Stappen de Duitsers uit de Euro?

Short gaan of short selling is een uitdrukking voor het verkopen van effecten die men niet in bezit heeft, om zo te kunnen profiteren van een daling van de beurskoers. Het kan gaan om effecten zoals aandelen en obligaties. Short gaan in afgeleide effecten zoals opties en futures wijkt hiervan af.

Vers vd pers, de Duitsers willen short gaan oftewel short selling verbieden, omdat er momenteel short selling tegen de waarde vd euro aan de gang is op Wall street

Beetje mosterd na de maaltijd en een wanhopige poging de onherroepelijke val vd Euro nog te kunnen voorkomen.

Het is kennelijk een heikel punt binnen de Duitse politieke kringen om een dergelijke maatregel door te voeren.

Alhoewel geen gek idee, daar niet van. Short selling is immers een draak van een financieel product


Market chaos warning after German ban on shorting

Traders are predicting chaos on the world's second-largest government bond market after the German authorities on Tuesday announced a ban on all naked short-selling in European public debt, as well as shares in the country's 10 largest financial institutions.



The unprecedented step saw the euro sink to a four-year low after Germany said that from midnight shorting of credit default swaps of any European government would be banned.
The prohibition is an attempt to counter speculators that Berlin believes are trying to destabilise the region's sovereign bond market.

Traders greeted the move by BaFin, the German regulator, with a mixture of anger and astonishment. One bond trader said he expected Wednesday's trading session to be one of the most volatile in living memory: "It will be complete chaos, I really don't know what the Germans think they are doing."

One immediate effect was that the cost of insuring European government debt fell as markets were hit by a so-called "short squeeze" where investors with short positions are forced to offload their holdings and buy the bonds, causing the price to increase.

This is certain to please the German authorities, who have waged an increasingly hostile war of words with supposed speculators.

BaFin said the ban was being introduced due to "extraordinary volatility in debt securities issued by eurozone countries". It will last until March 31, 2011.

In a statement, it said short-selling had led to excessive price movements "which could have led to significant disadvantages for financial markets and have threatened the stability of the entire financial system". However, traders said that the measures, which will also prohibit the naked short-selling of shares in major German financial institutions, such as Allianz. Commerzbank, and Deutsche Bank, could lead to an immediate backlash from investors around the world.

They added that the ban was likely to be effectively unenforceable. It will not stop traders from shorting the bonds and shares using other European markets.

"Without the two-way flow the German market is likely to become utterly dysfunctional," said one London-based bond trader. "Nobody ever thought they'd do this in a million years and it raises the long-term question of who is now going to want to buy their debt."

Germany, like other European governments, must raise hundreds of billions of euros by selling new bonds, but banning short-selling could jeopardise demand.

Analysts at Bank of America Merrill Lynch summed up the mood with a note titled What's Germany going to ban next? Rainy days, harsh words, the Macarena?

US shares fell as traders began to assess the consequences. After an early rally, the Dow Jones closed down more than 100 points, despite a day of gains for European markets.

The German authority's actions echo those taken by many major Western governments in the wake of the financial crisis in late 2008 following the collapse of US investment bank Lehman Brothers. Britain and the US both temporarily banned shorting bank shares, fearing that speculators could cause the collapse of other major financial institutions.

Speaking to Reuters, Lawrence Glazer, managing partner of Boston-based Mayflower Advisors, said: "The motive is probably more towards limiting volatility and trying to prevent some sort of raid on debt, or equities. We have seen this before, but whenever you see any type of regulatory changes it is worth paying attention."

telegraph.co.uk

[ Bericht 2% gewijzigd door mediacurator op 20-05-2010 03:23:22 ]

Goed stukje van Jane Burgermeister over hyper inflatie in Europa, volgens haar een strategisch plan van de Banken en EU overheden om de economie eerst ten gronden te richten en daar vervolgens weer winsten uit te genereren

Het achterliggende principe waar zij het over heeft is met voorkennis duur verkopen, dan na de val vd economie goedkoop terug kopen.


Why Europe and Germany face economic meltdown, hyperinflation and social upheaval

My father had a doctorate in economics from Vienna University and explained to me many years ago how the current debt crisis would result in hyperinflation -- and how it was all planned.

I did not believe him at the time, but now I see he was right.

The banks and European governments are systematically, deliberately and wilfully engineering the destruction of the eurozone for their profit by means of artificially-created debts and artifically high interest payments.

The controlled mainstream media gives the general public a false and misleading impression of this crisi.

But unless the right action is taken, Europe will soon be in economic ruins, wracked by hyperinflation, social upheaval and prone to wars and totalitarian regimes. The nightmarish history of the 1930s, the Great Depression and the rise of Nazi Germany will repeat itself, but this time on an even larger continent-wide scale.

Today, the EU announced it has sent its first payment of 14.5 billion euros ($18 billion) to Greece allowing the government to make an immediate payment of 8.5 billion euros to banks that hold its souvereign debt, also to Goldman Sachs and Deutsche Bank.

But the 8.5 billion euro payment is just the beginning of the final phase in the eurozone's meltdown.

The governments of the United States and Europe alone will require at least $5 trillion dollars this year for interest payments on their „souvereign debts“ to banks such as Goldmann Sachs, JP Morgan and Deutsche Bank.

Because governments will not be able to find that kind of money from tax hikes and slashing national budgets, including pensions, education etc, the central banks, the European Central Bank and the Federal Reserve, have pledged to buy bonds and so, de facto, have ensured banks get billions via the souvereign debt bond scam.

The more bonds the central banks buy, the higher the risks of a massive increase in the money supply and of inflation, even hyperinflation, wiping out the last vestiges of wealth in the European and US population.

