In The Merry Old Land Of Oz!

Tyler Durden's picture

From Mark Grant, author of Out of the Box

In The Merry Old Land Of Oz!


Ha - ha - ha

Ho - ho - ho 

And a couple of tra - la – las

That's how we laugh the day away,

In the Merry Old Land of Oz!

Life is a matter of perspective.

Being from Kansas (City) myself I am beginning to feel as if we have all returned to Oz. The Good Witch and the Bad Witch, depending upon the casting director of the day, is alternatively played by Angela Merkel of course. If she is imposing fiscal discipline she is in her sparkly shoes, her green dress and she is waving her wand and smiling benignly. If she is being asked to empty the coffers of Germany and is refusing then she is in the black dress with the black pointy hat. The movie opened in black and white and now has become quite colorful and each day one can glimpse some of the colors of the rainbow as painted by various European artists.

Rub, rub here, Rub, rub there, Whether you're tin or brass

That's how we keep you in repair In the Merry Old Land of Oz!

The tin man is now living at the bank in Frankfurt and he has received the Wall Street certificate for his brain which promises much and is short on delivery but that is what he learned. The Munchkins are all out on the yellow brick road and off to see someone or another and are presently mired in the poppy fields where they are having flower induced dreams of unlimited money, no responsibility and the Wizard, now living in Florida with Toto’s cousins Princess and Mr. Trooper, is finding great amusement with the antics of it all and reminds everyone that a horse of a different color will be a staring figure in the next act of the play as the poppy fields are left behind and the gates of the not quite so Emerald City come into view.

We can make a dimple smile out of a frown.

Can you even dye my eyes to match my gown?


Jolly Old town!

In the next scene we also find the Witch of the West, the International Monetary Witch, who agrees that someone has to pay and has presented several artful and magical plans to the ECB and the EU of just who this might be and how it could be done and the truth is she doesn’t really care as long as it is not her nor the folks in her domain. You see, when it comes to the fairytale lands of Greece, Ireland, Portugal, Cyprus and Spain everyone is of the same mind and that is that someone will have to pay and that is all well and good as long as it isn’t them. Lately we even have the believers in pixie dust and artful fantasies such as this that think that the ECB can make capital from nothing, a trick very similar to turning lead into gold, because while the printing is cheap; the consequences are fretful but damn the consequences; full speed ahead.

Clip, clip here, Clip, clip there, We give the roughest claws.

That certain air of savoir faire, In the Merry Old Land of Oz!

The scarecrow now has quite a large family living in Brussels and they are all spending their time fending off the crows, looking for hearts that beat with money and are still terrified of fire. The Greeks are settled in their counting house where all they have to do is threaten, ask and plead and more gold coins are dropped into the slot and the Spanish, quite envious these days, are building their own counting house in hopes of catching up with the Greeks. The Gnomes in Germany, Austria and the Netherlands have recently sent people up from the mines and are beginning to notice that their stockpiles of precious metals are dwindling as they drain off into the Mediterranean. The Italians are about to join the fun and the Barolo will be paid by the Germans and life is good. The French are having a little champagne at St. Tropez and enjoying the show and the spectacle is thrilling as long as there is money to pay for it and everyone is willing to do so. Reports that stocks are running low or that people are tired of carrying the goods out to the sea and dumping them are met with jeers and then more schemes with one being more magical than the next and everyone enjoy the show and don’t look over your shoulder as, in the Bible, you will be turned to salt.

Ha - ha - ha, Ho - ho - ho - Ha - ha - ha -ha – ha

That's how we laugh the day away, In the Merry Old Land of Oz!

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GetZeeGold's picture



Wow.....I don't think we're in Kansas anymore Toto!


Now just where did I put that Pink Floyd CD?


spankfish's picture

Check next to your pot stash.

GetZeeGold's picture



Well.....of course!

akak's picture

Bill Still the Fiat Shill is nothing but a virulently dishonest monetary wolf in sheep's clothing who has repeatedly misrepresented monetary history, most especially the gold standard, in support of his statist pro-fiat, pro-central banking nostrums.  Run fast and run far from the bullcrap spewed by this agent provocateur!

TheFourthStooge-ing's picture

Follow the only road.
Follow the only road.
To go anywhere in Canada,
you just follow the only road.
There's only one road in Canada,
we call it the road, the only road.
Hip hip, hooray, let's hear it for our road!
It's paved and wide and up to code.

You're off to see the prime minister,
the prime minister of Canada.

GMadScientist's picture

Now just where did I put that pot stash??

monad's picture

Your friends finished it when you nodded. What goes around comes around.

deez nutz's picture

Now just where did I put that Pink Floyd CD?

only 2 CDs to choose from: Division Bell or Momentary lapse of reason.

onelight's picture


Perhaps the better one would be Pink Floyd's Live in Pompeii Echoes recordings from '71

At least that's what I thought when I read this article about Pompeii supervolcano caldera possibly erupting again..

