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The European Bailout-And-Borrow Train Has Run Out Of Track

Tyler Durden's picture





 

The first instinct of any card-carrying Eurocrat is to reach for his wallet, or as clear-thinking MEP Daniel Hannan points out, someone else's wallet. His prophetic words with regard the bailout-and-borrow bandwagon, that Europe remains on, running out of track are so critical that they bear repeating as he remains incredulous that his fellow MEPs still see the one solution to a debt crisis as yet more debt...

 


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Fri, 03/09/2012 - 18:29 | Link to Comment bank guy in Brussels
bank guy in Brussels's picture

We are close to the end of Merkelism and this German EU-supervision nonsense. The revolt is already underway; Ambrose Evans-Pritchard in the UK Telegraph is describing it pretty well.

We are past 'Peak EU' which was perhaps 2010 or so. With the Spanish revolt and others about to join, including likely France after Hollande wins the upcoming election, Merkelism will soon be finished.

They have temporarily pushed this thing onto the Greeks because the Greeks feel vulnerable in that far corner, so close to all the sh*t going on in the Middle East and Asia.

But it won't work in Western Europe, where the people-in-the-street revolutionary spirit will back rebellious governments. The anti-EU sentiment is building here in the Low Countries too.

The EU will become more as Nigel Farage and Daniel Hannan see it - a trade etc. association, not a violation-of-sovereignty machine.

Fri, 03/09/2012 - 18:52 | Link to Comment Rip van Wrinkle
Rip van Wrinkle's picture

You jest, of course. The vast majority are completely and utterly unaware of what is about to be done to them. They simply don't care. They're stupid. They've been brainwashed. Western Europe is no different from the US.

 

Fri, 03/09/2012 - 19:09 | Link to Comment DavidPierre
DavidPierre's picture

 

 

The world is saved!

Greece is bailed out!

At least for today.

Everyone is so busy running on the gerbel treadmill just to stay afloat that they miss what is most important.

Maybe this is the problem... everyone is so broke, they can't even pay attention.

But the market is already discounting the new bonds that will be issued. Lo and behold! We see an inverted yield curve and interest rates over 20%. So before the ink has even hit the paper, the marketplace is making odds on a second default? This shouldn't really be a shock. We have already seen this with General Motors, AIG, Citi, Bank of America etc. but no one is paying attention.

News has come out of rumblings amongst the German people and Swiss to audit their Gold holdings held both at home and abroad. This thought process should not be a shocker. Certainly logical ... given the global fraud now consistently taken for granted.

Much of their Gold is held at the NY Federal Reserve. It will be interesting to see what an audit produces if/when one is even done. It will also be interesting if/when this sentiment begins to spread to other nations.

We are now 15+ years into a gold supply deficit that has averaged 1,500 tonnes/year. Physical supply 2,500 tonnes/year ... and not growing even with current prices ... while demand has been 4,000 tonnes/year and growing. These demand numbers are probably underestimated as giant Chinese demand is barely accounted for and even surprised the bean counting clerks at GFMS and the World Gold Council.

This supply deficit has now been going on for quite some time. Just do the math!

1,500 tonnes/ year for 15 years equals how much? 22,500 tonnes. The central banks are purported to hold how many tonnes collectively? 32,000 tonnes?

Ask the logical question! Where does this supply deficit come from?

From scrap? Ever wonder how much scrap can be delivered by giddy housewives selling their Gold at their local mall's 'Cash for Gold' rip-offs?

The supply deficit has lasted quite some time. Frank Veneroso's numbers, from early last decade show that we must be somewhere close to the bottom of the gold barrel.

"Quite some time" it has been hasn't it ...don't forget! The CFTC is conducting a vigorous audit of the Silver market ... for 4 fucking long years! 

Some perspective.  Any branch manager for a retail broker is subject to a surprise audit at any time and naturally an annual audit. Everything is looked at; every transaction, every check into and out of the office, communications, advertising etc., everything. There is a paper trail for anything and everything that is done today.

There cannot ever be a situation where money just evaporates like happened at MF Global. It was stolen.

Every single trade on every single exchange for over the last 20 years can be accounted for today. If a regulator wants to see all the trades, for say IBM, that occured on a day 12 years ago ... no problem. You want to see all of the soybean trades from a couple months ago? No problem!

You want to see all of the trades, who did them, in what size, over what time frame, were they limit orders, market orders or whatever? No problem whatsoever! Unless you are talking about MF Global...or...er...umm the Silver market.

The CFTC investigating Silver ... a fucking joke.

All they need to do is go back and pull all the trades from any day ... or consecutive days where waterfall action took place. Who were the big sellers, did they try to maximize their sale price or did they dump millions of paper ounces as sloppily as they could? After you do this, look for another waterfall day ... plentiful as you know. Do the investigative process again. Are the sellers the same? Pick a third day and so on. Easy as pie! But no, we are going on 4 fucking years and what do we have?

Nothing.

The silence is deafening. At least they hope!

www.lemetropolecafe.com

Sat, 03/10/2012 - 18:12 | Link to Comment BigJim
BigJim's picture

Black Eagle Trust?

