• Steve H. Hanke
    05/04/2016 - 08:00
    Authored by Steve H. Hanke of The Johns Hopkins University. Follow him on Twitter @Steve_Hanke. A few weeks ago, the Monetary Authority of Singapore (MAS) sprang a surprise. It announced that a...

Rajoy To de Guindos: "Spain Is Not Uganda"

Tyler Durden's picture




 

Yesterday, following the Spanish bailout, we finally concluded that contrary to endless politician lies, Spain is Greece. However, in keeping with the insolvent Eurozone's favorite Hegelian dialectic of definition by exclusion, it appears that Spain's leaders have been forced to aim lower. Literally. As in all the way in Africa. Because according to El Mundo's front page article, the text message that PM Rajoy sent from somewhere deep in Euro2012 to de Guindos, is essentially this: "España no es Uganda." This needs no translation. It also means that the people of Uganda should be happy. Very happy.

Obviously this move should not come as a surprise to anyone. Recall that it was two weeks ago that Nigeria decided to cut its European exposure. Last we checked, it still held on to Ugandan risk.

Sadly, not even The Onion could have come up with a story quite as David Lynchian.

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Sun, 06/10/2012 - 20:52 | 2513093 BigJim
BigJim's picture

That's right, because central banks are a result of the lack of government intervention (ie, regulation) in the monetary system *slaps himself on forehead*

Sun, 06/10/2012 - 21:07 | 2513113 SeattleBruce
SeattleBruce's picture

"One missing part from the story -- the bankers inserted themselves into government" - well at least in 1913, and probably well before that - many admins from both major parties covering that span...

"Meanwhile, they spent years complaining on their captive media that socialists are causing..." - Time for the 99.9% to meet somewhere in the middle - no?

Sun, 06/10/2012 - 22:12 | 2513182 Calmyourself
Calmyourself's picture

No, three parts missing from the story helga let her poor employees unionize unlike you and of course when helga dies all those years tending bar will have been wasted as her deserving grandchildren won't get shit because let them eat rand wants .gov to take all of it... right..

Mon, 06/11/2012 - 00:23 | 2513389 Terminus C
Terminus C's picture

Actually, a 100% estate tax would solve a lot of our problems.  No trust fund babies and it would build a merit based society and help remove entrenched power structures.

Mon, 06/11/2012 - 01:28 | 2513437 r00t61
r00t61's picture

And who would be in charge of overseeing and collecting this tax?  And who would be in charge of preventing this large pot of extracted money from being used to fund stealth crony redistributionist schemes?

Mon, 06/11/2012 - 02:35 | 2513518 SeattleBruce
SeattleBruce's picture

You'll sign up to be the Czar for that, right?

Sun, 06/10/2012 - 18:28 | 2512862 francis_sawyer
francis_sawyer's picture

I sense an upcoming role for Forrest Whitaker in this Hegelian dialect...

Sun, 06/10/2012 - 18:28 | 2512864 LeisureSmith
LeisureSmith's picture

qué3?


Sun, 06/10/2012 - 18:30 | 2512869 wonderatitall
wonderatitall's picture

sounds racist to me..the economy is doing fine. obama lies and people die

Sun, 06/10/2012 - 18:49 | 2512906 knukles
knukles's picture

Hey!
We no longer need debate the morality of trying the now just murdered terrurhists in civil or military courts of law.

Forward!

Sun, 06/10/2012 - 20:16 | 2513041 GMadScientist
GMadScientist's picture

That does save millions in court costs.

 

Sun, 06/10/2012 - 18:34 | 2512871 Zero Govt
Zero Govt's picture

don't they mean Spain will soon be Uganda?

with nearly 30% unemployment and the debt-fueled public sector yet to implode it won't take long to sheer Spains GDP numbers down to sub-Saharan levels

Sun, 06/10/2012 - 18:51 | 2512911 knukles
knukles's picture

EU's employment and Yobummah's approval fallin' so fast, they's gonna break the sound barrier.

Pass the jello.

Mon, 06/11/2012 - 12:59 | 2515223 Madrid2020
Madrid2020's picture

The worst thing that can happen in Spain is that it becomes a wealthy Argentina! Chill folks,most of us are headed for the coast this weekend.

Sun, 06/10/2012 - 18:34 | 2512877 Dezperado
Dezperado's picture

I like the quote in the upper side of "El Mundo".

