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As Soros Starts A Three Month Countdown To D(oom)-Day, Europe Plans A New Master Plan

Tyler Durden's picture


What would the weekend be without at least one rumor that Europe is on the verge of fixing everything, or failing that, planning for a master fix, OR failing that, planning for a master plan to fix everything. Sure enough, we just got the latter, which considering nobody really believes anything out of Europe anymore, especially not something that has not been signed, stamped and approved by Merkel herself, is rather ballsy. Nonetheless, one can't blame them for trying: "The chiefs of four European institutions are in the process of creating a master plan for the euro zone, the daily Die Welt reports Saturday, in an advance release of an article to be published Sunday. Suggestions targeting a fiscal, banking, and political union, as well as structural reforms, are being worked out by E.U. Council President Herman van Rompuy, E.U. Commission chief Jose Manuel Barroso, Eurogroup Chairman Jean-Claude Juncker and European Central Bank President Mario Draghi, according to the article. The plan is to be presented at a summit of European leaders at end of June, the article says."

Less than credible sources report that Spiderman towels (which are now trading at negative repo rates) and cross-rehypothecated kitchen sinks are also key components of all future "master plans" which sadly are absolutely meaningless since the signature of Europe's paymaster - the Bundesrepublik - is as usual lacking. Which is why, "the plan may well mean that the euro zone adopts measures not immediately accepted by the whole of the European Union, the article adds." So... European sub-union? Hardly strange is that just as this latest desperate attempt at distraction from the complete chaos in Europe (which will only find a resolution once XO crosses 1000 as we and Citi suggested two weeks ago and when the world is truly on the verge of the abyss), none other than George Soros has just started a 3-month countdown to European the European D(oom)-Day.

From Reuters:

Germany and its central bank are unlikely to lead the way out of the euro zone debt crisis within three months time, after which it will be too late, U.S. billionaire George Soros said on Saturday.


Speaking at an economic conference in Trento, Italy, Soros said that the euro crisis - which he defined as a sovereign debt crisis and a banking crisis closely interlinked - threatened to destroy the European Union and plunge it into a lost decade like Latin America in the 1980s.


Soros said he expected Greek elections in June to produce a government willing to stick by the current bailout agreements, but which would find it impossible to do so.

We disagree: the next Greek elections will be merely a rerun of the first - lots of sound and fury, signifying no government, as the country becomes the next Belgium (as we noted here before the outcome of the first election was even known), ends up an anarchy state, without a government, as what little money the Treasury has goes to pay English-law bondholders, until finally there is nothing left. But that is neither here nor there, because at this point it is not about Greece any more:

"The Greek crisis is liable to come to a climax in the fall. By that time the German economy will also be weakening so that Chancellor (Angela) Merkel will find it even more difficult than today to persuade the German public to accept any additional European responsibilities. That is what creates a three-month window," he said.


The Hungarian-born U.S. financier said that all the "blame and burden" of adjusting the euro area's imbalances was falling on weaker peripheral countries, but the bloc's core bore an ever greater responsibility for the crisis.


"The 'centre' is responsible for designing a flawed system, enacting flawed treaties, pursuing flawed policies and always doing too little too late," he said.


The flights of fancy continue,

Soros urged creating a European deposit insurance scheme and called for direct bank access to the euro zone's rescue fund, as well as for joint financial supervision and regulation.

Yes and if wishes were horses... because even Goldman Sachs and Barclays said a European deposit fund is wonderful in theory, but in practice won't be coming for a long time (as further explained why here and here), if at all:

1 . Operational difficulties

  • What currency are claimants paid in?
  • If they are paid in the new currency, how is the loss rate established?
  • How would capital controls impact settlement?

2. Size of the potential redenomination loss

  • The redenomination loss would be greater than typical losses in FDIC insured bank failures
  • Potential losses are large enough to call the credibility of the guarantee into question

3. Moral hazard problems

  • This type of guarantee scheme would make it less painful for peripheral European nations to leave the eurozone
  • Under a euro-value guarantee, a country could exit, massively reducing sovereign liabilities, while maintaining a substantial amount of household savings value

4. Finally, a euro-value guarantee scheme would be a massive contingent liability for guarantors that only pays out after a member exit --not an ideal setup

Soros vision of utopia continues:

The euro zone would eventually need a financial authority that could take over much of individual countries' solvency risk.


Soros said that the financial system in Europe was fragmenting and reorganising itself along national lines, which in a few years time may make an orderly euro break up possible.


But "an earlier breakup is bound to be disorderly," almost certainly leading to a collapse of the EU itself, he said.


He said it would take German authorities "an extraordinary effort" to gather public support in the coming three months for the measures which are needed to halt current trends.


"We need to do whatever we can to convince Germany to show leadership and preserve the European Union as the fantastic object that it used to be," he said.

There is one problem with all of this: for the decade or so that the EMU worked, Germany was the sole true beneficiary. What the world is in effect asking Germany is to unwind the years of having outsmarted everyone else, and to redistribute the benefits to all the others who were dumb enough not to get what was going on. And as a reminder, Germany said, okalie dokalie: just first pledge your gold to Herr Pawn Shop operator in case you still go broke after we bail you out.

So far it has been everyone else in Europe, those who demand to be bailed out that is, that has been rather mum on this response from Germany.

But yes, let's blame it on all Germany for daring to have benefitted from outsmarting others.

In short: Soros is right about one thing - 3 months. And Counting.

Full Soros speech:

Remarks at the Festival of Economics, Trento Italy

Ever since the Crash of 2008 there has been a widespread recognition, both among economists and the general public, that economic theory has failed. But there is no consensus on the causes and the extent of that failure.

I believe that the failure is more profound than generally recognized. It goes back to the foundations of economic theory. Economics tried to model itself on Newtonian physics. It sought to establish universally and timelessly valid laws governing reality. But economics is a social science and there is a fundamental difference between the natural and social sciences. Social phenomena have thinking participants who base their decisions on imperfect knowledge. That is what economic theory has tried to ignore.

Scientific method needs an independent criterion, by which the truth or validity of its theories can be judged. Natural phenomena constitute such a criterion; social phenomena do not. That is because natural phenomena consist of facts that unfold independently of any statements that relate to them. The facts then serve as objective evidence by which the validity of scientific theories can be judged. That has enabled natural science to produce amazing results.

Social events, by contrast, have thinking participants who have a will of their own.  They are not detached observers but engaged decision makers whose decisions greatly influence the course of events. Therefore the events do not constitute an independent criterion by which participants can decide whether their views are valid. In the absence of an independent criterion people have to base their decisions not on knowledge but on an inherently biased and to greater or lesser extent distorted interpretation of reality. Their lack of perfect knowledge or fallibility introduces an element of indeterminacy into the course of events that is absent when the events relate to the behavior of inanimate objects. The resulting uncertainty hinders the social sciences in producing laws similar to Newton’s physics.

Economics, which became the most influential of the social sciences, sought to remove this handicap by taking an axiomatic approach similar to Euclid’s geometry. But Euclid’s axioms closely resembled reality while the theory of rational expectations and the efficient market hypothesis became far removed from it. Up to a point the axiomatic approach worked. For instance, the theory of perfect competition postulated perfect knowledge. But the postulate worked only as long as it was applied to the exchange of physical goods. When it came to production, as distinct from exchange, or to the use of money and credit, the postulate became untenable because the participants’ decisions involved the future and the future cannot be known until it has actually occurred.

I am not well qualified to criticize the theory of rational expectations and the efficient market hypothesis because as a market participant I considered them so unrealistic that I never bothered to study them. That is an indictment in itself but I shall leave a detailed critique of these theories to others.

Instead, I should like to put before you a radically different approach to financial markets. It was inspired by Karl Popper who taught me that people’s interpretation of reality never quite corresponds to reality itself. This led me to study the relationship between the two. I found a two-way connection between the participants’ thinking and the situations in which they participate. On the one hand people seek to understand the situation; that is the cognitive function. On the other, they seek to make an impact on the situation; I call that the causative or manipulative function. The two functions connect the thinking agents and the situations in which they participate in opposite directions. In the cognitive function the situation is supposed to determine the participants’ views; in the causative function the participants’ views are supposed to determine the outcome. When both functions are at work at the same time they interfere with each other. The two functions form a circular relationship or feedback loop. I call that feedback loop reflexivity. In a reflexive situation the participants’ views cannot correspond to reality because reality is not something independently given; it is contingent on the participants’ views and decisions. The decisions, in turn, cannot be based on knowledge alone; they must contain some bias or guess work about the future because the future is contingent on the participants’ decisions.

Fallibility and reflexivity are tied together like Siamese twins. Without fallibility there would be no reflexivity – although the opposite is not the case: people’s understanding would be imperfect even in the absence of reflexivity. Of the two twins, fallibility is the first born. Together, they ensure both a divergence between the participants’ view of reality and the actual state of affairs and a divergence between the participants’ expectations and the actual outcome.

Obviously, I did not discover reflexivity. Others had recognized it before me, often under a different name. Robert Merton wrote about self-fulfilling prophecies and the bandwagon effect, Keynes compared financial markets to a beauty contest where the participants had to guess who would be the most popular choice. But starting from fallibility and reflexivity I focused on a problem area, namely the role of misconceptions and misunderstandings in shaping the course of events that mainstream economics tried to ignore. This has made my interpretation of reality more realistic than the prevailing paradigm.

