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Tim Geithner Tells Germany It Has To Sacrifice More Taxpayer Money To Protect The Status Quo
Tim Geithner, in his third third annual pilgrimage to Europe, the first two of which concluded with one after another more discredited stress tests (because in Mark-To-Unicorn America they worked sooooo well), has a slightly different message to the locals on how to run their failed monetary union. From Reuters: "Treasury Secretary Timothy Geithner is likely to urge euro zone finance ministers on Friday to speed up ratification of changes to their bailout fund and consider boosting its size, an EU source said on Tuesday. The official said Washington was worried that the euro zone was not acting fast enough to enhance the EFSF fund and that the stability of the global financial system was at stake. He is likely to tell the ministers that they should consider increasing the size of the EFSF to equip it better for the needs of potential bank recapitalization. "He will probably tell Germany to give up its resistance to an increase in the size of the EFSF," the source said. A well connected fund source told Reuters Geithner had been pushing for a solution for European banks along the lines of the TARP program in the United States, but had not made much headway." Translation: Germany has to immediately throw billions more of taxpayer money into the insolvent bank pit (just like America did), or else Tiny Tim will get angry. Well, if Germany's ruling class was against pledging over 100% of its GDP to bailout Greece and the other insolvents, it will surely be persuaded to commit political suicide after the last man standing from Obama's administration, who still inexplicably has not been fired for gross incompetence (and also prosecuted for tax evasion), has his say. And just as the short selling ban lasted all of one week before Europe's banks tumbled, even a favorable uptake of the idiot's proposals will at best lead to a 24 hour spike in prices followed by what will likely be the terminal tumble into the abyss of failed Keynesian-Bernankian experimentation.
From Reuters:
The new EFSF powers will only kick in once ratified by euro zone countries. In some, like Germany, Finland, the Netherlands or Slovakia, public opposition to bailouts is making parliaments reluctant to commit more money and power to the fund.
"He would point out to countries like Finland, the Netherlands or Slovakia how important it is to overcome their domestic obstacles for the sake of the rest of the world," the official said.
"Also, he would tap the Greek finance minister on the shoulder to make him recognize the responsibility of Greece," the official said, amid growing irritation with Athens among international lenders for its repeated failure to fully implement agreed reforms and austerity measures.
The ministers will also discuss ways to sustain growth as the euro zone sovereign debt crisis and high oil prices sap global economic progress.
The official said that at the latest G7 meeting of finance ministers in Marseille, Geithner put pressure on the Europeans to use their fiscal room for maneuver, especially Germany, when it came to helping the economy.
Luckily, Germany doesn't mince its words when dealing with massive idiocy:
Berlin pushed back, sources at the meeting said.
"The demand would not be new stimulus packages but less restrictive budgetary tightening or cut deficits only over a longer time period than foreseen so far," the official said
Sorry Tim: now that nobody, not just Chinese students, takes you seriously your time has officially run out. Please resign while you still have the opportunity to do so on your terms.
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Timmey tells
Holy fuck the balls on that guy,
He's a communist wrapped up in chicken feathers. Cluckin' prick.
He has gone there to 'stress test' greek banks.
"He would point out to countries like Finland, the Netherlands or Slovakia how important it is to overcome their domestic obstacles for the sake of the rest of the world," the official said.
We are all globalists now.
"Aww, c'mon -- bailout out the banksters -- ALL the cool kids are doing it!"
Peer pressure, from Geithner??? Bwahahahaha!
And just how does Timmah have the overall authority in Germany? Are we already under the New World Order...just no one told us yet?
Hard to say, Dog. Since America is now a fascist state, and seemingly well on its way to becoming a Marxist shangrala, it is hard to know.
What is known is that everything that is causing markets to rise is pure, unadulterated BS, as magic fizzy lifting HFT machines miraculously SELL the market UP. As far as I am concerned, an imminent Martian invasion is as likely as anything else that might happen this afternoon.
