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All you need to know in two easy words.
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"The horror, the horror". That's priceless!
Do you want to lend, or do you want to surf?
Charlie don't lend.
Do you smell that...! Do you smell that...! I love the smell of burning Gyros in the morning... smells like... Victory.
[If you can't play by the rules, you are kicked out of the Club... keep in mind that only one lieutenant has to be shot... everyone else will fall in order rather hastily]
The following was sourced from Stratfor www.stratfor.com
The Greek economic imbroglio that has engulfed the European Union in its most serious economic and political crisis ever is building to a climax, with the likely conclusion on May 10 when the eurozone leaders meet in Brussels. Below is a timeline of significant events.
Yep, protests in Athens ... Germans pay. They really should grow a new pair and go gothic on them.
I love the smell of CDS burning in the morning... It smells like nothing else.
This is the end... my only friend...
Photo Journalist: This is the way the fucking world ends! Look at this fucking shit we're in, man! Not with a bang, but with a whimper. And with a whimper, I'm fucking splitting, Jack.
“There is no bailout problem. In the euro area, default does not exist.”
(Joaquin Almunia, 2010)
"Faltering forces of infidels cannot just enter a country of 26 million people and lay besiege to them! They are the ones who will find themselves under siege ... God will roast their stomachs in hell at the hands of Iraqis ... We have them surrounded in their tanks ... There are no American infidels in Baghdad. Never! ... Their infidels are committing suicide by the hundreds on the gates of Baghdad. Be assured, Baghdad is safe, protected."
(Iraqi Minister of Information "Baghdad Bob", 2003)
I love how major news magazines use words like "out of control". Nothing could be further from the truth. The entire purpose of the public stage of this debacle is maximum debt saturation. The IMF is achieving this objective with admirable results.
I don't see anything out of control; rather, I see a plan unfolding in all its beautiful glory. Really, at some point we must give credit where credit is due. We are being masterfully played. Bravo!
I agree. They have engineered the end-game with astonishing precision.
The only snit I have is if you take two people of comparable IQ, and one is purposely directed towards a 'useful' professional career (one entailing horribly boring, complex subject matter complete with multi-day licensing tests, only to graduate to a life of 16 hr work days), while the other is pulled aside and told how the world really works, it's not really cricket, now is it?
Well, better late than never. I'm pretty competitive, which is why I don't get all wobbly bemoaning what has become of us. I just want to get a chance to play & win during the next round.
You must be a CPA. In my next life I'm going to be a housewife, or house cat. Haven't decided yet.
I'm coming back as a fucking Chihuahua! Can't beat a view from the purse!
Could come back as a little girl Chihuahua tho =/
"I was going to the worst place in the world and I didn't even know it yet."
- Where's my JUNK?!?!
B9K9 I see it your way as well. All motivation to do honest work is gone from me. Today i go to a work site to "help" a friend finish his garage. What actual cash i may receive from this is worth didly. Besides that it just "feels stupid" to work for dollars when other folks make millions in minutes from a call. Until recently i had a strong german work ethic. Now it just makes no sense to work at all. Add the millions of unemployed getting free money for to years really yanked the rug out from under fair work ,fair pay
WTF does IQ measure????
If you can't see how the world really works IQ will not help you.
Pattern recognition is very underestimated...
Well, if say 5% of the population is smart enough to understand how important being smart is, well, that's leaves 95% of the population telling themselves that everyone is created equal.
The ratio of suckers to nonsuckers is a constant. You could also call it the wolf-to-sheep ratio.
The game changes, but the suckers stay the same.
Exactly. But how do you get out of the system in the first place in order to gain enough perspective? What happens if you go to a leading HS where practically everyone goes to either Ivy/UC, your/their parents are Ivy/UC grads, and YOU are expected & guided to follow in the exact same steps?
