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Beppe Grillo: "The Eurozone Chess Game Enters Its Final Stage: Germany Wins In Three Moves"
With everyone's attention focused these days on Greece's Tsipras (and Varoufakis), and also casting concerned glances at Spain's Pablo Iglesias, head of the poll-leading Podemos party which may well be the next Syriza, many have forgotten that Italy has its own "anti-austerity" voice, that of Beppe Grillo, a voice which had been relatively quiet in the recent past. However, judging by his latest blog post, he too will want to be heard in the seaschange in Europe in the aftermath of the Syriza surge and the resultant chaos that has shaken the Eurozone to its core.
From Beppe Grillo's blog
The Euro’s up in smoke
The Eurozone chess game has entered its third and final stage. Germany wins in three moves - Euro, deflation and purchase of public debt by the ECB (QE) – and in the last few years it has found a way to maximise its profits and reduce to zero its risks as Europe’s creditor.
Germany’s risks
Let’s try analysing the problems of the Eurozone as they really are: problems of conflicting interests of creditors and debtors regulated by demand and supply. If you agree to make a loan to your neighbour, you open yourself up to three risks:
- that he’ll pay you back in a different currency that has perhaps been devalued unless you had a prior agreement about the repayment currency (currency risk);
- that with the amount you get back, you can buy fewer goods or property (inflation risk);
- that you don’t even have either of the first two problems because your neighbour simply goes bust and thus you lose everything (capital risk).
How Germany gains
Germany is the Eurozone’s only big creditor with about 600 billion Euro loaned to various countries, most of which are on the periphery of the Eurozone, including Italy. The Euro has given it this enviable status. If you produce lots and you consume and invest very little and you keep domestic wages and prices low, then you’ll always have cheap unconsumed goods to sell to your neighbours. And you might also be able to make money by providing credit that they will probably ask you for so that they can buy your goods that are so cheap and so good. This is Germany’s situation. It has always had this approach to the market economy in European affairs ever since 1870 with its roots in Calvinism. Thus to sell and lend to the countries on the periphery of Europe was always Germany’s preferred economic activity when everything was going well, before the crisis in 2008. Since then its only objective has been to get that credit returned and to protect its purchasing power.
...
Germany’s checkmate
Basically, QE will give Germany the time needed to achieve the final objective needed to get checkmate: to get rid of the national jurisdiction over as much of the debt as possible and thus to reduce its own capital risk as much as possible. Only the debt issued under Italian jurisdiction can be redefined in a new currency and thus could impose losses on foreign creditors, mainly German, via devaluation of the new currency. Today that proportion stands at about 93%. So only 7%, not more than 150 billion of public debt, cannot be redefined and has to be paid by in Euro, in accordance with the contract. Assuming that there’ll be devaluation of 30%, implies that the cost of a Euroexit for Italy in relation to its public debt, would have been no greater than about 50 billion euro before QE. With the de facto QE, this number has gone up to about 80 billion given that if there’s a collapse, the cost of a “haircut” of let’s say 30% on 100 billion government bonds (BTP) that would be bought by the Bank of Italy, would be a cost borne by all of us. In the eyes of a German creditor, restructuring our debt or an exit with the devaluation of the new currency, in fact present the same capital risk.
So, from now on, the only thing that counts for us Italians in the game of "creditor v debtor" is not to lose jurisdiction over our debt, so that we maintain the right to redefine it. This means we get the benefit if we do exit. Germany’s objective is exactly the opposite: remove our jurisdiction over our debt and thus increase the cost of an exit for us and give the advantage to them, thus continuing to protect the interests of the creditors, which is something it’s really good at.
If we wait too long before leaving the Euro, then Germany will get checkmate and after cashing in all the benefits of our entry into the Euro, it will also cash in on the benefits of our exit.
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Germany will lose 2T EUR if the Euro breaks up, so who is the winner? There will only be losers, but sometime there is no other way. So lets end the ECB.
...so who is the winner?
