– “Moody’s has put France on credit watch for a downgrade”

“The U.S. ratings agency said late on Monday [Oct. 17] it may slap a negative outlook on France’s Aaa rating in the next three months if the costs for helping bail out banks and other euro zone members stretch its budget too much.”

“The warning, which sent the risk premium on French government bonds shooting up to a euro lifetime high, came as European Union leaders are preparing measures to protect the region’s financial system from a potential Greek debt default,” as reported by Tim Worstall, Contributor to FORBES.

Read more of the full story.

– “Global Economic Fate Hinges on European Finance Talks”
“The fate of the global economy, European unity — and the 401(k) savings of ordinary Americans — all hang in the balance as Europe’s leaders meet over the weekend to try to resolve a burgeoning debt crisis that threatens to spread globally.

The leaders are expected to decide at their European Union summit by next Wednesday whether and how to expand the controversial bailout fund they created earlier this year. They also must decide how to add extra cash to their faltering banks — in need of somewhere between $100 billion and $300 billion — in order to prevent collapses or runs by nervous depositors.

And they must decide whether Greece, the region’s basket case that sparked the crisis, gets more rescue support and how much.

That’s a pretty full plate. So full that leaders of France and Germany, the preeminent powers of the 27-member European Union, will continue meeting into next week rather than finishing their EU summit as planned on Sunday, ” quoting  Kevin G. Hall, McClatchy Newspapers |

Read more of the full story.

Ramtha described the effects of a French bank’s insolvency to the stock market last August

“When I tell you to get out of the stock market, I mean it absolutely. If you choose not to — because your altered ego and your pride says I don’t know but you do — you get to enjoy the ride down.

When I told you this market would be savage, it is not savage yet but it is about to be really savage when the French bank is insolvent. There is a great French bank that has lent heavily to Greece and to Ireland to fundamentally give support to the Euro. They are insolvent. They are bankrupt. So everyone who invested in that bank is about to be savagely destroyed. And there is no United States bank that can bail them out because from now on the American people will not bail out the risk endeavors of Wall Street.”

– Ramtha

Ramtha Afternoon, Yelm, WA

Wednesday, August 10, 2011