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9 days to save the Euro, anyone worried?
Posted by kb on 2 December 2011 - 2:16pm.
Apparently:
If the Euro fails, European banks will go bust; the UK banks are all over-exposed in Europe so they will also go bust leaving cashpoints not working. Presumably no debit card transactions will work either. No-one will be able to buy food from supermarkets unless with cash.
And when the army has contained the anarchy and a new normality exists, UK interest rates will sky-rocket. So any equity you have in your homes will vanish.
The "best case" I heard this morning is that Germany will leave the Euro to give itself a chance, leaving the new Eurozone in total collapse. (They are already printing Deutschmarks - Google it)
Anyone talking cash out of their banks yet? Stockpiling tins?
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First thought was
that it was 6 weeks to save the euro on the 26th September according to Giddy Osbourne. Which means the Euro failed on the 7th of November.
Pinch of salt time.
If it's coming up on a google search then it must be true.
No need to head for the shelters yet I think.
But
this news comes from no higher an authority than gizadeathstar.com
There's a scene in Tom Stoppard's..
....Rosencranz and Guildenstern Are Dead where one of the characters walks to the front of the stage and shouts "Fire!"
Then he says, "I'm just demonstrating the misuse of free speech."
Thank you
This is also known as
The Jeremy Clarkson Defence.
Seriously OP?
Is that a possibility? I know that before the bailout, some banks were literally hours away from cashpoints running empty. But won't they print money before that happens? So we might end up carrying money around in wheelbarrows to buy a loaf. But is that not more likely before the full-on anarchy?
I only ask because, try as I might to understand it, it's fecking confusing.
I don't know either
And it is so frustrating when all senior figures (PM, Head of BoE) stop short of full explanation when using phrases like 'extraordinarily serious and threatening'. So we are left with the tittle-tattle that I have heard and rewritten above.
It was only after the crisis of 2008 that Govt figures actually told us that (had they not acted) it would have meant banks collapsing and bank accounts freezing. From what I can gather, the possibility of the above happening is far more likely than it was after Lehman Bros in 2008.
I have faith that it won't happen but I am also aware that Mervyn King cannot go any further than "extraordinarily serious" as if he did, we would all be queuing like the Northern Rock days.
Nah,
believe it when I see it.
Apparently...
...there's a Mayan tablet that says the world will end in 2012. Though there was a paragraph in today's Grauniad suggesting it might have been a mistranslation.
Phew. Crisis over.
Always mystified by this theory
(Not that I'm accusing you of subscribing to it.)
It's the Mayan calendar that runs out in 2012. When the Mayan calendar runs out, they … erm, start another one. How this got extrapolated to the end of the world I'll never know.
Your supposition is right Brooksmeister...
....I don't subscribe to it! Nor nostradmus, the tooth fairy or David Icke...
But it's fascinating that people have symposiums about this sort of thing (I think that was why there was a para in the Guardian today, though I just flicked through a copy in a cafe at lunchtime so can't recall the details). It sounds like the Mayans decided, in their mischief, to plant a Millenium-bug-esque timebomb for future generations to have fun with.
Clearly, you've just solved it!
If I was you
I'd buy gold.
Hell!
I just swapped all my gold for cash
*shakes fist* damn you, Dale Winton!
I've thrown out my gold
teeth.
The answer they reveal...
Life is unreal.
Can I refer m'learned friends to
this piece by Stephanie Flanders, the Beeb's economic commentator: http://www.bbc.co.uk/news/business-16007044
Slightly off topic but less threatening
Is it just me or is Stephanie Flanders a bit "fit"?
Possibly yes
I think it's that very much un-botoxed forehead.
Deffo...
As we head towards economic armageddon, I'd much rather it was Ms Flanders guiding us than ROBerT SODddinG pEStON
I agree with that Peston bit...
...but Stephanie Flanders looks very like Michael Portillo to me.
Futher political union required
to make the common currency work. That's where we're headed, I'll warrant.
The Third Reich??
...in all but name and albeit without the one testicled nut job.
A little overstated
perhaps!
You are Jeremy Clarkson
and I claim my £5.
Damn
You found me. Me and the lickspittles Dacre and Littlejohn having been hiding out here waiting for it to all blow over. Disappointed with the lack of Boston, Speedwagon and Focus threads. Tsk.
Off to hide out now on the Obs Food Monthly blog. Sophie Grigson's popping over with a tart.
And on that bombshell etc.......
Nb. Book and DVD out now. Buy, buy, buy
Right so far, Hippo
Without us Brits though.
If Jimmy Webb albums are the new currency
then I'll be absolutely fine and dandy.
From what I've heard..
Germany has been planning to pull out for a while, printing DMs, etc. It has been agreed that it's the most sensible solution. The German banks have been laying off all sorts of strange deals to firewall themselves. Germany bails out, the Euro devalues spectacularly, much of the national debts held by the PIGS inflates away, there's a couple of years of shit and then all levels out.
Probably with the Germans on top.
But I've also heard other things. I have had a lump of cash under the metaphorical bed, just in case, for the last six months. I have not liquidated everything and purchased precious metal. At any time, it is only worth what someone will give you for it, the same as everything else.
Perhaps you could
fashion your precious metal into a Steely Dan and hide it somewhere
Or fashion your own gold teeth
And put your money where your mouth is.
I shall indeed.
I will see how they roll.
ahem!
I refer the honourable gentleman to my post above.
Anyhow
Here we are 12 days later and all the European banks haven't collapsed.
That was a pinch of salt well spent.
Bah!
Anyone interested in taking 300 litres of bottled water and 150 cans of baked beans off my hands?
I understand
Richard Madeley is still in his 'Millenium Bug' emergency bunker waiting for the all clear. Lets not tell him.
I'm going to Austria on Friday.
Which means I'll be close enough to Germany to be safe if economic meltdown begins.
Mrs L and Jr will have to survive on baked beans until I've managed to hitch home with pockets stuffed with freshly-minted EuroDeutscheDollars. Assuming I survive the feral mobs patrolling the tunnel exit.
Twitter's down.
It's already happening, isn't it?