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Thread: "Full Fledged Panic" - World Economic Crisis Moving to a New Stage - Global Capitalism Running Out of Road

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    Default "Full Fledged Panic" - World Economic Crisis Moving to a New Stage - Global Capitalism Running Out of Road

    The Eurozone crisis is unstoppable, with Italy, Spain and Cyprus all falling towards the unready arms of the IMF/EU this week.

    The US is attempting to dig itself out, by making nearly 2 trillion in cuts (with unemployment already at 10%).

    The price of gold breaking records day on day, as people look for a safe refuge for funds. Euros are being sold and dollars bought, as the dollar is seen as the best of a bad lot.

    Ireland's government is insisting on pouring the last of our NTMA funds into bankrupt banks, to ready them for fire sale.
    Funds are still draining out of Irish banks.

    Apart from one man, a poster here, DO'F, who is on a bread and water fast to try to raise awareness, is anyone in Ireland grasping the seriousness of the situation ?



    • Italy back under intense focus; bank shares slide; emergency meetings scheduled (sound familiar?)
    • New record highs in CHF, Gold; Treasury yields tumble
    • S&P 500 ends 2.6% lower; now lower for 2011
    • US Senate passes debt-ceiling plan 76-24
    • US personal income rises 0.1%, spending falls 0.2%, first spending decline in nearly 2 years
    • Fitch: US debt deal commensurate with AAA rating
    • Italy blames Euro zone crisis, US for market pressures on Italian debt
    • US 10-yr note yield falls 14 bp to 2.615%
    • Gold ends at record $1656


    http://www.forexlive.com/blog/2011/0...rexLive.com%29
    Last edited by C. Flower; 09-02-2016 at 09:43 AM.

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    Default Re: "Full Fledged Panic" - World Economic Crisis Moving to a New Stage

    Don't forget the Swiss Franc. The only partially gold-backed currency in the world was almost on par with the Euro today. Great investment bet, huge blow for the Swiss export economy.
    Last edited by TotalMayhem; 02-08-2011 at 10:06 PM.
    Thus all which you call Sin, Destruction—in brief, Evil—that is my true element.

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    Default Re: "Full Fledged Panic" - World Economic Crisis Moving to a New Stage

    Quote Originally Posted by TotalMayhem View Post
    Don't forget the Swiss Franc. The only partially gold-backed currency in the world was almost on par with the Euro today.
    I've long thought that the Swiss are over-loaned - but why is the world not liking them today ?

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    Default Re: "Full Fledged Panic" - World Economic Crisis Moving to a New Stage

    Quote Originally Posted by C. Flower View Post
    but why is the world not liking them today ?
    What do you mean? When the Euro was introduced, 1 Euro bought you like CHF 1.62, now it's almost par (CHF 1.08). Investors like the Swiss very much, or shall we say, their currency.

    And it's even worse regarding the US Dollar, in 2001, 1 US Dollar bought you CHF 1.82, today it's only CHF 0.76.
    Last edited by TotalMayhem; 02-08-2011 at 10:19 PM.
    Thus all which you call Sin, Destruction—in brief, Evil—that is my true element.

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    Default Re: "Full Fledged Panic" - World Economic Crisis Moving to a New Stage

    Quote Originally Posted by TotalMayhem View Post
    What do you mean? When the Euro was introduced, 1 Euro bought you like CHF 1.62, now it's almost par (CHF 1.08). Investors like the Swiss very much, or shall we say, their currency.
    Beg your pardon: distracted. I don't think it's going to last forever.
    Switzerland doesn't operate in a different universe.

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    Default Re: "Full Fledged Panic" - World Economic Crisis Moving to a New Stage

    Quote Originally Posted by C. Flower View Post
    Switzerland doesn't operate in a different universe.
    As long as their currency is backed by gold (i.e intrinsic value) and not just the printing press, they certainly do operate in a different universe.
    Last edited by TotalMayhem; 02-08-2011 at 10:27 PM.
    Thus all which you call Sin, Destruction—in brief, Evil—that is my true element.

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    Default Re: "Full Fledged Panic" - World Economic Crisis Moving to a New Stage

    Quote Originally Posted by TotalMayhem View Post
    As long as their currency is backed by gold, i.e intrinsic value, they certainly do operate in a different universe.
    No one operates in a separate universe - as you say- they want to trade with people.

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    Default Re: "Full Fledged Panic" - World Economic Crisis Moving to a New Stage

    Quote Originally Posted by C. Flower View Post
    No one operates in a separate universe - as you say- they want to trade with people.
    And that is exactly their woe, Swiss exports have become too expensive for the rest of the world. And it's not just affecting the wristwatches, which have always been too expensive for the regular mortals anyway.
    Thus all which you call Sin, Destruction—in brief, Evil—that is my true element.

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    Default Re: "Full Fledged Panic" - World Economic Crisis Moving to a New Stage

    Quote Originally Posted by TotalMayhem View Post
    And that is exactly their woe, Swiss exports have become too expensive for the rest of the world. And it's not just affecting the wristwatches, which have always been too expensive for the regular mortals anyway.
    Italy appears to be close to default. Spain not far behind.

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    Default Re: "Full Fledged Panic" - World Economic Crisis Moving to a New Stage

    Quote Originally Posted by C. Flower View Post
    Italy appears to be close to default. Spain not far behind.
    Too bad...
    Thus all which you call Sin, Destruction—in brief, Evil—that is my true element.

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    Default

    Quote Originally Posted by TotalMayhem View Post
    Don't forget the Swiss Franc. The only partially gold-backed currency in the world was almost on par with the Euro today. Great investment bet, huge blow for the Swiss export economy.
    That depends. Many say swiss exports arent made to be cheap. Im thinking watches, luxury chocs etc

    Sent from my GT-I5500 using Tapatalk

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    Default Re: "Full Fledged Panic" - World Economic Crisis Moving to a New Stage

    While many may think of watches, cheese, chocolate and cuckoo clocks, that's not what makes the Swiss export industry tick. Think pharmaceutical, machinery and arms exports.
    Thus all which you call Sin, Destruction—in brief, Evil—that is my true element.

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    Default Re: "Full Fledged Panic" - World Economic Crisis Moving to a New Stage

    Cant wait, the whole lot has to go bang, only then will we see decent folk out working for our interests. Untill then they'll keep kicking the can down the road, how many corners have we turned now?

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    Default Re: "Full Fledged Panic" - World Economic Crisis Moving to a New Stage

    Quote Originally Posted by Fing Fers View Post
    Cant wait, the whole lot has to go bang, only then will we see decent folk out working for our interests.
    Your lips to God's ear.
    Thus all which you call Sin, Destruction—in brief, Evil—that is my true element.

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    Default Re: "Full Fledged Panic" - World Economic Crisis Moving to a New Stage

    Thanks for the contributions, but I feel the need to bury this thread and start again. The OP is not up to the requirements of the day.

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