Failure to save East Europe will lead to worldwide meltdown

peaceandlove · 02-19-2009, 11:13 AM

Failure to save East Europe will lead to worldwide meltdown

The unfolding debt drama in Russia, Ukraine, and the EU states of Eastern Europe has reached acute danger point.

By Ambrose Evans-Pritchard
Last Updated: 2:05AM GMT 15 Feb 2009

If mishandled by the world policy establishment, this debacle is big enough to shatter the fragile banking systems of Western Europe and set off round two of our financial Götterdämmerung.

Austria's finance minister Josef Pröll made frantic efforts last week to put together a €150bn rescue for the ex-Soviet bloc. Well he might. His banks have lent €230bn to the region, equal to 70pc of Austria's GDP.

"A failure rate of 10pc would lead to the collapse of the Austrian financial sector," reported Der Standard in Vienna. Unfortunately, that is about to happen.

Article continues: http://www.telegraph.co.uk/finance/c...-meltdown.html

piers2210 · 02-19-2009, 06:23 PM

Financial meltdown is inevitable.

7-11 November 2009...mark your diaries.

Jacqui D · 02-19-2009, 07:42 PM

Quote:

Originally Posted by piers2210

Financial meltdown is inevitable.

7-11 November 2009...mark your diaries.

Why this date Piers?

It all seems a losing battle, it's only a matter of time now i feel.

piers2210 · 02-19-2009, 09:02 PM

Hi Jacqui, well Bill Deagle in his interview on 16th Feb was talking about "any bank holiday soon" for the "economic revolution" (a good interview by the way) but i just don't think things are prepared enough yet. Change is inevitable, but i think it will fall more in line with the dates 7-11 Nov this year because of two things : (1) the elite/secret societies like to do things on auspicious dates, and 11-11-11 fits well ie 11 nov 2009. According to the Mayan Calendar though, the Fifth Night period was meant to have been the key time for economic collapse, ie pre-nov 2008, but this only partially happened. According to Calleman and others, collapse only occurs during "Night" periods, so we are now looking at 7th Nov 2009 onwards ie the start of the Sixth Night of the Galactic Underworld. Whatever, due to the unchangeable cosmic plan, change HAS to come very soon, as there is little time left before completion of the cosmic plan on 28th Oct 2011, when political and economic change must already have occurred. Because no one is aware of the cosmic plan, change when it comes will be hard for most, but you can prepare. Preparation suggestions are well documented, but 14 days food, water and small bills would help as the streets will be empty by then (except for the bodies you must step over).

Cheer up!

Piers

piers2210 · 02-19-2009, 09:25 PM

The other thing about delays in the economic revolution thats coming is that the massive increase in the money supply in the US, Britain and elsewhere will slow the pace of change...a little. Printing money can't stop change, but it will slow it down. The collapse this time will be total though in my view.

Connecting with Sauce · 02-19-2009, 11:56 PM

My proposed new currency is below

Northern Boy · 02-20-2009, 02:49 PM

Quote:

Originally Posted by Connecting with Sauce

My proposed new currency is below

Hey I`m RICH !

peaceandlove · 02-20-2009, 08:08 PM

Don't expect miracles during big week in EU's battle with depression

David Gow in Brussels
guardian.co.uk, Wednesday 18 February 2009 10.29 GMT

Is the EU falling apart? Can the euro survive? The coming week is scheduled to deliver some eagerly awaited policy responses to these suddenly urgent questions, but the prospects are that they will fall short of what is required and that the "worst depression for a century" will deepen...

Article continues: http://www.guardian.co.uk/business/2...cession-policy

peaceandlove · 02-20-2009, 08:13 PM

Britain at risk of 10 year recession

By Andrew Porter, Political Editor
Last Updated: 10:55PM GMT 19 Feb 2009

Britain is at "serious risk" of entering a decade-long recession similar to that experienced by Japan in the 1990s, the outgoing deputy governor of the Bank of England has warned.

Sir John Gieve, the Bank of England deputy governor has warned Britain is at risk of slipping into a ten year recession.

