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Another Energy Company Nationalized As Bolivia Follows In Argentina's Footsteps; More Pain For Spain

Tyler Durden's picture


Two weeks ago, when commenting on the (first of many) nationalizations of energy companies (yes, the collateral shortage we have been discussing over the past year is particularly in effect when it comes to energy assets, although one does not need superficially complicated theories to explain it), in this case of Spanish YPF assets in Argentina we said "How soon until any and every government follows suit in a world in which excess liquidity sloshing around makes expropriation of vital energy producing assets a key prerogative? And how long until the resultant (accelerating) collapse in faith of the monetary system, leads government to declare "monetary self-sufficiency" and confiscate everything that is not nailed down. In exchange for worthless pieces of paper of course. Just to make it "fair"." The answer: two weeks. As of a few hours ago, Bolivia has followed in Argentina's footsteps and has just announced it is nationalizing yet another Spanish company's domestic assets, in this case Red Electrica.

From Bloomberg:

Bolivia is seizing the local assets of Spain’s Red Electrica Corp. to give the government control of the Andean nation’s electricity grid.


President Evo Morales signed the nationalization decree today, Communications Minister Amanda Davila said in a telephone interview from La Paz. The Alcobendas, Spain-based company’s investment in its Bolivian unit was inadequate and the energy industry should be controlled by the government, Davila said.

As a reminder...

The takeover comes two weeks after Argentine President Cristina Fernandez de Kirchner announced the seizure of oil company YPF SA (YPFD) from its Madrid-based parent company, citing a lack of investment and the strategic importance of the industry. Since taking power in January 2006, Morales has seized gas fields, oil refineries, pension funds, telecommunications companies and a tin smelter in a bid to increase state control over Bolivia’s industry.


“Energy is a strategic sector that should subject to government control,” Davila said. “Red Electrica’s investments were excessively low.”


An independent auditor will set compensation to be paid to the Spanish company, Davila said.

Well, at least it's not a tribunal like in Argentina. 

Finally, does Bolivia have no fear at all what the "forceful" EU and Hispanic response to this aggression will be? Guess not: it just may be that if the troubled country is scrambling to sue everyone else in the worldfor expropriating its assets it will achieve... nothing?

So let's see yesterday Aregentina, today Bolivia, tomorrow... the rest of the world that believes the energy industry should be controlled by the government?

Luckily, this news, like every other news, is purely bullish for stocks. Because the alternative, namely that currency wars are dead and buried, and at this point it is all about trade wars escalating into outright trade regime defection, is too preposterous to even contemplate.

Finally, we fully expect the same kinds of nationalization that have happened in the energy area to promptly spread to other commodities most certainly including precious metals, in the process crushing efficient supply.


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Tue, 05/01/2012 - 13:54 | 2388706 GeneMarchbanks
GeneMarchbanks's picture

Ay Dios Mio!

Tue, 05/01/2012 - 14:18 | 2388763 Pladizow
Pladizow's picture

This is being done because there is No Peak Oil - SARC!

I'd put money on Ecuador being next.

Tue, 05/01/2012 - 14:19 | 2388786 francis_sawyer
francis_sawyer's picture

  "the energy industry should be controlled by the government, Davila said"


That always works well...

Tue, 05/01/2012 - 14:20 | 2388790 buzzsaw99
buzzsaw99's picture

It works better than having some foreign fascist haul it off for you at a price set by them in a rigged market.

Tue, 05/01/2012 - 14:35 | 2388842 francis_sawyer
francis_sawyer's picture

Yeah... As I always say... "Let the domestic facists set the prices and rig their own markets... You know ~ for the sake of the 'kids' & future generations"...

Tue, 05/01/2012 - 15:09 | 2388939 theTribster
theTribster's picture

That's exactly right! Every country should jump in the action against Spain, but why stop there? Italy as well, Greece too, if they own anything anymore. I imagine that has already been done by the ECB though. The trick is to do it just before the country gets a bailout, then it is too late because the ECB can fight but the sovereigns cannot.

Tue, 05/01/2012 - 15:15 | 2388953 Steaming_Wookie_Doo
Steaming_Wookie_Doo's picture

Well it took 500 years, but those Conquistadores are really getting their asses kicked now.

Tue, 05/01/2012 - 16:57 | 2389340 Zero Govt
Zero Govt's picture

someone is picking on Spain, they reallly have no influence/muscle it seems, talk about kicking a country when it's down!

this is just not "fair" ..let the UN/IMF usher in global communism, the EU is ready and willing and already sold completely on the idea


Tue, 05/01/2012 - 20:01 | 2389714 Buck Johnson
Buck Johnson's picture

It seems that they know that Spain is circling the drain and are jumping onto assets before the big banks and IMF try to use the US to retake them back.  Spain is done before the end of summer.

Tue, 05/01/2012 - 15:03 | 2388928 NotApplicable
NotApplicable's picture

Why would anyone think one form of plunder is better than any other just because it is "local?" It's that kind of thinking that allows it to happen in the first place, ala "Investing with Madoff the Crook."

But he's stealing for meeeeeeee!!!!

Wed, 05/02/2012 - 03:24 | 2390410 StychoKiller
StychoKiller's picture

O.T.:  Help get rid of the TSA:


Tue, 05/01/2012 - 16:24 | 2389225 steelhead23
steelhead23's picture

OK, its MayDay and this is just dying to be said:  POWER TO THE PEOPLE!


Few folks here in the US are familiar with the clash between the likes of JP Morgan and the proponents of public power in the USA.  I don't know about the rest of the country, but here in the PNW, public power is always cheaper than private, for-profit power.  Assuming that this is a bad move for Bolivia is not borne out by the facts.

Tue, 05/01/2012 - 21:14 | 2389849 mendigo
mendigo's picture

They had I thought reasonable justification - maybe its just possible that some Spanish multinationals are doing a poor job of infrustructure expansion in less than prime markets.

