30 May 2012

Biderman & Santschi On Europe's Delusions And Money-Printing Illusions

"People need to stop expecting simple solutions" is how David Santschi succinctly describes to Charles Biderman the delusion that so many European leaders (and seemingly US and European investors) perceive our world. The prevalence of lying and delusion in Europe is what worries the TrimTabs' chaps the most - especially since in a Fiat money system (where money is backed by nothing but confidence) - with the people running the system lying on a grand scale, the chance of systemic failure are very high.

Lagarde On Taxes And Diplomacy: It's All TurboTax To Me

Tyler Durden's picture

What is it about IMF heads and inserting foot, or some other appendage, in mouth, or some other orifice?
Using some of the bluntest language of the two-and-a-half-year debt crisis, she says Greek parents have to take responsibility if their children are being affected by spending cuts. "Parents have to pay their tax," she says.

Lagarde, predicting that the debt crisis has yet to run its course,  adds: "Do you know what? As far as Athens is concerned, I also think  about all those people who are trying to escape tax all the time. All  these people in Greece who are trying to escape tax."

She says she  thinks "equally" about Greeks deprived of public services and Greek  citizens not paying their tax."I think they should also help themselves collectively." Asked how, she replies:  "By all paying their tax.

"Asked if she is essentially saying to the Greeks and others in Europe that they have had a nice time and it is now payback time, she responds: "That's right."

Greek suicide epidemic continues: Debt-strapped pensioner hangs himself

A 61-year-old Greek pensioner has hung himself from a tree in a public park after succumbing to the pressure of crushing debt. A note in his pocket indicates he is merely the latest in a rash of economic crisis-induced suicides.
The pensioner’s lifeless body was found dangling by an attendant in a public park not far from his home in the suburb of Nikaia, Athens. The attendant also found a suicide note in the man’s pocket, The Athens news reports.
The man, identifying himself as Alexandros, said he was a man of few vices who worked all day.”  However, he blamed himself from committing one “horrendous crime”: becoming a professional at the age of 40 and plunging himself into debt. He referred to himself as a 61-year-old idiot who had to pay, hoping his grandchildren would not be born in Greece, as the country’s prospects were so bleak.
Greece will be wiped off the map! Unless of course there was a politician with [Margaret] Thatcher’s balls so as to put us and our state in line,” he lamented.

McUK: Brits scrape for work amid job market squeeze

A fight for a full-time job - Britain's ailing economy and the government's dedication to austerity is forcing many candidates to agree to part-time positions. The result is they toil longer for less pay. RT's Laura Smith reports on their plight. Source

The Liberty Movement takeover

Ron Paul supporters take over the Republicant party! Source

UK Supreme Court backs Assange extradition + Making a Mockery of the Real Crime of Rape

WikiLeaks founder Julian Assange has lost his marathon court battle in UK Supreme Court. The judge has granted him 14 days to make an application to reopen the extradition case.

The Largest Transfer Of Wealth


Militarization of Police

DPS Patrol Vessels equipped with Giant Machine Guns. Source

Waiting For Godot: Existential Eurocrisis Edition

Tyler Durden's picture

 graphic to enlarge:
From JPM's Michael Cembalest  ...Source

John Butler on the Dollar Liability and Gold's role as Insurance

China and Japan are scheduled to start trading in their own currencies Friday. The Japanese Finance Minister came out with this news. This allows traders to trade in Yuan and Yen without first converting them into Dollars. So, we'll talk about what this means for the us dollar: the global reserve currency. Are we headed towars a world where no single currency reigns supreme -- an end to what French President Charles De Gualle famously recognised as America's "exorbitant privilege?"

End Of The Road Film - Just Released

The new film "End Of The Road" has just been released for public viewing, featuring GoldSilver.com CEO Mike Maloney alongside Peter Schiff, Jim Rickards, Jim Puplava, James Turk, Eric Sprott and more. The link for viewing this movie is right here: http://100thmonkeyfilms.com/endoftheroad/watch/