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Germany Cries: "Europe Is Coming For Our Money", Greece Promptly Obliges

Tyler Durden's picture





 

"Greece is an exception in the Euro Zone" - Angela Merkel, December 9, 2011

"Exception from ESM Seniority only applies to Spanish aid" - Angela Merkel, June 29, 2012

 

It took about a year, but finally Germany, with a little assistance from Merkel on Friday morning, has figured it out. And is now blasting it on the front pages of its various newpapers:

Translated:

Europe is coming for our money!

What else does Die Welt say:

When economic historians in a few years determine the turning point at which the euro zone turned into a debt community, they may refer to the last Thursday night. In those dramatic hours when Angela Merkel after massive pressure from Italian Prime Minister Mario Monti and Spanish Prime Minister Mariano Rajoy buckled - and agreed to an agreement whose scope is now very difficult to estimate.

Specifically, what is now painfully clear to everyone in Germany is that if indeed Merkel's declarations over the past few days are to be taken at face value, then Germay has just lost control over European supervision: a topic very near and dear to all Germans' heart, as up until this point money would be handed out only in exchange for conditionality. A move whie Welt calls a paradigm shift: "To date the Germans insisted that the €-aids come equipped with shackles. Money was always associated with reform programs that were monitored by the Troika of the EU, European Central Bank (ECB) and International Monetary Fund (IMF)." That is now no longer the case. At least according to conventional wisdom:

Precisely for this reason were countries like Portugal and Ireland long afraid to apply for assistance. Now dipping into the bailout pot will be far easier... The federal government has always stressed that any bailout will come with strict conditions. Now all has changed, partly because of pressure from the financial markets. Italy and Spain struggling with risk premiums at record levels. So far, however, they refused to implement emergency measures. That could now change. Monti has already cheered: "the Troika will never come to Rome."

Die Welt may be on to something: while in the case of the Spanish bailout, the European action opened the door for proactive demands for future assistance, what happened last week has also activated the retroactive lever, and the cries for equitable EFSF/ESM treatment (where there is no seniority for bondholders despite Citi's clear explanation the EFSF and ESM will always have implied seniority over other private sector bondholders no matter what promises politicians throw around) will now come from all the other countries bailed out by Europe. Because what kind of union is it if among the countries in distress some are more equal than others. After all, first it was only Greece who was an exception. Now it is Spain. Who will be the next exception?

But before we pretend to even answer that rhetorical question, we already know how long it took Greece to demand the same treatment as that offered to Spain: 24 hours.

From Kathimerini:

Athens to ask for EFSF deal to apply to Greece, too

 

The government is considering to ask for the European Council agreement of Thursday for banks to get direct funding from the European Financial Stability Facility (EFSF) to apply to Greece, too, even though the recapitalization of local lenders was agreed to be included in the state’s bailout agreement.

 

The issue was discussed, according to reports, during a meeting at the Prime Minister’s residence in Athens on Saturday evening, ahead of the visit of the representatives of Greece’s creditors from Monday.

And since in Europe now every beggar is empowered to be a chooser, there is no stopping how much Germany will have to pay out of pocket to keep the insolvent ones content.

Main opposition leader Alexis Tsipras urged the government on Saturday to press for local banks to benefit from the new system of direct recapitalization from the EFSF, or threaten to veto the European Union’s Treaty for Stability Co-ordination and Governance and refuse to accept the visit of the creditors’ inspectors in Athens.

Expect many more demands from Ireland and Portugal next. Also expect many more and far angrier headlines out of Germany.

All of this means, that as we calculated last July, with Germany no longer able to kick the can, Merkel will soon have to front well over 30% of its GDP and likely over 50%, just to keep the Eurozone alive. it also means that, as we said last July, spreads of core European bonds will soar in a great compression trade where the PIIGS become the core and vice versa, an outcome that will anger Germany even more as it bring the implied outcome of Eurobonds without Eurobonds ever having been activated.

There is however a catch: earlier today we speculated that Merkel's move was merely one that puts the Constitutional Court, and thus a broad referendum, in action. Already numerous parties are demanding that the highest court scrap the ESM as it is both undemocratic and unconstituional.

From Deutsche Welle:

The European Stability Mechanism (ESM) and the Fiscal Pact have been approved by the German parliament. But thousands of Germans have joined forces to take legal action against these measures.

 

The Euro Stability Mechanism's capital stock of 700 billion euros is intended to provide a buffer against the convulsions of the euro debt crisis. The 17 signatory states will each pay a proportional amount into the ESM - irrevocably and without restrictions - or set the money aside to be handed over, if required.

 

The signatory states came to an agreement on the ESM because, as is stated in the treaty, they are "committed to ensuring the financial stability of the euro area".

 

But opponents say that this should not be done at any cost, and using any means available. Dissenters are calling for more democracy, and there are a lot of them. More than 12,000 German citizens have joined "Mehr Demokratie" ["More Democracy"], the "Alliance for Constitutional Objections to the ESM and the Fiscal Pact".

 

They plan to file suits with the German Constitutional Court in Karlsruhe against the instruments being deployed to save the euro. Christoph Degenhart, a Leipzig-based expert on constitutional law, and Herta Däubler-Gmelin, a former federal justice minister, are spearheading the alliance, which also includes some of Germany's smaller political parties.

 

Another prominent critic is Peter Gauweiler, a parliamentary representative of the conservative Christian Social Union who has experience with lawsuits against euro bailout funds. He is fighting the bailout on two fronts: with a constitutional complaint, and with legal action against the federal government. He says, to date, parliament has not discussed the bill because important passages on the ESM are missing.

 

The Left party has launched a similar action against the government, and its delegates have also lodged constitutional complaints.

Also as we reported earlier, both Schauble and Weidmann would be delighted if things get to the referendum stage. And in the aftermath of last week's massive optical loss for Merkel, so will she. If it indeed gets to a referendum, Mario Monti may be far less exuberant with the outcome.

However, assuming that there was no grand master plan behind last week's decision, here is, once again, our math from last July showing just how much of Europe's bailout funding Germany has just footed. Keep in mind the context then was just Greece, as Italy and Spain were both "safe", now that is no longer the case. What hasn't changed one bit is the logic behind the amounts that Germany will have to backstop between Italy and Greece. To wit, from over 11 months ago:

  • An extension of the EFSF to cover Italy and Spain would require a €790bn (32% of GDP) guarantee from Germany

This number is even bigger now.

And what is truly hilarious is that all of this was already at the forefrunt of debate last summer, when the EFSF was once again the bailout ex machina, only then the world and capital markets were a little bit smarter, and realized that there was simply not enough cash to cover the funding needs of both countries. This in turn led to the whole 3x-4x leverage debate that would bring the EFSF to €1 trillion: a plan which was scrapped some time in October and promptly forgotten once it was deemed unfeasible.

In other words we are right back where we started one year ago! Next up: cue the debate over how to increase the funding ot the EFSF/ESM bailout complex. Just like last year. And cue the 3x-4x bailout fund leverage expansion discussions for August-September 2012, once again in carbon copy replica of 2011, all only to be quickly forgotten. Because institutional memories sure are short. And because there is just no more money left.

So for all those who have forgotten last year's full mathematical analysis (because math still trumps politican lies and empty promises any day), here it is. All over again.

* * *

The Fatal Flaw In Europe's Second "Bazooka" Bailout: 82 Million Soon To Be Very Angry Germans, Or How Euro Bailout #2 Could Cost Up To 56% Of German GDP

A funny thing happened in Euro spreads today. While the bonds of all PIIGS countries surged higher in price (and plunged in yield) upon the announcement of the second Big Bang bailout, the reaction in core Eurozone credit was hardly as exuberant, and in fact spreads of the two core European countries pushed wider by the end of the day, and over the last week. Why? After all the elimination of peripheral risk should have been seen as favorable for everyone involved, most certainly for those who had been seen as supporting the ever more rickety house of European cards. Well, no. Basically what happened today was a two part deal: the i) funding of future debt for countries that are currently locked out of the market (all the PIIGS and possibly core countries soon) or in other words the "liquidity mechanism" which is being satisfied by the EFSF "TARP-like" expansion, and ii) the roll-over mechanism for existing holders of debt which "allows" them to "voluntarily" transfer existing obligations into a "fresh start" Greece which can then emerge promptly from the Selective Default state that is coming from Moody's and S&P any second, and supposedly allow the country to access markets as a non-bankrupt country.

For all intents and purposes the second can be ignored, because as has been made clear over the past few days, and as will be demonstrated below, the actual rollover from non-Peripheral banks will be de minimis, the bulk of impaired debt being held by banks in the host countries as is, and used as collateral with the ECB in the form of par instruments for cash.

Now the second part of the mechanism was never an issue further demonstrated by the plunge in net notional in Greek CDS as core banks no longer needed to hedge exposure and instead opted to divest their holdings. This is merely a red herring that attempts to confuse the issues associated with the first, and far more important concept: the nuances of the EFSF and its imminent expansion. And expand it will have to, because in reality what is happening is that the net debt of the countries will end up growing even more over time for one simple reason: this is not a restructuring of existing debt from the perspective of the host country! Simply said Greek debt will continue growing as a percentage of its GDP, meaning it, and Ireland, and Portugal, and soon thereafter Italy and Spain will be forced to borrow exclusively from the EFSF. Therein lies the rub. In a just released report by Bernstein, which has actually done the math on the required contributions to the EFSF by the core countries, the bottom line is that for an enlarged EFSF (which is what its blank check expansion today provided) to be effective, it will need to cover Italy and Belgium. As AB says, "its firepower would have to rise to €1.45trn backed by a total of €1.7trn guarantees." And here is where the whole premise breaks down, if not from a financial standpoint, then certainly from a political one: "As the guarantees of the periphery including Italy are worthless, the Guarantee Germany would have to provide rises to €790bn or 32% of GDP." That's right: by not monetizing European debt on its books, the ECB has effectively left Germany holding the bag to the entire European bailout via the blank check SPV. The cost if things go wrong: a third of the country economic output, and the worst case scenario: a depression the likes of which Germany has not seen since the 1920-30s. Oh, and if France gets downgraded, Germany's pro rata share of funding the EFSF jumps to a mindboggling €1.385 trillion, or 56% of German GDP!