In US we would just regulate and oversite the crap out of them til they beg us to take it off thier hands is that a superior approach? I gather China is investing heavily in natural gas production in us - that will go well.

Tue, 05/01/2012 - 14:45 | 2388875 Seize Mars
Seize Mars's picture

"Davilar," verb.

Derived from the last name of Juan Pablo Davila, a Chilean stock trader who, in 1994, accidentally instructed his computer to "buy" when he meant "sell" and who subsequently attempted to recoup his losses by making increasingly unprofitable trades that ultimately lost 0.5 percent of Chile's gross national product.

Kind of like, "to Munson."


Tue, 05/01/2012 - 14:50 | 2388895 francis_sawyer
francis_sawyer's picture

The story doesn't end there...

After that... A new delicacy (which doesn't actually exist in nature)... "Chilean Sea Bass", became a popular dish in trendy NYC eateries...

Tue, 05/01/2012 - 15:59 | 2389140 BattlegroundEur...
BattlegroundEurope2011's picture

Look at the Privitisation of the UK energy sector.  The CUSTOMER ALWAYS PAYS (More)

Tue, 05/01/2012 - 14:40 | 2388788 GeneMarchbanks
GeneMarchbanks's picture

Let's just split the difference and say peak petrobuck.

Tue, 05/01/2012 - 15:31 | 2389031 SRSrocco
SRSrocco's picture


When the reserve status of the US DOLLAR disintegrates, countires are going to nationalize resources like never seen before.  I would imagine this will not be good for METAL MINES as well.


Tue, 05/01/2012 - 16:39 | 2389262 Think for yourself
Think for yourself's picture

Well, in a situation like this, I hope you've been stacking.

I was trying to save for an oz of Au which I would have bought in about 6 weeks, but this shifts my priorities. Even though my current Ag:Au ratio is currently above 100:1, I believe I'll go buy 15-20 oz of Ag straight this weekend. Silver is on sale anyways, I'll just hopefully switch some to Au when the value gets closer to 1:10.


Tue, 05/01/2012 - 15:39 | 2389059 BidnessMan
BidnessMan's picture

Ecuador already did it mostly.  Some private companies remaining with only production contracts.  Ecuador also won a judgment of $18 Billion against Chevron for Texaco's pollution back since the 1960's. (Chevron bought Texaco and inherited the problem).  Will be interesting to see if Ecuador can collect.  Now Ecuador is borrowing billions from China to build hydrolectric dams and other infrastructure, with repayment in oil. Will be interesting to see if the Chinese will finance the new oil refinery Ecuador wants to build.

Tue, 05/01/2012 - 14:40 | 2388856 battle axe
battle axe's picture

No one expects the Spanish Inquisition! Alert the Armada, we sail at the high tide....

Tue, 05/01/2012 - 16:05 | 2388877 Sudden Debt
Sudden Debt's picture

Eeuuhhh... You fired the sailors to fund your elephant hunt sire...
Budget cuts...

Tue, 05/01/2012 - 14:49 | 2388891 youngman
youngman's picture

Check the weather for hurricanes first

Tue, 05/01/2012 - 13:55 | 2388708 LawsofPhysics
LawsofPhysics's picture

The elite, and their government puppets know well that they can not suspend gravity and the laws of Nature.  An expected move, they want to be sure that their service remains stable.  Yours, not so much.

Tue, 05/01/2012 - 14:09 | 2388754 CPL
CPL's picture

I understand some of the BreX associates have been hiding out in Argentina to avoid extradition to Canada where I and tens of thousands of other investors have been waiting in anticipation of their arrival for 20 years.  We are going to throw them a duct tape parade!!!  (yay a parade!)

I'm so glad most of them moved into the oil exploration field personally.  Nothing bad could possibly happen with those numbers.  BreX associates were so well known for their honesty and reporting diligence.


I wish the Elites well in their new South American ventures.  They can call us if they need anything like Oil.

Tue, 05/01/2012 - 14:15 | 2388771 odatruf
odatruf's picture

Are you suggesting that newly discovered oil fields are really only where some bozo in a chopper seeded 10W-40 on the ground from a squirt gun?

You know what comes next: better buckle up in that chopper.  :)


Tue, 05/01/2012 - 14:47 | 2388886 Sudden Debt
Sudden Debt's picture

Lose some weight and throw that pallet of benjamins out, the weight is pulling you down.

Tue, 05/01/2012 - 20:20 | 2389746 CPL
CPL's picture

Definition of an oil man in a peak sweet light crude situation:  A liar standing over a hole telling you there's something down there.


It strikes me as odd that places that have been regarded as low yeild areas have suddenly increased in their output in an area of the world so agressively closing down refineries.  It is just so counter productive to the cause of locking down a national energy supply I'm never quite sure what half these whack jobs making the decisions are thinking.

Doesn't matter how much oil any rig can pump, it's refining it that makes it useable.  The shit pulled out burns, but people wouldn't want to put it in an engine they would want to use again.

Tue, 05/01/2012 - 13:55 | 2388711 Joebloinvestor
Joebloinvestor's picture

There is gonna be BIG FALLOUT over this (maybe).

What is the deal with South American countries siezing and nationalizing with abandon?

Sounds like a race to claim assets.


Tue, 05/01/2012 - 13:58 | 2388721 LawsofPhysics
LawsofPhysics's picture

South Americans don't trust paper promises.  They know that possession is the law.

Tue, 05/01/2012 - 14:53 | 2388900 machineh
machineh's picture

... and that maltreating foreign investors is a surefire road to riches ... as the immense population of billionaires in Venezuela, Argentina and Bolivia proves conclusively.

Suerte, comrade!

Tue, 05/01/2012 - 15:05 | 2388932 drysafe
drysafe's picture

But may be they're just trying to reduce the number of billionaires in Europe and the US?