Among other things, I developed a model of a boom-bust process or bubble which is endogenous to financial markets, not the result of external shocks. According to my theory, financial bubbles are not a purely psychological phenomenon.  They have two components: a trend that prevails in reality and a misinterpretation of that trend. A bubble can develop when the feedback is initially positive in the sense that both the trend and its biased interpretation are mutually reinforced. Eventually the gap between the trend and its biased interpretation grows so wide that it becomes unsustainable. After a twilight period both the bias and the trend are reversed and reinforce each other in the opposite direction. Bubbles are usually asymmetric in shape: booms develop slowly but the bust tends to be sudden and devastating. That is due to the use of leverage: price declines precipitate the forced liquidation of leveraged positions.

Well-formed financial bubbles always follow this pattern but the magnitude and duration of each phase is unpredictable. Moreover the process can be aborted at any stage so that well-formed financial bubbles occur rather infrequently.

At any moment of time there are myriads of feedback loops at work, some of which are positive, others negative. They interact with each other, producing the irregular price patterns that prevail most of the time; but on the rare occasions that bubbles develop to their full potential they tend to overshadow all other influences.

According to my theory financial markets may just as soon produce bubbles as tend toward equilibrium. Since bubbles disrupt financial markets, history has been punctuated by financial crises. Each crisis provoked a regulatory response. That is how central banking and financial regulations have evolved, in step with the markets themselves. Bubbles occur only intermittently but the interplay between markets and regulators is ongoing. Since both market participants and regulators act on the basis of imperfect knowledge the interplay between them is reflexive. Moreover reflexivity and fallibility are not confined to the financial markets; they also characterize other spheres of social life, particularly politics. Indeed, in light of the ongoing interaction between markets and regulators it is quite misleading to study financial markets in isolation. Behind the invisible hand of the market lies the visible hand of politics. Instead of pursuing timeless laws and models we ought to study events in their time bound context.

My interpretation of financial markets differs from the prevailing paradigm in many ways. I emphasize the role of misunderstandings and misconceptions in shaping the course of history. And I treat bubbles as largely unpredictable. The direction and its eventual reversal are predictable; the magnitude and duration of the various phases is not. I contend that taking fallibility as the starting point makes my conceptual framework more realistic. But at a price: the idea that laws or models of universal validity can predict the future must be abandoned.

Until recently, my interpretation of financial markets was either ignored or dismissed by academic economists. All this has changed since the crash of 2008. Reflexivity became recognized but, with the exception of Imperfect Knowledge Economics, the foundations of economic theory have not been subjected to the profound rethinking that I consider necessary. Reflexivity has been accommodated by speaking of multiple equilibria instead of a single one. But that is not enough. The fallibility of market participants, regulators, and economists must also be recognized.  A truly dynamic situation cannot be understood by studying multiple equilibria.  We need to study the process of change.

The euro crisis is particularly instructive in this regard. It demonstrates the role of misconceptions and a lack of understanding in shaping the course of history. The authorities didn’t understand the nature of the euro crisis; they thought it is a fiscal problem while it is more of a banking problem and a problem of competitiveness. And they applied the wrong remedy: you cannot reduce the debt burden by shrinking the economy, only by growing your way out of it. The crisis is still growing because of a failure to understand the dynamics of social change; policy measures that could have worked at one point in time were no longer sufficient by the time they were applied.

Since the euro crisis is currently exerting an overwhelming influence on the global economy I shall devote the rest of my talk to it. I must start with a warning: the discussion will take us beyond the confines of economic theory into politics and the dynamics of social change. But my conceptual framework based on the twin pillars of fallibility and reflexivity still applies. Reflexivity doesn’t always manifest itself in the form of bubbles. The reflexive interplay between imperfect markets and imperfect authorities goes on all the time while bubbles occur only infrequently. This is a rare occasion when the interaction exerts such a large influence that it casts its shadow on the global economy. How could this happen? My answer is that there is a bubble involved, after all, but it is not a financial but a political one. It relates to the political evolution of the European Union and it has led me to the conclusion that the euro crisis threatens to destroy the European Union. Let me explain.

I contend that the European Union itself is like a bubble. In the boom phase the EU was what the psychoanalyst David Tuckett calls a “fantastic object” – unreal but immensely attractive. The EU was the embodiment of an open society –an association of nations founded on the principles of democracy, human rights, and rule of law in which no nation or nationality would have a dominant position. 

The process of integration was spearheaded by a small group of far sighted statesmen who practiced what Karl Popper called piecemeal social engineering. They recognized that perfection is unattainable; so they set limited objectives and firm timelines and then mobilized the political will for a small step forward, knowing full well that when they achieved it, its inadequacy would become apparent and require a further step. The process fed on its own success, very much like a financial bubble. That is how the Coal and Steel Community was gradually transformed into the European Union, step by step.

Germany used to be in the forefront of the effort. When the Soviet empire started to disintegrate, Germany’s leaders realized that reunification was possible only in the context of a more united Europe and they were willing to make considerable sacrifices to achieve it.  When it came to bargaining they were willing to contribute a little more and take a little less than the others, thereby facilitating agreement.  At that time, German statesmen used to assert that Germany has no independent foreign policy, only a European one.

The process culminated with the Maastricht Treaty and the introduction of the euro. It was followed by a period of stagnation which, after the crash of 2008, turned into a process of disintegration. The first step was taken by Germany when, after the bankruptcy of Lehman Brothers, Angela Merkel declared that the virtual guarantee extended to other financial institutions should come from each country acting separately, not by Europe acting jointly. It took financial markets more than a year to realize the implication of that declaration, showing that they are not perfect.

The Maastricht Treaty was fundamentally flawed, demonstrating the fallibility of the authorities. Its main weakness was well known to its architects: it established a monetary union without a political union. The architects believed however, that when the need arose the political will could be generated to take the necessary steps towards a political union.

But the euro also had some other defects of which the architects were unaware and which are not fully understood even today. In retrospect it is now clear that the main source of trouble is that the member states of the euro have surrendered to the European Central Bank their rights to create fiat money. They did not realize what that entails – and neither did the European authorities. When the euro was introduced the regulators allowed banks to buy unlimited amounts of government bonds without setting aside any equity capital; and the central bank accepted all government bonds at its discount window on equal terms. Commercial banks found it advantageous to accumulate the bonds of the weaker euro members in order to earn a few extra basis points. That is what caused interest rates to converge which in turn caused competitiveness to diverge. Germany, struggling with the burdens of reunification, undertook structural reforms and became more competitive. Other countries enjoyed housing and consumption booms on the back of cheap credit, making them less competitive. Then came the crash of 2008 which created conditions that were far removed from those prescribed by the Maastricht Treaty. Many governments had to shift bank liabilities on to their own balance sheets and engage in massive deficit spending. These countries found themselves in the position of a third world country that had become heavily indebted in a currency that it did not control. Due to the divergence in economic performance Europe became divided between creditor and debtor countries. This is having far reaching political implications to which I will revert.

It took some time for the financial markets to discover that government bonds which had been considered riskless are subject to speculative attack and may actually default; but when they did, risk premiums rose dramatically. This rendered commercial banks whose balance sheets were loaded with those bonds potentially insolvent. And that constituted the two main components of the problem confronting us today: a sovereign debt crisis and a banking crisis which are closely interlinked.

The eurozone is now repeating what had often happened in the global financial system. There is a close parallel between the euro crisis and the international banking crisis that erupted in 1982. Then the international financial authorities did whatever was necessary to protect the banking system: they inflicted hardship on the periphery in order to protect the center. Now Germany and the other creditor countries are unknowingly playing the same role. The details differ but the idea is the same: the creditors are in effect shifting the burden of adjustment on to the debtor countries and avoiding their own responsibility for the imbalances. Interestingly, the terms “center” and “periphery” have crept into usage almost unnoticed. Just as in the 1980’s all the blame and burden is falling on the “periphery” and the responsibility of the “center” has never been properly acknowledged.  Yet in the euro crisis the responsibility of the center is even greater than it was in 1982. The “center” is responsible for designing a flawed system, enacting flawed treaties, pursuing flawed policies and always doing too little too late. In the 1980’s Latin America suffered a lost decade; a similar fate now awaits Europe. That is the responsibility that Germany and the other creditor countries need to acknowledge. But there is now sign of this happening.

The European authorities had little understanding of what was happening. They were prepared to deal with fiscal problems but only Greece qualified as a fiscal crisis; the rest of Europe suffered from a banking crisis and a divergence in competitiveness which gave rise to a balance of payments crisis. The authorities did not even understand the nature of the problem, let alone see a solution. So they tried to buy time.

Usually that works. Financial panics subside and the authorities realize a profit on their intervention. But not this time because the financial problems were reinforced by a process of political disintegration. While the European Union was being created, the leadership was in the forefront of further integration; but after the outbreak of the financial crisis the authorities became wedded to preserving the status quo. This has forced all those who consider the status quo unsustainable or intolerable into an anti-European posture. That is the political dynamic that makes the disintegration of the European Union just as self-reinforcing as its creation has been.  That is the political bubble I was talking about.

At the onset of the crisis a breakup of the euro was inconceivable: the assets and liabilities denominated in a common currency were so intermingled that a breakup would have led to an uncontrollable meltdown. But as the crisis progressed the financial system has been progressively reordered along national lines. This trend has gathered momentum in recent months. The Long Term Refinancing Operation (LTRO) undertaken by the European Central Bank enabled Spanish and Italian banks to engage in a very profitable and low risk arbitrage by buying the bonds of their own countries. And other investors have been actively divesting themselves of the sovereign debt of the periphery countries.

