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The Operatic Grandeur Of "More Europe"

Tyler Durden's picture




 

Via Mark J. Grant, authoer of Out of the Box,

Europe is becoming quite strange. The World is becoming quite strange. A politician gets up and speaks and says nothing, no one listens to what he said, then he is roundly congratulated for his bold words that were heard by no one and then everyone disagrees with what they think he might have said. The Continent seems to be in a dream-state where the worse it gets; the better it is because the ECB will be drawn in and provide liquidity like the ever-after will provide Redemption. I am not sure America is any better actually. In the United States we admit we are printing money while in Europe they “print and deny” but the outcome is about the same.
 
It is a weird economic scene these days, a Dali landscape that is melting, when worse is better and our leaders intone the old magic; “the higher, the fewer; the never, the less.” I expect, any day, that the ECB will buy all of the sovereign debt of Europe and declare each nation “debt free and without risk.” It will be a gigantic do-over where the ECB is to be re-capitalized by odd aliens that we have not yet met. Greece falls and falls again and the EU demands a plan, which is given, and we herald their actions for yet one more plan that will never be implemented and “God Save the Queen.” Portugal falls and Ireland falls and Spain drafts a new plan, as directed, so that they can get more money and the markets rejoice because it is one more scheme that has all of the chance of implementation of the Tudors taking the Spanish throne.
 
On the other hand I suppose it is because we cannot invest money off-world either so that we are stuck within the boundaries of what is available and something must be done with the paper printed by all of the Central Banks but it is getting increasingly difficult to make much sense of it. I sometimes feel, with the announcement of each piece of bad economic news as the markets rally, that it means that the Divinity is coming, disguised as a Central Bank, and that we should all close our eyes and partake of the ecstasy of the Saints as we and they receive Stigmata. I must be unclean and unwashed and not worthy as I have received none of blessings bestowed upon the sanctified believers. I watch, I wonder, I gape in fact and ponder just when reality will intrude back into our make-believe state of existence.
 
"’Tis but a Midsummer Nights Dream"
 
                              -William Shakespeare
 
Three Card Monti
 
You knew it would come to this! I smiled, all alone in my oak paneled office, I smiled and was delighted that it was finally put into writing. The German Chancellor had sung the tune from the rafters; belted out “More Europe” and it is a catchy tune designed for the entire Opera House of the Continent. She has formed the Aria into melodious tones and captured the hearts of her audience until they believed and fell into the Rapture that it was “Money for Nothing” and that the German’s and their bed fellows would provide it whenever asked all in the name of the national anthem which she had so wonderfully performed.
 
Monti had approached the altar and was received into the flock.
 
The first move made in the newest version of Three Card Monti is Mr. Monti’s “The European Central Bank should not impose extra economic conditions on nations using its bond-buying mechanism and the International Monetary Fund shouldn’t have an oversight role.” This sleight of hand may be translated into English as “We do not want to be audited either by the IMF or by the ECB; we do not need any foreigners looking at our books because that would be a disaster. We should be given the money for free which is the transformational theme of the Aria sung by Ms. Merkel entitled ‘More Europe.”
 
“Countries such as Italy and Spain are reluctant to request the bond-buying they championed because of uncertainty about what conditions the Central Bank would seek to impose,” said Mr. Monti as he moved the next shell ahead of the last one. The English definition here is that “We do not want conditions. We do not want anyone telling us how to behave. We do not want the Troika in Rome or Madrid. We just want the money that you have told us that you would give us when we want it. We love the German Chancellor’s rendition of ‘More Europe’ but we do not wish to pay for hearing it. You told us about the Opera but you never said we would have to purchase tickets for the performance.”
 
Oversight should be limited to establishing checks so the countries behave in a positive way,” Mr. Monti said in a recent interview. This may be translated into the formalized checks such as “How was lunch? Was the fettuccini cooked properly? Everything going ok? Need any more money  today or can we wait until tomorrow?” The very incorrect Italian translation would be, “You must reduce your deficit. The austerity measures that you agreed to must be actually implemented. You cannot give government jobs to family members. Our money is not your money and has to be repaid regardless of how loudly and often you sing ‘More Europe’ on the steps of the Vatican.”
 