The Europarliament, ECB and IMF may have won their Pyrrhic victory today... But what happens tomorrow when every German (in a population of 82 very efficient million) wakes up to newspaper headlines screaming that their country is now on the hook to 32% of its GDP in order to keep insolvent Greece, with its 50-some year old retirement age, not to mention Ireland, Portugal, and soon Italy and Spain, as part of the Eurozone? What happens when these same 82 million realize that they are on the hook to sacrificing hundreds of years of welfare state entitlements (recall that Otto von Bismark was the original welfare state progentior) just so a few peripheral national can continue to lie about their deficits (the 6 month Greek deficit already is missing Its full year benchmark target by about 20%) and enjoy generous socialist benefits up to an including guaranteed pensions? What happens when an already mortally wounded in the polls Angela Merkel finds herself in the next general election and experiences an epic electoral loss? We will find out very, very shortly.

Below is Bernstein's full breakdown:

Continuation of the current strategy with a materially enlarged EFSF and private sector participation in liquidity support

Despite the failure of the current strategy, there is still a theoretical option of an extension of the current liquidity support with a materially enlarged EFSF that would also be buying government bonds in the secondary market. We believe this is the least likely option given the size of the fund required to achieve the objective.

An extension of the EFSF to cover Italy and Spain would require a €790bn (32% of GDP) guarantee from Germany

This strategy is not only unlikely to succeed but would also run into some serious structural difficulties. To cover 100% of the roll-over for Greece, Portugal, Ireland, Spain, Italy and Belgium as well as an allowance for bank support at 7% of the banks' balance sheets until the end of 2013, the support mechanism(s), would need to be able to deploy a total of €2.4trn in available funds.

Assuming the Greek Loan facility and the EFSM remain in place, the EFSF would have to increase its deployable funds from currently about ~€270bn to €1,450bn.

Given the 20% overcollateralization requirement on the current EFSF structure and the fact that countries that receive EFSF support are not able to provide valid guarantees mean that in order to create a €1.45trn funding capacity, the total fund would have to be €1.7trn. The guarantees to be provided by Germany would have to be €791bn or 32% of GDP.

There is a legitimate question whether in particular Germany would see the point of committing that kind of support to a concept that has so far been extremely unsuccessful. It also would expose Germany to a worst case scenario of a French downgrade. Without France, the guarantee need would rapidly move towards the whole of the €1.7trn. As the market is getting increasingly concerned about France, the odds are heavily stacked against an extension of the EFSF as a pure liquidity support mechanism.

If Banks were to participate in a liquidity expansion their contribution would be minimal

Within the current strategy one of the open questions is whether or not the private sector can participate by providing liquidity to the periphery countries. We believe this to be a fundamentally marginal discussion despite its enormous political importance.

Based on the stress test data released on Friday, we find that whilst the banks account for the majority of the very short term paper, their total share of the funding requirement into 2013 is just 23% and 16% of the total EFSF.

The question is how big the private sector participation could be. Taking the "French proposal" as a guide, the private sector participation would reduce the size of the EFSF by €137bn or 9% of the €1.45bn EFSF funding, assuming 70% of the debt is rolled over, 30% collateralization and 75% of banks participate.

The problem with this private sector participation so far has been the risk that this may be regarded as a default by the rating agencies. As a consequence the banks would have to write down these exposures to market prices. This exercise would lead to reported write-downs for the European banking sector of €75bn, 0.55 times more than the liquidity support that the EU is seeking. And in particular in Portugal and Greece the fallout of the MTM losses far outstrips the increase in liquidity.

Even more importantly, more than half of these losses would occur in the banks of the periphery countries themselves. In the absence of an open market for these banks, the losses would have to be made up by the governments themselves and subsequently added back to the EFSF utilization.


And there you have it: the cost of the euro not plunging today as a result of the ECB not proceeding with outright monetization, is that Germany is now the ultimate backstopper of all of Europe's risk. And while before, when the EFSF was just over €400 billion or so, the market could largely ignore the risk, a €1.5 trillion "upgrade" certainly changes the equilibria dynamics. In an attempt to avoid the appearance of inviting inflationary pressures on Trichet's central bank, Germany has directly onboarded the risk associated with terminal failure of this latest and riskiest "bailout" plan and in doing so may have jeopardized anywhere between 32% and 56% of its entire annual economic output. One wonders if the risk of runaway inflation is worth offsetting the risk of a plunge into the worst depression in the nation's history? It sure isn't for the Fed.

The most ironic outcome would be if the eurozone, in an attempt to prevent further contagion at the periphery, simply invited the vigilantes to bypass Italy (recall how everyone was shocked that instead of attacking Spain, it was Italian spreads that got destroyed in a manner of days), and head straight for the country on whose shoulders lies the fate of the entire EUR experiment?

Is Atlas about to shrug and topple the entire oh so heavy house of cards?

 

 


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Sat, 06/30/2012 - 22:31 | Link to Comment williambanzai7
williambanzai7's picture

I'm afraid the Greeks are going to get whipped royally by the angry Austerity Mistress. 

Sat, 06/30/2012 - 22:50 | Link to Comment Master Chef
Master Chef's picture

But the Germans always win! (except of course for that 1966 world cup watched by 98000 people - I guess the crowd for this glorious defeat might be a bit bigger).

Sat, 06/30/2012 - 23:48 | Link to Comment iDealMeat
iDealMeat's picture

WB7, Seriously??  This is  a Goldman Sachs show... 

 

 

Sun, 07/01/2012 - 00:04 | Link to Comment slewie the pi-rat
slewie the pi-rat's picture

i thought i knew what was going on

then i read this

the best part:  just like last year, BiCheZ! 

Sun, 07/01/2012 - 00:19 | Link to Comment RockyRacoon
RockyRacoon's picture

Slewie, you sly dog... er, rat.   I wonder how long this yearly crying of wolf will work?  They save it for big downturns in markets so that the Ponzi can be rolled over for another period.   I think this will be the last time it works.  All this just to save a some banker fat asses.  Bondholders need to look into another line of work -- like mowing grass.

Sun, 07/01/2012 - 00:33 | Link to Comment caconhma
caconhma's picture

Let us skip all ZeroHedge BS and review the true reality: It was American, British, French, and other Europian countries policy for the last 100 years to "contain" Germany. All Germany's European allies’ policies were to deny Germany its right to defend itself militarily and to reduce Germany to some sort of a sub-colonial status. This is all EU is about.

Regardless what America and EU's members say, a collapse of EU will lead to reemergence of Germany freed from a sub-colonial status.

Back in 1933, A. Hitler broke Germany free and Zionist Banking Cartel has declared a war to Germany. Yes, check the history records: Jews declared war on Germany the next month Hitler came to power.

America, Britain, and France could not do much against Germany for a while since the Soviets' socialists supported their German Nationalist Socialist "brothers". So, America, Britain, and France have done everything possible to have another war between Germany and the Soviet Russia.

Both Hitler and Stalin where stupid enough to buy this shit. But, in a mean time, Germany became involved in a war with America, Britain, and France. It was not planed that way but any war is very unpredictable. Just ask Napoleon, Czar Nicholas, Hitler, Stalin, George W. Bush, and Obama.

The moment Germany gets free from its post-WWII status and unites with potentially Russians and Chinese, America, Britain, and France and Zionist banking mafia will be cooked for good. Until then, Germany will play by the America, Britain, and France rules.

In a mean time, as it happened back in the 1929-going forward, the world will go into a severe worldwide depression.

Sun, 07/01/2012 - 00:50 | Link to Comment Master Chef
Master Chef's picture

All joking aside, I do believe you have nailed it caconhma.

Sun, 07/01/2012 - 01:36 | Link to Comment Nachdenken
Nachdenken's picture

Very depressing. 

ZH plays the conspiracy cliche without the loud pedal.  The caconhma premise however holds - recent history shows that the moves to limit German ascendancy have been well coordinated and carried out. Germany is often like a child with immense strength which it does not use optimally.

Sun, 07/01/2012 - 02:20 | Link to Comment Sandmann
Sandmann's picture

Read up on the Morgenthau Plan and JCS1067 

Sun, 07/01/2012 - 08:40 | Link to Comment Colombian Gringo
Colombian Gringo's picture

The Banksters understands Deutchland. Germans are going to get it the way they like it, tied up,  ball gagged, whipped and begging for mercy. 

http://wolfibound.net/

Sun, 07/01/2012 - 09:44 | Link to Comment Sandmann
Sandmann's picture

and then see how JCS1779 led to the Schumann Plan because France refused to accept a German State on its borders at the London Conference and tried to keep German as a non-sovereign occupied territory - pretty rich considering France had not even bothered to fight after May 1940

Sun, 07/01/2012 - 12:33 | Link to Comment The Big Ching-aso
The Big Ching-aso's picture

 

 

"When everyone more equal, everyone more equally screwed."

Neoconfucius

Mon, 07/02/2012 - 08:48 | Link to Comment Ar-Pharazôn
Ar-Pharazôn's picture

you know really good history........ YOU SAY JUST BS

 

you know what is L`Armée libre francaise? no? GO AND STUDY IDIOT

 

my grandfather served from 1940 to 1942 in north africa as captain, under the command of Montgomery. he was french and he fought for L'Armée libre francaise (which mean free french army)

 

now shut up and open a book

Sun, 07/01/2012 - 13:24 | Link to Comment jonjon831983
jonjon831983's picture

Thx for refresher.  Parts of history we probably forgot to look deeper in (or rather, don't bother looking deeper into) back in high school.

