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So Much Changes In Two Weeks

Tyler Durden's picture




 

"When it becomes serious, you have to lie", Jean-Claude Juncker

Mariano Rajoy from May 28, or 12 days ago: "No va a haber ningún rescate de la banca española." Or, more conveniently for the America-based readers: "There will be no rescue of Spanish banks." We have finally found the official Jean-Claude Juncker (and of course Tim Geithner) replacement.

 

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Sat, 06/09/2012 - 16:55 | 2510917 Sudden Debt
Sudden Debt's picture

I'll pay 20€ Extra with a IOU if you swallow

Sat, 06/09/2012 - 17:27 | 2510990 AldousHuxley
AldousHuxley's picture

so you are saying, "when it becomes serious, you have to swallow?"

 

then how serious does it need to get in order for you to take it up from behind like Americans are getting from banksters?

Sun, 06/10/2012 - 02:23 | 2511673 Tom Green Swedish
Tom Green Swedish's picture

Where's the waterboard crew when you need them?

 

http://www.youtube.com/watch?v=qUkj9pjx3H0

Sat, 06/09/2012 - 16:53 | 2510918 fightthepower
fightthepower's picture

Fuck you Bernanke, you make all of this possible!

Sat, 06/09/2012 - 16:56 | 2510928 financial apoca...
financial apocalyptic contagion's picture

Fightthepower's thought process

I'l just say fuck you bernanke" in the 1st post so i get maximum green votes and i cant think of anything else atm coz im a retard

he's a faggot who types "1st" on facebook memes 

Sat, 06/09/2012 - 17:12 | 2510963 The Monkey
The Monkey's picture

One of the better known phrases, "Read my lips."

The result: George was elected, and it came back to bite.

Sat, 06/09/2012 - 17:41 | 2511011 fightthepower
fightthepower's picture

Aaah, someone who works for the Fed's PR team, how nice. When the collapse comes, you will be dragged naked through the streets and hung from a lamppost. At which time, I will rejoice.

Sat, 06/09/2012 - 22:58 | 2511482 jez
jez's picture

You will rejoice by saying "Fuck you", I suppose?

Sun, 06/10/2012 - 03:09 | 2511696 putaipan
putaipan's picture

consider me 'juncked'. up yours big red arrow.

 back 'across the border' timmy.

Sun, 06/10/2012 - 04:48 | 2511743 financial apoca...
financial apocalyptic contagion's picture

I hate the Fed as much as anyone on the site

But don't go around like an attention-seeking whore that you are, posting the most stale comment of all

A lot of people do it, you were just made an example, now others will stop too

Sat, 06/09/2012 - 16:53 | 2510919 Olympia
Olympia's picture

Global Debt Crisis

The greatest private fraud of human history.
Who are the great fraudsters who are becoming the murderers of the human kind? How does the economy "illness" threaten Democracy and the freedom of people?

http://eamb-ydrohoos.blogspot.com/2012/01/global-debt-crisis.html
---------------------------------
By knowing what happened in indebted Greece, where loan sharks created “bubbles” and the current inhuman debt, one can understand the inhuman plan in total ...understand where this plan started just to bring all states at the same end ...understand how this type of plans are established...

Authored by PANAGIOTIS TRAIANOU

Sat, 06/09/2012 - 16:54 | 2510920 Boilermaker
Boilermaker's picture

Sorpresa!!!

Sat, 06/09/2012 - 16:54 | 2510925 jonjon831983
jonjon831983's picture

Quote of the year?

 

""When it becomes serious, you have to lie", Jean-Claude Juncker"

Sat, 06/09/2012 - 16:58 | 2510933 williambanzai7
williambanzai7's picture

I believe it was last year, but m losing count.

Sat, 06/09/2012 - 17:02 | 2510946 jonjon831983
jonjon831983's picture

Perhaps... but you forget it WAS this year because:

 

"When it becomes serious, you have to lie"

Sat, 06/09/2012 - 17:59 | 2511034 falak pema
falak pema's picture

great twitter parody WB7, loved it. Cheats never prosper, except with IMF backing, and; that comes at an exorbitant price, only the privileged don't get to pay; not the peons--they pay bigtime for the rest of their lives!!

Sat, 06/09/2012 - 16:58 | 2510934 Sockeye
Sockeye's picture

Surname of the ages.

