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Nigel Farage Message To Europeans: "Get Your Money Out While You Can"
In Nigel Farage's first TV appearance since the Cypriot wealth tax was announced, the Englishman pulls no punches. In all his years and all his experience of the desperation of the European Union's leadership "never did [he] think they would resort to stealing money from people's savings accounts." The simple fact is that they know they cannot let any country leave, no matter how small, for "once one country goes, the whole deck of cards will come tumbling down." There is now "clear irreconcilable differences" between the North and the South of Europe and now that they have done this in one country, "they are quite capable of doing it in Italy, Spain and anywhere." The message that sends to people is "get your money out while you can." As far as his British constituents, he strongly recommends George Osborne (UK Chancellor) urge ex-pats to remove all their money and do monthly transfers from home. "Do Not Invest In The Euro-Zone," he concludes, "you have to be mad to do so - as it is now run by people who do not respect democracy, the rule of law, or the basic principles upon which Western civilization is based."
"They are propping up a Eurozone that, in the end, will collapse in disastrous failure and they are prepared to do anything to do so."
5 minutes of reality from a European MP - must watch...
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Nigel-Israel Firster
.
Friends of Israel in UKIP
New Zealand too?
http://www.voxy.co.nz/politics/national-planning-cyprus-style-solution-g...
Edit:
Another link, from Jesse
http://www.interest.co.nz/personal-finance/63641/green-partys-russel-nor...
What's the difference between stealing it thru unreported inflation or just taking it.. Central banksters seem to think that all money belongs to them along with all the assets it can purchase.
HA HA HA HAHA,
So are we to believe that Britain is ABOVE stealing from depositors?
Sounds to me like pot calling kettle black.
I recall reading a story not too long ago about a British Bank stealing people's valuables out of their Safety Deposit boxes.
The Western Banksters are all in it together.
"...are we to believe that Britain is ABOVE stealing from depositors?"
Absolutely not. If UK Govt finances get any worse, they'll consider options.
That's why there's not been any outright condemnation by anybody in the UK Govt of the attempted theft by the EU/ECB/IMF from Cypriot bank accounts.
And there are plenty of other examples of the EU brushing aside the Rule of Law without so much as a squeak out of Westminster. Britain may not be part of the fated Eurozone, but it's sure part of the EU and worse still, it's part of the global political criminal elite.
attempted theft? the eurozone parliaments are willing to give 10bn if Cyprus finds other 7bn to complete the package - the Cypriot president and his British Cypriot finance minister are trying to convince their parliament to do this law - if it is theft, than who is doing it?
"Rule of Law"? Parliaments make law - and Westminster is a parliament, as well as the Cypriot one
"the eurozone parliaments are willing to give 10bn if Cyprus finds other 7bn to complete the package"
Nope. Cyprus have been offered a LOAN of ~€10bn... Like the loans to Greece, Spain, Ireland et al, it would have to be repaid.
There are plenty of terms being bandied around to describe what the €5.8bn from private deposit accounts actually is. Theft is one of them. Expropriation is another. They all have merits. But just another new tax is not one of them.
Passing a new law to authorise it doesn't really change that is flies in the face of other existing laws/protocols. EU deposit accounts are supposed to be secured by the country's Deposit Protection Scheme up to €100k. When a bank goes down, depositors are supposed to be the last group to lose their money. What was proposed brushes all of this aside and sought to expropriate depositor funds 'first'. As I've said many times: savers are the only ones with any money left, so governments are finding ways of stealing it to fund their bloated spending and pay off state debts.
I'm not one of those who believes that just because a govt passes a new law that it automatically becomes fair and just. History is littered with the bodies of despots who have passed new laws to support their despotic policies. The victims have occasionally thought otherwise and dealt with them. IMHO it is way past time for people in the West to deal with their increasingly despotic governments.
are you sure? I understood that they would get bank stocks for that. anyway, from their point of view it's an offer
Dunno what's worse:
1) Europe collasping
or
2) Having to sit thru Nigel Farage telling us that Europe is collapsing
European people to banksters : You fuck people out of money and get away with it. You put our fucking money to sleep? You go get our money or we'll put your fucking brains to sleep!
Sure they respect the rule of law. Their law, that you have to obey, that says you have to give them your money.
I sometimes don't get Farrage: This obedience to the laws of the rulers, which are just opiniona, written down, backed by a lot of guns, started the whole mess in the first place.
If there is a group of people who everyone thinks you should always obey, you don't need to be a rocket scientists to figure out you end up where you end up.
Yes, for an anti-establishment guy he's fairly well estabished. Clearly looking for a political role, come the revolution.
"It's such a fine-line, init?" - another Nigel
Nigel Tufnel, perhaps?
Give the man a cuban ,, brazillian ... whatever he wants.
Farage is a politician first, and there are very narrow parameters for that descriptive, particularly of late.
people might want to stop looking for heroic politicians, for someOne to "vote" for or be led by. . .
soon.
well Krugs you got one thing right in all this back and forth bantering, this is all beyond you.
I like his accent and all, but why praise him for his courage? The UK is not part of EU and many interested parties there would like to see the EU fail.
