This page has been archived and commenting is disabled.

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".



- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Mon, 06/11/2012 - 05:25 | 2513690 blueridgeviews
blueridgeviews's picture

I hear a lot of people talking how redicul;ous it is getting with these bailouts. We all know they are not going to work.

The point we all should be talking about is how do we get this madness to STOP!

Mon, 06/11/2012 - 05:33 | 2513695 Alejandrito
Alejandrito's picture

The Spanish bank bailout is a bailout not true.

The hole in the Spanish banking assets size is unrecoverable, you can not recover.

What we are trying to do is freeze the banking system, Japanese style.

But in Spain this solution is not possible, first because the Spanish banks' debt is external, its rate of deposits / credits is very low and in Spain there is not an export sector that can bring out a surplus in public accounts.

Also clear that Spain has no monetary sovereignty.

It is therefore a more forward kick.

Mon, 06/11/2012 - 05:46 | 2513703 TWSceptic
TWSceptic's picture


Farage was (and still is) right.


Mon, 06/11/2012 - 06:16 | 2513711 Apostate2
Apostate2's picture

Haven't read the comments but again Farage is right on the mark. What surprised me Is Red Ken. He actually made sense.

Had to edit after two Martinis

Mon, 06/11/2012 - 07:19 | 2513728 Disenchanted
Disenchanted's picture



"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"


A fail for the American people, and a win for the International banksters.

Just look at the results another century later(1913-2012).

A two century plan(1812-2012) of destruction coming to fruition.


Members of the opposition Republican Party, led by Thomas Jefferson and James Madison, disagreed with Hamilton's philosophy. They thought that chartering a Bank exceeded Congress's constitutional authority and would lead to the unhealthy dominance of a wealthy upper class exactly what Hamilton desired. The national Bank, they feared, would create a privileged group of nonproducers, people who got rich by handling paper money rather than through hard work. It might encourage corruption, as businessmen cultivated unsavory partnerships with the government. Finally, the Bank flew in the face of the founding republican ideology of the American Revolution, which led Jeffersonians to suspect powerful conspiracies against their liberties.


As president, Jefferson nevertheless allowed the Bank to run its course until Hamilton's charter expired in 1811. Following the War of 1812, a new generation of Jeffersonian Republicans, led by Congressman Henry Clay, rechartered the Bank for another twenty years. As was true in 1791, the Second Bank's charter of 1816 (3 Stat. 266) became part of a grand design for economic growth, now called the "American System." Clay's proposal, like Hamilton's, supplemented the Bank with protective tariffs that raised prices on imported goods in order to benefit native manufacturers. And it authorized federal funding for internal improvement projects such as canals and turnpikes.


In this postwar period the Bank fed an investment boom funded by paper currency, only to see it collapse abruptly in 1819. During that year the Bank called in its loans and contracted the currency, leading to widespread economic depression, joblessness, and bankruptcy. Many victims of these tough economic times among them future President Andrew Jackson blamed the Bank for their misfortunes. The resentments nursed by this "Panic of 1819" had much to do with the anti-Bank fervor of succeeding years.


Any of what I've highlighted sound familiar?



Mon, 06/11/2012 - 09:36 | 2513856 Disenchanted
Disenchanted's picture



btw the above quote came from:


That two century plan of destruction I mentioned above IMO came directly out of 'The Square Mile' and it's satellites of other Rothschild dominated European banking centers. The plan's weapon of choice is debt. Working at our foundations like termites 'The City' its satellites, agents, and frontmen have been 'eating out our sustenance' ever since.


Not only that but while doing the above they managed to sucker the majority of America into supporting the use of our young men and 'our' weapons of death technologies to in effect operate as their modern day Roman Legions on a worldwide basis. Warmongering succored by a false religion, 'Judeo-Christian tradition' 'Christian Zionism' or whatever name you'd like to use. Wrapped up in a flag of false patriotism(worship of war, militarism, and military leaders/soldiers as gods and heroes).

Now all of us are about to reap the sucker's harvest.


Enjoy bitchez.


p.s. don't think they neglected the World's center of Christianity at the Vatican, as an early 1900s version of the Jewish Encyclopedia described the Rothschilds as "the guardians of the papal treasure.." Meaning the Vatican was co-opted by controlling their money just as the U.S. has been co-opted by the control of our money. Not that the Vatican was some center of high integrity beforehand.


related: The Trinity of Global Empire

Mon, 06/11/2012 - 07:31 | 2513814 f16hoser
f16hoser's picture

"A Reinforcement Of Failure (Insanity)"

Insanity certainly fit's this situation too.

Do NOT follow this link or you will be banned from the site!