There problems started when the abolished the Drachma and replaced it with the Euro|||First, all European countries are "small" in global terms. And most are similar in size to Greece (by population, geographically, economically, or whatever). The EU was founded on the principle of equality, not domination of smaller countries by bigger ones.
Secondly, the problem here is with the euro, not the EU. The euro:
(1) allowed Greece to borrow at lower costs than it otherwise could, so there was no pressure to keep spending in check
(2) increased the cost of living in Greece
(3) decreased the Greek government's ability to adjust its economic policies, since the countries have to act in tandem.
What people have now realized is that for the eurozone to survive, it will must have common economic regulation.|||It is not the EU as such, but the Euro.
Greece needs to dump the Euro and return to a floating Drachma, this way it could just trade its way out of the problems.
The trouble is would a Socialist Governement take a Capitalist move like that.
After all it would be putting its Family (Capitalism) above the State (Socialism)|||The Euro was a disaster from the beginning,valuation of the Euro varied from country to country and the central fund did not perceive the potential danger of these confounding variables,in other words,the Euro had no fixed standard so if one country fails it creates a domino effect so the E.U is panicking as there are more than one domino,so an unbalanced currency bloc is not as safe as the pound of the dollar and they are having problems.
Another thing,the E.U wasting money on a bureaucrats fools paradise,it is too big to be administered properly,far too many unqualified people are in positions of power and their input is damaging legal systems,immigrant system et al,this gravy train will have to pull into the station,down size,give power back to member countries,simplify complex rulings and start cutting salaries to a realistic level.
The concept of the E.U,came from the mind of Arthur C Clarke who created the United States of Europe as a concept for a sci fi novel and of course some idiot thought this a good idea,wrong.|||The problem's not with the EU, but with the Euro. The idea of a common currency is that everyone sticks to the rules. Instead, Greece, Ireland and Portugal decided to run up huge budget deficits (that means they spent a lot more than they raised in tax and borrowed the rest from central funds). There's a chance that Ireland and Portugal could dig their way out by taxing their richer citizens and curbing spending. Greece ain't going to get there unless it starts taxing its shipping tycoons in a big way.
If they can't pay their debts, lets send the bailiff's in. Italy can repossess Corfu and Britain can have the Acropolis (it will give us somewhere to keep our marbles). I'm sure the Germans could run the Dodecanese at a profit.|||Greece is not small. The problem is big about the size of Argentina plus Russia.And Greece was not the country in the Lome convention. It was a member through enlargement. It passed the test. And Greece was not the source of the problem.The US was.|||I'm too far removed from the situation to contribute much to the question...other than to comment...if Greece, Spain, Portugal etc are chin deep in the s##t.....how are other member states like Bulgaria, Cyprus, Malta, Romania, etc getting on?|||Greece should never have qualified as a member. If you invite a drunk to live you with, you shouldn't be surprised when he trashes the house.|||twa
Saturday, February 18, 2012
Is the financial crisis a global conspiracy?
one tidbit is England selling half of its country's gold when it was at a 20 year low.|||The fact that you're asking this question proves that something is going on that isn't widely known or talked about.|||Nope.
Just a lot of people thinking along similar lines. My friends and I don't have to call and email each other to figure out how to react to a news story. Do you do that? Still, those of your friends of the same political stripe as yourself probably have about the same opinions on current events.
This is probably true for most people but for some reason, any time a bunch of liberals (or especially a bunch of conservatives) come up with the same ideas, the other side assumes it's a conspiracy. Well, it's usually just consensus.|||Depending on who you ask. The people who know how to invest are making a killing. The average person who has no financial education is losing their shirts and houses because they bought into the claim that all credit is good and don't know the real risks to a lot of financial things.
What I am seeing is that the average consumer in most parts of the industrialized world is too far in debt and can not continue to spend.|||the us financial crisis is what bin laden wanted all along...he's winning.
Other countries are going through it as well because America lead the world in financial security...it's the domino effect. We have investments all over the world, so it's to be expected for everyone to be effected.|||Definitely. Look at the history.
9/11: It has never been solved what happened and how. There are many websites out there showing pictures, details and evidence that it has been orchestrated.
