Europe has now followed the Fed in its all in move to prevent the disintegration of the euro and of Europe. As we expected, the EU was leaking various rumors to gauge market interest, and as speculated earlier, the final cost ended up being just short of one trillion. Here are the key summaries:
- EU Crafts $962 billion show of force to halt crisis
- Full blown monetization: ECB will buy public and private bonds
- Fed reactivates swap lines with Bank of Canada, BOE, ECB, BOJ, and the SNB
In other words, total and unprecedented monetary lunacy, as every cental bank, under the orchestration of the Federal Reserve, will throw money at the problem until it goes away, which it won't. As we have long expected, Bernanke is now willing to sacrifice the dollar at any cost to prevent the euro unwind. This is nothing than a very short-term fix, whose half life will be shorter still than all previous ones.
The race to the currency devaluation bottom is now in its final lap. And gold is the only alternative to the now imminent collapse of the fiat system: the world had a chance to take writedowns on losses, punish those who took risk and failed, and refused to do so. There is now no risk left, but it only means that eventually all the risk will come back and lead all capital markets to zero. The result will be the end of Keynesian economics as we know it. Do not trade in this broken market, do not hold your money in a bank as they are all now one hour away from a terminal bank run - buy and hold real, FASB mark-to-myth independent assets.
More Here..Some Layoffs:
Dean Foods - 350 to 400
RBS - 2,600
Update: Fort Wayne IN - 300 Teachers to Learn Layoffs Numbers today
City of Costa Mesa - 51 Possible
Town of Mesilla NM - 4
Newark Valley Central School District - 11
What's a trillion dollars?
ReplyDeleteA trillion dollars = $1,000,000,000,000.
That's 12 zeroes to the left of the decimal point. A trillion is a million million dollars.
If you laid one dollar bills end to end, you could make a chain that stretches from earth to the moon and back again 200 times before you ran out of dollar bills! One trillion dollars would stretch nearly from the earth to the sun. It would take a military jet flying at the speed of sound, reeling out a roll of dollar bills behind it, 14 years before it reeled out one trillion dollar bills.
Foolish politicians make pronouncements about the strength of the economy. The total debt obligation of the United States now exceeds 46 TRILLION DOLLARS.
American workers now net almost 30 percent less in real wages than they did in 1973. After taxes, two paychecks in a family barely equal the purchasing power one had thirty years ago.
The Rothschild banking elite family has an estimated wealth equal to 250+ trillion dollars. Americans think Bill Gates is top dog with his 33 billion. Gates is a bum with a shopping cart in comparison to the Oligarch bankers.
ReplyDeleteThat is just how powerful and wealthy the owners of this country really are; unimaginable.
"People are sick and tired of the red, white and blue dildo being shoved up their ass constantly by these rich co##suckers that don't give a shit about them. The don't, they don't; they don't give a shit about you." - George Carlin
ReplyDeleteThe Stock Market says everything is A OKAY. Nothing to see here. Now, back to Tiger and his sore neck.
ReplyDeleteYup, everything is good now. European bailout complete (thanks to the fed), stock market up, all is well.
ReplyDeleteWell, maybe not, still have the rest of the PIIGS and all of eastern Europe to collapse yet, oh, dont forget mother country england. And there is the big Kahuna, the US. Not to mention numerous latin american countries.
Anybody know what time dancing with the stars comes on tonight? Or more important, who is on it tonight?
I think it is on at 9pm, not sure hahaha. Every past dictator or power hungry madman is envious from the grave over how many distractions our owners have lined up to divert us away from truth.
ReplyDelete"Here, watch these retards bang their heads together. You are free America! Free to do what we tell you."
"Here children, go out and play while the adults make the decisions for you. Here's your glove, here's your mitt." - Jordan Maxwell
ReplyDeleteHere is the latest on Tiger's neck. Not much else happening...
ReplyDeletePonte Vedra Beach, Fla. -- Dressed in his Sunday red shirt, Tiger Woods bowed his head and sat in silence in front of his locker.
He was supposed to be on the ninth hole at The Players Championship. In another stunning twist for someone whose life used to be so predictable, Woods withdrew suddenly with neck pain that he fears might be a bulging disk.
Woods was so frustrated that he slammed his golf shoe to the floor while taking questions from three reporters.
"SHEEPLE" things we LOVE because we can't think for ourselves!
B.O. picked that Kagan airhead for the kangaroo court this morning. Look at the way she looks at B.O.
ReplyDeleteLike she is looking up to a God. Disgusting. So much for three branches of government.
I do trust that God/Great Spirit/Tao will make certain selections of people to give aide to so that the disfunctional ones don't get to be the capstone or the base.
ReplyDeleteIt is about time this world gets turned upside down (right-side-up). I've been at omega waiting for alpha to return. Finally I get to know myself again.
