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US Taxpayers Just Paid $780 Million To Fund The Latest Greece Bailout Tranche

Tyler Durden's picture




 

The IMF is delighted to announce that it just approved a €3.2 billion disbursement of cash for Greece, its fifth, as part of the €12 billion in money that Greece needs in order to continue operating in the months f July and August. And just for what purpose will this money be used, one may ask? Well, as explained a few weeks ago, in Greek Math: €12 Billion In, €18.2 Billion Out the entire amount will be promptly recycled by global financial institutions in the form of debt maturities and interest payments, which amount to €18.2 billion in the months of July and August. Simply said ECB, EU and IMF money in, money owed to bankers out. The kicker: 17.09% of the money coming from the IMF, comes from, that's right dear US taxpayer, you (and since 21% of the quota contributions allocated to the IMF are deemed "non-usable", the actual number funded by the US is likely much higher). But this plot has a bonus kicker: as we reported on Wednesday, the actual Greek debt is no longer owed by European banks to the extent it had been previously expected: a development that threatens to scuttle the entire second Greek bailout plan as currently proposed. So as the banks have been selling Greek debt, who has been buying? Mostly hedge funds, such as everyone's favorite John Paulson. So to recap: US taxpayers have just paid out about $780 million of the $4.6 billion in order to fund interest owed to... hedge funds.

The WSJ provides a pretty chart explaining who is responsible for what:

[IMFGREECE]

And more:

Counting all IMF funding sources, the 15 euro-zone nations would be responsible for a substantially larger stake in the institution's Greek bailout than the U.S. European contributions to the IMF loan, of course, will in turn be dwarfed by euro-zone countries' far larger exposure through the European bailout.

To make its loan, the IMF will borrow from the U.S. Federal Reserve and the other central banks it taps and pay them interest of about 0.25% on the money; the IMF will then charge Greece about 3% on the loan.

Will the money be wasted? That depends on whether the Greek electorate swallows the cuts in salary and pensions required by the IMF and the country's European partners and whether a new economic strategy boosts Greece's competitive position.

The IMF is always at the top of any list to be repaid because its blessing is crucial for any country to be able to borrow internationally. If there were to be any losses on Greek loans, IMF policy is to absorb them rather than passing them on to members.

So that's the truth. And here is the party line, from Reuters:

In announcing the payment, part of a 110 billion euro IMF-European Union bailout package crafted for Greece last year, IMF Managing Director Christine Lagarde pointed to progress being made by debt-laden Greece, though noting that more work remains.

"The program is delivering important results: the fiscal deficit is being reduced, the economy is rebalancing, and competitiveness is gradually improving," Lagarde said in a statement.

"However, with many important structural reforms still to be implemented, significant policy challenges remain. A durable fiscal adjustment is needed, lest the deficit get entrenched at an unsustainably high level, and productivity-enhancing reforms should be accelerated, lest growth fail to recover," she said.

The IMF has warned that the crisis in Greece could reach countries like the United States through money market funds, especially if the contagion spreads to European banks heavily exposed to Greek debt.

The global lender scheduled its meeting to consider the fifth loan disbursement for Greece after euro zone leaders agreed on Saturday to release their portion of the 12 billion euros due to be paid to Athens from the initial bailout.

Lagarde said Greek authorities had made progress in the fiscal area by identifying measures required to reduce the general government deficit to less than 3 percent of gross domestic product by 2014.

She also lauded the government's privatization strategy and noted that while the plan to sell 50 billion euros of state assets by 2015 is "very ambitious, the establishment of an independent privatization agency should help realize transparent and timely implementation."

Still, more work needs to be done, Lagarde said.

"To strengthen Greece's competitiveness, structural reform implementation needs to be accelerated. This will help achieve synergies, such as between privatization and reducing administrative barriers to investment. The reform agenda should be expanded to address Greece's high labor tax wedge and inefficient judicial system," Lagarde added.

Incidentally, while not a minute was spared to sequester and prosecute DSK, today, for the second time, the French Republican Court of "Justice" decided to once again delay its probe into her alleged money laundering affair with Bernard Tapie.

Hedge funds around the world salute the decision, which will simply allow more taxpayer money to be reallocated into their various Cayman Island petty cash accounts.

 

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Fri, 07/08/2011 - 19:04 | 1438618 YesWeKahn
YesWeKahn's picture

It's always good to help brothers.

Fri, 07/08/2011 - 19:49 | 1438705 FeralSerf
FeralSerf's picture

The Germans should be happy they aren't paying the bill.

Fri, 07/08/2011 - 19:57 | 1438728 coppertop
coppertop's picture

you fail

Sat, 07/09/2011 - 00:18 | 1439159 CD
CD's picture


Hey guys, think a little about the Turing test. I have a strong suspicion we have an actual, real-live algo in our midst ( coppertop ). Kinda primitive, responds to simple keywords related to the topic (see reaction to 'undervalued', large block posts of more than one paragraph, reaction to link posted, etc.) Now THIS is an account Tyler/Sacrilege should look into. Have you seen any multi-sentence reply from this account? Possibly just the handler doing the algo testing intervening, if so. No, this is a responsive, text recognition algo, constructing a response that attempts to be contextually tied to posts, based on pre-determined rules and patterns. I suspect it is also learning. See the other thread by Tony Pallotta on comparing 2007 top to current setup, and the sticky thread by Simon Black.

It is just good enough to fly under radar as an annoying/weird ZH reader or outright human troll -- but never inflammatory enough to be called out as such. 

Sorry for the repeated postings of this text, let's try to see if we can poke it enough to respond.

The funny part will be when several of them invade the threads, pick up on and respond to each others' activity and drown the site in HFT responses. (see also karzai_luver)

I have no idea whether this is technically possible, but if it even remotely is, countermeasures are in order.

Sat, 07/09/2011 - 01:13 | 1439196 DoChenRollingBearing
DoChenRollingBearing's picture

Well, CD, you pose an interesting question early on a Sat. AM.

Worth looking into.

Bearings, of course, cannot make logical arguments either.  They just bear the weight and keep on turning.

Sat, 07/09/2011 - 02:21 | 1439227 piceridu
piceridu's picture

Man, I thought something was fishy with that "dude"...replicant?

