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Behold "The Path From Crisis To Stability" - Mario Draghi Speaks Live At Davos

Tyler Durden's picture




 

Davos is about to end, and there is much good news to report: you see, the billionaires in the lovely Swiss town, surrounded by their own private (or public) armies, have fixed record global wealth inequality, which just happens to be the result of actions by... of Davos billionaires. And just to top the surreal idiocy off, here is Mario Draghi, Goldman's best known banker at the ECB, with a special address titled "the Path from Crisis to Stability"... ostensibly on the back of bailout mechanism that don't exist, and facilitating "reforms" that promote more spending and less revenue in a continent that just happens to be insolvent. #Ref!

 

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Fri, 01/24/2014 - 13:03 | 4363130 SilverDOG
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HE sucks.

Fri, 01/24/2014 - 13:11 | 4363148 hedgeless_horseman
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Heading back out to make his rounds on, "the Path from Crisis to Stability."

To reduce the reserve ratio, which is currently 2%, to 1% as of the
reserve maintenance period starting on 18 January 2012. As a consequence
of the full allotment policy applied in the ECB’s main refinancing
operations and the way banks are using this option, the system of
reserve requirements is not needed to the same extent as under normal
circumstances
to steer money market conditions.

 

http://www.ecb.europa.eu/press/pr/date/2011/html/pr111208_1.en.html

 

Those people that think European banks need to hold more than 1% reserves do not understand the political capital invested in Europe.  They vastly underestimate what the Euro means for the Europeans, for the Euro area.

Fri, 01/24/2014 - 13:12 | 4363169 NotApplicable
NotApplicable's picture

Death is a fairly stable state, right?

Fri, 01/24/2014 - 18:25 | 4364638 mjcOH1
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"Ordo ab chao" - Out of chaos ... order.

Fri, 01/24/2014 - 13:37 | 4363178 THECOMINGDEPRESSION
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Easy wheelbarrel of FREE BITCOINS, while the site lasts.. you can get it here if you have a bitcoin wallet:

http://freebitco.in/?r=224682  NO CASH NEEDED..I am up to a half a bitcoin a week..so far..FOREVER.

Fri, 01/24/2014 - 13:34 | 4363183 TBT or not TBT
TBT or not TBT's picture

Indeed, the Euro and the EU are a sacred suicide pact. Europeans decided western civ was evil amidst the despondent navel gazing post WWI, and decided to try all sorts of alternatives. The current one involves not reproducing western civilisation's vectors (european people and their ambitions) but rather preventing and thwarting them while importing noble savages and both subsidizing and encouraging them to expand their, ah, cultural practices. Like the very regular loud call to prayer illegally occupying public streets in France, honor killings, forced marriages, polygamy, private sharia court decisions, zones where the unionized lifer bureaucratized police don't go. The adoption of the new environmentalist religion in its faith based form that holds human activities and human flourishing bad for Gaia is another instantiation of the suicidal cult at work.

Christian guilt got replaced with post emperial guilt, Gaia guilt, guilt for existing.

Fri, 01/24/2014 - 13:18 | 4363202 williambanzai7
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Fri, 01/24/2014 - 13:25 | 4363223 SAT 800
SAT 800's picture

Cracked me up. what a great post.

Fri, 01/24/2014 - 13:36 | 4363263 HardlyZero
HardlyZero's picture

He enjoys saying asssets.  It rolls off his tongue.

When and where will be the first big bank failures in 2014 ?

Fri, 01/24/2014 - 14:39 | 4363545 dontgoforit
dontgoforit's picture

Hut, two, three, quack.  History repeats, just in different colors.

Fri, 01/24/2014 - 13:50 | 4363310 stock trout
stock trout's picture

nice pic :)

Fri, 01/24/2014 - 14:06 | 4363387 taketheredpill
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Stability.  It's important to set Goals in life.

Fri, 01/24/2014 - 13:11 | 4363171 G.O.O.D
G.O.O.D's picture

What an evil fvkin prick.

Fri, 01/24/2014 - 13:21 | 4363208 williambanzai7
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Sat, 01/25/2014 - 15:09 | 4366997 rotagen
rotagen's picture

Dude looks like a Mallard DUCK.  And his skull is filled with seaweed.