In 2009, the USA government spent almost $2 trillion dollars on interest payments to banks like Goldman Sachs for its „souvereign debt“ (largely due to the "need" for a bank bailout). The Federal Reserve bought 17% of all Treasury issuance last year, and in 2010, borrowing is likely to be more than $2 trillion dollars.

In Europe, the European Central Bank has torn up treaties, agreements, to start giving banks trillions in the form of purchases of bonds for Greek and other souvereign debt.

German Ifo head Hans Werner Sinn explained in the FAZ newspaper how Germany and the EU has turned into a milk cow for the banks:

"Under the cover of the crisis, the European debtor nations are forcing Germany into the transfer union. Because the capital markets are not giving the debtors any more money, other EU states are now doing it,“ he said.

Because the Greek government cannot pay the banks the gigantic interest payments on their paper debts by budget cuts alone, the money has to come from slashing budgets throughout the European Union, including the German budget as well as from the ECB bond buying interventions, and transferring that money to Greece and other nations with a souvereign debt crisis.

Sinn said the new politics of the EU are diametrically opposed to the interest of Germany because they push up souvereign debt interest rates for every country. After all, why should banks and their friends, the credit rating agencies, hold back interest payments rates when they know they can get whatever they want from corrupt governments and the ECB?

Sinn said the decision to give more than a 100 billion euros of German money to banks who hold Greek or other at risk souvereign debt bonds will prolong the phase of capital outflow from Germany, creating an artificial boom in the debtor nations and weakening Germany yet more.

Clemens Fuest told the FAZ that every rule of the eurozone has been broken.

Key articles in EU treaties as well as the German constitution have been trampled on to carry out this looting of European taxpayers under the cover of a 720 billion euro eurozone souvereign debt "bailout" for the banks.

In 2010, it has been estimated that ¤2.2 trillion or $3.1 trillion dollars will be owed in debt interest payments to banks in the UK and in Europe alone.

If the global economy suffers a double-dip recession in 2011 or 2012 because of the credit tightening activities of the banks and because such gigantic sums are being sucked out from the real economy, there could be full-scale debt crisis at the sovereign level.

In addition, the ECB and Federal Reserve plan to buy up so many bonds will result in the worst inflation since the 1970s, highly likely in hyperinflation, wiping out the last traces of any wealth in Europe.

Rating agencies downgrades on sovereign debt will force up interest payments artificially, and also compel pension funds to unload papers, so annihilating the money pools to fund the pensions of millions.

It is vital to remember that this souvereign debt crisis was created in the first place by the banks and the bank bailouts two years ago.

Governments have not run up these debts to spend more money on education, for example. They have run up these debts to give money to the banks and stimulate economies ruined by the bank's artificial subprime and credit crunch fraud.

At the end of 2007, Ireland’s General Government Debt, for example, stood at just 25 per cent of GDP, well below the European average according to Ireland’s National Treasury Management Agency (NTMA).

After borrowing billions to stimulate its economy and after adding bank „losses“ to the national souvereign debt in late 2008 and early 2009 and without any vote in Parliament, the Irish government increased this ratio to an estimated at 64.5 per cent at end of 2009.

Morgan Kelly, professor of economics at UCD (University College Dublin) says in a study, "Whatever happened to Ireland?" that adding Irish bank losses to its national debt will leave Ireland in 2012 with a debt-GDP ratio of 115%, and a debt-GNP ratio as high as 140%, above the ratio that is currently sinking Greece.

http://www.finfacts.ie/irishfinancenews/article_1019701.shtml

If Irish banks eventually lose one third of what they lent to property developers, and one tenth of business loans and mortgages, the net cost to the Irish taxpayer will amoutn to almost one third of GDP, Kelly says.

The Irish banks made these inflated loans and drove up their debt also on the back of a housing bubble they themselves helped create in the first place with cheap credit and the subprime loans.

The SEC is now probing Goldman Sachs and Deutsche Bank’s role in the subprime fraud.

The banks created the housing bubble by subprime loans, and then tightened credit and imploded the housing bubble under the pretext of the „subprime crisis“.

Next, these banks got gigantic infusions of money from the government in the form of bailouts, allowing them to go on a buying spree when everyone else is broke.

Governments borrowed the money to give to cover bank's subprime losses from other banks, so creating the souvereign debt crisis.

By helping to create the souvereign debt crisis, the banks have ensured they have a steady stream of money from the government while pushing economies over the brink, allowing banks to buy up assets for a pittance.

It has been estimated that Ireland will spend ¤5.2 billion – 16% of all tax collected – on servicing a record national debt of ¤116 billion in 2010, as the country pays interest rates of almost 6% to the banks for debts it made to pay these same banks a bailout for the subprime "losses".

Interest payments in Ireland to banks for this national debt will swallow up almost every euro collected in Corporation Tax this year and next, according to Goodbody Stockbrokers.

Just as in the case of Iceland, the tide of debt engulfing the EU has largely been created by banks lending to each other.

For example, Portuguese banks owe $86 billion to their counterparts in Spain, which in turn owe German banks $238 billion and French banks $220 billion.

In short, these banks use the fractional reserve banking system to lend each other huge sums that exist largely only paper and to create debts that no one in the real economy would want or service. They then load these debt onto the government and the governments forces taxpayers to find real money as interest payments for these paper debts.

To finance the interest payments, governments in the EU are raising taxes and cutting spending and so are halting the beginnings of a recovery in northern Europe and worsening the recession created by the banks by their „credit squeeze“ under the pretext of having lost so many billions on subprime loans.

Angela Merkel, Nicolas Sarkozy and Jose Zapatero et al are, at the same, time, ignoring every real solutions to the problem.

For example, Greece has a debt of 300 billion -- albeit engineered with the help of Goldman Sachs.

The IMF loan offered in conjunction with 15 eurozone nations is 110-billion-euros.

