The Beginning Of The End
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And So It Begins – The First Major European Bank Has Been Bailed Out And More Bailouts Are Coming

And so it begins.  The first major European bank bailout of 2011 has now happened.  French/Belgian banking giant Dexia has failed and both governments have pledged to participate in a rescue plan.  But Dexia will not be the last major European bank to fail.  Even now, governments all over Europe are feverishly developing plans to bail out major national banks in the event that the current financial crisis goes from bad to worse.  Instead of learning the lessons of 2008, most major European banks have continued to pile up huge mountains of debt, leverage and risk.  Now the bill for that stupidity is about to be passed on to the taxpayers of those nations.  But with most nations in Europe already drowning in debt, are bank bailouts really the right course of action?  What is it going to happen to Europe if dozens of major banks start failing and trillions of euros are needed to bail them all out?

Dexia is the first victim of the new credit crunch.  It got to the point where Dexia simply could not get access to the funding that it needed in the credit markets.

We are starting to see this all over Europe.  Nobody wants to loan much money to European banks right now because it is unclear what is going to happen next in Europe and it is uncertain which banks are stable and which are on the verge of collapse.

This is so similar to what happened back in 2008.

But Dexia is not going to be “the next Lehman Brothers” because the governments of France and Belgium are stepping in to save Dexia from collapse.

A recent article in the Financial Post described how the rescue of Dexia is likely to proceed….

Dexia will effectively be broken up, with the sale of healthier operations while toxic assets, including Greek and other peripheral euro zone government bonds, will be placed in a state-supported “bad bank.”

The details of the plan will be negotiated over the coming days, but authorities are making it clear that Dexia is not going to be allowed to collapse.  Bank of France Governor Christian Noyer is assuring everyone that Dexia is going to have access to plenty of liquidity….

“We will loan Dexia as much as it needs”

It appears that the “too big to fail” doctrine is alive and well in Europe.

Sadly, this is not the first time that Dexia has been bailed out.  France and Belgium also bailed out Dexia back in 2008.

But this was not supposed to happen.

Just three months ago, Dexia received “a clean bill of health” from regulators during European Union bank stress testing.

It just shows how credible those “stress tests” really are.

So are more European bank bailouts coming?

It certainly looks that way.

An article in the Financial Post on Tuesday stated the following….

European finance ministers agreed on Tuesday to prepare action to safeguard their banks as doubts grew about whether a planned second bailout package for debt-laden Greece would go ahead.

Of course when they talk about the need “to safeguard their banks” they are talking about those that are deemed “too big to fail”.  Just like in the United States, banks that are “too small” don’t get bailed out at all.

But western governments are very protective of the big banks.  The big banks are allowed to take gigantic risks, and if they succeed they make tons of money and if they fail then the taxpayers bail them out.

With big trouble on the horizon in Europe, authorities are already getting ready to bail out the major banks.  A Bloomberg article from last month acknowledged that the German government has been very busy getting ready to bail out their major banks in the event that a Greek default becomes a reality….

Chancellor Angela Merkel’s government is preparing plans to shore up German banks in the event that Greece fails to meet the terms of its aid package and defaults, three coalition officials said.

As you read this, there are already signs of trouble at major German banks.  For example, Deutsche Bank has just announced that it is eliminating 500 more jobs.

The fundamental problems that Europe is facing are not being solved and the financial crisis is getting progressively worse.  With each passing day, more bad financial news comes pouring in.

For example, Moody’s slashed Italy’s bond ratings by three levels on Tuesday.

A reduction of just one level is very serious business.  For Moody’s to hit Italy that hard is a really big deal.

Italian banks have also been targeted by the credit rating agencies.  The other day, S&P slashed the credit ratings of seven different Italian banks.

If Italy goes down, it is going to be an absolute nightmare.  The Italian economy absolutely dwarfs the Greek economy.  The EU has been really struggling to bail out Greece, and there is no way in the world that they would be able to bail out Italy.

So if nations such as Italy or Spain start collapsing, will the U.S. Federal Reserve step in to help bail them out?

You never know.

The sad truth is that the Federal Reserve can do pretty much whatever it wants and nobody can stop them.

As I wrote about the other day, the Federal Reserve has agreed to join with other major central banks to lend hundreds of billions of dollars to major European banks in October, November and December.

As the past few years have shown, wherever big, global banks are in trouble, the Federal Reserve is sure to step in and help.

And many big banks in Europe are definitely headed for trouble.  Right now, European banks are holding more than $4 trillion in European sovereign debt.

A lot of that debt is bad debt.  Today, troubled European nations Greece, Portugal, Ireland, Italy and Spain owe the rest of the world about 3 trillion euros combined.

That is a whole lot of debt out there, and many big banks are so leveraged that just a 5 percent reduction in the value of their holdings could wipe them out.

Hold on to your hats folks.

So what should we be watching next?

Well, Greece continues to be a huge problem.

The IMF, the European Central Bank and the European Union are very frustrated with Greece right now.

On Monday, it was revealed that Greece is not going to hit the deficit reduction targets set for it by the “troika” either this year or next year.

European officials have been particularly displeased that Greece has been getting all of this aid money and yet has not been strictly adhering to the austerity measures that they agreed to.

However, the reality is that the austerity measures that Greece has actually bothered to implement have hit the Greek economy really hard.  The more Greece reduces government spending the more the Greek economy seems to slow down.

Greek Finance Minister Evangelos Venizelos recently announced that the Greek economy is projected to shrink by 5.3% in 2011, and Greek debt continues to spiral out of control.

