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Nigel Farage Batters Barroso But Noyer Self-Deludes On European Crisis Ending

Tyler Durden's picture


Juxtaposing the market's recent movements, Nigel Farage's 'when-not-if' perspective on the end of the Euro, Weidmann's concerns, and now ECB's Noyer stunning self-delusion that, as Bloomberg notes:


is more than some can bear. As Mr.Farage notes, in the face of the rapidly deteriorating situation in Europe, Barroso and his colleague's ever-smiling perspective on the Euro, "look ridiculous". With Spanish yields over 6%, banks trading at near record high levels of funding costs, Italian risk elevating, political event risk becoming critical, and now macro data turning even worse perhaps Noyer's comments that "delaying fiscal consolidation may lead to greater risks" are spot on - and yet nation after nation rises-up votes to 'deny' austerity.



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Mon, 04/23/2012 - 13:53 | 2367601 Eireann go Brach
Eireann go Brach's picture

Bloody hell you are a rotten nincampoop Barruso, I would take my grannies knickers and strangle your tiny little head with them and jolly well hope you die!

Mon, 04/23/2012 - 14:07 | 2367702 Pladizow
Pladizow's picture

Politicians are like diapers, they need to be changed often and for the same reason!

Mon, 04/23/2012 - 16:47 | 2368358 Zero Govt
Zero Govt's picture

..and "democratic Govt" is like a sewer, total crap always going down hill

Mon, 04/23/2012 - 17:37 | 2368502 Belarusian Bull
Belarusian Bull's picture

Thank you sir, this will be my quote of the week.

Mon, 04/23/2012 - 22:34 | 2368963 l1xx3r
l1xx3r's picture

but also like diapers, we need to grow out of them...

Mon, 04/23/2012 - 20:35 | 2368816 philipat
philipat's picture

It's tragic that the only politicians who tell it like it is, Ron Paul and Farage are good examples, are not listened to by the masses, who are presumably too busy watching "Dancin' with Stars".

As the saying goes, "In a democracy, you get the Government you deserve".

Mon, 04/23/2012 - 21:38 | 2368902 Freewheelin Franklin
Freewheelin Franklin's picture

The Tyranny of a prince in an oligarchy is not so dangerous to the public welfare as the apathy of a citizen in a democracy.

- Montesquieu,
Spirit of the Laws.

Tue, 04/24/2012 - 14:20 | 2370729 Leopold B. Scotch
Leopold B. Scotch's picture

I'll take apathy of the masses over dangerous morons voting us into shackles....

Mon, 04/23/2012 - 13:45 | 2367607 mayhem_korner
mayhem_korner's picture



Let's hope they can hold it together long enough for the conclusion of the Spanish Primera season...

Mon, 04/23/2012 - 14:36 | 2367821 redpill
redpill's picture

And hopefully no major injuries, the players are worth more as bond collatoral when they're healthy.

Mon, 04/23/2012 - 13:45 | 2367611 navy62802
navy62802's picture

When you hear the words "And now we'll hear from Mr. Farage ..." you know it's gonna be good. Haha, this guy's got balls.

Mon, 04/23/2012 - 13:51 | 2367641 surf0766
surf0766's picture

clone him 1000 times and send them abroad to spread truth.

Mon, 04/23/2012 - 16:47 | 2368356 Bollixed
Bollixed's picture

We have room for 535 of those clones to replace the 535 clowns on this side of the pond...

Mon, 04/23/2012 - 13:58 | 2367671 GOSPLAN HERO
GOSPLAN HERO's picture

Mr. Farage is a statesman.

... and true statesmen are hard to find these days.

Mon, 04/23/2012 - 14:21 | 2367749 It is a bargin ...
It is a bargin my friend's picture

As much as i admire our Nige, he speaks the truth becuase he can afford too cos he has no power to effect thngs, give him a mandate and who knows, politicans......I'd shit em for breakfast

Mon, 04/23/2012 - 16:52 | 2368377 Zero Govt
Zero Govt's picture

our Nige would be no better than the rest of the miserable lot although he's got private skills so at least he's employable

we don't need leaders or representatives, we can do it ourselves without the rotten thieving clown show that is Govt

Mon, 04/23/2012 - 13:46 | 2367612 BlueCollaredOne
BlueCollaredOne's picture

I fucking love his tirades. 

He presents the truths that the rest of the crooks in that room know, but don't want anyone else to know. 

Mon, 04/23/2012 - 13:50 | 2367629 Bay of Pigs
Bay of Pigs's picture

Yes, but look at those stupid assholes laughing about it next to him.


Mon, 04/23/2012 - 14:04 | 2367692 Manthong
Manthong's picture

I wonder if we could hook him up with Ann Barnhardt?

Mon, 04/23/2012 - 14:05 | 2367699 Treason Season
Treason Season's picture

First they ignore you, then they laugh at you, then they fight you , then you win.

