• Sprott Money
    05/06/2016 - 06:03
    The US, in its own decline, is showing this same self-destructive tendency. The worse things get, the greater the inclination of the citizenry to say, “Carry on, everything’s fine.”

European Banks Now Feverishly Betting Against Euro, As Bailout Fails, Gold Surges

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Tue, 05/11/2010 - 05:31 | 342979 George the baby...
George the baby crusher's picture

Singing: "It's the end of the world as we know it and I feel fine".

Tue, 05/11/2010 - 08:13 | 343126 Translational Lift
Translational Lift's picture

Nothing new about the French betting against it's self.....Business as usual.....

Tue, 05/11/2010 - 08:31 | 343144 Translational Lift
Translational Lift's picture
RTTNews Articles

"Greece To Place Request For First Tranche Of EU/IMF 110 Bln Euros Aid Today."  The race to the bottom begins.  Hell....I think I'll stop by and ask for 10BB (I hope my fat finger didn't get in the way)...that should keep me for a couple of months...

Tue, 05/11/2010 - 10:09 | 343282 Fish Gone Bad
Fish Gone Bad's picture

Ah, now I get to quote Pogo, "We have met the enemy and he is us."  So the very banks that the EU is trying to save, are biting the hand that feeds it.  Here's a new twist:  Perhaps the banks can also load up on FAZ and SKF to the point that the banks tip over as well.

Tue, 05/17/2011 - 02:00 | 1282112 Karston1234
Karston1234's picture

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Tue, 05/11/2010 - 08:16 | 343130 john_connor
john_connor's picture

It's like betting the nuts against a drunk calling station.

Tue, 05/11/2010 - 08:19 | 343131 homersimpson
homersimpson's picture

More like raising your bet on 21 when the dealer has shown both cards already..

Tue, 05/11/2010 - 08:40 | 343162 Gully Foyle
Gully Foyle's picture

So no Mad Max but Delicatessen. I can see Dominique Pinon in finance.

Tue, 05/11/2010 - 10:34 | 343350 WaterWings
WaterWings's picture

LOL - awesome.

(french accent): "So what do you think? That I would not take top cream off for myself! That is what bankers do! Merde!"

Tue, 05/11/2010 - 09:36 | 343241 Turd Ferguson
Turd Ferguson's picture

Euro rollover and $ rally all just in time for the treasury auctions this week...

Tue, 05/11/2010 - 10:11 | 343294 Bringin It
Bringin It's picture

Good point Turd.  Does that mean we get a new drastic maneuver ever month from here on out?

Tue, 05/11/2010 - 10:10 | 343291 ambrosiac
ambrosiac's picture

 

Followed by

 

"Sometimes

I can't help the feeling that I'm

living a life of illusion..."

 

http://www.youtube.com/watch?v=_tiOMu_Bf8Q

 

 

Sometimes I can't help the feeling that I'm
Living a life of illusion
And oh, why can't we let it be
And see through the hole in this wall of confusion
I just can't help the feeling I'm
Living a life of illusion

Pow! Right between the eyes
Oh, how nature loves her little surprises
Wow! It all seems so logical now
It's just one of her better disguises
And it comes with no warning
Nature loves her little surprises
Continual crisis

Hey, don't you know it's a waste of your day
Caught up in endless solutions
That have no meaning, just another hunch
Based upon jumping conclusions
Caught up in endless solutions
Backed up against a wall of confusion
Living a life of illusion

 

Joe Walsh -- "A life of illusion"

 

Tue, 05/11/2010 - 10:32 | 343348 chumbawamba
chumbawamba's picture

How ya doin!?

Joe Walsh - a longtime favorite (and a good guy).

I am Chumbawamba.

Tue, 05/11/2010 - 10:36 | 343357 RichardENixon
RichardENixon's picture

One of the most underrated guitarists ever.

Tue, 05/11/2010 - 10:36 | 343359 You Cant Handle...
You Cant Handle the Truth's picture

Singing:  Greece is the word / have you heard / it's the terd / that's been sinking / Greece is the way / we've been feeling ...

(With no apologies to Travolta or Newton-John)

Tue, 05/11/2010 - 05:33 | 342980 MaxPower
MaxPower's picture

I'm a pretty fast reader, but this frenetic pace is killing me. I also suspect that the few interpersonal relationships I have remaining are suffering as I futilely try to keep up with all this nonsense.

You people have held me back long enough. I'm off to clown college.