Fri, 03/09/2012 - 19:00 | Link to Comment americanspirit
americanspirit's picture

Hi Rip VW - I think you'll find that Bank Guy in Brussels is right about Europeans taking to the streets and backing rebel leaders. Western Europe is not the US - they have been through multiple wars in living memory that destroyed their economies and societies, they have seen what dictators can do, and they have had plenty of experience with bringing down bad governments. Western Europeans are completely different from Americans - and from each other too, of course. I have great faith in the ability of Europeans to take back control of their destiny - unlike Americans who are, by and large, brainwashed sheep. Oh and something else - unlike American police and soldiers, European police and military are generally reluctant to shoot citizens who are protesting because they know if they do that the mob will attack and overwhelm them. In the US a few rounds of tear gas and everyone runs boo-hooing off to their mommy.

Fri, 03/09/2012 - 20:33 | Link to Comment moneyline
moneyline's picture

You underestimate American's taste for violence. The people at the Occupy movements are yuphippies. If things get as bad here in the States as they are in Gypsyland we would have a civil war on our hands that would make the Greece riots look like a game of dodgeball. Of course our military and police would come down hard on the perps, but there will be blood.

Sat, 03/10/2012 - 01:48 | Link to Comment eatthebanksters
eatthebanksters's picture

If social unrest breaks out in the US and gets to the point where it spreads across the country with violence in major cities, the police and the military will pull back until the worst of the fighting is over and things simmer down.  That is the official plan and don't ask me how I know.  They (police and military) understand that in a confrontation which spreads nationally that they are overwhelmingly out manned and out gunned, even with superior firepower.  Just remember what they did during the Rodney King riots in LA...redux, just on a larger scale.  If you live in the cities, either be ready to get out in a hurry or have a group you can huddle with that has food and firepower.

Sat, 03/10/2012 - 03:52 | Link to Comment Transformer
Transformer's picture

Yes, and I do hope this thing with the guns can be worked out peacefully.  I think if the president was to nationally announce the clear need to retrieve all the guns, in a openly stated message that underlines our need for peace and non violence, that Americans would go along with it, willingly.  After all we do not need violence and killing.  Civil war is not the answer.  It's obvious that the politicos have gotten slightly out of hand with some of the bills being passed lately, but our most cherished institution, free and open elections will set that all straight in Novermber.  The democratic process has worked admirably in the past and will keep this country strong and free for many years to come.

Sat, 03/10/2012 - 06:47 | Link to Comment Nussi34
Nussi34's picture

So Eurobonds are such a smart idea (=pooling of debt) why don´t we try pooling of means of production? That must worl well too! OOps some have already tried this before!

Sat, 03/10/2012 - 08:18 | Link to Comment ilion
ilion's picture

I guess it's all really bullish. Gonna buy stocks with all my money I have left once the markets open on Monday. I'm being ironic.

Sat, 03/10/2012 - 16:23 | Link to Comment jwoop66
jwoop66's picture

You either don't have a /sarc key or you don't own any guns.

 

 

"from my cold dead hands!"

Sat, 03/10/2012 - 18:14 | Link to Comment BigJim
BigJim's picture

Hmmm. Is this a new MDB?

Sat, 03/10/2012 - 02:14 | Link to Comment LowProfile
LowProfile's picture

 

Of course our military and police would come down hard on the perps

Maybe at first.  But if the perps are their friends and family?  I'll take the under on that, thank you very much.

Sat, 03/10/2012 - 12:11 | Link to Comment LawsofPhysics
LawsofPhysics's picture

There you go.  America still has a volunteer military force.  One that is very much awake and standing behind Ron Paul.  They will let the weekend warrior riot police rush in first, but should friends and family get caught in the cross fire, no fucking doubt precisely who the members of the military will fire upon.

 

Sat, 03/10/2012 - 18:18 | Link to Comment BigJim
BigJim's picture

The US military will do what soldiers almost always do - obey orders.

I wish it were otherwise, but I very much doubt US soldiers are any more moral than any others throughout history.

By definition, if you join an army that has fought a score of wars in the last 60 years, none of them defensive, you aren't particularly worried about murdering people... if your officers tell you they're really, really bad people and need to die for the collective.

Sat, 03/10/2012 - 03:12 | Link to Comment FlyoverCountryS...
FlyoverCountrySchmuck's picture

Occutards are puzzues...

Outside of the very few hard-core University Marxists, the Mentally ill, and the homeless, it's a bunch of useful idiot kids who think it's "Cool!", because MSNBC told them it was.

When they realized they might actually have to LIVE like this, and daddy cut off the allowance and credit cards, the occutards disappeared as fast as they showed up. I saw several of these demonstrations in person, and I never laughed so hard as I did at the obviously college-kid idiot at "Occupy Fremont Street, with the "DOWN WITH CAPITALISM!" sign, wearing a Diesel shirt, designer jeans, and nikes, posting pics of himself in the demo on his iPhone.

Talk about somebody that doesn't get it!