German industrial base was taken down by post-war occupational policy... which basically means everybody else with productive capacity could take over the slack.

Of course, taken in context Germans had lost the war and Allies probably feared a resurgence.

Sun, 07/01/2012 - 02:30 | Link to Comment slewie the pi-rat
slewie the pi-rat's picture

all 3 at once?  just amazing 

Sun, 07/01/2012 - 03:14 | Link to Comment schatzi
schatzi's picture

I'm Austrian and I feel extremely uncomfortable with such conspiracy assertions. There is no way to justify the Axis behaviour during that time, no matter who had cornered Germany and its satellites into fascism (under the assumption that Germany was actually cornered by others - which is highly debatable). I'd agree that Germany's central geographical position made it difficult for the other larger European powers to accept it as a dominant power and the stars were therefore never positively aligned for Germany and never will.

Sun, 07/01/2012 - 08:35 | Link to Comment disabledvet
disabledvet's picture

Since when is war about justification...

Sun, 07/01/2012 - 11:23 | Link to Comment TheGardener
TheGardener's picture

@disabledvet

"Since when is war about justification..."

Nietzsche had it just like you and asked if "any good war"
ever needed justification. He served (not really fought but)
in 1871/2 while having been a professor in Switzerland and still joined the German campaign for the season . Good war wrong point? Any good war worth fighting ? Maybe, but never ever join their wars.

Sun, 07/01/2012 - 09:43 | Link to Comment Sandmann
Sandmann's picture

There is no way to justify the Axis behaviour during that time

Germany wasn't Fascist but National Socialist. Very different programme from the Socialist Intellectual Mussolini who invented Fascism having been a British agent in WW1. BTW, as an Austrian, can you tell us what year Stalin planned to invade Western Europe as follow up to the 1920 invasion of Poland ? Do you think the 1923 Uprisings in Thuringen and Dortmund were Comintern inspired - they did ship the guns ?

Why do you think there was a Locarno Treaty but France created alliances with Poland, Czechoslovakia etc to encircle Germany in the East  and then failed to honour them ?

Sun, 07/01/2012 - 11:02 | Link to Comment Stackers
Stackers's picture

Sandman you are only focusing on one side of the paradigm. Hitler was itching for a fight just as much as western "elites - aka zionist jew bankers (rothschilds, cough cough) were trying to provoke him into one. This is not about Britian and France vs Germany. It's about certain european banking oligarchs playing everyone against each while they profit from the death and debt paradigm as they play both sides of the game at the same time. They've been doing it for hundreds of years, over and over and over.

Sun, 07/01/2012 - 05:30 | Link to Comment JuicyGrabs
JuicyGrabs's picture

"Back in 1933, A. Hitler broke Germany free and Zionist Banking Cartel has declared a war to Germany."

What a load of steaming BS.

Who funded Hitler`s wars? Know anything about IBM`s involvement in the nazi camps? What about the Henry Ford poster on the wall in Hitler`s office?(http://www.youtube.com/watch?v=YQiW_l848t8)

Hitler`s socialist party rose to power by implementing something similar to Obama`s job bill, giving government jobs to people and setting up soup kitchens, after the Weimar inflation wiped out many people out.

Aside the socialist setup, Hitler also beat the drum on racial supremacy of the blonde, blue eyed(ironic again because many Germans and Austrians have hazel nut brown eyes) so called aryan race. Everyone who was not tall(funny since Hitler was very short man, nicknamed like Napoleon "the tiny corporal"), blonde and blue eyed was gonna be fucked by not being allowed to reproduce in the New World Hitler envisioned. "Reproduction" party centers were setup where certain German officers who passed the "racial purity exam" were allowed to party and freely impregnate german women.(the hazel nut eyed germans were ofc left out, not invited to those parties).

 

They`ve also setup programs to castrate those who didn`t fit certain profile, including their own with alleged mental illness(which is funny because both Hitler and Stalin were proven psycopaths).

If you read Mein Kampf you`ll learn that his plan was to turn Berlin into world`s capital city into a big giant crazy planned economy, a NEW WORLD ORDER(famous word here) of the worst kind. He took literally the German "Deutschland Uber Alles"(Germany above all) hymn.

His political creed was based on total war. He believed and famously said that "every generation should go through a war" because war builds character. He borrowed lots of Nietzsche idea regarding this issue as Nietzche valued warmongering nations for not being pussies. Nietzsche basically labeled Germans few decades back, prior to Hitler`s ascension, as pussies who only rarely showed warrior attitude and argued that it was something that needed to change.

 

No one declared war on Germany. Germany declared war on the world. Plain and simple

Sun, 07/01/2012 - 05:33 | Link to Comment sabra1
sabra1's picture

you didn't mention that Hitler was born a Hungarian!

Sun, 07/01/2012 - 05:50 | Link to Comment JuicyGrabs
JuicyGrabs's picture

Hitler was Austrian not Hungarian. He also had a Jewish grandmother which made his whole racial supremacy thing even more idiotic.

Sun, 07/01/2012 - 09:53 | Link to Comment Sandmann
Sandmann's picture

Why ? He simply saw Jews as either Capitalists or Bolsheviks and not Germans or Austrians - hardly a unique position. Stalin purged Jews in his Show Trials and set up camps to round them up in 1950-  but the Jewish Doctors Plot saw him murdered in 1953 so his plans were unfinished

http://www.amazon.de/Hitlers-Judenhass-Ralf-Georg-Reuth/dp/3492051774/re...

Sun, 07/01/2012 - 10:58 | Link to Comment JuicyGrabs
JuicyGrabs's picture

ehh.... headscratch.

Wrong.

He saw Jews as semitic Untermenschen, an inferior evil race who only seek to corrupt pure gentile souls.

 

Stalin, on the other hand, was afraid of growing circle of Jewish party members that might take over power in some kinda` kinship, overthworing the regime and forming an alliance with US and Western powers as these powers were backing Israel. 

He had disagreements with Beria(guy who eventually killed him) on whether to back Israel in the Middle East or the Arab States. Stalin voted in favor on arab states and Beria was for Israel. Reign of Beria was short lived however.

On January 12, 1931, Stalin gave the following answer to an inquiry on the subject of the Soviet attitude toward anti-semitism from the Jewish News Agency in the United States:

            In answer to your inquiry:       

National and racial chauvinism is a vestige of the misanthropic customs characteristic of the period of cannibalism. Anti-semitism, as an extreme form of racial chauvinism, is the most dangerous vestige of cannibalism.       

Anti-semitism is of advantage to the exploiters as a lightning conductor that deflects the blows aimed by the working people at capitalism. Anti-semitism is dangerous for the working people as being a false path that leads them off the right road and lands them in the jungle. Hence Communists, as consistent internationalists, cannot but be irreconcilable, sworn enemies of anti-semitism.       

In the U.S.S.R. anti-semitism is punishable with the utmost severity of the law as a phenomenon deeply hostile to the Soviet system. Under U.S.S.R. law active anti-semites are liable to the death penalty.

 
Sun, 07/01/2012 - 15:31 | Link to Comment caconhma
caconhma's picture

You both right and both wrong.

The Soviet Bolshevik leaders were exclusively Jews financed by both the City of London and the WallStreet. Their leader was L. Trotsky. He has joined the Bolshevik Party just few weeks prior to" the October Bolshevik Revolution". Trotsky came to Russia with ~3,000 Jewish thugs and humongous amount of money but he did not have any roots in the Russian society.

The second Bolshevik group came from Germany and was led by Lenin. Lenin (Bloch) was a part Jew on his mother side. He was the founder of the Bolshevick Party.

The Bolshevik goal was to destroy and dismember the Russian Empire. However, as soon as Lenin took over power in Russia he forgot who his masters were. He was a professional revolutionary. He was craving for a world revolution under his leadership. This was the primary conflict between Lenin going for a world revolution and Trotsky loyally serving to his Zionist Banking Cartel (the City and the WallStreet). Lenin was an extremely capable master of intrigues and politic. He understood that he could not rely of his Jewish comrades. After all they almost assassinated Lenin in 1918 but he was able to survive. So, Lenin decided to use a man he could trust. This man was Stalin. The Stalin’s goal was to contain Trotsky and his thugs.

Since almost the entire Bolshevik leadership was Jewish, Stalin had worked with them. Stalin concentrated his primary efforts building/creating the Communist Party bureaucracy and security services loyal exclusively to him. Jews were selected and appointed by Stalin to lead/control NKVD (the People Commissariat for Internal Affair -- Stalin’s SS and Gestapo) and were in charge of his personal security.

Trotsky, his people, and Lenin’s Old Guard were agents of the Zionist Banking Cartel and Stalin wanted to become the New Russian Empire (a.k.a. the Soviet Union) Czar. A conflict became inevitable. Stalin has won and slaughtered almost entirely old Bolshevik guards. These people were thugs and gangsters. Killing each other was their way to do business. Stalin did not go for innocent people. Stalin has killed other gangsters who otherwise would kill him. Consequently, Zionist controlled media declared Stalin to be a bloody and sadistic monster since he liquidated Zionist agents in the Soviet Union.

During the WWII, Franklin D. Roosevelt and the Zionist Banking Cartel were helping Stalin in his fight with Nazi Germany. As a part of the deal in helping Stalin in WWII, the Zionist Banking Cartel forced Stalin to agree to a creation of “an independent Jewish Homeland” inside the Soviet Union. By the WWII end, Stalin has changed his mind about “an independent Jewish Homeland” inside the Soviet Union. Instead Stalin has helped to create an independent Jewish Homeland in Palestine (a.k.a. Israel).

