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Brokedownclimber
Trad climber
Douglas, WY
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I read the entire article posted by rockermike. I can't say I disagree with any of it; most modern day politicians are little but bagmen for the Banksters. Bottom line here: Greece is fukked. Next to go are Spain, Portugal, Ireland, and probably Italy. The IMF and ECB wield entirely too much political power, and forget about being "compassionate." International Banksters are avaricious, vindictive, and inherently evil. In the long term, the Eurozone, and hence the Euro, is doomed. Not this year or even next, but I would be very surprised for it to make it to a 25 year anniversary....
If the Banksters were not so dammed clever and able to use national armies to do their bidding, they would require private armies to protect themselves from the traditional "peasants with pitchforks."
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Flip Flop
climber
Earth Planet, Universe
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Selling pitchforks. Get them now. Free sharpening.
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John Duffield
Mountain climber
New York
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Irelands trend line, is going in the right direction finally and it appears they have the spine to do what it takes. I wouldn't write them off just yet. Italy, oth, has no cash and migrants are swarming.
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Brokedownclimber
Trad climber
Douglas, WY
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John-
From what I saw in Northern Italy the past two years, the still smoldering separatist movement in South Tirol could be given a boost by the economic conditions. The region is still using German as the principal language, since it's taught in the schools alongside the mandatory Italian. Ladin is still used as a traditional regional language.
Pitchforks for sale? You bettcha!
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Jan
Mountain climber
Colorado, Nepal & Okinawa
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Pitchforks to the front. Finally we found something that liberals and conservatives agree on!
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Brokedownclimber
Trad climber
Douglas, WY
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Latest news on my computer updates:
GREEK BANKS REMAIN CLOSED.
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EdwardT
Trad climber
Retired
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Technical glitch - We have no f*cking idea what's wrong...
But is probably due to over-design in a program intended to prevent this kind of problem.
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Brokedownclimber
Trad climber
Douglas, WY
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EdwardT-
RU referring to the shutdown in trading at the NYSE, and that United Airlines is unable to process ticket applications?
That came up as an "update" too.
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John Duffield
Mountain climber
New York
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Resetting all passwords and cascading everything to new accounts. gets easier with practice.
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Brokedownclimber
Trad climber
Douglas, WY
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Apparently the Shanghai and Peking stock exchanges were down significantly today. I believe something around 8%?
Also there's some evidence the NYSE was hacked as well as UAL. Possible Cyberterrorism.
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Reilly
Mountain climber
The Other Monrovia- CA
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They claim it was a software update gone south. We can all relate to that, eh?
China has been due for a dope slap, er, I mean a market correction. This
one, like most, will shake out the weak-willed and under-capitalized; NBD.
As I said the other day China has the political will and the wherewithal to
deal with this. Brasil doesn't and they are approaching the brink of the
financial Iguazu Falls. The SuperTopo Robespierre Chowder and Marching
Society blame all this on greedy bankers while fiddling along to the tune
"I'm A Dopey Pseudo-Socialist Demagogue" being sung around the world.
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Brokedownclimber
Trad climber
Douglas, WY
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Reilly-
Yeah, the Chinese markets were due for a big correction. As is our very own NYSE, which is wildly overvalued. More of a Bitch slap than a Dope slap, however...
Re: Greece; I don't think the ECB is going to cut them any slack. Greece is in for some tough sledding. If I can find it, there's an excellent Paul Craig Roberts article re: Greece. If I can find it this evening, I'll post the link.
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John Duffield
Mountain climber
New York
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But interest rates on 10 year T-Bills went up. The Federal Government, if it continues, will be like a junkie with a massive jones.
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Jan
Mountain climber
Colorado, Nepal & Okinawa
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I keep telling you guys, we're the safe haven, scary as that may be.
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Brokedownclimber
Trad climber
Douglas, WY
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As long as the Central Banks keep playing this game of chicken, we're all at risk.
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jstan
climber
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Topic Author's Reply - Jul 8, 2015 - 07:24pm PT
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If Germany were to pull out all the stops to keep Greece in the EURO, the other countries in trouble would assume they had no problem. Greece's latest failure to provide a specific proposal says their NO vote is their answer. The problems in the EURO will rattle on down for probably another year. During that time, barring complications, US debt should hold its own. A friend has been selling US debt short for more than a year; not pretty. I am long since 2008 and am watching to see when the long position peaks. Thanks to a little day trading I am getting a YTM of 2.7%, over inflation which is running at about 2.2% and can hold to maturity. Pretty good for AAA I think.
You guys have persuaded me gold is worth watching but those long trends in value suggest only money not needed should be put in gold. If the velocity of money rises from its present moribund state Krugman feels inflation will require more hedging. Me? I am just a dirt bagger.
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Brokedownclimber
Trad climber
Douglas, WY
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The only way to buy gold is take physical possession of the metal. Perhaps a better play at this juncture is in silver, since it's currently trading at a 5 year low. If silver were trading at it's historical ratio of 1/15th the price of gold, it would be trading at $76 per ounce.
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Ken M
Mountain climber
Los Angeles, Ca
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It seems, at least to a degree, that the Greek situation has been exacerbated by the Conservative approach to things.
they are running a huge unemployment rate, and it seems to me that as long as that is true, it is going to be hard to recover.
But one of the approaches being pushed by the Germans, is to hit the pensions and the pensioners. While I agree that a retirement age of 61 is ridiculous under the circumstances, if they force pensioners back into the workforce, the unemployment rate will go UP.
Wages are low, but people have to make a living somehow, so this would seem to feed into corruption, black market, and organized crime.
Not so easy, I think.
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