Tradefair & Financials
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Radio 4 this morning in its financial slot admits that it cannot pick the biggest or most important crisis, each one seems worse that the other. So they gave up.
They did not know if it was;
Greece
Ireland, Spain and portugals ring fence,
Italy being too big to ring fence,
The Whole Eurozone,
Sovereign debt,
Or what ever else.
No worries; we will just whistle up trillions of dollars from nowhere. Easy China and anyone else minding the worlds dollars for it will not mind their wealth being slashed and effectively saving the fat rich Europeans on the backs of there dirt poor populations.
They did not know if it was;
Greece
Ireland, Spain and portugals ring fence,
Italy being too big to ring fence,
The Whole Eurozone,
Sovereign debt,
Or what ever else.
No worries; we will just whistle up trillions of dollars from nowhere. Easy China and anyone else minding the worlds dollars for it will not mind their wealth being slashed and effectively saving the fat rich Europeans on the backs of there dirt poor populations.
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There's only ONE cause of the crisis. Current debt levels in the system can not be paid back with existing levels of growth. Debts that can not be repaid need to be defaulted on and clear the system. This will destroy the banks and cause serious pain for EVERYONE. Our (in)glorious leaders have decided that kicking the can down the road through various schemes (money printing/changing accounting rules/relaxing leverage requirements), and hope for a growth miracle (China/BRICS), is a better way to go. This only exacerbates the problem when the inevitable collapse comes. Simple really.
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