Tue, 05/01/2012 - 15:43 | 2389083 LawsofPhysics
LawsofPhysics's picture

LOL!!!, Yeah, you are an investor and you want to give me some paper in exchange for a physical asset that keeps any economy going.  No thanks, I'll keep my own corrupt game a float a bit longer.  If by "mistreat" you mean no longer accept worthless fraudulent paper, then you would be correct.

Tue, 05/01/2012 - 14:24 | 2388805 pods
pods's picture

Maybe they have read "Confessions of an Economic Hitman?"

Tue, 05/01/2012 - 14:31 | 2388829 Hansel
Hansel's picture

Yeah, what's with these dumbass South American countries nationalizing energy companies?  Everyone knows that if you are going to nationalize something, you nationalize insurance companies (AIG), mortgage companies (Fannie and Freddie) and car companies/government work programs (GM and Chrysler).  Why the fuck would a country ever need oil?!

Tue, 05/01/2012 - 14:47 | 2388884 hedgeless_horseman
hedgeless_horseman's picture



Ding ding ding!  Ladies and gentlemen, we have a winner!

Tue, 05/01/2012 - 14:41 | 2388857 AnAnonymous
AnAnonymous's picture

Might be they were not convinced by US citizen propaganda, you know, that stuffing your coffers with freshly emitted paper while exporting your tangible assets is the best to aim.

Maybe they consider that they take the risks, not the US citizens, that they will be the ones to go around trying to find what to buy with their marvellous USD or euro electronic bits collection.

US citizens, they have already bought what they wanted with their USD and euros...

Tue, 05/01/2012 - 13:58 | 2388713 HarryM
HarryM's picture

Like vultures ripping out flesh of a  - not quite dead yet animal - ,  too weak to fight back.


How do we get in on the action? (LOL)

Tue, 05/01/2012 - 14:30 | 2388825 Momauguin Joe
Momauguin Joe's picture

Check Bush family caribbean coastal property in Honduras. Banana plantations already in place and producing.

Tue, 05/01/2012 - 13:56 | 2388716 buzzsaw99
buzzsaw99's picture

Good. Any country that would allow foreign bankers to trade two ply for real assets is a fool.

Tue, 05/01/2012 - 14:05 | 2388745 AnAnonymous
AnAnonymous's picture

Or maybe people who think they can walk away from an extortion scheme, just like that, are the fools.

Tue, 05/01/2012 - 14:17 | 2388780 buzzsaw99
buzzsaw99's picture

That may have been true even twenty years ago but the foreign peons are getting uppity these days and imo it is well past time. The Empire has a lot of balls to break and both knees are worn out.

Tue, 05/01/2012 - 14:17 | 2388781 Marco
Marco's picture

Keeping most of the profits inside the country is easy enough to achieve with taxation ... this is just posturing.

It's not like they don't need foreign expertise to build and run these things ...

Tue, 05/01/2012 - 14:21 | 2388793 Pladizow
Pladizow's picture

So tax and keep paper profits while the energy is exported?

Tue, 05/01/2012 - 14:44 | 2388874 Marco
Marco's picture

If you want more of it to stay in the country just keep increasing export taxes till you're satisfied (just like China does with rare metals for instance).

Tue, 05/01/2012 - 14:22 | 2388801 buzzsaw99
buzzsaw99's picture

That's why we better suck it out first and burn it before they learn how to do for themselves. LMAO!

Tue, 05/01/2012 - 14:36 | 2388847 AnAnonymous
AnAnonymous's picture

That is possible.

That might be why US citizens have launched a race to deplete the planet's resources.

Tue, 05/01/2012 - 15:12 | 2388947 NotApplicable
NotApplicable's picture

Luckily there's no such thing as "US citizens," so it's all in your head.

Tue, 05/01/2012 - 22:42 | 2390067 prole
prole's picture

US citizensinicity is eternal. Like General Chao's chiken and pork Flied rice, always on Menu! I will make a Great Leap Forward off roof of FoxConn Tower to make an international statement against great natural resource stealing theft of US Citizens!! (isms)

Do you want spring roll?

Tue, 05/01/2012 - 15:21 | 2388974 akak
akak's picture


That might be why US citizens have launched a race to deplete the planet's resources.

Make me laugh!

How richly ironic and hypocritical that is, coming as it does from a loyal citizen of the totalitarian Communist Chinese regime, which is now not only the #1 polluter on the face of the earth, but is engaged in an unprecedently rapid and manic race for just about every natural resource on the face of the earth ---- even to the point of ripping-up, toxifying and destroying hundreds of square miles of its OWN territory in the mad frenzy to extract gold, silver, and especially rare earth minerals, just in order to hoard them from the rest of the world.

But the rampant denialism and hypocrisy of Chinese Citizenism is well known.

Chinese Citizenism nature is infernal.

Tue, 05/01/2012 - 18:47 | 2389579 TheFourthStooge-ing
TheFourthStooge-ing's picture


How richly ironic and hypocritical that is, coming as it does from a loyal citizen of the totalitarian Communist Chinese regime, which is now not only the #1 polluter on the face of the earth, but is engaged in an unprecedently rapid and manic race for just about every natural resource on the face of the earth ---- even to the point of ripping-up, toxifying and destroying hundreds of square miles of its OWN territory in the mad frenzy to extract gold, silver, and especially rare earth minerals, just in order to hoard them from the rest of the world.

The reality is they left the boat when it started to smell ugly, resources wise.

But hey, people do not smell their own odor. That could well explain that Chinese citizenism citizens can not smell the smells of Chinese citizenism.

When a Chinese citizenism citizen is forced to admit one's own nature, it usually smells bad.

Chinese citizenism new world odor.



Tue, 05/01/2012 - 13:59 | 2388717 francis_sawyer
francis_sawyer's picture

Butch Cassidy is goin' down shootin'...


