Video Explanation Of How The ESM Is Europe's Uber-TARP On Steroids
Three years ago, Congress balked at the mere thought of giving Hank Paulson's (so lovingly portrayed in Andrew Ross Sorkin's straight to HBO Too Big To Fail) proposed TARP, which came in an "exhaustive" 3 page term sheet with limited bailout powers however with virtually unlimited waivers and supervision, and voted it down leading to one of the biggest market collapses in history. Curiously, a more careful look through Europe's €500 billion (oddly enough almost the same size as America's $700 billion TARP) European Stability Mechanism or ESM, reveals that in preparing the terms and conditions of the ESM, Europe may have laid precisely the same Easter Egg that Paulson did with TARP, but failed. Because at its core, the ESM is like a TARP... on steroids. It is a potentially unlimited liquidity conduit (only contingent on how much cash Germany wants to allocate to it - which in turn means how much cash Germany is willing to let the ECB print), with no supervisory checks and balances embedded, and even worse with no explicit or implicit liability clauses - in essence it is a carte blanche for its owners to do as they see fit without any form of regulation. As the following brief but must watch video explains, the ESM "is an organization that can sue us, but is immune from any forms of prosecution and whose managers enjoy the same immunity; there are no independent reviewers and no existing laws apply; governments can not take action against it? Europe's national budgets in the hands of one single unelected intergovernmental organization? Is that the future of Europe? Is that the new EU? A Europe devoid of sovereign democracies?" Ironically even America's feeble and corrupt Congress stopped a version of TARP that demanded far less from the taxpaying citizens. Yet somehow, Europe has completely let this one slip by. Is it simply to continue the illusion of the insolvent Walfare State for a continent habituated by zombifying socialism, or is Europe by now just too afraid and too tired to say anything against its eurocrat class? One thing is certain: when the people voluntarily give up on democracy, out of sheer laziness or any other reason, the historical outcomes are always all too tragic.
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I say go for it!
I guess Europe wanted a Federal Reserve of their own!
Christmas came early!
European Sieg Heil Mechanism
"...there are no independent reviewers and no existing laws apply..."
The "law" is a tool used to prevent the poor and ignorant from taking back by violence what the rich have stolen through cunning.
They are so jealous of America! Research the Exchange Stabilization Fund (ESF). They even use almost the same acronym - copy cats!:
The Exchange Stabilization Fund and The Gold Reserve Acthttp://www.youtube.com/watch?v=mj_lSydKB8M
Exchange Stabilization Fund (in detail)
http://www.youtube.com/watch?v=2ssrcD5GdPQ
http://www.youtube.com/watch?v=ImuVUab6WW0
http://www.youtube.com/watch?v=8Qsll_5-FXc
http://www.youtube.com/watch?v=iK-741ISz94
http://www.youtube.com/watch?v=lQf-u2nCVSw
I can think of no better fate for European socialists. It's a natural progression. Once their economic socialism experiment failed, the next logical step in the progression is fascist feudalism. The Europeans deserve what they get for being morons and having such low IQ's. They weren't capable of figuring this oligarch capture move out even though history is replete with examples. They should have listened to Alex Jones.
Ron Paul tells you what the problem with Europe is and how to solve it.
Ron Paul's Texas Straight Talk 12/19/11: European Bailout Will Make Crisis Far Worse
http://www.youtube.com/watch?v=jK2B61DAaB8&feature=player_embedded#!
blablabla - so you guys have had TARP and TALP and waste your breath on an up-to-now empty promise?
the video highlights the very problem of this stupid scheme - at the very moment Brussels calls for money the govs involved just show the middle finger...
European Socialists? How do you define "socialist"? By measuring what percentage of the population get a transfer payment from the state?
There are no "Europeans" just as "Americans" could be Brazilians or Chileans rather than Canadians or inhabitants of Massachussetts.........Europe goes beyond the Urals and is a big area with lots of very different people with vastly different history
Except that the US in 1934 copied the British EXchange Equalisation Account created in 1932 which the US forced Britain to discontinue after 1947
Redpill
+1 .. E U Fed with more power . Plus now they can ware socks with sandles on the beach and not feel silly.
Are they hiring?
RON PAUL: BAIL OUT EUROPE? NO THANKS!
http://djia.tv/ron-paul/ron-paul-bail-out-europe-no-thanks/
Check out the man boobs on the human walking pos Barney Frank. This is why ugly women should not be allowed to breed.
http://www.realclearpolitics.com/video/2011/12/19/barney_frank_wears_revealing_shirt_on_house_floor.html#.Tu_aBbThsYs.facebook
Moobs.
