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Toto deVeer

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Everything posted by Toto deVeer

  1. I keep hearing this argument that Germany wants lower exchange rates. I don't think that's what they are after at all. Germany, in the post WW2 period, has never has a penchant for low exchange rates. The DM never ceased to be legal tender. When Germany joined the Euro, they left in place the instruction that the DM must be accepted indefinitely. I think they would like to see Europe unwind, so that they may go back to the DM again. They seem quite content to just stand by and watch the show. Nonetheless there must be an almighty short squeeze in the works...
  2. "The Chicago-based grassroots organization National People's Action, in coordination with the SEIU, bused more than 700 workers from 20 states..." No doubt they were transported by taxpayer funds. The US is f**ked!
  3. Clameron? Shouldn't it be Cameleg? Just trying to be politically correct.
  4. Nonetheless I personally know a number of people who have gone 'all in' on interest only btl properties; their entire business model based purely on cg.... So far they've been celebrating the low interest rates... Which leads me to conclude that this is going to be really painful when interest rates begin to rise...
  5. Hahah...that's a good one... Liam Bailey aka Jean-Claude Trichet... Crisis? What crisis?
  6. Ofcom, is a front to protect the communications industry. Have you ever tried to get resolution of a complaint? It's a war of attrition, balance in favour of the industry, not the consumer. I have direct experience of one quango that doe absolutely nothing but feed unionized workers and make up stories about how wonderful they are.
  7. Statistically, house prices have generally appreciated more under Labour than under the Conservatives. Maybe that's because the Cons end up taking over the mess left by the Labs, and making the hard decisions to put it right again... All these proposals sound good to me. I've always hated the rent-seeking economy. Does nothing to improve the country.
  8. I think this is just the 'tip of the iceberg'. When real pressure is exerted on budgets (in a year or so), the quangos have got to be the first in line to get wholesale slaughter. People forget that in America, during the late 30's, FDR got so pissed off about high executive salaries that he tried to put a 100% tax on any earnings over $100,000 (1940 dollars). In the end he got a 95 or 98% tax, I think.
  9. But the markets represent underlying psychology. I was trying to explain this to my wife yesterday....as I see it, if the British pound and the British economy were to come under pressure, and it will, there is a shared culture, history and belief in the currency, that ultimately means survival. There is also now a shared political platform that strongly connects with the electorate. But in Europe, the people have been completely left out of the consentual process; they have had no say as to whether they wanted the Euro in the first place, and the only platform available to them is one of pain and suffering. There is no consensus nor is there a deep commitment amongst the rank and file European regarding the Euro. The only true consensus that exists in Europe is that of the blood-sucking EU bureaucrat in Strasbourg and Brussels; reminiscent of the situation in the Soviet Union just before it collapsed. Accordingly the rank and file Europeans, as part of the market themselves, are effectively amongst the most active 'shorts'; buying gold, dollars or other alternatives, shedding their Euros faster that fleas... Agreed, the large speculative players will use their power to try to influence timing, but the ultimate result will be determined by the markets; the psychology of the people. But the top-down statist elite EU bureaucracy still doesn't get it...and the rank and file European knows this...
  10. I agree, but creditors won't be a part of the solution. By using credit default swaps, the creditors now have the perverse incentive to push Greece to destruction. That is the crux of the problem.
  11. +1000. There is no conspiracy. Just markets. And ( pardon my French Sarkozy ) dumbass statist elitist EU leaders who think they can dictate to the markets.... Throwing a trillion dollars into the pot for the defence of the Euro is like pouring petrol on a raging fire...
  12. I agree. It seems that one of the things that Cameron wants to do is suppress the less moral aspects of the economy via taxation. This includes speculative things like gambling, synthetic speculative stuff in the City, and cheap booze in the supermarkets and clubs. I hope he's successful with this. Labour was trying to turn the country into a totalitarian gulag of immorality.
  13. To me, this statistic says it all: USA 2009: 9 million guns, 14 billion rounds of ammunition purchased. When I was a kid, I had an uncle over there who had his own armoury and could manufacture his own ammunition. They take things seriously over there.
  14. On the other hand, I bet that Kitco was delighted by the whole event. Anything to drive the price of PM's up...nice of them to come out all squeaky clean on this. Have you seen some of the 'fantasy' articles that are linked on their website?
  15. The European community was doing great as a trading block until the Euro came along. Under the present financial crisis they probably would have been in the best position, world-wide. In fact it could be argued that the current crisis may not have developed were it not for the Euro. It seems like the Marxists/Globalists crawled out from under their rocks after the fall of the Soviet Union, and took control of Europe in the 1990's, without the consent of the European people. Every time the people were given a referendum, they voted against it. So they stopped letting the people vote, except for the second vote in Ireland, whose population woke up one day and discovered horses heads placed in their beds... This top-down imposition of the state without the consent of the people is bound to fail under times of stress.
  16. I wouldn't go so far as to say it is pointless, the real news of the last couple of weeks has been the chaos in Europe. This rumour, at the source forum, has attracted almost 300,000 views and around 60 pages of comments; major news outlets including those in the MSM have picked up on it. The schedule was unfounded, but I think the core message is there; the increasing risk of Germany and/or France leaving the Euro. But, so far, there has been no announcement.
  17. Well I generally agree with you but I am less certain about Sterling. I would have expected it to strengthen more than it has and we will have to see what the general direction of government policy is in the UK before making predictions. However, it has varied between $2.10 and $1 over the last 30 years and could even return to parity again. As to the dollar's strength; well we have forgotten about China. As long as the China peg remains then not much has changed for the dollar. It would take some years for the PIIGS to develop a strong manufacturing/export economy under a devalued Euro. So I think that the dollar still has room to appreciate, as long as China follows. Remember Schiff talking about China decoupling? What nonsense! What instead is happening is that China and the US are decoupling from the rest of the world economy. And one big advantage is that the US can refinance all that long term debt at very low rates. [Edit] And Japan could be the next flash point. They are on the edge.
  18. Well, when you think about it, you are both correct and incorrect. This points out the stupidity of the recent comparisons of Greece to the USA. They are in no way comparable. A country that denominates it's debt entirely in it's own currency, like the USA, cannot really become insolvent. The currency may devalue, but it cannot be insolvent. However, countries elsewhere whose debts are in foreign currencies, like Greece, can certainly become insolvent. [Edit] This was one of the major problems in Weimar Germany; the debts were in currencies other than their own. The same can be said of Argentina.
  19. I gotta throw my vote behind Game_Over. Sterling is very vulnerable right now; if they (Coalition) can put their plans in place within the next 30 days or so, then Sterling should be OK. Sterling will decline, no doubt, possibly to dollar parity, but will otherwise survive. The Euro, however, if Germany stays , may disappear. And the UK does not need Europe to help them out; the London/New York finance connection should suffice.
  20. Nope. I'll never trust Anonymous Poster No 964812 at GodlikeProductions.com again. :angry:
  21. I read somewhere that Santander, with it's acquisitions in the UK, is responsible for 1 of every 2 new mortgages in the UK. Expanded too fast, house of cards. Check the InterAlpha Group...Brazil Rothschild connection... Speculation that Santander has been kept afloat by the Brazilian carry trade; maybe the currency collapse has done them in...
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