Greece & Portugal downgraded to junk status by S&P-This morning!!!

Mounting fears that the debt crisis in Europe is spiralling out of control

LONDON - Europe's government debt crisis worsened ominously Tuesday when two financially troubled countries — Greece and Portugal — saw their credit ratings downgraded as markets sold off their debt. Stocks slid on the news. Greece was downgraded to junk status by Standard & Poor's, which lowered Portugal's rating as well. The downgrades come as Greece is appealing for 45 billion euros in bailout loans from other eurozone governments and the International Monetary Fund.

A debt downgrade immediately preceded Greece's call for help last week. While Portugal has less debt, economists have focused on it as the next possible victim if concerns over high levels of government debt in Europe spread.

Source: www.msnbc.msn.com...
[atsimg]http://files.abovetopsecret.com/images/member/a09d1949e9e7.jpg[/atsimg]

I think the picture of this flag is a good indicator as to the wealth health of Greece and other who WILL be following soon. The world better get a grip because the bad times haven't even stated yet.

This is how the IMF/WB control national policy.

First they give you huge loans you cannot possibly repay. (And make sure your government is stacked with THEIR CRONIES thus 100% chance the nation accepts the Loan).

Than, when the loan cannot possibly be repaid, the "Greece incident" will happen, where everything goes to crap like this.

And; the final knock out punch.

They will then agree to WAVE (Forgive) the DEBT under 1 condition.

That the nation change it's Laws and Policies to fit the IMF/WB agenda.

This is how they do it everywhere its tried and true proven to work efficiently.

Check out Confessions of a Economic Hitman and other related information. It's a real eye opener.

Starred and flagged.

We need to put an end to the IMF-WB because they are using loans to usurp and take over governments one at a time.

It's Imperialism through economics, essentially.

reply to post by anon72


You know I just see this crisis in Greece as forshadowing the future of the US. Greece is broke, but still the people demand their entitlements, pension, and overblown union wages.

Here we are broke, and our government makes healthcare an entitlement, even though everyone knows we cannot afford it.

Why cant we just be responsible, admit that we are in debt, and face the pain of fixing the problem before it worsens? But no, we just keep adding to the pile. It as if our government is a scorned wife running up the family credit cards buying new dresses to fix her self-esteem issues.

reply to post by BoneyMaroney


That is exactly right. We, the USA, should be looking at these countries and learn from their mistakes-NOT expand on them.

Like I said, the bad times haven't hit yet-more pain to come.

reply to post by BoneyMaroney


HCR is not an entitlement is slavery, we have been serve to the private insurance companies by mandate.

US prints money so regardless of economic crisis as long as the rest of the world take our dollars we just keep printing.

As long as the biggest financial power houses keep manipulating the American Government this nation will not be downgraded.

A nation like America that has nothing else of value but its powerful military that is also enough leverage for now.

Just to make a correction:
Portugal was downgraded but not to junk as Greece.

Starred and Flagged

Didn't Greece just get a bailout loan 3 or 4 weeks ago from the PIGS???? Or am I dreaming, so much happening in the world to keep track of these days. Thanks for the post.

cheers

Originally posted by BoneyMaroney
reply to post by anon72

 

You know I just see this crisis in Greece as forshadowing the future of the US. Greece is broke, but still the people demand their entitlements, pension, and overblown union wages.

Here we are broke, and our government makes healthcare an entitlement, even though everyone knows we cannot afford it.

Why cant we just be responsible, admit that we are in debt, and face the pain of fixing the problem before it worsens? But no, we just keep adding to the pile. It as if our government is a scorned wife running up the family credit cards buying new dresses to fix her self-esteem issues.

That will not work, because of the way that the Rothschild-owned central bank system works. They loan money to the government, which them loans it to the banks, at interest. This means that the amount of money circulating will always be less than the total debt if you count interest, so the debt can only increase. It's part of their plan and it's working perfectly. The only way to end the cycle is to get rid of their central banks and have the nations' treasuries start printing their own money again. Of course, Abraham Lincoln and John F. Kennedy tried that, and look what happened to them.

reply to post by nothing_pt

You are correct. I re-read the story and I see that they were downgraded. Good eye and a well deserved star also.