If this continued for a few more years a break-up of the euro would become possible without a meltdown – the omelet could be unscrambled – but it would leave the central banks of the creditor countries with large claims against the central banks of the debtor countries which would be difficult to collect. This is due to an arcane problem in the euro clearing system called Target2. In contrast to the clearing system of the Federal Reserve, which is settled annually, Target2 accumulates the imbalances. This did not create a problem as long as the interbank system was functioning because the banks settled the imbalances themselves through the interbank market. But the interbank market has not functioned properly since 2007 and the banks relied increasingly on the Target system. And since the summer of 2011 there has been increasing capital flight from the weaker countries. So the imbalances grew exponentially. By the end of March this year the Bundesbank had claims of some 660 billion euros against the central banks of the periphery countries.

The Bundesbank has become aware of the potential danger. It is now engaged in a campaign against the indefinite expansion of the money supply and it has started taking measures to limit the losses it would sustain in case of a breakup. This is creating a self-fulfilling prophecy. Once the Bundesbank starts guarding against a breakup everybody will have to do the same.

This is already happening. Financial institutions are increasingly reordering their European exposure along national lines just in case the region splits apart. Banks give preference to shedding assets outside their national borders and risk managers try to match assets and liabilities within national borders rather than within the eurozone as a whole. The indirect effect of this asset-liability matching is to reinforce the deleveraging process and to reduce the availability of credit, particularly to the small and medium enterprises which are the main source of employment.

So the crisis is getting ever deeper. Tensions in financial markets have risen to new highs as shown by the historic low yield on Bunds. Even more telling is the fact that the yield on British 10 year bonds has never been lower in its 300 year history while the risk premium on Spanish bonds is at a new high.

The real economy of the eurozone is declining while Germany is still booming. This means that the divergence is getting wider. The political and social dynamics are also working toward disintegration. Public opinion as expressed in recent election results is increasingly opposed to austerity and this trend is likely to grow until the policy is reversed. So something has to give.

In my judgment the authorities have a three months’ window during which they could still correct their mistakes and reverse the current trends. By the authorities I mean mainly the German government and the Bundesbank because in a crisis the creditors are in the driver’s seat and nothing can be done without German support.

I expect that the Greek public will be sufficiently frightened by the prospect of expulsion from the European Union that it will give a narrow majority of seats to a coalition that is ready to abide by the current agreement. But no government can meet the conditions so that the Greek crisis is liable to come to a climax in the fall. By that time the German economy will also be weakening so that Chancellor Merkel will find it even more difficult than today to persuade the German public to accept any additional European responsibilities. That is what creates a three months’ window.

Correcting the mistakes and reversing the trend would require some extraordinary policy measures to bring conditions back closer to normal, and bring relief to the financial markets and the banking system. These measures must, however, conform to the existing treaties. The treaties could then be revised in a calmer atmosphere so that the current imbalances will not recur. It is difficult but not impossible to design some extraordinary measures that would meet these tough requirements. They would have to tackle simultaneously the banking problem and the problem of excessive government debt, because these problems are interlinked. Addressing one without the other, as in the past, will not work.

Banks need a European deposit insurance scheme in order to stem the capital flight. They also need direct financing by the European Stability Mechanism (ESM) which has to go hand-in-hand with eurozone-wide supervision and regulation. The heavily indebted countries need relief on their financing costs. There are various ways to provide it but they all need the active support of the Bundesbank and the German government.

That is where the blockage is. The authorities are working feverishly to come up with a set of proposals in time for the European summit at the end of this month. Based on the current newspaper reports the measures they will propose will cover all the bases I mentioned but they will offer only the minimum on which the various parties can agree while what is needed is a convincing commitment to reverse the trend. That means the measures will again offer some temporary relief but the trends will continue. But we are at an inflection point.  After the expiration of the three months’ window the markets will continue to demand more but the authorities will not be able to meet their demands.

It is impossible to predict the eventual outcome. As mentioned before, the gradual reordering of the financial system along national lines could make an orderly breakup of the euro possible in a few years’ time and, if it were not for the social and political dynamics, one could imagine a common market without a common currency. But the trends are clearly non-linear and an earlier breakup is bound to be disorderly. It would almost certainly lead to a collapse of the Schengen Treaty, the common market, and the European Union itself. (It should be remembered that there is an exit mechanism for the European Union but not for the euro.) Unenforceable claims and unsettled grievances would leave Europe worse off than it was at the outset when the project of a united Europe was conceived.

But the likelihood is that the euro will survive because a breakup would be devastating not only for the periphery but also for Germany. It would leave Germany with large unenforceable claims against the periphery countries. The Bundesbank alone will have over a trillion euros of claims arising out of Target2 by the end of this year, in addition to all the intergovernmental obligations. And a return to the Deutschemark would likely price Germany out of its export markets – not to mention the political consequences. So Germany is likely to do what is necessary to preserve the euro – but nothing more. That would result in a eurozone dominated by Germany in which the divergence between the creditor and debtor countries would continue to widen and the periphery would turn into permanently depressed areas in need of constant transfer of payments. That would turn the European Union into something very different from what it was when it was a “fantastic object” that fired peoples imagination. It would be a German empire with the periphery as the hinterland.

I believe most of us would find that objectionable but I have a great deal of sympathy with Germany in its present predicament. The German public cannot understand why a policy of structural reforms and fiscal austerity that worked for Germany a decade ago will not work Europe today. Germany then could enjoy an export led recovery but the eurozone today is caught in a deflationary debt trap. The German public does not see any deflation at home; on the contrary, wages are rising and there are vacancies for skilled jobs which are eagerly snapped up by immigrants from other European countries. Reluctance to invest abroad and the influx of flight capital are fueling a real estate boom. Exports may be slowing but employment is still rising. In these circumstances it would require an extraordinary effort by the German government to convince the German public to embrace the extraordinary measures that would be necessary to reverse the current trend. And they have only a three months’ window in which to do it.

We need to do whatever we can to convince Germany to show leadership and preserve the European Union as the fantastic object that it used to be. The future of Europe depends on it.


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Sat, 06/02/2012 - 22:44 | 2488296 Bill D. Cat
Bill D. Cat's picture

Tyler ,

" Clap , clap " , fetch me a bald cat .

Sat, 06/02/2012 - 22:47 | 2488301 Colombian Gringo
Colombian Gringo's picture

Fuck Soros! Fuck Soros! Fuck, Fuck, FUCK Soros and the rest of the Elitist criminals robbing the planet.

Sat, 06/02/2012 - 23:04 | 2488338 Rahm
Rahm's picture

Soros.  Die.

Sat, 06/02/2012 - 23:28 | 2488392 DoChenRollingBearing
DoChenRollingBearing's picture

Lots and lots and lots of Soros hating going on!  

Keep reading!  LOL!

Sun, 06/03/2012 - 00:26 | 2488467 SilverTree
SilverTree's picture

Kill Soros with _________.

Sun, 06/03/2012 - 02:03 | 2488573 margaris
margaris's picture

.... spoon?

Sun, 06/03/2012 - 02:05 | 2488578 Walter E Kurtz
Walter E Kurtz's picture

A rubber fist?

Sun, 06/03/2012 - 16:13 | 2489731 Theosebes Goodfellow
Theosebes Goodfellow's picture

Candlestick in the Library?

Mon, 06/04/2012 - 01:34 | 2490884 mkkby
mkkby's picture

Soros is pushing Germany to bail out the others for one and only one reason - HIS BOOK.  He must be long sov debt, short CDOs or long euro.  Don't be distracted by the magician's hand waving -- look away from the distraction.

Sun, 06/03/2012 - 03:08 | 2488633 Hugh G Rection
Hugh G Rection's picture

A 30 inch purple dildo, covered in HIV infested semen, inserted rectally, whilst the victim hangs upside down by fishhooks through the gastrocnemeus.

Sun, 06/03/2012 - 09:44 | 2488882 nawerdenn
nawerdenn's picture

Scaphism looks much better.

Sun, 06/03/2012 - 11:33 | 2489088 BeetleBailey
BeetleBailey's picture

Actually, one would need an airstrike to the entire Soros infested "regime".

Don't think for one minute this megalomaniac (oh, I can insert some pretty awful adverbs and adjectives here - this one fits though..for now)  hasn't spawned some behind the scenes bastard and bitches, ready to take over when he slips loose the mortal coil.

Any "meeting" of the Soros cabal will do.....scorched earth.

Sun, 06/03/2012 - 03:11 | 2488634 Hugh G Rection
Hugh G Rection's picture

A 30 inch purple dildo, covered in HIV infested semen, inserted rectally, whilst the victim hangs upside down by fishhooks through the gastrocnemeus.

Sun, 06/03/2012 - 04:58 | 2488681 The Big Ching-aso
The Big Ching-aso's picture



I'm sensing you guys don't like this guy.

Sun, 06/03/2012 - 07:30 | 2488786 chump666
chump666's picture


Sun, 06/03/2012 - 11:21 | 2489057 derek_vineyard
derek_vineyard's picture

soros has adopted a public persona of liberalism as his means to attempt to get decent pussy

Sun, 06/03/2012 - 05:03 | 2488696 piliage
piliage's picture

Garlic? Daylight? Stake through the heart?