But the 110 billion euros money is not going to paying off the principal of the debt so reducing the overall interest payments of Greece even if it were desirable to pay off this paper debt. The 110 billion euros going to pay only interest payments, bit by bit, leaving Greece on its mountain of debt.

Josef Ackermann, the Deutsche Bank CEO, even helped push up the interest payments Greece will have to make also to banks such as his, personally, by talking up the Greek crisis in the media.

So, Greece will use the entire 120 billion euros sucked from taxpyers from the rest of Europe and the worldover the next three years just to pay the interest payments on this paper debt to Deutsche Bank, Goldman Sachs and co.

To raise more money for the banks, the Greek government plans to raise taxes and slash pensions, sending the economy into a depression that will make it harder to raise the revenue to pay the interest payments, forcing the government to make ever deeper „austerity measures“.

The argument in the EU is that reforms will increase the competitiveness of the Greek economy.

The opposite is true.

Slashing the national budget to give gigantic sums to the banks will destroy the economy and leave people with inadequate unemployment benefits at a time when unemployment soars.

The end result will be that the banks and IMF will end up owning half of Greece in a couple of years. This is because they will be the only one with the cash to buy up companies, assets, islands while everyone else goes bankrupt due to the credit tightening and interest payments those same banks imposed.

Banning the hedge funds would bring immediate halt to this crisis.

But Michel Barnier, the EU’s internal market commissioner, passed weak legislation last year in the wake of the 2008 financial crisis, and it only comes into force in December.

The new rules for the hedge funds that played a central role in the credit crunch and souvereign debt crisis are so weak – hedge funds have register should they wish to do business in the EU and disclose their investment – that they will be of little use.

Barnier’s promise to deal “very severely” with the sovereign credit default swap market is all theatre for the general public.

So are Merkel's and Sarkozy's and co public spats.

In addition, a probe into the activities of the credit rating agencies as is occuring in the USA is nowhere in sight in Europe just as there is no probe into the subprime fraud.

The three big agencies – Standard & Poor’s, Moody’s and Fitch – downgrade souvereign debt in Europe, as they please pushing up interest rate payments at will, so ensuring ever more gigantic profits for the banks.

The new rules for rating agencies operating in Europe are also ineffectual. Rating agencies will just have to register, meet certain corporate governance standards and disclose the methodology by which they arrive at their ratings.

Far too little, and far too late.

There are also no plans for a tax on financial transactions that could raise trillions from the banks.

Pledges to reform the financial market are just propaganda being presented to the increasingly angry European public to make it look like Trichet, Merkel, Osborne and co are on the side of the taxpayers when they are actively assisting in a looting on the biggest scale in European history.

http://www.spiegel.de/international/europe/0,1518,695386,00.html

It is not just Greece, Ireland and other countries like Spain that will suffer collapse.

Germany’s economy will eventually collapse as its export markets shrink.

Ownership of German export corporations is now overwhelming in the hands of international corporations – and it is they who profit from the exports not the German shareholders or employees.

Low wages in Germany have also depressed domestic demand.

Germany’s capital has flowed outwards to finance housing bubbles in the rest of europe leaving Germany with little capital to invest in its manufacturing base or in education.

Also, the German government and the federal states are burdened with trillions in debt made often through waste, such as the purchase of the swine flu jabs (cheaper than paying pensions after all).

While Merkel and Schäuble and Koch trample all over the EU treaties and German constitution when it comes to handing money to banks, the EU treaties are suddenly sacred when it comes to slashing the national budget to find the money for the banks.

Germany’s only hope of surviving this robbery by the banks and their political class is to ditch the euro and enter into a smaller currency union around a hard currency or reintroduce the D Mark at the right exchange rate to increase the purchasing power of Germans.

Speculators would have to be regulated to stop them driving up the D Mark’s exchange rate artificially to bankrupt exporters, and capital controls would have to be introduced.

Learning from the nightmarish hyperinflation of the 1930s which paved the way for the social catastrophe that allowed the Nazis to rise to power, Germany gave up the D Mark on the condition that the euro remains a „hard currency.“ This condition is anchored in the Contitution and in the EU treaties.

Now Merkel and Schäuble et al are breaking every law to print money for the profits of the banks, risking hyperinflation, social upheaval and war.

German Defence Minister Karl Theodor zu Guttenberg is already escalating the Afghanistan war - and at the same time ensuring sales of tanks to the German army from the same banker-owned military industrial complex.

Just as in the 1930s, war offers a way for the banksters to rob people, send them to some front to kill them while making yet more money and gaining more power.

Never again, Germany.

Stand up and say no to this robbery. Say no, to plans for hyperinflation, a totalitarian state and war.

Nie wieder. Nein.

theflucase.com

Restoring confidence in euro top priority: Germany


Eurogroup President and Prime Minister of Luxembourg Jean-Claude Juncker arrives at the European Council building ahead of the Euro Zone leaders summit in Brussels in this May 7, 2010 file photo. REUTERS/Thierry Roge

On Thursday May 20, 2010, 9:27 am EDT
By Marc Jones and Paul Carrel

BERLIN (Reuters) - Germany said restoring confidence in the euro was its "top priority," demanding tougher regulation and oversight on Thursday to protect the single currency, and joint EU action on withdrawing support for its economies.

German Chancellor Angela Merkel said the euro zone's problems must be tackled at their root, telling a financial conference rules governing the single currency zone should be tightened.

The euro slumped to a four-year low on Wednesday after a unilateral German move to ban naked short selling on some instruments exposed political divisions in Europe and stoked fears of tighter financial regulation.

Naked short selling involves selling a financial instrument without first borrowing the instrument or ensuring that it can be borrowed, as would be done in a conventional short sale.

Underscoring the splits within the European Union, France, still smarting from Germany's failure to consult it on the ban, said it did not agree with Merkel's comment on Wednesday that the euro was under threat.

