Nom de plume Posted May 8, 2012 Author Share Posted May 8, 2012 ... *Ding Ding* ... Seconds Out ... Round 2 ... Link to comment Share on other sites More sharing options...
GD4ELI Posted May 8, 2012 Share Posted May 8, 2012 Round two will not last 10 seconds. The idiots have screwed themselves, far more incompetent than any on the Island. Link to comment Share on other sites More sharing options...
GD4ELI Posted May 8, 2012 Share Posted May 8, 2012 And the French seem to have decided that suicide is the best option. It's going to be a very rocky five years. Link to comment Share on other sites More sharing options...
Lxxx Posted May 8, 2012 Share Posted May 8, 2012 The French are damned if they do and damned if they don't. They could go for Sarkozy and his austerity cuts or they can opt for Hollande and his 'fiscal stimulus' which is another way of saying print some more money, which will lead to inflation. The whole system is broken and no amount of tinkering will fix it, the debt bubble is too large. Link to comment Share on other sites More sharing options...
GD4ELI Posted May 8, 2012 Share Posted May 8, 2012 The French are damned if they do and damned if they don't. They could go for Sarkozy and his austerity cuts or they can opt for Hollande and his 'fiscal stimulus' which is another way of saying print some more money, which will lead to inflation. The whole system is broken and no amount of tinkering will fix it, the debt bubble is too large. That crazy Hollande wants to reduce the pension age to 60! Link to comment Share on other sites More sharing options...
Chinahand Posted May 8, 2012 Share Posted May 8, 2012 The French are damned if they do and damned if they don't. They could go for Sarkozy and his austerity cuts or they can opt for Hollande and his 'fiscal stimulus' which is another way of saying print some more money, which will lead to inflation. The whole system is broken and no amount of tinkering will fix it, the debt bubble is too large. Lxxx, I think you need to understand the difference between fiscal and monetary measures. They are different. An IMF loan, or a Eurobond raised elsewhere and then spent in an economy is a fiscal measure - it isn't printing money and hence doesn't cause monetary inflation. The trouble is there is no way for Hollande to get his "fiscal stimulus" no one is going to lend him the money at anything like reasonable rates. Hollande can't print money - he doesn't control the central bank anymore - the ECB does. So basically his slogans aren't really worth the paper they are written on. My bet - there will be a bit EU summit which will announce some coordinated growth policies, but with almost no money behind it. They'll all declare victory and paralysis will continue. The Euro is fundamentally flawed, but the national politicians haven't the will or the support to fix it. Link to comment Share on other sites More sharing options...
pongo Posted May 8, 2012 Share Posted May 8, 2012 An IMF loan, or a Eurobond raised elsewhere and then spent in an economy is a fiscal measure - it isn't printing money and hence doesn't cause monetary inflation. Impartially: Whilst technically accurate, the logical consistency of this argument seems strained when in l'actualité, for example, IMF support for (effectively) the Euro is itself funded by bilateral loans from the European Countries' own central banks. Link to comment Share on other sites More sharing options...
Lxxx Posted May 8, 2012 Share Posted May 8, 2012 An IMF loan, or a Eurobond raised elsewhere and then spent in an economy is a fiscal measure - it isn't printing money and hence doesn't cause monetary inflation. Impartially: Whilst technically accurate, the logical consistency of this argument seems strained when in l'actualité, for example, IMF support for (effectively) the Euro is itself funded by bilateral loans from the European Countries' own central banks. Spot on. It's a huge ponzi scheme that's still being lubricated by central banks printing money. There is no other option. Of course Hollande cannot print his own money but he can take advantage of the printing presses based elsewhere. It's quantitive easing to infinity. The Federal Reserve/ECB/IMF are passing around the same new money between themselves. Link to comment Share on other sites More sharing options...
GD4ELI Posted May 8, 2012 Share Posted May 8, 2012 It's a huge ponzi scheme that's still being lubricated by central banks printing money. No it isn't. Link to comment Share on other sites More sharing options...
Lxxx Posted May 8, 2012 Share Posted May 8, 2012 It's a huge ponzi scheme that's still being lubricated by central banks printing money. No it isn't. Do tell. Link to comment Share on other sites More sharing options...
GD4ELI Posted May 8, 2012 Share Posted May 8, 2012 It's a huge ponzi scheme that's still being lubricated by central banks printing money. No it isn't. Do tell. I'm sorry - you're claiming that this is a Ponzi scheme which it is not, you're claiming that money is being printed in euroland which it isn't. The coutries printing money are the US and UK. If you're going to utter crap be prepared to be corrected. Link to comment Share on other sites More sharing options...
Lxxx Posted May 8, 2012 Share Posted May 8, 2012 It's a huge ponzi scheme that's still being lubricated by central banks printing money. No it isn't. Do tell. I'm sorry - you're claiming that this is a Ponzi scheme which it is not, you're claiming that money is being printed in euroland which it isn't. The coutries printing money are the US and UK. If you're going to utter crap be prepared to be corrected. The ECB is partaking in quantitive easing in everything but name, regardless of the ECB propaganda. Last year we had the first ever long term refinancing operation when it made available about 500 billion euros to bankrupt banks at ridiculously cheap 1% loans, which was obviously gobbled up quick sharp. This stealth QE was to stop euro-zone banks going bust and to stop runs on them as they were about to hit a wall and it was to also let them buy up the sovereign debt of the PIIGS nations, who were uable to find buyers for their bonds, which they did. The ECB is not allowed to buy up PIIGS sovereign bonds, and it's not politically expedient for them to print money, so they do it via the back door. It all goes back to the same issue, they have one option and that is to print money and/or monetise debt. If you're going to lap up all the propaganda that gets pumped out, prepare to be corrected. Link to comment Share on other sites More sharing options...
pongo Posted May 8, 2012 Share Posted May 8, 2012 The ECB argues that it has (so far) not been effectively printing money under its Securities Markets Programme since it attempts to remove equivalent quantities of liquidity from the markets via the process of sterlization. This article at Sky News presents a widely argued alternative perspective. Either way - there was an interesting blog post here at the FT last November arguing that by early 2012 the ECB would no longer be able to afford this process of sterilisation. Also - late last November the ECB failed by €9bn to buy back all of the excess liquidity which they had created funding the purchase of govt bonds. PS - Google sovereigns bank loop if you want a fright Link to comment Share on other sites More sharing options...
Nom de plume Posted May 8, 2012 Author Share Posted May 8, 2012 Every Euro, Dollar, Pound ... sheckle ... has debt attached to it. ... and if you really want to be depressed, just go searching who's behind the ECB, the Fed and all the other money creators. The Rothschild family, Morgan Stanley, Lehman and their associates must be laughing themselves all the way to the ... oh, hang on a minute ... Link to comment Share on other sites More sharing options...
Lxxx Posted May 10, 2012 Share Posted May 10, 2012 The most sensible politician in europe yesterday. Link to comment Share on other sites More sharing options...
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