The UK has been an integral part of the European Union (EU), but is not (yet) part of the Eurozone (European Monetary Union)
MS7, choose and explain your choice
I have to admit: I AM ENJOYING THIS. I know I shouldn't because some people will suffer. But, I can't help it.
after all it's war - with unconventional means
no worries, someone else will no doubt be enjoying your suffering when the time comes. . .
seems to be the way of the world.
...wish we could get some Balls like that in America.
Instead we have "pussy-footers" like Santelli, Pisani et al.
Biderman has got some Balls though, to be fair.
I'd also nominate Matt Taibbi in the balls category . . .
Dear DR. Krugman,
Where is this congressionally mandated liquidity coming from?
A. Skimming Pension funds
B. Looting Brokerage accounts
C. Leveraging bank deposits
D. Printing press
E. You know...ALL
Only one thing remains. The stage has been set.
Keep your money in the system, and let us know how it works out.
So I guess the question now is this: Is the Cyprus Parliament more afraid of the EU mafia or the Russian mafia? :-)
I can joke about this now but imo the same bullshit is coming to America. All I can hope for is the banksters and the people in government who allowed this to happen get theirs. If you know what I mean.
How about getting Nigel and Rick Santelli together to answer questions from Steve LIESman. LOLOLOL I would pay a premium to watch that clip.The question is what would they do with Liesman body after the carnage.
And what was todays headline. Yoga pants, too revealing from....
Lululemon ‘sheerness’ puts shares on sale .... Insanity in the first degree. We are all so fucked!!!
Is ther real Krugman????
Go fuck yourself
You are not welcome here.
YOur economic advice is basically tpo print more money
how very creative of you
give me ONE EXAMPLE where printing money has worked ?
I will give you one example where your false doctrine is PROVEN t5o be false and the Austrain one proven to be correct
ICELAND
They allowed capitalism to work and banks that should of gone bankrupt did
IE SHAREHOLDERS and BONDHOLDERS are wiped out and now Iceland is receovering
THAT IS CAPITALISM and waht works in the long run but facsist socailists lie you never see this
How did 3 decades of QE wpork out for Japan?
they end up with 3 lost decades and now the currec=ncy is collapsing
printing money to pay off debt never works and ALWAYS leads to currecny collapse
how can you be so fucking retarded not to see that?
YOUR KEYNESIAN policies will only work if the public debt is not high and thus can take the slack off of the private sector in
normal recessions
It never works in huge credit bubble bursts ie DEPRESSIONs and when the government debt is alrwady too high
DO you realize that your advice has RUINED OUR CIVILISATION
do you realise the damage you have done??????????????????????????????????
IF i see you I will use your body parts as QE
"as it is now run by people who do not respect democracy, the rule of law, or the basic principles upon which Western civilization is based." And that's different exactly how from either the UK or here in the USSA?
Friends, Romans, Country Noblemen, we are all witness to history in the making. Be proud and grateful for the advanced mass-mind that herein gathers. There is no greater place to be on the leading edge of true-news. We all see plainly who the real enemies of the world are fast at work here playing cards that have effects on us all. Everybody sees what is going on as fast as it goes on and each is an integral part of the co-creation of what is going on...one day at a time.
Now, it is being thought that two of the banks in Cyprus are insolvent. Has that got out to the Cyprus people yet? Like, how much cash on hand do these banks have to give when the people hit the doors seeking their funds in the am? THIS, is yet to be seen, but if there are already rumors of two banks being insolvent, there is reason to say...Roh Roh.
News from the Telegraph:
"Schauble has now said that two large Cypriot banks are essentially insolvent without aid."
What does that mean?
In this video clip we see the fine leader Nigel Farage here pointing as usual to the truth of the matter. He is giving the people real advice because he cares!
On the other side of the pond, we are seeing some of these congress people care also. There is now a two front assault on the evil bankster fortress from the east, and the west. Everyone knows who and what the beastly squidly-diddly thing is. We see now that the US Congress is also starting to say NO to the evil bankster empire of dust. Check this out:
"The article ends on an opinionated note, pointing out that the US may lose “credibility” if it doesn’t sign off on increased IMF powers. Further, the lack of US good will on this issue “is undermining the IMF, the G20 and efforts to enhance better international economic cooperation.”
Shock: Globalist Plan for IMF Failing in US Congress?http://intellihub.com/2013/03/19/shock-globalist-plan-for-imf-failing-in...
Pray for peace and stability when these folks go to get what is rightfully theirs after the banks finally reopen. Of course, one has to wonder if these banks will even open at all if they are insolvent.
Ha! yeah, good find ... definately up to no good.
Nigel Farage is misguided and disingenuous.
Governments have been plundering savers since 2008. It's called ZIRP and it is theft through inflation! Ben Bernanke burn in hell.
"NO ONE SAW IT COMING" the faggots in pinstripes will all say.
This motherfucking "industry" called "finance" is death to any who believe in it.
Did it all through the 1950s too when Pension Funds and Trusts were forced by law to invest in 3% Consols as Inflation took off
Dear Mr. Krugman:
Go shoot yourself and rot in hell for all of eternity.
