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Watch David Cameron Explain To UK Parliament Why He Broke Away From The Eurozone Group Of 27

Tyler Durden's picture





 

Last week's biggest political shock was David Cameron telling Europe to shove its authoritarian ambitions and breaking away from the Group of 27, in effect killing any chance of a favorable summit outcome. Watch him live now as he explains why he did what he did.

Headline summary from Bloomberg:

  • CAMERON SAYS HE HAS PROTECTED BRITAIN'S NATIONAL INTEREST
  • CAMERON SAYS SATISFACTORY SAFEGUARDS WEREN'T FORTHCOMING
  • CAMERON SAYS HE SOUGHT MODEST, REASONABLE SAFEGUARDS
  • CAMERON SAYS U.K. SOUGHT LEVEL PLAYING FIELD FOR FINANCE SECTOR
  • CAMERON SAYS U.K. WANTED TO GO FURTHER ON BANK REGULATION
  • CAMERON SAYS TREATY CHANGE WOULD HAVE CHANGED NATURE OF EU
  • CAMERON SAYS CHOICE WAS TREATY WITHOUT SAFEGUARDS OR NO TREATY
 


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Mon, 12/12/2011 - 11:37 | Link to Comment GeneMarchbanks
GeneMarchbanks's picture

Because HSBC told him to?

Mon, 12/12/2011 - 11:40 | Link to Comment Momauguin Joe
Momauguin Joe's picture

N.M. Rothschild of London told him to.

Mon, 12/12/2011 - 11:44 | Link to Comment AngryGerman
AngryGerman's picture

no, timmmaaahhhhhh was hiding up his ass and telling him what to do

Mon, 12/12/2011 - 11:47 | Link to Comment Harlequin001
Harlequin001's picture

So you think it in the US's interest for the Euro to fail then?

You think US banks have a rats arse chance of survival if European banks go under? Please...

Mon, 12/12/2011 - 11:54 | Link to Comment william shatner
william shatner's picture

Off course it's in the interest for the US that the euro fails, it's the only competitor to the US dollar as the reserve currency. They don't care about the banks, it's all about keeping the dollar as the reserve currency.

Mon, 12/12/2011 - 12:09 | Link to Comment Ahmeexnal
Ahmeexnal's picture

What is Nigel Farage saying about this?

David CommieRon is a disgrace.

Mon, 12/12/2011 - 12:35 | Link to Comment TheFourthStooge-ing
TheFourthStooge-ing's picture

What The City wants, The City gets.

 

Mon, 12/12/2011 - 12:42 | Link to Comment Deo vindice
Deo vindice's picture

I would think that Nigel's increasing popularity in Britain has to play into this situation at least a bit.

Mon, 12/12/2011 - 12:10 | Link to Comment kridkrid
kridkrid's picture

Go ahead. It's got to be somewhere.

Tic-tac-toe.

You're in. Order it to disarm the missiles.

No! No.

Five numbers. It's got half the code.

One.

- Put X in the centre square.|- I know.

- Six up.|- There's no way you can win.

I know that. It doesn't. It hasn't learned.

- Is there any way to make it play itself?|- Yes. Number of players zero.

Mon, 12/12/2011 - 12:16 | Link to Comment distopiandreamboy
distopiandreamboy's picture

It seems the only way to win is to not play the game. But in this world the game plays on.

Mon, 12/12/2011 - 12:31 | Link to Comment kridkrid
kridkrid's picture

Yeah... not a perfect analogy. The "can't win" part is right, but the ship sailed on not playing long ago.  Currency wars lead to trade wars lead to war wars.... and here we go... http://www.youtube.com/watch?v=xSLlZh9yelk

Mon, 12/12/2011 - 15:05 | Link to Comment stirners_ghost
stirners_ghost's picture

"Just imagine how much more could be printed into all that fresh demand", TheBernank thought to himself, his vagina fully engorged.

 

Mon, 12/12/2011 - 11:59 | Link to Comment fajensen
fajensen's picture

The EUR would fail instantly if London was not around to enable off-the-books investments, unsupervised lending, infinite leverage and plain money-laundering! Keeping the UK out of any deal preserves the status quo in which trillions have alredy been wasted.

It is the desired outcome: The fascists can confiscate defraud and tax, then launder their money via London, while whining about the obstinacy of the British.

Mon, 12/12/2011 - 12:04 | Link to Comment Jay Gould Esq.
Jay Gould Esq.'s picture

Swing that purse, David !

