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UK Vs France: You Decide Who Is Worse

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Thu, 12/15/2011 - 15:00 | 1984218 GeneMarchbanks
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Thu, 12/15/2011 - 15:04 | 1984239 hedgeless_horseman
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Where the food is ugly and the women taste badly.

Thu, 12/15/2011 - 15:05 | 1984250 bob_dabolina
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Thu, 12/15/2011 - 15:08 | 1984272 Manthong
Manthong's picture

OT but interesting:

CNBC: Gold Sheds 'Can't Lose' Status: Now, No One Wants It
That’s the word from the mainstream so it must be true.

Thu, 12/15/2011 - 15:29 | 1984360 Reptil
Reptil's picture

Excellent. My truck will be backing up in januari. Please keep up the efforts and continue the fairy tale please?

Really... I'm all for correct information, but if people still believe this shit, they WANT to believe it.

Financial death becomes then financial suïcide. Not my problem.

Thu, 12/15/2011 - 19:16 | 1985386 trav7777
trav7777's picture

well, shit that didn't take long.  So the shoeshine boy is gonna say sell gold now?

Thu, 12/15/2011 - 20:12 | 1985589 Problem Is
Problem Is's picture

Jamie & Lloyd: Amerika's Shoeshine Boys

If it wasn't for fraud and theft as Wall Street's business model... Jamie 'n Lloyd would be shining shoes...

Gimme a shine, Jamie...

Thu, 12/15/2011 - 21:36 | 1985687 sqz
sqz's picture

Both UK and France will be downgraded, though for very different reasons. It is also irrelevant, at least in the case of the UK, until after Eurozone breakup and the short/medium-term consequences!

Fri, 12/16/2011 - 02:47 | 1986182 BigJim
BigJim's picture

I was under the impression (too drunk to look it up now) that the UK's debt is of much longer maturity... that must count for something.

It's having to roll over the short-duration debt that's crushing the PIIGS, is it not?

Fri, 12/16/2011 - 11:54 | 1986923 Mr Shush
Mr Shush's picture

The longer maturity on UK debt is a factor, but I would say it's less important than the demonstrated willingness of the BoE to print, print, print, as compared to the ECB's reluctance. The weakness of the UK position will manifest itself in high inflation, not a default, and that's beyond the remit of the ratings agencies, who explicitly judge only the likelihood of a "credit event".

Between the devil and the deep blue sea, it may be best to stick with Norway.

Thu, 12/15/2011 - 15:39 | 1984400 pine_marten
pine_marten's picture

Time will tell.  Gold at 700 is a possibility.  Lots of real wealth lost in that event. 

Thu, 12/15/2011 - 15:57 | 1984469 He_Who Carried ...
He_Who Carried The Sun's picture



Ze Celts, William ze Conquerer and ze Anglos and ze Saxons had it all wrong.
They should've stayed away from Barbaria!

Fri, 12/16/2011 - 07:42 | 1986343 Non Passaran
Non Passaran's picture

IMHO it is unlikely that we'll see serious shortage of money as long as socialist Euro-democracies exist.. I remain long PMs and miners, in fact I added to my positions 2 days ago.
I expect some kind of QE in the US by end of January.

Thu, 12/15/2011 - 15:05 | 1984258 Pegasus Muse
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Hhmm.  Wonder if their stats are any less manipulated than ours?

Thu, 12/15/2011 - 15:28 | 1984354 He_Who Carried ...
He_Who Carried The Sun's picture



Desolee monsieur Cameron, mister Noyer is right.

Osborne 0 : 1 Noyer

Thu, 12/15/2011 - 15:42 | 1984418 King_of_simpletons
King_of_simpletons's picture

So this is what we have become asking ourselves "whose shit smells better".  All of us are swimming in shit. Relax and enjoy the implosion whereever you are.

Thu, 12/15/2011 - 15:55 | 1984462 Manthong
Thu, 12/15/2011 - 21:13 | 1985717 Seer
Seer's picture

To borrow from a favorite saying: A battle to be the best looking horse at the glue factory.

Thu, 12/15/2011 - 15:57 | 1984467 RMolineaux
RMolineaux's picture

Goldman did the biggest manipulation of all times with Greece.

Thu, 12/15/2011 - 15:18 | 1984315 slaughterer
slaughterer's picture

HH, that is completely disgusting.  

Thu, 12/15/2011 - 15:50 | 1984423 hedgeless_horseman
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Which one?  Cuisine Anglais like spotted dick (below), or cunnilingus anglais?

Thu, 12/15/2011 - 15:54 | 1984460 RMolineaux
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Well put!

Thu, 12/15/2011 - 16:54 | 1984727 Dugald
Dugald's picture

That is NOT spotted dick, aka rolly poley pudding...looks like cake with custard.....God damn..if we can't have truth in pudding, then fuktus cactus we truely are....

Thu, 12/15/2011 - 17:13 | 1984827 hedgeless_horseman
hedgeless_horseman's picture



...yet, maybe there are some areas where it is better to not claim expertise?  At least you did not say, "That is NOT true...Winehouse snatch tastes like butterscotch!"

