Brexit Deal

[Wattie]

If the Euro Ponzi scheme (as you call it) goes down we go down with it.

Think of it as being in a life jacket having abandoned ship as it is sinking.
You're ok whilst the ship is still on the surface. But unless you get far enough away from it when it goes under the waves, you will be sucked down with it.

Geoff if you cannot see this even tho you’re stating it
“Think of it as being in a life jacket having abandoned ship as it is sinking.
You're ok whilst the ship is still on the surface. But unless you get far enough away from it when it goes under the waves, you will be sucked down with it”

The Eu is a sinking Ponzi scheme ship. If we have all our trade in that ship what do u think is gonna happen. Every year the ECB is having to reinvent the bailout procedure by calling it something else, or a different blame game......it’s about to do it all again!

All of these countries should not be using the same currency. It’s a little like a cul de sac where everyone is expected to drive a Maserati.
Mr Efficient (Germany) is fine.
Mr Kebab (Greece) needs to borrow a lot to do so initially but the summer season is short and he doesn’t work much, so his repayments are a problem.
Mr Spaghetti (Italy) is a bit like Mr Kebab, he tries hard, but he really can’t work the number of hours in a day to earn the same as Mr Efficient.....and every few months he gets a knock on the door from the mafia if he’s fallen behind with his payments

Result, they’re all driving Maseratis, but the servicing, insurance, maintenance and indeed overall condition of some is a little less than fecked.

And to top it all a convicted criminal will next be running the ECB!

FFS!!!!!

 

[rockits]

I have always wondered what bright spark decided it was a good idea to print money?

When did anyone think that tool when used was going to allow things to work out well.

 

[GeoffCapes]

The Eu is a sinking Ponzi scheme ship. If we have all our trade in that ship what do u think is gonna happen. Every year the ECB is having to reinvent the bailout procedure by calling it something else, or a different blame game......it’s about to do it all again!

I knew you would bite on the little bit of bait I left.

You have illustrated it perfectly what will happen.

However, not all sinking ships sink. In fact most don't (20 years of Marine insurance taught me that).
Most ships in difficulty (as they preferred them being called) are towed to a safe harbour, cove or handy sandbank) where they have the water pumped out and are refloated.

Using this analogy, us leaving the EU, especially without a deal, will be like opening the seacocks and hatches and scuttling the good ship European Union.
And it would drag us down to Davy Jones's Locker with it.

However, if we were to stay in the EU, we have a hand in helping the member states in difficulty whilst helping ourselves.
The printing of money is the same as towing the stricken EU vessel to a safe haven.

If we leave, the house of cards falls. And we go with it.

 

[Wattie]

However, if we were to stay in the EU, we have a hand in helping the member states in difficulty whilst helping ourselves.
The printing of money is the same as towing the stricken EU vessel to a safe haven.

If we leave, the house of cards falls. And we go with it.

Europe doesn’t want help, certainly not ours...it’s trying to pretend everything is fine.

Oh by the way, hilarious!

“This is a breaking news story, please check back later for more.

ECB President Mario Draghi warned last month that without a clear improvement for the euro zone economy, the central bank would announce further stimulus measures. This caused market players to up their forecasts for new interest rate cuts or even a bond-buying program. Draghi, speaking in June in Sintra, Portugal, made it clear that his institution was ready to use all necessary measures to revamp the flagging economy.

Data out Wednesday further highlighted the recent weakness, showing German manufacturing PMIs (Purchasing Managers' Index) falling to 43.1 in July from 45.0 in June. At the same time, new orders in the country dropped at their fastest pace since July 2012, on the back of weakness in Chinese demand and in the auto sector.

The ECB had embarked on a major stimulus package following the sovereign debt crisis of 2011. This included cutting interest rates to record lows, purchasing government bonds and facilitating more lending to euro zone banks. The bank tried to normalize its policy last year — and catch up with other central banks like the U.S. Federal Reserve — but with global trade wars and softness in China most of these banks have now signaled a U-turn. In the U.S., investors now believe there's an 80% chance that the Fed announces a 25 basis point cut when it meets next week.

At its last meeting in early June, the ECB's Governing Council revised its interest rate expectations, indicating that its first-post crisis rate hike is unlikely to come before mid-2020”

So who’s telling the truth.
Me.
Draghi.

If you think it’s Draghi he ain’t got it right in 7+ years and now he’s blaming it on “but with global trade wars and softness in China most of these banks have now signaled a U-turn”

Really, pity Eu economies haven’t signalled a uturn from being bust from 2011-2018?

