As Hope For EFSF Solution Vanishes, Europe Comes Crawling To Uncle Sam

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Mon, 10/24/2011 - 22:42 | 1806909 J 457
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Let it all fail.  No more bailouts.  Its the only way to recovery.

Mon, 10/24/2011 - 22:45 | 1806921 LetThemEatRand
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The banksters don't want recovery for the masses.  They want more free money, and they will get it.  Everything else is just theater.  

Mon, 10/24/2011 - 22:58 | 1806958 Ahmeexnal
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China already told the eurotards they will only take gold -in advance- for a 'bailout'.

 

Mon, 10/24/2011 - 23:18 | 1807011 Triggernometry
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But China will take more than gold.  As the recent attempts at establishing footholds in Europe show, China is looking to export its low wage workers as well as its low cost products.  Think of a reverse case of Macau or Hong Kong; its easy to see China dumping more cash in the hole just to trade in the debt for a 200 year lease on prime European mercantile real estate.  I wouldn't call it an attempt at a colony just yet, more like a forward operating base.  The problem facing China is one of demographics: its population continues to swell, particularly males(no pun intended).  I think China would prefer many things to being torn apart by a burgeoning restless male population; providing them social opportunities halfway around the world by setting up shop in Europe simply kills too many birds with too few stones.

Tue, 10/25/2011 - 01:04 | 1807155 strannick
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Europe crawling to Uncle Sam for another debt fix? Like he has any cash. They are like two salivating junkies rolling around wrestling for a monetary crackpipe that fell and smashed years ago. Then in futile frenzied addict-addled desperation they'll run and mug the old bag-lady that is the IMF

"The ponzi that is the global financial system is doomed to crash, unless there is a benevolent federation of planets with a bailout willing to come to our aid"

Tue, 10/25/2011 - 02:16 | 1807218 AldousHuxley
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Did Europe go to Fed or the White House, because that federation is already here and his name is Obama....presient of USSA

 

Shilling Calls New Obama Housing Plan `Another Bailout'

http://www.washingtonpost.com/business/shilling-calls-new-obama-housing-...

 

Bailout IS NOT Capitalism

Bailout + bank exec bonuses is what Professor Rubini said " socialism for the rich, the well-connected and Wall Street (ie, where profits are privatised and losses are socialised"

 

Breaking up too-big-to-fail banks and oligarchic trusts!

Tue, 10/25/2011 - 02:53 | 1807237 Michael
Michael's picture

Who cares where the money for the bail-outs comes from, so long as the debt keeps piling up higher and higher. The explosion will be all that much more spectacular in the end. It's not like we can defuse the self destruct mechanism at this point and it's not like the people are ever ever going to be able to pay the debt back, so why not go full bore? Some of us on ZH should put our heads together and figure out ways the sovereigns and people can pile up the most debt they possibly can.

Think positive like me.

Tue, 10/25/2011 - 03:14 | 1807281 Michael
Michael's picture

Do you realize if we had a gold or commodities backed currency the price of tuition, medical care, and just about anything else would cost about the same as it does today?

You could actually save money today and the value of it would buy a new car, or pay for a child's tuition with the money you saved ten years earlier.

Wouldn't that be a hoot?

Tue, 10/25/2011 - 03:49 | 1807306 Michael
Tue, 10/25/2011 - 09:04 | 1807687 DavidJ
DavidJ's picture

The smoking part or Cain's odd grin at the end?

Tue, 10/25/2011 - 06:12 | 1807367 Raging Debate
Raging Debate's picture

That was my thought on the HUD program Tyler posted yesterday. An ability to use some crumbs is useful and not as a weapon but because exactly what you just said. This system can't be saved now. It requires cofidence and from en evolutionary stand-point we reached the 3d paradigm tipping point.

This time is different and the analogies of 7 B people all scrambling for the Promised Land of a 4d world apply. Too bad there is no Moses to command ordered decentralization of the Golden Calf to minimize casualties. Fear of entering then as in now will either leave you wandering for life in the desert or killed off from joining the titans armies of East and West. The good news is Gen X and younger get to live in something better. The bad news is those with fear about entering remind me of a drowning man in the movie Titanic. Most will live through, fact theoretically nearly all but fear is what will really cause 35% casualties.