Mon, 12/12/2011 - 13:03 | Link to Comment eureka
eureka's picture

Fajensen - Your view is too simplistic. EU is not ruled by fascists. There are many opposing forces in EU, each fighting for its agenda. This is only to be expected. HOWEVER: There is one enemy of all nations and peoples - and that is the hyper rich who use banks for their war on all real assets, whether private or sovereign - and consequently hedgefunds and banks must be regulated, chopped up and exempt from any more bailouts whatsoever - i.e. all the things London doesn't want - but which a majority of forces in EU do want.

Cameron works for London and its crony capitalist cabal. If one is for crony capitalism one can agree with Cameron - otherwise not.

That - is the truth - if you can handle it..

Mon, 12/12/2011 - 11:46 | Link to Comment GeneMarchbanks
GeneMarchbanks's picture

You must bomb your liver with a liter of absimf' if the word "REHYPOTHECATION" is uttered...

Mon, 12/12/2011 - 11:56 | Link to Comment spanish inquisition
spanish inquisition's picture

If he agrees, then the unregulated London Financial District comes under EU control and needs to follow EU rules.

Mon, 12/12/2011 - 12:00 | Link to Comment GeneMarchbanks
GeneMarchbanks's picture

I'm aware of all this. The 'looting spree' in London this summer was a fine example of microcosm/macrocosm. Self similarity, if you will...

Loot on you thieving fuckshites! Loot on...

Mon, 12/12/2011 - 13:02 | Link to Comment Ghordius
Ghordius's picture

today's best is Tyler's own provocative intro "telling Europe to shove its authoritarian ambitions"!!! LOL

ah, banking regulations are so fascist a priori

Mon, 12/12/2011 - 13:09 | Link to Comment eureka
eureka's picture

Well, in this matter Tyler clearly does not see the full picture - if his simplistic sentiment against central controls were to be distributed evenly, he would have to equally "forcefully" advocate the immediate revocation of scores of US Federal Government controls over separate US states.

Let's hear it Tyler... - is that your position?

Or is it only the EU which is not allowed to have central powers?

I hardly think that is your porition, Tyler - is it now?

Mon, 12/12/2011 - 15:41 | Link to Comment Cugel
Cugel's picture

I'm pretty sure that would be Tyler's position. Have you missed all the Ron Paul love? The solution to too big to fail is failure, not more central planning.

Mon, 12/12/2011 - 13:13 | Link to Comment Ahmeexnal
Ahmeexnal's picture

Why should people have to pay taxes to a German empire operating out of Brussels?

Oh, right, so the Germans can keep partying like it's 1936.

The much touted friday eurozone agreement is a farse.

The 27 fools who "agreed" will hit a concrete wall in their countries called CONSTITUTION.

Mon, 12/12/2011 - 11:49 | Link to Comment HedgeAccordingly
HedgeAccordingly's picture

S&P's nice and weak this morning... http://hedge.ly/tm7X6t 

Mon, 12/12/2011 - 11:51 | Link to Comment slaughterer
slaughterer's picture

It is not even 11:00am and I am already attempting to guess today's 3:00pm rumor.  

Mon, 12/12/2011 - 12:01 | Link to Comment gojam
gojam's picture

Try, Where's Clegg !? UK Coalition gov about to fall. (it won't but just watch)

Mon, 12/12/2011 - 11:52 | Link to Comment Azannoth
Azannoth's picture

I think we can agree that he did the right thing for all the wrongs reasons

Mon, 12/12/2011 - 11:54 | Link to Comment slaughterer
slaughterer's picture

Agreed.

Mon, 12/12/2011 - 11:56 | Link to Comment whatsinaname
whatsinaname's picture

'cos they would have to rein in their debt (NOT) !!

And QE3 launch would be delayed ?

Mon, 12/12/2011 - 12:45 | Link to Comment Dr. No
Dr. No's picture

Its because the City of London Corporation told him so.  TCLC has given banks a soverign status which the EU would like to take away.

 

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

Mon, 12/12/2011 - 11:37 | Link to Comment theMAXILOPEZpsycho
theMAXILOPEZpsycho's picture

Hail Cameron the brave! Finally showing some of that Churchill style Bulldog spirit!

Mon, 12/12/2011 - 11:38 | Link to Comment pufferfish
pufferfish's picture

His protectionism of the cabal isn't even vailed. 

Even Thatcher didn't pull right out.

Oh dear.

