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EFSF Denies It Is An Illegal Pyramid Scheme
If there is one thing one can say about the insolvent European continent is that despite everything, it is a bastion of truth, and a knight of see-thru disclosure. After all, who can forget such brutally honest statements as "Greece will not default", or the follow ups: "Ireland is not Greece", "Portugal is not Ireland", "Spain is not Portugal", "Italy is fine", "Italy has turned down money from the IMF", "The IMF has never offered any money to Italy", and then the old standbys, "the ECB will not be a lender of last resort", "the EFSF will use 4-5x leverage", wait, make that "the EFSF will use 3-4x leverage", and last but not least, "Europe is not America" and "it is all the fault of evil CDS speculators." Well we have one more to add to the list: "the EFSF is not an illegal ponzi scheme" - because after the mindboggling report in the Telegraph yesterday that the EFSF has bought hundreds of millions of its own bonds, exposing the scam in the heart of the Eurozone for anyone to see, the European rescuer of last resort (at least until the ECB comes out monetizing and Eurobonds are issued)has no choice but to join in the parade of truths and as Reuters reports "said on Sunday that it did not buy its own bonds last week, denying a British newspaper report that it spent more than 100 million euros ($137 million) to cover a shortfall of demand. "The EFSF did not buy its own bonds and the book was 3 billion euros," an EFSF spokesman said, referring to the 3 billion euros raised in last Monday's 10-year bond issue." We are certain that in order to dispel rumors about its fraud-i-ness, the EFSF will promptly submit a full breakdown of the entities that received bond allocations (we know that Japan is good for €300 million, that China is good for €0.0, and that as Merkel said one week ago, "hardly any countries in G20 have said they will participate in the EFSF." So, because we believe everything that comes out of Europe, we are patiently waiting to see just who it was that bought EFSF bonds when nobody else did. And yet what is most troubling to us, is that it took the world 5 minutes to completely agree that the EFSF is a ponzi scheme, with nobody doubting this supposedly "refuted" disclosure for even a second. Perhaps that tells you more about the current state of Europe than anything else...
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Ben Bernanke and his 'fiatsco flame thrower' (hat tip some commenter on ZeroHedge), funnelling digits through the Cayman Islands, trading favours with the Eurocrats, that's who done it.
Give the Central Bankers credit for some subtlety, at least.
Why stop at 5x-6x leverage? At this point, why not just do infinity leverage? Wouldn't that inspire "more confidence" if the backstop was infinite?
EFSF = European Full Scale Fraud
eurozone gold has been sold. China and the US are now the owners of the yellow metal.
Snake oil...
China got it all. The US has no Gold. Who would want that backed by nothing, barbarous metal but the Chinese that just like shinny and rare earth metals.
Europe Finds this Shit Funny
No fucking wonder they're trying to make any criticisms (arcane, intelligent, analytical or even just funny) illegal.
When the going gets tough, the tough get weird.
Euro Fraud Slush Fund
European Fan Spattering Feces
Exactly. The EU has been a complete failure if one assumes that the
object was to "solve the debt crisis". But if you assume that the
object was to absolutely indebt (enslave), dictate the appointment of
"national leaders", and provide the appropriate "austerity" to all of
those nations dumb enough to be coerced into the ComUnion, then they
have succeeded superbly.
Well Europeans banks in 2008 had at least a 80-90x leverage... and that was ADMITTED to... so I doubt they will stop at 5-6x leverage.
If a little is good, a lot is better.
Always. In everything.
Now, go watch football and make plans for an all-you-can-eat buffet.
rescued by the ILB.... Infinity Leverage and Beyond
What did you expect? They need to keep it up and running as long as possible.
They need to end it, quick...
But no, apparently we need more of it, because you can't have too much integration can you?
Time to let Madoff out and back to his rightful place at the head of the Fed/ECB, you can take your pick...
Charles Ponzi has now been completely rehabilitated. The new term replacing "Ponzi Scheme" is " The Bernank Scheme" or, perhaps, "Paulson Scheme".
