• BullionStar
    05/30/2016 - 21:24
    The US Gold Market is best known as the home of gold futures trading on the COMEX in New York. The COMEX has a literal monopoly on gold futures trading volumes worldwide, but very little physical...

The Great Spanish Crash - Documentary

Tyler Durden's picture


Forget what you are told by various European officials. Ignore the endless parade of manipulated market savants who 'see' sovereign spreads falling and claim that indicates all is well in Europe. To truly understand the situation, watch this must-see documentary from the BBC's Paul Mason on the rise and fall of Spain. From dictatorship to democracy and from construction boom to economic bust, Mason pulls no punches in this down-to-earth realization that things are far worse than any 'market' would suggest. It is critical to understand that free markets are the stick (or carrot depending upon your style of vigilantism) to incent governments to be proactive. With the very visible hand of ECB-funded banks bailing one another out, all the politicians are doing in this 'lull' is nothing at all! Instead, the watchers (and prognosticators) simply observe the market and their bias is to believe that they 'fixed' it. This documentary will explain why that is absolutely not the case.


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Fri, 12/21/2012 - 00:16 | 3085623 tradewithdave
tradewithdave's picture

Andrew Maguire part 2 on Paulson:  http://tradewithdave.com/?p=14372


We're waiting for audio

Fri, 12/21/2012 - 00:23 | 3085653 Careless Whisper
Careless Whisper's picture

Well many people are waiting for Mister Andrew Maguire to surface. The only person that claims to have seen him in person is Mister Max Keiser, hardly a credible source, in my opinion.

Have any videos of Mister Maguire? Any sworn statements? 

Fri, 12/21/2012 - 01:57 | 3085883 economics9698
economics9698's picture

Y = C + I - G + NX.

Someday the people will learn that governemtn produces nothing.  The sooner it is gone the sooner prosperity will return.

Fri, 12/21/2012 - 02:50 | 3085967 macholatte
macholatte's picture


Someday the people will learn that governemtn produces nothing. 


But the government DOES produce something. It produces paychecks, with paid vacations, sick leave, health care, travel expenes, pensions and lots and lots of conflicted politicians.

Fri, 12/21/2012 - 03:00 | 3085974 economics9698
economics9698's picture

Government taxes, borrows, or prints.  It produces nothing, all it does is takes money from producers and gives it to parasites.

Fri, 12/21/2012 - 07:55 | 3086151 GetZeeGold
GetZeeGold's picture



It's either fix the Republic.....or move back to England.


So....what's it gonna be?

Fri, 12/21/2012 - 08:20 | 3086174 Rip van Wrinkle
Rip van Wrinkle's picture

You really don't want to come back to England. We taught Obammie everything he knows.

Fri, 12/21/2012 - 09:36 | 3086334 new game
new game's picture

texas has an certain appeal>more than half of pop. has their heads out of their a$$...that could change, though.

Fri, 12/21/2012 - 09:34 | 3086324 somecallmetimmah
somecallmetimmah's picture

Awww, hellz-no.  I ain't limiting myself to *those* two failed non-options.

Fri, 12/21/2012 - 03:33 | 3085989 Ar-Pharazôn
Ar-Pharazôn's picture

the gov doesnt produce something of value. it transfer money from people to gov and then to other people black.. cough cough sorry back



Fri, 12/21/2012 - 03:48 | 3085998 AnAnonymous
AnAnonymous's picture

But the government DOES produce something. It produces paychecks, with paid vacations, sick leave, health care, travel expenes, pensions and lots and lots of conflicted politicians.

But an 'american' state produces much more.

See how 'americans' have laudated the State and used it to crush stateless societies.

Thanks to it, 'americans' live on land that aint theirs.

Aint the State a wonderful thing? The 'american' state, that is.

Fri, 12/21/2012 - 04:22 | 3086033 TheFourthStooge-ing
TheFourthStooge-ing's picture

But a Chinese citizenism state produces much more.

Smell how Chinese citizenism citizens have laudated the State and used it to crap on stateless societies.

Thanks to it, Chinese citizenism citizens live on land that aint theirs and Tibetans live where they are told by the Chinese Citizenism Communautist Party, or are forced to be hobbos or set themselves on fire.