OK, so it's a HuffPo article, too many of which are moronic in the extreme, however the solar and volcano cycles do go back a long way, and there has been some earthquake activity in the general area of Greece/Cyprus earlier in the Spring/Summer, which sometimes indicates where the next volcano thing will happen. 

And anyway these are always good to hear, with or without supervolcano risk...apocalyptic tunes for the times..   Echoes 1, HD/remastered



Colombian Gringo's picture

The Bernank is the head munchkin, working for his overloads sitting in european castles.

GMadScientist's picture



GetZeeGold's picture can just ask. You don't have to yell at us.


GMadScientist's picture

No, that was fine the first couple times he screwed up his interpretation of the same piece of literature; this demands the capslock.

GetZeeGold's picture



OK.....I'm totally fine with it....good call.


bank guy in Brussels's picture

Mark Grant is superficial and un-informed about Europe ... as well as over-doing the metaphors and analogies ... still caught up in a superficial version of the Germans vs Latins financial fantasy football

Grant doesn't understand and doesn't have much to stay so he spins this long bit of nonsense

When he was on ZeroHedge, Peter Tchir of TF Market Advisors was hugely better on EU affairs, if a little technical at times ... Need to bring him back to ZH

At the moment Ambrose Evans-Pritchard in the UK Telegraph is providing the best coverage of the euro-game ... sharper than ZeroHedge these last ten days, actually

He's always worth reading ... recent articles of Evans-Pritchard on the euro-farce are here

Poor Grogman's picture

Sounds like a plan typical of Europe these days..

Doesn't have to make too much sense...

AccreditedEYE's picture

I yearn for the days when markets forced change and hard choices on policy makers vs. being marionette for global Central Banks...

Vincent Vega's picture

I thought the tin man was in need of a heart and twas the scare crow in need of the brain. Admittedly, it's been a while since I watched Wizard of Oz (excluding Bernanke, Draghi, et al).

Snakeeyes's picture

Europe going down in flames, Bernank (the wicked witch of the west) WILL do QE to get Obama reelected.

Jlmadyson's picture

3.2B from debt to debt for Greece....MAGICAL

How they have kept the system up this long is a miracle.

Grinder74's picture

Dude, Scarerow needed the brain; Tin Man needed the heart.  This isn't some ridiculous Tim Burton re-write; or is it?

Dr. Engali's picture

Somebody smoked a big doobie before writing their piece this morning. He didn't even get the story right.

Oleander's picture

He will soon be contacted by repesentitives of the Lollipop Guild.


GMadScientist's picture

Asking for his dues in mental midget local 411.

Haager's picture

It seems that the dead witch is the BoE, not really able to act on this issue. The evil witch from the west looks to be the Fed.

Isn't Merkel the tinman w/o heart, Monti the scarecrow - still missing the brain, Draghi the lion having actually found some braveness? 

I feel like Toto, but who holds me?

GMadScientist's picture


TInman -> Merkel

Scarecrow -> PIGS / Underwater "home-owners"

Cowardly Lion -> Tsipras / RP

Dorothy -> Iceland

OZ -> Bernank / ECB / IMF

Wicked Witch of West -> China

Flying Monkeys -> Foxconn

Poppies -> EBT Cards and Pensions

Munchkins -> Disaffected "voters" left and right who could fight back, if only they fought together


BLOTTO's picture

Wizard of Oz - Royal *OCCULT* Bloodline

Witch of North (good witch) - Upper Tier Shill for Royal

Wicked Witch of the East (house dropped on her) - Upper Tier Shill (that served her purpose).

Wicked Witch of West (bad witch) - Upper Tier Shill for Royal

Munchkins - Sheep

Dorothy - Sheep

Tinman, Scarecrow, Lion - Sheep

Emerald City Workers - Sheep



BLOTTO's picture

After doing a bit of research -

The 'ruby slippers' Dorothy was to wear were orginnaly silver.


From wiki - to be taken with grain of salt of course...

The Gold Standard representation of the story

See also: Political interpretations of The Wonderful Wizard of Oz

Baum did not offer any conclusive proof that he intended his novel to be a political allegory. Historian Ranjit S. Dighe wrote that for sixty years after the book's publication, "virtually nobody" had such an interpretation until Henry Littlefield, a high school teacher.[31] In his 1964 American Quarterly article, "The Wizard of Oz: Parable on Populism",[32] Littlefield posited that the book contained an allegory of the late 19th-century bimetallism debate regarding monetary policy.[33] At the beginning of the novel, Dorothy is swept from her farm to Oz by a cyclone, which was frequently compared to the Free Silver movement in Baum's time.[32] The Yellow Brick Road represents the gold standard and the Silver Shoes which enable Dorothy to travel more comfortably symbolizes the Populist Party's desire to construct a bimetallic standard of both gold and silver in place of the gold standard. She learns that to return home, she must reach the Emerald City, Oz's political center, to speak to the Wizard, representing the President of the United States.[32] While journeying to the Emerald City, she encounters a scarecrow, who represents a farmer; a woodman made of tin, who represents a worker dehumanized by industrialization; and a cowardly lion, who represents William Jennings Bryan, a prominent leader of the silverite movement.[34] The villains of the story, the Wicked Witch of the West and the Wicked Witch of the East, represent the wealthy railroad and oil barons of the American West and the financial and banking interests of the eastern U.S. respectively. Both these groups opposed Populist efforts to move the U.S. to a bimetallic monetary standard since this would have devalued the dollar and made investments less valuable. Workers and poor farmers supported the move away from the gold standard as this would have lessened their crushing debt burdens. The Populist party sought to build a coalition of southern and midwestern tenant farmers and northern industrial workers. These groups are represented in the book by the Good Witches of the North and South.[citation needed] "Oz" is the abbreviated form of ounce, a standard measure of gold.

