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I guess this will get an ever-green in this Blog. A few days ago it was again "next payday". This time the program is "really" nice. EU has given Greece money to buy back their own bonds. Well that has a kind of new factor in it. The Greek debts were issued as usually with 100 % and...
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Famed Austrian economist Ludwig von Mises wrote in his seminal work, Human Action (originally published by the Yale University Press in 1949), that “There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come...
Posted to
Hera
by
Ron Hera
on
Tue, Oct 23 2012
Filed under:
Filed under: Federal reserve, inflation, BRIC, Gold, IMF, OPEC, CDS, OTC derivatives, unemployment, Ben Bernanke, Brazil, debt monetization, RMB, U.S. dollar, International Monetary Fund, European Central Bank, ECB, Austrian economics, crude oil, LIBOR, mortgage fraud, securities fraud, Baltic Dry Index, sovereign default, state sponsored terrorism, FASB, bank failure, credit default swaps, HFT, BDI, monetary policy, money laundering, debt levels, European Monetary Union, OMT, SDRs, debt downgrade, forclosure fraud, GAAP, Australia, zero percent interest rate policy, collapse, recession, stock market crash, High-Frequency Trading, gross notional amount, Ludwig von Mises, consumers, liquidity, deficit spending, Greece, Italy. unfunded liabilities, United Arab Emirates, Russia, QE3, quantitative easing III, South America, London Interbank Offered Rate, hyperinflation. gross credit exposure, Generally Accepted Accounting Principles, systemic collapse, EMU, SML. Special Drawing Rights, mark-to-market rule, Africa. Sistema de Pagamentos em Moeda Local, renminbi, ZIRP, Japan, ISDA, Human Action, sovereign debt crisis, Spain, ATS, India and China, Financial Accounting Standards Board, over the counter, Automated Trading Systems, International Swaps and Derivatives Association, Iran, South Africa, Europe, depression, financial markets, Portugal, Organization of the Petroleum Exporting Countries, outright monetary transactions, Los Zetas, UAE
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let's do it again First debt cut for Greece 70 %. Gone. Changes none. Now a second debt cut (around30%) is in "making" (you just have to guess once whom to thank for that) I guess in the mean time every cent Greek spend may consist of > 40 ¢ new debts. But hey we must keep Greece in...
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Well according to the press the ND has got 30 % of the votes. Well that's not even in deledefs meaning enough to be seen as clear winner. And it surelly isn't even in the crudest deledefs dreams the majority. So do the Greeks have voted for the Euro. Well at least we no that nearly as much and...
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Dear Grees, you do not like the "solution" done by your Deledefs? Well you are not alone. I don't like it either. You should have not given any money, despite everything else that is the law. But find now you took the money, well then I've some news for your. You must hold contracts...
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Maybe we see the end nearing. The debts worldwide were soaring the last 3 years and still there is not relief. It can not come as a surprise to the austrians, liberals or libertarians. What we have seen was and just is "credit expansion". The central banks manipulate everything and so we do...
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Please, click here to read this article in pdf format: March 18 2012 We are back from Washington DC and realize that we could choose different titles for today’s letter. Let’s try a few… Title No.1: “The market proved us wrong” Indeed, we have been, and continue to be ...
Posted to
A View from the Trenches
by
Martin Sibileau
on
Sun, Mar 18 2012
Filed under:
Filed under: Atlantic, KreditAnstalt, correlation, stocks, central banks, Greece, gold, Fed, financial repression, swaps, price system, 1931, ECB, Hayek, currency swaps
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Well if you look through this blog you always could read warnings. Just one example http://mises.org/Community/blogs/fdominicus/archive/2010/02/22/f-b-ailouts.aspx But let's see at the Situation without malice. For austrian economics the problems in Greece are crystal clear. What we see is the end...
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That even deledefs have to serve their contracts. In some german blogs it is mentioned that the "haircut" discussions for Greece are stopped. There seems to be some Hedge Funds (what a luck that they exist) which will not agree to the voluntary debt cut. And they may have a chance to succeed...
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The non-plan about a "voluntary" debt cut, is gone. Wel if you have followed this blog you know this hardly can be told to be a suprise. At first If I'm having the bond I have the right to get my money back. It's up to me and the debtor to figure something out if he's not able to...
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It seems the vote is not held. This is interesting in two ways. At first it would be a democratic thing, that it is not held show that the deledefs do not want too loose anything they may get. Now anyway there will be some vote for a new Parliament, but I’m wondering what anyone else can do. The debts...
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Well I’m just puzzling why Greece does this vote about the EU help now and now a year or so ago. The reasons for doing it were the same a year ago. And in fact it could have made a difference. So I’m under the impression that the problems were underestimated a year ago. It feels as if the leaders just...
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Well I guess you have heard about Greece before. If you are wise ;-) and reading this blog and/or the older one you know that I've made my own calculations on the sparse information one could gather. In fact the financial situation of Greece is very diffuse, but now that you know Greece still must...
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especially in regard to the situation in Greece. Well my opinion about taxes it that they are theft in any case, It's not a deal you may make or may not do. You live in country X the "authorities" from country X will tax you. You have no choice but comply, otherwise you will be "convinced"...
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Well it's difficult these times to get some non mainstream reports on Greece. It's impossible to find much critique in any german newspaper or magazine. But there are few side remarks borrowed at the end of some articles sometimes, and one can get a little bit more infromaton on the Neue Züricher...