Friday, October 28, 2011

Sigh of relief in Europe

Nicolas Sarkozy threatened to take the shine off a day of jubilation in financial markets at a deal to rescue the Eurozone when he said it had been an "error" to allow Greece to join the euro a decade ago. Fears mounted Wednesday that Europe’s debt crisis is reaching a critical tipping point, spreading from Greece, Ireland and Portugal to the larger economies of Italy and Spain. In 2008, the market struggled to value an almost unfathomable $15-trillion (U.S.) of real estate loans while property prices were collapsing.The leaders of France and Germany said Sunday that they had made progress in bridging their differences over a wide-ranging strategy to combat Europe's debt crisis but that the "mind-boggling technical complexity" of the task meant they needed until midweek to finish preparing their plans.More Here...


  1. Sorry, but nothing really got solved. The plan is to bring Greece's debt down from 180% of GDP to 120% of GDP, which isn't sustainable either.

    Meanwhile almost half of Greece's young people are unemployed, and the people who do have jobs are being asked to pay more to save the banks. Instead, they should let the banks fail and save the people.

  2. yep nothing got solved and they've created other issues now. kicking a can full of worms..the worms eventually come out. so CDS is worthless? greece CDS is somewhere around 3.5 billion, but if no default finding by panel-worthless. what about all CDS then? yet if default finding-payout the 3.5billion-and continue income stream from the entirety of CDS market-100's of billions, some thinking the CDS market would ramp up in use if default was found with greece haircut. problem is the future, if in gaining the entire CDS market generation what if some other nation defaults, a large one like italy..? loloo. worms, good for the soil, fishing too..bad for the economies to be based upon. it's a suckers play, yet not involved with such things most think, safely tucked into 401k's and IRA's and pension funds the tentacles of leverage and derivatives and payouts based on some grand future promised income touch only derivatives?..or all money within the system? what is sound money? why is money not much sound anymore? are undue risks placed, with approval, within the system? leverage, fractional reserve fiat, promises to pay from future income based on hoped for GDP and income and since hope is gold they leverage based on that..crazy thing they've made huh.

  3. gold is money

    they bought another 6 months maybe 8

    then gold 2500 and a new usa president

    this is a joke nothing signed only promises

    and everyone is happy
    is it me or a big collapse is right around the corner

    god gold guns


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