With Just Hours Until Spain's Ultimatum Runs Out, Catalonia Proposes Its Own Central Bank

Tyler Durden's picture

It's D-Day for Catalan President Carles Puigdemont who has just a few hours left until 10 am on Monday (4am ET) to respond to the Spanish government's ultimatum delivered last week by the prime minister, demanding to know whether Puigdemont did, indeed, declare independence last week. If Puigdemont says yes, fails to respond, or provides another meandering answer, Rajoy will start the process under Article 155 to seize control of the breakaway administration in the coming weeks.

While Catalan television station TV3, which is controlled by the regional government, said Puigdemont will not give Rajoy a clear ‘Yes’ or ‘No’ according to Bloomberg, shortly after Jordi Sanchez, leader of separatist group Catalan National Assembly, denied the report and said that, after speaking to Puigdemont on Sunday, the Catalan reply to Rajoy "will be clear." Speaking to Spanish broadcaster La Sexta, Sanchez said he agrees 100% with Puigdemont’s reply to Spanish Prime Minister Mariano Rajoy, and that the response will be dignified and clear with no surprises, adding that a will for dialogue exists but the Catalan government will not renounce mandate given by the Oct. 1 independence referendum.

Meanwhile, El Mundo reported that Spain’s central government in Madrid is weighing two options it may impose on Catalonia if the region’s government unequivocally declares independence, El Mundo reported, without saying where it got the information. Madrid would either name a caretaker administration or a unity government made up of representatives of all parties, the newspaper said per Bloomberg. Regional elections would then be called in three to six months, according to the report. It adds that while Replacing the rebel government would require the state using special powers under Article 155 of the Spanish Constitution. that action is not imminent, and may not be taken if the Catalan government demonstrates it hasn’t broken away from Spain and instead will abide by Spanish law.

Earlier on Sunday, Puigdemont appealed for calm ahead of Monday's deadline: “The (Catalan) Government and I want to reiterate our commitment to peace, civility and serenity, and also to (...) democracy as inspiring the decisions we have to make,” Puigdemont said during at a memorial event at Barcelona’s Montjuic cemetery. “In these difficult hours of hope in Catalonia, let’s take a clear attitude against violence (...) in favour of civility, hope, serenity and respect.”

In any event, Rajoy will demand that Puigdemont clear up his “deliberate” confusion over Catalan independence.

“The pressure building on Puigdemont is absolutely enormous,” Angel Talavera, an analyst at Oxford Economics in London, told Bloomberg. “Anything that looks at all non-committal is going to make the government act” against his regional government.

As Bloomberg adds, "this week is shaping up to be a possible watershed for the region, a $250 billion economy that’s seen dozens of its largest companies announce they’ll move elsewhere in Spain rather than face the legal limbo of secession."

Here are the three possible outcomes tomorrow:

  • The best case for Spain is that Puigdemont, 54, renegs on his referendum promise and states clearly he didn’t actually declare independence for Spain’s largest regional economy. At that point his separatist alliance might start to unravel. That sets Catalonia on track toward early regional elections with an uncertain outcome to the balance of power, which currently runs in favor of separatism.
  • Alternatively, the worst case is - obviously - the opposite: should the Catalan leader and fomer journalist assert he did declare independence, Rajoy will use Article 155 of the Spanish Constitution to take direct control of the Catalan administration and sideline Puigdemont and his team. In that scenario, Rajoy eventually would have to call regional elections himself in order to return to normality.
  • A third option would be for Puigdemont to call regional elections himself. That would bring the Catalan political process back in line within the Spanish rule of law, allow a more measured debate on the rebel region’s future and may buy the president a couple more months in office at least.

To summarize Puigdemont's deilmma, if he says he does proclaim independence, the central government will step in. If he says he did not, the far-left Catalan party CUP would probably withdraw its support for his minority government.

“The end-game looks the same whatever Puigdemont does, Catalonia is probably headed for regional elections,” said Talavera.

And as the world, and traders, await with bated breath to hear Puigdemont' answer, at least 531 companies have already made their decision and transferred their legal bases out of Catalonia to other parts of Spain since the Oct. 1 referendum, according to El Mundo citing data from Spain’s College of Registrars. Furthermore, Spain’s largest banks have agreed not to recognize the government of Catalonia if it declares independence this week.

However, in a sign that Puigdemont may just force Rajoy to activate the "nuclear option", late on Sunday Spain's Efe news agency reported that the Catalan government believes the region would continue within the European Union and euro zone if it declared independence,  which would require the creation of a Central Bank of Catalonia (BCC) "as a monetary authority of the new country", with a staff of 500 employees.

