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Alex38

By Alex38,
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Alex38 Newbie

Alex38

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Space Cowboy - BondLadys Corner Long But Very Good Read

Just read the article posted here regarding Italy loaning Iraq half a billion dollars.

Want to start jumping up and down in excitement? I am. This article makes me start to tremble and tonight I am going to dream of Hawaiian Beach homes... Seriously, this is one of the most blatant and most in your face financial articles I have read in a year. This article makes me giddy. I am seriously about to crap my drawers that this came out so blatant. Hang on to your crochet granny, we are getting close!

Here's why! Italy is 2.4 TRILLION in debt! Italy has lost 3,000% of GDP in the last 10 years! Italy fell further than many of its Euro peers. Italy has, for the last decade, averaged a NEGATIVE growth rate! Italy has one of the worst export trade sectors of all nations, and it has an average age population of 45 years old!

...

Read More Link On Right

IF that doesn't give you a quick overview of how bad it is there, then consider this: it is estimated that in the next 7 years, Italy will only be able to pay off 4% of the loans it has taken in the last 12 months! That means they are, at the very best, going to default on 96% of all bonds purchased!

This is a perfect picture of European failure and if you hang on just a few minutes longer, you will understand why their horrible situation MAY mean good news to us!

I want to ask... with a situation so desperate and so bleak, why would Italy be ALLOWED to loan ANYONE a nickel... let alone 500 million! Recently, Italy has been having bond sales for very short term bonds with very high interest rates.

Great for investors IF they pay, but most hedge funds have steered clear as the Euro crisis gets worse and worse. Italy can't make Germany pay off its debts any quicker, and Germany can't get Spain to pay its debts... and this goes on and on until you get dizzy and throw up.

I can't make it any clearer, Italy doesn't have the money to loan themselves a salami sandwich, and if they actually loan Iraq 500 Billion there will be worldwide calamity as the Euro tanks! Now we are getting closer to the good part!

I think you are starting to figure it out too. The question of the century is: "How in the wide wide world of sports is Italy able to loan Iraq 500 million dollars? The answer is easy. It isn't.

A US Treasury Secretary, Henry Paulson, 2008, said “If you’ve got a bazooka, and people know you’ve got it, you may not have to take it out.” This statement rocked the world and opened a lot of eyes financially.

Recently Mario Monti was placed into office in Italy. He made a comment about Italy's financial crisis that would make any bully proud. Mr. Monti stated that "the IMF doesn't need to ever actually distribute one single Euro to a single Euro country to get out of debt and salvage their economies.

" He said that "all the IMF needed to do was to STATE THAT THEY WERE GOING TO INSURE LIQUIDITY, AND HAVE EACH MEMBER COUNTRY STATE THAT THEY WOULD USE THE LIQUIDITY TO COVER DEBT, AND FOREIGN NATIONS WOULD BE GLAD TO GIVE MONEY TO PROP UP THE EURO AND MEMBER COUNTRIES!"

He is taking the bazooka statement and making it true for Italy's economic situation. The want the world to believe they have liquidity promised... so they can trick the world into giving them liquidity! That is insane!!!!!

I promised good stuff. So since you have been patient, here it is.

The only way in the world that Italy has any money to give to Iraq, is if Italy cashes in Dinar holdings at a RV'd rate! This "loan" is intended to make investors THINK Italy has a bazooka (liquidity) and they hope that we believe it so that Italy and the Euro will never have to prove it... because they can't!

The IMF IS VERY OBVIOUSLY following the insaniac program to a "T". They are now, publicly trying to get everyone to believe that there IS liquidity in Europe... tons of it! The IMF is saying there is so much liquidity in Europe that even the nut job Italians can afford to loan 500 billion!

Follow the lunacy straight to Iraq. They already have a huge IMF loan available to use at any time. They have billions in reserve, and they are playing with their currency auctions at will. They don't even need Italy's fake 500 million! So why the loan?

Because there is an RV just around the corner.

Nothing says "We are not going to RV!" on Monday like saying "We are borrowing money from the most broke and in debt nation in the world" on Sunday. Iraq's golden goose gets cooked if anyone knows the RV date in advance. this is the most blatant lie I have ever seen the IMF put out there, and trust me, it has nothing to do with Italy or the Euro.

Iraq's problem is that they have been selling Dinar to some very bad people lately and the news hit the street and the you know what hit the fan. The IMF is running around saying stupid stuff and Iraq government officials can hardly contain themselves any longer.

