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Ever played a game of Monopoly? Predicting the endgame isn't that hard to do.

I call bullshit. Germany is a welfare state, and their fiscal problems are nothing compared to ours. The banksters create financial armageddon, require the effective nationalization of the finance sector to the tune of 23 Trillion - all the while enjoying bonuses. And now we focus on...

CORRECTION - it's almost a TRILLION dollars: EU Crafts $962 Billion Show of Force to Halt Crisis (Update2) http://www.bloomberg.com/apps/news?pid=20601087&sid=ap50DW8IqhBo&pos=1

Interesting response. You reframed my question. You also state "Therefore, a printing press buys you time to get your fiscal situation in order. " Here I partly disagree - yes the printing press buys one time... but it won't get your fiscal situation in order- it will further destroy your...

MartinG - I don't know if you missed it or didn't have time to address it, but I brought up a point countering yours re: UK having a printing press whereas Portugal does not, in a prior thread relating to Portugal. I'll ask again: What is more important in your view, a nation's printing...

Portugal has a population of 10.6 million people They also have 385 tons of gold. The UK has a population of 60 million people. They only have 310 tons of gold. Yes, the UK has a printing press. But do you really think the markets can be fooled by a printing press forever? Gold...

Someone at the PPT was too busy surfing porn to flick the switch in time. Looks like he still hit the switch - just not as fast as he should have.

Watch the Euro/Gold price. Unlike the US, the EU marks their gold reserves to market. Gold will be their last chance. It's a question of timing and price. I think this is being reviewed at the BIS. (tinfoil hat off)

He was right about Citi back in 2007/2008. At $30+ he said it was a $5 stock. He was one of the first to say that all the big banks were effectively insolvent.

Correct - anything is possible in a fiat money world. The ECB will now take junk debt (Greek debt) as collateral. The Federal Reserve's balance sheet, if marked to market, is basically insolvent. The Federal Reserve now owns loans on empty hotels, unfinished construction projects... all...

Let's not be too simplistic here. This money is created out of thin air. It's not really savings. The ECB takes EU member states' bonds as collateral. Thus, a commercial bank, with adequate reserve ratios, can create money (debt) out of thin air to buy these bonds. The bonds may pay...

I fear that the government workers and punk anarchists just destroyed Greece's tourism this year. That's a large part of the private sector.

No time for a detailed follow up right now. But as I said.... gold and/or SDRs will be the endgame: <object id="cnbcplayer" height="380" width="400" classid="clsid:D27CDB6E-AE6D-11cf-96B8-444553540000"...

Debt need not be paid off completely - it just needs to become manageable. Paid down, not paid off. No Sovereign needs to be debt free. Not all Sovereigns will benefit equally either from a gold re-monetization. But they will be better off. Especially when the western sovereign bond markets...

You don't get it. Greece isn't being bailed out. The entire debt-based international paper monetary standard is being bailed out. Greece is but a symptom, a free rider - but not in the sense you think it is. And who benefits the most from the global paper debt standard? The US by...

Europe is sitting on the world's largest stockpile of gold. They even encourage it as a financial instrument per EU Directive: In order to promote the use of gold as a financial instrument, this Directive introduces a tax exemption for supplies of investment gold. Previously, the normal tax...

You have it backwards - what you described will be the catalyst for this to happen. Not the other way around. Gold will not be used to destroy the Euro or the dollar. Gold will be used to resurrect them. Unavoidable in my view.

Very true about the US and its gold. I think this process is already underway. Whether by design, or natural monetary evolution - at least that's what I call it. The West has stopped selling its gold. The East, including Russia, are ramping up their gold aquisitions thru various means -...

There is one remaining viable option that Europe has. And only one, outside of default or disintegration of the Euro. It's gold. I know, many of you are laughing. But hear me out. The Euro area in total, has the most gold reserves of any other currency/region. Over 10K tons. Greece...

You don't get it - there are no jobs. Let me be a little more precise. There are millions of unemployed people - from the middle class - that cannot find a new job that will allow them to retain their middle class status. This is the dilemma. It is a giant intellectual and emotional leap...