Meanwhile, severe economic pain continues to spark huge protests all over Greece.  Scenes of riot police firing tear gas and protesters throwing stones at police have become so common in Greece that most of us don’t even pay much attention anymore.

But all of us should pay attention to what is happening in Greece.

Eventually these kinds of economic riots will spread throughout the rest of the western world as well.

And every day Greece just seems to get closer and closer to default.

At this point, global financial markets seem to consider a Greek default to be inevitable.  The yield on 2 year Greek bonds is now over 65 percent.  The yield on 1 year Greek bonds is now over 135 percent.

Greece is toast without more bailout money.

But now major politicians all over Germany are declaring that Germany is done contributing money to the European bailout fund.

And without Germany, the rest of the eurozone is not going to be able to continue the bailouts.

So the clock is ticking.

Once the current bailout fund has dried up, the bailout game will be over.

What will happen then?

Will that be what sets off a massive financial collapse in Europe?

Could we actually see the end of the euro?

For a long time there was speculation that it would be weak nations such as Greece that would leave the euro.

But now it appears increasingly likely that if someone is going to leave the euro it might be Germany.

Most German citizens would be in favor of such a move.  One recent poll conducted for Stern magazine actually found that 54 percent of all Germans would favor leaving the euro.

But if Germany left the euro it would absolutely implode.  German economic strength is the primary thing holding the euro up at this point.

In any event, it is going to be very interesting to watch what will happen to Europe over the coming months.

Greece, Italy, Portugal and Spain are all steadily marching toward collapse.

Germany says that it is done bailing out other members of the eurozone.

Dozens of major European banks are teetering on the brink of disaster.

People get ready – a storm is coming.

Time is running out for Europe and there is no help in sight.

  • 007

    The first domino. The governments bail out the bank. The government has no money. The government prints money. Gold goes to Pluto. Watch it pop.

    • Lee.S

      i like gold but believe it will deflate with everything else. it may go to pluto in the medium / long term, but not in the short-term

      • http://lnx-bsp.net/ Tel

        Food goes to Pluto.

        Learn how to use salt.

      • 007

        The ever increasing inflation along with the decline of the dollar against other currencies will force everyone out of treasury notes. People can not go on indefinitely accepting a serious negative return on investment. Investors are scared to death and rushing into treasuries in a panic stampede mentality.

        When European Central Bank (likely with the FED) starts printing money for bail outs, smart money will start searching for more stable places to store wealth. Eventually gold will substantially correct. However not until the dollar bubble and treasury debt bubbles collapse. That will not happen until a few years in the future.

        • 007

          Don’t forget, the central banks and governments are buying gold up like hot cakes. They really don’t have any reason to keep the price down. Rather, they are raising the margin limits to buy it to limit it to the big investors.

          Buy the dips. It can me up to it’s record price in a weeks time.

      • 007

        Gold would normally deflate in a deflationary environment. However, it will not in a money printing environment. As long as governments print money, we will not have deflation. We will have inflation, bubbles. Occasionally, these bubbles will burst, like in real estate which will cause price drops. However, overall prices for food, energy, healthcare, education and about everything you need to live will increase.

        There is no food bubble and there is no gold bubble.

    • robertsgt40

      Yep. Now we know why Germany is printing Marks again. This is going to get ugly quickly.

  • Randy Robinson

    I have been thinking. The market manipulation in the US over the the last couple of days. The manipulation of the silver market. The bailout of these banks even though the nations are swamped in debt. There is only one logical conclusion. There is something bigger happening then this global economic crisis. There simply has to be. All these efforts are simply to hold things together until some really big announcement is made to the world. I don’t know what it is but its going to be a lot bigger then this financial stuff that’s going on. It makes sense when you look at it.

    • http://www.prepareforeconomiccollapse.org James Bell

      Randy, I think you are spot on here. Something much bigger is brewing and we will all be shocked when it happens. What most people don’t understand is that all of this is pre-planned by the elite. Yes I never used to believe in the elite and the NWO etc. but I decided to dig deeper into the rabbit hole and boy it sure aint pretty.

      The only thing the elite still need to do before they can establish the new world order is to bring the US dollar and economy to it’s knees.

      They smashed silver down by over 25% in 2 trading days, gold got smashed as well. When the fiat ponzi scheme collapse they don’t want anyone to be holding gold and silver but themselves which is why we are seeing the smashdowns. That plus the fact that they needed lower prices to cover their massive short positions especially in silver.

      We are truly living in crazy times and everyone should prepare as best they can ASAP!

      Cheers

      James

      Free guide shows how to prepare for economic collapse

      http://www.prepareforeconomiccollapse.org/free-report

      • Jack Daniels

        Google Socionomics.
        This science describes how humans herd, and how the positive feedback of that process causes oscillations in social mood. This defines everything, including the markets [it’s not news that moves markets, it’s the interpretation of news, and that interpretation depends upon whether people are feeling optimistic or pessimistic].
        According to their model all the various degrees of wave are currently turning down simultaneously.
        This hasn’t been planned by the politicians. Politicians are not, and never have been in control – as one Mrs. M. Thatcher once observered ‘You can’t buck the market’. All politicans can do is position their nations best to survive the storms, but unfortunately, our politicians failed to do that, presumably never having made it to the end of the first chapter of the Bible where the story of Joseph saving in the good years to provide during the lean years is told.

