Libraler/Libertärer und pro-kapitalistischer Blog, umbenannt als Homage an "This time is different". Schreiblage: Von locker über ernst, ironisch bis sarkastisch und manchmal nur noch makaber. Ab Dez 2017 auch 'The next money will be different' integriert
Well on is for sure, the French do think of themselves as a grand nation and I guess we Germans are not that loved.
That has quite a bit of potential. Let’s hope that Hollande will win, and so France will like to end the EU experiment. And well if in doubt. “Blame the Krauts”.
And indeed Hollande started this sound. I guess we Germans should not be too suprised.
I do not wish the socialists in France anything good. I just hope they got that kind of hell they seem to prefer. I’m sorry about the last liberals west of the Rhine.
They will have to pay the bill. Everyone but the Deledefs know that they can not generate value. And so they are a waste, and someone has to pay for this wasting.
That are the rests of productive workers.
So with Hollande we have higher chance that France will break down under itself and a Euro without France, well, that might get “interesting”. But well better we end this
socialists Euro sooner than later…. Let the French live and do as they like, let’s just hope nobody else has to pay….
Spain, Greece, Ireland etc. have suffered (and are suffering) severly under a credit expansin. We know that this will lead to a catastrophe sooner or later.
Von Mises has told us, Hayek hase told us and many others also. Currently it looks as if the Deledefs world-wide would like to be the template for credit induced defaults.
Anywa that is not all that has hit Greece, Span or Ireland. The other big big big problem are the subsedies of the EU. This money was of course not given to the people but other governments for “developing” their countries. And so they did. New streets of highes quality, bridges etc. All a bit larger because of he “expected” growth. Anyway in a free market that never would have happened (at least not so long and that absurd) and now they are hit not only with overwhelming credit but with a infrastructure too big (but anyway one has to support it or it will break down). I guess for the next few years thise cuttings will come and with it another wave of defaults (this time in the building industry)
The problem shows that one fault often leads to another while trying to fix it. And this time they are completly wrong. The problem was credit expansion but now they want even more form that and ECB should finance the states. That surely will not do. It’s the biggest faule they can do. And so the header will struck with force but it’s the Deledefs own fault. They never understand and work for markets always and ever for ever expanding government. Surely the way to hell.
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 not have any idea any more about “prices” for money. Just remember what I wrote some time ago:https://mises.org/Community/blogs/fdominicus/archive/2011/09/08/who-could-be-suprised.aspx
Feel free so just search a little through older entries and I also suggest having a look at: https://mises.org/Community/blogs/tincho/
I also wrote about what one “should” try. There is one problem which will bite you whenever you are just having money in one country. This money is prone to expropriation. Especially worse is it for countries nearing the default or being in default. Greece should be a warning for every one. There are now at least 3 levels of creditors. IWF and ECB as “primary” creditors, ECS has not suffered any losses (all the papers bought were change to papers with the same nominal value), then come banks (they were partly bailed out, either through ECB, FED or other central banks and they could probably keep there looses below 50 or so per cent. Then comes the private creditor. They had to suffer losses beyond 80 %. That’ s what will happen world-wide. If you think this well be a Greek specialty, think again and doubt it. If you believe the Fed, ECB or whatever political power will not do the same, you can start burning your money immediately.
There will be always problems if you are just “invested” in one country. The laws change and nobody will grant you anything. You own government does not shy away from robbery. So if you have all your property in your country they will get you. So be suspicious and send your money overseas into different areas. It’s unlikely that you will loose everything at once following that route. But be cautious, one larger country getting into default will have implications on other areas also…..
A nice story from our political establishment here in Germany.
Mr Eichel (ex finance minister) has said he would invest in bonds of Greece as the “show” started. Now we learn (he was just joking or simply lying). He wanted to buy for the enormous amount of 1000 € (well now tell me about investing) but unfortunately one had has to buy for at least 5000 € . Well one can call it bad luck I guess
His excuse of not buying now any more is even more “fantastic”. He can not buy bonds with a yield of above 20 % that would be to speculate.
Well here in Germany we are near the top of the prices for fuel. And the politicians blame the oil companies for the high prices. Fact is we do have
an oligopoly here. That’s in itself not too bad, but together with regulations it hurts.
Anyway did you know that well around 60% of the price is caused by taxes? So let’s see 1.67 somewhat is the price for fuel. So we have to pay 1.002 €/l on taxes.
Can you believe the comments of the politicians? So in fact without the taxes we’d do pay around 60 -¢/l. instead of 1.67 €. Or put the other way of the base prices raised by 1 -¢
we’d have to pay 2.5 -¢ more together. So with just 10 ct different we have to pay a quarter € extra.
And yes do not forget the evils of Co2. So people curse the state because of it, and the state does blame those earning less from each liter but themselves. They want lower prices?
So why do they put 60% taxes on fuel? No they enjoy it. And they do nothing for lower prices. On the contrary, they are even enjoying the benefits of 1 trillion of new Euros without any value.
So where do you think the prices will go?
Indeed because the ECB is printing money the prices will go up. And in the not all to distant future we have reached the goals of the greens. 5 DM (that are 2.55 €/l). What will stop the prices from soaring?