Mon, 12/12/2011 - 11:43 | Link to Comment agent default
agent default's picture

Yeah, because the rest of Europe is really giving the banksters hell.\sarc

Mon, 12/12/2011 - 13:18 | Link to Comment eureka
eureka's picture

unfortunately not - mostly because of the French, who here are aligned with theUS Fed/US Empire print & montize "strategy" - whereas Merkel/Germany actually wanted even German banks to take haircuts.

Ironic, isn't it, that the by US so often ridicules French, are so in step with US bailout & pretend agenda?

Whereae the Germans, who's banks got solidly rigged by the GS Squid and US in general, is against bailouts, but bent to the French!

Nuances, Gentlemen. Nuances, which count. US loves Frenchie - today... for the moment...

Mon, 12/12/2011 - 14:25 | Link to Comment agent default
agent default's picture

If they give the banks haircuts, then the banks will go to them and ask for a bailout, or something horrible will happen.  What will they do then, turn around and say, the horrible thing will happen to you, now fuck off and die, or just get the taxpayer to bail them out?  Take a guess.  The Germans are full of shit.

Mon, 12/12/2011 - 14:53 | Link to Comment Ahmeexnal
Ahmeexnal's picture

Swinegela Merdekel is already salivating at the tought of panzerdivisions crossing into Switzerland and stealing all that gold beneath Zürichsee.  What she does not count on is Swiss superior military.

Always has been. German Landsknechts were a cheap ripoff imitating Swiss pikers.

Mon, 12/12/2011 - 15:40 | Link to Comment agent default
agent default's picture

The Swiss do not approve of invading Switzerland.  The place is rigged from top to bottom, every bridge, road, building everything in Switzerland is mined. 

BTW in Switzerland never, EVER even imply that the German speaking Swiss are Germans, or even close to the Germans.  Especially if he happens to be a German speaking Swiss.  Things can get violent.

Mon, 12/12/2011 - 11:38 | Link to Comment pragmatic hobo
pragmatic hobo's picture

Would Cameron do what he did without prior approval of the US?

Mon, 12/12/2011 - 11:44 | Link to Comment Harlequin001
Harlequin001's picture

Since when did the Uk ever give a fuck about the US?

The US is busily looking after the UK's interests in Europe because it has been told to.

Who do you think runs American banks? America? Wake up...

Mon, 12/12/2011 - 11:39 | Link to Comment the 300000000th...
the 300000000th percent's picture

Bullish

Mon, 12/12/2011 - 11:40 | Link to Comment IslandMan
IslandMan's picture

Why can't you 'Mercans get it right ?

It's the Eurozone of 17.  17 in, 10 not in.  There, it's not that difficult, is it ?

Mon, 12/12/2011 - 17:04 | Link to Comment DosZap
DosZap's picture

IslandMan

Well, when it's all said and done, there will be ONLY 10.

Then, grab your ankles and kiss your ass goodbye.

Mon, 12/12/2011 - 11:40 | Link to Comment transaccountin
transaccountin's picture

It's all about the printing press. England did not accept the treaty simply because its printing press would have been unplugged and its fiat creation handicapped.

Mon, 12/12/2011 - 11:41 | Link to Comment theMAXILOPEZpsycho
theMAXILOPEZpsycho's picture

I think you nailed it

Mon, 12/12/2011 - 11:45 | Link to Comment AngryGerman
AngryGerman's picture

precisely. uk banking sector would not survived it.

Mon, 12/12/2011 - 11:48 | Link to Comment Harlequin001
Harlequin001's picture

Not a country on the planet would have...

Mon, 12/12/2011 - 11:50 | Link to Comment theMAXILOPEZpsycho
theMAXILOPEZpsycho's picture

yeh, still even if he made the right decision for the wrong reasons, any no to the eurocrates is a good thing

Mon, 12/12/2011 - 11:44 | Link to Comment LeBalance
LeBalance's picture

Peace in Our Time.

Mon, 12/12/2011 - 12:07 | Link to Comment DOT
DOT's picture

POT ?

Mon, 12/12/2011 - 12:38 | Link to Comment GMadScientist
GMadScientist's picture

Pieces in Our Time

Mon, 12/12/2011 - 11:45 | Link to Comment CrashisOptimistic
CrashisOptimistic's picture

This is not rocket science.  London Stock Exchange trading was going to get hit with a transaction tax, the proceeds of which were to go to Brussels.  How could any UK prime minister tolerate that?

Mon, 12/12/2011 - 12:36 | Link to Comment Fukushima Sam
Fukushima Sam's picture

Fuck Brussels.

