EUROBLOWN: The grisly necrophilia of the mad elites is merely the overture.

‘Lagarde praised reform efforts by Italy’s government and said market confidence had improved since Rome agreed to enhanced surveillance by the IMF. She also saw progress in Spain.’ (Reuters website this morning)
Veteran Sloggers will know that I had Mme Lagarde taped as a prime example of divine idiocy in human form way back during the days when she oversaw France’s descent into unrepayable debt. Somehow – and I’d imagine DSK would very much like to know how – she clawed her way up to the IMF job. And there she sits today, a person still incapable of exponential extrapolation, saying that Italy is improving and there’s progress in Spain.
Buoyed up by Chris’s remarks, investors pulled 100bn euros from european bonds. European sales by Fiat, Italy’s largest vehicle manufacturer, tumbled 26% to 81,469 cars – the highest drop in Europe. And Spain faces an important test today with its planned auction of 12-month and 18-month treasury bills….after yields topped the 6% marker again yesterday. Entirely understandable market concerns about Spain’s position mean that the nation’s borrowing costs are now higher than they’ve been all year.
What we have here is three dead bodies, my friends, called Greece, Spain and Italy. And how are the euro-elites dealing with their disposal? Well call me unpleasant, but it looks for all the world like necrophilic anal intercourse from where I’m sitting.
My lead piece yesterday concerned the pretty unsubtle Troika attempt to ignore the citizens again in Greece after the elections.
Angela Merkel opened her campaign to win back Germany’s most populous state in May 13 elections by appealing to voters to endorse her message of austerity. She offered ‘no respite to Spain in its debt reduction schedule’.
European officials travel to Washington this week seeking a bigger global war chest to combat the debt crisis as Spain’s government battles to quell renewed market turmoil over its finances.
And she who sees only improvement and progress will meet with frantic EU officials in three days time, where it is guaranteed that crisis-fighting resources will dominate talks at the IMF’s spring jolly in Washington from April 20-22. Because everything is going so well, Lagarde has dropped her bazooka requirement from 600 to 400 bn euros (might as well be realistic). Only faraway Japan is going to bazooka her firewall-war chest….with $60bn. Washington, however, insists that Europe has all the resources it needs to do the job itself.
Some of this may look to the lay-reader like help, but in reality it is necrophilia – a last ditch attempt to ‘show’ the markets that the Troika will triumph in the end. This triumph will involve stopping debt contagion hitting US banks on Wall Street, US banks in the EU, and US banks in Asia. It will involve keeping $300 trillion of self-created debt out of the real world, in order to save the perverts who created it in the virtual world of obligations and derivatives cut every which way and then some. And it will do this by engaging in sexual congress with dead people. Not until every last ‘consumer’ has been rendered unable to consume will the next stage begin.
Do the elites around the Globe know this is unlikely to succeed as a defence strategy? I’d say Draper Osborne probably doesn’t – he pledged £10bn of our money to Frufru Lagarde yesterday – but aside from him, pretty much everyone else does. That’s why lots and lots of preparations are under way. Once again, I urge you all to simply record the facts, not dismiss this as conspiracy theory. Having shagged all the corpses but still not achieved a satisfactory level of satiation, the Masters now plan to ensure that any gobby serfs are kept well in their place.
The German Government has a ready stock of plain banknote paper it bought ahead during 2010. It has also passed EU-illegal laws keeping all ClubMed paupers from getting their hands on German welfare money.
 Madrid has threatened to seize budgetary control of wayward Spanish regions as early as May if they flout deficit limits, officials said yesterday. And new laws there have been introduced to criminalise online/texting incitement to disorder.
In the UK ten days ago, Home Secretary Theresa May tried to sneak through Parliament a draconian GCHQ package allowing for blanket suveillance of all online activity. Caught at it, the Government back-tracked hastily. But they’ll be back soon enough.
And level-headed Ed in Houston, in response to The Slog’s Sunday Essay last weekend, offers this as a response:
‘ The US seems to be preparing now for anarchy. Homeland security has purchased hundreds of millions of rounds of hollow point bullets, to be used domestically. Bullet proof check point stations are being purchased to control the flow of the populations, the
UL 752 BR. And you probably heard already that the government is implementing a system to that will allow any mobile phone to be remotely disabled, necessary for the control of the citizen’s communication during the anarchy.’
Hatches are also being battened down in all the key transactional areas. Gold, as we have seen, is being capped to block off any escape route once the US stock market collapses.



