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The European Debt Crisis Visualized

Tyler Durden's picture




 

At the heart of the European debt crisis is the euro, the currency that ties together 17 countries in an intimate manner. So when one country teeters on the brink of financial collapse, the entire continent is at risk. The following excellent mini-documentary visually explains how such a flawed system came to be... and what's next?

 

 

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Thu, 02/13/2014 - 19:27 | 4434297 ThroxxOfVron
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This is not the Hitler overdub You are looking for...

Thu, 02/13/2014 - 19:45 | 4434361 ACP
ACP's picture

Off topic, but the 9th circuit overturned CA's draconian CCW limitations. This is such a shocker, and not the 3 finger kind.

Thu, 02/13/2014 - 20:09 | 4434463 seek
seek's picture

Pretty amazing when you realize how far left the 9th is, too.

Thu, 02/13/2014 - 19:59 | 4434421 SafelyGraze
SafelyGraze's picture

it's a propaganda video

first it says that tptb wanted to take control of europe by eliminating sovereignty of each state

this is being done by pushing debt onto countries that they cannot repay, then taking over their government by installing bank employees

the debt is pushed on to these states via the miracle of fractional fiat debt delivery, in which euros that never existed were loaned to states that then required their citizens to generate these euros to pay back the principal plus interest

this obligation, of course, can never be met

which allows the lender to confiscate the assets of all the people in the country, so that they and their become debt slaves

I can't believe bloomburg would push this point of view on people!

 

Thu, 02/13/2014 - 20:15 | 4434479 trader1
trader1's picture

the meta-irony is epic ;-)

Thu, 02/13/2014 - 20:51 | 4434594 Oldwood
Oldwood's picture

Like a strong centralized government is the answer! Fucking Statists always see the problem as a lack of power. If they could only pass a law! Fuckers!

Thu, 02/13/2014 - 21:22 | 4434705 Johnny Cocknballs
Johnny Cocknballs's picture

is it still "propaganda" when it's true?  I know the Latin origin, and the root, but no one uses 'propaganda' in a neutral way anymore, implicit in the standard-utilized meaning is some degree of falsification. 

My machine isn't letting me watch this video.  I feel left out.

Fri, 02/14/2014 - 01:06 | 4435436 Unknown User
Unknown User's picture

They neglected that governments assumed banks’ debt.  It's a very crude propaganda flick.

 

Thu, 02/13/2014 - 19:28 | 4434300 NemoDeNovo
NemoDeNovo's picture

Well Shitcoin will not save them either..............

http://gizmodo.com/somebody-hacked-into-silk-road-2-and-stole-all-the-bi...

So bit coin can be hacked, thought it was Bullet Proof............

Pagin fonestar

Thu, 02/13/2014 - 19:40 | 4434328 Tasty Sandwich
Tasty Sandwich's picture

I'm no BTC expert, but I doubt SR 2 was hacked.  That's the excuse, but it seems like they just decided to take the money and run.

Reddit calls it an inside job

From r/SilkRoad: SR 2.0 hacked; ALL BTC gone.

From r/DarkNetMarkets: SR has been HACKED!

Top comment by paleh0rse:

I hope you realize that, unless another vulnerability was exploited, or some social engineering was involved, the transaction malleability issue CANNOT be used to steal coins. Malformed TXID's injected into the blockchain, or even just your custom wallet implementation, would NOT result in stolen coins.

You are either lying, or you don't understand how these supposed "hackers" broke your shit.

Thu, 02/13/2014 - 19:44 | 4434354 Johnny Cocknballs
Johnny Cocknballs's picture

"You are either lying, or you don't understand how these supposed "hackers" broke your shit."

Not really a software guy, eh? :o]

Glorified DOS attack.  College kid stuff.  Completely disparate from jacking the code or rerouting payments. 

A traffic jam, not a burglary.

That said NSA and/or Mossad and/or Mi5, inter alia, almost certainly have the scode by now.  Which means someone at the banks has it.

Someone who likely will make $ off the volatility. 

 

I may be wrong however.

 

 

 

 

Thu, 02/13/2014 - 19:51 | 4434376 Tasty Sandwich
Tasty Sandwich's picture

First of all, I was quoting someone from Reddit who seems to understand Bitcoin better than I do.  They were pointing out the issue with BTC blamed for the alleged hack of SR didn't make sense.

