How Europe Has Evolved From A Democracy To A Bankocracy And Why Austerity Will Lead To Chaos

Tyler Durden's picture




 

In one of the clearest (and most optically pleasing) discussions of recent months, David McWiliams (of Punk Economics) succinctly explains how Europe has evolved from a democracy to a bankocracy, the implications of which lead to austerity for the people and a Franco-German imposition (the 'fiscal compact') that can only lead to social unrest and chaos. In this brief (and expertly illustrated) video, the Irish economist clarifies Europe's 'dirty little secret' where economic policy is being run almost exclusively for the banks which, as we see in Greece and Ireland, means the political elite are becoming more and more detached from the people. The terror of the r-word (referendum) looms large as McWilliams analogizes the two ways out of a debt crisis (squeeze the debtor or forgive the debtor) with the catholic and protestant perspectives on sin and forgiveness. While falling short of calling for governments to go full-Keynesian (everyone knows you never go full-Keynesian), he (focusing on the problems of the current hopeful solution) summarizes the fiscal union as envisaged by France and Germany (which actually penalizes countries that are in trouble, rather than help them) as not a friendly-union but a vindictive strait-jacket put in place to help banks, not countries. It comes as no surprise to him that the price of Gold (and Bunds) is firm as the 'example' that Greece is likely to set (or face extreme social upheaval) will domino-like stumble across the other troubled nations and as he points "we have been warned". Our view remains that austerity works if countries manage to cut expenses while keeping a balance. Alas, the balance is out of skew due to 30 years of runaway full-Keynesianism, which leads indeed to the problems that McWilliams so well espouses.

 

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Sat, 02/04/2012 - 14:53 | 2126830 JeremyWS
JeremyWS's picture

right.... ok.

Sat, 02/04/2012 - 15:06 | 2126844 Future Tense
Future Tense's picture

It's crazy this same thing is coming to Japan.  The pattern is simple now and can be extrapolated out over every country.  Good discussion with charts here on Greece vs. Portugal vs. Japan (who's up next):

http://www.ftense.com/2012/01/shorting-japanese-government-bonds.html

 

Sat, 02/04/2012 - 15:47 | 2126977 knight99
knight99's picture

Tyler,

Could you clarify one thing

1. Is Germany stance still to control Greek finances or is that off the table.

Sat, 02/04/2012 - 17:37 | 2127095 flacon
flacon's picture

That video is Keynesian propaganda. What we really need is aliens to bail out the central banks and loan us more money at interest, now THAT is a solution we can all live with, until the star ship Enterprise comes to save us. / I'm being sarcastic

 

Fuck this shit economics! The Austrian way is the ONLY way - full reserve banking, no "borrow-and-spend", personal austerity (savings), and an end to global and national governance. 

 

At least he gets some things right, like letting the banks share the blame (although he labels this as the "Catholic" approach, vs, the protestant approach of "too big to fail"- I don't think the pope or Martin Luther have anything to do with the crisis, but he does).

 

"OWE NO MAN ANYTING." ~ THE CHRISTIAN BIBLE

Sat, 02/04/2012 - 19:19 | 2127338 dcb
dcb's picture

yes and no, everyone who p[osts on here seems to forget keynes advocated ton save in good times, and only looks at the spending side. I don't get this, but it really is a 1/2 truth you see all over this site.

In fact both were right.

Sat, 02/04/2012 - 22:10 | 2127605 Ahmeexnal
Ahmeexnal's picture

europe has been a bankocracy since the fall of Rome.
The House of Medici, the House of Bardi. Those were folowed by the Fugger banking mafia which continues to this day:

http://www.fuggerbank.de/
http://en.wikipedia.org/wiki/Fugger

The Fugger bankers are responsible for europe's (and the world's) endless wars.
Spain was so much in debt that most of the gold and silver looted from the new world ended up in the Vatican and in the Fugger vaults.

