Wednesday, May 25, 2011

Belarus Falls - Currency Devalued, Shelves Empty

Watch the banksters destroy the lower class (Pictures)-
A sharp devaluation of the Belarusian ruble has spread panic across the country, with people rushing on Wednesday to buy dollars, euros, toasters and canned goods — anything that will not lose its value as quickly as the national currency.

Belarusians swept store shelves and queued for entire days at currency exchange offices in a desperate attempt to protect their savings from the country's sinking fortunes.

President Alexander Lukashenko promised that the national currency will remain stable following the devaluation ordered a day earlier, but experts warned it will continue its nosedive if Russia doesn't provide a quick bailout.
The Real Effect
From the 2011 predictions made back in January -
  • Europe detonates, especially in the east -
    • Eastern Europe sinks to crisis level with reports of food shortages, rioting and widespread Depression.
and further -
Western Europe contracts massively, putting extraordinary pressure on the Euro. But the call out of Belgium isn't about revoking the Euro, rather about the preservation of the European Union and the need to 'pull together'. I would expect that we could begin to see propaganda calling for a United Europe in the face of "x" (economic crisis, terror, war). Ultimately in the endgame, foreign creditors feel the massive pinch as they try to protect their investments, but the lack of a favorable response by the people will lead to war with the far east, but not yet.
Think Greece. On a larger scale.

What we are witnessing here is the global version of the 2008 blowout where "bad paper" eats away at the real wealth of the middle and especially lower class. Here's a question for you though - What has materially changed in the last three years? Anything? We have basically blown the bubble EVEN LARGER in an attempt to stop it. 

I love how I heard the problem explained on one forum. To paraphrase - Let's see, there's a confidence issue, caused mostly in part by excess spending due to misplaced confidence and the solution to the problem is more spending due to misplaced confidence?

Abso-lute-ly BRILLIANT. Only bureaucrats could come to that conclusion. Like I stated in my 2011 predictions, this is NOT the end of the road. When a criminal is backed against a wall like this, they tend to pull out their guns.

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