As the FT reported yesterday, clearing houses and other central counterparties that handle complex securities transactions will be required to maintain enough capital and liquidity to withstand the simultaneous collapse of their two largest users under new global rules announced by securities and payments regulators.

But meanwhile, undeterred by this plunge into a potential abyss of mediaeval poverty and martial law, the drongos who caused this mess are still at it. Yesterday, Italy’s stock market regulator fined André Santos Esteves for alleged insider trading, just days before the Brazilian billionaire is to launch a high-profile initial public offering of his investment bank, Banco BTG Pactual.

I’m afraid there will always be some people in the world who simply are too feral to deregulate. In dealing with them, I suspect a better approach would be to strangulate. But no doubt wiser voices than mine will prevail.


100 thoughts on “EUROBLOWN: The grisly necrophilia of the mad elites is merely the overture.

  1. “And you probably heard already that the government is implementing a system to that will allow any mobile phone to be remotely disabled, necessary for the control of the citizen’s communication during the anarchy.’”
    Nope. And I don’t hear of any talk of anarchy from friends in the US either.
    You seem to be saying that the US has accepted the unavoidable collapse of the economy. That’s the bit I don’t get.
    The US will never accept that.
    War would come first.


  2. a good if very scary read john thank you for all the hard work
    i wonder if they are printing get out of jail cards because this seems to me to be crimes agains humanity

    ( debt slavery must be covered there some where)

    We used to call these people loan sharks now we call them the IMF ask any country to ever deal with them


  3. Well at least the grey squirrel problem will be sorted, anyone got a receipe for squirrel stew? Or is it better as a curry?


  4. Plus their innumerable concentration camps that were established under Dubya all round the country on military bases ‘just in case’.


  5. The days when money represented something tangible have long gone.

    I’m reminded of Douglas Adams’ Restaurant at the End of the Galaxy, where they sent all the useless w***ers to another planet, telling them they were the elite. When the elite arrived, they used the leaves on the tree as money tokens and thought themselves rich. The tragedy is that planet Earth’s “elite” will only p**s off to another planet when the Earth and its people have been raped and plundered to extinction.


  6. Are there source references for the H. Security actions? And what would the ‘elite’ do with all the people? – I mean if the economy breaks down completely.
    Certainly, instinct tells me that some kind of huge crisis is coming. I took the family on a foreign holiday this year. but I am not planning to leave the country again any time in the near future. It made me nervous to do it this last time – in case we got stranded somewhere – as we have a young child.


  7. @Jason/@kfc: Quite so.
    Methinks we might be looking at a confrontation that extends way beyond Iran and Syria. You know how the old saying goes: “if you aren’t with us, then you’re against us.” China may be the recipient of that sometime soon if it attempts to sieze control of the external USD, which would push the US into insolvency.


  8. @OAH: Yes indeed. There’s been a lot written about them for a while. I think they might be called “happy camps”…all the fun of the fair and Butlins rolled into one, except you can’t leave.


  9. It is all now getting very interesting. We have for some time been watching TPTB trying to defy gravity in disbelief that they didn’t get it. Perhaps all this tightening up of ‘security’ measures, with a bias towards controlling the home population is perhaps the first observable signs that they know the game is up and are just now staving it all off until their self protection measures are in place.
    To be frank I find that vaguely reassuring. It means ‘we’, as in JW and his ilk and ‘us’ who read them were right all along.

