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Spain Promises Much, Does Little And Will Tap Social Security Reserves For Funding

Tyler Durden's picture


Lots of headlines but little action. Germany will not be pleased:


The kickers:


In other words everything will be massively wrong for the country with the epic bank run. And the one the people have been waiting for:


Incidentally this is the same fund which has 9 months of pension reserves and is invested in... drumroll... Spanish Bonds!

And cue to the riotcam.


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Thu, 09/27/2012 - 11:36 | 2835535 Lost Wages
Lost Wages's picture

They're just going to dip into pension reserves. Just dip their toe in. Just a little dippity dip. Nothing to worry about.

Thu, 09/27/2012 - 11:39 | 2835547 Fluffybunny
Fluffybunny's picture

Dipping into pension reserves just means they have a couple more weeks for them to try and find a solution and come up with nothing.

Thu, 09/27/2012 - 11:40 | 2835554 Lost Wages
Lost Wages's picture

And then they will dip again to buy some more time... then another little dip. Because resistance is futile and they will be assimilated.

Thu, 09/27/2012 - 11:55 | 2835598 Debtonation
Debtonation's picture

So, does this mean they are going to sell their SS bond IOUs and replace them with bonds backed by bonds?  Like and IOU squared? This is getting interesting!

Thu, 09/27/2012 - 12:10 | 2835649 i-dog
i-dog's picture

A repeat post (I thought it was worth it!):

The sooner that the European nation states and the US sovereign states secede from their respective central politburos, the sooner we can take control of the collapse and the direction that the Ordo ab Chao aftermath takes.

Otherwise, the globalists dictate the fall and the terms of an unconscionable aftermath.

Fri, 09/28/2012 - 14:35 | 2839660 Kobe Beef
Kobe Beef's picture


Thu, 09/27/2012 - 11:56 | 2835608 Sofa King
Sofa King's picture

Looks like they are playing the "Just the Tip" game and it will feel good, they'll go all in and more social security.  Coming sure to a country near you...

Thu, 09/27/2012 - 11:58 | 2835618 seek
seek's picture

Spain is soo slow... The US did the tapping SS for cash years ago!

Thu, 09/27/2012 - 12:08 | 2835639 SMG
SMG's picture

They say the Devil's water it ain't so sweet
You don't have to drink right now
But you can dip your feet
Every once in a little while

-  When you were young - Killers

Thu, 09/27/2012 - 12:10 | 2835647 Killtruck
Killtruck's picture

That reminds me of a game I used to play called "Just the Tip".

Thu, 09/27/2012 - 12:12 | 2835660 WhiteHose
WhiteHose's picture


Thu, 09/27/2012 - 12:42 | 2835785 youngman
youngman's picture

So how many kids do you have now????

Thu, 09/27/2012 - 12:45 | 2835745 CPL
CPL's picture

If they put their toe in the financial Whirlpool of doom, the best they can hope is losing a leg.


I have it on good authority from 1950's Sci-fi adventure serials that what happens near whirlpools and quicksand.

Thu, 09/27/2012 - 12:39 | 2835777 oleander garch
oleander garch's picture

If this wasn't Spain, they would call it "Simpson-Bowles."  A banker-politician panacea for the rent collectors. 

Thu, 09/27/2012 - 12:41 | 2835780 aint no fortuna...
aint no fortunate son's picture

And US markets explode on more promises of puppy dog kisses (Reuters)

Thu, 09/27/2012 - 12:36 | 2835763 Dre4dwolf
Dre4dwolf's picture

Definition Politics:

The process of delaying a problem until it is no longer relevant.


Pensions, SS are going to vapoirze, I expect all of spain (every citizen) with debt to essentially default over-night, its pretty much the end of spain, they lost the monopoly game that they were playing with the other euro nations and got wiped out.... bad roll of the dice.


Government is probably going to be replaced/revolution because when you take the savings of your entire population and give them nothing for it back, they usually get pissed off and do something about it.