Deckard: She's a replicant, isn't she? 
Tyrell: I'm impressed. How many questions does it usually take to spot them? 
Deckard: I don't get it, Tyrell. 
Tyrell: How many questions? 
Deckard: Twenty, thirty, cross-referenced. 
Tyrell: It took more than a hundred for Rachael, didn't it? 
Deckard: [realizing Rachael believes she's human] She doesn't know. 
Tyrell: She's beginning to suspect, I think. 
Deckard: Suspect? How can it not know what it is? 

Sat, 07/09/2011 - 12:22 | 1439610 carbon
carbon's picture

 

Great piceridu ! It will be Interesting from what  ( country ) 

them ruff raft reply , after all, truly great outstanding people on zerohedge.

Sat, 07/09/2011 - 09:24 | 1439401 trampstamp
trampstamp's picture

Man you may have something there. Jeez, it even knows how to junk you. That's some pretty good AI. Awesome read!

Fri, 07/08/2011 - 23:56 | 1439142 spekulatn
spekulatn's picture

The Germans should be happy they aren't paying the bill.

 

"Up to perhaps 70 percent of Germans now doubt the long-term viability of the euro according to polls. In Greece some 80 percent are opposed to taking money either from the EU or IMF. In any event, loans are not going to save Greece as it is likely mathematically impossible for the Greek government to pay down its debt by taking on more debt. "Greece's public debt will rise to 161pc of GDP by next year, up from 120pc when the crisis erupted," Evans-Pritchard points out. Greece is headed in the wrong direction and its economy continues to erode as well."

 

http://www.thedailybell.com/2627/Real-Danger-to-EU-Lies-With-German-Judges

Fri, 07/08/2011 - 19:06 | 1438619 mynhair
mynhair's picture

HR 2411 in action.  I knew it.

Fri, 07/08/2011 - 19:07 | 1438622 Rainman
Rainman's picture

This Greek horror flick has to end very badly...<covers eyes>

Fri, 07/08/2011 - 19:08 | 1438623 knukles
knukles's picture

We the people, in order to always be good for a fucking, do hereby passively agree....

Fri, 07/08/2011 - 19:08 | 1438625 mynhair
mynhair's picture

...to be always greased up.....

Fri, 07/08/2011 - 19:09 | 1438629 nmewn
nmewn's picture

....and bounced off a debt ceiling.

Fri, 07/08/2011 - 20:58 | 1438831 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Until the American Dream is dead and gone.

Fri, 07/08/2011 - 20:59 | 1438832 macholatte
macholatte's picture

but wait, there's more.....

           US Tax Payer to bail out ........ Italy, Spain, Portugal

then, in 2 years, do it again.

How much in fees do the primary dealers get?

 

Fri, 07/08/2011 - 21:14 | 1438855 FeralSerf
FeralSerf's picture

How much do they want?

Aren't those the same guys that swindled so much money from the PIIGS that they needed multiple bailouts?

Fri, 07/08/2011 - 21:32 | 1438892 rocker
rocker's picture

1.  This must be Crime Scene Weekend. Sure the primary dealers get fee money.  Handling Fees or something.

     Sort of like we will be buying oil from JPMorgan soon. And gezzzz. Like the FED can not just cut a check.  

2.  I just discovered that House Majority Leader Eric Cantor R-Va. is short U.S. Treasuries.

     The same guy who does not want to extend the debt ceiling, who's party did extend it the past 7 times.

     Why can these guys bet on their own votes. Isn't that like insider trading, collusion or fraud against Grandma's saving account?

Sat, 07/09/2011 - 14:16 | 1439886 James
James's picture

Cantor's a Jew. You know how they are.They just can't help themselves.It's in the genes.

Fri, 07/08/2011 - 21:41 | 1438914 nmewn
nmewn's picture

As I've remarked before, I'm sick of accepting ridiculous premises.

We don't need to raise the debt ceiling at all!

This whole charade they are going through is about government spending.

      >>>At this baseline<<<

 

If it were down here:

     >>>At this baseline<<<

There wouldn't be a problem ;-)

Fri, 07/08/2011 - 22:33 | 1439011 pods
pods's picture

In an ideal world that would be great for the gov to run a balanced budget. But in this one, without the FED.gov pumping debt into the system we would immediately see that 12% hit to GDP and realize the depression we are in.

We will see it anyways, and soon, so either way it doesn't really matter.

pods

Fri, 07/08/2011 - 23:08 | 1439057 nmewn
nmewn's picture

Agreed.

We're all realists here I think...after awhile kicking the can, trading devaluing pennies back and forth to occupy the time gets old.

Government debt caused it, so cannot be the cure of it. It will have to be wiped out with all that entails.

Looks like we'll have plenty of company, no fiat is safe at this point.

What we have to watch for, in my view, is the insidious drive for a world currency out of this latest debacle, historically speaking. It (money) must be kept out of the hands of the credit cartel, meaning, it must be something one can hold in hand, to carry with you to purchase whatever you desire. 

It is a payment of your labor and carries with it that freedom...of sustenance, of lodging, of travel, of entertainment, of vice & virtue...and most of all, always unseen, untracked, uncounted again by the cartel & its statist whores. 

Fri, 07/08/2011 - 23:24 | 1439082 pods
pods's picture

My greatest fear is the supranational currency that is their plan B.  It would reset all the fiats and would allow a new fractional reserve system to emerge.  Most would gravitate to it, as it would offer stability, comfort, and peace.  For a time.

I have argued with many about creation of money, and if it is by fiat, then we are all slaves.  Most raise the eyebrow, but the argument holds. If what you trade for your labor, or the value of it, is controlled by someone else, you are beholden to them.  You do not control what you are paid, for what you receive is not of your control.

I really dont care what we use as money. I like gold, I really like silver. We could use anything finite than cannot be created out of nothing, and cannot be cartel controlled.  It really does not matter what the medium is.  Gold is universal, so that is a great start in my book.  But it does not have to be gold.

Spot on about staying vigilant about the next savior fiat currency which awaits us!

pods

Sat, 07/09/2011 - 07:02 | 1439333 nmewn
nmewn's picture

"Most raise the eyebrow, but the argument holds. If what you trade for your labor, or the value of it, is controlled by someone else, you are beholden to them."

This is key, absolutely correct and needs to be understood.

It has always been about labor and the payment of it.