While it is unclear if the proposition is a bluff, EFE cited a document that was prepared by the department of the Vice Presidency and Economy and Finance, directed by Oriol Junqueras, which was obtained by EFE, and which detailed what the Catalan economy would look like in a hypothetical republic. It was also unlear if there is any particular role for bitcoin or some other altcurrency in Catalonia's immedia future, if for some reason, the ECB decided that the breakaway territory would no longer be part of the eurozone, leaving a major question mark over what its future currency would be.

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wisehiney's picture

THERE'S how you start off on the wrong foot.

MozartIII's picture

Tru dat. We central banked our selves!!!

TBT or not TBT's picture

Cause nothing says sovereign like having your own central bank (or it having you)

JohnG's picture

I smell a Jew monster....

Rapunzal's picture

Probably Rothschilds owned. Whatever you do as long as the bank is a corrupt central bank not serving the people.

Slack Jack's picture

Don't be fooled into violence and war.

This article outlines roughly how people were fooled into the second world war:

Proof that Adolf Hitler was a double agent.


It seems pretty weird when you first read it, but its clearly true.

Slack Jack's picture

"European nationalists including France's Marine Le Pen and Geert Wilders in the Netherlands, while the World Jewish Congress expressed concern."

Speaking of Geert Wilders,....

Everyone knows that Geert Wilders is a religious Jew. Right?

This video contains some footage of him speaking (with his skullcap) at a synagogue:


cheka's picture

their own bank!  here come the marines

wildbad's picture

FYI - wearing a Yarmulka does not mean that you are a jew.

jaxville's picture

  And what has Geert ever said against the Jew?

wildbad's picture

FYI - wearing a Yarmulka does not mean that you are a jew. It is a sign of respect for the audience you are addressing.

Pendolino's picture

Do you have this programmed on a function key of something?

What's on the B-side?

Backin2006's picture

Remember, divide and conquer. This is the EU/Globalist strategy. It may appear to be sitting on the fence, but controlled regions of an EU superstate, rather than self-confident, sovereign nations with their own policies and laws, is exactly what they want.


Slack Jack's picture

What's on the B-side?

I have cut and pasted a section of the article Proof that Adolf Hitler was a double agent. http://www.preearth.net/phpBB3/viewtopic.php?f=22&t=1174 for your perusal:

Jews, Nazis, Ukraine and Hitler.

So, how is it that the Jews, Oleksander Turchinov, Arseniy Yatsenyuk, Vitali Klitschko, etc, have teamed up with the Ukrainian Neo-Nazis to conduct a coup in the Ukraine. Why is the coup always called a Neo-Nazi coup but never a Jew coup (look it even rhymes). The Ukrainian coup was organized by Jews; they got the most important positions of power. So it was obviously a Jew coup. Then why the Neo-Nazis? Simply so the lying press could say "It was a Neo-Nazi coup." I think these Ukrainian Neo-Nazis are actually a "false flag" group of Jews.

Hitler was the same. Hitler was actually a Jew.

I have gathered yet more evidence from various web-sites and people, and it gets better & better. It is very interesting;

1) Hitler ordered the tanks to stop for 3 days near Dunkirk when only a short distance away. This allowed the entire British army and part of the French army to escape to Britain.

2) Hitler refused to take Gibraltar and turn the Mediterranean into a "German lake". There was nothing to stop the Germans from driving through Spain (their ally) and doing the job.

3) Hitler declared war on the United States.

4) Hitler refused to allow the tens of thousands of tons of weaponized nerve gas that the Germans had produced (at Dyhernfurth an der Oder) to be used. Over 500,000 artillery shells and about 100,000 bombs filled with nerve gas were found in their storage areas (mainly at Krappitz = Krapowice) at the end of the war.

5) Hitler refused to conquer Britain. After Dunkirk, Britain was totally defenseless.

6) Hitler refused to authorise the production of jet fighters. The Heinkel He 178 had its first successful flight in 1939, but the Jews Milch/Goering/Hitler showed no interest in it. The fighter version, the Heinkel He 280, was successfully demonstrated on April 5, 1941, but the Jews Milch/Goering/Hitler refused to put it into production. Hitler wasn't interested in a plane that could travel a couple of hundred miles per hour faster than the others. Same story with the Messerschmidt jets.

7) Jewish financiers gave billions to finance Hitler's rise to power.

8) Only the Nazi's attempted to kill Hitler. The Americans, British and Soviets made no attempt to kill Hitler. It is known that the British refused to allow a number of feasible assassination plans to proceed.