Religious Zealots, Atheists, Darwinians, Marxists, Capitalists, "Educators" and "Teachers", New Agers, Businessmen, Soldiers and Officers, Fundamentalists and Traditionals, Cafeteria Conservatives and Moderates, Pseudo-Feminists and Pseudo-Sexologists, Dedicated Learners and Advent Readers, Eastern Mystics and Western Gnostics, Christians and Muslims, Wiccas and Pagans, Leaders, Organizers, Nationalists and Anti-Nationalists, and all other things that are old consciousness and give false light - Your time is over, Father is Coming.
'Bulging Disk'
ReplyDeletehmmmmmmmmmCm
Monetize.
ReplyDeleteDon't you just love that word.
'Make Money'
Create from thin air!
'Monetize'
Now wait a minute there cuz
ReplyDeletethere isn't 250 Trillion dollars in NET wealth on the entire damn globe
How can Rothies be worth that ! ?
I mean WE might owe 250 Trillion one day soon; but debt is a far cry from wealth/worth.
Wrong, do your research.
ReplyDeleteStill waitin' on that c r a s h in 2010 Celente.
ReplyDeletethis bailout game could go on for several decades.most people have taken their new lower standard of living in stride. humans are about emotions and not about gold or fiat currencies.fear,anxiety and boredom are all taken care of by television,internet,sex,drugs and alcohol.
ReplyDeleteso as long as people remain willing participants of this game whether is out of fear or convenience, the show goes own. i see a better chance of people like ourselves being jailed for our views and opinions than people waking up and starting a revolution.
but still, it doesn't hurt to prepare....
EURO was supposed to go up from $1.29, instead it fell to $1.27...the crash is right on schedule, in fact is just sped up. Celente called for crash in 2nd half of 2010, it may be earlier in the 2nd half than he thought.
ReplyDeleteTotal household wealth in the year 2000 was 125 trillion.
ReplyDeleteBut don't worry; according to most posters on this site - that actually equates to about 5 bucks
And so; using that formula & the above Rothchild
worth number -----------------------------------
They are actually worth $10 dollars
Groovy Man !
5:55 I love the analogy ! Ya know - I'm 58 years old and have worked hard all my life & don't owe anybody a penny. I am in no way wealthy; nor will I ever be - But I am beholden to no Man or No company or no Corporation.
ReplyDeleteOne must at least be a little wise with their money and monetary decisions & sometimes it's hard to tell someone that although it takes 10 seconds to sign those papers; sometimes it will take a lifetime to pay them off.
That's how we end up with people like the Rothchilds and these huge corporations. But remember; they are all nothing without the Zobot
customer/consumer.
My Mother is still alive and my Father passed away last year at 88 in good health to the end - will these Rothchilds live a better life? Longer?
Eat better/healthier food? have better sex? enjoy a better sunset? love their grandkids more?
No - they won't; some might think they do or will; but they won't.
I always loved Ray Charles' analogy when asked about all his wealth and he said, you know I can't eat but 3 squares a day and make love but to one woman at a time.
That's the beauty about human mortality. It is the great equalizer of all the human conditions
and regardless of your current stature in life you only have so many hours on this planet; please use them wisely.
The greatest irony is that if you look up the top 10% of longest lived persons ever recorded?
You never heard of a darn one of them - they were just ordinary people like you and me; doing the best they could. Some Rothschild somewhere is probably dying of who knows what as we speak
what good is his 250 Trillion or part thereof ?
It will not buy him/her one more minute
Not one.
Euro Bailout:
ReplyDeleteThis is a last ditch “Marshal plan”, Mark 2, for kick starting a bankrupt Europe and their bond markets with funny money to save the bondholders in Europe ,including US bondholders , from defaulting countries.
A chance for Austerity , the dictatorship of the finance capitalist the rich and banksters to be put firmly in place to save the bondholders .
If the speculators derivative bets shorting the € do not get held at bay and the Euro falls anyway,the swapped US dollars will get swapped back with devalued Euros .
And the nice Fed bailout bet from Ben to the financil elite in Europe , in the name of the US, will fail to get the full value of the dollars loaned back returned.
Just a pile of devalued Euro paper to store at the Fed next to all the dud US housing market bonds and mortgages the Fed owns.
Tough luck Americans.
Those ‘speculating wolves” who bet short term against the Euro must be facing big margin calls now ?
Will any of these losers be of the "too big to fail” class and be bailed out just like last time when Paulson used his bazooka ?
“B.O. picked that Kagan airhead for the kangaroo court this morning. Look at the way she looks at B.O.
ReplyDeleteLike she is looking up to a God.”
What do you want to keep at least one WASP male on the bench ?
How old fashioned and amerikan quaint!
An "american" trillion in economics, as in counting GDP, government tax revenues ,is only 1000 billion ?
ReplyDelete