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DIVISIONS IN THE EUROZONE OVER ECB BOND-BUYING

From The Telegraph (UK)…ECB largess not infinite.

DIVISIONS IN THE EUROZONE OVER ECB BOND-BUYING

The eurozone was facing fresh splits today after one of the European Central Bank’s most senior figures said the bank should not be used to fund national debts and that if it was forced to, it would mean the end of the single currency.

17 DEC 2011

“In the interview [Juergen Stark] said: ‘It is the fundamental arrangement of this [...]

100 lawmakers to debt panel: Consider all options

100 lawmakers to debt panel: Consider all options

Tax Evaders Face Greater Scrutiny as National Debts Pile Up

 

Martin A. Armstrong: ‘I think we are headed into—going into the end of 2015—another big, I think, economic crisis. when the sovereign debt crisis comes to a head’; The entire global monetary system needs to be revised

financialsense.com

Let’s talk about maybe one of the reasons why QE2 failed. In your view, will they announce another QE3 or QE4 as some on Wall Street anticipate if the economy weakens?

Well, unfortunately, they feel they have to do something. But in all honestly, as I think they do realize, they can’t stop it because we are in a global economy. I mean, you take the QE2 idea, then okay, [...]

Dollar’s Decline Speeds Up adn Gold And Silver Continue To Surge

From CNBC:

Weakness in the US dollar, which is causing everything to go up—including gas prices, food and stocks—is unlikely to go away soon as a selling frenzy hits the currency market.

CNBC.com

The greenback is approaching pre-financial crisis lows and threatening to smash through its all-time low when measured against the world’s predominant national currencies.

A combination of factors accounts for the weakness, with the Federal [...]

Economies around the world are sliding in the Second Great Depression.

by LFM

Much of what have propped things up for the last 2 years is being withdrawn as austerity starts to bite. In tech innovation a lot of competition is also starting amongst manufacturers and such leading innovators as Apple ma y well be hard up as a combination of competition lowers higher price mark-ups, something they have had the luxury of being able to do, [...]

Austerity Measures + Stimulus Cut-Off + Inflation + Debt Reduction Mode = Dead Consumer Spending

by LFM

Much spending in many countries around the world has been based on artificial stimulus from governments spending, often with private companies, but that is a casualty in many countries right now, so this will impact around the world. Spending has been with borrowed money, at the same time as bailing out banksters and quantitative easing experiments, all multiplying national debts. Now many countries [...]

The reason so many people are buying gold, is that the dollar appears poised for a devastating crisis.

by danmack

The American dollar has a number of negatives that could become issues very quickly under certain circumstances.

First, we have perhaps the largest deficit of any nation in the history of the world. Our current debts may be in line with many other national debts in comparison with GDP, but our budgetary commitments will only escalate and multiply with the aging of baby boomers drawing on social security and [...]

Is there still sufficient time for American patriots sharpen their economic and constitutional wits?

President Obama’s nomination of Elena Kagan to the U.S. Supreme Court is, essentially, the same type of governing act as the EU decision to bail out European banks vulnerable to the Greek crisis. In both instances political leadership serves the interests of financial elites – plutocracy advancing while veiled by supposedly democratic institutions. In both cases the power of government grows as it defends the critical interests of financial policy [...]