There is no market. There is no representation in DC. Is there European sovereignty? Don't know, Dog. But there are a lot of very angry Greeks and Italians...for whatever that is worth [which is more than the US sheeple can claim].
Don´t forget the very angry Germans.
76% of their population oppose the EFSF / ESM measures and so 62 million Germans would say: No way, Geithner !
How many troops we got in Germany?
Not enough, but there's enough to turn out every US Citizen's pockets in order to fund your favorite Govt program...
==> And just how does Timmah have the overall authority in Germany
Because, y'know, we like to send invading armies to convince others of our "authority".
Germany never paid reparations when they lost WW1 and didn't pay anything for destroying Europe (including Greece) in WW2. What comes around goes around, just saying.
Why should the Germans pay reparations for WWI?
Of course, with his head stuck so deep in the sand (protective measure), he doesn't realize how much they stand out.
He just better hope Merkel doesn't walk up and crush them, in a play to her base.
duplicated somehow... my apologies
Someone ought to inform that evil little prick that the #1 rule of survival is "never pet a burning dog". Hopefully some German will be just pissed enough to grab Timmay by those balls and utter "ve have vays to make you shut the phuck up you evil little twat." As if he had any credibility behind what he has to say anyway.
Timmah says 'Screw the people, you must sacrifice them so the billionaire bankers club may live. And dont worry, if they revolt, we'll look the other way as you kill them in the streets...we're planning the same here in the US too so dont worry, bend them over and kornhole them all you want.'
Timmah's playing the same old script. Greece is Lehman Bros, and will have to fail so that the others know who's in charge.
Bought them a breather last time around.
There's an old saying..."Never trust a doctor whos office plants have died."
especially since there was ' no risk' of a US downgrade
He never said risk to what though. Maybe he was talking about his job.
This is like calling in the commissioner of the NFL to determine whether or not there should be a football game.
I can hardly until Timmy and Jimmy (Cramer) team up at CNBC's Delivering Alpha Conference tomorrow.
An event like that is just begging for a laugh track.
TIMMY!
Indeed! Tim-AY is just such a dork. Tim-AY, just go away, o.k?
they too must raid the government employee pension plans to "spread the wealth around".
http://www.msnbc.msn.com/id/43046428/ns/business-stocks_and_economy/t/us...
The only place wealth gets spread to (in any significant way), is up the societal pyriamid.
the other shoe drops.... what a nice setup it was. first rack up banking debt in an intoxicating spiral. then fudge the accounts so it's public debt. then defailt globally, followed by a gold standard (firmly in the hands of the banking cabal who confiscates the souverign's gold on account of said public debt.).
Geithner go home. We don't want scum like you here. We are on to your game. You are not welcome. Give us our gold back NOW!
timmay says just do it, like he an obama do
This world is so sick of 'just doing it'
I second the resignation motion, all "Yays" please make yourselves heard.
his replacement could be far worse.
his replacement will be far worse.
FTFY
I'd like to replace him with a gold statue of me sodomizing Lloyd Blankfein. It would be just as effective and 'hardworking'. Questions?
Replace the system, not the tool!
Is it just me, or does anyone else want to cut that elf's head off with a shovel?
Oh no, I've got a very sharpe axe with his name on it, his ass and many others are mine.
A dull, rusty axe would be preferred. Perhaps one with the crusty semen of an aids infested old man on it?
It's not just you. I'm sure that a lot of creative minds have given some thought to the method of Timmah's "final disposition".
Personally, I'd like to see him standing on the gallows, just before the main event, forced to listen to his own "best of" moments (e.g., "we believe in a strong dollar") as the gathered crowd laughs uproariously.
Clearly, we germans all but wait for the american banksterface to tell us what to do. Exactly what poeple love here the most, to be told by the allied powers how to run our country and it's finances, 66 years after the war. Better get this clown transfer our gold reserves back here where they belong straight away and after that: Shut up and mind your business.
What a parody we live in.