However, the Zionist Banking Cartel was not happy with Staling “changing his mind”. Consequently, Soviet Jews started openly challenge Stalin trying to overthrow his regime. Stalin struck back hard and intended to get rid of many Soviet Jews. At the same time, Stalin was involved in another internal struggle for power. Stalin wanted to transform the Soviet Union in a way similar to the China transformation after the Mao rule. The Soviet Communist Party bureaucracy did not like it and they have killed Stalin.

The bottom line: there were not too many innocent victims among power elite in the XX-century. However, there were close to 200 million common people slaughtered as the result of endless XX-Century wars and “revolutions” financed and promoted by the City of London and the WallStreet.

PS

If only Marxist revolutionary Leon Trotsky could imagine what has become of his great-grandson, David Axelrod (the Chief Obama advisor). It appears that after all Bolsheviks took over America…

Mon, 07/02/2012 - 05:25 | Link to Comment Bringin It
Bringin It's picture

Hard to be stunned these days, but the last part about David Axelrod (the Chief Obama advisor) being Trotsky's grandson is truely stunning.

What happened to bankster agent Trotsky?  Didn't he get killed in Mexico?  Guess the Banksters don't win 'em all.

Sun, 07/01/2012 - 05:39 | Link to Comment Element
Element's picture

 

 

"No one declared war on Germany. Germany declared war on the world."

 

People with first-hand experience and observation say that's all ignorant bullshit:

http://www.iamthewitness.com/DarylBradfordSmith_Freedman.html

Sun, 07/01/2012 - 05:52 | Link to Comment JuicyGrabs
JuicyGrabs's picture

Which part of the "all non-blonde blue eyed aryan will get fucked" war against humanity Hitler wanted to wage on the world you don`t understand?

Way too many people regurgitate neo-nazi crap websites instead of picking up some books and actually read what Hitler and Nazis were all about.

Sun, 07/01/2012 - 09:36 | Link to Comment Wjunk
Wjunk's picture

Great comment and first comment above as well.

 

Way too many people imbue the 'Joooos' with some kind of superhuman power - as a race/religion/creed/whatever - to secretly control the world.

The idea that evil people exist - of all races, creeds and religions - doesn't pass the reality barrier these whacked people maintain in their xeno-phobic bubbles.

All craziness leads to the Jews as a secret cabal: Hitler, neo-nazis, too many Ron Paul supporters (and maybe the RP savior himself) and too many here at ZH as well.  Otherwise logical and rational people lose their minds when it comes to the Jews. No wonder Hitler did so well.

Sun, 07/01/2012 - 16:58 | Link to Comment JuicyGrabs
JuicyGrabs's picture

I`m a Ron Paul supporter myself. Lots of groups are drawn to the Liberty movement.  There are some misguided supporters, just like there are plenty of anti-semites in the Occupy Wallstreet pro-Obama camp or in the Romney camp.

Sun, 07/01/2012 - 11:31 | Link to Comment Spastica Rex
Spastica Rex's picture

Welcome to teh Zero Hedge. Enjoy the batshit crazy. +1 for you.

Mon, 07/02/2012 - 04:18 | Link to Comment Element
Element's picture

Benjamin Freedman is a J E W ... you knee-jerking populist clown.

http://www.iamthewitness.com/DarylBradfordSmith_Freedman.html

He must be batshit crazy, right?

Cretin!

Mon, 07/02/2012 - 04:22 | Link to Comment Element
Element's picture

HA!  ... same goes for you fuckhead!

Benjamin Freedman is a ...  J E W !

Do you even have any clue who he is, or was?

Did you even look at it before you commented ... you pathetic fool?

Sun, 07/01/2012 - 21:06 | Link to Comment caconhma
caconhma's picture

I would not be surprised finding out that almost all neo-Nazi crap has been created by paid Zionist provocateurs masquerading as neo-Nazis or Nazi sympathizers.

They are good on it. Just look at “Free Syrian Opposition” or “Freedom Fighters” in Libya committing barbaric atrocities against civilians or Turkey’s government masquerading as Muslim fighters against Israel but in reality they are a loyal Zionist/Nato member spearheading aggressions against Arab and Muslim countries on behalf of the USA and Israel.

 

Mon, 07/02/2012 - 04:36 | Link to Comment Element
Element's picture

Hey before you go making assertions of 'neo-NAZI'-ism, you might actually want to look at some facts before you start talking shit.

Benjamin Freedman is a J E W

http://www.iamthewitness.com/DarylBradfordSmith_Freedman.html

So he must be a wonton NAZI, right? ... I mean ... yeah ... that makes sense ...

In this place, we tell

A L L   T H E   F A C T S

 

Not just the ones you don't find suitably 'pretty', or else, omit the ones that cause you some dystopic processing issues.

Grow-up and learn to cope.

Mon, 07/02/2012 - 04:15 | Link to Comment Element
Element's picture

LOL!

It might interest you to know, shit-for-brains, that Benjamin Freedman is a ...

 ... wait for it ... a ...

J E W !

If that equates to 'NAZI' in your mind, well, you might think that, but I couldn't possibly comment.

What an ignorant dumb-shit  lol

Mon, 07/02/2012 - 05:07 | Link to Comment Element
Element's picture

 

 

"Which part of the "all non-blonde blue eyed aryan will get fucked" war against humanity Hitler wanted to wage on the world you don`t understand?

Way too many people regurgitate neo-nazi crap websites instead of picking up some books and actually read what Hitler and Nazis were all about."

--

You can try talking populist and propagandising arse here, but don't think you'll get away with it sport, here's a direct quote from your beloved former leader ... yeah ... I'm sure you're not ... riiiight!  ; 

 

"Our race is the Master Race. We are divine gods on this planet. We are as different from the inferior races as they are from insects. In fact, compared to our race, other races are beasts and animals, cattle at best. Other races are considered as human excrement. Our destiny is to rule over the inferior races. Our earthly kingdom will be ruled by our leader with a rod of iron. The masses will lick our feet and serve us as our slaves."
 
— Menachem Begin - Israeli Prime Minister 1977–1983

--

Yeah, have a look fool, it's right there on the sidebar:

http://www.iamthewitness.com/index.html

So then, what were you saying about racists and nazi filth?

Is what Begin said, you know, not just a wee bit 'off' then?

Couldn't it maybe be interpreted as, possibly the most blatant fascist racist comment ever put into print?

Is it not a standing and lasting tribute to the mental and cultural sickness called Zionism?

You can see how people might have a bit of a problem with a poisonous little zionist cunt like that ... right?

All I've pointed out are some KNOWN FACTS, and also the first-hand eye-witness reporting of a person on the spot, from a JEW no less!

 

At best, you're a low-grade idiot ... really, ... ... at best.

Sun, 07/01/2012 - 09:35 | Link to Comment Sandmann
Sandmann's picture

Chamberlain wasted his time at 11am on 3 September 1939 then ? Should have told the French so they didn't need to declare war at 5pm.

Sun, 07/01/2012 - 05:51 | Link to Comment blabam
blabam's picture

Didn't the allies declare war on Germany when they invaded Poland? Why didn't those same allies declare war on uncle Joe at that time? Just asking. 

Sun, 07/01/2012 - 06:00 | Link to Comment JuicyGrabs
JuicyGrabs's picture

I assume you`re talking about the Soviets(Uncle Joe). Germany and Soviets had the Ribentrop Molotov deal when they`ve decided to divide Poland between themselves.

Why didn`t allies also declare war on Soviets? They were hoping to turn them against eachother and win them as allies. The British knew there was big distrust among the Germans and Soviets and played that to their advantage. Declaring war on both would have only strengthened a German Soviet alliance against the western powers.

Sun, 07/01/2012 - 06:22 | Link to Comment Wolferl
Wolferl's picture

Soooo, you agree that WW2 was about anglo-american world domination and not things like democracy and humanity?  

Sun, 07/01/2012 - 06:36 | Link to Comment JuicyGrabs
JuicyGrabs's picture

Hitler and Stalin had several meetings discussing how to divide "The British Empire" as they`ve called it. They just couldn`t settle on some things as Germans believed they were trully superior to the red nazis(which they were technologically at the time). They didn`t want to make concessions to the Soviets and give them too much power. Hitler naively thought he could take down the Soviets and then focus on taking out the Western powers himself or perhaps force a surrender.

Was Soviet victory possible without the US-British help, selling Stalin tech and weapons? Probably not.

This doesn`t change the fact Hilter wanted a German empire by conquering the world and a "Deutschland uber alles" based on a racial supremacy theory.

Sun, 07/01/2012 - 09:34 | Link to Comment Sandmann
Sandmann's picture

Hitler naively thought he could take down the Soviets

 

Not naive at all. He would have done so without Greece. Ig Italy and Bulgaria hasn't screwed up in Greece he would not have diverted divisions. If Japan has attacked the USSR as planned and not Pearl Harbour, Zhukhov's troops could not have reached Stalingrad and the US would have stayed neutral.

Sun, 07/01/2012 - 10:22 | Link to Comment JuicyGrabs
JuicyGrabs's picture

Correctly assessing power of your forces and that of the enemy is still part of the strategy. Hitler tended to overestimate himself as military leader, overestimate the German combat potential and underestimate the enemy. Fatal combination.

After Hitler`s initial success in taking out Poland, France and Benelux countries in Blitzkrieg, he saw himself as a brilliant, failure free commander, when infact the Blietzkrieg worked well because it only suited his fiery temperament and worked in that limited, specific context.

He was convinced the was on a divine path of manifest destiny. He strongly believed that even more after the failed assassination attempt against him, when he barely survived.