I don't think that is Krugman. I bet Tyler would not allow that slut on the site. Or, maybe he would enjoy hanging him here.
you'll never guess what! those crazy syrians have just gone and used a chem weapon!! what a coincidence.... whats that? we have to bomb thier wmd's? wow! cant believe this has just happened same time as cypriot crisis.... what are the odds eh?
.
It was the REBELS that fired it. The same rebels that horseface decided he'd provide arms to.
RT have a story running on it.
Farange - European Schiff, he will be right sometime in the future, but meanwhile we can make some money.
All I see is the Western world trying to feed a shit sandwich to their citizens.
And Farage is branded a swivel-eyed lunatic in the UK!!
In a world of universal deceit, the truth is a revolutionary act.
Only by the main political parties (Tories and Layyyyybour) ...and of course their mouthpieces in MSM.
fARRANGE IS THE ONLY PERSON IN THE uk with inflience who has a brain and set of balls
A are combination
GBR stands for great brainwashed RACE
Marios Mavrides, Cypriot MP: "If we can't come up €5.8bn in a few days I think we'll go to the Cyprus £. That'll be the end of Cyprus in the euro"
If they can't come up with €5.8bn when under the gun, how are they ever going to come up with the
€13 billion they will then be allowed to borrow?
Perhaps he is just doing what he is told to do. Make the crisis worse.
I think he meant get your money out of the US while you can. Froidian slip
No word of this clown when his banker friends did a grab in MF Global London accounts.
D
I didn't arrow you. I would like to hear from those who did whether there's any truth here. Regardless, London is the arm pit of all the financial crap. I don't follow Farage close enough to know what his thoughts/actions are on this.
nigel dude, thank god all that UK rehypothicated crap is secured by real assets rehypothicated from real actual rehypthications of real crap.....
the message is.
weak currency equates to stealing money by debasement
and strong currency equates to stealing money by "taxation"
or confiscation. it is all slavery by elites upon the many.
as has been said, the system is one of enslavement by fiat, law.
it is a mathematic certainty instituted to steal your labor and
integrity. all of it. good luck and
trust no man.
links upon request, available at the moment.
The only play the EU has is to siege Cypress and keep the banks closed as long as possible to inflict pain.
BREAKING NEWS: Assault Weapons Ban is DOA!
http://www.foxnews.com/politics/2013/03/19/reid-cuts-assault-weapons-ban...
Fineswine is disappointed. :(
My gold is safer than before.
Guess I left my gun in the back of boat. Close one.
As soon as this Derivative cascade starts it's going to be dominoes loaded with C4.....
The four horsemen will be yelling....TIMBER...
Logical to pull your money out before the Eurocrats take another stab at stealing the funds.
The Eurocrats will attempt it in Italy, Spain and elsewhere.
Simple arithmetic should teach us that the best way to avoid system collapse is :
1° To stop fiat propagation in private sector feeding the cancer, aka curtail the banking activity in shadow stuff that eats up 85% of all banking plays today.
2° Pull back into the real official economy the wealth stashed off shore to write off the socialised debt accumulated in neo liberal sleight of hand since 2000 fiat pump acceleration.
3° Start true infrastructure type projects in first world to create economic activity, not fake speculative commodity oligarchy type wanking, around sustainable paradigms leading us to a new lo-fossil energy and alternative energy type profiled economy. Look at this list on this pervading cancer in current neo liberal globalisation mode :
Top ten global oil and commodities traders - Telegraph
Meet The Mysterious Trading Firms Who Control The Price Of Commodities - Business Insider
4° Take the onus off a militarised world economy and cutback on defense spending and MIC shilling world wide.
5° Learn to spend frugally on social agendas continent wide based on balanced budgets or debt levels in growing economies that are sustainable as these economies grow; while first world moves to new frontiers via technology upgrades.
6° Have a confederated type Marshall plan to ensure that structural imbalances between rich and poor do not get worse. Install coherent selective social protection programs that regulate what level of market competition is compatible sector wise with social agendas in different regions/nation states. This is the crux of the matter as mad financial and neo-liberal inspired globalisation has not resolved our collective destinies; instead it has exarcerbated its fault lines.
This begs the question what type of institutions the world needs and the reply is strong but fair state systems stay the back bone of all civilized countries. But in the Internet age the ongoing correction to failed "top down" policies should immediately be debated and corrective action taken based on "bottom up" inputs; instead of muzzling up all contestation in Julian Assange type plays by TPTB.
The governance of the global village is now a collective agenda; no turning back from this reality; economic, social, ecological and informational.
This is the true renaissance of our new world paradigm, a people's civilization frontierless as blue printed by Eleanor Roosevelt in 1948, and it is also where the counter reform of reactionary thinking and regressionary logic will show its ugly head.
>Having said that, it is my humble belief that exactly the opposite will occur, as that is how the Renaissance age played out in real history : Clash of civilization beween Universal Habsburg empire, conquistador rapists of world resources, and Ottoman pretentions; complicated by the nascent nation state divide in Europe leading to 11 wars in Italy, dismembering of its city republics, spill over into France leading to 8 religious/civil wars, spill over into Habsburgian decay with 30 years war in northern Europe until peace of Westphalia. End of Renaissance and beginning of global colonial paradigm to conquer new world.
