Farage On The Spanish Bailout: “A Reinforcement Of Failure”

While the short-term benefits can be weighed against any long-term solution a number of ways, Nigel Farage provides not just the most colorful summation of situation but also the most succinct when he refers to the ‘madness’ of ‘intervention to keep the Euro alive’ as “reinforcement of failure”. The better, and braver, in his opinion, thing to do, is to recognize that those Mediterranean countries should never have joined the Euro in the first place. As we have stated again and again, by kicking-the-can once again to prop up the euro-zone with bailout-after-bailout, all we are doing is prolonging the misery.

The discussion on Sky News digs into the collateral-damage ‘strawman’ – which will happen anyway – and then ‘Red’ Ken Livingstone (an infamously socialist-leaning British politician who advocated for Britain’s joining the Euro when it was formed) now somewhat notably agrees with Nigel that we are “locking Europe into a decade of permanent economic malaise” adding that once the smaller countries were added to the core, “it was doomed to fail”. The two ‘odd fellows’ continue on to discuss the analogy of the USA to a United States of Europe noting that it took a civil war and a century before a common monetary and fiscal policy was accepted, adding simply that Europe’s “nations will not give up their sovereignty”.

This is How the Spanish Bailout Will Impact Key Markets

from KingWorldNews:

With investors around the world wondering how the $125 billion Spanish bailout will affect trading, today Michael Pento, of Pento Portfolio Strategies, writes exclusively for King World News to let readers know exactly how this bailout will impact key markets. Here is what Pento had to say about the situation: “It was announced this weekend that Spain has requested and will most likely receive $125 billion (100 billion Euros) to recapitalize their banking system. The money for the bailout will be channeled through the Fund for Orderly Bank Restructuring (FROB), whose funds count towards public debt.”
“However, nobody really knows where this money will come from or what the consequence will be from bailing out banks by increasing European sovereign debt levels…”
Michael Pento continues @ KingWorldNews.com

LISTEN NOW – Behind the Scenes, Gold, Key Global Markets and More – Egon von Greyerz

from KingWorldNews:
Egon von Greyerz (EvG): Founder and Managing Partner of Matterhorn Asset Management AG & GoldSwitzerland. Since the 1990s Egon von Greyerz has been actively involved with financial investment activities including Mergers and Acquisitions and Asset allocation consultancy for private family funds. This led to the creation of Matterhorn Asset Management -MAM an asset management company based on wealth preservation principles. MAM is part of the Aquila Group, Switzerland’s largest independent asset management group. EvG makes regular media appearances on CNBC, BBC, etc. and publishes articles on the world economy and wealth preservation.
Listen Now @ KingWorldNews.com

It Only Took A Global Depression To Reduce Gas Prices By 40 Cents

You can’t watch the mainstream media propaganda channels for more than ten minutes without a talking head breathlessly announcing that gas prices have dropped for the 24th day in a row and are now back to $3.55 a gallon. Wall Street oil analysts, who are paid hundreds of thousands of dollars per year to tell us why prices rose or fell after the fact, are paraded on CNBC to proclaim the huge consumer windfall from the drop in price. This is just another episode of a never ending reality show, designed to keep the average American sedated so they’ll continue to spend money they don’t have buying crap they don’t need. The brainless twits that pass for journalists in the corporate mainstream media never give the viewer or reader any historical context to judge the true impact of the price increase or decrease. The government agencies promoting the storyline of those in power extrapolate the current trend and ignore the basic facts of supply, demand, price and peak oil. The EIA is now predicting further drops in prices. Two months ago they predicted steadily rising prices through the summer. What would we do without these government drones guiding us?




Daily Readers... You knew this 3 years ago... 

The Derivatives NIGHTMARE: A Fraud Far Beyond Fractional Reserve Banking

Greetings friends. Here’s my new interview with author David Quintieri about the Derivatives nightmare, which is a blatant Wall Street fraud that goes far beyond the fraud of fractional reserve banking. Derivatives are the titanic of the world’s financial system and we have already hit the iceberg. With more than $1,000 Trillion in outstanding Derivatives worldwide, the system cannot be “unwound” and it’s impossible to save.

part 2

The Politics of “Consensus” Is the Politics of Failure

by Charles Hugh Smith, Of Two Minds:
Persuading those in power to limit their power via “consensus” doesn’t work.
Both the legal system and the horse-trading politics of “consensus” have failed.
How do you get “consensus” in politics? You horse-trade. You give everybody something they want. You cut everyone into the deal. That passes for “consensus” in politics: divide the swag.
If you want to understand President Obama’s failure as a leader, ask (as my friend G.F.B. did)
where did he learn politics? In Chicago. Big-city politics boils down to getting
the ward bosses, ethnic-neighborhood leaders, Chamber of Commerce and
public unions together and making them all happy with concessions, give-aways or some
other slice of swag so they all agree to to support some minor policy tweak of the Status Quo.
Read More @ OfTwoMinds.com

Silver Update 6/10/12 Ron Paul

from BrotherJohnF:

