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Old 11-06-2008, 01:19 AM   #1
Merlyn
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Default Governments not trying to save the System

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This article has an interesting quote from a banking expert
in - Australia "Governments are not really trying to save the system anymore,
They now realize that's impossible. They are just trying to manage the decline
."


Quote:
A credit crater too big to fill?

As the movement of money across borders comes to a grinding halt, governments can only manage the decline. Don't be surprised to see markets roll back to 1995 levels -- or lower.

By Jon Markman

Despite a weeklong surge in stocks, it's becoming increasingly clear that credit has suffered a catastrophic setback.

It's as if a set of asteroids hit Manhattan, London and Tokyo, carving a massive hole in the architecture of finance. The initial buildings in the impact crater, Lehman Bros. (LEHMQ, news, msgs), Bear Stearns and Northern Rock, were quickly incinerated. But now the toxic rain and tsunamis that were kicked up are rolling onto the survivors in waves and cutting off their air supply.

New data from world money centers suggest the movement of money around the globe has simply ground to a halt, as institutions in the United States, Europe and Asia that are receiving taxpayer dollars from governments are socking it away to shore up their balance sheets, reserve against liabilities expected in the near future and sustain their unprofitable operations.

"Governments are not really trying to save the system anymore," said Satyajit Das, a banking expert in Sydney, Australia. "They now realize that's impossible. They are just trying to manage the decline."

Rest of the article at:

http://articles.moneycentral.msn.com...g-to-fill.aspx

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Old 11-06-2008, 02:19 AM   #2
Rocky_Shorz
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Default Re: Governments not trying to save the System

we are a week away from the big financial meeting, has anyone heard any whispers of what is coming?
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Old 11-06-2008, 07:10 AM   #3
Knightbk
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Default Re: Governments not trying to save the System

Quote:
Originally Posted by Rocky_Shorz View Post
we are a week away from the big financial meeting, has anyone heard any whispers of what is coming?
A multiyear recession and much scaling back and unemployment probably in the 10-15% range for the US and the rest of the world is my guess.

I think 3-6 years of tough economics will be the norm.

However, some long term good will come out of this. It wont be the end, but it will force people to begin to live within their needs again.

Shrug. Thats life. **** happens, we deal with it and move on. Things always go in cycles. You cant have "good times" forever.
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Old 11-06-2008, 08:18 AM   #4
isotelesis
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Cool Re: Governments not trying to save the System

Inflation.
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Old 11-06-2008, 08:33 AM   #5
Robski
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Default Re: Governments not trying to save the System

This recession which inevitably will lead to a depression will see people with less having less to give up and those with more (the afluent bunch) will have to give up a lot more and begin to understand to live amongst society as it were intended.

There's room for everyone to share the fire!
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Old 11-06-2008, 04:12 PM   #6
Zarathustra
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Default Re: Governments not trying to save the System

Quote:
Originally Posted by Rocky_Shorz View Post
we are a week away from the big financial meeting, has anyone heard any whispers of what is coming?
The essence and purpose of the meeting will be the utter revocation of Bretton Woods. It will likely take months for a conclusion but the removal of the u.s. dollar as the world reserve currency will spell the end of the "American" lifestyle. While this is a good thing from a certain prospective, as America has lived well beyond its means for a long time now, it will be very painful, perhaps on a scale never seen before. The rest of the world, specifically China, Japan, Saudis, and Russia, are finished financing our nation. The pain that our corrupt government and financial system is inflicting upon them currently is simply the "straw that broke the creditors' backs".

The likely response from our government will be military muscle flexing to 1)distract its population from economic downfall, and 2)attempt to bully everyone else from abandoning the dollar.

Americans must prepare themselves for a post dollar existence.
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Old 11-06-2008, 05:30 PM   #7
Rocky_Shorz
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Default Re: Governments not trying to save the System

Well the dollar will still exist, it will just be backed with more than air.

Many people wonder why America stands beside Israel in the mid east turmoil, but very few understand why.

Get a Dollar handy before reading on...

Quote:
Who was Hayim Solomon?
Quote:
On the rear of the One Dollar bill, you will see two circles. Together, they comprise the Great Seal of the United States .

The First Continental Congress requested that Benjamin Franklin and a group of men come up with a Seal. It took them four years to accomplish this task and another two years to get it approved.

If you look at the left-hand circle, you will see a Pyramid.