"I absolutely do not think that the euro is in danger," French Economy Minister Christine Lagarde told RTL radio on Thursday. "The euro is a solid and credible currency."

Germany is the main EU paymaster in a 110 billion euro bailout with the International Monetary Fund (IMF) of debt-bound Greece and in a $1 trillion safety net for other vulnerable euro zone nations.

But Merkel, forced to ditch an electoral promise of 16 billion euros in tax cuts to fund the rescue packages, is under pressure at home after voters angered by the Greek debt crisis punished her coalition in a key regional vote.

"The top priority is to restore confidence in the euro. This will only be achieved if the measures are supplemented by regulation and oversight. There is acute need for action," German Finance Minister Wolfgang Schaeuble said.

"IRRATIONAL MARKETS"

Markets are also keen to see how the European Union will unwind expansionist monetary policies designed to support economies during the global meltdown, and Merkel called for coordinated action at European level.

"The issue of exit strategies is of great importance to us. Quite frankly I am quite concerned about this issue," Merkel said. "We will focus on a coordinated exit strategy in Europe."

Jean-Claude Juncker, chairman of the Eurogroup forum of euro zone finance ministers, said the weakness in the euro, down more than 7 percent against the dollar in the past month alone, was likely due to fears that economic growth in the 16 countries that share the currency will slow.

Greece has been forced to impose drastic austerity cuts as the price for the EU bailout, while Spain and Portugal, seen as the markets' next potential targets, have also embarked on painful public spending cuts to rein in their deficits.

Analysts now fear the drive to restore fiscal balances will slow down economies in the European Union just as they recover from the sharp global downturn.

Juncker said markets were acting irrationally.

"There is a certain reluctance to believe the Greeks can overcome the current crisis. I don't think the markets are behaving in a rational way," he told Reuters in Tokyo.

Speaking to reporters after meeting Japanese Finance Minister Naoto Kan, he said he did not see the need to take immediate action on the euro's rapid plunge, but that central banks were in close contact.

The euro rebounded late on Wednesday as traders covered short positions on speculation European monetary officials might move to check its rapid fall.

Greeks began a 24 hour general strike on Thursday in protest against the austerity measures demanded by the European Union and the IMF in exchange for the bailout.

China said the euro crisis was adding to global uncertainties, a factor underlined by weakness in stock markets.

"The European sovereign debt crisis is a challenge not just for the countries that are party to it, such as Greece. In fact, it is a challenge to the stability of the entire international financial market," said assistant finance minister Zhu Guangyao.

"It concerns the recovery of the entire international economy, and so it demands a common response from the international community," he said.

(Additional reporting by Stanley White and Holger Hansen; Writing by Jon Boyle; Editing by Kevin Liffey)

finance.yahoo.com

De laatste tijd veel artikelen over het opheffen van de eurozone


Hoeveel de gulden en andere munten waard zouden zijn bij opheffing eurozone

De voor- en nadelen van het verlaten van de eurozone



Al (of nog) heimwee?

Het $ 1 biljoen grote interventiefonds van de EU heeft niet kunnen voorkomen dat de koers van de euro fors gedaald is. Op 17 mei belandde de euro op een 4 jarig dieptepunt tegenover de Amerikaanse dollar, en veel niet-Europese analisten zien dan ook binnen maximaal twee of drie jaar het einde van de Europese eenheidsmunt. Stel dat de eurozone nú opgeheven zou worden en alle landen hun eigen valuta weer zouden invoeren, hoeveel zouden deze dan waard zijn? Wat zouden we bijvoorbeeld voor onze gulden terugkrijgen?


De munten van de landen die tot de eurozone toetraden deden dit met een 'onherroepelijke omwisselkoers'. Het IMF hanteert deze vaste waarden bij het opstellen van haar World Economic Outlook en vergelijkt ze met gegevens van voor 1990. Met behulp van deze waarden en een eurokoers van $ 1.236 (peildatum 14 mei) (inmiddels weer iets hoger, nl. $ 1.258) kan bepaald worden hoeveel dollars de oude Europese munten op dit moment waard zouden zijn:

Belgische Franc
Omwisselkoers: 40,3399 per 1 euro
Huidige koers: 32,6375 per 1 dollar

Cypriotische Pond
Omwisselkoers: 0,585274 per 1 euro
Huidige koers: $ 2,1118 voor 1 Cypriotische Pond

Duitse Mark
Omwisselkoers: 1,95583 per 1 euro
Huidige koers: 1,5824 per 1 dollar

Finse Mark
Omwisselkoers: 5,94573 per 1 euro
Huidige koers: 4,8105 per 1 dollar

Franse Franc
Omwisselkoers: 6,55957 per 1 euro
Huidige koers: 5,3072 per 1 dollar

Griekse Drachme
Omwisselkoers: 340,750 per 1 euro
Huidige koers: 275,6877 per 1 dollar

Ierse Pond
Omwisselkoers: 0,787564 per 1 euro
Huidige koers: $ 1,5694 per 1 Ierse Pond

Italiaanse Lire
Omwisselkoers: 1936,27 per 1 euro
Huidige koers: 1566,56 per 1 dollar

Luxemburgse Franc
Omwisselkoers: 40,3399 per 1 euro
Huidige koers: 32,6375 per 1 dollar

Maltese Lire
Omwisselkoers: 0,42930 per 1 euro
Huidige koers: $ 2,8791 per 1 Maltese Lire

Nederlandse Gulden
Omwisselkoers: 2,20371 per 1 euro
Huidige koers: 1,7829 per 1 dollar

Oostenrijkse Shilling
Omwisselkoers: 13,7605 per 1 euro
Huidige koers: 11,1320 per 1 dollar

