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Thread: Spain Downgraded to One Level Above Junk by S&P on Risks

  1. #1

    Spain Downgraded to One Level Above Junk by S&P on Risks

    http://www.bloomberg.com/news/2012-1...-on-risks.html

    on the other hand, Iceland had a happy outcome...
    "Integrity means having to say things that people don't want to hear & especially to say things that the regime doesn't want to hear.” -Ron Paul

    "Bathtub falls and police officers kill more Americans than terrorism, yet we've been asked to sacrifice our most sacred rights for fear of falling victim to it." -Edward Snowden



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  3. #2
    Iceland partially held the Banksters responsible for their crash responsible for their actions, and forgave some of the debt created by those Banksters. That in and of itself should set an example for what the rest of the world needs to do.

    One big problem with money. Less money exists than debt does. And those that hold the debt will want to collect on it. If all the money on the planet (fiat, gold backed, you name it, ALL the money) was used to pay off as much of the debt as possible, all the money would be gone, but a huge level of debt would still remain.

    Well this ought to be fun to listen to remarks about that last statement...
    1776 > 1984

    The FAILURE of the United States Government to operate and maintain an
    Honest Money System , which frees the ordinary man from the clutches of the money manipulators, is the single largest contributing factor to the World's current Economic Crisis.

    The Elimination of Privacy is the Architecture of Genocide

    Belief, Money, and Violence are the three ways all people are controlled

    Quote Originally Posted by Zippyjuan View Post
    Our central bank is not privately owned.

  4. #3
    Iceland is a tiny little country. It'd be hard to replicate their example. There are important scalability issues. If the Spanish government simply lets the banks go over and tells depositors and creditors to suck up, the consequences would reverberate all over the world.

  5. #4
    Quote Originally Posted by DeMintConservative View Post
    Iceland is a tiny little country. It'd be hard to replicate their example. There are important scalability issues. If the Spanish government simply lets the banks go over and tells depositors and creditors to suck up, the consequences would reverberate all over the world.
    True, but it would be fun to watch.
    "Perfect safety is not the purpose of government." - Ron Paul

    Quote Originally Posted by brushfire View Post
    "I was in the rain forest once, and it rained on me..."
    Quote Originally Posted by Carson View Post
    Ron Paul suggested a very good first step to the process of restoring sound money... It was beautiful. It left them all standing with their fiats out.
    Quote Originally Posted by acptulsa View Post
    'Excuse us, we'll be leaving now. Oh, and you don't mind if we just steal this Constitution before we go? You @#$%s aren't using it anyway...'

  6. #5

    Spain's rating @ BBB- near junk

    http://finance.yahoo.com/news/p-cuts...002023548.html

    And a 25% unemployment rate! whoa...

    We're being governed ruled by a geriatric Alzheimer patient/puppet whose strings are being pulled by an elitist oligarchy who believe they can manage the world... imagine the utter maniacal, sociopathic hubris!

  7. #6
    Ranked 12th in the world and 4th in the Eu zone.

    http://en.wikipedia.org/wiki/Economy_of_Spain

    compared with Greece: 32nd in the world and 15th in the EU zone.

    http://en.wikipedia.org/wiki/Economy_of_Greece

    We're being governed ruled by a geriatric Alzheimer patient/puppet whose strings are being pulled by an elitist oligarchy who believe they can manage the world... imagine the utter maniacal, sociopathic hubris!

  8. #7
    Let the reverberations begin
    "Liberty lies in the hearts of men and women; when it dies there, no constitution, no law, no court can save it; no constitution, no law, no court can even do much to help it."
    James Madison

    "It does not take a majority to prevail ... but rather an irate, tireless minority, keen on setting brushfires of freedom in the minds of men." - Samuel Adams



    Μολὼν λάβε
    Dum Spiro, Pugno
    Tu ne cede malis sed contra audentior ito

  9. #8
    This is crazy, it's not like they're heavily indebted and in a recession!!!

    Don't expect them to care tomorrow, it's a public holiday.



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  11. #9
    and this in Britain!

    http://news.yahoo.com/british-pm-tel...-business.html

    The International Monetary Fund slashed its growth forecasts for Britain on Monday, casting a shadow over the Conservatives' annual conference where Cameron hoped to rally his party and convince voters his economic plans were the only way forward.

    "Here's the truth," Cameron told an overflowing hall of Conservatives in the English city of Birmingham. "The damage was worse than we thought, and it's taking longer than we hoped."

    "The world economy, especially in the euro zone, has been much weaker than expected in the past two years. When some of our big trading partners like Ireland, Spain and Italy are suffering, they buy less from us. That hurts our growth and makes it harder to pay off our debts."

    We're being governed ruled by a geriatric Alzheimer patient/puppet whose strings are being pulled by an elitist oligarchy who believe they can manage the world... imagine the utter maniacal, sociopathic hubris!



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