Jefferies Describes The Endgame: Europe Is Finished

Tyler Durden's picture

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Dantzler's picture

Let's get it over with, please.

X.inf.capt's picture

enough of foreplay, already...

BRING IT ON,BRING IT ON, i heard the man say....BRING IT ON!

Sabibaby's picture

5th rule: Only one fight at a time fella's!

X.inf.capt's picture

sorry, baby. but i think the rules are about be changed,

not just on ZH...

Sabibaby's picture

Nah, the rules don't change bud. If you pay attention, on a long enough timeline the  survival rate for everyone drops to zero.

spiral_eyes's picture

"Expect a massive policy response in Europe and a move towards financial market nationlaization that will make the US experience look like a walk in the park."

I expect the EU policy response to be much more muddled and incoherent than anything we saw in America.

Remember: the EU chiefs knew from the start Europe was broken, but they didn't think they could get the policy instruments without a crisis.

I think this crisis is much bigger and darker than they anticipate. 

i-dog's picture

"I think this crisis is much bigger and darker than they anticipate"

... and sooner! I still believe TPTB (which are based in Europe and were planning to extend the EZ) were hoping to crash the USD before the Euro fell apart.

markmotive's picture

Crisis after crisis will lead to bailouts/printing. And each crisis will worsen because the disease is not cured.

If we keep on this path, the ultimate crisis will be one of hyperinflation across the developed world.

Thomas's picture

I am deriving no entertainment value from reading this shit anymore. It is exhausting and tedious. If there was some guaranteed real return of 2% out there somewhere, I would shove all my money into it, turn off the internet, and get my life back. As it stands now, I feel like I have been (albeit successfully) holding back the forces of evil sitting in some fox hole for a dozen years. This is getting old.

grey7beard's picture

I think you've expressed my feelings better that I could have.

About a year and a half ago, after liquidating all of my city assets, I bought an old abandoned trailer on 10 acres out in the sticks.  After a quick renovation, I dumped all my remaining materal goods there and left on a 6 month (so far) 20,000 mile camping trip.  It was good to clear my head but I've still followed the slow motion train wreck via the internet.

I wasn't sure how a city slicker like myself would take to living in the sticks, hence the cheap dump in case I wanted to abandon the idea.  It turns out I love it.  We pulled into a city a few days ago and bought a much better 10 acre place through the wonders of the internet on an online auction.  I've nver seen the place but a friend did stop by and take a couple of dozen photos.  It's only about a mile from my current redoubt so I know the neighborhood.  

I'm looking forward to getting off the road and immersing myself into raising organic grass fed beef.  Hopefully I can just ignore the rest of this garbage.



Whatta's picture


we live on about 50 acres in a modest house, raise goats and tend large gardens. with satellite setup we can remain attached as much as we need to the rest of the world, or just unplug and say 'fuck it all'.

it's peaceful and self-satisfying. and it isn't a 'newness' thing. we have had a place in the sticks since 1998. and it never gets fact with each new craptacular Black Swan it gets better.

prains's picture

you might want to think about something in concrete

edotabin's picture

I am not certain it was entertaining to begin with.  The implications are huge and the consequences dire. Maybe the "entertainment value" was actually a feeling of being better informed than the average Joe.

I refer to this as destruction porn.

boiltherich's picture

I will tell you how it has made me feel, very much like I imagine most Jews felt in Germany in the 1930's.  I have seen a lot of interviews with survivors of that era and almost all of them say it was hard to feel panic over the things done and said during that time because one just could not believe that the most civilized and advanced of nations would allow such a thing to happen, that it was a phase of scapegoating rhetoric they had endured all too often and it would pass as it always did.  There have been many scares in the past because there have always been stupid people who must blame you for all the problems.  It must have seemed as though they were misunderstanding something on a very basic level because there are contradictions everywhere, and anyway, it all seemed to happen in slow motion.  Things would get just a little worse and you would get used to it.  No one thing would happen on any new day to make you wake up and say SHIT! I need to get my butt outta here, at least until the Kristallnacht, and we have not yet had that economic equivalent yet.  Even with the Kristallnacht there were people in denial.  Many thought, maybe if I can just figure out how to hang on a little bit longer they will wake from the insanity and correct the problem, become civilized again.

Some Jews realized what was happening and fled Germany, just as some of you are fleeing your old lives, and you know that by dropping off the map of your old lives you risk ridicule as an alarmist, it is a big change that requires conviction that you are correct and that the sickness in the nation is deep and black, deadly serious.  Today we call those the smart ones and wonder why if they knew it was that bad and saw the possibility of death camps, why then did the rest not see it and go? 