Portugese Escudo
Omwisselkoers: 200,482 per 1 euro
Huidige koers: 162,202 per 1 dollar

Sloveense Tolar
Omwisselkoers: 239,640 per 1 euro
Huidige koers: 193,883 per 1 dollar

Slowaakse Koruna
Omwisselkoers: 30,1260 per 1 euro
Huidige koers: 24,3738 per 1 dollar

Spaanse Peseta:
Omwisselkoers: 166,386 per 1 euro
Huidige koers: 134,617 per 1 dollar

Harvard econoom Ken Rogoff verklaarde tegenover CNBC dat de EU, om de stabiliteit te waarborgen, er waarschijnlijk beter aan zou doen om Griekenland en Portugal uit de eurozone te zetten. (1)

De omwisselkoers van de gulden lijkt naar verhouding heel behoorlijk. In de periode 1982-2001 was de Amerikaanse dollar alleen in 1992 (1,7563), 1995 (1,6062) en 1996 (1,6856) minder duur. (2)

Op de economische website Z24 stond twee weken een interessante analyse over de voors en tegens van het opnieuw invoeren van de gulden. In het kort:

Voordelen:
- Nu er tegen de afgesproken regels in toch kostbare bailouts en noodfondsen zijn doorgevoerd is er sprake van 'contractbreuk' en heeft Nederland alle recht uit de eurozone te stappen.
- We hoeven geen -mogelijk tientallen- miljarden uit te geven om Griekenland -en straks ook andere landen- te redden.
- We kunnen ons eigen monetaire beleid voeren, afgestemd op onze eigen economie.
- Zweden en Denemarken zijn EU landen die de euro niet hebben ingevoerd, en die daar beslist geen last van hebben gehad - integendeel.
- De invoering van de euro koste Nederland 7 miljard gulden, omgerekend ¤ 3,8 miljard. Dat is minder dan de ¤ 4,8 miljard die we aan de Grieken gaan 'lenen' (geld dat volgens velen nooit meer terugkomt).

Nadelen:
- Nederland uit de eurozone betekent in principe Nederland uit de EU. Dat levert Nederland als handelsland waarschijnlijk enorme schade op.
- Bij een flexibele wisselkoers van de gulden gaan we onzekere tijden tegemoet. Bij een vaste wisselkoers t.o.v. de euro zitten we toch weer vast aan de eurozone.
- Kans dat internationale bedrijven -maar ook Nederlandse banken en pensioenfondsen- hun vermogen uit Nederland halen en vertrekken naar het buitenland, bijvoorbeeld Duitsland.
- De Nederlandse staatsschuld moet toch in euro's worden afgelost, wat een koersdaling van de gulden veroorzaakt die miljarden gaat kosten.
- Nederlandse banken en pensioenfondsen hebben nog enorm veel staatsobligaties van andere eurolanden. Gulden of euro, als sommige van deze landen omvallen is de schade voor hen daarom even groot.

Conclusie?
Alleen een gezamelijk vrijwillig opheffen van de eurozone óf het uitstappen uit de eurozone met een paar sterke landen tegelijk (zoals Duitsland en Finland) maakt een goede kans van slagen. Want het zou namelijk ook goed kunnen dat de eurozone, zoals veel niet Europese experts verwachten, bezwijkt onder de enorme schuldenlast van met name de Zuid Europese lidstaten, en ook wij worden meegezogen naar de financiële afgrond. Gezien het tanende vertrouwen in de eurozone zou het gezamelijk uitstappen in ieder geval als een zeer reële optie onderzocht moeten worden.


Xander

(1) CNBC
(2) De Nederlandsche Bank
(3) Z24

[ Bericht 0% gewijzigd door mediacurator op 22-05-2010 22:07:11 ]

quote:

Op zaterdag 22 mei 2010 21:36 schreef Bruno25 het volgende:

[..]

Dus toch een Neuro en een Zeuro?

Conclusie; genoeg ge zeuro, weg met die euro!

quote:

Op zondag 23 mei 2010 10:58 schreef Fokski het volgende:

[..]

Dat is gewoon de euro (Duitse mark maal de vaste wisselkoersen) een dollar is 1,5798 DM waard niet andersom.

1 Euro = 1.95583 DM
De euro is was op 14 mei dus 1,95583/1,5798 zo'n 1,238 waard.

dank voor de correctie, dat was een foutje

had ik inmiddels al gedaan middels mijn update hierboven

quote:

Duitse Mark
Omwisselkoers: 1,95583 per 1 euro
Huidige koers: 1,5824 per 1 dollar

oudere posts kan ik niet meer editten

Max Keiser Report op RT - Stukken uit rechtszaak wijzen uit dat de wereld in de greep is van een crimineel "suicide bankers" (kamakazi bankiers) netwerk die met opzet de wereld economie willen vernietigen om zodoende hun machtspositie te versterken!

quote:

This time Max Keiser and co-host, Stacy Herbert, look at the scandals of naked short selling, supplementary liquidity providers and the conspiracy of banks. In the second half of the show, Max interviews Jim Rickards about naked short selling and overwhelming the specialist system, Wall Street banks undermining Greece and Goldman Sachs as an undeclared national enemy.

[ Bericht 0% gewijzigd door mediacurator op 27-05-2010 02:06:31 ]

He eindelijk weer eens een nieuwtje te berichten gezien dit artikel in Bild.de waarin de beruchte Bilderberg bijeenkomst breed uitgemeten wordt,

Op zich opmerkelijk gezien hiermee blijkbaar is gebroken met een traditionele soort media stilte rondom de Bilderberg bijeenkomsten. De Bilderbergconferentie van 2010 zal plaatsvinden in de Spaanse badplaats Sitges.

De vraag wordt gesteld of de Bilderberg bobo's de EURO AM WOCHENENDE nog uit de put zullen halen, uit een recente enquête was al gebleken dat inmiddels 64% vd Duitsers terug naar de DM willen.