"Oh Good...For a minute there I thought we were in trouble"...

Tue, 05/01/2012 - 14:30 | 2388828 Gully Foyle
Gully Foyle's picture


Dude, check out Blackthorn

Tue, 05/01/2012 - 14:37 | 2388850 francis_sawyer
francis_sawyer's picture

With Sam Shepard, it's at least worth a try...

Tue, 05/01/2012 - 13:57 | 2388719 Dick Darlington
Dick Darlington's picture

Hey hey hey, Shrödinger diffusion index was up so all is well and stocks are up. Look away, nothing to see here. There must be a must watch American Idol or Dancing with the "stars" re-run on tv.

Tue, 05/01/2012 - 14:05 | 2388720 Quinvarius
Quinvarius's picture

And everyone is worried about gold confiscation as companies like GM and banks get nationalized here, and energy companies get nationalized everywhere else.  That is what Socialists do.  Can you bury your brokerage account?  The governments are going to try and take everything as their Socialism destroys free market capitalism.  Their final Socialist efforts to grab it all will be the last nail everyone's coffin.  Just wait for these failures to start going after farmers.  Then we are all going to starve while we burn.  And they will go after the farmers.  They always do. 

Tue, 05/01/2012 - 14:07 | 2388752 AnAnonymous
AnAnonymous's picture

Why distinguish between US citizens?

US citizens did take everything when they stole those entire continents.

Maybe better to say that theft is essential to US citizen economics?

Tue, 05/01/2012 - 14:18 | 2388785 Quinvarius
Quinvarius's picture

This is about a social contract between men and their governments.  Just as important, it is about what does and does not work.  Socialism and Communism do not work.

Tue, 05/01/2012 - 14:22 | 2388800 Pladizow
Pladizow's picture

No 'ism' works in a world of finite resources!

Tue, 05/01/2012 - 14:25 | 2388811 Gully Foyle
Gully Foyle's picture


Sure Socialism and Communism don't work. I mean that's why we have no Socialist or Communist states today.

Get back to me in a couple of decades and see who of the three prongs, Socialism/Capitalism/Communism is the winner.

Right now Capitalism is in the same boat as the other two.

Myself I favor the Benevolent Despot or Bakunin Anarchy.

At least then you lknow where you stand.

Tue, 05/01/2012 - 14:33 | 2388838 AnAnonymous
AnAnonymous's picture

Bolivian government is the government of the spanish people? Is it that or something?

Tue, 05/01/2012 - 14:54 | 2388906 Matt
Matt's picture

Bolivia is a country. Spain is a different country. The Bolivian government is the government of the country of Bolivia.

Tue, 05/01/2012 - 15:24 | 2388996 akak
akak's picture

Yes, Bolivians speak Spanish, therefore they are Spanish citizens, and are of course governed by Spain.


The world is clearly a very simple place in the mind of a Chinese Citizenism citizen --- too bad his wild preconceptions and prejudices in no way correspond to reality.

Tue, 05/01/2012 - 22:46 | 2390080 prole
prole's picture

He's busy right now. The Tibetans aren't going to exterminate themselves.

Tue, 05/01/2012 - 16:58 | 2389345 steelhead23
steelhead23's picture

Given recent experience in the US and elsewhere, it would appear that it is unbridled capitalism that DOES NOT WORK.  Have you checked the happiness index of any of those resource-poor scandinavian countries lately?  Contrary to popular belief, here in the USA, socialism does work - democratic socialism that is.  It is dictatorships and oligarchies that don't work.  The USA is one.

Tue, 05/01/2012 - 22:53 | 2390097 prole
prole's picture

When America was free (and Capitalist) it WAS the free'est and richest country in the world. Now that we are going command economy and Socialist, naturally we are getting poorer and the country is feeling more like Aushwitz than our "Land of the Free." Motto should be changed to "Land of the Arbeit Macht Frei".

Scandinavia is bountiful because they have an abundance of Nordic stock humans. What else would you expect from such a race?

How is your God "Democratic Socialism" or "Government is my master" working out in North Korea? Cuba?

Tue, 05/01/2012 - 14:09 | 2388762 LawsofPhysics
LawsofPhysics's picture

Haven't you been paying attention?  Many farmers have already been "MF-globalled".

Tue, 05/01/2012 - 14:21 | 2388796 Quinvarius
Quinvarius's picture

I know.  And that is all part of the process.  If the government is humiliated by gold prices rising, imagine what they will do when corn is 1 dollar a kernal.  Those "evil farmers" will be smashed into unproductive collectives and subject to price controls or price interventions to make it uneconomical to grow food.  Food will become scarce instead of just expensive.

Tue, 05/01/2012 - 14:56 | 2388913 LFMayor
LFMayor's picture

I think there will be plenty of socialists to eat. 

Tue, 05/01/2012 - 22:57 | 2390105 prole
prole's picture

That is not the way it played out in the Ukraine. The Commissars, "Socialists" or "Chosen People" stuffed their bellies in Moscow, the peasants, former land owners, kulaks, farmers and Christians starved to death if they weren't killed outright.

Tue, 05/01/2012 - 16:31 | 2389242 Piranhanoia
Piranhanoia's picture

You need to read more.  It promotes understanding fundamentals.

Tue, 05/01/2012 - 14:01 | 2388727 Spigot
Spigot's picture

And how long before Spanish, Portugese and Italian banks pull all the liquidity out of the respective banks in South America in an attempt to salvage some capital in the face of confiscation of assets and abrogation of contracts...

and how long till SoAm becomes the sink hole for capital being pulled out of Mexico, USA and Canada in a desperate effort to keep their own (SoAm) banks from looking like a vacuum implosion such as this:

Tue, 05/01/2012 - 14:03 | 2388736 Jason T
Jason T's picture

thats an impressive visual

Tue, 05/01/2012 - 14:08 | 2388756 Dick Darlington
Dick Darlington's picture

And how long before Spanish, Portugese and Italian banks pull all the liquidity out of the respective banks in South America in an attempt to salvage some capital in the face of confiscation of assets and abrogation of contracts...