Not only do you not get any chance to see how the world works, you're purposely directed away from any useful inquiry. Hence, the types of heart-felt essays of self-exploration written by CogDis who expresses what millions are now also experiencing.
In some regards, I at least was trained in fundamentals so that my transition was fairly quick & painless. But what about scientists, doctors and humanitarians who were also sold the same con job, yet have -0- background knowledge in how to process this type of information?
At some point, you come to realize just what a masterful performance the entire game was played. Control education, control media and control (fiat) money and have a field day directing & watching the lemmings run around in circles trying desperately to "get ahead". Problem is, is it really that much fun after the thrill is gone? Is that why Lloyd looks the way he does?
Or some nice blue mushrooms. Either way go camping and watch the trees and rocks watching you back. They don't care what the market is doing.
That's why I say we all focus our time on educating the homeless and bums on how to extract revenge on the powers that be in the banking and government sector. You figure there are thousands of them with nothing to lose and enough people pissed off in the middle and upper middle class who are educated and ready to lead a willing ahem "population." Not that I'm advocating anything, I'm just saying...
Did someone not leverage themselves properly against a possible low IQ score? Need to hit the gym again?
Ouch! Note to self, don't screw with thesapein.
"Leverage themselves properly against a possible low IQ score"
That might be a good one
Not sure if it was intentional or not, but that was really fucking funny!
It would be nice to have been told it early on, instead having to 'figure' it out through trial and error.
Careful, in trial and error (especially the error part) will reveal to you in much more real terms how-the-world works (in a bottom-up, scientific way) than taking someone else's (top-down) opinion. Find the diamond in the error, just do it as fast and as early as possible in life.
The only possibility of this being engineered is after the dust has settled, Greenspan comes forward and admits to having intentionally turned the debt fire hose on, knowing full well the bankers wouldn't be able to contain their avarice in their dream to become feudal lords of the Earth.
As things stand, they killed the goose the laid the golden eggs, it's just going to take about 18 months for the goose to die (it's a really big goose, after all).
This will result in the repudiation of modern monetary systems, Keynesianism, and a return to PMs or PMs/commodities as currency.
With any luck there will be a big purge of non-productive government (bureaucrats, military and various forms of welfare, both corporate and private), and a de-centralizing of power (return of control to state and local governments).
But the banks are pooched. The top management will be lucky if they don't do hard time.
in the end, we don't need banks. They are a convenience, like cable TV or the Internet. If they survive at all, it will be in their traditional local lending/VC services (think George Will in It's a Wonderful Life".
Once this is over, the pent up entrepreneurial urges (unfettered by the shackles of corrupt bankers and feckless politicians) will gusher forth resulting in an age of growth and prosperity few will have anticipated.
Just make sure you have a good helmet and life vest on so you can make it to the other side of the terribly fast-moving river we all need to cross.
Move to a wider angle lens my friend. 17mm or wider I think.
What they mean is "Out of (your and my) control".
This is a masterpiece indeed!! Their agenda is clear, but is it clear to us? For me I don't understand it, is it to owe everything? or just to control everything?! beats me!!
Tell me how I can make money off of "maximum debt saturation".
Buy gold, buy silver. The debt will be monetized.
Oh.. looky here... the Economist has gone done something clever. :)
If real, this is actually pretty funny.
The Horror! The Horror!
Merkel = PBR Streetgang
Ben = Almighty
Europe, or maybe the whole world = Kurtz's compound
Willardolys: Are you crazy, Goddammit? Don't you think its a little risky for just some EMU?
Kilgoraia: If I say its safe to swap interest rates with these Goldman bitches, Captain, then its safe to swap interest rates with these bitches!
You'd think they could at least have decked Angela out in Flecktarn.
This is the endBeautiful friendThis is the endMy only friend, the endOf our elaborate plans, the endOf everything that stands, the endNo safety or surprise, the endI'll never look into your eyes...again
no one gets outta this shit house alive!
Cancel my subscription to the resurrection!