Sat, 02/04/2012 - 22:54 | 2127708 economics1996
economics1996's picture

Austerity fails if you do not liquidate the debt.  Keeping the debt on the books, taxing the public to pay the debt, only prolongs the pain.  The solution is complete liquidation, and shrinking governments, massive lay off of government workers, and returning to realistic levels of government not exceeding 25% of the GDP.

Sat, 02/04/2012 - 23:05 | 2127732 economics1996
economics1996's picture

The Keynesian “Paradox of thrift” argument is bull shit. 

The economy does BETTER if people save, real savings, because they forgo consumption by savings, and with REAL savings interest rate decline, signaling capital users to invest and build new production facilities, like iron ore mines, oil production, and higher level capital projects.

This is not the same thing as the government artificial printing money to lower interest rate because if consumers continue to consume, and capital users continue to consume the same basket of resources at the same time you ALWAYS get the boom, and then the bust.  This ALWAYS happens because sooner or later you run out of resources, not enough consumers, not enough capital producers, and when that day comes you get the bust.  Think housing bubble. 

You need the interaction of savers, capital users, consumers, interest rates, demand for money, and TIME to separate the different consumption patters for a successful, bubble free economy.

Sorry to say but this video is a example of the fairy tales that are passed on to people that are simply false and lead to massive economic blunders decade after decade.

Sat, 02/04/2012 - 23:18 | 2127769 economics1996
economics1996's picture

The “Animal Spirits” argument is bull shit.

People are rational. 

Germany is correct.  Government needs to shrink.  Government should NEVER be more than 25% of the GDP.  The correct equation for GDP would be Y = C + I –G +lNXl not the current 1934 version which claims government is a equal contributor to the GDP.

When the economy is bad the government needs to spend LESS.  Government produces nothing.  Government takes resources from the productive sector of the economy and redistributes the recourses.  So if government does not produce anything, and causes economic injustice and inefficiency, why on God Earth would we want more government spending in a recession?

The “smoothing” transfer payments is a bull shit argument as well.

It may be socially desirable but taking money from Peter to pay Paul does nothing for GDP growth, it just makes politicians feel important and justified.

Real easy to prove that government spending is a negative, and when it is removed the economy improves.  Look at the US GDP 1944 to 1948, when government spending peaked out, and when it was removed.  When government spending was removed the economy exploded. 

Apparently the Germans are the only one that understands economics in the EU.

This video has so much Keynesian bull shit in it it makes me very disappointed in Tyler that he would waste space posting it.

Sun, 02/05/2012 - 01:22 | 2127999 flacon
flacon's picture

Both of your comments are right on! 

Sun, 02/05/2012 - 05:27 | 2128163 Non Passaran
Non Passaran's picture

In 1958, to avoid SEC fines Fugger changed name to Fukker, and in 1978 Bardi and Fugger merged into a still secret bank that dominates illegal (shark loan) lending and is called Furdi or (South Italy and Sicily) Farti.

Sun, 02/05/2012 - 13:23 | 2128715 Thingumbob
Thingumbob's picture

While you do show more acuity about the European history of banking than most, you should realize the the bankers themselves are merely the vehicle to implement a policy directed from above. Today the conglomerate known as the Inter Alpha group is the vehicle for the geopolitical policy centered in the City of London and onlty secondarily Wall Street. The policy is an inbred visceral hatred of the British Empire for sovereign nations pursuing industrial and agricultural progress and growth. That is precisely why the Queen's consort Prince Phillip heads the WWF and intones that he wants to be reincarnated as a deadly virus to rid the world of excess population. Hitler and the Fuggers were mere pikers by comparison...

Sun, 02/05/2012 - 02:46 | 2128068 LudwigVon
LudwigVon's picture

"everyone...seems to forget Keynes advocated ton save in good times

...it really is a 1/2 truth"

-------------------------------------------------------------------------------------------------------

Treatise on Money, 1931

"On my theory it is a large volume of saving which does not lead to a correspondingly large investment (not one which does) which is the root of the trouble."   later..."There is, indeed, no possibility of intelligent foresight designed to equate savings and investment..."

