Nigel Farage Destroys EU Group-Think: "There's A New Berlin Wall... And It's Called The Euro"

Tyler Durden's picture

Submitted by Simon Black via Sovereign Man blog,

Standing before the European Parliament yesterday, it took Nigel Farage just four minutes to completely destroy every argument supporting the Eurozone.

A few years back when he spoke at one of our Sovereign Man events in Santiago, he anticipated everything that we’re seeing right now.

Today it’s not nearly as controversial to say that the Eurozone experiment has failed. Anyone aware of what’s happening in Greece should say the same. But very few people really understand why.

As Nigel explains in the video below, right from the start, the system was never intended to help the Greek people.

Greece entering the euro was great for Goldman Sachs. But terrible for Greeks. It chained the country to a system in which it didn’t belong.

And what about all the bailout money that’s been thrown at Greece in the time since?

None of it actually went to the Greek people. It went to bail out the French, German, and Italian banks who own Greek debt.

Sure, social welfare drags an economy underwater. But corporate welfare is what really drowns it.

Since the crisis, the country’s debt to GDP has gone from 100% to 180%. Tensions have skyrocketed, and the Greek people are suffering.

(Last night Zerohedge published footage of Greek people on the island of Lesvos raiding a food truck. Shocking.)

They are the ones that now have to bear the burden of a stagnant economy, capital controls, and inflation.

None of these measures have worked. And just watch as Nigel destroys this dangerous euro groupthink in four minutes.

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IPURDOM75's picture

Damn right Nigel ! Damn right!

J S Bach's picture

Getting rid of debt-based currency must be the paramount priority of all of the peoples of the world.  Once this is achieved, relative peace will naturally ensue.

Looney's picture

All Greek Debt has been caused by Barroso’s and Juncker’s unpaid parking tickets. ;-)

Looney

USisCorrupt's picture

AWESOME speach by Nigel, but he is always SPOT ON !

Save_America1st's picture

and that right there is why all the other psycho-sociopath evil bankster filth in that room surrounding Farage hate him so fucking much.  He's been the only one with the balls to call those fuckers out all these years.  I'm surprised he's still alive. 

Ghordius's picture

you did it. I was content reading all the comments, but you had to bring in the "banksters"

Nigel Farage is such a darling of the bankers that they made him a Fellow of the City of London

yes, he wants the UK to exit the EU. yes, meanwhile, the City of London did decide that this is not "in the best interests of British banking"

nevertheless, painting him as a critic of bankers is really a tad too much. he does criticize them, but only if they are Continental bankers, and central bankers to boot

try to ask him what he thinks about the EU Banker Bonus Cap, I'll take the popcorn to match that and will listen with a big grin on my face

nope. you won't hear him railing against British bankers, and you won't hear him railing against the Old Lady of Threadneedle Street, the Bank of England

only the EU and the EUR

gmrpeabody's picture

Bravo, Nigel..., bravo.

Ghordius's picture

for what? for, in his opposition to the EUR, being the near equivalent of a Canadian politician railing against the FED?

and what he is towards the EU has no equivalent

EU electoral rules allow his party to have plenty of seats in the EU Parliament, but frigging four million votes gave him one or two in Westminster, instead of over fifty for the SNP

Ghordius's picture

another myth from people obsessed with the Third Reich, and obsessed with trying to understand "who is the hegemon" in foreign lands

if there is such thing as someone or something "dominating" the eurozone or the EU, it would be the European People's Party

it gave us Merkel, Junker, but also Berlusconi, Sarkozy, etc. etc. and since Draghi was selected by Berlusconi and Sarkozy, it gave us also Draghi

Cameron, btw, took his British Torys out of the European People's Party. probably out of fear of... contamination

Multi's picture

I don't understand why people in this board fell in love with Mr. Farage.

You should listen what the guy is up for, not only what he is up against. Yes, he is against the EU...   and that's it. He said to Mr Tsipras "with a devalued currency... you will recover" (3:55). Devalued currency (!?) so that's the problem? There is no a productivity problem, there is no too much Greek State, All the problem is the Euro, nice... thanks for the advice Nigel. I would say the Euro is the only thing positive going on for Greek people right now, and Greeks SHOULD BE THANKFUL to the Germans for that.

Don't sweat to much Nigel anyway. Greeks are closer to the new Drachma than to the Euro, they will be blessed with a economic Valhalla...  Zimbabwe-style though.

