Could the EU crash? - GoFuckYourself.com

DVTimes · 05-17-2012, 03:46 PM

People are pulling millions out our Greece banks.

But as the EU dollor drops in value surly others in other countries will pull there savings out and put in other courancies.

Once a panick starts people all over the EU will be trying to get there cash out.

Overload · 05-17-2012, 04:04 PM

i say rubbish ... it aint gonna happen

CYF · 05-17-2012, 04:10 PM

could it? Sure. Will it? Probably not.

grumpy · 05-17-2012, 04:58 PM

We will see separation between north and south.

u-Bob · 05-17-2012, 05:46 PM

TBH: I'm hoping for a German exit.

mavruda · 05-17-2012, 06:14 PM

Quote:

Originally Posted by DVTimes

People are pulling millions out our Greece banks.

But as the EU dollor drops in value surly others in other countries will pull there savings out and put in other courancies.

Once a panick starts people all over the EU will be trying to get there cash out.

EU won't allow Greece to collapse. They are positioned in very strategic trade route and if they go out of EU - that will affect the whole trading process. No one needs that - and that's one of the reasons EU is making efforts of saving them.

On the other side there's a possibility the whole thing to go down with huge boom.

Shagbunny · 05-17-2012, 06:18 PM

The problem with the EU is that they want the benefits like the US of having one currency, open borders etc... problem is in the US it don't matter where a factory is built, could be in Florida or Missouri, the nation benefits from foreign investment. In Europe, they all fight for that factory and investments, nations like Germany and France benefit most of the time and the southern nations like Spain and Greece lose out whereas in the past, their currencies would favor say a Japan building a parts factory in Spain instead of Germany, now Spain loses out.

Alex69 · 05-17-2012, 06:36 PM

let the euro hit the floor,
let the euro hit the floor,
let the euro hit the flooooooooooooooooooooooooooooooooor

Redrob · 05-17-2012, 09:58 PM

Today, sucks to be in Greece.
Next month, sucks to be in the EU.
Next Dec 22, sucks to be in the rest of the World.

BIGTYMER · 05-17-2012, 10:00 PM

Greece will exit. It's not if but when.

Captain Kawaii · 05-18-2012, 01:33 AM

It was reported tonight that in past year, 900 million euros pulled out of Greece and 80 billion euros and placed in northern europe banks for the most part. That and mattresses, chicken butts and under dirt floors...
IF EU crumbles US will be right behind her...Hope all will be well...

webgurl · 05-18-2012, 03:27 AM

Im getting a good exchange right now with GBP to Euros, 122Euros = 100GBP.
Last month in April I was getting 117Euros for 100GBP. I am looking to exchange more this coming month since I am going to Italy in July, I wonder if I should wait?

Chosen · 05-18-2012, 03:37 AM

Quote:

Originally Posted by Redrob

Today, sucks to be in Greece.
Next month, sucks to be in the EU.
Next Dec 22, sucks to be in the rest of the World.

Paul Markham · 05-18-2012, 03:45 AM

Quote:

Originally Posted by mavruda

EU won't allow Greece to collapse. They are positioned in very strategic trade route and if they go out of EU - that will affect the whole trading process. No one needs that - and that's one of the reasons EU is making efforts of saving them.

On the other side there's a possibility the whole thing to go down with huge boom.

They have to let Greece go. They can't keep supporting them, Spain, Portugal and Italy.

Quote:

Originally Posted by Jesus H Christ

The ECB and the IMF already said no to funding Greece unless they capitulate to austerity. Here's the problem. The EU can't let Greece fail because if they do leave the union others with much larger debt amounts like Italy and Spain will also bail. More importantly, France is one of the main underwriters of debt in all three countries.

So France and Germany have to go into massive austerity to support the rest of the EU that won't.

You're all forgetting voters, they simply have had enough of the politicians dream. They see the flaws.

It will go back to be a trading agreement and freedom of some movement. Even the "Border-less" EU has flaws. Rumanian gypsies going to the UK with loads of kids and putting them on benefits. Plus freer movement of crime.

BIGTYMER · 05-18-2012, 03:59 AM

Greece must exit. It is so bad there it isn't even funny. Shambles.

MaDalton · 05-18-2012, 04:52 AM

Quote:

Originally Posted by u-Bob

TBH: I'm hoping for a German exit.

but who will pay for everything then?

