-----Original Message----- From: Sorcha Faal [mailto:sorchaf...@fastmail.fm] Sent: Wednesday, February 10, 2010 6:09 PM To: undisclosed-recipients: Subject: Debt to GDP Ration: Economic Armageddon Nears As Australian "Debt Bomb" Set To Explode
[Ed. Note: This report should be read from its website location at http://www.whatdoesitmean.com/index1335.htm as this email copy does not contain the links embedded in the original report.] February 10, 2010 Economic Armageddon Nears As Australian "Debt Bomb" Set To Explode By: Sorcha Faal, and as reported to her Western Subscribers A grim report prepared by the Deputy Prime-Minister of the Government of the Russian Federation, and current Finance Minister, Alexei Kudrin, for President Medvedev is warning today that the Global banking system is nearing an "Economic Armageddon" as the Australian governments "debt bomb" is "set to explode" and plunge our World into a depression "no one living has ever seen the likes of". Important to note about Australia's debt, this report says, is that even though its debt-to-GDP ratio of 13.9% is less than those of its Western counterparts (US: 97.5%, UK: 72.7%, Germany: 86.6%, France: 80.3%, Italy: 121.1%, and the shocking Japan ratio of 227.4%) [Note: Russia's debt-to-GDP ratio is 7.0%] it is now unable to continue propping up a Global financial system already teetering on brink of collapse. Debt-To-GDP Ratio: This measure gives an idea of the ability of a country to make future payments on its debt. If a country were unable to pay its debt, it would default, which could cause a panic in the domestic and international markets. The higher the debt-to-GDP ratio, the less likely the country will pay its debt back, and the higher its risk of default. To how grave this situation has become was evidenced this past week when the leaders of nearly all the World's central banks converged upon Australia for what this report says was to "write the final epitaph" for the current Global Banking System. Of this most extraordinary meeting we can further read as reported by Australia's Herald Sun News Service: "THE world's top central bankers began arriving in Australia for high-level talks as renewed fears about the strength of the global economic recovery gripped world share markets. Representatives from 24 central banks and monetary authorities, including the US Federal Reserve and European Central Bank, landed in Sydney to meet tomorrow at an undisclosed location. Organised by the Bank for International Settlements last year, the two-day talks are shrouded in secrecy with extensive security believed to have been invoked by law enforcement agencies. The event will be dominated by Asian delegations and is expected to include governors of the People's Bank of China, the Bank of Japan and the Reserve Bank of India." Important to note about this imminent Global banking collapse the World's Central Banks are frantically attempting to stave off is how insidiously the Australian government has followed the path of the United States in ending the protection of its own citizens by removing the guarantee it had put in place to protect their money when this economic crisis first hit. Even worse for the Australian peoples is their countries largest lender, Commonwealth Bank, likewise following their American counterparts and reporting record profits essentially made from the wholesale theft of their witless depositors. Though Australia's conservative opposition finance spokesman, Barnaby Joyce, had attempted to warn his fellow Australians of the collapse of their banking system, his warnings were quickly countered by Prime Minister Rudd, and as we can read as reported by the Reuters News Service: "Australia's government on Tuesday rejected election-year charges by the opposition that the country was close to default on national debt, charging its controversial finance spokesman with threatening its sovereign rating. "Investors around the world don't find these remarks amusing. They take them seriously," a furious Prime Minister Kevin Rudd told parliament. "It is the height of risk to Australia's global economic reputation." This report, however, states that not only is Australia's "economic reputation" "fully corrupted", so is the entire European Union's where its Member Nations of Greece, Portugal, Spain and Ireland are all warned are nearing default on their National debts too, and which with US banks having a reported $176 Billion exposure in their EU countries will accelerate the economic collapse of the United States. [Note: In an example of how chilling it has become in the United States to even mention these things it is now being reported that citizens there now face up to 10-years in jail for even thinking against going against their government "masters"] Interesting to note about all of these events is that the influential American newspaper Wall Street Journal is now warning its readers how to protect themselves from this "Global-Debt-Bomb Explosion", and as we can read: "Wake up investors. Are you prepared for the economic anarchy coming after a global-debt time bomb explodes? Are you thinking outside the box? Investing differently? Act now -- tomorrow will be too late. Start by looking past the endless cable skirmishes between Rush, Glenn, Bill and Shawn versus Harry, Nancy, Ben and Barack. Look way past the insurgency bonding Sarah and her diehard Tea Party revolutionaries with Ron Paul's Neo-Reaganite ideologues, Fat-Cat Bankers and the Party of No, all planning a massive frontal assault on the 2010 elections, hell-bent on destroying the presidency. All that's the sideshow. The Big One is coming soon, bigger than the 2000 dot-com crash and the 2008 subprime credit meltdown combined. A huge market blowout. And as Bloomberg-BusinessWeek predicts: "The results won't be pretty for investors or elected officials." Though it remains to be seen if the Australian or American peoples will awaken to the collapse of their banking systems and begin to protect themselves, the same cannot be said of over 50 CEO's and CFO's of major Global companies who have "unexpectedly" resigned over the past 3 weeks and, most assuredly, are preparing themselves and their families for this unprecedented financial storm and the havoc it will cause. C February 10, 2010 EU and US all rights reserved http://www.whatdoesitmean.com/index1335.htm -- Sorcha Faal sorchaf...@fastmail.fm *** exposing the hidden truth for further educational research only *** CAVEAT LECTOR *** In accordance with Title 17 U.S.C. Section 107, this material is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. NOTE: Some links may require cut and paste into your Internet Browser. Please check for daily real news posts and support the truth! 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