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Europe: A Continent Of Lies And Broken Promises; How The EU Elite Got It Wrong On The Euro

Tyler Durden's picture




 

Openeurope.org.uk has put together a paper of the most blatant half-truths, propaganda, and outright lies, abused by Europe not only over the past month, but also over the past 10 years, for the entire duration of the now rapidly collapsing eurozone experiment. As the paper notes: "More than ten years since the euro was launched, and with the single currency facing its greatest ever crisis, the parameters have radically changed. Amid all the uncertainty, one thing has become painfully clear: the EU elite simply got it wrong on the euro." The authors demand for "a call for greater honesty about the future of European cooperation and a reminder of the urgent need to find a new model that is both politically and economically sustainable" is just as valid in Europe as it is in the US: any system based on lies and opacity is doomed to failure. Europe found this out the hard way. We will too unless somehow we restore the basic truths like transparency, honesty and integrity, instead of merely campaign promises and teleprompter soundbites.

A sampling of the best quotes:

THE DOZEN WORST BROKEN PROMISES AND RECKLESS PREDICTIONS

“The Community shall not be liable for or assume the commitments of central governments, regional, local or other public authorities, other bodies governed by public law, or public undertakings of any Member State, without prejudice to mutual financial guarantees for the joint execution of a specific project”.
- Article 104b, Maastricht Treaty, 1992.

“We have a Treaty under which there is no possibility of paying to bailout states in difficulty”.
- German Chancellor, Angela Merkel, 1 March 20101.

“[Greek Prime Minister] Papandreou has said that he didn’t want one cent. The German government will not give one cent, anyway“.
- German Economy Minister, Rainer Brüderle, 5 March 2010.

“The single currency, far from being an agent of continental style corporatism, is probably the greatest export vehicle of Anglo-Saxon economics. The euro has done more to enforce budgetary discipline, to promote privatisation and force through labour and product market liberalisation in the rest of Europe than any number of exhortations from the IMF, the OECD, or the editors of The Economist”.
- Lib Dem leader, Nick Clegg, 2002.

“The reality of the euro has exposed the absurdity of many anti-European scares while increasing the public thirst for information. Public opinion is already changing […] as people can see the success of the new currency on the mainland and the alarming fall in inward investment into Britain as international companies show an increasing reluctance to locate here”.
- Kenneth Clarke MP, 2002.

“The euro has been a rock of stability, as illustrated by the contrasting fortunes of Iceland and Ireland. Joining the single currency would be a major step”.
- Former Labour MEP Richard Corbett, 2009.

“We must enter the euro with a clean sheet on all the criteria”.
- Then Greek Finance Minister, Yannis Papantoniou, 1999.

“The thrust of the spirit and of the letter of the Treaty is that everything is done to construct the euro area as an optimum currency area. First by ensuring that it incorporates economies that have already proved being convergent in the fiscal field as well as in the monetary and financial fields”.
- Then Governor of the Bank of France, Jean-Claude Trichet, 1997.

“It is sometimes said that while the single monetary policy may be ‘right’ for the euro area as a whole, it is ‘wrong’ for many individual countries within the area. I disagree with this view. First, it overlooks the fact that within a single currency area adjustment can occur via prices and wages”.
- Then President of the European Central Bank, Wim Duisenberg, 1999.

“Solidarity is possible, [and] will exist. A bailout is not possible and will not exist”.
- Then EU Commissioner for Economic and Monetary Affairs, Joaquín Almunia, 29 January 2010.

“I will defend European Central Bank’s independence under any circumstance and with all my strength”.
- ECB President, Jean-Claude Trichet, 2007.

“The euro is a protection shield against the crisis”.
- European Commission President, José Manuel Barroso, 5 February 2010.

 

“THE EURO WILL REMAIN STABLE AND EUROZONE COUNTRIES WILL BE PROTECTED FROM CRISES”

What they said then

“The euro is like a breastplate that will become more and more resistant. The stability of the currencies within its area is without question”.

- Then Commissioner for Monetary Affairs, Yves Thibault de Silguy, 1998.

“The decision to launch the single currency is the first step and marks the turning point for Europe, marks stability and growth and is crucial to high levels of growth and employment”.
- Then UK Prime Minister, Tony Blair, 199834.

“The euro is a protection shield against the crisis”.
- European Commission President, José Manuel Barroso, 5 February 2010.

“The people should note that the Euro will not only be just as stable as the D-Mark, but also a lot more capable”.
- Then German Economy Minister Hermann Müller, 1999.

“I am certain the success story of the Deutschmark will continue with the success of the euro”.
- Then German Chancellor Helmut Kohl, 1998.

“The euro area now represents a pole of stability for those countries participating in it by protecting them from speculation and financial turmoil. It is strengthening the internal market and contributing to the maintenance of healthy fundamental figures, fostering sustainable growth”.
- European Council conclusions, 2001.