Aint the State a wonderful thing? The 'AnAnonymican' Chinese citizenism state, that is.

Fri, 12/21/2012 - 12:15 | 3087030 Panafrican Funk...
Panafrican Funktron Robot's picture

The "I" part is pretty important.  I charted what "I" has been looking like historically.


From 1998 - 2011, we went exactly nowhere in real terms.  The private investment portion is the part that's the hardest to "game".

Raw data:


Fri, 12/21/2012 - 02:14 | 3085915 Enkidu
Enkidu's picture

Max Keiser is part of a tiny group of media-ists  who are credible --- a tiny, tiny group. Unfortunately, MSM in America never sees any of them...

Fri, 12/21/2012 - 00:50 | 3085765 B-rock
B-rock's picture

Here is the movie in better quality (honestly): http://www.youtube.com/watch?v=sh35AsfiP7Y

Fri, 12/21/2012 - 09:20 | 3086284 Reformed Sheep
Reformed Sheep's picture

Thanks - there's a bunch of other interesting looking docs down the side panel of that one, too!


Fri, 12/21/2012 - 01:47 | 3085819 Cash2Riches
Cash2Riches's picture

Soon this documentary will be able to be aired in every nation. All you will have to do is change the name of the country.



Fri, 12/21/2012 - 00:23 | 3085643 Yen Cross
Yen Cross's picture

 Just ask Paul Krugman/ He was booed out of one of the most liberal countries in Europe.

 The Ultimate Krugman Take-Down | ZeroHedge

  Spain is more corrupt than Greece.


Fri, 12/21/2012 - 00:35 | 3085711 Freddie
Freddie's picture

Libturd Krugman is more corrupt than Greece.

Fri, 12/21/2012 - 00:45 | 3085751 Yen Cross
Yen Cross's picture

  He sure is. Good on ya Freddie.

Fri, 12/21/2012 - 01:26 | 3085829 Seer
Seer's picture

Wow!  What a couple of great contributions.  NOT!

Freddie's MO is to repeat the same frothing hatred.  I FUCKING GET IT.  And then you have to play buddies.  A popularity contest, how quaint.  Just what we need to move forward into an ever deteriorating future.

Fri, 12/21/2012 - 01:44 | 3085854 Yen Cross
Yen Cross's picture

Am I missing something? The UK100 is trading just below 6K .  Did you miss the boat SEER?

  Who delegated you ass-master?  FUCK OFF

  Don't worry, i won't follow you into oblivion, like some psycho babble idiot!

Fri, 12/21/2012 - 02:28 | 3085943 Freddie
Freddie's picture


Weird? I thought Seer was generally not a f****ard troll.  Maybe he loves listening to Krugman's inane and evil ranting.   Oh well. The world under dear leader is more insane than Alice in Wonderland.

Fri, 12/21/2012 - 00:40 | 3085733 Careless Whisper
Careless Whisper's picture

Maybe that's a good movie, IDK. I had to turn it off after a few minutes of listening to that guy with the British accent. After the past few days of Piers Morgan, I'm really just not. in. the. mood.


Fri, 12/21/2012 - 08:34 | 3086191 reload
reload's picture

Piers Morgan is a total knave.

He used to drink in my local in London 20 years ago when he was a `newspaper` editor. That was before he resigned his job without admitting allegations of insider trading were true. He was a twat then and is a bigger, smugger one now. Just tune him out, he is an embarassment to most of his countrymen.

Paul Mason on the other hand is fairly truthy by BBC standards, the best of an admittedly mostly uncurious ecconomics department.

And yes: Spain is a disaster, France will be the same in a couple of years and then Germany. We need defaults, massive cutting of government is all its forms and then a low flat tax with a tax code written on 2 sides of A4. Then people will have a chance to rebuild and incentive to produce. The fat, complicit and coddled beurocrats in Brussels would rather starve their own children than have their pipe dream exposed and abandoned though. Its going to be a long ugly haul.

Happy Christmas all ZH`ers

Big thanks to the Tylers for another year of revelation and education.

stay safe in 2013



Fri, 12/21/2012 - 08:38 | 3086200 GetZeeGold
GetZeeGold's picture



He was a twat then and is a bigger, smugger one now.