Barney has bitch tits. There, helped you out a bit. lol
it says he was wearing a sling due to an operation on his thumb..
I won't go there...
thesheeplethe ?
Time to refresh on the "Protocols of the Learned Elders of Zion" to see what happens next . . .
I like Jesus' words to the Pharisees who hung him on the tree (among many other juicy tidbits): "your father is the devil...say not that you have Abraham as your father...God is able to raise up children of Abraham from these stones...beware the 'traditions of the elders' (washing of hands, Kosher laws, etc.)"
And from the real OT: "the borrower is slave to the lender".
Remember, when the Rabbis mention the "Torah", they have two Torah. One is the normal written OT with which many are familiar. The Rabbis describe this OT as of little value, and it is a fairy tale only rightly interpreted by a Rabbi.
Per the Rabbis: The other Torah, the one the Rabbis update regularly, is the spoken word god gave to Moses, not put to writing till 3C AD when the Rabbis wrote the Talmud. This is what Jesus speaks of as "the traditions of the elders". The noose around the necks of Jews, put there by the Rabbis (such as the religious laws that prevent orthodox Jewish women from driving a car in ultra-liberal NYC). The Talmud identifies Jesus as "Pantera", the name of the Roman guard who fathered Jesus by the prostitute Mary...Jesus now boils in excrement for eternity for embarrasing and taking power from the Rabbis.
The Rabbis are the ones who state they are God's chosen people by DNA birthright. They are above goyim by birthright and nothing else. They trace their DNA back to Abraham. The teaching mentioned in the 1991 US Public Law 102-14, that you are responsible to uphold under punishment of Rabbinical death sentence (coming soon enough).
Tell me how/why this teaching is not laughed off the face of the earth?
I've lived in this area a long time and I've never driven a car in NYC. And I'm not even an orthodox Jewish woman. I do feel bad for those women. Have you seen the mutts they have to sleep with? Those guys, with all of that black clothing on the subways in summertime, must stink something fierce. It could bring tears to your eyes. I do like how the orthodox are so able to freely discriminate. That cracks me up. I've been on the receiving end of their bigotry.
reminds me of this:
http://www.youtube.com/watch?v=4TAtRCJIqnk
Not funny . . .
Who junked you without reply?!! Obviously, not everyone remembers that even Abraham (father to both Jews & Muslims) had a master/mentor, Melchizedek . . .
Interesting for sure, but WAY off topic.
or an attempt to get ON topic?
Where are the UK-bashers today?
This is exactly what Nigel Farage has been saying forever. For instance:
http://www.youtube.com/watch?v=bOgtEBhV4DE
What Nigel Farage conveniently forgets to mention is that the UK has the highest debt load of anyone. The French however are starting to point towards that direction.
The UK is in a glass house and slinging boulders at everyone else..
Not really. Most of the UK "Financial Debt" is in the form of derivatives, which actually goes back to th US. And, actually, I don't see the UK throwing many boulders, which actually seem to be getting thown from France, with the support of Germany of course.
The ESM is a mechanism for authoratarian rule.
If the ESM body (technocrat) doesn't like a particular person, or party in a EZ, they can demand financial reforms, or budgets which could delay a solution, and end the chances of the party, or leader, from a down economy.
Could you imagine, if a unelected body, decided that the a US stimulus program was invalid, vetoed it, and that caused a president, Congress, to lose his/her/it relection, from a down economy?
Power is being concentrated to a very small elite group. Giving them the ability to select the core personnel. That is how Stalin rose to power.
ESM technocrat = EU politburo
Apparently the Eurozone countries (or at least the bankers & politicians that run them) are so desperate that they'll agree to any abomination if it gets the ECB to PRINT. PRINT EUROS AND BUY OUR SHITBONDS!
Why on Earth would they agree to let Germany run their finances? Why would they support crawling to the IMF for funds? The IMF?!? That's for starving African nations, right?
Bottom line, the ECB cannot legally buy sovereign shitbonds directly and they don't want to anyway. The dolts running the indebted Euro periphery think that if they agree to a conduit approach (ESM, EFSF, IMF, World Bank, whoever) that they will be saved via ECB printing. Traitorous idiots.
And why Plato places the USA's republican form of democracy one mere step above fascism.
Plato also outlawed all private forms of religious worship or expression, under penalty of death.
there are but two power's in the world today, such that only known foolish whisperer's dare sort their being's aloud,..."ESM's & Dystopiamokcrazy's" which unbeknownst prostrate too,... the almighty "FRB & BIS" - ironically, and as fate would have it, they're a symbiotic anomaly lacking the fundamental, sine`qua`non,...