“The Maastricht treaty obliges the European Central Bank to pursue price stability and the ECB is more likely to overfulfil its treaty target than to ignore it. As long as this is the case, there is not the slightest danger of a break-up of the Eurozone […] On the contrary, I expect the Eurozone to be exceptionally stable in the long run […] Make no mistake, the Eurozone is here to stay”.
- FT columnist Wolfgang Munchau, 200639.

“The euro area: How big will it be? My own prediction is that by the year 2002 the European monetary Union will include its current 11 members plus Greece (which is already committed to join), Sweden, Denmark, and Britain. By 2005, Slovenia, the Czech Republic, Poland, Hungary, and Estonia will also be in. And by 2010, assuming all goes well and the monetary union is prosperous, no country in Europe will want to, or be able to, afford to stay out. Thus, Slovakia, Croatia, Lithuania, Latvia, Romania, and Bulgaria will all join the monetary union”.
- Nobel Prize winning economist Robert Mundell, sometimes described as ‘the father of the Euro’, 1999.

What they say now

“Euroland, burned down. A continent on the way to bankruptcy”.
- Front page of Der Spiegel, 5 May 2010.

“We cannot allow the bankruptcy of a euro member State like Greece to turn into a second Lehman Brothers […] The consequences of a national bankruptcy would be incalculable. Greece is just as systemically important as a major bank”.
- German Finance Minister, Wolfgang Schäuble, 18 April 2010.

“Every one of us can see that the current euro crisis is the hardest challenge Europe has to meet since the Treaty of Rome was signed. It’s an existential challenge, and we must rise up to it”.
- German Chancellor, Angela Merkel, 19 May 2010.

“There is a grave threat of contagion effects for other member States in the monetary union and increasing negative feedback loop effects”.
- Bundesbank Chief, Axel Weber, 5 May 2010.

“Whichever scenario you choose, the euro is going to be weak. Even if the Eurozone were to allow more serious slippage in budgetary consolidation than I have suggested, that would probably not help the euro either, as markets would start to doubt the longevity of the currency union for political reasons”.
- FT columnist, Wolfgang Munchau, 7 March 2010.

“We should not knock this [bailout] deal from Athens. The Eurozone might not have survived otherwise [...] On my estimate, the total size of a liquidity backstop for Greece, Portugal, Spain, Ireland and possibly Italy could add up to somewhere between €500bn ($665bn, £435bn) and €1,000bn. All those countries are facing increases in interest rates at a time when they are either in recession or just limping out of one. The private sector in some of those countries is simply not viable at those higher rates”.

- FT columnist, Wolfgang Munchau, 2 May 2010.

Full paper from openeurope.org.uk:

 

 

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Fri, 05/28/2010 - 21:27 | 380495 slowcoder
slowcoder's picture

In dust we trust

Fri, 05/28/2010 - 23:16 | 380678 DeeDeeTwo
DeeDeeTwo's picture

How exactly is the above not business as usual, baby? And compared to much of the 20th century... EU today is a long, lazy day at the beach. Wake me up when the tanks go-go.

Sat, 05/29/2010 - 11:10 | 381016 Zina
Zina's picture

American citizen arrested in Mexico City for not carrying documents:

http://arizona.indymedia.org/news/2010/05/77031.php

Hmmm...

Fri, 05/28/2010 - 21:40 | 380502 Belrev
Belrev's picture

The Euro elite, as you call it, has been faithful servants of the House of the Rothschilds for hundreds of years now. They got nothing wrong. They are executing the plan of their masters to the letter.

If Hugh Hendrys and Tyler Durdens of the world are smart enough to understand what has been taking place economically for many years, the Rothchilds who have been doing this for centuries certainly know and understand it very well, and then some.

We don't need to hear another Mike Shedlock nonsense about "silly" economists and politicians. The silly does not exist in the land of the elites.

The main purpose of any government today is to pretend to fail. And when it "fails" the House pockets hundreds of billions if not trillions of dollars.

Fri, 05/28/2010 - 21:41 | 380514 ratava
ratava's picture

Rothschild my ass, are you an actual lunatic or a psyop trying to discredit ZH?

Fri, 05/28/2010 - 21:42 | 380518 Belrev
Belrev's picture

As Salvador Dali used to say, "let the idiots remain in their blissful idiocy".

Fri, 05/28/2010 - 21:53 | 380531 ratava
ratava's picture

Yeah, its one family organizing all this shit, not a whole class of bankers, politicians and college profs who are too tangled up in each others special interests to do the right things. Picking scapegoats is easy, trying to come up with ideas for reform of an antiquated and inefficient system is hard.