Madrid Is This Week’s Eurobailout Winner

by Rick Ackerman, Rick Ackerman.com:
Another eurobailout, this time for Spain. Here’s how two politically useful idiots who cover business news for the Associated Press – Paul Wiseman and Peter Svensson — saw it, abetted by just the right quote from a third:  ”This move will come as a relief to the Obama administration as it suggests that European leaders are finally beginning to take significant actions to ease the intensifying pressure on the euro zone’s peripheral economies” such as Spain and Portugal,” said Eswar Prasad, professor of trade policy at Cornell University. Finally?  All three of these guys must have missed the news a few months ago that a trillion euros’ worth of  no-strings credit – about ten times the amount extended to Spain over the weekend – was put at the disposal of Europe’s commercial banks. But to do what?  Hey, let’s not be impertinent! Don’t ask, don’t tell has become the omerta of the global banking system and its news-media lackeys.
Read More @ RickAckerman.com

German Born Woman: “Hitler and Obama are the same” – and First-hand Perspective of Hyperinflation

from webcityusa:

At the Peter Schiff seminar at the Moneyshow 2012 Las Vegas, a WW2 survivor from Germany approached Peter to say she has firsthand knowledge of the currency collapse in Germany. Today seems like a repeat of what she experienced as a German child. She makes comparison of Obama to Hitler government and says the currency collapse happened quickly., A bank run could happen again if people dont put their assets in hard currencies like gold and silver.

First, We Kill All of the Lawyers

by V. Trotter, Chink in the Armor:
So said Dick the Butcher in Shakespeare’s Henry the Sixth. He was part of the rabble supporting Jack Cade who was fomenting rebellion against a despotic King. The scene is thought to refer to the Peasant’s Revolt of 1381 where the serfs marched upon the King to demand reforms. It was a classic case of thems on the bottom finally getting sick and tired of the antics of thems on top to maintain their control and thems on the bottom finally doing something about it. The actual words are an acknowledgement of the complaint that it was lawyerly trickery which kept thems on the bottom on the bottom. Nothing has changed in the intervening 629 years. The technology is a little different, but nothing has changed.
In her Friday blog, Abigail Fields points out that it is the lawyers who put together the machinery which is tearing apart the country. It is the hired guns who come in and craft documents and create systems which claim to do one thing when in reality it becomes yet one more bar in the prison grid of our lives.
Everyone who studies the chaos the banking system has thrust upon the country knows that the people who are supposed to protect us from their rapacious greed won’t. The SEC is a joke. The AG settlement is a pathetic attempt by the states to use the AG’s to extort money from the banks to balance this year’s budget. This year’s. Nothing about next.
Read More @ ChinkintheArmor.net

Amazing Day For Ron Paul In Arkansas!!!

from Matlarson10:

“The Euro Is Like a Knife in the Hands of a Child”

from Testosterone Pit.com:

While France is preoccupied with the legislative elections next weekend, Germany and Austria plunge into intense public soul searching about the euro, its meaning, its relevancy, the sheer and endlessly growing expense of maintaining it. To which are now added the $125 billion for bailing out Spain, the first in a series as Greece and others have shown: the bailout to solve the problem once and for all proves insufficient and is followed by more bailouts. Spain won’t be an exception. And then there’s Italy.
And yet, the German-language media scream about the expense of abandoning the euro. They call it the crazy option of returning to the D-Mark and warn of gigantic losses. But the very fact these discussions appear on the front pages of established newspapers moves the option a step closer to reality. Because, once the debate is opened up—and it’s a big can crammed with ugly worms—it’ll be difficult for governments to sweep all these worms under the rug and to revert to the con-game.
Read More @ TestosteronePit.com

Silver Commentary – The Two Worlds of 2012

by Jeff Nielson, Bullion Bulls Canada:
Providing coherent economic analysis has become a nearly impossible task. By definition, “coherent” implies something which “holds together”. Conversely, this analysis is being produced in a world with a mainstream media which is (at the least) bipolar – if not simply schizophrenic.
There are two dominant economic trends in the world today: exponentially increasing money-printing; and extreme, hopeless insolvency. Yet despite the fact that these two trends are extremely closely connected, we have the bipolar media reporting on them, and “analyzing” them as if these trends were occurring on separate worlds.
Read More @ BullionBullsCanada.com

Maximum Amount EU to offer for Spain Bank Bail out is € 100 Billion

from John Galt FLA:
Per breaking news in El Confidencial in Spain, the maximum amount that Brussels will authorize is € 100,000 million (€ 100 billion) which means that Spain will be left on their own to fund any future or additional bail outs for their banking system. From the article translated using Google Translate(original in Spanish at this link):

The total amount of the ransom to Spain could amount to 100,000 million euros, according to sources at The Confidential financial and community sources confirm to various international media. This figure is the “ceiling” of a line of credit that would provide the Spanish Government, but finally could use a lower figure. The request could occur today at the Eurogroup meeting, according to sources, but may also be delayed a few days. The sources added that this rescue impodrá macroeconomic conditions beyond pure financial sector.
Read More @ JohnGaltFLA.com

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