Sir John Gieve was speaking after new figures showed Britain's national debt could more than double to almost £2 trillion later this year. However, he added that such a prolonged decline was not inevitable because interest rates had been cut sharply.

The high level of public debt will be reached when the Government's stakes in two part-nationalised banks are put on the balance sheet.

It puts Britain's financial position "off the Richter scale," according to the Tories, who urged Alistair Darling, the Chancellor, to stop the rises in spending to bring down debt.

Article continues: http://www.telegraph.co.uk/finance/f...recession.html

peaceandlove · 02-20-2009, 08:16 PM

Berlin cleared to seize control at Hypo Real Estate

From The Times
February 19, 2009
Susan Thompson and Catherine Boyle

The German Government has approved a draft law that allows the forced nationalisation of stricken banks, paving the way for Berlin to take control of Hypo Real Estate, the commercial property lender.

The Bill, which must be approved by parliament, breaks a post-war taboo in giving the Government the right to expropriate shareholders in domestic banks.

In the case of Hypo, the Government wanted the option of expropriation because, without it, it might have trouble taking full control of the bank since JC Flowers, the American private equity investor, owns nearly a quarter of the bank's shares.

German politicians have agonised for weeks over the Bill, aware that it is linked in many Germans' minds to Nazi seizures of Jewish property in the 1930s and East Germany's attack on private business after the Second World War.

Article continues: http://business.timesonline.co.uk/to...cle5762351.ece

piers2210 · 02-20-2009, 08:29 PM

Love your posts, PaL.

You are The Business.

Carry on.

Paper money is going to be irrelevant.

For those who haven't seen it yet, check out Gerald Celente's latest interview on Russia Today on another thread.....get the tins and water in!!

Enjoy life, NOW.

I tried to enjoy myself tonight in a bar in asia, but failed dismally.

Northern Boy · 02-20-2009, 08:29 PM

It is going to happen regardless of how much money they throw at it , The PTB are in control of it and the push for the NWO is on, My take on it is yes they are manipulating this but they fail to see it is taking on a life of its own that even they won`t be able to stop it .

peaceandlove · 02-20-2009, 09:06 PM

Saab on the brink as Swedish crisis reaches deadlock

The Swedish car-maker Saab Automobile was on the brink of failure on Thursday night after General Motors threatened to walk away, and the Swedish government refused to come to the rescue.

By Ambrose Evans-Pritchard
Last Updated: 9:05AM GMT 20 Feb 2009

Excerpts:

"Sweden has been the hardest hit of any country in western Europe: the economy contracted at an annualized rate of nearly 20pc in the fourth quarter, which is horrendous," said Par Magnusson, a strategist at Danske Bank.

There is mounting concern over the health of the Swedish banking system, which has only just recovered from its last disaster in the early 1990s. Swedbank and SEB have heavy exposure to the crumbling economies of the Baltic states.

"It's been a blessing. This is exactly why a country needs its own currency," said Mr Magnusson.

Full article: http://www.telegraph.co.uk/finance/n...-deadlock.html

Humble Janitor · 02-20-2009, 12:10 AM

Quote:

Originally Posted by piers2210

Financial meltdown is inevitable.

7-11 November 2009...mark your diaries.

Ha!

We've seen what happens when people attach dates to events. The events don't materialize.

See: Goodchild, Blossom

peaceandlove · 02-20-2009, 09:52 AM

Quote:

Originally Posted by piers2210

Financial meltdown is inevitable.

7-11 November 2009...mark your diaries.

Hail Piers, the Predictor,

Maybe we should start a lottery and let everyone make their predictions for EU Collapse, US Collapse, Mexico Collapse, Japan Collapse, or maybe just the Total Collapse?

Do you want to start a thread?

What should the winner receive?

Would there be a second place?

How about a third?

Why not a consolation prize too?

PaL

piers2210 · 02-20-2009, 10:18 AM

Brilliant idea!!