Play on Sisyphus! The only good thingies : they invented Champagne and Freedom of speech when Enlightenment came back with a vengeance. "Hang the last banksta with the tripes of the last crony politician"...
"as it is now run by people who do not respect democracy, the rule of law, or the basic principles upon which Western civilization is based."
Quick questions:
Who is it, amoung the 0.001% that created this crisis, that obey the above law?
Who is going to pay for it?
And all this trouble over what---a $5-6billion bailout when the FED forks over a $100billion a month?
Unless something else is going this clearly shows how greed and stupidity go hand in hand. If the entire thing blows sky high over this $6billion won't sound like much. Of course the whole problem if it's not now it will be some point later they're just trying to rob everyone first.
The coverage of the Cypress debacle is almost as good as my all time favourite--where's the gold vault series.
Well done.
The most famous gold heist.
After the fox.
https://www.youtube.com/watch?v=TIKiHZqVwJk
And one of my other favorites from Peter Sellers.
https://www.youtube.com/watch?v=FcPQ9gww_qc
I can access this link. Amusing but chilling.
Sorry Scappy , can not access this link.
C Y P R U S
I do not know what you mean. But, would like to know
Edit. My bad. Must have trees on the mind.
Love the bags of donkey shit.
Take The Money And Run - The Steve Miller Band (Lyrics + HQ)
http://www.youtube.com/watch?v=-WCFUGCOLLU (2:51)
The Steve Miller Band - Greatest Hits 1974 - 1978 (1978) Full Album
https://www.youtube.com/watch?v=4Qud4Sk49tU
"Your cash ain't nothin' but trash..."
Let me begin by saying that you won't like what I have to say.
Sometimes the Tylers don't make sense to me. Generally, they are scathing of most parts of the financial system, politicians and talking head pundits. But this idolisation of Farage baffles me. Here's why:
The great financial experiment that we currently live under is an Anglo-Saxon invention - and it has served the US Elite (and, by extension, to an extent, the UK) very well indeed. For the past couple of generations, controlling the world via the all-powerful $, has allowed America to skim off the top of almost every financial transaction. This has allowed her (amongst a great many other things) to demobilize manufacturing at home and pay low wages to impoverished overseas workers to produce her goods for her, boosting profits for her own 'home-grown' corporations that now, ironically, refuse to pay taxes. It has boosted her credit rating to unbelievable, ludicrous and utterly unsustainable levels. In turn, it has allowed her to build an awesome arsenal of weaponry with which to further strengthen her position, along with an enormous network of spies and informants, at home and abroad - to be utilized when the barrel of a gun would seem...well, unseemly - especially if the native folks get restless.
Unfortunately, envious eyes are upon her. The EU was formed expressly (though unwritten, of course) to break the back of US monetary hegemony. The Chinese aren't far behind with the same explicit goal. Break the hegemony - weaken the power - fracture the society - disarm the opponent. What better way when war between Western Sovereigns is impossible, in an age of 450 nuclear power stations that simply cannot be without 100% infrastructure?
So why does Europe give the impression it is trying to detonate itself? Well.. how do you take down a system forced upon you by history that you desperately want out of and simultaneously you also happen to be part of? - You start small fires in your own neck of the woods. With a system that's globally interconnected, unbalanced, teetering and hanging on by a thread, small fires here and there will give rise to a wildfire that will sweep through to the core. There is a game plan here and it's being enacted slowly, cautiously and with long-term intent - to unseat the $ and replace the current system.
Promoting Farage as some kind of 'voice of reason' is odd. He left the Conservative Party because they weren't conservative enough. He's a posh boy from a posh boy school working inside The UK Establishment, his job it is is to deride the EU, pointing the finger elsewhere to make the crumbling US-UK centric monetary system (that the EU has to be a part of) seem credible, but somewhow all-fucked-up by those stupid bloody non-English speaking foreigners.
That's what I don't get about the Tylers. They know the US and UK economies are easily as fucked as the EU - you post enough incredulous stories about it every single day - and yet you hold Farage up as a hero for kicking an easy target that is trapped in a system not of it's own making - whilst Farage conveniently avoids looking in his own back yard and simultaneously non-explicitly continues to support the current system - a system that is a long way down the path to fucking all of us nobodies that are trapped in it too.
Going to bed now - I expect many down arrows tomorrow. And maybe a few fuck offs.
You got a +1
but;
As I see it there's no conservative govt in pommy land at all. After Blair all three parties had converged on the 'centre'. So for someone to say the Cameronites are not conservative enough, does that make him a neo-nazi? Or just a true Conservative, who sees no true conservative party for him and people like him?
But more to the point when has zh EVER been about supporting ANY side of politics in ANY country? This place is just about as anti govt and anti political parties as you can get for a blog.
exactly, what is 'conservative' nowadays anyway. to irritate people i like to say I'm a neoclassical liberal a la thomas locke. then am usually asked if he (locke) is a democrat or republican
I always preferred JOHN LOCKE myself but sounds like you like Thomas HOBBES
There is no support because the political parties and governments are only out to look after themselves. Why would anyone support anything that is against their own best interest? Why would we want to extend a system that can only fail if not contunually propped up? And extend the power of the leaders responsible for such a failed system? Why would we want to satisfy people who can never get enough, when it's our share they want as well? We want to end the lies, the exploitation, the corruption and the cronyism. We want ideals that benefit all the people.