Fri, 05/28/2010 - 21:56 | 380536 Belrev
Belrev's picture

Oh, it is much safer to discuss how China controls USA, or to talk about Italian or Russian mafia. But got forbid to even mention those who've got the real power. Those you cannot criticize. That causes weak knees and forceful denial of truth, just to cover one's ass.

Fri, 05/28/2010 - 22:04 | 380548 ratava
ratava's picture

It takes evidence to convince me, i have been quite high up the rungs and I did not see no Rothschilds, just well educated fools trying to preserve the status quo by listening to the lobbyist 'experts'.

Fri, 05/28/2010 - 22:10 | 380565 Belrev
Belrev's picture

Based on the content of Tyler's blog I have had high expectations for the intelligence of posters here, and for their understanding of how things work. But I am being just shocked, plain shocked at how will fully ignorant they are. Just like on some CNN or NY TImes board, where all those citizens of supposedly free countries constantly beat about the bush by talking about "banksters", "special interests", "liberals", "neocons" etc, fearing to name things with their own name. Is this the state of freedom and free speech in the West? If so, what is everybody so afraid of so much? Or who?

Fri, 05/28/2010 - 22:24 | 380590 ratava
ratava's picture

i give up. i aint afraid of anything but occams razor. cockup before conspiracy unless there is evidence.

Fri, 05/28/2010 - 22:32 | 380598 Belrev
Belrev's picture

There is evidence. That is if you have a pair to even see it to the end.

 

Sat, 05/29/2010 - 00:26 | 380747 snowball777
snowball777's picture

Please tell sister-momma not to let you play with the computer anymore, Jethro.

Sat, 05/29/2010 - 00:55 | 380771 Apostate
Apostate's picture

Hahaha, David Duke again!

The Rothchilds are really not that big of a deal. Just another dumbassed inbred WASP family with a little money kicking around and an impressive history.

There are many, many, many clans similar to them. Ultimately, it's comforting to believe that one small tribe is in power. The reality is that it's a constant push-pull competition amongst various factions and individuals vying for power.

Anyway, everyone knows that this is all a plot by the lizard men. 

Sat, 05/29/2010 - 01:03 | 380777 Alienated Serf
Alienated Serf's picture

belrev and his ilk are content to take the bait of someone taking advantage of his low intelligence and lack of self esteem.  "it isn't your fault, it is THEIR fault."

scapegoating only works on the weak.

Sat, 05/29/2010 - 04:20 | 380874 jeff montanye
jeff montanye's picture

belrev seems sad, but the rothschilds are wasps?  and david duke is a painful racist but there is more than a grain of truth in calling the msm israeli-occupied (actually likudnik tool is more accurate).  not quite as much as it once was, but still quite puzzled why the u.s. keeps being the object of muslim hate and violence.  ps. didn't a rothschild-related bank get into real trouble recently re: the euro zone crisis?  guess they didn't read the world domination memo.

Sat, 05/29/2010 - 02:17 | 380816 Popo
Popo's picture

Please go back to the Yahoo! boards.  You'll be more comfortable there.

Sat, 05/29/2010 - 04:32 | 380876 Votewithabullet
Votewithabullet's picture

Popo 

   Reply   Flag as non-Junk (1)  

Fri, 05/28/2010 - 22:05 | 380551 Cheeky Bastard
Cheeky Bastard's picture

You, dear sir, are a fucking moron. not that you lack the company, but you really take the prize.

Sun, 05/30/2010 - 04:10 | 381965 velobabe
velobabe's picture

You, dear sir, are a fucking moron.

                                                 over used

Sat, 05/29/2010 - 01:00 | 380775 Alienated Serf
Alienated Serf's picture

belrev is an agent here to destroy ZH cred or a complete moron.  either way, he should probably kill himself.

Sat, 05/29/2010 - 01:34 | 380791 johan404
johan404's picture

Be quiet you imbessile! Belrev is a misunderstood genius. You dare mock him, do you?

He is right. The Rothschild family controls every aspect of our lives. They own the banks, and through them the governments of the world. They micromanage the tiniest details of our lives, so that their long-hold vision of world domination comes to fruition. Evelyn de Rothschild even closes my toilet lid when I forget to do it, so there. You see? CAN YOU SEE THE LIGHT?!

Sat, 05/29/2010 - 09:08 | 380942 badameli
badameli's picture

It's true - just 45 minutes ago - one of them showed up and told me to hold off on my bowel movement because it wasn't scheduled for another 15 minutes.

Fri, 05/28/2010 - 22:01 | 380541 Cheeky Bastard
Cheeky Bastard's picture

Just.Fucking.LOL..... Man.

 

Sat, 05/29/2010 - 07:38 | 380566 velobabe
velobabe's picture

dagger

Sat, 05/29/2010 - 07:36 | 380567 velobabe
velobabe's picture

oh no

    another double

 

                  .............busted.