      • Sam

        James,

        Maybe WWIII – we are already close to it with the US involved in several countries (Libya, Middle East, Afganistan etc), similar to what happened before WWII.

        BTW why would the elite be short in Silver if their ultimate goal is to be the only longs?

    • Christians for Israel

      I agree with you Randy. Something doesn’t seem right when wall street rally’s on bad news or not so bad news. It seems we are in a similar situation to 2008 and yet the stock market is hovering around 11,000. With all the bad data coming out over the last 6 months, the markets should be doing much worse.

    • D

      Yep, it will be WWIII. It will be announced after everything collapses in order distract the sheeple again.

      This cycle has been happening for thousands of years.

      • robertsgt40

        Correct. That’s how we got WWI and WWII. Gold and silver will come in handy WTSHTF

    • kalord

      I think your right randy and
      God is giving warning precisely through dreams at http://www.formypeople.org Read the latest dreams and see how they are being predicted before they happen and they are happening

      • PaulF

        How anyone could fall for this obviously false, and childish, prophecy is amazing. What a bunch of silly nonsense.

  • r.bitting

    The system is just weeks away from imploding and the whole world is about to burn to the ground, and people go about their daily routines without a clue about the avalanche thats coming upon them. It’s too late to stop it from happening, and no politician is the answer. Has’nt the last 8 years proven that to you. No party, whether it’s the tea party or the wall street mobs will stop this. Many will be distroyed in their complacency. Turn to Christ and turn from your sin. It is the depravity of man that has brought us to this day. Do you really think that mankind will change. We have caused all of this and we are about to recieve the fruit of our doings. Better turn to Christ people.. OUR TIME IS UP!

    • REED RICHARDS

      r.bitting,

      Okay Slic Rick Perry. I am on my way to the Astrodome in Houston for your next prayer away our man-made problems. See you in a few…….

    • alex

      It is called the New World Order infusing a ONE WORLD CURRENCY which means we are total slaves to them.

    • kalord

      http://www.formypeople.org is explaining everything down to the detail through DREAMS being givin to ernie knoll. Please take heed guys. These are not false prophecies; theyre all coming true!!!!!!! Read them, dont just assume

  • http://livingstrongandhappy.blogspot.com/ Dr. Martha Castro, MD

    Thank you so much for all the information you provide everyday. I am a follower of yours and have learned quite a lot from your postings.

    I found this interesting interview about the banking system in Europe and the world. The interview was conducted yesterday, I think.

    TITLE:
    IMF adviser says we face a Worldwide Banking Meltdown withing the next 2 to 3 weeks.

    LINK:
    VIDEO

    • Michael

      Well thank you for the very nice words Dr. Martha.

      And thank you for posting the link to that video.

      Michael

  • Morpheus

    This is insane. We should bail out the people by creating jobs. Bailing out banks will do notihg but waist more time and money so they can push more austerity on the people. The world is insane, and until the people rise up, we are going to suffer tremendously.

    We don’t have to live like this!

    FIGHT THE CAUSE – NOT THE SYMPTOM
    OsiXs (Revolution 2.0 – The Smart Revolution)

  • mark

    A better question to ask is how much longer will people trust paper money that is just backed up by the trust me, we will not print and print. For every new problem the fix is a new bubble. This will not work and when we crash for real the repair will be a lot harder. I for one have zero debt and it took years of living below our means to do this. We can afford to buy any food, but we still grow a large garden. We have canned a lot of it. I picked 20 gal. of blackberries that we processed into jam, juice, etc. The point is that you must start to produce food for yourselves. If you don’t belive the information that Michael and others bring to you, do nothing at your own peril. You just don’t learn these skills overnight. Start small if you must but start now. People talk about bugging out. Where do you think you will bug out to? Are you going to live in a tent and sleeping bag? How long will the food in your backpack last? Your homes have beds, blankets to keep you warm, pots and pans, dishes, books I hope, a toilet with toilet paper and a sewer instead of an outhouse or worse. Stock up on food, water and other supplies so that you can stay in more comfort in your home. Stock up enough so that you can help out your neighbors. Do they read these type of blogs to see what is coming? Right now this country is loaded with food in stores. Our local grocery store is having their anual case sale this week on can foods. I hope that many where I live will take advantage of this. If a collaspe happens these type of sales would be history. Do what you can to protect yourselves.

    • Ian

      If we collapse, what difference will it make if you are in debt? We wont be able to pay debts, so all debt will be forgiven and we will evolve and we will survive, and we will do away with the monetary system and we will one day realize how stupid and primitve we were as a species.

      • Christians for Israel

        I’m afraid your wrong on debt being forgiven. Do you think that China is going to forgive us for 1+ trillion dollars we have borrowed? I don’t think so. China will attack us if the dollar collapse. They have been building up there military for the last 10 years or so and now there have been rumors floating around the last few month’s that the Pentagon is drafting plans for an air/sea war with China.

        • Ian

          i doubt your unpaid credit card bills will be of much concern when the whole system collapses. Just wait a couple years, and we are going to start to see the unraveling and the end of the currency based monetary system which is holding us back from evolving at this point in our species history. We need a resource based economy or we will not survive much longer.

        • ode

          China isn’t going to attack us over a debt they are currently trading for mines and land in Africa and Australia…dumping the dollar behind the markets back.
          They MIGHT take over in the Middle East oil deal if we leave, though…and we can’t afford to stay.