War in Iraq. Conspiracy of the army companies like Halliburton, Blackwater and others. First, the government talked about WMD, nobody ever found anything in Iraq. Who makes money there, these companies.
Oil bubble. The oil bubble bursted in the summer. In the summer, oil was $140 / barrel. Now it is $50. Why? Because a few rich guys play the game at the top. They make money regardless of whether the price goes up or down, it just has to move in shocks which they know to anticipate.
Real-estate bubble. Who holds the key to all this? FED, those guys that run Freddie Mac, those guys that run the big investment banks. They are so BIG, so POWERFULL that they get they money regardless of whether they loose in the stock market. If they loose in the stock market, they get it from the TAXPAYER = YOU. They know how to talk to politicians.
Every game has a winner, every game has a looser, every game has the guy that hands out the cards.
http://www.maxi-pedia.com/forum/index.ph鈥?/a>
(Whom to blame for the financial mess - bank management or stock holders?)
|||Yes, the money people are swindling the people while gaining more power. Very soon they will be in every nook and cranny of our lives and there isn't going to be a damn thing we can do about it.
Here is some information of how that is all coming about:
Look at the back of a dollar bill
It says Federal Reserve System
How many of you know that system is privately owned?
How many of you know that the Federal Reserve System is controlled by a few banks and a handful of very rich people?
How many of you know that the chairman of the Federal Reserve System is probably the most powerful man on the planet?
The Federal Reserve System controls our money supply
Prints our money
Interest rates
encourages you to be in debt
lends money to our government while you the tax payer are paying interest on that debt.
That our money is not backed by anything tangible, such as gold or silver, but only backed with a promise.
In short, they control just about every aspect of your life, your money, your credit cards, your mortgage, your car loan, student loans, your retirment, etc.
Including having their hands in getting us involved in money making wars.
The smartest thing I ever did was chose to live debt free about 20 years ago. It is amazing how much of our money is eaten up by the Federal Reserve System, and how much more disposable income I had because I made the right choice.
And more information about the federal reserve system:
http://www.apfn.org/apfn/reserve.htm
And this audio from Senator Ron Paul
http://www.apfn.net/pogo/M001I0604251938鈥?/a>
And video
http://www.youtube.com/watch?v=ji_G0MqAq鈥?/a>
Other prespectives
http://www.tysknews.com/Depts/Taxes/fed_鈥?/a>
http://www.truthusa.org/articles/fed/fed鈥?/a>
For more information about this and other important issues, download this:
TVU Player
http://pages.tvunetworks.com/downloads/p鈥?/a>
Then I would tune into:
Channel 68078
Exposing 9/11, police state and tyranny
Documentaries about 911 and other social issues over and over again.
|||Yes it is. They are pushing for a new world order. A world economic and currency system. To lay the foundations for a global government.|||NWO.|||i see what your getting at, it could be true|||My, my. England's version of the Plunge Protection Team. I should have known our government wasn't in that alone.
Just a lot of people thinking along similar lines. My friends and I don't have to call and email each other to figure out how to react to a news story. Do you do that? Still, those of your friends of the same political stripe as yourself probably have about the same opinions on current events.
This is probably true for most people but for some reason, any time a bunch of liberals (or especially a bunch of conservatives) come up with the same ideas, the other side assumes it's a conspiracy. Well, it's usually just consensus.|||Depending on who you ask. The people who know how to invest are making a killing. The average person who has no financial education is losing their shirts and houses because they bought into the claim that all credit is good and don't know the real risks to a lot of financial things.
What I am seeing is that the average consumer in most parts of the industrialized world is too far in debt and can not continue to spend.|||the us financial crisis is what bin laden wanted all along...he's winning.
Other countries are going through it as well because America lead the world in financial security...it's the domino effect. We have investments all over the world, so it's to be expected for everyone to be effected.|||Definitely. Look at the history.
9/11: It has never been solved what happened and how. There are many websites out there showing pictures, details and evidence that it has been orchestrated.
War in Iraq. Conspiracy of the army companies like Halliburton, Blackwater and others. First, the government talked about WMD, nobody ever found anything in Iraq. Who makes money there, these companies.