But, even of the smart ones to flee Germany most went to France, or Holland, even Poland, just as many here are fleeing equities and debt markets for gold, like when the shitstorm starts in earnest they will not demand you sell to the government for a fraction of your real invested value.  Some are buying survivalist acres far from crowded urban centers thinking to insulate themselves from what is to come, but the problem is not geographic, it is in the sick, diseased system in which we all live.  I have often predicted that as we are going now those with the foresight to protect wealth into the impoverished future will indeed be rich once all others are poor, even when the gold is confiscated there will be people with productive land and food, shelter, but that then will become the standard of wealth so that as mobs of starving humanity see you have what they must have you make yourself a target, you can hold a few off for a while, but you can't hold off hordes forever. 

I think many said to themselves this is my home, the life I am attached to and love, maybe it is worse than I can see and maybe there will be death, but my life is here and I would rather die than leave.  Maybe they believed that when the rhetoric of menace was turned to action and killings began for real that would be what woke the powerful up to their own wrongs because then they would understand what consequence there was to the evil they had been speaking for a decade.  And I think many simply did not have the resources to do anything about their situation, they saw it coming and could do no more than watch in horror.  Even when they thought of leaving they could not see where they could flee to.  Stories abounded of people leaving and being turned away, as with the ship in Havana harbor that was turned away.  America was not taking refugees without them having money and connections, Britain was not allowing refugees into Palestine.  So, many knew what was coming but were prevented from acting by a sense of utter hopelessness.  They could not even control the few feet of personal space around their body no less affect policy.  How many were in death camps saying to themselves this just cannot be real?  When will they wake up?  How can this be? 

There are so many parallels in the world today between that era of fascist thuggery and modern economics.  And in the comparisons, as a person just above a working class but solidly below middle class, I feel like a Jew of that time.  Not just any Jew either, but one that bears a striking resemblance to the propaganda posters pasted all over the Reich.  And we have the GOP in this country now who seem to liken us to that film in which rats are fleeing into the sewers, we have all seen that footage from "The Eternal Jew."  And yet all the while I know I am not those things, that I have been a faithful citizen who has always done the right thing, this must somehow be my fault, good people would not permit such injustice would they? 

If any of my analogy strikes a nerve for you then understand this, in my analogy it is not even 1938 yet, the worst by far is yet to come and the knowledge that history will vindicate you will be of little comfort when you are dispossessed and voluntarily step through the gates of the FEMA/Homeland Security camp gates because that will be where the feeding stations are erected after the collapse.  People wonder about the rumors of such camps in remote parts of America capable of handling millions of people, how would a nation like America get millions into such concentration camps?  Simple, make those seem like the places of hope people can flee to for safety.  You don't force people in on boxcars, you get them to camp by the gates waiting for their turn to go inside. 

The only way to fix the future left to us is to cure the minds of TPTB, make them see the evil of their ways, or eliminate them before they eliminate us. 

i-dog's picture

Excellent essay!! I totally agree with your diagnosis of the disease but disagree strongly with your prescription for the cure...

"The only way to fix the future left to us is to cure the minds of TPTB, make them see the evil of their ways, or eliminate them before they eliminate us."

I don't see either of your suggestions as viable options.

Firstly, you cannot make TPTB "see the evil of their ways". They are not doing this by accident ... they have been planning and carefully executing this global takeover for generations (in some of their families, for hundreds of generations). In fact, the superstitions that they impose on their followers (Sabbateans and Jesuits alike) are evil ... they are told to worship Lucifer! And an integral part of their plan is to reduce (ie. kill off!) the world population by over 90% down to a "manageable" size!

Secondly, you cannot "eliminate" them. Not only would that be stooping to their level and methodology, but it would also be a fruitless pogrom. You can't kill an idea, you must render it sterile with a better idea. Philip IV didn't end secret societies by attempting to kill off the Knights Templar in 1307. Neither did Pope Clement XIV end the Jesuits by "permanently" banning them in 1773. Neither did Hitler eliminate the Jews from Europe by attempting to kill them off in WWII.

What we really need to do is to take back our sovereignty from the globalists ... house by house, township by township, city by city, county by county, sovereign state by sovereign state. Starve their failed central planning and control organs (UN, EU, Washington DC) by reinstating free trading local communities with localised governments to address local needs and concerns.

Central planning has been a failure and is imminently dangerous to your health ... SECEDE NOW!!

boiltherich's picture

I agree it sounds like an unlikely plan, but violently deposing TPTB has a solid history of working even if the programs implemented afterward were dismal failures, like communism post Russian Revolution.  Still, it has to be simpler than taking back sovereignty block by block and town by town, and as it is attempting to starve failed central planning will only starve you. 

macholatte's picture

 Things would get just a little worse and you would get used to it.  No one thing would happen on any new day to make you wake up and say SHIT! I need to get my butt outta here,......... Many thought, maybe if I can just figure out how to hang on a little bit longer they will wake from the insanity and correct the problem, become civilized again.

