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Author Topic: 20 Reasons Global Debt Time Bomb Explodes Soon........  (Read 73961 times)

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Offline Bill_Carson

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There are 2 types of people in this world my friend; those with loaded guns, and those who dig.

Offline Wil

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Re: 20 Reasons Global Debt Time Bomb Explodes Soon........
« Reply #21 on: May 05, 2010, 02:49:29 PM »
Maybe we're missing something here. I've always thought of Greece being full of nice, happy people--good folks.
The Greeks must know if they don't cut back their country will be "in the tank"; bankrupt, broke, as in no more Greece on account of hyper-inflation?
Are they protesting something else, like maybe blaming big banks for their misfortune(s)? Surely they don't expect the rest of Europe to pay them to go on not working or producing anything.  Could these riots be on account of another problem we don't know about??  It just doesn't make sense and you get a few more countries following them, then LOOK OUT! ...Wil

Offline Chuxgold

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Re: 20 Reasons Global Debt Time Bomb Explodes Soon........
« Reply #22 on: May 06, 2010, 10:44:23 AM »
In a world of conveniences and easy living. Who wants to work? Even if you could find a job. It is making stuff you can't afford. Going to people that can't either. Money dues not have the same face it ones did. No one respects it or respects the world that gives it to us. We all just take more and more. One day, it will run out.
With no gold standard there is no restraint on spending. No saving recourses and money for when they are needed most.
We should not be broke. We should have billions or trillions in the banks? There for disasters and  affording world peace.
Oh yea we just tried that?
Just gos to show. Never trust anyone but yourself with your money. And with that any and all faith in this modern world dies.
The human raise has proven its not capable of possessing civilization. when those of supposed faith rape those they are charged with. And those that are supposed to finance are future. Steel it. Making the governing factors are enemies not are allies in finding a well lived life.
With it all being to old and to well entrenched to ever be change. 
It makes all that do not try that could have effect. Evil to the human condition. Perverse in there own existence.
Insane!
Chuck.
Give self, to gain wisdom,

Offline Bill_Carson

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Re: 20 Reasons Global Debt Time Bomb Explodes Soon........
« Reply #23 on: May 06, 2010, 12:15:26 PM »
Europe's web of debt - a graphic look ...

There are 2 types of people in this world my friend; those with loaded guns, and those who dig.

Offline Bill_Carson

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Re: 20 Reasons Global Debt Time Bomb Explodes Soon........
« Reply #24 on: May 08, 2010, 06:56:33 PM »
U.S. Debt Shock May Hit In 2018, Maybe As Soon As 2013: Moody's says...

The key data point in Moody's view is the size of federal interest payments on the public debt as a percentage of tax revenue. For the U.S., debt service of 18%-20% of federal revenue is the outer limit of AAA-territory, Moody's managing director Pierre Cailleteau confirmed in an e-mail.

Under the Obama budget, interest would top 18% of revenue in 2018 and 20% in 2020, CBO projects.

But under more adverse scenarios than the CBO considered, including higher interest rates, Moody's projects that debt service could hit 22.4% of revenue by 2013...


   U.S. Debt Shock May Hit In 2018, Maybe As Soon As 2013: Moody's - IBD - Investors.com



There are 2 types of people in this world my friend; those with loaded guns, and those who dig.

Offline Five-Oh

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EU, IMF agree $1 Trillion Emergency Fund
« Reply #25 on: May 09, 2010, 09:33:25 PM »
EU, IMF agree $1 Trillion Emergency Fund

By: Reuters

Global policymakers unleashed an emergency rescue package worth about $1 trillion to stabilize world financial markets and prevent the Greek debt crisis from destroying the euro currency.

EU Economy and Finance meeting
Georges Gobet | AFP | Getty Images
European finance ministers talk before the EU Economy and Finance meeting on May 9, 2010 at the EU headquarters in Brussells.

The rescue, hammered out by European Union finance ministers, central bankers and the International Monetary Fund in marathon talks at the weekend, was the largest package in over two years since G20 leaders threw money at the global economy following the collapse of Lehman Brothers.

The size of the package surprised financial analysts and the euro rose close to 2 percent while stocks in Asia firmed.

The U.S. Federal Reserve reopened currency swap lines with several central banks and Group of Seven and Group of 20 finance ministers weighed in with their backing for the measures.

EU Monetary Affairs Commissioner Olli Rehn told a news conference the package of measures "proves we shall defend the euro whatever it takes".

The emergency measures are worth much more than any previous attempts by the 27-country EU or the 16-state single-currency group to calm markets.

They come after the Greek crisis drove sovereign debt yields and insurance on this debt to record levels.

Financial markets had started to punish other euro zone debt of members with bloated budgets such as Portugal, Spain and Ireland, in what Sweden's finance minister described as "wolfpack behaviors".

The $1 trillion package consists of 440 billion euros in guarantees from euro area states, plus 60 billion euros in a European instrument.

EU finance ministers said the International Monetary Fund was expected to contribute 250 billion euros, taking the total to 750 billion euros, or around $1 trillion.

However, IMF head Dominique Strauss-Kahn did not offer any specifics but said said any IMF action would be on a "country-by-country basis".

The European Central Bank said it will buy euro zone government bonds to help support fractured markets, abandoning its resistance to full-scale asset purchases.

