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Leverage is GREAT. Another excuse for the bulltards to pile in..
the EU treaty was BUILT in order to specifically PREVENT what the EU is presently trying to do with it, which is to bail out profligacy with printed money.
In fact, nearly every nation in the fuckin union outright CHEATED on deficits by signing swaps to GS and the other confettiers in order to bring present deficits down at the expense of an EXPLOSION in them later (now).
These deficits didn't materialize out of nowhere, they were engineered to happen. Nobody availed themselves of this more than Italy did. The EU is dead simply because the budget tricks and cashflow swaps that the nations signed to gain entry are now coming due and the growth hailmary that HAD to happen to keep them solvent did not come to pass.
In fact, amazingly, the nations who KNEW they signed away future cashflows and signed onto massive future expenditures as a result of these swaps, continued to behave as if their deficits really WERE what the lies said upon EU entry!
Yea exactly, treaties mean nothing. This is a perfect display of it, doing the exact opposite of what all members signed onto.
"specifically for Germany, it is also a key lesson from the experience of hyperinflation after World War I"
Damnit, just when we had waited long enough for most all the hyperinflation survivors to die from old age, he has to go and bring that shit up again. What's a central banker to do?
Send him a bathub, preferably one of questionable Chinese make.
I'll either be trading DMs within a few years or looking at 10k gold.
Right you are. Just wondering...who references the Weimar Republic more, Germans or Americans?
Since when has the EU followed its own rules (or listened to its citizens when they vote, for that matter)?
The EU is just the central kernel of the Globalist experiment. I wish the world could recognize the fact that the EU is the model for consolidation of power in the modern western world. It is based on deception and control. It is ruled by the worst kind of pernicious politicians in the world. It will fail eventually, but not before it takes the meager prosperity of many Europeans with it.
Democracy is in the process of being destroyed in the EU - permanently. And not one leading politician has the backbone to say what is really happening.
Snails and slugs get squashed under jackboots. That's next.
Democracy was always a facade to get the great unwashed masses to voluntarily hand over their freedom, rights, etc., to consolidate it all under one roof.
Now the trap springs, power neatly packaged with a bow, ready to be used by those in charge.
The masses will never get it. Freedom & Liberty actually don't suck, and their are the polar opposite of large central power structures, and certainly not symbiotic actors.
That is exactly right, Trav. It was designed to happen.
The Maastricht rules have very specific limits on government debt and budget deficits for euro member countries, and if they exceed those limits, countries like Greece would have huge fines to pay. So, beginning in 2002, Greece brought in Goldman Sachs to "help" hide their deficits, using complex financial products like cross currency swaps to push their liabilities into the future (now), and dress up their balance sheets. In other words, Goldman Sachs was brought in to help Greece cheat, circumvent the rules and fuck up the world at a later date.
Now, for governments to use cross currency swaps is not necessarily uncommon, but what's particularly amazing in this Greece/Goldman plan is the use of FICTITIOUS exchange rates. They basically crafted bullshit swaps, used fictitious (hopeful) exchange rates and turned these swaps into a $1B credit. Pooof! Just like that, they slice and dice a euro of debt into multiple euros of credit. That's what Goldman does. They take a unit of debt and extracts from it a pyramiding tower of new credit and money. Plus, these swaps - according to the Maastricht rules - can be moved OFF the balance sheets and hidden from the eye of regulators.
And now, of course, the debt is due and the entire european union is on the brink of unraveling, because for every one unit of actual debt there lies a pyramiding tower of credit built upon it. It's a trillion dollar Jenga game. Just another fine example of Goldman Sachs bringing this world to its knees. This isn't God's work. It's the handiwork of thieves and of devil's minions.
You know, it's really fascinating to see Goldman Sachs in the "middle of all these complex, highly leveraged, exotic trades [they] created, while the entire building collapses."* With so many implosions happening nearly simultaneously - whether it's super spike oil and GSCI to strike the match, or housing CDO's designed to implode, or obnoxiously aggressive collateral calls on AIG or the euro, et al. - and to see Goldman Sachs always in the middle, it's difficult to ignore that this wasn't all deliberate. Of course, the icing on the cake is the fact that Goldman's CEO gets the Treasury job right before the whole house of cards comes tumbling down.
