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Spain Begs Former Colonies For Bailout

Tyler Durden's picture


Irony of ironies. While the world awaits the Spanish request for 'help' from its friends in Europe (which the market 'hopes' will escalate to EUR740bn very rapidly), it seems the King of Spain and his trusty Prime Minister have another cunning 'inverse-conquistador' plan. AP reports that "Spain receives Latin American investment with open arms," as Rajoy asks the former LatAm colonies to help. Falling back on the assured quid pro quo, Rajoy said Spain had invested heavily in Latin America during its crisis 10 years ago... so fair's fair right? Now that the roles were reversed, he called upon those nations to increase their participation in his struggling empire's economy. The perfect irony is complete as the Iberoamerican Summit at which he was begging speaking was held in Cadiz - the country's main gateway for importing Aztec and Inca treasure!


Via AP:

CADIZ, Spain (AP) — Spain's prime minister on Saturday joined its king in asking former Latin American colonies to help the EU nation overcome a deep financial crisis by channeling investments its way.


Prime Minister Mariano Rajoy said Spain had invested heavily in Latin America when it suffered a crisis 10 years ago, and now that the roles were reversed, he called upon those nations to increase their participation in his country's economy.


"Spain receives Latin American investment with open arms," he said.


Rajoy was speaking at the Iberoamerican summit being held in Spain's southwestern port of Cadiz, once the country's gateway for importing Aztec and Inca treasure.


King Juan Carlos made the same plea Friday, saying "our eyes turn to you, we need more Latin America."


He added that Spain had "seen difficult situations emerge caused by the financial and economic crisis."




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Sat, 11/17/2012 - 17:47 | 2992293 fonzannoon
fonzannoon's picture

Didn't Argentina or someone just Corzine Spain on YPF? Now they are all good?

Sat, 11/17/2012 - 17:49 | 2992297 Michaelwiseguy
Michaelwiseguy's picture

Just repudiate on your national debt Spain and shut the fuck up. You'll be a lot better off.

Sat, 11/17/2012 - 18:05 | 2992320 falak pema
falak pema's picture

it would bring down WS banksta cabal and western world; so think again.

Sat, 11/17/2012 - 18:17 | 2992342 Michaelwiseguy
Michaelwiseguy's picture

Beagles are stupid. I rather have a Labrador.

Sat, 11/17/2012 - 18:31 | 2992366 knukles
knukles's picture

I'd rather a funny dog than Karl Rove

Sat, 11/17/2012 - 18:34 | 2992376 Michaelwiseguy
Michaelwiseguy's picture

Beagles are Better Than Rove and are OK to have, but don't expect to be able to teach them to bring you your shoes.

Sat, 11/17/2012 - 18:46 | 2992399 no taste
no taste's picture

Did Karl teach you to fetch his shoes?

Sat, 11/17/2012 - 19:02 | 2992432 Michaelwiseguy
Michaelwiseguy's picture

How do you explain this thing I did to destroy Rove and his minions?

Alex Jones Caller Ron Paul Revenge Voters For Obama 11/09/2012

For Pure Unadul­ter­at­ed Re­venge. That's all this is about.

Sat, 11/17/2012 - 20:19 | 2992568 no taste
no taste's picture

Those interested Michael's stupid puppetry will find more of it lower on the page.  

Sun, 11/18/2012 - 09:06 | 2993336 thewhitelion
thewhitelion's picture

As you've figured by now, you get no love on ZH for dissin' beagles.  Who knew?

Sat, 11/17/2012 - 18:37 | 2992382 no taste
no taste's picture

Outing sock puppets like Michael is fun and easy.  They rush to defend stupid Karl Rove.  Smashing on Karl is more fun, though.

Knukles, I agree, but then I'd rather have a stinky dog than have Karl Rove.

Sat, 11/17/2012 - 18:40 | 2992387 Michaelwiseguy
Michaelwiseguy's picture

What is a sock puppet? I don't know the definition of that terminology.