Mon, 12/12/2011 - 11:48 | Link to Comment Irish66
Irish66's picture

this great tv

Mon, 12/12/2011 - 11:50 | Link to Comment junkyardjack
junkyardjack's picture

Its like watching shakespeare, I can't even believe they really operate like this.  This is like watching MTV's Yo Momma

Mon, 12/12/2011 - 11:49 | Link to Comment Davalicious
Davalicious's picture

Cameron is all for the Kleptocracy. He couldn't agree to jump into a federal Europe without safeguards for his masters. On top of that, the cock sucker is a survivor. He would have been fired from the Tory party if he had taken this step.

Don't get Cameron wrong. He is a Federalist, not a democrat. He just wants to make sure that his backers are satisfied with the deal, before he gives away souvereignty. 

Mon, 12/12/2011 - 11:51 | Link to Comment Negro Primero
Negro Primero's picture

...bunga-bunga the english way

Mon, 12/12/2011 - 11:52 | Link to Comment Dr. Engali
Dr. Engali's picture

It's funny how you have cat calls and interruptions. If they do that here they are treated like they are a boil on the hind end of politics. Our politicians need to get the broomstick out of their asses.

Mon, 12/12/2011 - 11:53 | Link to Comment Abitdodgie
Abitdodgie's picture

Could you go to a bisiness meeting and behave like a british MP you would get fired , will somebody hack a drone and take out westminster.

Mon, 12/12/2011 - 11:53 | Link to Comment PaperBear
PaperBear's picture

As a Brit I want Europe to return to a single economic market and ditch all the junk that has come later.

Mon, 12/12/2011 - 11:54 | Link to Comment PaperBear
PaperBear's picture

The people of other European nations must elect governments that obey the people's instruction to return to a single economic market and ditch all the junk that has come later.

Mon, 12/12/2011 - 12:41 | Link to Comment i-dog
i-dog's picture

... yet they will just keep bashing away -- like a 2-yr-old -- at trying to fit the square peg into a round hole.

"Little more than a year ago, it was largely thought Utopian to bring together socialists, liberals and conservatives, religious believers and free-thinkers, big employers, bankers, financiers, economists and trade union leaders, parliamentarians and scholars, military people and artists, under one common denominator, that is to say to bring all those divergent individuals together on a programme of common interest. Today this Utopian ideal has become a fact." ... Pieter Kerstans, Dutch chairman of the Congress of Europe, May 7th, 1949.

That quote was when there were only 10 states in the EU. Now there are 27 and counting.

Do the people of individual cultures REALLY want their leaders to force-fit them into a single common denominator? With decisions arbitrarily imposed by faceless technocrats located thousands of miles away?

It's not what the people want ... it's what a select group wants, in order to centralise control over the greatest number of people. It's called imperialism.

Mon, 12/12/2011 - 15:05 | Link to Comment bombimbom
bombimbom's picture

and many of you keep failing to see that the reason why there are "faceless technocrats" is because there is no political union yet. and there is no political union because the state members are reluctant to cede that much sovereignity.
Now it's the sovereign state members that by negotiations and agreements appoint people and choose directions. that is because of what I said above not because of the supposed ineherently undemocratic nature of the EU.

the funny thing is that many of you complain about the lack of democratic governance while, at the same time, being strongly against the radical steps ahead in the integration that would permit to solve that problem, ie the political union. 

I hope it won't take a lot of time to reach a political union, with a european government resulting from the majority in the elected european parliament, so people would stop foolishly complaining about the "technocrats".

Mon, 12/12/2011 - 14:15 | Link to Comment Zero Debt
Zero Debt's picture

Long stone and bone futures

Mon, 12/12/2011 - 11:53 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

A rowdy bunch the brits are

Mon, 12/12/2011 - 11:59 | Link to Comment junkyardjack
junkyardjack's picture

If US politics were like this, Chris Rock would be President

Mon, 12/12/2011 - 12:19 | Link to Comment GoodMorningMr.V...
GoodMorningMr.VanRumpoy...'s picture

IF US Politics were like this, people might actually watch C-SPAN

Mon, 12/12/2011 - 11:53 | Link to Comment SirPlayomic
SirPlayomic's picture

The sooner Scotland can extricate itself from the sinking UK the better. I just hope they've the sense to follow Norway's lead and keep the EU at arms length. Would be insane to get your sovereignty back after 300 years only to give it away again.

www.greedion.com

Mon, 12/12/2011 - 11:59 | Link to Comment theMAXILOPEZpsycho
theMAXILOPEZpsycho's picture

Scotland will be like any other pigs nation without england - london in particular...

