• Sprott Money
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While France Simmers In Its Own Juices, Germany Frets

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Tue, 09/27/2011 - 08:24 | 1714360 ZeroPoint
ZeroPoint's picture

Didn't France just make it a crime to buy gold & silver in cash? So much for fraternité....

Tue, 09/27/2011 - 08:10 | 1714322 Florida Joe
Florida Joe's picture

Popo

 

Well said.

You articulated what is on every thinking citizen's mind, no matter the country.  

Tue, 09/27/2011 - 07:24 | 1714198 PulauHantu29
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German turmoil over EU bail-outs as top judge calls for referendum Germany's top judge has issued a blunt warning that no further fiscal powers may be surrendered to Europe without a new constitution and a popular referendum, vastly complicating plans to boost the EU's rescue machinery to €2 trillion (£1.7 trillion). http://www.telegraph.co.uk/finance/finan...

Tue, 09/27/2011 - 07:14 | 1714172 yabs
yabs's picture

when will be get a real leader whbo does not prostitute him/herself and has the balls to stand up to these clowns?

Tue, 09/27/2011 - 07:11 | 1714168 yabs
yabs's picture

excellent popo

well said indeed

the politicains we havbe now are not leaders but merely prositutes for the banks

Indeed they are not even as high as a prosititute

They are GIMPS for the banks

MERKEL, SARKOZY, BROWN, BLAIR, GEITNER, OBAMA should ALL be hung for TREASON

Tue, 09/27/2011 - 07:09 | 1714163 phi-in-the-sky
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"Aren't French politicians and finance gurus concerned that the debt crisis might also impact France? Shouldn't that be discussed publicly, as behooves a democracy? Apparently not. Perhaps the government imposed a rule to avoid getting its citizenry all riled up—a Gallic version of the Denkverbot (prohibition to think) that Merkel and Timothy Geithner wanted to impose on the political scene in Germany, but failed."

 

France heavily subsidizes its medias, newspapers, etc, all in the interest of keeping them "independent". The state owns France 2, France 3, France 4, France 5, France 24, etc, etc. They can criticise all they want the small stuff and the president's personal lifestyle, but when it comes to debates that really matter, the only time slots available are from 10pm till midnight. Hardly anyone watching...

Move right along, nothing to see here. Everything is under control.

Tue, 09/27/2011 - 08:47 | 1714444 Bicycle Repairman
Bicycle Repairman's picture

The revolution will not be televised.

Tue, 09/27/2011 - 06:52 | 1714123 dcb
dcb's picture

Better if she had said, we are not doing this for the greeks, we are doing it for our bankers. Or "It not about bailing out people in distress, but banks and corporations". the list could be endless

Tue, 09/27/2011 - 06:47 | 1714111 GCT
GCT's picture

Talk is cheap when the German supreme court last night basically shut Merkel down funding or leveraging more German money.  Basically it must be a constitutional change and be put to a vote of the German people.  The supremes in Germany just drew the line in the sand.  Mish does have a good write up about it.

Tue, 09/27/2011 - 04:20 | 1714013 The Big Ching-aso
The Big Ching-aso's picture

All this is turning into a systemic planet-wide chronic condition of The People vs The Banks.   

The flawed yet nonetheless symbiotic relationship between the two is deteriorating at an accelerated pace.    Historically such adversarial relationships which involve money can only end one way if they don't resolve their major differences: first, localized hostilities, then war, as in global war.

Everybody better get their collective shit together here real soon.    Because it's guaranteed someone's big trigger finger is starting to twitch.

 

Tue, 09/27/2011 - 06:43 | 1714105 Joshua Falken
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As ZH pointed out for us, John Hussman said (see http://hussmanfunds.com/wmc/wmc110905.htm) the global economy is at a crossroad that demands a decision – whom will our leaders defend?

  One choice is to defend bondholders – existing owners of mismanaged banks, unserviceable peripheral European debt, and lenders who misallocated capital

The alternative is to defend the public by reducing of unserviceable debt burdens, restructuring mortgages and let mismanaged financial institutional share and bond holders take losses or transfer of ownership and recapitalization to better stewards.

SO WILL OBAMA AND MERKOZY DO THE RIGHT THING BY THE PEOPLE AND PRESS RESET TO WIPE BILLIONS OFF BANK BALANCE SHEETS? OR WILL THEY KEEP THEIR PAYMASTERS IN GIN AND TONIC?

 

 

 

Tue, 09/27/2011 - 08:45 | 1714438 Bicycle Repairman
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I find the lack of positive action stunning.  Will the rich keep their "gin and tonic" while enslaving everyone else, or will they give up a fraction of their wealth and income and get the world functioning again?

Tue, 09/27/2011 - 03:58 | 1713996 supermaxedout
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Well said new Popo.

This all can be achieved and done once the atomic bombs and rocket heads still stored in great amounts are removed from  Germany.

The Germans do not have the fear that Russia or China or Iran is starting a war with Germany and its direct neighbours are also no threat. But there are plenty of such defensive  weapons in Germany while nobody wants them here. This must say something to you.

If you would make a poll in Germany whether to remove these giant genocide machines (nuclear weapons) from the German soil you would receive a 99% vote for the removal. For sure. 