Novorossiya
yes, that's the way it's seen, by many, eh? it's all about Novorossiya, and whatever even barely hinders that is the enemy, regardless
just a small reminder: the eurozone is not the EU is not NATO. two countries pushed hard for NATO extension: one is only member of the NATO and the other is of that and the EU
So what? NATO is becoming more irrelevant every day. Yes, Novorossiya "wins" here.
Demographics and guns deciding boundaries, again...
Same as it ever was.
This was envisioned and warned of years ago at the beginning if the euro. Germany would rise again as the 4th Reich....an economic conquest of Europe rather than a military conquest. Nobody listened.
Now its all starting to become crystal fucking clear isn't it...bitchez...
BS. Germany is still occupied, hasn't even a peace treaty. Political elites and media are fully under control by the US.
What Beppe is saying is that Italy needs to flip the chessboard over and go home...
Beppe is in this respect has no majority. Italians suffered so much from a corrupt and incompetent government - most of them still hope that Germany takes over, believe it or not.
I have been living in this country and have many friends there.
this ^^^^"Beppe is in this respect has no majority "
"Political elites and media are fully under control by the US."
& the US is controlled by????? Go ahead, say it SAY IT!
Wins in three moves...
Just another ivey league elitest douche who compares the struggles of the common man to a chess game. You got that? None of you really matter. Ita just a game to these people.
It's nested in the way humans learn, alegory. Total bullshit of course, politics are not chess, corporations are not people, money is not free speech.
Whenever I hear the words Beppe Grillo, I get hungry.
I recommend the Beppe Grillo with a side of risotto and some good red wine.
So what if you lose 2T Euros. It is only worthless paper if a Italian keeps on calling the shots at the ECB
Yup, they want to pretend their warped message is about some heroic game of right over wrong, an inevitable 'just' historic reaction. Except when the BS is stripped away, it's just more crazy ideological krud peddlers looking for a justification to do harm. Best thing Europeans can do is blanket ignore nefarious external voices and act like the nascent incomplete federation that it is.
They'll blanket it all right, until it will blow up in their face... We tend to call this sort of things "revolutions". For some reason, they seem to happen mostly in Europe...
Beppe Grillo's only income is from his comedy shows. Regardless, there is no "Ivy League" in Italy, as that's a scam for decadent anglosaxons. No need to get butthurt because of a little allegory. This man has been preaching rejecting the notion of "growth" for the sake of individual happiness of every citizen. The mottoes of the 5 star movement he founded are "No one left behind" and "1 is worth 1".
"The relationship between Grillo, Stiglitz and Soros gives rise to all sorts of fascinating speculation."
http://www.thedailybell.com/news-analysis/35729/Soros-and-Grillo-Crash-t...
Aha! You just proved the old proverb, "If you can't talk about someone, they own you".
Thirst mutilator, the editor-publisher of "die Zeit", Josef Joffe, is member of 7 transatlantic clubs. Same goes for Süddeutsche, Frankfurter Allgemeine, Spiegel which are fully integrated in transatlantic networks since the time they have been given permission to publish by the US in the aftermath of WW II. Well documented, see link 1 at the end of this post: It is from Channel II of the public German broadcaster ZDF. I suspect your German is not sufficient to understand all details but I am sure you'll get the messsage if you follow attentively.
Now you expect me to say that "the jews are behind everything". Well, I have to dissappoint you in this respect. The jews are vicitms as well, a good history of jew-hatred and its origins in Europe can be found in Israel Shahaks excellent book, "Jewsih History, Jewish Religion", see link 2 at the end of this post
Link 1: https://www.youtube.com/watch?v=VvTWo5ZGcNA
Link2:http://www.amazon.com/Jewish-History-Religion-Israel-Shahak/dp/074530818...
I don't give a FF about Joffe [which is relevant insofar as you yourself state that he himself is 'controlled by...', which essentially renders him irrelevant &/or therefore suggests is exhonorated from culpability]
My simple & actual question still stands... "the US is controlled by"????
If you want to answer my question, then BE DIRECT... If you want to jack off by sporting 'LINKS TO NOWHERE', do it on your own time.
