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Double Trigger
27 Oct 11 17:05
Joined:
Date Joined: 02 Nov 02
| Topic/replies: 53 | Blogger: Double Trigger's blog
I'm just a businessman with a decent amount of cash available, do I pull it out of banks and literally hide it under the rug?  No one in the usual media sources seem to be telling us anything in case they rock the boat.  I'm worried about the financial situation and some of you guys on here know more than most.  I don't own shares or gold or anything apart from the house I live in but I don't want to be queuing in a bank unable to get access to my funds!
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Report madasahatter October 27, 2011 5:25 PM BST
...... well Greece already has - the world hasn't ended!

There was a guy on Bloomberg this week who made a statement that 50% of Sovereign Nations had 'defaulted' in the last 30 years - if that be true it all seems to have passed me by.
Report no moves October 27, 2011 6:36 PM BST
I think America is $13 trillion dollars in debt, Japan is trillions in debt, Spain, Portugal and Ireland are teetering on the edge of finacial ruin, France hasn't had a yearly balanced budget since 1974. The United Kingdom is £2.2 trillion in debt, if you include the money used to bail out the banks.  Most of the above countries are still spending hundreds of billions more each year than they take from tax revenues.

Forget the fancy explanations from the  economists, double trigger, doesn't common sense tell you that western society is in trouble, this could be like the last days of the Roman empire. How long can these countries survive on producing almost nothing and just using borrowing to furnish their lavish lifestyle? Isn't it enivitable the sh1t will hit the fan at some point.
Report Menelaus October 27, 2011 7:12 PM BST
The sh1t has already hit the fan, it's just that most people haven't clued in yet. It's mathematically impossible to have the necessary exponential growth to cover compounded interest. Simple really.

As for the other poster who said "the world hasn't ended", I'd wait a while if I were you. Despite what the ISDA says let's just wait and see how many buyers of CDS protection serve a notice of credit event to their counterparties, and how many lawsuits will be filed. You may end up finding out that "voluntary" in court may have a different meaning than what we're been told so far. Patience.
Report FINE AS FROG HAIR October 28, 2011 12:48 AM BST
It will be in the interests of all major players to come to resolutions that do not result in the whole system falling apart.
The old rigid gold standard system is gone for ever. That is one thing for sure.
Report bobby2424 November 6, 2011 12:17 AM GMT

Oct 28, 2011 -- 12:48AM, FINE AS FROG HAIR wrote:


It will be in the interests of all major players to come to resolutions that do not result in the whole system falling apart.The old rigid gold standard system is gone for ever. That is one thing for sure.


Why do you say the old rigid gold standard system has gone forever?

Report Mrben November 6, 2011 5:17 AM GMT
if default occurs a lot of people will be eating the chocolates they stored as a hedge against hyperinflation.I guess.WinkCrazyScaredHappyBlush
Report Randle November 6, 2011 2:05 PM GMT
lets hope they remember to stock up on tooth paste, all that chocolate will shot their teeth away!
Report Randle November 6, 2011 2:05 PM GMT
rot
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