  • http://www.futurehousemusic.com Dino

    Let them collapse ***********. Who will stop these globalist and elitist of destroying this planet. People from all over the world must unite and fight these bastards, or we will be enslaved forever. This is a crucial time in modern history and people must realize that as soon as possible, otherwise we are kaput. The root of all problems is FED and all of us should focus on that privately owned institution, which is above all of us.
    Good luck to all of us in the following months, especially next year.

    • REED RICHARDS

      Dino,

      I agree with you 100 percent, allow the bankers and the pyramid scheme casinos that they are running to collapse. Put those crooks in prison forever, or if giving the final word to Rosanne Barr ****************. Either way, these zombie banks need to collapse under the weight of their own corruption or be put out of their misery, permanently……….

    • http://www.placeofrefuge2012.com Sheila

      Agreed Dino,

      Trying to resurrect the dead corpse that is the ‘world economy” is a waist of time!

      “let them collapse” that is the correct refrain.

      http://www.placeofrefuge2012.com

    • Boycott American Women

      ************* awesome comment, man. I loved this part:

      Who will stop these globalist and elitist of destroying this planet. People from all over the world must unite and fight these bastards, or we will be enslaved forever.

  • The Golden Child

    i guess i can start putting my tae kwon do skill to good use in the future if the economy emplodes. in school for 2 associates degrees but not going for my bach degree.hopefully ron paul wins and get rid of these damn ball busting laws they have on businesses i can finally start my own and hire people. i think not only are our laws preventing us compete in the global economy. its also our technology that killing us as well and no one talks about that. i robot movie is a prime example although a movie that can be our future as well when machines taking more and more of our jobs. also free trade is killing us as well. i think the global economic should only be about trading oil, natural foods, metal,wood and supplies only. and have our own country produce and sell only in usa. if you buy overseas products its going to cost you more in taxes. take out the machines thats doin the work and put back in the americans. use technology for phones, cars, energy. get people to get into growing food and selling it, getting people to start new businesses and coming up with new ideas like we once did back then. actually do green energy, and cleaning our lake. no more distributing water if you do tax the hell out of it. start using hemp. let people grow weed. way better than cigarets and alcohol(less dealths)tax it. having more educational programs that teaches kids to play music, or do art, instead of investing so much money in sports. redo the educational system. open more trade schools because not everyone should be in college. bring the communities together by have small events in parks. bring back constrution jobs to maintain our buildings. stop making homes, and kicking people out their homes(which to me is unmoral). they should be able to stay in their homes till their house is sold instead of making them stay on the street and have an empty house, you never know they may have the money to pay for it later on.

    • mark

      Sorry Golden, with all of you smoking weed, who is going to do the work when the robots are taken off the production line. I sure don’t want to work constrution around pot heads, to much danger.

  • bj

    I have been doing my part to work the comment boards on Yahoo News. I find that it really does educate many who are clueless about what is really going on in our government, and what they have in store for us. Well today, I went to get on and they will not let me sign in, or even have access to reading the boards and seeing what others have written. I have made somewhat of a name for myself, and usually stirred a lively debate. My comments were always highly rated as I always told truth that could be backed up with sources. So people began to either trust me or hate me. I truly believe that Obama’s regime has infiltrated the media, and is filtering what the public hears. Scary days ahead. Especially with Mr. Van Jones coming out of the sewers, to stir up our youth to rebellion against America, and it’s time tested principles of free enterprise, self-reliance, etc. Obama, Jones, etc. are trying to indoctrinate the youth with entitlement mentalities, and anti-American mindsets. Obama must go quickly, before he digs us any deeper. I wish more Fast & furious documents would surface, that would give evidence of Obama & Holder conniving this scheme. All to justify anti-gun legislation! They are murderers, or accomplices to, and should both be in prison, along with all who contributed knowingly.

    • Michael

      I think that is great that you are doing that.

      Hopefully more people will get out there and work hard to spread the truth.

      If we work together we will have the best chance to wake up as many Americans as possible.

      Michael

    • D

      I actually think I found this blog through a post on Yahoo (comments).

      A funny thing I’ve noticed with Yahoo comments is that they don’t let you rate comments when the article focuses on the economy or politics. Did anyone else notice this? They allow it on other pointless media article but none relating to what we always talk about.

      I remember some guy posting about the elite sometime ago and it made the top page of comments (lot of people read it). Soon afterwards, they disabled that rating for stories which will drive those types of analyses. I find that interesting.

  • http://goldenladyfun.blogspot.com Pat

    Thanks for the article, Michael. I feel the need to comment not only because I live in Europe but because I am a 30+ year veteran of the financial industry. The thing I would remind everyone is that there are no accidents. This so called implosion was carefully plotted out years ago and executed with military precision. If you understand the motivation behind this move you can anticipate their next move.

    Of course “they” do not want you to know what their next move will be. This is only to maximize the damage to the will of the people. Similar to firebombing Germany at night at the end of the second world war. They want maximum psychological damage.

    My wife was raised in Soviet Russia. She tells me that these tactics are very similar to those used by the Oligarchs in her mother land. They killed millions of people and scarred their society for generations.

    My only suggestion is: be aware of the Hegelian Dialectic, read Sun Tsu’s “The Art Of War” and do not accept the Socialistic / Communistic option. Do not trade your freedom for food. Its a trick.

    My strategy would be to ignore these clowns. They will do anything to get attention including atrocities. Don’t give it to them.