Well nothing but a crash, either the crash of the currencies of crash of the “social democratic” systems. And as we know from Mises, if you do not stop credit expansion. Credit expansion will stop currencies.
And we’ll here the new song of the guilty speculators
Dear Readers I like to tell you a story about FUD.
As you could read in my last entry. Greece is still finished but the deledefs do not admit that. That are not real news. But now it’s get interesting. According to
some blogs in Germany 40 members were excluded from the left party and the right party because they did not agree to the “saving” plan.
There are somewhat below 300 member in it. So just imagine well beyond 10 % were excluded because they did not accept a stupid and guaranteed to fail plan.
Now aren’t party great?
In fact they suck to badly that one just can day fubar. Parties are the most repressive system one can encounter and having such prominent roles as they have is
again fubar. So we are ruled by a fubar system, with fubar money. That’s a few too many things one can not even dream of to repair. In the end the end is clear.
The “systems” will break down. That means violence and yes most of the time war.
If you have read hear just a few articles you know that I think Obama should not be president.
Now he gave a talk about the “Future of the US” and there he mentiones something like egoistic money jugglers.
Well it’s not the egoists I’m afraid of. Imagine you get along somewhere (let’s think a market), and you want to have something let’s say a pot of honey. You want it (egoistic) and now what is the next you ask?
Well it will be “How much is it”. And you will get an answer. This answer will be the base on which you decide, well yest it’s worth it or not.
Now you are a non egoistic but politician. The same market. You see something and think well those or those may have a need for it. You take the stuff and inform the other side that’s for the greater good and that he has to
agree. If he won’t you will just pull your gun and say again. “Sir/Madam you want to give that to me for free, I know better what to do with it”. The latter attitude is that of Obama and hit gang (bureaucrats etc) It’s not me that is alone with this see the big dispute about a visit to your president here: http://www.huffingtonpost.com/2012/01/24/tim-thomas-boston-bruins-white-house-obama-politics_n_1228156.html
Who is the problem? AFAIKT it’s not the egoist. He knows he has to give to receive something in return.
t’s unbelievable what politicians come along these days. Till now every “plan” (should I dare to name it that way) was put into pieces. And they still do not get it. The problem is not too less money, too less political influence and the like. There’s just on thing really too less. Personal responsibility. As long as the plans just do everything to minimize that, they will sink Billions and trillions of money, till they can’t do any more.
The people having robbed out the majority, must stand to their responsibility and give back. Currently everything is done to keep them “at the top”. That’s bad, how can anyone expect normal people building trust if they see how those people for the “get rich fast” won’t pay to have their bill.
So is the bottom reached. It’s not even in sight. For Germany I predict we’ll test the DAX lows from 2003 or so, for the Dow at least 1/3 to 1/2 losses is not that uncertain. Will we see bankrupt states. Well we’ve seen Iceland and we see what happens to Argentina…. Don’t say it can’t happen to larger states. If we in Germany throw out all the money we do not process….
At least we in Germany have experiences state bankruptcy two times in the 20ies century. One after World Word I and the second after Wold War II. Unfortunately our politicians do not take that possibility into account…. with the half billions parachute for banks, we may start outstretching our luck….
The only problem I see is that the downgrades were just to low and not complete enough
It still is completely ok to downgrade the EFSF. It’s simly a package of lies. It’s good hat this lies are not bought by the rating club.
You can see how well deserved the downgrades are if you read things like “Germans must help Italy” and the like. There is not must there is just a must not. But
this is ignored. But still I won’t forget the breaking of the contracts and laws. If you follow this blog you know that I’ve always expected them to follow their own given rules.
They won’t and don’t, so let them go down. So lower their ratings quite a big further an I’m happier.
As you might know I’m against government wherever I see it. Now there is some interesting new about Hedge funds and Greek debts.
As you might know Merkozy have informed us that Greece must be saved and was saved, partly through a “voluntary” renunciation through banks.
It seems some parties are not very happy about it and have bought many soon to be maturing bonds. Now what does that mean?
It means they expect either a full payment (that would be a fantastic return on investement) or that Greece will default and that the CDS will have to pay.
In both times they are winning big. And that is excellent new.
I’m quite aware it will harm the counter parties and in the first case (the full payment) those are we the tax-payers. Anyway. it’s up to everyone to take the risk
or not. It’s clear a few billions will be won by the Hedge fund but in the case of some expropriation. I guess they are aware of that danger. They should know
quite well. “One can not trust government” If you do you will come home in a body bag.
in his past tries to win this election (which unfortunately he did win)
His motto was: “Yes we can”
I was always puzzling, “what the hell does he mean with “we caan” “. And now I know. He just mises a few little words.
Yes we can, make more debts”.
And they do, they make more debts as if there won’t be a tomorrow. And well if they proceed, there surely will be no tomorrow for them quite soon.
Because I see loosing them (the deledefs) as an advantage. I just can ask the member of the parliaments kindly. “Would you mind to give Obama another few trillions please”.
The next vote is just a little over a year. So maybe Obama can ruin the US till then. After that the people may consider what has made the US the economic giant,
If they figure that out, they may vote for a better president… It would serve us all.
