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You must be kidding.
I guess everyone is still interested in paper vs. things...
Robo = pot 2 kettle.
You mean like paper stocks instead of physical gold or silver? Robo's double-speak and wishy-washiness is just like... an American politician. Are you, by chance Robo, Nancy Pelosi in drag?
Because the Euro's just that important
"Brazil has sounded a new note of warning in the international "currency war" by pledging not to allow the United States to "melt the dollar"." - http://www.telegraph.co.uk/finance/currency/8241635/Brazil-pledges-to-stop-US-melting-the-dollar.html
It's a funny old world.
It's a funny old world.
Brazil is the barnacle on the ass of progress... they have no way to stop ANYTHING that the US wants to happen... not now, not EVER
I know Brazil has a history of nuking their own currencies into oblivion but not even that will stop Zimbabwe Ben's relentless onslaught. Short of them "taking him out" I have no idea how they can stop Bennie from printing, and the printing can easily overwhelm anything Brazil could try to do to strengthen the dollar vs the Real and not have real wages drop to nothing in Brazil.
Listen, and understand! That Bernank is out there! It can't be bargained with. It can't be reasoned with. It doesn't feel pity, or remorse, or fear. And it absolutely will not stop, ever, until all currencies seek salvation through Dollar hegemony.
The Dollar is meant to die and be resurrected as a non reserve asset backed currency yet The Bernank is without reason.............
Game over man. Game over!
Note: Santelli just gave a shout-out to ZH for its mention of SHIBOR.
Ahead of the curve here, folks.
Indeed....kudos Tyler. Keep it coming.
Santelli did a decent interview on the Peter Schiff show a few nights ago - http://schiffradio.com/pg/jsp/charts/audioMaster.jsp;jsessionid=556D2C26F8158A94468147BD2EBDDDD9?dispid=301&pid=51291&f=NTEyOTEtdHJ1ZS0wMS8wNS8yMDEx
Well we know Santelli reads this site. He just quoted SHIBOR articles posted here in the past...
I am confused. Is that the first issue of a EU Euro-Bond, not related to one distinct country?
I thought Germany was still fighting against such.
This additional layer of ponzi is issued under the "EFSM" and is backed by all EU members (EU budget). The pile of fiat collected in this layer will be handed to Ireland (bankers want their bonuses this time a year, ya know). Soon there will be more issuance under "EFSF" which is the monster vehicle with a guarantee by participating eurozone member states on a pro rata basis. (greece and ireland naturally are not participating member states anymore and soon the non-participating bunch will grow as Portugal joins them)
I think they made it intentionally confusing. This is an EFSF bond, funding the "long-term structural facility" for bail-outs. It is not a sovereign issuing their own debt through EU bonds, as many of the EMU would like and Germany is fighting.
I think the issue will reach a head later this week with the Spanish 5 and 10 year bond auctions. Given the exorbidant rate that Portugal paid for a 6-month bill today, I would imagine the ECB is preparing to step in massively on the Spanish bonds. If so, that's the pattern for 2011. It won't be looked on kindly by the German voters.
This is not EFSF issuance. This particular one was issued under EFSM and the proceeds will be handed to Ireland. Ireland will pay 5,51% of interest to EU for the money.
I stand corrected - it is European Financial Stabilization Mechanism (EFSM).
A new EU draft proposal suggests that bondholders take losses on ailing banks rather than upstreaming the responsibility to the sovereign level and bailouts being taxpayer funded.
Anyone happen to know which one?
Do you care to shed any light about what the hell happened on the 21rst of December or are you still trying to get your head around it ?
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