Eurozone will collapse... - Page 7

devilincarnate · 10-08-2011, 19:38

Looks like it it is getting closer to home?

Quote:

European and US stock markets have suffered more large falls, led by steep declines in banking shares.

In nervous trading, the focus turned to France, where the French government denied it would follow the US and lose its top-grade AAA credit rating.

Societe Generale bank, whose shares fell up to 20%, was also forced to deny it was under financial pressure.

http://www.bbc.co.uk/news/business-14472079

Osem · 20-09-2011, 10:29

Well it hasn't gone away yet....

http://www.bbc.co.uk/news/business-14981718

Quote:

Italy has had the rating of its creditworthiness cut, the latest move in the European debt crisis.

http://www.bbc.co.uk/news/business-14968090

Quote:

World share markets have fallen, and oil and the euro are also down, on fresh worries about a Greek default.

Has anyone in Euroland got their head out of the sand?

**Chris** · 20-09-2011, 10:49

Every time I see this thread title, I just think

The Eurozone will collapse...
The Pandorica will open...
Silence will fall...

---------- Post added at 10:49 ---------- Previous post was at 10:47 ----------

On topic, the BBC News website is using a superb picture of Silvo as the still on top of its video clip for this news item. He's sitting on a gilded, velvet-lined throne that makes him look like a Godfather.

denphone · 22-10-2011, 12:45

UK Chancellor George Osborne has said the eurozone debt crisis is a "real danger" to all of Europe as he arrived for a summit in Brussels.

Quote:

"The crisis of the eurozone is a real danger to all of Europe's economies, including Britain."

Quote:

BBC business editor Robert Peston said that new forecasts from the bailout lenders - the so-called "troika" - showed that the current plan to revive the Greek economy had failed.

http://www.bbc.co.uk/news/business-15414168

Dai · 22-10-2011, 12:52

Every western economy seems to be borrowing money hand over fist. But where does that money come from?

Can anyone point me to a simple explanation of this system as it seems to me as a financial innocent that there must be a magic money tree somewhere.

denphone · 22-10-2011, 12:57

Quote:

Originally Posted by DaiNasty

Every western economy seems to be borrowing money hand over fist. But where does that money come from?

Can anyone point me to a simple explanation of this system as it seems to me as a financial innocent that there must be a magic money tree somewhere.

Somehow l don't see a magic money tree coming to the rescue here.

Kingofthedead4 · 22-10-2011, 12:59

If there was a magic money tree, the council would have cut it down by now to make room for a new house.

**Chris** · 22-10-2011, 13:04

Quote:

Originally Posted by DaiNasty

Every western economy seems to be borrowing money hand over fist. But where does that money come from?

Can anyone point me to a simple explanation of this system as it seems to me as a financial innocent that there must be a magic money tree somewhere.

Somebody posted a link to an excellent documentary a month or so ago. I just can't remember who it was, what site the video was on, or which thread they posted in.

It is just over an hour long and explains how the system works, and how it began to be the way it is (basically why banks are allowed to invent money and lend it to us, legally, whereas we can't buy a printing press and invent our own money without going to jail).

If anyone else remembers where this video is to be found, please post - I still need to watch the last 10 minutes or so. Wish I could remember!

chris9991 · 22-10-2011, 13:18

Was that the money as debt video(s)?

22-10-2011, 13:23

All they need is one quick phone call to debtmatters and within minutes they'll be out of the red and into the black.

Anonymouse · 22-10-2011, 13:31

Quote:

Originally Posted by denphone

Europe cries out for leadership and courage

No change there, then!

budwieser · 22-10-2011, 14:18

Quote:

Originally Posted by Kingofthedead4

If there was a magic money tree, the council would have cut it down by now to make room for a new house.

No mate, They`re not building any new houses.!

**Chris** · 22-10-2011, 15:26

Quote:

Originally Posted by chris9991

Was that the money as debt video(s)?

Yes, I think so. I'd really like to find that again, actually...

---------- Post added at 15:26 ---------- Previous post was at 15:23 ----------

Yes, just searched Yutube and it's there. Looks like its in several bits - there's one that looks like it runs for 45 minutes but the site I originally viewed it on ran for more than an hour. There are other uploads that have split it into multiple parts of about 10 minutes each.

chris9991 · 22-10-2011, 15:35

Google video has it here -
http://video.google.com/videoplay?do...56453790090544

Certainly opened my eyes when I saw it a few years ago

Dai · 22-10-2011, 16:11

Thanks Chris, grabbing that now. Hopefully that will answer a few questions for me. At the moment it does feel like the system just magics money out of thin air and I'm hoping I can understand it better.

Mind you, that'll probably leave me feeling even worse about our current financial situation..