Wednesday, September 26, 2012

This is the "other side". This is the side that you are subconsciously trying to convince yourself that you won't see here because we are "special". That our debt can be paid for by magic money. By digital magicians from afar without anything in return....or as Andy Williams once said..." We're after that same rainbow's end, waitin' 'round the Bend".....and we are waitin' folks but you're not gonna like that "Bend".....Here is a sample for all of us to see....


Giorgos Loukas, a former electrician, said austerity measures had reduced his monthly pension from €1,100 (£875) to €750 (£600) . "We're being stripped of everything we have," the 66-year old said. Both his wife and daughter are unemployed, and all three survive on his income. "Where is European solidarity? We're being insulted as a nation but I will never beg at soup-kitchens for food – my dignity is all I have left."
Greece has been told to implement a succession of spending cuts and structural reforms in an effort to bring down its massive debt in exchange a bailout of nearly €200bn (£160bn). But many experts warn that the measures are only making the recession deeper. One in two youths is out of a job while thousands of educated and skilled professionals are fleeing the country in search of opportunities abroad.
"I feel my country is on auction and we're just an economic experiment," said Dimitris Palles, 49, a physics researcher at the National Hellenic Research Foundation. Mr Palles, 49, who's seen his annual salary drop from €24,000 (£19,000) to €19,500 (£15,500). "No level of political mismanagement can justify the pain we're being asked to endure," he says.
Greece's international creditors were also reported to be loggerheads yesterday over how to solve Athens' debt crisis, as the International Monetary Fund (IMF) demanded that European governments write off some of the Greek debt they hold. According to Reuters, tensions between Greece and the "troika" of European Union, European Central Bank and IMF have escalated as the IMF pushes to restructure Greek debts to public-sector foreign creditors, whereas EU leaders would rather give Athens more time to meet the demands of its bailout.
Public healthcare is one of the sectors that has been gravely affected by the crisis in Greece. Chemists and pharmaceutical companies have stopped giving drugs on credit to medical insurers saying they haven't been paid in months by the state.
Meanwhile, Greece's power company cut the electricity at a kidney hospital on the island of Aegina for several hours on Tuesday while the patients were undergoing blood dialysis, forcing the centre to rely on its generator. from the UK Independent

Any wonder of course that Greece and Spain are in chaos with unemployed youth over 50%.....and the unfunded liabilities taking front and center now. They had better get ready and move quickly (and they will).....to crackdown and at the same time throw some fiat onto this fire...(and they will).....This is all being studied so just sit back and do the same. Monetization is ramping and be prepared. Austerity is a bitch and the peeps are not going to take any of it without a fight. They may have to stop watching football and stuffing bon bons in their face but they will fight.....of course until they are crushed like bugs.

Miners looking better and better...letum have their fun.



22 comments:

  1. The lead radio news story on my way to work this morning was: "The Crisis in the NFL is over". I thought to was comical that they used the word "crisis". Nothing about Greece or Spain was mentioned.

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  2. My wife didn't know what was going on in Spain until I told her yesterday.

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  3. Heheee, My wife doesn't want to know any more, so she quit asking!


    Here's some reading regarding the state of the State Pension Fund's


    http://www.statebudgetsolutions.org/doclib/20120716_PensionFinancingUpdate.pdf


    The "rain" in Spain is in our long term forecast.......


    on a brighter note I'm glad the whole "NFL Crisis" is over I was getting worried, it's very important to have Experienced, Educated, Unbiased Referee's apply the rules and regulations fairly and equally to all that play the game!

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  4. The REAL NFL referees do a much better job. When they want to sway a game they make coordinated bad calls..But they are union so it is OK!

    Just like central bankers all making coordinated bad calls.

    Ha! just call me cynical.

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  5. The end game is the loss of the dollar's reserve currency status....I will put this in the comments only......this is the end game....right now here is the problem for Eurozone.....WE can print dollars but the EU cannot. therefore our country is doing relatively better while the EU PIIGS are suffering austerity (as we should) while they try to delever. Eventually the "suffering" countries relative to ours will exit the dollar reserve currency status. This is the end game......when we cannot print to buy our necessities then the SHTF scenario will be set in place....gl

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  6. I agree Kli. Until SHTF the Irony could be that we print, print, print and the USD gains ground on the EURO. The EURO is toast...Insolvent already, thus, the scramble to hoard the USD. This occurs just as the US needs a weak dollar. Interesting to think the FED may counterfit trillions and the value of the USD increases....

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    1. if you think WE resent what we are doing then you aint seen nothin yet .....the rest of the world does hate us......not for "our values"..but for our LACK OF FOCHIN VALUES.....

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    2. we are printing ourselves a free ticket (for now) and they get a ticket to hell

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  7. Spain is going to tap Social Security fund...

    that will sit well with the peeps over there

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  8. lol...a direct tranfer from the peeps to the banksters...Madrid burns tonight...

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    1. Coworker just got back from vacation in Spain. First thing immediately stolen off the plane was the iphone, help set up a remote wipe, rest of the 10 day cultural experience seemed pretty miserable. But people don't believe it until they see up close themselves, great cultural experience and it was 10 days without American football for this person, a Win-Win opportunity!

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    2. had a coworke that I mentioned a week ago that lived in Spain for a year in 2009.....he said it was getting very dangerous for his family in the city he was in then....

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  9. thinking of selling all positions and just buying silver....even if positions is loser and holding for reversal...what ya think?

    trading account only...

    this market just took all my gains in 3 months on a couple trades....trying to short or play vix has just killed me...almost better to be clueless about news and trade dow components...

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  10. Just to comment, if NKTR closes green today, it will be the 12th green candle in a row. It is way overbought on the RSI, but still climbing. There was always talk of it getting bought out, so I wonder if something is brewing.

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  11. Chuck, you trade well...You know what to do. I think the market top is in for a while. I think in very early stage of a large down leg.

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    1. actually I don't know what to do because it looks to me their is no fear in market and it looks like it just wants to move higher, no matter the little shake outs....programmed to go higher....

      plus I have silver going to 81 and need to put more into that sector....

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    2. Silver to $81?

      Over what timeframe?

      Thanks.

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    3. SIK,

      2014 maybe before, were moving into public purchase phase and manic phase will be right behind...will sell most around 80-1 keep a little for additional blow off top, and then get read for ride down..dow could see 10K again most likely lower and spx will revisit 700.. will play canadian TSX market on commodities burst...return will be significant...

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  12. Hmm. You guys always make me think...just realize that $2 Trillion has been added to the printing bonanza...I have to remind myself that the market is not the economy. http://www.newyorkfed.org/markets/tot_operation_schedule.html These numbers are really staggering.

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  13. hey all..

    Catherine Austin Fitts has a new post
    QE3 – Pay Attention If You Are in the Real Estate Market

    it is posted on a few sites..

    the white page is posted on the web
    the green side is from her site...

    http://solari.com/articles/quantitative_easing/

    so kli, if this is the end game...is the fed trying to park all dollars from over seas to homes?

    (snip)
    Finally, the way the Fed has engineered the Slow Burn to date is to continually offset monetary inflation with labor deflation.

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  14. That's brilliant paladin, hadn't seen it articulated that way so they can claim there's no inflation! Maybe great call by Ben Davies who said low for spot would be 1735-1740, in fact it was 1736.80 on Wed.

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