Sun, 05/30/2010 - 03:35 | 381955 Problem Is
Problem Is's picture

I'm flaging you for lack of chest avatar... ; }

Sun, 05/30/2010 - 04:13 | 381966 velobabe
velobabe's picture

s u b m i s s  i o n

Fri, 05/28/2010 - 22:43 | 380613 tony bonn
tony bonn's picture

please do not waste time on the fucktards....you are absolutely correct to finger the rothschilds along with the rockefellers in a triumverate of evil with the british monarchy....the bush crime syndicate plays a very important role....it is not yet monolithic global fascism but critical mass has almost arrived....

the sociopathic frat boys have not finished their pyromania but icarus is on his last feathers.....

Sat, 05/29/2010 - 01:43 | 380798 StychoKiller
StychoKiller's picture

So, which group is secretly controlling the Vatican Bank?

Sat, 05/29/2010 - 07:08 | 380896 znork
znork's picture

A candidate would be P2 (Propaganda Due), which was involved through Banco Ambrosiano. But then again this was the 70's, 80's in which the cold war was of some importance. They even made a movie of the whole scandal:

http://www.imdb.com/title/tt0212797/

There is some evidence that Berlusconi was a member of the P2 group though.

So who knows how things are nowadays.

http://en.wikipedia.org/wiki/File:Ricevuta_di_pagamento_per_l%27iscrizio...

Sat, 05/29/2010 - 09:49 | 380916 MarketTruth
MarketTruth's picture

Who Owns The Federal Reserve?

Leading 'the pack' is: N.M. Rothschild, London - Bank of England

Then there is:
Warburg
J. Henry Schroder  Banking 
Brown, Shipley - Morgan Grenfell - Lazard & Company
Alex Brown - Brown Bros. - Lord Mantagu - Morgan et Cie -- Lazard

See a much more detailed list at

www.save-a-patriot.org/files/view/whofed.html

And yes, the Rothschild, Warburgs, etc also have their bloody hands in far more around the world.

Sat, 05/29/2010 - 00:13 | 380731 marc_hanes
marc_hanes's picture

Huh, I thought it was the Medicis up to all that no good...

Sat, 05/29/2010 - 11:26 | 381027 destiny
destiny's picture

despite what everyone thinks, i absolutely agree with this comment. i could nt strive more for people to find out on their own...it is a fact. many people know it in europe,

Sat, 05/29/2010 - 11:35 | 381033 Mesquite
Mesquite's picture

>Belrev

Ooh.. ya touched a hot button there...

Let the personal attacks begin...

Fri, 05/28/2010 - 21:35 | 380509 deadparrot
deadparrot's picture

All those countries are facing increases in interest rates at a time when they are either in recession or just limping out of one. The private sector in some of those countries is simply not viable at those higher rates”.

 

You know what they say about bankers... they'll lend you an umbrella when the sun is shining, but demand it back when it starts to rain. I'd have to pay 30% on my credit card if I ever had to carry a balance, and these deadbeats are complaining about paying 6%.

Fri, 05/28/2010 - 21:40 | 380513 ratava
ratava's picture

Liars, cowards, hypocrites. There was a window of opportunity to kick Greece and then bail it out. First the rules, then solidarity. I wrote to my euro parliament members in March and told them so. Not a single reply, they are too important to listen to normal people. Allowing Greeks to keep Euro means other countries also have skeletons in their closets and the politicians are afraid of making the rules enforceable. Euro is deader than a gulf of mexico whale.

Fri, 05/28/2010 - 21:47 | 380526 Belrev
Belrev's picture

The vassals of the lord do not listen to the peasants, my naive friend. Democracy is over, for many years now. Get your pitchforks ready. Bwa ha ha.

Fri, 05/28/2010 - 22:01 | 380542 Buck Johnson
Buck Johnson's picture

You hit it right on the head.  I've written about kicking Greece before out of the EU.  They lost their chance because as you said and it's correct, other countries have skeletons in their closet and they don't want to enforce those rules on themselves at any costs.  I see a a major major black swan imploding and it will force the countries to break apart the EU and the Euro so they won't have to pay the euro denominated debt.  What hasn't been talked about alot is the UK, they are in serious trouble and may need an IMF bailout in the near future.  There was a reason why Britain didn't join the euro currency, it's because it's impossible to inflate a countries debt away with a unified currency and that leaves the member countries stuck.

Fri, 05/28/2010 - 22:15 | 380576 ratava
ratava's picture

I agree UK is up for a beating, just look at all the banks they nationalized that got like 300% of their GDP in total 'assets'. However, they have always been sort of a connected vessels with US. If anyone knows of all the crazy illegal shit going on in the US banking, it is the Brits and that alone may buy them some time.