"I owe my soul to the company store" was not just a line in an old Tennessee Ernie Ford song, it was a fact of life for many ;-)

Sat, 07/09/2011 - 10:44 | 1439490 knowless
knowless's picture

it's hard for me to not like a discussion between two guys in guy fawkes masks...

ford:

http://www.youtube.com/watch?v=jIfu2A0ezq0

cash:

http://www.youtube.com/watch?v=tfp2O9ADwGk

Sat, 07/09/2011 - 17:32 | 1440245 nmewn
nmewn's picture

You've found out these two Fawker's...LOL!

The line in the song is a reflection of the reality of working for company scrip or credit.

By the time next payday rolled around the worker was broke and indebted even more to the company he worked for. The prices at the company store and company lodging being so outrageously high, it was debt slavery.

The long forgotten song speaks to pods and my points quite well I think. And to make the ramifications of what we say to everyone more clear, just substitute the word government(s) for the word company(s).

Money can be anything accepted by both parties as payment and credit is always dangerous, not liberating as has been presented. And to allow only one form (as in a world currency) is an invitation to enslavement.

The idea of doing away with currency/money comes up from time to time. The promoters claim it (currency) to be inefficient. They will say most people use direct deposit and cards for commercial transactions.

What they don't say is what it also does. It can all be tracked to time & place of transaction which is an invasion of your privacy and even your rightful access to it blocked. If the latter can happen, even the past labor you have been paid for is not yours. That is despicable.

Fortunately, there are ways around this as well, it just takes another ID. But the honest shouldn't be forced to think this way.

Maybe Guy Fawkes Jr. ;-)

Fri, 07/08/2011 - 23:10 | 1439064 disabledvet
disabledvet's picture

How many Guy Fawkes we got in this joint?  Anywho this is an awesome critique and in my favorite form:  a single sentence.  The fact of the matter is money printing works at cross purposes to this particular form of governance insofar as growing this economy is concerned.  It is in my view now absolutely the right thing to do at a minimum given the political demands that a military withdrawal from the entire War on Terror be executed upon.  And while it should focus the government on the only task at hand to solve the multitude of crises that have befallen our leaders and ourselves:  jobs, jobs, jobs--strangely it has not.  I think this is a profound "misunderestimation" of the Fed...and by extenstion the Supreme Court of the United States and that institution's critical relationship to having a banking system and putting an economy on a path to growth con gusto.  The key word for me has been since day one "withdrawl."  That is an undefeated military that is being ordered to come home.  What awaits them?

Fri, 07/08/2011 - 23:30 | 1439094 pods
pods's picture

Seems there is quite a strong representation for the man, or maybe the idea?

My favorite is Guy Fawkes-Mulder.  Smashing avatar.

My thoughts on the FED have changed over the past few years. I first saw it as a strict usurpation of power.  I later realized it was a marriage between gov and banking that benefits both.

The government's focus on jobs only suits them if the jobs lead to new debt creation.  That is why continuing education is so important, as it is a continual source of new debt, which by happenstance is non dischargeable.  Perfect for new slaves to get on the hamster wheel.

pods

Sat, 07/09/2011 - 07:13 | 1439338 oldmanofthesee
oldmanofthesee's picture

Correct! They seek to raise the debt ceiling, equal to slightly more of the Obama deficit spending, in EACH of the last two years. Rollback spending to just 2007 levels, no increase necessary. Black and white to me.

Fri, 07/08/2011 - 19:16 | 1438637 knukles
knukles's picture

Take this along with the NYT article today outlining how in 2008 it became (and ain't been changed as of yet, so no political hoots and hollers, grasshoppers) formal policy that the Federal government was no longer going to pursue white collar crime.

Wonder of wonders!
The so called "Conspiracy Theorists" are once agin proven spot on, correctamundo with formal confirmation by the government itself. 

Welcome to the Kleptocracy.
The American Dream is over, done, gone, zilch, nada, no more, fucking past tense, dead and buried without a promise for revival.

Talk about Caveat Emptor.  How's about we change that little homily on our coin and currency from "In God We Trust" to "Every Man For Hisself"
Transparency, my ass.

Fri, 07/08/2011 - 20:37 | 1438790 DoChenRollingBearing
DoChenRollingBearing's picture

Too true, knukles.  No transparency, none at all.

NONE of our financial problems have been solved!

NO ONE of any significance has gone to jail!

I feel like I am beginning to fit in around here in The Lunatic Fringe Battalion of the The Tinfoil Hat Brigade!

Fri, 07/08/2011 - 22:34 | 1439012 pods
pods's picture

Welcome aboard DCRB!  Misery may love company, but crazy loves it more.

pods

Sat, 07/09/2011 - 14:24 | 1439909 James
James's picture

Todays tin is tomorrows reality

Sat, 07/09/2011 - 17:53 | 1440277 knukles
knukles's picture

An anecdote here and an anecdote there and pretty soon it becomes real statistics.

Sat, 07/09/2011 - 04:36 | 1439286 AnAnonymous
AnAnonymous's picture

Welcome to the Kleptocracy.
The American Dream is over, done, gone, zilch, nada, no more, fucking past tense, dead and buried without a promise for revival.

The US has been a kleptocracy from the start. How can the 'American' dream be gone as long as the US is managing to steal its way to prosperity?

The day the US fails to steal, you could kiss goodbye to the 'American' dream, not before.

Fri, 07/08/2011 - 19:09 | 1438626 TexDenim
TexDenim's picture

Dollars down the drain. Greece -- the future Greater Germany Co-Prosperity Annex -- will not survive in its present economic incarnation. Too bad. That money could have been used here at home.

Fri, 07/08/2011 - 21:50 | 1438927 disabledvet
disabledvet's picture

"must comment here...must comment here"....anywho-this dollar amount is awful close to equaling Greece's gold reserves in dollars.  "Party time over"?  My favorite term for what the letters "I M F" stands for came from South Korea in 1998. Let's just say "they're english was impeccable" thus obviating the need for any translation of any kind.  Such is finance!  Has anyone here taken a look at Italy's gold reserves?  I don't know if it's still true but "the banks get paper claims on it"--yet for some odd reason they keep clamoring for something other than the current "paper disbursement."  Go figure!

Fri, 07/08/2011 - 19:17 | 1438639 Joebloinvestor
Joebloinvestor's picture

The contagion already spread when they said default threatened all.

Fri, 07/08/2011 - 19:19 | 1438642 putbuyer
putbuyer's picture

Mark Levin just quoted ZH to 8.5 million people.

This story

http://www.zerohedge.com/article/us-needs-generate-254000-jobs-month-65-...

