Wednesday, November 24, 2010

Europe a Financial Powder Keg

Europe is sinking ever deeper into a crisis of confidence that its leaders seem unable to stop, threatening the region’s political and social stability.
The debt troubles of the weaker links in the euro zone are snowballing, driving the costs of government borrowing even higher, forcing brutal cutbacks and undermining the common currency.
The planned European bailout for Ireland failed to soothe rattled markets Wednesday, and persistent defences of their solvency by Spanish and Portuguese politicians didn’t do the trick either.
Instead, worried investors fled in droves from troubled euro zone bonds, taking Spanish and Portuguese bond yields to their widest levels against comparable German bonds since before the adoption of the euro.
At the same time, Ireland’s embattled government unveiled a harsh austerity plan, angering its public, while Portugal was effectively shut down by a national strike similar to those that have played out in several countries.
More Here..

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  1. uh boy it does it now. people man hit the iceberg that breaks that batter. now you get to see heck with all eyes on anger. No money equals pay the piper. Europ will throw the rich into street and give em old slapperoo of 1 thousand people. in the usa we start praying thanking god for dinner. families gether up, bad stuff coming are way folks.

    - Sam

  2. 12:27 "No money equals pay the piper."

    A Sam-quote worth repeating.

  3. US Congress about to pass law that if a meltdown should occur during an episode of Dancing With The Stars or American Idol,
    The meltdown shall be moved to another time slot.

  4. Sam = The Yogi Berra of our time.

    No Sam I didn't say "Yogi Bear" or "Pic a Nik a Baskets!"


    DECEMBER 7, 2010

    Manyy if not most European countries may have Bank Runs planned by the public to protest the
    corruption of the Banking system.


    And if more that 10% of deposits are removed then does not the Bank fail because the fractional reserve banking system only requires 10% reserves?

    Maybe some of those people will spend some of their money on silver or gold. Helping Max Kaiser's crash JP Morgan silver manipulation.

    Hmmm lets see how much interest is your Bank paying you? Less than 1% interest and silver has gone up 20% or more this year.

  6. Last year, I bought 450 oz of silver at $22.00. It's now close to $28.00. I find that a much better return than the .003% return offered by my bank.

    I also bought gold at $1500.00. Guess that will take bit more time.


Everyone is encouraged to participate with civilized comments.