It´s a phrase attributed to J. F. Kennedy  (I didnt know it ´til now) "We cant deal with someone who says "what is mine is mine, what is yours is negotiable""

Funny stuff... I dont want to negotiate the terms, I just want your money... Germany?

Sun, 06/10/2012 - 19:17 | 2512954 CrazyCooter
CrazyCooter's picture

I was just chit-chatting with my Dad about this over the phone a bit ago. We both agreed that Germany is trying to do economically what it could not do militarily. Neither of us was sure how this would really play out.

I try to follow ZH, keep up with the developments, and shape opinions about how this is going to unfold. Germany will want pledges of hard assets for assistance. They lent to these non-productive uses, supporting their economy via exports, so I think its hard to fathom this wasn't entirely unseen.

The cultures in the "northern blocks" seem to vary widely from those in the "southern blocks", where one group is pretty productive and the other pretty inefficient. Not picking winners here, just observing cultural differences in work ethic, savings, expectations, community, etc.

Personally, it seems to me that Germany will get what assets it can, partner up with "like minded neighbors", and probably get resource backing from Putin when this house comes down. Think about it, if the productive, wealth producing northern cultures, backed by Russias resources, walk from the EU, do whatever currency crap they have to do (gold? Deutschmark?), with claims on the rest of Europe's assets, they pretty much come out on top being able to set the terms. The Euro burns and he with actual physical assets wins. Russia will need a partner to turn their physical commodities into products the world needs. Not to mention a semi-functional economy is required to buy all their natural gas.

But, then again, it may just end up a rolling series of police state riot events, with disenfranchised Muslims, pissed off whities, unemployed youth, broke pensioners, and general chaos. Sort of like the French Riots, er, Revolution. That worked out great!

Regards,

Cooter

Sun, 06/10/2012 - 19:49 | 2513000 CompassionateFascist
CompassionateFascist's picture

No on one, yes on two. 

Sun, 06/10/2012 - 19:24 | 2512965 frenchie
frenchie's picture

what is mine is mine, what is yours is negotiable

wow, that is a quote from Talmud !

aka mine = jude / yours = goyim

so cute...

Mon, 06/11/2012 - 02:11 | 2513464 walküre
walküre's picture

We're all working for the welfare of the banking Jew.

I don't understand why the fuck Greeks or Spaniards point fingers at Germany. It's hardly the ordinary German who is putting the screws on. Throw the money changers out and get on with life.

It's systemic. The more things change, the more they stay the same.

Sun, 06/10/2012 - 18:36 | 2512882 jonjon831983
jonjon831983's picture

Wtf... just because you're the loser doesn't mean you should beat up on someone else down the totem pole.

 

Sun, 06/10/2012 - 18:38 | 2512884 anonnn
anonnn's picture

Solution: Hugo Salinas Price proposes silver coin  for Greece.

On Max Keiser's RT Today video. Starts about 12 minutes into video:

http://www.youtube.com/watch?v=Hhi2BBfbZU8

Sun, 06/10/2012 - 19:10 | 2512940 Oldrepublic
Oldrepublic's picture

Why doesn't the Mexican dollar billionaire Hugo Salinas Price get his silver coins proposal passed in Mexico?

Sun, 06/10/2012 - 20:31 | 2513060 Oracle of Kypseli
Oracle of Kypseli's picture

He has been trying. Politicians don't like it and we know why.

Sun, 06/10/2012 - 22:19 | 2513190 Doña K
Doña K's picture

"Hugo Salinas Price proposes silver coin  for Greece."

Those who have any money left, already can buy gold and siver coins. There are no restrictions in buying PM's in Greece or Mexico or anywhere else. What is the need for yet another silver coin?  

 

Sun, 06/10/2012 - 18:38 | 2512887 Bay of Pigs
Bay of Pigs's picture

Paella and sangria bitchez

Sun, 06/10/2012 - 18:44 | 2512894 lakeside
lakeside's picture

How you say, "los fucking cocos"! I think it means totally f'ing batshit/crazy.

Sun, 06/10/2012 - 18:46 | 2512901 Atomizer
Atomizer's picture

 

 

“Naturally the common people don’t want war: Neither in Russia, nor in England… nor for that matter in Germany. That is understood. But, after all, it is the leaders of the country who determine the policy and it is always a simple matter to drag the people along, whether it is a democracy, or a fascist dictatorship, or a parliament , or a communist dictatorship. Voice or no voice, the people can always be brought to the bidding of the leaders. That is easy. All we have to do is tell them they are being attacked, and denounce the peacemakers for lack of patriotism and exposing the country to danger. It works the same in any country.”

