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03-29-2013, 02:11 PM #1
DaJavoo If looks could kilt
Posts:1,773 Threads:45 Joined:Mar 2011
What Is the REAL Euro End Game? <---Linky

Dominant Social Theme: It is time to apply the free-market to bank depositors.

Free-Market Analysis: According to Business Insider, Jeroen Dijsselbloem has provided an "end game" for the euro that shows clearly what strategy is being contemplated.

And the strategy is to shift responsibility from taxpayers to bank depositors for insolvencies. The idea, apparently, is to bring the discipline of the free-market to the euro crisis.


The Business Insider article later points out that media reaction to the Cyprus situation generally has been that "authorities are 'stupid' and 'have shot themselves in the foot'."

But Business Insider then raises the question, "What if they're not stupid?"

We've raised this question as well, though in a different context. We do believe that those running the eurozone are following a kind of program and it is one intended, in fact, to deepen the crisis rather than to alleviate it.

We base this on comments reported over the years in which top Eurocrats stated clearly that the only way to achieve a full-on political union was via a deep economic crisis.


If you have a bank crisis, the last thing you want to do is further destabilize trust and confidence in the system. But Brussels Eurocrats have done just that.

One is left with two choices. Either this strategy was a deliberate one or it was a mistaken one. If it was a mistake, why is Brussels declaring that this sort of approach shall be banking policy going forward?

Conclusion: Nope ... Don't think it was a mistake. If one accepts that line of thinking, the ramifications are serious and deep from a sociopolitical, economic and investment standpoint.
03-29-2013, 02:34 PM #2
JayRodney ⓐⓛⓘⓔⓝ
Posts:30,289 Threads:1,495 Joined:Feb 2011
Excellent thread, tis a pin! This will only cause chaos, bank runs and more mistrust of the IMF and Brussels. Most Europeans have no trust in these institutions to begin with.
This is fast becoming worst case scenario IMO.


03-29-2013, 02:48 PM #3
DaJavoo If looks could kilt
Posts:1,773 Threads:45 Joined:Mar 2011
(03-29-2013, 02:34 PM)JayRodney Wrote:  Excellent thread, tis a pin! This will only cause chaos, bank runs and more mistrust of the IMF and Brussels. Most Europeans have no trust in these institutions to begin with.
This is fast becoming worst case scenario IMO.

Thanks for the pin, JR. [Image: safetypin300px.jpg]

imo, it's always about power and control and nothing gets to the heart of it like money. And, the artical points out that the people pulling the strings are NOT as stupid or crazy as they appear.

Reminds me of what Ben Franklin was reported to have said about the Declaration of Independence ~ something along the lines of "We must all hang together or surely, we will all hang separately." The EU will force its own survival.
03-29-2013, 03:43 PM #4
Octo Mother Superior
Posts:41,550 Threads:1,589 Joined:Feb 2011
Can't let a good crisis go to waste now can we... gaah.gif
03-29-2013, 03:45 PM #5
Kreeper Griobhtha
Posts:11,167 Threads:770 Joined:Feb 2011
How do you spell scapegoat?


Of course they aren't stupid. If they were they wouldn't be running the world.


What politics from both sides wants to teach us is that things are never complex. If you have your little package and something doesn't fit into that package, You don't know what to make of it so you want to dismiss it or then you will have to do the work of reconsidering your assumptions. - Michael Malice
03-29-2013, 03:46 PM #6
UniqueStranger Art in my heart
Posts:15,718 Threads:473 Joined:Jun 2012
And just how well are they running the world? sad2.gif
03-29-2013, 03:51 PM #7
Shadow Incognito
(03-29-2013, 03:46 PM)UniqueStranger Wrote:  And just how well are they running the world? sad2.gif

Very well, for themselves coffeetime.gif
03-29-2013, 04:10 PM #8
yankees skier
Posts:5,032 Threads:215 Joined:Feb 2011
SNAFU, Order out of chaos.

03-29-2013, 04:17 PM #9
Shadow Incognito
Good morning Hop head chuckle.gif Friday!! beercheer.gif
03-29-2013, 04:20 PM #10
JayRodney ⓐⓛⓘⓔⓝ
Posts:30,289 Threads:1,495 Joined:Feb 2011
Good Friday at that... beercheer.gif They all are though.