Keynes then goes on to argue the opposite in the General Theory:

Saving and investment are not only equal but "merely different aspects of the same thing."

"In the aggregate the excess of income over consumption which we call saving, cannot differ from the addition to capital equipment which we call investment...Saving, in fact, is a mere residual. The decisions to consume and the decisions to invest between them determine incomes."

The quote above illustrates Keynes backward looking causation.

"Saving is the act of the individual consumer and consists in the negative act of refraining from spending the whole of his current income on consumption."

 

He railed against personal saving, even giving one of his few listed "reasons for saving" as Miserliness.

For personal gain,  he attempted to develop a system by which consumption and "investment"

(defined as the positive act of spending "merely a different aspect of the same thing" savings(or new fiat))

could be justified by politicians, beyond what could be taxed with representation.

 

 

Sun, 02/05/2012 - 15:36 | 2129087 GovtMediaLiars
GovtMediaLiars's picture

That's because it doesn't matter one whit what Keynes, or anyone else for that matter, said or says. 
It is, however, of the upmost importance to pay very close attention to what "Keynesians" actually DO, here in the real world.

 

Sat, 02/04/2012 - 20:46 | 2127483 Chuck Walla
Chuck Walla's picture

Indeed, isn't the "transfers" to "help" people a big part of the vote buying that caused the budget expansion which brings us to this point?  Its easy to give away other people's money, but ask them to pay for all the fun is political suicide. And national suicide. Did this guy never hear of Greece? How does one help them? Or all of Europe? Is there that much money on the world?

Sun, 02/05/2012 - 00:09 | 2127874 Thomas
Thomas's picture

"That video is Keynesian propaganda." Copy-paste saved me keystrokes.

Sun, 02/05/2012 - 08:18 | 2128221 fiddy pence haf...
fiddy pence haff pound's picture

ANY TING? FLACON (16:37)

LET ME TELL YOU SOME TING!

Are you Protestant?

Sun, 02/05/2012 - 09:39 | 2128295 Fiatfan
Fiatfan's picture

"OWE NO MAN ANYTING." ~ THE CHRISTIAN BIBLE

Where is that quote located in The Christian Bible?

Sun, 02/05/2012 - 15:33 | 2129079 dark_matter
dark_matter's picture

Romans 13:8 - Owe no man any thing, but to love one another: for he that loveth another hath fulfilled the law.

Sat, 02/04/2012 - 18:45 | 2127300 johnu1978
johnu1978's picture

Germany doesn't seek to control Greece only to liberate it from the international banking cartel.

 

-John
Support the Attack on Bank of America's Achille's Heel
http://www.piratemyfilm.com/projects/311

Sun, 02/05/2012 - 10:00 | 2128314 trilliontroll
Sun, 02/05/2012 - 06:01 | 2128178 Nussi34
Nussi34's picture

Really funny how the PIFGIS suddenly want solidarity and transfers from Germany. Where were the transfer from the booming PIFGIS from 1998-2005 when Germany was not doing well?

Sat, 02/04/2012 - 15:30 | 2126931 Azannoth
Azannoth's picture

OK ok so let me get this straight.. the governments of the World have been assuming private debt as public debt for the past 3-4 years so far so good, they are now broke because their total debts grew by about 20%-50%, the question no1 is asking is where did the Governments got the PREVIOUS 80% of their debts from?! And the answer is simple Socialism! For the past 3-4 Decades the governments have been growing their debt load almost exclusively(99% of it) to pay for social spending for the past 3-4 years ONLY they have been assuming private debt of the banks and corporations too. So this New Debt is only the Straw that broke the Camels Back not the actual load that is (Socialism), that did the sovereigns in!!! Eureka!

