Here we go again - banking crisis 2.0?
- Thread starter scorza
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So I don't have a clue but you can't say why. My words just makes you feel sad inside your heart
Fair enough.
Doomsayers to me are people like Schiff, Faber, Kaiser, Celente, etc.
Schiff actually has a company called EUROPAC which was basically set up to bet against the USA in Europe (euro) and Asia (pac). LOL that euro thing turned out great huh. Asia and China is another can of fail.
Schiff actually has a company called EUROPAC which was basically set up to bet against the USA in Europe (euro) and Asia (pac). LOL that euro thing turned out great huh. Asia and China is another can of fail.
what is your job?
really, the far right got what 6 million votes, blimey.
20% is a hell of a large vote considering things aren't too bad in france at the moment.
Let me explain in everyday terms wait could happen when all the sovereign debt stuff implodes.
All these banking assets aren't backed 1:1 by actual collateral, they're backed by other financial instruments back by other instruments backed by other instruments backed by an actual asset, which is probably over-valued from all this money still floating around (like your house).
What inevitably needs to happen is this mish mash has to be deconstructed to something sustainable, it has to de-leverage and the collateral has to be marked to market. That means all the extra "wealth" floating around in computers evaporates. What they have done to postpone it from happening is extract more "wealth" from future tax payers, your kids and grand kids, and insert it in to the banks. That's why everyone was upset. What Greece wants to do is keep that going even further, but to insert it in to the government instead of the banks. Both are stupid ideas. Things need to reset (deleverage) the way they should have in 2008.
So what would that mean to you? Suddenly your bank has way less "wealth" than it thought it did. You go to the cash machine and there's a sign saying you can only withdraw £20 a day. You go to the super market and the shelves are looking bare because the lorry company's line of credit has been canceled and they cant pay the drivers. You get your pension fund statement and it's now worth 20% of what it used to.
The other option is for the government to just print out money and hand it to people in the street. But it's basically the same effect because the money is worthless. The ECB is not allowed to do that anyway.
There's no way out of this except for a massive reset or what Hendry calls in the video "the most profound market clearing moment".
So what would happen then? People with real welath producing assets like farm land, oil wells and the like will go through and buy up all the other assets (like your house) for pennies on the dollar. They will also buy up your LABOUR for pennies on the dollar. In other words you'll start t know first hand what it's like living in China or Romania. You'll be working in a factory, commuting on a bicycle and eating beans on toast for dinner every night. Might not be too different from now for some posters lol.
All these banking assets aren't backed 1:1 by actual collateral, they're backed by other financial instruments back by other instruments backed by other instruments backed by an actual asset, which is probably over-valued from all this money still floating around (like your house).
What inevitably needs to happen is this mish mash has to be deconstructed to something sustainable, it has to de-leverage and the collateral has to be marked to market. That means all the extra "wealth" floating around in computers evaporates. What they have done to postpone it from happening is extract more "wealth" from future tax payers, your kids and grand kids, and insert it in to the banks. That's why everyone was upset. What Greece wants to do is keep that going even further, but to insert it in to the government instead of the banks. Both are stupid ideas. Things need to reset (deleverage) the way they should have in 2008.
So what would that mean to you? Suddenly your bank has way less "wealth" than it thought it did. You go to the cash machine and there's a sign saying you can only withdraw £20 a day. You go to the super market and the shelves are looking bare because the lorry company's line of credit has been canceled and they cant pay the drivers. You get your pension fund statement and it's now worth 20% of what it used to.
The other option is for the government to just print out money and hand it to people in the street. But it's basically the same effect because the money is worthless. The ECB is not allowed to do that anyway.
There's no way out of this except for a massive reset or what Hendry calls in the video "the most profound market clearing moment".
So what would happen then? People with real welath producing assets like farm land, oil wells and the like will go through and buy up all the other assets (like your house) for pennies on the dollar. They will also buy up your LABOUR for pennies on the dollar. In other words you'll start t know first hand what it's like living in China or Romania. You'll be working in a factory, commuting on a bicycle and eating beans on toast for dinner every night. Might not be too different from now for some posters lol.
