Martin Kasasian, Mqabba
Bailing out Ireland
Who would have thought that little Malta would be standing as one of the guarantors for the country which until recently was hailed as the economic miracle of Europe – the Republic of Ireland? Perhaps you would like to bail the UK out while you are at it.
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7 Comments
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Joseph Ellul - Sydney
Dec 3rd 2010, 05:55
Mr Kasasian, the USofA bailed out a hell of a lot of countries and banks. Remember Australia ? They said that their banks were rock solid. Now we found out that the NAB and another bank went begging at the FED. They got over 1 Billion $US each. This was all top secret up till yesterday. The FED let the cat out of the bag before Wikileaks did.
Now, please understand that the US is doing this to show the Chinese and the Indians that unless they revalue their currencies, then the world will devalue theirs with the support of the US Dollar.... Why?...Because China and other countries have been using the $US to keep theirs low. The $US has a long way to go down yet.
This will ultimately mean that next year and the next anything you buy from China or India is going to cost you much more. Just buy what you need now, just do not buy rubbish.
Also invest in things that go up in value such as rare antiques, gold and silver and a good property with nice views of Malta.
The Americans are coming.
David Treble
Dec 2nd 2010, 23:49
Martin , And how are you all in little Malta going to pay the Air malta debt and Enemalta debt ???
I hope that the Maltese tax payer has deep pockets !!!!! Dig deep boys and girls.!!!
victor caruana
Dec 2nd 2010, 16:44
In the meantime the british are publicly thanking God for not adopting the euro!!!!
Peter Spiteri
Dec 2nd 2010, 14:50
There is a list waiting for bailout. Portugal, Spain, Italy, Cyprus....
Richard Muscat
Dec 2nd 2010, 12:43
These seem to be good times for the sceptics and prophets of gloom...solidarity, even in the financial sense, is a prerogative of membership of both eu and eurozone. Time will be gentleman, as always.
Paul Preston
Dec 2nd 2010, 09:56
True .. But don't worry i'm sure there is more to come on the Horizon .. Italy .. Portugal and perhaps even Spain coming soon with their "Begging Caps" ,. Imagine what the good old German's think about it all ? .. The joys of being in the Euro and all that ?
Joseph Ellul - Sydney
Dec 3rd 2010, 06:18
The USA was always jealous of a united Europe. When the US got in strife it spread its venom in Europe and other countries. You must understand that to kill the Eu, first you have to build up a strong partner. This partner is China. China is a partner to the US by default not wilfully. The US dollar is the most valued currency and the most used, and so the US had to flood the markets. This could not be done in a year. So the great transfer started in the 80's using mostly China and also India as its cheap labor factories. The US kept printing US$ and paid China and India.
But the US has no more real money and so it tells everybody so. Now China gets grumpy with all that stored devalued US$. The US says that they do not care and so prints some 2 trillion US$ more.
Look at this: US of A has 540 tonnes of gold and 350 million people
China has 280 tonnes of gold + vast reserves of US$ and 1300 million people.
Can you make heads or tails of this ? I cannnot.