George Galloway interviews Nigel Farage on European debt crisis


From BBC News: All eyes are once again on the latest attempts to resolve the eurozone debt crisis, with European finance ministers gathering in Poland for a meeting. Worries about a Greek default are high on the agenda, and US Treasury Secretary Timothy Geithner is attending the meeting, underlining Washington's fears that problems in the eurozone could spread beyond Europe. UK Chancellor of the Exchequer George Osborne said on Friday that the eurozone's situation was "grave", and Austria's finance minister refused to rule out the prospect of an eventual Greek default. The BBC has learned that the UBS trader being questioned on suspicion of unauthorised trading alerted the bank himself. The BBC's business editor, Robert Peston, says UBS's internal controls did not pick up the huge loss allegedly generated by its trader Kweku Adoboli, and that Mr Adoboli told UBS that he had engaged in unauthorised trades. Shares have continued to rise following Thursday's news of emergency liquidity measures by five central banks. The central banks are trying to encourage lenders, especially in Europe, to keep lending to each other, and are to provide commercial banks with three additional tranches of loans to help ease funding pressures. India's central bank has raised interest rates for the 12th time in 18 months to try to curb inflation. The Reserve Bank of India raised the policy lending rate, called the repo rate, by 25 basis points to 8.25%. India has been struggling to contain <b>...</b>


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Sick System Reboot: Portugal sinks in euro quicksand


The European Central Bank has called on national governments to now do their part to ease the debt burden. Jean-Claude Trichet spoke ahead of a key meeting of world finance ministers, who are gathering in Paris to hammer out solutions to the crisis. The Fitch agency has also downgraded Spain's rating, as well as the creditworthness of several UK and Swiss banks. And Portugal is warning its deficit-cutting efforts are well off track. The Country's Prime Minster warns of deepening hardship next year with more pay cuts and tax increases ahead. RT on Twitter twitter.com RT on Facebook www.facebook.com


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CrossTalk: Currency Death


How much liquidity is needed to save the Eurozone? Why go in more debt to overcome deadly indebtedness? And is Germany going to remain the prime sponsor of the euro experiment? Will we see the Eurozone change its boundaries? CrossTalking with Andrew Lilico, Jeff Madrick and Jon Gaun on October 14. CT on FB: www.facebook.com


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Greek Debt Crisis -- Why Greece/Europe Can Live Without "The ECB Banking System"


This video is an american perspective on the debt crisis in Europe and the USA - Read the article below for the European and Greek perspective to what is happening in Europe. Reuters has a very broad article today outlining he possible consequences of a Greek exit from the Euro currency. It has lots of big points but ultimately I am left with the thought "so what?" Fundamentally the article is talking about something that is completely irrelevant to Europeans and Greeks. Well it would be if Greek and Europeans were not having to pick up the pieces of the ECB's mistakes Here are some of the highlights "In the event of an exit, they (Greece) will default. And the loss given default will probably be very high, high enough to eliminate the ECB's capital," said Andrew Bosomworth, senior portfolio manager at asset manager Pimco. Okay, the ECB gets wiped out. I do not see the problem. As long as savers have their cash everything can continue as is. You also have to bear in mind that PIMCO are heavily into government debt so you can be sure that anything that affects government is going to effect them. They have vested interests in their statements. PIMCO, one of the world largest holders of government debt. They have vested interest in seeing the bailouts of countries and banks continue "They might need recapitalization from governments, who are not exactly in the best position to provide additional capital." Those are not the only losses the ECB and its national shareholders <b>...</b>


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Greg Hunter Interviews Karl Denninger on the EU Debt Crisis and Coming Financial Crash


usawatchdog.com - There was plenty going on in the financial news world last week. Greg Hunter of USAWatchdog.com talks to Karl Denninger of Market-Ticker.com to get some answers. Denninger is no stranger to covering the real financial news the mainstream media (MSM) won't touch. According to his bio, "Mr. Denninger received the 2008 Reed Irvine Accuracy In Media Award for Grassroots Journalism for his coverage of the 2008 market meltdown. In 2011, Wiley published his book "Leverage," detailing the causes of the 2008 financial collapse along with analysis and policy prescriptions for the future." The world saw another Greek debt deal hammered out where 95% of bondholders voluntarily took a 75% loss. Is the European debt crisis behind us now, or are other financially troubled countries such as Portugal, Spain and Italy going to want the same deal? One tip-off might be the Chicago Mercantile Exchange (CME) has also voluntarily stopped its derivative clearing house operation in Europe. CME acted as a clearing house for many kinds of derivatives including credit default swaps (CDS). CDS are basically insurance for things like sovereign debt that turns sour. What reason would the CME have to suddenly stop doing business in Europe? CME's slogan is ". . . where the world comes to manage risk." Maybe the company is managing a little risk of its own? There was, also, big market moving news on the results of bank stress tests done by the Federal Reserve. Are they really good tests <b>...</b>


