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Hannan: "The Euro Is The Problem, Not The Solution"

Tyler Durden's picture


72 seconds of crystal-clear thought from English MEP Daniel Hannan as he rather poignantly questions European leaders on the results of last July's European Stress Tests (and the Spanish banks passing with flying colors). In one of the more colorful analogies of the European cataclysm, Hannan describes Europe's self-dealing bailouts as "a transfusion, taking blood from one arm and pumping it into the other arm" noting that unfortunately, there is also a hole in the tube. You simply don't solve a debt problem with more debt; as he concludes "the Euro is the problem not the solution".


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Wed, 06/13/2012 - 19:11 | 2523806 world_debt_slave
world_debt_slave's picture

here we go again, same old song and dance, bitchez!

Wed, 06/13/2012 - 19:15 | 2523818 lordbyroniv
lordbyroniv's picture

Someone really needs to start this revoilution already.


How much longer can this go on?


Wed, 06/13/2012 - 19:18 | 2523834 world_debt_slave
world_debt_slave's picture

let Ted Nugent explain it

Wed, 06/13/2012 - 19:45 | 2523858 Manthong
Manthong's picture

If you want a few chuckles and a bit of encouragement : 

We need a statesman in this country that understands as much about traditional U.S. culture and the Constitution as Mr. Hannan.

Wed, 06/13/2012 - 20:18 | 2523970 Will To Live
Will To Live's picture

I salute Daniel Hannan.

A. No one there.

B. 2 people clapped at conclusion.

C. Europe is Fuct.

Thu, 06/14/2012 - 07:00 | 2524846 Kingbingo
Kingbingo's picture

"How much longer can this go on?"

Some of us were wondering that in the 70's. As much as I would like the answer to be something else, these central planners can stretch things out longer than you would think possible. 


That said, I am liking the accelerated rate that the various turds are getting pureed by the fast moving air cooling device at the moment. Gives me hope we can’t be at this for that many more years.  

Wed, 06/13/2012 - 19:47 | 2523894 buryfarmer
buryfarmer's picture

The moment van rompuy found out spain would need a bailout:

Wed, 06/13/2012 - 20:10 | 2523948 Peter Pan
Peter Pan's picture

A group of powerful men and corporations wanted a world without borders where people and capital could travel freely. That is why a Euro was crucial to this outcome. But the outcome simply serves the financial mob and its bets which are now made in the name of one Euro currency.

But the freedom of movement also enabled jobs to go walking and profits to change location. The workers got told that they were no longer competitive.

Thu, 06/14/2012 - 02:39 | 2524689 Ghordius
Ghordius's picture

sure, that's why the financial mob is shrieking to break up the Euro, eh? the group of powerful men and corporations that want a world without borders hates trading and monetary blocks.

all what this MEP is asking is that the southern countries break up and default by devaluing, which would make wonders for banker's bonuses

his country devauled by 30%, up to now. magic? well, it's a bit like slashing the payroll of every Briton by 30%, isn't it? luckily, Britons are not complaining that "they were 30% less competitive than the other europeans"


so go on, since this is the solution let's ask for California to set up it's own currency and do the same trick /SARC

Wed, 06/13/2012 - 21:29 | 2524110 xtop23
xtop23's picture

I kinda enjoyed that actually. Short and sweet, guy's got style.

Wed, 06/13/2012 - 22:10 | 2524235 Cole Younger
Cole Younger's picture

Nigel Farage on Spain Bail Out

Wed, 06/13/2012 - 19:09 | 2523808 veyron
veyron's picture

That lady could hardly hide her glee ...

Wed, 06/13/2012 - 19:12 | 2523815 Sophist Economicus
Sophist Economicus's picture

Long lasting batteries

Thu, 06/14/2012 - 01:46 | 2524647 GMadScientist
GMadScientist's picture


Wed, 06/13/2012 - 19:30 | 2523852 Estrella
Estrella's picture

I noticed that. She could care less. She is on the "team" and is "going to be taken care of" as long as she "does as she is told".

Just exactly like the Senate and House here in the U.S.

