Greece Shutdown by Nationwide Strike (Oct 5)

reply to post by Convicted


You know, we in America are in worst situation than Greece because our debt if greater and not way to get off of it, things will get very hard in this nation, oops we already are, I forgot unemployment is at record highs we have lost most of the middle class and we are falling into a working poor, and we need to borrow more money to add to the national debt in order to create more jobs, remember that is what stimulus are, more debt to create jobs but it has failed. In order for the government to keep working it has to increase the debt.

But the crocks in the Fed and the boses (Goldman Sach) spend trillions lending money to keep other countries in more debt Throught the IMF.

reply to post by Convicted


My friend the debt of nations is the result of governments gambling with the nations wealth in order to create wealth for the bankers Central banks business is to in debt nations so they can profit.

But that worked for a while, until the corrupted Gambles in the US (Goldman Sach) made a mistake bringing the markets down with the dirty derivative business, Every bank and nation that were gambling on it fell down the crapper.

What you see now with the EU crisis is the domino effect of the 2008 market mortgage crash that the US started, all those derivatives are still circulating around and more has been created because is a vicious cycle that the Market gamblers can not get off of it.

What the nations government do they create more fake money to counteract the damage, but is not working, because fake money is just that fake money with no real wealth to back them up.

Is not the populations that are the problem is the Gamblers in the Markets.

reply to post by marg6043

So yes, is money been moved around as we speak, we just get the debt to carry on for generations.

i think they're going for a riskier gamble than adding more debt. i think some group, maybe the fed, is propping up the markets with money that is made out of thin air, but it isn't a loan.

borrowing money with interest, then handing it out to people as a stimulus package won't work, as more debt is created. what if the fed is simply giving out free money to keep the markets afloat knowing that it won't ever be paid back.

essentially, its printing money out of nothing, and as long as businesses and people don't realize that the value of the dollar has diminished, they won't know to raise their prices against the inflation.

if everyone accepts the money with no knowledge of the inflation, they won't account for it. trouble is, the amount of money needed to prop up the markets will have to start showing soon. money will become worthless overnight as people realize the money supply has dramatically increased, so what they have is worth much less.

Originally posted by DangerDeath

Originally posted by Convicted
reply to post by DangerDeath

 

Can you please explain that or go into more detail?

Second line.

No. You explain to me the whole Ponzi scheme in America and the rest of the world, trillion dollars bailouts for banks, etcetetera.
Is that the fault of people or the scum high up in their untouchable and too big to fall castles?

LOL, here is the truth. The government sold FDIC insurance to the banks. If the banks would have failed we would still have had to pay out tons of money to the depositors. So the government was on the hook either way. This is what happens when government decides its their job to interfere in everyones lives and businesses.

I suppose they chose the lesser of two evils. First being Chaos then massive payouts, the second being just massive loans to the bank, which are meant to be repaid.

People will in most cases use the credit that is offered to them. But, then, someone outsources the industry, people lose jobs, and BANG! It's capitalism at its best People get kicked out of their homes, their dreams. Get outa here! What about those who changed the conditions of working class? They are free to do whatever they want? Like no one else existed? This is clearly leading to a big show off.

reply to post by Bob Sholtz


Supposedly, the Fed can not order more printing from the Treasury, because that was only under the Q2, we are now in the Fed "twist" mode, no more printing and money has to come from Government cutting into existing established budgets to finance anything new, is like a forced balance the sheets or else that is why congress do not want to pass the last stimulus, because it will mean cutting into their already allocated pork.

But what it gets me is that the incredible unaccounted amount of money that the Fed is utilizing in swabs or loans through the IMF so far 16 trillions, this money has to come from somewhere but where we the tax payer and voters are not privy to that knowledge, neither congress or the President that is how much power the Fed have.

Originally posted by DangerDeath
People will in most cases use the credit that is offered to them. But, then, someone outsources the industry, people lose jobs, and BANG! It's capitalism at its best

People get kicked out of their homes, their dreams. Get outa here! What about those who changed the conditions of working class? They are free to do whatever they want? Like no one else existed? This is clearly leading to a big show off.

Well if people choose to run up debt they can no longer pay then it is their own fault for borrowing money at a high interest rate. Do you think banks want people to foreclose? Do you think its good for banks who actually put out the money for peoples houses for property values to drop?

If capitalism, which has created more wealth and created better living conditions than any system in world doesnt work, what do you suggest?

Originally posted by Convicted

Originally posted by DangerDeath
People will in most cases use the credit that is offered to them. But, then, someone outsources the industry, people lose jobs, and BANG! It's capitalism at its best

People get kicked out of their homes, their dreams. Get outa here! What about those who changed the conditions of working class? They are free to do whatever they want? Like no one else existed? This is clearly leading to a big show off.

Well if people choose to run up debt they can no longer pay then it is their own fault for borrowing money at a high interest rate. Do you think banks want people to foreclose? Do you think its good for banks who actually put out the money for peoples houses for property values to drop?

If capitalism, which has created more wealth and created better living conditions than any system in world doesnt work, what do you suggest?

I think banks are just tools, the "mind" which uses banks and people is somewhere else. Then, why banks at all? People used to be realistic for a long time before this gambling banking scheme was introduced several decades ago.

Ask yourself about better living conditions. At what price was that created? You forget how much of riches were taken by force and not in a very gentle way from the third world.

