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Europe Has Become A Totalitarian State

Tyler Durden's picture





 

Submitted by Mark J. Grant, author of Out of the Box,

The Cyprus Template
 
“What manner of men had lived in those days...who had so eagerly surrendered their sovereignty for a lie and a delusion?”
 
                   -Taylor Caldwell
 
Cyprus is absolutely the template for Europe now. It is just that the template is far worse than what is narrowly imagined.
 
It is not the small nation of Cyprus nor is it that the specifics of the criminality that was transacted in Cyprus which is any sort of template. This is not the center of the issue. It is what Cyprus means and the horrible implications of what took place.
 
I cannot issue a stern enough warning here. No words that I write will adequately embrace the transgression that has taken place in Cyprus. Any thought that you have that the Cyprus experience is a lone and isolated event that will not be repeated, in some form in the future, is going to be proven wrong.
 
Yesterday the Parliament in Cyprus narrowly passed the EU bailout. Part of this package included seizing 90% of the depositors’ money to help pay for the bailout. There was no due process of law, no bankruptcy proceeding, no judicial review of assets and, in fact, no law of any sort applied. Deposits were confiscated as mandated by the European Union and agreed to by the Cyprus Parliament. Europe demanded the seizure and that is what is critically important to understand and appreciate.
 
In Greece the EU demanded that the bond holders be penalized and to accomplish this they had Greece retroactively change the laws. In Cyprus Europe demanded the confiscation of depositors’ money. One + one still makes two and the template, when properly recognized, is that the European Union will do whatever they like and when they like it and to whom they like with little or no regard for existing laws. This is, quite frankly, the Soviet Union under the control of Stalin. To be more precise, given that all of this is formulated and approved in Berlin; this is Germany making the rules for their vassal states.
 
There is one set of guidelines for Germany now and Germany still operates under their own laws but when it comes to other nations in the European Union that are in financial difficulty there are no real laws left. All that there is now is the tyrannical demands of Berlin that must be obeyed to receive funds.
 
“It is more dangerous that even a guilty person should be punished without the forms of law than that he should escape.”
 
                      -Thomas Jefferson
 
The spirit of a 1930’s government “that must be obeyed” has returned to the Continent. To not recognize this is a mistake. To call it something more polite is inaccurate. To appease those who impose this autocracy does nothing except to slather the truth with falsehoods.
 
“Some of the cruelest tyrants in history were motivated by noble ideals, or made choices that they would call 'hard but necessary steps' for the good of their nation.”
 
                  -Jim Butcher, “Turncoat”
 
The European Union is controlled by Germany. The European Union no longer operates under the law; their laws or the laws of any singular nation. Europe has, in fact, become a totalitarian State. This is the template. This is the new reality!
 
“Single acts of tyranny may be ascribed to the accidental opinion of a day; but a series of oppressions, begun at a distinguished period and pursued unalterably through every change of ministers, too plainly prove a deliberate, systematic plan of reducing a people to slavery.”
 
                      -Thomas Jefferson

 


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Wed, 05/01/2013 - 17:32 | Link to Comment prains
prains's picture

thank god it's not;

 

wake up and smell the tranny!

Wed, 05/01/2013 - 17:34 | Link to Comment EmmittFitzhume
EmmittFitzhume's picture

Jesus. That's what I thought it said.  Almost got sick!

Wed, 05/01/2013 - 17:56 | Link to Comment lolmao500
lolmao500's picture

Jesus? Illegal! Freedom of religion down the tubes!

http://www.breitbart.com/Big-Peace/2013/05/01/Breaking-Pentagon-Confirms...

Breaking: Pentagon Confirms May Court Martial Soldiers Who Share Christian Faith The Pentagon has released a statement confirming that soldiers could be prosecuted for promoting their faith: "Religious proselytization is not permitted within the Department of Defense...Court martials and non-judicial punishments are decided on a case-by-case basis...”. 

The statement, released to Fox News, follows a Breitbart News report on Obama administration Pentagon appointees meeting with anti-Christian extremist Mikey Weinstein to develop court-martial procedures to punish Christians in the military who express or share their faith. 

(From our earlier report: Weinstein is the head of the Military Religious Freedom Foundation, and says Christians--including chaplains--sharing the gospel of Jesus Christ in the military are guilty of “treason,” and of committing an act of “spiritual rape” as serious a crime as “sexual assault.” He also asserted that Christians sharing their faith in the military are “enemies of the Constitution.”)

Wed, 05/01/2013 - 17:59 | Link to Comment McMolotov
McMolotov's picture

Nobody fucks with the Jesus.

Wed, 05/01/2013 - 18:01 | Link to Comment TeamDepends
TeamDepends's picture

Except you know who!!!!

Wed, 05/01/2013 - 18:32 | Link to Comment Fredo Corleone
Fredo Corleone's picture

The welfare of the people in particular has always been the alibi of tyrants, and it provides the further advantage of giving the servants of tyranny a good conscience.

