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Eurogeddon Postponed Termporarily Due To Financal Conjuring Tricks
by John de Roe.
2011-08-12
The Daily Stirrer brings you opinion and comment on issues in the news that are likely to affect the lives of ordinary people. We therefore focus on economic matters, prices and inflation, jobs and unemployment, health, diet, education and social comment. Our contributors are old gits who are prepared to say what everybody is thinking.
Below our finance expert John de Roe analyses the latest bureaucratic scam that claims to have saved the European single currency but in reality is only another attempt to scam German taxpayers.

Eurogeddon Postponed Termporarily Due To Financal Conjuring Tricks

by John de Roe
12 August 2011

Euroggedon has been temporarily averted again. Jean-Claude Trichet, head of the European Central Bank (ECB) has arrived Superman - like in the nick of time to save the world. There will not be a bond crisis spiralling out of control in Italy and Spain in early August after all. An imminent meltdown of Europe’s financial system has been averted. Until September.

At first glance this looks good but not great. Ultimately European bureaucrats and central banker will have to face up to the fact that the Euro (the European Single Currency) can only be saved by engineering the departure from the community of nations that make up the Eurozone. A German exit from EMU would halt the debt-deflation spiral in PIIGS countries (Portugal, Ireland, Italy, Greece, Spain,) and clear the way for economic recovery to get under way.

Saying that is easy of course, getting it done is a tad more difficult. Unless the ECB is willing to embrace its new role as lender-of-last-resort by making massive purchases of dodgy looking Italian and Spanish debt, it will inevitably be tested in the financial markets. Weaker investors will use temporary rallies to offload holdings onto the ECB, i.e. onto eurozone taxpayers. Frankfurt will find itself underwater very quickly without a legal mandate or EU treaty authority.

Royal Bank of Scotland calculates that the ECB will have to buy roughly half the outstanding negotiable debt of the two countries to defend the single currency. RBS calculates €850bn. I would put it nearer €1 trillion. Unfortunately The ECB does not have any money and is acting as a temporary back-stop until the revamped EFSF bail-out fund is ratified by all parliaments over coming months.

Again that looks simple until we remember the EFSF has no money either. The parliaments of Eurozone nations have not even ratified the earlier boost to €440bn. As of today, the fund has barely €80bn left after all the commitments to Greece, Ireland, and Portugal. The rescue plan is more a fantasy novel than a plan.

As for boosting the fund further to €2 trillion or more – as suggested by Citigroup, RBS, and the European Parliament – we face a little local difficulty across the Rhine,France currently being in trouble itself, Austria being a no no because of the Micawberish eccentricities of local economics, Holland becoming more sceptical about the single currency by the day and Finland and Luxembourg the last of the Eurozone's solvent nations being tiny. With Germany the only nation capable and willing to bail out the Euro yet again, the provincial government of Bavaria, the Social Christians said they will not back one bent Pfennig for extra bail-outs, and the Angela Merkel's coalition partners in the Federal government, the FDP Free Democrats are almost of the same mood. Angela Merkel’s own Christian Democrat Union base grows more restless with every new economic problem that is announced. In any case, such an expansion of the EFSF would set off its own chain-reaction as France and then Germany lost their AAAs and plunged into the debt spiral abyss.

So, obviously markets will turn very nervous once ECB purchases approach the level that corresponds to the EFSF ceiling. They know that the ECB’s German members will fall on their swords rather than cross that line, taking the bond risk directly onto the ECB’s own balance sheet. Falling on swords could commence by the beginning of September as interest payments, become due and another trance of debt has to be refinanced. Gary Jenkins from Evolution Securities has noted that Greek yields fell from 12.43pc to 7.35pc in the week following the ECB’s first bond purchases, only to fly out of control six weeks later.