Sat, 11/17/2012 - 18:46 | 2992396 falak pema
falak pema's picture

ur the "wiseguy" u should know<;...sockpuppet is an online identity used for purposes of deception. The term—a reference to the manipulation of a simple hand puppet made from a ...

Sat, 11/17/2012 - 18:56 | 2992422 Michaelwiseguy
Michaelwiseguy's picture

Well in that case, I'm the exact opposite. I say things like Israel and Mossad did 9/11, along with operatives in our own government. And I give links. What's sock puppidy about that?

DAVID WILCOCK with DRAKE Interview 29March2012


Sat, 11/17/2012 - 19:00 | 2992431 no taste
no taste's picture

Your character has existed for 36 days, and you write stupid shit.  Not that I bothered to watch your video link.

9/11 was a Dick Cheney production.

Sat, 11/17/2012 - 19:05 | 2992438 Michaelwiseguy
Michaelwiseguy's picture

I did say "operatives in our own government" and you agreed with me. At least we can both agree on something.

Sat, 11/17/2012 - 19:09 | 2992445 no taste
no taste's picture

That is nice.

Can we both agree that Karl Rove is a big stinky failure?  Sort of like a pile of dogshit, but stinkier.

Sat, 11/17/2012 - 19:17 | 2992462 Michaelwiseguy
Michaelwiseguy's picture

This was part of my campaign against Rove. At leas I actually did something to hurt him and was successful.

Alex Jones Caller Ron Paul Revenge Voters For Obama 11/09/2012

For Pure Unadul­ter­at­ed Re­venge. That's all this is about.

Sat, 11/17/2012 - 19:31 | 2992486 no taste
no taste's picture

Let's not focus on trying to get those people who don't like Obama to not like Ron Paul because Obama was re-elected.  The Republicans lost the election because Karl Rove screwed up, in part by selecting Mitt Romney.

Let's stick with Karl Rove.  Is Karl Rove a failure?  A big stinky mess of runny dogshit failure?

Sat, 11/17/2012 - 19:40 | 2992502 Michaelwiseguy
Michaelwiseguy's picture

I already thought about this. It's not possible for the General Public to find out what a large majority of the Paul Crew did to Rove, Mitt Romney, GOP & Co. It's an internet thing only. Corporate TV will never mention RP Revenge voters. Their MO is ignore anything Ron Paul.

No need to worry about that. The Ron Paul Crew is an army in the shadows and I want it to stay that way for now.

Sat, 11/17/2012 - 20:08 | 2992551 no taste
no taste's picture

Ok, you don't want to answer the question about Karl Rove being a complete and utter failure, but you do want to divert attention from Karl Rove's failure to Ron Paul.  

I'll look forward to your sock puppetry on another day or perhaps you will be retired and a new sock puppet inserted in your place.

BTW, your Christmas bonus is going to suck.

Sun, 11/18/2012 - 02:58 | 2993177 imbtween
imbtween's picture

ah dont thank he wants to antsir yer questchin.

Sun, 11/18/2012 - 05:00 | 2993221 Michaelwiseguy
Michaelwiseguy's picture

Karl Rove really thinks to himself, he and he alone manufactures reality. I say let KR manufacture the answer to that question.

Karl Rove's car wrapped in Saran Wrap at White House video, (wait a few seconds, it will load).

Sun, 11/18/2012 - 03:00 | 2993180 imbtween
imbtween's picture

lol - how many pieces of silver are you getting? Will you Judas when you get busted?

And here I thought they were planting smart people. Stupid me.

Sat, 11/17/2012 - 18:56 | 2992423 FeralSerf
FeralSerf's picture

I'd rather watch Karl Rove being waterboarded on national TV than have a dog.

Sat, 11/17/2012 - 18:19 | 2992345 falak pema
falak pema's picture

If you remember watergate and the smear scandal tactics used by the Nixon machine against Mcgovern and consorts; there was a USC team of smear artists that the film "All the King's men" highlighted who were precursors to Karl Rove in their character destruction techniques. Rove of course took it to another level, including in his strategy the Superpac donation rollercoaster. 