Littlefield's thesis achieved some popular interest and elaboration[35] but is not taken seriously by literary historians.[36][37]

Bradley A. Hansen, a professor of economics at the University of Mary Washington, disagreed that the novel is a monetary allegory. He argued that the numerous intersections between both the individuals and happenings in the novel and those in the 1896 presidential election are the central evidence upon which proponents of the allegory depend. Further stating that research has shown that neither Baum's works nor his life history indicate that he supported Populism, Hansen concluded that "the true lesson of The Wizard of Oz may be that economists have been too willing to accept as a truth an elegant story with little empirical support, much the way the characters in Oz accepted the Wizard's impressive tricks as real magic".[34]

Temporalist's picture

Young Presidents’ Organization latest confidence survey shows a notable drop for the second quarter the largest decline since the survey began in 2009



aleph0's picture


If you liked the symbolism in "The Wizard of Oz", then check out the Film Momo from Michael Ende ca. 1986 :


Momo ...   Moment ( in time )
The Men in Grey ...    The Time Robbers via Debt slavery
Professor Secundus Minutus Hora ... Second Minute Hour


Momo -The Movie (in english language) 1986 #6
(last part)


Wikipedia : 

... This pleasant atmosphere is spoiled by the arrival of the Men in Grey, eventually revealed as a race of paranormal parasites stealing the time of humans. Appearing in the form of grey-clad, grey-skinned, bald men, these strange individuals present themselves as representing the Timesavings Bank and promote the idea of "timesaving" among the population: Supposedly, time can be deposited to the Bank and returned to the client later with interest. After encountering the Men in Grey, people are made to forget all about them but not about the resolution to save as much time as possible for later use. Gradually, the sinister influence of the Men in Grey affects the whole city: life becomes sterile, devoid of all things considered time-wasting, like social activities, recreation, art, imagination, or sleeping. Buildings and clothing are made exactly the same for everyone and the rhythms of life become hectic. In reality the more time people save the less they have; the time they save is actually lost to them. Instead, it is consumed by the Men in Grey in the form of cigars made from the dried petals of the hour: lilies that represent time. Without these cigars the Men in Grey cannot exist.

Momo, however, is a wrench in the plans of the Timesaving Bank thanks to her special personality. The Men in Grey try various plans to take care of her, derailing her from stopping their scheme, but they all fail. When even her closest friends fall under the influence of the Men in Grey in one way or another, Momo's only hope to save the time of mankind is the personification of Time Professor Secundus Minutus Hora (Second Minute Hour) and Cassiopeia, a tortoise which can communicate through writing on her shell and can see thirty minutes into the future. Momo's adventure will take her from the depths of her heart, where her own time flows from in the form of lovely hour-lilies, to the lair of the Men in Grey themselves, where the time people believe they save is hoarded.

Wikipedia :

insanelysane's picture

I think we are all surprised by how long extend and pretend is lasting.

GetZeeGold's picture



I'm going to pretend I didn't hear that.


francis_sawyer's picture

BERNANKE! ~ You billowing bale of bovine fodder!

DRAGHI! ~ You clinking clanking collectiopn of collagenous junk!

GMadScientist's picture

Oscar Zoroaster Phadrig Isaac Norman Henkel Emmannuel Ambroise Diggs

acetinker's picture

I dunno Mr. Grant, could it be that we are looking at this from the wrong perspective?  By this I mean that the southern Europeans have fertile soil, a temperate climate and a well established culture.  The northern faction has.... well, you know, financialization bias and not much else.

Be interesting to see who, exactly, has the upper hand here once it all washes out.

GMadScientist's picture

That's why they're fighting tooth and nail to save their precious Zooro and Monti and Draghi think they have baby backed into a corner.

They had that soil before they joined the Zooro too. ;)

rsnoble's picture

Get laid off in this environment and it's like getting dropped off on the Island for Misfit Toys.

LouisDega's picture

Translation: Dorothy and Toto love Bluestar

buzzsaw99's picture

Merkel is mad because somebody dropped a house on her sister.

youngman's picture

But hey...the Euro is over 1.24........and the European markets are up....up up and away.....I just wanna go home...I just wanna go home....

ltsgt1's picture

Where is the yellow brick road?

tomgilb's picture

It's the scarecrow that thinks he needs a brain, but he's actually the smartest of them all.

williambanzai7's picture

From Troika of PONZ


williambanzai7's picture

From Troika of PONZ