Fri, 05/28/2010 - 22:54 | 380638 Trichy
Trichy's picture

I think you are confused. It wont be greece being kicked out of the euro. It will be ze germanz marching out with their boots on.

Sat, 05/29/2010 - 02:14 | 380815 Chupacabra
Chupacabra's picture

Who could blame them?

Sat, 05/29/2010 - 04:42 | 380879 Votewithabullet
Votewithabullet's picture

Nichtes mich.

Fri, 05/28/2010 - 22:06 | 380554 Segestan
Segestan's picture

Alot of lies , alot of mistruths , and even a great biblical expectation in the EU but also and alot of good plans .No good deed ever goes without the proper punishment. Ability mixed with an often naive sense of altruism, europe  is a deadly mix.

You can please some of the people some of the time but not all the people all the time. Europes social elites, of whatever self pro claimed illumination, architects and just plain naive dreamers, be these religionist or socialist dreamers just didn't know when to stop to, when to  limit the project, and to help that lack of foresight play out,  the competition of politics, of religion ,  of usury in commerce, all lead down the road of ruin.

Sat, 05/29/2010 - 04:41 | 380878 Votewithabullet
Votewithabullet's picture

 Fucking que?

Fri, 05/28/2010 - 22:26 | 380592 brodix
brodix's picture

The problem is not the Rothschilds and Co. but their invention. The debt based currency. It does have one very effective property. Debt tends to grow roughly proportional to productivity and for a stable economy, the money supply has to grow in tandem with productivity. Throughout much of history there has not been enough information on the state of the economy to effectively determine how much money needs to be introduced, so not only has this method entailed a reasonably stable money supply, but requires ever expanding growth to pay down the debt and thus the overwhelming effectiveness of capitalism. The great flaw in the system are that it requires ever expanding growth to pay down the debt, even when such growth isn't sustainable. Since it also requires ever expanding debt to maintain a sufficient money supply, this death spiral is inevitable. 

Fri, 05/28/2010 - 22:35 | 380601 Belrev
Belrev's picture

Rest assured, that their agents are already working hard to infiltrate and lead any movement that may arise on the ruins of the soon to be collapsed economic and political order.

Fri, 05/28/2010 - 22:49 | 380629 brodix
brodix's picture

Top predators are often very susceptible to the collapse of their supporting ecosystem.

Fri, 05/28/2010 - 22:37 | 380608 ratava
ratava's picture

we found a crutch, the pseudo money created by leverage and derivatives. too bad their value eventually returns to zero and the pseudo money gets sucked back, creating a deflationary spiral.

Fri, 05/28/2010 - 22:54 | 380640 brodix
brodix's picture

More like an entertaining little drug that is consuming our lives, as we borrow enormous amounts of money into circulation in order to gamble it, all the while destroying productivity through parasitic rent seeking passing itself off as unregulated free markets.

Sat, 05/29/2010 - 04:49 | 380880 Votewithabullet
Votewithabullet's picture

Please forward this to the texas school board fucks so they can insert it into the middle school text books.

 

 

Sat, 05/29/2010 - 05:39 | 380886 brodix
brodix's picture

Why/ They don't approve of evolution or revolution. All the people who have learned to swim in these seas of liquidity are going to be sucking too much dry air and then toxic sludge as it dries up and Helicopter Ben tries to pour gasoline on the fires.

 

Sat, 05/29/2010 - 05:43 | 380887 Mentaliusanything
Mentaliusanything's picture

Vis a vis when growth stops or even (in hushed tones) reverses - TSHTF - and the debt must die or we do

Fri, 05/28/2010 - 23:08 | 380664 Reductio ad Absurdum
Reductio ad Absurdum's picture

"any system based on lies and opacity is doomed to failure"

So North Korea is about to fail any day now?

Unfortunately it's not that easy.

Sat, 05/29/2010 - 01:25 | 380786 Apostate
Apostate's picture

When Kim-Jong dies, it's quite possible, actually. Dictatorships are economically unstable.

The weirdest thing about many people who supposedly believe in at least a few of the principles of classical liberalism is that they are nervous about applying them to totalitarian cultures.

Totalitarianism fails, given time. Even the USSR liberalized and eventually collapsed after Stalin's death. 

Sat, 05/29/2010 - 01:40 | 380796 johan404
johan404's picture

Only reason NK is up and running is because China and the UN have been keeping it on life-support, and of course by keeping the population dumbed down and out of contact with the outside world.

Sat, 05/29/2010 - 21:16 | 381675 Frank Owen
Frank Owen's picture

"In the 1990s 2 million North Koreans died of starvation.... In the past, North Koreans who escaped to China or South Korea reported cannibalism during particularly difficult food shortages."

Not really sure where the line is, but North Korea can hardly be called a success.

Sat, 05/29/2010 - 00:01 | 380724 The Alarmist
The Alarmist's picture

"OK, so uncle Nick is an alcoholic, and we have to keep the sheep and children away from him, but he is family ... we can't turn him out."

