've experienced a true blizzard and a 'white out' in London.)


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