Fri, 01/24/2014 - 13:06 | 4363141 SAT 800
SAT 800's picture

The Path from Crisis to Stability; dump the Euro and the EU and let everyone get back to minding their own business.

Fri, 01/24/2014 - 13:06 | 4363143 Super Broccoli
Super Broccoli's picture

what's it gona be . moar of the same i guess

Fri, 01/24/2014 - 13:09 | 4363145 Whoa Dammit
Whoa Dammit's picture

Quotes you won't get from Davos, but you can hear in Old Yeller the movie:

 

Arliss Coates: What's money?

Travis Coates: That's what you buy things with.

Arliss Coates: What do you mean by buy things?

Travis Coates: Well when you have money, you give it to people for stuff. They say you can get anything for money.

Arliss Coates: Anything? What's it look like?

Travis Coates: I never seen but one piece. A dollar bill Papa had.

Arliss Coates: What'd Papa buy with his dollar?

Travis Coates: Nothing, it wasn't no good.

Fri, 01/24/2014 - 13:07 | 4363151 Greenskeeper_Carl
Greenskeeper_Carl's picture

Its either hilarious or sad that the people of the world flock to hear what people like draghi and Abe have to say. These people oversee completely bankrupt and insolvent institutions and countries, took over them in bad shape, then made them worse, and yet the sycophants of the world salivate at hearing what they have to say. In any other profession they would be viewed as abject failures and ridiculed, but since they are central planners they are celebrated.

Fri, 01/24/2014 - 13:36 | 4363256 nope-1004
nope-1004's picture

It's because these individuals also own the media, which is why we are constantly fed lies about the state of the eocnomy, size of QE, taper, green chutes, exit strategy.  All a fucking lie because the truth is all the large banks INCLUDING THE FED are insolvent.

Draghi is a former Goldman Sachs dude.  All he knows is white collar crime.  Expect nothing less.

 

Fri, 01/24/2014 - 13:09 | 4363157 Cognitive Dissonance
Cognitive Dissonance's picture

In a thousand years, if man is still alive, they will look back at our fawning at the feet of the Ponzi Gods in wonderment and amazement that we could be so stupid in exactly the same manner we look back at the Middle Ages and wonder at those who bowed at the feet of Kings and Priests.

Fri, 01/24/2014 - 13:14 | 4363179 NotApplicable
NotApplicable's picture

"Welcome to Costco. I love you."

Fri, 01/24/2014 - 13:19 | 4363199 TBT or not TBT
TBT or not TBT's picture

In that future, discussion of past civilisational failires would be "fag talk", practiced by "tards".

Fri, 01/24/2014 - 13:23 | 4363217 G.O.O.D
G.O.O.D's picture

Doing a Costco run today...life is good..

Fri, 01/24/2014 - 13:52 | 4363320 ...out of space
...out of space's picture

jp    makes you wonder why shit never change

http://www.youtube.com/watch?v=BNWpZ-Y_KvU

and  thousand years from now, the game will still be the same, just stage will be different

Fri, 01/24/2014 - 14:42 | 4363556 dontgoforit
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"Everything changes; but nothing ever changes the same." - Cyndi L.

Fri, 01/24/2014 - 13:09 | 4363159 Spungo
Spungo's picture

Did anyone else notice he has a pedosmile?

http://www.thebestpageintheuniverse.net/c.cgi?u=spot_the_pedo

Fri, 01/24/2014 - 13:10 | 4363166 TBT or not TBT
TBT or not TBT's picture

At this point "#Ref" could be shorthand in a lot of articles here, so far removed from reality and suspended over the canyon resolutely not looking down so many central planning and TBTF orgs have become.

Fri, 01/24/2014 - 13:13 | 4363177 Iam Yue2
Iam Yue2's picture

Lizard Man.

Fri, 01/24/2014 - 13:15 | 4363187 Spungo
Spungo's picture

Put him in charge of bitcoins and you'll need a wheelbarrow full of hard drives to buy a Tesla with them.

Fri, 01/24/2014 - 13:15 | 4363189 krispkritter
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 "I'm a Douchebag.  Screw the Serfs!"  (receives standing ovation)

 

How come 'terrorists' bomb train stations and not these places?