Thu, 09/27/2012 - 11:44 | 2835566 Big Swinging Richard
Big Swinging Richard's picture

That's nothing.  Just wait till Timahy and Uncle Ben start raiding the G-fund and SS here in the states once we back up next to the debt ceiling.  

Thu, 09/27/2012 - 12:11 | 2835657 CommunityStandard
CommunityStandard's picture

Already been raided.  Now we just add 0's to the treasury accounts.

Thu, 09/27/2012 - 11:48 | 2835580 slaughterer
slaughterer's picture

My message to Spain (Spanish language version):

Thu, 09/27/2012 - 11:54 | 2835603 tekhneek
tekhneek's picture

I can't see anything wrong with buying your own bonds, much less Spanish bonds!

Nothing to see here... Cue the recovery!

Thu, 09/27/2012 - 12:04 | 2835627 Debtonation
Debtonation's picture

This is like monetizing your own debt without actually printing money.  Genius!

Thu, 09/27/2012 - 12:16 | 2835674 donsluck
donsluck's picture

Printed money? How last milleneum!

Thu, 09/27/2012 - 12:08 | 2835640 FL_Conservative
FL_Conservative's picture

Apparently this "fixed" the EUR, as the EUR/USD just swallowed the little blue pill.

Thu, 09/27/2012 - 12:10 | 2835648 WhiteHose
WhiteHose's picture


Thu, 09/27/2012 - 13:10 | 2835906 j0nx
j0nx's picture

Just the tip baby, just the tip.

Thu, 09/27/2012 - 11:35 | 2835536 Cassandra Syndrome
Cassandra Syndrome's picture

Siesta time, bitchez!

Thu, 09/27/2012 - 11:37 | 2835539 mick68
mick68's picture

With it this bad and Germany still holding the party line, I know for certain tey have a gun to their head by the EU masters. No more wondering if the EU "Is meant to fail," for if it was, they have 101 excuses to do so right now.

Thu, 09/27/2012 - 11:37 | 2835541 kaiserhoff
kaiserhoff's picture

Sure, raid the kid's piggy bank.  That solves everything.  $20.00 on Sea Biscuit in the third race...

Thu, 09/27/2012 - 11:53 | 2835600 pods
pods's picture

With Spiderman riding him he is a lock!


Thu, 09/27/2012 - 11:40 | 2835542 hedgeless_horseman
hedgeless_horseman's picture




Why not even more laws to bolster the economy that much more? 

These "Law-Makers" are such pussies! 

Thu, 09/27/2012 - 12:11 | 2835650 Saro
Saro's picture




All fixed!

Thu, 09/27/2012 - 12:28 | 2835738 HaroldWang
HaroldWang's picture

Amazing how the same old shit gets recycled, repackaged and the market acts like it's never heard of such possibilities. This is the greatest magic act of all time - market goes down, just rehash the same nonsense and presto! up she goes!

Thu, 09/27/2012 - 12:36 | 2835761 MsCreant
MsCreant's picture

Must be easy to put on a magic show for autistic children...or maybe retarded ones...

Thu, 09/27/2012 - 12:50 | 2835820 CrashisOptimistic
CrashisOptimistic's picture

You will come to understand it only when you fully embrace the reality that the world you grew up in doesn't exist anymore.  There is no market.  There is only computers, and they read headlines.

The headline phrasing is PROVIDED to the EU and they are careful to use it as specified in their announcements.  Then you get the "market" reaction desired.

It's all bullshit.  Walk away from it.  Find a farm.  The whole thing is going to fall.  No, don't try to "short" it.  Don't buy gold.  The whole thing is going to fall.  Farmland is the only hope.

Thu, 09/27/2012 - 13:39 | 2836021 TNTARG
TNTARG's picture

I'm placing into the markets the derivates of tickets' entrance to my farm in Patagonia. Goldman Sachs is negotiating it with great success. I'm thinking about QEasing ing ing tickets also. Ah! Long live to the finantial casino! Everything can be "collateralized" and "QEasingnized"! Many times! (By the way: the ones you have the original tickets don't have to worry: I've hired BlackWater to watch over the farm).