You have huge unemployment, huge numbers of benefits claiments, probably the least healthy population in the western world, huge illiteracy rates...and you get huge tax subsidies from london...the only reason to leave is pure nationalism, you're the winners out of the deal

Mon, 12/12/2011 - 12:36 | Link to Comment SirPlayomic
SirPlayomic's picture

Ah, the "you're too poor, too stupid and too wee" argument a la Daily Mail. That argument failed miserably in the recent Scottish election. Perhaps you heard about that?

If what you are saying is true, then why is Westminster fighting so hard to retain Scotland? Here are some no doubt uncomfortable facts for you: Scotland pays more than it gets back (official and once secret westminster figures prove this), Scotland has lower unemployment than England, lower benefit claiments, a highly educated population (many English choose Scottish universities). The reason to leave the Union is not nationalism, it's about getting independence from and our sovereignty back from the banker controlled cesspit that is Westminister. Don't take it personally (unless your one of the banking scum, it that case you better take it very personally).

Look at it this way. If 300 years of "Union" with England has brought Scotland what you claim, ie:

"You have huge unemployment, huge numbers of benefits claiments, probably the least healthy population in the western world, huge illiteracy rates...

Then why on earth would any Scotsman want to continue with this clearly abusive relationship?

www.greedion.com

Mon, 12/12/2011 - 12:38 | Link to Comment BandGap
BandGap's picture

My grandfather was from Scotland - from the border Clan Kerr.  No love for the English going back centuries.

Mon, 12/12/2011 - 12:42 | Link to Comment SirPlayomic
SirPlayomic's picture

There's certainly a lot of history between the two nations, but for me personally, I don't have a problem with the English as they really aren't the problem. Their banker puppet government however, this I have a problem with.

www.greedion.com

Mon, 12/12/2011 - 11:54 | Link to Comment bob_dabolina
bob_dabolina's picture

They sound like a bunch of cackling birds and sick cats having sex

Mon, 12/12/2011 - 11:59 | Link to Comment Cone of Uncertainty
Cone of Uncertainty's picture

What the Bank of England wants, the Bank of England gets.

Mon, 12/12/2011 - 12:47 | Link to Comment TheFourthStooge-ing
TheFourthStooge-ing's picture

+1

Bingo.

 

Mon, 12/12/2011 - 12:00 | Link to Comment xela2200
xela2200's picture

Good old fashion British pride. It helped them conquer the world, and then it help them to loose it.

Mon, 12/12/2011 - 12:02 | Link to Comment BlackVoid
BlackVoid's picture

The UK is just a Trojan Horse of the US in the EU.

The EU troubles are a useful distraction for now.

Mon, 12/12/2011 - 12:03 | Link to Comment BlackVoid
BlackVoid's picture

UK should have never been allowed into the EU. DeGaulle was right about this. What he feared came to pass (not just now).

Mon, 12/12/2011 - 12:32 | Link to Comment hollowbody
hollowbody's picture

LMAO at that. You are talking about the same deGaulle who after deserting from his army in France and running away, sought refuge in London? The same deGaulle that Churchill recognised as leader of the free French whilst Roosevelt and the US backed Vichy (the Nazis puppets)?

And so it goes on. No-one in the Eurozone has stood up to what the Germans have been doing with the Euro - and laughable now that they are regarded as the powerhouse of Europe when it has been built on the manipulation of the Euro for their ends.

The irony of all of this is that the one country throughout the entirety of the EU where a government would be able to achieve the level of austerity that the new Brussell's treaty demands is the UK, currently suffering a level of cuts which may well be necessary (though not sufficient) that would have politicians in most of Europe hanging from the street lamps....

Mon, 12/12/2011 - 12:03 | Link to Comment King Dong
King Dong's picture

David Camelface is a dick doing what he is told by the city of london

Mon, 12/12/2011 - 12:48 | Link to Comment TheFourthStooge-ing
TheFourthStooge-ing's picture

If you watch carefully, you can see the puppet strings.

 

Mon, 12/12/2011 - 12:04 | Link to Comment slaughterer
slaughterer's picture

Where is Million Dollar Bonus?  He should write something about Cameron here

Mon, 12/12/2011 - 12:04 | Link to Comment Meremortal
Meremortal's picture

Britain chooses to remain sovereign, and some are surprised? Meanwhile, southern Europe fawns like an abused dog at the feet of the technocrats.

