Euro will collapse, 'Pig States' to bring EU down

[bashi]

No comment,

Source: https://youtube.com/watch?v=thSTpGnWEAs

[Gita]

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Euro Collapse Looms? Will the Ban on Naked Short Selling Reverse the Slide of the Euro?

'Germany's Chancellor Angela Merkel says the Euro currency is at risk and that Europe faces its greatest challenge since the EU was formed. It comes as stock markets in Europe and Asia tumbled on the surprise news that Berlin was banning types of 'short selling' where investors profit by betting that shares will drop in value.'

Source: https://youtube.com/watch?v=ROkUjkdq1W0

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[Gita]

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The Euro Crisis is a Judgment on the Great Lie of 'Europe'

'What we are witnessing here is a judgment on the entire deceitful and self-deceiving way in which the "European project" has been assembled over the past 53 years. One of the most important things to understand about that project is that it has only ever had one real agenda. Everything it has done has been directed to one ultimate goal, full political and economic integration.

The headline labels put on the various stages of that process may have changed over the years, such as building first a "common market", then a "single market", finally a "constitution". But by far the most important project of all was locking the member states into a single currency.'

Read more: The Euro Crisis is a Judgment on the Great Lie of 'Europe'

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[bashi]

The Euro has fallen back to levels which are similar to the ones before the 750 Billion bailout:

[morguana]

i am very glad that this thread is still going, have been following it with much interest........thank you all
m

[Emmanuel]

Very Funny, Bashi.. I enjoyed. But is serious..
Follow up..................................................................................
The euro continues to crash, taking a beating due to the sovereign debt crisis. And while the dollar seems to be rising as a result of the sliding euro — it's really not gaining strength. It too is losing purchasing power!

There's only one currency in the world that's rising — even hitting new record highs in terms of its purchasing power. http://www.uncommonwisdomdaily.com/t...-9431?FIELD9=2
Best,

Larry

P.S. We are still biding our time waiting for the definitive "buy" signal in gold that we expect will come at virtually any moment.

[Gita]

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Towards Another Stock Market Meltdown?
...

Europe is rescuing its economy in the same way that the Federal Reserve has attempted to same America’s financial system and economy. They have used an unprecedented aid and stimulus package to offset massive fiscal deficits. In the US a deflationary depression was avoided at least temporarily and that is what is now being attempted in Europe with the guidance of the Federal Reserve.

This kind of program was implemented during the 1930s when we are told that unemployment was 25%. During the late 1930s the program failed to pull America out of depression. Unemployment in 1939 was 17.4% and in 1940 it was 16.2%, hardly the results hoped for and anticipated. The result was WWII. We are headed in the same direction today, as the Middle East and Asia smolder ready at any time to burst into flames.

In the US liquidity was unleashed on a massive scale and that is what will happen in Europe. It is the only way they can keep the system functioning.

We Are now closing in on the next planned world war as a result. When and where we can only guess, but it surely is on the way, the same way it was in the late 1930s. War is a distraction and it succeeds in culling the population. It is also a cover-up for massive financial and economic problems that have resulted from the financial elite looting the system.

The system is not being fixed and deliberately so. The elitists do not want it fixed. They want a collapse. This is the only way they can force people to accept world government.

…

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Full article.

[Gita]

Loved the vid bashi.

Europe's Web of Debt


Source

[bashi]

And up again:

which is a good sign.
Also the "safehaven" US bonds we rising, which is also a sign that the rush out of the Euro and into the US has subsided a little:

[Etherios]

All i see is that they are playing around with numbers and we cant make a proper judgment because all is "fixed" and it can change as they want.

[lightblue]

pretty graphs...thank god for powerpoint l

[Gita]

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The Collapse of Stock Markets is the Result of Financial Manipulation

Economist Michel Chossudovsky gives his assessment of what's going on in the world of finances. He believes the worst of the global crisis is yet to come and all the measures taken to stop it are actually hurting the economy.

Their cure will kill us! Michel Chossudovsky on State of Financial Emergency

Source: https://youtube.com/watch?v=-JEf9-vxxkM

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Source

[bashi]

Spain has been downgraded by Finch Rating agency after markets have already closed.
This came one day AFTER Spain has voted for a €15bn (£12.7bn) austerity package.

It seems that the rating agencies are a very powerful tool, applied at the right time, to further pressurise the Euro.
The (desired?) effect is a flight into the Dollar, yanking it up beyond any reason.

Germany`s chancellor Merkel has already called for a European rating agency.

Package:http://www.telegraph.co.uk/finance/f...-one-vote.html

Rating:http://www.bloomberg.com/apps/news?p..._zxhRZJY&pos=2

.

[bashi]

Here the rift between Europe and America is clearly stated:

Source: https://youtube.com/watch?v=zVryPHJZokw

[Gita]

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Greece Urged to Give up Euro


THE Greek government has been advised by British economists to leave the euro and default on its €300 billion (£255 billion) debt to save its economy.

The Centre for Economics and Business Research (CEBR), a London-based consultancy, has warned Greek ministers they will be unable to escape their debt trap without devaluing their own currency to boost exports. The only way this can happen is if Greece returns to its own currency.

Greek politicians have played down the prospect of abandoning the euro, which could lead to the break-up of the single currency.