Sat, 12/17/2011 - 12:49 | 1989835 mutt
mutt's picture

bread pudding; a claimed speciality by jamaicans, brummies, welsh...

creme anglais done proper-like is a real nice sauce

Thu, 12/15/2011 - 16:01 | 1984480 Hard1
Hard1's picture

UK macro numbers look a bit worse (both are fucked up), but consider the following:

-Cost of aiding your Euro neighbours:  2-3 Trillion Euro

-Having your own currency and the ability to monetize your debt:  Priceless

Thu, 12/15/2011 - 17:56 | 1985105 TK7936
TK7936's picture

The Eurozone can monetize there debt they just havent done it yet.

Fri, 12/16/2011 - 12:20 | 1987010 Mr Shush
Mr Shush's picture

But France isn't the Eurozone, and the Germans really don't like the idea of monetization. We know the BoE will print if it feels slightly bored on a Thursday lunchtime; the ECB, not so much.

Thu, 12/15/2011 - 20:25 | 1985618 johny2
johny2's picture

the argument of the currency devaluation being better than default on debt makes little sense, like two drunks arguing who is going to have worse hangover tommorow. They are both the same thing, as both british and french people are going to find out more or less at the same time.

Thu, 12/15/2011 - 15:10 | 1984284 tarsubil
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Thu, 12/15/2011 - 15:57 | 1984468 tarsubil
tarsubil's picture

Germany? Meh, I give up!

Thu, 12/15/2011 - 17:25 | 1984915 James-Morrison
James-Morrison's picture

The Three Stooges seems appropriate.

Mo seems like Germany, Larry is France and Curley is Great Britain.


LARRY:  All for one!

MOE: One for All

CURLEY:  Every man for himself!

Thu, 12/15/2011 - 15:22 | 1984332 Alien Invader
Alien Invader's picture

Let's see the US of A for comparison, oh wait forgot we are comparing AAA nations.

Thu, 12/15/2011 - 15:52 | 1984448 RMolineaux
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Who is worse?  The UK, of course.  Those snobs don't know how to cooperate with anyone until you threaten to remove their genitals.   There is no reason for them to have anything to say about it anyway, since they refused to join the euro in the first place.

Thu, 12/15/2011 - 16:43 | 1984667 huanjo
huanjo's picture

Sorry, it's in our nature. We've been doing it for the last 600 years or so. Europe has constantly been trying to force their ways upon us, but we have the best "don't take no shit" attitude in Europe, so that has never happened.  

Thu, 12/15/2011 - 16:48 | 1984687 RMolineaux
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And when you get into a jam with that attitude, you could always come crying to the US.

Thu, 12/15/2011 - 18:57 | 1985330 huanjo
huanjo's picture

Well, 300 years ago the US was British, and today you have inherited that trait of the British culture - the US don't take shit either.

Thu, 12/15/2011 - 19:18 | 1985392 trav7777
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the UK:  where white people have so little balls that they strip down when black people riot.

Where is Napier's "cultural sensitivity" program when you need it?

Thu, 12/15/2011 - 19:08 | 1985365 smiler03
smiler03's picture

RMolineaux - Putain!

Concorde & Eurotunnel?

Thu, 12/15/2011 - 16:03 | 1984503 RMolineaux
RMolineaux's picture

It is probable that Noyer knows exactly what the true situation is, but like all central bankers, he makes these statements in an attempt to reassure the public.  The French public, understandably, has a built in skeptism about anything the conceited Brits have to say.

Thu, 12/15/2011 - 15:01 | 1984225 I think I need ...
I think I need to buy a gun's picture

aig lehman brothers mf global madoff



Thu, 12/15/2011 - 15:02 | 1984230 Theta_Burn
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French fried..

Thu, 12/15/2011 - 15:19 | 1984322 Mountainview
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The UK has it's own Sterling-France is using something called EURO... ça c'est la différence..

Thu, 12/15/2011 - 15:35 | 1984387 tocointhephrase
tocointhephrase's picture

no because if one goes so do them all

Thu, 12/15/2011 - 15:03 | 1984234 bob_dabolina
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They both look like shit

Thu, 12/15/2011 - 15:02 | 1984235 0ppenheimer
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Thu, 12/15/2011 - 15:03 | 1984238 gjp
gjp's picture

Definitely the UK.  Take away the fraudelent City of London and what's left?  At least the French have some industrial companies and wine and cheese.  What does England export exactly?  I can't believe their current account is in balance.  Must be something fishy there ...

Thu, 12/15/2011 - 15:13 | 1984298 the not so migh...
the not so mighty maximiza's picture


Thu, 12/15/2011 - 15:19 | 1984317 JustObserving
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and Haggis.  Which more than cancels the Scotch. 

"Haggis is a dish containing sheep's 'pluck' (heart, liver and lungs), minced with onion, oatmeal, suet, spices, and salt, mixed with stock, and traditionally simmered in the animal's stomach for approximately three hours"

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