Trichet Declares War in [Market-Ticker]

Posted 2012-05-18 10:05
by Karl Denninger
in International

Trichet Declares War

This is an open declaration of war folks:

Europe could strengthen its monetary union by giving European politicians the power to declare a sovereign state bankrupt and take over its fiscal policy, the former head of the European Central Bank said on Thursday in unveiling a bold proposal to salvage the euro.

That's an open declaration of war and should be responded to in kind.

There is no power superior to that of the budget within a nation. None.

If other nations and firms don't like a government's expression of their sovereign power in the form of their budget they have the right to refuse to lend to it. But there is no claim one can make on a sovereign's budget on a forcible basis -- that is functionally identical to an invasion.

Trichet has just invited a shooting war in Europe, and I predict that if this sort of meme spreads he's going to get exactly that.

Discussion below (registration required to post)

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User Info	Trichet Declares War in forum [Market-Ticker]
Truthseeker Posts: 8474 Incept: 2007-10-07 NorCal	My reading exactly, Karl. There is only one way to respond to this "suggestion"! ---------- "...But people better realize that the worst-case scenario could actually happen.9/11 happened. This can happen. An economic 9/11, the likes of which we've never seen." Gerald Celente 2012-05-18 10:07:51 Permalink
Leicestersq Posts: 221 Incept: 2009-10-12 UK	Two rules to be a state. 1) You have to be able to defend yourself. 2) You have to be able to finance yourself. If you fail to do both, you will be replaced by a state that can. 2012-05-18 10:13:33 Permalink
Drench Posts: 28631 Incept: 2009-11-10	Ni Hao, Leicestersq 2012-05-18 10:18:17 Permalink
Visualcsharp Posts: 343 Incept: 2009-12-19 Round Rock, TX	It's unbelievable, and yet not, that such things are now being suggested openly and with such a casual air. Of course, many of us have known for years that this was inevitable and, indeed, the true goal of such men. 2012-05-18 10:29:43 Permalink
Tsberts Posts: 2350 Incept: 2008-02-05 Minnesota	Oh, the delicious irony, the Frenchman looking for a fight. Of course, I imagine that he's anticipates the rest of the EU is willing to stand on the firing line in front of him... ---------- Photoguy was an optimist. In Soviet Russia, the banks are run by the politicians. The cancer within the federal government has metastasized, it's now up to each of the states to contain the cancer. 2012-05-18 10:50:07 Permalink
Docj Posts: 998 Incept: 2009-09-10 Duck & Cover	The ECB declaring someone bankrupt (which seems to me to be stating the obvious) would pretty much a moot point if these "states" (who are now really just wards of the central bankster cartel) were able to finance their existance without the use of never-decreasing debt, no? I'm not saying that these "states" need to stand for it and yes, indeed, this is an open invitation for someone to start going all 1797. History never repeating exactly, but always rhyming, of course. ---------- The preservation of liberty depends upon the intellectual and moral character of the people. As long as knowledge and virtue are diffused generally among the body of a nation it is impossible they should be enslaved. - John Adams 2012-05-18 10:51:47 Permalink
Winstonsmith2009 Posts: 1060 Incept: 2009-08-05	"Trichet has just invited a shooting war in Europe, and I predict that if this sort of meme spreads he's going to get exactly that." Since all of the non-representative (of the people) governments in Europe are effectively owned by the same economic sectors, it won't be wars between states at first, it will be people rising up within states to overthrow their own governments if necessary _if and when_ they actually understated what's going on. After the civil wars are over, inter-state wars then become possible. That's my take on it, anyway. 2012-05-18 10:52:00 Permalink
Frat Posts: 1935 Incept: 2009-07-15 NKY	Who needs tv when you've got this kind of entertainment? Too bad it's REAL people that will be damaged by it. ---------- We're ***ed. Where's Henry Bowman when you need him? 2012-05-18 10:57:54 From PDA* Permalink
Antediluvian Posts: 577 Incept: 2008-03-14 Kirkland, WA	Yeah, let's just make Europe one big country. Oh and we'll let the Germans and or French run it. Sounds good. Yep. You would think they would at least a hundred years before trying it again. http://en.wikipedia.org/wiki/List_of_con.... ---------- Socialism was embraced by the greater part of the intelligentsia as the apparent heir of the liberal tradition: therefore it is not surprising that to them the idea of socialism's leading to the opposite of liberty should appear inconceivable. - F.A.Hayek, "Road to Serfdom" 1944 Last modified: 2012-05-18 11:01:08 by antediluvian Reason: 2012-05-18 11:00:34 Permalink
Oldpool Posts: 873 Incept: 2010-06-23 LI NY	It's Archduke Ferdinand time! ---------- Liberty, Comrade! 2012-05-18 11:05:49 Permalink
Grf Posts: 1337 Incept: 2008-12-08	I have said for years that the only way out for the EU is to get rid of member state sovereignty. They will hem and haw and kick the can but an EU superstate is the only way this ends. ---------- "Every time we on TF talk about God and gays, God frees a banker and gives him a bonus." --me "Your farts are interstate commerce and if they want to stick a muffler up your ass they will do it." --Boughtthefarm 2012-05-18 11:12:24 Permalink