Max Fischer, Civis Mundi
*quote from Fabrice Tourre
Treaties, bailouts, swaps, firewalls etc are all systems of postponement. We need a system that is designed to be as fail-fast as possible. If it will fail or should fail, it must fail immediately.
Examples of fail-fast system design:
1. The day Greece hands in its Euro membership form (or even thinks about it), it immediately becomes bankrupt, all its luxury yachts sink, and all government payments cease
2. Six sigma debt markets: as long as there is a 1-99.99966% risk of writedown, principal and interest immediately becomes due
3. Currency without intrinsic value becomes immediately worthless and vaporizes in the hands of the issuer in a violent ball of fire (instead of circulating for 40 years)
4. All cans on the roadside weigh 10000 tonnes and kicking the can causes immediate foot pain with no side effect on the can itself
5. Wearing a tinfoil hat causes immediate suffocation
Knowledge of such principles will then guide markets. Of course, some people will still try to join the Euro, kick cans and wear tinfoil hats and we neither can nor should do anything about that.
'Treaties? We don't need no stinking treaties.'
EU Treaty? Bah....just ask a Native American about how good your treaties are.
You mean those Indians with those tax free casinos?? hahahahahahah
'Tax free casinos' LMAO
'Hey sorry we wiped out your people and all that, heres a tax coupon and some cigarettes.'
And the tax free cigs, and the trade er, cough, cough, smuggling, concession between the US and Canada?
And the Fire Water.
"Fire water, that's what you want, Tonto. Fire water."
You should read up on some of the desolate reservations in the Midwest and southwest. Then maybe you'd develop a bit of compassion.
when you put primitives in a house and clothes, they're still primitives.
The injuns are living as they did 400 years ago...THIS is how their lives were then, brutal, short, primitive. Not like the introspective peace-loving noble souls depicted in stupid movies.
Native populations everywhere have similar issues, aborigines in Australia and subsaharan Africans are other examples. Everyone just expected them to happily jump on the bus of civilization and integrate right into ways of being that weren't within them?
If they were civilized, THEY WOULD HAVE BEEN CIVILIZED. Columbus would have landed to ports, ships, the wheel, written words, the iron age, etc. Biological evolution of disparate populations does not proceed at uniform rates.
Coming from a cherokee and shawnee indian family bloodline (my great-great grandmother died on a reservation), I strongly take offense to this.
I usually enjoy your rants...even IF I disagree.
Trav looks in the mirror and always likes what he sees.
That is, as long as its a uniform solitary reflection. AKA - the packet internet groper.
Mahatma Gandhi, when asked what he thought of Western civilization - "I think it would be a good idea."
Aside from touting genetic determinism - are you also touting the right of "the strong" to wipe out "the weak" - i.e. social Darwinism?
If you are - then there is NO civilization possible in your "philosophy" - only perpetual war - and thus no need for any dialogue, blog reading, debate or commentary - in which case any terrorism would be as valid as any colonization.
You see where this is going...?
The alternative of course - is compassion, help and dialogue - so please do let us know if you are in favor of speeding up and synchronizing "biological evolution" - or I'd rather say social evolution - or not?
You might educate yourself a little on this. Ogden's "Guns, Germs and Steel" is a good place to start. You might already be familiar with his "Collapse". I suspect we will all be very familiar with its content in the not-too-distant future.
Ogden says, briefly, on my reading, that there's a reason peoples develop at disparate rates, and it's not because some races are dumb fucks and some are the Chosen Ones. It's resources. That's all.
Jared Diamond was the author not Ogden.
"If they were civilized, THEY WOULD HAVE BEEN CIVILIZED" said the aliens landing in Europe 200 years after the fall of the Roman Empire.