Good point. And to add insult to injury, South American exposure by the spanish "household names" aka BBVA and Santander, has been the straw man for the pundits to keep on banging that these two are not just dependant on spanish market. Well, that just might change soon...

Tue, 05/01/2012 - 14:32 | 2388837 Spigot
Spigot's picture

As the Credit/Debt bubble collapses into a singularity the event horizon will swallow and and all liquidity into itself. At some point flows will start being pulled from the peripheral regions into the core a la shock effect on human body. BRICS are periphery.

Tue, 05/01/2012 - 14:03 | 2388729 q99x2
q99x2's picture

Take over the oil companies. Handcuff the owners and throw them into prisons. Looks like NWO better get its act together quick before the Rockefellers apply for food stamps.

Maybe they'll send some of the DHS drones and ammo their way before coming after us.

Market has the classic algo ramp look about it today.

Tue, 05/01/2012 - 14:01 | 2388730 LongSoupLine
LongSoupLine's picture



This must be bullish as stocks continue to climb.

It also must not be that important because several sets of breasts on the financial comedy networks are not discussing it.

Tue, 05/01/2012 - 14:01 | 2388732 The trend is yo...
The trend is your friend's picture

Please go to your local bank and convert your gold to freshly minted, brand NEW dollars in an orderly fashion.


Tue, 05/01/2012 - 15:09 | 2388943 toothpicker
toothpicker's picture

Too bad there are no local banks anymore

Tue, 05/01/2012 - 14:05 | 2388735 rwe2late
rwe2late's picture

in the process crushing efficient supply. ??

Not sure what the author means by "crushing efficient supply" of energy.

Billionaire oil sheikhs, supplying a global military that is the single biggest user of petroleum products, and rising food prices so SUVs can run on corn ethanol ?

Tue, 05/01/2012 - 14:42 | 2388863 AnAnonymous
AnAnonymous's picture

Efficient supply: supply that allows US citizens to consume as much and as fast as possible.

Tue, 05/01/2012 - 15:37 | 2389044 akak
akak's picture

Efficient Communist Central Committee-supplied internet connection: connection that allows Chinese Citizenism online trolls to troll as much and as fast as possible.

Tue, 05/01/2012 - 15:55 | 2389117 TheFourthStooge-ing
TheFourthStooge-ing's picture

Peoples Liberation Opium Parlors, celebration being in today now for glorious Day of May holiday making special.

Free opium the smoke to inhaling Chinese citizenism citizens when making troll bridge messaging of opposition to US citizenism with wifi hotspot is.


Tue, 05/01/2012 - 23:01 | 2390111 prole
prole's picture

And to think that this fvcker studied and learned English to do this!

If I hated somebody I certainly would not study and strive and learn their language. What a perverted incentive.

Ni Hao Ma you ********* POS

Tue, 05/01/2012 - 14:05 | 2388744 youngman
youngman's picture

Evo is a big....(actuallly he is quite little)...Socialist...Communist.....and its his day to do BIG can´t have a parade without a seizure of some Capitialist Company....and now that Chavez is under the radar gun.......someone has to spout the Communist/Socialist  line...This little Lennon only has a couple of exports to keep him alive....he is short electricity...well....this is good for his family..lots of new jobs for them...

Tue, 05/01/2012 - 14:08 | 2388755 rwe2late
rwe2late's picture

 Another "Lennon" ?

Just "Imagine".

Tue, 05/01/2012 - 14:21 | 2388770 GeneMarchbanks
GeneMarchbanks's picture

Yes, like that fine 'capitalist' company BEchtel which just one day decided it owned the rainwater in Bolivia.

Or maybe those fine capitalist organizations like the IMF and World Bank that have helped install all the miracle work of 'free market capitalism'.

Tue, 05/01/2012 - 23:03 | 2390116 prole
prole's picture

Wow that James Bond movie was a true story. BechtHell should be up there with Monsatan.

Tue, 05/01/2012 - 16:35 | 2389249 Piranhanoia
Piranhanoia's picture

Gosh, the leader of the nation doing right by for his people after 300 years of having their nations robbed by everyone that had a chance?   Got delusion much?

Tue, 05/01/2012 - 14:08 | 2388749 hedgeless_horseman
hedgeless_horseman's picture



So let's see yesterday Argentina, today Bolivia, tomorrow...

My momo always said, "The trend is your friend."

Tue, 05/01/2012 - 14:08 | 2388758 MarsInScorpio
MarsInScorpio's picture

So educate me: What are you going to do when (Obama, Romney, whoever - it doesn't matter, the Western Financial Elites own them all) confiscates your PM? How will its value be decided? When will you get paid for it? What will the form of payment be?

Is it true that all you precious metal bulls are seriously screwed by the companies that sold you the gold/silver/plat because they dumped the metal, and then you got dumped on? Have any of you even considered that, and if so, what - if anything - you can do about it?


Not trying to start a fight, but the US did it once, so it's easier to do it the second time . . .


Well, anyway, educate me.


Tue, 05/01/2012 - 14:16 | 2388775 hedgeless_horseman
hedgeless_horseman's picture



I am OK until the US government starts confiscating horses (again).  But by that time, I will probably be dead and buried, probably in a big hole with a bunch of other folk.

Tue, 05/01/2012 - 23:18 | 2390151 prole
prole's picture

educate me: What are you going to do when (Obama, Romney, whoever - it doesn't matter, the Western Financial Elites own them all) confiscates your PM?