A Europe devoid of sovereign democracies?
Yeah, that's what its all about. A stepping stone to a planet devoid of sovereign democracies. It's called one world government (aka new world order).
The Congress of Vienna (I mean Brussels) is trying to reestablish the legitimacy of the monarchies (financial oligarchies).
Metternich, Kissinger's model!
Then Kissinger failed to emulate his model. Europe has no Metternich to thwart this uprising for 40 years.
Everyone wishing to sign on, cue up here. No, over here please! Where are you going? Isn't anyone going to sign up?
PHYZZZ!
Not yet. I would wait for silver to hit $25-20 (mid 2012?) before getting in again. From that point on, I don't think you will ever find silver bellow $40. Ever. Then again market timing is a bit of a gamble.
There will be timers and timers. My timing was right, I've got the PHYZZZZ..
Your risk tolerance is much higher than mine. I'm buying all I can afford at current prices, which are dirt cheap IMO . . .
how does one get to be such a sick fuck that they can even think up such monstrous fucking ideas as these? I just can't comprehend the level of evil that it takes to be behind this bullshit. That is why evil so frequently wins. We just can't believe that such evil fucks exist therefore we can't fight them.
I'm just wondering where they find the energy. It's 3:30, and I'm still in my pajamas.
I have always laughed about the thought of pot smokers. They are portrayed as being dangerous because they are often unmotivated and lazy. Shit, it seems to me that it is the motivated Type-A fucks that are destroying the world. We should force these little Poison Ivy League stooges to smoke 10 one-hitters a day until that destructive motivation streak is knocked out of them.
Oh, I don't smoke pot. I just have mild anemia, so I never have energy. It makes me fascinated by these guys who are naturally juiced and just intent on world domination. Just watching them makes me want to nap.
Anyway, they will win and we will lose, but we'll kick their faces in if it gets real bad, and we'll only bone like 15% fewer women (assuming we're all average looking and semi-funny). It seems like a lot of misguided effort on their part if Darwinism is the end goal. I can only assume these guys are all really ugly with small dicks.
jimmy cayne smoked pot
the really, really good shit, I bet
I think bob marley had the odd blunt
To respond to WestVillage Idiot:
Following the example set by Congress in voting to allow the military to detain US citizens on US soil indefinitely and without judicial reveiw?
patience, young one, whenever such filth cry out to the greater cosmos: "I am the most evil fucker ever" they are invariably attracting an even more evil one to bone them in their blind spot.
/blessed angel of dark and light/
You must be WAY over my head . . .
Bullish for gold.
Long-term most likely. But in the meantime they are still bringing down the paper. Just look at silver today. It is getting the Jodie Foster on a pinball machine treatment.
Keep your powder dry for the physical, boys. Don't fire until you see the whites of their pockets.
I'm amazed people want dollars. I bought pretty high (1700), so I am feeling massive pain right now. I actually listed some of my stash for sale over the weekend, but after doing so I was like "WTF, I don't want dollars"...
I think I'd rather just get crushed in metals and buy more/average it out if I have to than hold dollars. I really did panic last week with that drop, and I feel like it hasn't bottomed yet, so there's probably more pain coming. Luckily I went 75% gold/25% silver so I'm not feeling as much pain as those who purchased silver recently.
That last sell off was bizarre. It was almost a preemptive liquidation for an anticipated market collapse. Maybe people booking year end gains and such, but very strange. If the stock market collapses, like it should, then more pain. Hate how gold is trading like a risk asset. Really want to see decoupling from stocks and paper--until then gold is those assets derivative and will behave like them. Sucks balls.
Nobody should view one gold or silver purchase as their only purchase. Protecting yourself is a lon-term goal. Therefore it should come with a long-term plan. I bought silver at close to $40 per ounce. I also bought it at $11 per ounce. I will buy again. Gold and silver should be part of your savings plan, not part of your investment plan.
Good luck. Just remember, rust never sleeps.
Well put.
I'll just wait to buy life insurance next week when the price goes down. It's not like im going to die tomorrow. /sarc
This world is one news story away from collapse. Trade paper for phyzz and forget about the numbers. Check the numbers in two years after they get the internet running again. lol
That's why I bought. I don't regret buying; I regret knowing I could have owned more OZs for those dollars.