 

PS. If you take this further down this thinking path, you can even assign 50% of this new corporate and bank debt to the people too who wanted to live like millionaires on a Joe the Plumber wage, and the only mistake the banks made was to actually lend to those deadbeats who now protest austerity

Sat, 02/04/2012 - 17:11 | 2127131 Sandmann
Sandmann's picture

Governments have beenrunning their economies ob deficit-financing for decades - how do you think the US paid for Vietnam ?  How do you think Americans got away with being under-taxed the more they earned ? How do you think  Corporations got away with paying so little tax with wonders like an 1120 DISC Corporation ?  Why are Profits such as large share of GDP yet Corporations pay so little tax that Ordinary Workers pay so much ? Maybe Mitt Romney has the answer.

The fact is most Western countries are much much poorer than Consumers think and have been turned into Consumer-Rabbits being fattened up for slaughter. The whole gospel is Consumerism and that is not what the US was built on. It has been hi-jacked by interest groups that simply want to fleece Voters

Sat, 02/04/2012 - 17:56 | 2127222 Azannoth
Azannoth's picture

"Why are Profits such as large share of GDP yet Corporations pay so little tax" - maybe because corporations don't get Free Healthcare, retirement benefits, child support, unemployment benefits, public schooling etc. I think corporations already pay more than their fair share for what they get in return, corporations should only ever be liable to their shareholders, customers and employees and be environment neutral, government should never come into play only the courts(if need be)

Sat, 02/04/2012 - 18:03 | 2127232 blindfaith
blindfaith's picture

 

 

Pal you need to lay off the grass. 

Every community pays big time for a company to 'move in'  Every hear of tax credits. etc.The average community LOOSES money on the relocation of corporations to their communities.\

Check your position, it has more holes than Albert Hall.

BY THE WAY..I just googled PLUTOCRACY and Rand Paul comes up:

Rand Paul Explains His Support For Plutocracy: ‘There Are No Poor…We All Work For Rich People’

"Last night, Kentucky elected Rand Paul (R-KY), the son of Rep. Ron Paul (R-TX), to the U.S. Senate. Speaking to CNN’s Wolf Blitzer, Paul announced his intention to do anything it takes to shield the privileged rich and corporate America. Asked if he would end the $830 billion, unpaid-for Bush tax cuts to the rich and return tax rates for the wealthiest bracket to Clinton-era levels, Paul snapped and said such a move would cause a “second great depression” and declared that “anybody who proposes such a policy really is, I think, unfit to be making decisions.”

What the heck is with this guy?

Sat, 02/04/2012 - 18:49 | 2127303 Eally Ucked
Eally Ucked's picture

They're all fucked up in their minds, 40 years of indoctrination must leave some damage to the brain and their way of thinking, and then add on top of it all those paid advisors shaping his mind every day.

Sat, 02/04/2012 - 23:04 | 2127723 sun tzu
sun tzu's picture

The average community LOOSES money on the relocation of corporations to their communities.\

That must be why Detroit and Newark are so wealthy now that the corporations have fled those cities

 

You must really have blind faith if you think stealing money from the upper middle class to fund the police and welfare state will help anyone but the oligarchs

Sat, 02/04/2012 - 23:15 | 2127757 Totentänzerlied
Totentänzerlied's picture

Since you're apparently ignorant of it...

Asked if he would end the $830 billion, unpaid-for Bush tax cuts to the rich and return tax rates for the wealthiest bracket to Clinton-era levels, Paul snapped and said such a move would cause a “second great depression”

Is merely Rand Paul upholding a tenet of Austrian economics: taxes on the rich are counterproductive (destructive) for the entire economy. The minor premise is that the rich are the major drivers of job creation, capital investment, and of course spending. If you accept the minor premise, the argument is true for the simple reason that higher taxes translates to less wealth available for job creation and capital investment.

Rand Paul accepts the minor premise. The problem is that the new rich are drivers of labor misallocation/job destruction and capital misallocation/destruction, though it is still true that they account for the vast majority of private spending.

Much more importantly, the entire argument is a moot point. Instituting a 100% tax or a 0% tax on "the rich" would create absolutely no significant benefits for the rest of the country. In the best-case scenario we would be able to stop monetizing debt for all of a few months or so. In the worst case, the wealth is vaporized along with any incentive to become rich (this is in fact an observed phenomenon, when an additional $N in income will bump someone into the highest tax bracket, that person will often forego said additional income in order maintain a lower tax rate).