Whether buying time can solve anything depends on whether investors believe that Italy and Spain can grow their economies sufficiently quickly to break out of the debt traps they find themselves in. If we were on the cusp of a new global boom, then Italy and Spain can make it within EMU’s current structure but all the economic indicators suggest we are heading for another global recession..

If we do go into a global double-dip (defined as global growth below 2.5pc), they have no chance at all unless the ECB throws all caution to the wind, defenestrates the two German members from the top floor of the Eurotower, and embarks on a programme of Quantitative Easing that will have us all taking a wheelbarrow load of cash to buy a box of matches..

Germany might not like that prospect so despite all the talk from Bureaucrats and politicians, nothing whatsoever has been resolved by the latest plan to save the world..

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In this era of high tech health care and rapidly advancing developments of drug therapy, sudden infant death syndrome (cot death) is a rare thing in the developed world, around one per hundred according to World Health Organisation statistics. Given that, you might think the sudden and simultaneous deaths of twins might cause somne raised eyebrows among medical professionals ...

PARIS ERUPTS: Many streets are NO-GO ZONES As Immigrant Violence Spreads
Five large areas have been reduced to no go areas for the past five nights as masked men cause mayhem on the streets. Now there are fears the fall out from allegations of police brutality could spread all over the country as unrest in the city grows. Police were hit with molotov cocktails and the heavy metal balls used in the French game Petanque ...

J.K. Rowling Goes Silent After Getting Challenged To Put Her Money Where Her Mouth Is
JK Rowling, who wrote 7 great books for kids (and an absolutely shit one for grown ups) has become one of those annoying celebrities who thinks we all need to hear regularly from her on the topic of how to live our lives. she sees no reason why a superior being such as her should abide by the advice she dishes out to the rest of us.

Corruption: Paraphrasing Johnny Rotten, 'Never trust a fahkin' liberal'
As the 'liberal supporters of Barack Obama's hapless presidency and more recently the US Democratic Party's 2016 failed candidate 'Crooked Hillary' Clinton whip themselves into an ever greater frenzy over the hugely entertaining antic of President Trump, An editorial at Investors Business Daily may end up being considered by historians as defining exactly why the Obama administration failed so catastrophically ...

Is a Global Wide Cash Ban Coming?

Anyone who has been paying attention over the last four years knows the Europe is ground zero for Central Planning insanity. Europe was created as a union with open borders with the open flow of capital. However, the elites have clearly demonstrated that they are willing to lie cheat and steal in order to maintain their agenda.

Trump Foiled Soros' Master Plan to Impose New World Order - Hedge Fund Manager
President Donald Trump came to power just in time to prevent George Soros and Hillary Clinton achieving a secret Trans Pacific trade deal, that would have transferred sovereign rights to global corporations Wall Street hedge fund manager and financial analyst Mitch Feierstein told Sputnik. George Soros and Clinton Inc. were nearly able to declare the ‘New World Order’ complete" hedge fund manager Feierstein, said on Tuesday.

TIME Magazine runs vile hit piece against Robert Kennedy Jr. for daring to tell the truth about mercury in vaccines
When newly inagurated President Donald Trump appointed Robert Kennedy, Jr. to head a commission to investigate and report on vaccine safety, it was inevitable the Big Pharma Corporations, the big money interest behind them, and their 'pet poodle' scientists would hit back and try to undermine the initiative. That it would happen so quickly, with higly respected fake news publication Time magazine lining up its biggest hitters to smear Kennedy's reputation

The War On Cash Intensifies In Response To Trump and Brexit
It appears Europe is charging towards a cashless society. Just days after Davos’ elites discussed why the world needs to “get rid of currency,” the European Commission has introduced a proposal enforcing “restrictions on payments in cash.” – because only terrorists and drug-dealers need cash (nothing at all to do with totalitarian control over a nation’s wealth) – we are not surprised that this proposal from the European Commission would appear…

French Finance Minister Says UK’s May Is Not In A Position To Negotiate With Trump You have to wonder just who the testicularly deficient little pen pusher of the failing EuroNazi project think they are. What do they not understand about Brexit that enables them to think they can still tell us what we can and can’t do? They may have got away with it while cottaging Prime Minister Blair or Old Etonian bum boy Cameron were in charge ...

