Either the ECB Prints and Germany Walks… or the EU Sees a Domino Debt Collapse Followed by Systemic Failure

Phoenix Capital Research's picture

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silverscouseparis's picture

there is another option-germany stays in and theres a lot of debt destruction and bank collapses first in europe then around the world.

electricgorilla's picture

<<<slowly picks up nickels off the bedroom floor, dusts off, then places in large bucket


boiltherich's picture

I do not even stoop over for quarters any more, they will not even buy you the calorie equivalent of the energy used to bend down and get them.  Might as well leave them there for the homeless people to pick up, and after all that is the GOP plan for less fortunate Americans right?


Clowns on Acid's picture

No Shiite Dick feckin' Tracy! Master of the Obvious....

jomama's picture

no mention of SDR's?!

(or aliens for that matter)?!

Crisismode's picture

WHAT? Your last World-Ending-Drama Did Not Happen On Schedule?


Now we have a NEW WORLD-ENDING-DRAMA of the week?





AndrewCostello's picture

People should have a choice between the Euro and National currencies, then let the market decide.  The only thing worse than the Euro is the US dollar - sadly, people are fools and continue to buy it.




BW's picture

The ECB will continue to print and Germany will pretend they hate it.

bill1102inf's picture

If the Euro loses 40% of its value IM GOING TO AMSTERDAM BITCHEZ!!!

hivekiller's picture

Socialism is for losers. It rewards the weak and handicaps the strong. You'd think people and countries would figure that out after awhile. I think all they are doing is replacing the Euro with SDRs. The plan all along. They will crash the dollar and do the same here. One fiat currency to rule us all.

Freddie's picture

Oddly ZH has more than a few AH's who voted for Hope & Change though McCain was the Democrat Party/Soros back up plan. 

BTW - Holland is also talking about holding a referendum to leave as is Austria.

bill1102inf's picture

Americans believe socialism is a four letter word. Meanwhile, the most succesful non 1%ers in America are the socialists.  POLICE, FIRE, FED, STATE, LOCAL, DOJ, DOE, Post Office, etc etc etc.  are ALL socialist programs run off the backs not of the others in the program but the people who actually believe they live in some kind of 'democracy' without even knowing what that means, nor that they are suppose to be living in a Republic.  Truley amazing the lies Americans believe.

Milestones's picture

Here now,--hear,hear!!                Milestones

Freddie's picture

The unionized govt workers and union workers with the politicians are the elites or oligarchy living off the backs of others.  Attorneys and doctors create their own cartel as do investment bankers.

You also have people getting money from the govt in welfare, food stamps, illegals getting endless benefits.  They are protected classes by the oligarchy an dtheir foot soldiers.

The rest are the sheep paying for it. 

These MF'ers always throw out this propaganda that teachers, cops and firemen as like Mother Theresa or annionted saints.  F  unions and unionized govt workers.  

Bananamerican's picture

last i heard, Germany and all the other "Nordic" countries were doing relatively well vis a vis their "indolent, sunny, southern" EU neighbors...

and not a single Ayn Rand Free state in the Teutonic lot...

Quite "Socialist" in fact.....

Seems there isn't a single, monolithic, socialist paradigm...

Now get a haircut and pick a gender

AldousHuxley's picture

You have the opportunity to unionize in your place of employment or profession

You have the opportunity to go to law school and joing attorneys cartel

You have the opportunity to study in med school and join the medical cartel

You have the opportunity to go work for government unions

You have the opportunity to join wall st cartel as wall st. analysts

You have the opportunity to sign up for welfare, food stamps, free medical care at the emergency room

You have the opportunity to become a teacher, cop, firemen, mother theresa


BUT there is only one way to join the elite ruling class....be born in it or marry it.

Communism, Capitalism, Socialism....-isms don't matter they are equally vulnerable to corruption by nepotism.

caerus's picture

the true story next week imho will be the farce that is the "super duper" committee...they are already preparing a plan "b" and further delay of any decisions that mean anything of import to the supposedly free citizens of this country...the requisite cuts will not be made...decisions of any import will be delayed..and the sad charade will continue...the debt burden will grow and u.s. ratings will be cut...

"although the official deadline is midnight wednesday, the committee is legally barred from voting on any plan that was not made public at least 48 hours in advance."

deficit panel gridlocks as deadline nears

time has run out...these are not supermen nor superwomen...these are hardly citizens...

StychoKiller's picture

Gad, I hate being right about US Govt gridlock! :>(

Freddie's picture

What gridlock? Obama, GE, Soros, et al are looting the Treasury.  GE is making tens of billions in net income with their shit company that is a huge debt pig.  I support business but small and smaller businesses.  These mega crony capitalist companies are just like facist Italy under Mussolini.

Sadly the OWS people generally hate capitalism while the conservatives, which I am one, do not realize the mega corprations are by and large - shit.  This includes Apple which the lefties love.

I loathe John Stewart but the lady reporter on his show nailed it.  The f**ktard hipster refused to give up his brand new iPad with the others in the lower class section of Zucotti Park. The AH supported "personal property" not "private property!!!"  WTF does that mean?  Where did he learn nonsense like that? Harvard? NY Times?