That quote would sit well among the other official statements if one were to look at the EU as your typical dysfunctional family.

 

 

Sat, 05/29/2010 - 00:32 | 380750 SilverIsKing
SilverIsKing's picture

Going OT here but has anyone seen this?  It may be par for the course but I hadn't seen it reported.  $20 million for Palestinian refugees to come to the U.S.?

http://www.thefederalregister.com/d.p/2009-02-04-E9-2488

Sat, 05/29/2010 - 01:15 | 380785 williambanzai7
williambanzai7's picture

They took all the hocus plocus originated on Wall Street and inflated the Euro with Greenspan gas for 10 years. The Euro shot up without any of the structural changes everyone said were needed (except in Germany). Joe Bratwurst has every right to be outraged.

Sat, 05/29/2010 - 01:48 | 380802 Quantum Nucleonics
Quantum Nucleonics's picture

The fatal flaw of the Euro was always that the fiscal restraints in the treaty were not enforceable.  Member governments were not even subject to any sort of audit.  It was silly to think that a piece of paper (the treaty) would ever imbue Italians and Greeks with the fiscal discipline of Germans.

When the Euro officially bites the dust, it won't be the PIIGS that leave, it will be Germany that jumps overboard leaving the rest on the sinking ship to their fate - "Let the French sort it out" they'll say.

What happens to all that Euro denominated debt? What a nightmare that will be.

Sat, 05/29/2010 - 03:24 | 380860 tim73
tim73's picture

Like US or UK any better? Euro just might even survive because Yanks and Brits are all hat, not cattle.

Sat, 05/29/2010 - 14:27 | 381242 Sneeve
Sneeve's picture

thank you Tim. I read these comments (and the original post) and I get the impression ZH has been re-peopled with Anglo-US angries, who find kicking the eurozone so much better than trying to figure it all out.

Feh.

Sat, 05/29/2010 - 02:02 | 380809 StarvingLion
StarvingLion's picture

Its all good because Sprott says fear makes the yellow barometer happy. 

So lets all jump aboard the Fear Bus on the yellow paved road to riches!

Sat, 05/29/2010 - 02:44 | 380831 AnAnonymous
AnAnonymous's picture

There would be much more lies and broken promises to collect on the EU building. The European leaders are trying to emulate the developpment of the US  and it seems you can only lie your way onward in this scheme.

 

Sat, 05/29/2010 - 03:20 | 380857 tim73
tim73's picture

Ah, dot-uk site. Data in, crap out. Brits just hate to be outside, not to be leading.

Sat, 05/29/2010 - 03:43 | 380862 weelp
weelp's picture

I'll kick Angela Merkel in the nuts!

Sat, 05/29/2010 - 05:34 | 380885 bob resurrected
bob resurrected's picture

The article is a great reference tool and is a shining example of duplicity.

The comments stream...

 

Sat, 05/29/2010 - 05:51 | 380888 Au Member
Au Member's picture

I'm a bit disappointed that everyone launched into a mega rant against the guy bringing up the Rothschilds theory. I don't know if it's true or not but look at it this way, if anyone had mentioned HFT or other highly manipulative shit years ago you would have had the same reaction. Keep an open mind for fucks sake. Don't get sucked into any dogmatic viewpoint. I love this site and think the people behind it are exposing some serious shit that the MSM won't touch and it's a vital resource. But from what I've just seen, this place can easily slip into group think and that will lower the intellectual debate significantly.
Keep an open mind.

Sat, 05/29/2010 - 06:30 | 380893 bob resurrected
bob resurrected's picture

I am sure factual documentation or creativity, as is readily supplied here by Tyler et al, on any theory would be welcomed. Even a challenging new question or new assertion is normally respected. With that said, one should always be willing to defend his/her position. There is no crying in baseball.

Sat, 05/29/2010 - 09:16 | 380948 Belrev
Belrev's picture

You don't know who these khazarian defenders really are. They may as well be IDF members scouring the internet for content and counterarguing anything that touches their tribe. It has already been in the news a few years ago. These are the same people that call Tea Party racist. Just think: why would anybody be so adamantly defending the Rothchilds' family when their are publicly known historical facts of there control of European governments over centuries?

And they way the argue against what I said is not by presenting facts, but by name calling and personal attacks. That says something, does not it.

Sat, 05/29/2010 - 09:56 | 380964 snowball777
snowball777's picture

I'm not defending the Red Shields, they're an annoying family of rich people and have done their level best to manipulate markets in their favor before, but you haven't presented a single shred of evidence except for a lame David Duke video (pegging you as a nutcase racist).

I assure you that I loathe Israel, because of their foreign policy and undue influence on American politics, but there's a huge gap between what I see wrong with them and the theory you've posited with almost no evidence to speak of.