Sun, 06/03/2012 - 07:57 | 2488808 Debt-Is-Not-Money
Debt-Is-Not-Money's picture

Silver Bullet!

Who WAS that masked man?

Sun, 06/03/2012 - 15:49 | 2489663 El Oregonian
El Oregonian's picture

I wouldn't waste the Silver on this POS, at age 80+ he's going to meet his MAKER soon enough. <hint> He is NOT the one he has been worshiping...

Sun, 06/03/2012 - 17:10 | 2489888 Greyhat
Greyhat's picture

Regular ammu, chinese style, publicly and live on tv. Family pays for the bullet.

Silver is too expensive. ;)

Sun, 06/03/2012 - 11:49 | 2489124 Freewheelin Franklin
Sun, 06/03/2012 - 15:46 | 2489653 Hugh G Rection
Hugh G Rection's picture

A 30 inch purple dildo, covered in HIV infested semen, inserted rectally, whilst the victim hangs upside down by fishhooks through the gastrocnemeus.

Sun, 06/03/2012 - 00:33 | 2488473 Michael
Michael's picture

Just watch this shit if you want to know everything that is fucking wrong with our country and the rest of the fucking world.

best of walstreetpro2 (greatest fuckin hits) - 1 of 3

best of walstreetpro2 (greatest fuckin hits) - 2 of 3

best of walstreetpro2 (greatest fuckin hits) - 3 of 3

Sun, 06/03/2012 - 00:41 | 2488482 SilverTree
SilverTree's picture

Mustang power wheels 'MADE IN CHINA'

Sun, 06/03/2012 - 08:25 | 2488825 Monedas
Monedas's picture

I'm totally impressed with the durability of that Chinese toy Mustang !      Monedas      1929      Comedy Jihad Tough As Nails Truth

Sun, 06/03/2012 - 10:56 | 2489001 Revert_Back_to_...
Revert_Back_to_1792_Act's picture

Watching that video and the videos above just makes me all the more brokenhearted for our Nation.  There are probably a lot of kids that would have liked to have that toy (even if it was broken).  People worked hard making it. I kind of understand why he is doing this but...


Where is the Love - Black Eyed Peas


Sun, 06/03/2012 - 13:40 | 2489365 yabyum
yabyum's picture

Poor bastard needs a xanax.

Sun, 06/03/2012 - 00:45 | 2488484 Michael
Michael's picture

The only question I have is;

With what Armies is the EU going to enforce it's master Plan?

Sun, 06/03/2012 - 00:47 | 2488488 SilverTree
SilverTree's picture

See Biological warfare...

Sun, 06/03/2012 - 00:59 | 2488497 Freddie
Freddie's picture

They may start to evict some of the Islamic invaders unless the Saudis fork over some billions.  Always a good time for some ethnic cleansing. Leave now or get a one way ticket to Allah.   If Europe sent this lot back their govt expenditures would decrease.  Open borders and PC has bankrupted the West.

Sun, 06/03/2012 - 01:22 | 2488514 markar
markar's picture

Too late to put that genie back in the bottle. 

Sun, 06/03/2012 - 01:41 | 2488539 Michael
Michael's picture

I think they'll do in Spain what they did in Iceland.

Ireland is just too Wimpy.

Sun, 06/03/2012 - 04:38 | 2488675 piliage
piliage's picture

You may want to ask the Brits how wimpy Ireland is...

Sun, 06/03/2012 - 09:18 | 2488857 10mm
10mm's picture

That was the people,not the politicans.

Sun, 06/03/2012 - 09:56 | 2488906 j0nx
j0nx's picture

The Irish, like Americans, WERE strong. Now they are just a bunch of pussies like us who lay around and watch reality TV and let sociopaths lord over them unchallenged. All of us deserve what's coming. Please don't insult us and say the Irish aren't weak.

Sun, 06/03/2012 - 15:17 | 2489531 tony wilson
tony wilson's picture

der irish are weak day gets der overspill from all der constant brit chem trail sprayin.

der greean amerald cuntry is covered in fukin barium and fukyshita atom mick radioation by fuck by jap proxy.

i beeleefs in der animals worlds its called being spayed or newturd

all doze dozey bastards av been deactivated fattened up for food processing like in dat soylent green.

10s of millions of zombies soon to be brit and orish green with bono head of food processing and money collectin

Sun, 06/03/2012 - 08:48 | 2488822 Reptil
Reptil's picture

I think the people will let the politicians work out their "solutions" first. But they're failing now to "convince" everyone to bend over. EVERYONE (except for a few evil SOBs) is wiling to give the system of organisation that held up for centuries another chance. But politicians are falling over each other to push responsibillity away (and our right to self determine our future). Because they're shit scared, now they see they've been had, and the whole debt based run of the last decade was fake.

The right wing pro entrepreneur party VVD here telling business owners in their face they should accept even higher VAT, even when that'll fuck up our export based economy? Because (quote) "everyone's affected just the same"? Just to cover the unpayable debt, FOREVER? Like we don't know that's just the start of the next round of screwing.

When that fails, here in europe, it's custormairy to chop of the heads of the mofos. Not kidding. Many are waking up around me. And they're pissed, and are going to be a HELL of a lot more pissed when they find out what ZH readers have known for a looooong time. And when they find out every single POS war of the last century was a setup ( ), and now it's "our turn" again to bend over, they'll go medieval. The "rulers" have one chance and that's to claw back the european gold and redo the currency pegged to gold, as a transitional remedy. If they don't they're fucked, since their plan, which is going ahead anyway is NOT going to work. Yes, IMO they've failed. The bite they chewed off (world debt based currency) is too large. It's counter human nature. It's counter natural order of things, since "nature" prefers a bit of chaos. So the chaos that worked so well in the oligarchs favour, is now turning and is going to bite them in the ass. That's my opinion at least.

And yes; bioweapons that's what they'll unleash on us all. They've sunk so low as to USE BIOLOGICAL WEAPONS IN WESTERN EUROPE to "influence" the situation. See page 12 second column of this article: The E-coli virus of summer last year was a construct of different strands of e-coli (which is crossing the acidic stomache barrier because of force feeding corn anyway) but also they bolted on some BLACK PLAGUE DNA, just because they could. So that's what's up. Source: Süddeutsche Zeitung dd: 31 may 2011 page 12. Here in the Netherlands Monsanto was allowed to buy up ALL seed manufacturing corporations. And the politicians are pushing for only to allow "patented" seeds (food) to be allowed. But the people are not having it. If they still go ahead with their plan it'll meet sizeable opposition (equal force). So they've already failed.

Maybe then, they'll blow up a few nuke plants. That seems to work to subdue nations (and fuck beyond repair).

Long melee weapons.

Not kidding.

edit: oh and Spain? the only thing that keeps Spain in the EU are a thin layer of well-to-do in important positions. Spanish (IME) are never the ones to trust their government. They've endured Franco for decades ffs. They still value ALL real estate in pesetas. And when you ask ANYTHING about anyone that's not within walking distance, they'll say "Spain is very big". Which it is. It's a huge chunk of EU economy. Compare to the Irish? I think the Irish have been drunk all the time, to have accepted the amount of BS. Or maybe accepting screwing has seeped into their DNA? I love most irish I know, and am happy to count many as my friends but they've not been on the ball. Not like the spanish anyway.

Sun, 06/03/2012 - 15:12 | 2489547 Cathartes Aura
Cathartes Aura's picture

with regards your points re: bio weapons, it would be wise for everyone to do some research on this - and seek out whatever remedies you are drawn to (be they pharma or natural), so as to have these thing in your hands when / if they become necessary.

all NATO countries report aerosoling, and whether one "believes" in it or not, this is an easy method for "testing" lab creations toxic to the environment.  there are other ways of transmission including vaccines, ticks, and the corporate food supply - arm yourself with knowledge.

just a pair of "overall" posts, do your own targeted search - while the information is available online, before it goes silent.

thanks for bringing more news on this topic to light Reptil.

Sun, 06/03/2012 - 21:52 | 2490534 reader2010
reader2010's picture

They've got FEMA camps and systematic cleansing is much earier there. 

Sun, 06/03/2012 - 08:00 | 2488812 RiverRoad
RiverRoad's picture

Spain went broke once before fighting off the Islamic invaders; now she's broke once again this time with no Columbus.  Is there a pattern here??

Sun, 06/03/2012 - 10:08 | 2488924 Dulcinea
Dulcinea's picture

Been to Spain lately?  Coming in from an international flight, one can't spot a Spanish face in the crowd.  Lots of South American and African immigrants.  The first come because they speak the language, the second because this is the quickest route to Europe out of Africa.


Sun, 06/03/2012 - 10:37 | 2488961 withnmeans
withnmeans's picture

Your correct, not just Spain though, Italy and France have the same problem with immigration. Every time I go back it is worse, most of them illegal, it is good to try and better your lives "but do it legally". With this kind of illegal immigration you end up getting pockets of rundown neighborhoods, violence, drugs etc.. Then governments have to spend more on policing and a loss in tourism euro's. These countries are getting very run down and tired, they have lost their charm, their identity "in effect it is an IDENTITY THEFT of a different kind".

The Great Resetting is about to begin, I may have been off by about 10 years, but it is coming!

Sun, 06/03/2012 - 10:59 | 2489006 BattlegroundEur...
BattlegroundEurope2011's picture

When are the White Americans going "back" home to Europe?