- Albert Camus.

Wed, 05/01/2013 - 18:50 | Link to Comment AldousHuxley
AldousHuxley's picture

Germany is the victim for lending savings to worthless Europeans

Cyprus spent others' money

Germans produce engineered products.

Blame the Cyprus leaders for shortsightedness of living high on debt.

Wed, 05/01/2013 - 19:02 | Link to Comment lolmao500
lolmao500's picture

Germany is forced to bail out European countries... otherwise Deutsche Bank goes down and Germany down with it.

Wed, 05/01/2013 - 19:49 | Link to Comment Crtrvlt
Crtrvlt's picture

So fascism as in the end this is all done for the banks?

Wed, 05/01/2013 - 19:02 | Link to Comment Muddy1
Muddy1's picture

Europe Has Become A Totalitarian State, and the United States is right behind

 

Thu, 05/02/2013 - 00:15 | Link to Comment gorillaonyourback
gorillaonyourback's picture

Yep we r but when they start taking momey out of accounts. U have been warned. Think about this the top ten percent have 90 % of the wealth most people have maybe 3or4 thousand in an account if that. Its the rich snake eating its own tail

Wed, 05/01/2013 - 18:01 | Link to Comment Goldilocks
Goldilocks's picture

"Jesus saves sinners... and redeems them for valuable cash prizes" - John Wichers

Wed, 05/01/2013 - 18:47 | Link to Comment Strider52
Strider52's picture

So, it's OK to be gay in the military, but don't ever say the word "Jesus"?

Wed, 05/01/2013 - 19:27 | Link to Comment Meremortal
Meremortal's picture

If this is enforced equally there will be few or no Muslims serving in military by next year.

Wed, 05/01/2013 - 19:34 | Link to Comment Bangin7GramRocks
Bangin7GramRocks's picture

No! It just means you can't cram your make believe bullshit down the throats of every lower rank soldier or airman. Believe in fairytales all you want. Just keep it to yourself assholes!

Wed, 05/01/2013 - 21:32 | Link to Comment Augustus
Augustus's picture

The article made no mention that anyone was cramming anything on anyone.  There have been chaplins in the militaries for centuries. 

It is so wonderful to find someone such as you who knows the answers to all mysteries and can generate such a wonderful rant to express themselves.

Wed, 05/01/2013 - 22:13 | Link to Comment darteaus
darteaus's picture

Thank you for bringing your reason and tolerance to the discussion.

Wed, 05/01/2013 - 23:40 | Link to Comment buyingsterling
buyingsterling's picture

Bangin7GramRocks - your seven gram rocks are crack. If I had a dollar for every intellectual retard who complained about people 'cramming religion down their throat' I'd be Bernanke. Do you have the same infantile reaction about kids being taught the religion of materialism/moral relativism/evolution?

Look, whatever it is that you're doing when the lights are out is between you and the Creator. He still loves you regardless, just as he loves all of his children, even the likes of the morally putrid Obama and his bankster masters. Just try not to get your panties all bunched-up when the father of all tells you that certain things aren't good for you. That's what it's really all about for most of the God-haters. Many worship the goverment, which is an active and overt control freak, but HATE the idea of a guiding moral force which works only through persuasion. Grow up.

Wed, 05/01/2013 - 18:06 | Link to Comment thisandthat
thisandthat's picture

Funny when at the same time they're issuing scopes with Bible inscriptions on them...

Wed, 05/01/2013 - 22:28 | Link to Comment NoDebt
NoDebt's picture

Those inscriptions were put there by the scope manufacturer (company headed by a Christian).  I don't know if they are still doing it, were asked to stop doing it, or where exactly that landed.  Maybe somebody who followed that story to the end could chime in. 

Wed, 05/01/2013 - 18:24 | Link to Comment BillyBoy22
BillyBoy22's picture

Except if the DoD was strongly encouraging christian proselytyzing, or even just allowing it, you would be screaming RELIGIOUS TYRANNY

Wed, 05/01/2013 - 20:26 | Link to Comment WTFx10
WTFx10's picture

Weinstein, wtf

ASHINGTON, GEORGE, in Maxims of George Washington by A. A. Appleton & Co.

    "They (the Jews) work more effectively against us, than the enemy's armies. They are a hundred times more dangerous to our liberties and the great cause we are engaged in... It is much to be lamented that each state, long ago, has not hunted them down as pest to society and the greatest enemies we have to the happiness of America."

This prophecy, by Benjamin Franklin, was made in a "CHIT CHAT AROUND THE TABLE DURING INTERMISSION," at the Philadelphia Constitutional Convention of 1787. This statement was recorded in the dairy of Charles Cotesworth Pinckney, a delegate from South Carolina.