Thu, 09/27/2012 - 13:41 | 2836038 Induced Coma
Induced Coma's picture

You, Sir - are on point. Sooner people wake up to this reality the better. Actually - time is short - if you're someone who hasnt got this by now - you are fecked.



Fri, 09/28/2012 - 14:41 | 2839693 Kobe Beef
Kobe Beef's picture

 buy Microsecond Arbitrage.


Thu, 09/27/2012 - 11:37 | 2835543 Meesohaawnee
Meesohaawnee's picture

que a AAPL ramp. distraction bitchez

Thu, 09/27/2012 - 11:57 | 2835611 LULZBank
LULZBank's picture

This is how it says on BBC!

Among the key points presented by Deputy Prime Minister Soraya Saenz de Santamaria were:

  • a 12% average cut in ministerial spending
  • a freeze in public sector pay for the third consecutive year
  • a new independent authority to monitor government finances
  • an increase in pensions funded by drawing on 3bn euros of reserves


An increase in pensions??? Positive rite?!

Thu, 09/27/2012 - 13:54 | 2836082 Tijuana Donkey Show
Tijuana Donkey Show's picture

End of quarter coming up, and you can't have the hedgies coming up short of fees with their biggest hotel. Gotta get my 2 and 20 bitches! Oct 1 is tooooooo late. 

Thu, 09/27/2012 - 11:37 | 2835544 libertus
libertus's picture

The end game is upon us. The same shit will happen in the States when the FED is forced to raid the "SS Trust Fund" (there is nothing was raided long ago.) The reaction of the people to this will tell us a lot about the strength of the revolts in Europe. If they don't hang some banksters and political whores it is full speed a head with the depression and collapse. 

Thu, 09/27/2012 - 11:43 | 2835563 john39
john39's picture

yeah, but 401k's must look mighty appetizing to the beast....

Thu, 09/27/2012 - 12:51 | 2835821 Whiner
Whiner's picture

These last EU generations have been coddled and raised by The State, "They is ruint! I'm telling you!" they can't work and never learned to pray. Coming to a town near you, Citizen.

Thu, 09/27/2012 - 13:18 | 2835937 j0nx
j0nx's picture

Same thing here in the states. Welfare is more profitable than working at the local grocery and thugging is more fun than being pious and having honor. In fact it is and has been pretty much federally funded open season on Christianity here for the last decade. Anyone not invested in ammo and firearms at this point hasn't been paying attention for the past decade. It will get bad when the state economies start to drop like flies.

Thu, 09/27/2012 - 11:38 | 2835545 Nothing To See Here
Nothing To See Here's picture

Of course, every economics PhD on the planet knows that you create economic prosperity by writing laws, not by producing more! Paul Krugman must be of Spanish ancestry.

Thu, 09/27/2012 - 11:46 | 2835573 youngman
youngman's picture

Actually Spain has some assinine labor laws....I am assuming that these new laws are to lesson those....but probably not....

Thu, 09/27/2012 - 12:09 | 2835646 Nothing To See Here
Nothing To See Here's picture

If you really want to lessen the regulatory burden of the labor market, you repudiate laws, you don't make new ones... just sayin...

Thu, 09/27/2012 - 12:27 | 2835734 CrashisOptimistic
CrashisOptimistic's picture

Oil scarcity won't permit you to produce more.


Please, folks, find a way to get to a farm.  I know how hard it is to reject the presumption that the internet is the path to riches, but it simply is not in the New Normal.

A lot of people are going to die, soon, and your only hope is to have access to and be welcome at a farm.

Thu, 09/27/2012 - 17:06 | 2836770 Bananamerican
Bananamerican's picture

yeah, buy a farm before you buy the fucking farm!....y'allz

Thu, 09/27/2012 - 11:38 | 2835549 Dr. Richard Head
Dr. Richard Head's picture

Thanksfully ZH framed the message that the looting is targeting the benefits that Spainiards CONTRIBUTED TO and not entitlements.  Think of what will happen with the gray hairs in the US seeing the looting of THEIR FORCED CONTRIBUTIONS.  Lies, damned lies of the politic.  Promises that can never be kept. 