Please give him another chance......we're getting tired of him. He won't even try to talk like an American.

Fri, 12/21/2012 - 09:40 | 3086353 new game
new game's picture

and where to forth comes his validity?

fucken eh...

Fri, 12/21/2012 - 00:42 | 3085741 ball-and-chain
ball-and-chain's picture

Eventually, there will be a new Franco.

How long can democracy survive with 20 percent unemployment.

They've been stuck at that number for quite some time.

It's all screwed up.


Fri, 12/21/2012 - 00:55 | 3085780 Harbanger
Harbanger's picture

Maybe Spain needs to tax the rich and reduce their military, or maybe the European model which is a socialized economic system is proving to be unsustainable, even in the US.

Fri, 12/21/2012 - 01:32 | 3085836 Seer
Seer's picture

It's ALL unsustainable.

Looking back things were as they should have been, though sans Franco types.  And even then it's clear that the country couldn't have held together under this state banner called Spain.  If force is necessary then you're only buying time, as eventually (no matter how people try to pretend otherwise) it comes apart.

Anyone watching this should see why an NWO ain't going to be possible.

Fri, 12/21/2012 - 01:54 | 3085881 Harbanger
Harbanger's picture

"NWO ain't going to be possible." But it Doesn't mean they won't try it.  They're not stopping now, this global utopia has been planned for a very long time.  The MSM, Hollywood elites and the Democrat controlled education system are all promoting some form of global collectivist propaganda. 

Fri, 12/21/2012 - 08:55 | 3086227 GetZeeGold
GetZeeGold's picture



The MSM, Hollywood elites and the Democrat controlled education system are all promoting some form of global collectivist propaganda.


I don't even try to classify them anymore......I just call them all asses. Don't worry about saving me......save yourselves.

Fri, 12/21/2012 - 09:43 | 3086358 new game
new game's picture

is that the matrix? right is wrong and wrong is right-i'm confussed...

Fri, 12/21/2012 - 01:39 | 3085845 Frozen IcQb
Frozen IcQb's picture

The current resources can go to the people for rebuilding the economy or to pay for debt service.

Maybe they just need to rid themselves of malinvestment, default and start fresh.

Fri, 12/21/2012 - 00:49 | 3085757 SpykerSpeed
SpykerSpeed's picture

My heart goes out to these people.  Sure they're mostly socialist idiots who don't understand how economics works.  But this is our opportunity to explain why they can't find jobs, and more importantly, explain it to the youth.  If the youth could comprehend en mass that fiat currency and socialism always lead to this, we might be able to avoid another fascist uprising in Europe.  A group of free market oriented filmmakers should create a viral video that explains everything as simply as possible in Spanish and Greek.

Fri, 12/21/2012 - 01:05 | 3085802 balz
balz's picture

Cause you know how economics work? Bull shit. Free market does not work. Life can't be marketed. That's what you libertarians do not understand. As much as a totally central economy spell failure, "free" market takes the same path.

Fri, 12/21/2012 - 01:21 | 3085822 Ox
Ox's picture

The free market works just fine, though it's a pity that free markets and state sponsored welfare/social support are somewhat mutually exclusive ideologies.


So we get a half assed version where the government interferes in the free market where it pleases in order to win votes/follow goals that the market does not desire, wrecking price signals and causing bubbles.


Fri, 12/21/2012 - 01:38 | 3085843 Seer
Seer's picture

No, say it ain't so!  An ideology that doesn't work in chalkboard form in real life?

As soon as you have a govt or other BIG entities that can cause major disruptions NO "perfect" system can exist.

"Free markets" work in people's heads.  If you want it to materialize then the ONLY way is to throw off ALL govts.  And you'd have to neuter big corporations as well.

Fri, 12/21/2012 - 02:19 | 3085926 Seer
Seer's picture

Still waiting for someone to present ANY case of "free markets" that were FREE of govt influence.

Facts are tough to swallow, yes?

Easy to bash, harder to prove yourself...

Fri, 12/21/2012 - 02:28 | 3085942 Ox
Ox's picture

Are talking to me? Pretty sure your point isn't contradicting mine, I agree that there are no markets free of govt. influence - that's part of the point I was making. Market mechanism is an efficient allocator, but humans refuse to allow it to work because the consequences are politically unsavoury, and politics and economics are intertwined.