Let’s blame it on the Us and China trade war.

The ECB has NO CHOICE BUT TO PRINT MORE MONEY AND REDUCE INTEREST rates as it’s a Ponzi scheme and it relies on this.

 

[Wattie]

I have always wondered what bright spark decided it was a good idea to print money?

When did anyone think that tool when used was going to allow things to work out well.

The “tool” that thought it was a good idea was a banker.
Enough said.
By the way if printing money solves the problem please create 999trillion immediately and everything will be fine.
Not.
Wonder why people buy gold?

 

[midlifecrisis]

I don't think you can put the worlds financial crisis down to a pizza chain.

I think what Wattie was trying to say was that the financial crisis was down to the lack of Anchovies

 

[Wattie]

I think what Wattie was trying to say was that the financial crisis was down to the lack of Anchovies

Nope it’s down to a lack of common sense.

Do what they do, not what they say.

 

[midlifecrisis]

Number on a spreadsheet... what are we looking at?

 

[MaserCoupe]

Number on a spreadsheet... what are we looking at?

Snap!!! I was going to ask the same. It would really be helpful if you could break it down for us wattie into layman’s terms. Highlighting the importance and relevance please. As it stands I’m not sure what we are looking at here.

 

[midlifecrisis]

M

Snap!!! I was going to ask the same. It would really be helpful if you could break it down for us wattie into layman’s terms. Highlighting the importance and relevance please. As it stands I’m not sure what we are looking at here.

Maybe that's the matrix

 

[MaserCoupe]

M

Maybe that's the matrix

But who’s Agent Smith?! I’m absolutely sure he’s mentioned something about taking the blue pill before.......

 

[CatmanV2]

But who’s Agent Smith?! I’m absolutely sure he’s mentioned something about taking the blue pill before.......

https://xkcd.com/566/

C

 

[daverichardson]

But who’s Agent Smith?! I’m absolutely sure he’s mentioned something about taking the blue pill before.......

Viagra?

 

[Wattie]

Snap!!! I was going to ask the same. It would really be helpful if you could break it down for us wattie into layman’s terms. Highlighting the importance and relevance please. As it stands I’m not sure what we are looking at here.

No blue pills or viagra required gents- fiat currency printed out of thin air is only backed by goodwill and sentiment.....,, and then eventually you end up like Zimbabwe.
Bankers/politicians love this cos it gets them out of bother- got a problem, print money. Literally papering over cracks, not solving anything just getting deeper and deeper into debt.
However, a monitory system backed by Gold ie a return to the Gold standard is what’s really required. If they were to back their printed cash with gold ( which used to be the case) it would dramatically revalue from its solid base now.
Without this they’ll just rack up more and more debt, see your lovely debt clocks.... trillions in debt with absolutely no chance of ever being repaid.

I
suggest you acquaint yourself with the “American debt ceiling problem@ and the incredulous story of the “trillion dollar coin”


For now bankers and politicians are happy to ignore prudent fiscal policy and pass on to the next generation until it all goes BOOM.

 

[lifes2short]

until it all goes BOOM.

I tend to prefer the terminology "tits up"

 

[midlifecrisis]

No blue pills or viagra required gents- fiat currency printed out of thin air is only backed by goodwill and sentiment.
Bankers love this cos it gets them out of bother- got a problem, print money. Literally papering over cracks.
However, a monitory system backed by Gold ie a return rn to the Golf standard is what’s really required. Without this they’ll just rack up more and more debt, see your lovely debt clocks, which they’re happy to ignore and pass on to the next generation until it all goes BOOM.

He's relentless...

I always fell asleep when trying to watch Matrix,

 

[Wattie]

I tend to prefer the terminology "tits up"

Me too, I’m off to play golf where it always goes exactly that.

 

[Wanderer]

He's relentless...

I always fell asleep when trying to watch Matrix,

Or did you?

 

[Wattie]

He's relentless...

I always fell asleep when trying to watch Matrix,

Well the alternative is “austerity” and massive cut backs to the welfare system but that didn’t go down too well.
Did it?
If u as an individual live beyond your means u end up in trouble.
Why do you think it’s different for governments?

 

[Wanderer]

Well the alternative is “austerity” and massive cut backs to the welfare system but that didn’t go down too well.
Did it?
If u as an individual live beyond your means u end up in trouble.
Why do you think it’s different for governments?

Co there's a Magic Money Tree.