We are long, long past the point where tax revenue mattered vis government spending. The argument is a farcical and pathetic attempt at promoting class warfare, which, coming from ThinkProgress, is ... utterly unsurprising.

If they wish to argue about "unpaid-for" liabilities (of which there are anywhere from $61  to $119 trillion dollars' worth), why not start with the military, Medicare, Medicaid, Social Security, or anything else they would rather die than see cut by a single penny. $830 billion is a droplet compared to the ocean of entitlements that are the golden calf of braindead Neo-Marxist class warmongers.

Sun, 02/05/2012 - 17:46 | 2129339 sun tzu
sun tzu's picture

The $830 billion is over 10 years, not one. Basically, it would cut the annual deficit by 5% when the budget needs to be cut by 50%

Sat, 02/04/2012 - 18:09 | 2127239 tarsubil
tarsubil's picture

Yeap. Fiat allows governments to finance welfare and warfare. So they do. Take fiat away.

Sat, 02/04/2012 - 20:42 | 2127478 EINSILVERGUY
EINSILVERGUY's picture

Actually Vietnam was paid for through inflation and don't forget that it was a Guns Vs Butter approach. The Great Society under Johnson was in full swing by 1968 when he decided not to serve a second term. look at US budgets . 1960 Defense was 50% of the budget and entitlements were less than 25%. Today they are reversed.  Cradle to grave socialism practiced by the western democracies is the root cause of our fiscal ills.  Politicians will act in there own self interest and after years of the New Deal, Great Society and Bush's compassionate socialism, we are at the logical end.  Too many people on the governemet teat expected something for little put in. 47 million on food stamps, 66 million on social security. a labor participation rate of 63.7% and the dems all to willing to know take more form the producers to give to those that take.

 

 

Sat, 02/04/2012 - 21:32 | 2127551 tarsubil
tarsubil's picture

So here's a question for you. Could we have paid for Vietnam and the Great Society without the Federal Reserve?

Sat, 02/04/2012 - 23:01 | 2127724 sun tzu
sun tzu's picture

no

Sat, 02/04/2012 - 15:52 | 2126988 Floordawg
Floordawg's picture

"Europe has evolved from a democracy to a bankocracy"

A minor note, but I would suggest "Devolved." Are we not men? We are Devo!

Sat, 02/04/2012 - 23:01 | 2127725 sun tzu
sun tzu's picture

EU was never a democracy. They were a bureacracy, run by unelected bureaucrats in Brussels

Sun, 02/05/2012 - 07:28 | 2128225 fiddy pence haf...
fiddy pence haff pound's picture

right on , sun.

nice butt floss, too.

The bureaucratic take-over, the Brussels bouncers for the Franco-German banks, is

there for everybody to see, with the crisis. The crisis might even destroy the Union.

I hope so, because it's beginning to stink.

 

check Youtube for any talk by Nigel Farage.

He's called the German, I mean, Troika control of Greece as Naziism, which it is.

They're all trying to enforce the Protestant thing on us, even the French.

It shows you, you can take the religion out of the people, but not out of their mindsets.

Protestant mindsets are good for slaves.

Sat, 02/04/2012 - 21:54 | 2127598 Hedgetard55
Hedgetard55's picture

What a piece of shit video THAT turned out to be. No clue as to the real probelm, or the real solution (hint: there is none except default, you stupid Irish/English/whatever prick).

Sat, 02/04/2012 - 22:09 | 2127634 Die Weiße Rose
Die Weiße Rose's picture

How Europe Has Evolved From A Democracy To A Bankocracy

And Why Austerity Will Lead To Chaos

 

first of all, could you please clarify what you mean by " Europe "? 

Does this include England and the financial centre of London? 

