That fan is starting to get very shítty

4leto

Ghandee wrote: »

Can someone please explain to me, (laymans terms) if the euro goes belly up, markets go to pot like this dude predicts, what happens to joe soap's (mine and your's) debts?

Like, if doomsday in the financial markets its inevitable, why should we bother repaying our debts?

You will still have to pay them in the new currency.

But you will most certainly have less money to pay them.

It truly is a nightmare scenario if the Euro goes pop, I don't think it will bw allowed happen.

squod

squod wrote: »

People can forget about a return to the punt. Unless some kind of giant leprechaun gives us his enormous gold stash. We've nothing to base a currency on that will have value in the world.

The Euro, Dollar & pound are based on nothing either, so no change there, the value of money is purely based on the faith you have in it! (like a religion)

Ghandee

Ghandee wrote: »

Can someone please explain to me, (laymans terms) if the euro goes belly up, markets go to pot like this dude predicts, what happens to joe soap's (mine and your's) debts?

Like, if doomsday in the financial markets its inevitable, why should we bother repaying our credit cards/personal loans etc?

During the Weimar republic's "wheelbarrow moment", the banks stopped taking loan repayments just when it was possible to repay your mortgage for the price of a beer!

The Bastards reset the payments when the dust had settled (at a lower rate), so they'll still milk you.:mad:

4leto

Deleted User wrote: »

The Euro, Dollar & pound are based on nothing either, so no change there, the value of money is purely based on the faith you have in it! (like a religion)

Not wholly true, a currency is based more or less what you will be able to buy with it in the future.

With the dollar and sterling you know they are relatively stable currency, a car will still cost roughly what it will cost now.

But with the new punt, well it ill be based in a bankrupt economy with massive debts. So if there is no gold to hold its value or if we could borrow stable foreign exchange (which we can't) the punt will plummet in international value.

We really do not want the Euro to fail.

suicide_circus

it's guys like this who are a fvcking cancer on the world
gambling with peoples futures, may he die roaring.

Solnskaya

Solnskaya wrote: »

when I saw this thread, I reckoned it had to be by Jonjo the miser, but I was wrong, there's more than one scaremongering sky's a falling doom monger out there it seems. Euro gone, me hole. They can press a few buttons, issue trillions to each countrys central bank, and wipe out national debts at a stroke, if it suits them. If it gets really sh1tty, it will suddenly suit them. Wait and see. ("Them" being the ECB and the Eurocnutbags in Brussels.) If I'm wrong, I'll eat your shorts, ("your"- being Angelina Jolie.)

I don't know about the Euro going, he's more interested in the stock markets - that's where he makes his wedge.

There will not be any happy ending whatever way it goes.

mikom

FlutterinBantam wrote: »

Real villains are the goons who refuse to work but depend on the State and John Q Taxpayer for everything.

Report on radio today that 3 in four lone parent claims were bogus.

We should expose these leeches and be told about them and what happens.

Root out these gimps and get them to work like everybody else.

You forgot to mention cannabis............

Rawhead

Rawhead wrote: »

I think what your describing is the recipe for hyper inflation my friend. Robert Mugabe pressed that button a couple of times and now it costs $28,000,000 for a loaf of bread.

I think the Zimbabwean Dollar disappeared up it's own arsehole, they use someone else’s money now.

Gummy Panda

That there is the weasel face of greed.

orourkeda

Go on the recession

Chuck Stone

FlutterinBantam wrote: »

Real villains are the goons who refuse to work but depend on the State and John Q Taxpayer for everything.

Report on radio today that 3 1 in four lone parent claims were bogus.

We should expose these leeches and be told about them and what happens.

Root out these gimps and get them to work like everybody else.

If we spent half the time, energy and resources we do policing the bottom of the shit heap on policing the top we might not be in the almighty mess 'we're' in.

Both need to be tackled.

punk77

Bring back the Head Shops. We could all do with a lift, Economically,Euphorically and some other E's.

Solnskaya

Ghandee wrote: »

Some (all of it) of this post is full of cr@p.

Its hardly as easy as pressing a button.

