P.I.G.S.

It's offical we are no longer an Independent State.

The European Commission has said it regrets embarrassing leaks from the Government’s budget plans to save €3.8bn.

Proposals on a 2% VAT rise and a flat rate €100 household levy were inspected by a German parliamentary committee this week as Taoiseach Enda Kenny held talks with Chancellor Angela Merkel.

A spokesman for Olli Rehn, European Commissioner for Economic and Monetary Affairs, confirmed officials in Brussels sent the Budget 2012 document to finance ministries in all 27 EU states.
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Read more: http://www.breakingnews.ie/ireland/...t-leaks-regrettable-528842.html#ixzz1e3UnJj2l
 
Bread and circuses for the masses, not totally sleepwalking into an iphoned, Kindled, and Tabletted trance, as some know what the game is (ie the tented barbarians at the gate), but everything you ever felt concerned about during the 60s and 70s as the USA encouraged fear and loathing throughout the Western world is coming around.

Nostradamus foresaw the end of the world as we know it brought about by a man in a blue turban. Not a bad try for his time: I think he was just a few vowels and consonants adrift. More like guys in a blue Suburban.
 
I think its a bit strong to blame the USA of the 60s and 70s for the greek debt and eurozone crisis
 
Well, I felt concern about the motives and goals of the Bilderberg cartel back then, clivex, and it would appear that its proponents are very much alive and kicking in what has come to pass, which is exactly what David Rockefeller doesn't so much hint at but trumpet loudly. We are ruled by banking dynasties, not governments, which are subservient to their wishes - especially when running election campaigns that require a huge amount of funding.

I don't think it's a 'bit strong' to blame the disasters of US primes, Bernie Madoff, Lehman Brothers et al in having a rolling effect which has wormed its negative way into all aspects of European banking. Unless you think that one is divorced from the other. No monetary system operates in isolation. (Well, probably North Korea's still does, but I can't think of too many others which don't all counter-invest and trade with each other, like merchants in the souk.)
 
This is rubbish Krizon. If Greece and other borrow way above their GDP and cannot manage their public finances, that simply isnt the fault of the USA. If the banks lend that money that has nothing to do with subprime or anything else

As for that Bilberberg conspiracy stuff, heard it all before, but perhaps you ought to tell us what proportion of the US election funds come from the banks first? Perhaps rather than going the dubious conspiracy websites, check a few facts?
 
I've just been listening to part of an interesting video link put up by Stansberry's Investment Advisory, where the author opines that the USA may have no alternative but to follow Britain's disastrous fall from grace - thanks to Labour's pursuit of socialist policies - in the 1970s as the World Reserve Currency, as it's printing off trillions of dollars to pay for its imported goods and services (for which, read Big Oil in particular), and it would only take for some countries (say, like Saudi) to say, heck, no we don't want the overinflated dollar any more. It's been printing money like no tomorrow since March 2009, says Stansberry, and a credit downgrade (as per the link above) would see its consumerism checked alarmingly, pretty much as ours was starting in the 1960s with Harold Wilson limiting us to taking only £50 out of the country for holidays, following on with the loss of GB sterling as the WRC.

Very interesting - very alarming, no?
 
I went to that website Krizon and as expected it is seems to be something of a Ron Paul fan site. He's a nut. Not least do i recall his statement that the us military should not have got involved in Katrina because it was "unconstitutional". Thats mentally ill IMO. His ultra far right libertarian rubbish is pie in sky stuff

As for the rest, if the us credit rating goes down , so what? It wont affect consumer spending one bit. It has nothing to do with it at all and besides the credit rating agencies are largely a self publisising joke. They are the idiots who gave AAA ratings to sub prime debt. The US has big debt but very low bond yields (lower than all of europe) and is thus comfortably servicing the same. The markets do not have a problem

And why would saudi suddenly not want the $? Whats it going to do? Suddenly ditch its biggest customer (by far)? Not as if the saudis have much else to export is it?
 
They have some very fine racing camels, Clivex!

It's a site hosted overall by someone called Alex Jones, who seems to have a radio show as well as the site. It does absolutely look like Konspiracy Korner, but who's not to say that America couldn't take a huge nosedive if countries demand payment in anything other than dollars? Suppose Japan would prefer to be paid in zlotys or whatever is strongest at the time? Actually, does that sort of thing really ever happen?
 
Must admit never thought about that krizon but in many ways it doesnt matter what currecny you are paid in does it?

If you are a trader and sold goods for £10k overseas, so long as the euro, $ or whatever payment converts back to £10k, doesnt matter. Same principle i suppose
 
If it didn't matter, then why is Stansberry kicking up such a shitstorm about America facing hard times if it loses its status as WRC?

I quite like conspiracy sites as you can pretty much see where the next blockbuster film schtick is going to come from! :lol:
 
A few years ago there was talk of an € denominated Oil Market to run alongside the $ market as the OPEC countries were getting jittery about the dollar. They'd be chuffed now if it had happened lol.
 
So, could OPEC not just simply declare it wanted payments for its product in Euros as well as dollars, Kauto? It called an oil strike back in 1973 in support of the Palestinians, causing widespread chaos throughout Europe in particular, so it can pretty much do what it wants when the chips are down.
 
In theory OPEC can do what they like but it's highly unlikely with the politics involved. It is arguable as well the uprisings in the middle east and the removals of opposable leaders to western policy is another solidifying of this.
 
f it didn't matter, then why is Stansberry kicking up such a shitstorm about America facing hard times if it loses its status as WRC?
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And if it did matter, why have so many economists (who do not worship libertarian extremists/nuts) basically shrug their shoulders at it?

Its an issue but nothing like what these swivel eyed lunatics wish it to be
 
Being the world currency has the considerable advantage that when you print money the inflationary effects are diluted.

The euro has (had?) been gaining ground as an international reserve currency. By the end of 2009 over 27% of official foreign exchange reserves were denominated in euros.
 
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Grey said:
Being the world currency has the considerable advantage that when you print money the inflationary effects are diluted.

The euro has (had?) been gaining ground as an international reserve currency. By the end of 2009 over 27% of official foreign exchange reserves were denominated in euros.
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Out of date now, I'm afraid - no-one wants this currency anymore.
 
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