Those without fear must lead. And if you lead you best start educating yourself on history, what the concepts of good and evil mean discontinue shady practices. Can we be honest here in the West? A lot of us endorsed adopted the shady behavior because well we were selfish and didn't care enough to stop externalizing. But now we see the result of the pryamid and can now build box shape management paradigm.

The separation of sheep and goats has arrived and no there never was a magic wand or spirit marking people. We are all choosing amd it can be seen when your interacting with other people. Capital will now flow to where it is best served and the dishonest cycle people lingering on will have no part soon enough. Take care all of you, reader and commentator alike. The last decade was humbling. I can no longer hate any person of any skin color as I was told in the past I must.

Be willing to risk it all for you family, your neighbor ANY individual of any race and creed that refuses to rob and steal to keep the party going. That is not only wholesome and heroic but it will up your odds greatly of survival.

I like the marketing of 99% of OWS but the reality is its 51/49. Like the end of a any Democracy (yes I know we are not a Republic anymore).
These are the expressive numbers of those that are not providing full value.

A tiny percent are criminals paying a check to the rest and this model has also failed. Don't be too harsh when you get a listening ear from those lead astray.

Remember, your shit still stinks too it is just that we can all be in the same house because the smell is localized to the bathroom as it should be. Localised as in we know where it and can easily dispose of it at will rather than it right in our community house living room ceiling where it is literally poisoning all of us and requires a ladder and huge job of even reaching it.

Tue, 10/25/2011 - 05:46 | 1807358 Raging Debate
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The Bear will absorb the Pig. Or stated in more secular terms Russia will acquire the PIIGs debt.

Mon, 10/24/2011 - 23:46 | 1807056 Unprepared
Unprepared's picture

What are you complaining about?

Fuck the EFSF. As it turns out, UST is the new SPV to make China bail out Europe.

The core issue in Europe is no more than a lack in marketing expertise.

What better plan than to promise that the next brick you lay will be used to insure any decomposition losses on the already piled up cluster of shit. While Europe may be good at designing shit, America has an undeniable edge at selling it for crap. And China is all too happy to finance all of that in exchange of those IP's. If this isn't the perfect world of comparative advantage world David Ricardo has been dreaming of ...

And the even better news is that you can still sell your pile of shit and eat it too.

Tue, 10/25/2011 - 02:34 | 1807244 AldousHuxley
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Switzerland says no more German refugees from economic raping of their young.

 

Germans are just asking for Hitler to come out.

 

 

Tue, 10/25/2011 - 02:49 | 1807257 ConfederateH
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Switzerland just voted and now we have 2 green parties!  The watermellons will save us.  Switzerland is busy chasing that green unicorn to the top of candy mountain where there are only renewables and social justice.  Who cares about Germans when the world is about to suffocate on CO2.

Tue, 10/25/2011 - 03:00 | 1807264 AldousHuxley
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green party has hippie activists but also has corporate interests supporting them namely the hospitality and travel industry and manufacturer of green tech.

 

But who the heck is going to buy or visit Switzerland when their FX is so adverse?

 

they are losing blood money from broken banking secrecy laws and competition from carribbean cocaine drug money lending ops.

 

 

Tue, 10/25/2011 - 06:33 | 1807376 Raging Debate
Raging Debate's picture

The benefits David Ricardo speaks of are not enough capital at the bottom to use a pyramid formation and lever back up on a global basis. I certainly encourage those with heart and skill near the bottom of the pyramid go after low hanging fruit for funding sources.

If Mayer Rothschild had built his model with correct intent of benefit to mankind instead of conquest, it might have made it an easy transition from 3d to 4d. Nope, mankind made the choice to do it the hard way, as usual. So now we all get those Revelation-esque consequences of our actions until each section of the pyramid is shamed, feels humiliated and naked but finally humble. I wish you and your family the best in seeing the other side.

