Thursday, January 28, 2010

A trigger…

Funds flee Greece as Germany warns of "fatal" eurozone crisis

''Germany has caused a near-panic flight from southern European debt markets by warning that there will be no EU bail-outs, even though it fears the region's economic crisis has turned dangerous and could prove "fatal" for the entire eurozone.''

Posted by hpwatcher @ 09:37 PM (3901 views)
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8 thoughts on “A trigger…

  • You never know it could be the trigger. Interesting comments at the end of the article.

    Seriosly beginning to wonder if you wouldn’t be better off entering a further financial crisis with substantial debt.

    I’m sure whatever further rescue plans are put into place they’ll still favour debters at the expense of savers.

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  • If investors abandon the euro, where will they flee to? My vote (and my money) is on a dollar resurgence.

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  • general congreve says:

    @2 – They’ll flee to the dollar initially, but when people think about what they’ve actually done with their wealth, i.e. given it to a bunch of chancers who are going to print it’s value away, they’ll be a big change of heart. But where will they run to? Towards the light at the end of the tunnel! The bright shiny yellow light!!!

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  • This is why Sterling is doing a bit better right now, because the United Kingdom is not in peril of breaking up. Big deal. But for sure, when countries go back to their old currencies they will have to back them with real assets, and they have less now than they had before. Central banks have been selling gold, hand over fist, so are in dire straits. The Euro may not last for long. Dublin used to have cheaper beer than England, its now over 7 Euro’s for some pints in central Dublin, in standard pubs. 5 Euro’s was the cheapest we could find, at that is £5.50. We also travelled recently to Austria, it was the same story, everything was expensive. Capitalism can only handle so much inflation.

    Will The Euro descend into a deflationary collapse? Or will the establishment panic and print their way into hyperinflation? Either way, you may want to get a one way ticket to an African village with a pile of gold coins, because things are looking nasty. Me? I’d head to Swizerland and work on a farm there, because every male over 18 is armed to the teeth, by law, with military rifles that can destroy anything in 400m, so they won’t have civil strife, because nobody will break into a home there unless the people are known to be on holiday. If I can’t make it to Switzerland, I’ll try to get to the third world. One thing is for sure, once this happens, the establishment will attempt to have a huge war to distract attention and avoid revolution, but false flag events have been exposed, so will they get away with it? That could be up to YOU.

    Gerald Celente discusses with Judge Napolitano about the crisis and his fears that war will be the end result.

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  • Looks like they have chosen hyperinflation. The issue is not Greece, the issue is what they do to “save” Spain, i.e. keep it in a death grip:

    EU signals last-resort backing for Greece
    By Tony Barber in Brussels and David Oakley in London
    Published: January 28 2010 19:42 | Last updated: January 28 2010 19:42
    The European Union made clear on Thursday it would not abandon Greece and let Athens’ mounting debt crisis jeopardise the eurozone, even as Germany and France played down suggestions they had already formulated an emergency rescue plan.

    “It’s quite clear that economic policies are not just a matter of national concern but European concern,” José Manuel Barroso, European Commission president, told reporters in Brussels.

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  • freemanphil

    hyperinflation is a currency event that happens in a deflationary collapse.

    As strange as it may sound, it doesn’t happen in an inflationary environment.

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  • hyperinflation is a currency event that happens in a deflationary collapse.

    As strange as it may sound, it doesn’t happen in an inflationary environment.

    No problem then, as there isn’t any deflation.

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  • “hyperinflation is a currency event that happens in a deflationary collapse.”

    NO, hyperinflation occurs in an inflationary explosion that is engineered to avoid deflation. It is theft from savers and entrepreneurs to bailout borrowers and speculators. It destroys capital to protect debt. It is thus a partnership between corporations and government. This is the definition of fascism. Corporate Fascism or Corporatism, or Crony Capitalism to be exact. It has never worked in the past, and they tend to take a country to war to avoid revolution.

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