These guys put Bernie madoff in the piker catergory
Hyman Roth; to Micheal Corleone ; about Frankie Pentangelo. " He is small potatos"
Oh side note: the term replacing "Ponzi Scheme" is "quanitative Easing"
We're under a "step" plan.
http://www.bloomberg.com/news/2011-11-13/debt-cut-deal-may-be-two-step-process-supercommittee-s-hensarling-says.html
This has to be the most pathetic excuse for leadership I have ever seen. It makes the Europeans look good. They are struggling to find a trillion in savings over 10 years, all back end loaded no doubt....while over the same period they are going to increase the debt by about 10 trillion????
The best part is the terrifying consequences if they do not come up with a deal....automatic cuts in 2013 (oh, how convenient...just after the next election). How about if they don't come up with a plan to balance the budget in 2 years we put the entire congress to death.
all back end loaded no doubt
My guess, exactly. No austerity on our watch. Leave it for the next guy to deal with.
we put the entire congress to death
My thoughts, again. Try for treason, anyone who has voted for, or signed, a deficit spending bill (except in time of war).
You can't make this stuff up, lol. Wtf have they been doing since August?
"The clock is running out, but it hasn't run out yet. We still have time, but we have no time to waste," Republican Senator Patrick Toomey, a member of the committee, said on "Fox News Sunday."
http://www.reuters.com/article/2011/11/13/us-usa-debt-supercommittee-idUSTRE7AC0LS20111113
europe has a lot of creedeebeeleetee!
You could argue about the EFSF
Until you are blue in the face.
The fact is this:
The "Alpha-Dog" PigMen remain in full control.
The Ponzi Pyramid Scheme known as fractional reserve banking is still in effect.
Wash, Rinse, Repeat cycles continue as they always have over the last 1000 years.
I remember reading about "The Tudors", King Henry VII saved money, spent like a miser, and the kingdom became rich. Henry VIII blew it all with flagrant spending and excessive taxation and the kingdom nearly went nearly broke.
That was 500 years ago.
Nothing has changed.
No they don't...
'You could argue about the EFSF
Until you are blue in the face.
The fact is this:
The "Alpha-Dog" PigMen NO LONGER HAVE full control.
The Ponzi Pyramid Scheme known as fractional reserve banking is still in effect.
Wash, Rinse, Repeat cycles continue as they always have over the last 50 years.
I remember reading about "The Tudors", King Henry VII saved money, spent like a miser, and the kingdom became rich. (FUNNY THAT) Henry VIII blew it all with flagrant spending and excessive taxation and the kingdom nearly went nearly broke. (SO KINGS SAVING MONEY IS GOOD, SPENDING TOO MUCH MONEY IS BAD)
That was 500 years ago.
Nothing has changed. ABSOLUTELY...
There you go, fixed it for you...
You omit the fact that many 'pigmen' have lost their heads along the way.
hey Robo_T!
geat post!
even on a light day~~right thru the maxi-pad!
"the EFSF is not an illegal ponzi scheme"
should read:
"the EFSF is a legal ponzi scheme"
Exactamundo
May Gold Stars be Showered Upon You for the Moment of Clarity
brilliant, bennyboy
the truth hiding in plain sight
ole' modified double negative ploy
how dumb do they thing we ar....nevermind
...and they sounded so sincere.
http://www.youtube.com/watch?v=sh163n1lJ4M
Who was it that said: you can't verify its true until they officially deny it?
The Committee to Re-Elect the President.
"Glaube nie was die Politik sagt, so lange es nicht offiziell dementiert wurde."
That's actually from Otto von Bismarck, of all people.
Bosch CEO.
"In the interview Fehrenbach also criticised the economic and regulatory environment in Greece, saying he would not build another plant there."
http://af.reuters.com/article/metalsNews/idAFL5E7MD0IT20111113
Doesn't really matter what is said. The Ponzi scheme began in 1913. Selling new reform, security, and spawning written international governance laws to protect US taxpayer revenue streams from being uncollected is a good cop/bad cop approach. 2012 has always been the goal for the new beginning program. Epic failure will ensue for planners.
Note the wording in all of this..."denies it is an ILLEGAL pyramid scheme".
Meaning.........it's a LEGAL pyramid scheme.......which they have created just for themselves.
This is why public schools create a general population with extremely low level math skills........
....math is for the elite controllers, even attorneys and judges can't seem to do simple math and hate having to review accounting documents and seldom will....they order experts to review and explain because they can't figure it out.