Oil bubble. The oil bubble bursted in the summer. In the summer, oil was $140 / barrel. Now it is $50. Why? Because a few rich guys play the game at the top. They make money regardless of whether the price goes up or down, it just has to move in shocks which they know to anticipate.
Real-estate bubble. Who holds the key to all this? FED, those guys that run Freddie Mac, those guys that run the big investment banks. They are so BIG, so POWERFULL that they get they money regardless of whether they loose in the stock market. If they loose in the stock market, they get it from the TAXPAYER = YOU. They know how to talk to politicians.
Every game has a winner, every game has a looser, every game has the guy that hands out the cards.
http://www.maxi-pedia.com/forum/index.ph鈥?/a>
(Whom to blame for the financial mess - bank management or stock holders?)
|||Yes, the money people are swindling the people while gaining more power. Very soon they will be in every nook and cranny of our lives and there isn't going to be a damn thing we can do about it.
Here is some information of how that is all coming about:
Look at the back of a dollar bill
It says Federal Reserve System
How many of you know that system is privately owned?
How many of you know that the Federal Reserve System is controlled by a few banks and a handful of very rich people?
How many of you know that the chairman of the Federal Reserve System is probably the most powerful man on the planet?
The Federal Reserve System controls our money supply
Prints our money
Interest rates
encourages you to be in debt
lends money to our government while you the tax payer are paying interest on that debt.
That our money is not backed by anything tangible, such as gold or silver, but only backed with a promise.
In short, they control just about every aspect of your life, your money, your credit cards, your mortgage, your car loan, student loans, your retirment, etc.
Including having their hands in getting us involved in money making wars.
The smartest thing I ever did was chose to live debt free about 20 years ago. It is amazing how much of our money is eaten up by the Federal Reserve System, and how much more disposable income I had because I made the right choice.
And more information about the federal reserve system:
http://www.apfn.org/apfn/reserve.htm
And this audio from Senator Ron Paul
http://www.apfn.net/pogo/M001I0604251938鈥?/a>
And video
http://www.youtube.com/watch?v=ji_G0MqAq鈥?/a>
Other prespectives
http://www.tysknews.com/Depts/Taxes/fed_鈥?/a>
http://www.truthusa.org/articles/fed/fed鈥?/a>
For more information about this and other important issues, download this:
TVU Player
http://pages.tvunetworks.com/downloads/p鈥?/a>
Then I would tune into:
Channel 68078
Exposing 9/11, police state and tyranny
Documentaries about 911 and other social issues over and over again.
|||Yes it is. They are pushing for a new world order. A world economic and currency system. To lay the foundations for a global government.|||NWO.|||i see what your getting at, it could be true|||My, my. England's version of the Plunge Protection Team. I should have known our government wasn't in that alone.
What were some of the reasons for Thailand financial crisis?
Globalization and IMF.....
IMF affected almost all developing and 3rd-world countries, including African countries and Asian countries.
Go watching "Life%26amp;Debt" documentary and you'll understand better how IMF and globalization affects people in those countries.|||The IMF.... among other things.. but also over-lending. Maybe a bit like what we have now.
(But if you are after some dodgy conspiracy theory reasons... apparently George Soros was the reason...)
http://en.wikipedia.org/wiki/Asian_finan鈥?/a>new cd releases florida drivers license
IMF affected almost all developing and 3rd-world countries, including African countries and Asian countries.
Go watching "Life%26amp;Debt" documentary and you'll understand better how IMF and globalization affects people in those countries.|||The IMF.... among other things.. but also over-lending. Maybe a bit like what we have now.
(But if you are after some dodgy conspiracy theory reasons... apparently George Soros was the reason...)
http://en.wikipedia.org/wiki/Asian_finan鈥?/a>
Can you remember a time when the UK has NOT been in the middle of a political or usually financial crisis?
I know I'm showing my age but I do remember such a time.
Back in the 50s we had a strong, socialist Labour government which had just set up the NHS (no more crippling doctor's bills) and wartime food rationing had finally come to an end. The Utilities, such as water, gas, electricity and rail transport were all owned by the nation which, without greedy shareholders to pay, made them really affordable. There were more jobs than people, so you could choose what you did and education was free all the way from Infant's School to University!