Sat, 06/09/2012 - 16:59 | 2510939 Cursive
Cursive's picture

I'll vote it quote of the times (circa roughly 1983 to present).

Sat, 06/09/2012 - 17:00 | 2510942 Matt
Matt's picture

He didn't lie. what he meant was "There will be no bailout of Spanish banks today".

Sat, 06/09/2012 - 17:02 | 2510945 resurger
resurger's picture

then they will bail out Spain

Sat, 06/09/2012 - 16:59 | 2510937 TrainWreck1
TrainWreck1's picture

Tuco Benedicto Pacifico Juan Maria Ramirez Obama will bail them out from his stash.

Sat, 06/09/2012 - 17:37 | 2511006 Pure Evil
Pure Evil's picture

The Gang Of Choom to the rescue once again.

Sat, 06/09/2012 - 16:59 | 2510938 zebra
zebra's picture

EU: "if you accept our bailout, then your dirty little secret is safe with us."

 

Sat, 06/09/2012 - 17:01 | 2510940 Seorse Gorog fr...
Seorse Gorog from that Quantum Entanglement Fund. alright_.-'s picture

'Or, more conveniently for the America-based readers:...'

 

I doubt all of your readership that don't read Spanish but reads English are American. How about, 'Or, more conveniently for the non-Spanish readers:...'?

 

Get in!!!!

Sat, 06/09/2012 - 19:03 | 2511127 mkhs
mkhs's picture

Relax, it was probably a snarky way of saying americans are too lazy to learn a second language.

Sat, 06/09/2012 - 17:03 | 2510948 monopoly
monopoly's picture

Quote by the Swedish Prime Minister;

'We're Talking About One Of The Greatest Financial Rescue Operations The World Has Seen.... 

Excuse me, but did we forget about the hold up of the American people for 800 billion forced on us by a Mr. Paulson, to rescue failed banks, their king pins and stooges. We got one up on you.
Sun, 06/10/2012 - 07:23 | 2510949 dcb
dcb's picture

1) how do these people keep thei job. simple they support the elites

2) how could anyone be so stupid to think it wasn't going to happen

    a) rule 1 always applies. the elites that owe their wealth and power to a system will spend an unlimited amount of other people's money to preserve that system.

if the system falls apart, they loose the most, even if society as a whole gains. the thing they can never do is allow the new system to be established. that is the primary goal. the tactics are seen over and over on this site, and tyler mentions it. threats of war, rise of facistism, civil unrest, etc. But by spedning so many resourc3es to preserve a currupt system they ultimately create what they say they are attempting to avoid. Please see Arab spring, 'Syria, etc. This is in effect5 the history of every world revolutionary movement I can think of, including the american revolution and king george.

search


The Marxist intellectual Antonio Gramsci (1891–1937) developed cultural hegemony in aid to the development of a working-class worldview.

Cultural hegemony is the philosophic and sociological theory, by the Marxist philosopher Antonio Gramsci, which proposes that a culturally diverse society can be dominated (ruled) by one social class, whose dominance is achieved by manipulating the societal culture (beliefs, explanations, perceptions, values, mores) so that its ruling-class worldview (Weltanschauung) is imposed as the societal norm, which every social class then perceives as a universally valid ideology that justifies the social, political, and economic status quo — as natural, inevitable, and beneficial for everyone, rather than as artificial social constructs that benefit only the ruling class.[1][2]

(Note: just because I quote a marxist philosopher doesn't mean I don't recognize that this happened on the old communist block as well). it is the history of the leading elites throughtout time.

http://en.wikipedia.org/wiki/Cultural_hegemony

3) we were about to have a head and shoulders formation. not allowed. so there is a real reason this happened this weekend. if one notices they always adopt new policies at exactly this time. emerging mrakers as well. it's all about the charts folks

Sat, 06/09/2012 - 17:07 | 2510956 Goldtoothchimp09
Goldtoothchimp09's picture

 

 

You can think of it as a modern feudal system with Banks as King as they literally own the currency.  The serfs pay tribute (interest) to the King for use of the King's currency in our debt-based money system.  It's trickle down economics on the grandest scale.