Listen live

click listen live. http://www.925foxnews.com/

Fri, 07/08/2011 - 19:43 | 1438691 mynhair
mynhair's picture

Good man.

Fri, 07/08/2011 - 20:38 | 1438794 DoChenRollingBearing
DoChenRollingBearing's picture

+ 2, you guys

Fri, 07/08/2011 - 21:51 | 1438930 disabledvet
disabledvet's picture

our viewership is higher.  Plus we're global.  We have Sudden Debt too.  Good luck finding that guy on the tele...

Fri, 07/08/2011 - 22:53 | 1439035 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

I tried to tune in, but I was blocked from hearing the redneck opinion of Mr Levin.  What was the quote?  Did he talk about Fight Club?  You do not talk about Fight Club!

Fri, 07/08/2011 - 19:21 | 1438648 kito
kito's picture

i need a virtual chair to throw against a virtual wall to vent my complete disgust and anger.....

Fri, 07/08/2011 - 19:24 | 1438653 Hook Line and S...
Hook Line and Sphincter's picture

The U.S. tax payers will never end up 'paying' dollars for this debacle, but they will be driving on toll roads, working in mines, and trespassing in once public lands that are to become the ownership of those that invoke the magic of squirting currency and credit out of their butt.

 

Fri, 07/08/2011 - 20:42 | 1438800 DoChenRollingBearing
DoChenRollingBearing's picture

Unless of course they give us another year to buy more gold...  Then maybe you all can drive over MY toll bridge when gold gets to $55,000 / oz.  Or buy from MY gas stations, the only ones in town.

I have a feeling that nature / God dispenses rough & uneven justice if you wait to see it.  Banksters will likely suffer for their misdeeds, even if a few get away on their Gulfstreams.

Sat, 07/09/2011 - 10:43 | 1439489 j0nx
j0nx's picture

Keep believing in that fantasy. The .gov will seize your metals LONGGGG before it reaches that price and you will be left there crying in your piss warm beer unless you are man enough to stand up to them when they show up at your door. In that case you won't be around to cry in your piss warm beer. GL with that hoarding metals and dreaming of being rich fantasy. They did it 80 years ago when there were no computers or detailed records of who bought what - think on that and be prepared to go on the lamb, work in the black market and constantly evade the man if you plan on enriching yourself on PMs if/when shit hits the fan for real.

Fri, 07/08/2011 - 21:36 | 1438900 Smiddywesson
Smiddywesson's picture

Too true

We can never pay this debt.  But then, TPTB knew this a while back, so I have to believe that they want to sink us so low that the US of A can never threaten them.  They have to make an example of us, because we became so powerful that we could have stopped them.  People will talk about what they did to us for hundreds of years.

Unless, things get so funky that they lose control of the situation.  Our society is so efficient and fragile, and global, that I dont' think TPTB really appreciates that they are not only playing with fire, but they will never again be able to put together the scheme they have today if things get out of hand.  In exchange for short term plunder, they have risked completely losing control.

Cost of anarchy: Several billion lives

Cost of freedom: Priceless

Bring it on.  I live in a country with energy, water, aerable land, and everyone has guns, lots of guns.  The big losers if "civilization", meaning the intricate dance of a modern global economy, breaks down, are the countries that no longer have any farming because of the IMF and the World Bank.  They have to pray nothing changes in a world where everything always changes.

Sat, 07/09/2011 - 14:22 | 1439905 the tower
the tower's picture

You have watched too many Hollywood movies... IF anyone is gonna fight it will be American against American. Cause you have guns, lots of guns...

Fri, 07/08/2011 - 19:32 | 1438670 bankruptcylawyer
bankruptcylawyer's picture

178 others?

 that's balogna. 

Fri, 07/08/2011 - 19:37 | 1438682 Atomizer
Atomizer's picture

Duh! How long have I been warning you peeps about those fuckers at the IMF, UN, and BIS?

Psssssssst. They need to go negative in order to institute world governance plans. You're expected to flock to this change thru lack of job growth and being in default with over sea's creditor's.

Just more smoke & mirrors to fear monger J6P in complying.

Steve Liesman will explain very soon on why your cooperation is necessary to turn this US economy around. LOL

Fri, 07/08/2011 - 19:45 | 1438693 sabra1
sabra1's picture

if we all donate more of our salaries, all of europe can be saved, no?

Fri, 07/08/2011 - 19:45 | 1438695 mynhair
mynhair's picture

When the hell do we get stuck bailing out NoKo?  JPM could make bundles off SNAP there...

Fri, 07/08/2011 - 19:45 | 1438697 FubarNation
FubarNation's picture

Like I said yesterday when Mr. Soetero told everyone who lost their jobs he'd take care of their mortgage payments for a year,

 

Fuck this shit.

 

 

Fri, 07/08/2011 - 19:50 | 1438713 coppertop
coppertop's picture

Do you really like David Faber?

Fri, 07/08/2011 - 19:47 | 1438698 FubarNation
FubarNation's picture

I'm ramping up the tax avoidance this year.

 

Fri, 07/08/2011 - 19:50 | 1438717 coppertop
coppertop's picture

Try Mexico

Sat, 07/09/2011 - 04:13 | 1439280 Non Passaran
Non Passaran's picture

Right on. Fuck them.

Fri, 07/08/2011 - 19:49 | 1438706 dcb
dcb's picture

I called the IMF in washington to find out how much of the money came from the good old USA. nobody could/would answer me. I asked if the proportions were determined by the quota system they had. Once more nobody could/would answer me. In my mind they were attempting to make sure I had trouble finding out. I lookrd in detail on the web site to find someowhere it was spelled out easily in english. No go

Fri, 07/08/2011 - 20:44 | 1438802 DoChenRollingBearing
DoChenRollingBearing's picture

Sleazy, but not a surprise.

Banksters = Roaches

Fri, 07/08/2011 - 20:06 | 1438724 Pool Shark
Pool Shark's picture

 

No surprise.

Here's how we've been getting screwed:

http://www.maxim.com/amg/HUMOR/Articles/Found+Porn+Pic+of+the+Day:+July+8,+2011

 

Fri, 07/08/2011 - 19:54 | 1438726 Ned Zeppelin
Ned Zeppelin's picture

Time to reach for the nearest handgun and take matters into our own, revolutionary hands.

OK, just kidding, isn't Idol on soon? 

I think from now on maybe I don't want to hear about this sort of thing, since I can't prevent it from happening. 