& don't give me this crap about living in Italy doing your 'self service' job on synthesizing public opinion towards Grillo. I lived there for 12 years myself and can say that many <3 him. Your voice is just one in many.
- If it came down to 'OPINION' [in a room with Obama, Al Sharpton, Jesse Jackson, & myself], I lose 3-1...
- If it came down to Michael Bloomberg & myself on issues... Well ~ it's better we don't go there because ONE of us would get kicked off a blog.
- If it came down to Ellen DeGeneres & myself talking about gay marriages... 'Oh look THERE'S A SALE AT PENNEY'S'!
The Jesuits, the lizard aliens, the freemasons, the jews, the wizard of oz
Beppe is in this respect has no majority. Italians suffered so much from a corrupt and incompetent government
Nothing new here. People all around the world have suffered from inept and corrupt governments that continue to profit from the fiat Ponzi.
It's amusing how words are used for fraud. What is meant by ''Germany' in these discussions? Do you mean the average German person on the street who wanted to keep the Deutschmark and was promised that all this was only to improve trade ? What is meant by 'Greece' ? The average Greek who is lamblasted in the US 'press' - who we all know can be trusted, right?
How interesting that both sides were represented by bankers when this was all created. Lots of GS boys involved. Of course they admit to being 'internationalists', so the puppet masters don't take national titles seriously. That's just to scam the silly peons.
Welcome to their neo-feudalist dream.
Banksters print up paper fiat Nothings to steal people's labor, and conveniently hide behind national labels to steal people's lives.
It's really quite brilliant.
Evil and despicable . . . but brilliant.
Yes, but not sustainable. Which brings us right back to demographics, available resources and guns sorting it all out, again...
Same as it ever was...
Not so fast. There is now a almost open war between Nato and EU. Nato will win, unfortunately, because, first, it is way more easy to destroy than to build and second, a complete lack of leadership at both, the helm of EU and Germany will almost guarantee Nato will end up victorious.
But what really counts is that the social order be maintained (by all means) and that the interests of a tiny class of financiers are served. In this regard the eilte of both factions will remain unified.
The ony factot in favor of the faction of the civilian leadership is, ironically, Putin - as he is the only one in the position to defeat Nato, as he did now for a second time in east Ukraine.
Right, how's that working out for NATO in Ukraine again? As you suggest, it isn't. Good luck with that cognitive dissonance.
As I said and as you correctly spotted, I said that Purin might be the factor that breaks the strategy of Nato - but it is not the political leadership of the EU to stop Nato. Now you tell me where my cognitve dissonance is, stronzo.
Stand down. As we know, Ukraine is not in NATO. I'm not sure NATO even wants it.
Yes, but Greece is...
So... Italy is next up.
What do we call it... ITAXIT??
Or how about just Ciao !?
Re-"boot". (heh...its apropos)
Or maybe to germany....DAS-BOOT !
There must be some good Youtubes out there on the Dasboot movie meme...regarding the German "position" (underwater), and the German plans, and what they find and happens when they finally 'get home'.
You do realize "boot" in German is "boat" in English?
Yes of course...but you have to play on words sometimes.
Double Entendre'.
I'm a computer person so Re-boot = RESET. it makes sense.
Italy is the boot.
In German boat...yes.
http://www.worldatlas.com/webimage/countrys/europe/it.htm
Its a way to rub-it-in to Germany...and their 'loss'.
How about Meet-a-balls?
Exitaly
No no, it's Bunga Bunga.
EXITALY!
Fucking brilliant.. Glad somebody's brain is working this morning
Me thinks two mucho ice fishin gots me brain froze.
Exit, by Bunga Bunga...
http://jokes4us.com/dirtyjokes/bungajoke.html
I-talaxit?
I-taxi
I-taxIT
Arrivederci bitches
Very close Headbanger!!!!
I'd say Taxi for Italy....
so, TAXIT or ITAXI sound good to me!
Germany has destroyed the standard of living of their middle class and provided vendor financing to the rest of Europe since the Euro came about. Vendor financing works great until it doesn't. Lucent, anyone?