The ECB said in a statement that the step, dubbed the "nuclear option" by many economists, was justified because of government promises to meet strict budget targets and step up consolidation efforts.

The euro currency, which last week sank to a 14-month low against the dollar, rose as high as $1.2950 before slipping back on the ECB decision to buy debt. By mid-morning it was changing hands at $1.2930.

"Getting them to agree on a number is crucial," said Tony Morriss, market strategist at ANZ in Sydney. "But to me what appears more important is the establishment of swap lines and quantitative easing (QE). And while QE may weigh in the longer term, the euro seems to be stabilizing, at least in the near term," Morriss said.

The ECB said the scope of the purchases was yet to be determined, but added they would be offset by liquidity-absorbing operations so that the stance of monetary policy is unaffected.

The ECB last year announced a 60 billion program to buy covered bonds but this would be its first move into buying government debt.

Gold prices, considered a safe haven investment, fell as much as 1.5 percent after touching near record highs last week.

Ease Fears
    
The central bank swap facility is meant to ease fears of a dollar shortage as investors dump riskier assets and move back into the U.S. dollar. The cost of interbank three-month U.S. dollar funds saw its largest rise in 16 months on Friday.

The move is designed to ensure there is enough money and confidence in the global financial system to stave off 2008-style credit crunch.

Ministers from Spain and Germany said euro zone countries would speed up their efforts to tackle their fiscal problems.

Jitters over euro zone finances have set global markets on edge and created the conditions for a nearly 1,000-point drop in the Dow Jones industrial average on Thursday. Authorities are investigating what triggered the dramatic move.

Both the EU and the IMF has already approved a 100 billion euro package to support Greece, whose budget deficit blew out last year to 13.6 percent of GDP.      

To secure the funds, Greece has committed to deep budget cuts that have already caused violent public protests in the country as it moves to get the deficit back down to the EU limit of 3 percent.

"Wolfpack"
Policymakers around the globe are worried the crisis in Greece could spread to other countries, fears compounded by the unexplained shock plunge in U.S. stocks on Thursday.

In Europe, officials said they would fight speculative investors they blame for aggravating the public debt crisis.

"We now see ... wolfpack behaviors, and if we will not stop these packs, even if it is self-inflicted weakness, they will tear the weaker countries apart," Swedish Finance Minister Anders Borg told reporters in Brussels before the EU meeting.

Economists estimate that if Portugal, Ireland and Spain eventually come to require bailouts similar to Greece's, the total cost could be some 500 billion euros.


Copyright 2010 Reuters.

Offline Chuxgold

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Re: 20 Reasons Global Debt Time Bomb Explodes Soon........
« Reply #26 on: May 10, 2010, 10:02:06 AM »

I have already said my peace about gold backing the dollar. But avoided stating about my thoughts on the inner value of gold and a world market. It balances are activities with the natural world. Slowing are development to a pace that fits what this planet has to give. Just deciding to cut loose and build at expeditionated rate. By solidifying the markets to flood the world with bogus dollars. This feeds the machine of are own destruction.
Religion can not see its own mistakes when it is not thought possible that god can too. And yes he can. He is us. Because we are him in are designing of him. He was invented, as some one to blame. When are mistakes get to were we can't afford them. But its kind of hard to lay this one on him when we are solely responsible   
In the end religion turns to science. Then turns on us. With either population control. Nukes. Or driving the debt to the point of total collapse. Religions shifting adjustment from a thing of faith of nature, to something of total human design. Is the razing of a beast. That will enslave us all.
In the end we are the devil. We as a hole represent something. Either that something is something good. Or it is something bad. With a entire universe of good. And only one bad thing that can be dun.
Suicide at any level is wrong. We are here to take the pain the poison of life. And then smile about it. Laugh in the face of that that trys to make us small with fear.   
Gold held are ambitions to only what was right and just. Not having the money to build towers that reach past what we can understand. Reaching past hew we are as one race. Living on one world, that has only one life, we are close to ending. We either except that connection. Condition. That responsibility of debt to this world. To life. Or die without it.
Chuck.
Give self, to gain wisdom,

Offline Bill_Carson

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Re: 20 Reasons Global Debt Time Bomb Explodes Soon........
« Reply #27 on: May 10, 2010, 11:31:35 AM »
May 10/2010 -- Jim Rickards: "Goldman Can Create Shorts Faster Than Europe Can Print Money" link to article with video;

Jim Rickards: Goldman Can Create Shorts Faster | zero hedge
There are 2 types of people in this world my friend; those with loaded guns, and those who dig.

Offline Bill_Carson

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Re: 20 Reasons Global Debt Time Bomb Explodes Soon........
« Reply #28 on: May 10, 2010, 05:36:57 PM »
Investment Experts: The Rating Agencies no longer serve a valid purpose for investment companies... Investors must now do their own debt ratings ...


      YouTube
            - Ratings Agencies Face Scrutiny in EU After Greek Crisis
   




      YouTube
            - IHS's Randolph Says Investors Must Do Own Debt Rating
   
There are 2 types of people in this world my friend; those with loaded guns, and those who dig.

Offline Five-Oh

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Re: 20 Reasons Global Debt Time Bomb Explodes Soon........
« Reply #29 on: May 10, 2010, 08:58:12 PM »
Bill.. The time you spend finding these commentaries by notables is valued...

Thanks...

Ed

 


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