Gold Bugs in US Citizenism Land are a eccentric minorititty. Why would the .gov confiscate the American Sheeple's gold WHEN THEY HAVE NOT GOT ANY??? The miserable pitiful small amount of gold held by 1% of Americans who are Gold Bugs is not even worth the trouble. Why confiscate the small amount of PM they hold? To pay for one more EuroVacation for Moochelle? To fund two days of the next wars worth of bombs and fuel?

How will its value be decided? When will you get paid for it? What will the form of payment be? Is it true that all you precious metal bulls are seriously screwed by the companies that sold you the gold/silver/plat because they dumped the metal, and then you got dumped on?

If dumping gold on someone is screwing them.... SCREW ME BABY YES YES!! PLEASE SCREW ME!!

So according to you, I guess the wise men brought Jesus Gold as the ultimate insult? And all those pirates, who fought and died and got Hanged in London trying to steal gold, OMG they were just stupid right!! (You fvcking idiot paid troll)

Have any of you even considered that, and if so, what - if anything - you can do about it? Not trying to start a fight, but the US did it once, so it's easier to do it the second time . . . Well, anyway, educate me.

Do about what? Worry about how high my gold is going to go in increasingly worthless US$$??

In 1933 the Sheeple actually had gold, and the paper currency was (pretended to be) backed in gold, so the .gov had to renig after too much printing.

Today GoldBugs are a small minority in US. We have been laughing at and disregrding the stupid worrying from the likes of you for decades!!  But I salute you for getting paid to troll while I post for free, for fun!! Your words are as dung falling from an elephant's hindquarters

Tue, 05/01/2012 - 14:23 | 2388802 ruffian
ruffian's picture

how are they going to do that exactly? gold sniffing dogs? In 1933 citizens did what the govt told them to. There were no prosecutions, no gold police..........think about it...........

Tue, 05/01/2012 - 14:56 | 2388814 hedgeless_horseman
hedgeless_horseman's picture



At the request of the ADL, I have removed my original post, which hinted that gold sniffing dogs are somehow related to people of the Jewish race, and replaced it with the following politically correct movie humor.  My apologies to Mel Brooks.*  He will have wanted me to use something of his, but this Animal House clip seemed safe and appropriate.


Hoover: They confiscated everything, even the stuff we didn't steal!


*In the Space Balls DVD commentary, Mel Brooks talks about how difficult it was playing the Yogurt character. The gold-colored makeup gave him a terrible rash on his face and neck (necessitating the shooting of all of Yogurt's scenes out of sequence), also his knees were hurting constantly since he had to walk around on his knees even though he was wearing kneepads. Brooks also talks about the various Jewish-related jokes (i.e. "Druish Princess", etc.) and how he felt ashamed for putting those jokes in the movie in the first place, but also felt proud for leaving them in the movie.

Tue, 05/01/2012 - 14:35 | 2388844 Gully Foyle
Gully Foyle's picture


I imagine it would become hard to sell or trade Gold. Therefore a drop in value.

I mean if there were a ban on Gold who the fuck would buy except Old Rappers. It ain't like you will be taking it to the seven eleven for gas and slurpees.

Do some research and see how well Gold as currency is doing in Utah? I'm not hearing any big news despite it's been a  year now..

Tue, 05/01/2012 - 14:39 | 2388854 Pladizow
Pladizow's picture

Zero critical thought!

Tue, 05/01/2012 - 14:42 | 2388866 ruffian
ruffian's picture

rhino horn and ivory are illegal yet they command extremley high prices for that very reason. Yours is such pitifully simplisitic thinking. If the govt wants your gold and they do not want you to bury it in the yard, they are going to pay you a very nice price for it as the digitasl dots and dashes they will pay you with cost nothing !!!! sheesh !!!

Tue, 05/01/2012 - 15:11 | 2388946 Matt
Matt's picture

That's why drugs are so cheap, because they are illegal so no one wants them. During prohibition, alcohol was cheaper than soda water, true fact!

Tue, 05/01/2012 - 14:26 | 2388815 Things that go bump
Things that go bump's picture

You know what they say about assumptions.  What makes you think people holding PMs are going to meekly hand them over rather than bury them and claim they sold them the first time the price doubled or that they lost them in a poker game or dropped them in the creek?  Roosevelt's scurilous trick hasn't been forgotten. 

Tue, 05/01/2012 - 14:41 | 2388860 Doubleguns
Doubleguns's picture

The dollar is no longer backed by gold. What reason to confiscate a barbarious relic. Confiscation would indicate they have been lieing all along and that it actually does have value.

The jig would be up and the dollar would collapse. Just saying.

Tue, 05/01/2012 - 14:32 | 2388834 Rossalgondamer
Rossalgondamer's picture

~when stackers stop accepting fiat in transaction - confiscation might become something to worry about.


Tue, 05/01/2012 - 14:45 | 2388878 blunderdog
blunderdog's picture

I think the comic-hero fantasy ending is a big shootout, during which the liberty-loving gold-hoarding marksmen defeat the evil government and forge a new utopia--some kind of compromise between Galt's Gulch and the pre-Louisiana Purchase US frontier.

Tue, 05/01/2012 - 15:09 | 2388944 LFMayor
LFMayor's picture

pencil me in for the shootout part.  I'm good for it.

Tue, 05/01/2012 - 14:52 | 2388902 Whoa Dammit
Whoa Dammit's picture

If you are worried about confiscation, turn your PMs into jewelry. It won't be taken by the .gov and is just as easy to barter with (maybe more so).

Tue, 05/01/2012 - 15:23 | 2388994 DonutBoy
DonutBoy's picture

What metal?  Mine was stolen officer.

Tue, 05/01/2012 - 14:10 | 2388764 AnAnonymous
AnAnonymous's picture

Ah, it shows why US citizens have to cling to power.

Spain is showing signs of weakness and pufff, the extorted wrestle their path away.

Hooked on power...

Tue, 05/01/2012 - 15:31 | 2389015 akak
akak's picture


Hooked on power...