The guy signing all the checks is the guy in charge, the rest of us are part of his ponzi scheme.
Adding "It's not our fault. We don't understand double entry accounting. How would we even know if we were buying our own bonds? Suggesting that this is a ponzi scheme speculates that we actually know what that means!"
All is well.
The money will come from the magic unicorn standing on top of the rainbow shitting bars of gold.
FIAT PONZI is an eye-talian convertible car with a eye-talian bimbo with enhanced mammary glands sittin' in the passenger seat.
The key's in the car.
Let's roll.
"This one is for service at FIAT"
http://www.youtube.com/watch?v=L47ULOksnAY
I can't wait what comes next from the EPIC FAILURE that is the eurozone... They have done almost everything there is to do to keep profits private and socialise the MASSIVE losses, kill democracy and plant their own unelected puppets to various governments, wipe the diarrhea out of their insolvent asses with the Lisbon treaty by bailing out countries ( ie banks) and monetizing sovereign debt, not to mention the pea shooting CDO ponzi scheme called EFSF. The list is endless. And after all these criminal actions taken by the various EU-puppets on national governments and the unelected bureaucrats in Brussels which were, according to the official propaganda, to make all things golden the eurozone is more broken and insolvent than ever. And their answer to all the old and new problems is MORE EUROPE, MORE DEBT. Uh huh... So, what's next? Tanks to deliver "democracy", stabeeletee and prospeeretee for the stupid and ignorant peasants all over Europe who can't see what the few unelected "leaders" see?
This is too sad and i have a very bad feeling this will end horribly and not just in economical point of view...
I don't see this story anywhere on CNBC.com or WSJ.com or bloomberg.com
WTF?
That was going to be my question! Do you think Bloomberg will post this news? Doubtful.
Of course the EFSF will deny they are running a ponzi. Liars and thieves won't tell you they are liars or thieves either. It would expose and uncover their criminal strategies and activities.
It's a while since your posts but I did find this on Bloomberg Businessweek..
http://www.businessweek.com/news/2011-11-13/efsf-denies-report-it-spent-100-million-euros-to-buy-own-bonds.html
Hah, the US seems all too happy that attention has shifted, for now, to the Europeans! FOR NOW!!!
To me the ponzi IS GLOBAL!!!
Cats out the bag..German can use the Deutch mark now
...with a tip o' the crown to the Limerick King:
The EFSF wants to borrow,
"We'll gladly repay you tomorrow."
The solution least worst
is bailing out first,
so Germany says, "sayonara."
see-thru, bitch
It is truly amazing how the so-called parliaments of Greece and Italy have so easily capitulated. This Super Mario will cram not just more "austerity" into Italy, but very subtle and powerful internal controls on Italian business. I like the whole - 'can't settle a non-electronic business transaction over $600.' Frightening. Considering Italy's political culture, I am stunned how easily they are rolling over.
But wait for it, even form of "austerity" waged upon the PIIGS in 2012 will be leveled upon Amerika, after it is revealed that the EFSF and the Fed are just horsetrading each others' fake bonds.
In all of this the banks have yet to suffer anything.
You have to wonder if this is all about renewing the Fed's charter in 2012.
How to make the Fed independsiable? Without the Fed, the World will explode! Nobody is talking about the Fed's charter. 13 months.
Maybe that whole Mayan Calendar and the Fed Charter are one and the same - meaning ending the Fed will bring a New Age. Lord knows Mother Earth and every Human Citizen needs a rest from global Corporate greed and the destruction of the Human Spirit.
Wow, do I sense that you don't trust the Fed? Why not??? The Fed is our friend...and they should never be doubted, audited, second guessed or controlled by the people.
Your all watching the Bilderberg plans unfold in acceleration. DHS is protecting them to complete the final wet dream under International Global Laws, not the US Constitution. After 11 years, they feel no one will challenge this drastic 2012 change. Hint.. This is not a joke!
This is some kind of recursive economics. People who can counterfeit their own money are unstoppable.
Mossberg makes a 18.1 inch barrel 12 gauge called the Marerick 88 which can be fitted with a pistol grip--add some 00 shot and you have the start of a stopper. Costs about $200.00 total. Used to be referred to as scatter guns. holds 5 little puppies. Milestones
The denial says it all. As was said up the comment chain in another form, the more things change, the more they stay the same. Debt to fix debt, a good bleeding to fix whatever ails you, what more needs to be said about the never changing circus?