In our debt-based system - money is ONLY created as loans from the King (banks).  Therefore, the banks solely determine where new money gets allocated (think largest corporate borrowers).  Is it no wonder we have such poisonous concentrations of wealth in our society. 

Now, say the gov't wants to stimulate a lagging economy.  In our system, the money gets allocated to the banks.  In a non-debt based system, you could send a stimulus check to every household and then the stimulus would actually work and get to Main Street. 

Folks, the problem is with the very core of our financial system -  the Banker as King - Federal Reserve system.

Jamie Dimon is using the newly created money to refresh his banks 'excess reserves' so as to maintain bank "solvency" and perpetuate the Banks as King system status quo.
The people get the bill in the form of a devalued dollar (devalued savings, commodity inflation) -- you see, the newly printed money is free for the King Bank but is a costly tax on the population.

It's all a rather simple exercise -- the parasitic banks steal from We the People. But our country is so complacent and dumbed down -- that MBAs and Economics majors are, ironically, the last people to recognize what's going down because they have been indoctrinized and go on television blathering on about the failures of We the People rather than helping the public understand that they are being stolen from. PATHETIC!

Interestingly, Ron Paul has consistently won the 30 and under vote in the primaries.

The young instinctively know that they have been born into debt servitude.  They may not be able to explain all the details - but they know, instinctively, that Ron Paul is fighting for We the People, rather than the status quo system of Fed Bankers as King.

It used to be that only the man of the household had to work to comfortable support a household.  Federal Reserve theft has gradually devalued the dollar so that now, generally, both spouses have to work.

There is nothing 'American' about the FED.  The Constitution says 'all men created equal'  Folks, the Federal Reserve Act of 1913 created a superior class of citizen - the banker class.  the Act gave ownership of the currency and financial system to a cartel of private bankers.  It is, literally, unconstitutional.

The Federal Reserve system is a poison to Americans’ standard of living to the benefit of the banker class.

 

 

 

Sat, 06/09/2012 - 17:14 | 2510966 Olympia
Olympia's picture

The over-profits of the shark loans in the USA not only did not turn their dollars into inflationary money, but also they were multiplied and exported abroad in the form of “investments”. The illegally “increased" dollars of the internal USA economy become tons of “investments” abroad. FED printed cheap money and loansharking multiplied this money in an unnatural way within the American economy boarders and they discarded them abroad so that they did not threaten USA. USA became the first state in the world with artificial “breathing” ...the first state that burdened the international economy with its “breathing” ... and this is where everything started ...this is where the current shabbiness started, Loan sharks that are international today and “hide” behind the vague term of “Markets” are in fact the old loan sharks of the American market. They by controlling the USA monetary system “pumped in air” constantly in order to make profit from the USA “breathing”.

 

http://eamb-ydrohoos.blogspot.com/2012/01/global-debt-crisis.html

 

 

Authored by PANAGIOTIS TRAIANOU

Sun, 06/10/2012 - 12:33 | 2512198 shovelhead
shovelhead's picture

But just like in the old neighborhood, Vinnie 'The Legbreaker' loanshark still has to wait for the chumps to line up to beg for some money 'to tide them over'.

Vinnie can't make a living without the chumps.

Good for Vinnie there's no shortage of people who would rather spend than save.

The only difference is Vinnie doesn't extend and pretend.

Vinnie is a firm believer in moral hazard.

Sat, 06/09/2012 - 18:23 | 2511080 dcb
dcb's picture

yes and just like the royal monarchs who were destined to rule because of gods will the analogy to cultural hegemony applies. the church was no different in burning galleleo for say the earth revolved around the sun. beliefs systems that disrupt the ruling class must never be allowed. that's always the case.

Sun, 06/10/2012 - 03:15 | 2511699 putaipan
putaipan's picture

ROCKY ! ROCKY!!!!!! ROCKY ! ROCKY !

NO "JUSTICE PARTY" NO PEACE
Sun, 06/10/2012 - 03:16 | 2511700 putaipan
putaipan's picture

PROSICUTE THE FRAUD .

Sat, 06/09/2012 - 17:16 | 2510970 Sudden Debt
Sudden Debt's picture

Oh brother.... On television now: brussels is convinced it will work and will now start to make a assesment of their banking needs...
That sentence doesn't really rime for me....

