On Behaving Badly

Tyler Durden's picture

From Mark Grant, author of "Out of the Box"

The Understatement of Behaving Badly
When governments begin doing things that are extreme and outside of the normal patterns of behavior then it is not a stretch to say that they are in trouble. They are responding this way because they are in a critical and perhaps life threatening situation. They do not tell the truth about sovereign finances and cover up everything at the ECB but they must be looking at the real numbers and experiencing some sort of epileptic fit.


"Government is either organized benevolence or organized madness; its peculiar magnitude permits no shading."


                   -John Updike

First we had a retroactive change of a bond indenture in Greece. It was called a "one-off" event. Then we have the confiscation of depositor's money in Cyprus; every penny over one hundred thousand Euros. What is given in return is 37.5% of your money converted to shares in a bankrupt financial institution and I am sure the shares will be restricted in some fashion. It is being called a "one-off" event. I fear that something is widely amiss in Europe.
Next we have Monsieur Hollande in France calling for a 75% corporate tax rate for any salary over one million Euros. This is clearly a tax on the wealthy. "Do not succeed or the government will take your money" is the clear message.
What other "one-off" events may we now expect? A wealth tax on bond coupons perhaps in Europe? A wealth tax on dividends? If private property in a bank can be confiscated then they can take what they like and when they want it. In the case of "Eminent Domain" in the United States the property owner must be given "fair value." On the Continent the European Union has now sanctified, legally blessed, the seizure of private property and the "fair value" return of Zero. It is not just Cyprus you understand but the entire government of Europe that has just mandated the confiscation of bank accounts in one of their member countries and what is given in return to the depositors is some worthless piece of paper; worthless.
Then this morning we are given the newest news. The Communications Minister of Cyprus announced today that the deposits of the European Union in Cyprus over the one hundred thousand Euro mark would not be impacted. In other words, they will not be expropriated so that while every other depositor will lose their money; not the European Union. “This development secures the smooth flow of resources from EU funds to Cyprus, and the continuation of any projects underway,” he said and called it a "happy development."

"Though this be madness, yet there is a method in it."


               -William Shakespeare

When the Lunatics Have Taken Over the Asylum
I would say that you can now speculate in Europe. I would say that you can bet in a manner no different than a casino. Actually no; I would say it is worse. You can put your money down and then the dealer can say, "New Rules, Game Change; all the money on the table is required for the House and it is now mine."
If you had suspicions before; they have been confirmed. Anything, everything can and might be done and then justified by the unwillingness of the nations in Europe to pay for any more of a troubled country's difficulties. Whatever boundaries that existed have been breached. There is no Law, no fences and no limits. First Greece and now Cyprus and Pandora has raised the lid on her Box.

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GetZeeGold's picture



I get my kicks above the waistline Sunshine.


Siam's gonna be the witness to the ultimate test of cerebral fitness.

CH1's picture

States are robbers by their inalienable nature.

The essential operation of the state is to take money (or other valuable things) by force. Without this operation, they could not exist.

kaiserhoff's picture

There is no Law, no fences and no limits.

Just so.  The EU "Leaders" will soon discover they have sold their birthrights for a mess of pottage.  Those who have everything to lose by lack of respect for law, have slaughtered their own legitimacy.

Ahmeexnal's picture

This article is complete rubbish.
Everyone knows europe is the birthplace of civilization, of mankind, of law and order, of human rights, of liberty, of the universe.
So now children repeat after me once more:

Double.Eagle.Gold's picture

Tyler -- please offer a service level (paid) that eliminates the fucking advertisements.

I'm starting to hate this fucking site.

fuck it, ads up the asshole. fuck.


Holleyman's picture

Nuke it from orbit, it's the only way to be sure.

AGoldhamster's picture

You (yes you too!) will soon get what you are calling for.


What you talkin about Willis's picture

Is this song about fucking Ladyboys?

GetZeeGold's picture



It's about not screwing ladyboys. Thanks....but no thanks.