Fri, 01/24/2014 - 13:33 | 4363249 buzzsaw99
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How come 'terrorists' bomb train stations and not these places?

if you think about it long enough the answer will come to you

Fri, 01/24/2014 - 14:37 | 4363527 krispkritter
krispkritter's picture

Yeah, that's why I put 'terrorists' in quotes.  If there were real terrorists it probably would be different. Where's a good bad guy when you need one? sigh.

Fri, 01/24/2014 - 13:20 | 4363203 Bearwagon
Bearwagon's picture

What was there to be expected?! Did you already forget? There's no plan B. Period!
http://www.zerohedge.com/news/2013-04-04/mario-draghi-responds-zero-hedg...

Fri, 01/24/2014 - 13:23 | 4363214 yogibear
yogibear's picture

Disgusting. The people should hang this bankster like Mussolini.

Fri, 01/24/2014 - 13:22 | 4363216 williambanzai7
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Fri, 01/24/2014 - 13:25 | 4363222 williambanzai7
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Fri, 01/24/2014 - 13:59 | 4363353 Black Swan 9
Black Swan 9's picture

Nice, William Banzai.. :))

Fri, 01/24/2014 - 13:27 | 4363225 thunderchief
thunderchief's picture

From Hitler to Dragni, for Christ's sake, it's worse than inbreading.

Fri, 01/24/2014 - 13:27 | 4363228 Spungo
Spungo's picture

Can someone photoshop his face onto a dick from a still shot of a porno? I'm thinking of an upward angle shot where the male porn star is looking down at the camera and Mario's face is looking in the same direction.

Fri, 01/24/2014 - 13:33 | 4363254 Ignatius
Ignatius's picture

Cancel the debts you oligarchic, mafia fucks.

Fri, 01/24/2014 - 13:56 | 4363342 Black Swan 9
Black Swan 9's picture

All I have to say is, lol..

Fri, 01/24/2014 - 13:59 | 4363359 Liquid Courage
Liquid Courage's picture

Dopo di noi ... il diluvio!

According to Google Translate, that's the Italian version of the (in)famous statement of Madame Pompadour:

Après nous ... le déluge!

Fri, 01/24/2014 - 14:45 | 4363572 dontgoforit
dontgoforit's picture

"After us, the flood."  No more apropos than now, 'cept for QE and stuff like that there.

Fri, 01/24/2014 - 14:08 | 4363397 lasvegaspersona
lasvegaspersona's picture

Draghi is biding his time. He just needs to keep the euro intact until the dollar fails. The ECB has in total, 10,500 tons of gold marked to market on its balance sheet. The Fed has none, just some 'gold certificates.'

Should the dollar fail, gold will not have a price in 'dollars/ounce'. It will simply be the thing that 'backs' the euro. The euro and future currencies will know their relative values by the price of gold, marked to market, in the respective currency.  freegold...see fofoa...least thats what we see happening.

...and if you don't think so...why was the euro structured that way?...just a coincidence...I don't think so...

Fri, 01/24/2014 - 14:34 | 4363519 dizzyfingers
dizzyfingers's picture

That worm is not turning but waiting, as all worms do.

Fri, 01/24/2014 - 14:40 | 4363533 DYS
DYS's picture

Video dead.   Anyone got a link?

 

EDIT:  FOUND IT

 

http://new.livestream.com/wef/events/2691983/videos/40386961?query=the%2...

Fri, 01/24/2014 - 14:44 | 4363563 tvdog
tvdog's picture

The U.S. has thousands of military aircraft. How come it can't spare one to bomb that hotel in Davos?

Fri, 01/24/2014 - 14:53 | 4363597 Marco
Marco's picture

Continents which run trade deficits for nearly half a century might become insolvent, the EU not so much (not in aggregate any way).

Fri, 01/24/2014 - 15:25 | 4363749 q99x2
q99x2's picture

Arrest him. Don't let him get away.

Fri, 01/24/2014 - 16:42 | 4364112 August
August's picture

Let the flensing begin.

Fri, 01/24/2014 - 16:45 | 4364133 no more banksters
Fri, 01/24/2014 - 16:45 | 4364145 no more banksters
no more banksters's picture

Davos 2014 World Economic Forum

In front of the mainstream media cameras:

“The World Economic Forum has identified economic inequality as a major risk to human progress, impacting social stability within countries and threatening security on a global scale.”

Behind them:

http://failedevolution.blogspot.gr/2014/01/davos-2014-world-economic-for...

Do NOT follow this link or you will be banned from the site!