European banks

[bacpacker]

I found this today while reading over some news articles. I'm not sure how accurate the article is, but it is certainly thought provoking.

/www.naturalnews.com/034270_debt_crisis_police_state_tyranny.html

After years of working diligently to raise the alarm on the precariousness of the global financial system, it has become clear to me that most people still do not grasp the reality of where our global financial system really stands. We are on the verge of a systemic financial implosion that could very nearly wipe out the currency holdings (bank accounts) of hundreds of millions of people, and with each passing day, that long-postponed day of financial reckoning inches ever closer.

"If the European summit could reach a deal on December 9, its next scheduled meeting, the eurozone will survive. If not, it risks a violent collapse," writes Wolfgang Munchau of the Financial Times (FT.com / Registration / Sign-up (http://www.ft.com/intl/cms/s/0/d9a299a8-17)...). Two years ago, such language would have been spat upon as "doom and gloom fear mongering." Today it is the mathematical reality across the European Union.

The Polish foreign minister said today that what Europe faces is "a crisis of apocalyptic proportions" (FT.com / Registration / Sign-up (http://www.ft.com/cms/s/0/d29da7fc-)...) and urged what is essentially more useless debt bailout tactics to try to delay mathematical reality a little while longer.

I now believe that when the dust settles after the coming debt implosion wreaks economic havoc across the globe, more than a few banksters and money-changers will find themselves indicted, imprisoned, or possibly just hanging from a tall tree at the end of a short rope. That's how angry the public is going to get when the full realization of the unprecedented theft and criminality of the global banking elite hits them, I fear.

Learn more: Financial red alert: Europe stands on verge of 'apocalyptic' debt crisis with only days remaining (http://www.naturalnews.com/034270_debt_crisis_police_state_tyranny.html#ixzz1 f9AchpSU)

I have read a little on Europe's financial issue's. They are in as bad shape as we are, other than Germany. Some even worse. I wasn't aware of how close they were to collapse. IMO if they go down, we are right behind them.
Keep your eyes open.

[RedJohn]

This is why I need to change my Euros and Dollars in gold.

[mollypup]

I read that article earlier along with many others saying basically the same thing. This is some super serious shyte and should be at the very top of our list of disasters to prepare for. I dread this, I really do. I sit here right now all safe and sound, but knowing this is going to happen is pretty close to driving me nuts. My neighbors - 99% chance most don't even have a clue. My husband is going to have a very scary wake-up call coming soon. I dread his reaction when he realizes it's happening. God help us all.

[Sniper-T]

This is why I change my shorts

[Sparrow]

Wow, sounds like it is really going to happen ... we're on our way ... and here I was all relaxed this last few months.

*Sparrow taps her head - get in gear girl .. lots to do!*

[bacpacker]

Looks like.....maybe. i wouldn't be surpised at another bailout either.

[Sparrow]

Sparrow thinks to herself: time to part with a few hundred and buy more dry beans ... :confused:

[ravensgrove]

The article gets a little out in left field for me as you progress farther down...I am sorry I do not beleive the government, particularly FEMA is planning to round people up into camps for the poor when people lose "all their money" in imploding banks....and then as the article stated "fire up the incinerators" and commit another Holocaust. I have friends who work for FEMA, nice people.

In fact, its is that sort of outlandish crazy ass accusations that makes no one take the threat seriously.

Paul Revere yelled "the British are coming" not...."Aliens have forced the British to come to our shores to rape our women and make us drink tea and eat stale crumpets and watch really dry comedy"...

I am sorry, is the finanical situation horrific: yes. Does that mean the government is secretly planning to round people up and commit a holocaust to have less mouths to feed....I highly doubt it.

[The Stig]

Ravensgrove...thank you, as always, for being a voice of reason.

Just as a tip, tinfoil discussions need to take place over at shtfnow.com where they are better suited and more appropriate. FEMA rounding up people for deathcamps is squarely in the tinfoil region, whether you agree with me or not.

Just wanted to remind everybody of that because I can see where this one could go. Let's stay focused on how a European banking crisis could lead to various SHTF situations here. More importantly, and keeping in theme with the focus of the website, how would you prepare for these various events?

[ravensgrove]

How about ya'll read this article...and also...I'd consider the source when reading articles....I'm a farmer..you don't get more green than me...But Natural News, is not my go to zone for world financial information:
BBC News - Central banks join forces to ease financial strains (http://www.bbc.co.uk/news/business-15966753)

[Sparrow]

How about ya'll read this article...and also...I'd consider the source when reading articles....I'm a farmer..you don't get more green than me...But Natural News, is not my go to zone for world financial information:
BBC News - Central banks join forces to ease financial strains (http://www.bbc.co.uk/news/business-15966753)

Thank you Raven, I hadn't read the whole article ...