Just as certain bigoted and hypocritical Communist Chinese trolls are hooked on the seductive, swirling clouds of denialism-inducing opium smoke inhaled during their online trolling sessions in the People's Lotus Blossom Opium Den and Internet Cafe, as they futilely attempt to sell the roadside turd of Chinese Citizenism by hiding it inside a shiny but toxic package to a laughing audience overseas.

Tue, 05/01/2012 - 15:58 | 2389136 TheFourthStooge-ing
TheFourthStooge-ing's picture

But hey, opium for the smoke to inhaling Chinese citizenism citizens of free now being for Day of May holiday special is.

Nevertheless, much frowning on of crapping to interior Peoples Liberation Opium Parlor, reserving it must one to roadside still going.


Tue, 05/01/2012 - 14:12 | 2388769 Jason T
Jason T's picture

Spain's Iberdrola also owns the East Cost's energy company, NYSEG is one part of it.  So I have to pay a Spanish utility my electril bills.  

The sun is again setting on the Spanish Empire



Tue, 05/01/2012 - 14:46 | 2388876 falak pema
falak pema's picture

If Argentina nationalises Messi we will have a revolution, as without its Messiah Barcelona will go totally Diocletian. Barbarians at the gates! What will Krugman do if the NBA loses all its foreign stars? Will he bring back martians to make the game exciting again? New slaves for the Empire that never ends. 

Tue, 05/01/2012 - 14:14 | 2388772 flyonmywall
flyonmywall's picture

It's pretty obvious what to do.

Tue, 05/01/2012 - 14:20 | 2388789 Apofigei
Apofigei's picture

The weaker the colonialist, the more daring the colony will become. It is not that those countires didnt want to rip off the foreign capital, it is just that they didnt dare before...

Tue, 05/01/2012 - 16:05 | 2389169 xela2200
xela2200's picture

That is how Latin America got its independence in the first place. They are not crazy enough to take on a country at the height of its power with a rag tag army of militia colonist. You have to be crazy to do something like that.

Tue, 05/01/2012 - 14:21 | 2388794 youngman
youngman's picture

I hope the world court....or someone like the UN does something to stop these little dictators...or it could get very usgly very fast...Socialist greed has no bounds....if there is no penalty for theft....then theft will spread

Tue, 05/01/2012 - 14:46 | 2388882 blunderdog
blunderdog's picture

That's sarcasm, right?

Tue, 05/01/2012 - 14:47 | 2388885 AnAnonymous
AnAnonymous's picture

if there is no penalty for theft....then theft will spread


No worries about that. US citizenism is spreading and considering how US citizenism has glorified theft... It goes beyond penalty, it is all about rewarding.

Theft is great, theft is the substance of human nature, humans rob, sub humans, non humans are robbed.

US citizen nature is eternal.

Tue, 05/01/2012 - 14:59 | 2388911 akak
akak's picture


US citizen nature is eternal.

Much like the squatting baboon-men shitting on the sides of Chinese roads.

Chinese roadside piles of shit are eternal.

Tue, 05/01/2012 - 14:21 | 2388795 Ted Baker
Ted Baker's picture


Tue, 05/01/2012 - 15:03 | 2388924 machineh
machineh's picture

The way to short socialist looter regimes is to SELL THEIR CURRENCIES.

For example, thanks to Komrade Kristina, the gray-market dollar ("Dolar informal") commands a 15% premium to the official exchange rate in Argentina. See for yourself:

Devaluation, Default or both -- the inexorable end game of looter regimes which produce nothing, but only steal from those who do.

Tue, 05/01/2012 - 14:25 | 2388807 Sandmann
Sandmann's picture

Britain will continue to have Spain, France and Germany owning its electricity supplies and China owning its gas pipelines in Northern England and Warren Buffett owning electricity transmission in Northern England and Australia owning water in London.

So long as they can churn assets the British Government will sell anything to anybody as part of its Whoredom Agenda

Tue, 05/01/2012 - 14:30 | 2388827 GeneMarchbanks
GeneMarchbanks's picture

Whoredom?! First off, +1 secondly... stolen.

There you have it, any wonder why 80% of RT correspondents have British accents?

Sell your wife, child or pancreas, just make sure it goes through London first.

Tue, 05/01/2012 - 15:34 | 2389047 theTribster
theTribster's picture

Rehypothication baby...London gets it because they invented it. The London bridge has benn rehypothicated billions of times, I think I have some in my 401 -:)

Tue, 05/01/2012 - 14:30 | 2388822 Let The Wurlitz...
Let The Wurlitzer Play's picture

I would watch miners in South America. 

Tue, 05/01/2012 - 14:38 | 2388849 Gully Foyle
Gully Foyle's picture

Let The Wurlitz...


Ages of consent in South America

In Brazil, the age of consent is 14, regardless of gender and/or sexual orientation, with a judicial precedent showing that a close-in-age exception that allows those aged 12 and 13 to engage in sexual activity with partners who are 5 years older or less is legal, although not legally formalized.[3] The age at which there are no restrictions for sexual activities is 18.

Sex with minors below the age of 14, at least for all those older than 18,[3] is equivalent to statutory rape and is legally defined by Article 217-A of the Brazilian Penal Code (see text here


in Portuguese) as the "rape of a vulnerable person", with a penalty of 8 to 15 years in prison.[4]


Tue, 05/01/2012 - 16:08 | 2389184 xela2200
xela2200's picture

Silver wheaton took a hit with Cristina's expropriation.

Tue, 05/01/2012 - 14:30 | 2388823 penexpers
penexpers's picture

The nationalization of the energy sector: KRUGMAN DIOCLETIAN APPROVED.



Tue, 05/01/2012 - 14:35 | 2388846 youngman
youngman's picture

The difference there is the British government sold it to the Country is stealing it.....

