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Europe About To Be Hung Out To Dry (Liquidity Wise)?

Submitted by Tyler Durden on 03/31/2011 08:55 -0400

Two rather unpleasant headlines for the Old World from Reuters:

There has been disagreement in ECB governing council over new liquidity facility
ECB will not announce plans for a new liquidity facility to help Irish banks on Thursday

EURUSD has now erased all of the CPI-beat gains. Bond selling picking up.

More as we see it.

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Thu, 03/31/2011 - 08:59 | 1120925 bankrupt JPM bu...

its okay JCT can raise rates like Ben in 15 mintues, EVERYTHING IS OKAY STOP THE PANIC!

www.silvergoldsilver.blogspot.com

Thu, 03/31/2011 - 09:00 | 1120927 MsCreant

Long Mad Max Futures.

"Who run barter town?"

Thu, 03/31/2011 - 09:18 | 1120991 Ricky Bobby

+1 LMAOF

Thu, 03/31/2011 - 09:24 | 1121021 buzzsaw99

lloyd run barter town

Thu, 03/31/2011 - 09:27 | 1121022 Goldenballs

2 economies enter only 1 leaves.

Thu, 03/31/2011 - 09:51 | 1121121 johnQpublic

+infinite printing

Thu, 03/31/2011 - 14:02 | 1122203 MsCreant

I am the Chairsatan. I'm a fuel injected printing machine. I am the rocker, I am the roller, I am the out-of-controller!

Thu, 03/31/2011 - 21:24 | 1123676 Element

I think you meant;

"...I'm a fuel injected benocide machine..."

PS: Japan just caught a sausepan in its throat.

Thu, 03/31/2011 - 10:13 | 1121189 Manthong

2 forms of exchange enter, only one leaves.

Thu, 03/31/2011 - 09:00 | 1120929 Tulli

Naaaaah, posturing, that's all.

Thu, 03/31/2011 - 09:13 | 1120981 umop episdn

I think the same way. TPTB have to take the attention/heat off of the declining dollar or it might be a disorderly decline. Even 'Merkin sheeple will wake up if prices double in a month or two--I hope. There is a lot of hatred out there properly directed at the war whores, of which the QSA is the worst.

Thu, 03/31/2011 - 09:23 | 1121012 silvertrain

If thats all prices do is double then we would be very lucky..

http://www.usatoday.com/money/industries/retail/2011-03-30-wal-mart-ceo-...

Thu, 03/31/2011 - 09:28 | 1121032 Hansel

QSA?

Thu, 03/31/2011 - 09:36 | 1121056 Quintus

"Even 'Merkin sheeple will wake up if prices double in a month or two"

Merkins - the fashion 'Must have' of days past that has sadly fallen from favour recently.

http://en.wikipedia.org/wiki/Merkin

Thu, 03/31/2011 - 08:58 | 1120932 oogs66

SOVX +4 175 Portugal 10yr bond 8.2% and Irish 10yr 10%. Both new records. Grece 12.75% and at or near previous record.

Thu, 03/31/2011 - 08:59 | 1120936 Tulli

Bullish.

Thu, 03/31/2011 - 09:04 | 1120949 bob_dabolina

DOW closes +500

Thu, 03/31/2011 - 09:05 | 1120951 GOSPLAN HERO

Gold is getting horny again.

Silver is erecting too.

Thu, 03/31/2011 - 09:10 | 1120974 MsCreant

I won't call the doc unless it lasts over 4 hours.

Thu, 03/31/2011 - 09:55 | 1121129 Cash_is_Trash

You'd expect somebody would call a doctor in economics, and the government did.

But the motherfucker chosen is a psychopathic currency killer.

Paging Dr. Chairsatan, your stomach-fingers are needed in the currency department.

Thu, 03/31/2011 - 09:06 | 1120955 monopoly

Hmm, think I will stick to my gold and silver and pass on CMG

Thu, 03/31/2011 - 09:05 | 1120956 Sudden Debt

I've drunk already so much coffee today...

THAT I'VE GOT ENOUGH LIQUIDITY FOR ALL OF US!

I'm going for a piss...

Thu, 03/31/2011 - 09:07 | 1120964 snowball777

They need you at TEPCO.