...A man who had a house near where I lived at the time had big Nixon-Agnew signs stuck in his lawn. When I tried to engage him on the topic, he told me that, as people tend to do in elections, a vote for his candidate was a vote to save America and a vote for the other guy was a vote to destroy America. I've never thought any election quite came down to that but '72 seemed particularly overhyped in that manner....

Shades of recent GOP and GWB campaigns...that was 1972. 

Sat, 11/17/2012 - 18:29 | 2992362 Michaelwiseguy
Michaelwiseguy's picture

I usually just scream at people like that; You're a Psychological Terrorist.

Sat, 11/17/2012 - 18:32 | 2992368 knukles
knukles's picture

Yeah, out to destroy America.  Me on the other hand are here to save it.
I got that down pat.

Sat, 11/17/2012 - 21:33 | 2992381 Michaelwiseguy
Michaelwiseguy's picture

I also call people who scream Racist, Terrorist right back at them, and vise versa. It only works using those two words.

Agenda 21 is Psychological Brainwashing Terrorism!

Sat, 11/17/2012 - 18:52 | 2992415 bank guy in Brussels
bank guy in Brussels's picture

Watergate is another fake 'story' whose true facts Americans don't know. Watergate was another US coup, less bloody than the JFK killing in 1963. The supposed 'hero', Washington Post's Bob Woodward - still selling lies and propaganda today - is a fraud and fake as 'brave reporter', working for the military and CIA.

In the late 1960s Bob Woodward was in the US Navy working for Naval Intelligence under Admiral Thomas Moorer. In 1970 Admiral Moorer became head of the US Joint Chiefs of Staff - head of the whole US military - and Woodward left the US Navy to become a planted Washington Post 'reporter'. -

Also in 1970, Admiral Moorer started running a spy ring against the Nixon White House, with the US military thinking Nixon and Kissinger were getting 'soft on Communists' etc. Navy Yeoman Charles Redford stole many White House documents and so on for the joint chiefs, US Admiral Elmo Zumwalt getting some of the documents.

The spy ring - US military against the White House - was discovered at the end of 1971. But just like with the military 'business plot' planned coup in the 1930s against US President Franklin Roosevelt, exposed by US Marine General Smedley Butler ('War is a Racket'), and Roosevelt's agreement not to prosecute the American elite (including grand-pappy Bush) ... Nixon agreed to cover-up the military spy ring.

Likely fearing to end up dead like JFK, Nixon always feared to publicly denounce it for the rest of his life, tho did not deny it.

Despite Nixon's agreement to shut up and not prosecute, the military remained unhappy, along with the American elite, who wanted Nixon out  ... Nixon, for all his flaws, had come to the same conclusions as Jack Kennedy ... in other words, make some peace with the commies, and try to build a better life for Americans ... Amazingly, Nixon even tried to give everyone in the US European-style health insurance (his 'CHIP' programme - much better than Obamacare.)

So Watergate was magnified into a scandal for a coup, the Washington Post brave 'reporters' Woodward and Bernstein - with Woodward still loyal to his old boss Admiral Moorer ... they took Nixon down.

A major ally was the manipulative John Dean, Nixon's lawyer in the White House, working his own angles, and betraying Nixon to the coup plotters, and made a 'media darling' from among the Nixon gang, tho Dean maybe was the worst snake among the bunch.

And ever since, Bob Woodward's fake Washington Post - John Dean version of the Watergate 'story' has dominated. ... and the truth still basically squashed today, by the dominant media framework ... Nearly everybody believes Watergate was some kind of pro-populist 'exposé'.

A lot of the Watergate facts has come out from investigators Len Colodny and Robert Gettlin, a book 'Silent Coup' ... more detail on a website associated with them

Sat, 11/17/2012 - 19:47 | 2992501 falak pema
falak pema's picture

if you could be as convincing as this in making a case for the Euro, I'd be buying Yens tomorrow. 

Nixon there you are hiding under his bed! 

