[cruiser] Hi good morning all !! Recession Stalks Germany as Breakeven Rates Drop: Euro Credit Now we know why ECB ia moving quickly..
[1biz4u] cruiser what's the story with the markets so far this morning??
[paradisegirl] ECB President Draghi goes on the offensive to save the Euro .
[kids] cruiser GM..the media is giving our hints!!!
[cruiser] kids Yes they are.
[cruiser] 1biz4u Very Quiet. Almost like they are waiting forsomething.
[BigB] cruiser One can just see it all unfolding before your eyes.
[1biz4u] cruiser I hope its what we're waiting on.
Read More Link on Right
[BigB] cruiser reading and hearing what is happening, we have to be very close. I think this thing is going to go fast!
[subnet52] Apparently Lloyd's is caught up in the LIBOR scandal also: .
[BigB] subnet52 That doen't really surprise me.
nutzo] subnet52 they are all joined at the hip
[subnet52] BigB me either....they are all connected
[subnet52] nutzo rofl couldn't have said it better
[cruiser] BigB OVer with in a blink of an eye.
[BigB] subnet52 All poop stinks, just some more than others.
[subnet52] BigB rofl
[nutzo] nutzo well they are all good bed-fellows-----till one turns over and one falls out!
[subnet52] BigB you got that right - it's ALL about packaging!
[BigB] cruiser I can see it building up speed - it has to in order to minimize collateral damage.
[BigB] cruiser You should recap your comments of last nights discussion about Blaino's post for averyone here in the castle
[faithhope] BigB agree interesting and I missed the 1st part
[msgwen] cruiser BigB What BigB said, yes! Please.
[BigB] cruiser I find it amazing that more people do not read other sites. A person needs to know what is happening and to get different perspectives. Yes, we have our "preferred" sites but the more info the better.
[cruiser] BigB What that I thought the whole story line was funny, or that I could be wrong for looking at the current system instead of looking at the new system that will replace the current one?
[BigB] cruiser You know that you will have to explain that to the castle dwellers.
[cruiser] BigB I guess so. Thought it was kind of explained.
[msgwen] cruiser Some of us were not here last night. Please share your thoughts.
[cruiser] BigB kind of funny. But it makes you read. and then read again, so we can all comprehend it. That is what I thought at least.
cruiser] For those that want to know. Currently we use a Fiat currency system based on a belief that the currencies of the world are backed by a belief and trust and in reality are not worth anything but pieces of paper. With the U.S dollar pegging or attached to all other currencies (common Denominator) giving the U.S (FED) control of the monetary system. Now the New asset backed system will use the Countires assets ( still to be determined what they are ) and will make the currencies worth something (ex. Gold Standard). So when i am saying i was looking at the old system, I meant the Fiat system.
[citizensoldier] cruiser |ˈkroōzər| noun 1 a relatively fast warship larger than a destroyer and less heavily armed than a battleship. 2 a yacht or motorboat with passenger accommodations, designed for leisure use. • a person who goes on a pleasure cruise. 3 an automobile that can be driven smoothly at high speed. • a police patrol car.
[cruiser] citizensoldier That was pretty good lol
[citizensoldier] fiat money noun inconvertible paper money made legal tender by a government decree.
[blue skies] Maybe today is our day of BLUE SKIES. Not a bad thought.
[citizensoldier] Fiat money is money that derives its value from government regulation or law: the initial value of fiat money is established by government decree. The term fiat currency is also used when the fiat money is used as the main currency of the country. The term derives from the Latin fiat "let it be done
[2012jesus] central bank will hold dinars for dinars will be the worlds reserves money weeeeeeeeeeeeeeeeeeee and every country is going back to there own currency and what there country is worth
[citizensoldier] Fiat money originated in 11th century China, and its use became widespread during the Yuan and Ming dynasties. The Nixon Shock of 1971 ended the direct convertibility of the United States dollar to gold. Since then all reserve currencies have been fiat currencies, including the US dollar and the euro.
[BigB] citizensoldier I hope the novices are listening to these words of wisdom. They have been kept in the dark so long that they really have a hard time distinguising trueths from non-trueths as presented by our media and government.
[citizensoldier] BigB I pray that those who do not know, do not vote.
[BigB] citizensoldier Have you seen the U-Tube on the "Money Changers"? I found it quite accurate and will enlighten those that spend the 2 hours required to watch it. The time goes fast as there is so much info to digest.
[cruiser] So when I say i may be wrong, because I was looking at the old system. If that is to go away now, Then yes i was wrong!!!. Now understand this, the new system will be better for all of us!!!
[BigB] cruiser And with the implementation of the new system, the FED goes bye-bye. YES!
[moonchild] BigB that is one of the big differences between a republic and a democracy.
[BigB] moonchild We were founded as a republic but have been a democracy (mob) for about 200 years. Without change very soon, we will be no more.