The winner gets "paper money"!!

burgundia · 02-20-2009, 12:44 PM

Goldman Sachs admits to manipulate Polish currency and they say that they are not going to do it any more. they already made money on that speculation. isn't that sweet? no more stealing people's money...

micjer · 02-21-2009, 06:15 PM

Quote:

Originally Posted by piers2210

Financial meltdown is inevitable.

7-11 November 2009...mark your diaries.

One thing is definate. Financial meltdown is inevitable. Part of their plan.

Next will be one world currency and banking system.

There is not enough bailout money to end the slide.

There is only one solution. All debts are considered paid off everywhere. Then start over with no interest. There is not enough money to go around once interest is put into the equasion. Giant pyramid scheme.

Wouldn't the Federal Reserve like my idea!!!

Humble Janitor · 02-22-2009, 05:37 AM

If it has a date, it's ********.

piers2210 · 02-22-2009, 10:13 AM

I am fairly sure that we will see major economic change before the year end...and we haven't seen anything yet. So far we have just seen a small market correction, inevitable with the disastrous decisions made for some years by top bankers and politicians. But what is to come will take us to the true position when politicians give up manipulating, which they will by year end. Then, as Peter Schiff, Ron Paul, Gerald Celente and others are advocating, the market can readjust to its new true level....which may make your eyes water a bit....

micjer · 02-22-2009, 05:15 PM

So, if stock markets all go in the tank..(pretty much a given)....what happens to the price of commodities? (food,oil,other goods we need)

Will it cause hyperinflation and we'll need wheel barrows full of cash for a loaf of bread or will everything deflate like the dirty thirties?

My thinking is that you cannot keep creating money out of thin air and retain the value of it. Look at the situation in Zimbabwe....inflation at 2.2 million %!!!!!
http://www.cbc.ca/world/story/2008/07/16/zimbabwe.html

piers2210 · 02-22-2009, 09:28 PM

You got it, M.

peaceandlove · 02-24-2009, 06:27 PM

EU leaders push sweeping regulations

By Chris Bryant in Berlin
Published: February 22 2009 20:36 | Last updated: February 23 2009 07:20

Angela Merkel, German chancellor, who hosted the meeting, said leaders had also agreed to support doubling the financial resources of the International Monetary Fund so it could act quickly to bail out nations in need in an “extraordinary international crisis”.

European leaders on Sunday outlined sweeping proposals to regulate financial markets and hedge funds and clamp down on tax havens as they sought a common position to combat the global economic crisis.

Article continues: http://www.ft.com/cms/s/0/a896e59e-0...077b07658.html

peaceandlove · 02-24-2009, 06:33 PM

G20 Preparatory Meeting - European Summit, Berlin

Press conference by Angela MERKEL, German Chancellor, Alexandr VONDRA, Czech Prime Minister and President-in-office of the Council, José Manuel BARROSO, EC President, Nicolas SARKOZY, French President, Gordon BROWN, British Prime Minister, José Luis Rodriguez ZAPATERO, Spanish Prime Minister, Silvio BERLUSCONI, Italian Prime Minister, Jan Peter BALKENENDE, Dutch Prime Minister, Jean Claude JUNCKER, President of the Eurogroup and Luxembourg Prime Minister
Ref-62078 // EU Member states, Berlin , Germany // AUDIO

Audio: http://ec.europa.eu/avservices/ebs/s...&institution=0

peaceandlove · 02-24-2009, 06:48 PM

Don't Panic! G20 Meeting is doomed to failure...

February 23, 2009

Video (7:42): http://www.youtube.com/watch?v=z0Fr8...e=channel_page

See Links under (more info)

02-19-2009, 11:13 AM	#1
peaceandlove Avalon Senior Member Join Date: Sep 2008 Location: Turtle Island Posts: 2,776	Failure to save East Europe will lead to worldwide meltdown Failure to save East Europe will lead to worldwide meltdown The unfolding debt drama in Russia, Ukraine, and the EU states of Eastern Europe has reached acute danger point. By Ambrose Evans-Pritchard Last Updated: 2:05AM GMT 15 Feb 2009 If mishandled by the world policy establishment, this debacle is big enough to shatter the fragile banking systems of Western Europe and set off round two of our financial Götterdämmerung. Austria's finance minister Josef Pröll made frantic efforts last week to put together a €150bn rescue for the ex-Soviet bloc. Well he might. His banks have lent €230bn to the region, equal to 70pc of Austria's GDP. "A failure rate of 10pc would lead to the collapse of the Austrian financial sector," reported Der Standard in Vienna. Unfortunately, that is about to happen. Article continues: http://www.telegraph.co.uk/finance/c...-meltdown.html Last edited by peaceandlove; 02-19-2009 at 11:57 PM.