Want to watch the Euro get fixed? Hang on, cause the IMF is going to announce it very soon. They are probably NOT going to say it was Iraq because they want us to believe it is the liquidity in Europe that allowed Europe to rally and save their currency. Don't be fooled, it is going to take a monumental financial event... not a fake bazooka! And the only monumental event possible in the world right now is the Iraqi revaluation of its dinar.

Sorry about rambling, but it is all just hype unless you understand WHY it is important that the IMF and Italy are faking a massive loan to Iraq. It is to keep Saudi and China from buying Iraq! But the part that is easy to put in your pocket and keep for lunch is this: Iraq is RV ready and the IMF just messed up big time.

I am telling you quite honestly, I think this is one of the most important articles I have read in a long, long, time. When the IMF is scrambling to get everyone on board with the Euro it is so they can RV Iraq quickly and quietly.

Maybe post RV we can go to Italy and buy ancient artifacts! LOL COME ON BABY... RV!

I want to mention that most of the Italian fiscal info is from the respected economist, Edward Hugh. I want to give him credit for his in-depth charts and research that helped me put this all together. I have not quoted his weekly economic paper directly, but I have used the information he researched and provided freely in this post.

Last edited by Space Cowboy on Tue Feb 07, 2012 3:33 am; edited 1 time in total (Reason for editing : I wanted to give credit to the researcher and Economist, Edward Hugh.)

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umbertino Grand Master

umbertino

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Quote

F that doesn't give you a quick overview of how bad it is there, then consider this: it is estimated that in the next 7 years, Italy will only be able to pay off 4% of the loans it has taken in the last 12 months! That means they are, at the very best, going to default on 96% of all bonds purchased!

End Quote

Bad it is but we are hanging on.. What else can we do anyway...

Expecting to see some results from this techie Gov't led by Mr.Monti ( ex Goldman Sachs Advisor just like current Greek Prime Minister Papademos).

True that my Country has always been on the verge of crap.. In situations even worse than this one......Miraculously it always panned out in the end... Let's see what happens this time.. Honestly I'm reasonably concerned but not to the edge of a nervous breakdown....I've learned about political and economic crises in this Country for at least 30 years...

Our real problem is huge tax-evasion and lack of a serious industrial economic growth policy ( you can add organized crime too)

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umbertino Grand Master

umbertino

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Talking about problems.. Forgot to mention inept corrupt politicians which is a real issue but not just a prerogative of Italy ( I know... very meager consolation)..

It's out of question that we had the absolutely worst Prime Minister of Western Europe since the end of World War II...

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cooked Newbie

cooked

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F that doesn't give you a quick overview of how bad it is there, then consider this: it is estimated that in the next 7 years, Italy will only be able to pay off 4% of the loans it has taken in the last 12 months! That means they are, at the very best, going to default on 96% of all bonds purchased!

End Quote

Bad it is but we are hanging on.. What else can we do anyway...

Expecting to see some results from this techie Gov't led by Mr.Monti ( ex Goldman Sachs Advisor just like current Greek Prime Minister Papademos).

True that my Country has always been on the verge of crap.. In situations even worse than this one......Miraculously it always panned out in the end... Let's see what happens this time.. Honestly I'm reasonably concerned but not to the edge of a nervous breakdown....I've learned about political and economic crises in this Country for at least 30 years...

Our real problem is huge tax-evasion and lack of a serious industrial economic growth policy ( you can add organized crime too)

I feel for you Umbertino. I hope when this pops things have a dramatic improvement for all over there(including you of course).

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umbertino Grand Master

umbertino

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I feel for you Umbertino. I hope when this pops things have a dramatic improvement for all over there(including you of course).

Thank you...Again.. Situation is bad but not ( yet and I hope it never will) at the level of Greece.

I do hope the counter-trend will slowly begin...So far Mr.Monti's recipe has been ( which is obvious) blood, sweat and tears....

To add insult to the injury... Right now a good half of the Country is buried under a lot of snow...Inefficiency is shown... Once again.

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TFK Newbie

TFK

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I feel for you Umbertino. I hope when this pops things have a dramatic improvement for all over there(including you of course).

Italy will have another hey day spending spree and be back in the poop house within a few years. As umberto said, it's always been that way in Italy. The North is the only viable, productive economy and the south has rampant un-employment and is run by corrupt politicians and the mob.

Nice place to visit, but I wouldn't want to live there. Their young people have nothing to do and they're working on their second lost generation... just like Japan!

Don't ya just love those huggable lefties! laugh.gif

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