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In a no doubt futile attempt to get my thread back on track. The Daily Fail introduces us to the lady who is in charge of Voldemort (you just know the guy picked that nickname for himself don't you?). She earns $14m a year, and worth every penny I'm sure - you have to pay the big bucks or you get people who end up losing you $2bn.
http://www.dailymail.co.uk/news/art...ader-Bruno-Michel-Iksil-thought-2bn-loss.html
http://www.dailymail.co.uk/news/art...ader-Bruno-Michel-Iksil-thought-2bn-loss.html
Soldato
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I think thats the first time I have actually seen a well reasoned (not that I fully agree mind) well presented querk post.
The system is slowly deleveraging and soon (think its 2013) the banks will be start to be "broken up" although that does lokk likely to be simply ring fencing the bits that cannot be allowed to fail from those bits that can. I say its slowly deleveraging its very slow.
If, and personally I dont think it will be allowed to happen, but if, it all goes into meltdown I disagree with people with assets like land and oil being the ones to gain. That level of complete breakdown would produce so many variables and possible outcomes its impossible to say they will be buying all the wealth.
Years ago, i think about 25 now. I read a study by one of the large oil companies, the most massive failure prediction model they came up with had the rich living in basically militarised fortresses and the vast majority living outside in almost stoneage conditions. The people who would end up in these fortresses were not necessarily people with money, assets, wealth or anythign that is judged as successful in todays world, but they had strong skills needed to protect the life inside these fortresses. No one knows and until its too late we never will.
I think one needs to consider said statement in the context of a mind that believes every conspiracy theory it finds, and when people tell it that the theory is nonsense, that simply reinforces the belief that it's true. Given this context, saying that 'even Castiel can notice', means that this particular theory is so much more obviously true than the other conspiracy theories (which are also true, in this mind), that even someone that is not intelligent enough to realise the others are true, realises that this one is true.
I mean his pedantry is so obvious that even you are calling it out, as a poster prone to pedantry yourself.
They might not gain because the value of the land and oil is probably over-valued now like everything else. EVERYTHING is basically a bubble. People are rushing around looking for places to stash their bubble money, oil, houses, gold, everywhere.
Notice I said wealth-PRODUCING assets. You are still going to need to eat and stay warm so food and fuel is always going to create wealth. A bank or Facebook stocks or your wife's dog grooming business is not going to produce wealth.
Except when I call people on the misuse of formal or precise terminology or knowledge it is with good reason, usually because the context of the discussion requires it.
In this case I didn't think it was really necessary to belabour your mistakes because, as unusual as it is for you, the underlying point that there is a rise in Far Right populism in Europe is actually true to some extent.
Don't confuse this with my actually agreeing with your opinion, because as usual, much of it is firmly rooted in PlanetKwerk rather than reality.
The crux of it really is some people think they can maintain "growth" by inflating the banks with the future labour of tax payers. Other people think they can maintain "growth" by inflating the governments with the future labour of tax payers.
All I'm saying is neither of those can maintain growth, in fact all the growth from the last couple of decades was largely imaginary. There isn't going to be any growth, we haven't even paid for the "growth" we already had!
Feel free to argue against that idea.
All I'm saying is neither of those can maintain growth, in fact all the growth from the last couple of decades was largely imaginary. There isn't going to be any growth, we haven't even paid for the "growth" we already had!
Feel free to argue against that idea.
It probably passed him by that I was not agreeing with his opinion, only saying that despite his usual rhetoric one facet of what he said has some veracity.
Which is what I was explaining to Halk, it is self defeating belabouring kwerks admitted confusion on this one point, especially when there is so much more to be critical about with regard his latest theories.
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This is true, this is what has happened in the uk for 40 years,
All growth comes at the expense of something else, whether that is borrowing from the future or wasting natural resources.
The only possible way out of this is to have a large technological lead which other nations need to pay you for.
Unfortunately, uk governments tend to flog everything they have and then waste the money.
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What's through the round window today
If you are to be believed then a horde of Jewish shape shifting reptilian humanoid members of the Illuminati who are intent on drinking our blood, raping our women and eating our children.......all the while manipulating the people through oppression of our democracies using the domination of the central banking system and false flag operations.
Or was that through the Square Window...I forget!