Strange days have found us Strange days have tracked us down They're going to destroy Our casual joys We shall go on playing Or find a new town
Strange eyes fill strange rooms Voices will signal their tired end The hostess is grinning Her guests sleep from sinning Hear me talk of sin And you know this is it
Strange days have found us And through their strange hours We linger alone Bodies confused Memories misused As we run from the day To a strange night of stone
arm drip.. sleep the hurt away
"I love the smell of olive oil in the morning"!
That is really funny! My compliments
Lt. Col. Kilgore played by Helicopter Ben
'you either surf or you fight..' [reflate or die..]
'i love the smell of naplam.. smells like victory..' [i love a bubble, looks like economic growth]
so who's Willard. Barofsky?
[terminate with extreme prejudice?]
The EU players are all the tribal hubbub surrounding Kurtz.
Cramer as the Dennis Hopper character? Like man, this guy knows everything, he is just so far out there man. buy buy, you dig..
Bush as Coppola, Obama as Geo Lucas.
Maybe the surfboard represents Ben's printing press.
haven't figured out Lance, Geithner probably. Good analogy, the surf boards had the logo of their Army unit.
A hyped-up nutbag twitching around the periphery of the action; just trade the camera shutter button for those big, pound-on-em buttons.
only a film nerd would remember, the making of the film was a disaster, a hurricane wiped out the set, Martin Sheen had a heart attack, Coppola was on the edge of a breakdown, he called in Lucas to help. Mr Starwars crafted that scene at the river, where Willard goes ashore looking for their commanding officer.
"A hyped-up nutbag twitching around the periphery of the action;"
+1000 Oh, man. That is a priceless visual. I'm going to savor that. Boo-yah! indeed.
I tend to visualize Cramer more as a coked-up baboon myself. Although I imagine Cramer's ass is probaby even more enlarged and reddened than the average baboon's, after taking it from Blankfein all those years at GS. To be fair, that certainly has not diminished his diehard loyalty to his former employer and Prince of Darkness one iota.
"Some day this war's gonna end!"
And then what will we all whine about?
redrawing the map
Great Higgly Piggly, even the Economist is waking up.
"Sir, time to kiss your royal arse goodby."
Can't wait till Chindit sees this. Stiff upper lip old chaps.
"All you need to know in two easy words": De-fault.
It's not just a region in California anymore!
I love the smell of napalm in the morning
Remember the old anti-drug slogan "Just say no"?
Perhaps Deutschland needs a new EU debt shenanigans slogan "Sagen jetz NEIN".
Dimitri don't surf !
Dimitri do surf. Dimitri don't work.
Your comment helps bring up an old trivia memory from the Marianas trench-like depths of my mind. In the early 1960's the director of the Gidget movies, who was of Greek descent, went to the Aegean to find some places to shoot his series. The only decent waves he found were in the ouzo bottles of his host. Quirks of history ! The interconnectedness of all things amazes me. I have just finished my third bottle of Retsina in sympathy with my Greek friends tonight and am feeling a little philozophikal...
Most excellent! I just peed in my pants.
45 billion IMF dollars to bail out Greece, Iraq got a trillion, and for what. I say pay them off, and give every American taxpayer a free two week vacation in the Greek Isles.
Goodnight Saigon - April 30, 1975
Goodnight Wall Street Scum - April 30, 2010.
"You're an errand boy, sent by grocery clerks, to collect a bill."
"You speak Burmese?"
"No, that was just gibberish."
Fuck the revolution bring on the Acropolis hehe brilliant, there are rumors here in germany that there´s a bankrun going on in Greece right now .. i have no confirmation yet though.