 

Fri, 03/09/2012 - 21:12 | Link to Comment moonman
moonman's picture

Don't ever underestimate the will of the American citizens. Plus we are armed to the teeth

Sat, 03/10/2012 - 16:32 | Link to Comment jwoop66
jwoop66's picture

At what point of European history are you referring?   Plenty of revolutions, sure, but when have they ever been replaced with something better? They are all Socialists, and going broke!  You ever read any articles on ZH about Europe?   The continent has been populated since the dawn of civilization and yet today does not have a govt as old as the US.

In the US so far, whenever teargas is used it is against OWS types and rioting racial groups.  Yeah, they scatter.  When Joe Sixpack gets gassed there will be hell to pay. 

Fri, 03/09/2012 - 19:49 | Link to Comment RSDallas
RSDallas's picture

I tend to agree with you RIP.  I keep telling myself that this new digital age is going to be the catalyst that educates the millions of people who lack the knowledge of how we have and are being screwed.  My only fear is that the youth of America say ages 16-30 have been seriously misled to the point that they believe they truly believe that the Government is in fact the only solution to even their basic needs.

Fri, 03/09/2012 - 18:56 | Link to Comment MillionDollarBonus_
MillionDollarBonus_'s picture

I have seen many libertarians naively criticise and disparage the idea of "bailing out" large financial institutions. This is very devious, as on the surface it appears to make sense to many well meaning Americans. However, with a little more thought it is perfectly obvious that tax payers actually benefit from this transfer. To quote Hank Paulson (former US treasury secretary):

"As first responders to an unprecedented crisis that threatened the destruction of the modern financial system, we had little choice but to bail out the banks" 

It is an inconvenient truth to libertarians, doomers and other crackpots that modern interventions (or bailouts) are in fact a necessary and powerful economic tool for maintaining a healthy and stable economy.

 

Fri, 03/09/2012 - 19:21 | Link to Comment MsCreant
MsCreant's picture

You must laugh your ass off writing this shit! To tears. Aneurysm even.  

Fri, 03/09/2012 - 23:11 | Link to Comment CompassionateFascist
CompassionateFascist's picture

U have to admit it's beautifully done. Even tho U know its just provocation, U cannot resist hitting that red arrow. There are mock turtles, and mock trolls.

Sat, 03/10/2012 - 00:54 | Link to Comment mkhs
mkhs's picture

Yeah, Pavlov's dog  and Pavlov's monkeys with keyboards.  Every time he posts, you can't help yourself.  He controls the thread for the next 100 comments thanks to Pavlov's monkeys with keyboards.

 

 

Sat, 03/10/2012 - 02:35 | Link to Comment MsCreant
MsCreant's picture

Lighten up. I figure those who answer or hit a down arrow are working through stuff. That is what this site is for. Tyler could be doing it for all we know, grist for the mill.

Sat, 03/10/2012 - 03:34 | Link to Comment mkhs
mkhs's picture

It just saddens me to see so many free thinkers diverted and manipulated by this Pavlovian trick.  ZH's equivalent of Dancing with the stars.  Carry on, then.

Sat, 03/10/2012 - 13:33 | Link to Comment Nobody For President
Nobody For President's picture

I have had that thought as well - it's a Tyler spicing things up - but lately it has become a bit too heavy-handed. The earlier posts were really good; right on the edge of 'is he for real?' But lately he has started putting it on a bit too thick - but still good enough to hook new newbies (I'm getting on to being an old newbie.)

Still could be a Tyler though. Needs to dial it down just a tad...

Sat, 03/10/2012 - 16:08 | Link to Comment mkhs
mkhs's picture

I prefer to believe it is not Tyler.  What would be the point in posting the articles and then confusing, distracting, and diverting the conversation?  It is more in line with disinformation and spam: hiding anything of value in an avalanche of partisan rebuttal. 

Sat, 03/10/2012 - 18:06 | Link to Comment MsCreant
MsCreant's picture

And of course, if it is a standard troll, we just dished up some good grub with the speculation. 

I think the troll puts good thought into trying to reconstruct what, possibly, could be a pro system stance. It comes close to hanging together as an coherent logic system, but not quite.

Sat, 03/10/2012 - 02:36 | Link to Comment MsCreant
MsCreant's picture

Agree. 

Fri, 03/09/2012 - 19:48 | Link to Comment Stackers
Stackers's picture

No what it is an inconvienent truth to libertarians, doomers and other crackpots that modern interventions are in fact a necessary and powerful economic tool for maintaining a SICK FRAUD OF A FINANCIALIZED ECONOMY BUILT ON NOTHING BUT PAPER DREAMS AND FANASTIES BEING PASSED AROUND AS WEALTH AND PRODUCTIVITY.

 

Fixed that for you

Fri, 03/09/2012 - 19:53 | Link to Comment imaginalis
imaginalis's picture

I would love to cook you and Joann Smith a nice half pound pink slime burger medium well

Fri, 03/09/2012 - 19:56 | Link to Comment Reese Bobby
Reese Bobby's picture

Exactly.  All my charitable giving goes to JP Morgan.

