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France went down..

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Well now France admitted they are over, finito, game over for them...

Yesterday Michel Sapin, who is in charge of the employment ministry in Paris, made it clear the government's tax-and-spend policies were not working.

He said: ‘There is a state but it is a totally bankrupt state.

Read more: http://www.dailymail...l#ixzz2JV0IE400

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Any thoughts on who is next? :(

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Well as the American government will never admit it ... Mexico.

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Well as the American government will never admit it ... Mexico.

Isn't that odd though? It shouldn't matter what the American government is willing or unwilling to admit about our debt and the reality that it will never be paid. The other governments of the world should have called us on it long ago -I wonder why they don't? Maybe because they are all as guilty and they also don't have a solution for this magical pile of paper we have all created?
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Isn't that odd though? It shouldn't matter what the American government is willing or unwilling to admit about our debt and the reality that it will never be paid. The other governments of the world should have called us on it long ago -I wonder why they don't? Maybe because they are all as guilty and they also don't have a solution for this magical pile of paper we have all created?

More likely it's a case of ignoring the elephant in the room because this elephant keeps their own economies going, "when America sneezes, the world catches a cold" that sort of thing. It may very well turn out that we in Australia will have to use the shale oil deposits in order to save our economy.

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We are pretty big consumers. Entire economies would collapse without us to buy the products they produce. It's going to be interesting to see how the whole "we owe more money than physically exists" thing will pan out.

I think around 1.2 trillion dollars exist.

Edited by Wickian

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I wonder if he got the idea from Obama lol.

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Well now France admitted they are over, finito, game over for them...

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Read more: http://www.dailymail...l#ixzz2JV0IE400

Follow us: @MailOnline on Twitter | DailyMail on Facebook

Any thoughts on who is next? :(

I think the whole of Europe is going to pay the Piper when the German taxpayers stop spiking the punch bowl that Europe is still getting drunk on. Germany is trying its best to keep up appearances and be a good community service provider, propping up Europe's interests in centralized power to keep up with the Joneses with its feel-good rose-petal rhetoric but that charade is going to hit the skids and all this time and money is going to soon be realized what a terrible waste its been. This article is but one of many similar articles yet to come. Michael Sapin is just one of the earlier honest voices that are going to throw their hands up and admit the moral and financial bankruptcy they really are.

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Isn't that odd though? It shouldn't matter what the American government is willing or unwilling to admit about our debt and the reality that it will never be paid. The other governments of the world should have called us on it long ago -I wonder why they don't? Maybe because they are all as guilty and they also don't have a solution for this magical pile of paper we have all created?

Odds are the debt will be repaid. What has to happen is to get the US growing at a faster pace. Absent political or physical disaster, this is slowly being achieved. The WWII debt, relatively much larger, was repaid that way. I think the governments buying US treasuries understand this, and in the meantime have a much safer place to stash excess capital than anything else.

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Great to see so many people are in touch with current events. We just need a solution before it happens to others. Since Obama hasnt offered anything, he dodges this question as it was brought from hell, only solution i heard came from Larouche and many other professors worldwide. They all agreed that best option to prevent any more damage to economy and stability, is to reverse whole thing back to Glass steagall act.

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Well now France admitted they are over, finito, game over for them...

Any thoughts on who is next? :(

If France goes it will take the UK, Spain and Italy with it.

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If France goes it will take the UK, Spain and Italy with it.

No fears,the Germans will bail them out.

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No fears,the Germans will bail them out.

I agree but for how long? Even Germany will run out of funds soon and when that happens EU will be done for..

You will see country after country going bakrupt. Only Germany is keeping EU zone somewhat of stable

This all is now just a mtter of time tommorow,next week, next month.. As US will effect us so will EU affect US..

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Banks have a vested interest in not letting their clients go bankrupt - so they will carry on printing imaginary money to allow their addicted clients to keep on paying them back. A circle with only one end point. One day the world will wake up and leave the banks holding the imaginary debt they invented out of thin air. That day is indeed coming and it will cascade like a domino snake all the way to everyones back doors. No one will escape this day of reckoning.

Br Cornelius

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I agree but for how long? Even Germany will run out of funds soon and when that happens EU will be done for..

You will see country after country going bakrupt. Only Germany is keeping EU zone somewhat of stable

This all is now just a mtter of time tommorow,next week, next month.. As US will effect us so will EU affect US..

I wonder if you have any idea of where money comes from. Governments don't run out of it (unless they have tied their hands with some treaty like the Eurozone).

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I agree but for how long? Even Germany will run out of funds soon and when that happens EU will be done for..

You will see country after country going bakrupt. Only Germany is keeping EU zone somewhat of stable

This all is now just a mtter of time tommorow,next week, next month.. As US will effect us so will EU affect US..

