There are times when I'd like to share something with you but my Voice in the Garden site does not seem the appropriate place, thus, this blog.

There are experiences, thoughts, views... and for anyone lurking/waiting to pounce (as has occurred on several occasions), please do not attempt to turn what I post into a political statement. This is NOT a political site, but IS about occurrences, reality, and personal opinion concerning what I see in the world around me and my family. There are many excellent writers whose works "speak" to me, and I shall include some of them. At times it may be
something I think you would enjoy or simply whatever ails you (me).
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Saturday, November 27, 2010

The Euro Game Is Up!

First Greece, then Ireland, and who will follow? I found the following video to be... well, you decide.

To the European Parliament, The Euro Game Is Up says Parliament member Nigel Farage, and it's pretty clear that none of you have learned anything.





Speaker: Nigel Farage MEP, UKIP, Co-President of the EFD group

Transcript:


"Good morning, Mr van Rompuy,

You've been in office for one year and in that time the whole edifice is beginning to crumble, there's chaos, the money's running out - I should thank you; you should perhaps be the pin-up boy of the Eurosceptic movement.

But just look around this chamber, this morning. Just look at these faces. Look at the fear. Look at the anger. Poor old Barroso here looks like he's seen a ghost.

They're begining to understand that the game is up and yet in their desperation to preserve their dream, they want to remove any remaining traces of democracy from the system. And it's pretty clear that none of you have learnt anything.

When you yourself, Mr van Rompuy, say that the euro has brought us stability. I suppose I could applaud you for having a sense of humour, but isn't this, really, just the bunker mentality?

Your fanaticism is out in the open. You talked about the fact that it was a lie to believe that the nation state could exist in the 21st Century globalised world. Well, that may be true in the case of Belgium, who haven't had a government for six months, but for the rest of us, right across every member state in this Union - and perhaps this is why we see the fear in the faces - increasingly people are saying, 'We don't want that flag. We don't want the anthem. We don't want this political class. We want the whole thing consigned to the dustbin of history.'

And we had the Greek tragedy earlier on this year, and now we have this situation in Ireland. Now I know that the stupidity and greed of Irish politicians has a lot to do with this. They should never ever have joined the euro. They suffered with low interest rates, a false boom and a massive bust.

But look at your response to them. What they're being told, as their government is collapsing, is that it would be inappropriate for them to have a general election. In fact Commissioner Rehn here said they had to agree their budget first before they'd be allowed to have a general election.

Just who the hell do you think you people are?

You are very very dangerous people, indeed. Your obsession with creating this Euro state means that you're happy to destroy democracy. You appear to be happy for millions and millions of people to be unemployed and to be poor. Untold millions must suffer so that your Euro dream can continue.

Well it won't work. Because it's Portugal next, with their debt levels of 325% of GDP, they're the next ones on the list, and after that I suspect it will be Spain. And the bailout for Spain would be seven times the size of Ireland's and at that moment all of the bailout money has gone - there won't be anymore.

But it is even more serious than economics. Because if you rob people of their identity. If you rob them of their democracy, then all they are left with is nationalism and violence. I can only hope and pray that the Euro project is destroyed by the markets before that really happens.

Saturday, November 13, 2010

Animated Quantitative Easing Explained

QE2 or Quantitative Easing was written about here,
but this is an entertaining explanation about it
and who benefits from it... simply stated...
and it made me laugh.

Wednesday, November 10, 2010

Veteran's Day: God Bless Those Who Give All

Americans have not stood alone in their fight to keep freedom alive
Sacrifices are made by people and countries around the world

Take Time to Give Thanks To Those Who Give All





Every American is
Blessed
To Be Represented By
Our Best

Friday, November 5, 2010

QE2

No, I am not an economist, but have varied interests, am a student of learning, have been blessed with common sense and logic (at least most of the time... wink), and understand the basic principle of economics: if you make more of something, you increase supply, and therefore the value is lowered.

In October, Caroline Baum, Bloomberg, wrote: Gold prices continue to set new highs. The U.S. dollar, the global reserve currency, keeps sinking amid expectations the Federal Reserve will dilute the existing stock starting at its Nov. 2 to 3 meeting.

And so they did! The Federal Reserve announced another round, nearly $1 Trillion dollars more of Quantitative Easing, QE2 they call it: buy $600 billion of Treasuries through mid-2011 and another $250-300 billion of coupon reinvestment via the Desk.

QE1, you ask?
When completed, the Fed had repurchased about $1.7 trillion in Treasury and MBS/Agency securities (Mortgage Backed Securities).

Cotton futures surged to $1.392 a pound yesterday in New York, the
highest price in 140 years of trading, on signs that dwindling global supplies won’t meet mounting demand from China, the biggest user. Cotton’s 79 percent gain this year was the biggest on the Standard & Poor’s GSCI Index of 24 commodities. So what happens now to the cost of fabric and clothing?

Silver hit a new all time record of $26.03. Gold is currently trading to the level of $1394 dollars per ounce, and oil is heading back toward $100 a barrel.

Here is a chart of interest supplied by Casey Research showing year-over-year prices, The Real Cost of Living.

Some say we are facing hyperinflation, others stagflation.

There are 40 + countries pegged to our dollar and already countries have begun to counter inflation by raising interest rates: Australia and India have done so and yesterday morning the BOE (Bank of England) said they will NOT follow the U.S. Are countries beginning to decouple from the U.S. dollar?

The printing presses roll, and with a Fed induced stock market rally, Wall Street speculates, pushing up the price of industrial and agricultural commodity prices while people struggle with a higher cost of living, unemployment, and foreclosures amidst the dwindling of the dollar. Think of what the high cost of commodities does to countries less fortunate than we.

Mohamed El-Erian, CEO of PIMCO, the world's largest bond investor, addresses the unintended consequences of this Fed's actions and the reasons QE2 blunderbuss likely to backfire.

And if you haven't been entertained enough, here is a Wall Street Journal article on translating some of the Fed speak.