– Herman Goering, Nuremberg Trials 

“Today, America would be outraged if U.N. troops entered Los Angeles to restore order. Tomorrow they will be grateful! This is especially true if they were told that there were an outside threat from beyond, whether real or promulgated, that threatened our very existence. It is then that all peoples of the world will plead to deliver them from this evil. The one thing every man fears is the unknown. When presented with this scenario, individual rights will be willingly relinquished for the guarantee of their well-being granted to them by the World Government.”

-Henry Kissinger, Bilderberger Conference, Evians, France, 1991 

The brush of uncertainty cannot paint a portrait of utopia when the palette of ideas runs dry.

-Atomizer 6/10/2012

 

Yawns

Sun, 06/10/2012 - 20:01 | 2513019 CrazyCooter
CrazyCooter's picture

Interesting. So, the fate of a "one world government" is less likely/probable than a unified Europe? Hah!

I mean, for fucks sake, they couldn't even cobble Europe together. LA is full of a bunch of dumbasses (caveat: true only in the sense that generalizations are generally true - not absolute truths), but if the UN tried to save Nashville, Houston, or so on, god help em. Hell, even the gang banger dope heads may jump in on that one for the team.

The problem with the US in this scheme is two fold; guns and veterans. Too many of both to keep things so simple. With that said, the younger generations don't have the "qualities" of the older, but, the clock is ticking so maybe that comes back around. And those in their 20s are getting the "big red, white, and blue dick being jammed up their assholes every day".

If they want chaos, well, that didn't work out so well in history. So, I have to accept that broad, widespread chaos is the plan failing. Interested in counter points. It is in these moments where elites decorate lamp posts like bulbs on christmas trees. When people have their food security, physical security threatened, nature takes over. No elite can override thousands of years of nature selecting human behavior. Chaos, if controlled, can benefit, but true chaos is a reshuffle of the deck.

I don't know what is going to happen, but I think UN occupation of the US is pretty far out there. Martial law in major cities? Yup. UN martial law in US cities? Nope, because suddenly there is a "one world target". Fuck, I bet the police in most places would gladly sign up for defense of the people on that one. I think folks underestimate the average value/moral set of the police.

Regards,

Cooter

Sun, 06/10/2012 - 20:07 | 2513024 WonderDawg
WonderDawg's picture

The brush of banker hubris will paint a landscape of shit and tears when the palette of feces hits the fan.

Sun, 06/10/2012 - 20:33 | 2513056 newengland
newengland's picture

Well observed, Atomizer.

“The way to crush the bourgeoisie is to grind them between the millstones of taxation and inflation,” said Lenin.

We should remember that the Trilateral Commission led by Rockefellers and Rothschild seek technocratic governments, a new world order, a one world fascist government, a one world currency, and they will do everything to bail out banks and their EU/euro experiment; their freak corporatist agenda.

Rothschild funded Marx who beget the socialist and communist experiment in the former Soviet Union, Europe, the Far East - all their slaughter of unwary people by way of their freak Lenin, Trotsky, Mussolini, Hitler, Mao, Pol Pot etc...whilst collaborators in Big Brother government in the West and their biggest banks allowed it....until throwing all good people and money into the fire pit of their failed freak corporatist ways: WWI and WWII.

NDAA, SOPA, Obama, Romney and the rest are collaborators, bending the knee to the freak globalist central bank cartel, the Trilateral Commission, the psychopathic corporatists.

 
Sun, 06/10/2012 - 20:58 | 2513102 Conrad Murray
Conrad Murray's picture

Some reading that may be of interest: https://mises.org/daily/5607

Sun, 06/10/2012 - 21:27 | 2513123 newengland
newengland's picture

Conrad,

Thank you for the link. I feel much better when I see people like you putting together the relevant information.

'Information is light' (Tom Stoppard, English playwrite).

'As a man thinketh, so he shall be,' according to old New England books and ways.

Life is a team effort and I thank you for your vigilance, and generous spirit, sparing a moment to inform me.

Sun, 06/10/2012 - 18:49 | 2512905 Monkeyfister
Monkeyfister's picture

"Spain is not Uganda."

So stop saying that!

Yer gonna hurt Spain's Banksters fee-fees, and then you'll be sorry!

