"Subsidizing Scroungers" - The Germans Knew How 'Europe' Would End Back In 1997

Tyler Durden's picture

In 1997, Arnulf Baring (of the German-British family of Baring bankers) unleashed the following 'Nostradamus'-like prediction of how the euro would end (from a German perspective)...

"They will be subsidizing scroungers, lounging in cafes on the Mediterranean beaches.

 

Monetary union, in the end, will result in a gigantic blackmailing operation.

 

When we Germans demand monetray discipline, other countries will blame their financial woes on that same discipline, and by extension, on us. More they will perceive us as a kind of economic policeman.

 

We risk once again becoming the most hated people in Europe."

It appears that Arnulf pretty much 'nailed it'.

h/t @DanHannanMP and @K_Niemietz

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quintago's picture

all of it was right, except for the "once again becoming" part.

What did you expect would happen when you gave money you knew wouldn't ever be paid back....

Thirtyseven's picture

Wait, when were Germans ever "hated"?  Germans are awesome, though at times they have been swept up in a cyclone of totalitarianism, which to my knowledge has been the bane of human civilization ever since a warlord with a spear decided to call himself a King.

Occident Mortal's picture

People dislike Germans because they have a big chip on their shoulder after trying (and failing spectacularly) to subjegated 200 million Europeans. Twice.

They are always overdressed and very anal about things like punctuality and formalities, they have no sense of humour especially when it comes to laughing at themselves.

 

They are assholes. And they always blunder onto the wrong side of history then feel offended when the rest of mankind gets deeply pissed off with them.

 

Germans have zero EQ, they don't seem to realise when they are striding out... right up everyones nose.

 

Their national football team is called "Die Mannschaft", you could not make it up.

Freddie's picture

They have been used and murdered by the tribal banksters for hundreds of years.  The banksters profit from endless wars where Christians kill each other or Muslims kill each other or vice versa.

g speed's picture

that may be true but I'll tell you this ---to a man the German feels superiour to the rest of us--and thats a fact.

Dugald's picture

 

Ve haf vays of making you pay....

More than just a joke!!

Confused's picture

It is funny. The British spend their entire history subjegating people of all colors across the world. The French do the same. The Soviets. And yet, this meme of the Germans being the villans of a civilized world plays on. 

Take note, while the Soviets may have folded, and closed their military installations in Germany, another "Allied" force has not, and has a few remaining. 

Sovereign indeed. 

Ghordius's picture

the old adage is still valid: Vae Victis

Kiwi Pete's picture

So do the Chinese. And the Americans are renowned for it. But you're all wrong!

Apocalicious's picture

I'm not German, but I feel superior to you.

Ofelas's picture

"They are always overdressed and very anal about things like punctuality and formalities, they have no sense of humour especially when it comes to laughing at themselves."

Agree mainly on the dress, but more from a British point of view not American where sloppy dress seems to be accepted in all wards of life

"Germans have zero EQ, they don't seem to realise when they are striding out... right up everyones nose."

Remind me of Americans in world politics, internally though they do seem to have sufficient EQ to support a welfare state that the US could marvel at

"Their national football team is called "Die Mannschaft", you could not make it up."

They call their national football team "The Team"....wow unlike the Squadaria, or Le Equip or

"And they always blunder onto the wrong side of history then feel offended when the rest of mankind gets deeply pissed off with them."

Now depending on the time scale of "history", I can see two blunders (the second resulting out of the first) in the last 100 years but help me on the "always"! You are referring to the Battle in the Teutoburger Forrest in 9AD? The Anglo Saxon (well where did they come from) invasion of Britain? The Holy Roman Empire of German Nations forced christianisation of babarian tribes? Please elaborate...

 

 

Stimorolgum's picture

Occident, I dont know where you come from. But how would you feel if someone had the same prejudice against you?

zvzzt's picture

without trying to be offensive or even unfriendly, have you ever been to Germany? The 'being anal' about things is called: being upright and doing things right (like in Japan wehere things actually are done as promised/advertised). Humour is too personal and culturally specifiec to label it as funny/unfunny as an outsider. As example is the huge difference in US (not funny) versus UK humour (smart and witty). At least, in my eyes. 

Visit Berlin, Frankfurt or preferably smaller towns and you'll like it a lot. 

mojojojo's picture

I take it you have never lived Germany, otherwise you would know that you are generalizing. I think it is you who has a chip on your shoulder. Utter drivel.

schadenfreude's picture

Yeah sure. 80 million people are like you describe them. Your generalisation doesn't make your rant meaningful at all. Why the hate? Are you second class comedian that falied to made the people laugh in Germany?

nomofiat's picture

very true

been living in berlin for over a decade and still hate their guts.

BoPeople's picture
BoPeople (not verified) quintago Jul 15, 2015 8:24 PM

If you simply create it out of thin air at no cost, what right do you really have to expect to get it back unless the other party can similarly create it out of thin air at no cost? And what value would it have if the system was fair and everyone could create it out of thin air?

Exactly!! none ... and none.

scaleindependent's picture

Exactly. Excellent post.

Goldman Sacks did understand and facilitated the Greek debt fiasco. But I am wondering did the N. Europeans, including the manufacturing companies like BASF, Siemens, and Bayer truly understood that Greece could not pay. (I have no doubt that the German financial companies and banks were in on the fraud w Goldman Sacks), but the rest, not so sure. 

g speed's picture

you missed it----they knew they would get paid because "we're Germans you see"---how can they not pay?