    "I fully agree with General Washington, that we must protect this young nation from an insidious influence and impenetration. The menace, gentlemen, is the Jews.
    In whatever country Jews have settled in any great number, they have lowered its moral tone; depreciated its commercial integrity; have segregated themselves and have not been assimilated; have sneered at and tried to undermine the Christian religion upon which that nation is founded, by objecting to its restrictions; have built up a state within the state; and when opposed have tried to strangle that country to death financially, as in the case of Spain and Portugal.
    For over 1,700 years, the Jews have been bewailing their sad fate in that they have been exiled from their homeland, as they call Palestine. But gentlemen, did the world give it to them in fee simple, they would at once find some reason for not returning. Why? Because they are vampires, and vampires do not live on vampires. They cannot live only among themselves. They must subsist on Christians and other people not of their race.
    If you do not exclude them from these United States, in their Constitution, in less than 200 years they will have swarmed here in such great numbers that they will dominate and devour the land and change our form of government, for which we Americans have shed our blood, given our lives our substance and jeopardized our liberty.
    If you do not exclude them, in less than 200 years our descendants will be working in the fields to furnish them substance, while they will be in the counting houses rubbing their hands. I warn you, gentlemen, if you do not exclude Jews for all time, your children will curse you in your graves.
    Jews, gentlemen, are Asiatics, let them be born where they will nor how many generations they are away from Asia, they will never be otherwise. Their ideas do not conform to an American's, and will not even thou they live among us ten generations. A leopard cannot change its spots. Jews are Asiatics, are a menace to this country if permitted entrance, and should be excluded by this Constitutional Convention.

Wed, 05/01/2013 - 21:16 | Link to Comment stormsailor
stormsailor's picture

always heard there were no atheist in foxholes.  i wonder if it ever gets down to a "die hard' situation if our young men might want communion or a prayer.

 

been in a few tight spots, and said a prayer or two.   it helped.

Thu, 05/02/2013 - 05:47 | Link to Comment darkpool2
darkpool2's picture

Might have "helped " you get through a tight spot, but it didnt help change the reality of the situation you were in !

Wed, 05/01/2013 - 22:20 | Link to Comment Nehweh Gahnin
Nehweh Gahnin's picture

Interesting.  I wonder if that includes their own chaplains.

This is really interesting.  I normally don't touch religious discussions simply because I don't have anything nice to say.  But this points to segmentation based upon what the state is seeing of the public dialogue.  The state is keeping its options open, and finding itself competing with this cohort in certain areas (ammo, preps, ideological cohesion).  The Christians also did not, in any substantial way, pile on to the government's dog & pony show with the Tsarnaev Bros.  I think that was unexpected, and alarming.  The propaganda memes are breaking down, as everything else continues spinning.

They come for the Christians now.  I am not a Christian.  But I am not going to wait for TPTB to work their way down to me.  I am with you.  You talk to each other about whatever you need to, and stand together.  Tell the authorities to fuck themselves on that.  You will take casualties, at least involving prison for some, and more for others.  Do it anyway.

In this way, we will learn about each other.  The state does not want that.  It wants to divide us.  Our commerce and conversation is toxic to them.

See.  Decide.  Resist.

Wed, 05/01/2013 - 17:57 | Link to Comment Citxmech
Citxmech's picture

That second Jefferson quote is amazing.

Wed, 05/01/2013 - 22:47 | Link to Comment Dull Care
Dull Care's picture

Amazing and more importantly prophetic.

Wed, 05/01/2013 - 17:53 | Link to Comment Aeternus
Wed, 05/01/2013 - 17:36 | Link to Comment HyperinflatmyNutts
HyperinflatmyNutts's picture

First off I would like to give a BIG FUCK YOU to Bernanke!!

Forget Europe it is happening here.... 

Wed, 05/01/2013 - 17:44 | Link to Comment Sudden Debt
Sudden Debt's picture

europe... america... where's the difference. we're all fucked and whatever the puppetshow shows us, the damages are done and can't be reversed.

Thu, 05/02/2013 - 05:06 | Link to Comment Urban Redneck
Urban Redneck's picture

Unfortunately, there isn't much difference except for a lower cost of living and lower level of sophistication.  My wife's godson got gang frisked walking through the train station on May Day with the backpack he borrowed from me.  Confusing a Brazilian for a Muslim isn't quite as ignorant as confusing as confusing a Sikh for a Muslim, and to an alert set of eyes, there would be something "out of place" with that backpack on a teenager, but if the American Fascist swine hadn't fucked up as usual, there wouldn't be any contagion to jump the pond and infect the Euro-species-

Wed, 05/01/2013 - 18:01 | Link to Comment johngaltfla
johngaltfla's picture

That's right. It is here now and just watch what happens when the masses wake up and realize all these "new new" improved security agencies answer to the political and financial elites and not to the people....