Yes, well said boiler.  The quote above is something I see as happeneing today. A slow, steady grind into poverty and depression and maybe worse. Your condemnation of the GOP is, however, somewhat myopic. Not that the GOP is doing any kind of decent job and doesn't deserve a good slap upside the head. The unfortunate choice is that you default to the Dems which is really the Progressives. I should hope that the last 2 years would have opened your eyes to that reality. Nevertheless, good job. Thanks.


All propaganda has to be popular and has to accommodate itself to the comprehension of the least intelligent of those whom it seeks to reach.
Adolf Hitler

Element's picture

And yet all the while I know I am not those things, that I have been a faithful citizen who has always done the right thing, this must somehow be my fault, good people would not permit such injustice would they?


That's the tragedy of it. Everyone will get lumped together for the wickedness of a vile 'conservative' minority.

Unfortunately, that minority ALSO don't know when to stop, or simply just refuse to stop, until it's far too late (and yeah, it is too late ... they even call it doing gOD's werke ... so who is the more destructive ... or the more ignorant party in this death dance?).

Look around us. As you say, it's already happened ... unnoticed ... and we are at the end of the beginning of something desperately foul.

The more 'justice' is made into a joke, by TPTB, the more ordinary people will reject it in reply and recourse, and then the arbitary process you describe will take over.

falun bong's picture

Aussie bank CDs paying 6%, but you have to live here not to get currency risk. And strong as they are, they'll probably get crushed if the SHTF since they get funding overseas.

Or just move to Vanuatu like I am:

Element's picture

Ah, yes Vanuatu, ... I've considered moving there to escape the constant high-pressure-bullshit and utter piffle and drivel that eminates from the Australian media and the capitals, especially Canberra ... and the resulting crap pseudo-aussie pop-kulture ... it bothers me that much that I'd even leave just to get some sembalance of sanity and dignity back ... so greviously disappointing it is.

But I will not leave like that. I will tell them to go fuck themselves because this is MY world, and my home, and I insist that they fuck-off somwhere else instead of me, or else change their vile ways.

durablefaith's picture

No, this is the precisely the crisis that was made to order to take advantage of the Obama moment.

On September 20, 2010, a report was presented jointly by the US National Intelligence Council and the EU institute for Securities Studies. It was called ‘Global Governance 2025: at a critical juncture’ .

Mr Giovannie Grevi, former research fellow EUISS, made a telling comment about his goals for global governance and his fear was that the world between 2010 and 2025 would be “business as usual, barely keeping afloat kind of scenario wherby we don’t have a crisis that is big enough to rock the boat.”

Banning Garret, moderator, and Director of the Program on Asia of the Atlantic Council proposed a solution to risk of not making sufficient progress towards the desired 2025 Global Governance ouctome:

“Is this a timeline problem?…If we move ahead more quickly, see this as an urgent problem…these outcomes are less likely.”

Mr. Alvaro De Vasconcelos, Director of EUISS wrapped things up with the  following:

We have an American President that is in favor of multilateralism. Is this window of opportunity to stay there forever? I am not sure at all. This is a very particular moment because of the pro-multilateral appraoch of the United States, and this, what we have called the Obama moment, is a window of opportunity for Europe and certainly for the other rising powers if we want really to move to a more effective multilateral system.


Michael's picture

What will The Bernank do facing the Kobayashi Maru? Another dead cat punt?

Kobayashi Maru   A no-win situation caused by a set of rules that can only be won by changing the rules, in effect, cheating. This term comes from the name of a small ship in distress in a scenario shown in a Star Trek movie. According to the film, the scenario is featured in a training simulator for students attempting to become ship's captains. They receive a distress signal from the Kobayashi Maru and can either attempt to rescue it and be destroyed by enemy forces or leave it and let it be destroyed. James T. Kirk, according to the film, is the only person to have won the scenario--by reprogramming the simulator. Kobayashi Maru, loosely translated, means "Little wooden ship." Someone experiencing a Kobayashi Maru can be said to be between a rock and a hard place.


macholatte's picture

Good analagy. Reprogramming is what it's all about.

nuinut's picture

Revaluing... same thing, just a different angle.

But that is an excellent analogy, I agree, but it won't necessarily be The Bernank changing the rules, but most likely the market, IMO.

Or potentially any large sovereign or grouping of sovereigns.

In any case the rule change will involve the value of gold.

gmrpeabody's picture

Ah yes, that IS the question.