The Greeks in Melbourne, Australia are extremely subdued at the moment. It is very painful to watch what is happening in the old country for them. They will not however reach into their pockets to donate to the "Please Bail-Out Greece" website set up by the Ministry of Finance. Nana Mouskouri has given up her pension but not too many ex-pats are willing to follow her lead. Most people are more worried about the family property holdings in the country. They have close to zero trust in the politicians. (For all those that didn't know Old Melbourne Town has the third largest Greek population of any city in the world outside of Athens and Thessalonika. Most if not all are very grateful to be living in the Great Southern Land. They would not swap their Aussie passports for a million drachmas. If Greece was physically attacked by Turkey for example many would go back and fight but this scenario will not arise. The Turks are not that silly.)
That's when you call in the air strike.
great cover :D is that benny boy i see in the lead helicopter?
Don't look Economist, but GBP is next.
What's the Horror?
Typo on the cover.
"The horror, the whore."
LOL hey didn´t vote for her
Many years ago I was polled whether I like certain German politicians becoming Chancellor.
Politician 1: F
Politician 2: F-
Angela: Dann stelle ich 'nen Ausreiseantrag
I'll file to leave the country what implied that it was still GDR
You have to file to leave the country????
Is it true that in Germany all the trees are numbered and logged in a journal somewhere????
Today not, get your passport and leave.
In the former GDR (East Germany) before 1989 - to go to western countries - yes. Travelling inside the eastern bloc was possible.
"Is it true that in Germany all the trees are numbered and logged in a journal somewhere????"
But you do show your passport at Kontrolle on the way out, and they do scan it into their system, ostensibly to see if you are someone who should be allowed to leave.
Slander will get you nowhere...
...is simply not true! In a slander case you get to do DISCOVERY.
1) Mrs. Merkel, please list each and every person, male or female, you have ever gotten into bed with, either physically, politically, or monetarily.
At first I thought the cover was a parody (yes, I HAD to go the The Economist website to see for myself)....now I know just how surprised and angry the US citizen will be when reality SINKS in! LOLOL Very scary and I hang out here with you guys everyday. Today is a real turning point. Denninger pronounce that the spaceship US, has official run out of fuel. In cartoon physics, Wiley Coyote has started the long fall.... this will not end well.
The only way us Americans are going to be "surprised and angry" is if something interrupts our fast food and American Idol. The few who do try to effect change receive little more than a condescending pat on the head from our congress-critters.
However unlikely, unless we Americans take to the streets en mass--firey faggots and pitchforks included--the fall will continue, and poor Wiley's parachute will turn out to be an Acme anvil.
err, is that a typo there? Shouldn't that be American Idle?
Good "crunchy" journalism. i.e. It has substance. The time for beating around the media bush is over. Let everyone face up to the true state of things and let's all deal with it. Truth stings but it is worth the bite !
"It doesn't matter what you think. We will all the know the truth and what is correct in the end !"
The "end" is nigh...
All the easy one-liners have been used up, and I haven't watched the movie in too long a time to remember anything else.
Oh well, GOLD BITCHES!!
I am Chumbawamba.
I read the magazine on the way back from Milan today. Clever cover.
But, it looks like even the various Italians I talked with are spooked re too much debt. And yet most (at least the younger ones) do not know SQUAT about gold or debt or preserving wealth. The young are stingy though, as they have no money.
After tomorrow (Monday I guess, as a friend has his daughter's wedding I must go to), I will start spending the current US$100s for more gold and ammo.
Any S. FL. guys want to come shootingt next week? 2 so far...
Wish I could join the shootout. Love your posts. Wish I could have joined you in Bella Italia.
Good luck (with the coming mess) if I didn't say it already.
"The offing was barred by a black bank of clouds, and the tranquil waterway leading to the uttermost ends of the earth flowed sombre under an overcast sky -- seemed to lead into the heart of an immense darkness".
Way up in the sky Over the city, over Tokyo Silver light, summer moon You’ll be over somebody’s winter this afternoon...
Not to worry. It's an old world, 'round here. Apocalyptic visions are a dime a dozen.
Especially when someone else is paying the piper.
That's it, im in.