We are past the point of no return. This problem cannot be fixed. I do not know when it will come to a crisis, or how bad the crisis will be, but, it is inevitable that the crisis will come.

Wed, 06/13/2012 - 19:11 | 2523811 ronaldawg
ronaldawg's picture

Both Hannan and Farage are "my nigga" - these guys are telling it like it is. 

Wed, 06/13/2012 - 19:14 | 2523827 BKbroiler
BKbroiler's picture

yeah, I was wondering, maybe Nigel is taking on scholars.

Wed, 06/13/2012 - 19:16 | 2523831 GOSPLAN HERO
GOSPLAN HERO's picture

Man, you gots to like Obama!

Wed, 06/13/2012 - 19:13 | 2523817 ArrestBobRubin
ArrestBobRubin's picture

Well Duh!

Wed, 06/13/2012 - 19:15 | 2523828 Ganja Jane
Ganja Jane's picture

 From CFR youtube channel, "Secretary Geithner discusses the state of the global economy and the U.S. recovery":


Wed, 06/13/2012 - 21:05 | 2524058 NemoDeNovo
NemoDeNovo's picture

FU Timmay you little Troll Fucker, and how Sweet Greenspans wife interviewing Timmay @ the CFR.  If I have to explain this being problematic then you are not paying attention.

Wed, 06/13/2012 - 21:41 | 2524138 xtop23
xtop23's picture

I have an incredibly high pain threshold. I was able to watch Little Timmy for a total of almost 6 seconds before I had to click the back arrow.

Wed, 06/13/2012 - 19:17 | 2523832 whoisjohngalt11
whoisjohngalt11's picture

Love the transfusion analogy :-)

Wed, 06/13/2012 - 19:19 | 2523835 kaiten
kaiten's picture

Move on, nothing new here. Just another british clown.

Wed, 06/13/2012 - 20:11 | 2523946 AUD
AUD's picture

Yep, ZH pimping another Brit who is happy to take the Euros he seemingly despises, all the while ignoring the bigger deadbeat across the channel.

God save our gracious Queen... God save our noble Queen...

Wed, 06/13/2012 - 21:43 | 2524145 Ricky Bobby
Ricky Bobby's picture


I say we let Europe sort itself out this time. No Yanks, No Russians, No Brits. Let's just let nature take its course and see what happens. My bet is Socialism will receive it's just rewards - WASTELAND.

Wed, 06/13/2012 - 21:53 | 2524171 AUD
AUD's picture

Sure, but what the fuck do you think the Brits can contribute anyway, except wankers like Farage & Hannan?

Wed, 06/13/2012 - 19:20 | 2523838 ebworthen
ebworthen's picture

Transfusion from one arm to the other, LOL.

Or taking a skin graft from the face for the ass cheeks.

Wed, 06/13/2012 - 20:00 | 2523926 krispkritter
krispkritter's picture

Or Vice Versa. And fat from their asses to plump up their they can kiss more asses. 

As stated above, Farage and Hannan may get it, and some others because you can hear them applauding Farage at the end of his focused and astute rants, but there can't be that many of them because the insanity continues unabated. 

I love the fact that Hermie Van "Can I touch Your" Rump-boy isn't even showing up for these sessions. Truths a bitch huh?

Wed, 06/13/2012 - 20:21 | 2523977 Will To Live
Will To Live's picture

Rectal Cranial Inversion.  Look it up.

Wed, 06/13/2012 - 19:23 | 2523842 aleph0
aleph0's picture

"72 seconds of crystal-clear thought from English MEP Daniel Hannan"

The above was typical British understatement .

Wed, 06/13/2012 - 19:26 | 2523849 nmewn
nmewn's picture

Using one credit card to pay off another credit card doesn't work?

Wed, 06/13/2012 - 19:34 | 2523865 Bendromeda Strain
Bendromeda Strain's picture

No, but robbing Peter to pay Paul does!

it's the Chicago way...

Wed, 06/13/2012 - 19:37 | 2523868 iDealMeat
iDealMeat's picture

Yup,  Using a CC @ 14% to make payments on a CC @ 9%  =  FAIL

Wed, 06/13/2012 - 19:50 | 2523908 Beam Me Up Scotty
Beam Me Up Scotty's picture

Except when Daddy is there to back up his spoiled rotten brat.