Not only did he bomb Nam he bombed Cambodia. But Kissinger convinced him on playing pong with Mao. And we know how that turned out. He was the MIC blue eyed boy since his early days and only let them "down" when K showed him a way out of that sterile shooting match, all the while he also ensured the Oil patch thru "shuttle diplomacy".

You give little credit to N-K teamwork in ME in the midst of a major oil paradigm shift, post BW revoke. Take a deep breath and open your eyes beyond spook stories. And...Tricky Dicky loved playing smear games and Watergate was typical "bug and tug the rug" down his alley. It smells 100% tricky Dicky, in second term hopium and hubris.

Sun, 11/18/2012 - 10:47 | 2993425 Omen IV
Omen IV's picture

Daniel Segretti ! master of dirty tricks

Sat, 11/17/2012 - 18:22 | 2992333 TruthInSunshine
TruthInSunshine's picture

I've said 2 things for approximately 15 months, consistently:


1)  There is no "saving" the European Union in any manner that will allow it to even remotely resemble what it did prior to 2008. It's not possible, because the fundamental defect that was buried deeply within its articles of incorporation, that previously lay hidden & largely ignored, has now been exposed for all the world to see, and it's now not possible to remedy this fatal flaw given that those who would have to sacrifice to do so know the approximate cost of doing so.

2)  We have entered an era of global economic contraction that will rival, and potentially be far greater than (due to a far more leveraged financial system that is a malignant cancer, and a far more interwoven/interconnected/symbiotic economic world), that which we experienced in the 1930s. The fact that so many have been seemingly oblivious to this fact for this long is primarily due to the insane fractional reserve monetary policy, massive deficit spending and massive debt monetization (which is reaching its end stage due to structural limits) that has been engaged in by so many developed economies (and many emerging ones) since 2008.


Just a year ago, most people who I discussed these two premises with dismissed them as either unduly gloomy and/or worst case scenarios that would only only play out in such a manner if "those in charge" erred badly.

Now, at least a large plurality if not majority of those persons believe that these two general premises are either a fait accompli or extremely likely, even if not for the exact same reasons that I do.

Sat, 11/17/2012 - 18:27 | 2992348 Michaelwiseguy
Michaelwiseguy's picture

I've been saying for many years what I articulate as; The next depression will make the Great Depression look like a picnic. The only thing we can do about this is kill our owners.

In other news;

Palestinians shoot down Israeli F-16 fighter jet in Gaza: Hamas
Sun, 11/18/2012 - 04:33 | 2993226 Amagnonx
Amagnonx's picture

Spain, and everyone else  -time to just stop paying the pricks for capital they printed, and taxes they steal.  Time to kill off the parasites.

Sat, 11/17/2012 - 17:50 | 2992301 q99x2
q99x2's picture

And, they shall receive biologically treated blankets to meet their requests.

Sat, 11/17/2012 - 18:07 | 2992324 max2205
max2205's picture

More cowbell

Sat, 11/17/2012 - 18:08 | 2992325 fuu
fuu's picture

Spiderflu towels.

Sat, 11/17/2012 - 18:27 | 2992359 Dugald
Dugald's picture

Toxic Food coupons......

there fixed it!

Sat, 11/17/2012 - 17:57 | 2992303 Urban Redneck
Urban Redneck's picture

Is Spain willing to accept the same IMF austerity and all the other terms imposed as conditions upon the former colonies when they were seeking support?

Sat, 11/17/2012 - 19:03 | 2992436 bank guy in Brussels
bank guy in Brussels's picture

Yes, it is absolutely friggin' absurd for Europe to beg anyone for money. We have a totally screwed up system with the euro and it's all mis-allocated among the european quadrants here ... but we are in fact rich as hell

- We have no trade deficit, we grow food, we have industry, we are self-sufficient once Russian energy is included

- Even SPAIN itself has started to have a positive current account balance the last few months!