Fri, 07/08/2011 - 20:02 | 1438733 mynhair
mynhair's picture

Yep.  Sand, meet head.

Just never vote for a 'D' again.  The 'R's may not be so great, but the damage they do is slower.  We need time to get a third party going.

Sat, 07/09/2011 - 14:26 | 1439919 the tower
the tower's picture

How about 5, 6 or 7 parties, like in a real democracy... do Americans have that little to say about their country? Two parties... take one out and you have communism...

Fri, 07/08/2011 - 19:56 | 1438727 mynhair
mynhair's picture

Just expand the NASA Center for Muslim Outreach, and all of Europe will be bailed out.

Fri, 07/08/2011 - 20:02 | 1438736 Seasmoke
Seasmoke's picture

how is Japan paying 6% , let alone 6 Cents !

Fri, 07/08/2011 - 20:04 | 1438741 mynhair
mynhair's picture

Nippon has an excess of medical radioactive compounds, that's how.

Fri, 07/08/2011 - 20:03 | 1438738 Wannabee
Wannabee's picture

Can we just add another check box to the Reduce the Dedt Down Act, include IMF too...

I'll pitch in a penny each.

Fri, 07/08/2011 - 20:05 | 1438745 mynhair
mynhair's picture

I'm still looking for the check box to Reduce a Liberal.

Fri, 07/08/2011 - 20:23 | 1438766 Wannabee
Wannabee's picture

On the same page here. Committee after committee after program after program after dept after dept. Please pass the pepto...

Fri, 07/08/2011 - 20:46 | 1438808 DoChenRollingBearing
DoChenRollingBearing's picture

Rick Santelli (yesterday?, I don't have the CNBC video) ranted again it's the SPENDING.  Yes, we CAN get out of this by cutting spending.  Yes, lots of oxen would be gored, but we CAN DO IT, by cutting spending.

Not even the Rs are with Rick on that.  *Sigh*

More gold, bitchez.

Fri, 07/08/2011 - 21:28 | 1438887 Wannabee
Wannabee's picture

Its really not hard. x comes in, x goes out. Recipe for disaster when you resort to accounting gimmicks to justify x^infinty going out.

Fri, 07/08/2011 - 21:33 | 1438899 mynhair
mynhair's picture

x?  Is that the variable name for Liberals?

Should be:  x should come in, and we can spend x^6 on Liberal crap.

Fri, 07/08/2011 - 20:04 | 1438742 oogs66
oogs66's picture

where do we get the money?  don't we have to borrow to pay this?  debt ceiling?

Fri, 07/08/2011 - 20:51 | 1438817 slewie the pi-rat
slewie the pi-rat's picture

see Peter_Griffin, below @ # 1438763.  i think he is correct, altho tyler may soon be explaining why this is not so. 

Fri, 07/08/2011 - 20:05 | 1438743 Atomizer
Atomizer's picture

What is happening in the EU will occur here. The progressives have blown their taxpayer wad with nothing to show for it. The final kill switch will to drain municipalities in hopes to raise more money under wealth redistribution efforts jaded by shell game accounting.

This old video below is a staple in understanding the constraints imposed, thus lack of job creation and economic recovery.

BTW, the Obama patents spin is a key story. America is going to be hijacked again. Be aware.

Red Hot Chili Peppers - Can't Stop

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

 

 

Fri, 07/08/2011 - 20:13 | 1438753 TooBearish
TooBearish's picture

Lookit Italy right in there HA! What a gotdang circle jerk

Fri, 07/08/2011 - 20:14 | 1438754 km4
km4's picture

Obama blames political wrangling for rise in the number of unemployed | Business | The Guardian http://bit.ly/npNBWD

Two words: clueless puppet

Fri, 07/08/2011 - 20:19 | 1438759 jo6pac
jo6pac's picture

iS A FREE TIME SHARE INVOLED?

Fri, 07/08/2011 - 20:21 | 1438763 Peter_Griffin
Peter_Griffin's picture

I don't see how this equates to tax payers on the hook.

 

Seems like a loan originating at the fed reserve passes through IMF on its way to Greece.

Fri, 07/08/2011 - 21:25 | 1438879 FeralSerf
FeralSerf's picture

That "loan" from the Fed is the savings of Americans so they can eat and stay warm after they're too old to work.  I guess we'll just eat Fido instead.

Fri, 07/08/2011 - 21:41 | 1438911 slewie the pi-rat
slewie the pi-rat's picture

no, not directly.  the FED isn't loaning out savings. 

yes, indirectly, in that the fiat is pure printing/swap for imf paper debt, which creates new money, inflating away the value of savings held in dollars or almost any fiat currency.

Fri, 07/08/2011 - 20:24 | 1438767 FUBARian
FUBARian's picture

Fortunately we'll end up defaulting so this is really just play money.

Fri, 07/08/2011 - 20:30 | 1438776 f16hoser
f16hoser's picture

Glad I could help!

Oh by the way, Geithner, Bernanke, Obama, Bush, DSK, LaGarde (spelling) GO FUCK YOURSELVES!!!!!!!!!!

Fri, 07/08/2011 - 20:31 | 1438780 Reese Bobby
Reese Bobby's picture

I am sad.

Fri, 07/08/2011 - 20:37 | 1438791 slewie the pi-rat
slewie the pi-rat's picture

at this point, the little child, listening to this tale of bullshit & woe, would ask:  but, where does the US federal reserve get the money to loan to the imf @ 0.25%?

well, little buckeroo, we're glad you asked!

they have a magic button, which controls an invention called...

Sat, 07/09/2011 - 17:55 | 1440280 knukles
knukles's picture

A vibrating public anal plug

Fri, 07/08/2011 - 20:37 | 1438792 trampstamp
trampstamp's picture

Full circle man... Disgusted

Fri, 07/08/2011 - 20:39 | 1438793 Caviar Emptor
Caviar Emptor's picture

And the funniest part of it all? Unknowingly, they're rebuilding the kinds of interdependencies and vulnerabilities that took the system down in 2008!

Hedge funds now depend on levered and broke banks which are depending on levered and broke countries to repay unsustainable debts

The IMF has warned that the crisis in Greece could reach countries like the United States through money market funds, especially if the contagion spreads to European banks heavily exposed to Greek debt.