Still time to buy more beans though! *insert chuckle here*

[ravensgrove]

One can never have too many beans...;)

[JustAPrepper]

Preface to say I did not read the link BP provided because...

I've been following the PIIGS (Portugal, Ireland, Italy, Greece, Spain) as an amatuer for well over a year. I knew this could be a huge event for us and have been watching the proverbial frog boil so to speak. Since I'm an amatuer I can't say I ever saw our Federal Reserve providing the bailout. I really thought the EU, with Germany leading the way, would get it under some kind of control.

Germany, with Merkel at the head, said NO to the bailout and stood her ground. Our fearless leaders caved, with the reasoning that "somebody had to do something" and now our printing presses are going in to overdrive once again and if I understand this correctly, this is NOT digitized money like TARP or other QE measures, but actual hard Dollars. Also, it should be mentioned these are NOT tax payer Dollars but that doesn't lessen the blow any. These are Dollars the Fed is printing willy-nilly to hand over to the EU. They are being bought and exchanged through the Central Banks at a reduced rate. They are getting our Dollars on the cheap and we are getting their (almost worthless) Euros in the exchange. And none of this money is being used to promote or grow any economies or industries. It's simply being printed and exchanged so one country can pay off it's debts to another with no meaninful reform taking place.

This is one piece of what could be, and probably will be, a double whammy for us.

The banks are still sitting on billions of "digitized" money that has not been released to the general consumer/borrower. If and when they do release the money that is what's known as Velocity. It will either trickle or flood in to the market. Regardless of how slow or fast this happens, inflation will ensue through higher interest rates. The Federal Reserve will need to "pull" those Dollars back in because there will be too many on the market...Worth-Less-Dollars.

With the Fed pumping actual hard Dollars overseas, the same is true and we WILL face inflation eventually. There is absolutely no way around it.

If the banks start releasing funds and creating their own Velocity at the same time the EU starts to crumble (and I believe it will because this is only a band-aid - not a solution to the problem) there will be trillions of dollars flooding the worldwide markets. Inflation could be like nothing we've ever seen before.

And here's another thing...since Oil and all basic Commodities are pegged to the Dollar, our gas, food and clothing prices are going to skyrocket. There's going to be too many Dollars out there. I heard today that next year we will paying the highest gas prices we've ever paid in the history of our country. $10 per gallon gas might not be too far off. I also heard today that all this could take place in the next 5-6 weeks.

Basically it's a world wide circle jerk and we are the ones who are really gonna get screwed without even being kissed first. Even if the EU pulls a miracle out of their hat, there's still gonna be too many Greenbacks floating around out there and we are going to pay a heavy price through inflation, or worse, to get those Dollars back to the Fed. This might be a really good time to review your preps and make some prioritized purchases. That's what I'll be doing this weekend.

Disclosure - I'm not an economist or even close to it. This is only my understanding of the situation and the prism through which I view this situation.

[Grumpy Old Man]

Justa you pretty much echo what my friend JohnGaltFla has been saying for the last 2 years. I agree with you 100%. This can't end well!

[bacpacker]

First off I apologize for posting the article. It wasn't meant to start a Tin Foil debate. I truly feel the situation in Europe could very well spill over to the states as well. However there are other sources saying basically the same thing, without the tin-foil.

From what reading I have been doing for the past several months and from all that I think Justa is dead on with her thinking. I sure didn't see the FED bailing out the Euro, certainly not this quick. Even before this most recent episode, with all the bailout money that has been put out there in the states, there will be a large inflation factor hitting us at some point. IMO that has already started showing up in food and fuel over the past year. While fuel is down some recently, it's still higher than last year. Food is up quite a lot more than that. Adding dollars in Europe will only compound the issue.

All that said this bailout will probably push the european collapse back by some time frame (several weeks/months). It may well accelerate ours.

[The Stig]

First off I apologize for posting the article. It wasn't meant to start a Tin Foil debate. I truly feel the situation in Europe could very well spill over to the states as well. However there are other sources saying basically the same thing, without the tin-foil.

From what reading I have been doing for the past several months and from all that I think Justa is dead on with her thinking. I sure didn't see the FED bailing out the Euro, certainly not this quick. Even before this most recent episode, with all the bailout money that has been put out there in the states, there will be a large inflation factor hitting us at some point. IMO that has already started showing up in food and fuel over the past year. While fuel is down some recently, it's still higher than last year. Food is up quite a lot more than that. Adding dollars in Europe will only compound the issue.