Second of all, when you use SR, you put your BTC on their site.

So, it is conceivable that the admins of SR simply stole the BTC rather than a flaw in BTC being exploited.

Thu, 02/13/2014 - 21:30 | 4434729 Johnny Cocknballs
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I hear you, I was just busting balls a little not, in this instance, trying to be a dick.  You put btc on their site but not the access, obviously, and someone compared this to forging a receipt, the coin and the code were sorta ancillary it seems.  I don't know much about it so I'll shut up.  Sorry.  The only thing I feel there's a good probability of is that intelligence agencies have access to bitcoin in a way people on reddit do not and will tend to make money off volatility by giving the still small pool of coins pushes up and down.

This doesn't mean other people can't make money, as well, it just means btc is riskier {if I'm right} than people are imagining going in. 

 

What I can't see, right now, is any serious argument for btc over physical gold.

Thu, 02/13/2014 - 20:14 | 4434478 seek
seek's picture

Someone close to the SR inner workings is saying that any missed BTC payments require a manual override to force the second payment (which is what the current transaction ID nonsense is about.) If that's indeed true then no amount of DoS attacks or payment schemes would result in the double-spending that SR is claiming depleted their accounts. This implies that the BTC at SR had to be taken using a private key, and you have to be pants-on-head retarded to co-locate a private key on a server (seriously, many hacks in the past were done due to this, so it's just common knowledge to not at this point.)

Since SR is claiming nothing else was hacked/lost, only the bitcoins, it pretty much screams inside job, if the missed payment mechanism is indeed manual.

Thu, 02/13/2014 - 21:17 | 4434685 Johnny Cocknballs
Johnny Cocknballs's picture

Right.

Thu, 02/13/2014 - 19:50 | 4434384 DIgnified
DIgnified's picture

Reddit is full of asshats.  The last time it was the US government and the NSA.  Given their current financial desperation, I'd bet they were the cause again. 

Thu, 02/13/2014 - 19:56 | 4434400 Tasty Sandwich
Tasty Sandwich's picture

I agree that Reddit is full of asshats.

The smaller subreddits can be useful for information though.

I don't partake in the comments, and I cannot link you to darknet forums since you'd need to be using Tor and I don't feel like trying to find my TAILS DVD and booting it in order to open them either.

Thu, 02/13/2014 - 20:18 | 4434484 seek
seek's picture

Just FYI, with yesterday's bust of a SR competitior just days after going online, it's almost certain TOR is deeply compromised.

Thu, 02/13/2014 - 20:32 | 4434531 Tasty Sandwich
Tasty Sandwich's picture

Sigh.

I had only within the last six months or so started to use TAILS and TOR and understand them.

Thu, 02/13/2014 - 22:14 | 4434953 ThroxxOfVron
ThroxxOfVron's picture

Sounds like the NSAssats are emptying the till and sealing the exits.

Fri, 02/14/2014 - 00:12 | 4435305 PeakOil
Thu, 02/13/2014 - 19:53 | 4434378 Mine Is Bigger
Mine Is Bigger's picture

So, you think the dollar was "hacked" if a bank was robbed?  It's like saying gold is doomed because someone stole a gold bar from a shop.  Stealing bitcoins from a Website and hacking the Bitcoin are two very different things.

Thu, 02/13/2014 - 19:34 | 4434315 gwar5
gwar5's picture

Visualization of the European debt crises. It's about mainstreet.  

 

https://www.google.com/search?q=riot+dog&source=lnms&tbm=isch&sa=X&ei=hF...

 

 

Thu, 02/13/2014 - 19:33 | 4434318 W74
W74's picture

Link to the actual video?  Layout is so bad on ZH that the ever-present window to the right cuts off portions of everything.

 

Fri, 02/14/2014 - 07:27 | 4435843 Apeman
Apeman's picture

You need a bigger monitor

Thu, 02/13/2014 - 19:33 | 4434322 lordbyroniv
lordbyroniv's picture

Fuck the European Union

Thu, 02/13/2014 - 19:37 | 4434331 RaiZH
RaiZH's picture

I really loved the visuals on the video... and as a young & rather naive student, I found it pretty informative :)

But I somehow feel they subtly blame the citizens/culture while completely neglecting the problems caused by the monetary/banking system. 