However, there was one drawback, in the form of National Service. When any boy reached the age of 17 he was conscripted into one of the armed services, usually the Army, for 18 months.|||It would be easier to ask if we could remember a time when we were. We are not in a polital or financial crises and have not been for a long long time. What we have today is petty bickering and bad accounting. Greece had a finacial crisis and remember the wheelbarrows full of banknotes is south america just to buy a loaf of bread? thats a crisis and also zimbabwe recently. As for a ploitical crises then we do not have that at all. When there are tanks on the street like in the middle east or when one party start bombing the HQ of another like in Moscow then its a crisis.|||Yes. That would be yesterday; or two hours ago; or right now. I can remember those good days.|||When we were occupied by the Roman Empire.|||Wasn't there a quick gap between Kosovo and the War on Terror when the economy was booming?|||Not in my life time :L but I'm still only young, but its long enough to know that were constantly stuck in one haha
Back in the 50s we had a strong, socialist Labour government which had just set up the NHS (no more crippling doctor's bills) and wartime food rationing had finally come to an end. The Utilities, such as water, gas, electricity and rail transport were all owned by the nation which, without greedy shareholders to pay, made them really affordable. There were more jobs than people, so you could choose what you did and education was free all the way from Infant's School to University!
However, there was one drawback, in the form of National Service. When any boy reached the age of 17 he was conscripted into one of the armed services, usually the Army, for 18 months.|||It would be easier to ask if we could remember a time when we were. We are not in a polital or financial crises and have not been for a long long time. What we have today is petty bickering and bad accounting. Greece had a finacial crisis and remember the wheelbarrows full of banknotes is south america just to buy a loaf of bread? thats a crisis and also zimbabwe recently. As for a ploitical crises then we do not have that at all. When there are tanks on the street like in the middle east or when one party start bombing the HQ of another like in Moscow then its a crisis.|||Yes. That would be yesterday; or two hours ago; or right now. I can remember those good days.|||When we were occupied by the Roman Empire.|||Wasn't there a quick gap between Kosovo and the War on Terror when the economy was booming?|||Not in my life time :L but I'm still only young, but its long enough to know that were constantly stuck in one haha
Which countries are least affected by the current financial crisis?
North Korea. Zimbabwe.
Both of their economies are so screwed up they couldn't be affected by anything.|||Im from australia and we keep being told the we are weathering the storm really well compared to other countries.|||Third world countries They had no money to begin with.
Both of their economies are so screwed up they couldn't be affected by anything.|||Im from australia and we keep being told the we are weathering the storm really well compared to other countries.|||Third world countries They had no money to begin with.
When is Gordon Brown going to blame foreign influences for the financial crisis of UK?
Huh? He's done nothing but blame foreign influences. If he and his government hadn't been such fans of light-touch regulation and hadn't let the greedy City gamble so recklessly with everyone else's money the UK financial crisis wouldn't be as bad|||Is America considered a "foreign influence"?
If so, then it is certainly a baleful one and I wish the British would not gorge themselves silly with all that the US excretes.
I would suggest that irresponsible lending and borrowing AKA usury, reckless stupidity, stubborn ignorance and sweeping unpalatable truths under the carpet, is responsible for this state of affairs.|||yeah i agree gordon brown couldn't do a thing the global economy was sinking ship after the usa screwed up he jut happened to be on ship. nothing he could do about it. britans are way to harsh on him.
and people allways blame immigrants in any financial crisis..|||Wall Street, Investments, Banks. Look no further.
If you want to blame Brown, it was only his lack of insight toward our financial institutions. His belief they could regulate themselves. His trust in the system.|||Take a look out the window, buddy
ALL countries are in trouble. If you want to moan and blame the immigrants for everything (including the weather), then go ahead.|||He already has by saying it's a world crisis, forgetting that he contributed to ours with his recklessness. The man will never admit he could be wrong, and if he does it's 99% someone else's fault.|||hes always blamed america for it. while conveniently forgetting he created most of the mess himself with his disastous policies. his free for all banking and his boom and bust ideas.|||it's not foreign countires fault %26amp; the BNP are disgusting horrible people who are just as bad as the Nazi's
we did this to ourselves|||When people start believing the BNP will do good for this country..and stop sending money in foreign aid when it's needed here.
