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  Europe. Is. Finished.

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PostSubject: Europe. Is. Finished.   Sun Nov 06, 2011 10:35 pm

Europe. Is. Finished.

The Rumor Mill News Reading Room
Posted By: Lion [Send E-Mail]
Date: Sunday, 6-Nov-2011 21:35:00

If you click the link below, and look at the charts, the situation becomes clear enough for even a monkey in a tree to understand.
If, by any measure of common sense at least, there are regulatory rules in play here, it appears to be the beginning of the end for the Eurozone project.

However, as we have learned, there are no rules and no laws when it comes to international bankster financial scheming.
What seems clear as glass to one who accepts that 1+1=2, can become 1+1=11 to bankster crooks.
We all expect TSTHTF - but wait - the banksters could claim all the SHTF as assets, and declare their self solvent.
I kid you not.
Source: Zero Hedge
Thus far, my analysis of Europe has focused on the super-leveraged banking system (26 to 1).
At these levels, even a 4% drop in asset prices wipes out equity. That alone warrants concerns of systemic risk.
The situation is not much better at non-Financial European corporations.

Indeed, the debt situation is so endemic to Europe as a whole that corporate Debt to Equity ratios for ALL of the PIIGS as well as the supposedly fiscally conservative countries of France and Germany are TERRIBLE.
What I’m trying to point out here is that Europe’s debt problems extend well beyond Greece’s debt.
Indeed, the entire European banking and corporate system is over-burdened with debt.
The situation is no better for European Sovereign states themselves, which are facing their own debt roll over issues at a time when investors are rapidly losing their appetite for sovereign debt.
To wit, Spain, Portugal, and Italy have all relied heavily on the ECB to buy their debt at recent auctions.
Germany actually just had a failed debt auction this morning.
And in this environment , these nations need to meet the following debt roll over obligations:

And this is just maturing debt that’s due in the near future: it doesn’t include unfunded liabilities.
Jagadeesh Gokhale of the Cato Institute puts the situation as the following,

“The average EU country would need to have more than four times (434 percent) its current annual gross domestic product (GDP) in the bank today, earning interest at the government’s borrowing rate, in order to fund current policies indefinitely.”
As I said before, Europe is finished. The region’s entire banking system is insolvent (with few exceptions).
European non-financial corporations are running massive debt to equity ratios. And even EU sovereign states require intervention from the ECB just to meet current debt issuance, to say nothing of the huge amount of sovereign debt roll over that is due over the next 14 months.
Again… Europe. Is. Finished.

The Great debt Implosion will hit Europe within the next 14 months and likely much much sooner.
When it dues, we will see numerous debt defaults and restructuring on both the corporate and sovereign levels.
We’re also very likely going to see significant portions of the European banking system collapse “Lehman-style” along with subsequent HUGE losses of capital.
The impact of this will be global in nature. The EU, taken as a whole, is:
1) The single largest economy in the world ($16.28 trillion)
2) Is China’s largest trade partner
3) Accounts for 21% of US exports
4) Accounts for $121 billion worth of exports for South America
So if the EU banking system/ economy collapses, the global economy could enter a recession just based on that one issue alone (ignoring the other issues in China, Japan, and the US).
(end snip)
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PostSubject: Re: Europe. Is. Finished.   Sun Nov 06, 2011 10:56 pm

There is one good thing that will come out of a European Implosion and a subsequent recession here in America. The American People will start to do business amoung themselves the old way! AJ
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PostSubject: Re: Europe. Is. Finished.   Sun Nov 06, 2011 11:34 pm

Very true AJ! That's the beginning of the plan in place for years.
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PostSubject: Re: Europe. Is. Finished.   Sun Nov 06, 2011 11:50 pm

AJ no one wants to see an end to the FED and a return to the gold standard more than I do but I think it needs to be a transition with competition...Wouldn't a crash devalue what we will get from the RV to the point of it being worthless? We haven't audited the gold in Fort Knox in over 50 years...I would bet thats because there isn't any

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PostSubject: Re: Europe. Is. Finished.   Mon Nov 07, 2011 12:07 am

Sure would kirkl. I would rather see the RI now, get the gold, then let them crash some 3 to 5 years later.
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PostSubject: Re: Europe. Is. Finished.   Mon Nov 07, 2011 8:09 am

I'm not very good at the world of finance, but how badly will all of this eventually affect our markets, value of the USD, etc.?
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PostSubject: Re: Europe. Is. Finished.   Mon Nov 07, 2011 8:12 am

The RV will be able to prop the current system up for a few years. Thats why I have faith that it will happen. However, this crash is coming and when it does, it's going to be ugly. The need to debase our currency, the dependance of most of our population for everything and the interconnectedness of the financial system should be worrisome. In my humble opinion, this is going to be the last chance to prepare for this deleveraging that will inevitably take place.
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PostSubject: Re: Europe. Is. Finished.   Mon Nov 07, 2011 7:13 pm


As long as DC and folks who are sent there change their habit of spending more then they have, the RV is only a small bandaid on a large wound.

Being defeated is often a temporary condition. Giving up is what makes it permanent.
Marilyn Vos Savant

Yesterday would have been better, but today is a good day

Remember as always, JMHO
Rantings from just north of sixty
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