BBVA & STD Puts, SKF & SDS Calls.
I just saw an article which declared the "crisis over in Europe". Now even I find that pretty ridiculous. However, it seems to be enough to sway the market from plunging today.
FWIW: I sold every share of AAPL I had this morning at 269. Noticed some odd accounting in the 10-Q that no one seems to be talking about and I think negative PR is going to smack them. Started into a short position at upper 268's.
We must kill them. We must incinerate them. Piigs after piigs... cow after cow... village after village... army after army.
Bomb them to rubble, then bomb the rubble and if that does not work Nuke them till they glow.
the economist like every body else these days, has Daily show writers doing its headlines now. this is from our site: good step by step photo shoot of the gulf fire. At the Scene of the Rig Disaster http://ht.ly/1FaPB
Holy shit! Did you see the cover of The Economist?
"Indian cricket stumped"
That's it...we're all fucked!
Indians love cricket more than Catholics love the Pope. You couldn't slide a slippery razor blade between an Indian bookie's hip pocket and his little black book of player's phone numbers. We can't have the gladiators being pilloried can we ! What will become of the world ! Quelle horreur ! (Queue in...French subtitles of Apocalypse Now)
"Indians love cricket more than Catholics love the Pope"
How hard is that? The faithful are turning away from the corrupt child rapist regime in record numbers.
Start taxing all their lands and property and put them out of business.
Would have been better if those helicopters pictured were Huey gunships. They look more like OH-58 Kiowas.
Kind of spoiled it for those of us who know the difference.
OT kinda - but looks like the French side of the Louisiana Purchase is coming out to be the long term winner...
If only we would have let them keep New Orleans it would have been the perfect purchase for us.
We got some of the best farmland in the world out of that purchase so that we can keep the bread lines moving along. At least our country can still grow with the best of them.
Seems like we should just return to the old Roman empire domestic policy and just cut out the middle-men. Think of all those jobs we could create in QE 2.0 building new coliseums.
true - but losing all the fish in the gulf and the endless aid that disaster black hole will be sucking is tipping the scales a bit
now new drilling is on hold which is probably for the best since the world is more and more incompetent these days... did ya see that NASA balloon epic failure the other day?
Best historical trade ever...Pulau Run for New Amsterdam by the British. The Dutch lost big time. I wish I had taken out a put option on "Spice Island Futures" in 1647. (I am actually a vampire and have lived for æons. I am used to staying up late and flying around to various sites to take a bite. Zero Hedge appealed to me for its nihilistic, gothic title. I wish my money management had been better though. Always picking the wrong side...Napoleon at Waterloo. The Mayans versus Cortes. The South Vietnamese versus the North. The Y2K virus. Neanderthals versus the Cro Magnons. HAL versus the Astronaut. My rich vampire mates won’t have anything to do with me.)
wow - you are a very honest vampire - no rigged bets at all.. i think we must rename part of the squid's moniker
perhaps werewolves play dirty?
The V shape recovery is hear... Obama is introducing in national TV 5 (FIVE !) workers that got recently employed !
Just the facts ma’am:
The case of the Securities and Exchange Commission v. Goldman Sachs & Co. et al (Southern New York District, 10-3229 [Manhattan]), has been assigned to Judge Barbara S. Jones. – Zero Hedge
Here come da judge. But, does here come the justice? Or the truth, for that matter, as relayed by The Economist?
Follow the dots of this hands-across-the-sea operation: Who is Judge Jones? Who is The Economist?
Judge (of Goldman) Jones “is close friends with Estee Lauder general counsel Sara Moss.”
Serving these many years on the Board of Directors of Estée Lauder Companies and The Economist Group is shareholder Lynn Forester, Lady de Rothschild.