    Finally, buy and save cheap affordable gold while you still can. If you need to make money I offer many money making ideas on my blog.

    http:/goldenladyfun.blogspot.com

  • dmitry

    dear michael,

    i would like to read the oldest post on your blogs. how can i find them?

    warm regards,

    dmitry

    • Michael

      Dmitry:

      On the bottom of the homepage there is a link that says “Older Entries”. If you click that link it will bring you to some older posts. And then at the bottom of that page there will be another link that says “Older Entries”. So in that way you can go back in time and see everything that I have written on the site.

      By the way, do you happen to live in Russia? I used to know a Dmitry from Russia, but I also know that there are countless numbers of men named Dmitry living there. :)

      Michael

  • Paul

    The banks have learned the lesson of 2008:

    The more debts you make the more likely the tax payer is ordered to foot the bill, while the bank bosses take home huge boni.

    • http://lnx-bsp.net/ Tel

      Moral hazard has taken it’s toll.

      Not long now and there will be no more suckers, errr… I mean moral people left.

  • hoser

    Are these failing banks the same banks bailing out failing countries like Greece? You can’t make this stuff up. All this bail-out crap will not end well. Got Gold/Silver?

  • muddy 1

    It might have been in this article, but I didn’t see it: Germany has already begun printing Deutchmarks in anticipation of the Euro and Eurozone collapsing.

    Why should Germany be expected to carry Europe in it’s shoulders? Maybe I should say tit.

    Why are US taxpayers, via the FED, expected to prop up foreign banks, and countries? Let them fall as part of the reset.

  • muddy 1

    And another thing, we protected/aided Europe through two World Wars, and a Cold War. Just how much of our wealth has to be transferred abroad before we’re destroyed (without a shot being fired)? I don’t see Russia helping.

  • Matt

    The bailouts will continue until morale improves

  • Larry

    Michael I received an email yesterday with the
    following subject line:

    Lloyd’s of London ABANDONS
    European banks!

    Without warning, Lloyd’s — the world’s oldest insurance market —announced that it has withdrawn its money from European banks.

    The reason? According to Lloyd’s, the banks are in danger of failing as Europe’s debt crisis continues to intensify.

    It is interesting to note that Lloyd’s didn’t just withdraw its money from Greek banks; it withdrew its money from banks all over Europe!

    When the world’s oldest insurance company …

    A firm that for 323 years has made its living by accurately calculating the odds of future disasters …

    When that company suddenly takes its money and runs, it’s a MASSIVE red flag for investors — a clear sign that the beginning of the end is near!

    • Michael

      Thanks for sharing that Larry. Interesting stuff.

  • TucsonKK

    Let them collaspe (should have before),
    We the PEOPLE bailed them out and they thank us with big bonuses for their pockets, job loss, more shaddy deals, stock market manupliation, foreclosures,
    Greedy Crooks hit bottom and maybe you will loose your fortune and join us in the breadline if we let you in.

  • Syrin

    Frankly, the term SHOULD be “Too Big to Bail Out”

  • http://georgesblogforum.wordpress.com/ George Forfa

    This is how taxpayers get the rotten spot of the apple. The bankers take the wealth and run, leaving the trash as they set up camp, elsewhere.

    http://georgesblogforum.wordpress.com/2011/10/05/war-under-heaven-the-world-at-commerce-update-10052011/

  • Rancher

    What are you doing to ensure your life and safety for the times to come? Death insurance (which is today’s life insurance) or real life insurance (preppergroups.com).

    Talk is cheap and so are comments. Only actions will help to save you…..

  • Rancher

    So what are you going to do about all this?

  • jerry O

    When are they going to learn.

    Bailouts only put a band aid on
    the problem and kick the can a
    little further down the road,

    Meanwhile, debt continues to
    mount and taxpayers have to
    foot the bill.

    No one seems to learn from history.

    I discovered a site put together
    by one millionaire that tells
    the whole story about the 7
    stages all economies go through
    and how they eventually crash.

    Those in the know end up with
    massive wealth transfer.

    See his free video at:

    http://theelevationgroup.net/presentation/register.php?a_aid=160667&a_bid=290b868b&chan=y

  • Snoopy-the-economist

    Germany will not leave the EU – if they do then they will be paid back in devalued euros in relation to their deutche marks and they will take a massive loss there

  • Maria

    The banking bailouts are geopolitical events.

    Tremendous geopolitical events are happening, and scientists are warning of great geophysical events that may be near.

    This is a time of great transformation in the world.

    The evil being perpetrated upon humanity through corporations and their governments is suffocating under the increasing scrutiny of a growing tide of humanity.

    The truth is being exposed through this website and others like it.

    Seek the Truth.

    The path of transformation will take us through severe hardship, but we will prevail.

    Great success requires great effort and sacrifice.

    Prepare through prayer.

    God prevails.

    • Maria

      The entire economic system is going up in flames. Many people are suffering and more is coming. It didn’t have to happen this way, but it is too late now. The collapse has to happen in order for the new system to begin. The entire world economy is changing. The question is who will have control? Will it be the people, or will it be the corporations? Or is there another possibility very few are considering?

      Geopolitics is not the only factor in what is happening to the world. Things are happening below the surface of the Earth. Geophysical changes may have a far greater impact on the future of humanity than the world economic collapse.

      Earthquake swarms in the Canary Islands are of major concern. Consider the impact of a mega earthquake or mega tsunami on our east or west coast. http://www.youtube.com/watch?v=3jlaiJRwU6Q

      Maybe we are seeing large government orders of disaster relief supplies, because the government is preparing. Safe drinking water, sanitation and food are essential humanitarian needs. Consider the fact that 600,000 Haiti earthquake victims are STILL living in camps.

