Merkel’s Coalition Calls for EU ‘Orderly’ Defaults

” We are on the verge of a global transformation. All we need is the right major crisis and the nations will accept the New World Order. ” – David Rockefeller

Merkel’s Coalition Calls for EU ‘Orderly’ Defaults
http://www.bloomberg.com/apps/news?pid=20601087&sid=aQdqR8poZMoo

May 4 (Bloomberg) -- German Chancellor Angela Merkel’s coalition stepped up calls for allowing the “orderly” default of euro-region member states burdened with debt to avoid a repeat of the Greek fiscal crisis

thx Ian been watching merkel for at while now hope and pray he lost the elections

Just my gut feeling...That is if the Euro does not break up. Once Euro hits parity with the Dollar, we will see the yuan revaluation.
TIME FOR A VACATION: Euro Crashes Below $1.24

http://www.businessinsider.com/time-for-a-vacation-euro-crashes-below-124-2010-5

when is the german elections?

last week he lost his party in
http://en.wikipedia.org/wiki/North_Rhine-Westphalia_state_election,_2010
http://www.spiegel.de/international/germany/0,1518,693662,00.html

Euro to fall 'Rapidly' to $1.03 After Breaching $1.19: Charts
http://www.cnbc.com/id/37098886

Like I said before, Euro reaches parity with USD. Yuan undergoes major revaluation. We have one USD = One Euro = One yuan. Voila, Global currency...All major powers can compete on equal footings in the manufacturing sector. No one will complain about the unfairness of currency manipulation by China.
Looks like the elites have come to terms...

Geithner Says He's Confident China Will Allow Yuan to Rise Against Dollar U.S. Treasury Secretary Timothy F. Geithner said he is “confident” China will allow the value of the yuan to rise against the dollar.
http://www.bloomberg.com/apps/news?pid=20601089&sid=av93C2IgVD6g

France, Singapore Officials Say It's in China's Interest to Let Yuan Rise A revaluation of the yuan would improve economic conditions in China, according to finance ministers from France and Singapore.
http://www.bloomberg.com/apps/news?pid=20601089&sid=ajUIWfajB1gQ

China to Resume U.S. Pork Imports in May, Ending Last Year's Swine Flu Ban China, the world’s largest producer and consumer of pork, has agreed to resume imports of U.S. pork produced on or after May 1, ending a ban imposed following the swine flu outbreak last year, according to a unit of the U.S. Department of Agriculture.
http://www.bloomberg.com/apps/news?pid=20601089&sid=aBbXc79Ev7vs

Once Euro falls into an acceptable range for the elites, criticisms from hedge funds and fear generated from state media will go away....Just another reason for currency devaluation.
Euro Must Fall Further to Benefit Exporters
http://www.cnbc.com/id/15840232?video=1497953878&play=1

Airtime: Tues. May 18 2010 | 5:35 PM ET
John Kyriakopoulos, head of currency strategy at NAB Global Markets Research, says the euro will have to fall to 1.10-1.15 in order to benefit exports. He shares his outlook on the forex markets with Michael Yoshikami, founder, president and chief investment strategist at YCMNet Advisors and CNBC's Bernard Lo.

The ban on naked short selling in European government bonds and Germany’s 10 largest banks is apparently in place until March 31, 2011.
General Decree of the Federal Financial Supervisory Authority (BaFin) on the prohibition of uncovered short-selling transac-tions in debt securities of Member States of the EU whose legal currency is the euro of 18 May 2010
http://www.bafin.de/cln_179/nn_720784/SharedDocs/Aufsichtsrecht/EN/Verfuegungen/vf__100518__leerverkauf__schuldtitel__en.html

3.This General Decree shall apply until 31 March 2011, 24.00 hrs.

thx Ian
Germany seems to only somewhat sustainable exception but let’s not forget that its economy depends big time on exports. And who are Germany’s biggest trade partners?
•France … US$99 billion (10.2% of total German exports)
•U.S. … $85.5 billion (8.8%)
•U.K. … $76.7 billion (7.9%)
•Italy … $67 billion (6.9%)
So I really can’t see how they can pull this off for too long.
http://fyiblog.wordpress.com/2010/05/19/the-end-of-socialism-2/

good information isabel thx

Clarke and Dawes ask the million dollar questions
http://www.abc.net.au/news/video/2010/05/20/2905304.htm

Transcript
KERRY O'BRIEN, PRESENTER: Time for John Clarke and Bryan Dawe with a few reflections on Europe's financial woes.

BRYAN DAWE: Your name is Roger yes?

JOHN CLARKE: Roger.

BRYAN DAWE: Ah, that's your name?

JOHN CLARKE: Roger.

BRYAN DAWE: Good. And what do you do Roger?

JOHN CLARKE: I'm a financial consultant.

BRYAN DAWE: Ah, financial consultant, eh?

JOHN CLARKE: Roger, yes.

BRYAN DAWE: Terrific and Roger how is business at the moment?

JOHN CLARKE: Not bad thank you. Been a bit quiet lately.

BRYAN DAWE: How do you mean lately?

JOHN CLARKE: Since the war. Been a bit quiet.

BRYAN DAWE: Fair enough. Okay, Roger your special subject tonight is the economies of the European community. Your time starts now. Best of luck.