I'm with Ghordius in this one, Mr. Farage is just an England nationalist.

 

Soph's picture

You're missing the point though. Nigel's comments are noteworthy because he is the only guy in the room suggesting an alternate, sensible, path for Greece. One can say whatever they like about how the problems in Greece began, and who ultimately bears fault and responsibility (hint, all the pigs at the trough, EU and Greek, are responsible). But the solution certainly is not more of the same. That helps Germans. It definitely does not help the Greeks.

 

Same spin as the TARP, QE, et al programs. If the pain would have been taken, the system allowed to clear itself of bad debt, and poorly run companies, households, and countries allowed to default, this entire mess would be long behind us. But we don't do that anymore cause it's, well, hard.

MsCreant's picture

Smoking gun, worth the watch.

gmrpeabody's picture

Business as usual in the great Northwest...

omniversling's picture

h/t for the link...GovCorp in action, with the fat policy enforcers ready to taze an inverstigative reporter for asking very relevant questions whilst attempting to excersise his right to record state legislators. Eyewatering evidence of the corruption in and of government. Corporofascism at the cutting edge...transparent, plain as day, in yer face...and this even WITHOUT TTP, TTIP and TiSA. 

And: http://arstechnica.co.uk/tech-policy/2015/06/wikileaks-releases-secret-t...

BandGap's picture

Next chapter - "Nigel and the Nailgun".

The Delicate Genius's picture
The Delicate Genius (not verified) Multi Jul 9, 2015 10:38 AM

don't be with Ghordius....

He's clearly not a dumb guy - but he's also got no idea what he's talking about.

boogerbently's picture

" what about all the bailout money that’s been thrown at Greece in the time since?

None of it actually went to the Greek people. It went to bail out the French, German, and Italian banks who own Greek debt."

 

This money was loaned with the expectation Greece would see the error of their ways and turn themselves around.

When they refused, these countries were paid back before any more money was lost on Greek socialism.

Not ALL underdogs deserve our support. You can blame it on banks/govt, but the PEOPLE voted to keep the same "free stuff" system in place.

NO sympathy from me.

Farage is the only one with a lick of sense in the entire discussion, over there. 

And he only got like 2% of the vote in the last elections.

Greeks, English, Americans...... get what you vote for.

Abitdodgie's picture

You get what you vote for , no with Diebold you get what they give you .

angel_of_joy's picture

... He's clearly not a dumb guy - but he's also got no idea what he's talking about.

Typical Euro jerk; must be working for the "common good"...

thesonandheir's picture

He might be but he has many excelent points in that video. Funny how the Scottish Nationalists got 1.5m votes in the General Election and got 50-odd seats, Nigels party got 3.5m votes and only got the one!

 

Sad the way democracy 'works' sometimes.

TheReplacement's picture

Yes he suggests a devalued currency for an independent Greece.  The most important thing about that is an independent Greece would, ostensibly, make decisions for itself with its best interests in mind.  That would be a huge improvement over the situation in the EU.

MillionDollarBogus_'s picture

The same Nigel Farage who said the artic ice sheet was not melting...

Hey, Nigel, sit down before you fall down...

froze25's picture

Its been growing over the last decade.

lasvegaspersona's picture

not nearly as much as the anarctic ice which is near all time highs....

Short Change's picture

Wrong - the sea ice extent is completely irrelevant -  The thickness of the land ice in antartica is at all time lows and shrinking.  Don't fall for propoganda, and if you can't do that, at least do a little research before you spread it.

dogbreath's picture

Flakzuki!!   where ya been bitch

PTR's picture

not nearly as much as the anarctic ice which is near all time highs....

 

check out the links on suspicious0bservers.

And usually with the daily video updates.

 

It 'tis, it 'tis.

 

 

apes hit's picture

Say what?! Can you provide a reliable data source to support this claim?! The NSDIC (National Snow & Ice Data Center) data I'm looking at sure seems to support a much smaller arctic ice cap trending over the last 35 years with June's measurement being the 3rd lowest June on record:

http://nsidc.org/arcticseaicenews/

Mr. Farage, in asserting the arctic ice cap grew year over year (2013, I believe), may have been correct factually, but one year does not make a trend; IMHO, he was wrong to have used that data point in his earlier speech.

