Farage On The Spanish Bailout: "A Reinforcement Of Failure"

Tyler Durden's picture

While the short-term benefits can be weighed against any long-term solution a number of ways, Nigel Farage provides not just the most colorful summation of situation but also the most succinct when he refers to the 'madness' of 'intervention to keep the Euro alive' as "reinforcement of failure". The better, and braver, in his opinion, thing to do, is to recognize that those Mediterranean countries should never have joined the Euro in the first place. As we have stated again and again, by kicking-the-can once again to prop up the euro-zone with bailout-after-bailout, all we are doing is prolonging the misery. The discussion on Sky News digs into the collateral-damage 'strawman' - which will happen anyway - and then 'Red' Ken Livingstone (an infamously socialist-leaning British politician who advocated for Britain's joining the Euro when it was formed) now somewhat notably agrees with Nigel that "locking Europe into a decade of permanent economic malaise" adding that once the smaller countries were added to the core, "it was doomed to fail". The two 'odd fellows' continue on to discuss the analogy of the USA to a United States of Europe noting that it took a civil war and a century before a common monetary and fiscal policy was accepted, adding simply that Europe's "nations will not give up their sovereignty".

 

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John Law Lives's picture

How many good jobs will be created by the bailout of Spain?  Any?  This bailout is a reinforcement of failure, and another bailout will be required soon enough.

100% FUBAR.

 

Western's picture

Nigel is the most honest and sane politician in Europe right meow.

Careless Whisper's picture

I think Mike Tyson's famous quote sums things up pretty good (EU to Spain); "I'll fuck you til you love me, faggot."

http://www.youtube.com/watch?v=hx66LWV-CCk 

 

 

 

Colombian Gringo's picture

Yep, looks like Spain will be doing the down low for the Euro banksters.  Better , perhaps than getting it Greek style.

Tom Green Swedish's picture

This is the funniest thing I have ever seen. I like how that old white-ass "faggot" honk tries to calm him down at the end.

YuropeanImbecille's picture

Yes it is very refreshing to see Farage after those nasty and slimey bastards Brown, Blair and Cameron.

 

But sadly the "Farages" of Europe are a minority, as everywhere else in the world our politicians (on an EU level) are in it ONLY for themselves. They learn 8-10 soundbite phrases that they repeat troughout their careers and never do any real work.

In Sweden about a third of all highly paid politicians bother to show up to vote for different proposals, and in Germany they all come from the same insane narcissistic-satanic-zionist sect.

The problem is that WE the people allow this fucking farce to continue, ALL EU politicians should be sent to the fucking nuremberg trials and be hung.

Freddie's picture

I almost fell off my chair hearing Red Ken agreeing with Nigel!   Geert Wilders and the First Finn party in Finland are also very good.  Pim Fortyun in Holland was pretty good until they left killed him.

the tower's picture

Pim Fortyun was killed by the secret service. He split the country in two and would have caused a civil war in Europe, eventually. I knew him personally. He was one sick motherfucker.

magpie's picture

Never a happy end for the People's tribune. Either JFKed or a Cola di Rienzi exit.

TWSceptic's picture

Don't lie and abuse his death for your own arguments.

the tower's picture

Lie? About what? Do you really believe he was killed by an animal rights activist? Seriously?

IF he would have been killed by a Muslim it would have set Europe on fire. 

And yes, I knew him personally.

Mitzibitzi's picture

I agree. When Nige and Ken are on the same page, coming as they do from about as far apart on the political spectrum as it's possible to be and not be locked up for their own protection, it's a sign that the bunch of public (private!) schoolboys currently in charge across most of the Western world need to fuck off back to their mansions and leave the running of the various countries to those who might actually have a clue what they're doing. Run by the elite for the benefit of the elite (at the expense of everybody else!) has had it's day. If they don't start to realise that in the very near future, there is going to be blood on the streets before long.

I mean, for fuck's sake, these assholes are already stupidly rich, so it's not like they're gonna have to lower their standards of living. Time to take the profits of plunder and let the rest of us fix all the things that are broken. But they won't willingly do that because there's also that whole 'power' thing. Not something your average rent-seeking sociopath ever gives up lightly!

Ayn NY's picture

Just in Europe? I'd be happy if he were here in the US.

d_taco's picture

Yes he is great. I saw him at Max Keiser explaining that UK Banker deserve their huge payouts. And I agree with Nigel Bankers deserve huge reward for their great work. Like Nigel I love UK bankers.

For the UK do not tell anybody, it is a matter of time before the financial marked realize that the UK is in a terrible economic shape. And in such a situation there is one rule, who sell first his gilts and pound get the best price.

Newsboy's picture

Hmm, Spain isn't "bailed out" yet. They have declared an intention to accept an undisclosed amount of bailout, some time after the Greek election. It's still a head-fake, as far as I can tell.

Al Gorerhythm's picture

Extend and pretend. Most of socialist Spain supports this. The refusal to take your lumps is a human denial trait, so, spend other people's money.

Michael's picture

When it does happen it will be even bigger.

I'm counting on it. So shut up and make it happen.