But, it will only be a matter of time before they and a bunch more are no more than Junk rated.

Greece is the little horn ,which will brake the european economic union.then watch for 4 alliances created,...

reply to post by BoneyMaroney


Maybe.. but the biggest difference is.. well the USA can print money to lower the actual amount of debt (inflate the currency) .. granted it's a last ditch attempt to float an economy, it is more effective than bankruptcy. Greece cannot print it's own money.. it doesn't even control it's monetary policy, only economical. In effect Greece was strangled by the EU's grasp on the Euro because as the economy slipped, Greece could not reduce it's debt through inflation.. it was effectively choked to death.

reply to post by Rockpuck


Sir, you are the first one that actually made the case to the point where a layman like me can grasp what is going on over there.

I didn't know they weren't able to print money etc. I hope more info can get on this particular topic-either from you or another esteeemed ATS member.

Any one beg to differ with the assement made by Rockpuck?

Originally posted by BoneyMaroney
reply to post by anon72

 

You know I just see this crisis in Greece as forshadowing the future of the US. Greece is broke, but still the people demand their entitlements, pension, and overblown union wages.

Wait a second you forgot to add the UK to the list.

Yes europe has trouble but the UK is in just as much debt as greece who can turn towards not just the IMF but Germany for help.

Saftey in numbers and who cares if euros move from banks in greece to bank in Belgium.

everyone lied apart from Germany to get in the euro, we know it everyone knows it and at times like this these lies get mentioned but in the UK they are more in control of these lies because all sides of goverment sleep in the same bed but when it's the UK turn it's going to drop like a stone.

down the road at some point the Euro/£/USD will all go into meltdown on the same day and this will take a few more down but some will survive and it is these we should be moving towards.

maybe the term hung goverment will do what it says on the box.

Originally posted by Rockpuck
reply to post by BoneyMaroney

 

Maybe.. but the biggest difference is.. well the USA can print money to lower the actual amount of debt (inflate the currency) .. granted it's a last ditch attempt to float an economy, it is more effective than bankruptcy. Greece cannot print it's own money.. it doesn't even control it's monetary policy, only economical. In effect Greece was strangled by the EU's grasp on the Euro because as the economy slipped, Greece could not reduce it's debt through inflation.. it was effectively choked to death.

It would be criminal oversight on their part if they didnt know from the beginning this is where they would end up. The math just didn't play out. They've been desperately holding the wolf by the ears for decades now. Looks like the wolf won.

Greece brought down by...

FRONT RUNNER Market Manipulation

This edition of Press TV On The Edge may just push you OVER the edge. There is a mechanism that enables market manipulation at such a scale, that it can literally bring down large companies or banks, and can even destroy NATIONS. Greece is one example, with more to follow.


Here are a few videos segments detailing this process of flooding markets with order to provoke a collapse. The interview is dedicated to describing the mechanism used called
"High Frequency Trading", and I direct you to the end of the first segment and beginning of the second which more specifically mention an organized market maker collusion against Greece. All it took was for "Someone" to issue the order to Fleece Greece.



Max Keiser interviewing Ellen Brown - part 1




They go on to reveal a few more nasty tidbits that give cause to step back, or get darn pretty angry at what has been purposely structured into place to allow an opaque exercise of power and theft of capital while destroying whatever target they wish. Things don't just happen by accident.



Max Keiser interviewing Ellen Brown - part 2




It appears that there has been a purposeful warehousing of the existing transparent "Market to Market" technology - one which would prevent trading fraud - so that the current system remains the only alternative available in order to perpetuate the financial devastation until total collapse.