JOHN CLARKE: Thank you.

BRYAN DAWE: How much does Greece owe, Roger?

JOHN CLARKE: $367 billion.

BRYAN DAWE: Correct. And who do they owe it to?

JOHN CLARKE: Mostly to the other European economies.

BRYAN DAWE: Correct. How much does Ireland owe?

JOHN CLARKE: $865 billion.

BRYAN DAWE: Correct. Who do they owe it to?

JOHN CLARKE: Other European economies mostly.

BRYAN DAWE: Correct. How much does Spain and Italy owe?

JOHN CLARKE: $1 trillion each.

BRYAN DAWE: Correct. Who to?

JOHN CLARKE: Mainly France, Britain and Germany.

BRYAN DAWE: Correct. And how are Germany, France, Britain going Roger?

JOHN CLARKE: Well they're struggling a bit, aren't they?

BRYAN DAWE: Correct. Why?

JOHN CLARKE: Well ‘cause they've lent all the vast amounts of money to other European economies that can't possibly pay them back.

BRYAN DAWE: Correct so what are they go to go have to do?

JOHN CLARKE: They're going to have to bail them out.

BRYAN DAWE: Correct. Where are they getting the money to do that Roger?

JOHN CLARKE: That is a good question. I don't know the answer to that one. (laughs)

BRYAN DAWE: How much does Portugal owe?

JOHN CLARKE: Hang on a minute, what was the answer to that earlier question?

BRYAN DAWE: Just keep answering the questions Roger.

Where is Portugal going to get the money it owes to Germany if Germany can't get back the money that it lent to Italy?

JOHN CLARKE: Just a minute. What was the answer to the previous que-

The question was: How can broke economies lend money to other broke economies who haven't got any money because they can't pay back the money the broke economy lent to the other broke economy and shouldn't have lent it to them in the first place because the broke economy can't pay back?

BRYAN DAWE: You are wasting valuable time Roger. How much money does Spain owe to Italy?

JOHN CLARKE: $41 billion. But where are they going to get it?

BRYAN DAWE: Correct. What does Italy owe to Spain?

JOHN CLARKE: $27 billion but they haven't got it - they're broke.

BRYAN DAWE: Correct. How can they pay each other if neither of them has any money?

JOHN CLARKE: They're going to get a bailout, aren't they?

BRYAN DAWE: Correct. And where is the money coming from for the bailout?

JOHN CLARKE: That is what I'm asking you!

BRYAN DAWE: Correct. Why are people selling the European currency and buying the US dollar?

JOHN CLARKE: Because the US economy is so much stronger than the European economy.

BRYAN DAWE: Correct. Why is that Roger?

JOHN CLARKE: Because it's owned by China.

BRYAN DAWE: Correct and very well done! And after that round you've lost $1 million.

JOHN CLARKE: I've lost $1 million? I thought you said well done!

BRYAN DAWE: Yes well done - you've only lost $1 million. That's an extraordinary performance Roger.

JOHN CLARKE: I've only lost $1 million.

BRYAN DAWE: Very well done.

JOHN CLARKE: That's quite good is it?

BRYAN DAWE: Oh it's excellent.

JOHN CLARKE: Sell everything immediately. Quickly!

KERRY O'BRIEN: I think it's called laughing as you sink.

thx Ian

clarke and dawe are awesome!

Germany mulls extending ban on short-selling
http://sg.finance.yahoo.com/news/Germany-mulls-extending-ban-afpsg-2785751594.html?x=0

Germany wants to extend a ban on naked short selling that angered other countries last week to cover all shares listed on its stock exchanges, according to government documents seen by AFP on Tuesday.

Germany rocked its European partners and financial markets last week by unveiling a ban on naked short-selling of certain eurozone debt and credit default swaps, a kind of protection against default by state borrowers.

The surprise move by Germany's financial regulator was introduced unilaterally and without first informing Berlin's partners in the European Union or in the Group of 20.

Not everything is well is Deutschland ?? Maybe Euro is not falling fast enough for them ??

Euro Falls, Heads For Monthly Loss, on European Debt Concern
http://www.businessweek.com/news/2010-05-29/euro-falls-heads-for-monthly-loss-on-european-debt-concern.html

May 29 (Bloomberg) -- The euro declined, headed for a sixth monthly loss against the dollar, amid concerns European measures to reduce fiscal deficits and contain the region’s sovereign debt crisis will undermine the global recovery.

The 16-nation currency erased last week’s gain against the greenback as Fitch Ratings yesterday stripped Spain of its AAA credit grade, saying the nation’s debt burden is likely to weigh on economic growth. European leaders announced on May 10 an almost $1 trillion package to backstop the region’s debt crisis. The dollar gained against the yen before a report next week forecast to show the U.S. economy added 508,000 jobs in May.

“The crux, core problem is incredible indebtedness in the peripheral countries” of Europe, said Win Thin, senior currency strategist at Brown Brothers Harriman & Co. in New York. The European aid package “just kicks the can down the road. Any rally we’ve seen in the euro has been short term. We’re in a multi-year bear market.”

The euro declined 2.4 percent this week to $1.2273 from $1.2570 on May 21

Primary function of government: Pretend to fail..Debasing their own respective currencies to stimulate export is the only way to grow out of this depression.