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Job-loss fears take toll on European workers - 18 Feb 09


European leaders fear social crisis as jobs are lost amid signs of financial collapse. Germany has approved laws to allow banks to be nationalised, while Sweden has refused to rescue its carmakers and France is seeking to open talks with unions. Governments across the European continent are facing mounting political pressure as fears of job losses grow among workers. Al Jazeera's Nazanine Moshiri reports.


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Europe agrees on eurozone emergency deal


After more than 7 hours of negotiations, European Commission president. Jose Manuel Barroso, and European Council president, Herman Van Rompuy, on Thursday at 4 am told journalists in a press conference that euro zone leaders have managed to secure a deal with the bank sector of a 50% "haircut" on Greece's sovereign debt. "The agreement includes a voluntary contribution by private creditors who had lent to Greece", Van Rompuy said. The president of the European Council also stated that the objective of such loss is to reduce Greece's debt by 120% of its GDP by 2020. A bank recapitalization of 106 millions has also been agreed on. French president, Nicolas Sarkozy, said in a press conference that the results come as a global "relief" for the "whole world". "the whole world was expecting a decision that was strong from the eurozone", said the French president.


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FED QE3 Coming US Equities Reach 2012 High, China and India Slow Euro Dysfunctional


The global economic data is clear as losses are creeping into earnings reports from JP Morgan, Goldman Sachs, SONY ($5.6B loss), Europe and Asian markets. Emerging markets like China has slowed considerably in recent months while India's output fell 3.5%. Both China and India rely on European markets which have faltered with Italy, Greece, Spain and France weakening. The sentiment among analyst has also begun to shift negative as Marc Faber, Volker, and Bill Gross, PIMCO bond fund cut holdings in emerging markets. Gross cut securities holdings to 7% from 10% in March 2012. This rapid move has cut Gross, PIMCO emerging market debt exposure to a two year low says James Rickman III, Director iHuman Evolution. READ MORE CLICK HERE www.ihumanevolution.com For 2012, the International Monetary Fund report shows a slowdown in the global economy. The market will not maintain upward momentum without massive FED QE3 stimulus. However, the political headwinds in America are negative on pumping more money into the economy by offering US treasury bonds. It's a strategy to kick the can down the road increasing debt that will have a major impact on the ability of future generations to create job growth, upgrade education and personal financial savings that will further hamper housing markets, comments James Rickman III. If the economy deteriorates, we may be looking at a very tough 2012 November election bid for President Obama. It could benefit Presidential candidate Mitt Romney as the <b>...</b>


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Sky News HD opening: Global market turmoil and eurozone debt crisis - August 6, 2011 (HD)


Global financial markets could face further turmoil in the wake of the US credit rating downgrade. Credit ratings agency Standard and Poor's said early on Saturday morning they had downgraded the country from its top AAA rating to AA+. The loss of the rating could reignite panic on the markets as traders worry that the world's biggest economy may be leading the way back into recession. Markets around the globe suffered huge falls this week, but the US Dow Jones ended higher on Friday after better-than-expected jobs growth figures. In London, the FTSE 100 index of leading UK shares closed the day at 5246.99, down 146 points or 2.71%. More than £148bn has been wiped off the FTSE's value since trading opened on Monday - a plunge of 568.2 points or 10.15% - caused by the eurozone debt crisis and fears the economy is stalling. news.sky.com news.sky.com Copyright ©2011 BskyB


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Money and Markets TV - April 20, 2011


Claus Vogt examines two ways the US economy could collapse: a loss of confidence in government debt, or a double-dip recession, leading to a funding crisis. He sees evidence that both scenarios are in progress, and offers ways to protect yourself.