Mon, 12/12/2011 - 12:31 | Link to Comment eurogold
eurogold's picture

Without the banking sector, Britain would be a third world country! Let's speed up the process and throw them out of the EU!

Mon, 12/12/2011 - 12:49 | Link to Comment TheFourthStooge-ing
TheFourthStooge-ing's picture

Only as sovereign as the City of London allows Britain to be.

 

Mon, 12/12/2011 - 14:23 | Link to Comment Zero Debt
Zero Debt's picture

Yep. Operation Sea Lion II = Epic Fail.

Watch the UK printing press overtake the ECB with shock and awe QE.

No printing press = no sovereignty.

Mon, 12/12/2011 - 12:06 | Link to Comment RickyBobby
RickyBobby's picture

That was hilarious. The wheels are officially coming off.

Mon, 12/12/2011 - 12:08 | Link to Comment Mark123
Mark123's picture

It's hard to see in this picture, but you can just make out the puppet strings moving Cameron....

Mon, 12/12/2011 - 12:50 | Link to Comment TheFourthStooge-ing
TheFourthStooge-ing's picture

You saw them too? It's almost like they're not even trying to hide them anymore.

 

Mon, 12/12/2011 - 12:09 | Link to Comment JR
JR's picture

To ascribe David Cameron’s action as furthering the interest of Rothschild is incorrect. The Rothschilds, from their inception, have wanted a world government that they can control. A breakup of the euro zone is a huge setback for the internationalists. If the Rothschilds are not internationalists, then what are they?

Somebody is trying to fool somebody here, trying to turn the tables. But they can’t fool me.

Cameron may want what the Rothschilds want, I don’t know,  but he also has the British people to satisfy. I heard his speech. In essence he said: This is a fine setup where we’re all going to get together to agree, but I can’t do that; I can’t take this to my parliament and ask them to ok this because it’s not in Britain’s interests.

And it isn’t. The Brits don’t need this.

I contend that a European Union cum euro zone established in spite of the sovereign will of the people of Europe, handed over to Goldman Sachs centralized control, is treason.

It destroys representative government, liberty and prosperity. It punishes patriotism.

“A just law deserves our obedience. But if a law bring fear and slavery, then it is an evil law, upheld by evil men…” Cicero

Look about you and the world, we are the victims of the “lenders of last resort”; they exist at our extreme peril.

Mon, 12/12/2011 - 12:26 | Link to Comment spekulatn
spekulatn's picture

"I would like to thank the internet for that."

 

http://www.thedailybell.com/3336/Anthony-Wile-500-Year-Old-Global-Roll-U...

Mon, 12/12/2011 - 12:47 | Link to Comment JR
JR's picture

Thanks! spekulatn. Anthony Wile’s capped it: “It begs common sense to maintain that this was built up so painfully and with such determined malevolence with the idea of its destruction in mind. No, the preferred plan, as is obvious and evident, is to build up ‘unions’ of countries around the world – and then to build global governance on top of it.

“There can be NO doubt of this. There are now 'unions' – and planned currency unions – around the world.” Says Wile:

And another one gone, and another one gone ... Another one bites the dust ? Queen

Is it possible that the biggest roll-up in history is foundering?

What roll-up? Well ... roll-up, of course, is a money-industry term of art. It means that someone ? an enterprising banker backed by big money ? begins to buy up mom and pop shops to turn them into one large industry with "economies of scale" and an intrinsic value that is larger than its individual moving parts.

In this case, the roll-up that is taking place is of nation-states.

The bankroll comes from central banks...

But if such a roll-up is taking place, it just hit a snag. The Anglosphere power elite that is trying to create worldwide government seems to have suffered yet another setback with the withdrawal of Britain and three other countries from upcoming treaties designed to make the EU even more of a massive nation-state.

Ironically, Britain (home of the City of London's mile-square nexus of elite, global domination) has led the way. Apparently, there is simply too much resistance among the population and even the political class to overcome. I would like to thank the Internet for that. Perhaps people for the first time in a long time are waking up and realizing what is being done TO them in THEIR name. ...

Mon, 12/12/2011 - 15:39 | Link to Comment Iwanttoknow
Iwanttoknow's picture

Sir,you make a valid point.

Mon, 12/12/2011 - 12:12 | Link to Comment Spastica Rex
Spastica Rex's picture

The City is eating itself.

