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Germany Pulls The Punchbowl As Usual
If yesterday was a repeat of the market action from that day three weeks ago before the last FinMin conference, when everyone expected Germany to announce it had agreed to a bank deposit guarantee, then today is, logically, day after. Because just like back then, so now, Germany has once again made it clear that it will first see the EUR crushed, and all off Europe begging for a bailout (as in the case of Spain - when presented with reality, they all will beg the one with the cash to come to the rescue). To wit from the German Finance Minister, via Stern magazine:
- Schaeuble Rejects European Redemption Fund: Stern Magazine
- German finance minister says redemption fund would violate EU treaties, in interview with Stern magazine
So contrary to the ridiculous hopes floated yesterday, and the even more ridiculous market levitation in response, there will be no banking union, no deposit guarantee, and no redemption fund. Well, there will be: on either of two conditions. European countries give up their sovereignty, which will likely never happen - this is, after all Europe - or it may if the respective local stock market are trading just north of zero, or if the bailout targets pledge their gold as decribed before. After all, it is quid pro quo Clarice.
Everything else is merely noise to make the required market crash to activate Germany's grand master plan, gentle and orderly.
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Nigel sorting them out again this morning I see
http://www.youtube.com/watch?v=TN_1mF-3JTI
Why should Germany take on trillions of euros of debt to support Greeks retiring at 50, french at work doing nothing, spanish wasting time, italians partying..etc?
ruh roh! Collapse Bitchez! Ensuring a Grexit on Sunday!
How do you say enough is enough in german?
Genug ist genug
Its universal, "Fuuuuuck"
"Heckler & Koch"
Followed by Spexit, Italexit, Porexit, etc.....
PIIGS on a spit
porexit or should that be a poor exit lol
.......Corexit.......
Regardless of whether your statements about each nationality are true, it is a well known rule in finance that personal guarantees for third parties are a poison to be avoided.
If they don't take on trillions in debt they are ANTISEMITES!!!!! it is as easy as that with todays 1984-doublespeak-psycho-zionist-satanist world.
Anti Semite: One who discriminates against or who is hostile toward or prejudiced against Jews
WTF has that got to do with bailouts?
Have you scrutinized the demographics of "the bailed out" recently?
Moron/s!
They probably won't...and the result will most likely be a strongly centralized power base of globalist puppetmasters.
"Why should Germany..."
Because they have a banking system that is wholly dependent on that DIP arrangement (just as China is dependent on the continued rapacious self-cannibalization of the US).
To be fair, he was using a teleprompter. Brought to you by HSBC.
Some people HAVE to slip, everytime they see a banana peel.
Downtick WTF?
I was just agreeing with Gene, that some people have to fall for the demagoguery everytime?!
Thanks for that Bargin +1
Puts a spring in the step to start the day at Fight Club.
Germany, using their classic NEIN NEIN NEIN catchphrase...
European countries give up their sovereignty, which will likely never happen
Wanna take a bet on that?
TPTB, which are NOT the European figure heads, are simply using the strongest member (Germany) to achieve their ultimate Hegelian objective, which is a more federalized Europe. Much panic and handwringing must happen first.
Here is how it works: EU goes into severe crisis (problem). Europeans want help but resist losing their sovereignty (reaction). The REAL and HIDDEN powers use Merkel to play hardball, the threat of complete destruction and severe chaos looms over Europeans, and eventually they are convinced that they must give up their sovereignty to even survive (solution).
PROBLEM/REACTION/SOLUTION. That's how this world works....always has, always will, as long as humanity doesn't realize how they've been played.
I know this is not the popular or consensus view as to what will happen, but I try to not underestimate the chicanery of the evil bastards. All heads of state are merely PUPPETS, actors on a stage....
I know this is not the popular or consensus view as to what will happen
I think this is the consensus on ZH...
Remember, it's Europe we're talking about. We have a 2000 year history of wars that have been waged on more trivial issues than sovereignty and class struggle...
The project United States of Europe is never going to happen. They pushed, but didn't succeed with that agenda during EU's "golden days" some 10 years ago just because nationalism runs deep on this continent.
I think many here agree with the basics of your post. The Globalists will unquestionably try to manipulate the Euro Crisis to support their goal of a single political entity comprised of former sovereign states, and ruled of course by the parasite club.
Merkel is in their pocket, as are many of the key players. An ongoing media propaganda blitz is the primary tool of choice. They would love to see the people of Europe accept slavery without any resistance, or even better, without the realization that they have given up their freedoms to a group of kleptocrats.
Germany is posturing from a position of relative strength but minus Germany's strength, one wonders what strengths Europe has left.
Europeans have fallen out of the plane only to find that Germany will not open her parachute because she knows that opening it will only weaken her.
Moreover the clever men in Germany have extrapolated the present European situation and I suspect they know that Europe is on borrowed time unless Europe submits to German rules and controls.
A dangerous game of chicken in my view.
Fine planning with blinders on.
But what will happen when German exports take a hit, which they will, and Germany itself needs stimulus' and growth?
Perfectly valid observation unless Germany has other customers in mind. The other problem is that even if Germany was supportive of imports from other European partners as a means of sharing her good fortune and management, how much can she import anyway? There are dead ends and conflicting issues no matter which way you turn.
Atleast someone cares about EU TREATies.
Angie seems less and less willing to party.
I think she misses Sark and is throwing a hissy fit.
And her party will in time be less and less willing to party with her.
Angie is reported to have booked a railway carriage in a forest outside the town of Compiegne as the site for the next Euro Summit.