Speaking from Athens yesterday, Doug McWilliams, chief executive of the CEBR, said: “Leaving the euro would mean the new currency will fall by a minimum of 15%. But as the national debt is valued in euros, this would raise the debt from its current level of 120% of GDP to 140% overnight.

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Continued here.

[Luke]

The EuropeanCentralBank Blasts Governmental Fear-Based Racketeering, Questions Keynesianism, Believes The Fed's Powers Are Overestimated
by ZeroHedge
Somebody did not get the memo, or we're witnessing a split in banking cartel?
I mean , to openly question Keyensian god? To say banks are fearmongering to be bailed out?
The above Gita's post(#115) about urging Greece to leave eurozone is also a shot across the bow of current policy of "to big to fail" .. strange indeed.

[Gita]

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Top German Bankers See Plot To Funnel Bailout Money To French Banks

From the beginning, it’s been clear that the bailout of Greece would be a bailout in large part of French banks, owing in part to the fact that French banks had the biggest exposure.

Yet apparently some top German bankers are alarmed at how things are playing out.

A report in Der Spiegel (in German) suggests that top Bundesbank bankers see a “plot” underway at the ECB.

From Google Translate

Germany’s top bankers are confused: € 25 billion, the ECB has so far spent on Greek government bonds. According to SPIEGEL information suggested the Bundesbank, that is served chiefly to Paris – so French Institute could get rid of their scrap paper.

Here’s what they’re upset about: The ECB is buying up Greek debt (largely from French banks), but the Germans don’t understand why. After all, Greece has already received its bailout money already ; Greece should be able to pay back its debt in full.

Why, then, do French banks need to offload its junk paper?

Beyond the fact that the French have the biggest exposure, there’s another reason why the French may be winning bag:

Some senior central bankers do suspect a French plot, after all, ECB chief Jean-Claude Trichet, a Frenchman, under pressure from French President Nicolas Sarkozy revealed an iron rule of the monetary base – that is never to buy government bonds from Member States.

Throw in another Frenchman, the IMF’s Dominique Strauss-Kahn, and you have all the right people in power.

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http://www.prisonplanet.com/top-germ...nch-banks.html

[bashi]

Geithner was in Berlin.
Here a photo which depicts the "welcome" by German Finance Minister Wolfgang Schaeuble :

[Gita]

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Europe's Coming Summer Of Discontent


The summer of 2010 promises to be the most tumultuous summer in the short history of the European Union. The sovereign debt crisis sweeping the continent threatens to cause economic and political instability on a scale not seen in Europe for decades. The truth is that governments across the eurozone have accumulated gigantic piles of debt that simply are not sustainable. Prior to the implementation of the euro, these European governments often "printed" their way out of messes like this, but now they can't do that. Now they either have to dramatically cut government expenses or they have to default. But the austerity measures that the IMF and the ECB are pressuring these European governments to adopt are likely to have some very painful side effects. Not only will these austerity measures cause a significant slowdown in economic growth, they are also likely to cause the same kinds of protests, strikes and riots that we saw in Greece to erupt all over Europe.

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Continued here.

[Gita]

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Plunged into Chaos: Europe on the Eve of the Bilderberg Conference

The Bilderberg group will convene in Sitges, Spain, a resort community 30 km from Barcelona, on June 4-7. As usual, the information is supplied by James Tucker and Daniel Estulin who revealed that this year the issues topping the agenda of the club's meeting will be the global recession and the approaches to provoking such economic breakdowns that can help justify the establishment of a full-scale world economic governance.

Intending to prolong the global economic downturn for at least another year, the Bilderberg group hopes to take advantage of the situation to set up a “global ministry of finance” as a part of the UN. Though the decision was actually made at the group's meeting in Greece last year, according to Tucker the plan was torpedoed by US and European “nationalists” (for the Bilderberg group, “nationalists” is a generic term for all nationally-oriented forces espousing national sovereignty and statehood).

All year since the last meeting, representatives of the global executive management have been convincing the public across the world to embrace a “new financial order”. The idea recurred in the statements made by N. Sarkozy, G. Brown, and the freshly elected European Council President H. Van Rompuy, but – against the backdrop of a relatively harmless phase of the crisis - the activity remained limited to psychological conditioning and no practical steps have been taken. As Jacques Attali wrote quite reasonably in his After the Crisis, Europe has no right to demand a reform of the global financial architecture as long as it can't organize the institutions that would meet its own needs.

The debt crisis in Greece that currently puts in jeopardy the entire European financial system provides a pretext for drastic measures, and both the crisis and the measures are vivid illustrations of the strategy that employs chaos to reorder the existing arrangements. The deliberately generated chaos is tightly controlled by financial institutions, major banks, and hedge funds and serves as an efficient mechanism of governance and social restructuring.

The financial attack against Greece promptly evolved into onslaught on Euro and – as it became clear – the developments correlated marginally with the structural shortcomings of the Greek economy. The intensity of the crisis that momentarily posed a threat to the economic and even political integrity of the EU cannot be explained solely by the appetites of faceless financial players. There had to be more serious reasons behind the situation, and to an extent the objectives pursued by those who shaped it can be understood from the statements made by G. Soros. He maintains that the EU owes its current difficulties to the European (especially German) politicians' reluctance to move on, that huge problems await Europe unless it starts developing, and that a kind of a European Monetary Fund helping fight budget deficit must be created. In other words, Europeans are forced to choose between the collapse of the Eurozone and governance centralization.


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Continued here.