At least that's what i want.
Britain is a Socialist Republic. It became one in 1940 when th State took control and built the world Orwell described in "1984".
there are few anti-establishment people speaking out loud. farage is alomst the only one in europe (am sure there are others, but no soapbox). With ron paul retiring, his son has to learn quickly what to do, but those are big shoes to fill. in asia there are no voices, as japan is in reality the most western country there is, economically speaking. china will never show her true cards until the sword is upon our necks.
i dont think farage supports his own system, its just the the europeans are far far worse. those countries gave up the ability to print their own currency! they think they can choose their own leaders still!
like slovakia, who first voted down the efsf, the 'govt fell' (which as a US person dont really understand how representatives can just be replaced overnight), which almost occured but the president of cyprus refused the finmins resignation.
the ecb's true fear is that if cyprus leaves and they survive (think iceland) everyone else will want out, and germany will be stuck with massive debts owed to it in euros while these other countries simply walk away.
Farage embodies the typical product of English Public School.(Dulwich College)...........he can ANALYSE and he can ARTICULATE the Problem. He simply cannot roll up his sleeves and find a SOLUTION. It is always breezy and self-assured but in any practical sense, useless.
That is the English Problem. It is why they are intellectually coherent but practically useless. If you don't think Cameron or Osborne or Hague could say the same things you are in denial. They can, but they are total failures at solving the PROBLEM because the SOLUTION is not available to welfare-democracies. This is Endgame in the OMOV System
Actually he has regularly presented a solution, ie that most of the EZ countries should get out and default if necessary.
Just because the EUcrats, the national politicians they have bought or coerced, their bankster partners in crime and you do not want to accept that this is the single most important practical step those countries can take is your own shared deficiency, not any failing of Farage.
What part of "They are stealing money from savings deposits" do you not understand?
C.D., you're over thinking it. Nigel is held up because he has good entertainment value. He stands before the EU and says what most of us are already thinking ...
excellent comment, though note that the agenda vs the "great financial experiment" as you aptly call it is different for the 17 eurozone countries as vs the rest, the other 10 who are members of the EU but do not use the EUR - and this includes the UK
the eurozone countries do not believe in the great experiment since 1971 and have their own little experiment going on, with an eye on keeping manifacturing home and not risk super-inflation, among other things
they are two different clubs of nations
The Euro was supposed to create WIDE and DEEP Capital Markets akin to New York. In this it has FAILED. It has simply led to a Continent-Wide Workout Strategy caused by Balance-of-Payments Imbalances in a fixed-exchange rate system. There are supposedly penalties the EU Commission can impose on PERSISTENT Surplus Countries where the surplus >6% GDP. Germany should be facing trade sanctions soon unless they can accept TARGET2 Balances as a surrogate penalty and keep expanding them as GIFTS to the ECB
you mean you have more faith in the greater financial experiment than in the smaller one. if so, fine by me, we will see
deleted - wrong location
Can't people like Nigel be put in prison for being a risk to the society or something??
How dare such a high ranking person speak plain and honest truth.....
The first thing that you are supposed to do when you join the government at any level is take out everything like honesty and integrity from within your and stuff yourself with contributions from powerful individuals and institutions so that you think, speak and act only what is told to you by them.
The world governments are morally corrupt and would be willing to sell their own family for money. The arms and ammunition industry and the banking cartel own the politicians in power. They use their money power to get only those politicians elected who work solely for their profit motives. The rest of the world population be damned. The only activity they do is pacify the majority of the population using false statistics and promises of a better future so that they do not lynch them and their masters while they are robbing the taxpayers.
http://www.marketoracle.co.uk/Article35345.html
www.letstalkmoney2012.in
how he dares? his party is elected to the european parliament but does not get any seats in the British one
That is because the EU "Parliament" elects on Regional Lists and UK Parliament on FPTP which makes it expensive to contest individual constituencies. Surely you knew that ?
Of course he/she/it knows that, but was just using the half-truth method so common to politicians, journalists and bankers to create a misleading understanding.
yeah, sure /s. meanwhile whenever I talk about electoral systems to any Brit or American they just look at me and stare. may I ask you again: why can Farage speak in the european parliament but not in the British one? again? ...crickets... electoral systems matter
so I repeat: Nigel Farage has a voice because the european electoral system allows it - in the US, the UK, etc. he would not get a voice. suit yourself
when you live in a debt based money paradigm everything
is backwards and reversed, upside down. stand on your head for
a time and you will see, after all ... less is more.
ignorance is bliss, right is wrong, bullshit is king trumping
substance with exceptional style. in transition substance is the mystery
while style is up front and tangible, pricing impossible, rule by law....
less law, style, makers of fortune so long as u play slave .
