View Single Post
 
Old 08-16-2018, 03:03 PM
Danny B Danny B is online now
Platinum Member
 
Join Date: Oct 2012
Location: L.A. Ca.
Posts: 4,606
ECB, up against the wall,,,Contagion, Lira to the Yuan

The new Italian government came out and said that the EU would crash if it stopped QE. Everybody already knew that this was true but, they ignored it. After the pronouncement, things started to fall apart.
"The Euro has fallen to 113006. Once again, the dangerous game here is when we cross that line of demarcation between CONFIDENCE in government and the REALIZATION that there is nobody in control but the free markets. Once all the talk and all the promises are no longer considered to be worth listening to, that is when the monetary crisis begins to really shake the foundations. We are moving closer to that point of no return."
"The ECB has had the Eurozone on life-support. They cannot pull the plug without the collapse of the Euro and with that, lies the jobs in Brussels. This is why they will become draconian and attempt to outlaw selling the Euro all to maintain their jobs. They will lose. The free markets ALWAYS win!."
https://www.armstrongeconomics.com/m...ng-to-dollars/
The blob State in Brussels will eventually take some kind of action to preserve their cushy jobs. This future action will be EXACTLY the wrong thing.

The Central Bank of Turkey jumped in to save the currency. This will be short-term at best. Also, Quatar gave them a $15 billion loan,,, more short-term.
"Qatar has come to the aid of Turkey offering $15 billion in a loan, but keep in mind that the entire issue with Syria began with Qatar proposing a pipeline through Syria to compete with natural gas with Russia. Therefore, it is in Qatar’s best interest to keep Turkey trying to invade Syria. The price will be the pipeline, which we seriously doubt will ever take place."
As soon as Qatar comes to this same conclusion, the money will stop.

"Erdogan has threatened to walk into the arms of Russia and Erdogan is simply not someone the West should trust. I have been warning that NATO should absolutely withdraw from Turkey. Until the people overthrow this guy, he should be distanced RIGHT NOW!!!!! He has been against Greece and Israeli. He is by no means of a particular side. He has been fixed on his vision of restoring the Ottoman Empire and he has ruined the economy of Turkey. Erdogan is far more dangerous than any other world leader "
https://www.armstrongeconomics.com/i...me-your-enemy/

State bureaucrats will always tell the State what the State wants to hear. More and more states are following what Armstrong recommends. If he recommends dumping turkey ASAP, many will listen and act. He brings a historical clarity to everything.
99.8% of Turkey is muslim and, Erdogan is appealing to religious fundamentalists for support. Theocracies never work out.
"It is curious how those who seek dictatorial power are the ones who dream of restoring the power of empires long since dead. Erdogan has wanted to recreate the Ottoman Empire"
https://www.armstrongeconomics.com/i...sis-is-turkey/
From a historical point of view, Turkey is on the most frequently travelled road to disintegration. Attaturk had tried to modernise Turkey so that it would continue to be a secular State and not a religious State. The Turkish military assumed the role of kicking out leaders who were to religious. Up to this point, they had done pretty well. Not this time. Erdogan beat them.
https://www.telegraph.co.uk/opinion/...s-yet-to-come/
Turkey does NOT have a domestic arms industry. They have to import everything.

Armstrong, "ANSWER: We have been warning that the first to crack would be emerging markets and Turkey was the focal point."
"This is SERIOUS. People have to understand that this is NOT my personal belief, opinion, or anything else based upon some predetermined conclusion. People attack me personally because they cannot defend a system that NOBODY in their right mind would have created from scratch."
"The countries who want help are generally the peripheral not the majors for this is too political. Hence, we just have to crash and burn and then puck up the burning embers."
https://www.armstrongeconomics.com/w...pon-the-world/

Not so strangely, the crisis in Turkey is bring down other emerging markets including CHINA.
Offshore Yuan, https://www.zerohedge.com/sites/defa...15_7-00-52.jpg
https://www.zerohedge.com/news/2018-...ans-collapsing
Comments; "

All those graphs just indicate that EM currencies across the board are collapsing in "exchange value" against the USD. We are going to see national defaults on dollar denominated debt, most of it owned by the TBTF multinational banks including the USA big 5. This will lead to a freeze up in the credit markets far more acute than 2008. The Fed and the ECB will print at warp drive 9 to reverse it as they did in 2008-9 which will result in hyperinflation this time and the collapse in purchasing power of all fiat including the USD and the euro.
This will set the stage of the Cabal's Hunger Games attempted reset, as the world cries out in pain for the institutions that planned and executed the collapse to save them. BTW, China and Russia have vast amounts of unrecognized gold in storage. They have been expecting this for at least a decade and prepping. China will let their bubble pop and deflate to some extent and then step in with fractional gold backing. Same with Russia though they are less debt ridden than Chinese corporations."

The Yellow Peril has a plan, https://dailyreckoning.com/chinas-pl...-stock-market/
All the EM debt will blow, https://dailyreckoning.com/you-shoul...t-debt-bubble/
8/16 90% of cryptocurrency market facing ‘extinction-level event’: Xapo president – Yahoo
8/16 The ‘gig economy’ is the new term for serfdom – Truthdig
__________________
 
Reply With Quote