- The Eurozone is bust! Almost all the economies have debt to GDP over 100%. Even the best of the lot, France and Germany have ratio of about 80% (and that is excluding all the off balance sheet items, and many shenigans). The Euro is in no way a better fiat currency than the USD or JPY. It is the least ‘ugly’ but ugly it is!
- The Illuminists are setting up the world for an economic, financial and monetary collapse. All major currencies are toast: UKP, Euro, JPY … and finally USD. The USD will be the last to collapse. With its collapse, the monetary fiat currencies hell will come about. When all fiat currencies are destroyed, the Illuminists will usher in their One World Currency backed by gold. All who refuse to submit to this new global monetary hegemony, will have wars knocking at their doorsteps. Submit to this Luciferian New World Order —>’666′ or else they will park their nuclear aircraft carrier beside your bed! I doubt you will sleep soundly.
Portugal braces for govt collapse over debt vote
By BARRY HATTON, Associated Press Barry Hatton, Associated Press – Tue Mar 22, 1:38 pm ET
LISBON, Portugal – Portugal’s government is on the verge of collapse after opposition parties withdrew their support for another round of austerity policies aimed at averting a financial bailout.
The expected defeat of the minority government’s latest spending plans in a parliamentary vote Wednesday will likely force its resignation and could stall national and European efforts to deal with the continent’s protracted debt crisis.
The vote comes on the eve of a two-day European Union summit where policymakers are hoping to take new steps to restore investor faith in the fiscal soundness of the 17-nation eurozone, including Portugal.
Last year, both Greece and Ireland had to accept multibillion dollar rescue packages after markets lost faith in their governments’ efforts to deal with their debt burdens.
By most measures, Portugal is one of the eurozone’s smallest and feeblest economies but its financial collapse would likely trigger a fresh bout of nerves over other debt-heavy — and bigger — euro countries such as Spain, Belgium and Italy.
“Portugal seems very likely to become the third … eurozone country to need a bailout,” Emilie Gay, European economist at Capital Economics said.
The governing Socialist Party’s parliamentary leader Francisco Assis made an 11th-hour appeal for opposition rivals to negotiate changes to the latest austerity package and ensure the government’s survival. Prime Minister Jose Socrates, who heads the government, has said he will no longer be able to run the country if the package is rejected.
“This is a decisive moment,” Assis said Tuesday.
Markets have heaped pressure on Portugal over the past year as investors demanded ever higher returns for lending it money, driving the country’s borrowing costs to intolerable levels.
The yield on its 10-year bond, for example, was at 7.4 percent Tuesday — not far from euro-era records. The interest rate has been above 7 percent for several weeks despite the government’s earlier austerity measures which, its political rivals say, failed to quell investor fears. Even so, the government has insisted it can weather the current difficulties and doesn’t need a bailout.
The government’s austerity measures have won praise from other European countries, but they are only half the story: Portugal urgently needs to generate fresh growth.
The economy is in deep trouble, with a double-dip recession expected this year and unemployment standing at a record 11.2 percent. Moody’s recently downgraded the country’s credit rating, and Standard & Poor’s has warned it may follow suit.
As in Greece, the austerity policies have prompted numerous strikes, with train engineers set to walk off the job during the morning commute Wednesday. Portugal’s plight stems from a decade of miserly growth. While growing at the tepid rate of 1 percent a year, it ran up debt to finance its western European lifestyle.
Bill Bonner on the Failing US Bond Market, the Coming Hyperinflation and the End of the Dollar Reserve System!
- The collapse of the USD is not just an increasing probability. It is an absolute certainty! IMO, both the US treasury market and USD will collapse. The FedRes will QE to infinity. When foreigners realize that they will be paid worthless USD for their US bonds, do you still think they will hang on to it? The US government will not default on its debts publicly but via massive money printing to pay off its debts. This is a stealth default but nevertheless a default.
- US treasuries and the USD are held by almost all nations on earth. This is because oil is bought and sold in USD. When the USD collapses by say 50% overnight, it will cause immeasurable hardship throughout the world. Imagine say a country with US$10B of USD reserves that it uses for oil purchase and international trade, overnight it loses US$5B of purchasing power. Oil prices and commodity prices will rally. International trade will be disrupted as prices of goods will be raised. Countries will start rejecting the USD for trade settlement and the problem escalates! Many countries will become insolvent and not able to import goods. Gold (and silver) will return as money once again, especially for international trade settlement!
- This coming collapse of the USD and treasury market is not merely an US problem. It is a global monetary calamity. All major currencies will also collapse and the minor fiat currencies will follow along. The situation in the UK, Eurozone and Japan is hardly any better!