Pay no attention to the extensive trade empire known as the Mississippian culture. Pay no attention to the copperworks found there. Pay no attention to the extensive engineering empires in Latin America, where the Aztecs build a freshwater Venice at the top of the world, complete with aqueducts. You think these people had NO contact with each other? You think they had divergent evolution during the few hundred years after their trade routes collapsed?
Pay no attention to the disruptive emergence of horses after Spanish colonization, and the sudden movement to nomadic lifestyles by the people of the Plains.
Pay no attention to the fact that the alphabet wasn't created until AFTER the land bridge to America disappeared, and that any culture without a written language is going to advance more slowly.
No, no. Only look at the surface, with as much normalcy bias as possible. It looks like this when we got here, therefore it has always been like this. The Venus Demilo was made without arms. The Romans were idiots who built nothing but ruins everywhere. There was never a seafaring civilization in Southeast Asia.
It's all in da jeans, I sez! Nutin ta du wit cultur, edumacatunz, ur dem der natrul rites.
I wonder if you took an internet IQ test and scored high, and then thought that meant that from then on you could just never bother to analyze anything, and assume that you are always right about everything, no thought or analysis needed? As if IQ means anything to an adult. Here's a hint, dumbass--IQ indicates the rate of uptake and integration of knowledge. If you have a high IQ, but refuse to learn anything new, then you are no better off than some welfare mammy on a reservation.
Trav7777: Ignorance and bigotry still prevails among those who are not as evolved as they seem to think they are.
Let me guess, this totally fucked up planetary environment and criminal time-bomb-in-the room-with-everybody financial system is "civiliation"? We're the winners? This is the best ever?
I lived and worked on the Navajo res. for 2 years as a physician.
Indigenous peoples everywhere have had a deep understanding of what it means to be human, and part of a living ecosystem.
This is not the noble savage argument.
I'm just saying, it's like that. It's ordinary. It's real. If it is not who you are, you won't get it. It isn't just cognitive, either.
Intelligence is completely situational. Monkeys are stupid in the middle of the ocean. Dolphins are stupid in trees.
I wouldn't be very smart in the middle of the Arizona desert, naked. How about you?
You forgot all the free blankets we gave them!
..along with small pox.
Bed bugs anyone?
ROTFL...ask the natives how good THEIR peace treaties were.
The injuns were in a constant state of war with each other
hmmm.... kinda like the goyim.
the joos have been in a constant state of aggression with the entire planet, as written into their holy texts
"The injuns were in a constant state of war with each other"
"The injuns were in a constant state of war with each other"
Like the protestants and Catholics; like the Canaanites and Israelites; like cats and dogs; like men and women; like Democrats and Republicans.
One of the drivers of the War of 1812 was to prevent the formation of an allied Indian nation south of the Graet Lakes to stop the eastward migration of the Amercian colonizers. Tecumseh who was spearheadig the diplomatic and military alliances eventually was killed in battle when his Britih allies abandoned him. The British request for Temseh's indian nation was dropped from the Peace Treaty between Britain and the USA when the Brits were routed in New Orleans. Although defeated Tecumseh is memorialized at the US Air Force Academy for his miiiltary genius.
The problem with digital money is... when hyperinflation kicks in you can't wipe your ass with it
Or heat your home...
Top comment! I collapsed laughing at that one.
Do not try and wipe the ass. That's impossible. Instead.. only try to realize the truth.
There is no poop.
and if you do,... please only use your left hand
In the absence of real dollars I recommend we burn Bernanke.
Who cares about a silly little Treaty?
so he has the same view as weber. maybe he should resign and go and run commerz...
What? You mean they are playing fast and loose with something as important as the money system?
Weidmann, speaking in Berlin, says hyperinflation shows why monetizing debt wrong
WOW! Please, please shout that in the ChairSATAN's ear!
In fact, didnt Bernank SWEAR before congress tht he certainly would NEVER monetize the debt!
Yeah, but he didn't say NEVER EVER, and furthermore, he had his fingers crossed behind his back.
So that's alright then.
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