Thu, 09/27/2012 - 12:17 | 2835678 Zadok
Zadok's picture

I sure would like to see that! Change the smug arrogance of entitlement for some fear of reality regarding what has already been done! Let alone what is happening now and in the future. Good luck!

Thu, 09/27/2012 - 11:39 | 2835550 Dr. Engali
Dr. Engali's picture

43 new laws to bolster economy?WTF? Hey fucknuts maybe it's the thousands of laws you have in place killing the economy. Fucking morons.

Thu, 09/27/2012 - 11:48 | 2835583 Everybodys All ...
Everybodys All American's picture

What would you expect from the Spanish socialist that have run their country in to the ground? The same thing is going on here in the US. For instance: Obama wants to hire more teachers. That's great except the state or tax payer has to hire them. Not to mention the real reason is that he can give the teachers unions the pay back for their support.

 Spain is our future America unless we choose a different pathway and it's not Forward.

Thu, 09/27/2012 - 12:17 | 2835677 CommunityStandard
CommunityStandard's picture

Except the US was one step "ahead" in dipping into the SS fund and flushing money down the toilet investing in energy efficient cars.  We would be worse than Spain if we didn't have the ability to print (although that will cause its own problems) and reserve currency status.

Thu, 09/27/2012 - 13:21 | 2835957 TNTARG
TNTARG's picture

Excuse me, pal, but taking THAT for Socialism is driving you into absolute ignorance about both Politics and Economics. Then the Show goes on and you 're out of tickets.

Thu, 09/27/2012 - 12:09 | 2835644 LULZBank
LULZBank's picture

Be positive and think of the ways to trade these new laws and all the derivatives based on those!

Thu, 09/27/2012 - 12:45 | 2835800 RSloane
RSloane's picture

Do you remember Madame Defarge from "A Tale of Two Cities"? This is Defarge in reverse. They will continue with their pointless stitching and busywork while they watch their citizens hung, one at a time, by the laws they created.

Thu, 09/27/2012 - 11:40 | 2835551 Meesohaawnee
Meesohaawnee's picture

give the spaniards credit. At least they publically announce austarity. Here we call it "stimulative QE' which is essentially austarity and a bailout disguised to the I-sheep as being good

Thu, 09/27/2012 - 12:51 | 2835819 RSloane
RSloane's picture

The "shared sacrifice" to be shared by everyone except by those who created the disaster to begin with. This is what austerity truly is. Its the protection of the privileged classes by the sacrifice of the workers who did absolutely nothing wrong except exist.

Thu, 09/27/2012 - 13:21 | 2835956 j0nx
j0nx's picture

Because the people continue to allow it.

Thu, 09/27/2012 - 11:42 | 2835553 dwdollar
dwdollar's picture


Because 42 plus the thousands already on the books just ain't enough.


Thu, 09/27/2012 - 11:42 | 2835558 LongSoupLine
LongSoupLine's picture

Tap SS to fund...


Textbook Geithner fucktard economics

Thu, 09/27/2012 - 11:59 | 2835620 MsCreant
MsCreant's picture

When a guy says "I'd tap that" doesn't it mean he would screw it? Just askin'.

Thu, 09/27/2012 - 12:03 | 2835630 aheady
aheady's picture

I think of kegs of Guinness.

Thu, 09/27/2012 - 12:13 | 2835665 RSBriggs
RSBriggs's picture

I think of Kim Kardashien.

Thu, 09/27/2012 - 17:11 | 2836780 Bananamerican
Bananamerican's picture

fair enough, i think about Barney Fife

Thu, 09/27/2012 - 12:15 | 2835670 WhiteHose
WhiteHose's picture

OMG! this is hilarious today!!! One can only laugh! I spit my coffee all over my screen thx to you MsCreant! lmao!

Thu, 09/27/2012 - 12:46 | 2835803 falak pema
falak pema's picture

Its all a question of prospection. 