Fri, 03/09/2012 - 19:58 | Link to Comment cosmictrainwreck
cosmictrainwreck's picture

"...libertarians, doomers and other crackpots..." LMAO.... guilty as charged, ass-wipe

Fri, 03/09/2012 - 20:04 | Link to Comment GernB
GernB's picture

Your assertion would seem to be that it is impossible for any scheme whatsoever to protect someone un-involved in doing business with a bank from the actions of that bank and the people it does business with. Or to protect the people without protecting the banks. I'm sorry, but that's just crazy. The inconvient truth is there's a "one world" crowd who doesn't want people to be protected from each other because it weakens the case for larger and more powerful governments and institutions. They are not looking to protect anyone, they want people to be dependent.

They see regulations designed to protect people from irresponsible bank lending as a threat to "affordable housing" initiatives and their ability to bribe taxpayers with promises of an "ownership society" where everyone can own a house. So they take down every regulation, law and barrier that stands in their way until they';ve built a system where massive numbers of bad home loans are being bundled into derivatives and funneled into wall street as if they were triple 'A' rated investments. Those people who saw it comming and warned of it years before were called crackpots and doomsayers just as you are doing now. Then when this government created nightmare all falls appart, the creators of the mess tell us "there was nothing we could do." And have the gall to blame their corruption, incompetence and interference in housing markets on "wall street greed."

They are actively seeking to tear down protections because the allow people to stand on their own feet. It's the only way they can solidify their power and sell the idea that it's not possible to protect one person from another.

Sat, 03/10/2012 - 01:54 | Link to Comment eatthebanksters
eatthebanksters's picture

There is actually some wisdom in your words...what you left out was the part where the systemically (sp?) dangerous institutions need to be broken up (damn the lack of competitiveness on the world stage) and where the crooks that got us into this mess need to face justice in front of a jury of their peers.  Only then will financial security and stability return. While the game is rigged only fools and indentured servants will participate.  My guess is when the shit hits the fan, you'll be one of the assholes getting stomped by your ungrateful and ignorant minions.

Sat, 03/10/2012 - 02:38 | Link to Comment CvlDobd
CvlDobd's picture

You need a vacation bro. I used to upvote you all the time because I thought your shit was hilarious. It hasn't grown stale but thin. You need to regroup and come back with the SUPER THICK sarcasm that got the dumbass members here all hot and bothered.

 

Those were the good old days.

Sat, 03/10/2012 - 07:15 | Link to Comment MolotovCockhead
MolotovCockhead's picture

You must be more ignorant than a retarded toad to quote Hank Paulson to convince ZH readers! The same crook who gave himself a waiver from the ethics agreement on the Goldman Sachs shares deal and pocketed $200 million without paying any tax for it.

Fri, 03/16/2012 - 14:25 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

can you inconveniently supply the benefit, quantified in dollars earned, or quantified in jobs, or quantified in savings for the tax-payers?

Taxes didn't go down, costs of living didn't go down, debt did go up, savings did go down, jobs did go down, so where is this benefit?

There is no promise of return of the money much less promise of a gain. There is no consent so the reduction up-front to tax-payers is theft. There's no legal obligation to get a profitable return from the bailout. There's no way to collect on those companies when they go bankrupt.

So just what kind of troll-job do you think you're pulling here? At least try to think through the details if you want to be a pro-troll instead of a noob-troll, mini-B.

So far that I can see the modern financial system gives no benefit even at top-capacity of operations to all the tax-payers and it's certainly operating in WORSE conditions, costing more than normal, returning less than normal, and "normal" returns were a loss due to hidden fees & loan frauds.

Just what kind of game are you playing at?

Fri, 03/09/2012 - 19:27 | Link to Comment q99x2
q99x2's picture

How's bout going after the few top families that have terrorised the world and stolen its money and save yourself the trouble of a revolution this time.

Anyhow you're going to be gettin a dose of drone soon to put a little peace in your protests. That should keep you quiet if you do decide to go the wrong route.

Sat, 03/10/2012 - 02:22 | Link to Comment LowProfile
LowProfile's picture

 

Anyhow you're going to be gettin a dose of drone soon

What frequency does that broadcast on, again?

Sat, 03/10/2012 - 02:31 | Link to Comment MsCreant
MsCreant's picture

NBC, ABC, CBS, CNN, ...

Fri, 03/09/2012 - 19:45 | Link to Comment Stackers
Stackers's picture

And "eurocrats" will go down kicking and screaming and pull every punch in the bag to keep that from happening. The Euro project as a whole is and was always just a means to an end for those people. One World Democratic Solicialism. They will not give up on this dream easily. They infest the upper levels of society, government and education. This is going to be a long struggle to denie them of that utopian dream.

Fri, 03/09/2012 - 22:05 | Link to Comment Gunther
Gunther's picture

Bank guy,
even in Germany the current EU gets questioned.Today there was a damning piece about the EU describing it as undemocratic and incompatible with Basic Law in Germany.
The piece was in moderately right daily “Die Welt.”
Link in German:
http://www.welt.de/welt_print/article779393/Ein_Staat_ohne_Legitimation....

Sat, 03/10/2012 - 04:02 | Link to Comment AnAnonymous
AnAnonymous's picture

The revolt is already underway; Ambrose Evans-Pritchard in the UK Telegraph is describing it pretty well.