Notice the face is lighted, and the western side is dark. This country was just beginning. We had not begun to explore the west or decided what we could do for Western Civilization. The Pyramid is uncapped, again signifying that we were not even close to being finished. Inside the capstone you have the all-seeing eye, an ancient symbol for divinity. It was Franklin 's belief that one man couldn't do it alone, but a group of men, with the help of God, could do anything.

'IN GOD WE TRUST' is on this currency.

The Latin above the pyramid, ANNUIT COEPTIS, means, 'God has favored our undertaking.' The Latin below the pyramid, NOVUS ORDO SECLORUM, means, 'a new order has begun.' At the base of the pyramid is the Roman Numeral for 1776. (MDCCLXXVI)

If you look at the right-hand circle, and check it carefully, you will learn that it is on every National Cemetery in the United States It is also on the Parade of Flags Walkway at the Bushnell, Florida National Cemetery , and is the centerpiece of most hero's monuments. Slightly modified, it is the seal of the President of the United States , and it is always visible whenever he speaks, yet very few people know what the symbols mean.

The Bald Eagle was selected as a symbol for victory for two reasons: First, he is not afraid of a storm; he is strong, and he is smart enough to soar above it. Secondly, he wears no material crown. We had just broken from the King of England Also, notice the shield is unsupported. This country can now stand on its own. At the top of that shield you have a white bar signifying congress, a unifying factor. We were coming together as one nation. In the Eagle's beak you will read, ' E PLURIBUS UNUM' meaning,'one from many.'

Above the Eagle, you have the thirteen stars, representing the thirteen original colonies, and any clouds of misunderstanding rolling away. Again, we were coming together as one.

Notice what the Eagle holds in his talons. He holds an olive branch and arrows. This country wants peace, but we will never be afraid to fight to preserve peace. The Eagle always wants to face the olive branch, but in time of war, his gaze turns toward the arrows.

They say that the number 13 is an unlucky number.
This is almost a worldwide belief. You will usually never see a room numbered 13, or any hotels or motels with a 13th floor. But think about this:

13 original colonies,
13 signers of the Declaration of Independence,
13 stripes on our flag,
13 steps on the Pyramid,
13 letters in, 'Annuit Coeptis,'
13 letters in 'E Pluribus Unum,'
13 stars above the Eagle,
13 bars on that shield,
13 leaves on the olive branch,
13 fruits, and if you look closely,
13 arrows.

And finally, if you notice the arrangement of the 13 stars in the right-hand circle you will see that they are arranged as a Star of David. This was ordered by George Washington who, when he asked Hayim Solomon, a wealthy Philadelphia Jew, what he would like as a personal reward for his services to the Continental Army, Solomon said he wanted nothing for himself but that he would like something for his people. The Star of David was the result. Few people know that it was Solomon who saved the Army through his financial contributions b ut died a pauper.

I always ask people, 'Why don't you know this?' Your children don't know this, and their history teachers don't know this. Too many veterans have given up too much to ever let the meaning fade. Many veterans remember coming home to an America that didn't care. Too many veterans never came home at all.

author unknown...
So you see if it wasn't for Hayim Solomon, America wouldn't have been able to stand up against England...
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Old 11-06-2008, 05:55 PM   #8
Zarathustra
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Default Re: Governments not trying to save the System

R,

I agree that the dollar most likely will be a part of the proposed "new world order of finance", but as it practically affects the u.s. citizen, it will be in name only, because 1)it will be greatly devalued, and 2)its status as world reserve currency will be eradicated. If that happens the dollar will likely have the purchasing power of the Mexican peso. I don't think it impossible that the dollar will be eradicated altogether and converted into another currency, ala the European conversion to the Euro, but I agree that it is more likely that it will remain, at least for the foreseeable future. Everyone should keep in mind one principle of money, which of course you and most others that post here aware of - the amount of a currency is irrelevant, it's purchasing power is everything. You only have to survey the thousands of billionaires in Zimbabwe to understand that. The u.s. dollar is headed to oblivion one way or another. That is what I meant by a "post dollar existence", much like we live in a "post confederate note" America. They exist, but they are worthless as a medium of exchange.

Z
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Old 11-06-2008, 07:07 PM   #9
Rocky_Shorz
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Default Re: Governments not trying to save the System

are we at war with Pakistan?
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Old 11-06-2008, 07:08 PM   #10
Zarathustra
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Default Re: Governments not trying to save the System

Quote:
Originally Posted by Rocky_Shorz View Post
are we at war with Pakistan?
I would draw a parallel between our relationship with Pakistan today and our relationship with Cambodia during the Vietnam conflict. In other words, it's a matter of semantics
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