02-19-2009, 06:23 PM	#2
piers2210 Avalon Senior Member Join Date: Oct 2008 Posts: 403	Re: Failure to save East Europe will lead to worldwide meltdown Financial meltdown is inevitable. 7-11 November 2009...mark your diaries.

02-19-2009, 09:02 PM	#4
piers2210 Avalon Senior Member Join Date: Oct 2008 Posts: 403	Re: Failure to save East Europe will lead to worldwide meltdown Hi Jacqui, well Bill Deagle in his interview on 16th Feb was talking about "any bank holiday soon" for the "economic revolution" (a good interview by the way) but i just don't think things are prepared enough yet. Change is inevitable, but i think it will fall more in line with the dates 7-11 Nov this year because of two things : (1) the elite/secret societies like to do things on auspicious dates, and 11-11-11 fits well ie 11 nov 2009. According to the Mayan Calendar though, the Fifth Night period was meant to have been the key time for economic collapse, ie pre-nov 2008, but this only partially happened. According to Calleman and others, collapse only occurs during "Night" periods, so we are now looking at 7th Nov 2009 onwards ie the start of the Sixth Night of the Galactic Underworld. Whatever, due to the unchangeable cosmic plan, change HAS to come very soon, as there is little time left before completion of the cosmic plan on 28th Oct 2011, when political and economic change must already have occurred. Because no one is aware of the cosmic plan, change when it comes will be hard for most, but you can prepare. Preparation suggestions are well documented, but 14 days food, water and small bills would help as the streets will be empty by then (except for the bodies you must step over). Cheer up! Piers

02-19-2009, 09:25 PM	#5
piers2210 Avalon Senior Member Join Date: Oct 2008 Posts: 403	Re: Failure to save East Europe will lead to worldwide meltdown The other thing about delays in the economic revolution thats coming is that the massive increase in the money supply in the US, Britain and elsewhere will slow the pace of change...a little. Printing money can't stop change, but it will slow it down. The collapse this time will be total though in my view.

02-19-2009, 11:56 PM	#6
Connecting with Sauce Avalon Senior Member Join Date: Sep 2008 Location: Chelmsford, Essex Posts: 650	Re: Failure to save East Europe will lead to worldwide meltdown My proposed new currency is below

02-20-2009, 08:08 PM	#8
peaceandlove Avalon Senior Member Join Date: Sep 2008 Location: Turtle Island Posts: 2,776	Don't expect miracles during big week in EU's battle with depression Don't expect miracles during big week in EU's battle with depression David Gow in Brussels guardian.co.uk, Wednesday 18 February 2009 10.29 GMT Is the EU falling apart? Can the euro survive? The coming week is scheduled to deliver some eagerly awaited policy responses to these suddenly urgent questions, but the prospects are that they will fall short of what is required and that the "worst depression for a century" will deepen... Article continues: http://www.guardian.co.uk/business/2...cession-policy

