Gerald Celente, The Media’s Silence On The Economic Collapse, 9.6.2011 (The Wild Card Of Distraction)

Gerald Celente, The Media’s Silence On The Economic Collapse, 9.6.2011 (The Wild Card Of Distraction)

Gerald Celente appearing on the Alex Jones radio program today pointing out how the drive-by media hypes all the natural disasters but not a peep about the economy’s controlled collapse.  Gerald points out the collapsing european and asian markets, the european debt crisis, the quiet and disastrous linkage of the Swiss franc to the Euro last night, but that the media is still telling everybody that the entire situation is under control, the money-guys will figure something out, and that this is a buying opportunity in the markets.

What is it going to take folks?

Solyndra, the green solar company that Obama gave $535 million to just filed for bankruptcy with taxpayers left holding the bag again, Dell is moving operations to India (from China; but not here), Ford is opening a plant and creating 5,000 jobs in India, GE is creating thousands in of jobs in China, the DOW lost 4.4% last month and has already lost 4.1% this month…  The collapse is staring you in the face, and Barack Obama is going to shuffle out on Thursday and try to calm the corporate owned moos with another bullshit ‘jobs plan’ and QE3 disguised as yet another wasted stimulus plan (right after the Republicans have a debate that attempts to do the very same thing).

Denial is no longer an option.  Wake up America; buy food, water, ammo, and silver. (more…)

Why Yes, I Am Paying Attention…

Why Yes, I Am Paying Attention…

Yes, yes, yes….I AM paying attention but am busy working on the rabbit hole story.  For those sending emails with links…keep them coming, and for those that need to know about something other than the Obama/Boehner golf game, Bachmann and glitter, and Jon Stewart – hit the links below: (more…)

CHINA TO OWN WORLD!!!

We never thought we would see the day in our lifetimes when the COMMUNISTS would end up OWNING everything, but thanks to Wal-Mart and stupid American moos sending all our money overseas, it’s going to be an interesting Xmas this year as China has the cash and attitude to buy Europe.

Fresh humiliation for eurozone as China says it will bail out debt-ridden nations

China has said it is willing to bail out debt-ridden countries in the euro zone using its $2.7trillion overseas investment fund.

In a fresh humiliation for Europe, Foreign Ministry spokesman Jiang Yu said it was one of the most important areas for China’s foreign exchange investments.

The country has already approached struggling European countries with financial aid, including offering to buy Greece’s debt in October and promising to buy $4billion of Portuguese government debt.

‘To have any discernible effect China will have to buy a lot more than 5billion euros if they expect to have any impact on the negative sentiment surrounding Europe,’ said Michael Hewson, currency analyst at CMC Markets.

China’s astonishing economic growth has put it on track to overtake America as the world’s economic powerhouse within two years, a recent report claimed.

But experts believed still be some years before America’s leadership role is really challenged – largely because Beijing has given no indication it is ready to take on the responsibility of shepherding the world’ economy.

And now, RedLemur’s musical take on the situation…(my apologies for not being able to rip the audio from the video).

(If we don’t laugh, our heads are going to explode.)

Gerald Celente Predicts The End of the Euro

This is more than a domino effect in Europe. This is a global economic crisis, and nothing has changed since the crisis began in 2007, other than the central banks dumping trillions of dollars in trying to save a failed system.

We Are Sliding Into The Abyss

No joke kids.

EU Preps $645 Billion Fund to Fight ‘Wolfpack,’ Debt Crisis

May 10 (Bloomberg) — European Union finance ministers moved toward agreement on an unprecedented loan package worth at least $645 billion to prevent Greece’s fiscal woes from triggering a broader sovereign-debt crisis and shattering confidence in the euro.

Jolted into action by last week’s slide in the currency to a 14-month low and soaring bond yields in Portugal and Spain, the 16 euro governments sketched out plans to make 440 billion euros ($570 billion) available, with 60 billion euros more from the EU’s budget, according to three officials at the talks in Brussels. An additional, unspecified sum may come from the International Monetary Fund, the officials said.

“We are going to defend the euro,” Spanish Economy Minister Elena Salgado told reporters as she arrived to chair the meeting yesterday. “We think we have a duty for more stability for our currency. We will do whatever is necessary.”

EU and IMF agree €720bn boost for rescue plan

The European Union and the International Monetary Fund early Monday morning agreed an emergency funding facility worth as much as €720bn (£625bn) in loan guarantees and credits to stabilise the eurozone before financial markets opened.

As part of a massive EU plan to shock the markets into believing eurozone finances were sound, the European Central Bank was also set to play a big role by buying eurozone government debt.