 

Europe has always been a "Bankocracy" the Banks or treasury has always been at the very base of

any political or economic power of any nation, and a nation starts to decline, when its Banks are Bankrupt.

No change there for anyone until this very moment of time in the history of this world.

Banks have always stood at the base of any Trades between Nations or Empires especially since the Holy Roman Empire,

and at least since the 15th century Renaissance when the Medici Family came to power with Cosimo de 'Medici and his sons who transformed not only the Holy Roman Empire that had lasted for a 1000 years, but also left their powerful imprint on the cultural and economic developement of the entire world.

As you know the Holy Roman Empire was very much the beginning of what we know today as "Europe".

even though "some opponents of Europe" would rather have a Europe divided than a Europe divided. ( No doubt:)

(Margaret Thatcher and David Cameron would love to rebuilt the Berlin Wall and "Iron Curtain" again)

secondly:

Anyone who has ever run a business or traded or lived on this planet beyond infancy knows full well, that you can not borrow money from your friends and trading-partners and receive goods and services without paying for them and if you borrow money, you will have to pay it back or else you will be put before justice and end up in Jail, on the Gallows or deported to the penal colonies in the Americas or even to Australia.

You can not just expect free money and never pay it back ! You can not just keep spending like before, if you or your trades have run out of money, because you will only get deeper into debt and in the end fall prey to Loan-sharks.

So that is where Austerity comes in. You spend a little less and save a little more and make do with the minimum,

and you try to pay down your Debts, from the little you have got left over.

Because if you keep on spending and getting deeper into Debt, you and your Family will be enslaved to the banks for generations, and to avoid being enslaved for all time to come,the only way out is Austerity or War against the Opressors

or loansharks, which will be just as harsh as Austerity, or worse.

 

Anyway, I don't agree with you there Tyler,

Austerity is the only way out of Debt and  anyone who ever had their own business would know that,

except for those public listed companies, that have been "bailed out" by their respective Governments

and central banks at great Peril to their financial and economic financial power, well being and even sovereignty.

So there Tyler, I thing you are talking bullshit !

A little Austerity does wonders,

but taking on ever more Debt and causing more and more currency devaluation (by QE) will only lead to inevitable financial ruin, war and finally bankruptsy and breakdown. All that is what we are witnessing presently.

Some is still to come in the near future.

Maybe it is time to try some moderation and for those Nations that are in Debt at over 100% of GDP,

maybe a little Austerity would be not such a bad thing, considering the alternative ?

but of course you know that Tyler, you are just trying to piss me off, because I am German and I love Angela Merkel,

because she is the only one left with any Integrity, while everyone else is waiting for free money and the next bailout.

but who is gonna pay ?

 The Germans ? The Chinese ? The Australians ? We are already paying through the Nose for

Fuel and Energy Prices sky high Interest Rates, huge Cost of Living Inflation (CPI)

so what more do you want us to pay ?

 

My Finances are in Order.

I make sure I dont spent more than I make and all my Debt is paid off.

How did I achive that? By cutting down my costs of living and all other expenses,

and changing my Lifestyle, to be more economic, a little more frugal a little more Austere.

From a greedy unhappy constipated consumer addict, wasting a lot and wanting always more,

I managed to change my Lifestyle around to doing  the things I like and living a Life that actually

makes me happy , without all the consumer-shit I never really needed or wanted to buy anyway.

What I am saying is:

Austerity is not such a bad thing, it can be actually a good thing.

Ask any Athlete or Sports - Champion, Artists that excelled like Rembrand, Mozart,

Salvadore Dali, Da Vinci, Michaelangelo, even the Medicis , all throughout history

these People were Ascetics and they used Austerity and amazing Discipline

to achieve what they accomplished.

So No Tyler, your argument does not stand, it has been proven to be false,

Austerity is a good thing, it can even be healthy,

most people are too fat anyway, and losing a few pounds wont hurt them.

If George Soros is so worried about too much Austerity in Europe,

he could always return the billions of GBP he stole from the Bank of England,

when he almost sent the whole british economy broke...

fucking dickhead George Sorros, give back the money you stole!

but I would'nt hold my breath....