 

Fri, 07/08/2011 - 20:45 | 1438806 nmewn
nmewn's picture

"Hedge funds now depend on levered and broke banks which are depending on levered and broke countries to repay unsustainable debts"

A soon to be classic ;-)

"The world will soon wake up to the reality that everyone is broke and can collect nothing from the bankrupt, who are owed unlimited amounts by the insolvent, who are attempting to make late payments on a bank holiday in the wrong country, with an unacceptable currency, against defaulted collateral, of which nobody is sure who holds title."  - Anonymous
Fri, 07/08/2011 - 20:49 | 1438813 DoChenRollingBearing
DoChenRollingBearing's picture

EXCELLENT observations nmewn...

My gold is not anybody's liability. It's a good feeling that part of my money is not owed to me.

Fri, 07/08/2011 - 20:52 | 1438818 Caviar Emptor
Caviar Emptor's picture

Exactly. Hence the appeal of the shiny metal. It's fast becoming the only store of value that anyone can depend on 

Fri, 07/08/2011 - 22:31 | 1439007 nmewn
nmewn's picture

The quote came by way of Dave in Denver, from Jesse's Cafe. I'm a stickler for attribution, even anonymous ones.

If things stay as they are here you may have a new neighbor ;-)

Fri, 07/08/2011 - 20:40 | 1438799 AldousHuxley
AldousHuxley's picture

Is this like Bank of America bailing out Merrill brokers after they took the bonus?

Fri, 07/08/2011 - 20:46 | 1438807 chump666
chump666's picture

and the US consumer will pumped on oil inflation if that madman Bernanke sets USD destruction absolution

Fri, 07/08/2011 - 20:50 | 1438815 Caviar Emptor
Caviar Emptor's picture

Here's the trouble with all of the "Austerity" actions (which includes the US Federal austerity budget cuts): Once you've made exceptions to every one of your "rules" it's hard to force others to live by those same "rules". 

So having crossed the line and bulked up the Federal debt by trillions to bail out Wall Street and the entire financial universe (plus corporations that depended on them), including foreign banks, it's not going to be so easy to tell US taxpayers that they're going to have to be the goat that tightens the belt, takes the hits of "shared sacrifice" and kiss their financial security goodbye. 

Those rules of "fair play" and "pulling together" have forever been broken. I predict there will be lots more resistance and anger than anyone anticipated and it will get vented at both parties 

Fri, 07/08/2011 - 22:51 | 1439032 pods
pods's picture

I think that the secret is actually starting to get out.  The secret is that WE control the beast.  We can collapse the system without a shot being fired.  They way is pretty simple

Avoid any and all credit.  

The gov had to step in and expand debt to keep up with mounting interest after 2008, as once that debt curve rolls over all hell breaks loose.  They stepped in to keep the debt expanding to avoid a deflationary implosion.  Now they have reached the end of their rope and private credit still is not expanding.  We are on the precipice of forcing that collapse.  

We can win by simply waiting them out.  By NOT borrowing.  When you dont borrow, you dont create more FRNs. 

Shed the chains that bind you, get out of debt, and dump all your FRNs into precious metals, Au, Ag, Pb+Cu.

It can be done, but it is going to be a hell of a road.  Still better odds than the IMF stepping in here with their "conditions" and loans.  

Sat, 07/09/2011 - 02:22 | 1439228 Real Estate Geek
Real Estate Geek's picture

Better chance of convincing a junkie to "just say no."

Fri, 07/08/2011 - 21:24 | 1438823 Atomizer
Atomizer's picture

We have another economic crisis on our hands, depicted by your Democratic elected civil servants. Bare in mind, they will tell you lies and deny that they ever saw this coming.

Between the last draw on MSM spin... US civil servants will incorporate the old techniques to sway nimble minds.

The Stanley Milgram experiment

http://www.youtube.com/watch?v=ZVitUDBxtDs&feature=related

Fri, 07/08/2011 - 20:59 | 1438833 ssp2s
ssp2s's picture

$0.78 Billion?  No prob.  That isn't even a half a day's printing.

Fri, 07/08/2011 - 20:59 | 1438834 AldousHuxley
AldousHuxley's picture

Zionist bankers bailing out each other to keepp financial elites in power.

 

Jewish Woman Tells Us Why Many Jews Don't Live In Israel

http://www.youtube.com/watch?v=7GQIptKdqNg

mass media will never air this in America

Fri, 07/08/2011 - 21:14 | 1438857 mynhair
mynhair's picture

If by Zionist, you mean NY joos, ok.  And those like are in SE Florida, ala Wasserman (Burn my split ends) Schultz.

Fri, 07/08/2011 - 22:06 | 1438966 JW n FL
JW n FL's picture

You can Prosecute any Group within the Guilty Parties that you would enjoy prosecuting.. but at the end of the day, they all have to be prosecuted.

 

A Lobby Whore is a Lobby Whore is a Lobby Whore.. there is no difference between any of them.. other than the dog and pony show put on for the sheep.

 

So catch up, tomato and bring a rope when you come there are already plenty of trees on the White House Lawn.

Fri, 07/08/2011 - 21:03 | 1438838 jomama
jomama's picture

been hurt so much, can't even feel the pain anymore.

Fri, 07/08/2011 - 21:15 | 1438851 slewie the pi-rat
slewie the pi-rat's picture

is this a possible quid pro quo = QE III?

1)  we buy your worthless paper with our green stamps.
2)  you buy our worthless paper with your red stamps.

win-win!  yay! 

but, if we don't get that debt ceiling raised, we may be at a competitive disadvantage in indebting our nation...

*gasp!*recoiling in horror*  the dreaded debt gap!

 

Fri, 07/08/2011 - 21:16 | 1438862 mynhair
mynhair's picture

What?  My blue stamps are worthless?  Dam, they work in the teleprompter!

Fri, 07/08/2011 - 21:24 | 1438878 slewie the pi-rat
slewie the pi-rat's picture

the blue stamps may be used for japanese, australian, and so. korean debt.  if you btfd, and try some butterfly spreads, i'm sure you'll do ok, mynfurball.

Fri, 07/08/2011 - 21:48 | 1438925 gwar5
gwar5's picture

It's the dreaded Great Atlantic Circle Jerk Omen completing a second cycle.

They're all smoking their cigarettes about now.

Fri, 07/08/2011 - 22:05 | 1438963 slewie the pi-rat
slewie the pi-rat's picture

oh, my, gwar!  and, with those big, inflated, flammable hindenburgers ordered for dinner, this could end badly...
one little fart and the whole place goes up!  talk about deadly flatulence! 
oh!  the humanity! 