02-20-2009, 08:13 PM	#9
peaceandlove Avalon Senior Member Join Date: Sep 2008 Location: Turtle Island Posts: 2,776	Britain at risk of 10 year recession Britain at risk of 10 year recession By Andrew Porter, Political Editor Last Updated: 10:55PM GMT 19 Feb 2009 Britain is at "serious risk" of entering a decade-long recession similar to that experienced by Japan in the 1990s, the outgoing deputy governor of the Bank of England has warned. Sir John Gieve, the Bank of England deputy governor has warned Britain is at risk of slipping into a ten year recession. Sir John Gieve was speaking after new figures showed Britain's national debt could more than double to almost £2 trillion later this year. However, he added that such a prolonged decline was not inevitable because interest rates had been cut sharply. The high level of public debt will be reached when the Government's stakes in two part-nationalised banks are put on the balance sheet. It puts Britain's financial position "off the Richter scale," according to the Tories, who urged Alistair Darling, the Chancellor, to stop the rises in spending to bring down debt. Article continues: http://www.telegraph.co.uk/finance/f...recession.html

02-20-2009, 08:16 PM	#10
peaceandlove Avalon Senior Member Join Date: Sep 2008 Location: Turtle Island Posts: 2,776	Berlin cleared to seize control at Hypo Real Estate Berlin cleared to seize control at Hypo Real Estate From The Times February 19, 2009 Susan Thompson and Catherine Boyle The German Government has approved a draft law that allows the forced nationalisation of stricken banks, paving the way for Berlin to take control of Hypo Real Estate, the commercial property lender. The Bill, which must be approved by parliament, breaks a post-war taboo in giving the Government the right to expropriate shareholders in domestic banks. In the case of Hypo, the Government wanted the option of expropriation because, without it, it might have trouble taking full control of the bank since JC Flowers, the American private equity investor, owns nearly a quarter of the bank's shares. German politicians have agonised for weeks over the Bill, aware that it is linked in many Germans' minds to Nazi seizures of Jewish property in the 1930s and East Germany's attack on private business after the Second World War. Article continues: http://business.timesonline.co.uk/to...cle5762351.ece

02-20-2009, 08:29 PM	#11
piers2210 Avalon Senior Member Join Date: Oct 2008 Posts: 403	Re: Failure to save East Europe will lead to worldwide meltdown Love your posts, PaL. You are The Business. Carry on. Paper money is going to be irrelevant. For those who haven't seen it yet, check out Gerald Celente's latest interview on Russia Today on another thread.....get the tins and water in!! Enjoy life, NOW. I tried to enjoy myself tonight in a bar in asia, but failed dismally.

02-20-2009, 08:29 PM	#12
Northern Boy Avalon Senior Member Join Date: Oct 2008 Location: On this Rock Posts: 1,390	Re: Failure to save East Europe will lead to worldwide meltdown It is going to happen regardless of how much money they throw at it , The PTB are in control of it and the push for the NWO is on, My take on it is yes they are manipulating this but they fail to see it is taking on a life of its own that even they won`t be able to stop it .

02-20-2009, 09:06 PM	#13
peaceandlove Avalon Senior Member Join Date: Sep 2008 Location: Turtle Island Posts: 2,776	Saab on the brink as Swedish crisis reaches deadlock Saab on the brink as Swedish crisis reaches deadlock The Swedish car-maker Saab Automobile was on the brink of failure on Thursday night after General Motors threatened to walk away, and the Swedish government refused to come to the rescue. By Ambrose Evans-Pritchard Last Updated: 9:05AM GMT 20 Feb 2009 Excerpts: "Sweden has been the hardest hit of any country in western Europe: the economy contracted at an annualized rate of nearly 20pc in the fourth quarter, which is horrendous," said Par Magnusson, a strategist at Danske Bank. There is mounting concern over the health of the Swedish banking system, which has only just recovered from its last disaster in the early 1990s. Swedbank and SEB have heavy exposure to the crumbling economies of the Baltic states. "It's been a blessing. This is exactly why a country needs its own currency," said Mr Magnusson. Full article: http://www.telegraph.co.uk/finance/n...-deadlock.html

02-20-2009, 10:18 AM	#16
piers2210 Avalon Senior Member Join Date: Oct 2008 Posts: 403	Re: Failure to save East Europe will lead to worldwide meltdown Brilliant idea!! The winner gets "paper money"!!

