Financial Armageddon 2.0 – TOTAL BREAKDOWN avoided last minutes before Markets opened
Wednesday, May 12th, 2010 at
6:09 pm
www.berninger.de On Sunday night the Situation in the European banking system had heatet up so much that finally FRANCE went bust. French SubPrime Minister Sarkozy pushed the rescue package as France was de-facto bankrupt amid a dry up for French debt issuance.
Tagged with: armageddon • car • Collapse • crisis • debt • default" • deflation • Dollar/Euro • euro • financial • forex • France • Germany • Gold • greece • investing • keiser • loans • markets • max • nwo • pimco • silver • USD
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Glass-Steegal now!
Your best video to date! Thank you SOOO much for all you do to inform the world!
I agree that this trillion dollar infusion is only postponing the inevitable. If something is failing , more of what failed will not save it.
I am an american viewing your channel, and i’m a little behind with the European situation … but it seems to me that “they” are using Greece as an experiment, telling us in the US and elsewhere, “this is what will happen to you soon” …
@lightleague
You know I made coffee without even thinking about it while I had this video loading (there was an ad too), I think watching all his videos has programmed me to make coffee without even knowing it
It’s a race to see who can devalue their currency faster, the FED or the ECB
I think in this case Ben Bernanke is sweating with worry, if anything I expect capital flows to the USA . What more can the FED do now? They already have negative real interest rates! Both the FED and ECB are out of bullets, they’ve played their best hands, but you guys worry too much, I think they still have a few Aces up their sleeves, they are with the government so of course they cheat
Thank you for such fantastic video.
can you please post these videos daily giving your view on currencies and whats going on in the financial market
It’s the end of financial capitalism, no other way around it. The system that was described by Keynes as economic activity by doing nothing more than shaking money back and forth has come to an end. At some point, people have to make something of value. Look at the jobs that this system has created: marketing/advertising. real estate sales, financial services, accounting, lawyers, communications, psychologists, and on and on. These kinds of occupations create nothing of value. Its over.
All I can say is WOW! Great information!!!!!
Thanx DOC! Everyone, get your guns & butter ready!
@skazhiprivet that ‘big bubble’ you speak of is called debt that has to be repaid by you or your children or your children’s children through the tax system
mmm interesting, it seems that this morning on CNBC Europe Jeoff got muted when he mentioned that gold was a competing currency with the EUR and USD.
search seeking alpha “Did CNBC’s Jeoff Cutmore get muted when talking about gold competing with fiat currencies?”
@DavidAKZ – Bubbles are overvaluations of assets.
How do you think a 30 to 90% devaluation is going to take place? The EUR, GBP & JPY (and many more) are all fully floating currencies so the market will calculate their values day to day. The Economist big Mac index shows the EUR is overvalued against the USD by around 25-30% so there is certainly some room to come down but no way is 90% possible. If that were to happen in the USA then say BMWs would be a fraction of the price of a Ford.
FWIW, I agree nearly all currencies have problems.
@DavidAKZ said:
repaid by you or your children or your children’s children through the tax system
Money is just a making counter, a piece of paper or an account entry, as a claim to future work or goods. These counters don’t have a stable value and people may decide that this is not OUR debt; we, or our children never benefited from it, so why should we pay. The people of Iceland said this after their banks made some imprudent investments and socialised their losses. Stuff the banks.
@Rizky06 That is a bunch of baloney! That guy ought to have been shot. We have high unemployment and inflation is high. The gov just won’t admit it. Food and energy went up year over year over 18%.
Wonderful truth; looking forward to the fireworks… although I give it 4-8 months before the “solution” is presented!
Thanks jberni.Although you talk about debt deflation in the short term, isnt it hyperinflation that follows a debt repayment crisis? Do you think it is worth it long term therefore taking on debt now at these low interest rates at fixed conditions to repay later in worthless hyperinflated paper money?
@MikeRadmann Hi Mike! And that “solution” will be? War? Starvation, or a new currency?
@humanityfirstnow I’d go for “new currency” first; war however is looking likely (Pakistan Taliban? grrr). Starvation is for those unprepared
Screw another fiat system, we need to go back to the gold standard. That is the only way to stop this ponzi currency game. Sooner or later the top will blow and the people will not settle for another currency unless it is backed by something of actual value “gold”
STOP paying debt and walkaway from mortage, guess who’s got who by the balls? Guns and ammo, gold and silver.
I read this quote at urbansurvival(.)com… is it possible?
“…I’m working at the Deutsche Bank in Germany. Today we delivered 1 container with new Deutsche Mark notes and new coins. I will present a photo from the new banknotes tomorrow morning. The curency change will be the night from Saturday to Sunday 5/16/2010. On Friday, 19.00 GMT Angela Merkel the germany chancelor, will speach to the german nation.This Blog reports that France was close to collapse last week. …”
@SewEyeSea I read that too.