Thu, 03/31/2011 - 09:32 | 1121049 Cindy_Dies_In_T...

We figured that much SD. Switch to decaf.

Thu, 03/31/2011 - 09:58 | 1121139 Cash_is_Trash

Bernanke's emails ordering fiat debasement look like Suddens comments:

PRINT YOU MUTHERFUCKERS!! PRINT!!

On XEROX on KYOCERA, get the FUCKING FAX MACHINE!!

QUANT and ease, QUANT and ease... REPEAT TIMMAH!

Thu, 03/31/2011 - 09:08 | 1120960 snowball777

Fetchez la vache!

http://www.youtube.com/watch?v=YV0LGMGuLN0

Thu, 03/31/2011 - 09:07 | 1120965 TaxEstate

Is there such a thing as "limit up" S&P futures? ;-)

Thu, 03/31/2011 - 09:12 | 1120976 Quintus

Do you really need to ask? Naturally there is no 'Limit Up' for the approved markets (Equities), only for the ones deemed unacceptable (Commodities, Precious Metals) to the central planners in charge of the markets

Thu, 03/31/2011 - 09:11 | 1120969 misterc

*whisper*

Blue horseshoe loves AIB

Thu, 03/31/2011 - 10:32 | 1121261 willien1derland

Classic +1000

Thu, 03/31/2011 - 09:10 | 1120972 Mike2756

http://www.youtube.com/watch?v=eVBPGZEVRH0

Thu, 03/31/2011 - 09:30 | 1121040 snowball777

Practice makes perfect?

Thu, 03/31/2011 - 09:15 | 1120983 bingaling

Quick lower rates !!!!!Has Trichet just played the Bernanke card ? "We thought we would be able to raise rates but with the current liquidity crisis it doesn't look possible and we are lowering rates but really really soon we will be raising rates in two weeks , if things have settled down a bit .But let me make it clear rate increases are imminent...no I am serious this time ,if the liquidity outlook looks better .Also winds in tokyo may also change our assessment as to what rates should be . In conclusion , rate hikes are imminent even though we are lowering them for a very very short period of time ,maybe even only 24 hours,then we will raise like you have never seen rate hikes before if liquidity problems are resolved of course. The Union is strong and determined to do whatever it takes to make sure Germany pays for all of this and no one loses money betting they might lose it . Thank you and I AM OUTTA HERE. "

Thu, 03/31/2011 - 09:44 | 1121080 A Man without Q...

ok - now I think I am getting it. Impending liquidity crisis = no rate rise = bullish for equities = BTFD.

It's a bit like seven degrees of Kevin Bacon - how many logical steps does it take from any situation to get to BTFD...

Thu, 03/31/2011 - 10:33 | 1121268 willien1derland

Intersting Scenario - what about USD appreciation - if EUR falls to 1.36 or less will USD appreciation stop the S&P ramp?

Thu, 03/31/2011 - 09:15 | 1120985 silvertrain

Last one out hit the lights please..

Thu, 03/31/2011 - 09:15 | 1120990 99er

EURUSD

Target 1.368.

http://www.zerohedge.com/forum/99er-charts-0

Thu, 03/31/2011 - 09:18 | 1121004 william shatner

Trichet is pumping up the euro goldprice, today is the end of Q1. MTM goldprice in euroland, not the crappy fixed 42$ goldprice in the US of A.

Thu, 03/31/2011 - 09:24 | 1121015 falak pema

Maybe Trichet wants to be remembered as Trichetor...or translated into 'anglais' : Trickster...!

Thu, 03/31/2011 - 09:39 | 1121062 snowball777

http://www.youtube.com/watch?v=gVFAWSbdrGI

I stand firm for our soil
Lick a rock on foil
Say reduce me, seduce me,
Dress me up in Stussey
Hell is round the corner where I shelter
Ism's and schisms, we're living helter skelter
If you believe and deceive common sense says shouldn't receive
Let me take you down the corridors of my life
And when you walk, do you walk to your preference?
No need to answer till I take furthur evidence
I seem to need a reference to get residence
A reference to your preference to say
I'm a good neighbor, I trudge,
So judge me for labour
The bond on me ensures my good behavior
The constant struggle ensures my insanity
Passing the ignorance ensures the struggle for my family
We're hungry beware of our appetite
Distant drums bring the news of a kill tonight
The kill which I share with my passengers
We take our fill, take our fill, take our fill