_______________________________________

A revolt against what?

US citizen Indo-Europeans support going deeper into debt.

US citizen economics is not sustainable. US citizen economics aim at the depletion of resources.

Debt can not be repaid in a non sustainable environment.

US citizens are consuming the future, knowing the future will not show up as a reset, as a restart.

What is going on is very simple:
US citizens are maxing out the credit cards while they know their mall wont be resupplied.

Useless to think of repaying debt.

Sat, 03/10/2012 - 12:04 | Link to Comment WTFx10
WTFx10's picture

STFU

Sat, 03/10/2012 - 12:24 | Link to Comment rbg81
rbg81's picture

How about a European revolt against giving welfare benefits to hordes of Muslim immigrants who are slowly taking over their countries?  The warped notion that these people will become productive, tolerant, democracy-loving citizens should have dispelled long ago.  Of course, Political Correctness forbids the application of observation and common sense to any situation involving anyone other than White males.  Europe had better get its head out of its ass before its too late to stop the its own suicide.  Actually, it probably is too late already.

Sat, 03/10/2012 - 13:19 | Link to Comment AnAnonymous
AnAnonymous's picture

They are doing it very, very,very slowly, if they do it.

The idea of Indo Europeans revolting against the muslim populations slowly taking over is amusing.

That would be an atypical revolt indeed.

Sat, 03/10/2012 - 19:02 | Link to Comment rbg81
rbg81's picture

When I say revolt, I mean revolt against the Government elite and policies that are ensuring that Muslims will be in the majority.  Once in the majority, Europe will be theirs.  And their will be plenty of Indo-Europeans more than happy to be their bitches and collaborators.

Sat, 03/10/2012 - 16:37 | Link to Comment jwoop66
jwoop66's picture

Citizenism!

Sat, 03/10/2012 - 16:17 | Link to Comment jwoop66
jwoop66's picture

You can say "shit" here; we're all ZH'ers.

Fri, 03/09/2012 - 18:31 | Link to Comment Yellowhoard
Yellowhoard's picture

I just got my first Euroboner.

Fri, 03/09/2012 - 18:34 | Link to Comment Temporalist
Temporalist's picture

Was it a "Credit Event"?

Fri, 03/09/2012 - 21:11 | Link to Comment AbelCatalyst
AbelCatalyst's picture

If it doesn't go away in 3 hours call the ECB - they have a special procedure that will suck the life out of it

Fri, 03/09/2012 - 23:34 | Link to Comment CH1
CH1's picture

"Crank up two printing presses and call me in the morning"?

Fri, 03/09/2012 - 18:46 | Link to Comment Cheesy Bastard
Cheesy Bastard's picture

A boner does not count as personal growth.

Fri, 03/09/2012 - 18:57 | Link to Comment XitSam
XitSam's picture

But if it was rehypothecated ...

Fri, 03/09/2012 - 19:39 | Link to Comment prains
prains's picture

<golf clap>  Daniel

Fri, 03/09/2012 - 20:09 | Link to Comment Poundsand
Poundsand's picture

Soon he will crying about deflation!

Fri, 03/09/2012 - 21:31 | Link to Comment UP Forester
UP Forester's picture

And then he'll be crying about hyperinflation!

 

That's a lot of crying!

Fri, 03/09/2012 - 22:50 | Link to Comment CrashisOptimistic
CrashisOptimistic's picture

The guy in the vid said if you are an employee of the EU, you're exempt from taxes.  Tax free boner.

Fri, 03/09/2012 - 18:31 | Link to Comment ACP
ACP's picture

Employees of EU are exempt from national taxation??? No wonder they want to keep that shit-parade together!

Sat, 03/10/2012 - 11:06 | Link to Comment rufusbird
rufusbird's picture

That also helps to explain why they are always smiling...

Fri, 03/09/2012 - 18:32 | Link to Comment SHEEPFUKKER
SHEEPFUKKER's picture

When the boat starts to list to one side, you either get to the other side of the boat or you fall in and drown.  More and more people are starting to realize they would rather be on the high side. 

Fri, 03/09/2012 - 18:34 | Link to Comment Sudden Debt
Sudden Debt's picture

THIS BOAT CAN'T SINK!!!
Thomas Andrews

Fri, 03/09/2012 - 19:01 | Link to Comment Winston Churchill
Winston Churchill's picture

This ship cannot sink.

 

Captain Smith(RMS Titanic)

Fri, 03/09/2012 - 19:23 | Link to Comment Cheesy Bastard
Cheesy Bastard's picture

N Sync.

Justin Timberlake

Fri, 03/09/2012 - 21:32 | Link to Comment UP Forester
UP Forester's picture

Das Boot ist voll.

-Some lice-infested Kapitan

Fri, 03/09/2012 - 18:32 | Link to Comment Sudden Debt
Sudden Debt's picture

And when the money runs out they turn to the forests, chop them down, turn them into paper and print number on them and call them "more money"

Fri, 03/09/2012 - 18:33 | Link to Comment HD
HD's picture

"I think I can, I think I can, I think can..."

Excerpt from "The Little Global Ponzi that Could".