Lemonaid Posts: 9879 Incept: 2008-01-20 Metro Detroit	Riot Dog is ready to fight ! ---------- "There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved." Ludwig von Mises 2012-05-18 11:16:08 From PDA Permalink
Winstonsmith2009 Posts: 1060 Incept: 2009-08-05	From a recent Daily Show: Who would have thought that the key to German domination would be an international banking conspiracy? Jon Stewart I and his audience got quite a laugh from that. 2012-05-18 11:34:50 Permalink
Wakeupcall Posts: 4232 Incept: 2009-06-08 Hampton Roads, VA	An EU superstate is how they want it to end; but I doubt that would ever happen. Its one thing if you have an homogenous population, similar in language, economics, history, religion, values etc... But that is not the case with Europe. This experiment has been doomed from the start. The only question now is how many die & will the bankers and financiers get out unscathed? ---------- Nothing travels faster than the speed of light, with the possible exception of bad news, which obeys its own special laws. 2012-05-18 12:10:08 Permalink
Tank Posts: 440 Incept: 2007-12-14 Seattle Area	Interesting post at ZH http://www.zerohedge.com/contributed/201....: Phoenix Capital Research wrote.. Make no mistake, the situation in Europe is bad... How BAD? Well, France, Spain, and Germany have ALL implemented border controls. That's not a typo. Spain, France, and Germany can each close their borders for up to 30 days at any point if they so choose. Why are they doing this? Because they know that when the stuff hits the fan and the EU collapses (which it will in the next few months) people are going to attempt to flee with their money... so they have made it so that no one can get it... and no one can get out. ---------- "A danger foreseen is half avoided." -Thomas Fuller (1608-1661) 2012-05-18 12:12:35 Permalink
Preidt2 Posts: 552 Incept: 2009-07-31 spokane/wash	the numb nuts still believe the benny lie that more DEBT WILL FIX things,my numbs hurt ---------- Puppets Under Destruction 2012-05-18 12:19:46 Permalink
Gen_maximus57 Posts: 4580 Incept: 2007-09-03 Tampa	Pre They "don't" believe debt will fix anything just to enable them to earn a few more Euros a while longer. It's not about fixing anything, it's just about dragging it out and skimming off the top. 2012-05-18 12:54:42 Permalink
Risingcream Posts: 4406 Incept: 2007-09-07	How do the people in Europe currently feel about being a citizen of their country vs a citizen of the EU? The sentiment was obvious 70 years ago but what about today? ---------- Civilization...ancient and wicked. --Subotai The distance between insanity and genius is measured only by success 2012-05-18 12:56:56 Permalink
Perramas Posts: 54 Incept: 2011-01-24	Greece last September signed a defense pact with Israel. This could get real interesting as interesting as it did in the summer of 1914. http://www.jta.org/news/article/2011/09/.... ---------- Assassination, Attack, Domestic security, Drill, Exercise, Cops, Law enforcement, Authorities, Disater assistance, Disaster management, DNDO, National prepardness, Mitigation, Prevention, Response, Recovery, Dirty bomb, Swat, Threat 2012-05-18 13:01:17 Permalink
Mannfm11 Posts: 3537 Incept: 2009-02-28 DFW, Tx	I don't believe they are armed well enough to have a shooting war and the bankers own the politicians. I vote terrorism. ---------- The only function of economic forecasting is to make astrology look respectable.---John Kenneth Galbraith 2012-05-18 13:32:58 Permalink
Ribbit Posts: 1780 Incept: 2007-09-10 Wales, UK	Well, I think Greece has enough to set Trichet's arse on fire Mannfm? http://www.globalfirepower.com/country-m.... Haven't they added rather a lot of quite nice tanks since then too? PS. I think there's something rather admirable in the blood/spirit/whatever of the Greek People, and the Egyptians held them in the deepest affection and respect. As an Egyptian scribe told Solon: "Many great and wonderful deeds are recorded of your state in our histories. But one of them exceeds all the rest in greatness and valour. For these histories tell of a mighty power which unprovoked made an expedition against the whole of Europe and Asia, and to which your city put an end. " I think Mr Trichet and his equally scumbag accomplices, provoke that at their peril. ---------- If the State was a Nanny, it would have been fired for incompetence, unreliability, and having its hands in the till, a very long time ago now. Last modified: 2012-05-18 13:44:55 by ribbit 2012-05-18 13:35:57 Permalink
Bagbalm Posts: 4254 Incept: 2009-03-19 Just North of Detroit	Well the original 13 colonies THOUGHT they were remaining sovereign states when they formed the US. THESE United States became THE United States. And then there was Lincoln... The Europeans had all of history to instruct them. 2012-05-18 13:36:52 Permalink
Widgeon Posts: 13481 Incept: 2007-08-30 Region formerly known as the United States	How many tanks does the ECB field? 2012-05-18 16:53:30 Permalink
5755hsa Posts: 643 Incept: 2008-09-07 North of 40 in the land of pathetic highways	Ya Voll Heir Trichet !!! "Europe could strengthen its monetary union by giving European politicians the power to declare a sovereign state bankrupt and take over its fiscal policy" He's grasping at straws ..... he is out of bullets........ GL with that one Trichet... ---------- Ineptocracy (in-ep-toc'-ra-cy) - a system of government where the least capable to lead are elected by the least capable of producing, and where members of society least likely to succeed, are rewarded with goods paid for by the confiscated wealth of a diminishing number of producers. 2012-05-18 17:20:04 Permalink

Phoenix Capital Research wrote..