O will invite them all to join in the dollar
Ummm, the Greeks and Italians begged to be a part of the EU and even manipulated their finances to make them borderline acceptable. Germany didn't drag these countries into the EU, they fucking jumped in. And during this entire time the UK has been hammered for not going all in into this cabal.
bullshit!
Both Greece & Italy played the EU like a fiddle from Day 1 [knowing that when the bill finally came, they'd 'dine & dash']
Oh look!
ATHENS OLYMPICS 2004
TORINO OLYMPICS 2006 [narrowly missing out to Sydney on ROME 2000]
Thanx 4 the infrastructure lottery tickets suckas!
Italians fought for both Nazi's & Allies in WW2. Whichever side paid better got the business end of the rifles pointed in the other direction. Euroland north of the Alps is for chumps.
Dine & Dash works until the big burly cook catches you down the street and bashes your head in.
Germany has destroyed the standard of living of their middle class and provided vendor financing to the rest of Europe since the Euro came about. Vendor financing works great until it doesn't. Lucent, anyone?
Conflating the various people in Germany under the catch-all banner 'Germany' destroys people's chances to think clearly on this issue.
The German banks (and their stakeholders) have been the ones who have benefited from all this. By holding down the value of the euro, the ECB has gipped the average German worker of the purchasing power gains s/he would have seen from an appreciation of the deutschmark against other currencies.
By having the ECB take on toxic PIIGS debt from those same banks, they have transferred the downside of their vendor financing to all users of the euro... including the average German.
'Germany' hasn't benefited. The banks head-quartered in Germany have benefited. And I'm willing to bet the majority shareholders of those banks aren't German, any more than the Fed's owners are German.
Thus the issue of Nationalism. When nations' leaders turn their backs on their constituents faith is lost. So we have to focus on individual players and groups (ie big banks, prime ministers, presidents, corporations etc.) which dilutes our energies. What we are witnessing is the death of nations and the movement towards Corporatism.
"What we are witnessing is the death of nations and the movement towards Corporatism. "
This process was begun during WW2 in various ways. Eisenhower warned of the MIC -which is coroporatism/consumer construct superseding the classic nation-state/citizen construct.
By the 1970's the corporatists/globalists had become so powerful that the national leadership in the US was cptured: and Nixon was sent to China to begin the process of off-shoring the production base to enrich the corporatist oligarchy at the expense of the American citizenry.
The movie 'Network' was in effect a mass-media exposition on the near completeness of the replacement of the socio-political order with mass-production-culture/consumerism/fads, product and news 'cycles', etc..
The great lie : 'the vast ecumenical holding company':
http://www.youtube.com/watch?v=NKkRDMil0bw
Yes, that is like saying 'the U.S.' is pushing for a war against Russia.
Any thinking American sees that this would be total madness.
The problem is that the actual trigger pullers and button pushers needed to actually physically carry this out, haven't been taught to think in the 'schools'.
Thankfully, this Man had the courage and heart to think for himself, or it's quite possible that none of us would be here to have this discussion today:
http://www.dailymail.co.uk/news/article-2208342/Soviet-submariner-single...
@BigJim - excellent summary. Will have to copy and paste that when discussing 'Germany' and 'Greece' with others. Thanks, will save me a lot of time.
In other news,
Junker: "Grexit will not happen."
Junker: "When it becomes serious, you have to lie."
Is is pronounced--"Ja-nker or "Ha-nker"? Either case, funny name that? Somebody hit that man with an ugly stick.
"yanker" or "wanker" comes to mind.
I hear it most often pronounced Yoon-ker -very like the month of June with a very soft almost y of you j.
If it were americanized it would probably be June-ker.
say like YOUNg tanKER
YOUNKER for english accent.
Gosh, finally a post by that clown Grillo that makes sense! Yeah, that 1 trillion Euro QE is a boost for the German/central European industry only and nothing else at the expense of the PIGS countries. But those PIGS countries wanted it soo badly, so it´s their own fault. But watch out, you five star clowns, a lot of sane people in Northern Italy don´t wanna follow you on your path to a third world country and have plans to split away from the "Repubblica Italiana" to join the German/central European bloc.