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Acropolis Now: 'Debt' down to 'default' as EU plugs Greek leak


A major US credit agency says it will downgrade the Greek debt to default status as a result of the second bailout for the country. The plan agreed by EU leaders, includes both government and private loans totaling around 150 billion euros. The move has boosted the single currency for now, but critics say it's only plunging the struggling Eurozone into an even deeper debt hole. RT on Twitter: twitter.com RT on Facebook: www.facebook.com


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Parties meet on Ukraine gas debts


Ukraine is looking to get $4 billion dollars from Europe to assist in buying Russian gas. Naftogaz Ukraine has seen net losses increase 80% year on year in the first quarter of 2009, and needs money to pay its debts.


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WALL ST.TODAY STILL AT IT! BANKRUPT AGAIN! LEVERAGE 40 TO 1 REGULATE NOW!.flv


www.pbs.org states Wall st still continues its same practices that caused the melt down! please support pbs one of the few news organizations left not completely in corporate control your donations help make this work! for discussiona and educational and fair practice use


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Kyle Harrington - Fox Business TV - November 7, 2011


Kyle Harrington appeared on Fox Business Network Television with host Charles Payne Monday, November 7th 2011 at 2PM ET. Kyle discussed "Are US Markets at the Mercy of European Debt?" HARRINGTON CAPITAL MANAGEMENT, LLC. is an investment Adviser registered with the SEC, located in New York, NY and San Diego, CA. Kyle Harrington, Founder and Managing Partner www.hc-mgmt.com The opinions voiced in these presentations and materials are for general informational purposes only and are not intended to provide specific advice or recommendations for any individual. It is only intended to provide education about the financial industry. To determine which investment(s) may be appropriate for you, consult your financial advisor prior to investing. Any past performance referenced herein is no guarantee of future results. All indices are unmanaged and cannot be invested into directly. No strategy assures success or protects against loss. The fast price swings of commodities may result in significant volatility in an investor's holdings. International and emerging market investing involves special risks such as currency fluctuation and political instability and may not be suitable for all investors. Investing involves risk and possible loss of principal; please seek advice from a professional.


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Bank crisis adds to Spain's woes


www.FT.com As Moody's downgrades 16 Spanish banks, Miles Johnson, Madrid correspondent, reports on how the people of Spain are resigned to the news and whether the problems in the Spanish banking sector point to a wider eurozone banking crisis. For more video content from the FT, visit the Financial Times video page at: www.ft.com


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Greg Hunter: CME Out of Europe, Dr. Ron Paul, Israel-Iran and More: Weekly News Wrap-Up


usawatchdog.com - This week, we find Israel and Iran at the top of the story list—again. The US has given Iran a "last chance" ultimatum to work out a peace deal with its nuclear program or be attacked by the end of the year. Meanwhile, Israeli Prime Minister Benjamin Netanyahu, basically, said he doesn't need the blessing of the US to attack Iran's nuclear sites. It sounds like war in the Middle East is not far away. Fuel prices are heading higher according to Edmunds.com and many other oil market analysts. The national average is approaching $4 a gallon, but it's already $5 a gallon in certain areas on the East and West coasts. Experts expect to see a $5 per gallon national average this year, but if there is war in the Middle East, all bets are off. The sky is the limit. There is still no clear winner in the GOP for the presidential nomination, but Santorum and Romney appear to be fighting it out at the top. Some Republicans want Newt Gingrich to step aside, and the MSM is now nearly ignoring Ron Paul. The Greek debt deal was hammered out last week, but is it really over? The CME is signaling there is trouble brewing with the credit default swaps that insure the toxic bonds. This week, the Chicago Mercantile Exchange voluntarily asked that it be removed as a derivatives clearing organization in Europe. The bondholders took a nearly 75% loss to get the new Greek debt deal done and are likely going to be looking for the CDS "insurance" to pay the difference. Could it all <b>...</b>


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Euro leaders agree on euro crisis deal


After more than 7 hours of negotiations, on Thursday euro zone leaders managed to secure a deal with the bank sector of a 50% "haircut" on Greece's sovereign debt. "The agreement includes a voluntary contribution by private creditors who had lent to Greece", Van Rompuy said. The president of the European Council also stated that the objective of such loss is to reduce Greece's debt by 120% of its GDP by 2020. A bank recapitalization of 106 millions has also been agreed on. French president, Nicolas Sarkozy, said in a press conference that the results come as a global "relief" for the "whole world". "the whole world was expecting a decision that was strong from the eurozone", said the French president.