      Whether you believe a disaster is approaching from economic collapse or natural disaster, you need to prepare.

      That third possibility I mentioned is God. He may decide to intervene in a big way….soon.

      Because, ultimately He is in control.

      • r.bitting

        Amen.

  • What’s up?

    There is something big coming. Either a one world currency, a new global leader, and or a major war. Riots, terror cells activated inside the United States. It is possible that all these events will occur at the same time and continue for years. I really beleive that these days are the last days. I fight everyday with God on my side to keep as pure and faultless as I can. We could also experience the “catching away.” When God’s church is removed from the world. Can you imagine all the Christians and the influenece of Godly people just leaving one day? The world world belong to Satan for sure then. You think humans can be evil now? Wait until then. Please make a decision for Jesus. Stand with the winner. Many will go down the easy path and fall into Hell. This is it folks-get ready and stay ready.

  • http://theelevationgroup.net/presentation/register.php?a_aid=a6affed9&a_bid=290b868b John Jackson

    Screw the Banks! Don’t just survive this economic crisis, learn how to thrive during it!!! Become a part of the largest transfer of wealth in our lifetime:
    http://theelevationgroup.net/presentation/register.php?a_aid=a6affed9&a_bid=290b868b

  • karen

    Also China has warned the US that if they continue with their actions on claiming the Chins Sea area for there selfish reasons for oil, a massive trade war will commence. This also happened in 1930 called Smoot Hawley Tariff Act and if you do your research you will see during the Great Depression this Act totally destroyed farmers. History always repeats it’s self.

  • karen

    By mid-1930, interest rates had dropped to low levels, but expected deflation and the continuing reluctance of people to borrow meant that consumer spending and investment were depressed.[13] By May 1930, automobile sales had declined to below the levels of 1928. Prices in general began to decline, although wages held steady in 1930; but then a deflationary spiral started in 1931. Conditions were worse in farming areas, where commodity prices plunged, and in mining and logging areas, where unemployment was high and there were few other jobs. The decline in the US economy was the factor that pulled down most other countries at first, then internal weaknesses or strengths in each country made conditions worse or better. Frantic attempts to shore up the economies of individual nations through protectionist policies, such as the 1930 U.S. Smoot–Hawley Tariff Act and retaliatory tariffs in other countries, exacerbated the collapse in global trade. By late 1930, a steady decline in the world economy had set in, which did not reach bottom until 1933.

    Economic indicators

    • Kevin2

      In the 1930s we traded tariff free with nations having a similar standard of living. The lowering of tariffs did not de-industrialize the US in the 1920s early 1930s. The US and rest of the developed world never had such a delta in labor compensation to compete with like they did after the Free Trade agreements enacted since the mid 1990s.

      When a nation enacts policies that creates a trade imbalance that is a 4/1 ratio against itself and in the process gets de-industrialized it screwed up. These is no way to sugar coat it.

  • http://silverdollarcoinvalue.com Silver Dollar Coin Value

    A storm is coming indeed. Protect yourselves buy buying gold and silver and maybe a few guns too.

  • comnenus

    Santander Bank, the biggest bank nobody in America has heard about, is the big whammy. When it fails Spain will want to sink below the Mediterrenean.

    • El Pollo de Oro

      Comnenus: I’ve traveled in España a lot and have friends and business associates in that country. And you’re right: when Banco Santander fails, that will be a biggie. La economia española is already in very bad shape (the worst in Western Europe). The unemployment rate among Spanish youth in the 18-25 age range is a whopping 45%. Que lástima.

  • karen
  • mondobeyondo

    Lehman Brothers sat on a wall, er, throne.
    Lehman Brothers had a great fall.
    All Bernanke’s horses, and all Bernanke’s men
    Couldn’t put Lehman together again.

    They were just the first and biggest. Many more will follow. Bear Stearns (RIP), AIG (RIP), Paribas, Dexia, HBSC, JPMorgan Chase, Bank of America, Bank of England, yada yada.

    The global financial house of cards, built on a foundation of quicksand, is about to go down, in a big way. First the banks, then the countries. They are “too big to fail”. Bail out the big institutions and the medium sized countries, until everybody is broke.

    But NEVER the people. Oh, nooooo. The people never get bailed out. The regular guy or girl who faithfully takes their lunch box to work and punches the time card, and digs through a 7 inch stack of paper in their inbox… they are apparently “too small to prosper”. The everyday Joes and Janes built this country, they busted the sod, conquered the swamps and deserts, turned Kansas into a breadbasket. They are also perfect fodder for being screwed by JPMorgan Chase, Bank of America, Citibank, yada yada. The elites who really run this country and the politicians who support them — all members of the LCS Church (Lie, Cheat, Steal), will ensure that they get every last dime and grain of wheat from the middle class. Oh yeah, and your Social Security, too.

    THAT is why people are protesting on Wall Street.

    • http://lnx-bsp.net/ Tel

      The thing you have to understand about Greece, most of the people want the government to default. They don’t want to be slaves of the banks (not German banks, not French banks and not Greek banks) they don’t want to be slaves of government either. They want to let that house of cards fall down so they can get one with life.

      The Greek government wants to pay the debt… with money from someone else. They have no credibility, but they want to continue as they have always done, spending someone else’s money. No one want’s to give them that money, so it’s a standoff.

  • mondobeyondo

    Simple solution to a rather complex problem: Sell the Acropolis!