Fri, 12/21/2012 - 03:09 | 3085975 Harbanger
Harbanger's picture

The US had Free markets, Property Rights, and Sound Money before the creation of the Fed.  We've been on a progressive drift towards Socialism ever since.  If you're really interested in learning about the subject, here's a link,


Fri, 12/21/2012 - 03:52 | 3086005 AnAnonymous
AnAnonymous's picture

The US had Free markets, Property Rights, and Sound Money before the creation of the Fed.
Absolutely. And the US also had freedom.

Unfortunately for 'americans', it is no longer 1777.
And worse for them, the world is populated with 'americans'
And one thing is difficult: to bamboozle 'americans' about 'americanism'

After stealing a whole continent, 'americans' still want people to believe the US had property rights and that is what the cause for their prosperity.

So funny.

But hey, 'american' economics is all about consumption. So as long as this fantasical drivel leads to consumption, 'americans' are the happy type...

Fri, 12/21/2012 - 04:04 | 3086014 Harbanger
Harbanger's picture

The world is now populated with 'americans' and they will consume the chinese next.

Fri, 12/21/2012 - 05:13 | 3086016 Yen Cross
Yen Cross's picture

 the world is populated with [izms}  You buy my toaster, or I sell your FIAT!

Fri, 12/21/2012 - 13:04 | 3087231 Panafrican Funk...
Panafrican Funktron Robot's picture

I think a lot of the issue is regulatory capture.  Consider countries that are relatively less subject to this effect (esp. Scandanavians); their strong social welfare programs don't appear to be at odds with well functioning, productive economies.  

The primary purpose of a good government in an economy is to develop a simple, fair, and transparent system of checks and balances (through taxation, regulation, and redistribution).  This is actually a necessary role, because the absence of a government presence allows for unmitigated and inevitable market failures (two primary drivers being the free rider problem and negative externalities).  The trick is in figuring out the most efficient models of taxation, regulation, and redistribution.  Regulatory capture necessarily results in inefficient models for all three.  More succinctly, we need to throw the bums out, and the bums are not just the politicians currently in office.  

Fri, 12/21/2012 - 01:43 | 3085855 Frozen IcQb
Frozen IcQb's picture

On the contrary, Free markets do work when operating normally.

Spainish officials and bankers were not willing to take the losses which makes free economies work.

They socialized the losses at the expense of the poeple.

Fri, 12/21/2012 - 01:52 | 3085877 Seer
Seer's picture

Those who like to fly banners are always blind to their flaws..

The failing is that libertarians tend to think that some government is needed.  Crack the door and you cannot shut it, it will always FLY open (when power comes a knocking).  It's nice hope, but won't work.  And, it's necessary to support the notion of "property rights."  Again, I AGREE with the concept, but it's that door cracking open that bothers me- history shows us no other way on this.  If govt has the power to protect your property rights it can also has the power to take them away.

So, in conclusion, I believe in "free trade."  I like the notion of smaller govt like the libertarians, but I encourage things to go in a more complete direction- no centralized govt.  How the "property rights" things work out here I just don't know; but, since lots of people have a lot of ammo I'm thinking that personal protection of property rights (and getting along with your neighbors) is just as good.

Fri, 12/21/2012 - 02:21 | 3085930 Seer
Seer's picture

No rebuttal, no concrete evidence showing any different?

Didn't think so...

Seems everyone has to be under the spell of some kind of "god."

Fri, 12/21/2012 - 07:13 | 3086124 StychoKiller
StychoKiller's picture

Au contraire!  Life can be marketed, just ask those Chinese blokes what sold their kidneys for an iPad!

Fri, 12/21/2012 - 01:12 | 3085812 Freddie
Freddie's picture

My heart goes out to these people. Sure they're mostly socialist idiots who don't understand how economics works.

Sounds like Paul Krugman - Nobel Prize Winner. (sic)

 But this is our opportunity to explain why they can't find jobs, and more importantly, explain it to the youth

Sounds like ObaAmerika aka the new emerging Zimbabwe.

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