Mon, 04/23/2012 - 14:18 | 2367761 Non Passaran
Non Passaran's picture

It's great to see them grinning. Fools. Years later we'll be able to show these records and ask "who is laughing now".
Also this material may be admitted in the court of law.

Mon, 04/23/2012 - 21:41 | 2368906 Stuck on Zero
Stuck on Zero's picture

Nigel talks about "spreads" in his rant.  How many of our Senators and Congress critters would understand what he's talking about?  Five, maybe ten?  Any bets?

Mon, 04/23/2012 - 16:05 | 2368183 Don Diego
Don Diego's picture

the ones that laugh are fewer and fewer than in his past interventions...

Mon, 04/23/2012 - 16:25 | 2368259 f16hoser
f16hoser's picture

Very True. Excellent observation.

Mon, 04/23/2012 - 19:11 | 2368678 smiler03
smiler03's picture

One of the sad things is that Barroso and his ilk will have solid gold pensions on top of their bloated salaries and expenses.

Or maybe, just maybe, their pensions will go down the same plughole as everybody elses?  I'm crossing my fingers and hoping.

Mon, 04/23/2012 - 13:48 | 2367619 LULZBank
LULZBank's picture

Nigel Farage gets bitch slapped by Phony Blair.

Mon, 04/23/2012 - 14:22 | 2367774 aleph0
aleph0's picture

LOL ... Blair says in reply ... "We get a Europe that is Unified"

ROTFLMA ... I'd say it was the other way 'round, Blair got bitch-slapped , to use your own words.


Mon, 04/23/2012 - 14:56 | 2367903 Shizzmoney
Shizzmoney's picture

Watching Blair's reply to Farage in 2005 made me think of this clip:

I guess in the end, it was Farage who was right, triumphing *freedom* and *democracy* in Euro in order to save its union......and not the other way around.

Mon, 04/23/2012 - 19:23 | 2368698 smiler03
smiler03's picture

bliar (sic) is the Devil Incarnate and guilty of war crimes along with his buddy gwb. May bliar rot in his newly discovered catholic hell. He is the überasshole of brown the fascist thief. 

deliberate lower case for the lowest of low scum.

Mon, 04/23/2012 - 14:46 | 2367870 Rubicon
Rubicon's picture


Tue, 04/24/2012 - 05:16 | 2369225 Ar-Pharazôn
Ar-Pharazôn's picture

Mr. Farage is like Chuck Norris... you cant bitchslapping him....

Mon, 04/23/2012 - 13:49 | 2367625 ArrestBobRubin
ArrestBobRubin's picture

I want some of whatever Noyer's puffing on. Was he making these comments while in Amsterdam?

Mon, 04/23/2012 - 14:08 | 2367710 Dick Darlington
Dick Darlington's picture

In my books he won the "Mr denial of 2011" trophy and is among the serious candidates to win also this year. What a muppet!

Mon, 04/23/2012 - 13:49 | 2367626 mayhem_korner
mayhem_korner's picture



This is not important...CNBC running 4 straight stories on WalMart, so that must be important.

Mon, 04/23/2012 - 13:58 | 2367673 UP Forester
UP Forester's picture

Bring out the Fluffers!

Damn the torpedoes, BTFD!

Mon, 04/23/2012 - 13:50 | 2367628 midgetrannyporn
midgetrannyporn's picture

"fiscal consolidation" sounds like what we have in the usa. The maggots get all the money, the muppets get all the bills.

Mon, 04/23/2012 - 13:50 | 2367635 junkyardjack
junkyardjack's picture

The first step in a recovery is admitting you have a problem, bullish

Mon, 04/23/2012 - 13:53 | 2367647 slaughterer
slaughterer's picture

Farage will just incite Barossa to run to his office to get on the hotline to Draghi to get the ECB to save the Euro dream once again. 

Mon, 04/23/2012 - 14:38 | 2367830 ATM
ATM's picture

and this is the answer. The Euros as well as Americans Japanese Chinese Brazilians, Indians, Mexicans, Canadians, Australians....will all do the same thing. This is a race and it is to the bottom. Print Baby Print is the cry and it is all they can and all they will do.

The answer to declaring debts null and void, to paying off unpayable debts and all the other threats of massive debts is the same thing  - print.

So printing it will be.

Mon, 04/23/2012 - 19:29 | 2368710 smiler03
smiler03's picture

But who will default first? I'm hoping it's Greece, second guess Portugal, my 100 to 1 shot is Ireland. I'm talking about sovereign debt, not bank bailouts [Iceland]. 

Mon, 04/23/2012 - 13:50 | 2367636 SheepDog-One
SheepDog-One's picture

I vote for austerity for those like Noyer and Weidman and Von Rompuy, seize their assets and throw them all in jail.

Mon, 04/23/2012 - 17:02 | 2368412 ArrestBobRubin
ArrestBobRubin's picture

Yaaaa! I mean, Baaa!