I would be so happy if Süd Tirol left Italy and rejoined Austria.
Next up, the German-Belgian minority.
Südtirol, okay. But guess what, a lot of my friends in Friaul now think joining Austria is a great idea.
interestingly, both of you don't envision any South Tyrolean independency from both Italy and Austria. how so?
and create its own country?
Whats the point? A bunch of Austrians who were given to the Italians as an "I'm sorry for WWI" does not a new nation make.
so first you ask them back to Austria and now it's just "a bunch of Austrians"? ah, this carelessness with european borders and Peoples
I would venture to say a good chunk of those in Südtirol would agree with me.
My 'Italian' grandmother from Lago Maggiore had light hair & blue eyes. Also, named Gretchen.
I remember visiting Südtirol about 15 years ago. Went about 20 miles into the countryside outside Bolzano and tried to speak Italian-- just got bewildered looks from the entirely blond, entirely blue-eyed population there. Switched to English and everything went OK.
They are about as Italian as my pet cat.
so first you ask them back to Austria and now it's just "a bunch of Austrians"? ah, this carelessness with european borders and Peoples
I get the feeling you're really not into the whole "self-determination" thing. Messes with those sacred borders established by god-like bureaucrats in halcyon days.
Go on, stick up for Sykes-Picot. This I've gotta see.
Essentially this.
"Someone drew random lines on a map in 1918 and 1945 to punish those evil German speakers. They are sacred. Language and culture be damned."
Ghordius, my take on Südtirol is simply this. They are a part of the German culture, they speak German/a German dialect and most of them look pretty German. Besides that, i don´t care if this territory is part of an Italian, Austrian, German or Swiss state, this is not really important anymore in the times of EU for a non-Tirolyan like me. Fact is, the people of Südtirol were never asked what they wanted, so having a vote on this matter is long overdue. And if they vote to join another "nation" state, i´m all for it.
That I would love to see.
I guess that means that Austria would have to build a Navy, and the Germans would have to change travel plans. Would be cool though, as when the Germans annex Austria here in the not-too-distant future, Germany would stretch from the Med to the North Sea.
(Take the bait Ghordo take the bait)
Austria would have to rebuild a Navy, you mean. Though I fail to see how, from landlocked Südtyrol. Or do you want Austria to regain Croatia? That's not a bait, it's not even a bare hook
You do realise that Friaul is not landlocked, and I was responding to Wolfie.
Triest in Friaul is actually a city of three cultures Italian/German/Croatian and a major port city too. That´s why it´s one of most interesting places in Europe. People are far more advanced often than stupid morons like Grillo who just spills his hatred for other cultures.
If Greece defaults, Socialism wins. If Greece does not default mercantilism wins. Great choice.
Goldman Sachs is the winner for brokering the deals. Im going LONG nail guns
Exactly. Bribe politicians to get into financing deals that screw their constituents, get huge fees for years to negotiate the fixes. Big banks make money by things breaking. How big does a bank need to be before it starts breaking things?
The Euro is fiat. It has no value. It's all about servitude. It doesn't matter what the paper notes are called.
Unlike the Merkin dollar and tax paying workers enslaved by debt and the old folks on fixed income?
No, not unlike.
http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2015...
This eurocentric news pushes aside the real news, how the USA under Obama and Israel, working for Saudi Arabia, are moving heaven and earth to prevent an ISIS defeat in Syria. The USA is already supplying ISIS mercenaries with weapons, sometimes through claimed bad air drops of munitions. With the Syrian army now having trapped ISIS forces in Aleppo, Obama suddenly wants to bomb Syria. Obama's actions show he is a real Manchurian Candidate-type president. The record shows that Saudi Arabia rules the U.S. government.
http://21stcenturywire.com/2015/02/19/un-report-reveals-how-israel-is-co...
Good post, any red blooded, awake american knows the "House of Saud" is the enemy. There is hope, the mandatory Vaccine push opened many more peoples eyes. Like princess Laya said, the more you tighten your grip the more star systems slip through your fingers. Our numbers grow their numbers shrink it does not go the other way around. Once awake you can never be put back to sleep you can only choose to ignore.