When you can come back and make a cogent case, please do so. Until then, please keep your KKK propaganda on StormFront, mmmm kay?

 

Sat, 05/29/2010 - 10:18 | 380981 Belrev
Belrev's picture

Shred of evidence is on TV screens every day. But thou shalt not see, thou shalt not hear, thou shalt not think.

Sat, 05/29/2010 - 11:20 | 381022 FractionalPonzi...
FractionalPonzification's picture

First you believe then you see/hear, not the other way around if you know what I mean. 

Sat, 05/29/2010 - 13:46 | 381182 Au Member
Au Member's picture

http://www.analysis-news.com/

Here is a link to a guy who writes about the banking cabal, he publishes on http://news.goldseek.com/GoldSeek/1275026580.php every week. I don't know if this is legit but it looks like well researched data to me and may back up the Rothschilds/Rockefeller theory that they manipulate the markets.

Sat, 05/29/2010 - 14:01 | 381206 destiny
destiny's picture

rothschild, rockefeller, bush, all the bilderbergers are those who really decide dozn here and govs do what they are told to do by them. now that s a fact and more and more people around the world and namely the west know about that...the fact is we could care less if rothschild and co got richer and richer, the problem is that their gamgling games are putting the populations in the state they re in now and that is not acceptable.  there is myriads documents on the web and else where to find out on the stratagems that are, i m sorry to say...sionists.  many will shout that it s antisemitism, but nooo sir, its pure anti sionism...before saying that those pointing out on rockfeller and cie are nuts, perhaps a verification on those assertions would be wiser. i m european, an i educated myself on who really are those governing us...and they re not to be trusted.

cordially

Sat, 05/29/2010 - 15:23 | 381302 snowball777
snowball777's picture

It's natural to want to seek out an enemy when the fundaments of your religion have failed before your eyes, in this case capital markets, but that won't change the fact that the enemy is us. Our reckless consumption, our trusting others to manage our money, and our willful ignorance about the folly of deregulation.

You want for there to be an identifiable villain, preferably in the form of a small group that you can easily demonize as the controllers that kept you from bein' a contenda...but it just ain't true beyond the fact that a handful of federally-chartered banks have a stranglehold on our economy...because we gave them the power.

Where was the PPT in Nov 08? Why didn't the Bilderberg-Illuminati-Templar-Rothschild axis preventnear-collapse or usher in total collapse then? Hmm?

You want to screw the Rothschilds? Quit your job and move into a cabin in Montana like the Unabomber. Who needs a "one world government" when you silly fucks will pony up labor to enrich these assholes voluntarily?

 

Sun, 05/30/2010 - 06:12 | 382001 destiny
destiny's picture

Thanks for the co;;ent sirm actually I DID quit my job and I m sure doing fine being out of this hyperconsumerism shit...what s happening right now is in my humble opinion orchestrated to install that damned one world gov.  some of us just won t have it and it is possible to live out of this ever crazy system...

Sat, 05/29/2010 - 11:45 | 381041 Mesquite
Mesquite's picture

>Au Member

Hear Hear...

Sat, 05/29/2010 - 07:27 | 380907 abalone
abalone's picture

The EU elite simply got their ambition mixed up with their ability. Happens all the time.

Sat, 05/29/2010 - 11:31 | 381030 destiny
destiny's picture

no sorry, the so called self proclaimed elite in europe is absolutely incompetent...they must get the hell out

Sat, 05/29/2010 - 07:48 | 380911 anynonmous
anynonmous's picture

It seems that ZH had a glitch or whatever and took down GeorgeWashington's contributor post from last night on mysterious goings on in the Gulf oil spill (it's also gone from his site) - but the cache is still available

original

http://www.zerohedge.com/article/either-bp-oil-gusher-has-just-blown-out...

 

cache

http://bit.ly/bvzkln

Sat, 05/29/2010 - 09:46 | 380958 Atomizer
Atomizer's picture

Food for thought.

The Superclass - November 15, 2007

http://www.youtube.com/watch?v=LHtNFZ6K0pE

I realize everyones mind is on Gary Coleman today. RIP

Sat, 05/29/2010 - 11:05 | 381014 destiny
destiny's picture

europe treaty has been voted without the consentment of the people, politicians have acted as treators towards most people, this is not the europe the people wanted.  in france they don t even talk about bankrupcy, they say the euro is strong and will not disapear. they have lied lied and relied. i am ashamed of the kind of politics that we voted for. the only european diplomat worth that name is nigel farage, all the others don t care about the people or even the country they serve they only care about their pensions...this is hollywood politics..the people is really fed up with it. i am french and i sure don t count on sane and sensible outcomes from those residing and allegdly representing our nations.