 

Obama’s SS is Here NOW

Wed, 05/01/2013 - 18:11 | Link to Comment pickupthatcan
pickupthatcan's picture

While I was tending my Skittle shitting unicorn, I kept hoping that a couple of the Joint Chiefs yell out "Sic Semper Tyrannus" during a White House briefing and start slitting some throats. 

Until then, we're fucked.

Wed, 05/01/2013 - 17:36 | Link to Comment kato
kato's picture

"...the tyrannical demands of Berlin that must be obeyed to receive funds."

Please spare the hyperbole: it is what happens when you fuck up and go broke.

Wed, 05/01/2013 - 17:42 | Link to Comment CrashisOptimistic
CrashisOptimistic's picture

Pretty much.

" the tyrannical demands of Berlin that must be obeyed to receive [German] funds"

Now, exactly what is wrong with that?

Wed, 05/01/2013 - 17:46 | Link to Comment LetsGetPhysical
LetsGetPhysical's picture

yeah I get a little tired of the meme. Pretty simple: Leave the Euro. Otherwise, STFU and live within your means. Can't have it both ways.  

Wed, 05/01/2013 - 21:41 | Link to Comment Augustus
Augustus's picture

That is about what I've been thinking as I read the criticisms of the Germans.

If the Germans have been living withing their means, and have performed the task to absorbing the broke economy of East Germany, why should they be made to send cash to Spain Or Cyprus?  The countries  needing the bailouts have no real plans to change the prime problem of overspending on generous benefits, except that the Greeks cannot get credit for the state to buy the stuff to give away.

The real meltdown will come when everyone recoginzes that Germany is more of a strong facade that covers the same unsustainable policies of the other Euroland countries.

Wed, 05/01/2013 - 17:37 | Link to Comment overhere2000
overhere2000's picture

If a debt can't be paid, it won't be paid.

Wed, 05/01/2013 - 17:40 | Link to Comment CrashisOptimistic
CrashisOptimistic's picture

Of course it will.  If it's not paid, the swaps explode and destroy the world.

Therefore there will be loans provided so that the debt can be paid.

Wed, 05/01/2013 - 18:24 | Link to Comment shovelhead
shovelhead's picture

And this is where Cyprus fucked up...

They had the ECB by the curlies and let go.

Buncha chickens.

Thu, 05/02/2013 - 00:56 | Link to Comment W74
W74's picture

My thoughts exactly.  They could've just said 'no.'

Wed, 05/01/2013 - 18:29 | Link to Comment Everybodys All ...
Everybodys All American's picture

The swaps will never be paid. Not a snowballs chance.

Wed, 05/01/2013 - 17:43 | Link to Comment Sudden Debt
Sudden Debt's picture

A banking buddy of mine told me that there are laws comming where everybody needs to downpay credit debt within a time limit of 48 months.
it will crush the cash strapped people even more.

Wed, 05/01/2013 - 18:22 | Link to Comment Poor Grogman
Poor Grogman's picture

The problem is that debt can't be paid off in a fractional reserve system.
It is mathematically impossible.
For some poor wage earner to pay off his debt some other entity must take on extra debt.

Enter the biggest debtor on earth...

Wed, 05/01/2013 - 19:35 | Link to Comment Meremortal
Meremortal's picture

What does "downpay" mean? Does it mean pay down? Because that wouldn't necessarily be onerous.

If it means "pay off" your banker buddy is pulling your leg.

Either way it would do wonders for the economy, just like the other nostrums that have been implemented. Bad wonders, but wonders. 

 

 

Thu, 05/02/2013 - 00:55 | Link to Comment W74
W74's picture

Hopefully that'll benefit savers as the credit-card debtors will have to liquidate assets.  I'm not for the erosion of liberties in this, but damn, people can just rack it up and then declare bankruptcy.

Wed, 05/01/2013 - 17:47 | Link to Comment McMolotov
McMolotov's picture

If you owe the bank $100 that's your problem. If you owe the bank $100 million, that's the bank's problem.

Wed, 05/01/2013 - 17:53 | Link to Comment Clycntct
Clycntct's picture

Words of wisdom- Just ask the Donald.

Wed, 05/01/2013 - 18:03 | Link to Comment Bunga Bunga
Bunga Bunga's picture

It's always the taxpayer's problem.

Fixed it for you.

Wed, 05/01/2013 - 18:12 | Link to Comment McMolotov
McMolotov's picture

LOL. Yeah, that should probably be the updated version.

Wed, 05/01/2013 - 19:33 | Link to Comment Meremortal
Meremortal's picture

It's always the depositers' problem.

Euro-fixed it for you.

 

Thu, 05/02/2013 - 02:04 | Link to Comment TBT or not TBT
TBT or not TBT's picture

You mean the sovereign deby holders problem, right.   A huge fraction of current spending is borrowed.