Fri, 07/08/2011 - 21:15 | 1438860 RobotTrader
RobotTrader's picture

Paper, Bitchez!!!

Heh, absolutely hilarious how we are financing all the bailouts worldwide yet investors are still clamoring for Uncle Gorilla notes, and yields are still smashed at 45-year lows, and credit card stocks have left gold mining stocks in the dust the last 2 years.

No doubt, "Paper" rules over "Things".....

Hey, when is Jim Puplava going to interview the CEO's of GMCR, LULU, FOSL, SBUX, etc. instead of having guys like Jeff Christian on???

LOL.....

Fri, 07/08/2011 - 21:17 | 1438865 mynhair
mynhair's picture

Any hints on paper producers that will benefit?

NFLX suks.

Fri, 07/08/2011 - 21:44 | 1438919 Caviar Emptor
Caviar Emptor's picture

Your 'investors' are nearly 75% program trading. How long do you think those boyz 'll stay 'invested' if DC debt hawks win, or Euro bank contagion spreads it's wings?

Hehe. Ever see how fast it takes a 3-card Monty game to break up when they spot a cop? 

Fri, 07/08/2011 - 23:30 | 1439093 disabledvet
disabledvet's picture

I think i've found the answer.  In case your wondering "Gingy's a floor trader on the NYSE" who's long the market.

http://www.youtube.com/watch?feature=player_detailpage&v=-5AVxR5rcvc

 

Fri, 07/08/2011 - 21:17 | 1438864 Pumpkin
Pumpkin's picture

All unlawful acts become lawful when using unlawful money.  Apparently.

Fri, 07/08/2011 - 21:19 | 1438871 mynhair
mynhair's picture

Depends on who makes the laws.  Or who is so disarmed as to not object.

Fri, 07/08/2011 - 21:20 | 1438875 mynhair
mynhair's picture

God, I'm jonsing here...need a teleprompter fix....

Fri, 07/08/2011 - 21:32 | 1438891 Bansters-in-my-...
Bansters-in-my- feces's picture

Interest Payments Bitchez..........

FUCK YOU IMF...

Ps..............your too CFR.

Fri, 07/08/2011 - 21:31 | 1438893 Caviar Emptor
Caviar Emptor's picture

The Ponzi endgame: when the original chain letter-writers end up receiving a copy of their very own chain letter from three people soliciting money for a "sure-fire, get-rich-quick scheme that can't lose". Now they either have to break the chain and let the pyramid collapse (and not get fully paid) or borrow more money to keep the chain going in the hope that the scam will run just long enough to profit and get out. 

That's where we're at when Greece solicits money from Euro countries who solicit the ECB who solicits the IMF who solicits the Fed who in turn solicit hedge funds and US taxpayers. Now the next step is for hedge funds to solicit money from Greece when they get in trouble. 

Fri, 07/08/2011 - 23:13 | 1439067 centerline
centerline's picture

LOL.  All the players at the table know that the game ends badly when the first person goes for the exit.  Each round of play seems to create more and more tension.  Who's going to snap first is the question?

Fri, 07/08/2011 - 21:43 | 1438918 Mr Sir
Mr Sir's picture

The banks still hold all of the Greek debt they held a year ago. On the Financial Ministry of Greece website on their public debt bulletin they show secondary trading volume month by month in Greek debt and the volumes since May 2010 have dropped to about zero. Also, a bank holding Greek debt at par would not sell it at anything less, especially now, because after bailout #1, comes bailout #2, which leads to bailout #3. The QE programs have similar sequels they are both like the Police Academy movies.

Fri, 07/08/2011 - 21:48 | 1438923 Atomizer
Atomizer's picture

Just a small suggestion, stop isolating nationality with those folks who are appointed into power. The divide and conquer scheme will come to a scorching halt. You will in fact learn, these nationalities are intentionally appointed to keep you divided.

When the shadow figures are painted into a corner, they will rear their ugly head to protect the system of fraud. As we keep exposing, we're closer to forcing the anonymity of people who are causing harm on an international global scale. As I have posted before, the names are known. The game of chess is in play. This entire Earth will find out some very shocking events in near future.

 

Sat, 07/09/2011 - 04:41 | 1439288 AnAnonymous
AnAnonymous's picture

Just a small suggestion, stop isolating nationality with those folks who are appointed into power. The divide and conquer scheme will come to a scorching halt.

 

The world elite is mostly US citizen. No risks about that.

Fri, 07/08/2011 - 21:53 | 1438935 sgorem
sgorem's picture

Shit guys, the water isn't even boiling yet. ribbit........

Fri, 07/08/2011 - 22:17 | 1438983 slewie the pi-rat
slewie the pi-rat's picture

kinda like being a nice warm tadpole in the sun. again...
i sure hope this isn't one of those nuclear water heaters...
sometimes it's not eZ being green...
...ribbit...

Fri, 07/08/2011 - 22:00 | 1438954 JW n FL
JW n FL's picture

Thank God those Lobby Monies are paying off.. 2 and 20 look a little lite lately.. given the earnings / bonuses of the banks!

 

I know all of you Voted for this..

 

I know all of the elected officials are carrying out your wishes..

 

I know that we are all well represented!

 

it is good to do God's Work!

Fri, 07/08/2011 - 22:17 | 1438986 Atomizer
Atomizer's picture

Glad you chimed in. It was my subtle approach to gently remind you that.. as the apple is pealed away, you'll find the nasty core. Don't feed on what your told. The true architects will be revealed. The news will be stunning. 

These cunts are in a fight or flight mode. This is not a joke.

Fri, 07/08/2011 - 22:53 | 1439034 Diablo
Diablo's picture

wait till the USA gets the bill for the soon-to-be italian bailout. thats should be good for a few chuckles.

 

Fri, 07/08/2011 - 23:04 | 1439048 Hacksaw
Hacksaw's picture

It's nice to see that the game plan hasn't changed any in the last few years.

Other things haven't changed much either, only the names were changed. It once was the Ds and now it's the Rs.

http://www.youtube.com/watch?v=KnnLrmboOYE&feature=related

http://www.youtube.com/watch?v=-7Y0ekr-3So&feature=related

I hope to God that the spirit of revolt against the war and against the establishment rises up in the boomers and they fill the streets in protest once again.

http://www.youtube.com/watch?v=8Kk-fdgrpqg&feature=related

Sat, 07/09/2011 - 13:35 | 1439780 JW n FL
JW n FL's picture

YAY! the Boomers are going to paint signs and talk to the Bankers! we are all saved, I can take a nap now and sleep well knowing that the Boomers are talking to the Bankers some more.. just like the last 30 - 40 years of Hot Air and NOTHING! but being Furthered Raped!! 