02-20-2009, 12:44 PM	#17
burgundia Avalon Senior Member Join Date: Oct 2008 Location: Poland Posts: 3,442	Re: Failure to save East Europe will lead to worldwide meltdown Goldman Sachs admits to manipulate Polish currency and they say that they are not going to do it any more. they already made money on that speculation. isn't that sweet? no more stealing people's money...

02-22-2009, 05:37 AM	#19
Humble Janitor Avalon Senior Member Join Date: Sep 2008 Posts: 3,201	Re: Failure to save East Europe will lead to worldwide meltdown If it has a date, it's ********.

02-22-2009, 10:13 AM	#20
piers2210 Avalon Senior Member Join Date: Oct 2008 Posts: 403	Re: Failure to save East Europe will lead to worldwide meltdown I am fairly sure that we will see major economic change before the year end...and we haven't seen anything yet. So far we have just seen a small market correction, inevitable with the disastrous decisions made for some years by top bankers and politicians. But what is to come will take us to the true position when politicians give up manipulating, which they will by year end. Then, as Peter Schiff, Ron Paul, Gerald Celente and others are advocating, the market can readjust to its new true level....which may make your eyes water a bit....

02-22-2009, 05:15 PM	#21
micjer Avalon Senior Member Join Date: Sep 2008 Location: Ont. CANADA Posts: 1,043	Re: Failure to save East Europe will lead to worldwide meltdown So, if stock markets all go in the tank..(pretty much a given)....what happens to the price of commodities? (food,oil,other goods we need) Will it cause hyperinflation and we'll need wheel barrows full of cash for a loaf of bread or will everything deflate like the dirty thirties? My thinking is that you cannot keep creating money out of thin air and retain the value of it. Look at the situation in Zimbabwe....inflation at 2.2 million %!!!!! http://www.cbc.ca/world/story/2008/07/16/zimbabwe.html

02-22-2009, 09:28 PM	#22
piers2210 Avalon Senior Member Join Date: Oct 2008 Posts: 403	Re: Failure to save East Europe will lead to worldwide meltdown You got it, M.

02-24-2009, 06:27 PM	#23
peaceandlove Avalon Senior Member Join Date: Sep 2008 Location: Turtle Island Posts: 2,776	EU leaders push sweeping regulations EU leaders push sweeping regulations By Chris Bryant in Berlin Published: February 22 2009 20:36 \| Last updated: February 23 2009 07:20 Angela Merkel, German chancellor, who hosted the meeting, said leaders had also agreed to support doubling the financial resources of the International Monetary Fund so it could act quickly to bail out nations in need in an “extraordinary international crisis”. European leaders on Sunday outlined sweeping proposals to regulate financial markets and hedge funds and clamp down on tax havens as they sought a common position to combat the global economic crisis. Article continues: http://www.ft.com/cms/s/0/a896e59e-0...077b07658.html

02-24-2009, 06:33 PM	#24
peaceandlove Avalon Senior Member Join Date: Sep 2008 Location: Turtle Island Posts: 2,776	G20 Preparatory Meeting - European Summit, Berlin G20 Preparatory Meeting - European Summit, Berlin Press conference by Angela MERKEL, German Chancellor, Alexandr VONDRA, Czech Prime Minister and President-in-office of the Council, José Manuel BARROSO, EC President, Nicolas SARKOZY, French President, Gordon BROWN, British Prime Minister, José Luis Rodriguez ZAPATERO, Spanish Prime Minister, Silvio BERLUSCONI, Italian Prime Minister, Jan Peter BALKENENDE, Dutch Prime Minister, Jean Claude JUNCKER, President of the Eurogroup and Luxembourg Prime Minister Ref-62078 // EU Member states, Berlin , Germany // AUDIO Audio: http://ec.europa.eu/avservices/ebs/s...&institution=0

02-24-2009, 06:48 PM	#25
peaceandlove Avalon Senior Member Join Date: Sep 2008 Location: Turtle Island Posts: 2,776	Don't Panic! G20 Meeting is doomed to failure... Don't Panic! G20 Meeting is doomed to failure... February 23, 2009 Video (7:42): http://www.youtube.com/watch?v=z0Fr8...e=channel_page See Links under (more info)