Forex Strategies Forum

[Rom]

Greece gets bailout money from EU. How nice.

BBC
1 June 2011 Last updated at 11:37 GMT Help
Greece is thought to be in the final stages of reaching a new bailout deal with the European Union, the International Monetary Fund and the European central bank.
EU officials in Vienna are due to discuss the second aid package.

As usual the condition is continuos "austerity measures".

austerity measure
An official action taken by a government in order to reduce the amount of money that it spends or the amount that people spend.

As we should understand by now the bailout money is going to pay debt, nothing else. The money goes to the EU banks. EU is bailing out its own banks. They are too big too fail. Haven't we heard that before?

Of course the Greece must be thankful for this "help", and unless the Greece work hard with "austerity measures" there will not be more "help"... (this is how BBC present the case)

Wait a minute ... isn't the bankers those with the fat bonuses, those who made all the bad loans in the first place ... and now the taxpayers are bailing them out?

The point is no problem is solved. The solution is Greece defaulting and leaving EU. The big banks will have to take a 50% loss. That wil hurt EURO.

[Rom]

Buying Gold, Silver or EURUSD with leverage 3-4 is too much risk, see
risk-risk-off-t4874.html

[Rom]

Bad news for EURO and all bankers and bank traders. There are 33 EU banks that are soaked down with suvereign debt. If the Greece go for default instead of being robbed by their tr... politicians ... Spania, Portugal, Italy and Ireland will follow Greece, and those 33 banks are like Lehman Brothers. That will take down EU and the global financial system.

[Rom]

« BOMBSHELL REPORT - European Central Bank Risks Being 'Bankrupted' By Bailouts: "If Assets Fall By Just 4.23%, Its Entire Capital Base Would Be Wiped Out"

"Less Than A 3 Percent Drop In Asset Values Could Wipe Out Wall Street" - Crisis Panel Says In Final Report

http://dailybail.com/home/less-than-a-3 ... ut-wa.html

[Rom]

Interesting review of what the GOP candidates "stand for" on economy

Wall Street Journal
http://online.wsj.com/article/SB10001424052970204791104577109021043957982.html

Code: Select all

Newt Gingrich:
Repeal the 2010 financial industry and consumer protection regulations that followed the Wall Street meltdown, and repeal the 2002 regulations enacted in response to the Enron and other corporate and accounting scandals. Restrict the Fed's power to set interest rates artificially low. Make work training a condition of unemployment insurance and have states run it.

Ron Paul:
Return to the gold standard, eliminate the Federal Reserve, let gold and silver be used as legal tender, eliminate most federal regulations.

Mitt Romney:
Lower taxes, less regulation, balanced budget, more trade deals to spur growth. Replace jobless benefits with unemployment savings accounts. Proposes repeal of the law (Dodd-Frank) toughening financial-industry regulations after the meltdown in that sector. Proposes changing, but not repealing, the (Sarbanes-Oxley) law tightening accounting regulations in response to corporate scandals, to ease the accountability burden on smaller businesses. "We don't want to tell the world that Republicans are against all regulation. No, regulation is necessary to make a free market work. But it has to be updated and modern."


Obviously, If you want lower tax and less regulation Mitt Romney is your man, and If you want gold standard Ron Paul will be right for you ??

Did Mitt Romney pay for this editorial ad, or does he get that for free?