Wed, 06/13/2012 - 20:03 | 2523933 Zero Govt
Zero Govt's picture

did someone mention Mit Romney?

Wed, 06/13/2012 - 19:40 | 2523879 theTribster
theTribster's picture

It does if you have an infinite supply of credit cards that have infinite credit limits, just ask Benny Bernanke and he'll explain how it can work very well. Of course, for him its just an analogy because he has, as we all know, the printing presses that provides unlimited credit. But hey printing press vs infinite card with infinite limits = no difference. Just make sure to get points with those credit cards :)

I'm starting to get the shakes from lack of QE stimulus, its the new drug of choice for Wall Streeter's don't ya know? They get a little a that and its off the races, they like the good stuff though none of that popsicle twist bullshit - we want the direct liquidity injection baby - everywhere. Fuck the needle, get the firehose and bring it on - equities, commodities, some more bad debts, everywhere, just spray money Benny. In fact, see how much you can shoot across the pond to help out the poor Eurozone, you and I know we don't want them to collapse as its fucking up the value of the dollar!

OK, nuff rambling.

Wed, 06/13/2012 - 20:03 | 2523934 tom a taxpayer
tom a taxpayer's picture

My left nut is levitating, perhaps in anticipation of QE stimulus.

Wed, 06/13/2012 - 23:50 | 2524516 Taint Boil
Taint Boil's picture

Taint Boil in the middle

Wed, 06/13/2012 - 20:05 | 2523935 tom a taxpayer
tom a taxpayer's picture

My right nut just started levitating: confirmation of QE stimulus.

Wed, 06/13/2012 - 20:03 | 2523936 krispkritter
krispkritter's picture

It does if you have the Federal Reserve Absurdium Credit Card issued by the Bank of limits, no payments, no audits...'Just Take Our Word For It, Would We Lie To You?' TM

Wed, 06/13/2012 - 20:10 | 2523947 1000924014093
1000924014093's picture

Allow me: "That's totally different!  Private debt is NOT the same as public debt.  If it's public debt, you can do magic tricks with it."

Just ask teh Krugman.

Wed, 06/13/2012 - 19:33 | 2523862 New American Re...
New American Revolution's picture

Close, but as bad as Europe might appear, the Middle East is about to eclipse it; but this will only exasperate Europe further as world trade sprials into the dregs.   This is going to get very bad quickly, what with all this gasoline on the ground it takes just one match and there is a fire going on.   The same sides are still fighting over the Ottoman Empire 100 years later, only they are better prepared, better armed, and have a lot of experience fighting wars these last 4 decades.   This is serious stuff my friends, and all I'm reading here are comments from a bunch of clueless, wannabe comedians with nothing to say.  Except Ganja Jane, and she's high.

Wed, 06/13/2012 - 19:39 | 2523876 Bendromeda Strain
Bendromeda Strain's picture

Look pal, nobody here is clueless, well, except for maybe Euro fan Kaiten. You want a discussion on the ME powderkeg? Fine. Just let us know in advance what you anticipate accomplishing right now, on this thread. Mkay?

Wed, 06/13/2012 - 19:49 | 2523887 Herodotus
Herodotus's picture

Sorry, but nobody gives a rip about the middle east.  All we care about in that region is the countries that have oil; and if things get bad and they won't sell us the oil voluntarily, we will send in troops to seize it and won't bother paying for it.


Wed, 06/13/2012 - 20:09 | 2523945 newengland
newengland's picture


That's your answer: send troops to steal oil? You are a vile thing, and the NDAA was probably written in order to protect your sort from those you abuse, eg the troops, you silly venal moron. The troops are not your toy soldiers, and you will find that out when your sort least expects it.

Thu, 06/14/2012 - 01:55 | 2524658 GMadScientist
GMadScientist's picture

President <BlueTeamNoRedTeam>,

That's your answer: send troops to steal oil? You are a vile thing, and the NDAA was written in order to empower your sort to abuse, eg the troops, you silly venal moron. The troops are not your toy soldiers, and you will find that out when your sort least expects it.