So Here We Are
 
Good is bad. Bad is wonderful. “More Europe” was written in Babylon and no one can understand the meaning. Economic and fiscal reality is a thing of the past as the world’s Central Banks will provide manna, sustenance and well-being. It is not just the ECB but the markets that are “unlimited and uncapped” and the conditions, there are always conditions I assert, while ignored for the moment, have a funny way of rounding the corner and saying “Hello” just when you don’t expect them. This is where we are as we round the corner. This is where we are going I predict. Good will become good and bad will become bad once more
 

You may say, “It ain’t so” but I say that it is.

 

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Fri, 09/28/2012 - 08:43 | 2838101 GetZeeGold
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That's why the Pilgrims left for America.......they had enough of more of that crap.

 

Seems like it was just yesterday....but it wasn't.

Fri, 09/28/2012 - 09:33 | 2838380 Mysteerious Roo...
Mysteerious Rooshian Vooman's picture

 

 

Fail. The Puritans were driven out of England because they were horrible, odiouis people. So they settled in New England, where they have continued to this day making a career of being yet more horrible and yet more odious. Think "Banned in Boston." Think Unitarianism. Think Universalism. Think Christian Science. Think silly moral crusades. Think Romneycare. Hell, think Romney. THink Political Correctness. Think Making Christmas illegal. Think Witch Trials.

Pilgrims?? Bah! Pigs!

 

 

Fri, 09/28/2012 - 08:24 | 2838111 Zadok
Zadok's picture

Kind of like a Strong Delusion.

Fri, 09/28/2012 - 08:24 | 2838113 JPM Hater001
JPM Hater001's picture

"You may say, “It ain’t so” but I say that it is."

I have become quite fond of telling people, "Your belief is not required for the system to collapse."

Game on

Fri, 09/28/2012 - 08:27 | 2838114 RSloane
RSloane's picture

"....the ECB is to be recapitalized by odd aliens we haven't yet met." - That is an appropriate euphemism for the US Fed.

Fri, 09/28/2012 - 08:30 | 2838118 livid levity
livid levity's picture

The state of humanity...summed up in :43 seconds

https://www.youtube.com/watch?v=W9t5ZqeHcYk

Fri, 09/28/2012 - 08:27 | 2838124 Peter K
Peter K's picture

What you need to understand is that for all the Eurolanders, English is their second language... including the Irish. :)

Fri, 09/28/2012 - 08:28 | 2838128 disabledvet
disabledvet's picture

Yet another absolutely stupid missive.

Fri, 09/28/2012 - 08:31 | 2838135 GetZeeGold
GetZeeGold's picture

 

 

Can't walk five steps before running into a critic.

 

Fri, 09/28/2012 - 08:32 | 2838140 livid levity
livid levity's picture

...ignorant, blind and delusional critics are my fav's

Fri, 09/28/2012 - 09:35 | 2838386 SafelyGraze
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GetZeeGold says "Can't walk five steps before running into a critic."

*two* steps. not five.

get it right.

Fri, 09/28/2012 - 09:04 | 2838256 Vincent Vega
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Log out of Zero Hedge and log on to Huffington Post. You'll be loved.

Fri, 09/28/2012 - 08:35 | 2838153 q99x2
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world’s Central Banks will provide manna, sustenance and well-being

That's what I've been trying to tell you guys. The Rothschilds and Rockefellers are giving out free money and if you are an American there is no longer a need to work unless you like doing that kind of thing.

I missed the housing bubble thing because I was busy fighting with my last wife during our marriage but this one I've got it going on like Donky Kong.


Fri, 09/28/2012 - 08:36 | 2838154 mvsjcl
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I'll rejoice at the "Chicks for Free" stage.

Fri, 09/28/2012 - 08:54 | 2838165 Mercury
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A politician gets up and speaks and says nothing, no one listens to what he said, then he is roundly congratulated for his bold words that were heard by no one and then everyone disagrees with what they think he might have said.

 

...and then there's a fabulous (free) luncheon for all the assembled Eurocrats, some mistress fondling and...well, that's a full day's work right there.

You can see why the decision makers would want to preserve this state of affairs at all costs.

Fri, 09/28/2012 - 08:44 | 2838180 PUD
PUD's picture

Obama gunna by ma cell phone!

Fri, 09/28/2012 - 08:55 | 2838218 wonderatitall
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i blame bush...lets ask a democrat "voter" ...or a obama official....bush bush bush...lets just end this blue state dictatorship and start the war we need...maybe europe will get some balls too

Fri, 09/28/2012 - 09:11 | 2838219 bshirley1968
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".....because they received not the love of the truth, that they might be saved.  And for this cause God shall send them strong delusion, that they should believe a lie: that they all might be damned who believed not the truth, but had pleasure in unrighteousness."

