Second Financial Collapse Starting?
#181
Anyone who didn't bank at least £500,000 in the Labour years wasted themselves ... it was just so easy to command £1500 a day consultancy work - and companies just paid up ...... not even a shrug or moan
It was madness, I knew it couldn't last - but wanted it to .... business lunches, evening business dinners, box at Wembley and Twickers, evening treats in London .. all the trappings. Everyone was at it, we all knew it was a con, but - boy - did we laugh!
Sadly, some are going to get bitten hard - I don't want to be one of them - so, want out of cash .......... not sure where to put it though!
I'm sure a Bank/Banks will default in the UK and people will have to accept 10p in the £1 of their money ..... the guarantees are not worth a bean (as we saw in Iceland!).
Buy something you can touch, enjoy, feel .... wise money, I believe, is going into BTL properties - rents are spiralling.
It was madness, I knew it couldn't last - but wanted it to .... business lunches, evening business dinners, box at Wembley and Twickers, evening treats in London .. all the trappings. Everyone was at it, we all knew it was a con, but - boy - did we laugh!
Sadly, some are going to get bitten hard - I don't want to be one of them - so, want out of cash .......... not sure where to put it though!
I'm sure a Bank/Banks will default in the UK and people will have to accept 10p in the £1 of their money ..... the guarantees are not worth a bean (as we saw in Iceland!).
Buy something you can touch, enjoy, feel .... wise money, I believe, is going into BTL properties - rents are spiralling.
£1500 a day, doing what, is that yourself ?
And we get you for free, lucky us
I managed £400 a day for a while, dont do bad now but miss the disposable.
At least the FTSE made a bit of a rally today, its like a bleeding Rollercoaster at the moment.
#182
Anyway in a democracy a government does lead, it is different from a mobocracy where the government follows at the heels of a mob roiling in emotions and need.
#185
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#187
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#188
He means the stock market will undergo a massive correction down.
#189
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#190
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Probably more speculation....
Unconfirmed summary THE SECRET PLAN HOW TO SAVE GREECE “EURECA” - "EURECA" exists and has been developed by consultants with the government of Angela Merkel led by Martin Wittig (CEO Roland Berger). The plan is apparently divided into six main phases
:
1) Greece confine all of its public assets (banks, real estate, telephone,
etc.) I a commo structure (assets estimated: 125bn EUR) (similar to what has
happened with “Treuhand” in the early 90ies with eastern Germany companies)
2) This structure is purchased by a European institution and financed by
states. The organisation would have a privatization responsibility with a
deadline in 2025.
3) The 125 billion euros are released to Greece to buy back its bonds to the
ECB and EFSF, which has the immediate effect of reducing the 88% debt / GDP
ratio, rather than 145% today.
4) This European institution invests 20 billion euros in restructuring
segregated assets to increase their value by about 50 billion euros. This
injection money could put the country back to path growth.
5) Privatization transaction were unwound in 2025. If these operations emit a
profit, it is paid to Greece, net of interest and management fees.
6) This plan wiped out the gains of speculators who do not believe in saving
Greece and the euro area and betting on a collapse of the Greek bond prices,
but also Spanish, Italian and Irish and who will have lower spreads CDS.
Unconfirmed summary THE SECRET PLAN HOW TO SAVE GREECE “EURECA” - "EURECA" exists and has been developed by consultants with the government of Angela Merkel led by Martin Wittig (CEO Roland Berger). The plan is apparently divided into six main phases
:
1) Greece confine all of its public assets (banks, real estate, telephone,
etc.) I a commo structure (assets estimated: 125bn EUR) (similar to what has
happened with “Treuhand” in the early 90ies with eastern Germany companies)
2) This structure is purchased by a European institution and financed by
states. The organisation would have a privatization responsibility with a
deadline in 2025.
3) The 125 billion euros are released to Greece to buy back its bonds to the
ECB and EFSF, which has the immediate effect of reducing the 88% debt / GDP
ratio, rather than 145% today.
4) This European institution invests 20 billion euros in restructuring
segregated assets to increase their value by about 50 billion euros. This
injection money could put the country back to path growth.
5) Privatization transaction were unwound in 2025. If these operations emit a
profit, it is paid to Greece, net of interest and management fees.
6) This plan wiped out the gains of speculators who do not believe in saving
Greece and the euro area and betting on a collapse of the Greek bond prices,
but also Spanish, Italian and Irish and who will have lower spreads CDS.
#195
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Greece have announced that in order to assist with the imposed austerity measures, they are ceasing all production of taramosalata and humous.
The goverrnment said it was a double dip recession.
The goverrnment said it was a double dip recession.
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Sept. 28 (Bloomberg) -- Greece will find it “impossible”
to get back on its feet even after the country implements
austerity measures and it is inevitable that Greece will have to
leave the euro-zone, Otmar Issing, the former chief economist of
the European Central Bank, was quoted as saying in an interview
with Stern magazine published today.
