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Things That Make You Go Hmmm…. Such As An Empty Box Filled With Promises Of Money, And Europe’s Soup Nazi

Posted By admin On October 30, 2011 @ 4:05 am In Money Watch | Comments Disabled

Zero Hedge [1]
October 30, 2011

Some amusing weekend observations from TTMYGH’s Grant Williams: “The EFSF is basically an empty box filled with promises of money – many of them from the very people who are most likely to need to borrow that same money.

Should they need to borrow the money, they won’t be able to make good on their promises so there will be less money for them to borrow. Now the brain trust running Europe have decided, in their collective wisdom, to apply leverage to the non-existent money in the empty box that they have yet to actually borrow, so it can backstop even more of the hundreds of billions of Euros of sovereign debt issued by countries whose finances are in such dire straits that they either require the kind of robust growth that is hardly likely to materialize any time soon or the forgiveness by the holders of that debt of a large part of it….

Of course, granting Greece the package they did this past week, the Eurocrats have rather incredibly found yet another corner into which to back themselves.

You can hardly champion the ‘One Europe’ manifesto on the one hand but then, as the next country lines up at the counter, declare “No soup for you!” – but that seems to be the ‘plan’ at this stage.”

Full report:

Hmmm October 30 2011 [2]


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URLs in this post:

[1] Zero Hedge: http://www.zerohedge.com/news/things-make-you-go-hmmm-such-empty-box-filled-promises-money-and-europes-soup-nazi

[2] Hmmm October 30 2011: http://www.scribd.com/doc/70845912

[3] Empty Promises: 5 Reasons Why Barack Obama’s State Of The Union Address Was Completely Wrong About The Economy: http://www.prisonplanet.com/empty-promises-5-reasons-why-barack-obama%e2%80%99s-state-of-the-union-address-was-completely-wrong-about-the-economy.html

[4] Obama Makes More Empty Promises … Lays Groundwork for Expanded Warfare: http://www.prisonplanet.com/obama-makes-more-empty-promises-%e2%80%a6-lays-groundwork-for-expanded-warfare.html

[5] Obama Buys Votes With Cheap Phones and Empty Promises: http://www.prisonplanet.com/obama-buys-votes-with-cheap-phones-and-empty-promises.html

[6] Greek President (And Nazi Resistance Fighter) Lashes Out At “German Boot” For Pushing Country To The Brink: http://www.prisonplanet.com/greek-president-and-nazi-resistance-fighter-lashes-out-at-german-boot-for-pushing-country-to-the-brink.html

[7] Greece Launches Rent-A-Cop To Fill Empty Public Servant Coffers: http://www.prisonplanet.com/greece-launches-rent-a-cop-to-fill-empty-public-servant-coffers.html

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