Attention: The Fat Lady is Getting Ready to Sing!

Back at work

Ever since I hit the ground over here, all of the talk has been about the rumors of an imminent Greek defaut …first it was supposed to happen over the weekend and now it’s been pushed out as far as a week…a month …or?? (Greece denies this BTW)

Here is what I do know: Greece failed to “place’ their short term bill rollover…which is the markets way of sounding the final buzzer, or the fat lady singing… or both. When the market loses confidence in Greece’s short term paper it only follows that it has no confidence in the euro either.
Consider the following:
Germany’s DAX market hit A 5 yr low last week which generated reports out of Germany that they are busy working on plans to recapitalize their banks IF Greece defaults… hmmmm. Could it be, as I, and everyone else suspects, that German (and French and other) banks are technically insolvent due to carrying all of the Greek bonds they currently hold at values WAY over their actual value in the market?…Think about it: If the Greek bonds have been properly marked to the market (at roughly 50% of their face value) then there would be no urgent need for any banks to recpaitalize …would there?
Sadly, this latest revelation from Germany also means that their claims last week of their banks being adequetly capitalized was a lie?
Do you really think this cancer is confined only to the EU?
Do you really believe anything that comes out of our government (or any government) anymore?

Let’s look at what other notable occurrences have been going on at the same time this drama has been unfolding in the EU.

Well, for starters, there has been a stampede of money leaving the Euro and heading to Japan and the perceived safety of the Yen. Why not the USD? lol! For the last 3 years there has been “outlier talk” making the rounds about the euro going to par (to the USD) …should this occur then it would most certainly be the end of the union and it would signal the start of the attack on the USD.

“If you have the emergence of national European currencies as a result of the failure of the union, the mirror image strength of the dollar would instantaneously disappear. Credit default swaps would turn their vengeance on the dollar. The Drachma would be incinerated. The Swiss and DM would be the stronger units.
If the EU fails so does the USDX. With no mirror image to hold up the dollar artificially, the US dollar will fall faster than Greece’s credit”
What that means is this:

The USDX would be around, but no longer reactive to the euro. The euro would be replaced with the original currencies of member states in various percentages as a synthetic euro, but the demise of the euro in the USDX would be complete. Further shorting would not be met with the same reward.

“The attack of the US dollar would commence immediately”, and with that we would see the Dow lose most of it’s value followed by the utter failure of every pension fund and insurance company. This fraud has been perpetrated against us, the American taxpayers, by our own government and central bank.

This time there is no money to bail anyone out. Should thids happen the defaults will look like like dominoes falling…one after the other after the other…you want to see what too big to fail looks like when it fails …hang on! Why doesn’t anyone in our political system give a damn about the fraud and outright lies in our financial system? They know…they can’t not know! Ron Paul knows and he has known for a very long time …almost exactly as long as he has been screaming to get rid of the FED at the top of his lungs~! Why doesn’t anyone speak out against these leverage driven asset stripping games you and I and everyone else will be forced to suffer because of? Because the banks own the politicians. Since 2007 nothing has been one to cut out the underlying cancer and so far no one has gone to jail for it either.

Hasn’t anyone been wondering where all of those ‘toxic assets’ went? or how they are being valued on the books of the banks who hold them? Over 10 trillion + dollars in estimated loses on residential mortagages alone? Wile at the same time …Obama pounds on the table demanding “more stimulus” with absolutely no way to pay for it. Sheeple we are getting the chance to see our own history being played out in the EU right now… right now:

Greece Owes 367 Billion to the rest of the EU
Ireland Owes 865 Billion “
Spain Owes 1 Trillion mainly to France Britain and Germany
Italy Owes 1 Trillion mainly to France Britain and Germany
France Britain and Germany are owed and also owe staggering amounts as well…

“How can broke economies loan money to other broke economies who haven’t got any money because they cant pay back the money the 1st broke economy loaned to the other broke economy and shouldn’t have lended it to the in the first place because the broke economy can’t pay it back…” (sort of like the Abbott and Costello “Who’s on First” comedy bit”

When the problems in the USA started to crop up in 2008 (or even Greece in 2010) did our government take this warning and act on it, stop the frauds, prosecute the wrongdoers, close the insolvent banks, and force the recognition of 10 trillion+ in lost value in residential housing? Did we see bankruptcy occur for those who are in fact bankrupt? No…

Every single politician in Washington on both sides of the aisle are complicit in the theft of the collective wealth of this nation …they didn’t have the intergrity to just say no to the lure of power and money and the banksters that run them are in this to win it. CEJ


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