Taps, and screws, depend on the promise of the vein, if it throbs it robs you of your pipe drain. 

Thu, 09/27/2012 - 11:42 | 2835559 ebworthen
ebworthen's picture

That's right, stealing from the future again to pay bankers in the present.


Thu, 09/27/2012 - 14:03 | 2836120 Tijuana Donkey Show
Tijuana Donkey Show's picture

From the Matrix - "It's not the currency that bends, it's you....."

Thu, 09/27/2012 - 11:43 | 2835564 Schmuck Raker
Schmuck Raker's picture

Chupa mi pinga, Bernanke!

Thu, 09/27/2012 - 11:44 | 2835567 mccoyspace
mccoyspace's picture

Hey, that's my plan too. I'm using AAPL profits to buy some more AAPL shares.

Thu, 09/27/2012 - 11:46 | 2835576 Yikes
Yikes's picture
  •  ---
  • They've gone full retard. 

     Austerity baby!

    Thu, 09/27/2012 - 11:47 | 2835578 PUD
    PUD's picture

    Law #42..all dumpsters will be double locked and guarded by dogs

    Thu, 09/27/2012 - 11:48 | 2835581 blabam
    blabam's picture


    Moar laywers!

    Thu, 09/27/2012 - 12:38 | 2835768 falak pema
    falak pema's picture

    the only criterium is : anti-banksta or pro-banksta laws; knowing their oligarchy creed its a given that it will just feed the turncoat lawyer breed. 

    Thu, 09/27/2012 - 11:48 | 2835582 stuckonarock
    stuckonarock's picture

    spain needs to order some hollow nosed bullets for its chorizo vendors, things are going to get very spicy there :-)


    Thu, 09/27/2012 - 11:49 | 2835584 semperfi
    semperfi's picture

    "Spain Promises Much, Does Little"

    People have become so accustomed to being lied to and *ss-raped that they need some serious motivation to be woken up out of their stupor, such as, may I propose: every time a person is lied to, that they are poked in the bunghole with a red hot poker. 

    Thu, 09/27/2012 - 12:18 | 2835686 Real Estate Geek
    Real Estate Geek's picture

    Great idea!!!

    I think your avatar is hott!

    Thu, 09/27/2012 - 12:19 | 2835693 pods
    pods's picture

    Well at least that would cauterize the tears from the latest round of QE?


    Thu, 09/27/2012 - 11:49 | 2835585 youngman
    youngman's picture

    Welll...the markets are still GREEN.....weeeeeeeeeee...DOW up 17 really is incredible that any market is up today....but they all are.....WTF...

    Thu, 09/27/2012 - 11:49 | 2835586 tuttisaluti
    tuttisaluti's picture

    Where is the reset button?

    Thu, 09/27/2012 - 11:54 | 2835604 MsCreant
    MsCreant's picture

    I've been hitting this one. It's a fake too.

    Thu, 09/27/2012 - 13:44 | 2836048 Zwelgje
    Zwelgje's picture

    The reset button is Hillary Clintons clit.

    That's why nothing changes.


    Thu, 09/27/2012 - 11:51 | 2835594 GolfHatesMe
    GolfHatesMe's picture

    IOUs are just as good as cash!

    Thu, 09/27/2012 - 21:50 | 2837409 StychoKiller
    StychoKiller's picture

    Harry and Lloyd seemed to think so...

    Thu, 09/27/2012 - 11:52 | 2835595 stuckonarock
    stuckonarock's picture

    does anyone on here think there is any possibility of a happy ending to the current endgame?  

    if not, is this really really the beginning of the trumpets playing?

    im scared   ish

    Thu, 09/27/2012 - 11:53 | 2835602 MsCreant
    MsCreant's picture

    This sort of looks like a circle jerk. Can you have one if no one actually has a real dick to hold?

    Thu, 09/27/2012 - 12:17 | 2835680 WhiteHose
    WhiteHose's picture

    OMG!!!!! lmfao!!!! I needed that today!!!