German units got bogged down in the Russian winter, where many have died(same as happened to Napoleon when he went against Russia). History didn`t teach him a lesson there. Things you`ve mentioned were also a part of strategic failures but he made many mistakes.

Sun, 07/01/2012 - 21:33 | Link to Comment caconhma
caconhma's picture

Correction. Hitler was forced to fight Soviets. Hitler was not ready to start a war with Russia in the summer of 1941. Hitler invaded USSR with 1 million horses as his main transportation. Hitler had no choice. A 5.7 million strong Red Army was in a midst of a final deployment for invading Germany.

Nazi struck first with 220 divisions, 2,300 combat aircrafts, 2,800 tanks against the Red Army with 335 divisions massed on the German border with 13,500 combat aircraft and 21,000 tanks. This was a self-defense for Germans. The major Stalin miscalculation was that the Red Army was not too eager to fight and die for sadistic murderer Stalin and his Jewish commissars. However, due to Hitler personal military incompetence, Nazi Germany lost too many opportunities.

Hitler was a very naïve fool. This is how Stalin called Hitler in his inner circle. Hitler wanted to destroy Soviet Jewish Bolshevism and have a loving peace with Zionist Banking Cartel (the City of London and the WallStreet). Hitler indeed was a fool.

 

Sun, 07/01/2012 - 09:32 | Link to Comment Sandmann
Sandmann's picture

Democracy and Humanity - my you must have been breast-fed at secondary school. Poland was not a Democracy in 1939 and not in 1948 either - it was an Anti-Semitic Dictatorship. WW2 was about Saving Stalin and the US and UK succeeded in bring Stalin into the heart of Berlin and almost gave him Denmark and Germany too.

Sun, 07/01/2012 - 09:30 | Link to Comment Sandmann
Sandmann's picture

The Allies were Britain and France.......the US declared Neutrality on 2. September 1939 and was simply too overwhelmed by Big Powers fighting - after all the Japanese sank USS Panay in 1937 and the US simply rolloed over and asked the Japanese to forgive them

 

Sun, 07/01/2012 - 06:44 | Link to Comment DavidC
DavidC's picture

Napoleon was 5' 6" or 5' 7". Hitler was 5' 8".

Neither of them short.

DavidC

Sun, 07/01/2012 - 07:08 | Link to Comment JuicyGrabs
JuicyGrabs's picture

Depends on how tall those around them were. You can only judge that by comparison. A short man by western standards could be a tall giant in a pigmey tribe or in some Asian country.

I`d say anything below 6` is considered short by western standards these days.

Napoleon Bonaparte - 5'2" Josef Stalin 5'4" Josef Goebbels 5' 5" Adolf Hitler 5'8" George Bush 5'11" Saddam Hussein 6'2" Idi Amin 6'4" Osama Bin Laden 6'4.5"

http://digitaljournal.com/article/180853 https://en.wikipedia.org/wiki/Napoleon_complex
Sun, 07/01/2012 - 08:43 | Link to Comment BattlegroundEur...
BattlegroundEurope2011's picture

I conclude that "Height" makes no difference to the amount of blood on a particular leaders hands.

 

Sun, 07/01/2012 - 09:32 | Link to Comment roadhazard
roadhazard's picture

At 6'1" I used to love walking around China Town in San Fransisco. I could see over there heads for blocks.      

Sun, 07/01/2012 - 10:08 | Link to Comment Jake88
Jake88's picture

ever hear of a Napolean complex. Napolean was not only short. Short is one of the characteristics he is remembered for.

Sun, 07/01/2012 - 12:00 | Link to Comment TheGardener
TheGardener's picture

"Aside the socialist setup, Hitler also beat the drum on racial supremacy of the blonde, blue eyed(ironic again because many Germans and Austrians have hazel nut brown eyes) so called aryan race. Everyone who was not tall(funny since Hitler was very short man,"

Ironic indeed, because the scum that came out at last is just like our today`s "elites" or nothing but...

Those still stupid Aryan looking folks got sent to the trenches for extermination. Some of the "blond and blue eyed" as Thomas Mann depicted them still got to survive in the very upper and under class.

Brown eyed sorry folks still each having a vote,
despite their tendency to up-vote any Hitler non so Aryan
type of politicians even though race has nothing to do
with politicians going their way. No maniac dictators, just
politicians as they were and still are and would be if circumstances let them have their way.

Mon, 07/02/2012 - 08:56 | Link to Comment Ar-Pharazôn
Ar-Pharazôn's picture

so there is no economic cause in the war? LOL

 

go and study!

Sun, 07/01/2012 - 06:35 | Link to Comment TWSceptic
TWSceptic's picture

How did this BS get so many up votes? Just sad.

Sun, 07/01/2012 - 06:50 | Link to Comment GeneMarchbanks
GeneMarchbanks's picture

You can always point out the BS yourself and then we can all have a go at your take. While this forum doesn't really allow for any of us to go into detail making the statement above pretty general, I fail to see where it falls short.

Sun, 07/01/2012 - 07:23 | Link to Comment TWSceptic
TWSceptic's picture

It's antisemitic revisionist BS, anyone who knows and understands the history can tell you that. I've seen many antisemitic posts here but this one has to be the worst. Apparently some people haven't learned a thing and are perpetuating the same mistakes, just scary.

Sun, 07/01/2012 - 07:33 | Link to Comment GeneMarchbanks
GeneMarchbanks's picture

Right, antisemitism exists what's your point? Revisionist? How? Keeping in mind that 'history' has no official 'truth' that cannot be opened up for debate.

The same mistakes? LOL, that's absurd. Banking cabalists have taken governments hostage, Paulson got little or no push-back at all since America only exists as phantom not an actual State. It isn't working so well in the periphery of the Pax Americana construct where the blatant criminality is about to get confronted. Where exactly are you confused?

Sun, 07/01/2012 - 08:29 | Link to Comment TWSceptic
TWSceptic's picture

Neo-Nazi propaganda is different from what most here know is an unsustainable financial system. People again are looking for a scapegoat, some never learn from history. Even in sceptical environments like ZH it's astoundingly easy to convince a group of people to dangerous ideas. And so it shouldn't surprise anyone Greece's Golden Dawn gained 7% in june elections. When things go bad economically, people look for a group of people to blame for it, so they don't have to take the blame themselves. There is nothing confusing about it.

 

Sun, 07/01/2012 - 09:20 | Link to Comment GeneMarchbanks
GeneMarchbanks's picture

You cannot dangle Golden Dawn as some 'extremist' threat for two simple reasons: i) they are obscure and tiny, being more of fascist type than "Nazi" and ii) the fact that they seem from afar at least, less extreme than the current status quo.

 

Mon, 07/02/2012 - 05:02 | Link to Comment Bringin It
Bringin It's picture

Isn't it time to say anti-Jew is better language for what we're talking about here than anti-Semite?  Disposessed Palestinians are Semites.  A lot of Jews seem to harbor a lot of hate for the real Semites.

 

Sun, 07/01/2012 - 07:36 | Link to Comment JuicyGrabs
JuicyGrabs's picture

Many make the mistake of thinking that everyone who speaks against the status quo is right and has solid thruthful information.  This gives nazi propaganda material a boost in times such as these unfortunately.

Just because Hitler made a hint or 2 regarding powerful banking cartel and their influence in the world doesn`t make nazi propaganda right or truthful.

All these anti-NWO folks that quote Nazi propaganda don`t understand that the Nazis were planning the worst kind of NWO 1984 style system and using anti-bankster propaganda while doing so. 

Sun, 07/01/2012 - 07:45 | Link to Comment Offthebeach
Offthebeach's picture

Doofus. How do you think the artist, Hitler paid for the summecamps,Autobahn, weapons, graft to evey city and hamlet party hack? He went INTO debt.
The Generals said they wouldn't be fully ready for offensive operation until 1942-43. And they were not. So why did Hitler act? Because he was in default. He couldn't get dollars or pounds to make interest
payments. Schacht, his central banker, had printed so many RM that they were becoming Weimar quality. So, financially the Hitler boom was going bust.
Hitler and the Nazis misalocated capital, and then millions of lives. They were the human actors, and the choose poorly. With the exception of Speer, they were economic idiots.

Mon, 07/02/2012 - 05:05 | Link to Comment Bringin It
Bringin It's picture

Sounds like a mirror image of our times.

WWIII starts over Syria?

Georgia got a face full of push-back.

Sun, 07/01/2012 - 08:00 | Link to Comment tony wilson
tony wilson's picture

the germans have been programmed well.

they still believe those 100 plus american military facilities all over germany are for protection.

a few of those bases  are as big as a small town.

nobody asks why,nobody seems to want to know why so many in what is meant to be a free democratic country.

maybe cos it is not free or truely democratic.

germany is just a bigger fatter uk,us countrolled states of the world.

Sun, 07/01/2012 - 08:04 | Link to Comment GeneMarchbanks
GeneMarchbanks's picture

Germany = Egypt

Layer after layer of stinky "democratic" civilization is stripped off until you find the core is a military dictatorship.

"Noble, Enlightened Western civilization is not Uganda"

Sun, 07/01/2012 - 08:04 | Link to Comment AnAnonymous
AnAnonymous's picture

It was American, British, French, and other Europian countries policy for the last 100 years to "contain" Germany.

_____________________________

100 years so started from 1912.

US's policy was certainly not to contain Germany.

On the contrary, US of A policy was to support Germany's expansion plans.

The US lobbied hard and successful for the german debt to be given up while insisting that countries like GB and France to pay their debt to the US.

So US insisted on France and UK to repay their war debts while obtaining a free pass for Germany.

Best, US sent piles of money for Germany to build up military equipment, helping Germany to bypass limitations.