Confused by different memories
Details of Asian remedies
Conversations, of what's become of enemies
My brain thinks bomb-like
So I listen he's a calm type
And as I grow, I grow collective
Before the move sit on the perspective
Mr. Quaye lay in the crevice.
And watches from the precipice
Empirial passage
Heat from the sun somedays slowly passes
Until then, you have to live with yourself

Thu, 03/31/2011 - 09:28 | 1121028 buzzsaw99

The banks will make a killing on this scheme.

Thu, 03/31/2011 - 09:29 | 1121029 Goldenballs

Europe depends on the half wits at the EU for survival.What a f****n joke.

Thu, 03/31/2011 - 09:49 | 1121101 Quintus

The Euro certainly does, but I would argue that 'Europe', as in the people of the continent, would be far better off if the half-wits at the EU, as you put it, were all swinging by the neck from the lamp-posts of Brussels.

Thu, 03/31/2011 - 09:51 | 1121116 Goldenballs

+1,000,000

Thu, 03/31/2011 - 09:32 | 1121045 Lord Peter Pipsqueak

Euro up 0.35% against dollar,0.56% against sterling,no matter how bad the news gets,the Euro just keeps going up and with it the stockmarkets.

Thu, 03/31/2011 - 09:34 | 1121047 Snidley Whipsnae

Forbes snuck this into an article that few seemed to notice... Here is their take on a 'new gold standard'... It sucks... Maybe this isn't off topic?

"Under a Dollar Bill system, the monetary base consists of fiat dollars (both currency and bank reserves) created by the Federal Reserve. The Fed is not allowed to set interest rates, and it is relieved of responsibility for promoting full employment. Instead, the Fed is tasked with employing its Open Market operations to adjust the size of the monetary base so as to keep the COMEX price of gold as close as operationally practical to a target gold price. Fractional reserve banking is allowed."

edit to post link: http://blogs.forbes.com/louiswoodhill/2011/03/30/stop-the-madness-make-the-dollar-as-good-as-gold/

Thu, 03/31/2011 - 10:08 | 1121170 snowball777

Fractional reserve banking (credit money bubble generation) is a more powerful tool than OMO so a "Dollar Bill" fiat system would not work either...don't bring nailclippers to a gun fight.

Thu, 03/31/2011 - 10:10 | 1121184 bingaling

Wow it is like what we have but out there in the open .

Right now the Fed can't raise rates

They are allowed to print monetary base

They can't create jobs .

They manipulate the price of gold .

Did I miss anything ?

Thu, 03/31/2011 - 10:08 | 1121171 HedgeFundLIVE

yday IWMs made a fresh 52 week high- still bearish? http://www.hedgefundlive.com/blog/new-52-week-high-in-the-iwms-reminds-me-of-new-highs-back-in-february

Thu, 03/31/2011 - 10:13 | 1121188 snowball777

As priced in?

Thu, 03/31/2011 - 10:35 | 1121271 M.B. Drapier

Live on TV!

Central Bank of Ireland stress test results at 15:30 UTC/GMT (16:30 local)
Then on to the Irish parliament for a statement by the Minister for Finance, including (possibly hollow and meaningless) noises about senior haircuts

Thu, 03/31/2011 - 11:07 | 1121412 TwoShortPlanks

Yeah, no wonder the Britan didn't join the Eurozone...of course the BOE is THE Central Bank...it's like the pure ancient Vampire, the rest are people that have been 'turned'.

The Fed 'rolling-over' and cooperating all of a sudden. This shit's starting to feel weird...something's not right I'm telling ya.

It feel like all of a sudden all of the 'everything is fine' clan have flipped and resigned to taking the pain...I mean, all of a sudden!

Thu, 03/31/2011 - 17:58 | 1123067 Buck Johnson

They are trying to figure out who will fund it this time. And if they won't, Ireland can just print more Euros like they did in December. Then again that does devalue everyone elses holdings don't it.

Europe About To Be Hung Out To Dry (Liquidity Wise)?

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