Sun, 06/03/2012 - 03:18 | 2488640 Rubicon
Rubicon's picture

Propaganda is the peoples preferred method.

Sun, 06/03/2012 - 04:57 | 2488680 The Big Ching-aso
The Big Ching-aso's picture



We need a lot more Mother Teresas influencing this planet and a lot less Mother Fuckers.

Sun, 06/03/2012 - 06:50 | 2488758 francis_sawyer
francis_sawyer's picture

Yippe kai yay

Sun, 06/03/2012 - 02:37 | 2488611 Master Chef
Master Chef's picture

Just looked at Michael's youtube recomendation above. What an eloquent train of thought and by removing the odd mother fucking slip of english, it all made perfect sense to me. And looking around his house there, who said the size of ones television is inversely proportional to ones IQ. Not me, I have to rate this 5 stars.

Sun, 06/03/2012 - 11:38 | 2489105 logically possible
logically possible's picture

Master, couldn't agree more. Michael needs a new mentor. Take up watching the simpsons, anything but that deadbeat.

Sun, 06/03/2012 - 13:13 | 2489321 Alpacanio
Alpacanio's picture

Michael, Thats some great shit!

Sat, 06/02/2012 - 23:48 | 2488422 HomerToeclipper
HomerToeclipper's picture


Sun, 06/03/2012 - 10:45 | 2488971 The Reich
The Reich's picture

I'll give him less than three months before the Grim Reaper takes him.

Sat, 06/02/2012 - 23:07 | 2488347 knukles
knukles's picture

And the irony of it is.....

He's probably bet the ranch a la a ZH outlook on the world (against the EU, Euro, greater pan global integration, etc., etc., etc....) the profits upon which will be used to bankroll the future NWO efforts. 



Sat, 06/02/2012 - 23:26 | 2488389 DoChenRollingBearing
DoChenRollingBearing's picture

Probably so knukles, + 1 for the Soros History Lesson.

He thrives when things go bad for everyone else...  And wants to have it all, as one of the top of the Elite

Now if we can get gold into many more people's hands, however little, all this concentration of power and wealth be that much harder for Soros and his ilk to win.

Sun, 06/03/2012 - 00:06 | 2488446 LetThemEatRand
LetThemEatRand's picture

"He thrives when things go bad for everyone else..."

Unlike which other oligarch .01 percenter? 

Sun, 06/03/2012 - 09:06 | 2488850 slowimplosion
slowimplosion's picture

The Soros hate around here is laughable. It only comes from the OUTRAGE, yes the UTTER AND COMPLETE OUTRAGE that someone with some left leaning views could actually make money.  It just frosts the idiots to no end.


Also, how is the "Germany outsmarted everyone" bullshit working out for Germany now?  They outsmarted no one.

Sun, 06/03/2012 - 01:30 | 2488526 Ropingdown
Ropingdown's picture

Soros isn't even a major player in the US financially, though he's quite popular in NYC and among the left everywhere.  He made his fortune shorting weak currencies, and is at least as much of a low-life grave dancer as J.C.Flowers.  His power of reasoning lately has been weakened by his devotion to 28-year-old girl-friends who are simply too much for him.  Once again he is faced with the specter of Hungary going broke, under the thumb of a thriving Germany, and it upsets him.  The German establishment doesn't have any use for Soros, to say the least.  He thinks of the US as backward, a mere home for his money, a safe place full of idiots.  He finds his investment opportunities and girlfriends elsewhere in the world, and merely uses Treasuries as a temporary vault, given that we support an effective military and have oceans east and west.  What a fabulous leech. He's just another guy talking his book and hoping to scare Germany into bad choices as he works the rabble up to fever pitch. 

Sun, 06/03/2012 - 10:36 | 2488958 FlyoverCountryS...
FlyoverCountrySchmuck's picture

SOROS, while being the face of boogeyman, isn't the one to be concerned about. That would be HIS SONS, who are using that vast wealth to support anti-Democracy movements around the world. The Radical Socialist/Communist wanna-be dictators they finance, are just useful idiots.


They make MONEY by creating chaos, then shorting it.


Sun, 06/03/2012 - 12:27 | 2489226 logically possible
logically possible's picture

DoChenRoll, you are not the first to promote gold as a hedge against evil rich people and bad Government. Many here and others, such as Glenn Beck have been doing this for years. Has anyone considered just how much of the gold mining/production companies are owned by the Elite? The rich invested in mining when gold was at $250.00 an ounce or less. They have reaped well on there investments. Don't get me wrong I invest in PM's too. Yes, my point, the rich are always one step ahead of the sheeple. The Elite have already aligned themselves for the next play, when you and I have to sell our PM,s to buy food, fuel and other necessities.
I welcome you to expand positively.

Sun, 06/03/2012 - 16:52 | 2489833 Cathartes Aura
Cathartes Aura's picture

Glenn Beck is a 16dg freemason, Zionist / Mormon shill, supported by such as Joe Lieberman in his quest for "truth" - seriously, people need to get over this guy.

Sun, 06/03/2012 - 02:54 | 2488624 Hugh G Rection
Hugh G Rection's picture

Soros... I have wetdreams about beating his face with my bare knuckles until he closely resembles the south beach cannibal victim, sans the beard.


Why do these fucking turds inflict the world with such long lives? Rockefellers, Rothschilds, Soros, Kissinger... it seems the more vile the cunt, the longer it festers.

Sun, 06/03/2012 - 05:16 | 2488702 Zaydac
Zaydac's picture

Your venom is at least partially misplaced. I have never met any members of the Rockefeller family, nor Soros, nor Kissinger. But I did know Leopold de Rothschild who died recently and he was an honorable civilised gentleman. Admittedly he said himself that he was the last of his kind.

OK, you can all vote me down now.  Or at least the ignorant redneck hillbillies amongst you.

Mon, 06/04/2012 - 05:43 | 2491001 Zaydac
Zaydac's picture

Like I said, you're a bunch of rednecked hillbillies. I turn my back on you.

Sun, 06/03/2012 - 08:52 | 2488846 Polonius
Polonius's picture

The names you mention are at the top of the global elite's paycheck player pyramid. As long as they do their jobs and will their fortunes to NWO-sustaining foundations they are allowed continued access to their capital as well as medical technology and generally forgotten but archived palliatives and cures denied to herd.

Sun, 06/03/2012 - 03:50 | 2488657 williambanzai7
williambanzai7's picture

The future of the universe depends upon it...


Sun, 06/03/2012 - 05:23 | 2488705 Byte Me
Byte Me's picture

Hey WB7, shouldn't the RHS be divided by Pi the coeff of (intrinsic) penis size?

Sun, 06/03/2012 - 05:34 | 2488710 Jendrzejczyk
Jendrzejczyk's picture

A drunken Captain Kangaroo?

Sun, 06/03/2012 - 16:19 | 2489744 Escapeclaws
Escapeclaws's picture

Perfect, Banzai! This man thinks he's some great thinker, not being content to be rolling naked in all the lucre he's raked in. I'm sorry to see Einstein's image abused merely to point out Soros' vanity. General Relativity is one of mankind's greatest achievements. What has Soros done by comparison? He must have doubts about merely being a mogul, who leaves nothing of value behind. We Americans tend to be dazzled by wealth--that's all Soros means to anyone. Take away his wealth and there's nothing left. The same thing can be said of all these putrefacting oligarchs. At bottom they're bullies and thugs.

Sun, 06/03/2012 - 07:49 | 2488803 YuropeanImbecille
YuropeanImbecille's picture

This hungary born Jew is doing his masters jew satanist legwork as ordered by the commander in chief.

But typically for the fucking Goyim to hate the puppet rather than the satanist whores behind him :) that is why we are in this fucking mess to start with, because you lot are a big pool of stupid idiots who can't even see beyond the theater show.


So now you know the brutal truth, do not blame soros the puppet, look in the god damn mirror and blame that piece of useless meat you see in the mirror instead.

Sun, 06/03/2012 - 10:18 | 2488938 j0nx
j0nx's picture

Yup. The world is the way it is because the people ALLOW it to be this way. They ALLOW sociopaths to rule over them. If the people did not ALLOW it then it wouldn't be this way. Period.

Sun, 06/03/2012 - 10:10 | 2488925 Rick64
Rick64's picture

 I would assume that most of you haven't read the article. Soros basically says some of the same things that ZH and its readers have been saying for yrs.. That the economists and so called financial wizards treat investing as a science or its predictable using their bullshit calculations and models. On the other hand Soros sugar coats many of his arguments for the conception of the EU and keeping the EU intact.  Remember that Soros said gold was in a bubble while he was investing in it. Watch what they do not what they say.

Sun, 06/03/2012 - 00:44 | 2488483 lolmao500
lolmao500's picture

Dramatic situation in the Corinth prison, problems in Patra and Alikarnassos - Prisons are running out of food!

Greece's power regulator calls emergency meeting next week to avert collapse of electricity and natural gas system!/BreakingNews

All is fine and dandy in Greece... prisons running out of food and collapse of the grid...

Sun, 06/03/2012 - 04:35 | 2488674 supermaxedout
supermaxedout's picture

And what I saw on RT,  California is going to abolish the death penalty, its to expensive. Its a whole industry costing in average for each executed person since death penalty was re.introduced unbelievable 308,000,000 Dollar threehundredeightmillion  according to the formula: total cost divided by number of executions. Total cost include also the judicary costs spreading often over decades long.

They say this money should go now for pensions of policemen etc and life imprisonment is going to replace death penalty. Its way cheaper.

