Infinite Unknown

YouTube Added: 17.09.2012

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Tags: Afghanistan, Africa, Bailout, Banking, Barack Obama, Ben Bernanke, Bonds, Bundesverfassungsgericht, China, Constitution, Debt, Derivatives, Derivatives market, Dictatorship, Drones, Dwight D. Eisenhower, ECB, Economy, Eric Holder, ESM, EU, Europe, Fascism, Fed, Federal Reserve, Food stamps, Gerald Celente, Germany, Global News, Goldman Sachs, Government, Great Depression, Greece, Hyperinflation, Inflation, Internet, Iran, Iraq, Ireland, Islam, Israel, Italy, Law, Lebanon, Libya, Mario Draghi, Military, Mitt Romney, Muammar Gaddafi, NDAA, Obama administration, Pakistan, Politics, Quantitative Easing, Religion, Ron Paul, Rothschild, Society, South Africa, Spain, Sudan, Supreme Court, Syria, U.S., Unemployment, War, WMDs, WW III

And the bailout party goes on (… until there is nohing left).

- Euro, Stocks Climb as German Court Approves Bailout Funds (Bloomberg, Sep 12, 2012)

Tags: Bailout, Bundesverfassungsgericht, Economy, ESM, EU, Euro, Europe, Germany, Stock Market

- Karlsruhe Decision: German Taxpayer Pillage Can Continue (But With EUR190bn Cap) (ZeroHedge, Sep 12, 2012):

UPDATE: EURUSD unsure – but seems like ‘Unlimited’ ECB Bazooka’s trigger (ESM) is now capped at EUR190bn from Germany.The Kardinals of Karlsuhe kame through. As somewhat expected, they declined the complaint that, simply put – and among many other things, the ESM structure (i.e. German payments into it) stretches German constitutionality and can proceed to a broader vote next year – but basically – in a nutshell – there’s no coming back now. As expected there are conditions though – that the market seems perturbed by:

• *GERMAN COURT ALLOWS ESM RATIFICATION WITH CONDITIONS :13347Z US
• *GERMANY MUST SET CAP FOR LIABILITY UNDER ESM WEHEN RATIFYING
• *GERMANY MUST MAKE SURE ITS ESM SHARE IS CAPPED AT EU190 BLN

Limited ESM (primary market) vs Unlimited secondary bond market buying (OMT). Go figure it out Continue reading »

Tags: Bonds, Bundesverfassungsgericht, Debt, ECB, Economy, ESM, Global News, Government, Politics, Supreme Court

- Germany Can Ratify ESM Fund With Conditions, Court Rules (Bloomberg, Sep 12, 2012):

Germany’s top constitutional court rejected efforts to block a permanent euro-area rescue fund, handing a victory to Chancellor Angela Merkel, who championed the 500 billion-euro ($645 billion) bailout facility.

The Federal Constitutional Court in Karlsruhe dismissed motions that sought to block the European Stability Mechanism, while ruling Germany’s 190 billion-euro contribution can’t be increased without legislative approval. The court said Germany can ratify the ESM if it includes binding caveats that it won’t be forced to assume higher liabilities without its consent.

“We are an important step closer to our goal of stabilizing the euro,” German Economy Minister and Vice Chancellor Philipp Roesler told reporters in Berlin after the ruling today. “It has always been the goal of this government” to establish a “clear limit and to include parliament in all important decisions.”

Continue reading »

Tags: Angela Merkel, Bundesverfassungsgericht, Economy, ESM, EU, Europe, Germany, Global News, Supreme Court

- German State Of Saxony Supports Legal Action Against ECB (ZeroHedge, Sep 7, 2012):

Since there have been tens of thousands of lawsuits filed internally in Germany with its constitutional court alleging the ESM is illegal, it was only a matter of time before the Germans decided to sue the ECB as well for its “unlimited” bond buying. The time has arrived. From Bloomberg:

• TILLICH SUPPORTS LEGAL STEPS AGAINST ECB BOND BUYING: WELT
• TILLICH SAYS ECB BOND BUYING SIGNALS EFSF, ESM NOT ENOUGH: WELT
• TILLICH: ECB MANDATE SHOULD NOT INCL. UNLIMIT. BOND BUYING:WELT

Perhaps all those rumors of the Bundesbank’s death were, as we expected, rather exaggerated.