Geef ze eens ongelijk en wens ik de Bilderbergers nog veel success met het redden vd Euro !



BILDERBERG-TREFFEN
Geheim-Gipfel zur Eurokrise!

Der Geheim-Gipfel mit hochrangigen Persönlichkeiten, unter anderem aus Politik und Wirtschaft, heißt offiziell Bilderberg-Treffen. Bilderberg?
Es ist so etwas wie eine geheime Weltregierung, munkelt man. An diesem Wochenende trifft man sich im spanischen Sitges.
Das Gelände rund um das Dolce Hotel ist abgeriegelt. Rund 350 Polizisten halten Demonstranten und neugierige Besucher fern. Ihre Sorge: Militante Globalisierungsgegner wollen gegen das Treffen protestieren.
Nur so viel ist bisher durchgesickert: 130 führende Köpfe aus Wirtschaft, Politik, Medien, Militär und Hochschulen werden über die dringenden Themen der Welt sprechen.
Wer genau dem illustren Kreis beiwohnt... geheim!
Spekuliert wird: Große Bankhäuser (Goldman Sachs, Deutsche Bank) sind vertreten. Eine Euro-Diskussion liegt daher mehr als nahe.
Was über die Konferenz bekannt werden soll, wird veröffentlicht. Der Rest bleibt geheim.
Die illustre Liste der ehemaligen Bilderberg-Teilnehmer ist lang. Bundeskanzlerin Angela Merkel (CDU), Guido Westerwelle (FDP), Helmut Schmidt und führende Wirtschaftsbosse wie Jürgen Schrempp (Daimler) und Deutsche Bank-Chef Josef Ackermann.
1954 wurde das jährliche Zusammenkommen ins Leben gerufen. Urheber: Prinz Bernhard der Niederlande. Erster Tagungsort: Hotel Bilderberg in Oosterbeek.
Eine feste Organisationsstruktur gibt es nicht, keine Mitgliederliste, keine Gründungsurkunde. Es gibt einen Vorstand und einen Lenkungsausschuss, der die Teilnehmer eines jeden Treffens auswählt.
Übrigens: Der Euro ist am Freitag unter die Marke von 1,21 Dollar gefallen.
Die europäische Gemeinschaftswährung war zwischenzeitlich nur noch 1,2038 Dollar wert und damit so wenig wie seit über vier Jahren nicht mehr.
Jetzt schaltet sich Bilderberg ein. Retten SIE am Wochenende den Euro?


Bron: Bild.de

quote:

Op dinsdag 8 juni 2010 02:56 schreef HiZ het volgende:
Mijn God, wat een belachelijk topic weer. Het land dat het meest heeft geprofiteerd van de euro zou er uitstappen? Alsof de Duitsers zo blij moeten zijn met een situatie waarin de munten van z'n grootste export-partners dalen waardoor hun export steeds duurder en moeilijker wordt.

Het idee dat de Duitse staatsschuld als een soort default kan worden omgezet in minder waardevolle 'buitenlandse' munten is ook iets wat me doet schuddebuiken.

Overigens, dat verhaal over die serie-nummers hoort in het soort onzinverhalen dat je als sinds 2002 in de britse pers leest.

Wat dacht je van een ingezonden brief richting Bild.de in plaats van hier de boel onder te kotsen? Mag je zo meteen wel even opruimen trouwens.

Die D-Mark ist wieder da!



bron: bild.de

(Bitte auch die Niederlandische Gulden wieder da)

quote:

Op zaterdag 12 juni 2010 15:05 schreef HiZ het volgende:
Zucht, een of andere gimmick van een website en 'Die D-Mark ist wieder da'. Dat de euro ondertussen aanzienlijk harder is geweest dan de D-mark ooit was wordt voor het gemak maar genegeerd.

De euro staat op het punt in te storten man, of lees je nooit n krant?

[ Bericht 0% gewijzigd door mediacurator op 12-06-2010 16:28:09 ]

quote:

Op zaterdag 12 juni 2010 17:34 schreef HiZ het volgende:

[..]

De euro staat helemaal niet op instorten.

Euro 'will be dead in five years'

The euro will have broken up before the end of this Parliamentary term, according to the bulk of economists taking part in a wide-ranging economic survey for The Sunday Telegraph.



The single currency is in its death throes and may not survive in its current membership for a week, let alone the next five years, according to a selection of responses to the survey – the first major wide-ranging litmus test of economic opinion in the City since the election. The findings underline suspicions that the new Chancellor, George Osborne, will have to firefight a full-blown crisis in Britain's biggest trading partner in his first years in office.
Of the 25 leading City economists who took part in the Telegraph survey, 12 predicted that the euro would not survive in its current form this Parliamentary term, compared with eight who suspected it would. Five declared themselves undecided. The finding is only one of a number of remarkable conclusions, including that:

• The economy will grow by well over a percentage point less next year than the Budget predicted in March.
• The Government will borrow almost £10bn less next year than the Treasury previously forecast, despite this weaker growth.
• Just as many economists think the Bank of England will not raise rates until 2012 or later as think it will lift borrowing costs this year.
But the conclusion on the euro is perhaps the most remarkable finding. A year ago or less, few within the City would have confidently predicted the currency's demise. But the travails of Greece, Spain and Portugal in recent weeks, plus German Chancellor Angela Merkel's acknowledgement that the currency is facing an "existential crisis", have radically shifted opinion.