    That means that the measures I and others have put into place just need to be topped and tailed to be worth their weight in… well, food?

    ps typing blind again, the text is under the ‘details’ boxes. I wish I could find the fix, perhaps it isn’t wordpress but it only happens on JW’s Blog.


  10. The US had been engaged in ongoing war for decades. Small small, some big. If there is another Great war in their sights then there will be conscription and hundreds of thousands of ‘aliens’ will be detained, just like in WW2. The camps will be needed for the conscription refusniks, the aliens as well as run of the mill looters.
    The ‘legal’ framework is now100% in place.


  11. @Jwoo: Well put. It looks like the endgame is now in sight. I’m sure the criminal EU political elites will claim ad nauseum that every action they’ve taken over the past ~3 years was aimed at preventing a disaster. In truth, they were all about saving themselves and their utopian dream of a new EU fascist empire, absent democracy. If the people across Europe allow them to get away with their failed coup, destruction of the European economies and widespread impoverishment, then we deserve everything that happens. This fiasco should herald a new dawn…will it? hhmmm.


  12. “If the people across Europe allow them to get away with their failed coup, destruction of the European economies and widespread impoverishment, then we deserve everything that happens.”

    Theres the rub BT and the other prong to my fork. We know how few people see what is happening in *our* terms from our everyday conversations. So as long as TPTB keep on keeping on as they have up to now, you, me and all of what I might term the ‘better informed’ will be the dangerous ones to TPTB. All this new legislation will be used against us, we will be the villains and the great numbers of’ignorant’ (as in uninformed) populace will accept what is done with us. Why would they not, they have accepted all the other tosh from TPTB.

    That aspect, in honesty, I don’t find even vaguely reassuring.


  13. Something big is about to go down this year,no doubt about it.
    The insanity of it is it is all “virtual money”.
    That’s the part that stinks “virtual”.
    However ,
    Lessons from history show that violent crackdowns on population by states very often end up with the rulers standing in front of a bullet ridden wall.
    Of course some economies will be more effected than others, states that have a food surplus will do better I think.
    We import 50% of ours so what happens when no one wants our funny money any more?
    Do yourself a favour ,start growing veg at least ,keep chickens,have some physical gold you can barter with.
    Oh, and “something” to protect yourself with.
    Maybe the “preppers” are right after all.


  14. It’s been obvious to a sizable % here in the US for a while
    now, where this is heading.Personal gun sales are up over 200% in
    three years.At least we have the tools to fight these bastards.
    This looks to be the year its all going to happen.
    I,for one, will not be taken quietly in the night.


  15. Krugman – like most economists – seems to be a bit muddled.
    He talks about dismantling the EZ (quite rightly IMV) but then talks about Germany adopting more profligate fiscal policies to offset austerity in the PIIGS. And for the ECB to publicly accept higher inflation. But the latter consequences would only occur if the EZ remains intact, not if it was dismantled.


  16. Why you can’t inflate way the Eurozone’s troubles,writes Mats Persson, director of Open Europe:

    According to some accounts, in 1920, a Berlin bus ticket cost 11 marks. On November 22 1923, the same bus ticket had risen to 1.2 trillion. By the afternoon of November 23 it cost a mind-boggling 4.8 trillion. The hyperinflation that hit Weimar Germany in the 1920s wiped out the savings of every prudent German citizen – and reduced the country’s political class to an utter wreck. The rest is terrifying political history.

    You can hardly blame the Germans for fearing cheap money and inflation – a fear which runs incredibly deep. Consider, for example, that while British tabloids splash their front pages with celebrity gossip and The X Factor, the tabloid Bild, Germany’s (and Europe’s) biggest-selling paper, leads with huge pieces on the political independence of the ECB, in appeals against inflation.


  17. FEMA Camps….

    Last thing I remember, I was
    Running for the door
    I had to find the passage back
    To the place I was before
    “Relax, ” said the night man,
    “We are programmed to receive.
    You can check-out any time you like
    But you can never leave.