Sat, 05/29/2010 - 11:14 | 381020 adissidentishere
adissidentishere's picture

+1.3X10^13  I don't necessarily agree with the Rothschild theory (many more involved than one family/group), but open minds are a must.

Sat, 05/29/2010 - 11:41 | 381036 Horatio Beanblower
Horatio Beanblower's picture


No Rothschild, but there is a Rockefeller...

 

This year's Bilderberg conference is taking place just outside Barcelona (interesting choice) from June 3rd to June 6th - http://cryptome.org/0001/bilderberg-2010.htm

 

For some strange reason, there seems to be a lot more Greeks in attendance this year than there has been during previous years.  Is there something currently happening in Greece?  I wish I could be a fly on the wall. 

Sat, 05/29/2010 - 13:34 | 381171 IAmTheStig
IAmTheStig's picture

From Adam Smith’s The Theory of Moral Sentiments:

The man of system, on the contrary, is apt to be very wise in
his own conceit; and is often so enamoured with the supposed
beauty of his own ideal plan of government, that he cannot suffer
the smallest deviation from any part of it. He goes on to
establish it completely and in all its parts, without any regard
either to the great interests, or to the strong prejudices which
may oppose it. He seems to imagine that he can arrange the
different members of a great society with as much ease as the
hand arranges the different pieces upon a chess-board. He does
not consider that the pieces upon the chess-board have no other
principle of motion besides that which the hand impresses upon
them; but that, in the great chess-board of human society, every
single piece has a principle of motion of its own, altogether
different from that which the legislature might chuse to impress
upon it. If those two principles coincide and act in the same
direction, the game of human society will go on easily and
harmoniously, and is very likely to be happy and successful. If
they are opposite or different, the game will go on miserably,
and the society must be at all times in the highest degree of
disorder.

Sat, 05/29/2010 - 13:45 | 381179 trx
trx's picture

Finally - Europeans are starting to catch up with reality! (I hope...)..

A couple of weeks ago I wrote a commentary, pointing out pretty much the same as the openeurope.org. (And a bit more...)

"

So, now the banks are being sued because they’ve been telling their clients and investors more or less the same things as the politicians, the central banks and their economic experts have been telling their citizens.

After trillions of bailout dollars at tax payers’ expense, will the central banks be sued for being the big banks accomplice in a crime?

When do we see the first law suit being filed against a government for misleading the public?

Or will governments start suing people for voting on the wrong politicians?

Just don’t tell me that the “worst is over”….

 

"

 

You'll find the full article here:

You Sue Me, I Sue You, Oh Peggy, Peggy Sue

 

Now you know why I feel blue....(sorry, can't help myself...)...

Sat, 05/29/2010 - 14:04 | 381209 destiny
destiny's picture

well europeans know....they re just not doing shit about it...yet, the french moved in 1789....maybe there ll be a second call..

Sat, 05/29/2010 - 14:52 | 381202 Miles Kendig
Miles Kendig's picture

The authors demand for "a call for greater honesty about the future of European cooperation and a reminder of the urgent need to find a new model that is both politically and economically sustainable" is just as valid in Europe as it is in the US: any system based on lies and opacity is doomed to failure.

The only time a model premised on lies & opacity works is in a game of pimps & prostitutes, which as anyone that has ever played that particular games knows reduces everyone that plays to prostitute.  Otherwise, nothing will ruin a marriage, friendship or any other political or economic union quicker than lies & opacity.  This is the foundation for the rot that is the current IB model that influences the rest.  The money centers are rotten to the core, hence every other system that is reliant upon these putrid puss pots will become as putrid as the IB system they are subservient too.  In this the elite of Europe & the US have been reduced to prostitutes looking to raise enough money for the next fix of heroin.  I should know.  Playing the game killed me.

- Layne

Sat, 05/29/2010 - 14:41 | 381256 WestAfricanChief
WestAfricanChief's picture

Well they were right for ten long years it seems. .

Perhaps those singing the praise of china now,can learn a thing or two from this debacle

what will china and the yuan look like in 2020?

no-one knows. . all i will say is that the US Dollar is the major benefactor of this mess 

and probably of the next mess too

THE WEST AFRICAN CHIEF

Sat, 05/29/2010 - 15:43 | 381319 Miles Kendig
Miles Kendig's picture

I wonder of you know another African Chief that had gone by "Frank"? hmm.  After all, Kinshasa is a widely used hub....

Sat, 05/29/2010 - 19:12 | 381531 DosZap
DosZap's picture

dupe

Sat, 05/29/2010 - 19:12 | 381532 DosZap
Sun, 05/30/2010 - 16:04 | 382479 mynhair
mynhair's picture

Morons, uber-morons, and the rest of us.  The World's 3 classes.

Just tank this pig market.

And buy solars!  If it's good enough for the LA Unified School District, it's good enough for Leo.

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