The EU needs Germany and Germany needs the EU - there's a reason why they are the second strongest export nation behind China

and besides all the weaknesses and problems i still like the EU and the Euro. you people need more optimism

seeandsee · 05-18-2012, 04:54 AM

I will stack cash in US$ :d

pornguy · 05-18-2012, 05:32 AM

The collapse of the banks might be the very best thing that could happen.

Freaky_Akula · 05-18-2012, 06:04 AM

TisMe · 05-18-2012, 08:23 AM

I think the worst is yet to come as the problems in Italy, Spain and Portugal will make Greece look minor in comparison.

EU can support 1 country failing, but 4?

djroof · 05-18-2012, 08:35 AM

European Union is stupid and #epic fail idea!

They thought that EE will be something like USA but USA has states and is something like a union... EE hasn't states BUT COUNTRIES with + and -, different people, religions, currencies, languages etc... and they want ALL countries wears the "same EE shirt" this is soooo wrong!

Greece will not be out of EE. Germany needs EE because alone in europe is a joke! Germany wants other countries has good economy so to can sell them everything which produce from guns to electronics, cars etc... if the rest of europe fails then Germany will push in their ass all the stuff which produce... so simple...

Paul · 05-18-2012, 11:48 AM

Quote:

Originally Posted by Jesus H Christ

I said this months ago, France is the one truly in trouble as far as the EU. France's stock market is minus -50% in the last 5 years and currently trading at 1997 level. This means all their SM gains in the last 15 years are gone. France is the largest shareholder of Greek, Italian, and Spanish debt, plus with a shitty SM, their economy will also collapse by proxy.

The UK is in far more trouble, but they've manage to always pay their interest payments. The UK GDP is $2.25 Trillion as their external debt $8.9 trillion. The UK GDP yearly gains are 3% as 67% of these profits pay the interest of the debt and not the principle. In short, every British subject owes $143,009 from birth, compared to Americans $47,568.

Although that's bad, other Europeans are totally fucked.

Luxembourg $3,696,467
Ireland $519,070
Netherlands $226,503

So what does all this mean besides we are all fucked? If Greece says fuck it and defaults bank runs continue all across Europe, banks can't loan money with (9x) fake money, and credit market freezes, production slows, spending slows, job loses, foreclosures, property values collapse, GDP decreases, interest on loans don't get paid, countries default, social services stop, crime increases, civil unrest, and finally a type of Martial law.

Or keep giving Greece money and worry later about the inevitable.

I stopped keeping up to date with all this stuff about 2 years ago because it was too depressing, your post is an up to date sobering reminder of the absolute shit we are all in.

Great post

How are you protecting yourself against what seems like the inevitable? Gold, stockpiling food, land etc? You've mentioned you're big into promoting the survivalist websites online, personally I don't want to go down that road of thinking again.

I jumped the gun on that scenario back in October 2007 when the global banking system was days away from collapsing, converted most of my savings to gold and told everyone I knew to go out and stockpile food thinking we where doing a repeat of the 1930s bank runs.

But governments decided to prop up the banks this time and everyone I had told decided to mock me for my actions, my investment has more than doubled in value though so it's not all bad

Quote:

Originally Posted by pornguy

The collapse of the banks might be the very best thing that could happen.

Would probably be less painful longterm but it'll start World War III

raymor · 05-18-2012, 11:37 PM

Quote:

Originally Posted by Jesus H Christ

Greece had a bank run this month as ?6 billion was pulled from local banks. Some will say that's not much, but in the banking world you can loan up to 9x (Fiat) of your deposits. This means ?50 billion in loans will now need to be covered by other deposits. So if bank runs continue, as they surly will, ?300 billion in loans will need to be covered in the coming months by European banks. Greece already owes 133% of its $305.6 billion GDP with compounding interest that they can't even manage to pay now.

So why do they keep throwing money at Greece? Because Greece is at the point where they owe so much they CAN say fuck it and default, bring back the drachma, and recover (better then now) faster with zero and be in the positive within 10 years or be in debt with the EU for the next 100. It's the same with Spain and Italy, on the cusp where it's actually a faster long term recovery to default, then pay all the money owed. Greece knows this and opted to milk the EU like a 21 year old would, maxing out their CC before filing for bankruptcy.

I said this months ago, France is the one truly in trouble as far as the EU. France's stock market is minus -50% in the last 5 years and currently trading at 1997 level. This means all their SM gains in the last 15 years are gone. France is the largest shareholder of Greek, Italian, and Spanish debt, plus with a shitty SM, their economy will also collapse by proxy.