Stuck In The Middle With You - Stealers Wheel
http://www.youtube.com/watch?v=DohRa9lsx0Q&NR=1&feature=endscreen
Mr. Farage, How about the money stolen by The Bank Of England via QE??? Is that any better? Is that a sign of democracy???
Losses of up to 1 trillion EUR! Poor plebs. If you could only monetize, monetize, and monetize some more.
Maybe I have it wrong but seems an interesting conundrum They should not and one hopes will not be allowed to take money from peoples bank accounts but if they don't take the money those with account with more than 100m stand to loose potentially a lot more. Which is how it is supposed to work. I am guess that then the eu will be forced to backup those accounts for fear that some wealthy people may take a beating . Actually maybe the eu will have to backstop the whole thing.
rule of law, get over it. the banks & puppet governments rule the world. the rest of us just comment on internet sites
Dont be surprised this week when the U.S. Dollar rallies... money running out of europe to U.S. Banks. short the eur buy usd a no brainer.
I suspect Moscow is going to offer a safe-haven backed by Gold to safeguard deposits in coming years
Sort of on topic since the common denominator here is the Squid aka GS.
http://www.huffingtonpost.com/2013/03/18/goldman-sachs-supreme-court_n_2...
WASHINGTON (Reuters) - Goldman Sachs Group Inc suffered a defeat on Monday as the U.S. Supreme Court let stand a decision forcing it to defend against claims it misled investors about mortgage securities that lost value during the 2008 financial crisis.
Without comment, the court refused to consider Goldman's appeal of a September 2012 decision by the 2nd U.S. Circuit Court of Appeals in New York. Goldman shares sank more than 2 percent.
That court let the NECA-IBEW Health & Welfare Fund, which owned some mortgage-backed certificates underwritten by Goldman, sue on behalf of investors in certificates it did not own, but which were backed by mortgages from the same lenders.
Just a reminder on the banking system here in the US and how our Congress is protecting our interests and even world wide interests for nonbanking entities at the same time.
http://www.huffingtonpost.com/2013/03/19/wall-street-deregulation-_n_291...
WASHINGTON -- A bipartisan cadre of House lawmakers will move on legislation to deregulate Wall Street derivatives Wednesday, less than a week after Sen. Carl Levin (D-Mich.) released a devastating report on the multibillion-dollar derivatives debacle at JPMorgan Chase.
"The road to hell is paved with these bills," said Rep. Alan Grayson (D-Fla.), an advocate of financial reform.
The House Agriculture Committee will mark up several derivatives bills on Wednesday despite opposition from a coalition of public interest and consumer advocacy groups known as Americans for Financial Reform. The effort to weaken regulation of these sophisticated financial instruments follows multiple in-depth autopsies of the London Whale debacle at JPMorgan, which has already cost the company $6.2 billion and tarnished its reputation as a prudent risk manager. It also comes less than three years after the Dodd-Frank Wall Street reform legislation, signed into law by President Barack Obama in 2010, set a host of new standards for the derivatives business, including heightened transparency and reduced taxpayer support.
In a statement provided to The Huffington Post, Levin expressed exasperation at the House efforts.
"Last year, some members of Congress supported watering down Dodd-Frank derivative safeguards, but abandoned those efforts after the world learned that JPMorgan Chase had lost billions of dollars on derivative trades made out of its London office," Levin said. "It is incredible that less than a week after new JPMorgan Whale hearings detailed how the bank's London office piled up risk, hid losses, and dodged regulatory oversight, that some House members are again supporting the weakening of derivative safeguards."
Derivatives were at the heart of the 2008 financial collapse. The preferred financial vehicle for a host of risky bets on the U.S. mortgage market, they created artificial demand for subprime mortgages, encouraging banks and mortgage brokers to extend loans to doomed borrowers. Derivatives pushed insurance giant AIG to the brink of bankruptcy and proved a hotbed for abuse on Wall Street. Goldman Sachs famously settled with the Securities and Exchange Commission for betting against the very derivatives it created and sold to its clients.
Yet in an era of partisan gridlock in the nation's capital, Democrats and Republicans have come together to repeal or weaken those rules. Although Obama may not want to sign a standalone package of Wall Street deregulation into law, bipartisan legislation could be inserted into a broader bill that the president might find difficult to reject.
Many of the supporters of the latest derivatives bills are longtime anti-regulation Republicans, including Reps. Patrick McHenry (R-N.C.) and Scott Garrett (R-N.J.). But some Democratic supporters point to constituents off Wall Street when asked about the legislation by HuffPost.
A staffer for Rep. Gwen Moore (D-Ill.) said that her bill was designed not to pad banking profits, but to relieve regulatory burdens on other companies that do business with banks. "You have these huge corporations -- I'm just gonna use Caterpillar because I guess you know they're in our district. They do business in Russia and Canada. They do mining and sell huge pieces of equipment that take years to construct ... and they need to hedge those risks," said the staffer.
Moore's bill would allow a company like Caterpillar to trade derivatives with its offshore affiliates -- firms that it owns in other countries -- without posting money to a third party guaranteeing that it can make the trade.
