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Posted
  • Location: 4 miles north of Durham City
  • Location: 4 miles north of Durham City

    This is mathematical PROOF that debt saturation has occurred. Continuing to add debt into a saturated system, where all money is debt, leads only to future defaults and to higher unemployment.

    This is the dilemma created by our top down debt backed money structure. Because all money is backed by a liability, and carries interest, it guarantees mathematically that there will be losers and that the system will eventually reach the natural limits, the ability of incomes to service debt.

    http://economicedge....of-century.html

    Edited by PersianPaladin
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    As harve has touched on, re inflation and interest rates, its a hell of complicated set up to understand correctly (nobody does imho), the news always presents it very clean, simplistically and wrong.

    Go Greek strikes Go.... It's not often I support strikes, but in this I do. They are absolutely right that Greece does not need more lending. It can't afford what it owes full stop, they still need t

    Afraid not, old bean; China has been a Communist People's Republic since, when, 1947? Just because it's a Tory government that's doing all the kow-towing makes not a jot of difference...But I bet that

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    Posted
  • Location: Christchurch, New Zealand
  • Location: Christchurch, New Zealand

    An interesting piece about Greece in the Telegraph. It looks like Greece is about to be poured into a pan and put on an unattended hot plate by a bunch of German academics.

    Greek aid in doubt as German professors prepare court challenge

    The article states:

    A quartet of German professors is to preparing to challenge the EU-IMF rescue for Greece at Germany's constitutional court as soon as the mechanism is activated, claiming that it violates the 'no-bail-out' clause of the EU Treaties.

    A Greek euro coin - EU aid for the debt-strapped country is in doubt as German professors prepare to challenge its legitimacy in court. Photo: Bloomberg The group will ask for an injunction to block the transfer of German funds until the court has ruled. It will demand a verdict on whether the European Central Bank has broken EU law by bending collateral rules to help Greece.

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    Posted
  • Location: Tunbridge Wells, Kent
  • Location: Tunbridge Wells, Kent

    This article is from a doomsayer or an extreme internet freak.

    http://www.silverbearcafe.com/private/04.10/trends.html

    It also happens to largely tie in with my thinking of the last couple of years.

    I'd be interested to hear PP's comments on it as he is the most informed individual on this particular thread.

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    Posted
  • Location: 4 miles north of Durham City
  • Location: 4 miles north of Durham City

    This article is from a doomsayer or an extreme internet freak.

    http://www.silverbea....10/trends.html

    It also happens to largely tie in with my thinking of the last couple of years.

    I'd be interested to hear PP's comments on it as he is the most informed individual on this particular thread.

    Some valid points in that article, and they also echo what Congressman Ron Paul has been warning about: -

    The "war on terror" that occurred after 9/11 was really all planned in advance and they used 9/11 as an extremely convenient pretext to pursue a global fight for control of oil, gas and other resources. Michael Meacher MP explains it here: -

    http://www.guardian....eptember11.iraq

    We are still in Afghanistan, and we are also meddling in Yemen and Iraq and now threatening Iran with sanctions. We've been meddling in Central Asia too. This is all linked to Peak Oil and the coming resource wars. The "Al Qaeda" thing is just an exaggerated threat to get people scared. It, sadly, takes a lot of time and effort to research the truth. A privelege that most people don't have.

    I do predict global war in our lifetimes, unfortunately.

    Edited by PersianPaladin
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    Posted
  • Location: Bracknell, Berkshire
  • Location: Bracknell, Berkshire

    Worrying turn of conversation.

    Worryingly, I agree.

    Apologies for not inputting my best as it can be informed two cents worth...work has been very busy and uni mounts a drawing close for Job No.1.

    With a Uk hung parliament likely will it hurt us that much economically.

    PP?? What do you think

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    Posted
  • Location: 4 miles north of Durham City
  • Location: 4 miles north of Durham City

    Worrying turn of conversation.

    Worryingly, I agree.

    Apologies for not inputting my best as it can be informed two cents worth...work has been very busy and uni mounts a drawing close for Job No.1.

    With a Uk hung parliament likely will it hurt us that much economically.

    PP?? What do you think

    I really don't think it will make any difference.

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    Posted
  • Location: Dorset
  • Location: Dorset

    Another Quick post in the World Eco thread.