Obama’s Gone, But His Genocidal Wars Go On
Continued fighting in Yemen between Houthi rebels seeking to overthrow the tyrannical Sunni Muslim government and ground and air forces of the SSaudi Arabian led coalition backed by the Obama administration in the USA killed at least 66 people in 24 hours, medics and security sources said on Sunday.
More Obama war

Inauguration crowd size lies: The Hypocrisy Of Mainstream Media Is Infinite When They Can Publish Shite Like This


Trump and liberals exchange insults over wether the inauguration audience for Trump was bigger than Obama's or not. It's hard to know which side is lying, probably both of them.
Liberal hypocrisy

‘Integrate or Leave’: As Wilders Surges in Polls Dutch PM Ramps Up Migrant Rhetoric


Just one day after polls which gave Geert Wilders’s insurgent populist party a nine-point lead on the ruling conservatives, Prime Minister Rutte took out a full page advert and spoke in an interview with Dutch daily Algemeen Dagblad to tell migrants they should integrate or leave, and to issue a call for a return to “common decency”.

Soros Is Responsible for Europe's Immigration Crisis Says Hungary's Viktor Orban
With Britain's Conservative Government pressing ahead with a 'hard Brexit agenda, and the Trump administration setting abou demolishing the expressway to socialism Barack Obama had spent eight years contruction, there is a lot of speculation and precious little hard evidence to indicate where the globalist elite, having seen their ambition for a world government thwarted will go next.
More Soros mischief

Post Trump and Brexit, Predicting The Globalists Next Move
Hungary's Prime Minister Viktor Orbán has made the American billionaire and philanthropist George Soros for the current refugee movements in Europe with responsibility. "This invasion (of migrants) on the one hand steered from the tractor business, on the other hand of those (human) activists who support everything that the nation-states weakens,
Globalisation index

The role of cosmic electric currents in earth’s climate
If you’ve been following the growth of the Electric Universe movement, you know that this growth is due largely to the power of a new paradigm to explain things left unexplained by conventional theory. The greatest surprises of the space age are not surprises to researchers exploring the role of the electric force across the cosmos. Nor is it surprising to see the electric force at work close to home, both in the sculpting of planetary surfaces and in the evolution of life on earth ...

The Reality Of Globalism - World Trade Has Increased By Less Than 1% Annually In The Last Decade
There can be little doubt that 2016 was the year the great pushback against globalisation and the push towards an authoritarian world government (NWO) really got off the ground. Fears that the world is on the edge of rejecting globalization and a global economy, with its false promise of prosperity for all and its reality of an ever widening gap between rich and poor have dominated ...

World Bank Aims to Hand Over Seed Industry to Agribusiness
Today Donald Trump will be inaugurated as 45h President of The United States, his victory in the November election having been a major setback to those dark forces that give the impression only one more big push was needed to drive the world into accepting a global authoritarian government. Trump's victory, combined with 'Brexit' the vote by British citizens to leave the EU, combined to make 2026 a bad year for the globalists.

The Left In Meltdown
As the UK Labour Party crumbles into complete disarray with it’s leader, the sixty – eight year old perpetual student protestor Jeremy Corbyn proving a more divisive figure than any of his predecessors, as he sacrifices more and more votes on the altar of fashionable causes, and the EU, natural successor to Hitler’s European unification project falls apart in the face of resurgent cultural nationalism, it is quite satisfying to see ...

Fake News and fake Fake News
The buzz phrase this past month has been ‘Fake News’ as over in the USA the Donald Trump camp have had to swat away repeated attempts to smear and the discredit the victor in the 2016 Presidential Election and supporters of Barack Obama and Hillary Clinton, unable to accept their team lost because people rejected perpetual war and ...