A whole lot of something cannot be made out of nothing

You are talking rubbish, but whatever. Would you care to tell me on what asset is the current Euro secured? Gold? Nah. Silver?nah. Lego?nah. Its just based on a murky idea called confidence and the word of our central banks. Ever heard of quantative easing? It's a fancy word for creating more money. Out of nothing. Yes, it devalues the money already in circulation, but hey ho. Ghandee, you obviously don't have much grasp of economics. Lot's will now come on saying neither do I, but lets wait and see what happens. My guess, quantative easing by the ECB, agreed by all of the EC states, leading to a fall in the value of the Euro, but preventing the fall of the Euro. Anyhoo, lets wait and see who's right.

Liam Byrne

ChunkyLover_53 wrote: »

OneArt wrote: »

This looks like fun. Soon we'll be back to hunting own food, schooling own children, making own clothes and running drag races through shopping centres.

Like Limerick so.

No - that'd need 5 lines and a specific rhyming scheme.

LH Pathe

This is not the Dublin football that was reliant on somebody else to clothe him? Daipers fall In that category right, the big balding baby

Einhard

Visibly shaken my arse.

The jaws dropping in the background were because of his general douchebagness, not because he was giving any great insight into what's happening. Did he take a wrong turn on his way to his audition for Wall Street 3?

SafeSurfer

Solnskaya wrote: »

My guess, quantative easing by the ECB, agreed by all of the EC states, leading to a fall in the value of the Euro, but preventing the fall of the Euro. Anyhoo, lets wait and see who's right.

Quantative easing failed in Japan in the early noughties and has failed to date in the US. Where banks are reluctant to lend and households and business lack the confidence to borrow and spend, even with historically low interest rates QE will not work.

Plautus

Flutterinbantam wrote:

So gtfo if you think traders were totally to blame my friend.

Have you been living under a rock for the last three and a half years? Cut-throat trading and speculation IS the cause of the insolvency and liquidity crisis. All those financial instruments (e.g. derivatives, asset-swaps, sub-prime mortgage lending etc.) cost the banks dearly and then the bankers went cap in hand to the state because they were going under due to their own reckless lending policies/market confidence tricks. We then bailed them out because they had us in a bind: we needed them to continue providing credit to prevent the solvent parts of the economy from going under.

You can begrudge some caricature of wagons with prams all you like, but we're talking about a difference of multiple orders of magnitude when it comes to real world costs and damage. And all of it done by a relatively small group of financiers in four Irish financial institutions. Too much Doe Juffy for you mate.

Every word that man said was pure truth...

And if you take a second to actually listen to him instead of welling up with righteous anger you would have heard him giving you ADVISE on what to do when the inevitable happens.

Fair play to him, the man had serious balls to do that a lot of Old Boys are seriously pissed off... Just because he is a trader does not mean he is the bad guy here, the bad guys are the people filling us up with bull**** by saying everything is ok. This lad spoke the truth, which is refreshing and I thank him for it.

Solnskaya

SafeSurfer wrote: »

Quantative easing failed in Japan in the early noughties and has failed to date in the US. Where banks are reluctant to lend and households and business lack the confidence to borrow and spend, even with historically low interest rates QE will not work.

Bank bailouts failed in japan, but we still did it again, so just because somthing failed in the past, that don't mean our esteemed leaders won't give it one more punt. And the "new" quantative easing will involve a pan-national roll-back of State debt followed by an injection of liquidity to both state and bank coffers. Basically, the debt-clock is probably going to be "corrected", much the way a car gets clocked. Doesn't much change the underlying crock, but it makes the guy travveling in it feel better.

charlemont

pragmatic1 wrote: »

Do something good for your country. Kill a banker today.

Would be a good thing if it happened.

Crazy Horse 6

When the levee breaks

chakotha

He's unbelievably callous and a bit given to hyperbole. I'm surprised the BBC had him on.

Crazy Horse 6

General General wrote: »

I'm looking forward to the day when these financial guys' heads are on spikes.

You'll be waiting a while for that in this country pal.

pragmatic1

charlemont wrote: »

Would be a good thing if it happened.

Get the ra to issue a statement saying that one banker a week gets shot execution style until this mess is cleaned up. It wouldnt take long before these fcuks start playing nice. The law protects these bloodsuckers so maybe a bit of paramilitary justice would be more effective.

jay-me

Ghandee wrote: »

Some (all of it) of this post is full of cr@p.

Its hardly as easy as pressing a button.

A whole lot of something cannot be made out of nothing

You haven't heard of the fedral reserve then no?

jay-me

Edz87 wrote: »

Every word that man said was pure truth...