Modern capitalism, as it can be seen right now by simply looking out of the window - is too expensive to sustain itself. Where will it get enough means to continue this blasting rapturing ascension? More wars, more misery for those who weren't clever enough to get born in America or Switzerland...

reply to post by DangerDeath


So what do you recommend?

You must realise that in every system their are winners and losers. At least in capitalism a person has some control over their fate. Not complete control, just some. That is different than say communism, where you only get a chance if you are part of the ruling class.

"Occupy World" has begun. NWO soon.

reply to post by marg6043


Today, they are talking about more QE. It was off the table last time Bernanke spoke a month or so ago, but apparently it is back on the table now? Obama wants his $450B, and now Treasury/Fed thinking about another QE. I don't know what QE number we are on now?

There is a thread somewhere in the last few days where the same guy that predicted September 08, is now predicting Oct 24, 2011 for a big crash. We'll see if he is right again!

reply to post by getreadyalready


The only way they can "print more money" (actually is the Fed buying more new treasury bonds) is if the government raises the debt ceiling again. But the also have the optiong to sell existing bonds in the open market.

I wonder how this is going to be done, creating new bonds or selling bonds.

The reason for this is that none of the congress members wants to compromised their pork in any way.

So there you have it, more debt on the backs of the tax payer, (or whatever is left of the income earners in the nation), because only those that work and pay more taxes that they get in return are true tax payers, anybody that receive the same amount of taxes that they pay are not paying into nothing they are the working poor.

Taxable income has decreased incredible since 2008.

Originally posted by getreadyalready
Amazingly, the EU financial markets are up for the day? Even while IMF leaders are trying to figure out how to save banks heavily invested in Greece, and the strikes are because of 30,000 potential jobs lost, yet the markets are responding favorably? How Odd?

‘Worst Circumstances’
“We are at the worst circumstances under the worst conditions,” Finance Minister Evangelos Venizelos said at a news conference in Athens yesterday. “We are dependent on the aid and loans of our institutional partners. That is the situation of the country. And we must make superhuman efforts to win this wager of history.”

The ASE stock index rose 1.7 percent today at 1:36 p.m. in Athens after tumbling 6.3 percent yesterday, the most since May 2010. The yield on Greece’s 10-year bonds climbed 10 basis points, or 0.1 percentage point, to 23.2 percent, more than double the rate on July 21, generic pricing for euro-denominated securities shows.

The government is dependent on outside financing as the economy contracts and the unemployment rate stands at more than double Germany’s. The Greek state, which employs about 750,000, carries a debt load that will reach 356.5 billion euros in 2011, or the equivalent of 161.8 percent of gross domestic product, the highest in the EU and three times the ratio of Poland.

The 24-hour strike shut the Athens International Airport, causing 448 flight cancelations, and shuttered schools and archaeological sites to protest Papandreou’s plans to put 30,000 public workers on reduced pay, raise property taxes and cut pensions and wages in a bid to win European Union financing.

Bloomberg Source

edit on 5-10-2011 by getreadyalready because: (no reason given)

It's just somebody playing with the numbers again

No seriously...stinks incredibly of fraudulent market play. Watch tomorrow when the SHTF...I smelled this coming on close Monday 10/03/2011! By Friday....whatch out I know what...it's the top of Q4 and the Fed better throw a Hail Mary...because their running game is over!

This is an incredibly awesome thread BTW!

S-n-F

ETA
I'm referring to our (US) market, they're all in cahoots anyway.

reply to post by marg6043

hmmm..did not know they can't print more money currently. does that include creating electronic money? honestly, i think they pulled that 16 trillion out of nowhere.

the money to keep the markets up has to come from somewhere...

reply to post by getreadyalready


Now if we could get this in America, would do so much better than some stupid protest. You would stop feeding the war machine

The first example or domino WAS wall street and the protesters there! Epic let's see what happens next

reply to post by Bob Sholtz


I wonder also that is why is so much secrecy with the Fed, they are after all a private owned entity they can raise money in many ways, they do have a steady income from all the banks that falls under their "wing" so they do not necessarily have to print anything or order the Treasury to do it, they have funds already available

This link tells the many ways that the Fed can raised capital, you are right the money is nothing but in many instances electronic swaps.

The Creation of Money by Banks and the Fed

Creating Money through Open Market Operations

The Federal Funds Market

Creating Money through Repurchase Agreements

Multiple Expansions of Money through the Reserve Multiplier

Creating Money through the Discount Window

Creating Money through the Term Auction Facility (TAF)

www.ncpa.org...

When an entity like the Fed can come out with all kind of schemes to create money they are accountable to nobody/

Greece,is just the first to go down...If they fall, a whole pile of others will be sliding further down the slope.
I see the eurozone as pretty well finished.
they limp along a while, but the nails are in the coffin for the euro.
when widespread bank failures start you know its true........................

Originally posted by ColCurious
This is how you pronounce "No." with one voice.

There are lessons to be learned from this...

edit on 5-10-2011 by ColCurious because: (no reason given)

No to what? They brought it on themselves for crying out loud. If you mean what I think you mean, then you have absolutely no grasp whatsoever of what lead to this........

I don't feel sorry for Greece, but I do feel sorry for the folks who don't understand what is really going on.

reply to post by MainLineThis


Enlighten us please, I will like to know how the population force the government into economic crisis they are in.