Mon, 04/23/2012 - 13:51 | 2367638 Quinvarius
Quinvarius's picture

As soon as "confidence" becomes the buzzword to save the economy, you know you are screwed.  A ponzi scheme would also work if everyone had confidence.  Bank runs won't happen if everyone had confidence.

I have confidence in math.  It says great things about gold and bad things about the economy.

Mon, 04/23/2012 - 14:39 | 2367835 ATM
ATM's picture

I've made the same observations. When the Bernenke speaks of confidence in banks he knows exactly of what he speaks. It is all about confidence because that is all they have.

Mon, 04/23/2012 - 13:51 | 2367639 bank guy in Brussels
bank guy in Brussels's picture

Offbeat curious article about upcoming 'arrests' of the European Union Commissioners, and others...

Not saying one should believe this ... but it is cheerful, optimistic, fun reading ... predicting the shortly upcoming complete downfall of the Bankster Cabal and the 'New World Order' ... by various nations' military forces suddenly working together against the political rulers ...

« ... these arrests will include those at the very top of the pyramid including within organizations as powerful as can be found on the planet. These groups that will be targeted are: the Committee of 300; the Bilderberg group; the Council on Foreign Relations; the Club of Rome; the Trilateral Commission and the European Commission. »

'Are militaries around the world preparing for final take down of New World Order cabal?'

Mon, 04/23/2012 - 13:54 | 2367651 SheepDog-One
SheepDog-One's picture

Sure hope so....if not we're pretty much fucked.

Mon, 04/23/2012 - 14:28 | 2367794 salvadordaly
salvadordaly's picture

WOW! Too good to be true. But if that was happening it would be uplifting to say the least. Nice read. THX.

Mon, 04/23/2012 - 19:32 | 2368720 smiler03
smiler03's picture

THX?!?  ;O)  Superb sound effect...

Tue, 04/24/2012 - 00:46 | 2369104 Deo vindice
Deo vindice's picture

bank guy - I wasted 3 minutes of my life on that silly link.

When I read the following I realized it was just one group trying for a NWO debunking another.

The Oneness University, out of southern India, and its leader Sri Bhagavan, are openly speculating that by the end of 2012, there will be 70,000 enlightened beings upon the Earth. This 70,000 is the critical mass number needed to shift the entire planet into a higher state of consciousness.


Tue, 04/24/2012 - 05:25 | 2369227 Ar-Pharazôn
Ar-Pharazôn's picture

poor you that you really believe this bullshits

Mon, 04/23/2012 - 13:54 | 2367650 LongSoupLine
LongSoupLine's picture

Nigel's an air freshener...hanging in a rotting landfill.

Mon, 04/23/2012 - 13:54 | 2367654 lolmao500
lolmao500's picture

Barroso is a fucking hack and should be hanged. That's what maoists like him deserve.

Mon, 04/23/2012 - 17:08 | 2368426 ArrestBobRubin
ArrestBobRubin's picture

Oh gawd yes! I really hate those damn Godless MyAssOff-ists too! The only good kind is the dead kind.


Mon, 04/23/2012 - 13:55 | 2367655 Amagnonx
Amagnonx's picture

Nigel Barrage gives the would be EU lords (who may more closely resemble petulant children) a broadside - it seems however, even as the cannonballs tear off their fat childish heads, they seem unwilling to admit the fact they are already dead.


Headless zombie bureaucrats will not doubt continue to stride purposefully across the map, in search of the living, whom to devour with debt, austerity, fascism and inflation.

Mon, 04/23/2012 - 13:55 | 2367656 Sandmann
Sandmann's picture

The Euro is a Religious Symbol to a Non-Christian Euro Secularist Elite which has enshrined the Neo-Socialist Cult of Europa in its Weltanschauung. They cannot recant and will go to the flames as True Believers just as they did in the Bunker in Berlin or in Friedrichstrasse as the Soviet tanks entered the heart of the city.

This is Euro-Fanaticism in its latest incarnation - they simply don't have uniforms just titles

Tue, 04/24/2012 - 02:25 | 2368534 Ghordius
Ghordius's picture

Euro-Fanaticism? Who? Farage? Or you, on the other side?

Because the only two things he says in this clip is: - the whole damn thing started with too low rates and - if every country had their own currency they could devalue. Right. Sounds like cultism. Very fanatical. Even in reverse.

Seriously, the Pro/Contra EUR discussion in the UK has become idiotic.

"Religious Symbol to a Non-Christian Euro Secularist Elite which has enshrined the Neo-Socialist Cult of Europa in its Weltanschauung" - seriously? A multi-peg agreement would have the same religious connotations for you?

Tue, 04/24/2012 - 04:16 | 2369201 Sandmann
Sandmann's picture

I don't need Farage to tell me anything about the Euro. I know its architecture and its original form in The Werner Plan. It was simply a French template forced on the Bundesbank in return for agreement to German Unification purely because Churchill gave France a Zone of Occupation in Germany which they did not have to fight for. The only other German Ally to get a slice of the pie being the USSR with which France was closely allied post-WW2.