    Surely there’s some big-time American investor type person who will buy it, and save this little southern European country from becoming My Enormously Obese Greek Tragedy. Um, no, I was not thinking about Steve Jobs. Maybe Bill Gates? Warren Buffett?

    We’ll just rename it “The FedEx/UPS/Apple Acropolis Ruins, sponsored by the City of Athens”. It worked for the Cotton Bowl and Rose Bowl, right?

    Look out Colisseum, you’re next! How does “The Home Depot-Smithsonian-Fox Sports Colisseum” sound? The Lions get to chip in a few million bucks as well. Yes, THOSE Lions. Green Bay vs. Detroit, Thanksgiving afternoon, from central Rome. Classic!!

    • mondobeyondo

      It should be rather obvious that I try to spin at least a little bit of humor in my posts. Although I have an awful sense of humor *sigh*

      But if you can’t laugh….. you’ll start crying.

      • Highspeed

        You always make me smile at least:)

  • mondobeyondo

    WASHINGTON (CNNMoney) — Bank of America’s CEO defended his bank’s new $5 fee on debit cards on Wednesday, saying that customers and shareholders understand the bank has a “right to make a profit.”

    http://money.cnn.com/2011/10/05/news/economy/bank_of_america_moynihan/index.htm?hpt=hp_t2

    Oh, puh-leeeeeze. I have a right to eat.

    • Gay Veteran

      Fight back against the corrupt Big Banks! Take your money out of them and put it into a credit union or smaller bank.

      WHY isn’t the tea party protesting on Wall Street?!?!?!?

  • Big M

    Europeans never seem to learn. After centuries of killing each other in senseless wars, they actually allowed a bunch of obviously unelected criminals to lead them down the path of a single currency. Anybody with an ounce of brains could have predicted (and did) that this would NEVER work.

    The only reason it lasted as long as it did was through smoke and mirrors accounting and the like, but sooner or later, reality is going to raise its ugly head, and then it’s lights out.

  • Big M

    I forgot to add something. Central banks are not banks. They do not operate in a free market, and they are given powers by crooked governments that other banks are not given.

    What central banks actually are, is gigantic counterfeiting operations. And that is all they are. And the governments that support them don’t like competition.

  • Bobby Joe

    Hm, everyone blames the so called, “system”, Government, people in charge of the bank, and such.
    Did it ever occur to you that, YOU and I ate at the table of they’re PAGAN Gods?? Is it not OUR fault for honoring and serving the god’s of money, power and carnal pleasure?
    “Give me all I can get and heck with anyone else!” Or my least favorite one is.. “I’m gonna get mine!”, is such a common expression I’m almost sick of hearing it.

    The very 1st of the 10 commandments, God said..
    (By the way, when was the last time you even recognised the existence of the Eternal God, creator of all things including You and I),
    GOD commanded “Thou shall have no other gods before me! It was a command not a request….

    So, as we have served so many OTHER Gods, we will be judges accordingly!
    We are in the end if this age, (The age of mans self government). We have utterly failed to learn 2 simple lessons in all of mans history.

    1. Follow God and we will be happy,healthy and successful at all that we do..

    2. Learn by your mistakes, learn by your mistakes, LEARN BY YOUR MISTAKE!

    We are not a simple creation, just simple minded, and simply selfish.

    How did we get here???

    We denied God, our creator. Simple as that! Now here’s what is about to happen.. This is from God and Bible prophecy NOT me..

    The world economy is going to collapse, and then all the horrible things you can imagine and more will take place.
    Governments are already aligning themselves up to take sides and then control of world power. Then world war 3.
    Just as we are about to be annihilated, Jesus Christ returns and destroys any and everyone who is against God… Then Christ sets up a one world government of God…
    Those of us who DO believe and survive, begin to build what will be a TRUE Utopian world/society under the authority of GOD, with Jesus Christ as King… One GOD, one government, one church and ONE RIGHT WAY Of LIFE! Then will the wars end, famine, disease and all the other plagues on the earth will cease.
    People will only then be truly happy, successful and healthy.
    What we witness everyday now is proof. This system we have built is failing. Nothing will or even can stop it.
    Our time to show that we are capable of even a small bit of sound right /logical self/human government is OVER… We failed.

    Utter and complete system failure.
    It’s just a few months away. Everything I’ve said here has already been taking place for 3 yrs at least. We will barely only get started into 2012.. Don’t believe it?? Just look around!

  • Baggy

    NWO and One World Currency have been the dream of elitists and progressives for decades. I can see this happening in the western worlds Big Brother, but not in Asia. More likely to happen is either war between the two and/ or gigantic food riots like Egypt and most current North African/ Middle Eastern uprisings. Either way we lose because there aren’t enough people wise enough to stop it in time.

  • mondobeyondo

    World facing worst financial crisis in history, Bank of England Governor says:

    http://www.telegraph.co.uk/finance/financialcrisis/8812260/World-facing-worst-financial-crisis-in-history-Bank-of-England-Governor-says.html

    Say it isn’t so, Mr. King.

    I was a teenager during the recession of 1981-82. It was not fun, and I wouldn’t wish those times on anyone.

    However…. if you want to know what 1982 was like – you’re living it right now. Minus Blondie, Tears for Fears, and the other music, of course. (Sniff, sniff)

    What’s the solution? What’s the way out of this Mess? Well… how much pain do you want? Because there will be pain. That’s right, I just said it.