Thu, 02/13/2014 - 19:42 | 4434355 NOTaREALmerican
NOTaREALmerican's picture

Re:  they

Allot would depends on who made it and what social class "they" were in.     Those of us living off the government and corporate monopolies have a vested interesting in keeping the "monetary/banking system" going. 

The top 10 or 20% (or so) are really doing well with the existing system.   We don't want change unless it ensures our cut of the loot.  

Thu, 02/13/2014 - 19:38 | 4434335 Son of Captain Nemo
Son of Captain Nemo's picture

But will Nuland and Pyatt deliver this video on a mammoth overhead in the main square of Kiev to let the people of Ukraine know why joining the EU is a bad idea for them?

Still can't believe Bloomberg allowed this!

Thu, 02/13/2014 - 19:54 | 4434403 kliguy38
kliguy38's picture

did you watch the whole thing.......it plugs the EU being controlled fiscally by one gov...ie ECB

Thu, 02/13/2014 - 20:15 | 4434466 Son of Captain Nemo
Son of Captain Nemo's picture

No unfortunately I did not. Kudos if it finished by admitting the truth on why the EU is on life support and will not make it out alive.

When I was on business in the Netherlands in 2000 when everyone was euphoric on the EU's future the Dutch were already "pissing and moaning" at the idea of Brussels being in there skirts for control.  They hated it then as they obviously hate it now!  Smart businessmen those Dutch. 

They hate the Belgians, always have and with good reason!

Thu, 02/13/2014 - 20:17 | 4434486 kliguy38
kliguy38's picture

yeah it tied up the end with technocrat control for it to survive......NO way it happens without a fight ...the germans hated bailing out the east germans when they merged and this is 100 times worse.......question is how long they levitate it and I have no idea

Thu, 02/13/2014 - 20:32 | 4434532 Son of Captain Nemo
Son of Captain Nemo's picture

I'm actually shocked that the Germans haven't convened an emergency vote to throw Merkel & Co. out of office with "no confidence" and fire up the printing press for Deutsche Marks by now...

Then I remembered all those lovely U.S. military bases we see and (don't see) dotted throughout the landscape!

Thu, 02/13/2014 - 19:46 | 4434369 blindman
blindman's picture

Financial "Crisis" in Greece
http://www.youtube.com/watch?v=Zvl9N9GdraQ
.

Thu, 02/13/2014 - 23:12 | 4435154 The Wisp
The Wisp's picture

That Video is Just so Wrong/Right  on so many levels, hurts to watch, but you do anyway. not sure wether to Laugh or Cry

Fri, 02/14/2014 - 19:33 | 4438061 blindman
blindman's picture

it is "genius, genius, genius"!
i laugh.

Sat, 02/15/2014 - 00:45 | 4438828 EddieBurgerPie
EddieBurgerPie's picture

Hahahaha! At first I thought that was a young Dan Aykroyd.

Thu, 02/13/2014 - 19:51 | 4434380 Atomizer
Atomizer's picture

Shared systemic robbery. Just pull your money from the bank as an experiment. See how solvent they really claim to be. / sarc 

Thu, 02/13/2014 - 19:51 | 4434390 Johnny Cocknballs
Johnny Cocknballs's picture

Can't open the video even after a little effort.  Let me know if any of you guys start getting charges for noodles and tiger penis on your credit cards.

Nigel Farage taught me everything you need to know about the EU.

 

It is anti-democratic, corporatist, statist, creeping bankster-fascism.

 

And that is all it is.

 

Thu, 02/13/2014 - 19:55 | 4434405 royal
royal's picture

good video

Thu, 02/13/2014 - 20:08 | 4434453 no more banksters
Thu, 02/13/2014 - 20:07 | 4434457 JailBanksters
JailBanksters's picture

So the solution then is a World Governance and World Currency

We shall call this the New World Order.

 

Fri, 02/14/2014 - 04:49 | 4435713 Kobe Beef
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...headquartered in Jerusalem on Rothschild Street.

Thu, 02/13/2014 - 20:15 | 4434461 falak pema
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At the heart of the Euro crisis is the huge US oligarchy scam of banksta cabal that they sold to all banks in the name of "free market competition" and "winner takes all" logic under the US PAx Americana gun. Its been shown to be a total scam, a Madoff type Ponzi organised by the US elite at the expense of the whole world. 