Wed, 05/01/2013 - 17:50 | Link to Comment bardot63
bardot63's picture

All debts are paid, either by those who make them or those who take them.  All are paid in the end.

Wed, 05/01/2013 - 17:43 | Link to Comment DoChenRollingBearing
DoChenRollingBearing's picture

Might as well just go to an "honest Third World Country" now like Peru rather than Europe!

Wed, 05/01/2013 - 17:44 | Link to Comment Oldwood
Oldwood's picture

Better cool it on the Peru thing. If things really start going badly, there could be a lot of people showing up at your door step.

Wed, 05/01/2013 - 17:58 | Link to Comment macholatte
macholatte's picture

 

 

Peru has coca ..... and it's legal..... number 1 cash crop for export.... if it was reported.

Wed, 05/01/2013 - 17:43 | Link to Comment Oldwood
Oldwood's picture

And none will leave the EU or the Euro, as printed fiat is better than no fiat and living in debt is prefferable to living in destitution. Debtor's prison baby.

Wed, 05/01/2013 - 17:50 | Link to Comment CrashisOptimistic
CrashisOptimistic's picture

Want to know why they won't leave the Euro?

Oil.

If they created their own currency and left the Euro, no oil producer would sell to them -- because their currency will be shit.  15,000 Greek Drachmas to the dollar, and if they try to print more the ratio will go to 30,000.

It's all about oil, the lifeblood of civilization.  It's not about anything else.

Wed, 05/01/2013 - 18:08 | Link to Comment markar
markar's picture

So how are borderline economies, ie  Hungary, etc not in the EZ managing to buy oil?

Wed, 05/01/2013 - 18:24 | Link to Comment Kirk2NCC1701
Kirk2NCC1701's picture

Exported agrarian products + tourism =  Euros = Oil + E320 + A6 + i325 + iWares

Wed, 05/01/2013 - 18:38 | Link to Comment CrashisOptimistic
CrashisOptimistic's picture

Hungary pumps 30K bpd.

They consume more than that but only about 100K bpd more and that much is available semi local (Romania). 

Inflation is only 5% there. 

Greece consumes 400K bpd.

Wed, 05/01/2013 - 17:41 | Link to Comment Sudden Debt
Sudden Debt's picture

well... if you ain't got your money out by now... thou luck I would say...
there where warnings for over 5 years now.

GOD : I FREAKING GAVE YOU A THOUSAND SIGNS!!! WTF!!!

Wed, 05/01/2013 - 17:47 | Link to Comment scatterbrains
scatterbrains's picture

OT but lots of freakishness starting to cluster up.. I'm curious what Arch Crawford is saying about the coming weeks if anyone knows ?

http://fiatflaws.blogspot.com/

 

Wed, 05/01/2013 - 17:51 | Link to Comment buzzsaw99
buzzsaw99's picture

Just because you're paranoid doesn't mean they aren't out to get you.

http://2.bp.blogspot.com/_woU5s2fwbZo/Sgwpz0X89TI/AAAAAAABC-g/4B_AKBd-F8...

Wed, 05/01/2013 - 17:50 | Link to Comment falak pema
falak pema's picture

Cyprus is the template for the fight between statist oligarchy and stateless oligarchy.

It has always been a LAWLESS state as it is a rogue's paradise. And its not the only one; Malta, Luxembourg, the list is too long as it includes the City of London and Wall Street and surrogate Delaware and Caymanista lands; all outside the bale of state's law, WITH THE CONNIVANCE OF CURRENT CRONY POWER IN these so called STATES of law and order under democratic flag.

Get your story rught...Grant of oligarchy slant. 

The trouble with meltdown of riches under debt axe is that the oligarchy becomes openly a bunch of thieves falling out instead of being the best and brightest of land of free they are iconised to be. 

Wed, 05/01/2013 - 17:48 | Link to Comment lolmao500
lolmao500's picture

In the 30s Germany, people WORSHIPPED Hitler. Women fainted when they saw him.

I don't think this is the same thing today... if Europeans have sunk as low as worshipping trash like Herman Von Rompoy... we should nuke them into oblivion for their own sake.

Wed, 05/01/2013 - 19:39 | Link to Comment Meremortal
Meremortal's picture

Well, women faint over Obama too...

Wed, 05/01/2013 - 22:05 | Link to Comment darteaus
darteaus's picture

Another Socialist.

Wed, 05/01/2013 - 20:22 | Link to Comment ross81
ross81's picture

the funny thing is Hitler had way more of an electoral mandate than Van Rompuy or any of our European El Presidentes ever will.

Wed, 05/01/2013 - 21:46 | Link to Comment Augustus
Augustus's picture

I have not looked it up again, but I don't believe Hitler was ever elected.

Thu, 05/02/2013 - 00:52 | Link to Comment Trampy
Trampy's picture

You should look it up again and try a little harder.