The market will be taken advantage of in whatever state it is in. Quote me on it.

macholatte's picture

 

 

Europe's "nations will not give up their sovereignty".

 

Oh yes they will.

BlueCollaredOne's picture

Exactly.

Considering that they have put their economic prosperity in the hands of Draghi, a Goldman Sachs alum as well as Monti who hails from the same shithole I'd say that they have been compromised already. You know, the same Goldman Sachs who told Europe that Greece was fit to join you guys... The same guys who lie to their clients so they can short them...

Goldman Sachs will go down as one of the single most sociopathic entities in history, provided good prevails.

nearvana's picture

yes, they probably will if they get scared enough by a carefully emulated crysis

still, there is always a danger things can get out of control ... but with that brainwashed tv i-shit citizens they probably won't

Peter K's picture

..until the money runs out. And they they woun't.

Element's picture

The thing that stood out in this is where the former mayor is saying that Germany kept it's manufacturing industry and upgraded it, retooled it, etc, i.e. as though the Govt did this, and not private industrial planning and investment.

Wrong Mr centralist financialist mayor.

The PRIVATE SECTOR built-up and renovated, and also paid for Germany's industrial strength and economic resilience. The German Govt didn't make the BMW S1000RRs, it just taxed the crap out of those who did make them.

Al Gorerhythm's picture

As well as taxed the crap out of the buyer and probably the seller. Then it claims payroll tax just to make sure that the salesman gets mugged too.

Mitzibitzi's picture

In most countries where someone can afford a Beemer, there's usually road tax (disguised under a variety of names to distract the motorist from the simple fact that he's being charged an additional annual fee for the privilege of driving a car he just paid a shitload of tax on when he bought it). Then you have tax on the fuel you put in it. VAT (again, often disguised under another name) on replacement tyres and most other parts. Even (and this one is my pet hate!) quite often VAT on the mandatory insurance you must have if you want to drive the bloody thing - a fucking TAX on a financial product that has no value whatsoever if you're a good driver and never have a fucking accident! Where's the value being added, there???

Shizzmoney's picture

The EU nations already did when they signed into the EuroZone.

tobus's picture

The "northern core" amounts to Germany, Austria, The Netherlands and maybe a few of the baltics.

Last time someone tried to expand their influence in Europe beyond that small group, 25 million men shot each other in a war.

Just saying.

Sandmann's picture

Really ? Italy was I take it NEUTRAL like the USA then ?  Did Italy even try to invade Greece, Abysinnia, or North Africa ? Do some history. It wasn;t "Expanding influence" but fear of Russian attack - go look at Russian economic growth pre-1914 and at Stalin's military build up throughout the 1930s - it was after all Hitler who STOPPED military cooperation with the USSR and Stalin who invaded Poland and took 52% Polish territory (keeping most of it with FDR and Churchill blessing him) and Stalin seized Romanian oilfields

tobus's picture

I wasn't trying to assign blame, it was more of a general statement that when people (on whatever side) fail to show a respect for either national borders or for the will of the people within those borders, instability follows. So the germans/netherlands/austria might form a stable group, so let them do that, the other countries politicians should not have manipulated their people into a union which they are not naturally amenable to.

I think we're broadly arguing on the same side here, although as I understood it, the molotov ribbentrop pact was a cooperation between both sides to trample the borders which are being trampled all over again.

Fear of attack is the same reason we went to war in Iraq, it's really not a good reason to go to war. When an actual attack happens, fair enough, but to allow "fear of attack" to be a reason to attack is to invite paranoia and false allegations eg. 45 minutes to an Iraqi nuclear weapon.

Lebensphilosoph's picture

Fear of attack is the same reason we went to war in Iraq ...

 

Rubbish.

Mitzibitzi's picture

Indeed. Even ignoring the oft-reported facts that there was a long term plan to invade Iraq, Libya, Yemen, Iran, Syria, et al... the only fears motivating that decision were fear of not getting re-elected and fear of having to tell J6P that he could not, in fact, continue to drive his 15mpg V8 SUV, as fuel prices would have to rise to levels more similar to the rest of the world if more cheap (paid for with increasingly worthless paper currency that was being grudgingly accepted with ever more reluctance) oil couldn't be procured. Even the reserve-currency petrodollar setup, with it's strategically well-hidden effect of covertly imposing a tax on every drop of oil everyone NOT in the USA pumps into their tank, was struggling to keep American access to oil affordable. That's why we invaded Iraq!

HaroldWang's picture

What it did was avert a meltdown. Same as TARP here. US was heading toward a nightmare world blow up and TARP, whether right or wrong, saved it. Same thing here. Banks, as they did here, will get stronger with the ever looming "we'll save you no matter what" as a security blanket.

The question is and an easy one, "how to profit"? Easy answer: buy any US equities with high beta and make a ton of money before the next "crisis" rears its ugly head.

BlueCollaredOne's picture

No, what it did was kick the can. This will not solve any of Spain's problems. They will still run a deficit. Youth unemployment will not go down. This will only bail out the banks who are facing leverage issues because of the housing crisis.

