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Dagong Puts Italy Ratings On Downgrade Review

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Mon, 07/11/2011 - 07:43 | 1443027 Yen Cross
Yen Cross's picture

 Who is underwriting that review? Moodys of Milan?

Mon, 07/11/2011 - 08:01 | 1443065 Yen Cross
Yen Cross's picture

 Silent Clap... +~   AKA golf clap...

Mon, 07/11/2011 - 08:02 | 1443069 qussl3
qussl3's picture

Liar liar pants on fire.

Mon, 07/11/2011 - 08:08 | 1443084 augie
augie's picture

@sunshine,

You worry too much. They have their top men working on it... Top, Men. 

http://www.youtube.com/watch?v=q6-rQ6Jay6w&feature=BFa&list=HL1310386008...

Mon, 07/11/2011 - 09:22 | 1443316 Thorlyx
Thorlyx's picture
Mon, 07/11/2011 - 09:39 | 1443383 Dr. Kenneth Noi...
Dr. Kenneth Noisewater's picture

Tue, 07/12/2011 - 21:45 | 1450191 MGHJFHD
MGHJFHD's picture

.From all the blogs I’ve read lately, this one seems to be the most impressive - it gave me something to think about.

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Mon, 07/11/2011 - 07:45 | 1443031 Negro Primero
Negro Primero's picture

mamma mia!!!

Mon, 07/11/2011 - 07:46 | 1443034 NoRestForTheWicked
NoRestForTheWicked's picture

The calendar has a little red x in a sea of white (not uploaded yet).  Maybe symbolic?

Mon, 07/11/2011 - 09:04 | 1443252 Sudden Debt
Sudden Debt's picture

Maybe X points out the place where they hid the gold?

somewhere in the sea?

 

Mon, 07/11/2011 - 07:46 | 1443036 qussl3
qussl3's picture

Chinabot's got a virus?

WTF lol.

Mon, 07/11/2011 - 07:53 | 1443048 Caviar Emptor
Caviar Emptor's picture

2008: Globally coordinated bailouts 

2011: Globally coordinated downgrades

Ponzi off! 

Mon, 07/11/2011 - 09:07 | 1443264 Sudden Debt
Sudden Debt's picture

Beautifull he?

 

First the countries bailout the banks...

Then the Banks bailout the countries...

 

makes sense... in a way...

Mon, 07/11/2011 - 07:53 | 1443052 Mountainview
Mountainview's picture

Datong is the only credible rating agency as they represent the worldwide biggest buyer of bonds. S&P, Moody's and Fitch represent the biggest seller of debt and smell very often politicaly perfumed.

Mon, 07/11/2011 - 07:54 | 1443053 the not so migh...
the not so mighty maximiza's picture

It is about time Italy joined the party. 

Mon, 07/11/2011 - 09:04 | 1443246 Sudden Debt
Sudden Debt's picture

Italians...

When they say "we're finished" that means that they are planning to start.

When they say "no problem my friend"... you should worry... and get out... FAST!

 

 

Wed, 07/13/2011 - 06:02 | 1450874 luigi
luigi's picture

"No problem, we are finished"...

Mon, 07/11/2011 - 07:54 | 1443054 malikai
malikai's picture

WTF?! Isn't this against their self-interest? I mean, after all that's been "invested" in Greece.. I'm terribly confused here.

Mon, 07/11/2011 - 07:56 | 1443057 Miss Expectations
Miss Expectations's picture

The farce is now complete...

Not quite.  This is merely another disturbance in the farce.

Mon, 07/11/2011 - 08:01 | 1443066 TruthInSunshine
TruthInSunshine's picture

The farce is strong in Schaeuble.

Mon, 07/11/2011 - 08:01 | 1443067 Caviar Emptor
Caviar Emptor's picture

+1

Mon, 07/11/2011 - 08:05 | 1443077 bigwavedave
bigwavedave's picture

so china wants to buy some cheaper italian paper... makes sense

Mon, 07/11/2011 - 08:04 | 1443078 Poor Grogman
Poor Grogman's picture

It is not meant to be clear.

We are meant to be confused little sheep just bleating to be led out of the deep dark wood.