Lynn Forester, Lady de Rothschild “is the chief executive officer of E.L. Rothschild, a holding company she owns with her third husband, Sir Evelyn Robert de Rothschild, a member of the Rothschild family. The company manages investments in the British business magazine The Economist and various enterprises in India…” –Wikipedia
And, now, follow the money:
Acropolis for whom, I ask—the American taxpayer and his hardearned “wealth” funneled to the IMF and its socialist agenda? Perhaps it would be more fitting to replace “the horror, the horror” photo of Angela Merkel with Lady de Rothschild, or better yet, with IMF boss Dominque Strauss-Kahn of France’s Socialist Party. Or, better yet, the buck-stops-here guys who planned the heist, Goldman and Morgan (Rothschild/Rockefeller).
It's all incest now. Psychopaths don't want to marry anybody 'cept for other psychos - scum floating to the top.
The incest in the oligarchical families is one of the main facts that gives me hope. We are fighting eugenicists that followed a flawed "science". Stupid is as stupid does. For anyone not in the know, check out the Rotheschildes' family tree. They married cousins for centuries. The last time it happened, to my knowledge, was only a few decades ago. I guess they had not gotten the memo?
Karma is a bitch!
The banjo kid in Deliverance is a Rockefeller.
"who's the commanding officer here?"
never get outa the boat. never get out of the fucking boat!
There is a Euro Teotwawki documentary being shown on the Comedy Channel, of all places, right now....prety sure "A. Jones" said mi-5, mi-6, and 007 use it as a training film.....
The take home message is get long Louisville sluggers asap..... CB
I wasn't even in their fuckin' monetary union any more.
Kurtz: What do you call assassins who accuse assassins?
Water Buffaloes definitely don't surf...
DROP THE BOMB
Finally something the TV watching masses may sort of understand. The line (Acropolis Now) is a thing of marketing beauty - I'm going to frame it. I don't want to sound at all negative but it's been four days since I took every last chip off the table - I'm much more relaxed as I sit looking over the water with a cheap Italian red in my hand.
I'm actually getting that feeling that the casino may close for renovation.
Magazines covers like this trashy rag and others like Biz Week are good contrarion indicators to go long on either Euro and perhaps dare I say without inciting a riot on here, Euro bonds (see PFBDX, DIBCX).
Only William Banzai does better photo-shopping. (Check out his latest.)
There can be only one !
I love the smell of Drachmas in the morning. Smells like victory. Someday this wars gonna end.
But really how does the Greece crisis end short term? Do the social dems in Germany cave? Or do they get the banks to help share the cost of the bail out? I think the banks are going to be held more accountable going forward because of the next 4 or 5 crisis' coming down the pike.
Question: If the banks are forced to share the burden, then does this mean they would have to take a haircut and write down some of the debt? Why is this a market destabilizing step? Schaeuble doesn't even entertain the possibility of the banks being involved which I find ridiculous. Why is this not even considered by the IMF?
The Greeks will take the bail-out cash but if austerity measures are not introduced and they do not choose to live within their means then default will follow. The Greek leaders are stuck between a cropalis and a hard place. They are playing a good game though. They will take the money, strengthen their defences and do everything to try and defeat those they perceive as the enemy. Greece will not be the centre of global gravitas. This fact will frustrate them no end. The global economy does not need a liquid Greece to function however. If other smaller Euro states go down the same path we will still be left with the powerhouse that is the USA. The major European nations like Germany, France, Switzerland, The Netherlands, Norway, the UK et.al. can prosper with certain measures introduced. Citizens of the strong European nations will not tolerate continued subsidising of certain populations if they are not pulling their weight.
Poor Louisiana, the govment is bent on ruining the place. The Marshes are a valuable watershed and breeding area soon to be ruined.
Slightly off topic but Greece is getting Old..lol imagine living in that archaic system with crumbling ruins all around.
Apr 30, 20101:00 PM
Posted by Tiernan Ray
Shares of BP (BP) have recovered a bit from early losses, though still down 29 cents, or half a percent, at $52.27, after a couple analysts rushed to the stock’s defense, saying the sell-off on the massive oil spill in the Gulf of Mexico was excessive.