US collected money from GB and F and sent money to Germany to re arm.

Looked more like conflict engineering than containment.

Sun, 07/01/2012 - 08:40 | Link to Comment disabledvet
disabledvet's picture

I agree with this. The "piss 'em all off" strategy. And "I don't know how you've done it America but you've done it again dammit! You've done it...AGAIN!"

Mon, 07/02/2012 - 09:07 | Link to Comment Ar-Pharazôn
Ar-Pharazôn's picture

i m sorry but you're wrong (half wrong :P)

 

USA policy is "divide et impera" the same of the roman empire.

 

USA's policy between the 2 wars was to support both parts (germany vs allied forces) so they could maximise their earnings. supporting only one faction is just like saying i want 50% of the earnings not the 100%

Sun, 07/01/2012 - 10:05 | Link to Comment Treeplanter
Treeplanter's picture

Hitler loves you.  Go ahead and display your swastika.

Sun, 07/01/2012 - 10:21 | Link to Comment littleguy
littleguy's picture

This is such a typical European continental strategy. Bury your head in the sand and hope it goes away. Blame it on the US/UK/Zionists. 

Total high-school history bullshit. Germany is a modern nation with whom we can compete, Europe is a dead-end fast track to serfdom, the destroyer of national democracy and an affront to capitalism. 

France??? What the fuck planet are you on????

France is a communist irrelevance. It will only become relevant as the straw that breaks the camel's (read EU) back in the very near future.

 

Sun, 07/01/2012 - 11:53 | Link to Comment Marginal Call
Marginal Call's picture

"Both Hitler and Stalin where stupid enough to buy this shit. But, in a mean time, Germany became involved in a war with America, Britain, and France. It was not planed that way but any war is very unpredictable. Just ask Napoleon, Czar Nicholas, Hitler, Stalin, George W. Bush, and Obama."

 

"Everybody has a plan, until they get punched in the face." Mike Tyson"

Sun, 07/01/2012 - 21:49 | Link to Comment caconhma
caconhma's picture

I always said that even an idiot from time to time provides great info.

Sun, 07/01/2012 - 12:25 | Link to Comment Whiner
Whiner's picture

Heil Hitler! Should not have tried to reach Moscow.

Sun, 07/01/2012 - 12:42 | Link to Comment Paracelsus
Paracelsus's picture

Credit-Anstalt?

Sun, 07/01/2012 - 00:55 | Link to Comment slewie the pi-rat
slewie the pi-rat's picture

it's cyclical?

L0L!!! hi Rocky

LIBYA:  what if they gave an election and nobody made a speech?  National Elections in 7 Days, But No Issues Debated or Clear Platforms

apparently, some people will vote, soem people will be elected and then some people will decide what to do next...  so far they outlawed some parties, tossed some people in the klink, postponed the election for a coupla weeks  and now no one will say anything

what a concept!  she won big b/c she had the most dignified silence?  that mime was a mortal lock?  the dancer looked like definite cabinet material?

Sun, 07/01/2012 - 08:07 | Link to Comment tony wilson
tony wilson's picture

libya is so yesterday fella.

an ex mission.a rare success.

operation depleted uranium

operation rockerfella cancer care

operation gold extraction

operation imf debt slave

operation gadaffi water project destruction

operation western corp rebuild with imf loans

operation theft of sovereign wealth funds

opertion keep them fighting themselves so we can carry on looting.

operation sweet oil extraction

semper fi

Sun, 07/01/2012 - 08:50 | Link to Comment g speed
g speed's picture

TU --- operation "overlord"--clear as bell

Sun, 07/01/2012 - 10:08 | Link to Comment Lord Koos
Lord Koos's picture
Except for a couple of messy world wars last century, yeah they always win.
Sun, 07/01/2012 - 19:43 | Link to Comment zorba THE GREEK
zorba THE GREEK's picture

I drink your milkshake, Germany.

        ......Zorba

Sat, 06/30/2012 - 22:51 | Link to Comment ACP
ACP's picture

I beg to differ. They will get whipped by the Greek God of "What Goes Around, Comes Around."

Sat, 06/30/2012 - 23:36 | Link to Comment knukles
knukles's picture

Ah, the old messy Greek reach around.
Enjoy, Deutscheland.

The last credible application of salve to the weeping shanker has been abandoned.
All of the German Monetary Band-Aids to be used with not a thought to addressing the Actual Disease.
The bottomless pit has just opened for Germany.

Watch them CDS spreads, kids.
Whosoever been a selling them is a gonna get hit real bad.

(Knukles strolling under starry skies, hands in pockets, whistling softly enjoying true experience of serenity... not the first rodeo....)

Sat, 06/30/2012 - 23:05 | Link to Comment barliman
barliman's picture

 

My money is still on Germany leaving the EU/euro ... and soon.

July 9th will come and go without Germany "completing" what was extorted this past Friday.

If I might suggest an Ouroboros theme, wb7, I think you could find a wealth of material ....... which end of the snake is the beggar?  Both!

The German people must decide whether it is better to take significant pain in the near term - GERMexit - but retain a future for their children.

Or do they prostrate themsleves before the beggars of Europe who will tear the very flesh from Germany's bones before they change ANY of their expectations and face reality?

Which is the bottom line for all of the EU.  Where will the money come from after the beggars have picked Germany's bones clean?

barliman

Sun, 07/01/2012 - 01:05 | Link to Comment Temporalist
Temporalist's picture

I think the human cent-I-pad would be more appropriate.  The EZ is living off it's own debt by borrowing more from bankrupt countries and the banks are holding worthless bonds of bankrupt countries...they are eating each others shit and shitting it out to feed each other more shit.

http://www.youtube.com/watch?v=sdR7hCjQNwA

Sun, 07/01/2012 - 03:12 | Link to Comment barliman
barliman's picture

 

Tacky cinematic references aside ...

You have not addressed the question:

Where will the money come from after the beggars have picked Germany's bones clean?

If they cycle Germany's debt/GDP > 130%  ... where do the zombie banks find there next meal?

Where do the Italians find the rest of the money they will need?

Where will the French find the "fatted calf" to feed everuone counting on Hollande's socialist picnic?

If you don't know the answer, you need to think about it REALLY hard. Why?

Because 350 million addicts in the EU are days from going cold turkey and they are not going to be happy when they realize their social safety nets have all been ripped away.

barliman

barliman

Sun, 07/01/2012 - 04:42 | Link to Comment rufusbird
rufusbird's picture

Dear Germany, Don't let them take  you down.

Sun, 07/01/2012 - 08:42 | Link to Comment GCT
GCT's picture

Barli the Fed will sweep in and the USA will print to help.  We will all go down in flames.

Sun, 07/01/2012 - 09:07 | Link to Comment GMadScientist
GMadScientist's picture

Merka's a pretty fat calf.

Sun, 07/01/2012 - 13:06 | Link to Comment Paracelsus
Paracelsus's picture

I read somewheres that in the next 3 years the EU sovereigns have to roll over $450Billion in debt.

Wheres the  cash coming from if not from fresh debt?

Also,didn't anyone think that not allowing the countries to print might become a problem?

Sun, 07/01/2012 - 01:26 | Link to Comment i-dog
i-dog's picture

My money is on Germany NOT leaving the EU/EZ anytime soon.

Those behind the planning of the takedown of the west and the institution of an oligarchic central world government will not allow it. Even if a referendum were to be held, they'd mount a propaganda campaign in their captive mainstream media to engineer a 'no' vote. Indeed, a referendum may be held just to buy another month or two of delay! (Note: Even the woman "spearheading the alliance" for a constitutional challenge, Herta Däubler-Gmelin, is a Bilderberger - so don't expect anything more than talk from that angle!).

They need Europe to stay in one piece until after the US republic has "failed" and been placed under martial law "to save the people" ... so, they will keep on kicking the EU/EZ can and holding meetings until they've achieved that.

Meanwhile, in the US, every last support of a free and independent republic of sovereign atates and sovereign citizens is being removed ... one by one:

  • financial regulation; 
  • private property title; 
  • middle class savings; 
  • energy independence; 
  • small business employment; 
  • small farmer agriculture; 
  • free exchange of foodstuffs; 
  • generation of wealth through innovation, manufacturing and exporting; 
  • individual rights; 
  • private education; 
  • controlled government spending; 
  • balanced budgets; 
  • restrained taxation; 
  • free association and individually agreed employment terms; 
  • de-centralised state militias and local policing; and, finally, 
  • the right of the citizens to bear arms (which will disappear the same day that martial law/war is declared on the people).

The post-911 excesses of the 'US military' (which have not had the support of either the US Congress or the American people) have ensured that the rest of the world will have little sympathy for the US citizen when the end comes ... and I expect that end to occur within the coming 3-4 months.

I hope I'm wrong.

Sun, 07/01/2012 - 08:06 | Link to Comment AnAnonymous
AnAnonymous's picture

Those are powerful people.

Or US citizen fantasy.

Sun, 07/01/2012 - 09:05 | Link to Comment g speed
g speed's picture

media construct ----to uphold myth of invincibility of the elite---the truth is the elite will retreat -- urban US will never be occupied by military/police/enforcers---- the only option the elite have is to nuke the cities-and that won't happen.

Sun, 07/01/2012 - 10:31 | Link to Comment i-dog
i-dog's picture

Nukes...nukes...nukes...  Why does everybody have nukes on the brain!?!

Is it something to do with seeing everything as a nail when you're holding a hammer?!

Did the US nuke the North Koreans out of a stalemate in 1953? Did the Russkies nuke the Hungarians in 1956? Did the US nuke the Russkies? Or the Vietnamese? Or Cambodians? Or Iraqis? How about in Kosovo? Or Libya? Did either the Russkies or the US nuke those nasty Afghani terrrrst opium growers? Did the Hebes nuke the Raghedz in any of their biennial spats?