Again with the vaccine! I think if you look at political cooperation before and after mandatory vaccinations you'll see people had more faith in government BEFORE vaccinations then after. In fact, it was the un-vaccinated that fell into lockstep towards vaccination. The evidence would indicate vaccination is the enemy of the elite.
And a whole bunch of stuff becomes clear if you believe that the house of Saud is actually Jewish.
He who leaves and devalues first is the winner. If the Greeks do it now, she'll be the hottest vacation destination through summer. Better hurry! Europeans are making their vacation plans now.
The way to screw yourself is borrow in another currency. A currency change from Euro to country's currency is a defacto default. The true question is; "Can the debt be repaid?"
This argumentation from Grillo IMO is nonsense:
First, the Euro was FORCED on Germany by the Alliies. The Germans would have loved to keep their Deutschmark. The fact that things are already completely turned upside down IMO is a clear indicator, how devastating the EURO, this evil construct under the flag of the twleve golden stars of the international hyenas and enemies of national souvereignity works.
Secondly the whole argumentation from Grillo is nonsense:
If a country can't bear it's debt, and if it has a government that is not the slave of the international hyenas, then there is one easy solution to the problem:
Just don't pay the debt. In case of Italy: exit the Euro and just don't pay the debt in Euros. Then the debt will have to be written off. No matter who owns the debt, the debt has to be written off.
Ofcourse this needs courage and real men like Adolf Hitler, definately not populists like Grillo.
Doesn't Grillo really not understand, that a creditor loses if the credit turns bad? Or is he just playing the old anti-German card of the international hyenas?
When i came to power, i took over a nation which was a democracy. Indeed, as long as Germany was a democracy we saw that everyone in the world came to their help and aid. Yes, the German people used to live in a democracy, and had been plundered and squeezed dry. No, what does democracy or authoritarian state mean for those INTERNATIONAL HYENAS? They're not interested in either!
They are only interested in one thing: Is anyone willing to let themselfes be plundered, yes or no? Is anyone stupid enough to keep quiet in the process, yes or no? And when a democracy is stupid enough to keep quiet, then it is good! And when a authoritarian government declares: "You do not plunder our people any longer neither from the inside or outside, " then that is bad.
If we, as a so called "authoritarian state", which differs from the democracies by having the people behind them - (applause). If we as an authoritarian state had also complied with all the sacrifices that the INTERNATIONAL PLUTOCRATS burdened us with; if I had said in 1933, "Esteemed Sirs in Geneva what would you have me to do?" "Aha! We will immediately write on the slate: 6 billions for 1933, 1934, 1935, excellent, we will deliver! Is there anything else you would like? Yes, ofcourse, Sir, we will also deliver that!" Then they would have said: "At last a sensible regime in Germany."
Of course Hitler had courage (I do not know what "real men" means, has a penis?) but absolute power corrupts absolutely. There is no escape.
RPC, you miss the whole point the Euro is the EMU, the Eurozone is different..... Germany wins big if the EMU fails and the Eurozone stays intact (read open duty free borders). Then they have 100million low cost hands to build the german designs, bear the social costs of having a empoverished manual labor force. It would be a bloodless take over of europe by the germans....
Banksters will win in every case.
Greece pays, the money goes to Banksters.
Greece defaults, Banksters get paid via EU, US FED, Germany...
Then they also work directly with Greece to make money off the new Greek currency.
No matter what the Banksters make money.
Yes, indeed. End the ECB and let the bankers go bust.
Everything is fucking peachy. Buy stawks. http://finviz.com/futures_charts.ashx?t=6C&p=m5
Buy the dips going on for years! Fed keeps printing trillions. Goes on and on until it can't.
Only 30%? Good luck with that....
The three men I despised the most,
Schauble, Dhragi, and Bill Gross,
Took the Gulfstream to Davos...
The day the Euro died.
Thanks Pasha
General Strelnikov to you...