All that said this bailout will probably push the european collapse back by some time frame (several weeks/months). It may well accelerate ours.

No worries bud. Just wanted to nip things in the bud to prevent it from going down that road.

I agree with everybody that a European meltdown can drastically effect us here. Probably in very bad ways. I don't mind a discussion of how bad as long as we don't spiral off into zaniness and hope that the main focus is how to prepare for those scenarios.

[Sniper-T]

Oh... LOrd!!!!

I have to pull issue with Justa`s issues... Are you freakin`kidding meÉÉÉ

Seriously....

OMG!!!

no offence girl... cause I really respect your opinion.... but...

IMO... if Europe crashes... we will be immediately on its tail... IMO...

please... prove me wrong!

[ravensgrove]

I agree with the Stig above. ^^^^^
On a side note: the only way I can percieve to prepare for impending financial doom...which I think most of us think is, if not just around the bend, already here....is fourfold:

a) Get out of the dollar, minimum get as much money as you can out of banks to begin with and into concrete investments. We recently left a very large bank we have been at our entire lives...I don't think its long for the count, and it made me nervous.
b) Start growing your own food, as much of it as possible and learn how to preserve that food, from now until they finally declare this a Depression and start rationing commodities: stock pile commodities.
c) Become less dependent on gas/oil. You need to do this anyhow, but as a for instance..if you are commuting a coon's age to work...look for work closer to home, organize vanpools et all.
d) Whether it means your church for you, or starting a legitimate barter group...start creating networks now that do not depend on the dollar for goods exchange.

[JustAPrepper]

Oh... LOrd!!!!

I have to pull issue with Justa`s issues... Are you freakin`kidding meÉÉÉ

Seriously....

OMG!!!

no offence girl... cause I really respect your opinion.... but...

IMO... if Europe crashes... we will be immediately on its tail... IMO...

please... prove me wrong!

Sniper, Breathe Brother! Breathe! Maybe you misunderstood...If the EU fails, everyone fails. They will drag us all down. However, my specific points were that regardless of which way the EU goes, Americans will face HUGE inflation issues because of all the USD's we have just pumped in to their system. Does that make sense?

[Gunfixr]

Oh, we're definitely going to take it hard either way.
The EU is roughly 1/5 of the world's economy, so their collapse would be felt around the world. We are a part of that world, so we will have repercussions.
By printing more un-backed "worthless" paper bills, and putting them into circulation, even in another country, directly and immediately devalues every dollar already in existence. By them being far away it may take longer for us to see it, but it will happen.

Of course, we here live paycheck to paycheck, we have no money to lose. Our problem will be to pay the inflated prices.

[Sparrow]

Super-depression, that is what I call what is set up to come. Will be very livable for us who are trying our best to acquire old school homesteading skiils (if only we could all be as farmer Raven gifted) ...

[Fatty]

Regardless, history proves that the last depression occurred from the same location. All of this will eventually make it harder on global economy. Meaning no one can escape this string of dominos. All you can do is soften the blow on yourself by getting/staying organized. I wouldn't wish this on anyone.

[mollypup]

Super-depression, that is what I call what is set up to come. Will be very livable for us who are trying our best to acquire old school homesteading skiils (if only we could all be as farmer Raven gifted) ...

I don't particularly want all her farmer "gifts". They wouldn't work as well where I live. I have my own set of gifts that are appropriate for my location. Others have theirs for where they live. Sparrow, actually of all the "gifts", yours would be most preferable to me. :)

[Sniper-T]

Sniper, Breathe Brother! Breathe!

whew... thought I was going to hyperventilate there...

lol

and yup... see where you're coming from now.

[ravensgrove]

I am going to second Molly above...and add...I'm not gifted in anything but stubborness and adaptability. There isn't a damn thing I do, everyone here couldn't do...the only difference is, I have done it. I am stubborn like that, I want to atleast try everything physically possible myself.

Adaptability/flexibility I didn't have as a natural gift, Big J beat it into me with a big stick and years of being deployed.

That's an important point, you never know what you can do, until you have to.

[Sparrow]

See, my 'gifts' I had to develop, much like Raven, because I don't have a man in my life to take on that role - and it is an interest as well ...

*Looks at pressure canner still in box*

But yeah, I agree that I wouldn't wish what is coming on anyone, however it will be much harder for those who continue to live in an 'entertainment' bubble or for instant gratification.