Bill Bonner on the Failing US Bond Market, the Coming Hyperinflation and the End of the Dollar Reserve System
by Anthony Wile, The Daily Bell
The Daily Bell is pleased to present another exclusive interview with Bill Bonner (left).
Introduction: Since founding Agora Inc. in 1979, Bill Bonner has found success and garnered camaraderie in numerous communities and industries. A man of many talents, his entrepreneurial savvy, unique writings, philanthropic undertakings, and preservationist activities have all been recognized and awarded by some of America’s most respected authorities. Along with Addison Wiggin, his friend and colleague, Bill has written two New York Times best-selling books, Financial Reckoning Day and Empire of Debt. Both works have been critically acclaimed internationally. With political journalist Lila Rajiva, he wrote his 3rd New York Times best-selling book, Mobs, Messiahs and Markets, offering concrete advice on how to avoid the public spectacle of modern finance. Since 1999, Bill has been a daily contributor and the driving force behind The Daily Reckoning.
Daily Bell: Let’s get an update from one of our favorite hard-money mavens. Where is the world today? Recovering?
Bill Bonner: No, there is no recovery possible or desirable. That is, the world is not going back to the naive bubble of the ’05 – ’07 years. And no one should or would want it to. It’s moving on – to a new bubble. The US consumer sector is de-leveraging. Household debt is at its lowest level in 6 years – thanks largely to mortgage defaults.
But at the same time, the feds are desperately trying to releverage the whole economy. They’re having success in two areas. Business loans are still down from 2009, but they’re moving up. Corporations are able to borrow money merely in order to make payouts to shareholders. In other words, capital is changing hands … from the fools to the knaves. Typically, private equity hotshots are borrowing money at low rates so they can pay themselves off. The underlying business is weakened with debt; but nobody seems to care.
Daily Bell: Any other areas of growth?
Bill Bonner: The other sector of the economy that is leveraging up in a big, and I mean in a really big way, is government. Here again, the money goes from the fools to the knaves. Government squanders the money in all the usual ways, while the lenders believe they will get it back. Both can’t be right. My guess is that the lenders will be wrong. They are making a bad bet. There is no recovery. They will not be repaid.
Daily Bell: How about the particulars. Will the EU hold together?
Bill Bonner: Yes, the EU will probably hold together. It could always shuck off the periphery states if it had to do so.
Daily Bell: Where is Germany headed?
Bill Bonner: I have no opinion on Germany. Except that it is a relatively solid economy, selling things to people who want to buy them. Not a very original business model, but not a bad one.
Daily Bell: How about the PIGS?
Bill Bonner: Eventually, someone, somewhere, somehow must suffer the PIGS debt. They cannot repay it. So, someone else must – either the bondholders or the taxpayers or the whole society. Most likely it will be all of the above.
Daily Bell: Will the Greeks will devalue eventually?
Bill Bonner: They will eventually default and restructure.
Daily Bell: Even the Irish?
Bill Bonner: Yes.
Daily Bell: There is a lot of anger against the EU. Was it anticipated?
Bill Bonner: Everyone believes that some combination of political will and technical competence can make these problems go away. They can’t. Debt does not disappear. It can be hidden. It can be delayed. However, it can be put onto someone else. But it is still there. The EU has tried desperately to make the debt vanish. People are disappointed that it hasn’t.
Daily Bell: They believed an economic crisis would force a political union. That doesn’t seem to be the case. Why?
Bill Bonner: Different countries have different interests. They can get together in the upswing of a credit expansion because they all seem to do better as a result. But in the downswing each tries to grab a bigger share of a diminishing pie. It is a fight for survival, not a love-in.
Daily Bell: The Germans won’t stand for an EU bailout of British and French banks. Will the British and French taxpayers provide the bailout?
Bill Bonner: Probably. German banks have a lot of exposure to periphery state debt too. And everyone in a position of authority has the same interest – to slip the losses onto the taxpayers, without them realizing it. The losses won’t go away. They won’t disappear. They can’t be paid. So someone must suffer them. The idea will be to manage and “share the pain.” There will be some restructuring … some write offs … and a lot of obfuscation. As long as interest rates can be held at such low levels, the problem can be put off because it costs so little to service the debt. Meanwhile, inflation even at fairly low rates wears away at the real weight of the debt. Problem delayed, problem solved. That’s what they have in mind.
Daily Bell: What if these banks flounder? Double dip? Won’t that split the union asunder as well?
Bill Bonner: If the banks go down (and they should) it will trigger a short panic. In crisis mode, politicians will look for scapegoats and miracle cures. But letting the banks go down would strengthen, not weaken, the euro. It would ultimately probably strengthen the EU too.
Daily Bell: What will they do to try to save the union? How do you negotiate when the German and PIG positions are so polarized?
