By Harry Wilson, and Philip Aldrick
A more severe crash than the one triggered by the collapse of Lehman Brothers could be on the way, according to alarm signals in the credit markets. ï»¿
Insurance on the debt of several major European banks has now hit historic levels, higher even than those recorded during financial crisis caused by the US financial groupâ€™s implosion nearly three years ago.
Credit default swaps on the bonds of Royal Bank of Scotland, BNP Paribas, Deutsche Bank and Intesa Sanpaolo, among others, flashed warning signals on Wednesday. Credit default swaps (CDS) on RBS were trading at 343.54 basis points, meaning the annual cost to insure Â£10m of the state-backed lenderâ€™s bonds against default is now Â£343,540.
The cost of insuring RBS bonds is now higher than before the taxpayer was forced to step in and rescue the bank in October 2008, and shows the recent dramatic downturn in sentiment among credit investors towards banks.
â€œThe problem is a shortage of liquidity â€“ that is what is causing the problems with the banks. It feels exactly as it felt in 2008,â€ said one senior London-based bank executive.
â€œI think we are heading for a market shock in September or October that will match anything we have ever seen before,â€ said a senior credit banker at a major European bank....Telegraph
Then we can close all foreign military bases.
Afterwards, we will have to completely review all spending and laws that were passed to bolster corporate rule.
Then we could completely renovate the education system. No more dropouts. You either get educated, go to trade school or serve in the all voluntary military. You want Uncle Sam to pay your way? Fine, you get three squares and a bed. Here is your rifle. March. No more welfare.
Of course it would be far more involved than I made it sound. For instance, people already on welfare would have to be trained/educated and weaned from the system. No more free rides. No more kit gloves.
I am not your rolling wheels, I am the highway
I am not your carpet ride I am the sky
I am not your blowing wind, I am the lightning
I am not your autumn moon, I am the night
With The State you will always have a tyrant. "Power Corrupts absolute power corrupts absolutely "
"Anarchy is the order of the day among hunter-gatherers. Indeed, critics will ask why a small face-to-face group needs a government anyway. [...] If this is so we can go further and say that since the egalitarian hunting-gathering society is the oldest type of human society and prevailed for the longest period of time â€“ over thousands of decades â€“ then anarchy must be the oldest and one of the most enduring kinds of polity. Ten thousand years ago everyone was an anarchist."
Harold Barclay, American anthropologist
We need to look back at how our ancient ancestors lived and those that exist today that cling to that way of life. With the State beating them down and burning them off the land.
DISCLAIMER / Terms of Service (TOS):
Kritterbox.com - Socialize anonymously, commentary, discussion, oddities, technology, music and more! This website is provided "as is" without warranty of any kind, either expressed or implied. kritterbox.com shall not be liable for any damages whatsoever, including, without limitation, those resulting from loss of use, data or profits, whether or not advised of the possibility of damage, and on any theory of liability, arising out of or in connection with the use or performance of this site or other documents which are referenced by or linked to this site.
This website exists solely for the purposes of exchange of information, communication and general entertainment. Opinions from posters are in no way endorsed by kritterbox.com. All posts on this website are the opinion of the authors and are not to be taken as statements of fact on behalf of kritterbox.com. This site may contain coarse language or other material that kritterbox.com is in no way responsible for. Material deemed to be offensive or pornographic at the discretion of kritterbox.com shall be removed. kritterbox.com reserves the right to modify, or remove posts and user accounts on this website at our discretion. kritterbox.com disclaims all liability for damages incurred directly or indirectly as a result of any material on this website. Fictitious posts and any similarity to any person living or dead is coincidental.
All users shall limit the insertion of any and all copyrighted material to portions of the article that are relevant to the point being made, with no more than 50%, and preferably less of the original source material. A link shall be visible in text format, embedded directly to the original source material without exception.
No third party links, i.e. blogs or forums will be accepted under any circumstances, and will be edited by staff in order to reflect the original source of copyrighted material, or be removed at the sole discretion of kritterbox.com.
Fair Use Notice:
This site may contain copyrighted material the use of which has not always been specifically authorized by the copyright owner. Users may make such material available in an effort to advance awareness and understanding of issues relating to economics, individual rights, international affairs, liberty, science, and technology. This constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C.Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for educational and/or research purposes.
This Disclaimer is subject to change at any time at our discretion.
Copyright © 2011 - 2017 kritterbox.com