And if you take a second to actually listen to him instead of welling up with righteous anger you would have heard him giving you ADVISE on what to do when the inevitable happens.

Fair play to him, the man had serious balls to do that a lot of Old Boys are seriously pissed off... Just because he is a trader does not mean he is the bad guy here, the bad guys are the people filling us up with bull**** by saying everything is ok. This lad spoke the truth, which is refreshing and I thank him for it.

That was you in the video wasn't it?

Amirani

Of course he's going to claim that the Eurozone is toast and encourage people to move their assets. He's basically admitted that he's heavily invested in treasury bonds/foreign currencies. So if Europeans start following his advice, shedding their euros and buying treasury bonds and dollars then what happens to the price of them? They rise and he makes money. Don't have a clue why the BBC would bother giving someone like him a platform.

Crazy Horse 6

Gutless, selfish leadership has put us where we are.

mossyc123

Basically encouraging people to panic so he can make money.

They should get the little sh!tebag on again asap and rip him out of it instead of cluelessly twittering on and encouraging him...

"ooooh Mr Trader, were so scared, tell us what to do, our jaws are dropping with fear"

Get Paxman on the case asap! :pac:

ejmaztec

pragmatic1 wrote: »

Get the ra to issue a statement saying that one banker a week gets shot execution style until this mess is cleaned up. It wouldnt take long before these fcuks start playing nice. The law protects these bloodsuckers so maybe a bit of paramilitary justice would be more effective.

The Northern Bank might want their money back first.

mossyc123

Crazy Horse 6 wrote: »

Gutless, selfish leadership has put us where we are.

Have Governments ever been so weak as they are now?

Solnskaya

Crazy Horse 6 wrote: »

Gutless, selfish leadership has put us where we are.

I hope you are not cediting the FF govt with creating all of this! Big a bunch of tossers that they were/are, they were not that influential. Seanie fitz did more harm than lenno for example. And it's still not all his fault.

mossyc123

Solnskaya wrote: »

I hope you are not cediting the FF govt with creating all of this! Big a bunch of tossers that they were/are, they were not that influential. Seanie fitz did more harm than lenno for example. And it's still not all his fault.

Bankers/Traders will get away with what they are allowed get away with.

They are answerable only to Shareholders/Funds.

Government is supposed to be acting in the best interests of the people.

That's the crucial difference.

Ulysses Gaze

Solnskaya wrote: »

I hope you are not cediting the FF govt with creating all of this! Big a bunch of tossers that they were/are, they were not that influential. Seanie fitz did more harm than lenno for example. And it's still not all his fault.

But FF allowed a regime of 'Light Touch' (i.e. No) Regulation in Ireland. This allowed Fitzpatrick, Goggin, Sheehy and Fingleton steer their banks, and our economy, onto the rocks.

sdanseo

Ah this has been on the cards for a very long time.

I hope the stock markets fall on their face tomorrow, because they're going to do it sometime soon and better to get it over with. In the meantime, governments are merely spending billions saving face and prolonging the inevitable or, at best, making do with a broken system rather than let it crash and then fixing it.

The whole financial system is flawed and needs a "reboot". If the building is going to fall, there has to be a stage at which it's better to do a controlled demolition than let it fall onto a pile of people.

patwicklow

This is all planned for the euro to crash then it will be, ONE WORLD BANK
its on the way!!

Amirani

patwicklow wrote: »

This is all planned for the euro to crash then it will be, ONE WORLD BANK
its on the way!!

Yes, because the model of having a single bank for multiple countries isn't the reason the Euro is failing...

galwayrush

I'm broke so i don't need to worry about losing on investments / savings or pensions... I can't afford any of them, i'm not going to start worrying about some investor assholes who created the mess in the first place.

btard

Edz87 wrote: »

Every word that man said was pure truth...

And if you take a second to actually listen to him instead of welling up with righteous anger you would have heard him giving you ADVISE on what to do when the inevitable happens.

Fair play to him, the man had serious balls to do that a lot of Old Boys are seriously pissed off... Just because he is a trader does not mean he is the bad guy here, the bad guys are the people filling us up with bull**** by saying everything is ok. This lad spoke the truth, which is refreshing and I thank him for it.

I agree, but you are wasting your time pointing it out on here. The sheep can't handle the truth. That's why they are sheep.