    Thu, 09/27/2012 - 13:58 | 2836096 formadesika3
    formadesika3's picture

    Said something like that to a big boss once. In retrospect, it was not helpful. He was restrained by another boss. Excepting for that, I might have had a little fun on what otherwise proved itself to be a very bad day.

    Thu, 09/27/2012 - 11:56 | 2835607 Dr. Richard Head
    Dr. Richard Head's picture

    Off topic, but something very interesting about the attacks in Libya.

    It is really interesting to me to watch the news reports coming out of Fox, CNN, MSNBC, AP, Reuters, etc (every single news organization) reporting that the US ambassador to Libya was killed in Benghazi when the ONLY US embassy or consulate in Libya is over 400 miles away on the other side of the Gulf of Sirte, in Tripoli.

    Thu, 09/27/2012 - 12:01 | 2835624 stuckonarock
    stuckonarock's picture

    its also not listed on the USA Gov website as an agency!

    they must think everyone is stupud

    Thu, 09/27/2012 - 22:45 | 2837501 StychoKiller
    StychoKiller's picture

    Well, it would open a bigger can of worms if they called it a CIA safe-house...

    Thu, 09/27/2012 - 11:57 | 2835613 Kaiser Sousa
    Kaiser Sousa's picture

    ring around the roses

    a pocket full of euro"ses



    and they all fall DOWN!!!!!!!!!!

    Thu, 09/27/2012 - 12:09 | 2835643 Winston Churchill
    Winston Churchill's picture

    The pox to your euro.

    Thu, 09/27/2012 - 12:15 | 2835671 NEOSERF
    NEOSERF's picture

    Rings in your noses, a yolk on your shoulders, ashes, ashes, it all burns down!

    Thu, 09/27/2012 - 12:03 | 2835628 q99x2
    q99x2's picture

    There goes their mother's perscription drug medication money -- off to the banksters.

    Thu, 09/27/2012 - 12:06 | 2835633 falak pema
    falak pema's picture

    OT/  Sex and the university major


    Here is a table of the sexually active heirarchy of US university grads; by type of subject.

    One depressing statistic; the "green ecology" subject has the lowest hit rate; lower than theology!

    The environmentalists don't have a bright future in our age, even as students! 

    Which subject's students have the most sex?|

    Thu, 09/27/2012 - 12:12 | 2835662 Winston Churchill
    Winston Churchill's picture

    The economics students getting more bangs for their buck.

    No wonder they are all morons.

    RRRRRR just had a vision of a naked Krugman.

    Thu, 09/27/2012 - 12:31 | 2835746 falak pema
    falak pema's picture

    spoken like a true engineer.

    Thu, 09/27/2012 - 13:12 | 2835917 formadesika3
    formadesika3's picture

    If I'm reading it correctly, results will be skewed toward those majors which have higher degree completion rates. Earth Sciences near th bottom. Field season gets lonely.

    Thu, 09/27/2012 - 12:07 | 2835637 Kaiser Sousa
    Kaiser Sousa's picture

    and the dow rockets higher...


    Thu, 09/27/2012 - 12:13 | 2835664 gjp
    gjp's picture

    Spain is tapping their reserves!  Quick buy more AAPL and AMZN!  Guess they'll be using the proceeds of austerity to buy iPads and shop online ...

    Thu, 09/27/2012 - 12:07 | 2835638 Zadok
    Zadok's picture

    Que Riot Dog!

    Thu, 09/27/2012 - 12:11 | 2835653 PUD
    PUD's picture

    At least Spain has a budget...can't say that about the US

    Thu, 09/27/2012 - 12:11 | 2835655 boiltherich
    boiltherich's picture

    If fixing the economy were as simple as passing a bunch of laws you have to wonder why they did not do that a long time ago; could it because these laws will greatly upset the citizens? 

    Thu, 09/27/2012 - 12:13 | 2835658 franzpick
    franzpick's picture

    PMs and equities on a tear here for last 15 minutes: have I missed the news?