Tue, 10/25/2011 - 04:03 | 1807314 e-recep
e-recep's picture

I wonder how happy the Chinese get with all this hair-cut talk?

Mon, 10/24/2011 - 23:01 | 1806966 rocker
rocker's picture

 Societe Gernerale's Kit Juckes,(Head of Foreign Exchange Refiance),

 today on Bloomberg said U.S. will pay to bail Europe out. Up to 2 Trillion.

Munger today said they need a bazooka, not a pea shooter.

Can you fucking believe it. The gall these bastards have with all that is going on.

Bernanke's Bankster Cartel lives on. They are now demanding U.S. Dollars. 

Mon, 10/24/2011 - 23:20 | 1807018 traderjoe
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They've killed millions. Starved billions. They will stop at nothing.

Tue, 10/25/2011 - 02:38 | 1807247 AldousHuxley
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arrogance of having money provided by socialism has made them blind to the mob.

Mon, 10/24/2011 - 23:44 | 1807061 jal
jal's picture

Wake up man....

The US does not have any money ...

It borrows money from China ...

Then lends it to the IMF

jal

Tue, 10/25/2011 - 03:07 | 1807272 AldousHuxley
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shhh... let the Chinese about to find it out for themselves....noob communists.

 

1st RULE of capitalism: You do not talk about PONZI CLUB.

2nd RULE of capitalism: You DO NOT talk about PONZI CLUB.

3rd RULE of capitalism: Borrow money from communists.

4th RULE of capitalism: Socialize losses.

 

 

Tue, 10/25/2011 - 06:56 | 1807403 daily bread
daily bread's picture

I like this.  Let China fund a new increment in US debt of 2 trillion.  The US passes this along to IMF, so that Europe can have "convincing firepower" to bail out the French banks.  Then the US reneges on its foreign debt, and China is left holding the bag.  Neat!

Tue, 10/25/2011 - 07:57 | 1807507 Mentaliusanything
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After the 4th rule FAILS because society is drained of all avaliable coin.

We have the Fifth Rule.

"when you have nothing left to lose - you lose it"

Mon, 10/24/2011 - 23:25 | 1807027 pauhana
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Agreed!  I nearly split a gut when I read:  "Another is its (the IMF's) financial assistance usually comes with tough conditions and regular reviews."  Similar to those attached to the release of the next tranche to Greece, we suppose?

Tue, 10/25/2011 - 01:08 | 1807140 The Big Ching-aso
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What more do they want?   Give them our right testicle which should mate up nicely with the left one they already have?

Mon, 10/24/2011 - 22:55 | 1806953 DoChenRollingBearing
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@ J 457

Of course you are right.  But, it will not happen until they have destroyed all of our economies.   It amazes me to no end how they have all run around in circles, waving their hands while accomplishing squat.

Europe!  Whither thou goest, we will go!

Mon, 10/24/2011 - 23:07 | 1806983 knukles
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As a long term ex-pat having had to put up with innumerable, immemorial, bullshit preaching by those fucking Frenchmen I say let them perish in their own juices.... Fucking Poach and Simmer!  (See, I was nice.  I didn't even wish them perish as a Double Whopper Le Grande avec Sauce Especialle.  I'm a civil bloke at heart.) 
But then again, a much more rational approach is to lay the personal biases aside (motherfuckers) and just place the discussion on a more intellectual, spiritual plane.  Bailouts are bad.  All bailouts are bad.  Any more bailouts are bad.  Just as all the past bailouts are bad.  More wrongs do not make a right. so it's time to stop all bailouts.  Just so happens its at Frenchie's door, but that has fuck all to do with it.
Poach away.

Actually, as an American taxpayer, I've fuck all had it with money transfers to bankers.  Anywhere.  This shit has to stop.  I mean my tax dollars are already building fucking electric cars in Finland for fucks sake and enough is enough.  I mean, at least build the shit in East Buttfuck Africa where labor costs are low.  Finland!  Fuck all!