Fed/ECB/BoE/SNB Re-Establish Temporary Dlr Liq’ty Swaps

WASHINGTON (MNI) – The following statement was issued by the Federal Reserve, the European Central Bank, the Bank of England and the Swiss National Bank:

In response to the re-emergence of strains in U.S. dollar short-term funding markets in Europe, the Bank of Canada, the Bank of England, the European Central Bank, the Federal Reserve, and the Swiss National Bank are announcing the re-establishment of temporary U.S. dollar liquidity swap facilities. These facilities are designed to help improve liquidity conditions in U.S. dollar funding markets and to prevent the spread of strains to other markets and financial centers. The Bank of Japan will be considering similar measures soon. Central banks will continue to work together closely as needed to address pressures in funding markets.

Federal Reserve Actions

The Federal Open Market Committee has authorized temporary reciprocal currency arrangements (swap lines) with the Bank of Canada, the Bank of England, the European Central Bank (ECB), and the Swiss National Bank. The arrangements with the Bank of England, the ECB, and the Swiss National Bank will provide these central banks with the capacity to conduct tenders of U.S. dollars in their local markets at fixed rates for full allotment, similar to arrangements that had been in place previously. The arrangement with the Bank of Canada would support drawings of up to $30 billion, as was the case previously.

These swap arrangements have been authorized through January 2011.
Further details on these arrangements will be available shortly.

EU Finance Ministers Try To Save The Euro

Buckle up kids, the next few weeks are going to be very interesting.

EU Preps Euro Fund to Fight ‘Wolfpack,’ Debt Crisis (Update2)

May 9 (Bloomberg) — European Union finance ministers pledged to stop a sovereign debt crisis from shattering confidence in the euro as they held an emergency summit to hammer out a lending mechanism for deficit-stricken nations.

Jolted into action by last week’s slide in the currency to a 14-month low and soaring bond yields in Portugal and Spain, leaders of the 16 euro nations agreed on the backstop yesterday and told ministers to get it ready before Asian markets open.

“We are going to defend the euro,” Spanish Economy Minister Elena Salgado told reporters as she arrived to chair today’s Brussels meeting. “We think we have a duty for more stability for our currency. We will do whatever is necessary.”

Europe’s failure to contain Greece’s fiscal crisis triggered a 4.3 percent drop in the euro last week, the biggest weekly decline since the aftermath of Lehman Brothers Holdings Inc.’s collapse. It prompted the U.S. and Asia to urge broader steps to prevent a debt crisis from pitching the world back into a recession.

President Barack Obama spoke by phone with German Chancellor Angela Merkel for the second time in three days, adding to the international pressure Europe has faced since a hurriedly arranged conference call of Group of Seven finance chiefs on May 7. Obama today emphasized “the importance of the members of the European Union taking resolute steps to build confidence in the markets,” White House spokesman Bill Burton told reporters in Hampton, Virginia.

‘Wolfpack Behavior’

“In the night, when the markets are opening, we cannot afford a disappointment,” said Finance Minister Anders Borg of Sweden, one of 11 EU nations not in the euro. “We now see herd behavior in the markets that are really pack behavior, wolfpack behavior.”

European officials declined to disclose the size of the stabilization fund, to be made up of money borrowed by the EU’s central authorities with guarantees by national governments. The meeting started just after 3 p.m. A German official said it will be a “long night.”

Germany, the bloc’s largest economy, will be represented by Interior Minister Thomas de Maiziere after wheelchair- bound Finance Minister Wolfgang Schaeuble, 67, was rushed to a Brussels hospital due to an adverse reaction to new medication.

Head over to Bloomberg to read the rest.

Société Générale: Euro Headed For Collapse

What a headline to wake up to.  When one of the oldest banks in the world, and one that we as taxpayers helped bailout using AIG funds makes these types of statements, you better listen up.

Collapse of the euro is ‘inevitable’: Bailing out the Greek economy futile, says FRENCH banking chief

The European single currency is facing an ‘inevitable break-up’ a leading French bank claimed yesterday.

Strategists at Paris-based Société Générale said that any bailout of the stricken Greek economy would only provide ‘sticking plasters’ to cover the deep- seated flaws in the eurozone bloc.

The stark warning came as the euro slipped further on the currency markets and dire growth figures raised the prospect of a ‘double-dip’ recession in the embattled zone.

Claims that the euro could be headed for total collapse are particularly striking when they come from one of the oldest and largest banks in France – a core founder-member.

In a note to investors, SocGen strategist Albert Edwards said: ‘My own view is that there is little “help” that can be offered by the other eurozone nations other than temporary, confidence-giving “sticking plasters” before the ultimate denouement: the break-up of the eurozone.’

In a note to investors, SocGen strategist Albert Edwards said: ‘My own view is that there is little “help” that can be offered by the other eurozone nations other than temporary, confidence-giving “sticking plasters” before the ultimate denouement: the break-up of the eurozone.’

He added: ‘Any “help” given to Greece merely delays the inevitable break-up of the eurozone.’

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