The only reason I thought of selling was that I could repurchase more OZs if it dropped to 1200 range. But fuck being a weak hand. I will just ride it out.
http://maxkeiser.com/2011/12/19/really-interesting-video-on-scrap-gold/
Really interesting video on ‘scrap gold’
Posted on December 19, 2011 by maxkeiser
Hell, we're talking Xmas Eve Fannie Freddie bailout unlimitedness redux....nobody got jailed or hung in USSA.....ESM a go !
You got that all wrong. There was nothing wrong with the Fannie and Freddie bail job because little Timmy Geithner (the angel of financial death) told us that it would never cost the taxpayer a single penny. And it hasn't. Oh, wait. That's right. What are we at now, $160 billion and counting?
Hey, Obama, how does that fucking Geithner guy still have a job? All I want for Christmas is Timmy's two front teeth.
I think it's funny that the people that call me a doomer are the same people who say the world would have ended if we hadn't bailed out the banks et al.
hank and neel would be proud
A Europe devoid of sovereign democracies? What about the sovereign power of the Fed in handing out $29.6 trillion in 2008 and refusing to tell Congress.
The fiat Ponzi scheme has a lot to hide whether here or in Europe.
700 billion Euros will not be enough though.
Europe better crank up those printing presses. Bernanke will help too.
Next thing you know Obama will be trying to sign up the USA.
Anything that will hurt this country is good for Obama. Come on, everybody knows the guy hates the fucking USA and all its people. Can we really have any doubt left on this one?
I don't think he hates it any more than the last guy. Or any more than me, for that matter.
this is treason! to have even proposed such a scheme...if this is true. We must ALL act on this.
There is such a thing as a European PArliament, they CANNOT bypass it.
Actually, there's no practice they (MEPs) could REJECT it. Only the national governments can.
National sovereignty bitchez.
Old Europe's "elite" know nothing else than tyranny and despotism.
Hell, look at who they've come up with. Hitler, Marx, Engels. Napoleon. Even Pol Pot was educated in France. Then look what happened with what old Europe's leaders did to millions in their now former colonies like Algeria, The Congo, Rwanda. The list is endless and mind numbing....
Welcome to the EU "project", fellas.
About damn time we here in the New World started paying a hell of a lot more attention to what's going down in euroland...
Don,t you realise that you are the real problem. Please just stay home for the next century!
The irony of your name and your post is too much...
Also, if you live in any "western" state, you are throwing rocks from a glass house.
The looting till continue so long as there is loot.
Or until moral improves.
good one.
first, i thought that you spelled morale incorrectly and then i realized it is correct to say moral.
the morals desperately need to improve.
So the ESM writes our current treatment of bankers into law. Great. Just great. Cue riot cam.
I hope Lasagna shows up on your cam show he's my favorite riot dog.
it doesn't matter what they want . just like here. their leaders read it and know about it but signed it anyway.......just like they have done here. if one deals with idiots then it is easy to not respect idiots.......because idiots are idiots...........
ESM = European Seizure Mafia
Enjoy Sado-Masochism
Each member country appoints its own governor and vice governor.
They rule by majority vote and some with 2/3th majority.
http://consilium.europa.eu/media/1216793/esm%20treaty%20en.pdf
The appointment of govenors & vice govenors being operative here...unelected.
I would assume there is a way for a majority of this "grand council" to remove a recalcitrant govenor (without digging through the pdf) as well.
And we are left with the same old...who will watch the watchers.
yep, treaties have been and always will be a way for the establishment to make an end run around the rule of law and the republic.
Village Idiot said....
how does one get to be such a sick fuck that they can even think up such monstrous fucking ideas as these? I just can't comprehend the level of evil that it takes to be behind this bullshit. That is why evil so frequently wins. We just can't believe that such evil fucks exist therefore we can't fight them.
V.I. hang on to your hat.
For those that have read this already, my apologies.
But I have found the most HOLY SHIT artcle I have ever read since waking up from the Matrix in 2008. Granted it's conjecture on the part of the writer but it makes PERFECT sense. If even close to true then it truly is the roadmap to serfdom by the banks. Not one sovereign nation is safe....not one.
In the wake of MF Global, this article makes perfect sense.
This is not spam....please take the time to read it. It is in depth, it will take a while but.....Holy God in Heaven.....if this guy is correct......
http://www.golemxiv.co.uk/2011/12/plan-b-how-to-loot-nations-and-their-b...
Thanks for the link. I recommend it to all and look forward to some ZH comments on it.
May be on to something here...
So when a bank goes bankrupt, BEFORE even the most senior bond holders, the repo lenders and derivatives traders can remove, or keep all the assets pledged to them.