Why did they not make this calculation when the death penalty was re introduced. Ah, I know now. It made some people rich,


Sun, 06/03/2012 - 10:54 | 2488990 ultraticum
ultraticum's picture

. . . "pensions of policemen etc" . . . .


Well now, doesn't that just make your heart go pitter patter.   More bloated pensions for the parasites.  Such a great place to "invest" all that saved "revenue" as they say in gov-speak.

Sun, 06/03/2012 - 11:19 | 2489051 Jena
Jena's picture

Death row in California wouldn't be so expensive if actual executions were to take place.  There are over 700 prisoners on death row, which is more expensive to run than the general population, apparently.  The cost never ends.

No matter what you hear about California budgets, particularly in this political season, all money is going to go to the public pension system that is seriously under-funded.

Sun, 06/03/2012 - 04:10 | 2488664 slaughterer
slaughterer's picture

What I said on Friday: "Big Thing" = operation "master plan"

They wil get two good days out of the market with this claptrap as London desks are closed.  

Sun, 06/03/2012 - 06:50 | 2488759 Jacks Nipple
Jacks Nipple's picture

i am in europe, and just was at a chateau in the val d'loire for the last two weeks, the owner, a dutch man, has a childhood friend that is now high up in eu pm-ish-hood, and the talk behihind closed doors is that greece is going back to their own currency and then there will be an inteoduction of a second euro for the lesser, ie southern pigs, states. germany, france, holland, scand, they want to keep the euro nut dont want to have the same one as the others.

soon, look for euro A, and euro B. 

what a fucking shit show. 

hitchhiking is easy in france and backpacks can be heavy.


Au bitchez.

Sun, 06/03/2012 - 13:35 | 2489353 4horse
4horse's picture

while you do here seem at home to rompuy,barroso and juncker around, you also appear only too eager to also include this apparat's philo sophistry: newtonian physics. euclidian geometry. keynes, karl popper, and onomastics, you high-grade cretin and namedropper . . .

yet, what, schrodinger's cat-got-your-tongue?

NAME IT! you mouthy motherfucker

The Owners of the 12 Central Banks:
- Rothschild Bank of London
- Rothschild Bank of Berlin
- Lazard Brothers of Paris
- Israel Moses Seif Banks of Italy
- Warburg Bank of Amsterdam
- Warburg Bank of Hamburg
- Lehman Brothers of New York
- Kuhn Loeb Bank of New York
- Goldman, Schs of New York
- Chase Manhattan Bank of New York


___and while you're at it, eminence greasy, namedrop that Top Gun which is the High-Value Target if not HFT behind their full three-card montebank, bombast and warburg:

War uses up more materials more quickly than most anything else on earth. In war expensive equipment doesn’t wear out slowly, it gets blown up!
Where there is war, there is money to be made. For example, during the 119 year period from the founding of the Bank of England [rothspring] to Napoleon’s defeat at Waterloo  .  .  . The Bank of England was well and truly entrenched… and making a lot of money.
.  .  .  The Germans borrowed money from the German Rothschild’s bank, the British from the British Rothschild’s bank, and the French from the French Rothschild’s Bank

Remember J.P. Morgan? [rothspring] Amongst other things, he was a sales agent for war materials. Six months into World War I, his spending of $10 million a day made him the largest consumer on the planet.
The Rockefeller’s [rothspring] and the head of President Willson’s War Industries Board, Bernard Baruch [rothspring], each made some 200 million dollars. But profit was not the only motive for involvement.
Russia had spoiled the money changers plan to split America in two, [The Civil Warburg] and remained the last major country not to have its own central bank.
However, three years after the start of the war the entire Russian Royal Family was killed [rothsblood] and Communism [REDdead]was ushered in.
. . . strange to learn that the Russian Revolution was also fuelled with British money. Capitalist businessmen financing Communism?


And as a reminder . . . okalie dokalie: next time you think to shoot-off-your-mouth, annie oakley, think to shoot down more than just decoys


The Owners of the 12 Central Banks:
- Rothschild Bank of London
- Rothschild Bank of Berlin
- Lazard Brothers of Paris
- Israel Moses Seif Banks of Italy
- Warburg Bank of Amsterdam
- Warburg Bank of Hamburg
- Lehman Brothers of New York
- Kuhn Loeb Bank of New York
- Goldman, Schs of New York
- Chase Manhattan Bank of New York

whether there are about 300 3000 or 3000000 VERY POWERFUL__ individuals who Own The FED



Sat, 06/02/2012 - 22:47 | 2488300 goldencrumbs
goldencrumbs's picture

Dead cat bounce...

Sat, 06/02/2012 - 22:52 | 2488308 zorba THE GREEK
zorba THE GREEK's picture

Soros will be dead before Europe's problems are solved. So will a lot of us.

Sat, 06/02/2012 - 22:54 | 2488316 Bill D. Cat
Bill D. Cat's picture

Disclosure :

I fucking hate this asshole .

Sat, 06/02/2012 - 23:27 | 2488391 DoChenRollingBearing
DoChenRollingBearing's picture

+ 1

Nicely put.

Sat, 06/02/2012 - 23:42 | 2488414 DeadFred
DeadFred's picture

Bill, you are a fine judge of character.

Sun, 06/03/2012 - 00:11 | 2488450 potlatch
potlatch's picture


Sun, 06/03/2012 - 01:05 | 2488499 Freddie
Freddie's picture

Soros needs to meet a rope and lamp post.

Sun, 06/03/2012 - 11:53 | 2489135 Cosimo de Medici
Cosimo de Medici's picture

I've noticed that this is your solution to everything...rope and lamp post.  Since I haven't yet read in the paper that you have actually carried any of these lynchings out, I can only assume that you are merely a blowhard internet tough guy who intends to ride into town as the champion after somebody else has done what you think needs to be done.  Sounds a bit like a General...ready, willing and able to put someone else's life on the line for what you believe in.   Kind can I say.....cowardly.

Sun, 06/03/2012 - 04:41 | 2488676 piliage
piliage's picture

I've always wondered how Soros can always be so clean shaven given the fact he can't see his reflection in the mirror.

Sat, 06/02/2012 - 22:57 | 2488323 Oh regional Indian
Oh regional Indian's picture

"Less than credible sources report that Spiderman towels (which are now trading at negative repo rates) and cross-rehypothecated kitchen sinks are also key components of all future "master plans" "


Snap crackling Sunday Morning Humor... Awesome!!!!!

But this shrivelled old prune is the modern day kissinger. It should be obvious to one and all.

Very dangerous.

If they put him on the Playgirl center-spread, THEN we know we are in reeeel trouble! ;-)


Sat, 06/02/2012 - 22:58 | 2488325 john39
john39's picture


Sun, 06/03/2012 - 08:29 | 2488828 Debt-Is-Not-Money
Debt-Is-Not-Money's picture

Just a Hungarian Gypsy who's out to GYP us,

This is news?

Sat, 06/02/2012 - 22:57 | 2488324 slow_roast
slow_roast's picture

This is the first time ZH has ever pronounced that the end of everything was coming within it must be true. </sarc>

Sat, 06/02/2012 - 23:04 | 2488335 peekcrackers
peekcrackers's picture

fitting song "  Eurpoe .. the final countdown

Sun, 06/03/2012 - 01:23 | 2488515 Possible Impact
Possible Impact's picture

STEVIE WONDER  youtube link

"Master Blaster"

Everyone's feeling pretty
It's hotter than July
Though the world's full of problems
They couldn't touch us even if they tried
From the park I hear rhythms
Marley's hot on the box
Tonight there will be a party
On the corner at the end of the block

Didn't know you
Would be jammin' until the break of dawn
I bet nobody ever told you that you
would be jammin' until the break of dawn
You would be jammin' and jammin' and jammin', jam on

They want us to join their fighting
But our answer today
Is to let all our worries
Like the breeze through our fingers slip away
Peace has come to Zimbabwe
Third World's right on the one
Now's the time for celebration
'Cause we've only just begun

Didn't know that you
Would be jammin' until the break of dawn
Bet you nobody ever told you that you
Would be jammin' until the break of dawn
You would be jammin' and jammin' and jammin', jam on
Bet you nobody ever told you that you
(We're in the middle of the makin's of the master blaster jammin')
Would be jammin' until the break of dawn
I know nobody told you that you
(We're in the middle of the makin's of the master blaster jammin')
Would be jammin' until the break of dawn
We're jammin', jammin', jammin', jam on

You ask me am I happy
Well as matter of fact
I can say that I'm ecstatic
'Cause we all just made a pact
We've agreed to get together
Joined as children in Jah
When you're moving in the positive
Your destination is the brightest star



Sat, 06/02/2012 - 23:08 | 2488350 sitenine
sitenine's picture

I've got their master plan right here!


Sat, 06/02/2012 - 23:09 | 2488355 bugs_
bugs_'s picture

no no no

default and blame _______

Sat, 06/02/2012 - 23:17 | 2488371 sitenine
sitenine's picture

I'm not sure who's left to blame ;)  I'll tell you something though, I'd pee my pants with glee if Soros dumped all his money into Europe right before the defaults start.   That bastard would surely be a lot less dangerous if he were broke, and maybe we would all finally be free from his meddling idiocy.

Sat, 06/02/2012 - 23:08 | 2488352 bugs_
bugs_'s picture

dumkopf or doomclock?