Wed, 05/01/2013 - 17:50 | Link to Comment Darth Hayek
Darth Hayek's picture

Definition of irony, the latest French attempt to keep Germany under its thumb backfires collossally.  Again.

The French aren't very good at this, are they...

Wed, 05/01/2013 - 19:00 | Link to Comment Strider52
Strider52's picture

It is WRONG to be French.  - Al Bundy.

Wed, 05/01/2013 - 22:04 | Link to Comment darteaus
darteaus's picture

What about an accordian playing, skate board riding, French mime?

Wed, 05/01/2013 - 21:58 | Link to Comment malek
malek's picture

Exactly what I was thinking.

And Germany didn't even want the Euro! Oh the irony.

Wed, 05/01/2013 - 17:56 | Link to Comment JJ McApe
JJ McApe's picture

the funny thing is... everyone is hating on germany, while germany and its strong economy is carrying almost the whole eu and had paid billions into greece and cyprus as well.

:/ germany itself is not the enemy here, the euro and ecb are...

Wed, 05/01/2013 - 18:55 | Link to Comment Rustysilver
Rustysilver's picture

JJ McApe,

German companies went to Greece, Spain, Cyprus, etc and bribe the politicians in those countries. Siemens and other German companies sold them a lot of crap that those countries did not need or could afford. DB and other banks gave them the money to spend on German stuff.  Can't blame the people in those countries because they had very little to say.

Where were the adults in this situation.

Wed, 05/01/2013 - 17:54 | Link to Comment Goldilocks
Goldilocks's picture

"A good politician is quite as unthinkable as an honest burglar." - H. L. Mencken, US editor (1880 - 1956) 

Wed, 05/01/2013 - 18:02 | Link to Comment Kickaha
Kickaha's picture

The proverbial position between a rock and a hard place. 

The government is running such a large current budget deficit that it needs credit to fund current year operations, composed to a very large degree by transfer payments to keep its populace fed.  Ergo, default is not an option, because it would mean the end of those transfer payments and the end of civil society.

The government also has lost the ability to rollover the existing accumulated deficit built up over decades of political cowardice, so it looks outwards to find a source of capital to help with the rollover.

Criminals have always robbed banks, because that's where the money is.

I can't get excited over depositors losing 90% when the only other alternative at this stage of the end game is losing 100% when their banks go belly up due to a large portfolio of near worthless government bonds and toxic derivative investments.

Nor can I get excited about the prospects of the same thing happening in the USA, because it already is happening, albeit at a much slower pace, via ZIRP.

Less passivity and more due diligence decades ago might have allowed a different result presently.  The system is, to use a technical term, fucked, but individuals not residents of Cyprus still have time to remove themselves and their personal wealth from the system.

Wed, 05/01/2013 - 18:07 | Link to Comment Meat Hammer
Meat Hammer's picture

The banksters will steal all the money, go to their Eagle's Nests to watch everything burn, and then come back down from the mountaintop to start the process over again.  And the people will let them.

Wed, 05/01/2013 - 18:44 | Link to Comment prains
prains's picture

DHS = Dept. of Hired (gun)Slingers

 

 

connect the dots, it's what they're serving 3 squares a day

Wed, 05/01/2013 - 18:08 | Link to Comment thisandthat
thisandthat's picture

 

they had Greece retroactively change the laws

As we say, it's only prohibited by law, so why shouldn't they do it?...

Wed, 05/01/2013 - 18:22 | Link to Comment Melin
Melin's picture

Mr. Grant wants to have his Cypriot self-sacrifice and his German tyranny too.

Which is it?  Either Cyprus "eagerly surrendered" (and continues to pine for Germany's aid):

“What manner of men had lived in those days...who had so eagerly surrendered their sovereignty for a lie and a delusion?”

-Taylor Caldwell

Or:

Germany conquered it by "controlling" the EU? The peoples' representatives in financially troubled sovereign nations are under German. . .what?  Mind control?

Wed, 05/01/2013 - 23:49 | Link to Comment W74
W74's picture

Unless Germany is the new Jewpuppet.

Wed, 05/01/2013 - 18:18 | Link to Comment shovelhead
shovelhead's picture

Cyprus had a choice...they made it.

Go borrow from Vinnie to pay your gambling debts, then stiff him and see what happens.

Your kid ends up in a trunk.

Loan sharking is not a business you want to get involved in.

Cyprus learned this the hard way.

Wed, 05/01/2013 - 18:20 | Link to Comment news printer
news printer's picture
Young Plan

The reparations imposed on Germany (1929) should serve the payment of war damage in the Allied countries. The "National Committee for the German referendum" turned with various posters and leaflets to the German population to make atmosphere against the Young Plan. The right-wing initiators of the referendum saw the "lie of the German war guilt" the real reason for the "tribute" and called for an end of "slavery" and "slavish submission."

http://www.dhm.de/lemo/objekte/pict/p74-3797/index.html

http://en.wikipedia.org/wiki/Young_Plan

 

Wed, 05/01/2013 - 18:18 | Link to Comment Kirk2NCC1701
Kirk2NCC1701's picture

Mark,  You quote Taylor Caldwell?  Christ, I haven't read those (shlock) novels since I was a kid.

