Spanish "Bad Bank" Fairy Tales  Tyler Durden's picture    The
Lords of Chaos are The enemies of Logic, The jugglers of Truth
 -Michael Moorcock Whether it be the plains of Asgard, the
fields of Mordor, the yellow brick road in Oz; I can recognize
and appreciate fantasy. I take delight in meandering off in my
mind when emerging myself in one of these pieces of fiction.
This morning I can share with you that a new and quite
imaginative fairy tale has been told and it has been spun by the
government of Spain. Spain, as you know, and no matter how the
story is fabricated, was bailed out by the European Union. The
money was lent to the banks so that Spain does not have to count
it as sovereign debt even though the country guaranteed the
loans. A nod to magicians and the clever use of a sleight of
hand trick but the truth is readily apparent. Then, having
mastered that trick they are on to new and grander schemes.
Madrid tells the truth in the same manner as a sardine naturally
climbs mountains. If t