Archive - Jun 9, 2012 - Blog entry

The spigot is schtuck!

"We already knew the ESFS and ESM would lend Spain money, the question is in what manner?"

DON'T Waste Any Time Reading This ... Unless You're Afraid

FTW...

In Bankia’s case all of this culminated in the bank receiving a €19 billion Euro bailout, the largest in Spain’s history. And for certain this amount of money will be increased dramatically: Bankia’s loan book is roughly €200 billion in size (1/5^th the size of Spain’s GDP) and I can assure you a major chunk of this is total and complete garbage. That’s not the problem however. The REAL problem is that Spain itself is broke and doesn’t have the money to prop this bank up…

“Humiliation,” the French media called Hollande’s defeat.

A D.C. report card.

The First Amendment Foundation has moved to intervene in the case of HSBC Bank USA v. Abby Lopez for the limited purpose of opposing closure of judicial records and proceedings.

Discussed: Gold, Silver, ZIRP, Swaps, US Dollar, Fort Knox, GLD, SLV, COMEX, and More.

Société Générale head of foreign exchange research Kit Juckes on the US dollar dynamic, QE 3, 4, and 5, "even lower rates for even longer than you thought," and the Bank of Japan slowly learning to match policies with the Fed.