Exempting such trades from oversight could also help foster tax avoidance, however, since companies have used sham derivatives transactions to dodge the Internal Revenue Service. Such activity is usually illegal, but the IRS has been short on resources to investigate and combat it. Requiring companies to post monetary guarantees creates an upfront cost to sham transactions that may serve as a deterrent.
"We have not taken a position on, nor advocated for this bill," Caterpillar spokesman Jim Dugan told HuffPost.
According to a 2008 report by the Government Accountability Office, Caterpillar operates 49 subsidiaries in countries classified as tax havens, including 13 in Bermuda alone.
Rep. John Garamendi (D-Calif.) is sponsoring a bill to exempt derivatives traded between public utilities and Wall Street banks from some of Dodd-Frank's requirements. He said this would save money for the utilities and argued that his bill should not be considered as part and parcel with other derivatives legislation.
"I don't have an opinion about the other bills," Garamendi told HuffPost. "I'm considering them."
At a congressional hearing last week, Wallace Turbeville, a former Goldman Sachs banker and current senior fellow at the public policy group Demos, testified on behalf of Americans for Financial Reform that exempting utilities from the rules would ultimately help Wall Street firms profit at the utilities' expense.
"I had the uncomfortable opportunity to witness sales calls by derivatives specialists on governmental utilities," Turbeville said. "I have seen the technique of fostering a sense of trust, encouraging an advisory relationship that can be exploited to sell an immensely profitable derivative when other alternatives could be better."
Garamendi dismissed Turbeville's concerns.
"The question is, 'Will the sharks on Wall Street take advantage of the power companies?'" Garamendi said. "Wall Street certainly tries to take advantage everywhere it can. But there are always risks to running a business … The way that this sector has been abused before, the Enron situation, that isn't applicable here."
The bills to be considered Wednesday also include legislation from Rep. Jim Himes (D-Conn.) -- another Goldman alum -- that would roll back Dodd-Frank's ban on taxpayer support for some kinds of derivatives trades. Himes has defended his bill as a way to ensure that more regulators oversee derivatives, though the measure is opposed by the Americans for Financial Reform.
Another bill would force the Commodity Futures Trading Commission, a regulator with derivatives responsibility, to conduct economic cost-benefit analyses for new agency rules using guidelines that would be more favorable to Wall Street banks. If the proposed rules failed the test, they could not be imposed.
If recent history is any guide, this is perhaps how the Cyprus situation will be "resolved":
The ECB/EU, likely in combination with the IMF (plus Russia and the Fed), will provide the full amount of the bailout, ostensibly on a "short term, stopgap basis", pending the final determination of which depositors pay how much. Additional emergency funding will be provided in order to insure banks can meet withdrawals, which will peak the first day of re-opening, then taper off when depositors see their cash is available. Russian Govt money will also play a role.
In return for the "temporary" funding, the Cypriot Parliament will promise to come up with a "fair" way to charge depositors for the privilege of owning wealth.
For the next few months all sides will argue about the final solution, with periodic rumors about "progress in the Cypriot Crisis" leading to knee jerk market and EUR rallies. Eventually the short term stopgap funding will become a permanent part of Cyprus' capital structure (everyone will forget by then that the Germans gave in), interest rates on bank deposits will be capped well below the recent 11% offered, and very large depositors (>250K EUR) will be "taxed", accompanied by the comment that such depositors are either rich people (the class warfare argument) or foreigners laundering ill-gotten gains. Putin will (selectively) make good on lost Russian depositor money, calling the ones he does not make good (i.e., those who oppose him) "a criminal element". Russia will also sign a gas deal with the Govt of Cyprus in lieu of being repaid on whatever stopgap funding Russia provides in the next few weeks. Russia knows he who hesitates loses Cypriot gas to China (or maybe Qatar).
Deposit levels in peripheral banks only fall slightly (<5%), and largely a result of sizeable depositors moving funds, as small depositors feel safe again seeing that no small depositor in Cyprus lost anything. Target2 imbalances deteriorate again, but Eurocrats believe that will be as temporary as it was before Draghi jawboned Spanish and Italian yields lower.
After the end of the Fed meeting Wednesday, the statement will reaffirm the Fed's committment to print until Doomsday, plus swap lines to the ECB will be opened wide yet again, further ameliorating the market anxiety.
Extend and pretend works until it doesn't. Next stop for the Crisis Genie: France (large French deposits move to Switzerland, Germany, Singapore and possibly the US---all of which pressures big French banks over the next 3-6 months).
By next Friday (end of the quarter 29 March), all is forgotten, at least for while. In the end, the EU will have come to decide that the pittance paid to Cyprus (relative to the EU whole) required to keep the eventual endgame at bay is worth more than having to face the ultimate reality now. In the meantime, they can continue to hope for a real final solution that doesn't exist, and the ostriches' heads can go back in the sand.
Chindit is spot on again...
So we will get a shortsqueeze as usual.
Expect a market rally of 2-3% very soon
Oh this getting better by the minute from wires:
New Zealand
*RBNZ Dep Gov Grant Spencer refuted claims likening moves to resolve the banking problem in Cyprus to the RBNZ’s proposed Open Bank Resolution (OBR).
"clear irreconcilable differences" between the North and the South of Europe"
That's not how I am hearing things from an Eastern European perspective. The Russians will pay the 10B Cypriot bribe but expect major capital outflow from England proper for this.