That being said, I almost always enjoy listening to Nigel deliver a speech....if not just for kicking the hornets' nest a bit and providing some contrarian (and mostly truthful) opinions. This one about recommending Greece exit the Euro certainly is one of those.

schnydz's picture

Please. It is within std deviation and trending much higher than 2012. And how about the antarctic sea ice? It is ABOVE avg and std deviations AND is about to trend above 2014 record high. AGW is bullshit, move on. 

Short Change's picture

This, like so many "news" stories has been framed completely out of context.  Sea ice coverage in Antartica is independent of land ice (glaciers).  Sea ice is a product of ocean currents, which are changing from the historical background.  Land ice coverage is most certainly shrinking (the thickness of the glaciers most importantly).  Furthermore, as the land ice sloughs in to the ocean it briefly bolsters sea ice coverage.  This doesn't change the fact that the volume of ice in Antartica as a whole is trending down (and has been for more than a decade at least), which is the only real indicator to pay attention to.

Roevskalle's picture

Every time when different indicators show different things, "the only one that is worth paying attention to", is the one that shows what I want it to show. You say dont listen to propaganda that the ice is growing, but what I hear now is a lot of propaganda that it is melting. You brought this issue up in the first place, and you continue to aggressively argue for the "only one and true point". Not a word you say is credible. And I haven't even taken a stand, I don't wish to claim that you are neither wrong nor right, because its off-topic, but Jesus what you come with now is so propagandaish. Like the russian troll-army, but promoting man-made global warming.

TheReplacement's picture

Ignore it is or it isn't.  If it really is caused by man then man has the ability to cause it to change.  Ok.

Think.

Think hard.

Think really hard.

Ok stop.  I can't stand it when you make that bizarrely contorted face.

Ask yourself a question.  Which will better support life on this planet, a warmer and wetter climate or a colder and dryer climate?

Ok, back to the thinking part.  Call me when you get the answer.

 

Abitdodgie's picture

Who was that idiot that went down to Antartica to prove the ice was going and got the ship stuck in the expanding ice sheet , you cannot fix stupid, but if the fed gov't gave me a grant of 1 million USD to prove the sky was pink then it would look really pink to me .

RealityCheque's picture

I'll add Irish PM Enda Kenny to that "glorious" list. But I think he just serves coffee and blow jobs at the EPP meetings.

nosam's picture

Nigel os controllerf opposition. You dont get anywahere near centers of power unless you are a member of the tribe.

escapeefromOZ's picture

Time is running out for the tribe and their financial games . 

The tribe would be better to plan to flee to the Apartheid state of the Zionist Oblast in Siberia when the SHTF , because anything can happen including hunt the Jew games .

The Delicate Genius's picture
The Delicate Genius (not verified) escapeefromOZ Jul 9, 2015 10:35 AM

what are you... nuts?

caconhma's picture

Greek PR has fucked up everybody. He was looking on his way to keep his office by losing the referendum and make a deal behind Greek people back. But the referendum went against his wishes and Brussel bureaucrats. And now:

  • He is in no-win situation since he cannot sell his people against their strong referendum results
  • Germany cannot give any relief to Greece since pro-Euro & pro-EU government in Spain, Italy, Portugal, and France will go down with these countries demanding the same no-pay and debt-cut deal.

It appears that the Banking Mafia NWO is unraveling in Europe thanks to the referendum.

JuliaS's picture

A Canadian politician rallying against the Fed? What a perfect example! I dare you to point one out. Just one! Try and you'll understand why Farage is such a breath of fresh air! Look among Canadian bankers... ex banker even! How about Mark Carney? Oops! Bad example!

Mr. Chordius, tear down this avatar!

Ghordius's picture

JuliaS, my avatar stands for balanced budgets

and if this is "too much", then forget all about a "Return of King Gold", and we will all battle Krugman's War Against Mars, and add broken windows twice in the GDP calculations

angel_of_joy's picture

Show me an EU country with a balanced budget, which is also actively paying back its debts... as Greece is required to do now.

Ghordius's picture

required? lol. you truly don't know what you are talking about

have a look how much Greek sovereign debt was already forgiven, and let's make a wager on how much will be forgiven/defaultet in the next twenty years

El Vaquero's picture

Balanced bugets and debt backed fiat currency systems are mathematically mutually exclusive.

kkvakk's picture

Here is a politician who reads Zero Hedge :D

ebworthen's picture

They'll be easier to hang in smaller groups.