  18. John, a huge flaw in your ‘this is all bollocks’ approach is that all too often purveying bollocks, whitewashing, telling outright lies, call it what you will, is the only sensible course of action for officialdom. You and I and many others here might agree that pulling the plaster off quickly is preferable and that what would have been really sensible would have been to pull the plug on the euro months if not years ago, but for others there will be other considerations, some respectable, many – such as not losing face – quite obviously not. So relating my comment to what you write above, what course is exactly open to Legarde? She obviously can’t say ‘Greece is bust and Spain is rapidly going to the dogs’ and often saying nothing is tantamout saying that.
    Then there is the dance within a dance which is going on within another dande, with individual states in the EU quietly looking after number one (which is why I can’t get quite as irritated with the Germans as others here are, and just wish Britain would do the same as the Germans), and Europe looking after number one for the simple reason that the U.S. is doing exactly that, as are China and every other country on Earth with even half a brain. That the U.S. seems to be working hand in glove with Europe will be because it has so much to lose if (or rather when) the euro goes up the swannee, so it sees self-interest best served by common interest.
    So the ‘bollocks’ seen in that light is still 24-carat bollocks and always will be but it helps to see things in a different perspective. I work in a ‘bollocks’ industry (tho’ I call it a bullshit industry) and the only way to stay sane is to keep it at arms length. Surely that was also your strategy while still working with the lads in bow ties, pink glassess and long lunches?


  19. Pingback: John Ward – Euroblown : The Grisley Necrophilia Of The Mad Elites Is Merely The Overture – 17 April 2012 | Lucas 2012 Infos

  20. pfgpowell.

    At lot here would agree but permanent damage is being inflicted by these self-interested, heartless see-you-next-Tuesdays. Shining a harsh light on their shenanigans is the least we can do.


  21. Seems the big problem here is that a minority of people are doing a bunch of things that may screw us all. And – however unpopular it makes them as a whole – they get away with it. No one feels it’s on their individual shoulders.

    It might be that people need to start demanding justice rather than just shouting. If everyone was clearly and vocally of the mind that *everyone* from bankers to traders to politicians who colludes in this should be tried or held accountable, it might start to make a lot of people think twice. And make a lot of decisions harder to push through.

    I’m, not in any way in favour of revolution, mob rule, or anyone getting hurt. Quite the opposite. But I do worry that unless we see a course change soon, that’s maybe what we’ll get. And that does scare me.

    John: You’re old school media and communications… Is there any *one* message we could shout together (or consistently and visibly post on comments and blogs) that might cause them to stop and think twice? Maybe before someone loses an eye?


  22. “It might be that people need to start demanding justice rather than just shouting. If everyone was clearly and vocally of the mind that *everyone* from bankers to traders to politicians who colludes in this should be tried or held accountable, it might start to make a lot of people think twice. And make a lot of decisions harder to push through. ”

    But surely the problem is that so few are even aware of what most on this and other like minded sites appear to be broadly in agreement on, the greater majority of people don’t, won’t or don’t want to see it the way ‘we’ do.

    So that means both that you have to shout to get their attention and they still wont get it because people don’t like to be disturbed.

    ‘H’, youknow (I have said as much in the past) I like your style. But ‘people demanding justice’ is what happens on the web daily. It ain’t working. The conversations I have still with my circle of friends almost weekly serves as a reminder to me that to them my mental health must be a worry because they just don’t see it the way I and others do.


  23. In the land of the blind, the one-eyed man is king …..but he still may be regarded as being off his head by those who cannot see.


  24. @pfgpowell

    No disrespect intended by saying so but what you have said seems to me to be a perfectly circular argument and therefore self defeating.


  25. Yes I find the best option is to imagine oneself being violently buggered (no offense to anyone who might enjoy that kind of thing) while having one’s face forced into a pile of shit and ones toenails removed…that way the future might just come as a pleasant surprise


  26. “but he still may be regarded as being off his head by those who cannot see.”