In weatching the video - the smug wealthier Ivy League OWS marxists were far more evil than the poorer clueless lazy OWS crowd.  The Ivy League "aristocrats" which one of the poorer OWS group call them - wanted to have meetinsg are rule over everyone.  They were all f***ing ideal drone marxist bureaucrats for the Kenyan Muslim's Administration.  

riley martini's picture

 Before fascism took over the market loved grid-lock , now the (market) is dependent on the next bailout or bribe induced liquidity.

boiltherich's picture

Ah another episode of "AS THE EURO TURNS."

Buck Johnson's picture

As the Euro turns down the toilet bowl.

Gordon Freeman's picture

Summers, like all the doomsayers, you are dead wrong.  OF COURSE, THE ECB WILL PRINT, YOU MORON!  AND GERMANY WON"T SAY A WORD!

Do you honestly think that Germany would PREFER to see its economy DIE along with the rest of Europe, based on some hypothetical scruples about hyperinflation??  Do ANY of these people strike you as being in any way principled??

Europe will take the same gamble as the US: fix the problem with the printing press, and worry about the consequences later.  Result: equity rally, commodity rally, Asian rally, etc, and everyone gets re-elected.  All resulting inflation will be disguised: that's what the US and China do, and Europe wil do it, too.  They're just waiting for 1) the point of maximum pain 2) that all "concerned parties" have their bets placed in the desired direction, for maximum profit.

Plus c'a change...

buyingsterling's picture

All of this has one consistent element: Even if the unravelling has been anticipated for years, the speed with which things are now happening seems to be exceeding most peoples' expectations.

catch edge ghost's picture

I hate this fucker's posts.

High Plains Drifter's picture

what if germany stays in the eu and the ecb prints anyway?  what then?   weimer?  so what?   its not about what the germans want. gads....

masterinchancery's picture

Hyperinflation kills, while it is destroying the middle class, as more than 30 examples show.

SirPlayomic's picture

Switzerland was smart enough, since it didn't adopt the Euro or even join the EU.


dolly madison's picture

Yes, Switzerland is awesome.  They also have the most participatory democracy of any western nation.  They have a constitutional amendment that forbids their soldiers to fight on foreign soil.  All able bodied men are trained to fight and given a rifle to take home in case they need to use it to defend their country.  They also have banking secrecy, which may irk other countries, but I think it is a good thing.  Secrecy of the individual and transparency of the government is the optimal way.  Switzerland is worth copying IMHO.

New_Meat's picture

dolly, banking secrecy in the past tense.  - Ned

theprofromdover's picture

Germany wil 'never' walk, until Sarko finally admits how much France needs to stay afloat.

Anglea will be soooo surprised.

High Plains Drifter's picture

i have been hearing this kind of stuff for years.............i know its coming but when......but when........

Diogenes's picture

When you least expect it. That is, long after you get tired of anticipating it and go look at something else.

I've been waiting since 1971. Does anyone remember Robert Ringer? How about Harry Browne? I liked calling his followers the Harry Browne people, it made them sound like a bunch of Rastas.

technovelist's picture

I remember Harry Browne. In fact, I met him and did some work for him in the 1970's, and was sad to hear of his death a few years ago.

Uchtdorf's picture

In 1971 my father was reading the same material and predicted a crash in 72-73. The can kicking has been going on a long time.

Landrew's picture

There was a crash! Are you re-writing history? People were wiped out, Nixon left the gold standard! People all over the world were wiped out in the bond/equity crashes! Read some fracking history!

High Plains Drifter's picture

the biggest mistake anyone makes is to underestimate the cleverness and the resourcefullness of the jewish money lenders..........

Sabremesh's picture

The systemic crash didn't happen in the seventies, but gold increased in value by over 2,000% during that decade. Just sayin'.

Bollixed's picture

"So if you have not already taken steps to prepare for systemic failure, you NEED to do so NOW. We're literally at most a few months, and very likely just a few weeks from Europe's banks imploding."

So ask yourself...Has this guy Summers ever been wrong?

Zero Govt's picture

"It also means stockpiling some food and water"


I've got 2 bags of popcorn and a 4x pack of Red Bull... will that do?

...anything more and i'll pop down the shops if that's ok Mr 'Bunker Batty' Summers

Haddock's picture

Hasn't this entire 'article' been cut and paste from Tyler posts?

Am I missing the joke?

butchee's picture

You are correct about this "contributor".  No value added, cut and paste hack.

JamesBond's picture

similar to george washington

willien1derland's picture

So referring to Graham Summer's options & we assume Germany remains & begrudgingly allows the ECB to inflate the Euro - would the Euro truly devalue 30-40%? What occurs within the Foreign Exchange risk worldwide?

When you consider the other Central Banks who are also engaged in inflation; BoE, BoJ, U.S. Fed, SNB - then you have the PBoC who have invested quite a bit in Euros at much higher values - Negative real interest rates would abound & the race to the bottom becomes a bit contentious, no?

What about commodity prices? If the U.S. Fed QE2 program was truly responsible for the inflation of soft commodity prices which attributed to 'Arab Spring' what happens when most developed nation's Central Banks invoke the printing press solution?

Do all Commodity, Equity, & Futures market around the world modify their quoting systems to accept scientific notation?

max2205's picture

I love this shit

rambler6421's picture

Print baby Print.  Gold and silver to the ROOF!



Sudden Debt's picture

PM's will keep their current value, all the rest will fall off a cliff.

StychoKiller's picture

Same difference -- Au/Ag becomes more valuable!