The UK is in far more trouble, but they've manage to always pay their interest payments. The UK GDP is $2.25 Trillion as their external debt $8.9 trillion. The UK GDP yearly gains are 3% as 67% of these profits pay the interest of the debt and not the principle. In short, every British subject owes $143,009 from birth, compared to Americans $47,568.

Although that's bad, other Europeans are totally fucked.

Luxembourg $3,696,467
Ireland $519,070
Netherlands $226,503

So what does all this mean besides we are all fucked? If Greece says fuck it and defaults bank runs continue all across Europe, banks can't loan money with (9x) fake money, and credit market freezes, production slows, spending slows, job loses, foreclosures, property values collapse, GDP decreases, interest on loans don't get paid, countries default, social services stop, crime increases, civil unrest, and finally a type of Martial law.

Or keep giving Greece money and worry later about the inevitable.

That's the best post I've ever seen from you. I didn't know you were that knowledgeable. For those who don't like reading long posts, the Cliff Notes are this - the EU is fucked. Two thirds of the UK budget is wasted paying INTEREST on debt, so they are fucked and mathematically there is basically no way out.

sandman! · 05-18-2012, 11:42 PM

might happen you never know...

Sid70 · 05-19-2012, 12:11 AM

blah blah blah .. blah! blah blah ing!

just a punk · 05-19-2012, 12:39 AM

Quote:

Originally Posted by DVTimes

Could the EU crash?

Why not? This happens to every "non-organic" union. E.g. Soviet Union.

Paul · 05-19-2012, 04:51 AM

Quote:

Originally Posted by raymor

That's the best post I've ever seen from you. I didn't know you were that knowledgeable. For those who don't like reading long posts, the Cliff Notes are this - the EU is fucked. Two thirds of the UK budget is wasted paying INTEREST on debt, so they are fucked and mathematically there is basically no way out.

They could probably inflate their way out of it Weimar Republic Hyperinflation style, that scenario would most likely have to be a group effort in the West though.

Quote:

Originally Posted by Jesus H Christ

You know and I know there is no way this can continue, besides we're webmasters that only need an internet connection to live, so why not live on your own 208 acres ranch on the river and off the grid if you like?

I agree with every word but unfortunately when speaking to most people (The X Factor generation) it doesn't matter how much solid foundation or facts you bring to an argument you end up pigeonholed/branded in the tinfoil hat brigade

I like the idea of living off grid though, purely from an energy perspective it makes sense being self sufficient with the way energy prices have doubled in the past 2 years and will continue to do so.

Have a guess at what EU country I'm from, you'll laugh

Paul · 05-20-2012, 01:10 AM

Quote:

Originally Posted by Jesus H Christ

Hmmm,...Greece?

Ireland

05-17-2012, 03:46 PM	#1
DVTimes xxx Industry Role: Join Date: Jun 2003 Location: UK Posts: 31,544	Could the EU crash? People are pulling millions out our Greece banks. But as the EU dollor drops in value surly others in other countries will pull there savings out and put in other courancies. Once a panick starts people all over the EU will be trying to get there cash out. __________________ The Affiliate Program

05-17-2012, 04:04 PM	#2
Overload Confirmed User Industry Role: Join Date: Jul 2005 Location: Beck's City, North Teutonia Posts: 3,185	i say rubbish ... it aint gonna happen __________________ There aren't enough faces and palms on this planet for an appropriate reaction to religion.

05-17-2012, 04:10 PM	#3
CYF Coupon Guru Industry Role: Join Date: Mar 2009 Location: Minneapolis Posts: 10,973	could it? Sure. Will it? Probably not. __________________ Webmaster Coupons Coupons and discounts for hosting, domains, SSL Certs, and more! AmeriNOC Coupons \| Certified Hosting Coupons \| Hosting Coupons \| Domain Name Coupons

05-17-2012, 04:58 PM	#4
grumpy Too lazy to set a custom title Join Date: Jan 2002 Location: Holland Posts: 9,870	We will see separation between north and south. __________________ Don't let greediness blur your vision \| You gotta let some shit slide icq - 441-456-888

05-18-2012, 04:54 AM	#17
seeandsee Check SIG! Industry Role: Join Date: Mar 2006 Location: Europe (Skype: gojkoas) Posts: 50,945	I will stack cash in US$ :d __________________ BUY MY SIG - 50$/Year Contact here

05-17-2012, 05:46 PM	#5
u-Bob there's no $$$ in porn Industry Role: Join Date: Jul 2005 Location: icq: 195./568.-230 (btw: not getting offline msgs) Posts: 33,063	TBH: I'm hoping for a German exit.