If so, then it is certainly a baleful one and I wish the British would not gorge themselves silly with all that the US excretes.
I would suggest that irresponsible lending and borrowing AKA usury, reckless stupidity, stubborn ignorance and sweeping unpalatable truths under the carpet, is responsible for this state of affairs.|||yeah i agree gordon brown couldn't do a thing the global economy was sinking ship after the usa screwed up he jut happened to be on ship. nothing he could do about it. britans are way to harsh on him.
and people allways blame immigrants in any financial crisis..|||Wall Street, Investments, Banks. Look no further.
If you want to blame Brown, it was only his lack of insight toward our financial institutions. His belief they could regulate themselves. His trust in the system.|||Take a look out the window, buddy
ALL countries are in trouble. If you want to moan and blame the immigrants for everything (including the weather), then go ahead.|||He already has by saying it's a world crisis, forgetting that he contributed to ours with his recklessness. The man will never admit he could be wrong, and if he does it's 99% someone else's fault.|||hes always blamed america for it. while conveniently forgetting he created most of the mess himself with his disastous policies. his free for all banking and his boom and bust ideas.|||it's not foreign countires fault %26amp; the BNP are disgusting horrible people who are just as bad as the Nazi's
we did this to ourselves|||When people start believing the BNP will do good for this country..and stop sending money in foreign aid when it's needed here.
Definition of financial crisis?
I found that a financial crisis refers to situations in which some financial institutions or assets suddenly lose a large part of their value.
Can anyone enlighten me on whether it is correct or not?|||Tough question.
Separate the recession from the financial crisis and you will be on the right track. The existence of both will exasperate the other ,however a recession need not cause a financial crisis nor does a financial crisis necessarily cause a recession. My answer to your first question is that we have had instances of financial crisis in America where asets lose value and cause banks to backfill (securities related to oil caused many a bank failure in the early 1980's and the insolvency of money center banks at that time). I heard a good explanation the other day, The tech bubble was a bubble but the current financial crisis is a sinkhole caused by asset values decreasing. In that vein you need to think of assets including mortgages that became illiquid (not because the real estate went down in value) and lost value. The mortage holder may still be paying but fear in the market caused the mortage securities to become illiquid and if you cannot sell something in the financial markets in a few moments it is illiquid.
My answer to your second question slow growth and unemployment is part of the recession and the recession is being exasperated by the financial crisis and at the same time the financial crisis is exasperated by the existence of a recession. As the financial crisis abates we will still be left with the recession (slow growth and higher unemployment), but the remedy of the recession will be less hindered by the existence of the financial crisis.
I tried to be simplistic because you can write a book about this subject and this is my opinion and there may be many that diverge from my opinion (they would be wrong however).
Can anyone enlighten me on whether it is correct or not?|||Tough question.
Separate the recession from the financial crisis and you will be on the right track. The existence of both will exasperate the other ,however a recession need not cause a financial crisis nor does a financial crisis necessarily cause a recession. My answer to your first question is that we have had instances of financial crisis in America where asets lose value and cause banks to backfill (securities related to oil caused many a bank failure in the early 1980's and the insolvency of money center banks at that time). I heard a good explanation the other day, The tech bubble was a bubble but the current financial crisis is a sinkhole caused by asset values decreasing. In that vein you need to think of assets including mortgages that became illiquid (not because the real estate went down in value) and lost value. The mortage holder may still be paying but fear in the market caused the mortage securities to become illiquid and if you cannot sell something in the financial markets in a few moments it is illiquid.
My answer to your second question slow growth and unemployment is part of the recession and the recession is being exasperated by the financial crisis and at the same time the financial crisis is exasperated by the existence of a recession. As the financial crisis abates we will still be left with the recession (slow growth and higher unemployment), but the remedy of the recession will be less hindered by the existence of the financial crisis.
I tried to be simplistic because you can write a book about this subject and this is my opinion and there may be many that diverge from my opinion (they would be wrong however).
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