F Dominicus Blog : bancruptcy

Now it's official

Friedrich Dominicus — Sat, 14 Jan 2012 05:50:00 GMT

The non-plan about a "voluntary" debt cut, is gone. Wel if you have followed this blog you know this hardly can be told to be a suprise.

At first If I'm having the bond I have the right to get my money back. It's up to me and the debtor to figure something out if he's not able to pay. And there is the possibility to get an insurance about a non-paying debtor. So if I'm having the bond and such insurance. Why should I disclaim my rights.

I swore myself some years ago never ever to buy any bond of any government any time again. And so I was out of this bonds in 2009. So it's should not be my business any more. But now the states decide to hand out money they to not have to other governments which are broke. You can imagine how I feel about that. This is theft in it's worst form. But it's theft from governments, and then it's not theft any more. That's ridiculous.

Anyway the private bond holders have said. We are not convinced and now it's obvious Greece is broken. And the "saviors" of the other EU countries are on there way to be broken also. Even the rating companies, finally realize that. But still they are givign most of the states something with an A in it. That's stupid and another lie. Fact ist all but a few countries are broke. Manys in the € zone and we do not have to talk about the US anymore. They has a debt increase over 70% in the last 3 years. They are completly broken also. So neither of them deserves that anyones trusts them any more.

It seems that trust has gone down the drain. And that's a good thing. I hope we'll see the end of this Fiat-money system soon. And I wish this that those which have put us there, get their deserved fait.

Without doubt

Friedrich Dominicus — Tue, 09 Aug 2011 05:22:00 GMT

A lot of money vanished yesterday. I guess we're talking about values at or around 2-10 trillions. How will that be changed if the EZB has bought bonds from Italy and Spain at or around 5-6 billion?

Without doubt, we can say also. Nothing has changed really maybe just the majority starts "understanding" what the central banks and states have done to our money.

I guess they start seeing that fighting problems caused by too much cheap money can not be solved with some tons of other cheap money. And to my pleasure it now hits a few nerves with central bankers, delebets and bureaucrats. I expected such kind of action some 3 years ago. But they were able to keep the impression of solidity and controllability. Everyone just knowing a bit about Austrian economics could not be surprised. I invite you to just browse through the mises blog and their associated blogs like this one. (Yes I'm not very decent) But I have written against this kind of madness right from the start of this blog and my other blot at http://fdominicus.blogspot.com.

I did not even know about the austrian school of economics as I started writing my outside Mises blog. I just keep deer what my grand-parents and parents have told me and lived. The all lived within their bounds. All other things follow from it. We are a family of savers. Nobody knows when one will need some money. And so we saved and invested "cautiously". Along 3 years ago as they started those "failout" programs. I started to invest in gold. I opened accounts in NZ an Switzerland just go get out this EU madness, however I avoided the US as the plague. With all modesty one can say, that has served me well.

However that probably wasn't the end. One MUST start thinking about a break-down of the western countries. I always was optimistic about out ability to learn. But the Deledefs have proven over and over again. "They simply do not get it". That makes them extremely dangerous because they try to regain "control". I'm not sure if that really is possible currently, but as long as they do not start acting responsible I can not see how things could turn to the better. So I expect new laws, new taxes more limits to freedom In fact I expect stupidities as laid out in "Atlas shrugged". I wished I found the John Galt valley....

Investors be aware

Friedrich Dominicus — Wed, 05 May 2010 05:41:00 GMT

If you invest in the EU or Euro zone be prepard to not just econimic hindrance, expect the worst from politicians. Think of taxes on investments and the like and you may not be suprised. If you feel contract have to be obeyed, then forget this as soon as you make contracts with governement agencies. Be prepared for confiscations also. We did it in Germany in 2009, we socialiczed the HRE. If you think we're talking about Peanuts, well we are currently at around 100 000 000 000 Peanuts and counting, according to a few numbers it seems another 15 000 000 000 are due for the "quality papers" of the Greek governement. Rumours were coming up talking about another 280 000 000 000 help for the "spanish" governement. Which have probably driven down the DAX yesterday at around 2%. If you think deledes have learnef from the Failout Plans, well think again. There is not border in sight which may hold back the politicians to drive Europe down into misery. So are you prepared to loose your money or see it getting burned? If yes, invest in Euro land if not, well take your money and run. You will not find a lot of alternatives,but a few may be there. Have a look at Switzerland, Australie, New Zealand, maybe Canada. I'd avoid the following countries like the plague. Greece, Italy, Spain, Portugal, Germany, France, Austria and nearly every country related to good ole Europe but also avoid the US. Those mostly have been burried. Do you want your grave there too? They are a little bit further on their way, the fed takes all the papers issued by the governement and filed it under "asset" and because of this assets they can print money, and more money and more. Money needs trust or value, our current currencies mostly havn't anything of it at all. Trust? Well how can you trust someone who just has collected debts the last 50 years? What value has paper? How difficult could it be to print 1 000 000 000 000 bills? Imagine some german experiences. http://de.wikipedia.org/wiki/Deutsche_Inflation_1914_bis_1923#Banknoten_und_M.C3.BCnzen_der_Hyperinflation I just pick up the "most impressive" number. 4.200.000.000.000,00 that was the price for one US-Dollar in 1923. The largest bank not has been 100 000 000 000 000. It was printed on a sheet of paper, that' all and that's all there is to probably every currency currently. As I asked. What should prevent the next Hperinflation? Our politician aka deledes?

Liberalism on it's way out?

Friedrich Dominicus — Fri, 09 Apr 2010 04:35:00 GMT

Well it seems Liberals will see tough times in the near future, till it will turn out that
they got it right. Let's wait which country bankruptcy will be the tombstone of this ever progressing socialism.

Now it will get interesting for Greece, Portugal, Spain and maybe Italy (funny enough they name them PIGS) in the EU. Very unfair to our
4 -feeted giving bacon, cotelettes etc animals. Fair enough Greece would prefer a EU solution will say countries which did it better (not right) will have to
bear those who used FUD. That's really progress, at first the banks did black-mailing and now the governements follow. Suprise factor is not very high, isnt it?

What also will happen in just a month the "civil" (well they call them themselves "civil" ) majority will face a serious loose of one country (one of the bigges in Germany NRW).
And one of the biggest looser will be the ex "free" democratic party (FDP), which has say goodby to freedom at least nearly two years ago. There is nothing to replace them.

And so the liberals will get marginalized. They will be the margin then which will stand between starving to death and live. And they'll see a revival, when people start anew. But the Hydra
of Buraucracy and "governement" will just be temporary suspended. If it's getting better and better they will raise their ugly head again. And another round of stealing, black-mailing etc will take place.

Man may be intelligent or at least can act intelligent, and is able to learn, men .... well it seems let's have some mass and intelligence will flee.