03-29-2013, 05:32 PM #11
Shadow Incognito
lmao.gif lmao.gif lmao.gif brilliant! coffeetime.gif
Anonymous Kritter Show this Post
03-29-2013, 05:59 PM #12
Anonymous Kritter Incognito
It could be that the European Central Bank just realizes there are actual LIMITS to papering over losses for the big banks, so they are forcing depositors to bail out those institutions. That is a free market principle when government facilitates the bankruptcy and then allocates any existing capital to bondholders, shareholders, depositors, etc under the existing law.

But what we see is not an approach to existing law but more like experimentation. How many privileged depositors got their money out first before any of this was even discussed in Cyprus? Are they bailing out the banks in Cyprus to backstop bonds that the banks bought which they knew were bad investments to begin with?

This is more like a dying socialist system trying or experimenting with anything they can to cover up their insolvency, but keeping 1 thing paramount: the banksters cannot fail personally.

Anonymous Kritter Show this Post
03-29-2013, 06:01 PM #13
Anonymous Kritter Incognito
(03-29-2013, 03:46 PM)UniqueStranger Wrote:  And just how well are they running the world? sad2.gif

Whether good or bad, they want you to think there is no other alternative.

03-29-2013, 06:02 PM #14
DaJavoo If looks could kilt
Posts:1,773 Threads:45 Joined:Mar 2011
Aptly summed up by George Ure this morning: http://urbansurvival.com/week.htm

Cyprus and Wilbur's Wonders

With the banks open in Cyprus, at least kinda-sorta, this email from Wilbur makes for an interesting discussion:

"Dear G Avid daily reader since '06-grateful, also, as I have incurred some knowledge(slow learner) and what we could call windfalls. I was born in '55, my school dictionary for many years- The Winston Dictionary for Canadian Schools 1957. ( You would like cover graphics of Silver silhouette D18s Beech flying over World.) EXTORTION (page 186) n. 1, The act of obtaining by force or threat; 2, unjust exaction, as of excessive interest on loans; 3, that which has been exacted unlawfully. Me guesses that described the Cyprus affair without (reps. for the people) Govt. vote. But wait, being written into law with our latest budget up here? Obviously as long as it is law it aint EXTORTION, right? "

Wilbur, you missed the hint from our source in the PowersThatBe "First you need a Navy."

Once you have key, you unlock the mystery of extortion: Study the makeup of the Cyprus Navy here: http://en.wikipedia.org/wiki/Cyprus_Navy ~ Mostly speedboats.

Now: Compare with the size of EU naval power, or just the French Navy, here: http://en.wikipedia.org/wiki/List_of_cur...Navy_ships

Here's how this works: Any Idiot can see that Cyprus is bankster EXTORTION as Wilbur so ably points out. But when the size of navies is considered, the EU scammers and fraudsters can put a sack of dog poop on the doorstep of Cyprus, light it on fire and call it a "bailout." Just like you do on April 1st and Halloween.

When the Cypriots come out on the porch screaming "There's a sack of shit on fire on our front porch" and "We won't put up with this crap anymore!" the size of the navy is mentioned, (plus vile hints at a garrot about the country's financial genitals) and suddenly "It's a bailout!"

The Truth Hurts. And our friends in Cyprus are feeling the pain of it right now, so that it will be highly refined and tested when comes our turn to sample it.

Economics depressions require the destruction of savings by hook or by crook. Since hook is off the table here comes....uh...the EU.

Of course this could blow up the euro, but no one has ever accused bankers of being particularly forward-thinking. Which is how we got here... The phrase compound idiots is a useful thought construct.
03-30-2013, 04:29 AM #15
オタマジャクシ Member
Posts:1,098 Threads:31 Joined:Nov 2012
I'm not sure if this is true.

But what is happening is scumb (a combination scary and dumb).

Once they have looted the private savings:
1. What will they do with the loot?
2. What will they do next?

Looting private savings chews up investment capital. Unless your goal is government ownership of all real property none of this makes sense.


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