Fri, 03/09/2012 - 18:33 | Link to Comment SubjectivObject
SubjectivObject's picture

The guy appears to be in an empty room talking to himself.

Fri, 03/09/2012 - 18:45 | Link to Comment Sudden Debt
Sudden Debt's picture

It's not because they're payed to be there that they want to be there. It's politics.... Complicated... We're to stupid to understand this....

Fri, 03/09/2012 - 19:33 | Link to Comment Goldilocks
Goldilocks's picture

< crickets >
~//~
ty, too much great copy today!

Fri, 03/09/2012 - 18:33 | Link to Comment navy62802
navy62802's picture

The UK is pleasantly surprising me with its politicians ... first, Nigel Farage, and now, Daniel Hannon. Hopefully, common sense is starting to catch on.

Fri, 03/09/2012 - 18:55 | Link to Comment Rip van Wrinkle
Rip van Wrinkle's picture

The problem is they are hardly ever seen on UK TV or radio. And when they are, they are introduced as total lunatics, fruit bats that hang upside down from the rafters and only come out at night. Right wing nuts, extremists are just two phrases commonly used.

 

And the rest of the populace. On the whole, moronic is as good as I can get.

Fri, 03/09/2012 - 19:15 | Link to Comment navy62802
navy62802's picture

It's the same in the US. I don't know why I'd expect anything different in another country. The same people hold power over there as they do here.

Fri, 03/09/2012 - 19:31 | Link to Comment reload
reload's picture

What you say is true & Farage knows it. So he is doing something NO other political party in the UK does - going on tour speaking at open public meetings up and down the country. I saw him last night near Cambridge, he does deserve a bigger audience and I think he will get one. He is on a mission to move UKIP into the minds of the electorate as much more than a single issue party. I like Hannan too, but think Cammeron only tolerates him to placate his party's euroskeptics. Most of the Tory mep's are sock puppets enjoying the gravy.

Fri, 03/09/2012 - 20:31 | Link to Comment Hedge Fund of One
Hedge Fund of One's picture

How were Farage and this cat sent to the EP from UK? Were they appointed by the UK PM?

Sat, 03/10/2012 - 02:52 | Link to Comment Sandmann
Sandmann's picture

Election by List. You vote for the Party and it chooses the Candidates

Fri, 03/09/2012 - 18:34 | Link to Comment Nothing To See Here
Nothing To See Here's picture

"The problem with socialism is that it eventually runs out of other people's money"

-Margaret Thatcher

Fri, 03/09/2012 - 19:09 | Link to Comment JohnnyBriefcase
JohnnyBriefcase's picture

She clearly didn't have an "other people's money" printing press like we do nowadays.

Fri, 03/09/2012 - 18:36 | Link to Comment It is a bargin ...
It is a bargin my friend's picture

He's no Nigel is he?

Fri, 03/09/2012 - 18:48 | Link to Comment navy62802
navy62802's picture

No, but at least he's making sense. And that's a great start. It is a rarity to hear a European politician actually speak some sense.

Fri, 03/09/2012 - 19:26 | Link to Comment Herkimer Jerkimer
Herkimer Jerkimer's picture

Somebody's not being a team player!

I see a trip to the woodshed for him!

•?•
V-V

Fri, 03/09/2012 - 18:41 | Link to Comment vato poco
vato poco's picture

I don't know what's more depressing: a) the fact that everything Hannan says here, and has been saying for years about how the EU is a hugely corrupt oligarchy that thinks nothing of routinely taking a shit on its "constituency" while pissing away their money like drunken sailors or b) the fact they don't even bother to try and shut him up. He's smart as hell, telegenic, makes *terrific* righteously outraged speeches against these evil bonehead dipshits, which *should* worry them, but.....

Nothing. They allow him his devastating commentary, roll their eyes & yawn or crank up their ipods as he speaks, and move on with their agenda as if nothing has happened. Nothing at all. Rather like US politicians and their pet media treat Ron Paul, in fact.

Gotta believe it's a bad sign when they don't even bother to try and hide their agenda, or even bother to silence their critics. At least Putin and Chavez throw their critics in jail. These guys: supreme indifference. Uh-oh.

Fri, 03/09/2012 - 19:01 | Link to Comment Kalevi
Kalevi's picture

HEEYYY, I,m a drunken sailor and I only piss away my own money.

Don't compare us to these euro commies/bankers/GS goons.

I've been following Hannan for a while, can't say he have put a foot wrong so far, wish I could say the same thing about the politicos in my own country.

Fri, 03/09/2012 - 18:58 | Link to Comment Long-John-Silver
Long-John-Silver's picture

The Mayans predicted that 2012 would be a year of apocalypse leading up to the end of the world. It's obvious it starts with the complete destruction of the worlds economy.

Fri, 03/09/2012 - 19:16 | Link to Comment Kalevi
Kalevi's picture

No they did not.

Recheck

Fri, 03/09/2012 - 21:36 | Link to Comment UP Forester
UP Forester's picture

Yeah, I thought it was the Olmec's, and it was the end of an "era"....

 

It'd be pretty kewl to see a giant serpent swallow the earth, though.