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Peter Schiff on the Euro Crisis, the Rising Dollar and the GOP (12/12/11)


The European Union's summit solution or no solution? Friday, markets were excited for a day, but now is it just back to reality? Moody's reiterates that its ratings for the eurozone are still negative, with a downgrade still in the card for a number of sovereigns, including, you guessed it, France. Sarkozy says the loss of a triple A (AAA) would not be "insurmountable," and that If the rating companies did "pull it, we'll face the situation coolly and calmly." Really? Maybe for Napoleon this is true, but in Latvia, depositors are already lining up to take their money out of banks, which proves that "cool and calm" is not always something that can be achieved simply by words alone. And this should concern France and the rest of the Eurozone, in light of reports like this latest one by the OECD, which warns that industrialized governments should expect to struggle with borrowing more than 10 trillion dollars this year as they remain at the mercy of the market's "animal spirits." And speaking of bank runs, it's the anniversary of one that started in the US in 1930, credited with bringing down the banking system. So what could stop that from happening today? While people talk about jobs, the deficit, the president...is this the silent threat that could bring down the economy? Peter Schiff of Euro Pacific Capital joins us to discuss all these issues. He is host of the Peter Schiff show, as well as author of many books including "Crash Proof," and "The Little Book of Bull Moves <b>...</b>


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P1 of 4 - LW2 - Bailout, Jobs, Globalization, European Union, Anglo-American Afghanistan War


Part 1 of 4: LaRouche Webcast 2, The Real Change is Coming: How the Anglo-Americans start wars by killing leaders. The nonsensical Afghanistan war. The British Empire plunges the Earth into warfare from time to time in order to grab power. If Obama does not listen to the American Patriotic faction, he must be replaced, because there will not be much of a chance for civilization in the name of peace. The European Union - Western and Central Europe have been destroyed by Globalization, they have lost their sovereignty. The world is in a major economic crisis of the international monetary system, a general breakdown. To force the needed change of the planet today, we need a bloc of nations combined to include Russia, China, India and the USA to force that change and arrest the warfare hand of the British Empire. The United States is shutting down their high-tech industries deliberately and also losing the people who are skilled in these jobs. You can't build a world by raking leaves and do social work. How the US bailed out corrupt banks, the swindlers of Wall Street, and the US Congress and Senate did nothing to stop the loss of citizen homes of American citizens; nothing to stop the loss of industrial jobs. The United States has on the books tens of trillions of dollars of worthless debt. The brokerage firms and banks that have invested in derivative should have their ill-gotten gains taken away from them. Instead the US government is ramming through Hitler-style policies <b>...</b>


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Liberties Lost, Death of the Republic? How Much Is Enough?


Please Rate & Subscribe www.savingtherepublic.com Our Republic, 235 yrs in the making, has wandered way off the road our Founding Fathers envisioned us to be on. A country with limited government intervention then now has government in every aspect of our lives. Out of control spending & debt, devaluing the dollar (monetizing our debt & printing money), surging (soon) commodity prices leading to inflation possibly hyper-inflation, massive economic failures on multiple fronts, loss of freedoms right under our feet and the list goes on and on. @02 How much more do you need to see? Are you listening to those who are warning you? @02:47 Are you listening to those who are deceiving you? @03:03 Or are too occupied and complacent... while "Rome" burns? @03:42 Doesn't matter who is in power... Republican or Democrat, they're all the same! @03:50 This mess (oil dependency, financial, social, political, terror etc) has been going on for a long time, only now it's coming to a head (can't be hidden anymore) @04:06 Just a matter of time till America starts looking like Europe... (Athens, London, Rome) @04:28 People like Van Jones & Frances Fox Piven have advocated violence in America to effect change! @04:36 America, we are in a lot of trouble. You can't sit around "waiting for someone else to do something"! That "someone else" you're waiting for is... YOU!! If not for yourself, do it for them... (children) @04:53 56 men, our Founding Fathers, had the courage to risk their lives <b>...</b>


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Folker Hellmeyer and James Turk talk about Europe, inflation and gold