9) An article from "The Jewish World" tells us that Hitler, Goering and Himmler, all have close relatives living as religious Jews in Israel today. Namely,
Hitler's nephew's grandson,
Matthias Goering - great-nephew of Hermann Goering, and
Katrin Himmler - the great-niece of Heinreich Himmler.

10) In 1932 the Jewish genealogist Karl Friedrich von Frank published Hitler's family tree. It was pointed out (June 16, 1932, in the newspaper Neue Zurcher Zeitung) that the name Salomon, which came up repeatedly in Hitler's maternal line, was unlikely to be Aryan. On July 14, 1933, the newspaper Osterreichisches Abendblatt published photographs of graves of various Hitlers from Jewish cemeteries and mentioned a cookbook written in Hebrew by Rosalie Hitler. Also, a number of Jewish families, surnamed Hitler, officially applied to have their names changed due to Hitler's (supposed) antisemitism. [Hitler's Vienna by Brigitte Hamann]

Learn from the past to prevent war in the future.


jaxville's picture

  Your doing your best to discredit the one leader of any Western country who stood up to the Jews in modern times. 

   I've studied this enough to know your premise is bullshit.  What are you really after?

Yukon Cornholius's picture

The power structure at the top of the pyramid remains the same and has 500 years under its belt. Freedom, independence, democracy and elections are simply distractions for the goy as they are bled dry. The masters can't but laugh at the masses.

fbazzrea's picture

i'm still wondering if China, Russia, Iran, Turkey, et al are going to kowtow to the Vatican. is there still hope?

ByTheCross's picture

Have you ever examined your 'bled dry' appraisal?

There are only two explanations as to why it could be the case:

1) To move to an extremely polarised world of aristocrats and serfs (the naïve explanation),

2) [deleted] (the incisive explanation).

Incidentally, I don't think there's any laughing going on - that's just your insecurity.

Bagelman's picture

That smell is the birth canal that had you. ????

YUNOSELL's picture

They should have disguised it better, maybe called it their sendrall bank

ScratInTheHat's picture

These Cats are a bunch of socialists! You know that right? Spain should let them go! Not that I like the Cats or Spain but it would work out better for Spain if they did. The Cats may just be doing the central bank (this is the best case) to get the EU to back them. The EU would like nothing more than a bunch of small weak states to control!

BobEore's picture

|The EU would like nothing more than a bunch of small weak states to control!\ indeed /// but what monstrous behemoth hides behind the puppet EU? The hand of international finance capital - and its' talmudist kabbablist clique, begins to draw its' final designs... for the enslavement of the west.

\at least 531 companies have already made their decision and transferred their legal bases out of Catalonia to other parts of Spain since the Oct. 1 referendum, according to El Mundo citing data from Spain’s College of Registrars. Furthermore, Spain’s largest banks have agreed not to recognize the government of Catalonia if it declares independence this week.\\

and history rhymes -agin! - a "bunch of socialists" may be pulling strings at the top... but the DNA of the Catalan is firmly in the camp of anti-socialist/anti-statist approach to 'life n living.' Twas but 80 some years ago, the combined forces of boshevie communism and talmudic fascism received their most stinging set back ever - a popular revolution against state and socialism & finance capital both...

as Barcelona and the rest of the eastern coast rose against Franco AND Stalin, to begin their brief experiment in "stateless livin." Crushed by combination of combines... run outta WallSt/CoL.

If they have the cojones of their ancestors... these peeple will dump their "leaders" and banks of all descriptions... returning to the roots /// of that most interesting period of the C20th...

when Nestor Mahknos' Black Flag militias kicked the asses of RED & WHITE terror ... Durruti & co drove the francoists out of Aragon... and Silvio Gesell was placed in charge of the economy of breakaway anti-statist Bavaria.

Brief glimpses of experiments in human freedom .... from the tyranny of "the STATE"

"Gesell was well aware, from the practical level of experience which Marx and the rest of the hired hacks lacked, that the effect of interest/debt/usury was spread throughout the entire structure of an economy – not simply in the direct application of debt charges. Because it was priced into every facet of the production and sales cycle, it built up into not just a charge against the livelihood of each and every citizen, but into a weakening of the overall circulatory system of the economy.

Only by eliminating this diversion of resources into non-productive ends could markets find their natural equilibrium and production and exchange run at full steam. This, not Marx’s obsession with the ‘surplus value’ extracted from labor as ‘profit,’ was the key to ‘capitalism’s’ malignant effect – remove the blockage and money would flow to where it could be most productively employed… to produce more wealth… not more money!"