Sorry Fritz, but we sold that gold decades ago. Could we interest you in some nice mortgage backed securities instead?
No to the securities??
We do have some depeleted Ukranian............No.
How bout this DIY colonoscopy kit............no, that is not a hairbrush.
Send in the clowns:
http://www.youtube.com/watch?v=FJvUCDP9u0I
I smell a populist revolt in the making. Every single time the word "bank" is said close to "increasing debt" one more person is turned.
Pretty soon enough people will ask "What do the banks do?"
pods
Other than ass-raping humanity? I'd like to know the answer to that as well.
For shits-n-giggles I like to tell people how a bank makes loans.
The looks are priceless.
pods
That makes for fine sport indeed. This is one of my favorite techniques:
"Suppose you deposit $100 into a savings account. How much of that $100 can the bank then loan out?"
When I tell them that the bank can loan out $1000 of their $100 deposit, you start to see smoke coming out of their eyes and ears.
I think many of them would still rather take the banks' ass-raping than try to understand fractional reserve lending.
He means: Print, fuckers, print !
There is only one country I know of that would listen to Geithners bullshit and they just hit an agragate loan to GDP of 100%, Guess who is that stupid?
ummm.....Mauritius?
Lemme guess. They have always been at war with Eastasia?
pods
starts with Banana
Dumbfuckistan?
Retarded States?
United States of Amphetamine?
I am sorry, Timmy. We cannot print faster and more EURO, since Ben bought all available presses last decade.
Bad luck! Want a cookie?
I'd like to see all the banksters give up things to bail out the banks, noooo can't do that can they? It has to be children, the poor, the sick and the elderly
"He would point out to countries like Finland, the Netherlands or Slovakia how important it is to overcome their domestic obstacles for the sake of the rest of the world," the official said."
Really?! REALLY?! Is this a JOKE? Did TD forget the <sarc on> button?? I can't even think of a bad enough expletive to show my contempt and dismay.
Really, with Treas Sec comments like that, how long until the US ends up bridging the funding gap?
Somebody just slap him for me.
The status quo has got to go. My 1st post so please be patient!
A hearty welcome!
(and yeah, I junked you just cause it is tradition)
pods
Sorry, the correct form is:
Hey, hey! Ho, ho! The status quo has got to go!
Then you follow that up with some counting chants. Don't ask my why, but allegedly this is an effective means of social change.
(welcome)
1, 2, 3, 4, we dont need this Timmah weasel no more!
Something like that.
According to a recent poll in Finland if given the opportunity to vote for or against Euro-membership now, only roughly 40% would vote for it. A lot of people are VERY angry because people didn't even get the chance to vote abt euro-membership. It was only the EU-membership which people got to vote for and it was the social democrat eurofanatic Paavo Lipponen, a former prime minister, who pushed Finland into the insolvent tax payer raping french wet day dream called eurozone.
EU-kleptocrats will push this ridiculous Shangri La as long as people let them, no matter how much money they don't have they have to spend/commit to the insolvent Banana Republics and banking cartel. Us "mortals" in many countries want this to end now but many are still happy watching tv and enjoying the soon to be burst housing bubbles. Interesting to see when the ordinary working people finally wake up in numbers and throw their respective TPTB out with the bathwater. If ever.
This guy thinks he is sooo humungusly fantastic!!!
I think everyone will buy his advice ;-)
Timmy's just being the messenger for the global feudal lords. Tim, his masters, and the hypnotized serfs who watch mainstream media and shop at Walmart all want to maintain the "status quo" in which the lords rule and the serfs are somewhat comfortable enough. Too many people are afraid of change of any kind and would rather accept the certainty of routine slavery than face uncertainty and thinking for themselves.
JMHO of course.
Change is hard. Especially compared to comfortable enslavement, which is so easy, most fail to ever recognize it. At least as long as the comfort lasts.
Tim has about as much credibility as the Palestinians (who lost it all when they strapped bombs to kids).
What a fucking clod.
What is he gonna tell them?