AmCockerSpaniel's picture

Pandora was a ship, and her box was a jail.

pcrs's picture

I think governments love crisis. It gives them always an enormous opportunity to increase their powers. 'Never let a good crisis go to waste' it is said. The usa did not have an income tax until WWII. It was then installed as emergency and never abolisched in an ongoing threat, cold war environment. 

These crisis are great for them, that is why they bring them about.

CH1's picture

I think governments love crisis.


Productive and confident people have no need of a central thug. Guvs NEED people to be scared.

WTFx10's picture

Better go back to the history books, USA imposed an INcome TAX when the Private Banksters took over 1913. It's called extortion when its not the government doing it.

Government= Pay or go to Jail, and they take everything you think u own.

Organized crime= Pay or get the shit kicked out of you and lose everything u think u own.

Difference? We pay for our own slavery when the government does it.

“The men that American people admire most extravagantly are the most daring liars; the men they detest the most violently are those who try to tell them the truth.”  HLMencken

"The issue which has swept down the centuries and which will have to be fought sooner or later is the people versus the banks."

"And remember, where you have a concentration of power in a few hands,(banksters) all too frequently men with the mentality of gangsters get control. History has proven that."
John Dalberg Lord Acton

History is a beautiful thing its just no one bothers listening to it.

mendigo's picture

Really good point.
I think maybe they are punishing Cyprus and attempting to make others think twice about resisting the will of they eu. Why the Cypriot president does not tell them to shove it is beyond me. If the Cypriots can pull it together they can acheive something great - perhaps the BRICs can step in.

mendigo's picture

Really good point. I think maybe they are punishing Cyprus and attempting to make others think twice about resisting the will of they eu. Why the Cypriot president does not tell them to shove it is beyond me. If the Cypriots can pull it together they can acheive something great - perhaps the BRICs can step in.

NeoLuddite's picture

Problems are opportunities in disguise. Conversly opportunities are problems in disguise.

Life is a menu - you're either reading it or on it.


MinnesotaMD's picture

I remember an old PBS show hosted by Kenneth Clarke called "Civilisation". He thought we pulled through the Middle Ages " by the skin of our teeth".

Will we pull through this time? There is a parent-less barbarism in society. Everything, every institution just looks bankrupt by any definition. Religion had held things together in the past. Families did too. What fills the void in modern man? Activision? Electronic Arts? Google? There is a soulessness afoot.

Couple years ago I figured I could just run my own affairs differently, and could happily be left out of this derangement. Now I am not so sure. The bell will toll for all it seems.

BadKiTTy's picture

"I knew a girl called Pandora.... never saw her box though" Rees Ifans in Notting Hill 

On more serious matters > "Now this is not the end. It is not even the beginning of the end. But it is, perhaps, the end of the beginning." - Winston Churchill

We have a long way to go with this and very doubtful that many (of the 99) will escape.  


gould's fisker's picture

I hate to break it to you bitchez, but I found a reason to have hope for the world this morning:



spine001's picture

Stephen Hawkins thinks the next hundred years will be the toughest for humankind he doubts whether we will survive...

PrintemDano's picture

I  look forward to Stephen Hawkins last breath.  A waste of oxygen.

AGoldhamster's picture

I'm scratching my head and wondering what is so difficult to stop all this nonsense.

Which is to stop banks to speculate with other poeples money.

If they want to speculate (taking bets, and worse bets with leverage) - hey friends use your own money.

With customers money - no speculation. Just use it for creditlines for everything useful for the economy. Just NOT bets and speculation. Bonds, equities, ... yes with your own money, NOT with customers. Period.


Why is it so difficult to implement this into law?!

I know because politicos are sponsered and bought by the bankers. So bankers have the say and politicos are just servants.

Still - that IS the way to go. If not - 1929ff.
Either this or that.
You choose.

As there is likely no choice anymore left - as politicos are just corrupt anymore - I have it with Jim Sinclair - you have to be out of the system.