So France having forced their stupid Cascade Turnover Tax (VAT) onto the nations of Europe and its Agricultural Subsidy Policy to buy rural votes (CAP) now wanted control of the symbol of West German success - the Bundesbank and Deutsche Mark. Ever since it did so in 1999 it has been disastrous and Europe has barely grown. It has required easy credit in the Anglo-Saxon world to keep the global economy afloat. It would have been better for the Club Med countries to have pegged to the US Dollar and experienced growth rather than a Post-Unification Germany which needed to contain costs and did mnot want to let its D-Mark appreciate and choke off exports.

Ghordius, you seem to have a fetish about national identity in economic arguments as if it is simply a "UK" position to state that a parity system is disastrous whilst you are a Believer rather than using any analytical capability. The US and Canadian economies are more closely integrated than any EU economy and each has a separate currency.


Tue, 04/24/2012 - 12:21 | 2370247 Ghordius
Ghordius's picture

I'm happy for having turned an original comment from you that consisted in a few gut-feeling pictures of madness in something that could be the start of a serious discussion. If I did not have any faith in your analytical and critical thinking skills I would have not bothered.

So you are explaining the EUR as a Franco-German deal. Ok. And the other 15? Why did they join? The popular anti-EUR explanation is that they smelled a "bonanza", which I reject at the moment.

Except from sporting an EUR symbol as avatar - it has great recognition value and it really, really annoys the "faithfuls of the other side", I do not have a particular fetish for any currency at all. In fact, I would have advocated to adopt the mighty US Dollar. And I would have even advocated joining the USA. Because we, the countries of the EU, are anyway allies & borderline vassals of the empire. I know, I know, unthinkable...

My "faith" in the EU/EZ is based on two things: there is a very little acknowledged size advantage in a greater currency zone that for me explains the fact why both USD and EUR have the current levels and there is a very little acknowledged size advantage in a continental-size trading zone that keeps the european industry mostly intact, or at least efficient enough not to be deconstructed and shipped to Asia. Size in the sense of "optimum size" compared to the "others".

Many products and services today need a continental size supplier & customer base, for example airplanes or cars - you did notice that France and the UK were able to build the Concorde years ago - nowadays two countries this size would not be able to make something similar even for a costs-don't-matter pride program like that. Did you notice that car builders nowadays think that if you don't produce 5m units per year you can quit? Which UK/F/BRD/I/Sp-sized country has a competitive own/national car builder?

The same applies to miriads of multi-stage products and processes that thanks to the EU and the EZ can be done, with a hard cost calculation that is, IMHO, the basis of competitiveness.

No, we are in a currency war situation, look around and you'll notice that the QE/LTRO-swelled hyperleveraged speculators would love to have the EUR decomposed in 17 easily targeted currencies that would now wildly fluctuate according to the news and rumours of the moment.

Yes, the Canada/USA comparison is apt, but I'd say the size differential is so great that it defeats a comparison - probably a bad argument.

Have you ever looked at 20years charts for GBPCHF? The two more important non-EUR currency of europe? What do you see?

Tue, 04/24/2012 - 15:14 | 2371056 Ghordius
Ghordius's picture

"Have you ever looked at 20years charts for GBPCHF? The two more important non-EUR currency of europe? What do you see?"

I don't mean to make a rethorical question - I am really interested to know how you read it.

Tue, 04/24/2012 - 07:52 | 2369316 GeneMarchbanks
GeneMarchbanks's picture

Seriously, the Pro/Contra EUR discussion in the UK has become idiotic.

The question should be: why is this a discussion in the UK at all? Is their money funnel 'economy' humming along at full speed?

While this squeeze is going to bring social spending to a freeze at least it's being seeing as a debt sustainability problem. Even Taleb said as much(owns Euros btw) the alternative seems good so far, but is really the most destabilizing move possible. As the false sense of security settles in in the UK+US from two episodes of 'easing', watch what happens when they enter hyper-warp speed.

UK: Eternally in others' business. Psy-ops, nothing more as usual.

Mon, 04/23/2012 - 13:55 | 2367657 TooBearish
TooBearish's picture

Nigel Farage is to the EC what Ron Paul is to the US - great truth teller with no long term upside ...too sad

Mon, 04/23/2012 - 14:09 | 2367715 BlueCollaredOne
BlueCollaredOne's picture

I disagree.

While Farage and Paul may be run out of town, they are merely the personification of the idea of liberty. 

I think someone once said "you can't kill an idea."

Mon, 04/23/2012 - 14:23 | 2367777 Thomas Jefferson
Thomas Jefferson's picture

The idea of liberty in Europe is what color hoodie you are going to wear.  Europe is dead forever.