TheReplacement's picture

What would a manufacturer care?  If Greece puts in an order and gets financing from anywhere then the manufacturer is satisfied and the deal is done. 

Stimorolgum's picture

In the financial world you don't challenge Goldman Sachs.

Paveway IV's picture

"...If you simply create it out of thin air at no cost, what right do you really have to expect to get it back unless the other party can similarly create it out of thin air at no cost?..."

Hey - stop slamming bitcoin!

scaleindependent's picture

Quintago,

 

Good point, but although Goldman Sucks and the German bank and financial companies conspired to load unpayable odious debt on Greece, I am not so sure that the rest of the N. Europeans and German manufacturing companies like ThyssenKrupp, Siemens etc truly understood that.  

 

Analogous to our 2006-2008 fiasco, the Banksters are again to blame for maliciously creating, profiting and then shorting the shitty mess (a la Goldman Sachs et. al.)

 

http://www.mcclatchydc.com/news/politics-government/article24561376.html

 

http://www.bloomberg.com/bw/articles/2013-09-12/how-goldman-sachs-made-m...

 

I bet some day documents will come out showing  Douche Bank, Goldman Sucks and the rest actually shorted Southern europes fall into hell. 

The Darwin Mode's picture

The Greeks need Admiral Ackbar worse than the Germans.

Buck Johnson's picture

He called it, but we all know that this banker and others in Germanyh where playng the bank game.  They where loan sharks and now they are in a problem that all banks get into when they thnk they can lend to everybody and squeeze them.  You see when you owe a bank 100,000 dollars it's your problem.  When you owe a bank 100 billion it's the banks problem more so than yours. 

Dr. Nick Riviera's picture

What did the greeks expect would happen when they borrowed money they knew wouldn't ever be paid back....?

buzzsaw99's picture

"They will be subsidizing scroungers, lounging in cafes on the Mediterranean beaches...

only after classic overreaching as germans are wont to do. they couldn't conquer russia so they attempt to bring southern europe into bondage with crooked bankers. thanks for playing, and here's a nice parting gift.

Cacete de Ouro's picture

What kind of a name is Arnulf?

Groundhog Day's picture

kind of like gandolf form lord of the rings

Vylahkinnen's picture

Well, you know, he was banker, but he also was a dragonslayer. Can't say anything bad about the man and they way he handled his sword.

schadenfreude's picture

It's of Germanic origin. Arn = Eagle and ulf = wolf

RaceToTheBottom's picture

When I was vacationing north of Dubrovnik, it was the Germans that had the coolest scuba kit and had the best time.  But of course they made the correct decisions and were rewarded for them.....

Dixie Flatline's picture
Dixie Flatline (not verified) Jul 15, 2015 7:38 PM

About suffering they were never wrong,
The old Masters: how well they understood
Its human position: how it takes place
While someone else is eating or opening a window or just walking dully along;
How, when the aged are reverently, passionately waiting
For the miraculous birth, there always must be
Children who did not specially want it to happen, skating
On a pond at the edge of the wood:
They never forgot
That even the dreadful martyrdom must run its course
Anyhow in a corner, some untidy spot
Where the dogs go on with their doggy life and the torturer's horse
Scratches its innocent behind on a tree.

 

In Breughel's Icarus, for instance: how everything turns away
Quite leisurely from the disaster; the ploughman may
Have heard the splash, the forsaken cry,
But for him it was not an important failure; the sun shone
As it had to on the white legs disappearing into the green
Water, and the expensive delicate ship that must have seen
Something amazing, a boy falling out of the sky,
Had somewhere to get to and sailed calmly on.

-W.H.Auden

BoPeople's picture
BoPeople (not verified) Dixie Flatline Jul 15, 2015 7:52 PM

Our purpose here is not dependent on banks, money, nations, wars, politics, productivity, assets, religion, media and entertainment and such. In other words, all of those things that occupy virtually all of our time are unimportant to our existence here and now.

We need not aspire to temporal wealth or to make idols of ourselves. It gets in the way of our being and purpose. But this, they do not want you to know. They want you distracted with temporal crap and ambitions. They fill you with false fear and even more false ego.

... and you lose yourself... to them.

Meat Hammer's picture

The problem with human beings is we actually think that we're significant, when we actually aren't any more important to the planet than your average dung beetle...probably less so. No species does more to fuck up this planet than humanity. We seem to forget that if the human race all dropped dead tomorrow, the Earth would still spin, the birds would still sing, and the sun would still shine.

wesson's picture

German really wondering why there are most hated in EU ???

May 2 WW is the answer.

Dr. Engali's picture

Last I checked that happened70 years ago.

SFopolis's picture

If your father murdered, killed and raped a thousand or so people 70 years ago, is he still an asshole?  

daveO's picture

Banker wars aimed at killing Christians. No CB's, no WW's.

WTFUD's picture

No mention of Deutsche Bank's Derivative Book.

BoPeople's picture
BoPeople (not verified) Jul 15, 2015 7:44 PM

There will be subsidized scroungers living parasitically in the banks of Germany. They contribute nothing, creating their fiat money our of thin air, and demand nothing less than ownership and slavery of entire nations ...

... who THEY now call "subsidized scroungers".

What irony! Yes, banking parasites are deservedly the most hated people on earth.

i_call_you_my_base's picture

Currency unions are terrible.

nmewn's picture

It would really suck if they "nationalized" the power & internet grids wouldn't it?

Not like thats ever happened before ;-/

Ness.'s picture

And like that!?  <poof!> It's gone

1's and 0's.. 1's and 0's.