Sat, 06/09/2012 - 17:17 | 2510975 Agent P
Agent P's picture

Isn't the explicit denial of needing a bailout one of the required steps to actually receiving one?  I believe we're batting a thousand on that stat.

Sat, 06/09/2012 - 17:20 | 2510979 Atomizer
Atomizer's picture

 

 

“Very soon every American will be required to register their biological property in a national system designed to keep track of the people and that will operate under the ancient system of pledging. By such methodology, we can compel people to submit to our agenda, which will affect our security as a charge back for our fiat paper currency. Every American will be forced to register or suffer being able to work and earn a living. They will be our chattels (property) and we will hold the security interest over them forever, by operation of the law merchant under the scheme of secured transactions. Americans, by unknowingly or unwittingly delivering the bills of lading (Birth Certificate) to us will be rendered bankrupt and insolvent, secured by their pledges. They will be stripped of their rights and given a commercial value designed to make us a profit and they will be none the wiser, for not one man in a million could ever figure our plans and, if by accident one or two should figure it out, we have in our arsenal plausible deniability. After all, this is the only logical way to fund government, by floating liens and debts to the registrants in the form of benefits and privileges. This will inevitably reap us huge profit beyond our wildest expectations and leave every American a contributor to this fraud, which we will call ‘Social Insurance’. Without realizing it, every American will unknowingly be our servant, however begrudgingly. The people will become helpless and without any hope for their redemption and we will employ the high office (presidency) of our dummy corporation (USA) to foment this plot against America.”

– Colonel Edward Mandel House

Sun, 06/10/2012 - 07:42 | 2511809 lakecity55
lakecity55's picture

House wrote an evil book, Phillip Dru, Administrator, which everyone should read.

The guy helped found the CFR here in USA.

Sat, 06/09/2012 - 17:25 | 2510988 francis_sawyer
francis_sawyer's picture

 "I did not have sexual relations with that woman"

Sat, 06/09/2012 - 17:35 | 2511002 magpie
magpie's picture

Indeed. We only need that Spanish woman to say that Obama is going to pay her mortgage.

Sat, 06/09/2012 - 17:59 | 2511037 Peter Pan
Peter Pan's picture

Let us be fair to Rajoy. The money the Spanish are getting is not aid or a rescue deal because it will be treated as a loan and will carry interest. LOL. if the lenders ever see any of these funds again, it will be at a time when bull fighting is no longer taking place in Spain.

Sat, 06/09/2012 - 17:59 | 2511038 bnbdnb
bnbdnb's picture

TVIX to $1, come on baby.

Sat, 06/09/2012 - 19:02 | 2511061 crawl
crawl's picture

Thank God these write politicians figured out its good to lie and when you get into too much debt, just get into more debt.. It is unreal the fiscally prudent European countries would bail out the ones drowning in debt. Reality is definitely stranger than fiction. So does Spain, Italy and Greece contribute money to the Spanish bank bailout?

Sat, 06/09/2012 - 18:26 | 2511069 dcb
dcb's picture

well junker clearly has a great history iof success (LOL)

"When it becomes serious, you have to lie", Jean-Claude Juncker

The head of the Eurogroup finance ministers, has also been the first permanent president of the Eurogroup, which brings together the Ministers of Finance of the member states of the euro area.
n 1991, as incumbent president of the Economic and Financial Affairs Council, Jean-Claude Juncker became one of the principal architects of the Maastricht Treaty, in particular of the section on the economic and monetary union of which he drafted large parts himself.
In December 1996, as a result of his successful and delicate mediating between the German Chancellor Helmut Kohl and the French President Jacques Chirac on the subject of the Stability Pact accompanying the economic and monetary union, the international press dubbed Jean-Claude Juncker "the hero of Dublin".

9 Jun, 2012, 02.57PM IST, The writer has posted comments on this articleAFP

Jean-Claude Juncker calls for quick solution to Spain banking crisis

 

Me: why is the guy who's ideas seem to be a major cause of the entire crisis get a role in solving it. because it's not about solving it, it's about protecting the status quo and his legacy and baby (eurozone). does anyone really think this man is any any position to rationally make the best choices.  

Sat, 06/09/2012 - 19:04 | 2511129 Piranhanoia
Piranhanoia's picture

El rey es el dueno.  Yo supe tras.