Banks got stronger here? Lol, banks continue to go out of business only to be bought up by TBTF banks. That's not fixing a problem, that's simply consolidating it. US banks are still far from healthy. MS will be the next Lehman. BoA had to be bailed out by Buffetts crony capitalist self. Foreclosures have been halted in the US because banks feel its cheaper to let the non paying tenant to live there instead of kicking them out.

The "we'll save you no matter what' meme will only last so long. Fiat money is built on confidence between the issuer and the holder. When the holder of said currency no longer has faith in the issuer it collapses.

I won't pretend to know how to make money off this. I don't gamble unless it's an underground blackjack game where I can count cards. The markets are rigged.

Fuck off.

HaroldWang's picture

wow - a reaction like that makes one think someone got caught really short in a doomsday trade. 

sorry about that but i doubted tarp at the time but it saved the world from meltdown. same thing here on a much smaller scale.  take the easy money pal. cover your short and follow the computer                                                         . 

Max Fischer's picture

 

 

Fuck off?

Why would you tell someone to fuck off for voicing their honest opinion?

Banks got stronger here? Lol, banks continue to go out of business only to be bought up by TBTF banks....

If you're going to be a know-it-all asshole, you might want to make sure you've got your facts straight.  Otherwise you look like a pompous idiot. The TBTF banks haven't taken the deposits of a single failed bank in several years.  ALL of the failed local banks listed by the FDIC have been merged with other local or regional banks.  Here's proof:

http://www.fdic.gov/bank/historical/bank/index.html

The rest of your post is garbage except for the part about confidence and fiat money.  It's hard to get that wrong, considering its been mentioned at ZH ten thousand times. All you've done is get a bunch of shit wrong, tell everyone the sky is blue and act like a pompous jerk in the process. 

It's always the libertarians who have such an issue with free speech and the right to express an opinion.  Weird.  

MF

Lednbrass's picture

Where does he have an issue with free speech, are you truly that retarded? (Rhetorical question in this case)

"Fuck off" doesnt prevent anyones right to express anything.

You are aware of the two year ish trolling history behind the Harry Wanger/Harry Wanqer/now Harold tags, yes? That poster is deliberately fishing for flames.

Max Fischer's picture

 

 

Been reading Sun Tzu?

If your enemy is superior, evade him.

For you, a good choice.

MF

TheFourthStooge-ing's picture

Maxine Fischer asked:

Fuck off?

Why would you tell someone to fuck off for voicing their honest opinion?

Because in some cases it's the proper thing to do.

Now please kindly fuck off. Thank you.

AnAnonymous's picture

Fuck off?

Why would you tell someone to fuck off for voicing their honest opinion?
___________________________________

Because of US citizenism?

You know, in the past, as established by Socrates, the correct way to deal with the situation was to walk away, to leave.

Now thanks to US citizenism and its humanity advancement program, you simply tell people to fuck off.

US citizenism at work. So much better.

TheFourthStooge-ing's picture

.

Because of US citizenism?

Such a startling and surprising response from you is here made.

AnAnonymous's picture

You know, it is hard to surprise anyone when US citizenism's consequences have grown so common. For all these, the same cause: US citizenism, US citizenism, US citizenism.

Recalling the prevailing western philosophical tradition before the rise of US citizenism has to be done as well, US citizens gleefully introduce themselves as guardian of the western civilization (sic)

Mitzibitzi's picture

Not often I agree with you (and I still sometimes wonder if you aren't simply a fairly good 'shill-bot' program running on some Chinese HFT computer's unused capacity), but in this case...

it is somewhat true that a small number of Americans do occasionally play on their 'world police' status to big themselves up. Not all of them, by any stretch of the imagination; and very few who post here. But it does happen.

MeelionDollerBogus's picture

WINNING

Anonymousizm vs Maxipadizenm.

You go, girl

I am Jobe's picture

Nope they can learn from the USSA. Just throw some numbers out there. They need to adopt the Propagande from the USSA.

cranky-old-geezer's picture

 

 

I agree, this is just another boring episode of bankers printing more currency, loaning it out, and making more interest income.

The whole euro idea was so bankers could make more money from more debt, the very same idea behind the Fed and FRNs. 

To bankers it's all about loaning more money and making more interest income.

Fortunately ZIRP is bringing that gravy train to a stop. 

Bankers hate ZIRP with a passion, but they know it's the lesser of two evils, allowing them to keep their ponzi scheme going a while longer. 

They know what will happen eventually, currency collapse.  It's default now or currency collapse later, and they've opted for currency collapse later.

firstdivision's picture

EUR fading a bit after that pop.  I was not expecting it to fade as much as it has tonight.  Were a lot of those long stocks short EUR?  If so, they are going to have to sell stocks to mainting their EUR short.  This could get interesting tomorrow.

q99x2's picture

'Those meditranean countries' as opposed to the center for financial fraud.

The other guest, Livingston I presume, says Britain stayed out becuase they could continue in the financial (fraud) sector instead of high tech like Germany.

Livingston also said, "US works." Say what? Where's that fk'er coming from. How much longer do you think you'll be able to say that Mr. Livingston?