Unfortunatly for the PTB some people just insist on putting out another line of shorts, or buying inedible metal for entertainment,  rather than watching the idiot box.

These damn uppity sheeple.

Mon, 07/11/2011 - 08:17 | 1443092 Caviar Emptor
Caviar Emptor's picture

Today is a definite  Ponzi off!  day.

Gold continues to decouple from metrics that have dominated the price action in recent months: dollar up, oil down are no longer an issue. I suspect that trend will continue and pick up steam. 

That's because gold is reclaiming its top-of-the-food-chain status in the face of full-on global currency uncertainty that, yes, even reaches the dear old dollar. US sovereign debt issues are now on full display and the politics are getting thick. An imminent rise in the debt ceiling comes at a badly timed juncture that only raises the specter of global competitive devaluations. US unemployment has quashed any fears of a rate hike. And dollars may soon be spewing out of the fire hose as the new phase of the crisis unfolds

And there's also the sneaking suspicion of interbank liquidity drying up fast out there as numerous, interdependent global mega banks are falling into the shadowland of counterparty suspicion. Who will be the first domino? 

Hang on to yer gold. If you don't have any, get it. If you have extra Bennie Bux, convert them. Gold will help navigate the choppy waters of the new unfolding reality which continues to go down the slippery slope anticipated since the crisis began in 2007. 

Mon, 07/11/2011 - 08:22 | 1443110 qussl3
qussl3's picture

I really want to agree with you but my dildo sense tells me that the moment we get a miraculous deadline debt deal announced, paper gold is gonna get ponzi whacked.

Waiting to BTFD on that tho lol.

Mon, 07/11/2011 - 08:16 | 1443095 spanish inquisition
spanish inquisition's picture

I think the problems is there are too many people looking at and analyzing sovereign debt. I suggest that no one should be allowed to look at sovereign books. Without analysis, everyone will be happier because the debt is neither solvent or insolvent. Without having a debt distraction, we can concentrate on getting the trains to run on time. We can call it the Schrodinger Sovereign Debt Model.

Mon, 07/11/2011 - 09:08 | 1443269 White.Star.Line
White.Star.Line's picture

Finally, a workable solution to the crisis!

It is not the shady books, excessive leverage, and skyrocketing debt ratios that are the problem.
It is the threat of AUDIT.

We need more controls to keep inquisitive minds out of the world financial system, and not rock the boat.

Speaking of rocking boats, we are just about out of lifeboat seat assignments......

Mon, 07/11/2011 - 08:21 | 1443105 luigi
luigi's picture

Well, as little notch of hope, at least half of the due debt is in the hands of Italian banks (broken themselves, but keen not to lessen their reserves, so they probably still will buy).

Despite the fact that Italian default is long overdue (as is that of most western Countries) it is funny to see how every time there is an auction of souvereigns somewhere, a few days prior some rating agency starts the shit-fan at full power. OTOH, every time there are T-Bonds to sell, again the shit-fan blows against euro-zone to spread panic and push the Financial-Hamster-flock in the T-Bond corral. It seems to me that most traders have been reduced to a Pavlov-dog degree of drill.

Mon, 07/11/2011 - 09:45 | 1443398 Ted K
Ted K's picture

Thank you Zhing Zhang Zhong!!  Any updates on if Greece or Iceland is going to default from comrade Wing Wang Wong??? Ching Chang Chong says careful what you say when Big Daddy Wen JiaBao is listening. IF you whispered the word "Inflation" and the starving peasants are listening outside the window it could cause "Big Daddy, everybody want to lick your ass Wen Jiaboa" major probs.

Mon, 07/11/2011 - 10:40 | 1443647 Stuck on Zero
Stuck on Zero's picture

"Oh yeah! If you downgrade my country I'll downgrade yours."  And so the MAD doctrine takes down the nation-states.

Mon, 07/11/2011 - 10:58 | 1443747 williambanzai7
williambanzai7's picture

Mon, 07/11/2011 - 18:12 | 1445616 PulauHantu29
PulauHantu29's picture

Are Moody's and S&P still in business?

The Greater Sucker Theory. They were rating the worthles subprime Triple AAA right up until they went belly up....LMAO

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