Obama Has been An Inspirational President?Well He Probably Inspired More Suicides Than Any Other Obama’s greatest achievement perhaps it to have put Donald Trump in The White House. Whether you think this is a good or bad thing depends on your political stance. This blog is neutral, our view being that Trump can’t be a worse president than any of the three that preceded him.

Over 4000 Civilians Have Died In Forgotten War.
As attention has focused on Syria ans then on the efforts of the Obama administration, in its dying months, to avenge the defeat of the anointed successor Hillary Clinton and discredit the election victor and President - elect Donald Trump, and simultaneously demonize Russia and President Putin

NEW CHAINS FOR OLD
The problem with losing your chains is knowing what to do when you are free to act without them. The answer most people choose should not really be all that surprising.

Former UK Ambassador Says Obama's 'Russian Hacking' Claims Are Bullshit
Former UK ambassador to Uzbekistan, Craig Murray, who has always publicly opposed the demonization of Russia by United States and European Union official propaganda and has in the past collaborated with WikiLeaks editor Julian Assange to expose western propaganda as being aimed at persuading voters war with Russia and China,is justified has dismissed the CIA's claims that Russia interfered in last month’s presidential election as "bullshit"

An Item In Todays News About US Gov't Internet Security Hack has Tipped Our Editor Over The Edge
The US election was on November 8, by November 12 it should have gone away, but the Democrats, proven crooks and liars who crookedly rigged their own selection process to cheat a man who could have beaten Trump out of the nomination and ensure their candidate was the traitor, war criminal, liar, AND head of the Clinton Crime Syndicate Hillary Clinton as their candidate.

Democrats Russia Hacked Us and Failed Recount Campaign is Political Suicide. The US Democratic Party’s inability to accept that they lost the Presidency to Donald Trump is turning into a slow polictical sucicide. The party that has always been quick to scream ‘conspiracy theorist’ to discredit critics of its dealings with oversreas governments and foreign billionaires like Soros has revealed in its efforts to overturn the result by claimING that Russian hacking influenced voters in favour of Trump.

Oxford University wants to turn English into a sterilized Orwellian language
Oxford University, one of the oldest universities in the world and, one might think, the 'home' of the English language is now, it seems, engaged in a New World Order campaign to destroy the English Language. It appears the finest young minds in society are so deeply offended by words that remind them men and women are biologically they, backed by their fuckwitted Marxist lecturers and professors, are demanding gender specific pronouns be abolished.

I Was Right - Gravilty Does Not Exist

Well OK, saying gravity does not exist is a bit of an oversimplification, but there is strong evidence Isaac Newton's theory of what makes things fall to the ground, which does not attempt to explain how gravity makes things fall, but only states gravity is a natural force, really misunderstood what was going on.

France Falling Apart As The World Looks On
France will elect a new president in May 2017. Politicians are already campaigning and debating about deficits, welfare recipients, GDP growth, and so on, but they look like puppets disconnected from the real country. Violence. It is spreading. Not just terrorist attacks; pure gang violence. The media does not dare to say that this violence is coming mainly from Muslim gangs

The Internet Purge Of Politically Incorrect (aka truthful) Content Begins
Facebook, Google (owners of YouTube) and Microsoft have long been known as CIA collaborators and it has been acknowledged that Obama's move in divesting the US government of responsibility for ICANN allows The White House to make outraged noises about suppression of free speech while using Search Engine Operators as proxies to shut down anything challinging US and NATO propaganda (on the grounds no doubt that challenging the politically correct orthodoxy constitutes hate speech.)

UK Education: Ofsted, Not The Government, Is Blighting Poor Pupils’ Chances
Experienced teacher say it is possible to teach effectively with that kind of a workload and although such working hours are common in business and commerce, people in those sectors do not have to deal with stupid, snotty nosed, hormonally hyperactive adolescents.

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