GreatUncle's picture

Yep but if everybody is doing it what do you do except do as they do.

In the race to the bottom if you ain't got your own central bank usign CTRL-P you are stuffed.

70's US dropping the gold standard off the global reserve currency EVERYBODY ELSE HAD TO DO THE SAME or be left floundering with no growth.

Mazzy's picture

Growth?  What is growth?  Growth to the globalists means loweringng the drawbridge for easy invasion by hispanics, niggers, and muzzies.  We don't need that all for some stinkin' "growth".

ConnectingTheDots's picture

@wisehiney: you wrote: "THERE'S how you start off on the wrong foot."

Actually an publicly owned Central Bank is exactly the way to start. This allows the new state to issue its own currency and bypasses the Rothchild system.It bypasses the Euro zone, and provides the independence needed to start the new nation. No nation is independent if it does not own its own currency creation.

Unless of course you meant that the Rothchild system would then turn its resources on the new bank and smother the new nation before it is born. In that case, you may be right.

samsara's picture

Whoa motherfkr, that fukin seals it. Air strikes, in coming

Sizzurp's picture

Because printing your own currency is just too good a scam to pass up.

MaxThrust's picture

"Because printing your own currency is just too good a scam to pass up."

Much better to have a bunch of private jewish owned banks form a cabal name the FED to print it for you and then use the IRS to force the tax payers pay interest on the money to [said Private jewish owned banks]

MaxThrust's picture

"Because printing your own currency is just too good a scam to pass up."

Much better to have a bunch of private jewish owned banks form a cabal name the FED to print it for you and then use the IRS to force the tax payers pay interest on the money to said [Private jewish owned banks]

ebworthen's picture

Bakced by Gold and not ctrl+p - I hope and pray.

GreatUncle's picture

Sorry not a chance ... ain't enough gold for that.

Hence how we got into the position and the gold standard being dropped.

The circular argument.

Code Duello's picture

Wow, you really have no understanding of either history or economics!

Btw, the so-called gold standard that was in effect in 1933 was not "dropped".  It was abrogated.

Innominate's picture

There's always enough gold. It all depends on the price. The laws of supply and demad govern money too. If there were only one ounce of gold in the whole world to be used for all monetary transactions then gold would be worth tens of trillions of dollars per ounce and fully-backed gold-notes would be denominated in atoms.

2_legs_bahhhhhd's picture


Under the new economy, supply and demand is the inconvenient truth.The same globalists Have already deemed the forth most abundant element in the universe a currency.

The sheep have never been more malleable.

Jeffersonian Liberal's picture

As I've been saying since the start of this vote.

It is only supported because Catalonia is willing to move further to the left and further to EU supremacy than Spain has been willing.

They will provide a carte blanche port of entry for the invading hordes.

They will become the EU's puppet.

And how many ZHers thought this was some sort of independence/liberty movement.


Jeffersonian Liberal's picture

Central banks know only ctrl-P, not gold.

That is their krptonite.

1.21 jigawatts's picture

B-b-b-b-b-but thats anti Semitism!

Arrest Hillary's picture

This would be a great place to test an all Cryto National Bank .... "Catalunyas" ?

Implied Violins's picture

More like, 'Guernicans.'

And Pablo Picasso was not an asshole.

swmnguy's picture

Well, he may have been an asshole.  But he was never called one.  Not in New York.

GreatUncle's picture

It really does feel like others are starting to want to be able to CTRL-P for themselves not just the current entitled lot.

So up steps one group now ... fuck this we are going to print just like the current lot.

Can I starting CTRL- too?

The future is with all this CTRL-P whoever prints their own will always be the slave owners and those who can't no more than slaves.

There is no justification for any to be able to CTRL-P for themselves.


WW3 once that demand is started.

Giant Meteor's picture

That's the spirit ... double down !

World Cash Day's picture

Just pull the trigger Pudge.

steve2241's picture

Another Rothschild Central Bank!  Just what the world needs.

HowdyDoody's picture

I guess the Catalonian for 'Variofoukas' is 'Puidgemont'.



hotrod's picture

Because He who controls the currency controls the country.  This entire currency charade is really FOS.


"right after the referendum Catalonain leaders discussed to bring in more African migrants"





JibjeResearch's picture

Keep talking for peace and prosperity.. with Spain and the EU, at the same time... start collecting soldiers and weapon and be ready for battle...

The Art of War...

Always go the way of peaceful resolution.... if possible... , but taking a life to protect self... is the individual survival's right.. by the law of nature... taught by Sir Charles Darwin.