Mon, 12/12/2011 - 12:12 | Link to Comment Lord Peter Pipsqueak
Lord Peter Pipsqueak's picture

Cameron is nothing other than a banking tool.The way the UK press are reporting this it is as if he has just gone and negotiated a victory for the UK.

All he has done is witheld support for the new "fix" on the grounds that it is not in the interests of the UK finance sector ie The City.Nothing else was mentioned,so presumably if they didn't want to impose a financial transaction tax,he would have gladly sold the country down the river to Germanic serfdom just like the other leaders fell over themselves to do.In other words,his sole interest was that of the City of London,all other matters relating to the UK and its membership were irrelevant.

Now the press are warning of a backlash against the UK,and another attempt to impose taxes on the City regardless,so we'll see in time what a massive victory Cameron has actually won.

There's a very simple way for Cameron to avoid the tax on the city and the net contributions the UK has to make every year,and that is to completely withdraw from the EU.In recent polls, 75% of the UK population wanted to leave the EU,but that is precisely why they will never be given that vote.

Mon, 12/12/2011 - 12:28 | Link to Comment eurogold
eurogold's picture

Sorry.....everyone wants the benefits of membership, just like everyone now wants to leave the party. It doesn't work that way.

How about the British shut the hell up.....just one time.........or leave! Continental Europe doesn't need the U.K. All the U.K. has is banking (40% of GDP) so let the British go to hell!

Mon, 12/12/2011 - 15:02 | Link to Comment Sandmann
Sandmann's picture

Continental Europe doesn't need the U.K

SECOND LARGEST NET CONTRIBUTOR AFTER GERMANY = UK  so Germany will have much bigger Bills to pay without the UK

 


Mon, 12/12/2011 - 12:34 | Link to Comment reload
reload's picture

2 points

The size os Camerons `victory` IS unclear. Further attempts to introduce a financial transaction tax will no doubt be made by the EU. However Cameron is not yet out of bargaining chips, the Mastricht treaty does not have provision for the EU institutions to manage and administer a fiscal union. That will need treaty changes and probably refferendums in individual states IF the UK makes a big enough fuss about it.

Cameron had no choice but to use the UK veto. If he had not the result would have been a transfer of power via acceptance of outside fiscal governance. He can not agree to that without a refferendum, which would be DOA.

Mon, 12/12/2011 - 13:04 | Link to Comment JR
JR's picture

Now the press are warning of a backlash against the UK... Lord Peter

That is why the press, 96% of which it is said is in the hands of in the hands six companies, is reacting thusly.  And I repeat……

'In the Middle of a Storm'

"We are in the middle of a storm, which is why the hands of the leaders cannot be shaking," said Hungarian Prime Minister Viktor Orban. His Romanian counterpart Traian Basescu said that his country fervently hopes that the euro will be saved. "Every decision in Brussels will affect the daily lives of all Romanians," Basescu said. He called for an agreement among all 27 EU countries and not just the 17 euro countries.

Dutch Prime Minister Mark Rutte also announced his resistance to a euro treaty for only the 17 nations of the monetary union. "It is of great importance … that we keep countries such as the UK, Sweden and the Baltic countries and Poland in. We also have to make sure that we keep the union of 27 together," Rutte said upon his arrival in Brussels.

European Council President Herman Van Rompuy agrees. He too feels that it would be difficult to legally enshrine the new supervisory powers of the EU institutions if they were approved only by the 17 euro-zone countries.

Translated from the German by Christopher Sultan

That’s the Van Rompuy who said as EU president:  “2009 is also the first year of global governance with the establishment of the G-20 in the middle of a financial crisis.”

Mon, 12/12/2011 - 12:14 | Link to Comment moskov
moskov's picture

IF UK really wants to become sovereign, they should just leave the EU

Mon, 12/12/2011 - 12:52 | Link to Comment TheFourthStooge-ing
TheFourthStooge-ing's picture

If the UK really wants to become sovereign, they should just incinerate the City of London.

 

Mon, 12/12/2011 - 12:16 | Link to Comment Sudden Debt
Sudden Debt's picture

I do think he made the right decision.

Mon, 12/12/2011 - 12:26 | Link to Comment Eally Ucked
Eally Ucked's picture

Any decission would be right! It's worth nothing, it can be changed in a nick of time anyway. If I have my credit card maxed out and can afford only interest payment (in this case it is questionable) your choices are limited don't you think?

Mon, 12/12/2011 - 12:51 | Link to Comment GMadScientist
GMadScientist's picture

But for reasons vastly different than those being put forth. No donut.