Max Keiser interviewing Ellen Brown - part 3




If you don't like paying your credit card interest at rates often well above 20% it will certainly comfort you to know that banks aren't facing such hardship, with their own borrowing rate set by the Federal Reserve at the one hundred times lower rate of 0.2%. So thank goodness your hard earned dollars really actually do go somewhere, and don't simply vanish into thin air. Apparently only North Dakota is the only State which has its own bank allowing the taxpayer access to the same low rates as the private banks. Why don't the others? Ask your governor.


GS


[edit on 9-5-2010 by Getsmart]

reply to post by Getsmart



Thanks for the videos!

You should put these videos in a seperate thread where you explain this fraud of High Frequency Trading against other nations - done by Goldman Sachs and others on Wall Street.

I have been trying to explain this in many posts here already!

This is actually economical WARFARE and an act of war against Europe.

And they are now seriously discussing in Europe what their response to this will be.

The rest of the G20 countries made it very clear to the Obama administration at the latest G20 meeting in Washington in late April - the European countries and the rest of the G20 countries are not accepting that this is allowed to go on, anymore!

I heard from a lady friend who is working in Brussels for the EU that the U.S politicians didn't have enough knowledge about this warmongering actions and modus operandi of GS, and that they were quite surprised when this act of war & economical warfare against Europe was explained to them!

The top EU countries and Russia and China explained to their U.S counterparts that this is not acceptable behaviour from the U.S during the finacial crises, having Mafia style financial institutions on Wall Street waging financial warfare and sabotaging every effort made by the Europeans and G20 to find solutions to these problem during the crises.

So the pressure is high on this administration to reign in Wall Street OR the rest of the G20 countries would be forced themselves to take drastic measures against the Wall Street finacial institutions who are now operating in London and rest of Europe.

Several Banks in Germany has already cut their ties to Goldman and the boycott could be spreading to other Banks and other countries if the U.S administration didn't act on this quickly.

So while Greece was brought down this way and is in serious troubles, we are now having greedy corrupt American finacial institutions waging economical warfare against European interests, and are making the situation for Greece worse every day.

And this is both quite bothering & interesting and scary at the same time, because what the financial institutions now actually are doing - IS AN ACT OF WAR against Europe.

Well! it's going to be very interesting to see how they will solve this troublesome dilemma of diplomacy if the U.S is unable to reign in their own Wall Street?

Will the rest of the G20 countries put these American firms from the Wall Street under a temporary ban here on the European markets?

Will they strike back against Wall Street in any form with new über hard regulations - or in any other way?

Will the European Elite and the really wealthy European Banks & financial institutions and rest of the G20 countries stop these warmongering criminal financial institutions and the corrupt Rating Agencies from what they're doing?

Interesting times indeed!

The one thing I dislike the most, is that our retirement money funds are continuously under fierce attack by fraudulent companies as Goldman Sachs & Co - that has to stop!

And these outright economical attacks from Wall Street on other nations are nothing else than an act of war - that also has to stop, today!

I wonder what the American public would say if all of the G20 countries was waging economical warfare against one of their own states which are on the brink of bankruptcy?

Imagine if we in the rest of the world was concentrating our efforts on taking down either California or the Michigan State?

Maybe that's the only way to strike back? to forget about being gentlemens & allies in these crises?

Should we instead consolidate all our collected financial means to bring down and be betting against one of their financially troubled States with the same unmorally behaviour and vile action as they has done to us?

Would that make any difference? would that make the American public upset & angry?

Would they then vent their anger & frustration against Europe and the rest of the world on public forums like this one?

In some sick & twisted way I could enjoy seeing such a scenario happening! If only for having the pleasure of seeing the incredibly stupid insane spinning tactics, and what methods the American MSM then desperately would resort to, while trying to spin that action away in their efforts of brainwashing the public further with fairy tales!

But I would certainly not enjoy seeing and reading about the aftermath with broken families and all their small businesses affacted by such a scenario, nor be cheering about it with joy!

Hopefully!?

[edit on 9-5-2010 by Chevalerous]