[blessedandhighlyfavored] It's Monday...wa la...the example in the video about everything will be fixed on a Monday didn't become a reality because I am still sitting here broke or it is too early in the morning to make that predication yet?
[moonchild] blessedandhighlyfavored that video was just one person's idea of the best scenario to fix the current € mess. And he did not indicate what monday it would be if it happened.
blessedandhighlyfavored] moonchild I know however it would have been nice if he was right
[devildogmom] blessedandhighlyfavored We all have the most wonderful future ahead of us. Predictions of dates/times have been abundant. I don't feel that whoever is in charge will tip their hand to us. It will just get here and we will be blessed.
[moonchild] blessedandhighlyfavored he has not been shown to be wrong. He did not in any way suggest a time period or weekend when it would occur. There is nothing to prevent it from happening next week or the week after...and he would still have been totally correct.
[paradisegirl] on Bloomberg - the ECB can buy some time with several different moves, but problem is not solved, will just kick the can down the road. Saying "this may be it."
[kids] paradisegirl what is your take?
[BigB] paradisegirl I think they are only stalling as the PTB may not have all complete for release.
[cruiser] BigB I all likely hood Yes.
[paradisegirl] BigB that's what I think, too
[moonchild] BigB would not it be nice to know what they were waiting for?
[kids] moonchild I heard the same report
moonchild] paradisegirl do you have that link from Bloomberg?
[paradisegirl] moonchild no link, just saw it on tv
[paradisegirl] sananddan24 looks like the news is lining up for the global reset.
[Sprinkles] paradisegirl hope so
[BigB] paradisegirl I think it was Crusier that said it best. Think about all the things that have to be worked out prior to RV. Not just Iraq, we are talking worldwide, every bank in every country, every detail. You cannot make any mistakes as there is no turning back. Perfect first time.
[paradisegirl] Sprinkles I just hope and pray that the "new" financial system will bring us a better world, with less corruption and financial thievery
[paradisegirl] BigB exactly, and all that is happening now is part of it
[cruiser] Like me explain how the new system would be better. Under the old system the currencies would have to Re Value or De value using the dollar as the denominator. Under the new system, the Revalue or Devalue will peg the assets of the country. That is why some think the Revalue of the dinar will be low and some think it will be high (they use both systems).
[Sprinkles] paradisegirl yes me too, but I would like to see this thing released, NOW, lots of stalling like they don't want it to happen at all, many say it has to but they have been functioning without it for so long, who really knows
[BigB] paradisegirl I could deal with it all a lot better if I only knew when it was going to happen. The bucks are tight - real tight!
[Sprinkles] I just need some hope for NOW
[paradisegirl] kids sorry, missed your question. Looks like things are falling in place.
[kids] Geithner to see need for international cooperation
[kids] paradisegirl put on CNBC
[paradisegirl] kids I have it on now, flipping between it and Bloomberg
[kids] paradisegirl me too---appears a lot of media coverage
[BigB] cruiser Because the dollar has played such an important role in world economics, I still think the dollar will be in a later basket to allow some stability worldwide prior to devaluing. timewiswe, maybe it will happen in 30-90 days.
[paradisegirl] kids exciting to be a part of history!
[kids] paradisegirl exciting but scary
paradisegirl] kids the unknown always is, but I believe we have only one direction to go - up
[cruiser] BigB Forget the baskets. This will all go down at once. IMO
[ModelWoman] kids What are they saying on MNBC?
[kids] ModelWoman breaking news about Geithners mtgs
[BigB] paradisegirl that is the advantage of being on the bottom - only one way to go. Besides, this is a lesson in humility before you get your blessing.
[subnet52] un-named EU politician: "For two years we've been pumping up the life raft, taking decisions that fill it with just enough air to keep it afloat even though it has a leak," the diplomat said. "But now the leak has got so big that we can't pump air into the raft quickly enough to keep it afloat."
[misskitty05] cruiser I thought the relevant assets under the new system had already been defined and currency values were being set based on that system... that's what we're previously heard from intel prviders ...moving to a modified gold standard
[cruiser] misskitty05 That is if they are only going to use gold. I think there will be other hard assets (or secure asstes) that are in the equation to back the currencies.
[cruiser] misskitty05 Currenctly there are 3 tiers. This will be reduced to 2 tiers. Under the Basel III. Tier ! are currently gold and Govenment bonds (that is all i know of at the moment).
[BigB] cruiser They probably have this huge algorithem with population, gold, silver, precious metals, steel, ore, oil, etc. and just plug in the numbers and let the computers go. The result will be their value of the currencies.
[cruiser] BigB Like the guy said in the bloomberg video, mathmatics problem.
[candy] cruiser have you read Blaino's post? if so, what are your thoughts?
[subnet52] candy not really anything specifically about the RV, but pressure is mounting for EU to do something and do it fast before the house of cards comes crashing down. I believe the only way out for them is the RV
[moonchild] BigB probably industrial production will also be part of the equation
[candy] subnet52 i completely agree with you.