The Euro was supposed to protect the Euro world from USD hegemony; especially for king commodity of oil imports.

This bank sector WMD scam has the whole world by the sort hairs. And the Euro governments caved in to their own banks who were totally sucked into the USD sink hole for their purchases of oil and commodities via swap deals. Mutti's dictat became every nation for itself, instead of joint and several. That is contrary to having common money, but not to german law.

Europe is one step behind the REALITY of Pax Americana dystopia.

Since then the Euro has become a millstone around the necks of people as this crisis under speculative fire pushes the labour non intensive economies of south into the greedy, selfish hands of Oligarchs from more labour intensive economies of the north; making the common currency a Maginot Line which cannot withstand the currency wars raging; as all growth is now evanescent. 

Thu, 02/13/2014 - 20:21 | 4434490 Atomizer
Atomizer's picture

Log onto Bank of International Settlements site. Type China in box. Query by date. EU is bleeding. Pax Africa. Sorry, not at my computer. I posted link some days back. 

Thu, 02/13/2014 - 20:13 | 4434467 Atomizer
Atomizer's picture

This video is a tool to broaden Global Financial oversight. Can I have some crayons to draw you a picture? It will end up by shoot first, ask questions later. Just my opinion. 

Fri, 02/14/2014 - 01:08 | 4435457 DoChenRollingBearing
DoChenRollingBearing's picture

As long as they Stay.Off.My.Lawn.

His name was francis_sawyer.

Thu, 02/13/2014 - 20:28 | 4434519 walküre
walküre's picture

Every European works for the betterment of German banks. In a nutshell. Frankfurt is Wall Street with Kraut und Knödel.

Fri, 02/14/2014 - 02:21 | 4435596 TPTB_r_TBTF
TPTB_r_TBTF's picture

and Apple Wine

Thu, 02/13/2014 - 20:29 | 4434521 headhunt
headhunt's picture

I really do not see much differnce between the EU's problems and the USA.

Consider the States and cities run by democrats with their insane fiscal policies racing towards default expecting to be bailed out by the Fed, aka everyone elses taxes.

Thu, 02/13/2014 - 20:49 | 4434588 trader1
trader1's picture

you got it.  

the EU case unfolding in the public eye today is an allegory for the same choice facing US monetary and fiscal policy-makers:

preserve or break-up the Union.  

 

Thu, 02/13/2014 - 20:58 | 4434611 NOTaREALmerican
NOTaREALmerican's picture

Re:  Consider the States and cities run by democrats

Know any "conservatives" that wanted to drowned these socialist scams Big-Ag, Big-MIC, Big-Road, Big-Water, Big-Airport, Big-Energy, Big-House, Big-Fin, Big-OldFart, Big-OldFartHealthcare, Big-AntiDrug, & Big-PoliceState in the bathtub?  

Yeah, me either.   Everybody loves the socialist scam they are living off of.

Thu, 02/13/2014 - 21:02 | 4434621 Ulterior
Ulterior's picture

I lived in Cyprus for 3 years, thats almost same greeks - you wouldnt believe the shit I saw there - people are obliviously siesting, youth sitting all day in bars playing cards and drinking pinacollada's -

just mindless consuming - which had to end, wonder how are they doing now...

(lucky to be out with my money before shit hit the fan)

Fri, 02/14/2014 - 03:57 | 4435672 kanoli
kanoli's picture

This video is a great explanation - until the end, when it switches to propaganda.  The ONLY solution, they say, is a unified fiscal authority for all of Europe.

Hmmm.   The USA has a unified fiscal authority but that has NOT stopped unlimited borrow and spending.  So there is no reason to think a unified fiscal authority would fix Europe's problems either.

Another alternative would be Jubilee - debt forgiveness.  The idiot banks/investors who lent unlimited money to Greece, Spain, Portugal, Ireland, etc should lose their money, just like an investor who lends to a poorly managed company.  Declare national bankruptcy as needed and start over again.

Of course, this would cause the banks to collapse because they have been told by their government regulators that government bonds are the safest investment and have to keep a substantial portion of their balance sheet in bonds.

This house of cards is going to fall down.

Replace the Euro with gold as currency, and be done with it.

Fri, 02/14/2014 - 04:48 | 4435711 NoIdea
NoIdea's picture

Massive deficit spending? Borrowing money the country can never repay? USA and Greece seem to have a lot in common!

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