Much like a giant vampire squid slurping up all the fiat liquidity.  Do squids have knees?

Fri, 03/09/2012 - 19:11 | Link to Comment jmcadg
jmcadg's picture

It's now official MDB, you are a schill.
Your bullshit corporate rhetoric is much better suited to CNBC, Bloomberg or Fox. Take your pick, hey enjoy them all, but fuck off.

I'm all for serious debate, but getting off rubbing yourself on the leg of Jamie Dimon does nothing for me.

Fri, 03/09/2012 - 19:15 | Link to Comment OutLookingIn
OutLookingIn's picture

Well said!

Fri, 03/09/2012 - 19:53 | Link to Comment Reese Bobby
Reese Bobby's picture

Get a room.

Fri, 03/09/2012 - 20:30 | Link to Comment r00t61
r00t61's picture

MDB is just a troll, out having fun.

He succeeds only when you reply to him.

Fri, 03/09/2012 - 20:57 | Link to Comment Reese Bobby
Reese Bobby's picture

What's a schill?

Fri, 03/09/2012 - 19:11 | Link to Comment OutLookingIn
OutLookingIn's picture

The European Economic Union (EU) is a bureaucracy run by economically ignorant technocrats. Whereas it's predecessor the European Economic Community (EC) was a brilliant idea because it only dealt with the free movement of people, goods and services. Across a labrinth of borders and through a spiders web of red tape regulations.

The EU is now a political entity not an economic zone. The euro will not survive. The EU was doomed from day one when it's focus changed from an economic one and became a political entity.  

Fri, 03/09/2012 - 19:51 | Link to Comment reload
reload's picture

I hope you are right. But as the EU. Commission is now the supreme law maker across the Eurozone it will be IMPOSSIBLE to remove them by democratic Means. Remember they are zealots who have hoodwinked the people and nations of Europe into giving away their sovereignty. They are not going to just give it back. We will have to take it, and most people are too lobotomised by TV and celebrity 'culture' to realise that it needs doing.

Fri, 03/09/2012 - 20:02 | Link to Comment EvlTheCat
EvlTheCat's picture

Well said!

Fri, 03/09/2012 - 19:13 | Link to Comment dumpster
dumpster's picture

the mayans predicted squat.. 

they just ran out of room on the stone carving .

this idea that some quant had the ability to see so far into ther future when they had a hard time surviving the next blood thirsty ritual is taking the whole future based prophecy business into the bible thumpers of the south and their drive through religion based saved by the blood //

the bible based thought process is a loose brain dead attempt to explain the ravings of a 1000 different interpretations over the course of 2000 years..

Fri, 03/09/2012 - 19:51 | Link to Comment Reese Bobby
Reese Bobby's picture
Non sequitur much?
Fri, 03/09/2012 - 19:14 | Link to Comment ChrisFromMorningside
ChrisFromMorningside's picture

Off-topic but important. Two of the most suppressed news stories of the week, sent down the memory hole.

The partitioning of Libya has begun. This was the imperialist plan from the beginning: break off the eastern part of Libya and turn it into another petro puppet state.

http://www.reuters.com/article/2012/03/09/libya-east-autonomy-idUSL5E8E9...

This is the plan in Syria too. Just as in Libya, there are already Western military assets present within the country formenting the fake revolt to justify "intervention" and eventual partition.

http://www.bloomberg.com/news/2012-03-05/syria-detains-13-french-officer...

Fri, 03/09/2012 - 19:30 | Link to Comment vato poco
vato poco's picture

Ummmm, since when does Syria have oil? Or are The Evil Ones just gonna do their sinister partioning for practice?

Fri, 03/09/2012 - 19:49 | Link to Comment Reese Bobby
Reese Bobby's picture

"Don’t, he’s on a roll."

Fri, 03/09/2012 - 20:00 | Link to Comment reload
reload's picture

Syria has airspace which needs to be sanitised of it's Russian made air defences. Look at the map, isreal needs to overfly Syria to bomb Iran.motive enough for you?

Sat, 03/10/2012 - 17:38 | Link to Comment Dingleberry
Dingleberry's picture

Maybe you don't remember how Israel "sanitized" Syria's air defenses a couple of years back.....I don't think they are too concerned.

Fri, 03/09/2012 - 22:26 | Link to Comment ChrisFromMorningside
ChrisFromMorningside's picture

I didn't mean to imply that Syria would be partitioned for oil. I meant that Western powers are covertly inflaming regional tensions and provoking violence. The media is then spinning this Western-provoked domestic violence as a "revolution" that is being crushed, thereby justifying invasion. The methodology is the same as in Libya and bears more than a passing resemblance to the methodology employed during the "Color revolutions." The end goal in Syria is not oil but rather regional geopolitical hegemony. Domination of Syria would knock out one of Iran's key allies and allow Western forces to further complete their encirclement of Iran.

 

Sat, 03/10/2012 - 02:50 | Link to Comment Sandmann
Sandmann's picture

Oxford Business Group, the oil sector accounted for 23% of government revenues, 20% of exports, and 22% of GDP in 2008. Syria exported roughly 150,000 bpd in 2008, and oil accounted for a majority of the country's export income

Fri, 03/09/2012 - 19:35 | Link to Comment bobola
bobola's picture

Nice to see this.