It is collapse time again boys and gurls. We all hope we will not be on one of those pancaked layers, but everybody does not escape in real life.
Clearly Bullish!
We insist its completely legal!
The Eurozone has provided a period of time for the great warring colonial powers of the Atlantic to try and shift their post war socialist economies to a somewhat more capitalistic and competitive footing. Unfortunately for the Eurozone, Asia has incoporated itself into capitalist procedures faster and with more vigor than anticipated. Slave labor in Asia has been marshaled and married to technological productivity all under the umbrella of the Pax Americana. Start from a low base and move up the ladder like greased lightning. Europe now needs to sh-t or get off the pot as it were. Europe is in itself a huge store of wealth. However it is looking backward and not forward and that nostalgia is literally paralysing it. Perhaps the Pax Americana has created as many or more distortions than the fiat currency attached to it. It allowed for tremendous growth but also overconsumption, free riding, manipulation etc.
Euro UP 20 pips.
Euro UP 40 pips.
Looks like lies work.
Europe this, the Euro is dead, Euro that, the EFSF this.... blah blah on and on.
Why the fuck dont we get our own shit in order.
Report. Dispose.
Retort. Riposte.
----- YOU ARE HERE -----
Distort. Suppose.
Resort. Ohnoes.
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Here an interesting TED video, "How to Spot a Liar". It has some weaknesses, but it's good in terms of consciousness raising. Probably ineffective in spotting sociopathic liars.
http://www.youtube.com/watch?v=P_6vDLq64gE&feature=player_embedded
E.F.S.F? Who thought up that name? Impossible to say in any european language I would suggest.
Can we just call it the Eff-Seff, that might give it a bit more credibility.
Why are we living in a joke era, (remember the 'End of History', they promised us a beautiful future).
Now, who is going to finally wake up and tell the 1% that they are going to have to pay up and balance the books.
I am no expert analyst, with charts and all, but this I know for sure that that hyperinflation we will have now will be much severe than 1930s. In 1930s the printing technology was not so advanced.
stocks are gonna love this!
i did some snooping and $50 million went into the slewie family charitible trust for BiCheZ!
Earlier in the week they play make pretend, that someone wanted some italian doo doo paper. Now this? Whats funny is that they are actually causing a loss of confidence. How long can these markets be propped up with the curtain totally pulled back on this farce. Seems we could be near to where the last few people just pull their funds.
You can't trade these markets. I threw in the towel moths ago. I remain in cash to transact and save monthly in gold and silver. You can do nothing else with the global clown brigade in charge. Really a sad state we find ourselves in.
I would be unsurprised to hear/read that the Fed was/is a buyer.
Haha, what a mess, this is awesome!
Since the shit has started hitting the fan big time I've stopped going to the movies. All forms of paid entertainment are no match for these euro-clowns!
European Fraudster Scum Fund
" in the past, i've seen the sun rise in the east, and the sun set in the west - as too, i have seen ponzi's come-n-go - but never has morrow brought such ancient galleries into paradoxical gyration'l binary events - whereas mine's eye has mysteriously locked-in both time, and spacial surrealism of a chance cyclical foretold inquiry - 'where the sun`sets unambiguous on the sun's`rising' - whilst thou eye's grasp hopelessly at still shadows, the futility of all infantile rationale - as so it was then at the dawning of pyramids breaking the skylines majesty in times still frozen - the folly of man to think he can outsmart one's own destiny on the backs of bloodless mortals"
just musing about
thanks tyler
Quick send in mustache boy to show some gold bar serial numbers or find jimmy hoffa's tomb or something.
The European Full Scale Fraud is just another manipulation to steal the wealth of nations. It is time for a rebellion, a real rebellion where we take the fight to banksters by dumping their paper currencies and going to gold and silver (among other more direct actions).
If we don't fight back now, we'll end up as slaves to the corporate banking system.
Read:
http://www.amazon.com/Simple-Wealth-Mr-Andrew-Costello/dp/1463523017/ref
How many times has TD said that when the denials begin, we have finally uncovered the truth>