Mon, 10/24/2011 - 23:21 | 1807012 knukles
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These cocksuckers have lived off of America since the 40's and it's time they fucking bailed us out.  This via the IMF double secret probation shit has got to stop.
And don't fucking forget y'all, it was about a year ago the the US (we the people Aaaaarggrggrgrgh) agreed to up our contribution/share of/to the IMF and committed additional lines of capital through the Treasury/Fed whoeverthefuck.
E-Fucking-Nuff

It may sound xenophobic (and it is, hah!) but paying Jamie Dimon is one fucking bad enough thing, paying some arrogant Frog is another and way the fuck out of line.

Mon, 10/24/2011 - 23:35 | 1807047 wisefool
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Have faith my freind. Ron Paul is the Eisenhower for this particular cluster. If Americans cant see it ... then they deserve $3 Trillion pillow fights bewteen child dictators in countries that Europe has not invented yet.

Mon, 10/24/2011 - 23:46 | 1807062 knukles
knukles's picture

Ah, I too am a Paul supporter.  If we wind up with any of the other front runners, we are doomed.  Every single one of them is more of the same.

Tue, 10/25/2011 - 00:12 | 1807101 wisefool
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As far as I can tell, the only cartgraphers -- for profit -- are Euroe based, along with our russian freinds.

Everytime a map changes, the printing presses heave like a football cheerleaders boosom.

My Solution is simple. Put a guy like Ron Paul in charge of the USA and you might see alot more innovation and a lot fewer brown people killed.

Tue, 10/25/2011 - 00:22 | 1807110 i-dog
i-dog's picture

"Ron Paul is the Eisenhower"

Careful what you wish for! The more I look into it, the more evidence I find that Eisenhower was right on the inside with the globalists.

Tue, 10/25/2011 - 03:21 | 1807285 ConfederateH
ConfederateH's picture

These cocksuckers have lived off of America since the 40's and it's time they fucking bailed us out.

de Gaulle had it right, America has been living high on the hog with it's exhoritant privilege since the '40s, that is why Nixon had to come off of the gold standard.  This is why America has to bail out europe, because they have the printing press for the worlds base money.  This is why the rest of the world is so pissed off at america and why they want sdr's:  so that they can also benefit from the money printing instead of just the US and US banks.  So the solution for the US is to spread it around so that the rest of the world doesn't unite and take the exhorbitant privilege away.  By printing and bailing out european banks, Geinter buys their subservience for a few more years so that the fed can maintain control of the worlds money tree.

Tue, 10/25/2011 - 06:49 | 1807396 barroter
barroter's picture

I had similar thoughts. Since when is being in debt to someone else, "freedom?"

Tue, 10/25/2011 - 06:58 | 1807409 Raging Debate
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This is incorrect. China becoming the world reserve currency was the plan and it will be launched in late 2013, maybe 2014. There were accidental miscalculations and purposeful ones made for greed and power sake from both American and Chinese leadership positions. Trade should have been rebalanced in 2004/2005 to set a less shocking currency revaluation schedule. Anyways, interbank lending shows the patterns of the Chinese reserve linking back to SDR's but this isn't conspiracy spy shit anyways. I read all positions and media from all groups and have for several years. The only 'secret' was the intent of Chinese reserve was that it was a feature and not a bug.

Frankly, I would be fine with all of it if:

1) All countries currencies floated freely, no pegs.

2) The East had similar general legal framework based on a value-system even if it was Buddism. The values of State are not acceptable because man strives to perform on solid concepts. Sure we fail, but by purposely mandraking East the West guaranteed global lawlessness.

Now after the Chinese/SDR peg fizzles and pops I believe major conflict will occur in 2015 in Korea, spread into the Sea of Japan. The East will confiscate all investments and the West will respond. That indeed will be currency war,trade war and physical war.

Tue, 10/25/2011 - 08:10 | 1807530 Mentaliusanything
Mentaliusanything's picture

Fuck knukles - you sound a tad pissed off.

Its about the US see - once you print they think you just can print them a bailout. Bad Benny showed them Trillions just don't matter.