Thu, 06/14/2012 - 02:51 | 2524702 Think for yourself
Think for yourself's picture

I don't think he was personally endorsing that view, but only exposing it. At least that's what it sounds like, when you read "we" as "TPTB".

Wed, 06/13/2012 - 21:50 | 2524161 scatterbrains
scatterbrains's picture

"wont bother paying for it" is that the same as printing money out of thin air in exchange for oil? because I'm pretty sure we're allready doing that in a one off kinda way

Thu, 06/14/2012 - 01:52 | 2524653 GMadScientist
GMadScientist's picture

Can you do it without paying the troops either?

Because that's what it'd take.

You have precious little understanding of how difficult it is to hold someone else's territory long enough to extract oil.

Wed, 06/13/2012 - 19:56 | 2523919 theTribster
theTribster's picture

So whats changed in the middle east?

I would suggest that people here are far from clueless and there is sometimes insight from comical verbiage, besides its fun to read (and sometimes write). Lighten up, most of us are here to get more informed and this is one of the few places left that many count on to help do just that.

I among many believe that the middle east will be used once again to expand our war mongering activities while at the same time and maybe more importantly shifting focus away from the impending and inevitable global financial collapse. This collapse will lead to extreme unemployment which no gubmint will allow for long without either solving the problem or going to war. Every gubmiont fears the population, especially when things are bad and getting worse, this leads to having too many young men with nothing to do but start trouble (from the gubmints POV).

So, I'm sure I missed something but thats my take on the middle east as it relates to our financial situation. I do think the war will expand quickly to encompass parts of Africa as well as most of the middle east, even the Saudi's soil will be involved. This is part of the reason behind the Saudi's trying to convince other Arab nations to form a coalition similar to the Eurozone, this is something they would dominate and centralize additional resources. I'm not sure what happened with that effort, it was two or three weeks ago when I first heard about it.

A little rambling tonight....

Wed, 06/13/2012 - 20:13 | 2523955 newengland
newengland's picture

New American Republic,

I understand your frustration when you see sophists and corrupt crony capitalists conspire whilst most people overlook the ongoing longest overseas wars in U.S. history and such people will be shocked - SHOCKED I tell you - when their petty provincialism and money mithering ways end...suddenly. Who will they turn to when troops despise them?

Your sentiment is true, but this is a forum for politics and money, therefore most here are unable to comprehend the big picture.

Best wishes to you and yours, friend.

Thu, 06/14/2012 - 02:55 | 2524707 Think for yourself
Think for yourself's picture

to be fair, aside from a few small-time traders I've met who only wish to understand the rule of the matrix they're playing in (blue-pill traders, wanna-be 1%ers), traders are probably the population with the best coeficient of systemic understanding. Coming from a physicist who delights in systemic analysis.

Wed, 06/13/2012 - 19:34 | 2523864 sancho_panza
sancho_panza's picture

how refreshing it is a politician speaking sense!

Wed, 06/13/2012 - 19:40 | 2523875 Pumpkin
Pumpkin's picture

Your damn right the Euro is the problem.  Back in the 1940's the U.S. had to come to Europe.  They were either kicking your ass or saving your ass.  Now, many decades later, the Euro was about to displace the U.S. dollar as the reserve currency and the oil dollar.  Guess what.  That ain't going to happen.  That folks is what we are dealing with.  The Euro dies and goes to hell, and the world economy can then carry on.

Wed, 06/13/2012 - 19:41 | 2523881 ciccocicco
ciccocicco's picture

What a bunch of bollocks !!!!  Leaving the Euro will kill German bank, kill large german corporations, kill retirements account of Germans.  Why such a tragic path should be preferred over a simple haircut for all PIIGS (not even huge).  What makes you drool over the obvious future failing of all futures plans.  You are all loosers trying to get for an opportunity to start back?  Life goes on folks, and its not all dooms and destruction like it looks while reading this site.  You know, people still enjoy great sex, babys are still born, parents are happy, music still sounds good, great movies still get produced, cities (at least in Europe) are incredibly better places then they where 20 years ago.  Who gives a f..k about that number called spread.  Get a life.