From Sinclairs site:


We will expand on this over time, but you are “out of the system” if:

1. Your equities are held in certificate form.

2. You have no Federal retirement funds.

3. You have no CDs and investments in bonds.

4. You have modest money deposited among selected BRICs countries.

5. You store your own precious metals.

6. You have no mortgage obligations.

7. You keep cash on hand for 6 months expenses.

8. You have no consumer debt at all.

9. You have a small hobby farm for protein and veggies outside of where you are living with no mortgage debt, set up green.

10. You have a gas, diesel or electric car with high fuel mileage for the farm.

11. You have a generator with large fuel capacity for the farm.

12. You do not live in a major metropolitan area.



orez65's picture

To make the financial madness:

1. Outlaw fractional reserve banking under the penalty of death

2. Allow competing currencies.

RSBriggs's picture

Step 0 - obtain some politicians that aren't owned by the bankers.

Urban Redneck's picture

The Brussels & Berlin kleptocrats didn't even think to pull out their "own" money before they screwed the pooch and now they want a do-over (which only they are allowed to partake in)?

The Archbishop needs to cut with the blaming of generic "office holders" and name actual people to be literally crucified for their actual sins.



Monedas's picture

All the electronic fiat is out there .... enough to cause runaway inflation .... if the pipples are allowed to withdraw it .... and spend it .... or make a lifestyle change .... and buy .... gold .... aaaaaarrrrrrgggghhhhh !       

Monedas's picture

Papa Francis d'Assisi: Governor Jerry Brown the Assessor               ..............          Moral: Beware of people who disdain their palaces to live in humble quarters .... they have bigger plans for you !

Dewey Cheatum Howe's picture

Speaking of bad behavior. More posturing and preening or do they actually mean it. North Korea officially declared war on South Korea today.


(Reuters) - North Korea said on Saturday it was entering a "state of war" with South Korea, its latest bout of angry rhetoric directed at Seoul and Washington, but the South brushed off the statement as little more than tough talk.

Actual state declaration in Korean. Apparently in the new normal nation states declare war on twitter now.



Full war declaration statement from DPRK (via KCNA):

The moves of the U.S. imperialists to violate the sovereignty of the DPRK and encroach upon its supreme interests have entered an extremely grave phase. Under this situation, the dear respected Marshal Kim Jong Un, brilliant commander of Mt. Paektu, convened an urgent operation meeting on the performance of duty of the Strategic Rocket Force of the Korean People's Army for firepower strike and finally examined and ratified a plan for firepower strike.

The important decision made by him is the declaration of a do-or-die battle to provide an epochal occasion for putting an end to the history of the long-standing showdown with the U.S. and opening a new era. It is also a last warning of justice served to the U.S., south Korean group and other anti-reunification hostile forces. The decision reflects the strong will of the army and people of the DPRK to annihilate the enemies.

Now the heroic service personnel and all other people of the DPRK are full of surging anger at the U.S. imperialists' reckless war provocation moves, and the strong will to turn out as one in the death-defying battle with the enemies and achieve a final victory of the great war for national reunification true to the important decision made by Kim Jong Un.

The Supreme Command of the KPA in its previous statement solemnly declared at home and abroad the will of the army and people of the DPRK to take decisive military counteraction to defend the sovereignty of the country and the dignity of its supreme leadership as regards the war moves of the U.S. and south Korean puppets that have reached the most extreme phase.

Not content with letting B-52 make sorties into the sky over south Korea in succession despite the repeated warnings of the DPRK, the U.S. made B-2A stealth strategic bomber and other ultra-modern strategic strike means fly from the U.S. mainland to south Korea to stage a bombing drill targeting the DPRK. This is an unpardonable and heinous provocation and an open challenge.

By taking advantage of the U.S. reckless campaign for a nuclear war against the DPRK, the south Korean puppets vociferated about "preemptive attack" and "strong counteraction" and even "strike at the commanding forces", openly revealing the attempt to destroy monuments symbolic of the dignity of the DPRK's supreme leadership.

