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Dubai CDS Hits 652, Ploughs Through November Highs As Gold Jumps On Greek FinMin Headlines
This is where Jim Cramer (and every sell side analyst) comes out and tells us all this is just the market exaggerating stuff and what not. Oh, and gold being up 1% as a fiat currency alternative is completely irrelevant to anything.
In other, actually relevant, news, the Greek Finance Minister is providing the usual share of cheerful Monday morning headlines. As Emperor Palpatine would say, the chaos in Europe is now complete.
08:13 02/15 GREECE FIN MIN: WE ARE IN A TERRIBLE MESS
08:24 02/15 GREECE FIN MIN: GREECE IS BEING PUSHED TOWARDS THE EDGE
08:14 02/15 GREECE FIN MIN: MOST DIFFICULT TASK IS TO RESTORE CREDIBILITY
08:24 02/15 GREECE FIN MIN: CLAMP DOWNS DON'T PAY OUT IMMEDIATELY
08:22 02/15 GREECE FIN MIN: WE HAVE CONSERVATIVE ESTIMATES ON TAX EVASION
08:21 02/15 GREECE FIN MIN: NEED TIME TO IMPLEMENT MEASURES
08:19 02/15 GREECE FIN MIN: WE HAVE BACKING OF GREEK PEOPLE
08:19 02/15 GREECE FIN MIN: WE WILL BE ABLE TO IMPLEMENT PLAN
08:17 02/15 GREECE FIN MIN: CAN'T RUN BIG CURRENT ACCT DEFICIT IN EMU
08:15 02/15 GREECE FIN MIN: RESTORING CREDIBILITY WILL TAKE TIME
08:29 02/15 GREECE FIN MIN:HOPES MORE SPECIFIC STATEMENT IN DAYS/WKS AHEAD
08:28 02/15 GREECE FIN MIN: EU SOLIDARITY STATEMENT IS VERY IMPORTANT
08:27 02/15 GREECE FIN MIN: ANY EU COUNTRY COULD BE PREY TO SPECULATION
08:27 02/15 GREECE FIN MIN: TODAY GREECE, TOMORROW CLD BE OTHER EMU STATE
08:27 02/15 GREECE FIN MIN: 4-PT DEFICIT CUT THIS YEAR 'VERY IMPORTANT'
08:25 02/15 GREECE FIN MIN: GREEK PROBLEM IS NOW A EUROPEAN ONE
08:24 02/15 GREECE FIN MIN: TIME IS VERY SCARCE
08:52 02/15 GREECE FIN MIN: NEED TO MAKE SUPPORT FOR GREECE OPERATIONAL
08:51 02/15 GREECE FIN MIN: IMPOSING NEW MEASURES NOW SENDS WRONG SIGNAL
08:50 02/15 GREECE FIN MIN: TO ADOPT ADDITIONAL STEPS IN MARCH IF NEEDED
08:49 02/15 GREECE FIN MIN: NEED COMMON SENSE ON ADDITIONAL MEASURES
08:47 02/15 GREECE FIN MIN: WE WILL DO WHATEVER IT TAKES HIT DEFICIT GOAL
08:46 02/15 GREECE FIN MIN: IMPORTANT TO AVOID DIVIDE BETWEEN N, S EUROPE
08:44 02/15 GREECE FIN MIN: UNDERSTANDS FRUSTRATION OF GERMAN CITIZENS
08:42 02/15 GREECE FIN MIN: LISBON STRATEGY IS VERY VAGUE
08:35 02/15 GREECE FIN MIN: WE WANT TO RESTORE CREDIBILITY IN OUR STATS
08:35 02/15 GREECE FIN MIN: GREECE WASN'T ONLY GOVT USING DERIVATIVES
08:34 02/15 GREECE FIN MIN: DERIVATIVES CONTRACTS USED WERE LEGAL AT TIME
08:33 02/15 GREECE FIN MIN: GREECE PM WELCOMES EU SUPPORT STATEMENT
08:33 02/15 GREECE FIN MIN: COMPLETE COLLAPSE IS COMPLETELY ABSURD
08:33 02/15 GREECE FIN MIN: GREECE PM REMARKS NOT A CRITICISM OF EU COUNCIL
08:32 02/15 GREECE FIN MIN: GREECE PM SAID MIXED SIGNALS FROM EU BODIES
09:00 02/15 GREECE FIN MIN: HAVE ASKED FOR FORMAL STATISTICS INVESTIGATION
09:03 02/15 GREECE FIN MIN: IMPORTANT TO INCREASE EUROSTAT POWERS
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09:04 02/15 GREECE FIN MIN: DOES ANYONE REMEMBER LAUGHTER
Sounds like they need a lot of money NOW!
09:03 02/15 GREECE FIN MIN: WE'RE FUCKED.
09:03 02/15 GREECE FIN MIN: WE NEED GOLD, BITCHES!
GREECE FIN MIN: We got Gold, Bitches!!!
GREECE FIN MIN: JP Morgan is after our GOLD, Those Bastards!!!
ROFL!
12:38 02/15 GREECE FIN MIN: ZOMG LOL
EVERYWHERE IS ARGENTINA
Greece already fuckin sold off roads, airport fees, public works projects revenue streams, etc., in exchange for cash up front and derivatives deals (rate swaps).
Fuckin gov there has already sold off the productive national assets to keep in the debt game. This is no different from what Menem and De la Rua did to the Argentines when they fire sold national assets to foreign creditors.
While the proles demand the dole's expansion, the government is selling the nation out from under their feet to keep the party going.