The Russians are not a happy group of campers right now. That's just one source from Russia. DYODD. Socchi Olympics plays into this from what I hear.
Edit: OK, I was informed by a reliable source and one that I can confirm as reliable is that some 30 billion usd has been wasted on Socchi and the place will not be ready to go come the next winter Olympics. The Russian national stated to me: "I would not compete here. Someone will die, mark my words. The whole thing is a running joke." The source is also from the area and states that it is a running joke there as to how much theft of state funds is occurring.
I stated that it could not be worse than D.C. but the source insisted that it was somehow worse and sent this link which I can not read any better than you can. There could be some concern for alarm though via the pictures and dates. Yes, I know...loveopium...that's to fuck with you from RU.
http://loveopium.ru/sport/olimpijskaya-strojka.html
Except for no snow and the little people being expropriated, the place looks awesome.
http://translate.google.com/translate?sl=auto&tl=en&js=n&prev=_t&hl=en&i...
Translated page
There's a steady stream of cars (with their trunks full of money) heading north to Norway (and similar) to deposit in a "safe" place I suspect. Can't blame 'm. Why should innocent savers pay the price for banker mistakes?
How would they drive from Cyprus to Norway ? Norwaegian flagged ships run out of Cyprus and Norwegians live in Cyprus. It is a centre for shipping which is why the President of Cyprus is a Shipping Attorney with a background in Maritime Law. Why would anyone non-American drive from low-tax Cyprus to high-tax Norway with carloads of cash ?
Oh and btw I just smoked an entire pack of cigarettes and drank a 2 liter of pop in 2 hours, and my BMI is half of 90 percent of the people I see and I feel great. The cigarettes and pop are not the defects the government is. 13 dollars for a pack - blow me. In case you didn't know alcohol - a known cancer causing agent is New York's third largest import. Bottoms Up!
For me is fun to watch Farage kicking some useless eurokrats asses.But i dont trust him full.When he will start kicking City of London and WallStreet asses?Gerald Celente is more honnest.
+5
What is odd to me is a politician encouraging a bank run.
Yes, he says a lot of great things, but this one was reckless.
You misunderstand. The actions to date before him already encourage a bank run. What Farrage suggests is that some people act now to SURVIVE a bank run instead of being ripped off completely. Anyone staying in the banks now is committing financial suicide.
Monedas' Message To Europeans: "Get your money into a tin can !" Most of those Cyprus fucks couldn't fill a tin can with warm piss .... let alone silver !
Large transfer from savings to checking complete today. Will be taking delivery of the fiat and turning it into real money on Friday.
This shit's broken beyond repair.
South Korean computer networks out.
http://english.yonhapnews.co.kr/national/2013/03/20/80/0302000000AEN2013...
He knows the UK is on the brink of collapsing. Today Cameron will order the BofE to print more money.
The big question, will the UK be the first country in the world that can monetize its whole economy.
Farage, all whats goes arround comes arround. And no, Jaguar export will not save the UK as you try to lie to your people.
Blacked out vans, contingency plans.
They like death and glory.
They love a good story.
You better run on home.
Nigel is the man.
Now who would you say is the American version of Farage? Ron Paul? Max Keiser?
Eurogroup Chairman Jeroen Dijsselbloem Should Resign For Trying To Confiscate Bank Savings. Long Live the Individual Financial Liberty And Freedom of all Cypriotic and European citizens and foreigners no matter the size of the savings!
Please like and share this facebook page if you agree!
http://www.facebook.com/pages/Dijsselbloem-should-resign/410669842362350
Interesting what the Austrian Finance Minister said:
She said she would have liked to see a debt haircut imposed on bondholders of major Cypriot banks rather than the controversial levy on deposits.
"Germany, the International Monetary Fund and Austria as well would have preferred a bail-in, but France and a large part of the other ministers preferred this levy," she said.
So the idea of stealing from Depositors was to protect Bondholders. it sounds like French Bondholders whom Mme Lagarde of the IMF is there to protect
http://euobserver.com/economic/113598
AM I reading U right?
That link is dated : Sept 2011 !
R u saying its a repeat performance?
On CYprus thingie, Schauble and Moscovici came out with contrary logics and I posted it on ZH; somewhere yesterday.
like here : 3349118
The URL was simply to back up the point the French were exposed, but the Austrian Finance Minister's comments are current. Sorry if there was any confusion
Nigel Farage, just another pig at the trough!
Chase Customers See Bank Balance Reduced to Zero
http://www.infowars.com/chase-customers-see-bank-balance-reduced-to-zero/
Don't know why ZH thinks the sun shines out Nigel Farage's arse. To most of us British people he is considered a buffoon.
Quite right. Just one more Brit out to bad mouth the continent (while enjoying its wines and beaches).
South Korean banks and media report computer network crash
Read more: http://www.foxnews.com/world/2013/03/20/south-korean-banks-and-media-rep...
Tyler, 1) Three pages of comments. How is site traffic, lately? I'll bet it went parabolic.
2) Coup de tax. Love it. Why didn't you think of that one?