Tick, tick, tick, tick, Economic Callapse pending!
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Hi Guys,
I saw on the news the other night about the 'The 2 Billion Dollar Loss By JP Morgan Is Just A Preview Of The Coming Collapse Of The Derivatives Market'
I've been reading up on various sites, this one http://theeconomiccollapseblog.com/ mostly and find in relation to the above,
*'Overall, the 9 largest U.S. banks have a total of more than 200 trillion dollars of exposure to derivatives. That is approximately 3 times the size of the entire global economy.
It is hard for the average person on the street to begin to comprehend how immense this derivatives bubble is.
So let's not make too much out of this 2 billion dollar loss by JP Morgan.
This is just chicken feed.
This is just a preview of coming attractions.'*That's what is happening in the US. As regards the current mess over here in Europe things are probably a lot more complex.
There is a strong possibility that 'The Countdown To The Break Up Of The Euro Has Officially Begun'
This article paints a reasonably credible picture.
http://theeconomiccollapseblog.com/archives/the-countdown-to-the-break-up-of-the-euro-has-officially-begunThis could be worrying or not, depending on how one looks at it,
*'In short, Germany has given the SoFFIN:
€400 billion to be used as guarantees for German banks.
€80 billion to be used for the recapitalization of German banks
Legislation that would permit German banks to dump their euro-zone government bonds if needed.That is correct. Any German bank, if it so chooses, will have the option to dump its EU sovereign bonds into the SoFFIN during a Crisis.
In simple terms, Germany has put a €480 billion firewall around its banks. It can literally pull out of the Euro any time it wants to.'*
If this is the case, I wonder if its time to start stocking up on non perishable foods to tide one over the fallout period
Any thoughts?
Mike
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I think it's time for us to take back the world (well, I guess we never had it but...)
it wouldn't be too hard.. the hard part is getting people to realize how easy it would be.
answer #2
isn't this just a step towards the ultimate goal of the banks... a single world currency.
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Yes Jeff, I think I have to agree with you on both counts.
These 'take overs' in the past would appear to have happened without much resistance. However with the advent of the Net and the free flow of information, things aren't quite as easy. Hopefully the Net will remain as it is, but only if its users protect it by whatever means necessary!
We have an important Referendum coming up here in a few weeks time, its in a fiscal treaty. This (to me) mean that we will be handing over my country's total economic control to the UE power core.
Ireland is one of few countries that actually gets to vote on EU treaties, this was built in to our initial 'sign up'. I think the Eurocrats may not get the vote they are hoping for!
If Ireland gives a 'Yes' vote, it will be like the old 'Paddy the Irishman Joke' with the ..... 'Hold on! I see where it is sticking!' punchline. I'll tell the joke if anyone does not know of it.
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Mike,
I do not follow the EU politics besides what gets reported here, which really is not much so please let me apologize in advance if I'm totally mistaken.
To me it looks like Merkel has some big balls, she really has taken the helm at looked out for Germany well, she also seems to give a shit about the EU prosperity too or at least in it's stability in order to protect Germany. Unfortunately the result of this is the rough and almost impossible situation the Greeks are in. The question I have is how interconnected are big banks and the EU leadership? are they like here in the USA in the same bed? Is there a lobbying system or way of influence like we have here or are things a little cleaner?
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Saddest of all is that nobody seems to have learned the lessons from the 'sub-prime' collapse a few years back. The politicians (certainly here in the UK) seem to have no better idea than to ask the very people who caused the problem to suggest a way of fixing it. Many of the banking executives sacked as 'sacrificial offerings' to appease public opinion have quietly walked straight into jobs as government advisors on 'Budget Responsibility'.
Even more scary is the possibility that once people see through the 'solutions' of mainstream politics, the door is wide open for more extremist political views to seize upon the situation with false promises for desperate folks to clutch at (e.g. Nazism's popular appeal following the inflationary crisis in 1930s Germany).
Particularly with the mis-handling of things in the 'Euro-zone' one can't blame people for being attracted to the idea of 'pulling up the drawbridge' and turning to isolationism/nationalism - but this is no solution, as the economic powers behind the problem have no loyalty to any particular nation. They are happy to take their money anywhere that they feel the local laws are most friendly to their 'assets'- and to hold governments to ransom by vowing to take employment opportunities and tax payments elsewhere if they don't get what they want. -
it's money.. money is numbers.. numbers can be calculated..
the banks aren't gambling as in "let's put this system in place and hope for the best"..The same people making the money control the system in which it's used.
creating panic and crisises etc are part of how the bankers (the elite(?) ones) are able to get the public to accept their actions. (meanwhile they're the one creating the panic.. it's a hoax)
the American dollar is being weakened right now as a ploy to get the Amero (north American dollar) instilled.. the euro is doing the same thing.
maybe we'll skip the Amero and go straight to the Ameuro.. then all that's left is Asia(sorry for the fragmented thoughts/sentences )
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@unknownuser said:
It is hard for the average person on the street to begin to comprehend how immense this derivatives bubble is.
Or one may say "near impossible". The non-average people don't have a handle on it, it seems.
Do you believe from what you've read, that there are investment bankers wringing their hands all over the world (or insert "finance ministers, regulators, stock brokers, heads of state")?
I'm quite ready to expect another financial calamity, we seem to have a good string of them going. But I am reminded of my brother-in-law who keeps his eye on the market. His comments usually start: "People don't understand.." "What they don't want you to know.." etc. Somehow he and the few people he follows are the only ones.