- We have 3x the bank deposits of the USA, despite similar size economy (about 1/4 of global GDP)

- We owe the money to ourselves, not foreign creditors, we can play games with the debt and write it off if we must

- We still have a functioning legal system that protects human rights, with almost no one in jail in Continental Europe, and no crooked judges like in the US helping steal billions in private bank accounts and putting millions of people in a gulag

- We have the biggest gold reserves in the world (unless of course it's not there in the NY Fed, big 'if')

- Our North-West Continental Europe is still the nicest place to live on the entire planet

Rajoy is being a devious weasel for his German masters ... especially ugly in light of the Spanish colonial history

The various ZH commenters are right in agreeing with Ambrose Evans-Pritchard ... Rajoy should call their bluff and tell the EU gang he is ready to leave the euro, right now

Sat, 11/17/2012 - 17:55 | 2992305 americanspirit
americanspirit's picture

If I recall my history approximately 50 million New World Indians had been killed either by sword, fire or disease in the first 100 years of Spanish conquest. So good luck Spain. But hey, that does bring up a point. Maybe the US should ask its Native American population for some assistance in paying off the national debt, seeing as how we've given them all that land to live on rent-free for the past hundred years or so. Come on Red Brothers - time to step up and help out your Great White Father. Y'all are doin' OK with all them casinos and all. Why not just cut a check - make it out to US Treasury.

Say What?

Sat, 11/17/2012 - 19:10 | 2992449 rodocostarica
rodocostarica's picture

Some big pow wow in Spain this weekend with the Central Amrican Presidentes visiting and getting well fed at the Palace.  Our presidenta (first woman pres here)  I do not believe is going to be offering any support buying bonds or investing in Espana.

the Spaniards fucked up all these countires with their culture of corruption and slavery. Best of luck Mr. King of Spain getting anything from us.

PS I work in tourism and Spaniards DO NOT TIP!! They are the sleazball tourists of the world. Zionists from Isreal are trying to take over that title though. FUCK SPAIN AND FUCK ZIONISTS

Sat, 11/17/2012 - 19:24 | 2992479 insanelysane
insanelysane's picture

My favorite topic as Northern Europeans settled North America because they wanted a new place to live and embraced the land yet these people are villified as the Spanish get a pass.  Spain and Portugal raped the land of its wealth and sent it all back home.  The indigenous people were forced just as harshly if not more harshly than those in the north.

Looks like they are coming back for more.

Sat, 11/17/2012 - 18:00 | 2992312 magpie
magpie's picture

They have been there in the Civil War.

Sat, 11/17/2012 - 18:04 | 2992317 falak pema
falak pema's picture

Its like Potus  asking Japan for aid. That should please Kyle Bass.

Sat, 11/17/2012 - 18:08 | 2992328 debtor of last ...
debtor of last resort's picture

Rise against Brussels mr. Rajoy, and your Venezuelan oil for gold's a deal.

Sat, 11/17/2012 - 18:16 | 2992340 Dr Benway
Dr Benway's picture

Gold flows between countries as their fortunes rise and fall. Spain still got some gold left to sell? Maybe SA can get back some of that Inca loot belatedly.

Sat, 11/17/2012 - 18:24 | 2992351 Atomizer
Atomizer's picture

Colony – Help me bitchez

Sat, 11/17/2012 - 18:26 | 2992357 magpie
magpie's picture

Dead souls might have more apt lyrics

Sat, 11/17/2012 - 18:36 | 2992380 Atomizer
Atomizer's picture



This may fill your absent dead soul track

Sat, 11/17/2012 - 18:53 | 2992412 magpie
magpie's picture

The spirit of fiats past ?

Never knew what to make of GEAB, on ZH their view is somewhat consensus. Other than that, their predictions of going out with a bang end up with a whimper, and vice-versa.

Sat, 11/17/2012 - 22:02 | 2992661 Atomizer
Atomizer's picture

Read between the tea leaves, beyond that.. roll the dice!

BTW.. Autosuggestion is my favorite song from that band.