Subscribe to our newsletter at www.goldmoney.com In this video Folker Hellmeyer, chief analyst at Bremer Landesbank, and James Turk of the GoldMoney Foundation, talk about the problems facing the eurozone and the coming pick up in inflation. Hellmeyer doesn't see a recession coming in Europe. However he believes that inflation will pick up and go back to the levels of the 1980s. In his opinion, the disinflationary period following the 1980s is widely misunderstood and was caused by the opening of communist countries which lead to overcapacities in global labour markets. Those resources have now been exploited and can't buffer inflationary pressures any longer. They agree, that the government inflation statistics have been modified to show lower numbers -- as claimed by John Williams of shadowstats.com -- leading to a growing inflation-burden on the middle classs. Hellmeyer points out that the ECB is trying to monetise as little as possible, contrary to what the Bank of England and the Federal Reserve are doing. He also believes that European countries are in a much better shape than reported. He agues that there is aggressive speculation against the eurozone that disregards the reforms that have been undertaken, while other countries are simply monetising without any fiscal reforms. He points out that regarding debt to GDP ratios, budget deficits and reforms Europe is in a much better shape than for instance the US, the UK or Japan. This unfair treatment of Europe has a <b>...</b>


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Stocks turn higher, JPM slammed by "London Whale"


05/11/12 Wall Street turned higher following a better-than-expected US consumer sentiment report. JPMorgan Chase reported a loss of at least $2 billion from a failed hedging strategy.


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Econmic Collapse News Update May 11, 2012 - JP Morgan and other banksters.mp4


Headline Economic News for May 11, 2012 -- Links to all reports are in the description for those who want to read the full stories. The transcript of this presentation will be on my blog at Apocalyspe2010.blogspot.ca. There is an excellent video link below that explains what GDP really means and how it's calculated. It's an eye-opener video, about 30 minutes long, I would recommend all to watch it carefully, very educational. • Schauble Says Europe Can Handle Greek Exit As EFSF, Fitch Warn Of "Catastrophe", Mass Downgrades www.zerohedge.com • From Russia Today: Merkel calls for austere Europe, rejects new debt: rt.com • Again from Zero Hedge / Overnight Sentiment: And In Non-JPM News...www.zerohedge.com • From Mish Shdelock: globaleconomicanalysis.blogspot.ca • Whale of a Story: JPMorgan Loses $2 Billion on "Ineffective, Poorly Monitored, Poorly Constructed" Hedging Strategies; Reflections On the Volcker Rule: • Truth about Unemployment Numbers: From Mish Shedlock's site: 2.2 Million Go On Disability Since Mid-2010; Fraud Explains Falling Unemployment Rate; Will Higher Disability Taxes Fix the Problem? 05-08-12 ECONOMIC GROWTH: Part 1 - Fake Numbers - Ty Andros - MACRO ANALYTICS: Video link - youtu.be


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Keiser Report - Markets! Finance! Scandal! (E62)


This week Max Keiser and co-host, Stacy Herbert look at the latest scandals with stolen credits and the debt in Europe. In the second half of the show, Max talks to his guest Gregor MacDonald about the role of energy in US economy.


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The loss of Englands trading supremacy resulted in the Scramble for Africa


Many places in Africa were already being depopulated and exploited through economic manipulation and the slave trade but competition amongst Europeans lead to a scramble for Africa as a way to secure foreign markets for themselves The Concise Encyclopedia of Economics Adam Smith (1723-1790 ) www.econlib.org In the fourth book of The Wealth of Nations—published, remember, in 1776—Smith told Great Britain that its American colonies were not worth the cost of keeping. His reasoning about the excessively high cost of British imperialism is worth repeating, both to show Smith at his numerate best and to show that simple, clear economics can lead to radical conclusions: (bellow quote from Adam Smith) "A great empire has been established for the sole purpose of raising up a nation of customers who should be obliged to buy from the shops of our different producers all the goods with which these could SUPPLY them. For the sake of that little enhancement of price which this MONOPOLY might afford our producers, the home-consumers have been burdened with the whole expense of maintaining and defending that empire. For this purpose, and for this purpose only, in the two last wars, more than a hundred and seventy millions [in pounds] has been contracted over and above all that had been expended for the same purpose in former wars. The interest of this debt alone is not only greater than the whole extraordinary profit, which, it ever could be pretended, was made by the monopoly of the <b>...</b>