II Thess. 2:10-12

Enough said.

Fri, 09/28/2012 - 09:35 | 2838388 Mysteerious Roo...
Mysteerious Rooshian Vooman's picture

 

 

"Render evil to those who spy on me; in your faithfulness, destroy them."

Psalm 54: 5.

 

Fri, 09/28/2012 - 09:43 | 2838440 Zadok
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Please verify reference address.

Fri, 09/28/2012 - 09:06 | 2838271 RunningMan
RunningMan's picture

I am left thinking "so what?" after reading this piece.  I felt, in October of 2008, that a sequence of events was put in motion that would run its course over the next 4-5 years. Bank failures, socio-economic unrest, markets at price to books below one, potentially war... I've been mostly wrong, even if the elements were mostly right. Suspending accounting rules, printing money, something called QE, twist, all have masked the severity of the crisis, without ever actually fixing anything. Europe seemed doomed... two years ago. Yet here we are, in this bizarre holding pattern. And in July/August of this year, everything went quiet again. No work. I've confirmed with many sources that this pattern is playing out, and feels very similar to 2008. So what is it this time? Fiscal cliff? Elections around the world? Europe? War in middle east? What?

Sadly, I think we are destined to suffer for the next two decades because no one wanted to suffer for five years. So what happens next?

Fri, 09/28/2012 - 09:43 | 2838437 illyia
illyia's picture

The banksters are hung by their balls on the lamp posts (outside their homes). Their physical property is removed/resold/trashed. Their money is junk and their accounts are left unmolested. No one wants their "money". Their "top shelf" liquor is a tradable asset.

JIT delivery fails. Kids have no idea what a pencil is for and still don't care, but they rediscover intimate human interaction - while building a better web... New methods of electronic communication are invented. Electricity becomes local.

Neighborhoods trash regulation and buy windmills/solar/biofuels/make community gardens/form watch-groups (they are armed). Oil is impossibly expensive. Better methods are pursued.

Corp/gov locks up as many as they can and tax and fine as much as they can, but they can't. Riots ensue.

Things go regional/tribal. Gold is still traded as a store of value anywhere on earth. Holding gold, if it becomes known, becomes a life-threatening activity. Next most stolen are still electronics of AAPL character. Liquor and cigarettes (and pot) are increasingly expensive and a good business if done securely. Batteries are blackmarketed.

Fri, 09/28/2012 - 09:46 | 2838457 Crisismode
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16 more years?

Fri, 09/28/2012 - 10:01 | 2838539 Zadok
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Luke 21:20 ?

Fri, 09/28/2012 - 09:16 | 2838309 orangegeek
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Love it.  The noose is getting tighter for Europe.  Europeans still see the US as their colony.

 

A outright financial collapse of Europe should put an end to this socialist utopia garbage.

Fri, 09/28/2012 - 09:37 | 2838401 Mysteerious Roo...
Mysteerious Rooshian Vooman's picture

 

 

"'Tis a consummation devoutly to be wish'd."

--Hamlet

 

Fri, 09/28/2012 - 10:25 | 2838681 nofluer
nofluer's picture

Alice's Adventures in Blunderland... Staring Greece as the Mad Hatter, Spain as the Rabbit, the IMF as the Cheshire Cat, Individual National Soveriegnty is auditioning for the role of Vorpal Blade custodian, and with Merkle, DEAR Merkle, as Alice.

Casting is not complete. Parts remaining and parts looking for more suitable actors for parts already cast include the Red Queen (No one seems willing to shout "Off with their Debt"!), and the White Queen (likewise no one seems willing to simper, Oh... but what can we do?)

Casting needs to progress with alacrity as the production is already on stage and will not be coherent unless all parts can be filled.

Fri, 09/28/2012 - 10:49 | 2838824 falak pema
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You make Europe sound like ROmney and Obammy debating; but I may be jumping the gun! 

Fri, 09/28/2012 - 11:30 | 2839032 Grand Supercycle
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IMPENDING SELL OFF ..........

Longs please be careful.

Due to recent central bank intervention and short covering spikes, these daily charts are extremely overextended and significant correction expected very soon:

SPX, DOW, NASDAQ, NZDUSD, GBPUSD, AUDUSD, COPPER, CRUDE, GOLD, SILVER. [USD strength will return]

http://www.zerohedge.com/news/2012-12-24/market-analysis

http://trader618.com

Do NOT follow this link or you will be banned from the site!