The Cold War In The European Core: Luxembourg Wants Eurozone Bonds; Germany Says Drop Dead

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Mon, 12/06/2010 - 09:01 | 781606 Mercury
Mercury's picture

LUX to GER: If you guys could just give us more control over your wallet, that would be great.

And I'm going to need that on my desk by Monday morning...Ummmm-Kaaaaaay?

So what's the thinking here? - although Germans are getting sick of bailing out weaker EU members after they go belly up, they shouldn't have a problem with being on the hook for the debt of others' the moment it's issued?

Mon, 12/06/2010 - 09:10 | 781629 hugovanderbubble
hugovanderbubble's picture

This is one example of the market manipulation made by the Central Banks... Time to fight´em

http://www.xtranormal.com/watch/7932373/

They are trapped:)

Mon, 12/06/2010 - 17:13 | 783338 M.B. Drapier
M.B. Drapier's picture

I don't like EUbonds and fiscal union any more than most Germans, but under the present arrangement Germany is being bailed out by weaker EU members.

Mon, 12/06/2010 - 08:54 | 781612 squexx
squexx's picture

2 Euro zones, Northern Euro including Germany, the Nordic countries with participation by Russia. A Southern Euro, mostly PIIGS countries. France could go either way.

Mon, 12/06/2010 - 09:08 | 781626 Mercury
Mercury's picture

[insert tasteless joke about the French here]

Mon, 12/06/2010 - 09:17 | 781642 Shameful
Shameful's picture

Why?  Why would the nations decide to use a 2 Euro system after the one Euro system fails?  Will Germany really think that A Nordic euro is in their interest more then a new DMark?  Will the PIIGS really want to be tied to each other rather then to go back to their devaluation ways?

From over here it looks like if the Euro fails then the nations will go to national currencies.  Fool me once shame on you, fool me twice shame on me.

Mon, 12/06/2010 - 08:53 | 781613 morph
morph's picture

Waits for Sovereign CDO's rated at AAA consisting of 99% Greek and Irish bonds and 0.1% German with a random mix of the rest to fill the tiny gap.

Mon, 12/06/2010 - 08:54 | 781614 unum mountaineer
unum mountaineer's picture

OT: you've been up alln ight haven't you TD?  watching and waiting for Ag to cross over that $30 mark.  It's like $3 gas psych-wise.

mean while; http://www.businessweek.com/news/2010-12-06/copper-stockpiles-slumping-m...

maybe i'll go down to my bank tomorrow and withdraw $200 and ask for it in nickels..nah, that shit'll be too heavy to carry

Mon, 12/06/2010 - 08:57 | 781618 Crisismode
Crisismode's picture

TD was up all night trying to recover from watching that cathartic interview with the Bernank the Skank.

Mon, 12/06/2010 - 08:56 | 781617 squexx
squexx's picture

The 7th is going to be an interesting day!

Mon, 12/06/2010 - 09:09 | 781627 Shameful
Shameful's picture

Smooth, and of course a central bond mechanism will invariably lead to a central treasury that will set the taxes and budgets in the member states.  The centralization of power leads to the further centralization of power.

Mon, 12/06/2010 - 09:11 | 781630 Azannoth
Azannoth's picture

Long live Angie !

Mon, 12/06/2010 - 09:12 | 781634 duo
duo's picture

I say the 7th and 8th are mini stock crashes to scare money back into bonds.  GS just went bullish on the economy, which means they're short again (like '08).  The Bernank can blame the Europeans for crashing the market.

I don't think the EE can crash metals without crashing the market as well, and this may be the week.  Gotta keep silver under $32.

Mon, 12/06/2010 - 09:13 | 781635 hugovanderbubble
hugovanderbubble's picture

Look Spanish Banks.... -3%

Mon, 12/06/2010 - 09:15 | 781640 mick_richfield
mick_richfield's picture

Mick to WilliamBanzai7 --

There is only one man in the world who can save the European Experiment -- who can make the serfs^H^H^H^H  voters understand the the Experiment in the way that it truly deserves to be understood. 

That man is Saeed al-Sahaf, the former Iraqi Information Minister!

And if he is not immediately available, I'm thinking that only WB7 can simulate him with the style, tact, and grace that both the InfoMin and the EuroEx truly and richly deserve.

Just sayin.

------------------------------------ Mick .

