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Crash 2 The Sequel!

Malcolm Robinson

By Malcolm Robinson
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threegee

threegee

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I wonder if the timing of the Cyprus smash and grab had anything to do with this 4 day weekend?...

Except there's no Good Friday hol down around the Med! Hard to believe when every conceivable excuse for a public holiday is honoured - but not that one!

The UK£ is recovering some of its composure against the € though, which is a not unwelcome development in those parts! ;)

Saw something last night which said the grab could be as high as 60% of some deposits. Incredible, and a lot of powerful people with contacts are going to be very very upset! Maybe the bank manager who was doling his own money out to those in need has a better appreciation of hard realities than some politicos?

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Malcolm Robinson
Malcolm Robinson

Looking a bit closer at this new EU deal which has been heralded by most all the mainstream media as a 'Euro Saviour' it would seem not only are the exact details missing so is any realistic probabili

Malcolm Robinson
Malcolm Robinson

Baldrick: "What I want to know, Sir is, before there was a Euro there were lots of different types of money that different people used. And now there's only one type of money that the foreign people u

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threegee

threegee

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Message from ECB/IMF: Leave any serious cash in Southern European Banks at your peril, and that could even include socialist France.

Result: A flight of capital into Northern Europe, or likely outside the Eurozone entirely.

The lack of moral hazard all started with our very own Northern Rock and pathetically incompetent Labour chancellor Alastair Darling - as noted here at the time. Now, when introducing moral hazard is forced on the politicos, they characteristically go over the top - because it's far far too late! The US had the good sense to let Lehman Brothers go - it served a dual purpose in evening a few scores amongst the banking fraternity, and so was an easy choice.

It's a totally pointless exercise recapitalising the Cypriot casinos, and they should have used a tiny fraction of the money setting up a string of local "savings and loans" to take over the day to day business of the populace - one per town.

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Malcolm Robinson

Malcolm Robinson

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It seems clear now the Eurozone is haemorrhaging money, or investment. Where once foreign investment felt safe, now after the completely mishandled Cyprus debacle they obviously no longer feel the same. Record levels of financial repatriation are increasingly apparent.

France's new President is now the least popular in 30 years, quite a feat in itself after the despised Sarkozy! His new finance minister has just announced he is actually a tax evader and yet another one of the ministers has admitted to stashing money in the Cayman Islands! Do as I say not as I do!

Constitutional court in Portugal just decreed the hitherto agreed Troika imposed Portuguese austerity measures are illegal.

Hardly surprising politicians and bankers have such low esteem in public opinion.

How long can the Euro hang on or will Merkle etc back it into oblivion? That will be us in oblivion not them of course!

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threegee

threegee

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Is Gold collapsing now then GGG?

Don't follow it closely, but now that you come to mention it... looks like we are in a classic retreat to something between $1000/oz and $800/oz. There are quite a few producers who are struggling to produce profitably at around those levels and higher so I wouldn't expect it to go much lower. But confidence in it as a store of value has - very rightly - been shaken at these speculative bubble levels.

The very people who are now losing money are the people who are reluctant to invest in equities because of the perceived risk - they don't like the idea of any capital loss, so will be doubly put out. Guess they will simply have to leave their money in Euros, collecting a derisory rate of interest in a nice safe offshore Eurozone bank! ;)

Anyway, I certainly wouldn't bet my shirt on the gold price! http://www.bbc.co.uk...-asia-22101436 :D

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Alan Edgar (Eggy1948)

Alan Edgar (Eggy1948)

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It's just us pensioners that are suffering! Makes my decision, just as the crash started 5 years ago, to take my pension and freeze the rate for 10 years. We might just be getting out of it by 2018 and I should be able to afford two pints on a Friday night. I have zillions of zeros in my accounts. Even NS&I are changing their rates. Will have to get the wife back to work to boost her retirement fund. Think it's soup and bread for evening meal - missed out dinner.

How come there are no charity shops (that I know of) of Bedlington front street? Is Bedlington avoiding the crash - apart from The Percy & Clayton Arms?

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Malcolm Robinson

Malcolm Robinson

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http://www.telegraph...ilout-fund.html

Well its looks like we are about to get really poorer really quick now. Why hasn't this been splashed all over the MSM?

Let's look at how the 'Rescue Fund' is made up.

post-23-0-95520600-1371892313_thumb.png

There are several players in the above who I have no doubt are raring to hand over their contributions……..not! Countries already attracting bailouts having to stump up to bail out EU wide banking?

The lunatics have already taken over the asylums!

So what's likely to happen really……………EU/ECB money printing on a huge scale or even a contemptuous use of fractal banking. Either way paper money (FIAT) is going to be under intense pressure to survive in any form never mind with any worth.

Draghi is ignoring any constitutional and democratic laws which get in his way and it's now a case of his way or the highway.

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