    Thu, 09/27/2012 - 12:12 | 2835659 NEOSERF
    NEOSERF's picture

    Argentina here we come...seriously, this stupid market seems to simply value anyone speaking, doesn't matter what they say.  I am really starting to believe that civil war or a strike on Iran would be looked at positively as "doing something" to avert a worse problem...Dow 20, heard it here first

    Thu, 09/27/2012 - 12:15 | 2835672 RSBriggs
    RSBriggs's picture

    Civil war - Bullish for ammo, S&W and Sturm Ruger!

    Strike on Iran - Bullish for GE and other defense contractors!

    It's all good!  /sarc

    Thu, 09/27/2012 - 12:14 | 2835666 NEOSERF
    NEOSERF's picture

    In the US since there are no SS reserves (just IOUs) it starts to make you wonder if we can leave IOUs for other IOUs...I promise to pay you so you can promise to pay someone else...that would open up another era of prosperity.

    Thu, 09/27/2012 - 12:28 | 2835687 RSBriggs
    RSBriggs's picture

    Why there's an entirely new derivative industry right there.  IOU on IOU backed securities!!  iBS ! The FED would likely buy billions of them each month!  Hey - Lend me some money so I can get this started.  I'll owe it to you...

    Thu, 09/27/2012 - 12:20 | 2835700 Zadok
    Zadok's picture

    IOU rehypothecation! Derivatives for IOU's!

    Thu, 09/27/2012 - 12:18 | 2835681 NEOSERF
    NEOSERF's picture a nanny-state when the gov says they are going into your retirement funds two things should be evident to the populace...things are really bad and you better get into the street before you have nothing but smoke

    Thu, 09/27/2012 - 12:19 | 2835692 NEOSERF
    NEOSERF's picture

    Queue the ratings agencies...they will have to take Germany and France down based on their proposed committment to the ESM, and the inability of Spain and Italy to pay further raising the other's committments...this is just getting silly

    Thu, 09/27/2012 - 12:21 | 2835702 Dareconomics
    Dareconomics's picture

    This is just more Eurotalk. Until you see laws being passed and money changes hands, ignore it. The Germans are stalling, because they are tiring of throwing money down a black hole:

    Thu, 09/27/2012 - 12:26 | 2835722 Inthemix96
    Inthemix96's picture

    For the NSA and other assorted acrynm agencies watching ZH today.

    There is going to be a day, and in my opinion it is right here on top of us when you and your pals pop along to the shop and buy a paper and read a headline saying that:-

    Politician (bankster?) has been found either shot dead, or hanged from a tree.

    At that point, you will have to choose a side.

    Prepare accordingly gentlemen.  History this time will be dictated by those on the internet, the awareness is too great.

    Thu, 09/27/2012 - 13:26 | 2835775 RSBriggs
    RSBriggs's picture

    Somewhere deep in the bowels of a building in Ft. Meade, Md, right this minute, there are a bunch of NSA analysists having a good laugh at your expense and pulling up your facebook pages, twitter account,  your google search history, your bank account balance, your credit history, your cell phone calling history, what you had for lunch yesterday, and your latest colonoscopy video .

    And see that little spec circling around your house waaaaaay up there in the sky? That's called a drone....


    Thu, 09/27/2012 - 13:52 | 2836075 Zwelgje
    Zwelgje's picture

    so what.

    let them eat shit.

    Thu, 09/27/2012 - 14:53 | 2836295 Inthemix96
    Inthemix96's picture

    That right RSBriggs?

    Unlike dimwits like yourself, I am on one posting internet site which is this one son.  I have no other contact at all with the interweb servers.  I have never unlike you stupid ones posted any details of my life other than those I wish to divulge here, nor card numbers or any other inane shit.

    And to top it off, if you caught new yorks finest last month shooting indescriminatly at civilians instead of the bloke they should have shot, I have fuck all to worry about.  Send your drones and your back up men.  You fucking imbecile.  RSBriggs, the epitomy of narrow thought and imagination.