Cheeezuz fukking Khrist, people ... grow a fucking brain!!! You just might need one, shortly!

Nobody needs to, or will, nuke anybody. All they have to do in the US is shut down the food supply - in any of a number of ways - and 90% of the sheep will be queueing up to exchange a rifle for a few loaves of bread within just one week. Take a look at how despots in Africa bring their peasants under control, quick smart ... or how Australia and the UK were totally disarmed by their governments without a single shot being fired - in either direction.

Wake up!!!

Sun, 07/01/2012 - 06:49 | Link to Comment Chartist
Chartist's picture

Germans make 5 of the top 10 car brands in the world.  Do you actually think rich Chinese will opt for a Japanese Lexus over a Mercedes even if the Mercedes costs 20% more?  Hell, I'm still waiting for the Chinese to even to the score with Japan over WW2 atrocities.

Sun, 07/01/2012 - 09:26 | Link to Comment caimen garou
caimen garou's picture

agreed chartist,chinese do not forget the past

Sun, 07/01/2012 - 11:51 | Link to Comment Spastica Rex
Spastica Rex's picture

Germany will follow the path of "hope," duh.

Uroborus is where it's at, brother. There's no New World to populate and create (or destroy, if you're Indian), so the growth game is finished.

Renewable energy and abiotic oil and any number of ephemeralization schemes might save us. So might unicorns and faeries.

Sat, 06/30/2012 - 23:20 | Link to Comment macholatte
macholatte's picture

 

The Propaganda Machines are spinnig.......

 

 

As expected, more than two-thirds of the lawmakers in Germany's parliament moved on Friday to approve the permanent euro rescue fund, the European Stability Mechanism, and a fiscal pact long championed by Chancellor Angela Merkel.

 

Merkel Secures Vote for Euro Treaties

http://www.spiegel.de/international/europe/german-parliament-approves-esm-and-fiscal-pact-a-841816.html

 

 

 At first glance, it looked as though Chancellor Angela Merkel gave up several core demands during the EU summit on Thursday night. But did she? A closer look reveals a clever retreat to secure greater gains. To find the summit's true loser, one must look no further than Paris.

Merkel's Tactical Victory Smart Concessions from a Seasoned Negotiator

http://www.spiegel.de/international/europe/merkel-concessions-at-euro-crisis-summit-smarter-than-they-seem-a-841772.html

 

 

Monti's Uprising

 How Italy and Spain Defeated Merkel at EU Summit

http://www.spiegel.de/international/europe/merkel-makes-concessions-at-eu-summit-a-841663.html

 

 

 

 

(Reuters) - Angela Merkel was portrayed across Europe as the big loser of a euro zone showdown in Brussels after the German chancellor was forced to accept the crisis-fighting measures championed by countries struggling with their debts.

 

Merkel seen as big loser in euro zone showdown

http://www.reuters.com/article/2012/06/30/us-eurozone-reaction-idUSBRE85T0BJ20120630

 

 

Sun, 07/01/2012 - 02:33 | Link to Comment slewie the pi-rat
slewie the pi-rat's picture

hmmmm...thxz muchly macho_!

how does speaking german help here?  they got so many top-hats werken on this they can't say it means anything yet?

this link EU Leaders Ease Debt-Crisis Rules on Spain - Bloomberg  mentions the report outa the summit at the end, just b4 the reporters [Paste} : 

“If you think in terms of, not the short term, of days and weeks, but in terms of sustainability over the medium term, then this will achieve the desired effect,” Thomas Wieser, head of the group that prepares meetings of euro-area finance ministers and that drafted the summit statement, told reporters.

born in maryland and educated at innsbruck and colorado; the guy was in the news for these EU appointments last december

is he austrian-american? anyhow i think he convenes the finiMinis and writes the reports outs the meetings:  pretty powerful and not very visible;  there is not too much readily-available bio on him

he is "an austrian finance official"   L0L!!!

as my english teacher would say:  clear as mud...

Sun, 07/01/2012 - 00:25 | Link to Comment williambanzai7
williambanzai7's picture

She has got to be in the foulest of foul moods.

Sun, 07/01/2012 - 01:06 | Link to Comment HardlyZero
HardlyZero's picture

Vapors and pitchforks...until July 9.

Sun, 07/01/2012 - 11:05 | Link to Comment gatorengineer
gatorengineer's picture

Overthinking this one, way too much.  This just has to kick the can past November, when the annointed one will have more flexability.  Then the ECB / Fed WILL Monetize the whole thing.  The time they have to purchase is getting shorter every day...  The cost is just going up.

Sat, 06/30/2012 - 22:34 | Link to Comment walcott
walcott's picture

gas up the panzers or lube the ass for another round of euro gang banging.

Sat, 06/30/2012 - 22:33 | Link to Comment cherry picker
cherry picker's picture

At this stage of the game, for commoners like myself, it really doesn't matter anymore what Europe does, the USA does, China does or if Wall Street farts or not.

For me it is about my family surviving a few more years with some dignity.

The rest of the NWO and all the associated bullshit that comes along with it is now meaningless.

Sat, 06/30/2012 - 23:06 | Link to Comment Unprepared
Unprepared's picture

I'm not confident your family can survive on cherries over the course of many years. Unless of course the post-fiat currency would happen to be cherry seeds.

Sat, 06/30/2012 - 23:27 | Link to Comment CrockettAlmanac.com
CrockettAlmanac.com's picture

A cherry picker ought to do better than one who is Unprepared.

Sat, 06/30/2012 - 23:27 | Link to Comment Not Too Important
Not Too Important's picture

Monsanto won't allow them to grow from seeds they didn't purchase. They probably aren't fertile seeds, anyway. If the IRS or DHS doesn't get you, Monsanto's lawyers will. Enforced by authorized security force multipliers - mercenaries.

People think they'll be allowed to farm their parcels? How about a 99% tax payable in produce/meat product.

All governments will have no problem with Brown Shirts confiscating radioactive produce/meat to feed themselves (it's all radioactive now, btw). And that's if they're still around. Once large parts of our continents become radioactive wastelands, the government will just back away and let the locals still alive have at it.

People have no idea what's coming.

Sat, 06/30/2012 - 23:48 | Link to Comment Calmyourself
Calmyourself's picture

Enlighten us.  Always up for a little doom pron on Saturday night..

Sun, 07/01/2012 - 04:59 | Link to Comment resurger
resurger's picture

i just woke up ... is this good or bad news?

Sun, 07/01/2012 - 02:49 | Link to Comment salvadordaly
salvadordaly's picture

If you survive the blast or fallout,

"World made by hand" by James Howard Kuntsler

I would be happy to send you mp3 files if you would like.

Sun, 07/01/2012 - 05:33 | Link to Comment Non Passaran
Non Passaran's picture

And you somehow do. Wow.

Sat, 06/30/2012 - 23:28 | Link to Comment Big Corked Boots
Big Corked Boots's picture

Well, they sell cherry pits at my local Tractor Supply - use them as wood pellet stove fuel. So there's something of value, then...

Sun, 07/01/2012 - 00:05 | Link to Comment Harbanger
Harbanger's picture

A cherry picker is a machine, like a hydraulic boom used to lift heavy objects.  I'm not sure he picks cherries with it.  I've used one to lift a boat over rocks into the water.  This guy can probably survive better than you think.

Sun, 07/01/2012 - 01:48 | Link to Comment AustriAnnie
AustriAnnie's picture

Can it be used to lift gold from boating accidents out of the bottom of lakes?

Sun, 07/01/2012 - 09:14 | Link to Comment GMadScientist
GMadScientist's picture

It's also the name for the role of sorting good assets from bad (think Paulson making sausage...err..."preparing" Abacus).

Sun, 07/01/2012 - 09:11 | Link to Comment GMadScientist
GMadScientist's picture

"I'm not confident your family can survive"

I'm willing to bet a cherry picker might know a few more farmers than you do and may have earned their trust in a way that you never could: by demonstrating a work ethic. In the future, it will be about who you know, and who trusts you, not what you owe, and who can't.

 

Sat, 06/30/2012 - 22:33 | Link to Comment Paul Thomason
Paul Thomason's picture

If you follow astrology (which Bradley Model and Gann are based on by the way), the stars have turned nasty through 2015.  See the lastest weekly Asto-Technical Analysis - 'Mars Goes Cardinal, Fast!' 

The record of this has actually been surprisingly good!

Sat, 06/30/2012 - 23:30 | Link to Comment CrockettAlmanac.com
CrockettAlmanac.com's picture

 

 

Pee-wee: Exhibit "Q": a scale-model of the entire mall! X marks the scene of the crime. These arrows here show the exact position of the sun at the hour of the crime. Jupiter was aligned with Pluto! The moon was in the seventh...
Chuck: Pee-wee!
Pee-wee: Please save your questions until I'm THROUGH, Chuck!
Chuck: Well, when will that be? A long time, we wait! We've been here for over 3 hours now, and I'm not sure if any of us can see what all this is supposed to mean.
Pee-wee: Supposed to mean? Supposed to *mean*?
[breaks his pool cue]

Sun, 07/01/2012 - 09:16 | Link to Comment GMadScientist
GMadScientist's picture

You could've spent that fiat on crack.

Sat, 06/30/2012 - 22:34 | Link to Comment CrashisOptimistic
CrashisOptimistic's picture

The problem is Merkel's opposition is MORE inclined to hand over German money.  If she loses support in the polls, the winners won't even be reluctant.

Sat, 06/30/2012 - 22:48 | Link to Comment Rogier
Rogier's picture

That is the problem indeed. And Merkel has only 12 or so month more to go before the next Bundestag elections...