    Yep, but only events will prove who is/was right and I don’t suppose there will be any consolation to be had from being proved right. Unless of course those responsible are suddenly held responsible. Then drinks all round.


  27. Thanks Jwoo. :-)

    I know what you mean… and I think more and more people are getting switched on to what’s actually happening. That’s something that’ll carry on happening in the background. Especially as more people are affected by it.

    It just seems that for public-demanded change to happen, there needs to be one (or so) clear demands. It’s when you keep seeing or reading that one, succint, easy to understand and easy to repeat point that it gets traction.

    If everyone’s having great but disparate conversations, nothing really stands out above the chat.

    My big worry is the gap between how people feel and what people do. It’s that ‘stiff upper lip’ thing… I worry that the powers that be are looking at what people are doing and taking that as the measure of where we’re at.

    As things like greek bombings (thanks for the news feeds JW) show, people can and do get pushed over edges. And if the krugman observations on desperation (see link above – thanks petitb) are anything to go by, things are bad.

    When someone decides things are so desperate that they take their own life, that’s tragic. If they’re angry and with nothing to lose and no fear of death: they’re dangerous.

    I’m genuinely worried that – if things do get genuinely bad – we’ll end up with some dangerous people out there unless tptb stop and take an accurate assessment of what’s actually happening. If you live in a political bubble and lunch with elites, it’s easy to misjudge that stuff.

    I’m also remembering the recent looting. It only takes a small number of people hell bent on destructing to cause real damage. If those people at least see those in charge ‘trying’ to do the right thing, they’re more likely to lend support than to riot.

    I’m just in favour of any visible and easy ‘gimmicks’ that might get them to at least pause and question.

    Might be a pipe dream, but worth wondering about.


  28. @MMP

    Ha, you think that would be hard, why when I were a lad………

    Only kidding. But I will pass, on your imaginings, if you don’t mind.


  29. @JWOO
    It’s beyond educating others now.
    Personal and family survivall. is now the only aim.
    The sheep will be slaughtered,materialy and ultimately


  30. @Jwoo: I am sure it is no coincidence that whenever totalitarian despots sieze control of any society, it’s always the educated, intellectuals and well informed who are hunted down and expunged because they represent the greatest threat. In China, when Barroso’s mentor Chairman Mao took control I believe they were called ‘the spectacled ones’ because they were middle class or higher and the only ones who could afford specs.

    Expect the EU elites to announce their own ‘Great Leap Forward’ sometime soon…then the rounding up will begin.


  31. @Winston and @ MaxC

    My own view is that if a government prevents citizens from protecting themselves it is right only to do so providing it then guarantees the citizen’s safety.

    The Uk government reneged on the deasl decades ago.

    Of course allowing citizens to arm themselves will lead to atrocities happening. Whether more or less would occur I think would be an interesting study. We have had decades of gun ownership effectively being unlawful. Perhaps we should now have a few decades of ownership being lawful for comparison purposes.


  32. @Jwoo,
    The studies have already been done here in the US.
    The amazing drop in violent crimes outside ghetto areas,
    is a perfect correlation to the rise in concealed weapons
    carry permits.


  33. @pfgpowell: When something is fundamentally flawed and so obviously wrong wrong wrong as the Euro is, given the huge damage its continued existence is doing to the global economy, the banking system and many millions of individuals, the right course of action and the only acceptable course of action is to create a plan to deal with it. Obviously such a plan would seek to minimise the pain and suffering to innocents.
    But what have we seen for nigh on three years from the EU elites?
    Denials, lies and ever bigger denials and lies in a vain attempt to deny the undeniable and prevent the inevitable.


  34. @Jwoo. Just for the record I’m a buddhist and I’m not into guns in any way (I was only pointing Winston to a newspaper atricle). But I also recognise there is a dark side of me that, if it owned a gun, would have a very itchy trigger finger. That’s why I think banning the bloody things is a good thing.


