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EURCHF Tumbling, Prints Fresh All Time Low Of 1.1914, Commodities Plunge (Update: Scratch That, New Low Is 1.1875)
Update: Timber:
Wonder what is happening with Greek deposits? Nothing good, at least nothing good for Greek banks. And it is not just Greece: all of Europe is scrambling into the relative security of Switzerland where the EURCHF just hit a fresh all time low of 1.1915, and likely to drop much lower.
And the ongoing selloff so needed for QE3 continues.
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Prepare the lifeboats
"But Captain, we don't have enough for the steerage passengers." What should we do, sir?"
Captain to sailor: "Save all the bankers first. If there is any room left, load their baggage."
"Aye, aye, sir"
last week Art Cashin said it reminded him of Black Friday
let me tell you looking at the futures this reminds me of Oct 16 87 (posted last week)
Black Friday edition of Wall Street Week 1987 in its entirety
http://www.youtube.com/watch?v=2MyToTwag34
http://www.youtube.com/watch?v=h9iE-bn0xBU
http://www.youtube.com/watch?v=o7_l5ijG0bg
(but unlike '87 our leader, President Obama will be doing Bankster New York tonight landing on a Wall Street helipad and taking the bankster entourage uptown for dining at Daniel followed by a Broadway show)
Dive Dive Dive! AROOOOGA! AROOOOGA!
Dive Dive Dive! AROOOOGA! AROOOOGA!
weren't the new issue Pretend & Extend lifeboats used up in 2008?
...they're looking a bit ragged, maybe get one more use out of them and then it's Down & Drown
...hope Obumma enjoys his dinner at the NY Parasite Club... it will be one of his 'Last Suppers' for our beloved saviour as he's getting crucified in 2012
Is it still considered crucifixion if you drive the nails through your palms yourself? Secondly, he doesn't seem to be in any pain. I think he is ready to go. He's made a lot of new friends in high places, he can hang with them for the rest of his life. He will claim, disingenuously, but charmingly, that he fought the good fight, and travel the globe like a rock star making inspiring and hypocritical speeches with no accountability for having to follow up his words with actions. How cool is that? It's f'ng perfect for him.
CDSkiller - you mean Obumma will take up the rock star lifestyle Toady Blair has enjoyed since being pushed out by Brown... a Credit Suisse sock puppet not to mention writing a book and taking up religion (not that the word of God, or any truth, was in much evidence between the pages, just the usual slippery socialists dishonest re-writing of history having ruined Britain with another orgy of loony left spending)
....and when you are done with that, those deck chairs need to be re-arranged.
Short Canada and Australia, Specially Second One.
Why canada?
Economically they are in a much better place than Oz, and do not have the carry unwind panic sword over their heads.
Commodities getting hit hard, they are a commodity based econ.
Go figure.
Don't you know everything gets blamed on Canada!
http://www.youtube.com/watch?v=vxPRHXgYVlk
The correlation between equities and commodities (including gold) is very strong. If you believe the equity market is going to collapse, I'm not sure how you can believe commodities will be able to stand up on their own.
Its that whole eating thingy. And barter, and clothes, and fuel.
How'd that work out in 2008?
Don't know, still stockpiling. Never one to expose myself to counterparty. Physical everything.
Hope PM's take a MAJOR dump,need to snag some $1000 gold............LOL,and lot's more silver@ $12.00
Would love to see $6 silver. Must admit I took some profits during the upswing and need to restock.
Here in greece we have a beautiful sunny day.
Crude is getting hammered!
Got cash. Gonna be a great opportunity soon in the miners. Patience.
No cash. I do have some FRNs.
In a collapse of empire with blood in the streets don't all the miners get annexed?
soon?
you missed the lows already
I'm investing in a company called B.R.A.T. & Gui. Something about boiled ropes, tar, and guillotines. Should have a pretty good return on investment in the next couple of years.
Damm snow
Agree, commodos and gold will suffer short term. Just do not be on margin. That is a death wish.
+1
*Credit Agricole may face to 12.330 mn losses when Emporiki branch defaults. GreekAthens- Non Recovery Rate_ French Bank Increasing Risk ]+
but, i thought the chairman said yesterday that the end of money printing v 2.0 was already priced in....
no?
he would say that wouldn't he..
..in fact Benny will say any old inane dribble to 'instill confidence' but it just drifts like garbage under the bridge and down the river because nothing he has ever said or done has been right
The swiss mainstream media (which is not much less stupid than in the rest of the world) explains now each day that a strong swiss franc is good as imports get cheaper. Since years, they complain that a strong swiss franc is bad for our economy. In the meantime, dont forget that the balance sheet of swiss banks equals 800x the GDP and for those who think their money is safe in Switzerland, UBS apparently hires more and more people from Nigeria as they claim to be open to all cultures.At least at UBS, on 3 emplyees, there is now 1 german, 1 from Africa and 1 from Switzerland.This trend seems to happen also in other banks here in Zürich.
800x GDP?
I knew it was nuts but not THAT bad........
:p
British Banks are 400% of GDP but there's absolutely fuk-all backing them, apart from the usual political credit line (robbery) of citizens/small businesses wealth
Tyler.
