Skip to comments.Merkel Will Press Obama And The Fed To Help Bail Out The Eurozone.
Posted on 09/13/2011 3:15:10 PM PDT by blam
Merkel Will Press Obama And The Fed To Help Bail Out The Eurozone.
Sep. 13, 2011, 4:20 PM
We're at the end of "extend and pretend." The crisis of the Eurozone is now acute. The headlines are specific. The best analysis suggests that only extraordinary action can keep it afloat. And even that would work only to delay the inevitable for a month or two more.
The reality is that the Eurozone no longer offers any good option for continued unity. As an Italian policy-maker told Martin Wolf of the Financial Times, "it would be better to leave (the eurozone) than endure 30 years of pain."
At the center of the storm sits German Chancellor Angela Merkel, who is being told by one and all that she must take extraordinary action to save the day. But the truth is she doesn't have the authority to do so, doesn't have the votes, doesn't have the political throw-weight to over-ride the judicial, legislative and political vetoes. She won't save the day because she can't.
So what does she do?
In the days leading up to the collapse of Lehman Brothers, then French Finance Minister (now IMF Managing Director) Chistine Lagarde told then-Treasury Secretary Hank Paulson that he could not allow Lehman to fail. The ramifications would be catastrophic, she said. She was mostly right.
Three years later, it will be Angela Merkel talking to President Obama,Treasury Secretary Geithner and Federal Reserve Bank Chairman Ben Bernanke with exactly the same message. The United States government and the Federal Reserve must come to the rescue of the Eurozone or the ramifications will be catastrophic. And she will say that she needs roughly $1 trillion in financial guarantees and liquidity support. That's the number that will calm the markets.
(Excerpt) Read more at businessinsider.com ...
OK...I need to ask this.....Where do they propose we get the money?
A Federal Reserve bailout...hmmmm...I wonder how expensive a gallon of gas will be by Christmas.
“Where do they propose we get the money?”
You betcha—hussein will simply print more and/or borrow more from China. Debt and deficit be damned.
Obama is probably rubbing his hands - this could be the nuclear weapon that puts the finishing touches on destroying the USA. Make us responsible for bailing out Greece, etc.
It’s a chilling reminder of Margaret Thatcher’s line that the problem with socialism is that at some point you run out of other people’s money. Obama is gleeful at the prospect of helping make sure that it’s the USA whose money gets blown in the final chapter.
Pass this Bill!
Pass this Bill!
Pass this Bill!
A trillion hear a trillion there. Pretty soon your talking real money. (I’m waiting for the first MSM reference to “quadrillion” since trillion is so common.)
Forget it, Angie.
Let those big puppies breathe, crack open a Jereboam of Riesling, point your recliner towards the Hamptons and enjoy the implosion of the EU.
The B-17’s won’t be able to rescue Germany or the rest of Europe this time.
These jokers need to take a hike. We are broke. We are broke. Who is to say 1 Trillion is enough. There is never enough money for socialism and corporatism!
Please ask the GOP contenders who would support these central planned actions!
This is the October Surprise...One year early.
From Tim Geithner
He has our national credit card and a $2 Trillion
overdraft passed by Congress, and the obama regime and Harry Reid are not likely to be hindered by silly little promises to find spending cuts before raising the debt ceiling
Geithner has been to Europe twice in the past week
Hey, c’mon now.....it’s only one trillion; hell, that’s a pretty good weekend in Dallas, according to USAF Major King Kong!
I hate to say it, but President Obama will likely say, “Okely-dokely” (no offense to Ned Flanders intended).
I think you're right. This would be an enormous weapon for Obama and proof that he doesn't intend to wait 14 months to assure that the US will collapse so he can remake it from the ashes.
Oh God no, help us...fight this man off our money.
Please put that to music or it will be in my head all day!