    It Will Hurt. There’s no getting around it. It’s what happens when you paint yourself into a corner. Something is gonna have to be cut. Let’s start with Social Security.

    “NOOOOOOOOOOOOOOOOO!!!!”

    Okay. Relax. Let’s cut Medicare instead.

    “NOOOOOOOOOOOOOOOOO!!!!”

    Tough crowd, I see. Okay. Chop the military.

    “NOOOOOOOOOOOOOOOOO!!!!”

    Aw crap. Not much else left. NASA – gone.
    Department of Education – gone.
    Department of Agriculture – gone.
    Department of Health and Welfare – gone.
    (Used to be Health, Education and Welfare, but remember, we just cute Education!)

    We’re still in the financial black hole. What next?

    Oh yes, the military!! You wanna stand in front of a bunch of Marines, and announce that their pay will be cut? I dare any presidential candidate to do just that. They would earn exactly -0.0137 votes.

    Accept it. There is no way around it.

    • http://lnx-bsp.net/ Tel

      Ahhh c’mon, I lived through the 80’s and it wasn’t all that bad.

      • mondobeyondo

        Maybe not for you, but it sure was bad for a lot of us.

  • Lennie Pike

    The Federal Reserve.

  • SidM

    The word for this is Contagion and the Atlantic Ocean is not a defense line.

  • adriatic

    i just searched Lloyd’s website (the official one – i always try to go to the source – rumor doesn’t do well with me) and found nothing that related to withdrawal of funding from European banks…did i miss something?

    • Jendish

      I just read it on the Wall Street Journal website and there was also a google link for Bloomberg

    • Larry

      Adriatic I am glad you checked further. I received the email newsletter from:

      Weiss Research, Inc.

      ************************************

      I am not sure if Weiss Research is completely honest or not.

      I am also not too sure if Lloyd’s would put that information on their web site.

  • Brian Wark in Australia

    Reading through many of the posted comments, I did not see any particular refrence to the billions squandered in Europe on futile projects related to climate change (or global bloody warmings, as it was called), surely these lost fortunes are a major contributor to the EU’s current economic malaise, or more accurately – meltdown. As Australia gets ready to legislate an insidious “carbon tax” next week and mindlessly further embrace “renewable (green) energy” projects, such as solar and wind turbines, I would like to see some comments from those who feel the same way as I do about the myth of climate change and the subsequent economic vandalism it has already caused across Europe. Thanks, I would appreciate it.

    • Darren H

      Good point. What of all these billions that have been squandered in an effort to control the climate – something that we never have had control over, well except maybe for the Chinese.

      At any rate, climate change is based on speculation not scientific method.

      Unfortunately we the people, at least those that believe whatever their told, have accepted this as fact.

      People think about this – the weather can hardly be accurately predicted for 48 hours how are we supposed to put faith in models that suggest what the earth will be like a hundred years from now? Seriously it’s an insult to everyone’s intelligence.

      All the major nations are facing economic crises yet some insist we need to forge ahead with the climate legislation – Europe with it’s multiple projects, Australia with it’s ill conceived carbon tax, and the US with it’s Solyndra scheme – it’s ludicrous and simply should not be done.

  • John Warner

    False flag Tuesday 10/11/11??

    NWO wants to stop these “End the Fed protests” ASAP! They implement martial law before the collapse!

  • http://lnx-bsp.net/ Tel

    It’s come to the point where we must accept that big government and big banks are one and the same. The banks work for the government, and the government works for the banks.

    • Darren H

      Not quite. The Federal Reserve Act of 1913 created an non-government entity known as the Fed.

      The Fed is nothing short of a private bank charged with the responsibilities that up until it’s creation had belonged to Congress.

      The first paragraph of the proposed legislation about covers it –

      An Act To provide for the establishment of Federal reserve banks, to furnish an elastic currency, to afford means of rediscounting commercial paper, to establish a more effective supervision of banking in the United States, and for other purposes.

      Huh? Wonder what those purposes where? I think we are seeing the fallout from that now.

      The crash of 1929 was just a test run. The banks control our government.

      “Give me control over a nations currency, and I care not who makes its laws.”
      Baron M.A. Rothschild

      The Rothschilds are 1 of 10 families that control the world’s banking system.

      http://current.com/news-and-politics/89793961_give-me-control-over-a-nations-currency-and-i-care-not-who-makes-its-laws.htm

  • Ronnie

    Corporate greed and SOCIAL GREED. Ie sit down money. Don’t want to work go on a pension. Hand out’s the social disease call welfare. I AM A VICTIM GIVE ME A FREE RIDE.
    Then the corporate aristocracy stealing the wealth of the state.
    A violent clean out will occur, then a return to family values, hard work and community respect. With no free rides and no corporate greed and theft.

  • Oscar

    Sooner or later it will come a world economic collapse. Get ready!

  • mondobeyondo

    Plutocracy belongs on Pluto. Not on Earth.

  • Tappedops

    Scortched earth policy…

    Command and control…

    Full spectom dominance…

    90 plus years of training….

    In the black trunks…

    Theee Neeewwww Word Orrrrrderrrrr

    And in the white trunks…

  • John

    Get long EUO right now!!!

  • Gonzalo

    You are using government inflation statistics. However, the government understate the rate of inflation by about three percent. Anyone who was around in 1980, like me, knows that the average cost of goods and services today is about five times what it was in 1980; not about three times. And that the cost of goods and services have nearly double since the year 2000; not gone up by slightly more than 30%.

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