Short All French Banks , Important Sir.
Can you give some indication of Swiss credit spreads?
Meanwhile, on the war front:
Libya: Gadaffi says "You said, 'we hit our targets with precision', you murderers ... One day we will respond to you likewise and your homes will be legitimate target. "NATO will continue this mission because if we stop, countless more civilians could lose their lives," Rasmussen said"
http://english.aljazeera.net/news/africa/2011/06/201162210488135496.html
Yemen: An investigation team from the United States has reportedly found that an attack that wounded President Ali Abdullah Saleh and several senior members of his government while performing the Friday prayers in his Sana’a presidential compound earlier in June was carried out by an advanced US-made missile designed for special assassination operations, sources close to the probe told Al Arabiya. Meanwhile, Top US official Jeffrey Feltman called Thursday for an “immediate” transfer of power in Yemen after he met the Arab nation’s Vice President Abdrabuh Mansur Hadi. “We continue to believe that an immediate, peaceful, and orderly transition is in the best interest of the Yemeni people,” – Al Arabiya
Syria/Turkey: Syria troops massing on the Trukish border as Hez prepares for war
http://www.jpost.com/MiddleEast/Article.aspx?id=226238
Israel/Russia: The five Russian scientists were among 44 killed earlier this week; no official investigation of foul play has been opened, though Iranian nuclear experts have in the past been involved in similar accidents
http://www.haaretz.com/news/diplomacy-defense/nuclear-experts-killed-in-...
My view of the past may be faulty, but I recall that meddling in the affairs of others (especially those who envision virgins in heaven) led to a rather large melee in New York on September 11th, 2001. It amazes me that if it happens again it will be chalked up to the "fact" that we are hated for our "freedoms". One thing that we learn from history is that we never learn from history.
The big unwind has begun
I'd like to see a strong dxy close above 76.
This market still has no problem bouncing over the next couple days to squeeze everyone who's gonna get short in about 20 minutes
I'm thinking margin calls are gonna dominate the action
A poll conducted by CNBS asked if "you are confident in Ben Bernanke"?
So far 96% said no. I would attach a link but I do not want to drive traffic to that garbage outfit.
a better Obama and the Banksters do New York link
Obama will next attend a $35,800-a-head fund-raising dinner at swank upper East Side restaurant Daniel.
http://www.nydailynews.com/blogs/dailypolitics/2011/06/obama-to-net-more...
You're easily distracted by bright, shiny things, aren't you?
+1
rotflmao!!
PPT .....ready
EUR/CHF parity bitchez!
as far as CHF is concerned, id suggest thats less an effect of capital inflows from foreign europeans, but rather the Swiss repatriating their money from the world.
Very funny.
well, at least that was the baseline of a recent research paper i sadly cant find anymore, sorry for the lack of source.
We already did that long ago.
I swap all my fx positions so my bank has to pay the bill...
doublepost...
Probably going to be one of the biggest down days of the year in the CRB Index.
Crude oil getting absolutely massacred.
10-yr. yield has outright crashed to 1.46%
"Paper" rules over "Things".
There will come a day when paper burns, but not today.
i see you're losing more money yet again, after flipping your short to long, unless you lied.
Gold attempted to violate the undeclared defensive line of 1550 yesterday. I was waiting for the wack down after that. Until we breach 1550 and close on the week with a significant price above that, such as 1555, we'll be stuck in this "zone" 1500-1550. Someone has committed to limiting the POG to keep it lower than 1550, until they then decide to let it rise. IMO TPTB are accumulating and wish to assure their purchasing power to convert worthless fiat into tangible metal.
The move into CHF without a similar rise in gold says to me there is major manipulation going on in the CHF. Safe haven CHF and gold go hand in hand, particularly if Greece is the default poster child for the Euro zone...
ccr warned us a long time ago:
I see the bad moon arising.
I see trouble on the way.
I see earthquakes and lightnin'.
I see bad times today.
Don't go around tonight,
Well, it's bound to take your life,
There's a bad moon on the rise.
I hear hurricanes ablowing.
I know the end is coming soon.
I fear rivers over flowing.
I hear the voice of rage and ruin.
Hope you got your things together.
Hope you are quite prepared to die.
Looks like we're in for nasty weather.
One eye is taken for an eye.
yep. well said.
<<< The European Union (EU) is an economic and political union of 27 member states... >>>
EU = FUBAR
Greenie oh nooooo hey hows that 'long Euro 1.46' trade workin out you were lecturing me about the other day and telling me Im just not a master trader like you?
Don't worry folks, the PPT will be along soon. That's the twisted logic of SpongeBen SquarePrinter: believe people will consume more if the stocks go up, when the little guy can't afford to speculate and 45 million americans are on food stamps.
Yep PPT is in play, man those guys have CASH! Is there any level of volume that can overwhelm them?
Dam speculumators.
I am not so sure it is risk off.
When goldilocks comes knocking it looks similar.
I am hoping for at least a brief visit. Still long stock market.
Leveraged beta, bitches.
Billions of beachballs on their way to sunshine and air...