Tags: Bonds, Bundesverfassungsgericht, Debt, ECB, Economy, EU, Europe, Germany, Global News, Government, Mario Draghi, Politics, Quantitative Easing, Saxony-Anhalt

- 18 Indications That Europe Has Become An Economic Black Hole Which Is Going To Suck The Life Out Of The Global Economy (Economic Collapse, Sep 3, 2012):

Summer vacation is over and things are about to get very interesting in Europe.  Most Americans don’t realize this, but much of Europe shuts down for the entire month of August.  I wish we had something similar in the United States.  But now millions of Europeans are returning from their extended family vacations and the fun is about to begin.  During August economic conditions continued to degenerate in Europe, but I figured that it wouldn’t be until after August that the European debt crisis would take center stage once again.  And as I wrote about last week, if there is going to be a financial panic, it typically happens in the fall.  The stock market has seen quite a nice rally over the summer, and many investors are nervous that we could see a significant “correction” very soon.  The month of September has been the absolute worst month for stock performance over the past 50 years, and it has also been the absolute worst month for stock performance over the past 100 years as well.  Of course that does not guarantee that anything is going to happen this year.  But things in Europe continue to get worse.  Unemployment rates are spiking, manufacturing activity is slowing down, housing prices are crashing and major financial institutions are failing.  What is happening in Europe right now appears to be an even worse version of what happened to the United States back in 2008. Continue reading »

Tags: Bank Run, Banking, Bundesverfassungsgericht, Collapse, Debt, ECB, Economy, ESM, EU, Europe, France, GDP, Germany, Global News, Government, Greece, Politics, Real Estate, Society, Spain, Unemployment

Google translation here: The ESM Violates the Law And EU Treaties (Welt, Sep 4, 2012):

The Federal Constitutional Court rules on 12. September on the constitutionality of the European Stability Mechanism (ESM) . The European Court verifies that violates the euro bailout of EU law. The Constitutional Court has already made clear that a new Euro Treaty and further financial support to weaker euro-zone countries do not cancel the Budget Law of the Federal Parliament must.

The ESM can buy directly from euro zone countries to provide them with government bonds or loans. This allowed the ECB officially not the EU Treaty. However, it emphasizes the federal government sees the ESM prior to a cap of 700 billion euros and limited the German share of it applies to “only” 190 billion euros. Apparently reading the Parties from politicians not or do not understand the details. The ESM is clearly illegal.

Original article here: ESM verstößt gegen Gesetz und EU-Verträge (Welt, Sep 4, 2012):

Das Bundesverfassungsgericht urteilt am 12. September über die Verfassungsmäßigkeit des Europäischen Stabilitätsmechanismus (ESM). Auch der Europäische Gerichtshof prüft, ob der Euro-Rettungsschirm gegen EU-Recht verstößt. Das Verfassungsgericht hat bereits klargestellt, dass ein neuer Euro-Vertrag und weitere finanzielle Unterstützung für schwächere Euro-Staaten das Budgetrecht des Bundestages nicht aufheben dürfen.

Der ESM darf direkt von Euro-Zone-Staaten Staatsanleihen aufkaufen oder diesen Kredite gewähren. Dies darf die EZB laut EU-Vertrag offiziell nicht. Allerdings, so betont die Bundesregierung, sieht der ESM eine Haftungsobergrenze von 700 Milliarden Euro vor und begrenzt den deutschen Anteil daran eindeutig auf “nur” 190 Milliarden Euro. Offenbar lasen die Politiker den Vertag nicht oder sie verstehen dessen Details nicht. Der ESM ist eindeutig rechtswidrig.

