Debt Rattle May 16 2014: Europe Imitates The Fall Of The Roman Empire

 

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  • #12937

    Harris & Ewing Sandwich vendor, Washington DC 1919 In essence, it’s really simple. We’ve seen over the last few days that the European Union is a fede
    [See the full post at: Debt Rattle May 16 2014: Europe Imitates The Fall Of The Roman Empire]

    #12938
    jal
    Participant

    Limited supplies.
    You cannot keep everyone happy.
    I guess that Europe, will need to figure out if they are on the cutting block.
    https://www.zerohedge.com/news/2014-05-16/moscow-says-massive-holy-grail-gas-deal-china-98-ready
    Moscow Says Massive “Holy Grail” Gas Deal With China Is 98% Ready
    Russia will supply 38 billion cubic metres of natural gas annually to China for 30 years.
    Supply would begin no later than the end of 2018.

    #12940
    Raleigh
    Participant

    If subprime loans are returning, and they’re guaranteed by the government with insurance (like Canada), removing almost all risk from banks, what’s to stop another housing bubble? Could it be that even with all of this help, prices are still way too high? Perhaps they could hold a daily housing lottery (sarc) next.

    Really, they are getting desperate now. Banks should be required to hold mortgages on their books so that they get serious about who they’re handing money out to. Free markets? Dead in the water.

    #12941
    Raleigh
    Participant

    Geithner can’t explain Lehman because he’s a lying piece of crap. So is Paulson and Bernanke. Everyone knew what was going on.

    Financial Terrorism

    The Greatest Propaganda Coup of Our Time?

    “The financial system was collapsing and it had been collapsing for a full year. Everyone who followed the markets knew it. Hell, the Fed had already opened its Discount Window and the Term Auction Facility (TAF) in 2007 to prop up the ailing banks–something they’d never done before– so they certainly knew the system was cratering. […]

    By September 2008, Bernanke and Paulson knew the game was over. The crisis had been raging for more than a year and the nation’s biggest banks were broke. (Bernanke even admitted as much in testimony before the Financial Crisis Inquiry Commission in 2011 when he said “only one ….out of maybe the 13 of the most important financial institutions in the United States…was not at serious risk of failure within a period of a week or two.” He knew the banks were busted, and so did Paulson.) Their only chance to save their buddies was a Hail Mary pass in the form of Lehman Brothers. In other words, they had to create a “Financial 9-11″, a big enough crisis to blackmail congress into $700 no-strings-attached bailout called the TARP. And it worked too. They pushed Lehman to its death, scared the bejesus out of congress, and walked away with 700 billion smackers for their shifty gangster friends on Wall Street. Chalk up one for Hank and Bennie.

    The only good thing to emerge from the Fed’s transcripts is that it proves that the people who’ve been saying all along that Lehman was deliberately snuffed-out in order to swindle money out of congress were right.”

    And from Karl Denninger re Bernanke draining liquidity:

    https://www.denninger.net/letters/bernanke-drain.pdf

    #12942
    Raleigh
    Participant

    Michael Hudson’s take on Ukraine, U.S., Russia, China – long article, but a great read about the history.

    https://www.nakedcapitalism.com/2014/05/new-cold-war-ukraine-gambit.html#comment-2136539

    #12946
    CPG
    Participant

    “Unsustainable Credit and asset Bubbles provide the existential threat. So-called “deflation” risk is a consequence of precarious “money,” Credit, securities, asset, economic and speculative Bubbles. At this point having resorted to rank monetary inflation (and with global growth dynamics alarmingly weak), Central banks have no solution. Trying to gauge how much time is left is the pressing issue for market participants.”

    Nervous Time

    #12949
    John Day
    Participant

    What might be the next global financial scheme to replace the current one, when it pukes its last blood?
    There is a lot of scurrying for gold lately, but I’m not very imaginative.

    #13003
    khiori
    Participant

    Raleigh – (late reply) Front line on NSA is amazing! Stunning to see so much truth on American TV in one program. Sadly most are watching sports or reality TV. I hear the talk around me at work (science) and it’s all about which team traded who. Talking about things like NSA makes people uncomfortable. At least where I live.

    CPG and John Day, recently found another blog with a possible answer to what’s next. Ever read JC Collins? He has a theory laid out in 10 posts on SDR’s and the New Bretton Woods. It could explain a lot of things. Controlled collapse coming to a country near you!

    https://philosophyofmetrics.com/category/sdrs-and-the-new-bretton-woods-2/

    Or do you think he’s really “out there”?

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