    Greece is still in the news and the markets have not responded very well.

    Firstly 100+ Billion is a huge figure for such as small country and really shows that the situation is not likely to get better soon.

    Secondly the size and this sounds really bad, the ease with which the money is being raised makes it more likely that certain other club med countries might try to partake.

    Thirdly there is still the risk that the Greece population will not not play ball, more strikes etc will hurt the economy more.

    I still think the phrase stopping digging when your in a hole is apte here and that Greece will be better defaulting, restructing and asking it's creditors to take a 60cent in the Euro reduction to enable Greece to get back on it's feet again.

    Also a quick response against the attacks on the evil markets that politicians across Europe have been shouting in recent weeks.

    This is not the fault of markets. Just as the markets where right to indicate that Banks were almost insolvent at the start of the recession, despite short selling being blamed.

    The markets and credit agencies are right about the sovereign debt problems today.

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    Posted
  • Location: Sheffield South Yorkshire 160M Powering the Sheffield Shield
  • Weather Preferences: Any Extreme
  • Location: Sheffield South Yorkshire 160M Powering the Sheffield Shield

    I'm just wondering whether the Greek situation is the beginning death knell for Europe and the Euro. It'll be interesting if the Government can get the people to accept the bill.

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    Posted
  • Location: Sth Staffs/Shrops 105m/345' & NW Snowdonia 219m/719'
  • Location: Sth Staffs/Shrops 105m/345' & NW Snowdonia 219m/719'

    I'm just wondering whether the Greek situation is the beginning death knell for Europe and the Euro. It'll be interesting if the Government can get the people to accept the bill.

    It'll also be interesting if the new Governmnet in the UK on May 7th (whoever that may be) can get us to accept our own austerity measures.

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    Posted
  • Location: Sheffield South Yorkshire 160M Powering the Sheffield Shield
  • Weather Preferences: Any Extreme
  • Location: Sheffield South Yorkshire 160M Powering the Sheffield Shield

    It'll also be interesting if the new Governmnet in the UK on May 7th (whoever that may be) can get us to accept our own austerity measures.

    If it's a hung parliament will they have the balls to do it???? Or if it's only a small majority will any party have the balls knowing it's got night Vienna.

    This where Clegg is right they got to do it together and be brave. Everyone's expecting cuts however it's expected across the board and don't expect the rich to get away with it.

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    Posted
  • Location: Sth Staffs/Shrops 105m/345' & NW Snowdonia 219m/719'
  • Location: Sth Staffs/Shrops 105m/345' & NW Snowdonia 219m/719'

    If it's a hung parliament will they have the balls to do it???? Or if it's only a small majority will any party have the balls knowing it's got night Vienna.

    This where Clegg is right they got to do it together and be brave. Everyone's expecting cuts however it's expected across the board and don't expect the rich to get away with it.

    I've said all along this election is like the emporors clothes. The main issue of cuts, to any meaningful degree, has largely been ignored as it's a vote loser. £6bn here and there is just peanuts. Political allegiance aside, the defecicit and debt has to tackled. Private sector has suffered most pain so far but it'll be coming to ALL sectors and both rich and poor alike whoever gets in. And I agree with you, it's gonna take some balls to grasp the nettle. Greece, and it's economic/social problems are just too close for comfort for us and many nations.

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    Posted
  • Location: Chevening Kent
  • Location: Chevening Kent

    I've said all along this election is like the emporors clothes. The main issue of cuts, to any meaningful degree, has largely been ignored as it's a vote loser. £6bn here and there is just peanuts. Political allegiance aside, the defecicit and debt has to tackled. Private sector has suffered most pain so far but it'll be coming to ALL sectors and both rich and poor alike whoever gets in. And I agree with you, it's gonna take some balls to grasp the nettle. Greece, and it's economic/social problems are just too close for comfort for us and many nations.

    I really don't think people realise the scale of these debts and the big fear has to be a hung parliament because no one is going to want to take real action and spoil their chances in the real election which could follow in months rather then years. Gold today has hit a all time high reaching £805 per ounce and says hung parliament?
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    Posted
  • Location: Dorset
  • Location: Dorset

    Breaking news.....

    US stock in freefall off the back of Sovereign debt worries.