Yours truly,


Wed, 06/13/2012 - 19:56 | 2523920 BurningFuld
BurningFuld's picture

Hope that isn't in cash.

All Love


Wed, 06/13/2012 - 22:19 | 2524283 ciccocicco
ciccocicco's picture

Be it cash, bond, your company, stock market, whatever, you cannot live your life taking care all the time of your wealth.  Use it, enjoy it, be productive with it, help others, but please stop worryng about this laughing matters of insignificant numbers.  Ive your life.  If it all the system comes done, well some of us did it once why shouldn't we do it again.  It will be exciting again.

This fearmongering atmosphere is killing the world, I'm Italian but I always feel so bad when I have to go there for some reason.  10 years of steady crisis status has made the people that once where among the most joyous in the world into a drepressed bunch of complaing pussy.

Young people are being convinced they have no leverege in the situation.  I call bullshit, my family business went from being huge in the 20s beginning of 30s to being seized by the facist government, most of them where deported in lagers, the business came back roaring in the sixtys but we were still driving a little Fiat 500 to go to the beach as we had debt titles form the past crisis  that stacked all togheter where probably taller than 2 meters.  Just when we where startying to enjoy our coming wealth the oil crisis and the political Italian disruption put my family on its knees.  It all went to the bank, 15 after I got a PE involved to buy it back from the bank.  The business is roaring.

Will it last?  Who cares, all the above happened in 70 years, why should I think it is supposed to be different this time.  Let me enjoy the product of my work, have pride and also let me get around with a boat and too many beautiful girls to handle.

I di not steal everything .... we go all down togheter, well that will be fun.  Should I spend all my time on how to prepare for survival?  F..k that, let me enjoy NOW. 

And you all please get you are togheter and stop posting this childish Bizchez that Bitchez that other, go do something.  You really look like a bunch of looser somebody is using for its own short trading strategy.

Its never too late, go out there and create somethig that is not there, have fun ....

Ciao a tutti, e buon vino, spaghetti, pizza and playboy for you girls.


Thu, 06/14/2012 - 00:23 | 2524573 adeptish
adeptish's picture

Best post ever...


Wed, 06/13/2012 - 19:43 | 2523883 XRAYD
XRAYD's picture


Let's face it. There is only one "solution":


A Rube "Gold"berg bond with Angela Merkel's FACE on it.


If she does not ultimately agree, it is bye.bye.bye Euro la-la-land!


Wed, 06/13/2012 - 19:47 | 2523886 reTARD
reTARD's picture

As if the collectivist entities of countries and their forced upon currencies are not big enough and bad enough, let's unionize these countries into an even bigger collective entity under the European Union and collectively force all its members under the one currency Euro and one monetary policy in which the central bank head is not elected by the people but appointed by the elites of the member states, many of which are still Kingdoms, btw. Sure, people will say that the Queen has no power... but at the end of the day why are the people still paying for her lavish lifestyle and why is she and her royal family getting a free ride and living in your nicest buildings?

Wed, 06/13/2012 - 19:49 | 2523902 tom a taxpayer
tom a taxpayer's picture

Hear, Hear Hannan!

Wed, 06/13/2012 - 19:50 | 2523907 reTARD
reTARD's picture

LOL, Hannan only got one clap. Probably was from Farage.

Wed, 06/13/2012 - 19:51 | 2523909 i-dog
i-dog's picture

Rampant deficit spending is the problem. The Euro is neither the problem nor the solution to that problem.

Wed, 06/13/2012 - 19:59 | 2523924 SeattleBruce
SeattleBruce's picture

Debt based money is the problem.  Non-debt based money is the solution that decouples politicians from being the gigilos & whores of the bankstas/crony capitalists.  Combine that with strict economic parameters - and actual stiff penalities if these are violated inadvertantly and more still fraudulently - for those that create and monitor the monetary system, and we just might have a system that could work for everyone.

Wed, 06/13/2012 - 19:55 | 2523914 Zero Govt
Zero Govt's picture

Hannan, "the Euro is the problem not the solution".