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Rousseff Says Fiscal Measures Will Not Solve Crisis


For more news and videos visit ☛ ‪english.ntdtv.com Follow us on Twitter ☛ ‪http Add us on Facebook ☛ ‪me.lt Brazil's President Dilma Rousseff says fiscal measures won't solve the EU debt crisis. Rousseff and senior Brazilian ministers will be meeting with EU leaders to discuss the crisis as well as trade and investment issues. Fiscal measures are unlikely to solve the European Union's debt crisis, Brazilian President Dilma Rousseff said on Monday. It was her first visit to Europe since she took over as her country's head of state. President Rousseff of Brazil talks to journalists at the end of a meeting with her Belgian counterpart—referring to Latin America's 1980s debt crisis: [President Dilma Rousseff, President of Brazil]: "In our case extremely restrictive fiscal measures only deepened the process of stagnation and loss of opportunity...It is difficult to exit a crisis without increasing consumption and growth." Rousseff and senior Brazilian ministers will meet with EU leaders on Monday evening and Tuesday to discuss responses to the EU debt crisis as well as joint trade and investment projects. [President Dilma Rousseff, President of Brazil]: "We have spoken about multi-lateral issues and what is going to happen in the coming months, especially the economic crisis that affects the developed countries for the moment." Belgian Prime Minister Yves Leterme says the two heads of state did not discuss a contentious proposal by the EU executive to tax financial <b>...</b>


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Future of Euro: crisis in Greece, Ireland, Spain, Portugal. Economy speaker - Banking Keynote


www.globalchange.com Euro crisis in Greece. Monetary union constraints in high inflation or deflation. Role of European Central Bank in balancing needs of high growth and low growth economies. Impact on pound sterling and dollar exchange rates, and banking solvency. Regulation, capital adequacy, capital flight, run on banks, collapse of banking system. IMF rescue loans, European Central Bank financial support (ECB) and impact on Euro zone interest rates. Contrasts between Ireland, Greece, Portugal, Spain, Germany, France, Italy and countries which more recently joined. Loss of sovereignty to Brussels. Political issues in controlling budget deficits or imposing budget cuts on an unwilling nation. Political unrest and threat of strikes or instability. Challenges for the future. Comment by Futurist conference keynote speaker and author Patrick Dixon at London Stock Exchange UK Trade and Investment - Nordic Business Awards. European Union trends.


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Government Tries to Spend its Way Out of Debt


FBN's Charles Payne, china, economy, inflation, fox, news, network, wall street, wallstreet, money, cash, markets, flow, hyperinflation, wall street strategies, los angeles, investor, investment, business, neil, cavuto, glenn, beck, timothy, sykes, promote, revenue, influx, smart, recommendation, kind, American, republican, democrat, left, wing, right, wing, liberal, conservative, green party, tea party, Europe, finance, financial, large, small, gains, portfolio, suggestion, stock suggestion, stock of the week, advice, hutton, spending, Washington, liabilities, private debt, unemployment, bailouts, loss, losing, interest, power, capital, czar, diminish, executive, free markets


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Silver & Gold - Debt Collapse - $20000 Gold - Mike Maloney on Economic Crisis


www.goldsilver.com Mike Maloney is the author of the world's best selling book on precious metals investing. Since 2003 he has been advocating gold and silver as the ultimate means of protecting wealth from the games played by our governments and banking sector. In this 90 minute presentation he lays down his 'most likely' scenario for the global economy over the next deacde...short term deflation, followed by big or even hyperinflation. Here you will learn the true definitions of inflation the difference between currency and money, price vs value, 'Wealth Cycles', gold and silver accounting for the expansion of fiat currency, gold and silver supply and demand, the differences between the today's bull market and that of the 1970s, The Debt Collapse, and more. If you would like to know more check out Mike's websites www.GoldSilver.com and http Mike sends out a free weekly newsletter from each of the above sites each with valuable information on the economy and gold & silver, see you there. Default Greek Greece Debt Crisis Debt Debt Ceiling Ron Paul Newt Gingrich


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Alex Jones - May 11 2010 4 Euro Crisis & Webster Tarpley