Mon, 04/23/2012 - 14:29 | 2367796 anomalous
anomalous's picture

Right on.

W/ all the giggling and churlish muttering for a second there I thought I was watching one of the early GOP debates.

Go Ron Paul!

Tue, 04/24/2012 - 04:45 | 2369213 Colonial Intent
Colonial Intent's picture



Read up on farage's work advising thatcher, he is no libertarian.

Farage would despise ron paul if they ever met and vice versa.

Are you yanks really so dumb as to fall for some populist bullshit, oh wait you voted bush in to save you from gay marriage and then obama to save you from bankruptcy................ guess i answered my own question.

Mon, 04/23/2012 - 14:05 | 2367668 carbonmutant
carbonmutant's picture


Are they referring to the French elections or the collapse of the Dutch Government or the EU's Core PMI?

Mon, 04/23/2012 - 14:13 | 2367723 Dick Darlington
Dick Darlington's picture



There, fixed it for ya.

Mon, 04/23/2012 - 14:01 | 2367680 Dick Darlington
Dick Darlington's picture

Barroso should be renamed as "Borrow-or-so"

Mon, 04/23/2012 - 17:15 | 2368448 ArrestBobRubin
ArrestBobRubin's picture

We must Borrow-so I can live like this while all of you little people toil away to pay for my lavish lifestyle as an unelected eurocrat and bloviating banksters butt boy.

Mon, 04/23/2012 - 14:02 | 2367681 Beaver_Valley
Beaver_Valley's picture

...except one of the hecklers was right - us brits are also a long way up Shit Creek. Doesn't matter if you can print money and buy your own debt for short term relief, long term it isn't sustainable. This applies to the yanks too, but hell, I'm preaching to the converted.....

Mon, 04/23/2012 - 19:38 | 2368728 smiler03
smiler03's picture

I wish the GBP would start falling against the USD. My $ denominated AG ETFs are up the creek without a paddle.

Ooops, I said ETF, better downvote me.

Mon, 04/23/2012 - 14:05 | 2367695 Freegolder
Freegolder's picture

Noyer is correct of course, banking and credit conditions are better in the Eurozone since LTRO. Farage must me mad if he thinks the UK are any better off...the UK is just QEing to hide the reality. And no, the Euro will not fail, just a few poorly run countries, feeling the effects of a debt-bubble bursting.

So, the sovereign states are going to suffer real painful austerity, welcome to reality.

I really really wish ZH would take a it for QE (ala US, Japan, UK), or is it for austerity/reality.

At the moment it mocks everything, which is somewhat odd.

I'd bet it is on the side of reality. So why the knocking of what is happening in Spain?

The ECB has one mandate, protect the currency. That is a noble calling, as savers wil not suffer in a high-inflation period, or via a currency collapse. Unlike in the US, UK and Japan.


Mon, 04/23/2012 - 14:14 | 2367740 Non Passaran
Non Passaran's picture

Noyer, that's a strange nickname for a ECB bureaucrat!
If the Euro will not fail, as Farage said, then what's the point because 10 years later debt-to-GDP ratios throughout the EU debt belt will be largely unchanged.
If you want to protect the currency then stop showering the fucking Euro-banskters with golden LTRO showers.

Mon, 04/23/2012 - 14:23 | 2367775 Freegolder
Freegolder's picture

Clearly you have not thought through what will happen if a dozen or so large banks in the Eurozone fail have you?

The ECB has a mandate of 'price stability', and that means avoiding a deflating situation as well as an inflating problem.

Huge bank failures will create deflation, as well as wipe out a load of savers too.

I can only imagine you and ZH writers and readers are on the side of debtors, as you seem to hate anything that protects savers.

Sovereign debt will be allowed to fail, banks will eat their losses over time, just not in one big chunk. The currency will survive and grow to be the strongest in the world (if you wonder why have a look at line 1 of the Eurosystem's quarterly balance sheet.

Do some more reading, ZH is biased, and doesn't perhaps appreciate the battle being waged across the Atlantic. Start at FOFOA and see how you go.

Tue, 04/24/2012 - 04:33 | 2369208 TWSceptic
TWSceptic's picture

You don't get it. You can't start bailing out the private sector, not even banks. Corporatism has never worked long term and always needed fascism to survive for as long as it does. And that's where we're headed now.


ZH is biased is the same as saying politics is biased, it's about who's got it right. People like you always exists in times like these, unable to see the true problems and disregarding others who do see them.

Mon, 04/23/2012 - 14:14 | 2367741 Saro
Saro's picture

When your economy is a bloated house of cards, trembling under its own weight, you can neither fix it by piling more cards on top (QE), nor by removing cards from the bottom (austerity).

Both of those "solutions" are mock-worthy.  The collapse of the system was inevitable from the moment they decided to start using monopoly money.  You can only juggle chainsaws until you can't anymore.

