Harry Potter, Twilight, And The EU

Tyler Durden's picture

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
oogs66's picture

A French downgrade would be sooo sweet :)

French Frog's picture

I can't wait until S&P opens its mouth...

Somehow i don't think that S&P will be as bearish with their new ratings as the 'logic' highlighted in the article above demands: after all we have a Santa's rally to look after so that everybody's year-end figures can at least look half decent;

Would they really dare to spoil xmas?

oogs66's picture

it would be nice!  but you are probably right, have to give more time for bad news

no life's picture

.. 'cept for in France, they don't call it a downgrade..

Bagger's picture

France are always there when they need us.

Chris Jusset's picture

"The next Summit in March which really will be the grand finale."


So this bullshit will continue for another 4 months?  My God, the Eurozone has been teetering on the edge for most of the year ... just let the house-of-cards collapse already.


strannick's picture

Austerity is a long long road, and the economy is a dented can from all the kicking

knukles's picture

Beware the wrath of a shrinking Snarko.
Festering narcississitic dwarf emboldened by Napoleonic Complex accuses British acroos Channel of Torpedoing Europe Again, Part II Redux.
Time for hope and change if there ever was one.

(Betcha he's got more than one penis pump.)

WhiteNight123129's picture

Sarko is the worst President we have ever had in France. This guy is dangerous. We need to kick him out at the next elections in France in May. The problem is that the alternatives are sinister, only dismal choices. Looks like we are going to need a full blown out crisis for a "Clemenceau" or "De Gaulle" to emerge from that rubble. The faster we go back to the French Franc and implement what DE GAULLE was asking for back in 1965 which a GOLD STANDARD the better. We will be first in the domino, US will be the last, I´d rather move over this unbearable fiat era as fast as possible rather than have some sort of Chinese torture (nothing against the Chinese, just against the torture...).

As for the UK, I thank them to torpedo the EURO. I think though that the UK is doing something that is somewhat puzzling for a country which is knee deep in Fiat. There is a massive exposure of the UK to Spain (BIS reports). Also if the UK blows up because their exposure makes their system more fragile, ok they print. But the end game is what?, a peg of hte currency to Gold to stablize inflation or do a deflation. But in their case "what GOLD?", the UK has sold almost all of its Gold. Finally I looks to me like the UK is looking at the Geo political situation with a 50 years old read of the situation.

nmewn's picture

Correct me if I'm wrong in this (I take it you are from France) but isn't this agreement, such as it is, a direct assault on every EU member nations sovereignty?

Isn't there going to be an unelected, therefore unaccountable "group", telling the individual nations what is in the best interest of all?

How are they to be chosen and by whom?

WhiteNight123129's picture

Yes I am from France. You are absolutely right, the only way a currency union works (as shown in two cases (Prussia pre 1871) and the American Colonies) is if the countries end up merging. There is clearly a loss of sovereignty and I think that this is why some politicians will resist it because it takes away their power in a sense. If the Countries merge, Sarko become President of what? The Paris region of the EU? I think that this compact as no other purpose than to try make the "thing" a bit more tight before Greece and Portugal exit. Given BIS exposure of Spain to Portugal, that would be downgrades and more loses for French, British and German banks.

I think that is the only purpose of this tentative of agreement, that is try to make the exit of Greece and Portugal the least ugly as possible. Why is why the move from the UK is so puzzling given their very large exposure to Spain. Ok maybe the Parliament of the UK is that heroic and is willing to camp on their independence and ability to misregulate their financial industry on their own. The way I read it is that preventing this EU "compact" makes the fall of Spain and the link to UK banks more probable and faster.




nmewn's picture

"There is clearly a loss of sovereignty and I think that this is why some politicians will resist it because it takes away their power in a sense. If the Countries merge, Sarko become President of what?"

Well put. The governor of the province of France?...lol.

Which "is why the move from the UK is so puzzling given their very large exposure to Spain. Ok maybe the Parliament of the UK is that heroic and is willing to camp on their independence and ability to misregulate their financial industry on their own."

I think that is the most likely the case. In my view, as it should be. Individuals in their own nations should manage their own affairs...for good or ill.

Here, with me, the issue is sovereignty.