I don't doubt there's some who do see the bubbles before they pop. Little I can do, especially regarding high finance. And don't worry about taking back the world. There will be plenty of that, but usually it's done by the rich and powerful, Yet you can bet others won't miss the opportunity ("It's Armageddon! Grab your Bible and your shotgun!" etc.).
Thanks for the post, Mike. I want to look at these, regardless.
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I hate to say it but the word, Bilderberg, comes to mind!
Here is a list of attendees of the 2011 Meeting. Any 'Power Broker' from your neck of the woods?
EDIT! Before you click the below link. Maybe you should know that this statement is on the site,
'Web server log data
When our Internet site is visited, a log is registered on our web server. This log provides us with non-personal data about the date and time of logging in, as well as the IP address and the browser type from which our Internet site is visited. The information from these server logs is used by our development team for Internet optimalisation of our own site and those of our present and future clients.'http://www.bilderbergmeetings.org/participants_2011.html
What I don't like about these meetings is the 'behind closed doors' aspect. In the case of Irish representation there are two past Attorney Generals (basically this is a non elected Government post as Solicitor to the Cabinet). In a recent referendum here a group of Attorney Generals (retired) spoke out publicly against our elected TDs (Members of Parliament) not been given the power to hold investigations with some 'teeth'. They got their way and the motion was defeated in the polls. I voted in favour even though I have no great love of politician but at least we can kick them out after a few years
Yes, the more I look at the way things are going the more I feel that there are agendas being implemented that are not that of the electorates.
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.... then again, if this is in fact the 'Official Bilderberg WebSite', I wonder why it has only been in existence since 2009! http://www.godlikeproductions.com/forum1/message1092848/pg1
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As alarming and informative as this thread is, I ask so what besides griping can we do about it?
Are we doomed without a hope or can we somehow facilitate change?
How about a mass exodus from banks to credit unions, or are we too late?
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@mike lucey said:
Yes, the more I look at the way things are going the more I feel that there are agendas being implemented that are not that of the electorates.
No sht. Anyone seen Charles Ferguson's 'Inside Job'? The bit about Iceland is especially enlightening (keep in mind, while watching, that the Icelandic political and finacial elite is small). The Icelandic people were basically fcked over by the people who were supposed to represent them.
Sorry for the swearing -injustice and cynicism make me angry.
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@solo said:
As alarming and informative as this thread is, I ask so what besides griping can we do about it?
Are we doomed without a hope or can we somehow facilitate change?
How about a mass exodus from banks to credit unions, or are we too late?
Credit Unions here use Banks for day to day business operations. So, I imagine if the Bank gets into trouble so do the Credit Unions.
Maybe we should be looking at the barter system. I learned about Bitcoin some months ago and see that it is steadily growing in spite of hearing that the 'power brokers' did not like the idea.
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@solo said:
As alarming and informative as this thread is, I ask so what besides griping can we do about it?
Are we doomed without a hope or can we somehow facilitate change?
How about a mass exodus from banks to credit unions, or are we too late?
education and instilling confidence in the general public are key.. the problem is those channels are controlled by the people seeking to prevent a true democracy..
so on that note, I think what we can do as individuals is simply try to enjoy life.. love our families.. be kind to our neighbors.
our brains are still in our control if we want them to be.. and brains are cool.
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And voice your opinions LOUDLY!
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oh.. and quit shying away from people of differing nationalities, race, religion, sex, age (if possible
), etc..that whole divide&conquer thing... it works.
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IF the most disastrous form of collapse were to occur, rest assured; the populace will be hung out to dry while the wealthy and corporations are propped up with the commoner's money.
Sound familiar?
Perhaps debtor's prisons and serfdom will come back into vogue.
I wonder when it will be 1778 again?
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Yes, the divide and conquer tactic looks to be one of the cards being played by the Money Brokers at the moment and its working to a degree. I think the politicians and the civil service in the EU are pushing the fiscal pact to secure their salaries and when kicked out, their fat pensions.
However, I find that with the free streaming of information / knowledge these days, they are finding it more and more difficult the keep the true agenda under wraps.
We haven't has a World War for over 60 years but I think we are heading to a financial World War and the weapons being is cash! I also think that maybe this time the Money Brokers have bitten off more than they can chew. They may well have boxed themselves into a corner.
I would hope that the eventual outcome would be a fairer society, one that won't value cash above all else and hopefully will start to tackle the important issues humanity is facing, Hunger, Climate Change, Habitat Destruction, etc etc.
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Re-posting this interesting 1:30 video...
http://www.youtube.com/watch?v=uoNjVMhmBfM -
@michaliszissiou said:
Re-posting this interesting 1:30 video...
http://www.youtube.com/watch?v=uoNjVMhmBfMha. I interpreted that as a minute and a half...
looks interesting.. I'll try to watch it tonight. -
@michaliszissiou said:
Re-posting this interesting 1:30 video...
http://www.youtube.com/watch?v=uoNjVMhmBfMThanks Michalis, I watched it with great interest. I had no idea about what had exactly happened in Greece. The media over the past few years would have us to believe that the Greeks were overpaying themselves and retiring at 50!
I especially noted the parts of the movie regarding the privatisation of electricty, water and rail. The very same thing is being forced on Ireland currectly!
Pete asked a question a while back, what can we do about these things? The answer is said and subtitled in the last few moments of the movie.
%(#000080)[Will the modern man be able to fight his tendency …. to be inactive, to stay silent?
Besides, Thucydides has already said that: It's either freedom or tranquility.
You need to choose. You will either be free or tranquil. You can't have both.]
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