He said Greece needs a debt haircut of at least 50 percent,
according to the magazine.
to get back on its feet even after the country implements
austerity measures and it is inevitable that Greece will have to
leave the euro-zone, Otmar Issing, the former chief economist of
the European Central Bank, was quoted as saying in an interview
with Stern magazine published today.
He said Greece needs a debt haircut of at least 50 percent,
according to the magazine.
#197
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iTrader: (1)
Anyone who didn't bank at least £500,000 in the Labour years wasted themselves ... it was just so easy to command £1500 a day consultancy work - and companies just paid up ...... not even a shrug or moan
It was madness, I knew it couldn't last - but wanted it to .... business lunches, evening business dinners, box at Wembley and Twickers, evening treats in London .. all the trappings. Everyone was at it, we all knew it was a con, but - boy - did we laugh!
Sadly, some are going to get bitten hard - I don't want to be one of them - so, want out of cash .......... not sure where to put it though!
I'm sure a Bank/Banks will default in the UK and people will have to accept 10p in the £1 of their money ..... the guarantees are not worth a bean (as we saw in Iceland!).
Buy something you can touch, enjoy, feel .... wise money, I believe, is going into BTL properties - rents are spiralling.
It was madness, I knew it couldn't last - but wanted it to .... business lunches, evening business dinners, box at Wembley and Twickers, evening treats in London .. all the trappings. Everyone was at it, we all knew it was a con, but - boy - did we laugh!
Sadly, some are going to get bitten hard - I don't want to be one of them - so, want out of cash .......... not sure where to put it though!
I'm sure a Bank/Banks will default in the UK and people will have to accept 10p in the £1 of their money ..... the guarantees are not worth a bean (as we saw in Iceland!).
Buy something you can touch, enjoy, feel .... wise money, I believe, is going into BTL properties - rents are spiralling.
Fred G
Last edited by kingofturds; 28 September 2011 at 01:01 PM.
#198
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#199
Les
#200
All very well come up with those outlandish claims for all that cash you tell us that you were putting away. You may have been far more fortunate in your position than most on this forum.
All I can remember is the bloated and feckless borrowing by NL and the encouragement for people to borrow to ridiculous limits on their plastic doubtless thinking it would be easy to keep up with the repayments.
Luckily being on a pension discouraged me from going over the top like that, but then I have never been that way inclined anyway.
We are left in the remains of a recession with a destroyed economy and the likelihood of another recession to come. NL also signed us up to support the Eurozone just as they were about to lose power which they knew at the time. What kind of a dirty trick was that? What is your take on that Pete-would you have tried to destroy the country by saddling it with that kind of a commitment?
I would like to see your justification for all of the above!
Les
All I can remember is the bloated and feckless borrowing by NL and the encouragement for people to borrow to ridiculous limits on their plastic doubtless thinking it would be easy to keep up with the repayments.
Luckily being on a pension discouraged me from going over the top like that, but then I have never been that way inclined anyway.
We are left in the remains of a recession with a destroyed economy and the likelihood of another recession to come. NL also signed us up to support the Eurozone just as they were about to lose power which they knew at the time. What kind of a dirty trick was that? What is your take on that Pete-would you have tried to destroy the country by saddling it with that kind of a commitment?
I would like to see your justification for all of the above!
Les
#201
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Les ... it doesn't matter now - the Germans have just agreed to bail the EuroZone out of its plight
Who would have thought, in 1945, that Germany would be the powerhouse it is now?!
Good on them!
Who would have thought, in 1945, that Germany would be the powerhouse it is now?!
Good on them!
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Off the back of the German vote, equities and EUR ticked down, fixed income tick up......market seems to think otherwise!
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No, it's mainly because Germany have agreed to finance Greece, and have been expected to for about a week now. Hence the world has been saved for a bit longer. German bond yields are off the lows to reflect this. If Greece does default, as many predict it will, i'd expect gold to shoot right back up again.
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#207
How long before it is our common language I wonder?
Les
#208
I hate society
I hate the government
I hate the way the world works
I hate they way a mojority of the people in the world act
I hate that I act like them myself
I just hate it all
I'm off to live in the woods with my tinfoil hat on so I dont need to partake in this joke that is called 'society'
I hate the government
I hate the way the world works
I hate they way a mojority of the people in the world act
I hate that I act like them myself
I just hate it all
I'm off to live in the woods with my tinfoil hat on so I dont need to partake in this joke that is called 'society'
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Dave
#210
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I hate society
I hate the government
I hate the way the world works
I hate they way a mojority of the people in the world act
I hate that I act like them myself
I just hate it all
I'm off to live in the woods with my tinfoil hat on so I dont need to partake in this joke that is called 'society'
I hate the government
I hate the way the world works
I hate they way a mojority of the people in the world act
I hate that I act like them myself
I just hate it all
I'm off to live in the woods with my tinfoil hat on so I dont need to partake in this joke that is called 'society'
Last edited by JTaylor; 29 September 2011 at 02:40 PM.