That Bernake won't be able to do any more secret bailouts?
The Chinese laughed him out of their country.
so put it in perspective. Germany sees Iceland and Greece. It knows it has to choose which one it will be soon.
WTF? We will not listen to that Geithner Clown. We want that guy with the dark complexion from the White House to come over to Berlin, go on his knees, and say: Please, please, Germans, you have to save us all. Hahahahaha, this will be fun, worth some billions.
Timmah, Timmah, Timmah did you forget to take your meds agian. Pretending your King of the world is not acceptable so please go home, med up and take a nap and you'll be all better in the morning.
Dr. Demento
This guy needs to be tried and for his crimes of economic terrorism and against humanity as a whole.
How this criminal continues to go around spreading flawed policy is astounding, but in this crazy fucked world of idiotic policymakers I guess it's not all too surprising.
Put him away for good!
So, again, why is he coming?
the male prostitutes
of course! And that also explains the massive deficit and exponentially growing debt load. Timmah wants only the best and it ain't cheap.
At least the Italians know how to prostitute themselves properly. Sending Geithner to Poland is probably the greatest dishonor Obama has ever bestowed on a foreign power!Bouncing Baby Timmy has dumped another load on Der Fatherland, too. I doubt that Merkel will change his diapers either.
Easy for him to say, since he doesn't pay his taxes.
Head Keebler Treasury Elf tells Europe, "If it moves, tax it."
Translation: "The bankers that put you in this terrible situation still want 100 cents on the dollar and refuse to take a haircut for their gambling activities, so therefore your entire country should suffer for the next few decades."
sounds good. sign me up for that dealio.
Yavol, Herr Geithner! Right this way, we'd like to show you the inside of something we've been saving all these years. Yep, that's right, a brick lined, easy-bake oven. Drink up Satanists!
What about we create special bank money so they can print it to infinity for their own bailouts and we can have our ``population money`` that we print ourselves?
Everyone will be happy. Banks will get their bailouts. People will get their strong currency. Win win.
The bankers can trade their unlimited bank money within their group.
Well, the last time they lost -- another hitler parody:
http://www.youtube.com/watch?v=bNmcf4Y3lGM
The Anglo-Saxon banking catel has had Germany by its balls since the fall of Berlin in 1945. What do you expect?
Maybe we should tell the "finance world" using an old basic programming language of sort :listen, want game go on? start Yes / No? If yes, then set interest rate = premium for risk, if interest>= f(inflation rate; DeltaGDP) then debt unsustainable then goto start
if interest rate unsustainable then State won't sell public debt AND won't repay what you already have in hand and State will decide if, when and how debt will be repaid (see Argentina/Iceland), if you don't agree on this, please feel free to send tanks and air force to pick up our valuable assets, but it won't be a leisure trip... If the politicians of the major nation (US included) would speak like this MAYBE... MAYBE the people believing in doing God's job would come back with their feet to Earth, or else sooner or later they can expect to go out their offices feet forward because of angry mob...
Let just see how fact Timmy can make himself persona non grata in Berlin.......
Really? Telling every German you need to go into debt or give your social safety net so Greece to delay once again a default?
How did we get stuck with this loser?
And this is being nice....
Fuck You you Little piece of timmy shit......
Fucking scum.
Sometimes i get angry and want to say something antisemitic. Today I will be strong and not let Timothy get to me.
Good choice. The best you can do now, use arithmetic as the rule of law.
Then ridicule the central planners for not using the rule of law via math. It will degrade their self-esteem rapidly. The process has already started. Join the rebranding of America.
Anyone one of you political cunt licks wish to use the campaign slogan, go right ahead. Bottomline, house cleaning will indeed take place. Words no longer amount to shit.
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Uber Bullish for the Barbaric Metal.
THANKS TIMMY FOR LETTING US KNOW WHAT WE HAVE TO DO!!!!
AND GO FUCK YOURSELF BEFORE I PUT A BREZEL UP YOUR ASS...