Euro Under Siege As Portugal Hits Panic Button! Ireland Told: Take EU Bailout or Trigger Crisis!
They may be useful as wallpaper soon!
- Trouble is surfacing in Euroland. Looks like the snakes are taking turns bashing the industrialized world. It was America, now it is Eurozone’s turn. I have no doubts that the Eurozone will QE to infinity as a result of this sovereign debt crisis! All major fiat currencies are heading towards meltdown!
Euro under siege as now Portugal hits panic button
The euro is facing an unprecedented crisis after another country indicated on Monday night that it was at a “high risk” of requiring an international bail-out. Portugal became the latest European nation to admit it was on the brink of seeking help from Brussels after Ireland confirmed it had begun preliminary talks over its debt problems.
Greece also disclosed that its economic problems are even worse than previously thought. Angela Merkel, the German Chancellor, raised the spectre of the euro collapsing as she warned: “If the euro fails, then Europe fails.” European finance ministers will meet in Brussels on Tuesday to begin discussions over a new European stability plan that is expected to result in billions of pounds being offered to Ireland, Portugal and possibly even Spain.
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The veteran Conservative MP Peter Tapsell warned that the “potential knock-on effect” of the Irish crisis “could pose as great a threat to the world economy as did Lehman Brothers, AIG and Goldman Sachs in September 2008″. Ireland has resisted growing international pressure to accept EU financial assistance amid concerns that this would lead to a surrender of political and economic sovereignty.
However, the German government is expected to signal that Ireland may have to accept a pounds 77?billion bail-out, along with a loss of economic and political independence, as the price of preserving the euro. Mrs Merkel said that the single currency was “the glue that holds Europe together”. Her words came as fellow eurozone members Portugal and Spain rounded on Ireland. They fear that international concerns over the euro will lead to so-called market contagion spreading to them.
Fernando Teixeira dos Santos, the Portuguese finance minister, said: “There is a risk of contagion. The risk is high because we are not facing only a national problem. It is the problems of Greece, Portugal and Ireland. This has to do with the eurozone and the stability of the eurozone, and that is why contagion in this framework is more likely.” Mr Teixeira dos Santos added: “I would not want to lecture the Irish government on that. I want to believe they will decide to do what is most appropriate together for Ireland and the euro. I want to believe they have the vision to take the right decision.” He later sought to clarify his comments, insisting that Portugal was not preparing to seek assistance.
Greece had earlier added to the growing uncertainty when it said it would breach the conditions for the bail-out it was granted by the EU earlier in the year. The Greek government said its debt problem was far worse than previous dire forecasts.
Ireland told: Take EU bailout or trigger crisis
Dublin warned it has 24 hours to make decision as EU emergency talks loom amid fears Irish banks’ contagion may spread to other eurozone countries
An increasingly isolated Irish government was coming under mounting pressure tonight to seek an EU or International Monetary Fund bailout within 24 hours amid fears that contagion from its crippled banking sector might spread through the weaker eurozone countries.
Portugal, Spain, the European central bank and opposition parties urged Brian Cowen’s coalition government to remove the threat of a second crisis in six months by putting a firewall between Ireland and its 15 partners in the single currency.
With finance ministers from the eurozone due to hold emergency talks tomorrow night, financial markets were expecting Dublin to finalise negotiations with the EU over the terms of a deal to allow Ireland to rescue banks laid low by the collapse of the country’s construction boom.
“The Irish problem is spreading, but it could get more volatile,” said Ashok Shah, chief investment officer at London Capital, a fund management firm. “They have to get this bailout, they have a period of time before it gets impossible, before nasty things happen. The longer they leave it, the more difficult it will get.”
Portugal has seen its borrowing costs rocket along with Ireland’s as speculation has grown that it too may have to consider a bailout. Its finance minister, Fernando Teixeira dos Santos, told the Wall Street Journal his country had been hit by a contagion effect caused by fears about Ireland’s ability to pay its debts.
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James Turk: The Outlook for Silver Remains Very Bullish!
Source: James Turk, www.fgmr.com
- Maestro James Turk is totally correct. US$50/oz by end of the year is not out of the question. So far, there are 3 lawsuits: class action and RICO filed against JP Morgan and HSBC. (See: Girard Gibbs LLP Investigates J.P. Morgan, HSBC for Violations of Antitrust Laws in Silver Futures Trading) There are many pissed investors out there. There are also many Big Boys who smell blood and are going for the kill.
The Outlook for Silver Remains Very Bullish
November 14, 2010 – Silver’s short-term uptrend remains intact, notwithstanding silver’s big price drop on Friday. The fundamental factors driving silver higher have not changed. The outlook for silver remains very bullish.
There has been no damage to silver’s technical condition. For example, silver is above its 21-day moving average. Also, silver remains well above $25, its last major resistance level. More importantly, the price drop at the end of the week occurred with bullish sentiment taking a nosedive. These conditions bode well for silver’s short-term outlook, as does the following chart.