But since this means nothing such a poll will never take place in Germany. So how can you ecpect that Germany is free to do or express its opinion in other matters of some importance, such as its economic and political future..  Winne the Pooh. Think, Think, Think

Tue, 09/27/2011 - 04:46 | 1714020 anonnn
anonnn's picture

Popo and Supermaxedout--if only yr posts are translated and pass thru Merkel's frightened coterie, who failed to protect her from George Buffoon's shoulder-rub outrage.

Tue, 09/27/2011 - 02:42 | 1713925 chump666
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That is why France will get a credit down grade if it does 20% or 30% of that bailout fund.  With Germany close to going into a recession...

Greece will 100% get booted out one way or another...

Also Merkel is done = EU is going to sink. This is the pain trade and they keep delaying and delaying, it will hit like a freight train.

3 days of rallies, then the sell is on end week/early next week.

Tue, 09/27/2011 - 04:13 | 1714008 TK7936
TK7936's picture

The Euro can only go with political will. And there is none. Its here to stay. Nomatter how down it goes.

Tue, 09/27/2011 - 03:00 | 1713942 Barb Dwire
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I love all the talking heads crowing about this is the big rebound. We're going up to resistance and then down we go. We're still in a downtrend - the worst is yet to come.

Tue, 09/27/2011 - 02:21 | 1713911 PhoThus
PhoThus's picture

The U.S. needs a guy like Bill Black again resolving all the mess.

Tue, 09/27/2011 - 02:53 | 1713931 HardlyZero
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Yes, Bill Black would be the man, if the laws were to be followed. 

I fear instead this is a lawless operation with collusion if not direct governing involvement. 

That is why there have and will probably be no court proceedings...lawless all the way.

Next, we will watch this fiasco devolve into hell...one state...one country...one government...at a time.

Mon, 09/26/2011 - 23:54 | 1713781 trampstamp
trampstamp's picture

And we go into over time!

Tue, 09/27/2011 - 06:31 | 1714091 max2205
max2205's picture

S&P soon to be muzzeled (bought by )AIG

Tue, 09/27/2011 - 02:28 | 1713917 Barb Dwire
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Won't somebody please just kill this pig?

Tue, 09/27/2011 - 02:42 | 1713915 Popo
Popo's picture

"We're not doing this for the Greeks, but for us," said Chancellor Angela Merkel

 

No Angela. You're doing this for your banks.  And yes,  the people need banks -- but they don't need these specific banks.   And the German people don't need bank management to survive intact,  with their past 10 years of bonuses preserved,  and walking around free and unimprisoned.

Nor do the German people need shareholders in Deutchebank to be preserved.   And they don't need to hand over their sovereignty to Brussels either.

What the German people need is a leader who recognizes the CAUSE of the problem -- and not only finds solutions,  but eradicates the cause forever -- enacting laws which prevent banks from creating dangerous leverage,  protecting the system from greed-induced risk,   severely punishing those who brought Germany to her knees and insuring that the current scenario never repeats itself.

And that, Angela -- is a job for a stronger person:  A person who isn't afraid of clawing back bonuses, houses, jets and years of fraudulently generated wealth.   A person who isn't afraid of wiping out shareholders.  A person who isn't afraid of impoverishing an extremely dangerous, parasitic elite few who operate above the law and who have endangered their people and their nation -- and who now represent a direct, existential threat to German sovereignty.

This isn't about a financial crisis.  It's about your national survival.   You still don't get it, Angela.   (And that alone, would be bad enough).

But the truth is far worse than that:  you're preparing to perpetuate the problem at a greater scale -- facilitating the neo-serfdom of the German people, and entrenching the very usurpers who have stolen Germany from under your people's feet.

If you succeed in facilitating this financial and political coup, you should hang.

Tue, 09/27/2011 - 08:13 | 1714325 Florida Joe
Florida Joe's picture

 

Popo

Well said.

You articulate what is on every citizen's mind, regardless of their nationality.

Tue, 09/27/2011 - 07:33 | 1714220 blueridgeviews
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Popo, you could replace the word Angela Mekel in your paragraph with the word Barack Obama and it would be just as poignant for the situation in America.  Makes me think these heads of countries are just pawns of the banks or some rich folk. The rumblings of discontent are getting louder.

Tue, 09/27/2011 - 03:13 | 1713956 Shylockracy
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Hear! Hear! Very well said!

Tue, 09/27/2011 - 02:59 | 1713939 aleph0
aleph0's picture

Excellent Summary - Thankyou !

Tue, 09/27/2011 - 02:54 | 1713933 russki standart
russki standart's picture

Well said, Popo. Angela is just another stinking globalist swine, a cheap whore paid off to ruin her country. Hopefully, before she is finished, she must be destroyed politically. What Germany needs is the final solution for her domestic criminal  political and bankster class.

Tue, 09/27/2011 - 02:47 | 1713927 Sambo
Sambo's picture

An old dream is dying....people bought into this system and therefore they are also equally responsible. You cannot blame only the politicians. The people voted for these blood suckers backed by banksters.

Tue, 09/27/2011 - 08:37 | 1714414 Bicycle Repairman
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As a citizen who was handed this system, a system that ignored my input, I accept zero blame.  Exactly none.

Tue, 09/27/2011 - 07:00 | 1714142 rcintc
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It's Over Johnny!  It's OVER!!

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