We need more and more of this by public figures.

Just watched several of Nigel Farage's videos.

Great stuff.

Fri, 03/09/2012 - 19:44 | Link to Comment Reese Bobby
Reese Bobby's picture

Who's the shit-grinning softy at the end of the clip?  Looks like he walked right out of One Flew Over The Cuckoo's Nest.

Fri, 03/09/2012 - 19:51 | Link to Comment Global Hunter
Global Hunter's picture

at least I can have some fun watching fascist scum politicians squirm when they're faced with the truth. Thank you Daniel.

Fri, 03/09/2012 - 19:57 | Link to Comment Cole Younger
Cole Younger's picture

Nigel Farage throws egg in Eurocrat faces   

http://www.youtube.com/watch?v=2gm9q8uabTs


 What gives you the right to dictate to the Greek and Italian people?  http://www.youtube.com/watch?v=bdob6QRLRJU  

Fri, 03/09/2012 - 20:51 | Link to Comment non_anon
non_anon's picture

all aboard, the crazy train

another brit sings it

http://www.youtube.com/watch?v=aOg_qF9GQUM

 

Fri, 03/09/2012 - 21:09 | Link to Comment Elvis is Alive
Elvis is Alive's picture

Clearly, Mr. Daniel Hannen is a terrorist.

Fri, 03/09/2012 - 21:54 | Link to Comment CEOoftheSOFA
CEOoftheSOFA's picture

Thank God for the Mid-Atlantic Ridge.

Fri, 03/09/2012 - 22:01 | Link to Comment Sizzurp
Sizzurp's picture

Hannan is right. This negative value debt money is our undoing.  Some day this truth will be self evident, but for now we have to continue to suffer these central banker fools taking us on an elevator ride straight down to hell.

Sat, 03/10/2012 - 02:54 | Link to Comment Travis Bickel
Travis Bickel's picture

 

'Who the Hell You Think You Are?' Nigel Farage Nov. 2010

 

http://www.youtube.com/watch?v=2gm9q8uabTs


 

Sat, 03/10/2012 - 03:56 | Link to Comment AnAnonymous
AnAnonymous's picture

that Europe remains on, running out of track are so critical that they bear repeating as he remains incredulous that his fellow MEPs still see the one solution to a debt crisis as yet more debt...

_____________________________________________________

Made me laugh. US citizens love to work in duo.

Dramatis personae: US citizen 1, US citizen 2

US citizen 1: We need to go deeper into debt...

US citizen2( jumping from backstage): you cant get out of debt piling on debt.

The story is simple. Going into deeper debt is only perceived through the false intent of solving the debt issue.

It is really funny. Because US citizens seldom speak about what they really do.

So here:

if you take a physical approach, seeing that US citizen economics has abridged the age of abundance is straightforward.

Repaying on debt would mean restarting on the same base. That is what you do when you pay back a debt. You reset afresh a situation.

US citizens have tried to sell the idea that their technological advances would provide a new energy transition that would reset the world, restart on the same base as the beginning of the oil age.

Less and less likely to happen. US citizen economics is not sustainable. US citizen economics strive toward depletion of resources.

Repaying debt is preposterous because the debt cant be repaid in an unsustainable environment.

US citizens are only working at getting sure that they get the most out of the age of abundance.

US citizens are maxing out the credit card before the mall gets empty, with no expectation of resupply.

That story of getting out of debt by taking more debt is just US citizen trick.

It has no ground. Repaying debt is not what US citizens aim at.

US citizens want to consume as much as they can. And taking more debt is a way to achieve it.

Sat, 03/10/2012 - 12:01 | Link to Comment WTFx10
WTFx10's picture

STFU

Fri, 03/23/2012 - 06:00 | Link to Comment Colonial Intent
Colonial Intent's picture

.

 

 

Sat, 03/10/2012 - 07:18 | Link to Comment Olympia
Olympia's picture

Global Debt Crisis

The greatest private fraud of human history.

Who are the great fraudsters who are becoming the murderers of the human kind?

How does the economy "illness" threaten Democracy and the freedom of people?

http://eamb-ydrohoos.blogspot.com/2012/01/global-debt-crisis.html

.

World War III - the first Private World in History

http://eamb-ydrohoos.blogspot.com/2012/02/world-war-iii.html

.

Authored by Panagiotis TRAIANOU

Sat, 03/10/2012 - 08:50 | Link to Comment blueridgeviews
blueridgeviews's picture

As long as there are printing presses there is plenty more track, unfortunately.

Sat, 03/10/2012 - 11:11 | Link to Comment Snakeeyes
Snakeeyes's picture

Here are some interesting Greek CDS charts to illustrate their problems!

http://confoundedinterest.wordpress.com/2012/03/10/greece-deal-triggers-...

Tue, 03/13/2012 - 19:57 | Link to Comment papaclop
papaclop's picture

The man is exactly right.  Very well said, in simple enough terms that even a politician can understand.

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