This clearly shows that the U.S. brigandish ambition for aggression and the puppets' attempt to invade the DPRK have gone beyond the limit and their threats have entered the reckless phase of an actual war from the phase of threat and blackmail.

The prevailing grim situation more clearly proves that the Supreme Command of the KPA was just when it made the judgment and decision to decisively settle accounts with the U.S. imperialists and south Korean puppets by dint of the arms of Songun, because time when words could work has passed.

Now they are openly claiming that the B-2A stealth strategic bombers' drill of dropping nuclear bombs was "not to irritate the north" but "the defensive one". The U.S. also says the drill is "to defend the interests of its ally". However, it is nothing but a lame pretext to cover up its aggressive nature, evade the denunciation at home and abroad and escape from the DPRK's retaliatory blows.

The era when the U.S. resorted to the policy of strength by brandishing nuclear weapons has gone.

It is the resolute answer of the DPRK and its steadfast stand to counter the nuclear blackmail of the U.S. imperialists with merciless nuclear attack and their war of aggression with just all-out war.

They should clearly know that in the era of Marshal Kim Jong Un, the greatest-ever commander, all things are different from what they used to be in the past.

The hostile forces will clearly realize the iron will, matchless grit and extraordinary mettle of the brilliant commander of Mt. Paektu that the earth cannot exist without Songun Korea.

Time has come to stage a do-or-die final battle.

The government, political parties and organizations of the DPRK solemnly declare as follows reflecting the final decision made by Kim Jong Un at the operation meeting of the KPA Supreme Command and the unanimous will of all service personnel and people of the DPRK who are waiting for a final order from him.

1.From this moment, the north-south relations will be put at the state of war and all the issues arousing between the north and the south will be dealt with according to the wartime regulations.

The state of neither peace nor war has ended on the Korean Peninsula.

Now that the revolutionary armed forces of the DPRK have entered into an actual military action, the inter-Korean relations have naturally entered the state of war. Accordingly, the DPRK will immediately punish any slightest provocation hurting its dignity and sovereignty with resolute and merciless physical actions without any prior notice.

2. If the U.S. and the south Korean puppet group perpetrate a military provocation for igniting a war against the DPRK in any area including the five islands in the West Sea of Korea or in the area along the Military Demarcation Line, it will not be limited to a local war, but develop into an all-out war, a nuclear war.

It is self-evident that any military conflict on the Korean Peninsula is bound to lead to an all-out war, a nuclear war now that even U.S. nuclear strategic bombers in its military bases in the Pacific including Hawaii and Guam and in its mainland are flying into the sky above south Korea to participate in the madcap DPRK-targeted nuclear war moves.

The first strike of the revolutionary armed forces of the DPRK will blow up the U.S. bases for aggression in its mainland and in the Pacific operational theatres including Hawaii and Guam and reduce not only its military bases in south Korea but the puppets' ruling institutions including Chongwadae and puppet army's bases to ashes at once, to say nothing of the aggressors and the provokers.

3. The DPRK will never miss the golden chance to win a final victory in a great war for national reunification.

This war will not be a three day-war but it will be a blitz war through which the KPA will occupy all areas of south Korea including Jeju Island at one strike, not giving the U.S. and the puppet warmongers time to come to their senses, and a three-dimensional war to be fought in the air, land and seas and on the front line and in the rear.

This sacred war of justice will be a nation-wide, all-people resistance involving all Koreans in the north and the south and overseas in which the traitors to the nation including heinous confrontation maniacs, warmongers and human scum will be mercilessly swept away.

No force on earth can break the will of the service personnel and people of the DPRK all out in the just great war for national reunification and of all other Koreans and overpower their might.