Anyway, Not My Problem!

You work it out !

So fuck off, no really - I mean it:

go fuck yourselves you british imperial wankers !

wr;)

 

 

 

 

 

 

 

 

 


Sat, 02/04/2012 - 22:30 | 2127645 Ahmeexnal
Ahmeexnal's picture

SwineHella Merdekel is the only one left in the world with integrity? You love SwineHella Merdekel? Who the fuck are you? His sad pathetic husband? You teutonic imperialist swine. How about mentioning the role of the German Fugger banking mafia in the mess we have been living in for the past 500 years?

http://interactive.wsj.com/public/resources/documents/mill-1-timeline-fu...

 

Jakob Fugger II (1459-1525)

Fugger held the contract for managing the pope's money and collecting cash for the remission of sins, and he bankrolled Charles V's election as Holy Roman Emperor, which involved bribes of sums three times the annual revenue of Florence.

 

Seems to me you are defending the banking elite:

the only way out is Austerity or War against the Opressors

or loansharks, which will be just as harsh as Austerity, or worse.

This is total bullshit. War against the Opressors is the only way. Unless you like being a serf and want to have the boot stamped on your face forever.  

Your whole rant reeks of hipocrisy.  You want Greece to pay up on a debt IMPOSED upon them.  Yet, the burden placed upon the greek people is EVEN WORSE THAN THE 1919 TREATY OF VERSAILLES

 

 

Sat, 02/04/2012 - 22:41 | 2127686 Die Weiße Rose
Die Weiße Rose's picture

Ahmeexnal  

go fuck yourselve you little momo swine

jealousy is a curse,

go back under that rock you crawled out from

and keep on masturbating over the Union Jack !

while I will take All your money

and push you out of the EU !

who the fuck are you anyway,

you really sound and look like a idiotic  fucking cockroack,

don't waste my time, unless you want to pay me

for therapy and education sessions.

wr;)


Sat, 02/04/2012 - 22:49 | 2127697 Ahmeexnal
Ahmeexnal's picture

Your mask has fallen off, you cryptorchidic fool.

 

while I will take All your money

and push you out of the EU !

We all know that was the plan.  But the world will side with the oppressed, not with the oppressors.

The days of the power elite are numbered.  The blade shall fall swiftly, and your mind will have 13 seconds of bliss, detached from your body.

 

Sat, 02/04/2012 - 22:59 | 2127722 Die Weiße Rose
Die Weiße Rose's picture

But the world will side with the oppressed

well Ahmeexnal, that sounds like wishful thinking to me

and does not exactly reflect reality...

unless you live in Kuku-land..

you should get out more Ahmeexnal,

theres a real world out there !

beyond the Land of free handouts

and never-ending hopium...

you should open your eyes some time ,

unless you are afraid of reality ?

wr;)

Sat, 02/04/2012 - 23:44 | 2127831 Die Weiße Rose
Die Weiße Rose's picture

The days of the power elite are numbered and the blade shall fall swiftly...

well Ahmeexnal, that again sounds like wishful thinking to me

and again does not exactly reflect reality...

you see, the last time that happened in Europe was during

the french Revolution when they stormed the Bastille in Paris

on the morning of 14 July 1789.

The blade fell swiftly and through the ranks rose a certain Napoleon Bonaparte,

who soon invaded anyone and killed anyone who dared to protest or oppose him.

He came across the Rhein and forced young germans into military service and

introduced conscription and enslaved and killed those who opposed him.

Napoleon stole all the wealth and treasures from those he invaded and in return

imposed countless rules and heavy Taxes, there were even Window Taxes and countless Property Taxes,

while he also confiscated all the Property and Wealth of every town and Monastry he came across.

Gone was the spirit of the french Revolution

gone were the dreams of Equality, Freedom and Justice for all the oppressed and all the People !

