mathematically perfected economy™ (MPE™)    1  :   the singular integral solution of  1) inflation and deflation,  2) systemic manipulation of the cost or value of money or property, and  3) inherent, artificial multiplication of debt into terminal systemic failure;    2  :  every prospective debtor's right to issue legitimate promises to pay, free of extrinsic manipulation, adulteration, or exploitation of those promises, or the natural opportunity to make good on them;    3  :  our right to certify, to enforce, and to monetize industry and commerce by this one sustaining and truly economic process.

MORPHALLAXIS, January 14, 1979.

Mathematically Perfected Economy™ FORUMS, DISCUSSION

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 Post subject: £16.3 Trillion - a Second Bank Bailout in EU
PostPosted: 12 Feb 2009, 2:08 am 

Joined: 29 Jan 2008, 6:06 pm
Posts: 731
Bruno Waterfield in Brussels Last Updated: 3:50PM GMT 11 Feb 2009 wrote:
European bank bail-out could push EU into crisis!
A bail-out of the toxic assets held by European banks' could plunge the European Union into crisis, according to a confidential Brussels document.

“Estimates of total expected asset write-downs suggest that the budgetary costs – actual & contingent - of asset relief could be very large both in absolute terms & relative to GDP in member states,” the EC document, seen by The Daily Telegraph, cautioned. "It is essential that government support through asset relief should not be on a scale that raises concern about over-indebtedness or financing problems. ”The secret 17-page paper was discussed by finance ministers, including the Chancellor Alistair Darling on Tuesday.

National leaders & EU officials share fears that a second bank bail-out in Europe will raise government borrowing at a time when investors - particularly those who lend money to European governments - have growing doubts over the ability of countries such as Spain, Greece, Portugal, Ireland, Italy & Britain to pay it back.

The Commission figure is significant because of the role EU officials will play in devising rules to evaluate “toxic” bank assets later this month. New moves to bail out banks will be discussed at an emergency EU summit at the end of February. The EU is deeply worried at widening spreads on bonds sold by different European countries.

In line with the risk, and the weak performance of some EU economies compared to others, investors are demanding increasingly higher interest to lend to countries such as Italy instead of Germany. Ministers & officials fear that the process could lead to vicious spiral that threatens to tear both the euro & the EU apart.

“Such considerations are particularly important in the current context of widening budget deficits, rising public debt levels & challenges in sovereign bond issuance,” the EC paper warned.


Currency Converter Results
Wednesday, February 11, 2009 wrote:
16.3 British Pound(s) = 23.46 US Dollar(s)
1 USD = 0.6948 GBP
1 GBP = 1.43926 USD

MS Note:Look how bankers could confuse themselves & others in the process.
In the UK: "Billion" has meant 109 in most sectors of official published writing for many years now. The UK government, BBC, & most other broadcast or published mass media, have used the short scale exclusively in all contexts since the mid 1970s.[3][4][5] Use of billion in British English can be ambiguous.

Before the widespread use of "billion" for 109, UK usage generally referred to thousand million rather than milliard[18][19]. The long scale term "milliard", for 109, is obsolete in British English (though its derivation "yard" is still used as slang in the London money, foreign exchange and bond markets).

In the US of A, the short scale has been taught in school since the early 19th century. It is therefore used exclusively.

Trillion may mean:
Either of the two numbers (see long & short scales for more detail):

1,000,000,000,000 (one million million; 1012; SI prefix: tera-) - for all short scale countries - increasingly common meaning in English language usage

1,000,000,000,000,000,000 (one million million million; 1018; SI prefix: exa-) - for all long scale countries - increasingly rare meaning in English language usage but frequent in many other languages.
Source of the full text:

Bruno Waterfield in Brussels at Feb 9, 2009 at 16:15:34 wrote:

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While 12,000 homes a day continue to go into foreclosure, mathematically perfected economy™ would re-finance a $100,000 home with a hundred-year lifespan at the overall rate of $1,000 per year or $83.33 per month. Without costing us anything, we would immediately become as much as 12 times as liquid on present revenue. Transitioning to MPE™ would apply all payments already made against existent debt toward principal. Many of us would be debt free. There would be no housing crisis, no credit crisis. Unlimited funding would immediately be available to sustain all the industry we are capable of.

There is no other solution. Regulation can only temper an inherently terminal process.

If you are not promoting mathematically perfected economy™, then you condemn us to monetary failure.

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