Bill Bonner: This might be a good thing. They may not be able to work out a coordinated fraud at taxpayers’ expense.
Daily Bell: Let’s move on the Chinese miracle. The Chinese have been throwing the kitchen sink at price inflation with little or no result. What can they do to damp it? We think it’s futile.
Bill Bonner: The Chinese only have the illusion of control. The Chinese economy will blow up.
Daily Bell: They’ve even been trying price controls. Who’s running the show? Are they really that economically illiterate?
Bill Bonner: No … no … they’re not economically illiterate. That’s the problem. They’re economically sophisticated. They’ve learned all the claptrap of the economics profession in the last 50 years. They think they can use it to control the economy. So did Japan, by the way. It was only a quarter century ago that people thought Japan had the magic. Back then Japan’s economy was not so much managed as guided by MITI, its centralized industrial planning board. Foreign economists so admired the work of the planners that they urged the US, Britain and other nations to follow the Japanese example. They were unaware the biggest successes in Japan came in industries where entrepreneurs and businessmen had been able to ignore MITI. In the auto industry, for example, MITI told Honda and Toyota to stay out of the US market. It was too competitive, said the planners. But Japanese automakers went in anyway – with spectacular results.
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- Zionist ’666′ Israel commits acts of genocide and ethnic cleansing against the Palestinians daily! Zionist ’666′ Israel is a Satanic counterfeit. Ashkenazi Khazars (80%-90% of modern Jewry) are not the Jews of the Bible! They were never the chosen race and their ancestors were never in Palestine! What these Zionists do to the Palestinians is called: genocide and ethnic cleansing! See also: The Zionist Story! Genocide And Ethnic Cleansing of Palestine! Through The Eyes of An Ex-Israeli Soldier!
1980 Jewish Almanac
“Strictly speaking it is incorrect to call an ancient Israelite a ‘Jew’ or to call a contemporary Jew an Israelite or a Hebrew.”
(1980 Jewish Almanac, p. 3)
The Jewish Encyclopedia:
“Khazars, a non-Semitic, Asiatic, Mongolian tribal nation who emigrated into Eastern Europe about the first century, who were converted as an entire nation to Judaism in the seventh century by the expanding Russian nation which absorbed the entire Khazar population, and who account for the presence in Eastern Europe of the great numbers of Yiddish-speaking Jews in Russia, Poland, Lithuania, Galatia, Besserabia and Rumania.”
The American Peoples Encyclopedia
… for 1954 at 15-292 records the following in reference to the Khazars: “In the year 740 A.D. the Khazars were officially converted to Judaism. A century later they were crushed by the incoming Slavic-speaking people and were scattered over central Europe where they were known as Jews.
“You shall neither mistreat a stranger nor oppress him, for you were strangers in the land of Egypt.”
“Also you shall not oppress a stranger, for you know the heart of a stranger, because you were strangers in the land of Egypt.”
‘And if a stranger dwells with you in your land, you shall not mistreat him.’
The stranger who dwells among you shall be to you as one born among you, and you shall love him as yourself; for you were strangers in the land of Egypt: I am the LORD your God.
‘When you reap the harvest of your land, you shall not wholly reap the corners of your field when you reap, nor shall you gather any gleaning from your harvest. You shall leave them for the poor and for the stranger: I am the LORD your God.’
You shall have the same law for the stranger and for one from your own country; for I am the LORD your God.
22 It shall be that you will divide it by lot as an inheritance for yourselves, and for the strangers who dwell among you and who bear children among you. They shall be to you as native-born among the children of Israel; they shall have an inheritance with you among the tribes of Israel. 23 And it shall be that in whatever tribe the stranger dwells, there you shall give him his inheritance,” says the Lord GOD.
- The so-called Star of David is a Satanic symbol. Satanists and occult practitioners use it for calling Satan and demons!
Former Satanist, Bill Schnoebelen (now born again Christian)
“A hexagram must be present to call forth a demon” and ” it is a very powerful tool to invoke Satan”.
“To the sorcerer, the hexagram is a powerful tool to invoke Satan.” In fact, the word “hex” — as to put a “hex” or “curse” on people — comes from this word.
If you examine the so-called “Star of David,” or hexagram, closely, you will discover something astonishing. It has six points, forms six equilateral triangles, and in its interior forms a six sided hexagon — thus it reveals the number of Satan’ antichrist beast, — 6 points, 6 triangles, and the 6 sides of the hexagram — 666 !!!
- “Induced Seismicity” Workshop
Induced seismicity deals with man-made ground shaking due to direct human intervention inside the Earth such as deep mining, water reservoirs etc. Earthquakes induced by geothermal exploration activities, sometimes called deep heat mining….