Two of the eight experts who predicted that the currency would survive said it would do so only at the cost of seeing at least one of its members default on its sovereign debt. Andrew Lilico, chief economist at think tank Policy Exchange, said there was "nearly zero chance" of the euro surviving with its current membership, adding: "Greece will certainly default on its debts, and it is an open question whether Greece will experience some form of revolution or coup – I'd put the likelihood of that over the next five years as around one in four."
Douglas McWilliams of the Centre for Economics and Business Research said the single currency "may not even survive the next week", while David Blanchflower, professor at Dartmouth College and former Bank of England policymaker, added: "The political implications [of euro disintegration] are likely to be far-reaching – Germans are opposed to paying for others and may well quit."
Four of the economists said that despite the wider suspicion that Greece or some of the weaker economies may be forced out of the currency, the most likely country to leave would be Germany.
Peter Warburton of consultancy Economic Perspectives said: "Possibly Germany will leave. Possibly other central and eastern European countries – plus Denmark – will have joined. Possibly, there will be a multi-tier membership of the EU and a mechanism for entering and leaving the single currency. I think the project will survive, but not in its current form."
Tim Congdon of International Monetary Research said: "The eurozone will lose three or four members e_SEnDGreece, Portugal, maybe Ireland e_SEnD and could break up altogether because of the growing friction between France and Germany."
The recent worries about the euro's fate followed the creation last month of a $1 trillion (£691bn) bail-out fund to prevent future collapses. Although the fund boosted confidence initially, investors abandoned the euro after politicians showed reluctance to support it wholeheartedly.

bron: telegraph.co.uk

quote:

Op zaterdag 12 juni 2010 17:41 schreef du_ke het volgende:

[..]

Nonsens

Europese leiders zoeken oplossing voor euro-crisis

quote:

Op zaterdag 12 juni 2010 17:38 schreef Oksel het volgende:
Wat een bullshit.

en jij kan ook wel wat educatie gebruiken

2010 European sovereign debt crisis

bron: wiki

quote:

Op zaterdag 12 juni 2010 20:14 schreef HiZ het volgende:

[..]

Goh, de Telegraph die een stukje euro-optimisme vertoont ten opzichte van de normale houding. De euro staat niet op instorten maar heeft nog vijf hele jaren te gaan

Je weet je bronnen wel te zoeken. Kun je er ook nog eentje vinden voor 'Turkies for Christmas" ?

Jij bent typisch zo iemand die de hele avond 06 nummer reclames kijkt en dan klaagt over te veel blote vrouwen op TV, echt zinloze soort mensen zijn dat

quote:

Op zondag 13 juni 2010 11:13 schreef Nieuwschierig het volgende:
Sorry maar ik gooi dit topic nu uit m'n MYAT

ik ook! dit topic is niet MYAT waardig!

Eurozone faces imminent meltdown, reports Telegraph

Spain plays high-stakes poker game with Germany as borrowing costs surge


Jobseekers line up at an employment office in Madrid, Spain.

"We're not afraid of transparency," said the Spanish Banking Association (AEB), saying the full truth would put an end to rumours battering Spain's instutitions. El Pais reported that the government backs the initiative, putting it on a collision course with Germany which insists on secrecy.

Josef Ackermann, head of Deutsche Bank, warned last week that it would be "very dangerous" to publish the results of each bank, fearing that it would trigger flight from weak lenders and set off a chain reaction.

The Spanish authorities have little to lose by publishing the data given the near paralysis in the country's debt markets. Funding is frozen for much of the private sector.

Spain was pummeled yet again on Tuesday as credit default swaps (CDS) measuring bond risk on Spanish debt jumped to 245 basis points, approaching an all-time high.

Default insurance for Greece rocketed after Moody's downgraded it to junk on Monday, forcing bond indexes to sell up to ¤20bn of Greek debt. Ireland and Portugal also jumped sharply, with mounting credit stress in Belgium following the electoral triumph of Flemish separatists.

An auction of Spanish debt yesterday underlined how fast the situation is deteriorating. Yields on one-year debt reached 2.45pc compared to 0.9pc as recently as April, suggesting that the markets do not view the EU's ¤750bn rescue shield as credible.

Francisco Gonzalez, chairman of BBVA, stunned investors earlier this week by admitting that "the majority of the Spanish companies and financial groups are shut out of the international capital markets".
He said the country's external debt had reached ¤1.5 trillion or 147pc of GDP, much of it on short-term maturities. "This debt has become our most overwhelming problem, since ¤600bn falls due this year," he said.

Analysts say the call for release of the stress test results is a veiled attack on Germany, retaliation for German media reports – fed by sources in Berlin – claiming that Spain is about to tap the EU's bail-out fund.

Spain's two heavyweights, Santander and BBVA, are well capitalised, though there are concerns that Spain's accounting rules mask the full horror of bad debts in the property sector. The problem lies with savings banks or cajas that are not part of the EU test. These are being kept afloat by the European Central Bank, with loans equal to 20pc of their balance sheets.

By contrast, some German banks may look very ugly. An internal memo last year by the regulator BaFin feared that write-offs might reach ¤800bn. German banks have accumulated a double set of loses from both US subprime and the Club Med debt crisis. They have the lowest risk-adjusted capital ratios in the world after Japan and have not exploited the global rally to rebuild their base.

Jose Garcia Zarate, credit strategist at 4cast, said Madrid is powerless at this stage. "There is absolutely nothing the Spanish government can do to get their message through. They have lost all market credibility and nobody is listening to them any longer," he said.

Mr Garcia said the country is in a "Catch-22" situation. Madrid has slashed public wages by 5pc this year in a show of discipline, only to find that the markets have now moved the goal posts and fear austerity will choke recovery.

"My view is that it would be suicidal for Madrid to use the rescue fund. The moment they pick up the phone and start talking about this, it is the end of any remaining hope for the single currency. Spain's government just has to put on a brave face, pay the higher yields, and hope for the best," he said.