  35. Well MaxC, I think that probably means that you know who or what you are so, respect.

    As for me I really am never sure what I am but I know what I am not. Number one on the list is I dont do ‘turning the other cheek’ by choice, but successive governments have been trying to force that on me for decades.

    If I am honest I’m ready to try a different route and if that means being on a level with those who intend me harm, I’m game.


  36. @pfgpowell

    That might be a reasonable argument IF these people were working in the interests of the majority, i.e. you and me, but they aren’t. They are working firstly in their own interests, maintaining their power, their prestige and their wealth, secondly in the interests of those others who have power and influence, vested interests like banks and big business and thirdly in the interests of their cronies and flatterers. And they do it at our expense, not their own, not the vested interests and not their cronies. That is why I would call it justice fairly done if the whole lot of them were suspended from lamp posts.


  37. So what is new? You are describing what happens when one is in power and has been happening since the first tribal chief was handed a special stick and told ‘you’re the boss man, now’. It would happen to you, to me and our host Mr Ward. The fact is that we aren’t in power and so can afford principles and outrage.
    Overwhelmingly in the past leaders were not democratically elected as many are now, so unacceptable behaviour, though just as dispiriting, did not cause such maidenly outrage. Now we, naively, expect those in power to follow a mythical script of How To Rule In A Democracy, and to a large extent they do when things go well. Or rather we, the plebs, are enjoying our prosperity so much we pay less attention.
    But when, as now, times is hard, we get uppity and complain about ‘them’, those ‘in power’ ignoring us, making up the rules as they go along, serving their own interests, blah-di-blah. But as they say, plus ca change, plus la meme chose (add your own accents), so with my most cynical hat on my only comment are: don’t be so bloody naive: water will always be wet.


  38. I agree with him…inflation is not the solution. IF the EZ is to remain intact to satisfy the agendas of the EU elites, the only viable solution is for large annual fiscal transfers from the rich north to ClubMed. But I don’t think many Germans like that idea.


  39. “…it looks for all the world like necrophilic anal intercourse”

    That may tell us something about your mode of perception but how does it help understand what is actually happening?

    “It will involve keeping $300 trillion of self-created debt out of the real world”

    $300 trillion is considerably more than all the money in the world. Presumably you are having the same difficulty Churchill had with the damned dot.

    And then the hollow-point bullets. How exactly does this tie in with the financial business? Or is thes entire piece a sort of abstract work of political expression not susceptible to any kind of analytical interpretation.


  40. This reminds me of a Sports Utility wagon I saw outside the White House once, with a big badge on the side saying ‘US Secret Service, Uniform Branch’. Not a Hummer, though.


  41. @cs
    I would suggest that you engage brain before
    If you want to find out how John is exactly correct ,I would
    suggest a little(months)of self education .Start at
    and do your OWN research,before posting.


  42. Mmmm, Large annual fiscal transfers from Germany to the ClubMeds.
    Wonder if Merkel could swing that with the electorate?
    I wouldn’t put it past her giving it a go…..


  43. Pingback: Euroblown: The Grisly Necrophilia of the Mad Elites is Merely the Overture

  44. @pfgpowell

    I think your comment was addressed to Peter C but I agree with him so forgive me if I piggyback on his theme.

    ‘Times is not hard’ for me or mine. Whether they become so is yet to be revealed to me or them. It seems to me that you like so many others imagine that those of us who criticise some how feel hard done by.

    Wrong. I get tired of saying so but I’ll try once again. This isn’t about what is good for me it is about what is right, as distinct from what is wrong.

    It may be that you are unable to divine the difference, in which case I can’t help you, but you surely will need it at some time, so good luck to you.

    Having said all that, what on earth is the value of your point?


  45. @pfgpowell

    I see, so you recommend we all crowd in to get pissed on, only asking where would you like us to stand, Master?