 

Mon, 12/06/2010 - 09:18 | 781645 edmondantes
edmondantes's picture

The German public have always struck me as particularly obedient lemmings... who fall over themselves to tug their forelocks at the first mention of European brotherhood, solidarity, fraternity.... they can be persuaded to go along with even the most absurd policies...

the UK public are equally stupid (though less polite) viz the total lack of reaction to putting up £7bn for the disgraceful Irish 'rescue'

These credulous fools will be slaughtered by the thieving conniving coterie of (mostly French) crooks in Brussels

Mon, 12/06/2010 - 09:46 | 781682 BeeTee
BeeTee's picture

What are you talking about?  This is great for the Brits.

They put up 7 billion sterling and safeguard 150 billion EURGBP bank loans.

Seems like a win-win to me.

Mon, 12/06/2010 - 09:23 | 781655 David99
David99's picture

China is going to raise interest rate by 0.25 basis points this week, metals down

Mon, 12/06/2010 - 09:26 | 781660 knukles
knukles's picture

In for a penny, in for a pounding.

Mon, 12/06/2010 - 09:30 | 781662 gloomboomdoom
gloomboomdoom's picture

Stanley Fischer (Bernanke's mentor) head of ISraeli CB.

"He became Governor of the Bank of Israel on May 1, 2005, replacing David Klein, who ended his term on January 16, 2005. Fischer became an Israeli citizen, the aforementioned action being a prerequisite to this appointment. He has been involved in the past with the Bank of Israel, having served as an American government adviser to Israel's economic stabilization program in 1985. On May 2, 2010, Fischer was sworn in for a second term."

Fischer has earned plaudits across the board for his handling of the Israeli economy in the aftermath of the global financial crisis. In September 2009, the Bank of Israel was the first bank in the developed world to raise its interest rates.

Bernanke was educated at East Elementary, J. V. Martin Junior High, and Dillon High School, where he was class valedictorian and played saxophone in the marching band.[18] Since his high school did not offer calculus, he learned it on his own.[19][20] Bernanke achieved a SAT[19][21] Bernanke attended Harvard University, where he lived in Winthrop House and graduated with a B.A. in economics score of 1590 out of 1600.summa cum laude in 1975. He received his Ph.D. in economics from the Massachusetts Institute of Technology in 1979. His thesis was named "Long-term commitments, dynamic optimization, and the business cycle" and his thesis adviser was Stanley Fischer.http://en.wikipedia.org/wiki/Ben_Bernanke - cite_note-21

--------------------------------------

Mike Pence (friend of Israel) is attempting to "modify" the FED mandate to ignore FULL EMPLOYMENT!!! HELLO!

http://mikepence.house.gov/index.php?option=com_content&task=view&id=437...

Once inflation gets above 2%, interest rates go up, dollar goes up, gold collapses. Got it?

Fed Charter expires in 2012. (Think that might be renewed in Bill's Fine Print)

Ron Paul isn't going to get anywhere, thanks :)

Warren Buffett is correct.

No double-dip recession. No Hyper-Inflation Either.

(Unless you can convince enough people no intrinsic value exisists between a 1-note and a 100-note) GOOD LUCK, folks.

No money printing is going on. I have never seen a Federal Reserve note with Timothy Geithner's name on it. Stops at Paulson.

 

 

Mon, 12/06/2010 - 09:42 | 781669 taraxias
taraxias's picture

Really !?!?

Interest rates go up = banks go boom again and we're back where we started.

It ain't happening, period.

Gold has got TheBernank by the throat this time, those betting for a gold price crash any time soon are on the wrong side of the trade.

Got it???

Mon, 12/06/2010 - 09:48 | 781687 unum mountaineer
unum mountaineer's picture

No double-dip recession. No Hyper-Inflation Either.

Once inflation gets above 2%, interest rates go up, dollar goes up, gold collapses. Got it?

exactly, it's a depression. and i absolutely love how people still look at a government chart with it's officialdom bullshit and believe there is no inflation when it doesn't even care to measure the stuff you need to live..yeah, inflation reads are the fake tits on this VD-ed abomination.

Mon, 12/06/2010 - 11:25 | 781955 CrashisOptimistic
CrashisOptimistic's picture

Don't you need housing to live?  You got a housing boom in your area?

Mon, 12/06/2010 - 10:44 | 781837 TheSettler
TheSettler's picture

I have a $100 right here signed by one Timothy Geithner

Mon, 12/06/2010 - 13:57 | 782597 jmc8888
jmc8888's picture

Wow. You know it's coming, the desparate attempts to gain control, in the a futile attempt to stop the end of monetarism, but it's just so funny to actually see it.  Sad, more than funny of course.  Completely expected by the fascist monetarists. We're going to see soon if they have any muscles in brussels.  Good thing I know they are the skinny dorky kid who always brings on his troubles himself by opening his retarded mouth.

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