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Lloyd’s of London ABANDONS European banks!

Without warning, Lloyd’s — the world’s oldest insurance market —announced that it has withdrawn its money from European banks.

The reason? According to Lloyd’s, the banks are in danger of failing as Europe’s debt crisis continues to intensify.

The company’s Finance Director, Luke Savage, put it simply:

“If you’re worried the government itself might be at risk, then you’re certainly worried the banks could be taken down with them.”

Which European governments is Lloyd’s talking about? They’re not saying. 

But it IS interesting to note that Lloyd’s didn’t just withdraw its money from Greek banks; it withdrew its money from banks all over Europe!

One thing you can be sure of, though:

When the world’s oldest insurance company ...

A firm that for 323 years has made its living by accurately calculating the odds of future disasters ...

When that company suddenly takes its money and runs, it’s a MASSIVE red flag for investors — a clear sign that the beginning of the end is near!


Lloyd’s has every reason to worry. In addition to the government debt crisis that’s threatening to destroy European banks, a huge credit crisis is spreading across the Continent as well.

Spanish and Italian banks are rejecting massive numbers of loans and charging customers more as the sovereign debt crisis continues to drive their own borrowing cost higher.

Any way you look at it, this shrinking of European credit markets is the worst kind of downward spiral:

  • The government debt crisis is making it harder and more expensive for banks to borrow money; the banks are passing those higher costs along to borrowers.

  • Corporations have to pay more to borrow; their cost of doing business is rising.

  • Consumers can’t or won’t borrow at higher rates, so corporate earnings plunge.

  • As corporate earnings evaporate, the taxes they pay also plummet.

  • Falling tax revenues cause the government’s deficits to explode higher, driving the banks’ cost of borrowing even higher.

And so, the death spiral continues ...

If you think Europe’s woes aren’t going to spill over onto our shores — THINK AGAIN!

In fact, we believe that the U.S. is about to get slammed harder than it did by the financial crisis of 2008.

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Comment by AZRanger on November 3, 2011 at 4:06pm

I am also a firm believer in the power of Pb, as well!

AZRanger

Comment by Jarhead on November 3, 2011 at 3:39pm
I'm Ready! Been Ready!  I've seen this coming 20 years ago, that's how ready this Marine is!
Comment by John on November 3, 2011 at 3:34pm

Invest in food and ammo with all you can afford, and get ready to live a life from hell for awhile.

Comment by Metalchemist on November 3, 2011 at 3:24pm

Crash ahead !!!!!!!

Buy Gold, Silver & as much jacketed lead as you can afford.

 

Seeing as I can't really afford Gold (Au) and it's too late by now, I've stocked up on the (Pb) instead.

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Ten Commandments of Human Relations

The fundamental issue in human ethical behavior is summarized by Jesus in what we have come to call "The Golden Rule." Jesus put it this way:

So in everything, do to others what you would have them do to you, for this sums up the Law and the Prophets (Matthew 7:12 TNIV).

It asks us to test our treatment of others by putting ourselves in their place. Treat others the way you would want them to treat you in the same or similar circumstance.

Somebody took that principle and translated it into Ten Commandments of Human Relations. You may have seen this anonymous piece, for it circulates in a variety of settings. In case you have missed it, I am reproducing it here.

Speak to people. There is nothing as nice as a cheerful word of greeting.

Smile at people. It takes 72 muscles to frown, only 14 to smile.

Call people by name. It is music to anyone’s ears to hear the sound of his or her name.

Be friendly and helpful.

Be cordial. Speak and act as if everything you do is genuinely a pleasure. If it isn’t, learn to make it so.

Be genuinely interested in people. You can like almost anyone, if you try.

Be generous with praise, cautious with criticism.

Be considerate of the feelings of others. There are usually three sides to a controversy — yours, the other fellow’s, and the correct one.

Be alert to serve. What counts most in life is what you do for others.

Live with a good sense of humor, a generous dose of patience, and a dash of humility appropriate to being human.

Made in God’s image, all of us have something to be valued!

The great challenge in human experience is not work skills, but people skills. That is, research has shown that the majority of people who fail in their vocation do so because they cannot get along with people.

You might think through the meaning of these ten common-sense ideas for your own workplace and personal activity. But what about the larger setting for your daily life? These principles work everywhere you go, for they are about showing respect to the people you meet in all those places.

Made in God’s image, all of us have something to be valued, affirmed, and acknowledged by others. But let it begin with us to acknowledge it in them. As the cycle of giving and receiving enlarges, the human community comes alive.

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