Sat, 06/09/2012 - 19:55 | 2511188 loveyajimbo
loveyajimbo's picture

Did anyone take a close look at Geithner for that Gay/body-parts mailing thing?

Sat, 06/09/2012 - 19:57 | 2511190 koperniuk666
koperniuk666's picture

Rajoy is a filthy lying cunt like all the other politicians in Europe.

Burn the fuckers slowly when the time comes.

 

Sat, 06/09/2012 - 21:12 | 2511333 q99x2
q99x2's picture

Struck by the tower of Babel.

Sat, 06/09/2012 - 21:47 | 2511386 sancho_panza
sancho_panza's picture

Never have so many lied so much in such a short time. I'm glad the term "moral hazard" exists so I don't have do discuss its effects at length.  

Sat, 06/09/2012 - 22:26 | 2511427 Goldtoothchimp09
Goldtoothchimp09's picture

a bunch of insolvent banks trying to stanch deposits leaving from insolvent Spanish banks...

tell me again why bankers aren't compensated like public utilities??

Sat, 06/09/2012 - 22:42 | 2511464 CURWAR2012
CURWAR2012's picture

And this is why I stack the nice round perdy gold and silver coins my friends. I mean, that is why the people I know stack the nice round perdy gold and silver coins.

Sat, 06/09/2012 - 23:01 | 2511487 holdbuysell
holdbuysell's picture

President "the economy's fine" ... no wait... " the economy's not fine" Obama is toeing the line.

Sun, 06/10/2012 - 02:07 | 2511667 Tom Green Swedish
Tom Green Swedish's picture

Obama is confused ok.  This president thing is new to him. He might need some time in the mental ward where he is locked up treated with some zyprexa, or haldol then released after the confusion resides. An ECT might be necessary if that doesnt work.

Sun, 06/10/2012 - 02:06 | 2511666 Tom Green Swedish
Tom Green Swedish's picture

This is a good one.  Protection money is going to be a bitch for UniCredit.

 

Spain’s banking crisis is mostly specific to that country and wouldn’t need to be a source of contagion to others in the region except for Italy, which also has a rising funding reliance on the European Central Bank through its banks, Moody’s said in the statement.

 

Italian banks resilient to Spanish risks-UniCredit

 

SANTA MARGHERITA LIGURE, Italy (Reuters) - Italian banks are strong and there is no need to fear possible contagion from the troubles of Spain's banking sector, the general manager of Italian bank UniCredit (UCG.MI) said on Saturday.

Euro zone finance ministers meet to discuss a bailout of Spain's banks on Saturday, although officials have sought to emphasise that the Spanish troubles were spawned by a burst property bubble rather than by government finances as in Greece.

"Our banks are strong," UniCredit's Roberto Nicastro said at a conference of young entrepreneurs organised by business lobby Confindustria. "Spain can be in a delicate situation, but substantially we do not have to be scared about Spanish banks."

Moody's Investors Service said on Friday that Spain's banking sector crisis would not pose a major source of contagion to other euro area countries as it is largely specific to the country itself. However Italy shares with Spain a growing funding reliance on the European Central Bank through its banks, Moody's said.

"We are the only banking sector in Europe that did not need public capital," Unicredit's Roberto Nicastro said.

"The Spanish banking sector is generally strong, yes, it can be in a delicate situation. But they are discussing how to find a way to stabilise it," Nicastro said.

Nicastro said Italy would not resist proposals for a political and banking union requiring nations to cede more sovereignty in order to stabilise the euro bloc.

"Italy is more oriented to accept this passage. We see resistance from other countries and not necessarily only in Germany," he said.

Nicastro backed the idea of creating a joint deposit guarantee and a bank resolution fund. "But this cannot be done without a centralised surveillance of all banks," he said.

(Reporting by Antonella Ciancio; Editing by Ruth Pitchford)

Sun, 06/10/2012 - 06:42 | 2511789 DutchR
DutchR's picture

Spain can use the sunken treasure around Cuba as collateral and claim they lost it in a boating accident......

 

Sun, 06/10/2012 - 22:55 | 2513260 Grand Supercycle
Grand Supercycle's picture

Rally warning from last week:
'Daily chart now gives bullish warning and significant
SPX rally & USDX retracement should commence in a week or so'

http://www.zerohedge.com/news/2012-12-24/market-analysis

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