The above chart will be familiar because it is the one I used on King World News on October 28 to forecast a $30 silver price in less than 18 trading days. Silver closed that day at $23.871. On November 9, only 8 trading days later, it reached $29.342 – nearly hitting my target. The good news is that my reading of the above chart indicates that silver might yet reach $30 within my 18-day target, i.e, November 23.
Note the new pattern silver has formed. It is a pennant, and these have the same features as the flag pattern upon which I based my $30 forecast. Both are continuation patterns within uptrends. They allow for a short-term consolidation, mainly to work-off some bullish sentiment, which accurately describes what happened in silver as this pennant formed over the past few days. A pennant pattern typically ends with an upside breakout.
My expectation therefore, is that silver will break out of this pennant to the upside, and probably early this week. The demand for physical silver remains very strong, and it is the demand for physical silver, and not paper-silver, that ultimately determines the silver price.
Most trading in physical silver takes place in London and Zurich. The weakness on Friday occurred after both of these centers had closed. That means that prices were driven down in the paper market. We have seen these late Friday raids to ‘paint the tape’ many times over the past decade, so this latest one should not be a surprise. But what is indeed a surprise to me is that the silver shorts would try this gambit now when the physical market is so tight. Lower prices will only heighten the demand for physical metal. Thus, I expect the silver price to rebound sharply this week.
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Max Keiser: Crash JPMorgan, Buy Silver Now!
- The Illuminist banksters control the world of fiat (fraudulent) paper currencies. Gold and silver are a threat to their scam. This is because gold and silver have always been money for 5000+ years. When they rise in price, it means that people are losing confidence in the fiat currency CONfidence JOB. This is the reason why the price of gold and silver are suppressed.
- However, it looks like the Illuminist bullion banksters are losing control of the silver market. Last Tuesday about 160% of annual silver production were bought and sold in the Comex(Crimex). It is obvious that most of these paper silver shorts were naked ie those who sold them do not have any silver backing the sale.
Crash JPMorgan, Buy Silver Now
Basically, the Art of Deception is nothing new, especially in financial markets. Deception is fundamentally at the very heart of the American Financial System given that the Federal Reserve is not a federal institution but rather a syndicate of Global Banks – also known as the World Central Banks. Some would argue – the New World Order.
THE WORLDWIDE REVOLUTION IN ON
The following Videos are representative of the Worldwide Effort Underway NOW to Crash JPMorgan by taking PHYSICAL DELIVERY of ALL METALS. Silver which is traded via ETF (electronic traded funds), where reportedly, JPMorgan and others have been MASSIVELY Overselling Silver at a rate of 100 to 1. By demanding delivery, people are legally demanding their Silver to be delivered into their possession.
There IS the possibility that as people worldwide demand delivery, the Banks will divert huge sums of cash into the ETF to bring the Spot price up to historical levels, possibly $100.00, in an effort to keep traders in the market in yet another attempt at the deception. Investors will believe the ETF are actually a tremendous investment, when in fact, it is part of a STRATEGY to escalate the SPOT price, thereby slowing the FLOW of Physical purchases. We will have to see if this is what takes place – this is my personal prediction. People with ETF should beware of this strategy which will inevitably lead to a Bull Market and the hesitation to DEMAND DELIVERY.
Of course, one should also keep in mind the foot-dragging on the part of the CFTC in investigating the scheme discovered and testified to before the CFTC Board recently by GATA Chairman Paul Murphy. GATA Chairman Bill MurphyTestifies to CFTC 1 & CFTC 2
Credit should be awarded to MAX KEISER who courageously stated on Alex Jones that there would be a possibility of CRASHING JBMORGAN by BUY SILVER as a campaign that has a dual purpose. One, and more importantly, is to create a worldwide awareness to this issue, and two, a massive discrediting of the FIAT Monetary System as a whole and the transfer of Individual Wealth into Physical Commodities – like Silver, Gold, Copper, Platinum and Palladium.
PEOPLE ARE F’ING PISSED
People are F’ING PISSED at the Evil and Deliberate Perpetration of the Economic Destruction by Design against the World Economy in what amounts to an Elite / NWO / Bankster effort to decapitate the well-being, stability and financial security of Nations the world over in what obviously is estimated to be the ENDGAME to Global Governance and Total Control of every facet of humanity through Banking and World Government.
Who else can orchestrate this but a cooperation of Global Players like The United Nations, The World Bank and other unknown and more importantly, unseen individuals. Don’t be a SHEEP – WAKE UP.
MAX KEISER
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Growing Signs of Renewed Debt Crisis in Europe!
“We shall have World Government, whether or not we like it. The only question is whether World Government will be achieved by conquest or consent.”
James Paul Warburg
(1896-1969) son of Paul Moritz Warburg, nephew of Felix Warburg and of Jacob Schiff, both of Kuhn, Loeb & Co. which poured millions into the Russian Revolution through James’ brother Max, banker to the German government, Chairman of the CFR
- The sovereign debt crisis has not gone away. Things have gotten worse. More debts have been piled on top of existing debts. The Illuminist banksters are making the problem irretrievably worse. Their intention is a massive detonation of the entire world’s economic, financial and monetary system. Their philosophy is always Order Out of Chaos (Skull & Bones). America, UK, EU and Japan are essentially bankrupt! The endgame is a One World Currency, Global Central Bank and World Luciferian Government.