Sat, 06/02/2012 - 23:09 | 2488353 gnomon
gnomon's picture

My dream for Soros would be an end like Ceausescu's, hunted down and executed like a dog.  That man is evil incarnate.

Sat, 06/02/2012 - 23:41 | 2488410 Joebloinvestor
Joebloinvestor's picture

I still remember the day they got him.

The quote was," Let it be known the anti-Christ died on Christmas day".

He was really, really hated.

Sun, 06/03/2012 - 18:10 | 2490025 tony wilson
tony wilson's picture

how dare you...

listen fella

dogs are lovely and mans best friend.

soros is an aids infected flea carrying the bubonic plague virus.

he is sitting inside the anus of a dirty filthy  ugly looking sewer rat called baron  rothshield of en gerland and is rael

Sat, 06/02/2012 - 23:09 | 2488354 FischerBlack
FischerBlack's picture

LMFAO. They held a 'Festival of Economics'?  I just don't know what to say anymore. Clowns! Puppets! Fried dough! Come join us!

Sat, 06/02/2012 - 23:27 | 2488390 Yellowhoard
Yellowhoard's picture

It's the economics version of the "shindig for syphilis" or the "hoopla for herpes".

They have it every year right after Lolapafacism.

Sun, 06/03/2012 - 00:47 | 2488487 Oh regional Indian
Oh regional Indian's picture


+whatever you like!

beautiful... :-)


Sun, 06/03/2012 - 05:00 | 2488690 piliage
piliage's picture

Yes, it is a real party. The Jeffrey Sachs dunk tank is particularly popular this year. The big climax on the final day is when they raffle off Belgium. 

Sat, 06/02/2012 - 23:11 | 2488360 gwar5
gwar5's picture

Soros is at the age when any day in the next 6 months could be doomsday.

Sat, 06/02/2012 - 23:17 | 2488372 Oh regional Indian
Oh regional Indian's picture

gwar, these guys have some secret zombie sauce that keeps them alive. Dead but alive. Worse than zombie. 

Prime example: Kissinger...don't count on the natural pop-off any time soon.

But we can hope.


Sun, 06/03/2012 - 01:38 | 2488534 Ropingdown
Ropingdown's picture

You had to mention Kissinger...  He and Haig cooked up the idea to send me and thousands of others to Laos for a few weeks, seven or so, just to see friends die and thousands of ARVN get that we could slow things down for a month or two and maybe get better terms in Paris...but, well, maybe going to China is a better turn, certainly more interesting and a grander photo op, might even get laid there.  What a world.  And we paid these guys.  And we give them passports.  Was this all some trade-off for getting the German rocket scientists?  Must have been.

Sun, 06/03/2012 - 01:51 | 2488559 Oh regional Indian
Oh regional Indian's picture

Roping, two words and it's not just rocket science. It was Germ warfare, mind control, Concentration Camp experiences...chemistry on humans.

Operation Paperclip.


Sat, 06/02/2012 - 23:36 | 2488405 DeadFred
DeadFred's picture

Only the good die young. Soros will reach 150

Sat, 06/02/2012 - 23:11 | 2488362 sharky2003
sharky2003's picture

I'm surprised this old fart isn't attending the Bilderberg Conference this weekend..

Sun, 06/03/2012 - 02:34 | 2488610 knowshitsurelock
knowshitsurelock's picture

He is attending Bilderberg.  It's one of his clones making this speech.  One of his other clones is busy looking for 25 year old girls to fuck.

Sun, 06/03/2012 - 06:28 | 2488743 midgetrannyporn
midgetrannyporn's picture

All the viagra in the world couldn't get that fossil's plumbing back in order.

Sat, 06/02/2012 - 23:13 | 2488365 disabledvet
disabledvet's picture

Europe is black hole right now. These changes should have been made BEFORE the introduction of the common currency. as it is introducing them now will only makes matters worse not better. there is with the common currency "only one banking market." yet the history here is too powerful. Spain will not cede to Germany fiscal control over their banks. The "answers" given here simply defy reality and as a consequence "are not answers at all" to quote Karl Popper. What WILL happen is a wave of nationalizations...something already begun in Spain. "Where it can be done" of course. Some of these banks are bigger than their countries.

Sat, 06/02/2012 - 23:15 | 2488369 Peter Pan
Peter Pan's picture

There will be some master plans, some public statements, ribbon cutting and handshakes, but the reality is that reality is about to make a comeback very soon.

The time ahead should be used to prepare both personally and as groups because no man will be an island when the fat lady starts to sing and perhaps break wind.

Sat, 06/02/2012 - 23:18 | 2488375 Pure Evil
Pure Evil's picture

So is it too late to shoot King Ferdinand and kick off the ClusterFuck to end all ClusterFucks.

Sun, 06/03/2012 - 05:43 | 2488715 Colonial Intent
Colonial Intent's picture

"It all started when archie duke shot an ostrich coz he was hungary"

Sat, 06/02/2012 - 23:18 | 2488376 q99x2
q99x2's picture

reflexivity of fraud is revolution sucka

Sat, 06/02/2012 - 23:19 | 2488381 chump666
chump666's picture

and the alternative is communism, which essentially their masterplan.  oh europe you are so troubled and dysfunctional.  

yes three mths + asia going to the wall. 

Sat, 06/02/2012 - 23:49 | 2488423 otto skorzeny
otto skorzeny's picture

anything is better than pseudo-socialism. capitalism only lasted until Greenspan headed up the Fed .let's get the class warfare going already-it's the only way mankind advances

Sun, 06/03/2012 - 07:40 | 2488795 chump666
chump666's picture

i agree.  greenspan went senile and started reading up on bizarre economic voodoo determinism, f*cked everything up after crawling into Clinton's a-hole who was on the Kennedy acid trip.  we have mentally ill people running the world.

ows was a good start, a little confused, but a good start.  part 2 will most likely be more violent.  why not?  goverments/cb's are eroding human value at an alarming rate.  it's natural that we will want to chop their f*cking heads off.

Sun, 06/03/2012 - 07:44 | 2488797 chump666
chump666's picture

as for soros.  well, the most ruthless capo you could ever want.  if he was still like that i would respect him.  he coined the phrase "go for the jugular" when he destroyed the GBP.  but now, a wanna be hooker with a heart of gold.  pitiful.

Sun, 06/03/2012 - 01:44 | 2488544 Ropingdown
Ropingdown's picture

Much of Europe is in excellent shape, relatively, including Norway, Sweden, Finland, Germany, Switzerland...just not the parts where Soros was born and has placed his bets.  Latin and Greek Europe?  Not so hot.  Hungary?  Turning fascist again.  But don't worry, Soros' delegates will place big bets against the Euro if he truly senses the end is near, no matter what his "ethics" and sentiments.  It's all about the Benjamins for George. And young pu_s_y.

Sun, 06/03/2012 - 08:42 | 2488836 spankfish
spankfish's picture

Dame Rebecca West wrote in Black Lamb and Grey Falcon about the Habsburgs and referred to the 20th century Habsburgs as dullards, imbeciles and lunatics.  Seems she new her EU elite... seems the EU is still infested with dullards, imbeciles and lunatics.  The rhyme of history. 

Sat, 06/02/2012 - 23:24 | 2488388 vincent
vincent's picture

Gloom, Doom, Kaboom...

Apologies to our European friends, as we know this is no laughing matter.

Soon, however, if you still have access to the webs you can watch the joke that is the US shitshow. I'm expecting the festivities to begin shortly. As an American citizen I am ashamed that our racketeers have been the source of most of this nonsense. Some, however, are about to reap the whirlwind. Fuck you and banker pieces of shit.

June Fed meeting will offer little direction, except to announce that US taxpayers will be on the hook for even more debt. Worth less MBS transferred to the public balance sheet. There will be no outright QE, as they will save that bullet until the criminals give them the green light. Plenty more M&A to sustain shit in the US for a bit yet.

We will print for Europe and swap for depressed Euros. Soon the trend will reverse and Timmah will trumpet the successful and profitable line item which will buy US a little more time. Plenty more shenannigans remain.

Anxiously awaiting the implosion of JPM. It's looking more and more likely.

Sat, 06/02/2012 - 23:39 | 2488407 Caviar Emptor
Caviar Emptor's picture

Yes, there's been a turn toward the least pro-active, least far-reaching, most head-in-sand policy (in)actions. Paralysis in a crisis (aka Tyler's deer meets headlights). 

One key reason is the natural death of 40 years of monetary policy and the post-Bretton global monetary system.

Simply put, the things that used to work don't. And they've tipped over to making matters worse. When times like these are reached there can a response of total inaction

Sun, 06/03/2012 - 02:13 | 2488595 slewie the pi-rat
slewie the pi-rat's picture

is that rilly what he meant by this?  [paste} Worth less MBS transferred to the public balance sheet. There will be no outright QE, as they will save that bullet until the criminals give them the green light. {]

this is: Paralysis in a crisis?


and:  do you agree with what he sees in his crystal ball? 

how much jpMorgue have you guys shorted here?  can i borrow $100K?  i'll pay you back...

Sun, 06/03/2012 - 07:37 | 2488792 RiverRoad
RiverRoad's picture

Forty years of monetary policy coincidental with the baby-boom phenomenon:  The banksters used and milked that cow.  Then they promoted, used, and milked the Euro cow as a place to secure and grow global corporate profits while trashing the dollar to compete with China and the developing nations.  Who they gonna milk now??