But I hear that you're the "Most Interesting Man in the (contrarian investment) World", and rich blokes call you for advice that should be obvious but perhaps isn't.

  http://www.cbc.ca/news/world/story/2013/04/29/f-rfa-macdonald-power-shif...

My PM bullion is faaaar from the jurisdiction and range of ravenous vultures.  Buy real assets that generate fiat cash-flow and have minimal 3rd party counter-risk.

Stay thirsty my friends, drink Dos Equis

Wed, 05/01/2013 - 18:21 | Link to Comment Mr. Hudson
Mr. Hudson's picture

: "The European Union is controlled by Germany."

And who controls Germany? It isn't Germans.

Wed, 05/01/2013 - 18:30 | Link to Comment Kirk2NCC1701
Kirk2NCC1701's picture

That's a Gimme:  The people who control Germany's gold!  And access to the markets for their cars, dishwashers, etc.  They make subs for Israeli, and even the German guy in Django Unchained gets a good profile.  The Germans are "back in" with TPTB.  Where they like to be.  Like good little rehabilitated "Buergers".

Wed, 05/01/2013 - 18:33 | Link to Comment DeliciousSteak
DeliciousSteak's picture

Indeed. Two decades after the SU fell they still have foreign troops and military bases in their country. Though I do remember reading somewhere that the UK will finally withdraw their troops by 2020, but the Americans have no intention of leaving. Not that it shows who is in control of Germany, but it does show that there's nothing to be afraid of when it comes to Germany itself.

Wed, 05/01/2013 - 19:00 | Link to Comment Rustysilver
Rustysilver's picture

DeliciousSteak,

UK is withdrawing its 8500 troops by 2020 because that's what UK can afford.  They need facilities in UK to accommodated the soldiers.   It may happen sooner because UK army is reducing its level and hence there would be room in UK for the returning troops

Thu, 05/02/2013 - 03:28 | Link to Comment Non Passaran
Non Passaran's picture

And who controls the controllers?

Who the fuck cares who controls Germany, they (mostly) voted for Merkel and that's all I care to know. (And this doesn't mean all Germans should be judged based on the outcome of an election, it just means those who voted for non-freedom parties probably deserve to live in a semi-totalitarian state).
The same goes for other countries in eurozone and the EU.

Wed, 05/01/2013 - 18:28 | Link to Comment MTAR
MTAR's picture

Just curious is this same "bail-in" policy we have in Canada now? If so, where's the closest gold dealer? ;)    

Wed, 05/01/2013 - 18:33 | Link to Comment DeliciousSteak
DeliciousSteak's picture

All that there is now is the tyrannical demands of Berlin that must be obeyed to receive funds.

 

LMAO

That sentence gave me the best laafs I've had in a long time. There's always the alternatives: 1. The politicians refuse the terms, take the losses and move on. 2. Politicians refuse the terms, take the losses and get out of club.

 

It's not totalitarianism when you decide. There could be a situation where all goes to shit and there's no funding to be had, Cyprus doesn't want that, so they take the money.

Every member is part of the club, and acts within the club, out of their own free will.

Wed, 05/01/2013 - 18:31 | Link to Comment smacker
smacker's picture

 

 

The rapidly emerging EU totalitarian state is probably even worse than Mark Grant describes. Frankfurt is the home of the ECB under Draghi who has been a key player in criminality regarding Greece and Spain. Then there's Brussels with the likes of Barroso, Rompuy and Rehn et al. ALL of these old commies/fascists are "in it together".

The Euro will not be allowed to die. That would spell the end of their utopian, collective dream to create the new United States of Europe (aka EUSSR). The wishes of the people of Europe are of no importance to these people.

                    Barroso: "The Future of Europe Is Too Important To Be Left To Democracy"

Wed, 05/01/2013 - 18:39 | Link to Comment Kirk2NCC1701
Kirk2NCC1701's picture

"Europe Has Become A Totalitarian State".

What, and the US hasn't?  ROFL

Of course one advantage of living in FL, is that one can declare personal bankruptcy and still keep one's primary residence -- no matter how much real wealth (cars, boats, plane, paintings, PM or cash) is kept there.  Ask Burt Reynolds or OJ.  TX is another such state... and a couple of others in the Mid-West.  And in FL, those not living by the waterfront subsidize the Hurricane Insurance for those who do, since the rates go by Zip code. 

Dumb sheep, smart wolves!

Wed, 05/01/2013 - 18:46 | Link to Comment Joe A
Joe A's picture

That was the plan all along. Same across the ocean.