If that rail car is rockin' don't bother knockin'. Angie will be showin' the PIIGS who is boss of that shit pile.
Interesting, isn't that how Hiiler got the French to surrender in 1940 and how the Allies got Germany to surrender in 1918 and now Germany wants to meet again in a railroad car?
A joke isn't funny if you explain it...
The euro server Germany's economy well for 10 years but it has become clear to Germany that the euro will bring them down going forward. They are just kicking the can now until they can get marks printed up for distribution.
Interesting that that company FTP from Canada who provide the paper for printing currencies shot up 50% up in the last few days. Now, I don'know who their clients are but it does not matter as EVERYBODY! will be printing, Marks, Dracmas, Francs, Dollars, etc. The end game is in clear view,
BUT NOONE WANTS TO ADMIT IT!!!
Spain Pain:
http://agstock.blogspot.com.es/2012/06/pain-in-spain-in-simple-graphs.html
Ijo de puta!
This is same narrative for past 2 years with Greece fire - Greece saved - violates EU treaties. Greece fire - Greece saved - violates EU treaties.
ad infinitum
I guess they figured it worked with Greece (Not really - but hey who cares that there are real people involved) .....
From this mornings Gains, Pains & Capital newsletter:
"I know, I know... Spain is saved thanks to a
€100 billion bailout. But no one is asking
just where this money will come from?
The IMF isn't involved. Nor is the ECB.
That leaves just the European Stability
Mechanism (ESM)... except for the little
known fact that only 3 of the necessary 17
EU members have ratified legislation to
even CREATE the ESM.
That's right... the ESM doesn't even EXIST
yet.
On top of this, Spain and Italy make up
30% of the ESM's supposed funding. So...
Spain is going to bail itself out?
And finally... Germany hasn't OK'd the
ESM. In fact, German opposition leaders
have stated point blank that hoping for
Germany to ratify the ESM before its
due date (July 1) is "completely unrealistic."
So... Spain is going to be bailed out by
a non-existent entity whose leading member
likely won't even have ratified its formation...
before July 1.
Again... WHERE is the money going to come
from? "
Also read:
Germany--> VEE HAVE YOU BY ZEE SCROTUM AND VEE VANT ALLLL OF ZEEE GOLD
So... Spain is going to be bailed out by
a non-existent entity
It will be a non-existent cash anyway, unless someone has earned and saved it.
Its not a non-existant entity its the EFSF today, which means its the Euro governments, and their central banks; aka Deutsch Bank, Banque de Fr etc. Of course apart from Germany all these central banks have more private bank sector debts to sustain, if marked to market, than potential assets available; just saying...
No because it is the ESM that was to be used not the EFSM, that's how you get the subordination issue in play....................
When you have them by the balls, their hearts and minds will follow. - Charles Colson
ENTER BEN vith zee cash to protect zee system!
Oke.... if banks don't nosedive today I don't know...
You'll know that the Germans are getting serious when they start rounding up the Greens for "re-education."
when ponz goes hyperponz.
hey Taylor - looks like they are going to be using bitcoins in place of euro's now
Lemmings, meet cliff.
There ain't no gold in them thar hills. I'm betting there is not a single ounce of unemcumbered gold in Europe, britain or the US. Britain sold its gold remember. Germany's gold is in London and the US. The US gold has't been audited in 60 years. In 71 France wanted to get paid in gold but the US had none left so they went off the gold standard. While gold was sold off over a 20year period to reduce its credibility who was buying-- the people especially the Indians and oil producers. Now nothing left but paper everything and the confidence is lost. Banks don't trust banks, countries don't trust countries, people don't trust their fraud ridden gov'ts so people are pulling deposits from the system. Every dollar out of the system, including stocks and bonds is 20, 30 or 40 nails in the financial systems coffin. Let the bank run continue.
Let the bank run continue.
I want to see a 100m sprint and then a marathon.
What is the rush. The stock market barely drops anyway. When they decide it is time to save Europe, every market will rocket to record levels because everything is once again fixed. Keep waiting for your "black swan" event in a rigged game with imaginary money. They have spent the last 4 years learning how to never allow an event like Lehman to happen again. If they need to invent 20 trillion, so be it. If they need to break laws, rules, treaties, gentlemen's agreements; they will. I thoroughly enjoy reading all the Washington Generals fans here believing day after day that THIS will finally be the day the Generals beat the Globetrotters.
People expecting a hard sudden crash will be waiting for a long time, as this will be a well managed, orchestrated step by step event(s).
The only think that can crash it in a rush is bank runs, and that will not be allowed to happen, as the sheeple will never awake.
Or a big war.
Spain will be Spain. And why wouldnt the germans love a nice cheap euro? It's a viable way to boost exports, and to attract tons of tourists from around the globe. If the euro hit parity with usd, im sure the germans would be delighted. They should talk tough and threaten to kick all of southerm europe out of the eu every day.
By that token, the ECB should just print, print, print...that'll get the EURUSD below parity in a hurry.
It wouldn't cause sov rates to skyrocket further or imports to be more expensive (who needs inputs to production anyway).
They'd need all 6 billion of us to come over for it to be a win.
Germany's view may be driven by something more human:
http://asportinginterest.blogspot.ca/2012/06/cherchez-la-frau.html
"Politics is all about cliches, caricatures and playing to type, and so in these uniquely ridiculous circumstances it seems reasonable to suggest that Merkel's nature - if it may be said that women have a distinct nature - could plausibly include some feminine stereotypes."
Or, as one male analyst said recently, "there's no negotiating, she's got her rape-suit on."
Germany sez "Cash for gold!"