The banking industry has fucked Spain up to the point it needs 125b to stay afloat

NoDrama

Well-Known Member
The bond holders MUST BE PAID. Think they give a shit if some country and all its inhabitants have to eat shit for 5 years? They won't shed one tear for bulldozers pushing bodies into shallow graves. They only cry if they weren't able to earn 23% on a 20 to 1 leveraged bet.
 

Capt. Stickyfingers

Well-Known Member
Bush is the mastermind behind all the world's evils but can't find his own ass with both hands.
All with two nostrils full of coke. Watch him move his jaw back and forth. Bush did some lines before attending this fine event. Start watching at 13:00

[video=youtube;GD3IodWyGME]http://www.youtube.com/watch?v=GD3IodWyGME&hd=1[/video]
 

Illegal Smile

Well-Known Member
This thread has gotten off track. Back to topic:

If it weren't for all the excess social spending, the banks never would have been involved in the first place. This is the pattern - these countries allow unions to get the upper hand, then th4ey begin spending money they don't have giving away higher and higher pay and more and more benefits. And they do that over years and eventually, it comes back to bite them in the ass. Then the union socialists who caused it all try to sell the line that it is somehow the banks who have helped them to stay afloat this time that are the villains. LOL
 

Fungus Gnat

Well-Known Member
This thread has gotten off track. Back to topic:

If it weren't for all the excess social spending, the banks never would have been involved in the first place. This is the pattern - these countries allow unions to get the upper hand, then th4ey begin spending money they don't have giving away higher and higher pay and more and more benefits. And they do that over years and eventually, it comes back to bite them in the ass. Then the union socialists who caused it all try to sell the line that it is somehow the banks who have helped them to stay afloat this time that are the villains. LOL
You're like a living talking points memo. Unions to blame for the euro debt crisis? You'd be laughable if you weren't so pathetic.
 

feff f

Active Member
so because banks loaned money, they are the bad guys? i thought that was the purpose of a bank. doesnt the blame go to the clowns who ask for, and spent the money?
 

Harrekin

Well-Known Member
23.3% of GDP on Social programmes...not the worst in Europe but some countries spend up to 50%.

That is economy-killing tax and spend policy that doesn't work, it massively restricts EU economic growth. Growth is what's needed to get out of this, not more taxation and redistribution.

With regards to banking, the fractional reserve system is the problem. Banks should be required to keep more capital in reserve, it's what's lead to all of Europes problems (that and fucking Greece not getting its shit together and cutting its massive welfare programmes cos its not "politically favourable").
 

FlyLikeAnEagle

Well-Known Member
23.3% of GDP on Social programmes...not the worst in Europe but some countries spend up to 50%.

That is economy-killing tax and spend policy that doesn't work, it massively restricts EU economic growth. Growth is what's needed to get out of this, not more taxation and redistribution.

With regards to banking, the fractional reserve system is the problem. Banks should be required to keep more capital in reserve, it's what's lead to all of Europes problems (that and fucking Greece not getting its shit together and cutting its massive welfare programmes cos its not "politically favourable").

And we spend 54% of all Federal spending on the military, how is that sustainable?
 

Harrekin

Well-Known Member
And we spend 54% of all Federal spending on the military, how is that sustainable?
Oh it's not, but massive military spending is an American problem, not a European one.

Why are Governments borrowing money to bailout banks btw? Can the banks not apply to the ECB/European stability fund directly to request funding? Yes they can. Germany just wants control of Europe and is using this crisis to do it, had Germany really wanted to fix this mess they could've stopped dragging their feet 2 years ago.
 

Illegal Smile

Well-Known Member
Part of the reason we spend so much on defense is that since WW2, we have been picking up much of the tab for the defense of Europe. That's where we ought to make some cuts. If the euro-socialists can spend on high wages and short work weeks, let them start paying their way on everything else. afk for night
 

Harrekin

Well-Known Member
Part of the reason we spend so much on defense is that since WW2, we have been picking up much of the tab for the defense of Europe. That's where we ought to make some cuts. If the euro-socialists can spend on high wages and short work weeks, let them start paying their way on everything else. afk for night
When exactly has the US been forced to defend Europe?

You have high military spending because you's like to play World Police, anything else on the subject is bullshit and moot.

Sand people killing sand people should be left to the sand people, not some US drone.
 

smilinjack

Active Member
The whole global economy is going down, and it's not happening because of poor decisions, it is being done intentionally. Look at what has happened, we have the EU (European Union), the AU (African Union), the CFR (Council on Foreign Relations) is systematically dismantling the middle east as we speak to put into power the governments they want. Next will be the AU (Asian Union), and finally the NAU (North American Union). Not sure where that leaves the south america and australia, but soon they will be forced to join somewhere. Last year the United States had to come up with 2 trillion to keep from going bankrupt, and how did they do it? They printed more money which drives down the value of the dollar even more. Inflation is running rampant in the US and it will continue to devalue the dollar until it is useless. This is not a coincidence, it is a plan of a few that hold all the money to drive the middle class to poverty and unite the planet under one government. All money is now pretty much fake. Only the large corporations that pull the strings of the government actually have any real capital. All other businesses including state and federal governments all work on credit now. Businesses borrow money to buy product, sell said product, pay their costs, then borrow more money for more product. It's a vicious cycle that is meant to give all the wealth (which means power) to very few people at the top around the world. You think it's bad now, give it a couple years and you will see what I'm saying if you don't already. The new health care bill that they passed in the US has provisions for creating and electronic medical database in which your records are stored on a class II medical device as defined by the FDA (Food & Drug Administration). Now the FDA defines a class II medical device as an implantable device (RFID Chip). The bill states that within 6 months of the activation of the program in 2013 that all medical records are to be stored this way. And with the new healthcare bill they are going to drive private insurance companies out of business so if you don't conform to their implantation of the electronic device then you will be cutoff from the system and will get no insurance or any other type of assistance from the government. So of course that is going to open up the path for all kinds of other regulations that you must meet to get insurance which is the plan, if they get you to accept that this is best for you and we are going to take care of you, all you have to do is give up your rights. It's all coming down, and anything short of an armed revolution will be useless. Like the OCCUPY movement and Anonymous, I respect what they are trying to do, but in the end, governments aren't afraid of them. Hell the FBI just declared the OCCUPY people to be a domestic terrorist group. And with the passing of NDAA ( National Defense Authorization Act) they now have the right to detain people indefinitely, not just in the US, but world wide. Obama was even quoted as saying "I know some of you wish I could just bypass congress, well now I can", bye bye democracy, bye bye freedom, we are being turned into slaves for the system and most people don't even know it's happening to them. Well I could go on all night, but I will end my little rant here.

Peace
 

smilinjack

Active Member
so because banks loaned money, they are the bad guys? i thought that was the purpose of a bank. doesnt the blame go to the clowns who ask for, and spent the money?
It's the banks fault because they lend money that they don't really have and risk their customers money. Which is why governments are having to bail out banks. In some cases it is the people who received the loans fault, however there are clear guidelines on who can get loans and who can't. Now these banks are giving loans to people with crazy interest rates (especially home loans) that they know people probably can't afford. But what do they care, it's a win win for them either the person pays them lots of interest payments, or they write the loan off and get government reimbursement. Like in the US when our entire financial system almost crashed in 08. The government had no choice but to bail out the banks because the banks basically had the power to say hey, if you don't pay off our debt, we will just close our doors and the whole system crashes, just another example of the global bankers having everyone by the balls.
 
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