 

On the 2nd December 1804 at Notre Dame de Paris Napoleon crowned himself Emperor Napoleon I

and then crowned Joséphine Empress. Napoleon was the biggest Oppressor Europe has ever known.

 

The days of the power elite had just begun and the blades fell swiftly alright !

They fell swiftly and cut deep into the heart of the french revolution itself,

killing the very promise of Equality, Freedom and Justice for all

cutting into the ravaged enslaved body and spirit of all the enslaved and Oppressed People.

The french revolution had failed, and a new Tyrant had fooled the World,

crowning himself Emperor.

and the days of the power elite had only just begun...

wr;)

Sun, 02/05/2012 - 00:31 | 2127916 BigDuke6
BigDuke6's picture

Your nonsense shows how far down the slope the german people have come.

From being one of the great peoples of europe/world TPTB have diluted them to a bunch of rambling softies.

Sun, 02/05/2012 - 01:23 | 2128004 Die Weiße Rose
Die Weiße Rose's picture

Big Duke : how far down the slope have the german people come ?

is that why they are hanging out for more free handouts from Germany

and some more trillion Euros of LTRO for the ESM, the EFSF IMF and ECB

with all the other ponzi-socialists waiting for a German handout to save you?

It's obvious, that you (the US / UK) can Not save themselves,

so you want Europe to pay up...

and when you say Europe, you really mean Germany,

because England or the UK is really the 51st state of

that bankrupt british colony of North America.

Goldman Sachs is a Hedgefund that bet heavily on a Greek default with CDS.

let them get the Haircut they deserved a long time ago,

right across their Vampire Vulture Neck.

When you say banks, you really mean Hedgefunds,

because they are going to be fucked if there is a disorderly default,

and I hope thet there will be.

As a german I will not pay one more Euro for

that failed UK/US economic model of MF-Global 40:1 leverage fame !

 

More Debt from more Debt, what shit is that ?

The US is bankrupt as is the UK.

on the other side of the coin:

China and Germany and Australia, Russia and the Middle East

are the only ones making any money and have any business left.

 

All the US has is an overprized Apple

and a failed banking system propt up by the Fed

all the UK has left is the financial ponzi scheme they call theLondon mile

and hopium for the upcoming Olympics that will pile on even more UK Debt

so who are the great People of Europe ?

Do you think Germans really give a fuck ?

not our problem, all that shit started in the US

so let them fix it.

wr;)


 

Sun, 02/05/2012 - 07:39 | 2128228 fiddy pence haf...
fiddy pence haff pound's picture

I have a maxim for you, Weisse man.

I think German citizens should work hard, consume, fist their wives and die.

They really should not get on ZH and tell us about Cosimo De Medici and the ROman

Empire.

Germans are a pure product of the Protestant view of life. There's not much separating

Germans from the ENglish or the Americans right now as far as political economics is concerned.

Their oligarchs all think that we should pay for the mistakes of their banks.

Sorry, Weiss man. All your efforts are wasted.

Life doesn't work that way.

Luckily, we no longer go to war for such things.

Now we have the EU, so that we can go on in eternity, bickering like gentlemen.

Good day

Sun, 02/05/2012 - 08:11 | 2128239 Die Weiße Rose
Die Weiße Rose's picture

I have a maxim for you fiddy pence :

go fuck yourself !

wr;)

Sun, 02/05/2012 - 08:21 | 2128246 fiddy pence haf...
fiddy pence haff pound's picture

NICE.

YOU'LL GET TIRED of this soon.

everybody else is, already.

 

Sun, 02/05/2012 - 08:33 | 2128252 fiddy pence haf...
fiddy pence haff pound's picture

I will give Germans some credit.

 

As you seem to show, Germans are probably the only nation that believes

its own government's bullshit about lazy them, and holy us. (you're being manipulated)

All your theories are designed to explain that world view. That's why it's hard

to make sense of them.

 

Your government is corrupt and is controlled by your corrupt, bankrupt banks

who would rather destroy the Union than admit guilt.

There's that religion thing again.

have a nice day.

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