Mon, 04/23/2012 - 14:17 | 2367754 Au Shucks
Au Shucks's picture



Shill using the name of gold in vain


Shill offering a false dichotemy as our choice: QE vs. Austerity - as if those are the only two options


Shill or idiot?



Mon, 04/23/2012 - 18:12 | 2368566 Freegolder
Freegolder's picture

They aren't 'our' choices my golden friend, they are the choices of the natural selection process we commonly refer to as 'the market'.

The market knows that most of Europe is bust, hence Greece, Ireland, Portugal, Spain et al see their bond sales failing, rates rising, and eventual default. (yeah, and austerity of course). I'm all for the market punishing socialist idiot governments, and we all know there is no free lunch.Or do we?

You seem to indicate you prefer some middle ground? Just a few trillion of QE perhaps til it all goes away? Good thinking, you should volunteer for the Fed's Board.

Also, I suggest you spell-check big words in future.


Mon, 04/23/2012 - 14:18 | 2367758 Captchured
Captchured's picture

You throw QE and Austerity out there like they are options; kind of like voting Democrat or Republican. It is the system that has to change...not the options within the system.

Mon, 04/23/2012 - 18:03 | 2368555 Freegolder
Freegolder's picture

Can you not see that the system is changing? Really?

The system (i.e. the dollar-based international monetary system) is coming down as we speak.

Two ways it goes: sooner (by facing reality/austerity now0

                       :later (by currency collapse via repeated QE).


Europe chooses option 1.Sooner.   The US, UK and Japan choose option 2. Later.

One kills the currency, the other does not.

One day maybe ZH will do a piece that reflects that reality. I feel they get it, but fear the venom from those of you that do not.


We are headed for a better fairer world, but it will be a smaller world too, with standards of living diving in the indebted world, their lines of credit all gone.

It is a natural evolution by the way, it is inevitable.


Tue, 04/24/2012 - 05:49 | 2369234 Ar-Pharazôn
Ar-Pharazôn's picture

Is Benny directly paying you to write this bullshit?

Mon, 04/23/2012 - 14:19 | 2367762 azzhatter
azzhatter's picture

Thank you Mr Von Rumpoy

Mon, 04/23/2012 - 14:22 | 2367772 Encroaching Darkness
Encroaching Darkness's picture

This Farage clip is essentially a sound-bite; if you listen to his interviews on KWN, he is well aware that the UK situation is similarly screwed; he hopes that because Britain can still print its own toilet paper currency they can devalue and escape perdition somehow.

That being said, he is telling the truth as he sees it, a noble trait now vanishingly rare and to be encouraged when encountered.


Mon, 04/23/2012 - 18:01 | 2368546 Ghordius
Ghordius's picture

Ehm... He is talking the City of London book...

Mon, 04/23/2012 - 15:00 | 2367915 resurger
resurger's picture

i think you are on the wrong website

Mon, 04/23/2012 - 15:47 | 2368085 Freegolder
Freegolder's picture

Clearly 16 voters who are either debtors, or just would like to kick the can a little by debasing their currencies, Americans perchance?


Tue, 04/24/2012 - 05:38 | 2369229 Colonial Intent
Colonial Intent's picture

30 FOREX day traders down arrowed you!


Mon, 04/23/2012 - 16:35 | 2368300 f16hoser
f16hoser's picture

Germany is finally realizing that: Socialism ends when you run out of other peoples money. Bankers and Politicians need to be held accountable for their actions. When the music stops, let's see who doesn't have a chair. Hang him/her first and watch the others start singin' like a canary. I will guarantee you, bankers will swing before the politicians do. Iceland got it RIGHT!.... TBC

Mon, 04/23/2012 - 17:20 | 2368461 ArrestBobRubin
ArrestBobRubin's picture

Sorry, the "from Outer Space" content goes on the Star Trek bit on the other page today.

But, while we have you... what planet are you from, anyway? I'm guessing they CTRL-P there too?

Mon, 04/23/2012 - 14:14 | 2367743 boiltherich
boiltherich's picture

Does anybody know what forum he was addressing?  Was it the EU parliament?  Looked too small, perhaps some committee meeting. 

He and his UKIP take a lot of heat from the status quo types but I have never heard him say anything but the realistic truth, never inflammatory right wing threats and bluster.  Did you note the rudeness of others in the hall?  Trying to interrupt and catcall. 

When the eurozone does dissolve what do you want to bet that at least half of those people will say they secretly agreed with him all along but were forced to represent their government's point of view rather than their own. 

Mon, 04/23/2012 - 14:33 | 2367813 alfman
alfman's picture

as the president of EU-parliament (mr schulz, german socialist) announced Mr Farage to address the audience, it might be the EU-chatterbox. but i wonder where all the representatives are? too busy to work for the electorate?

Mon, 04/23/2012 - 14:30 | 2367801 dick cheneys ghost
dick cheneys ghost's picture

Question.......Does the Wall St/City of London/MIC/Washington Cabal want the euro to survive?


