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The statement that the "toxic" assets are XX trillions, is based on what ? Do you know that mortgages in Europe are still packaged in MBS, just to deposit them as collateral at the ECB ? Even if those MBS don't have a value in the market now, they are not toxic, since they are made of good...

"they believe crises ensure their employment." :D so I guess that the longer the crisis lasts, the more work and money there will be for them, for their friends, for their friends' friends...

How much is he losing on the long 30y/perpetual bonds ? :D

Oh what a surprise, another article against the euro from the british press. The same arguments, the same propaganda every day in the last ten years. Aren't you bored yet ?

Privately, something close to desperation is starting to develop inside government. After watching the slide in bank shares on Friday, one cabinet minister did not altogether joke when he said: "The banks are fucked, we're fucked, the country's fucked."...

Starting an inflation is the easy part. Stopping it is utterly difficult. Inflation is not the way out. Since there's not enough money in the world to save everyone, the only way out is a jubilee: "Biblical debt jubilee may be the only answer"...

You are right, of course :)

OMG... can you read the link at the right of the page ? :D Our long game pays off - Britain is the leading power in Europe http://www.telegraph.co.uk/opinion/main.jhtml?xml=3617447 unfortunately the link is broken ...:p

oh, wrong prophecy, sorry... he has just written another one, and it's only tuesday... I guess in this period he's very busy, or, I should say, "obsessed" :D The euro is torture instrument for Spain Ten years of euro membership have lured Spain into a terrible trap...

An excellent discussion the one that starts with an article from Ambrose Evans-Pritchard ? http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/4278642/Monetary-union-has-left-half-of-Europe-trapped-in-depression.html That guy is the most famous euro-hater of the web, he writes...

I agree about bureaucrats and elites, I know. But about the benefits, it's not that simple. Who buys the products of Germany ? People like me, in Italy and in other euro countries. How could I buy those good quality german products, if I had a debased currency in my pockets ? The...

Because you read british financial press ! That story doesn't exist in Italy, nor in Europe: it's an invention of the anglosaxons ! The british financial press has started a propaganda war against the euro and eurozone countries. Every day there are insults (like the nickname "PIGS") and...

You don't know what you're talking about. I can speak for Italy, it's the opposite: we hated the old Lira, worthless because our politicians continually debased it. Thank god (and the Delors commission :D http://en.wikipedia.org/wiki/Delors_Commission) we have the euro now.

And if Spain and Italy will leave the euro, will they join the sterling then ? :D Or will Scotland leave the sterling and join the euro, like this guy suggest ? "we may well see sovereign defaults by EU national governments, both inside and outside the eurozone. But it is more likely in my...

AJJ be careful. Don't believe the british financial press, a lot of articles about the euro and the eurozone are often inaccurate at best. When you choose where to put your money, you should be aware that there's an information war going on, with daily attacks against the euro and eurozone's...

LMAO :D This is a must read: today S&P confirmed rating A+ for Italy and stable outlook, and estimated that the debt/GDP ratio will rise at 109%. An italian government member ironically commented:"We'll do everything to avert it" (Link only in italian, sorry)...

Wrong... I'm italian. That pension reform was made by the LEFT government, with the agreement of the LABOR UNIONS. And only the uninformed people agreed to put their money into that fund. Most of the workers kept their severance money where it has always been. And this sentence “The...

http://uk.reuters.com/article/bondsNews/idUKLC29343320090112?sp=true May be :D Last week they placed on "creditwatch negative" Ireland, Greece and Spain. Since the rating agencies use rating as a political weapon, the EU legal action could be an answer to the move of S&P against those 3 EU...

There are 3 possible solutions: 1-hyperinflation: the financial elite want it, so they can lower the debts and perpetuate their power. 2-keynes: ballooning public deficits, financed by printing money. 3-moratorium on bad debt and toxic assets, split up good and bad parts of the banks, and...

I'll make an example: here in Italy, the central bank governor is Mr.Draghi, an ex-GoldmanSachs, like Paulson http://en.wikipedia.org/wiki/Mario_Draghi Last month, the italian minister of Finance, Mr.Tremonti, frontally attacked and publicly mocked him and his world, it was really...