 

The Pot Head, Hippie, Worthless Fucks who let the Bankers do this are going to talk to the Bankers! YAY!!  

Fri, 07/08/2011 - 23:09 | 1439061 centerline
centerline's picture

Million, billion, trillion... it's all absurd at this point.  The system has already be vaporized.  It is just one of those interesting things that it can "seem" to go on for awhile simply by refusing to recognize reality.  Zombie cash sloshing around the system, cannibalizing everything in it's path searching for yield to sustain impossible mathematics beyond the point of initial debt saturation.      

Sat, 07/09/2011 - 01:05 | 1439186 uknowwhat
uknowwhat's picture

Where is the Egyptians when we need them?

Sat, 07/09/2011 - 01:59 | 1439215 What_Me_Worry
What_Me_Worry's picture

It's a giant circle jerk party and you're all invited!  Except you, physical gold/silver.  You are not welcome.

Does Greece have to contribute to its own bailout?

Sat, 07/09/2011 - 02:20 | 1439223 slewie the pi-rat
slewie the pi-rat's picture

collateral
and, from my efforts to understand the SPV, something akin to "points" it seems, via discounting, or something like discounting.
maybe

Sat, 07/09/2011 - 02:48 | 1439245 AustrianEconomist
AustrianEconomist's picture


It is clear that the Economic
theories in place are outdated, just look at the unemployment report, 99.99% of
professional economist were completely wrong and are all wearing their rose coloured
glasses rather be realistic. The US economy is in huge trouble, that’s a fact.


Check out the latest from the Capital Research Institute (CRI): Creative Destruction – A New Economic Order
www.capitalresearchinstitute.org

Sat, 07/09/2011 - 03:28 | 1439262 Dre4dwolf
Dre4dwolf's picture

So what, we have like 1 trillion trillion in debt, whos counting anymore? like anyone notices  afew million here and there.

Sat, 07/09/2011 - 04:17 | 1439283 flacorps
flacorps's picture

Greece up, America

Sun, 07/10/2011 - 21:07 | 1439289 toto
toto's picture

Always keep in mind the following:

 

Warning against the Troika, the banks and local or foreign prospective investors who covet Greece’s public property.
The revoked and dictatorial Greek government that does not represent the people of this country has just voted for bills, with which it intends to sell Greek public property and land against the will of the majority of the people.
We would like to inform those who consider this a potential investment opportunity that we shall not delay overturning this government which will soon account for its crimes against the people and the country. The government’s signatures and bills are legally void. The Greek people have not ratified them and by all means do not recognize them.
We warn every prospective investor not to even think of approaching an auction or sale of public property or land, and not even to consider buying it. Besides the fact that, as soon as we regain our country’s sovereignty, the investor will lose all purchased, the money spent for the illegal trade will not be reimbursed.
We also warn every prospective investor that until we regain control of our country, we will recur to all necessary actions via our self organization to annul and sabotage every investment, so that we defend our rights as these stem from the Greek Constitution and the internationally recognized rights of the people.
Therefore, we warn all prospective investors not to dare go bargain shopping for our public property and land in Greece, unless they realize the high risk of their investment. In the above case, the investment will be considered “welcome” in the country where, when somebody deprives the people of their freedom, they can give birth to a Kanaris¹  or demolish a bridge in Gorgopotamos².

The People’s Assembly of Syntagma Square 03/07/2011
 

1)      Constantine Kanaris (or Canaris, Greek: Κωνσταντ?νος Καν?ρης) (1793 or 1795 – September 2, 1877) was a Greek Prime Minister, admiral and politician who in his youth was also a freedom fighter, pirate, privateer and merchantman.

2)      The rail bridge at Gorgopotamos that was blown up by the resistance during WWII

Sat, 07/09/2011 - 09:25 | 1439403 overmedicatedun...
overmedicatedundersexed's picture

discuss the jobs depression, the debt explosion,the corruption at all levels..all interconnected to the agenda..the one that CFR and other elites have openly stated.

this agenda is working it's plan..dismantle of USA economy must happen to allow the NWO.

so perhaps we all should take a step back and see the plan and how it is working..much ado about the debt ceiling, or jobs in USA..or our economic genius economist missing basic data such as job numbers..all interesting but all

missing the BIG POINT..this is the NWO plan in action. sad to say the elite sociopaths plan is on time and moving to it's hellish (for us) conclusion.

Sat, 07/09/2011 - 10:20 | 1439461 Fix It Again Timmy
Fix It Again Timmy's picture

Our government will simply tap another source of cash - coin change dropped into couches - watch for FBCS agents - Federal Bureau of Couch Shakers..

Sat, 07/09/2011 - 16:35 | 1440165 kevinearick
kevinearick's picture

Cheap interest on interest on interest, compared to the principle ...

Asumption, Exits, & Currency

The exit is always a widely held assumption. For example, most students automatically assume that protons, electrons, and neutrons are inanimate, without bothering to think about the implications, just as operators assume that the planet is always going to be there to bail them out. Bad assumption.

When you build your portfolio, you want to be thinking about all the bad assumptions in the market. You’ve heard it a thousand times, “the President is the most powerful man on the planet.” Is that really true?

Assumptions are the fault lines. The fault lines are like a spider web / crack. With the right wedge, hammer, and force, there is always an exit for the individual. Because the market seeks to secure the fault lines with numbers, currency misdirection, in the interest of gravity, the established currency automatically responds to numbers, rewarding homogeneity, or economies of scale.

The euro wants it both ways. Aggregate thinking is inherently socialist, which drives the accounting fountain. The only difference between the nation/states is the nature of the misdirection, relative force required to offset relative programming failure in the black hole of currency feedback. It wants independent communities theoretically, but cannot tolerate them practically, because currency itself is an illusion.

Critters measure their lives in money everyday, seeking something for nothing, and then proselytize that money isn’t everything. Currency is a tool, nothing more, the value of which … Ironic (/hypocrite), the socialist kumbaya entitlement mongers violently protesting over money.

Sat, 07/09/2011 - 20:39 | 1440485 MicksBus
MicksBus's picture

Tis some carry on lads!

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