The stock is down 13.4% since the explosion of the Deepwater Horizon drilling rig run by Transocean (RIG) for BP on April 20. That’s a loss of about $25 billion dollars in market capitalization.
Citigroup analyst Mark Fletcher reiterated a “Buy” rating and a price target of 730 pence on BP’s ordinary shares traded in London. The ordinary shares dropped 1.5% to 575.50 today.
The drop “seems disproportionate to the likely costs to the company, even assuming damages can be claimed,” writes Fletcher. “As an analogy, punitive damages against Exxon [Mobil (XOM)] for the 199 Valdez spillage were originally set at $5 billion in 1994 but were reduced on appeal with Exxon agreeing to pay less than $1 billion (including interest) in 2009.”
The helicopters flying in set to Ride of the Valkyries does not have the same dramatic impact when they are dropping money not firing rockets.
Speaking of which, where is Leslie Nielsen giving the "nothing to see here" speech as billions of US dollars via the IMF are dropped all over the Greece fire?
I watched a snail crawl along the edge of a straight razor. That's my dream; that's my nightmare. Crawling, slithering, along the edge of a straight razor... and surviving.
We must kill them. We must incinerate them. Pig after pig... cow after cow... village after village... army after army...
So few know their history to understand the irony.
A Greek bailout is really a big bank bailout by governments that stick the bill with their citizens and give the money to the big banks to cover loan losses. The bankers lived high on the hog and encouraged abnormal asset price increases and provided large loans so that they could collect higher interest rate income (principle X interest rate). Governments go along with it because it feeds more tax revenue since you are taxed on the inflation.
Well, the German people revolted (WWII) and called their currency confetti after they had massive inflation (Weimar). Bankers of a certain nationality were blamed and innocent individuals were persecuted.
The irony today is that international bankers (IMF, World Bank, BIS) with last names that are all of one nationality are pressuring Germany to potentially devalue their currency by providing massive loans to Greece, and the other PIIGS to bail out the pigs. It would be interesting to know the tools of leverage that the bankers use on government to convince them - they obviously control most of the media, so they can manaipulate public perception. Why would they bail out bankers when it is so unpopular unless they were threatened or coorced?
Could swine flu (pig) be a clever threat from the bankers against governments? Is HAARP being used against countries that don't play ball? It would appear that intelligence agencies and wealth capital are aligned. They will have world government, "whether by consent or by conquest." - their words not mine. Without a threat, why wouldn't a government just reorganize like Iceland and default?
I don't want to spoil the ending, but the entity with the biggest printing press and reserve currency wins in the end within the current international monetary system. All your asset prices are based upon the amount of liquidity and number of zeros B.B. decides to add to the money supply. Inflation and deflation are controlled, both the vertical and the horizontal are controlled.
"Almighty, Almighty (a/k/a Bernanke), this is Ouzo Street Gang. Radio check, over."
Acropolis Now, that is nice. Germany knows where this is leading and the majority of others are saying, "look we know this is a big blackhole and Greece won't do those austerity or pay us back, but we need to buy time to figure out how to save the Western banking system!". And that is the case, they need time to either save it or build a new one that will be able to take the place of the old one.
...and the sequal coming soon to the continent nearest you
Damn! Someone beat me to the link of the Doors. I play that regularly when I read anything related to the global economy. Opss, is there such a thing anymore?
Someday this ponzi's gonna end...
So I almost forgot, tomorrow is the big day. May 1st. Twopacalypse now.
Prayers for Dennis.
So they were interviewing a Portuguese guy on TV and asked him what he thought about Greece and the possibility that Portugal might follow suit, and his comment was along the lines of, "If we go bankrupt, then Germany will have to bail us out. They owe us, after all, since we gave them many guest workers over the years."
I thought ZH was joking, my surprise to find my copy in the mail. HAHA!
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