That reminds me of something...
what a buffon, Beppe Grillo. he should have smashed more then just computers on stage. not going to waste time on this idiocy recap of his
a word for the Five Star Movement people, though: get rid of His Comic Idiocy, it's time to outgrow the founder of the movement
In Ghordo world;
Anyone who wants to leave the EUR is a buffon.
You´re right. Still it´s true, Grillo is just a clown.
And so was George Carlin.
There are all sorts of smarts out there, none should be rejected outright.
but we digress.
a good clown can make an ass out of you!!!!!!!!!
Haus, I know personally that buffoon, and found him deficient even in the Eighties, when I first met him. Nope, imo he is an idiot that just happens to hate computers and now the EUR
do you like him just because he wants Italy to leave the EUR? your choice
Ghordo - I like anyone who wants to leave the EUR.
then you should have lots of arguments refuting Beppe Grillo's points that the EUR is only good for Germany. if so... where is your intellectual honesty?
Sure I do, I think his assertion its good for Germany is relative compared to how shitty things are in Italy at the moment. I think both nations would be better off without the EUR, but that being said -- between the two Germany is doing better than Italy is with the EUR, although it has had growth severly retarded thereby.
Thats my intellectual honesty. Even so, I would vote for Vlad running into the Baltics and Finland with a few thousands T-98s if that meant the end of the EUR at this point & time. I am so sick of the propaganda, the dogma and the religious fervour of its supporters at this point & time anything to "Old Yeller" it would be a welcome change.
you talk about Old Vlad as if he had no propaganda team working for him. and you still hate the EUR as a reflection of the USD Hegemony? why don't you hate the Ruble, or the EurAsian Currency Union that Uncle Vlad is envisioning?
but at heart, you are a Keynesian, eh? see "...better than Italy is with the EUR, although it has had growth severly retarded thereby". Straight out of Dr. Krugman's Growth Through Window Smashing
I find your positions confused. I would not wonder if you will switch them a few times, in future
I could very well switch my positions in the future. I am human.
My positions are fairly consistent if you come at this looking at any political and financial situation across the globe with one thing in mind;
Will this event/person/election make the EUR and EU stronger or weaker? I thereafter always support the event/candidate/event that would make the EUR and EU weaker.
While my hatred of the EUR is economically based -- my hatred of the EU stems more from the meme that is constantly shoved down our throats that "All Europeans are Equal in all things" type of nonsensical bullshit.
I understand wanting to eliminate the "I am better than you therefore I will take you over" nonsense of the 19th and 20th centuries, but the EU has gone full retard in the other direction which will - given enough time destroy everyone culturally, which very well might have been the goal from the beginning.
"I understand wanting to eliminate the "I am better than you therefore I will take you over" nonsense of the 19th and 20th centuries,"
You do? How about Vlad running some T-98's on your soil.
It was clearly not meant to be taken literally.
"I would vote for Vlad running into the Baltics and Finland with a few thousands T-98s if that meant the end of the EUR at this point & time."
I dont't care what happens to the EUR, but I vote no on "Vlad running into the Baltics". Been there, done that. NATO stay the hell out too.
What did Finland do?
Not literal.
"It's literal until I get called on it, then it's not literal."
Fixed it
Poh blow me.
If you really think I want WWIII you need to have your head examined.
Both of you miss the point, Europes issues are a result of structural socialism and Crony capitalism. Until their are structural reforms, europe wont be fixed. the strutural reforms required are inherently deflationary.
In the immortal words of the other clown, George Carlin, "It's a big club...but you and I ain't in it!"
Clowns are free to speak the truth.
You know you are in trouble when the comedians make more sense than the financial & political elites who think of themselves as the smartest guys in the room.
www.traderzoo.mobi
He who exits first, exits best.
WTF?
"If we don’t have democratic control of the economy, we don’t have democracy." - Pablo Iglesias
A different take than the belief in the self-adjusting properties of unfettered markets.
one for all and all for one? anyone? anyone?
The Few for the Many (taxes) .... The Few for the Few (taxpayers for the burocrats) .... The Many for the Few (revolution) .... The Many for the Many (street crime) ! Je suis Juif !
