Wednesday, November 2, 2011

Greece in meltdown

From the Daily Mail:

Europe was teetering on the edge of disaster last night as fears grew that the Greek government is about to collapse.

Markets nosedived around the world, with billions wiped off the value of Britain’s leading firms, as Athens announced extraordinary plans to sack its military leaders amid rampant speculation that it was trying to head off a coup d’etat.

‘It’s all over. The government is about to collapse,’ said one Greek official. Greece’s former deputy finance minister Petros Doukas agreed: ‘The **** has hit the fan.’

Greek ministers this morning voted unanimously for a referendum on the bailout deal to take place in December, backing the proposal made by Prime minister George Papandreou as he fought to save his own skin.

'The referendum will be a clear mandate and a clear message in and outside Greece on our European course and participation in the euro.

'No one will be able to doubt Greece's course within the euro.'

Economists warned that if Greece rejects the debt deal hammered out only last week, which would entail years of austerity, the entire future of the single currency is in peril.

They predicted that Italy, Spain and Portugal are likely to be plunged into a profound economic crisis because of their failure to get to grips with their towering debts.

Read more:

Dees comments

William Engdahl: Global crisis is part of superpower breakdown

From: RTAmerica  | Nov 1, 2011  |
All over the world there are economic issues that are affecting millions of people worldwide. As the Euro and the dollar decline many protesters have hit the streets to show their resistance to the way things are being handled economically. According to some, the Libyan situation is a desperate attempt at a power grab by the US. Author William Engdahl sits down with Irina Galushko and explains why we are in a global crisis.

I don't think the Kenyan will be getting his bond back

As the financial world burns the current tenant of The White House kicks back and soils the nation's heritage.

An excellent series photos of Barry kicking back.

I can see Lincoln in the background not looking amused

see the full litany of disrespect here

Stephen Leeb "Saudi Arabia Could Price Oil in Gold and Yuan"

Stephen Leeb is one of my favourite analysts, but he is often so far ahead of the game that he can come across as a bit odd, a bit like Moses building the Ark on a bright sunny day.

From: RTAmerica  | Nov 1, 2011

Sorry for this video ending at a break, if RT puts up part 2 of this interview I'll add it here.

American Dream - American Awakening gaining momentum

From: PressTVGlobalNews  | Nov 1, 2011  | 187 views

Domino Effect? 'Debt unpayable, Greece to exit Euro mess'

From: RussiaToday  | Nov 1, 2011  

Thousands of anti-capitalists are marching in the French Riviera ahead of the G-20 summit in Cannes. Groups of international activists are urging the leaders of the world's top economies to focus on people, not finance. James Meadway from the New Economics Foundation shares his view on the crisis that's strengthening its grip on Europe.

Greece Decision Roils Markets Across Globe

From: AssociatedPress  | Nov 1, 2011

Banksters, Busts and History

It took 150 years to blow up the banking sector - a brief history of a slow detonation. From Freedomain Radio -

Post Halloween slaughter of European Zombie Banks

Adam Fergusson talks to James Turk

By on Oct 30, 2011

Banks slide on Greek bailout vote plan

From: Euronews  | Nov 1, 2011

Gold Melts as European Paper Burns

As European (and US) markets for paper instruments continue to burn, gold merely melts.

and some words of wisdom from Jim Rickards

Keiser Report: Speculators Win Again

Obviously with Socgen off 17% and Italian banks circling the drain this Keiser Report was recorded a few days ago, but still very much worth watching.

From: RussiaToday  | Nov 1, 2011

Euro stocks continue to plunge