Tue, 05/01/2012 - 14:50 | 2388893 AnAnonymous
AnAnonymous's picture

Well, you know, as US citizenism spreads, it would not be surprising if those government stolen asset were later resold to some of the government private investor buddies...

US citizen economics. Maybe they have learned.

Tue, 05/01/2012 - 15:48 | 2389095 akak
akak's picture

Chinese citizenism economics.  Maybe they have shat.

Tue, 05/01/2012 - 16:01 | 2389151 TheFourthStooge-ing
TheFourthStooge-ing's picture

Eternal nature of Chinese citizenism dung beetle economics knows no bounds.


Tue, 05/01/2012 - 16:12 | 2389192 akak
akak's picture

Dung-rolling canibilistic blobbing-up denialistic algebraic coconut Chinese Citizenism nature is infernal.

Tue, 05/01/2012 - 17:02 | 2389368 TheFourthStooge-ing
TheFourthStooge-ing's picture

Dung beetlescent canibilistic parangongshow up-blobbingly roadside stool droppery of algebraic coconutist Chinese citizenism citizen nature is eternally infernal.

Its similarity to the resource consuming modality of Easter Islandish hegemony is abnormal and stultifyingly conformal.


Tue, 05/01/2012 - 23:35 | 2390204 prole
prole's picture

FoxConn Tower Leaping off Kung Pao Chicken serving Tibetan Culture Exterminating Precious Metals Hoarding Most Beautiful 20 year old Girl in the world Murdering (Tao Jing)   Long March Participating Re-education camp enrolling ex-Friend Flying Tigers help forgetting about Long Hours studying and Learning English Nature Chinese to bother us and be a pain in the @$$ on our otherwise kind and gentle blog

Live animal eating baby stealing Chinese Citizenism nature is abnormal

Tue, 05/01/2012 - 17:09 | 2389396 zapdude
zapdude's picture

There it is, ladies and gentlemen -- 'blobbing up'.  Everyone please up arrow this man.

I love ZH, but these hilarious skirmishes between AKAK, Fourth Stooge and AnAnonymous are just icing on the cake! 

Yet I cannot understand why does AnAnonymous keep coming back? 

Eventually MathMan, Internet Tough Guy, RoboTrader and even Trav777 -- maybe more? -- all slithered away. 

Maybe this moron will relieve us of his stupidity and leave us as well.

Tue, 05/01/2012 - 15:17 | 2388961 spentCartridge
spentCartridge's picture

The British government had to steal it off the British people before they could sell it.


And it will bite them in the arse soon enough ... we ain't all stupid.

Tue, 05/01/2012 - 14:37 | 2388848 overmedicatedun...
overmedicatedundersexed's picture

own the miners what could happen?? LOL

Tue, 05/01/2012 - 14:49 | 2388889 BobPaulson
BobPaulson's picture

The pain in Spain falls mainly on the sane.

Tue, 05/01/2012 - 15:07 | 2388931 bobola
bobola's picture

Could be a long delayed payback for what the Spaniards did in the Americas when they started the rape, pillage and stealing process starting in the 16th century.  

Like the Greeks who haven't forgotten what Germans did to them during WWII...???

Tue, 05/01/2012 - 16:17 | 2389206 xela2200
xela2200's picture

Ignorance is bliss I guess. The spaniards who did the screwing are still living in Latin America and, for the most part, they own the respective countries. Kind of like in the US.

Tue, 05/01/2012 - 15:19 | 2388968 lizzy36
lizzy36's picture

This is all very Quantum of Solace like.

When James Bond movies come to life is there Pussy Galore? 

Tue, 05/01/2012 - 15:40 | 2389069 Arnold Ziffel
Arnold Ziffel's picture

But...but...the NYSE is at a Fo' Yeer Hi

Tue, 05/01/2012 - 15:42 | 2389078 BidnessMan
BidnessMan's picture

Maybe this is the start of a global default and debt Jubilee?

Tue, 05/01/2012 - 15:54 | 2389114 Lost Wages
Lost Wages's picture

If you're a country and you want to get rich, sell all your resources to foreign corporations, spend their money on gold, then re-nationalize their corporations.

Tue, 05/01/2012 - 16:10 | 2389187 ZackAttack
ZackAttack's picture

Sell swaps on yourself that you then invalidate.

Tue, 05/01/2012 - 16:44 | 2389285 Cult of Criminality
Cult of Criminality's picture

Think outside the box

If you do not have solar power , you should .You can do the installation yourself.As stated before, China has blown away the fraudulent solar companies and has reduced the cost of their panels where you can or could, get a 100 watt panel for $130.00.

While everybody has been bitching about getting slaughtered in the silver and gold market waiting for the corrupt manipulation to end (that includes me).

Solar power keeps churning out the dough paying for itself and additional add ons.To keep it short Make your own energy,fuck them.

Nationalize this........ punk asses  

Tue, 05/01/2012 - 23:24 | 2390166 akak
akak's picture


Think outside the box

I don't know about you, but I have a very hard time thinking INSIDE the box!

Tue, 05/01/2012 - 20:23 | 2389756 Tipo anónimo
Tipo anónimo's picture

Not a surprise - something has been nationalized every year on May 1 since Evo took power in Dec. 2005.  It is considered a gift to the workers...  Not that it necessarily works out that way.  But that is the idea.

Tue, 05/01/2012 - 20:59 | 2389823 MiguelitoRaton
MiguelitoRaton's picture

Spain should give them 48 hours notice before either sending in missiles or carpet bombing the entire complex to rubble.

Tue, 05/01/2012 - 22:24 | 2390009 AurorusBorealus
AurorusBorealus's picture

It seems to be open season on European assets.  This is not really about Socialism / Capitalism - both terms with little meaning in today's world of fascist states.  The former colonial territories of South America smell the sickness in Europe, much as a dog smells out a cancer.  The real question, however, is how long until the dogs of the world smell the sickness in America?  And what is in your portfolio?

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