It's Your Choice, Europe: Rebel Against the Banks or Accept Debt-Serfdom

Let the banks implode in bankruptcy, clear the worthless "assets" of debt from the books, and let the market price currencies and everything else. The only other choice is debt-serfdom. All the other schemes and proposals are simply variations of one single fantasy: that the feckless leadership can fool the repricing genie with parlor tricks. They can't. Everybody with any understanding of the situation knows that the debt bubble has already burst, an risk and debt cannot be repriced back to fantasy levels. That repricing has already occurred, and cannot be revoked or shoved back in the bottle. The Great European Debt Bubble has already burst, and so now it boils down to a simple choice: debt serfom or open rebellion against the banks that profited so handsomely from the euro-fantasy. There is no middle ground, as the debt cannot be repaid, not now and not in the future. It cannot be reshuffled, masked, or hidden; it can only be renounced. It's your choice, Europe; choose wisely. If you want a model for sanity and growth, look to Iceland. They renounced their unpayable debts and debt-serfdom, and let the market reprice their currency, debt and risk. The nightmare is past for them; they chose wisely. Now it's your turn to choose. The debt-serfdom will fall to you, not the banks or your Elites.

Gerald Celente: ‘IT’S FASCIST. CAN’T YOU SEE IT?” [SGTreport Exclusive]

EUR and Commodity Strength Supports Modestly Positive ES Open

While EURUSD is off its highs of the evening so far, it remains 20-30pips higher and is mildly supportive (given EURJPY and also AUDJPY's moves) of the 7pt better open in ES (the e-mini S&P 500 futures contract). The Italian austerity measures seem the main driver which is odd given this is not news and was fully expected. Oil is also popping (above $101.50 now), on the Iran news we assume, and Gold is above $1750 as Silver outperforms +0.8% from Friday's close.

Banksters Own You!

 

 

The Tiny Dot: Them vs. US

 

 

Ron Paul: Newt Gingrich Is Part of the Problem; He Lives off the Government and the People

 

 

Iowa Poll: Ron Paul in 2nd… NWO Hack Gingrich Leads?

Here Are The Next Steps In The Escalating Middle East

While everyone is focusing on what empty words and promises will come out of Europe this week which continues to valiantly, yet with utter futility, fight simple math, our friends at Religare Research remind us that there is a whole another theater of operations (pardon the phrase) that many are so far forgetting about located in the middle east which is far closer to what at the end of the day really matters: oil. As Emad Mostaque notes: 'While North Africa is busily transitioning to a set of neo-Islamist, GCC-sponsored Sunni democracies (we are positive on this trend), Shia groups in the Middle East have started to stir. In this monthly we focus on some of the key elements of the Shia tradition that may have a significant impact on global markets in the near future." Below are the key takeaways.

No, Dylan Grice Did Not Say Germany's Unwillingness To Print May Lead To The Rise Of Another Hitler

A few weeks ago, SocGen's Dylan Grice released a piece which quickly became a scathing focal point in the inflation-deflation debate, in that he speculated that it was not the Weimar-unleashed hyperinflation (which incidentally is the primary reason why most Germany now dread what the outcome of a profligate ECB would look like) that led to the surge of the Nazi party, but in fact the opposite: the stinginess of German monetary authorities in the 1930s that further exacerbated the situation and helped unleash the Hitler juggernaut. Many promptly took sides in the argument, the bulk of which were shocked that Grice - traditionally a defender of prudent monetary and fiscal policy, would go so far as suggest that it is the ECB's duty to print or else it may justify another "Hitler"-type advent. Well it seems there was more than meets the eye, and in a follow up piece the strategist says: "The purpose of the historical analysis, therefore, was not to reach conclusions about how adherence to hard money principles will linearly lead to resurgent fascism, or war on a par with that seen in the 1930s. Neither was it in any way a defence of Keynesian fiscal activism. It was to illustrate that adherence to even the best principles must come at a price, making a judgment on whether or not that price is prohibitive or not is unavoidable, and today Germany and the ECB have to make that judgment." And his conclusion: "From the beginning of this crisis I've believed the only way politicians will get ahead of it is to bring in the ECB. Since I believe politicians do want to get ahead of it, I expect the ECB to print, and print copiously. I've repeatedly emphasized that printing will solve nothing, beyond buying market confidence for a while... All ECB printing will do is buy the politicians time and space to reset government and private sector balance sheets, to reform how their economies function and be honest with their own citizens. Whether they use that time or not is a separate question (frankly, I'm not hopeful)." But instead of us putting words in Grice's mouth, here is the explanation straight from the horse's mouth. Incidentally we agree 100% with Grice on the issue that eventual printing is inevitable. Which for the TLDR crowd means the entire Grice missive can be summarized as follows: 'buy gold.'

Living Under Banker Corporate Occupation

Gary Gensler: A U-Boat Sent into the CFTC?
Washington D.C. is filled with souless hacks.  Such men and women reduce themselves to be nothing more than instruments of others. 




US Debt/GDP Hits Post WW2 High 99.5% Following $55 Billion Overnight Debt Increase: Total Debt Now Over $15.1 Trillion


 
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Contagion Catastrophe: Europe is closer than you think to bringing down the American—and, therefore, the global—economy.



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American Airlines Files Bankruptcy



Two Possible Outcomes For The European End Game



Central Bank Action:  Stunning Move Highlights Sense Of Desperation



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