Tags: Bundesverfassungsgericht, ECB, ESM, EU, Europe, Global News, Government, Politics

More preparations for the greatest financial/economic collapse in (known) world history.

- German Court Reverses Anti-’Nazi-Era’ Military Restrictions (ZeroHedge, Aug 19, 2012):

Late on Friday, the BBC reported that the German military will in future be able to use its weapons on German streets in an extreme situation. This ruling, we hope purely a technicality – but clearly warranting some concern as to ‘why now?’ – by Germany’s Constitutional Court, reverses some of the severe restriction on military deployments that were set down in the German constitution after Nazi-era abuses. After WWII, the new constitution ruled that soldiers could not be deployed with guns at the ready on German soil – the court has now changed that (it seems on the basis of terrorist concerns – as opposed to widespread bank runs, populist revolts at bailout-back-downs, or Hollande/Monti/Draghi sending over some boys).

Tags: Bundesverfassungsgericht, Collapse, Germany, Global News, Government, Law, Military, Politics, Society, Soldiers

Sep. 12 (Bundesverfassungsgericht ruling on the ESM) is the date to watch!!!

Let’s see if Germany walks its talk, because that would mean the end of the euro.

Got physical gold and silver?

See also:

- Greece Now Prints It’s Own Euros, The ECB Approves, The Bundesbank Nods: No One Wants To Get Blamed For Kicking Greece Out

– Germany Has “Reached Its Limit” On Greek Aid (ZeroHedge, Aug 11, 2012):

While Frau Merkel remains beach-bound somewhere, hence the lack of ‘Neins’ recently, her deputy chancellor Michael Fuchs made it unequivocally clear this morning in a Handelsblatt interview that Germany had “reached the limit of its capacity” over additional EFSF payments to Greece and reiterated the double-whammy that the ESM should NOT receive a banking license and that the ECB should NOT act as “money printing press in disguise” by extending emergency loans and bypassing EFSF/ESM. A decision about whether Greece should be given the second tranche of its loan will not be made until October, after the Troika finalizes its first review of the second rescue program in September. However, BNP Paribas notes that there have been a couple of developments worth noting over the past week and more are likely in the coming weeks. Continue reading »

Tags: Angela Merkel, Bundesverfassungsgericht, Debt, EFSF, ESM, EU, Euro, Europe, Germany, Global News, Government, Greece, Michael Fuchs, Politics

- Will A German Constitutional Court Delay Today Cripple The EUphoria? (ZeroHedge, July 10, 2012):

While early news are still abuzz with last night’s largely irrelevant FinMin meeting, which came up with nothing new, but merely regurgitated the June 28 summit decisions in a way to send Peripheral bonds modestly higher, however briefly, the real news this morning will be out of Karlruhe, where the German Constitutional Court – which holds the fate of the European bailout mechanism -  has already said there will be no final decision on the constitutionality issue. The question now is whether the Court will issue a temporary injunction, which however, the court itself admits “will be interpreted by the foreign press as ‘euro-rescue is halted.” Instead, what will likely take place is a two step process. As Market News reports, “Judges during the hearing suggested a two-part decision was likely, first on the injunction in about three weeks, and then in early 2013 on the broader constitutional question.” Obviously, the court is not in any rush to come up with a definitive judgment. The problem is that Spain is. As is Italy: unless the ESM is able to promptly roll out its rescue functionality, the entire bailout mechanism will be halted and all the “progress” achieved so far will be for nothing. Sure enough, “a delay could have “serious economic consequences” for the Eurozone as well as Germany, and in turn would risk placing the entire euro project “in question,” Schaeuble warned.” Yet not even the German FinMin will dare to tell German’s constitutional arbiters to hurry up. Which is why keep a close eye on those Red flashing headlines out of Germany: they can make or break both the Euro, the PIIGS bonds, and broadly risk, if there is indeed a major delay, and certainly, if the court does order an injunction. Continue reading »

Tags: Bundesverfassungsgericht, ESM, EU, Europe, Germany, Global News, Government, Politics