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by Ashraf Laidi
Posted: Feb 20, 2010 5:00
Comments: 30765
Posted: Feb 20, 2010 5:00
Comments: 30765
Forum Topic:
EUR
Discuss EUR in this thread
only 24 million chinese people monthly income over 3500 RMB (550 USD), and i guess chinese have 1 billion people work. that means only 2.4% (maybe less) of chinese have money to drink coca, eat macdonnald/subway...
The problem most folks have that they look only at local evtns as if these were independent of any other. But they are all mutually dependent.
chinese orrow money from EU banks to pay EU owners, and EU owners then credit money back to EU banks. banks have interest, and owners have cash. when ECB raise interest rate, chinese feel painful of that. and there will be no market any more, so they cant pay their debt to banks. EU banks have everything back in cheap, and owners will happey to buy all back in cheap from bank also...but chinese banks will short of cash, chinese real estate market will soon be collapse, people on the street show their power...evil chinese government will no longer exist...what a wonderful thing!!!
that is whole procedure for next two years...all happy except chinese...
owned by Rothschild. It declared bankruptcy in 1931. It has been said that this event resulted in a global financial crisis and ultimately the bank failures of the Great Depression.
The ECB today is very close to Creditanstalt. Undercapitalized and fulll to the brim with scrappy
collaterals.
This is the main reason why prudent investors are more fearful of a european banking crisis
then of the US defaulting. When you think clear enough, a US sovereign default will inevitably lead to the USD as global currency.
perfect opportunity to short now... :)
happy weekend!
The EU govt. in Brussells employs 5000 officials with live long contracts
average salary is 15.000 eur per month average pension is 12.000 Eur per month average retirement age is 50 years....
everyone who can count up to 3 would have plenty of reason not to even touch the Euro.
But this one is already sufficient. EU is still in the state of absolute monarchy.
it is still not clear whether or not DSK had laid Merkel....
AL has considerably changed topic after months of prophesizing QE3 is coming FED will be "printing" he has now turned to oil is QE3 .... again not understanding that tapping the SPR
is exactly the opposite of "money printing" same as buying treasuries is not at all money printing.
ECB prints money all the time and PBOC prints cash all the time.