Do they even care?


Is the Euro a threat to The Dollar?


thanks in advance

Mon, 04/23/2012 - 19:46 | 2368739 smiler03
smiler03's picture

The FX markets are your guide (as opposed to Google).

Mon, 04/23/2012 - 14:31 | 2367804 q99x2
q99x2's picture

Can we vote in NWO/NATO countries yet? I vote for Nigel Farage if so.

Mon, 04/23/2012 - 14:33 | 2367810 The Onion Of Tw...
The Onion Of Twickenham's picture

I hate to burst your bubble guys, but while Nigel is good for a soundbite the truth is that UKIP are a bunch of certifiable loons.

Take a look at their track record in the European Parliament. So many of their MEPs jump ship, get expelled or are done for expenses fraud. The percentage is far higher than for the mainstream British parties.

They used to be led by the odious Robert Kilroy-Silk - a man elected as a Labour MP who joined UKIP for no other reason than because he has not a shred of principle except to promote himself and because he thought he could be a big fish in a very small pond.

And their candidate for Mayor of London has issued a manifesto which includes stupid pledges that he has acknowledged in a TV debate that he cannot possibly implement because they exceed the authority of the London mayor.

I know I'm going to gety like -100 recommendations but when you listen to Nigel bear in mind that he's the highly plausible public face of a bunch of morons.And I say that despite agreeing with everything he says.

Mon, 04/23/2012 - 14:42 | 2367848 dick cheneys ghost
dick cheneys ghost's picture

I love Nigel and could listen to him speak all day..........he appears to speak the TRUTH to the EU.......but is he telling the WHOLE TRUTH with regard to the City of London/Wall St/The Fed nexis and thus dollar hegemony and petrodollar wars?

Mon, 04/23/2012 - 16:45 | 2368346 Temporalist
Temporalist's picture

By your reasoning the entire US political system is corrupt...

Mon, 04/23/2012 - 21:35 | 2368897 Reese Bobby
Reese Bobby's picture


Mon, 04/23/2012 - 17:32 | 2368493 ArrestBobRubin
ArrestBobRubin's picture

"bear in mind that he's the highly plausible public face of a bunch of morons."

Well.... I see. Sounds pretty official there, Mr. Cameron.

And yet, that would make the UKIP bunch of morons any different from their "Labour" (Ha!), or "Conservative (Ha Ha!) counterparts in exactly which way then matey, hmmm?

That tag-team of traitors and fools has allowed England and Her fine people to be ass raped, non-stop, since after WWII.

Perhaps it's time you pass the reins to the other morons???

Tue, 04/24/2012 - 11:39 | 2370076 Sandmann
Sandmann's picture

UK Conservative MEP Roger Helmer has defected to the eurosceptic UKIP

Edward McMillan-Scott  Former leader of Tory MEPs joins Liberal Democrats
Mon, 04/23/2012 - 14:42 | 2367811 earleflorida
earleflorida's picture

The sad fact is "Big 'Bad' Benji", has backdoor'd the bail-out of the EU, prolonging their gradual decline that will now blow-up in everybody's face - rather than letting the free capitalist market's work their true intrinsic [vacuum cleaner] mechanism -- all the while with blinders-on, not realizing a grandiose faux`naif Chinese parley is at play, propping up the euro$,... thus floating its 'Junk' westward and onward -- whilst, the sun quietly sets on the west with not a ray of hope before dawn?

Ps. power in to few a-hands', is a sure fire temptress for a global break-down!

Mon, 04/23/2012 - 16:09 | 2367941 falak pema
falak pema's picture

Nigel Farrage has a huge reality staring him in the face which he ignores : the legs of Thatcherism and its ONE nut economy, all based on sucking in all the dirty money in the world into the ONE square mile that belongs, not to the people of Britain, but to the Queen : the CIty, land of offshore rehypotheticated derivative hanky-panky and Oligarchy uber-alles; like Wimbledon or Windsor. 

That is the reality of the UK economy today, one cancerous huge mega ponzi of the fiat derivatives financial economy with a level of debt which is gargantuan, that uses Oligarchical money to pay for Man U or Chelsea and the London Olympics, by buying London real estate, and which is totally disconnected with the real financial economy. If this bubble bursts Nigel Farrage will have derivative induced shit coming out of his ears. So his diatribes like a latter day Cicero against Euro Dictatorship, is flash in the mirrors. 

The biggest first world cancer is the private financial estate, all bubble accounting razmataz. The next level of corruption is the statist  deficit spending on welfare state maintenance beyond our collective means. It's TEN to FIFTY times smaller...depending on the size of the wind down and crash.

If first ponzi is fifty times the size of the second why is Farrage riling and biling about the second cancer and superbly ignoring the first; like a lot of other free market wankers. Answer that and you know who is a true democrat. Over and out.