So it's not whether to leave the Euro or not, but how quickly? Jeez, it's almost like these guys don't want to be in the EU/Euro-area any more. Nobody could have seen this coming.
are you serious? we have multi-party electoral systems, here. this means that yes, all kind of parties can be elected. but being elected does not translate in a majority in parliament
because there is no majority among the voters
And just look how well you're doing!
Anyway, people were asking where you were hiding out the last couple of weeks around here. I told them your pager went off and you were called in for long hours to save the Euro. Was I close?
I was digging. don't think this counts as "saving the EUR". define "how well you're doing". price stability?
Alrighty then... Does voting matter or not? Such a simple question, because if it doesn't, fuck it all already and get the "free-for-all" started already. Time to cull the fucking herd again.
the ugly truth is... not everywhere. Greece has elected a fresh team to lead it, remember? But of course even a fresh team can't change the Laws of Physics
Correction: Greece's new team doesn't want to change the laws of physics, but they've promised to do their best in untying the Gordian knot...
The EU is now larger than the holy roman empire...wouldnt want to be caught on the wrong side of that behemoth if it ever decides to revert back to its prussian roots. that's why you stll see states lining up to join...
Who do you think they would plunder? All the juicy targets have nukes, or friends with nukes.
Of course, what is going on now is a battle of economic plunder, a battle with ultimate consequences yet to be decided. Will the big one be an economic explosion, or a physical explosion? Stay tuned for daily updates on the Hedge.
I recall reading something about how Italy got screwed when it went from Lira to Euros due to the low value assigned to the Lira. The unfavorable "exchange" rate essentially put the property along the Adriatic coast on sale to the Germans. My favorite places got bought up (and developed) by Germans, much to the dismay of my Italian friends in Lecce.
Checkmate? Sounds like some kind of barbarous game played by people with stacks of barbarous relics...
German contingent to NATO Rapid Reaction Force doesn't appear to be ready to...um...react rapidly...
http://arstechnica.com/tech-policy/2015/02/short-on-machine-guns-german-...
The whole "free" world is getting a "free" ride on the backs of the American debt slave, but that's the way our MIC & bankers like it!
Just take the stuff the debt bought back, right? And then they still owe the money, it's a win win for calvin.
-that you don’t even have either of the first two problems because your neighbour simply goes bust and thus you lose everything (capital risk).
Maybe I am a bit too simplistic, but this seems the only one that really matters.
What do they "win" exactly?
Good question.
I think it's like finally getting rid of a dead beat tenant.
Sure, so long as that tenant isn't your neighbor I guess.
As Dad always said,
praise the lord for all small favors.
I never thought that made much sense.
It did for Hunter Biden, but maybe not
"I do not share .... your romantic vision .... of poverty !" .... Scrooge
Anyone who reads that and thinks there is a snowball's chance in hell of the Euro NOT melting down is a fool. And we're red (so maybe people are finally getting it).
Germany already won and most people havent realized. So quietly, Germany has conquered Europe, and now it seem to be the sole dictating voice. interesting that states continue to line up to join despite all the misgivings.
Interesting that Europe has been the only ones to do austerity and stabilize its spending, unlike the US that has been printing nonstop for 9 years now.
The winners...Germany, China. People should look at how Germany was itself formed from a bunch of bickering german princedoms..Merkel is using the same Bismark model to create her 4th Reich.
Sieg Heil !
Time for German to show about what a strong currency mean.
Time to start to speak about an "EuroMark".
I can't wait for a strong currency out there and stop the spoliation of the saver via inflation/weak currencies. Fuck devaluation !
Gold currency will be better of course.
Finally and Thank Fuck For That ( TFFT ) we are discussing EXITS.
Everything GOLDMAN will be PISSED ABOUT as it is easier to CONTROL the HERD under one Common Umbrella.
So Draghi, the Italian, is playing the German game. Draghi is also playing The Goldman Sachs game. Italy is the loser, as well as Greece , Spain, Portugal and others within EU. Winners are Germany and Goldman Sachs until Greece defaults and then everyone loses including USA. Now we know why Russia and China are feared and why Draghi has those bags under his eyes