Holding in high esteem the peerlessly great men of Mt. Paektu, the Korean people will give vent to the pent-up grudge and realize their cherished desire and thus bring a bright day of national reunification and build the best power on this land without fail

CheapBastard's picture
Most Illinois metro areas see jobless rates rise Most of Illinois' metro areas see spikes in unemployment in February




I thought I'd mention this tidbit which is usually hidden on page 34 of any MSM newspaper.

Monedas's picture

North Korea is bluffing .... they only have enough food and fuel to fight for a couple of weeks !

TPTB_r_TBTF's picture

two weeks is more time than they need.

Monedas's picture

I'd like to see that idiot prosecutor Menini (sp?) (who prosecuted Amanda Knox) go after the captain of the Costa Concordia .... when are they going to prosecute him ? Cosa Nostra !

HurricaneSeason's picture

With blackjack they print the rules on the table. I guess the banks do too when they say $100K or $250K federally insured.  It doesn't say insured against a solar power invsetment, mortgage backed security investment or Greek bond investment by the bank, as far as I know.  I think they raised some federal insurance on accounts during the crisis. It should have been clear that the first $100K was insured by the government and the rest was a casino bet.

steve from virginia's picture



It's hard to see how this plays out but no one in the EU or the sovereigns seems to have the gravitas to ... lead the Europeans out of the maelstrom.


Acts of desperation do not provide the predictablity that markets require; soon enough all acts are perceived to be acts of desperation. The process is self-amplifying and seems to be out of control in the EU.


It's clear that the so-called 'goods' that remain in Europe are worth exactly zero, there would be no reason why the money-claims against these goods would be worth anything more. There is nothing to be gained by stealing nothing and making citizens miserable-excitable at the same time.


 - The euro is kaput. If it lasts another week it will be a surprise. It's possible that crushing Cypriots was a tactic to detonate the euro with the blame falling on Cyprus. If this is so, what comes next? Germany submerged by European liabilties and the rest with depreciating currencies. How do the Europeans get fuel with no usable money?


A: they don't.


 - The European sovereigns are fools. Not one has any imagination or courage. They are just a bunch of car dealers. It took five whole days for the Troika to railroad the (latest) Cypriot government into blowing itself up. The other states have been subordinated to the Troika by similar means. By destroying mid-level institutions and their credibility, the EU bosses eliminate the means by which the EU might save itself.


 - Europe has a fuel problem, a much bigger problem is the absence of any discussion about Europe's fuel problem. Seen through a Peak Oil prism, Europe's problems make sense ... and sound the alarm for the US and the rest of the world.


Conserve or else ... you will be forced to conserve by forces outside anyone's control.



mendigo's picture

Don't you think that the eu off'ed Cyprus as an example to other nations considering resisting the Borg?

falak pema's picture

Pandora, naughty girl, and all those Keynesian evil spirits that have escaped from your box! 

Statism is what statism does; Caesar and his Colosseum and the massacre of innocents! 

Mototard at Large's picture

For God’s sake, please don’t tell anybody outside of the ZH forum, but I hacked into the Bureau of Labour Statistics (BLS) last night to find out their secret statistics-making methods.  I found an encrypted file marked “statistics production” and this was what was in it.  They use:


Anthropomancy – the entrails of unemployed men are read to determine U6 figures.


They have a series of other methods to find other economic statistics. They include  Gastromancy (U3) , Gyromancy, Myomancy, Omphalomancy , Onychomancy, Tyromancy, Belomancy and Necromancy (401K stuff. You really do not want to know about the last one.....)  

ZH readers can see the full report at:  http://tinyurl.com/cwm8e3s

TheObsoleteMan's picture

The above scenero {put your $ down, dealer says;"Rule changes, new game.." is exactly what happened to the Hunt Brothers back in 1980. They put their $ down, and the Comex {who had lost the game, unless they did this} changed the rules for trading silver. Let that be a lesson to you all. We are dealing with gangsters, who will win at whatever the cost. They tipped their hand over thirty years ago {no pun intended} as to how far they will go to win {read: take your $}.