Time will tell who pays the piper. It will be the people not the flash in pan populists who play at being matadors fighting the statist bull by the horns. That is Rome as it was under the Caesars. We are there.

Tue, 04/24/2012 - 11:32 | 2368352 Sandmann
Sandmann's picture

Falak Pema......So very true !

Tue, 04/24/2012 - 04:59 | 2369220 Colonial Intent
Colonial Intent's picture

Words are wasted on this subject, ZH wants confirmation of its own bias and prejudices not facts or debate, you need to keep it simple and use words like "muslim, socialist, comminist, patriot, gandalf, etc etc."

Farage is a stooge for the Sq mile, he gets far more money from their companies donations than his wage for being a Euro MP.

ZH only do political hack pieces based on emotion instead of reason.

Shame coz people here can rise above the dog whistle-blue/red team BS despite the articles tone, thats when you get real debate here.

If only the ZH political articles were anywhere near as good as their economic ones..........ah well back to for me.

Mon, 04/23/2012 - 15:13 | 2367955 rockraider3
rockraider3's picture

Van Rump Roast wasn't at the european parliament meeting?  He must have been out getting tenderized.

Mon, 04/23/2012 - 17:38 | 2368506 ArrestBobRubin
ArrestBobRubin's picture

No, the way I heard it, what happened was that a Rothschild needed his ass wiped back in town and Van RumpBoy immediately ran to the rescue.

Mon, 04/23/2012 - 15:33 | 2368008 monopoly
monopoly's picture

"Stop propping up something that should be allowed to die". Perfect words for this broken country.

Mon, 04/23/2012 - 15:50 | 2368109 Bubble
Bubble's picture

I heard Sarkosy on the radio earlier courting the 1 in 5 French people that voted for Le Pen for the next round of votes. A Jew courting the national front voter, who'd a thunk it? Shows you what politicians are, save for a very few like Nige. I imagine 1 in 5 will seem a small figure after the Dutch elections.

Mon, 04/23/2012 - 16:22 | 2368244 BudFox2012
BudFox2012's picture

We are screwed no matter what is done.  We have stage 4 economic cancer, and it is terminal.  Anything that is done now will simply be to ease the pain on the way down, and ultimately make the crash that much harder.  If only people had listen to the Farge's and Paul's sooner...

Mon, 04/23/2012 - 17:20 | 2368459 blueridgeviews
blueridgeviews's picture

When voting for a politician this year look at his past.  You'll know by the friends they keep and the deeds they have done whether they are good or bad. And remember, bad only begets bad.

Politicians aren't the only thing wrong with America today.  The people that vote them in, for whatever reason, are the problem.

Mon, 04/23/2012 - 18:12 | 2368565 DeficitAlchemist
DeficitAlchemist's picture

On a side bar For those that mentioned Wallmart... I quote the following reference :


'We were treated to a preposterous display of hectoring of allegations that Wal-Mart Mexico (prepare yourself for a shock) paid bribes to public officials for the legal right to do business in that country.

You see, to do serious business in America requires vast campaign contributions to several layers of elected politicians, an army of lobbyists in Washington, retired government employees on your board and public devotion to the American civic religion. It goes on every year and restarts every election cycle.

Even then, it is hard to know if you are going to get what you pay for.

It's easier and more efficient in Mexico. You pay bribes directly. The decision maker gets the money. He or she clears the path for you to do the thing. The facilitator takes a slice. People mostly keep their promises. The deal is done.

Apparently, bribe paying in the United States is a sign of a healthy, functioning democracy; doing the same thing in Mexico in a more streamlined way is a criminal violation of the standards of good corporate governance' - Agora guys..

Mon, 04/23/2012 - 21:04 | 2368854 Dburn
Dburn's picture

Well said.


There was a Forbes survey where readers clicked off the USA as being the most corrupt country to do business in. The largest complaint obviously is there is no centralized corruption, so people don't know if they are going to get what they are paying for. That's why I think that congress should hang a banner with a periodic 2:1 sale on policy and law. Summer, spring Christmas and periodic going out of business sales where everything must go.

 How about the Three Branch Mall where every legislator has their own store, along with stores for the Justice dept, and various other agencies. Then there should be the Executive Courtyard. (Sorry Marriot - eminent domain - pay higher bribes) where people with the big bucks can periodically utilize the unitary executives expanded powers to do all kinds of nasty things to their competitors.

By God we could have this debt paid down quick, as long as we have the taxpayer receivable factor corporation where 70% of every sales dollar collected goes toward debt reduction. Yes America, we are now on Cash only and Cash in advance with the world. Who'se cash? Well , lets wait and see?

Tue, 04/24/2012 - 04:06 | 2369200 Sandmann
Sandmann's picture

You cannot do business in the USA without a major law firm on retainer

Tue, 04/24/2012 - 05:08 | 2369221 bunnyswanson
bunnyswanson's picture

Or a lobbyist.

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