Thanks for the response.

Ghordius's picture

"the only way a currency union works ... is if the countries end up merging."

This is about the only hogwash where US, UK and France's pundits agree fully, each for their reasons...

The key for a currency union without "mergers" are stable, functioning sovereign debt markets - which is what our dear rating agencies nearly destroyed.

NYC and the City of London loved the biz with lending to Greece so much that the Squid had to help with their books, already forgotten?

This is now a race about when the local financial industries get "regulated" properly - before or after a further deterioration at global level.

The "continental approach" is not palatable for the City, that's all...

knukles's picture

Absolutely no mystery about the UK's actions.

The City of London remains sancrosanct.  The Anglo-American Banking Cartels' locus remains intact.
Europe falls to the NWO to be goverened and financed via the City and it's minions on Wall Street, et.al.

All's well, proceeding as planned.

nmewn's picture

I understand...thats where we all should come in and stop it.

Monarchs...and guys with ties who aspire to be, are so eighteenth century ;-)

LeonardoFibonacci's picture

Let me see. Global financial system about to break down, China looking at a hard landing, EU Euro on the verge of fracturing, US economy scraping the bottom of the pool, US about to implode if Europe crashes, prospects of printing USD galore.....and some say....sell your gold and silver??
One thing is certain - nobody knows how this is going to end up, but it wont be good.
This is one gun fight I won't be taking a knife to.

Rama V's picture

I like the muggles that Louis Armstrong used to smoke.

danielvisionvictory@yahoo.com's picture



If Silver Goes Down ALL HELL will Break Loose



LookingWithAmazement's picture

Unfortunately, silver is not mined in the US only. Please google on "silver glut" and you will find some disturbing articles.


It's always daylight somewhere. 

Ancona's picture

They will do whatever they have to to avoid banker losses.

el Gallinazo's picture


I found Tchir's article disappointing.  After the AAA toxic waste MBS, who takes the corrupt and idiot big three credit raters seriously?  France lost its AAA long ago.  It is also disappointing as he focuses on these ratings and the "austerity" packages without mentioning that the austerity and bailouts are just pass throughs to the core banks and not designed to help the 99.99%.  Rather to turn them into Mississippi sharecroppers.

"I find it hard to believe that the EU politicians will allow the banks to receive all of this without some form of payback."

Why?  How have the USA politicians  forced the TBTF to reform for their larceny?  Are the eurozone politicians less paid whores to their megabanks?

Tchir is much too MSM for my taste. 


oogs66's picture

Sadly too many people care about what the agencies say. The weakest link has too much power. Stupid but true but also why places like pimco outperform year after year because they don't care about the dumb agencies.

kito's picture

im starting to think merkozy relishes the downgrades to expedite the implementation of their iron grip

smore's picture

"To adapt Maynard Keynes, in the long term, the whole euro project is dead."  Or possibly in the short term!  Nice snarky article from the Telegraph:


s2man's picture

Nice avatar, smore.  Too bad I block animated av's, as I find them distracting.  At least your's is distracting in a pleasant way. :-)

knukles's picture

If you've blocked them how come you see this one?

el Gallinazo's picture

Bet he unblocked it temporarily because the still was so intriguing :-)

spanish inquisition's picture

Twilight is the rehypothication of Harry Potter. Formulated and without substance. An empty 2 part ending, because they read they should have a 2 part ending to make more money rather than the story demands it.

Pretty much where the EU is now, setting up an empty 2 part flop with hopes that more money spent on marketing will win the day.

Mr Lennon Hendrix's picture

i haven't seen twilight (because i dont want a seizure) but Potter and the EU Saga are horrible stories.  bad acting, no plot, and they go on without end

Eally Ucked's picture

Sorry but I still don't understand where ECB gets their money from to lend unlimited amounts to the banks? Do they print, do they have some big stash of cash hidden somewhere or just aliens decided to donate some euros to ECB? Could somebody explain it to me? And lets forget those stupid ratings where almost all countries are on the verge of default, including Germany, and still maintain top marks or close to them. Maybe consumer rating agencies should help S&P, Moodys and Fitch establish some better models of rating which they apply so succcessfully to us.