If people don't stop this shit NOW, you will wake up one day to find a Goldman Sachs tollbooth on your street staffed by a local police officer.
Last I heard they didn't have police officers on the streets in Argentina anymore.
Didn't see many police during a November visit to Buenos Aires - doesn't seem to be much need for them in the streets which are full of people working and playing and enjoying life. Saw less panhandlers in a week than I can see in fifteen minutes on fifth avenue in San Diego.
It was a blessing for Argentina that it defaulted ten years ago before the real financial craziness took off and they now have a real economy producing things the world wants to buy.
they now have a real economy producing things the world wants to buy.
------------------
really? like what?
Beef, it's what's for dinner. Exports from Argentina were about 500,000 tons in 2009.
Food and water.
Food, and water ...
Soybeans and derivatives, petroleum and gas, corn, wheat.
https://www.cia.gov/library/publications/the-world-factbook/geos/ar.html
"If people don't stop this shit NOW, you will wake up one day to find a Goldman Sachs tollbooth on your street staffed by a local police officer."
Got physical gold? The time is now.
Shakira's fiance = De la Rua's son.... Hmmm....
The first thing we do is green shoots...
02/15 GREECE FIN MIN: NO BAILOUT, NO PEPSI, NO COKE
02/15 GREECE FIN MIN: PROSTITUTION NOW LEGAL ON SUNDAY
02/15 GREECE FIN MIN: DEFICIT NOT EXZORBATANT
08:22 02/17 Tim Geithner: DAMN THAT MARCY KAPTUR REALLY BUSTED MY BALLS.
09:03 02/15 GREECE FIN MIN: IMPORTANT TO INCREASE EUROSTAT POWERS
Get used to this one folks. In essence the criminals are saying the problem is that there is no cop on the beat or a legal system that actually imposes penalties upon violators. So much for the concept that the actions of markets and those that make and regulate them are self enforcing.
China is printing money out of thin air.
Guys concerned about lying US or Euro government stats do some fact checking.
The Chinese central planning economy is one big lie. The Russians ran out of lies and weren't propped up by Western companies setting up sweat shops. The Russians had the same economic philosophy as the Chinese do. The political lies and propaganda are unmatched.
We are willing to accept that the Fed lies and buys UST.
Nobody is questioning where the Chinese government is getting their money from to buy US debt.... They have trillions in reserves... but what about their liabilities?
China could print into nirvana. Their government lies and would never admit it. Their people are flush with cash from a government that primes the pump with fresh cash. Bad loans are a problem. You foreclose or default, you face the death penalty. People hoard cash because doctors and hospitals accept cash only..
China is a lie. They are buying the world with a lie because they can. Is time the facts get spelled out and the China myth gets demystified.
Any country that has NO DISCLOSURE and CENSORSHIP if anyone dares to disclose can fudge, print and lie. With fudged balance sheets anyone can buy debt, can make loans, can build infrastructure and inflate the price of commodities.
Read the "China Black Swan" column on this site. It's an eye opener.
US rules. Europe abides. China lies but the lies are becoming too obvious and news is leaking.
The Greek government still has substantial collateral. in return for the ports that control the entry points for gas and oil (substantial) we will guarantee X amount of debt. This solidifies energy resources that GrossDeutschLand requires.
09:14 02/15 GREECE FIN MIN: ALL THE INVESTMENT WOMEN ON CNBS F-T-V ARE DOING IT. ROLL OVER ON YOUR BELLY AND LET ME GET THE LUBRICANT
(Note: The fin min is lying, he has no lubricant)
GREECE FIN MIN: NEVER LEAVE YOUR BUDDIES BEHIND
GREECE FIN MIN: THE INFIDELS ARE COMMITTING SUICIDE BY THE HUNDREDS ON THE GATES OF BAGHDAD. BE ASSURED, BAGHDAD IS SAFE, PROTECTED.
GREEK PROBLEM IS NOW A EUROPEAN ONE
Tomorrows headline will read: Zimbabwe problem now a global one.
The virus had infected the body of the currencies by 2007. Peering over the ledge.....
I think the latter day politicians are borrowing a lot from Holywwod. The limelight,and the "one man superhuman who will save all"complex has gotten to them. MAthematically it is very simple. Either:1-Default and back to the Drachma>Political explanation:My fellow citizen,since you refuse to budge on your social responsibilities and pay taxes. And since even if you did,my fellow politicians will steal it anyway,so I don't blame you for not paying it. Hence the default,because even those managers who were lending us other people's money(and not their bonuses,which nowadays they convert to gold and hide in Swiss vaults)stopped lending us.Or 2- Default for no other solution is available.
TIME FOR A GREEK RIOT!!!!!!
http://www1.pictures.gi.zimbio.com/Greek+Riots+Continue+Unions+Hold+Gene...
IF THE GREEKS CAN'T HAVE IT, WHY SHOULD THE SQUID!?!?!?!
http://onemansblog.com/wp-content/uploads/2008/12/greek-riots-4.jpg
http://4.bp.blogspot.com/_4gF6YuGUwVM/STgwD5za9YI/AAAAAAAAHgs/gSQavH4egV...
OH, WAIT, ER, UH...
Seriously, this should get interesting soon. Unlike us, they have it in their recent history to do this, and more.
This is why I have respect for Europe, they take a stand.
09:03 02/15 GREEK MICKEY FIN: LAMB HAS BEEN SACRIFICED AND ZEUS IS ON TOP OF EVERYTHING.
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