Sun, 07/01/2012 - 00:24 | Link to Comment RockyRacoon
RockyRacoon's picture

How much time do you figger before the next Reichstag fire?

Sun, 07/01/2012 - 02:17 | Link to Comment Sandmann
Sandmann's picture

Oh you mean Gulf of Tonkin ?  Germany has just passed The Enabling Act so it must have happened already.............the only people lighting Reichstag Fires are uS-sponsored in Syria

Sat, 06/30/2012 - 23:23 | Link to Comment AvenoSativo
AvenoSativo's picture

Merkel and, particularly her junior coalition partner (FDP), have been trailing the opposition alliance (SPD & The Greens) in ZDF polls for months now. The "Pro-Europa" Stockholm Syndrome Sufferers Alliance appears to be set to take over the government next year.

Last Friday, Merkel was not only "ambushed" (term used by The Telegraph) by the Italian and the French (I don't count Spain as any thing of actor-eligible in the drama) from outside but also by SPD and The Greens from inside.

You are absolutely right. The non-German speaking world still does not get it. Germany is in a trap and will stay in it willingly (as per its political "elites".)

The only fair and knowledgable comment on this matter I've read so far was the June 30, 2012, editorial of the Swiss Newspaper NZZ: "Gefangene der Märkte und des «Club Med» (Prisoner of the markets and the Club Med)".

Sun, 07/01/2012 - 05:37 | Link to Comment slaughterer
slaughterer's picture

That NZZ editorial is very well judged.  Thanks for posting it.  

Sat, 06/30/2012 - 22:38 | Link to Comment lewy14
lewy14's picture

The Latin bloc always knew that Germany was a piñata; all they had to do is whack her hard enough.

Sat, 06/30/2012 - 22:41 | Link to Comment Alpacanio
Alpacanio's picture

The German courts will decide, and make it right??? Ha! Just like the Supreme Court would overturn Obamacare?

 

Germany, you are now slaves! The only way out is to start another war i guess...  

Sat, 06/30/2012 - 23:01 | Link to Comment joq
joq's picture

The German court, I believe isn't as corrupt as the Supreme Court. If Elena Kagan where to sit in the German High Court, there would be no hope, but maybe, and it's a big maybe, they will do the right thing here.

Sun, 07/01/2012 - 00:29 | Link to Comment The Navigator
The Navigator's picture

Joq said "maybe, they will do the right thing here"

depends on if your courts justices receive an anthrax letter like they do here - just a little warning you know.

Justice = Just Us

Sun, 07/01/2012 - 02:15 | Link to Comment Sandmann
Sandmann's picture

to start another war i guess.

 

in Libya, Syria perhaps following the US again ?

Sun, 07/01/2012 - 03:41 | Link to Comment John_Coltrane
John_Coltrane's picture

In a sense the supreme court did destroy the part of Obamacare liberals cared the most about-the forced expansion of medicaid-which previously was possible be withholding FED $ for current medicaid.  Now, with no penalties for failing to implement the expansion at least half of the states will opt out of the exansion (all the ones run by republicans).  And since the penalty has been declared a tax the next rep controlled congress can simply lower the penalty tax to $0.0, something even a majority of dem congress would be hard pressed to resist voting for-and this reconciliation action is not subject to filabuster.  Voila, its destroyed in total.  Now on to block granting medicaid, and vouchering future medicare and we have two less entitlements.  Both block grants and voucher sizes would, of course, have to be supported by actual revenue.

Good health is a matter of personal responsibility and health care, unlike regular exercise, has very little to do with good health.

Sun, 07/01/2012 - 04:48 | Link to Comment falak pema
falak pema's picture

or a huge financial depression and a new paradigm without war; now that would be a world first, after millenia of wars. But we are in the age of instant Armageddon...so pushing the red button is now all or nothing type conundrum.

Sat, 06/30/2012 - 22:44 | Link to Comment I am Jobe
I am Jobe's picture

Sounds like whiners from the USSA. Can we have more Tomkat news please. TomKat news really does matter.

Sat, 06/30/2012 - 23:34 | Link to Comment CrockettAlmanac.com
CrockettAlmanac.com's picture

If you're looking for a dead TomKat bounce then this is it.

http://www.cinemablend.com/pop/Katie-Holmes-Filed-Divorce-She-Responsibl...

Sat, 06/30/2012 - 22:57 | Link to Comment LongOfTooth
LongOfTooth's picture

Imo it's playing out the way the puppet masters (the new world order crowd) wants it to.  

Sit back, burn one and "enjoy" the show.  

Bottom line: we're (U.S.A.) next and we're screwed.

 

 

Sun, 07/01/2012 - 03:20 | Link to Comment salvadordaly
salvadordaly's picture

Awh Fuck it I'll go ahead and sy since not on e "leader" of the world will.

The dog got ran over and is dead! No he did not go to a farm in upstate N.Y. A fucking dump truck ran over him and squished him flat as a pancake. He's buried in the the back yard, right there where that fresh dirt is in a pile.

God damn it if not one " leader off the free world" will say it I will!

It's done, you have lived the best years of your life! Get over it and let's move on. We are all broke and nothing is going to change it!

Cry if you want, or you can join me in the rebuilding, it starts now!

I don't want to hear your poor me! Fucking get up and let's move.

Who's fault does not matter, we will attend to that as we rebuild!

If someone had the balls just to tell the masses that, this fiasco would be solved a long time ago!

Life as you knew it is over! Adapt or Die!

Dance Monkey Dance, over and over, God Damn It This world economy is screwed and we are all on the hook. Complacent finger pointing is going no where!

Hit he fucking reset button and move on!

Now does any one want to know how I really feel?

Sun, 07/01/2012 - 07:08 | Link to Comment Arrowhead
Arrowhead's picture

Are you saying Daddy's getting us a new puppy?

ps I like the way you think.

Sun, 07/01/2012 - 08:54 | Link to Comment shovelhead
shovelhead's picture

So that's it then...

Animal House Death Machine moment has arrived?

Awesome.

Sun, 07/01/2012 - 09:19 | Link to Comment GMadScientist
GMadScientist's picture

http://www.youtube.com/watch?v=fw8YBfVq2jQ

"Now imagine your pain is a white ball of healing light...."

Sun, 07/01/2012 - 10:12 | Link to Comment Arrowhead
Arrowhead's picture

nice!

Sat, 06/30/2012 - 23:12 | Link to Comment misterbear
misterbear's picture
  1. Finally, back to where it all began and where it will all end.... Greece.  Every Greek bank is funneling money from the ECB knowing they won't repay.   Greeks are smarter than we think.
Sat, 06/30/2012 - 23:46 | Link to Comment Unique Snowflake
Unique Snowflake's picture

No. They're not. They're just being true to their dishonourable nature. The bleeding heart socialist fucks who control our lives and who lap up the bullshit spouted by their rich masters are just plain dumb to believe them...or corrupt and uncaring more like. When will the vast majority, the little people, the masses, rise up and smite their overlords? I hope it begins in Germany. DexitTM the Euro and let it live with it's own excesses. There will always be demand for quality well engineered products out of Germany. Let the lazy Southern slobs live in the filth of their own making. They deserve nothing more. Look at their history of default and still they ask for more. Let them all die if necessary and rid the world of them.

Sun, 07/01/2012 - 01:37 | Link to Comment Harbanger
Harbanger's picture

I see you're still living in the past, in many ways.  Do yourself a favor and Search the words "myth of German engineering".

Sun, 07/01/2012 - 09:21 | Link to Comment GMadScientist
GMadScientist's picture

You are the same decaying organic matter as everything else.

Sat, 06/30/2012 - 22:58 | Link to Comment joq
joq's picture

It does make sense, that Merkel, knowing the High Court, would deem the ESM unconstitutional, have passed the cup of being labeled the destroyer of Europe, and laid the burden on the people.

I sure hope the ESM will not pass the german High Court.

Sun, 07/01/2012 - 00:33 | Link to Comment RockyRacoon
RockyRacoon's picture

Germany has its share of bankers with their thumbs on the scales.  Bankers don't have borders.  They don't care where the money comes from to make them solvent.   For the typical banker, the serfs paying the bills don't have allegiance to any imaginary boundary on a map.   Bankers just don't care, period, except that they get paid.  What do courts have to do with it?  The bankers are trying to win every hand played.  Sure, they try to look all patriotic and shit, but in the end it's all about the payday.  The fact that it's now all played in a "common currency" makes the plundering easier.

Sat, 06/30/2012 - 22:59 | Link to Comment misterbear
misterbear's picture

China manufacturing growth weakens!  No way!  MJN will be fine - pay no attention - keep drinking the baby formula my Chinese friends.  It only costs 25% of your income.

Sat, 06/30/2012 - 23:01 | Link to Comment HoofHearted
HoofHearted's picture

Sounds like the German people should get out of euros and into PMs.

Sat, 06/30/2012 - 23:09 | Link to Comment ekm
ekm's picture

Typical european game. There is only one thing that matters and one only:

NOT TO GET BLAMED IN THE WORLD MEDIA. Berlusconi has already said he would be running again and if nothing came out of the meeting, Monti would have been dead meat within one week. Then...........blame Merkel - FT, Bloomberg, CNBC, Le Monde, Corriere della Sera, New York Times..........................

That's all it is about since there is no possible and no probable solution. When time comes that Italy and Spain have to come up with their 30% contribution, Germany will be there waiting to see that. Where is the moneyyyyyyyyyyyyyyyyyyyyyyyyyy? Where is the mooooooooooooooney? No monyyyyyyyyyy? Oh nooooooooooooo.

So, nothing is going to happen, everybody knows there's no money unless one unleashed food and energy inflation = revolution. As usual, give or take 1 week plus a few days, and it's all forgotten.

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