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The Ayatollah Buggeri

Bbc R4 'in Business' Tonight

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Caught the programme on the drive home from work this evening. Although there was still the strong BBC patrician socialist undercurrent implicitly arguing that the collapse of the euro would be a bad thing and that it should be saved, what startled me somewhat is that this scenario is - theoretically, at least - on the table. In particular, uninterrupted airtime was given to one expert to develop the argument that monetary union without political union was a flawed idea from the outset.

One striking aspect was that the show discussed, in a matter-of-fact way, the step-by-step process that might happen if Greece were to secede from the euro. Does this indicate that the powers that be are admitting defeat, realising that the euro is finished, and are starting the softening up process with the likes of relatively well educated R4 listeners? Even if that is a bit of a conspiracy theory, it's worth a listen, at any rate.

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Caught the programme on the drive home from work this evening. Although there was still the strong BBC patrician socialist undercurrent implicitly arguing that the collapse of the euro would be a bad thing and that it should be saved, what startled me somewhat is that this scenario is - theoretically, at least - on the table. In particular, uninterrupted airtime was given to one expert to develop the argument that monetary union without political union was a flawed idea from the outset.

One striking aspect was that the show discussed, in a matter-of-fact way, the step-by-step process that might happen if Greece were to secede from the euro. Does this indicate that the powers that be are admitting defeat, realising that the euro is finished, and are starting the softening up process with the likes of relatively well educated R4 listeners? Even if that is a bit of a conspiracy theory, it's worth a listen, at any rate.

No big surprises here. It seems fairly common place that the news reported by 'conspiracy and crackpot websites', like Zerohedge for example, ultimately appears in the mainstream news a few months or years down the line.

But yes, euro collapse is coming, it's just too big now for even the mainstream to keep ignoring without losing credibility. I wonder how long it will be before they start discussing dollar and sterling collapse openly?

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Can someone correct my thinking here, if it is wrong.

The ECB isnt allowed to print or generate new money?

Except the ECB can lend new money against collateral, money that it generates. That money has to be repaid.

If the ECB makes a loan, say against Greek collateral, it expects that to be repaid.

If the borrower of the loan from the ECB goes bust, and the Greek bond also became worthless, the ECB intervention has now released a lot of new money into the world. The ECB becomes technically insolvent of course, but the money it has created is really owed to nobody, and the price is paid by the holders of Euros everywhere who have been diluted due to the new Euro's.

And from what I can tell, this chain of events is going to occur in a massive way.

I wouldnt like to be holding Euro's.

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I find it utterly depressing that it takes our ruling elite at least 5 years to realise what was blindingly obvious from the start.

:blink:

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I find it utterly depressing that it takes our ruling elite at least 5 years to realise what was blindingly obvious from the start.

:blink:

They know the score. But short-termism rules. As long as they get elected and get their little go at the trough, then that's all they care about. And if they can make their past mistakes come to full-blown fruition on the other party's watch, thus landing them with the blame from an ill-educated and misinformed public, then all the better!

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I find it utterly depressing that it takes our ruling elite at least 5 years to realise what was blindingly obvious from the start.

:blink:

ALL politicians and vested interests know that eventually it will all come tumbling down. Their policies are thus (although veiled) to loot as much as possible and to delay the collaspe as long as possible so they can carry on looting for as long as possible.

When the reset comes guess what happens, the major looters will be the Oligarchs as in Russia.

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It seems fairly common place that the news reported by 'conspiracy and crackpot websites', like Zerohedge for example, ultimately appears in the mainstream news a few months or years down the line.

Yes it's quite disorientating when the MSM comes over all breathless and excited about something that you have long since just accepted as a background reality- but- if the tin foil hat fits..... :D

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'Financial Planner' aka Jonathan Davis, he was the HPC spokesperson. I think he still posts here, but under a different pseudonym, for his privacy.

Oddly I find it hard to distinguish between Jonathan Davis and Hugh Hendry on the radio. They both have similar accents, and are both pointing out that the emperor has no clothes on.

That's meant as a compliment..

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  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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