Hannan grabs the wrong end of the stick (as usual)

blaming an inanimate object (a means of exchange) for debt-spending suicide socialism is about as clever as politicians get in Britain

wake me up when Hannan blames electricity for the demise of the British car industry

Wed, 06/13/2012 - 20:24 | 2523952 Zero Govt
Zero Govt's picture

to the 2 junkers you are very welcome to join the Union Jack waving fan club of Hannan and Farrage, they're both on a roll and i enjoy their anti-EU sentiment as much as you do

but kid yourself not these are anything but politicians making speeches, pulling stunts and looking for any opportunity to wave the flag to get profile and (re)elected

there are no heros in politics, they are all zeros (parasites) and the sooner the political class are wiped from the face of the Earth the quicker humanity heals, the economy recovers, civility returns

Stop Paying Your Taxes ...don't feed the suckers

Wed, 06/13/2012 - 20:26 | 2523989 ronaldawg
ronaldawg's picture

Yeah - just like in Vietnam war - kill the politicians first, then the bankers and then the teachers - nothing could go wrong there.  We can just be a mob, looting one place to the next.

I agree on not paying your taxes though.

Thu, 06/14/2012 - 07:54 | 2524932 the tower
the tower's picture

Although I agree, when was the last time you didn't pay your taxes and not go to jail?

Only the rich manage to not pay taxes, the 99% will have to pay...

Wed, 06/13/2012 - 20:21 | 2523974 lasvegaspersona
lasvegaspersona's picture


I love a good rant and I understand the anger many must feel in the EZ now but you are right. The currency is doing EXACTLY what it was designed to do ...control inflation...and it is doing that very well. The currency can hardly be blamed for the overspending that every country did. Sure you can find entities to blame for that but we need to face a long as people demand stuff from politicians...they will get it. That means that fiat is likely with us for a long time and a well behaved currency is a remarkable thing. 

I believe the Euro will ultimately survive and be with us long after the dollar does what it must...hyperinflate. These events were set in motion from the founding of the Fed through Brenton Woods, the Nixon Shock and the latest broken budget and trade deficit. The Euro is STRUCTURALLY sound. It has gold as its #1 asset and when the dollar goes the gold will expand to fill the balance sheet. Thus will gold rise and the dollar fall. This has always been the plan. It is why the Euro was born.

Thu, 06/14/2012 - 04:48 | 2524759 the tower
the tower's picture

Finally some common sense on this site...

Wed, 06/13/2012 - 19:55 | 2523915 FeralSerf
FeralSerf's picture


"a transfusion, taking blood from one arm and pumping it into the other arm" noting that unfortunately, there is also a hole in the tube.

The parasites are working at a feverish pace to make that hole even bigger as we speak.   That sucking sound?  It's their life savings and their children's freedom.

"The more we do to you, the less you seem to believe we are doing it." -- Dr. Josef Mengele

Wed, 06/13/2012 - 20:01 | 2523928 1000924014093
1000924014093's picture

Awesome sig. lol.

Wed, 06/13/2012 - 20:01 | 2523927 newengland
newengland's picture

Hannan and Farage - delivering the truth to the sneaky, money grubbing, useless EUSSR who want a cosy Club of technocrats, the New Feudalists, the New Fascists... paid for by others, and the EUSSR Club members don't care how much Europe burns for their conceited failed fiat money experiment.

Wed, 06/13/2012 - 20:02 | 2523930 PLove
PLove's picture

I'm sipping in my backyard watching chemtrials vaccinate the neighborhood.

Where does one report adverse reactions on trees?


Wed, 06/13/2012 - 20:18 | 2523969 blindman
blindman's picture

boom and bang. it is the money system/s that is the
problem and enabler of the sick and violent approach
to conflict resolution. end it and solve many problems
and injustices.
or, go on and leave a legacy of doom and species extinction, that works out just fine for the greater
system but it is my opinion that the life force itself
will not permit it, so to speak. i have been meaning
to research the evolution of light receptive anatomical
organs, eyes for one. i remember there have been a number of
manifest organic structures that have been identified as
light receptive and significant in the furtherance of the foundational base of further life forms and function.
coal comes to mind, and oil.
there is probably a book on the subject, if not, there will be, count on it. eyes. there be the key to
speciation on the chain, that and skin. tegument/cover/
encasement, encapsulation.
google eyes in evolution, evolution of eyes,
evolution of light receptive organs for more
interesting ....
boom and bang. off the chain ongoing.
there is a meaning to the message and the messenger is
the light itself. who will receive the message?
beats me.