[ Bericht 0% gewijzigd door mediacurator op 17-06-2010 18:01:52 ]

Germany Austerity Deal Trying To Save Itself



German Chancellor Angela Merkel's coalition government has taken another hit and some fear it may not last until the end of its term. This follows protests against a proposed hundred billion dollar austerity package. Leaders are dealing with the fallout over the bailout for Greece and an even larger package to rescue the single currency.

Spaanse economie = exit? Spaanse regering plunderen de pensioen fondsen in een poging de obligatie markt overeind te houden.

Spain uses social security fund to prop up the bond market

By Ambrose Evans-Pritchard Economics Last updated: August 24th, 2010
176 Comments Comment on this article

Spain is putting all its eggs into one basket, and if it carries on like this, we may start to see a lot of Basques and Catalans crowding into one exit.

The state pension fund – the ¤64bn Fondo de Reserva, known as the ‘hucha de las pensiones‘ – is buying Spanish sovereign debt at a vertiginous pace.

The financial daily Cinco Dias reports that the share of the Fondo’s total portfolio invested in Spanish government bonds rose from below 50pc in 2007 to 76pc in 2009.

The Social Security minister Octavio Granado said it will rise to 90pc by the end of this year.
It is clear from an analysis of the data that the Fondo is not just investing fresh revenues in Spanish bonds, but also rotating out of Dutch, French, and German bonds into Spanish debt. The Spanish government is also funnelling 90pc of its sickness fund into state bonds.

Evidently, Spanish savers are underpinning Madrid’s Treasury auctions, whether they like or not. It is they who are mopping up the debt along with the European Central Bank as foreign creditors stay away. The Bank of New York Mellon said that its iFlow data on bonds reveal that foreign demand for Spanish debt has “dried up” again after a brief recovery in July. There has also been some “net selling” of French bonds. I think we will hear more of that Gallic sub-plot over the next year.

Here is a link to the last annual report of the Cortes Generales, packed with detail, including this chart:



Sr Granado said the sole motive for the purchases is to reap a higher yield. Spanish 10-year bonds were trading yesterday at 173 basis points over German Bunds. But there again, spreads on Greek bonds were at 853 points, so if yield is what you want – and if you believe EU assertions that default/EMU exit by any eurozone member is preposterous – then why not buy Greek debt? Unless, unless, but let’s not labour the point.

I am grateful to the splendid Edward Hugh at A Fistful of Euros for bringing this to my attention. Dr Hugh lives in Barcelona and is highly valued by the Spanish media as one of the few analysts who saw the whole disaster coming, and why it was coming – namely the perverse mechanisms of EMU on a peripheral economy in a catch-up-phase with a higher growth rate than Carolingia, and therefore a need for a higher interest regime (ceteris paribus) during the boom.

http://blogs.telegraph.co(...)-up-the-bond-market/

Nee, 't gaat echt geweeeldig met de euro!





[ Bericht 20% gewijzigd door mediacurator op 27-08-2010 14:57:33 ]

quote:

Op vrijdag 27 augustus 2010 14:17 schreef Tijger_m het volgende:
Wat, is de euro nog steeds niet in elkaar gestort? Je voorspelt al maanden in dit topic het einde van de euro en...niets. Hoe nu?

Die gasten van NWO en Bilderberg werken wel erg langzaam, he?

uhhh

Komst nieuwe financiële crisis voorzichtig erkend in mainstream media



'Dankzij' de bailouts van onze banken is onze nationale schuld opgelopen tot 467% van het BNP, het op één na hoogste percentage ter wereld.

Onafhankelijke economen, financiële experts en bloggers schrijven er al sinds begin 2009 over, en nu begint het eindelijk langzaam door te dringen tot de mainstream media: er komt een nieuwe financiële en economische crisis aan die de vorige van 2008-2009 compleet in de schaduw zal stellen. Meer nog: de eerste crisis blijkt zoals eerder aangetoond feitelijk nooit te zijn opgelost, maar slechts kunstmatig verbloemd door miljarden kostende bailouts en economische stimulansmaatregelen. Nu dat effect vrijwel is uitgewerkt zullen we waarschijnlijk al in de komende maanden de keiharde -en zeer langdurige- rekening gepresenteerd krijgen.

lees meer

quote:

Op zaterdag 28 augustus 2010 08:27 schreef Ron_Jeremy het volgende:

[..]

Oh echt waar joh?

Nee, het is porno l*l

[ Bericht 0% gewijzigd door mediacurator op 08-09-2010 11:13:11 ]

Schuldencrisis Eurozone gaat kritieke fase in
Duitse topeconoom: 'Tweede Griekse crisis is aangebroken - Risico op burgeroorlog Griekenland door bezuinigingen - Griekenland moet uit eurozone'



Beeld van de hevige Griekse rellen in mei van dit jaar. Een Duitse topeconoom waarschuwt dat de zware bezuinigingen in Griekenland zelfs een burgeroorlog kunnen veroorzaken.

Volgens de toonaangevende krant Financial Times gaat de schuldencrisis in de Eurozone vanaf september een kritieke fase in, omdat veel Europese landen de komende maanden tientallen miljarden extra nodig hebben om hun uitgaven en tekorten te kunnen financieren. Sommige analisten waarschuwen dat de zwakkere economiën hier mogelijk niet toe in staat zullen zijn en we een nieuwe, ernstigere 'Griekse' crisis gaan krijgen.

De landen die grote risico's lopen zijn met name Spanje, Portugal en Ierland. Internationale financiers maken zich nog steeds zorgen over de gezondheid van de banken en economiën van deze landen. Spanje moet de rest van dit jaar maandelijks zo'n ¤ 7 miljard bij elkaar zien te krijgen, het dubbele van het bedrag in augustus (¤ 3,5 miljard). In totaal hebben de overheden van de Eurozone in september ¤ 80 miljard nodig, tegenover 'slechts' ¤ 43 miljard in augustus.

Xander