However, on the flip side, we are 7 Billion people know. This number simply has to come down. History shows that people breed less during a depression, so that combined with sterility chemicals in vaccines, ... maybe a super-bug like the one in this article: (Scientists Brace for Media Storm Around Controversial Flu Studies - ScienceInsider (http://news.sciencemag.org/scienceinsider/2011/11/scientists-brace-for-media-storm.html#.TtbLrHkphis.facebook)) ... yeah, I'll eat my hat if in 10 years the 7 million population hasn't come down yet ...

[Sniper-T]

What kind of hat?
:cool:

[Sparrow]

A Canadian tuque! :)

[ravensgrove]

Ummm...do you want steak sauce for your hat or ketchup? That number won't go down...no way in hell. China and India alone will explode that number.

[Grumpy Old Man]

One can never have too many beans...;)

You obviously have never been around me when I've made beans and ham hocks. Tired Old Man says in his stories that your body becomes "acclimated" to beans, but that hasn't been my experience.

Back on topic, with the European Banks heavily invested in derivatives, as are our banks, and with our multi-national banks heavily invested in European banks, coupled with the Red Chinese holding a lot of debt, but also relying on exports to fuel their economy and artificially keeping the Yuan low, when the Euro collapses the whole house of cards will come tumbling down. This is a similar situation to the one leading up WW II. Comforting thought isn't it?

[mollypup]

Sounds pretty good to me GOM. And to add a little gasoline to the already burning euro situation, just today Mike Ruppert posted a "member's alert" video message saying that WWIII had begun. He believes war with Iran has already begun and it will quickly lead to nuclear attacks. He says to check your supplies, get some cash, KI pills and get ready to hunker down. Honestly, I don't know whether to believe him or not, but he has access to more information than I certainly do. What a weird time to be a human living on this planet. :confused:

[Grumpy Old Man]

I tend to agree with Ruppert Molly, Caesar has crossed the Rubicon. "Alea iacta est". It's just waiting out the countdown.

[Sparrow]

WWIII isn't supposed to start until very late 2012 ... early 2013 ... I AM NOT READY YET!!!

However, I now have one very hot ex soldier to protect me in case S does HTF. So I am way more relaxed now ... *happy dance*

[Sparrow]

You obviously have never been around me when I've made beans and ham hocks. Tired Old Man says in his stories that your body becomes "acclimated" to beans, but that hasn't been my experience.

Back on topic, with the European Banks heavily invested in derivatives, as are our banks, and with our multi-national banks heavily invested in European banks, coupled with the Red Chinese holding a lot of debt, but also relying on exports to fuel their economy and artificially keeping the Yuan low, when the Euro collapses the whole house of cards will come tumbling down. This is a similar situation to the one leading up WW II. Comforting thought isn't it?

^^^^^^^^^^^^^^^^^^ leading up ... timeline?!

[Grumpy Old Man]

Great Depression>1932 fall of the Weimar Republic rise of National Socialism>1933 gold confiscation by executive order> bank failures daily>1936 appeasement of Germany begins after German military build up> 1938 Neville Chamberlain sells out Czechoslovakia to Germans> September 1939 "Border Incident " with Poland and Germany> Blitzkrieg, Britain and France declare war on Germany...............

Bear in mind Sparrow that what used to take a decade can occur within a few months now.

[Sniper-T]

what used to take a decade can occur within a few months now.

Given everyones current state of 'ready-ness' this could be a lot less too!

[mollypup]

Event are moving at at MUCH more rapid pace than they used too. Like Grumpy said, what used to take 10 years only takes a few months.....or even less! I've heard it called, "The Quickening". It's really weird but I do believe it to be happening.

[eagle326]

Event are moving at at MUCH more rapid pace than they used too. Like Grumpy said, what used to take 10 years only takes a few months.....or even less! I've heard it called, "The Quickening". It's really weird but I do believe it to be happening.

The Quickening is what happened when the highlander took the bad guys head.
Just a little humor so we don't get too uptight. :)

[Sniper-T]

THERE CAN BE ONLY ONE!!!!!!!!!!!!!!!!!!!!!!!!!!!

http://i199.photobucket.com/albums/aa34/flintvoyager/Highlander/6df2re2.jpg

[eagle326]

THERE CAN BE ONLY ONE!!!!!!!!!!!!!!!!!!!!!!!!!!!

http://i199.photobucket.com/albums/aa34/flintvoyager/Highlander/6df2re2.jpg

You guys are just TOOOOOO Good with puters and picture posting. I was lucky just figuring out how to post my avatar. Wife says it's my best pic. LOL

[bacpacker]

Excellent Movie. Sean Connery is great!
Molly I think "Quickening" is a great way of putting it. It feel to me like that is exactly what has been going on since the late 80's. It also seems to have accelerated greatly since late 2001.