    Thu, 09/27/2012 - 12:27 | 2835725 RSloane
    RSloane's picture

    This is so wrong, on a social, economic, and moral level. There was absolutely no pledge to the citizens of Spain and no alleviation of fear and hunger that come with long-term unemployment. So I guess the plan for the people is to stake your claim at a dumpster outside of a restaurant that only fatcats can afford and gather up leftovers for yourself and your family. Investments in the Spanish labor force will be redefined as not eating all of the leftovers yourself, willingness to go hungry even more then selling a few scraps here and there to your neighbors.

    Thu, 09/27/2012 - 13:13 | 2835750 RSBriggs
    RSBriggs's picture

    One day soon all those EBT cards in the US won't work, and the result will be such that protests in Spain will look like a quiet picnic in a park somewhere.  All major cities will start burning a few days later - we burn shit down here, for real, once things start rolling...

    Of course this does nothing for the actual Spanish people.  The globalists motto - screw those little people.  We need bigger multi-million dollar bonuses!  What does that have to do with people eating?   Nothing!  So fuck 'em.

    Thu, 09/27/2012 - 12:30 | 2835741 Yen Cross
    Yen Cross's picture

     What we are seeing today is every f..king "underperforming"fund manager, buying every f..king thing they can before Q3 ends!

      So as to save their worthless "underperforming"asses!

    Thu, 09/27/2012 - 12:53 | 2835829 Village Smithy
    Village Smithy's picture

    Look a little closer and you'll see all the Fed's "friends" fading this WTF rally.

    Thu, 09/27/2012 - 12:56 | 2835838 Yen Cross
    Yen Cross's picture

     Yep. Good call Smithy.;-)

    Thu, 09/27/2012 - 12:52 | 2835830 Mitch Comestein
    Mitch Comestein's picture

    So, they are going to sell their own previsouly issued bonds to fund themselves.  Whoa, I am getting confused here.  I wonder if my mortgage lender would let me sell my mortgage back to him again.

    Thu, 09/27/2012 - 13:23 | 2835934 RSBriggs
    RSBriggs's picture

    No, he's already reversed it and done that to you.  Chopped your mortgage up into MBS securities, sold them to the Fed, which lets you pay for it all over again via taxes and inflation.  Sold it to you once, and you get to pay for it twice. 

    Actually... Iif you multiply out your payments to get your loan's total payback amount, then look at your supposed purchase price, you'll find out that he's sold it to you 5 or 6 times over already....

    Thu, 09/27/2012 - 12:53 | 2835831 XRAYD
    XRAYD's picture

     Man, can you see the Spaniards lining up to buy them lectric cars - as soon as they finish dining on their new "bargain" wages?

     And how the F* does buying cars made in Italy, Germany, France .. and yes US ... help Spain's job picture?

    And the banks are gonna lend people money they don't have to finance these cars?

    Thu, 09/27/2012 - 13:05 | 2835879 The Reich
    The Reich's picture

    Nobody expects the Spanish Inquisition!

    Thu, 09/27/2012 - 13:40 | 2836026 bugs_
    bugs_'s picture

    hard to believe they haven't already tapped (STOLEN) the pension money.

    oh - it looks like the pension is invested in spanish bonds so realistically the money has already been tapped (STOLEN).

    this is similar to the US social security being invested (STOLEN) in special non-marketable government debt.

    good luck spanish retirees - but you'll have a lot of company around the world.

    Thu, 09/27/2012 - 14:03 | 2836113 Floodmaster
    Floodmaster's picture

    Europe’s $39 Trillion Pension black hole is coming ... Young Spaniard, Portuguese, French, Italian etc should seek work and hope for the future abroad

    Thu, 09/27/2012 - 14:09 | 2836150 Troncom
    Troncom's picture

    Robert Maxwell tried this and we all know what happened to him

    Thu, 09/27/2012 - 14:54 | 2836298 mendigo
    mendigo's picture

    didn't us raid the ss reserves long ago?
    isn't ss reserves an obsolete concept?
    at this point assets exist only so they can be leveraged...repeatedly.

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