    I also disagree with your views in general, the UK has never been and was never intended to be a democracy, that we have the potential for some democracy in our political process is accidental rather than intended. And if you think the opportunity to vote for a party political MP every 5 years on the basis of a catalogue of platitudes, vague promises, even vaguer aspirations (did you hear or read Cameron’s election speeches?) muddled intentions and downright lies is in any realistic way ‘democratic’ all I can say is, I see no hope for you.

    That aside, I completely agree that most countries, including the UK, have always been governed in the interests of the political elite, money and vested interests, the difference is that in those by-gone days it was those vested interests and elites who paid the bills for their games. When they made a profit they stashed it in their pocket, when they made a loss they paid for it out of their pocket. Do you see that happening now? No you don’t, now when they make a profit it still goes in their pocket but when they make a loss it now comes out of OUR pocket. That is the big difference. I don’t care if a bank goes bust, I do care if it is so horrendously mismanaged that it goes bust and I am expected to bail it out. Just as I care that my savings produce a negative income to ensure that banks can make obscene profits and my taxes go ever higher so the government can pretend it is solvent instead of taking real measures to repair the economy.


  46. Mr(?) Powell I agree with your views. The politicians have to talk bllx as the truth is not necessarily the right approach. It can be self-fulfilling and lead to disaster. However like Wiley Coyote running on thin air over the canyon, sooner or later gravity will kick in. The Euro is a busted flush unless we see the EUSSR. And that probably is the objective.


  47. BT , Jim willie is the finest of all the economic, political writers on any blog (sorry John) and in his latest article he really nails it. New financial system is very close and so is judgement day!


  48. “$300 trillion is considerably more than all the money in the world.”

    Many congratulations CS, you may have just stumbled upon the point. Of course that wont help unless you realise it. do you?


  49. Wouldn’t be transfers. Loans, guarantees, modernisation funds, infra-structure funds, money printing, derivatives. Nothing so straightforward as saying the Germans have to hand over their trade surplus into perpetuity. Which is about the sum of it. Easily sellable I would think with a little bit of spin…. ;-)


  50. Yes, so it only leaves the little problem of Spain and Italy then. Get those under control and there’s hope for Brussels?
    Ireland and Portugal will be forced to acquiesce, the Jackboots be made ready, game on?


  51. The cost seems to be a measly 250B per month of printed LTRO funny money – essentially a few mouse clicks. I expect this charade has a few more rounds!


  52. This whole mess is a Fourth Reich operation to bring about the healing of the Holy Roman Empire through the Vatican. Go to “The Unhived Mind”


  53. Best solution is still that Germany leaves the Euro one Friday evening.

    Prints it’s new currency the German Sauerkraut over the weekend.

    Converts all German Bank accounts from the Euro to the Sauerkraut over the weekend.

    Europe wakes up on Monday morning with the Euro devalued by 30%.

    And Germans all the Sauerkraut they could ever dream of!


  54. @ david stoddart

    I am still of the opinion that in the end this is what will happen, if it comes to the point that Germany is left holding the bag, whether that is in cash terms or via massive Euro printing, and I am confident it will, they will walk away.


  55. You just have to hand it to Mdme. Lagarde and her impeccable timing. She just praises Italy publicly for coming along nicely and they announce ( via Reuters) that the balanced budget target will now slip to 2014 ( previously 2013).
    They are doing so well that they cannot meet their target. What odds on a further slide as 2012 comes to a close?


  56. O.K. You bright guys. Tell us about this $300 trillion in debts. Where are they? What are they? And note that a derivative is not a debt, although a debt may be made into a derivative. In 2008 CDOs totalled less than half a trillion. So where’s the other 299.5 trillion?

    And, Winnie, I don’t think I shall find an explanation of the anal necrophilia allusion on zerohedge.


  57. I’d say all the forecasts for all the EZ countries – and a few others – are on the racy side. My take is they all miss in 2012 and there will therefore be no bounce in 2013.


  58. And the band plays on!
    Thanks John, great report.
    Maybe we should all get a CB Radio.

    ” don’t be so bloody naive: water will always be wet.” Not when its frozen.