Sun, 06/10/2012 - 18:54 | 2512917 knukles
knukles's picture

"The lady doth protesteth too much, methinks."

Sun, 06/10/2012 - 18:54 | 2512920 JR
JR's picture

Well, I dunno; Luis protests but if you look at Luis’ backside, he has a tattoo of Lehman on him. He’s branded.

“In 2006, de Guindos was appointed advisor for Lehman Brothers and director of the subsidiary bank in Spain and Portugal, where he remained until the collapse and bankruptcy of the latter in 2008.” (Wiki)

Sun, 06/10/2012 - 19:04 | 2512937 john_connor
john_connor's picture

Uganda is not Spain

Sun, 06/10/2012 - 19:08 | 2512943 q99x2
q99x2's picture

More riot webcams.

Sun, 06/10/2012 - 19:10 | 2512947 Alpacanio
Alpacanio's picture

Bank of Italy's BNI just went into a bank holiday! All accounts frozen! Storys on Drudge...

Sun, 06/10/2012 - 20:19 | 2513044 my puppy for prez
my puppy for prez's picture

Try reading the google translated comment section.  Here is one:

"I am retired. earner., I do not know how to eat me and my family, let alone bills and taxes are credited to the pension all'impdap went to the post office where I lit a checking account, but at least the months of June and July will be credited to the bank commissioner. this from day to day seems like a nightmare, ironically, my pension is 1050 euros so I'll have 'recourse to a bank to be able to collect".

Alas...bankers now responsible for the zombie apocalypse in Italy!

Mon, 06/11/2012 - 02:29 | 2513500 walküre
walküre's picture

I find allot of links to the story on several blogs in English but try and find anything official. No such luck.

It's getting totally buried. Oh oh... Black Swan alert?

BANK RUN continues.

The real story is that the ECB is trying to stuff the holes from weeks of outflows and they can't get it to fucking stop. This is insanity! Hence the confusing PR on the Spain bailout. Spain never officially asked for a bailout. ECB "persuaded" Spain to make the announcement. Then you get dumb headlines like the one above, that Spain is NOT Uganda. WTF???

Germany has been completely caught off guard. Germans across the web are pissed and opposed to the bailout 90%.

Folks, we're in meltdown mode. The panic has started and the bankers and political leaders have no fucking clue what to do about anymore. Their lies are exposed. Their rumors are worthless.

Show me the money! It's not there. The derivative bomb is about to go POOF in 3,2,1 ..

Sun, 06/10/2012 - 19:12 | 2512951 GoodMorningMr.V...
GoodMorningMr.VanRumpoy...'s picture

Redshield Alert!

Split between Rothschild lineage and Goldsmiths played out on twitter. Maybe something good will spill...

http://www.telegraph.co.uk/technology/twitter/9321262/Goldsmiths-vs-Roth...

Sun, 06/10/2012 - 23:00 | 2513265 Careless Whisper
Careless Whisper's picture

Dewd, you deserve the best post of the day award. Kate Rothschild divorcing her husband because she's dating Black rapper Jay Electronica, who raps about JFK and the illumaniti. Too good to be true.

http://www.youtube.com/watch?v=nE4CFBY9RGs

 

Sun, 06/10/2012 - 19:25 | 2512968 hero HNL
hero HNL's picture

No, Spain is uganda...even with idi amin dada.

Sun, 06/10/2012 - 21:14 | 2513117 Greenie
Greenie's picture

Well, at least Spain is not Nigeria....yet

Mon, 06/11/2012 - 07:02 | 2513777 Lebensphilosoph
Lebensphilosoph's picture

No, but much of France is.

Mon, 06/11/2012 - 13:02 | 2515232 Madrid2020
Madrid2020's picture

You "be" right about that,more Gabon!

Sun, 06/10/2012 - 19:30 | 2512974 GriP
GriP's picture

The saga continues... Where have I heard this before?

Sun, 06/10/2012 - 19:32 | 2512977 hugovanderbubble
hugovanderbubble's picture

ALANDALUS RELOADED

Sun, 06/10/2012 - 19:35 | 2512982 kekekekekekeke
kekekekekekeke's picture

"David Lynchian" lol

 

They're just jealous because they don't have those meat hooks like in The Last King of Scotland, that gets shit done!

 

I wrote an intro to prepping for economic collapse blog post for young people should I add anything please?

Do NOT follow this link or you will be banned from the site!