Sat, 06/02/2012 - 23:42 | 2488411 CommunityStandard
CommunityStandard's picture

+1  US will be the same old dog and pony show for awhile.  I have to hand it to the Europeans for having more than one political party.  The German election should actually mean something.

Sat, 06/02/2012 - 23:42 | 2488412 JR
JR's picture

and Timmah will trumpet the successful and profitable line item which will buy US a little more time. – Vincent

All true and speaking of Timmy’s little trumpet, consider this latest plug for the Fed from the man who, when asked about Mr. Dimon’s role at the New York Fed, told the PBS NewsHour:

“It is very important, particularly given the damage caused by the crisis, that our system of oversight and safeguards and the enforcement authorities have not just the resources they need, but they are perceived to be above any political influence and have the independence and the ability to make sure these reforms are tough and effective so we protect the American people, again, from a crisis like this.”

BTW, Simon Johnson, once believed to be on the side of the angels, said he agrees with the quote. And, as a further indictment of Simon Johnson, here was his advice on fixing the banking crisis: We should be strengthening the power of the New York Fed and other institutions to constrain reckless risk-taking. … Undermining the ‘integrity, dignity, and reputation of the Federal Reserve System’ in current fashion poses grave risks.”

Sun, 06/03/2012 - 01:42 | 2488542 Augustus
Augustus's picture

"And, as a further indictment of Simon Johnson, here was his advice on fixing the banking crisis: “We should be strengthening the power of the New York Fed and other institutions to constrain reckless risk-taking. … Undermining the ‘integrity, dignity, and reputation of the Federal Reserve System’ in current fashion poses grave risks.” "


The Soros speach does somewhat identify one source of the problem.  ALL debt of Euroland countries was rated as riskless, making it the investment of choice for all Euroland banks to buy and repo with the ECB.  That is the reckless risk-taking that has evolved into the current revelation that those governments now have to screw someone as they cannot pay.

Now, as to Simon Johnson' comment on reckless risk-taking, would the constraint of reckless risk-taking lead to a restriction on purchases of US Treasury issued debt?  It is impossible to believe that will occur.

One talking head recently detailed why the large banks in the US could not be broken up.  His reasoning was that, with so much new debt to sell and rollover, the Treasury could have difficulty in finding sufficient buyers if unable to place large pieces with the large banks.  He commented that it would be just too much work to have to deal with smaller banks in Des Moines, Louisville, Cincinnati, Richmond, and Tampa.  Perhaps he did not recognize that he was giving the game away by revealing that the ultra large US banks had simply become tools as the Euroland banks became, utilized to take on geometric increases in "riskless" government debt.

The game is not over yet in the US but the current direction is leading to the same catastrophy.

Sat, 06/02/2012 - 23:31 | 2488396 veyron
veyron's picture

All i see is a wall of text.  Can someone tl;dr it for me?

Sun, 06/03/2012 - 01:16 | 2488501 JohnG
JohnG's picture


We're fucked.

Sun, 06/03/2012 - 01:50 | 2488553 Ropingdown
Ropingdown's picture

Given that Lord Jacob Rothschild has just partnered with the Rockefeller Investments to send money to north america...and with his cousins to send money to the east, and is not interested in western european investments near-term, I'd say the writing is on the wall.  We're not fucked.  We've got 11 carrier battle groups and all the trimmings, lots of natural gas and plenty of productive farms.  Somebody's fucked, and I think their name starts with an E.  Give us time, though.  We'll get there.

Sun, 06/03/2012 - 01:17 | 2488402 tom a taxpayer
tom a taxpayer's picture


Help! What index is the Crossover refering to in these quotes:  "which will only find a resolution once XO crosses 1000 as we and Citi suggested two weeks ago". That article stated: "But 1000bp on Crossover is much closer than you imagine."  

What stock, bond, or other index is the crossover refering to, and what crossover is it refering to?


Sun, 06/03/2012 - 01:40 | 2488532 tom a taxpayer
tom a taxpayer's picture

JohnG - Thanks for the link. Looking about Investopedia some more, I think Tyler's article may be referring to the following definition of crossover:

"The point on a stock chart when a security and an indicator intersect. Crossovers are used by technical analysts to aid in forecasting the future movements in the price of a stock. In most technical analysis models, a crossover is a signal to either buy or sell."

In any case, what I'm really trying to find is 1) what stock, bond or other index, and 2) what indicator Tyler's is talking about when he says 1000bp on the Crossover is closer than we imagine.


Sun, 06/03/2012 - 13:38 | 2489362 tom a taxpayer
tom a taxpayer's picture

bank guy in brussels - Thank you for the world-class education!

Sat, 06/02/2012 - 23:42 | 2488413 BlackHorsewithScales
BlackHorsewithScales's picture

"...there has been a widespread recognition, both among economists and the general public, that economic theory has failed. But there is no consensus on the causes and the extent of that failure."

Knock me over with a feather.  Keynsian claptrap has failed.  Economic theory has been narrowly applied, as in all meddling and manipulation by statist interests, their lackeys in academia, and TBTF investment banking benefactors.  

For all the problems these charlatans spawn, they CAN teach us a thing or two on how to live in grand style...until they don't.

Sat, 06/02/2012 - 23:45 | 2488418 CommunityStandard
CommunityStandard's picture

Don't forget unsustainable government spending.

Sun, 06/03/2012 - 05:56 | 2488721 WTFx10
WTFx10's picture

The governmnet spends because they are told to by the ownwers nothing more ,nothing less. The government does NOT work for you.

The government is a tool and it is NOT "we the people" owned.

Sat, 06/02/2012 - 23:45 | 2488417 dolce vita
dolce vita's picture

The Whole CONcept was based nonliner thinking. Dumb asses

"its that pesky" free will  " thing popping up everywhere and  just screwing up our NWO plans".

George Whore-us' nighty night cell phone call  to his muppeteer smashing  masters.  

Sat, 06/02/2012 - 23:46 | 2488419 svendthrift
svendthrift's picture

We lost World War 2.

Sat, 06/02/2012 - 23:51 | 2488426 walcott
walcott's picture

They're licking their chops and jerking off all over themselves about resource rich middle east and africa. 

They could give a shit about America that tit has been sucked dry. That's why they're selling it to China.

Sun, 06/03/2012 - 00:03 | 2488440 Azwethinkweiz
Azwethinkweiz's picture

Soros is the concert promoter who has just come out at the end of the show when everyone is heading toward the exit doors. He proclaims, "Encore! Encore! We have a few more great acts for you all to be entertained! Stick around!"

Meanwhile, his cronies are out in the parking lot syphoning gas out of everyone's tanks getting ready to sell it back to us at a huge premium....yep, it's all part of the show.

Sun, 06/03/2012 - 00:03 | 2488442 JR
JR's picture

And, according to Hugo Duncan writing on June 1 in the UK Daily Mail, it was none other than Robert Zoellick saying Europe is heading to the 'danger zone."

Writes Duncan:The head of the World Bank yesterday warned that financial markets face a rerun of the Great Panic of 2008.

“On the bleakest day for the global economy this year (May 31), Robert Zoellick said ‘crisis-torn Europe was heading for the “danger zone”.

“Mr Zoellick, who stands down at the end of the month after five years in charge of the watchdog, said it was ‘far from clear that eurozone leaders have steeled themselves’ for the looming  catastrophe amid fears of a Greek exit from the single currency and meltdown in Spain.”

Writes Duncan: “Mr Zoellick warned that the coming months could be as bad as the collapse of US investment bank Lehman Brothers in 2008.

“He said: ‘Events in Greece could trigger financial fright in Spain, Italy and across the eurozone. The summer of 2012 offers an eerie echo of 2008.

“‘If Greece leaves the eurozone, the contagion is impossible to predict, just as Lehman had unexpected consequences.’ …

“Mr Zoellick said: ‘Eurozone leaders need to be prepared to recapitalise banks. In the eurozone, the guarantees of some national sovereigns are unlikely to be sufficient and only that of the “euro-sovereign” will suffice.

“‘It is far from clear that eurozone leaders have steeled themselves for this step. Eurozone leaders need to be ready.

“'There will not be time for meetings of finance ministers to discuss the outlook and debate the politics.

“'In panicked markets, investors flee to safe assets, sparking other flames.’”

Read more:

Sun, 06/03/2012 - 00:32 | 2488472 palmereldritch
palmereldritch's picture

2008 Boogie-Man update.  Give us what we want (Eurobonds and then Global Currency...) and no one gets hurt.

Zoellick would be a helluva dinner guest, don't ya think?

Sun, 06/03/2012 - 00:44 | 2488451 Nukular Freedum
Nukular Freedum's picture

Reflexivity theory! It's called feedback! Feedback! Thats why markets adjust you fool.
Any new ideas George?

"And I saw a woman clothed in the sun."

Sun, 06/03/2012 - 00:13 | 2488453 dolph9
dolph9's picture

The only people going down are the corrupt banksters.

They will always lie, and say, "if we go down, the world burns."

Reject their offer.  Keep some physical cash on hand, get your assets out of the banking system, and stock up on metals and goods and tell the banks to Fuck off.

Sun, 06/03/2012 - 02:45 | 2488618 knowshitsurelock
knowshitsurelock's picture

I accept our offer upon proof of claim?  It's all digits on a computer screen, leveraged to 1000 times underlying assets.  It's not anything but an illusion of debt.

Anyone have a safety pin to prick this bubble?

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