Gummy Panda

btard wrote: »

I agree, but you are wasting your time pointing it out on here. The sheep can't handle the truth. That's why they are sheep.

Suitable username

Ben Hadad

To all those criticising the trader, don't hate the player hate the game.

Capitalist and free market societies create these people. More so they create the opportunities for people to make money. Only pure socialists have any problem with this premise. People who can fundamentally grasp underlying facts inherent within an economy especially an economy on the cusp of collapse can make crazy amounts of money. Whose fault is that? Not the traders as reviled as they are. Traders are reactionary, they react to political decisions and movements by companies, banks populations etc. This guy was just being frank and actually trying to ensure that people take steps to ensure the safety of their capital. And people come on and attack him...

Again don't hate the player, hate the game.

mossyc123

Ben Hadad wrote: »

This guy was just being frank and actually trying to ensure that people take steps to ensure the safety of their capital. And people come on and attack him...

Again don't hate the player, hate the game.

I think he was trying to convince people that the Euro was going to collapse so that people would panic and he could personally profit from it.

I'll criticize him for that if you don't mind.

opinion guy

Einhard wrote: »

Visibly shaken my arse.

The jaws dropping in the background were because of his general douchebagness, not because he was giving any great insight into what's happening. Did he take a wrong turn on his way to his audition for Wall Street 3?

Lol I was waiting for him to say "Greed is Good!"

Edz87 wrote: »

Every word that man said was pure truth...

And if you take a second to actually listen to him instead of welling up with righteous anger you would have heard him giving you ADVISE on what to do when the inevitable happens.

Fair play to him, the man had serious balls to do that a lot of Old Boys are seriously pissed off... Just because he is a trader does not mean he is the bad guy here, the bad guys are the people filling us up with bull**** by saying everything is ok. This lad spoke the truth, which is refreshing and I thank him for it.

Ben Hadad wrote: »

To all those criticising the trader, don't hate the player hate the game.

Capitalist and free market societies create these people. More so they create the opportunities for people to make money. Only pure socialists have any problem with this premise. People who can fundamentally grasp underlying facts inherent within an economy especially an economy on the cusp of collapse can make crazy amounts of money. Whose fault is that? Not the traders as reviled as they are. Traders are reactionary, they react to political decisions and movements by companies, banks populations etc. This guy was just being frank and actually trying to ensure that people take steps to ensure the safety of their capital. And people come on and attack him...

Again don't hate the player, hate the game.

BULL****.

This guy stands to make money by putting the fear into everyone. He said it himself - he makes money from a crash. He prays every night for a crash. He is doing everything he can in this clip to precipitate a crash - even going so far as to say Goldman Sachs run the world. Guaranteee you after he went off air and his buddies for all high fiving him for having the balls to try and play it off this way and lauhging their asses off about the Goldman Sachs crack. He's not telling people what to do to ensure their capital hes telling them what to do to precipitate a crash

ArtSmart

dr.bollocko wrote: »

I have just set up a small company sharpening and selling pitchforks in the West of Ireland. PM for service.
Accept sterling only.

i kinda like mine a little bit blunt.



yes, i am a nasty bugger

opinion guy

ArtSmart wrote: »

i kinda like mine a little bit blunt.



yes, i am a nasty bugger

Oooo oooo can I have mine rusty......with extra tetanus ???

Absurdum

sure isn't all really just about making sure that the uber-wealthy don't lose their shirts anyway

**** people like him, ****in leeches; go dream about the misery of others, I'll be snuggling me missus and thinking about making more babies

Solair

Considering that some major speculators are causing more damage than terrorist organisations, perhaps it's time to consider rendition?

We can't really have double standards!
Guantanamo's kinda emptier these days too.

Crazy Horse 6

Yeap the guy's pure scum but for a change the media let one through the net and he tell's it like it is. The guy stocking up on canned foods and maybe even buying a gun is'nt the lunatic in the room anymore folks, it's the guy who's doing nothing thinking everything is just going to be fine and dandy that's the lunatic. Nite all.

ArtSmart

Crazy Horse 6 wrote: »

Yeap the guy's pure scum but for a change the media let one through the net and he tell's it like it is. The guy stocking up on canned foods and maybe even buying a gun is'nt the lunatic in the room anymore folks, it's the guy who's doing nothing thinking everything is just going to be fine and dandy that's the lunatic. Nite all.

Crazy, horse.