Well, let me put it this way: despite bailing out half of Europe the German treasury is still collecting enough money that a balanced budget for 2013 would have been possible... were it not for the governing parties passing out presents for the upcoming elections postponing the balancing to 2014.

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Banks have a vested interest in not letting their clients go bankrupt - so they will carry on printing imaginary money to allow their addicted clients to keep on paying them back. A circle with only one end point. One day the world will wake up and leave the banks holding the imaginary debt they invented out of thin air. That day is indeed coming and it will cascade like a domino snake all the way to everyones back doors. No one will escape this day of reckoning.

Br Cornelius

Nah, I'm not the least bit worried. When there is too much money around prices go up and the cash gets absorbed. Then they print some more. You can have hyperinflation and the society continues to function. Money is just the token for the price signal markets give buyers and sellers on how much of what to produce and who can have it. It's a yardstick, and it's a damn nuisance if your yardstick keeps changing in length, forcing constant redrawing of blueprints, but it can be adjusted to.
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I disagree at one time dollar will become worthless and that will be because of hyperinflation.. countries will no longer sell you oil for dollar, probably many other goods too... You cannot spend something you dont have..

Again this video shows pretty good idea of how it works... US debt is officaly on 16 trillion dollars.

[media=]http://www.youtube.com/watch?v=XhKjlPYBoP4[/media]

Even the guy who works against you people is saying the cruel reality at hand...

http://www.youtube.com/watch?v=o287lvQOxrs

Edited by Tesla II

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i hope the French who are a great power get their economy back on the right track. the world will be a worse place with a diminished France. it would also be sad to see an old ally slowly fade, people seem to rejoice in a British decline, but no one ever mentions France in the same breath and yet people seem to forget the world only has two great powers left the UK and France. its remarkable. Vive La France.

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i hope the French who are a great power get their economy back on the right track. the world will be a worse place with a diminished France. it would also be sad to see an old ally slowly fade, people seem to rejoice in a British decline, but no one ever mentions France in the same breath and yet people seem to forget the world only has two great powers left the UK and France. its remarkable. Vive La France.

We've been loyal allies to each other for a long, long, time.

Shame they have too much debt for us to help out.

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Well, let me put it this way: despite bailing out half of Europe the German treasury is still collecting enough money that a balanced budget for 2013 would have been possible... were it not for the governing parties passing out presents for the upcoming elections postponing the balancing to 2014.

Thing is what state will their exports be in if the European economies continue to decline. Surely if France, UK, Spain, Italy, Portugal, Greece etc economies continue to shrink it will have a knock on effect to the Germans?

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Unfortunately the banks are now the clients of the government and the government is financed by the taxpayers. The only real production comes from work, not central bankers. This bad fiscal habit of print, borrow and spend is going to ripple through the economy in waves of pain and it's going to be the taxpayers a la the consumers left holding the bag. It's a shame the West is still sleeping the deep, deep sleep of England but when their own feet get wet they'll wake up, albeit it much too late to stop the avalanche.

It's a new age now, the rise of the East. That's where all the money is. And that's where all the business and real production are going. They follow the money naturally.

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No fears,the Germans will bail them out.

What makes you think that if France goes legs up, it will take Britain with it, we are not part of the Euro Currency, we still have the BRITISH POUND,not flaming Euroes.
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What makes you think that if France goes legs up, it will take Britain with it, we are not part of the Euro Currency, we still have the BRITISH POUND,not flaming Euroes.

One thing is for sure the rest of europe will blame the UK. :yes:

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i hope the French who are a great power get their economy back on the right track. the world will be a worse place with a diminished France. it would also be sad to see an old ally slowly fade, people seem to rejoice in a British decline, but no one ever mentions France in the same breath and yet people seem to forget the world only has two great powers left the UK and France. its remarkable. Vive La France.

Sorry Mate I cant agree, France cant even manage the fracas in Mali,and we offered to help which they gladly accepted. If things brew up in the Falklands do you think France will send troops to help us, not a b***** chance.The rising World powers are now China and India.
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Unfortunately the banks are now the clients of the government and the government is financed by the taxpayers. The only real production comes from work, not central bankers. This bad fiscal habit of print, borrow and spend is going to ripple through the economy in waves of pain and it's going to be the taxpayers a la the consumers left holding the bag. It's a shame the West is still sleeping the deep, deep sleep of England but when their own feet get wet they'll wake up, albeit it much too late to stop the avalanche.

It's a new age now, the rise of the East. That's where all the money is. And that's where all the business and real production are going. They follow the money naturally.

I think you will find that it is the opposite way round. If you look at the policy responses of the Governments of the world - they have all favoured the banks first and formost, and they all have prominent bankers as chief central government advisers on a revolving door basis. We seem to be run by the banks at the moment.

Br Cornelius

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