Wed, 06/13/2012 - 20:45 | 2524027 shovelhead
shovelhead's picture

Better lay off the bath salts...

I don't want to see you chewing faces.

Wed, 06/13/2012 - 21:15 | 2524080 blindman
blindman's picture

my dearest shovel head,
not to worry, all the faces will
be chewed
before we leave this realm,
this is promised; the worms.
bath salt, what is that?
peace be with us, upon us, about us,
us. but... that depends on us.
and there ya' go. doubt arises as we have
not communed or confirmed any commitment to
the metaphysical power and identity composed
and comprised in the word as stated "non-violence".
we will see.

Wed, 06/13/2012 - 20:25 | 2523986 Billy Shears
Billy Shears's picture

Bravo! Well said my good man. Oh, and didn't I read here on ZH that GB total debt to GDP is in the area of 900%?

Just like Johnny Rotten sang: "there is no future and Englands dreaming."

Wed, 06/13/2012 - 20:33 | 2524002 ronaldawg
ronaldawg's picture

Actually you have to keep it in context:

God save the queen
She ain't no human being
There is no future
In England's dreaming

Don't be told what you want
Don't be told what you need
There's no future, no future,
No future for you

I actually believed this in 1980 - slam dancing around Peace Park in Hiroshima....

Wed, 06/13/2012 - 20:51 | 2524039 blindman
blindman's picture

there is a great future, .. just ...
not in the current paradigm and money
system. energetically the youth hold
all the cards and all the keys so long
as they do not become moronified, zombified,
addicted, indebted, autistified, supplicant or retarded.
it is, or has become, beyond belief that this
amazing energetic world has become engulfed
or encased in the description of futility and
depression; what a sad, sorry and stupid
overlay of dynamic equilibrium , this description,
the vampires , demons and flesh eaters be damned.

Wed, 06/13/2012 - 20:38 | 2524012 AUD
AUD's picture

"there is no future and Englands dreaming."

That's why Hannan & Farage are in the EUROPEAN parliament, grabbing fistfuls of Euros.

Thu, 06/14/2012 - 02:12 | 2524671 the tower
the tower's picture

They sure get paid better in the EU parliament...

The banks are the problem, with the City, Wall Street and the FED at the front.

This is the first war fought without weapons, that is, if you count debt as not being a weapon.

Well guess what. The people will win. Again. Because if there's one thing Europeans are good at it's rebuilding after some kind of megalomaniac entity destroyed everything...

This will be a first for the Americans and the Brits though, focus on that for a change.

The Brits should put up or shut up. 

Because let's face it, their fate is in the hands of Europe. Again. Interesting times, no?

Wed, 06/13/2012 - 21:07 | 2524063 LMAOLORI
LMAOLORI's picture

Socialising bank debt will plunge Europe into a deeper crisis

Wed, 06/13/2012 - 23:47 | 2524510 icanhasbailout
icanhasbailout's picture

The Euro is not the problem, it's just a symptom of the problem.


The problem is people who can't control themselves and thus have an overwhelming compensating desire to control others. The ones who can control themselves the least desire to control the greatest number of others. This group is known as "central planners"; in the future they will be known as "the folks on the lampposts".

Thu, 06/14/2012 - 01:38 | 2524639 Reptil
Reptil's picture

All of this is a setup. Follow the money/debt.

Thu, 06/14/2012 - 01:42 | 2524644 localpacific
localpacific's picture

Well also when you look at the Euro and other currencies it is important to factor in Short TermTechnical Analysis

Thu, 06/14/2012 - 02:20 | 2524678 dunce
dunce's picture

They sit quitely and politely while these guys tell them the unvarnished truth then ignore everything that was said and blunder on repeating the same errors all over again. There is no dictator there but that parliment is still a tyranny.

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