Its the DEBT - Stupid (or Beatches) Its the DEBT like a millstone tied to all of our necks. one goes down we all drown.

seligere (French verb - chose/ cull/ separate

Mon, 10/24/2011 - 23:04 | 1806975 fonestar
fonestar's picture

Let it all fail and let each man be paid in full!  I have never bought into the theory of collective guilt before but this kulture is more than just financially bankrupt.  I have sought council with the dead and they advise me so.  I am just glad I am not located near a major urban center during this deleveraging.

 

 

Tue, 10/25/2011 - 01:18 | 1807159 The Big Ching-aso
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Somewhat tangent and poignant that this crossed my mind.       A past ZH article by none other than RC Whalen, as quoted.....

"The operational and financial reality of insolvency can only be put off for so long.  Or to refer to the immortal words of Joaquin “el chapo” Guzman, spoken after the mistaken 1993 killing of Cardinal Posadas at the Guadalajara airport:"

"Esto se va a poner de la chingada."

http://www.zerohedge.com/article/sanders-polynomial-or-why-%E2%80%9Cesto-se-va-poner-de-la-chingada%E2%80%9D

 

 

Tue, 10/25/2011 - 10:49 | 1808195 Let them all fail
Let them all fail's picture

let them all fail?  Psh...terrible idea...

Mon, 10/24/2011 - 22:47 | 1806918 Divided States ...
Divided States of America's picture

Why these fuckin phony bureaucrats keep using the economy as their trump card in keeping their powers intact. I dont fuckin care about the economy anymore, nor the global economy or whether we go into a recession, depression or back to the Medieval ages. I just want sanity and justice to prevail in this world, its been too long that this shit has gone on.

Mon, 10/24/2011 - 23:09 | 1806995 I am a Man I am...
I am a Man I am Forty's picture

"I just want sanity and justice to prevail in this world" - This would be so nice, sanity and justice, people doing the right thing, thinking logically, using reason, punishing the bad guys, the thieves and con artists that are our leaders and bankers.  You gotta have a lot of crooked, dumb people fucking up left and right for it to get this bad.  Our federal government has become a den of lying thieves.  The big financial players are going to drag the entire world down with them.  Pathetic.

Mon, 10/24/2011 - 23:29 | 1807033 traderjoe
traderjoe's picture

More people benefit from the ponzi than not - at least in the short-term. Tue gov has done an exceptional job at attaching people to their benefit's. Just threaten people not to get their ss.

Lots of sheep will defend the wolves.

Tue, 10/25/2011 - 00:10 | 1807096 FeralSerf
FeralSerf's picture

Those wolves will promise to not eat those sheep.

Not all wolves keep their promises.

Sheep are not very smart.

Mon, 10/24/2011 - 23:31 | 1807040 Caviar Emptor
Caviar Emptor's picture

@ Divided Sates : I just want sanity and justice to prevail in this world

You mean let the bullshitters lose and the righteous people win? Nahh, surely you must be joking....

Tue, 10/25/2011 - 06:07 | 1807365 Zero Govt
Zero Govt's picture

i'd settle for just letting the bankrupt cunts (bankers and politicians) go to the wall.. truth and bullshit are effects of the cause (core problems) which is too much spending, too much debt, too much leveraged high risk (gambling) and too much Govt (the institution/instrument of wealth destruction)

easiest way for each of us to effect this change is simple: Stop Paying Your Taxes (feeding Govt)

Tue, 10/25/2011 - 06:56 | 1807402 Ace Ventura
Ace Ventura's picture

Awesome. Now tell us how that's possible in 2011 USSA. Last I checked there wasn't an 'opt out of taxes' check box on my pay stub.

May want to read up on Ed & Elaine Brown, and Sherry Jackson.

Mon, 10/24/2011 - 22:45 | 1806920 Stack Trace
Stack Trace's picture

We can only hope it will be thrilling. Time for a reset. Bankers to boxes..as in their new address along-side millions of others.

Mon, 10/24/2011 - 22:46 | 1806922 wisefool
wisefool's picture

Ohh we will bail them out. But we need a new rubrick. Or we will enforce 999 on them.

I mean seriously, other than CERN, what has a euroe done for you lately?

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