    Hundreds of points currently wipped off shares in US, share trading due to be halted due to automatic controls on the size of the fall.

    It possibly might be avoided they came very close to the 10% fall mark.

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    Posted
  • Location: Dorset
  • Location: Dorset

    Starting to come back up now, but an incredible fall with massive volatility, this could well be the pre-cursor of stage 2.

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    Posted
  • Location: Dorset
  • Location: Dorset

    More incredible falls again across the world today, FTSE currently down 4% over 200 points and, US down 3-4% with several hundred points off (currently), the same can be said across most of the worlds stock markets.

    The question is: Is this a correction or the start of economic rollercoaster part 2. ?

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    Posted
  • Location: Calgary, Canada (1230m asl)
  • Weather Preferences: Wind driven falling snow
  • Location: Calgary, Canada (1230m asl)

    More incredible falls again across the world today, FTSE currently down 4% over 200 points and, US down 3-4% with several hundred points off (currently), the same can be said across most of the worlds stock markets.

    The question is: Is this a correction or the start of economic rollercoaster part 2. ?

    It's only back to where it was at the start of February. That's not to say that it isn't in freefall and won't fall further. So it's bad but could be worse.

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    Posted
  • Location: Christchurch, New Zealand
  • Location: Christchurch, New Zealand

    Nah, what is happening in the PIIGS (Portugal, Italy, Ireland, Greece and Spain) is starting to impact the markets. Things are only going down from here.

    Unless Cameron and Clegg get their act in gear very quickly expect Great Britain to be invited to the party.

    Edited by Scarf-Carrot-Coal
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    Posted
  • Location: Huddersfield, 145m ASL
  • Weather Preferences: Lots of snow, lots of hot sun
  • Location: Huddersfield, 145m ASL

    Nah, what is happening in the PIIGS (Portugal, Italy, Ireland, Greece and Spain) is starting to impact the markets. Things are only going down from here.

    Unless Cameron and Clegg get their act in gear very quickly expect Great Britain to be invited to the party.

    Good, they tried to artificially preserve the 'status quo' after the banking system debacle, to no real effect, but now they've run out of money so there's nothing left to artificially avert this latest crisis - the rotten discredited capitalist castle built on sand is creaking and about to collapse, and I for one will be rejoicing. I just hope the maximum number of 'capitalists' are dragged down (and preferably buried) once the collapse is complete. It's time to strip away all this 'global market' nonsense (which basically means the opportunity for the privileged few to prosper of the back of everyone else's sweat and effort) and go back to concentrating on what really matters i.e. people before profit, people before growth, people before markets, people before 'shareholder value', people before balance sheets, people before corporations - a basic re-adjustment that puts priorities in the right order at last.

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    Posted
  • Location: Sheffield South Yorkshire 160M Powering the Sheffield Shield
  • Weather Preferences: Any Extreme
  • Location: Sheffield South Yorkshire 160M Powering the Sheffield Shield

    Good, they tried to artificially preserve the 'status quo' after the banking system debacle, to no real effect, but now they've run out of money so there's nothing left to artificially avert this latest crisis - the rotten discredited capitalist castle built on sand is creaking and about to collapse, and I for one will be rejoicing. I just hope the maximum number of 'capitalists' are dragged down (and preferably buried) once the collapse is complete. It's time to strip away all this 'global market' nonsense (which basically means the opportunity for the privileged few to prosper of the back of everyone else's sweat and effort) and go back to concentrating on what really matters i.e. people before profit, people before growth, people before markets, people before 'shareholder value', people before balance sheets, people before corporations - a basic re-adjustment that puts priorities in the right order at last.

    Dunno what you're smoking unless you get rid off money you'll always have this problem.

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    Posted
  • Location: Huddersfield, 145m ASL
  • Weather Preferences: Lots of snow, lots of hot sun
  • Location: Huddersfield, 145m ASL

    ......unless you get rid of money you'll always have this problem.

    So that makes it all alright then ?

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    Posted
  • Location: Sheffield South Yorkshire 160M Powering the Sheffield Shield
  • Weather Preferences: Any Extreme
  • Location: Sheffield South Yorkshire 160M Powering the Sheffield Shield

    So that makes it all alright then ?

    No but it will always happen it's called human nature. Someone's always got more than someone else and will always want more.

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