Mon, 12/12/2011 - 12:23 | Link to Comment eurogold
eurogold's picture

Thats right the U.K. should leave the EU. All they ever wanted was to make rules for others, yet not have any imposed on themselves. Its high time to get the British to adher to continental banking rules, or to exclude them altogether!

Camron.....go Fuck yourself!

Mon, 12/12/2011 - 14:57 | Link to Comment Sandmann
Sandmann's picture

to get the British to adher to continental banking rules

 

You mean like SOCGen, Credit Agricole, Unicredit, UBS, Credit Suisse, WestLB, NordLB, HVB, BayernLB.................or do you mean like Deutsche Bank in London ?

Mon, 12/12/2011 - 12:26 | Link to Comment Meremortal
Meremortal's picture

UK will only leave the EU after the dominoes start to topple. I'll take Portugal in the "Whose first out?" pool. 2 dominoes, maybe 3, and the UK takes a powder.

 

Mon, 12/12/2011 - 12:28 | Link to Comment FunkyOldGeezer
FunkyOldGeezer's picture

Europe's proud history to date:-

Without EU = wars

With EU = peace

Short term he may well be right in his assumptions.

Strategically though, he's made a grave mistake, IMO. Sooner or later, the UK will desperately need the EU to back it up.

Mon, 12/12/2011 - 14:55 | Link to Comment Sandmann
Sandmann's picture

Half Continent occupied by USSR = Warsaw Pact. the other half occupied by USA = NATO.  They didn't want to fight so PEACE. Besides Churchill and Roosevelt gave Stalin everything Hitler wanted.

Mon, 12/12/2011 - 12:37 | Link to Comment Meremortal
Meremortal's picture

The EU is a rag-tag group of walking dead with one strong entity pulling the wagon. It is doomed. The willingness of some to live under the yoke in hopes of being taken care of is disgusting.

Mon, 12/12/2011 - 12:51 | Link to Comment sitenine
sitenine's picture

Cameron is a liar. The UK is the financial center of the World for one reason only - they allow activity that any other Country on earth considers to be fraud. Repo 105? Infinite re-hypothication? You bet your ass, and banks all over the World are betting your ass as well! Folks, when subsequent lenders can claim senior creditor status on YOUR deposits, you have a Fucking Big Ass Problem! STFU David Cameron!

Mon, 12/12/2011 - 13:09 | Link to Comment Börjesson
Börjesson's picture

When asked to clarify his new attitude towards the EU and the eurozone, the Prime Minister uncharacteristically burst into song:

 

Bless 'em all, bless 'em all
The long and the short and the tall
Bless the Merkozy, the Frogs and the Huns
Bless all the PIIGies, the penniless ones
'Cause we're saying goodbye to them all
As back home to Brussels they crawl
We'll have no New Order
This side of the border
So cheer up my lads, bless 'em all!

http://www.youtube.com/watch?v=xf4jhb9p2v8

 

Mon, 12/12/2011 - 13:09 | Link to Comment jmcadg
jmcadg's picture

Sovereignty and Unlimited Rehypothecation or Eurocontrol and arse on a stick.

Hardly a difficult choice.

Mon, 12/12/2011 - 13:10 | Link to Comment BLOTTO
BLOTTO's picture

Europena Union will not fail anytime soon. It took them way too long to build and create it - to have it bust. Its part of the agenda and plan.

Other EU memmber will get kicked out and other - new members will join.

Germany is taking over Europe like it tried to do back in the day... but this time, no shots fired. Who do you think sits on the thrown in England? The English?haha. Thats a Merovingian/Frankish bloodline on the thrown.

 

Mon, 12/12/2011 - 13:25 | Link to Comment JR
JR's picture

This is going to be the most revealing news yet, that the Prussians have swept control of the City and this very day have given marching orders to AIPAC, ADL, Goldman, and their chief field marshal, Benjamin Netanyahu (He’ll run the tanks through the desert like Rommel could never have mastered to save the City)!

Mon, 12/12/2011 - 13:50 | Link to Comment swani
swani's picture

Cameron needs to keep the unregulated banking sector intact at all costs. 

Mon, 12/12/2011 - 18:14 | Link to Comment 0ppenheimer
0ppenheimer's picture

Funny. I see a lot of the same people here chiding Britain for not joining a pan-European economic overlord who were previously lauding the pending default of Greece and their refusal to submit their monetary and economic sovreignty to just such an authority....

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