05-17-2012, 06:18 PM	#7
Shagbunny Confirmed User Industry Role: Join Date: Oct 2007 Location: wut Posts: 3,028	The problem with the EU is that they want the benefits like the US of having one currency, open borders etc... problem is in the US it don't matter where a factory is built, could be in Florida or Missouri, the nation benefits from foreign investment. In Europe, they all fight for that factory and investments, nations like Germany and France benefit most of the time and the southern nations like Spain and Greece lose out whereas in the past, their currencies would favor say a Japan building a parts factory in Spain instead of Germany, now Spain loses out.

05-17-2012, 06:36 PM	#8
Alex69 Confirmed User Join Date: Aug 2007 Posts: 328	let the euro hit the floor, let the euro hit the floor, let the euro hit the flooooooooooooooooooooooooooooooooor

05-17-2012, 09:58 PM	#9
Redrob Confirmed User Industry Role: Join Date: Oct 2004 Location: In a refrigerator box by the tracks. Posts: 4,790	Today, sucks to be in Greece. Next month, sucks to be in the EU. Next Dec 22, sucks to be in the rest of the World.

05-17-2012, 10:00 PM	#10
BIGTYMER Junior Achiever Industry Role: Join Date: Nov 2004 Location: Walled Garden Posts: 17,066	Greece will exit. It's not if but when.

05-18-2012, 01:33 AM	#11
Captain Kawaii So Fucking Banned Industry Role: Join Date: Oct 2007 Posts: 6,748	It was reported tonight that in past year, 900 million euros pulled out of Greece and 80 billion euros and placed in northern europe banks for the most part. That and mattresses, chicken butts and under dirt floors... IF EU crumbles US will be right behind her...Hope all will be well...

05-18-2012, 03:27 AM	#12
webgurl Confirmed User Join Date: Aug 2002 Location: Clouds with Carebears Posts: 7,954	Im getting a good exchange right now with GBP to Euros, 122Euros = 100GBP. Last month in April I was getting 117Euros for 100GBP. I am looking to exchange more this coming month since I am going to Italy in July, I wonder if I should wait?

05-18-2012, 03:59 AM	#15
BIGTYMER Junior Achiever Industry Role: Join Date: Nov 2004 Location: Walled Garden Posts: 17,066	Greece must exit. It is so bad there it isn't even funny. Shambles.

05-18-2012, 05:32 AM	#18
pornguy Too lazy to set a custom title Industry Role: Join Date: Mar 2003 Location: Homeless Posts: 62,911	The collapse of the banks might be the very best thing that could happen. __________________ PornGuy skype me pornguy_epic AmateurDough The Hottes Shemales online! TChicks.com \| Angeles Cid \| Mariana Cordoba \| MAILERS WELCOME!

05-18-2012, 06:04 AM	#19
Freaky_Akula Confirmed User Join Date: Oct 2005 Posts: 3,670	__________________

05-18-2012, 08:23 AM	#20
TisMe Confirmed User Join Date: Aug 2008 Posts: 1,719	I think the worst is yet to come as the problems in Italy, Spain and Portugal will make Greece look minor in comparison. EU can support 1 country failing, but 4?

05-18-2012, 08:35 AM	#21
djroof JuicyDevils.gr Owner Industry Role: Join Date: Jan 2004 Location: Greece Posts: 25,396	European Union is stupid and #epic fail idea! They thought that EE will be something like USA but USA has states and is something like a union... EE hasn't states BUT COUNTRIES with + and -, different people, religions, currencies, languages etc... and they want ALL countries wears the "same EE shirt" this is soooo wrong! Greece will not be out of EE. Germany needs EE because alone in europe is a joke! Germany wants other countries has good economy so to can sell them everything which produce from guns to electronics, cars etc... if the rest of europe fails then Germany will push in their ass all the stuff which produce... so simple...

05-18-2012, 11:42 PM	#24
sandman! Icq: 14420613 Industry Role: Join Date: Mar 2001 Location: chicago Posts: 15,432	might happen you never know... __________________ Need WebHosting ? Email me for some great deals [email protected]

05-19-2012, 12:11 AM	#25
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