That trusting the state with our money was/is one of the worst ideas. Well of course the deledefs will never admit that.
But if this system will break down, there may be a time at which we’ll get a chance. But till then you can help us ending the central banks especially
in one way. Do not give any credit to any state any more. They can tax you, that’s an unfortunate truth, but they can not force you to buy any bonds. At least not world wide and not forever.
Our money of independence is gold. So you better do trust in gold. You an see the deledefs of all countries do not fear anything more but independent people. You can buy independence with using fiat-money as less as possible and while paying as much as you can in cash. States like Italy which are broke forbid, cash payments. They say it’s because of fighting the organized criminality. That’s their argument, but you do not have to believe it. Do you really believe the criminals start paying using bank accounts?
So I invite you: “Join us”. Let’s end the central banks before the central banks finish us….
Great news for all the inaptly European banks out there.
The lender of last resort, does what the FED does for ages, they are printing money. Well it’s not named this of course. Because we live
in time of double-speak. It’s to avoid a credit crunch. And of course the hope is the inaptly banks buy bond from inaptly states.
Is there a way we can influence that? No chance. the ECB is independent and it does not have to follow anything, but usually their laws. And stretching them
is probably the thing Draghi likes the most. And so we go. The ECB funds the defaulted states. What a happy news….
it’s time for a change in the US (amont every other developed country in the world)
Ain’t you Americans so proud of “law and order”?
Now tell me why don’t you stand up for law and just stick ot order(s)? Why are you not standing up for your freedom?
Think about it you have voted for democrats or republicans for ages. Does it have done any good for you?
If the answer is no, wouldn’t it be time to change your voting habits? As I remember you can vote every 5 years or so. It does not matter
how worse your current president is, You always can get rid of them. Wouldn’t it be time to get rid of Obama and all this deledefs?
Why not give Ron Paul a chance. He stands at least for the constitution and civil rights. Wouldn’t that be an option one could try?
And it’s highest time to take back your money from your deledefs. So how about a new gold backed Dollar? Think about it. Would the banks be bailed out
for “real” value? If the answer is no, why do you still believe in paper money?
So I don’t know what you think but I think yes it’s time for a change…
Guess that the democrats and republicans have find an agreement. The agreement is as follows
We can not save so we need more credit
We seriously have tried to save.
We messed it up as usual.
We are not sorry, you have to pay
I remind you of this blog before they raised the credit limit. To 17 trillions or so. Now 1 trillion more is gone in not half a year. Tell me anything about sustainability.
I’m sorry for the US citizens, but you are completely fucked up. Your choice is the choice on how you like to get killed. The result is always the same. You’re dead.
I would change my mind, and give someone else the chance to save if there’s something to save. Vote for Ron Paul and liberalism. Everything else is just
serfdom. You do not have to believe me that. Just have a look at any books written by a liberal and compare you constitution against liberalism. You’ll see that’s the
way the old ones wanted to have the US Not this socialism of either democrats or republics.
in anything you hear from any state. You can bet 99,99 % of it are lies.
I give you but one example: The purchase of Greek bonds. In 2010 the German government asked the banks to buy Greece bonds. A year later they
declared that half of the value of this bonds are “gone”. And it’s of course the speculators which did not buy or sold the bonds which they do not have trusted any more,
which are the defrauders.
It of course not that the deledefs of all countries have collected debts as if they were the most valuable things one could have.
So I repeat myself. don#t believe any promises of states. And do not believe that states will pay their dues. If you believe, you are doomed.
So run to sel all the bonds of states you have and let them crumble. See that you have good relations to producers of food and shelter. Even better see that you can produce food or shelter or
have deal with someone who can. Yes the problem is if you are bound to a country, you are bound to the disposal of the “leaders”. But they can not take everything from you, if they try they sooner or later
will die a miserable death. And it’s not that they want to die, just remember they want but one thing. Live on your expenses.
So I repeat myself don’t believe in anything from deledefs…..
Well if you follow the “wordings” in the debt crisis you’ll see abhorrent and unfortunately very dangerous words.
They are talking about a currency war, and they use the same oratory like in real wars. What the point in that?
There but one enemy in all states it the own government and you won’t hear something about a currency war neither in the US population or ours. We could get along
very well without anyone telling us that the other is our “enemy”. And it’s a plain lie. The day the Euro countries will break down the day thereafter the US will crash.
And the same the other way round.
The deledefs probably know that they all are broke. The official debts alone are enough for breaking the states, but upon that there are the coming debts.
Neither the US nor any Euro country has build reserves for the coming pension payments. Just remember GM? It was broken by promised pension obligations. And that was just
a company which has to “earn” their money. But the pension obligations are gone and taken over by government. And add another promise waited to be broken on the
mountains of broken promises.
The states are the incarnation of inefficiency and waste, but they won’t tell you that sad but honest truth. No on working for bureaucracy in government does do anything good. They are just
burning money. And this money is extorted from the monopoly of force of the governments. So guess that the states do all they can to claim and hold their populations as hostages. And some are more than willing to serve as death camp guards. They do eve believe they do something good. It’s abhorrent.