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The city employees seem to be weathering this storm alright at 100K plus...
ReplyDeleteDeflation is occurring now, but that won't last long. There will be no hyperinflation, but at the end of the day, inflation will rule. We are starting to see inflation with increasing prices and salary raises.
ReplyDeleteThe economy is going to be going into overdrive soon. The question will be, when should you jump off the train, because after this, I don't like what I see.
Only govt workers are getting raises any unemployed person is finding work at 10k less or more a year than previous salary.
ReplyDeleteI was unable to forward to this info for research, so here it is. Found this Comment on a Yahoo Tech Ticker post:
ReplyDeleteLuc - Wednesday May 19, 2010 05:21PM EDT
My best source of German bank information believes firmly that Spethmann's action will lead to the Euro currenty being split into a Northern Euro and a Latin Euro (aka Club Med Euro disrespectfully). The current Euro currency is not a homogeneous entity. Backing all fiat currencies is debt and the formal bond securities. The different Euro Notes are clearly identifiable by nation, marked by a letter in front of the serial number. The Germany denotation letter is X. My German contact, the banker contact was personally at the table for three days in April where the battle plan was designed, decided, and agreed upon. The risk, if not intrigue, centers on an aspect involved that might constitute high treason by certain politicians and upper level civil servants. The German banker contact provided a summary after attending certain high level meetings, as impressions with notes were gathered. His steady sharing of information has been very valuable on matters pertaining to gold, currencies, and bank assets in Central Europe. He wrote, "The first complaint unhinged the Lisbon Treaty that only was implemented after we turned it into a Swiss Cheese, except with 1000 times more holes in it than normal, from heavy motions. The actual Lisbon Treaty enacted looks more than having been treated with a double barrel shotgun multiple times. It will not stand the test of time.
There is absolutely no possibility that there will be deflation. The amount of money that has been printed in the last year alone is beyond belief. Yet alone the increasing job losses and higher prices.
ReplyDeleteHowever, this time there is a juicy component added which deals with criminal elements and high treason committed by high ranking, political government members, and civil servants. With the Greek situation in the crapper and Portugal , Spain , and Italy to follow shortly, it is safe to assume that the constitutional court in Karlsruhe will be more careful in giving the complaint the attention it deserves. The politicians ( Berlin, Brussels, ECB-Ffm) are pretty much defenseless this time and The Group will push them easily over the cliff. The EURO is toast in its current composition. There will be a Northern Euro made for use by Germany , Netherlands , with Austria and Finland too, split from the Club Med Euro where all the losers will unite. Those Latins must learn to pay for their own keep. Their citizens will not like it. The Northern Euro will eventually be commodity backed with Russia coming into the equation. The route that will be taken is via Helsinki, since in Finland they have all wires in the box already. The remaining piece is connection by German and Russian 'electricians.' The entire issue is one of economic survival of the people in the Northern European countries, whose nations have been drained by support of ineffective southern neighbors that has essentially been nothing short of welfare costing $300 to $400 billion annually. Nothing more and nothing less.
ReplyDeleteFurthermore, if NATO is not scrapped, we shall see Russia becoming a full member not before long. [The Polish leader plane crash] will encourage Poland to be more cooperative in the new direction. What is in store is a re-run of history with more modern means. This all quite interesting." In an exchange last week, the German banker contact revealed that June 30th of 2011 is the date set in the construction of the Northern Euro, in the documents, in the formal support mechanisms in the FOREX and commodity markets, and in the contractual agreements with member nations tied to their central banks. The new accord will involve more autonomy, enforcement, and activity by member nation central banks in maintaining the balance among the Northern Euro, the Latin Euro, and other major currencies. Gone will be the bureaucratic Euro Central Bank, the centralized body located in Brussels Belgium . Although the German Bundesbank is the lead dog in the EuroCB sled, the central bank has been highly politicized. The new Northern Euro currency will be jointly managed. Strong cooperation has existed for decades between The Netherlands and Germany . The Benelux natios will partner for lead control of the new Euro. Expect the Northern Euro to rise in valuation strongly upon its launch versus the USDollar, something like 20% to 30% over three to six months.
ReplyDeleteExpect the Latin Euro to fall in valuation, something like 20% to 50%, really, over three to six months. Pay close attention to the role played by Russia and Gold in the Northern Euro currency in the plan. THE NEW NORTHERN EURO WILL EMERGE FROM THE EXISTING EURO CURRENCY, BUT WITH A GOLD COMPONENT. When pressed on the launch date, the German banker said no formal announcements ahead of time are being planned. It is expected in 14 months, with little advanced warning. My view is that crisis events could dictate an earlier launch, or at least more formal news of its imminent launch in order to achieve some greater currency stability. What is really needed is 'When Issued' Northern Euro and Latin Euro currency trading vehicles. The new Northern Euro will provide intense, sudden, and powerful competition for the USDollar. When the New Euro arrives, the USDollar will resume its deep long-term decline. The US $ has benefited undeservedly from the Euro distress and disruptions in the perverse and vicious Competing Currency War. When the Northern Euro arrives, especially if it contains key commodity components like gold and crude oil, the US $ will suffer immediately enter a crisis stage. A run on the USTreasury Bond would then be extremely likely. The sequence will define the monetary crisis toward climax. ◄$$$ SOME HALF-BAKED FALSE START WAS REVEALED BY GERMAN CHANCELLOR MERKEL, ON A NEW EURO CURRENCY HATCHED IMMINENTLY. THE KEY TO BE AWARE OF IS MERKEL WALKS AS A LAME DUCK, SOON PHASED OUT. HER ADMINISTRATION DOES NOT CONTROL THE CURRENCY TABLE.
ReplyDeleteAnd then there is this...
ReplyDeleteChinese Gold Rush
Chinese Company Linked to Sears/K-mart Sheople Gold Fleecing?
Holy crap. I've been reading about what might happen with hurricanes and all that oil being sucked up and sprayed everywhere on land at 70mph+.
ReplyDeleteGeezus H Christ it MAY be the most horrific mess we've ever seen. Will make Katrina look like a walk in the park.
Our economy is balancing on crap right now. The oil gusher - not a 'leak' like the banker media is calling it - may actually be the event that pushes us over the cliff.
@6:04-6:10
ReplyDeleteThanks for sharing that interesting rumor...EU would in effect 'break up' while maintianing the fascade of a common currency and unity. Do the EU banks even have substantial quantities of gold to effectively back a new currency? But then again, even a little is better than nothing like the US Dollar....