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Countdown to €/£ parity | 102 comments (102 topical, editorial, 0 hidden)
Re: Countdown to €/£ parity (4.00 / 3)
The key issue is the value of the assets Britain can set against its 400% of GDP external debt mountain.  If those assets are in quality profitable companies, then fine.  If they are in derivatives, dodgy mortgages and other asset bubbles and Ponzi schemes, then you are looking at a massive default.

notes from no w here
by Frank Schnittger (mail Frankschnittger at hot male dotty communists) on Fri Dec 12th, 2008 at 09:39:29 AM EST
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Re: Countdown to €/£ parity (4.00 / 3)
If they are in derivatives, dodgy mortgages and other asset bubbles and Ponzi schemes, then you are looking at a massive default.

As always the bottom line is income. Repayment is dependent on income, irrespective of sources. Of course, many of us are watching in wonder as central bankers connive QoQ by ForEx and mineral reserves to "ease" the obligations of their most favored clientele.

Diversity is the key to economic and political evolution.

by Cat on Fri Dec 12th, 2008 at 10:29:16 AM EST
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Countdown to €/£ parity | 102 comments (102 topical, 0 editorial, 0 hidden)
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