Up in euros and down in dollars...

followed by a fall in euros and a dramatic rise in dollars...


nuinut's picture

Everything down in value against gold.

All currencies down against all tangible assets (particularly those not already overvalued via credit based speculation like housing) will be a distinctly separate revaluation which will involve gold too.

Only gold benefits from the double-whammy. But we all benefit from the new monetary system.


Just a matter of time.

ambrosiac's picture


Indeed.  And reprogramming is exactly what is coming.


Bend the rules some more, free up ECB's printing press, give more leeway to its buying desk.  What's a little inflation between friends?  Spread the pain around.


They call it "fiat" for a reason.  Confidence in its resilience, bitches.


in-  long on S/M clubs  -mode


snowball777's picture

analagy n: to avoid eating (the gubmint cheese)
Keep it real, my workin' bitchez.

Reprogramming is what it's all about.

By whom and with what code?


old naughty's picture

My hero, Admiral James T. Kirk has moved on.

Who will lead this re-programming, may I ask?

Thanks for sharing.

LarryDallas's picture

Nice reference. Well this is why I own PMs-- to quote the Shat: I don't like to lose.

Transformer's picture

Does this mean I'll be able to get a good deal on a Beemer?

Michael's picture

The aristocrat oligarch families of Europe will have to ride the subway and eat tuna fish sandwiches because they will be poor.

Michael's picture

It's so sad for it to end this way after years and years and years of Wall Street fraud.

We could have ended it back in 2008 and had many perp walks and prosecutions for the fraud by now.

But no. Now we have three more years of fraudsters piling up.

And how many prosecutions of all those years and extra years of fraudsters piling up have we prosecuted?


Michael's picture

Have you ever lived through a worldwide bond market collapse?

Michael's picture

We could have had maybe a couple dozen Lehman's by now if Ron Paul was elected back in 2008, if that.

Now, since Barack H. Obama was elected, we are facing hundreds of Lehman's worldwide occurring before our eyes.

Let me just take this opportunity to say;

I Told You So!

Muddy1's picture

The perps, banksters, and fraudsters have used the last three years to do CDS on their unlawful, and immoral activities.  The actions have been repaackaged and resold so many times we really don't know "who dunnit", we just know it happened. 

The financial cost of incarceration would be enormous in those medium security prisons where white collar criminals go.  We should put them in tents out in the desert ande feed them bologna.  If tents are good enough for our troops in Iraq and Afghanistan, they are more than good enough for the crooks.

FeralSerf's picture

A/C costs too much -- need to eliminate A/C.

Chaffinch's picture

Don't shed too many tears for the aristocrats or the oligarchs. They are experts at preserving their wealth in troubled times.

pelican's picture

That or kill off the peasants.

hunglow's picture

Will the tuna have the head on with clear eyes packed with ice or canned with an expiration date stamped on the bottom.

old naughty's picture

Wow, they still get tuna fish sandwich...

You call that poor.

Why not feed them their own brand of soylent green?


boiltherich's picture

I bought a new 328i hardtop convertible BMW in June of 2009.  It was stickered at $58k and change, or if you prefer 59.6 ounces of gold at the price on that day.  Today you can buy a new BMW hardtop convertible 328i with the same equipment and body style for $55,000 because the euro is lower now than it was then, and that is equal to 30 ounces of gold at today's price.  The real question is not can you get a good deal, it is could you get an even better deal by waiting longer yet?  Just remember, German car manufacturers did not export a lot of cars to the USA once the shit hit the fan for real last time, you could not get any deal good or bad.  Of course by the time it gets that bad again the owners of German luxury cars will be wanting to keep them hidden in the garage anyway lest they be vandalized when in public. 

Still Transformer, that is actually a fairly profound question.  By the way, when the hardtop comes apart and folds up on itself and tucks neatly away in the trunk people hoot and call my car a transformer, they point and get very unsophisticated like children, it can be fun to see. 

FeralSerf's picture

Seems like a lot.  I paid $47K for a fairly well equipped 2011 ED 535i last July.  Good car!

Spirit Of Truth's picture

Be careful what you wish for.  This "panic", which may be of "Grand Supercycle" scale, likely won't stay constrained to financial and economic concerns.  Have you taking a look at developments in the Mideast lately?  This is not a coincidence.  Mass mood is the fabric on which human affairs are shaped.


Inibo E. Exibo's picture

Taking voodoo economics to a whole new level.



IQ 145's picture

The post is authoritative, and credible and Tyler did a real service by posting it. The author says, "picking winners will be difficult"; I think for individuals it is certain that Silver and Gold will ramp up in price as these "safe havens" are known to respond to fear and uncertainty.