Alex Jones - Euro Crisis & Webster Tarpley trillion Euro bailout. Trilateral Commission. Council on Foreign Bonds. Council on Foreign Relations. David Cameron becomes Prime Minister of England, David has Rothschild links. Euro bailout crisis expands Relief at the European Union's bold move to restore investor confidence gave way 4. "EUROPE'S FOOLS" Conservative newspapers and the Social Democratic opposition articulated public anger and fear over the latest bailout, warning that Berlin could not trust its euro zone partners and may end up having to foot the entire bill. "What happens if other countries that get aid from the package drop out? Will the German share increase then?" SPD parliamentary whip Thomas Oppermann asked on ARD television. The mass-circulation Bild daily complained in a front-page headline: "We are Europe's fools again." The conservative daily Die Welt said the fundamental problem was that the other euro zone countries did not share Germany's culture of financial stability. "The euro zone is dominated by countries for whom currency stability is not so important," commentator Joerg Eigendorf wrote. "Nothing symbolises that more strongly than the loss of the central bank's independence." Greek government officials said Athens would submit a formal request for its first tranche of euro zone/IMF aid Tuesday, seeking 14.5 billion euros in three-year loans ahead of a May 19 repayment deadline for a 8.5 billion euro bond. In a sobering note, the International <b>...</b>


Alex Jones May 11 2010 Euro Crisis Webster Tarpley

It's the Same Banking Crisis, Stupid! (and Basel III)


The crisis that started in 2008 is a banking crisis and it is still going strong. Banks all over the world over-leveraged their capital and extended loans unwisely to the undeserving. American financial institutions lent money to homeowners who could not pay back, buried as they were under a mountain of debt. European banks lavished funds on countries such as Greece and Italy which were technically insolvent or illiquid owing to low economic growth rates and bloated public sectors. Chinese "banks" were coerced into bankrolling near-bankrupt state-owned (SOEs) enterprises and municipalities. Consequently, China's financial crsis is imminent as is the collapse of the municipal bond markets in the West. Thus, what appear to be disjointed economic crises are actually manifestations of a single cancerous phenomenon: the avarice, recklessness, and inanity of banks. The solution? To Nationalize all the major banks, starting this coming November 2011. The "sovereign debt" phase of the banking crisis (2010-2) emanated from the realization that lower growth rates throughout the industrialized West were insufficient to guarantee the repayment of debts accumulated by governments. The proceeds of the credits and loans assumed by public sectors throughout Europe and in the USA were ploughed into successive futile attempts to stimulate ailing economies and avert banking crises and panics. Banks are the most unsafe institutions in the world. Worldwide, hundreds of them crash every few <b>...</b>


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New Bailout Cooking in Europe?


Watch full episode 95 of Keiser Report on Tuesday. This time Max Keiser and co-host, Stacy Herbert, look at the epic battle between debtors and creditors bringing out the kneepads, downgrades and last rites. In the second half of the show Max talks to investment adviser, Michael Krieger, about a gold standard in the hands of the people. RT on Facebook: www.facebook.com RT on Twitter: twitter.com


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THIS IS GREECE -ΝΥΝ ΥΠΕΡ ΠΑΝΤΩΝ ΑΓΩΝ


And though still doubting Nations pause To balance gain or loss, Unfaltering Greece unfurls her flag Beside St. Georges Cross. Once more to save a menaced world Her fathers sword she drew, And comrades we in this great cause Salute her White and Blue; For not in vain our sons may fall On earth, in air, at sea, When our two peoples arms ensure Mans birthright to live free. The debt we owed two thousand years We never can repay, But Europe saved will not forget The debt she owes today Lord Renell of Rodd Though Greece was conquered, she defeated the conqueror and imported the arts in the uncivilized Latium. Quintus Horatius Flaccus, Roman lyric poet When the birthplace of the finest civilization the world ever experienced, the country to which we ought what makes life superior and more beautiful, faces such an attack, the place of all real people is by her side. William Lyon Mackenzie King, Prime Minister of Canada First Greece taught us that free men can be brave, and that no defeat is meant to last forever. This small nation proved to be worthy of its history. Albert Camus, French author and philosopher Our country, in which virtue is especially honored, watches with admiration the struggle of the Greeks in Albania. We are so much touched, that, by letting aside every other feeling, we shout: LONG LIVE HELLAS!. Mainichi Shimbun, Japanese newspaper, 7 December 1940


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