Wed, 05/01/2013 - 19:48 | Link to Comment Bunga Bunga
Bunga Bunga's picture

These things apply to most EU countries:

- need to have health insurance

- no right to own a gun

- need to register your primary residence with authorities

- need to carry a personal ID card all the time

 

These things apply to all EU countries:

- anyone can be stopped and questioned by police, customs, border patrol anytime anywhere without a reason

- need a permit to move to a different country of the EU

- need a permit to work in a different country of the EU

- need to report any cash or capital movements above 10.000 EUR when taking it to a different EU country

 

EU is far from beeing a United States of Europe

 

 

Thu, 05/02/2013 - 04:13 | Link to Comment Random
Random's picture

The only upside of living in the EU is that the odds of being killed by a cop are very slim, unlike US where (I'm told) every interaction with the police is a gamble with your life.

Apart from that, EU (as a whole) and each member state is a quasi-perfect statist paradise.

Wed, 05/01/2013 - 20:14 | Link to Comment TNTARG
TNTARG's picture

So hear this.

In the province were I live we have branches of main international banks but we also have the province bank. It's 55% owned by the province.

We the clients have a "bank officer" that takes care of our accounts. When we need loans, we sit with them to talk about our finances. We analize together the extent of the loan we can afford: the project, the assets, the incomes, etc.- And we must be solvent to get loans.

We have common interests: if we go bankrupt, is bad for our province.

The bank has more than 50 years, doing good. The province is doing good. So do we.

The branches of international banks have to behave accordingly, otherwise they'll never get a client. Or they get "some" clients, of course.

It's real! (no sarc)

It's possible! (/sarc)

 

Wed, 05/01/2013 - 23:42 | Link to Comment W74
W74's picture

North Dakota's is 100% owned.

Thu, 05/02/2013 - 00:27 | Link to Comment TNTARG
TNTARG's picture

And... It's doing well.

Wed, 05/01/2013 - 21:22 | Link to Comment yellowsub
yellowsub's picture

Boston was the Cyprus test.

Wed, 05/01/2013 - 21:34 | Link to Comment Jackagain
Jackagain's picture

I was going to say the same thing....and the idiots up there threw a parade for the Nazi cops after getting raped.

http://georgedonnelly.com/libertarian/boston-police-state-failed

Wed, 05/01/2013 - 21:58 | Link to Comment darteaus
darteaus's picture

Stop needing the money, and you stop having to dance!

Thu, 05/02/2013 - 01:29 | Link to Comment GoldIsMoney
GoldIsMoney's picture

"The European Union is controlled by Germany."

 

Tell me why should it be of advantage to make all the Germans poor? Sorry, the EI is run by unchoosen representative of all EU countries. And if we would be in control, how comes that we still pay all the bills. Sorry, cluelessness is and stands clueless even if you repeat it over and over again.

 

And you never should forget that the ECB is everything but under German control and you know you don not have control of anything if you do not have control over the "payment notices" of the population. 


Thu, 05/02/2013 - 01:54 | Link to Comment elwu
elwu's picture

Mark J Grant shows again hs total cluelessness about Europe.

For instance, in any EU institutions, like the ECB, Germany has the same voting power as Cyprus, or Greece, or any other member.

That's why it is regularly overvoted in indeed all EU institutions.

So now you come and write "The EU is controlled by the Germans"

More likely that your brain, if there is any, is controlled by the aliens.

Thu, 05/02/2013 - 02:59 | Link to Comment WezTheJuic
WezTheJuic's picture

Yupp,

It is what it is, and now it is being confirmed. AGAIN, and AGAIN, and AGAIN, and AGAIN.

How many more time must a person say, "AGAIN"?

Oppps, forgot Iceland. And now with Monsanto being kicked out of more countries over there? (Ahhhhh, process?)

Or is that,,,,"Again"?

Cyprus is a version of an applicable blue-print, agreed. While in the application of those other core countries, how many fires are already burning over there? Again?

Thank-you for sharing Tyler.

Cheers,

Pens,

Thu, 05/02/2013 - 03:49 | Link to Comment luckylongshot
luckylongshot's picture

Blaming Germany for the mess in Europe is naive. Germany is just one of the dominoes waiting in line to fall over as this crisis deepens. The ones to blame are the Rothschild led private bankers that own the right to create money in Europe and who, unlike Germany, are profiting from this mess. If Eurozone countries had not given away their power by giving these bankers control over their right to create money the problems in the Eurozone would be nowhere near as serious. 

Thu, 05/02/2013 - 06:42 | Link to Comment whirlybird rules
whirlybird rules's picture

.. and straight out of the Troika's Press Room.. tada!  

 

"Analysis: What taxpayer bailouts? Euro crisis saves Germany money"

 

http://www.reuters.com/article/2013/05/02/us-eurozone-bailouts-idUSBRE9410CG20130502

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