Sat, 11/17/2012 - 18:34 | 2992374 kito
kito's picture

delicious irony.........the c+cksucking spainards raped pillaged exploited christianized surpressed and demoralized south america for centuries and they have the sheer temerity to come begging.....too much.........

Sat, 11/17/2012 - 18:39 | 2992384 Skateboarder
Skateboarder's picture

"Honor" has already seen the antiques pile and is now on its way to the dump.

Sat, 11/17/2012 - 18:42 | 2992393 Bicycle Repairman
Bicycle Repairman's picture

Florida used to be a Spanish colony.  So when is the Bernank kicking in?

Sat, 11/17/2012 - 19:14 | 2992456 magpie
magpie's picture

For some reason, they also overlooked soliciting funds from their African and Asian ex-colonies

Sat, 11/17/2012 - 19:00 | 2992429 Yen Cross
Yen Cross's picture

 Instead of Spain appealing to it's now nationalized foreign "cash cow" overlords, it should just close the books on about 1/3 of it's national debt. FORWARD> Spain

  I wonder if EBS has a new template for drachma/peseta? 

Sat, 11/17/2012 - 19:35 | 2992492 Joke Heros
Joke Heros's picture

Columbus and his ilk, in the name of God and for the benefit of King Ferdinand and Isabela, used to cut off the hands of Taino Indians who didn't gather enough gold for the day.

If Spain wants to return to looting the resources of the Western Hemisphere again they need to start sending over the severed hands of bankers and politicians in exchange for trinkets and beads because that is all they are worth.



Sat, 11/17/2012 - 20:19 | 2992570 Yen Cross
Yen Cross's picture

 Nice post.

Sat, 11/17/2012 - 20:28 | 2992590 gould's fisker
gould&#039;s fisker's picture

Alot of nice history on these posts.  Here's some alternative history--people used to invest in international markets on the basis of making a PROFITS, not as a response to some pathetic requests of irrelvant anachronistic monarchs or in hopes of a infusion of central bank cash.  I know it's a quaint observation, but since we're listing historical circumstances . . .

Sat, 11/17/2012 - 21:00 | 2992646 Yen Cross
Yen Cross's picture

 All the karl Rove jokes?

You guys push hard enough, and Karl might go Dick Cheney( four transplants and a Nixon administration ago) on you!?

Sat, 11/17/2012 - 21:27 | 2992678 nmewn
nmewn's picture

Monarchs, what're gonna do with them?

Now you wanna talk about welfare queens...monarchs (and their families) are fucking parasites.

Sat, 11/17/2012 - 22:26 | 2992765 Perdogg
Perdogg's picture

I wonder when someone is going to write the financial equivalent  of "On The Beach"

Sat, 11/17/2012 - 22:55 | 2992826 Captain Willard
Captain Willard's picture

You have to love the Spaniards. They invest money borrowed from Germans into Latin America and into their own RE bubble. The bubble breaks. The Germans want their money back. So naturally Peruvians and Chileans should pay!

Tell King Juan Carlos that he can abdicate and put the last Inca on the throne of Spain. What an asshole!

At least apologize for 300+ years of murder and exploitation before asking for a bailout. We call it "chutzpah" in New York. I think it's "cuajo" in Lima.

Sun, 11/18/2012 - 01:00 | 2993061 Atomizer
Atomizer's picture

Did you mean they must login to apologize and receive more money? A captcha must be in order.

GDP = C + I + G + (x-i)  BAilMeOuTFuCknUts

Sun, 11/18/2012 - 01:08 | 2993073 Yen Cross
Yen Cross's picture

 Welcome to the , Fed "stigmata"".

Sun, 11/18/2012 - 04:12 | 2993217 dunce
dunce's picture

Spainish enterprises invested in latin america because they saw fast growing markets and future profits, the reverse is not true. Economic reality intrudes on fantasy again.

Sun, 11/18/2012 - 12:54 | 2993669 jonjon831983
jonjon831983's picture

Ya, maybe if the king goes to each of its colonies on a Safari they`ll be willing to open up their wallets.  The people will be amused by his antics like last time.

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