Mr Lennon Hendrix's picture

I'll admit it is all a little fuzzy to me too.  I assume all CBs will use their discount windows to max out credit.  maybe the Fed increases its swapd too

Eally Ucked's picture

I understand that FED is printing like there is no tomorrow but its "swap" policy implies that they getting something for their freshly minted $ and it means euros, so where those euros are coming from.

Mr Lennon Hendrix's picture

i think that Euro banks will get unlimited funding from US Baanks that get unlimited funding from the Fed's discount window and then the Euro banks will buy Euro debt.  The Euro Zone will then have cash to make a swap with to the Fed, and that should have the appearance of tying things up while the Fiat Ponzi continues to crash and burn like ferraris in japan.

williambanzai7's picture

You noticed that Ferrari story. ;-) in Japan spoiled rich kids crash Ferraris. In Europe spoiled bankers and politicians crash countries and banks.

LongBallsShortBrains's picture

"....so where those euros are coming from?"

New short positions in the €.

oogs66's picture

between re-hypothecation and sterilization i think a lot is being hidden

AbelCatalyst's picture

If TPTB could just come up with a few more big scary words for cover they could kick this can down the road forever!! I recommend they talk to the pharmaceutical companies - big complex words are right in their wheelhouse!

How about hypomoneyfractalization? As in accelerating money creation via fractal lending. It would take the masses years to figure out what that actually means and it would provide great cover. More complexity means more can kicking - or compexicaneticization of faux solutions!!

booboo's picture

But then they would have to list all of the side effects like a speed talker:

"hypomoneyfractalization may cause bleeding money out of the ass, mouth, nose, throat, vaporized 401k,retirement, loss of vision, marriage, kids, life, conflict, skirmish, war, total inhilation of entire swaths of humans, starvation, deprevation, measles mumps, smallpox, hangings, lootings, shooting, stabbings, shiting, sharting, farting, feeling hopeless, dopeless, loss of self esteem, mood swings, visions of swinging bankers and politicians, and itching.  


my puppy for prez's picture

OMG....that was THE funniest post I have ever read....HANDS DOWN!

TheFourthStooge-ing's picture

Eally Ucked asked:

Sorry but I still don't understand where ECB gets their money from to lend unlimited amounts to the banks? Do they print, do they have some big stash of cash hidden somewhere or just aliens decided to donate some euros to ECB? Could somebody explain it to me?

They have an enchanted well that gushes liquid clownbux. The liquid clownbux are created deep beneath the Earth's surface by magic trolls, who make it from abiotic oil.


doggings's picture

yes exactly, they get it from the Fed, who get it from the aliens


knukles's picture

That's the whole point.
They lend their own money to themselves and count it again as good funds.

The Whole Point.

Engaging in a Ponzi Scheme with yourself.

el Gallinazo's picture

I'll bet Charles Ponzi had hairy palms  At least, that's what the nuns said would happen.  Or was it going blind?.

ebworthen's picture

Retail outflows have continued unabated this Fall; however, governments have continued the bloodletting by funneling more and more of the public's money into the black hole of the banks hellish maws.


constantine's picture

Wish we could just skip all of this nonsense and fastforward to the part where everybody realizes that everybody is bankrupt and that all of the fancy Ivy-League economics terms in the world can't hide the fact that we have designed unproductive consumer economies.  In the end, whether deflation or inflation, it is simple.  You can't consume more than you produce; especially in a world of dwindling resources.

Ok, really just testing to see if my new tin foil hat wearing alien avatar is working; thanks.

Nobody special's picture

Perhaps the anti-depressants and floride in the water have rotted brains enough for this thin veil to suffice, but I doubt it. I'm not sure we'll see March arrive with the stability we have today. Not that this is stability. March will only be a let down of epic proportions.

Someone should make a montage of the EU leaders brave statements and ineptitude. It would really put reality in check. And it would a fun way to reveal the farce for what it is.

el Gallinazo's picture


Well, shit, no economic system can consume more than it can produce.  That's based on the law of the conservation of mass and energy.  The question is how are you gonna pay for it.

"I'll gladly pay you Tuesday for a hamburger today"

J. Wellington Wimpy