    The people who run the beast, don’t care about the majority, that’s a Fact.
    What is coming Is coming, Be prepared. This is a bigger play than the few can deal with. Look to what you can do for your own situation and keep trying to get friends, family and neighbours on-board.
    Put 15-20% of your savings into gold/silver physical. have some extra supplies in the house to cover a possible disruption. Lean new practical skills now and know there will be less to go around in the future. Costs will go up and up, there maybe a few breathers on the way but higher costs of living will be the norm.
    Bearstern and Lehman brothers were flushed by the other players, they fight each other like rats in a bag, but who is holding the bag.

    Peter Cruddas caught taking bribes, where Cameron and Osbourne must have known and yet NO justice. If it were you or I, we’d be going to jail.

    We don’t count, we’re not in “the club”
    Believe it or not I am optimistic, in respect that being aware of what is really going on can frighten but then empower.
    As someone mentioned Douglas Adams’s Hitchhiker series, here’s a
    quote- “DON’T PANIC”
    These are just my opinions.


  59. What if we had a War and nobody turned up! Wouldn’t that be great.
    Still, it probably will come to War,sadly.


  60. George Orwell was about 40 years out with Ingsoc, thoughtcrime, newspeak et al.Seems to me that the wheel is turning full circle and we are returning to a virulent form of Communism……..Capunism, which is even scarier because those left at the top will make Stalin look like a numpty. Who will be in the Politboro? Go to it JW.


  61. @phil free: Thanks for that. I also got the impression Jim knows what he’s talking about. It really makes me wonder if the rumours of a new financial system is currently being planned are true. I have some rumours on that from elsewhere which says it will be backed by gold, but not in the same way as the old gold standard.


  62. @Trader: I think the new paradigm is fascism (what you call Capunism). But it’s pretty much the same thing. This time round, the fascists aren’t wearing military fatigues and doing the goosestep…they’ve got Armani suits and eat at the best restaurants, at our expense. The tell-tale giveaway is when you spot their still wearing jackboots and are as bloody-minded and braindead as they ever were.


  63. It seems the conclusion to Capitalism is Fascism.
    Communism and Capitalism are the same thing on either side
    of the coin.
    The few can only have what they have/want by exploiting the many, there is no other way. Their in charge, they make the rules.
    That doesn’t make them over smart, just in-charge.


  64. damn, just when I get loads of offers of work these last days
    – shall i bother ? only if I get paid á Konto


  65. @pgpowell

    Does your moral elasticity extend to the plebs, or just the Patricians ?

    Would you be so tolerant if you directly suffered as a result of the dishonesty of someone like Laguarde ?

    ” Keep it at arms length ” should that apply to empathy ?


  66. WS: “At least we have the tools to fight these bastards.”

    The thing is, the “these bastards” will be the sons and sometimes daughters of ordinary folks like you and me, not the elite, that we think we’re fighting.The acutal “bastards” are several levels up/back away from the action.

    (It was for this reason, the need to take ordinary 18/19 year olds out of the war fighting machine, that I briefly became involved in the anti-war movement here in Ireland. (I quickly left for, let’s say, generally diverging political aspirations)).

    But we need to bear this in mind as we tool up. Equally, we need to remember who will actually be pulling the trigger at us if we’re holed up in our apartment that the bailed out bank is repossessing…… …………..

    Spread the word. The next apartment stormed could be that of a brother/sister/father/mother of an SAS man/woman or a Navy Seal or a Ranger etc.

    Spread the word. It’s not a class thing. The elites aren’t worth it.

    Spread the word.



  68. Pingback: John Ward – Greek Election Sensation : What The Voters Weren’t Told…But Just Found Out – 18 April 2012 | Lucas 2012 Infos

  69. I’m puzzled. I’m not actually trying to justify or excuse the behaviour and you, apparently, think I am. And at no point to I suggest that these chaps – usually chaps – are working in the interests of the majority. It’s pretty obvious they aren’t.


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