Growing signs of renewed debt crisis in Europe
There are growing signs of a renewed debt crisis in a number of European nations, as bond yields soar to record highs and the continent’s economic growth stagnates.
The heads of leading European countries took the exceptional step of using the Group of 20 meeting in Seoul to announce that the European Union had confidence in the measures undertaken by Irish leaders to address the nation’s budget deficit. At the same time, the leaders of Germany, France, Italy and the United Kingdom issued a statement declaring that the EU had no plans for an additional bailout of European nations until at least 2013.
Bond yields have been driven up in part in response to calls from Germany for revamping bailout mechanisms to place a greater burden on private investors, as opposed to European governments. To calm markets, European leaders stressed on Friday that the proposed new bailout mechanism “does not apply to any outstanding debt.”
The communiqué in Seoul came one day after statements from Irish government sources and the chairman of the Eurozone group of countries, Jean-Claude Juncker, denying that Ireland was preparing to apply for emergency aid from the EU.
Speculation has been rife in the financial press this week that a bailout of Ireland and other stricken European countries was the only solution to their insurmountable economic problems.
The yield on Irish debt has climbed to its highest level since the launch of the euro in 1999. This is despite reports that the European Central Bank has sought to intervene on Ireland’s behalf with large-scale purchases of government bonds.
Major bond investors are pricing Irish debt at risk levels as high as Greek debt earlier this year, prior to the creation of a massive €440 billion emergency rescue fund by EU states. The European Financial Stability Fund (EFSF) was backed up by a further €60 billion from the European Commission and €250 billion from the IMF. The EFSF fund was agreed following a separate €110 billion bailout package for Greece in May.
….. to continue reading click here!
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Demand To See Your Mortgage Note! Make The Bank Prove It Owns Your Mortgage!
- The Illuminist banksters are robbing Americans blind. You should be really pissed. These Illuminists want to drag the world into their New World Luciferian Order scam. They want to control us totally via micro-chipping with ’666′. No way in hell, heaven or earth should we take this lying down. Here are 2 websites, that make it easy for you:
Where’s your note? Has it been lost somewhere along the way?
Make the bank prove it owns your mortgage
You can also verify your loan servicer with MERS online — takes about 45 seconds:
Look Up Your Mortgage at MERS
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Israel’s Treatment of Ethiopians Called ‘Racist’!
Revelation 2:9 - .... and I know the blasphemy of those who say they are Jews and are not, but are a synagogue of Satan.
Palestine Before and After The Zionists Came!
Revelation 2:9 - .... and I know the blasphemy of those who say they are Jews and are not, but are a synagogue of Satan.
Cash-Hungry US War Industry Stays Armed As Schools & Clinics Close!
- Who owns the military industrial complex (MIC)? The Illuminist banksters. War is really about stealing from the sheeple to finance their MIC. The sheeple gets to be the cannon fodder in human sacrifice to their Abaddon/Apollyon ‘god’. Do not get involve in any of these Illuminist generated wars!
Daniel 11:37-39 (New King James Version)
37 He shall regard neither the God[a] of his fathers nor the desire of women, nor regard any god; for he shall exalt himself above them all. 38 But in their place he shall honor a god of fortresses; and a god which his fathers did not know he shall honor with gold and silver, with precious stones and pleasant things. 39 Thus he shall act against the strongest fortresses with a foreign god, which he shall acknowledge, and advance its glory; and he shall cause them to rule over many, and divide the land for gain.
- War is a Racket, General Smedley Butler:
WAR is a racket. It always has been.
It is possibly the oldest, easily the most profitable, surely the most vicious. It is the only one international in scope. It is the only one in which the profits are reckoned in dollars and the losses in lives.
A racket is best described, I believe, as something that is not what it seems to the majority of the people. Only a small “inside” group knows what it is about. It is conducted for the benefit of the very few, at the expense of the very many. Out of war a few people make huge fortunes.
In the World War [I] a mere handful garnered the profits of the conflict. At least 21,000 new millionaires and billionaires were made in the United States during the World War. That many admitted their huge blood gains in their income tax returns. How many other war millionaires falsified their tax returns no one knows.
How many of these war millionaires shouldered a rifle? How many of them dug a trench? How many of them knew what it meant to go hungry in a rat-infested dug-out? How many of them spent sleepless, frightened nights, ducking shells and shrapnel and machine gun bullets? How many of them parried a bayonet thrust of an enemy? How many of them were wounded or killed in battle?
Out of war nations acquire additional territory, if they are victorious. They just take it. This newly acquired territory promptly is exploited by the few — the selfsame few who wrung dollars out of blood in the war. The general public shoulders the bill.
…. to continue reading click here!
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About
Societal and economics observer and commentator with an endtimes, future history perspective. Follow me at Twitter: socioecohistory