Tue, 05/11/2010 - 06:37 | 343017 Cognitive Dissonance
Cognitive Dissonance's picture

You STILL have a few interpersonal relationships remaining? Obviously you're not trying hard enough. Ditch the rest and surrender to Zero Hedge. Become even more obsessed than the other side is because while we might have righteous justice on our side, they have the central banks, the law, politicians and millions of MBAs on theirs.

Actually I just described their Achilles Heel. They are this huge 200,000 ton dual nuclear reactor powered aircraft carrier that requires 2 miles of open sea to pull a 180 degree turn. And we are in these fast Zodiacs zipping around like thousands of angry hornets. All we need are a few old school Exocet missiles and that carrier is history. 

Just stay away from the screws dude or you're about to have a very bad day.

Tue, 05/11/2010 - 07:16 | 343060 nuinut
nuinut's picture

Sure is becoming a very absorbing few days (and nights) alright!!

I'm looking for BIS to step in sometime in the not too distant future with an announcement regarding gold that will fundamentally change the picture. Can't have the CB's bank staying quiet forever, can we? Can't have those thousands of tons of gold sitting around with no purpose forever, either. 

Christian Noyer is the 'gold man' at the BIS. Oh, and he's the boss these days, too.

Link - "The Gold Man" (not Goldman) at the BIS   

Careful not to lose your bullion over the side of your Zodiak; it'll sink pretty fast.

Tue, 05/11/2010 - 09:45 | 343250 chumbawamba
chumbawamba's picture

I shot my wad during the Fall of 08.  I'm watching all this happening at a sort of semi-disinterested distance.  It has more to do with the fact that I'm excrutiatingly busy of late.

But yes, we may well be on the cusp of something major...another point of no return.

If the credit markets seize up and a run on the banks results, what next?  What is the next phase of this nightmare?  Do we truly plunge into martial law?

As a general rule, always be prepared to get the hell out of Dodge.

I am Chumbawamba.

Wed, 05/11/2011 - 02:55 | 1261981 Howard_Beale
Howard_Beale's picture

Wow--you shot your wad in 2008? Any babies?

Tue, 05/11/2010 - 08:41 | 343165 duo
duo's picture

ZH...the cure for internet porn addiction.

Tue, 05/11/2010 - 09:02 | 343193 Postal
Postal's picture

Now why would anybody want to cure that?

Tue, 05/11/2010 - 09:15 | 343210 Cognitive Dissonance
Cognitive Dissonance's picture

I read in Wired over a year ago that something like 60% of Internet traffic was directly related to porn. That's a lot of sticky mice.

Tue, 05/11/2010 - 09:55 | 343261 chumbawamba
Tue, 05/11/2010 - 09:15 | 343207 MyFriendMises
MyFriendMises's picture

Truer words have never been spoken.  Too funny. 

Tue, 05/11/2010 - 08:41 | 343169 Gully Foyle
Gully Foyle's picture

The freaks won in MicMacs.

Tue, 05/11/2010 - 08:48 | 343176 kwvrad
kwvrad's picture

In the end it wont matter the banksters will have all the paper money they printed(so all they got is what they made, no loss for us really) , but it'll be worthless, because us commoner/peasants will refuse to accept it, and we will be the ones growing and making "stuff" , they in the end will starve n die off , they just havent figured it out yet. The people of the world are not as dumb as "they" think, thats their achilles heel.. CD... I like your analogy about the carrier and zodiacs .

 All I know is theres a world of hurt coming our way and it cannot be stopped we missed that chance not long ago.. just buy alot of "STUFF"  cause you'll need it, dont 4get the reloader , keep your powder dry13

Tue, 05/11/2010 - 08:58 | 343189 primefool
primefool's picture

Markets have survived world wars, earthquakes, and a lot worse. Things may look bad now compared to the golden 1990s but by historical standards - things are not that bad - at all. People who kept their heads, had some faith that the human race will progress and had some dry-powder  became the tycoons for the next era. people who hid in caves - well - they did leave us some nice cave paintings.

Tue, 05/11/2010 - 09:20 | 343219 JacksCompleteLa...
JacksCompleteLackOfSuprise's picture

meh, caves were the McMansions of their day, in fact, they were just fucking mansions :)

I think you have mixed you temporal metaphors there.

I agree that people who keep their heads (no French aristos for instance) can become tycoons.

Tue, 05/11/2010 - 09:20 | 343218 Caviar Emptor
Caviar Emptor's picture

The achilles heal was also in evidence on May 6th at 14:45 : When Goldman sells, there's nobody to sell to. (!) And the other big holders of worthless paper go into panic mode (!)

Tue, 05/11/2010 - 09:31 | 343231 Cognitive Dissonance
Cognitive Dissonance's picture

Nice!

That was pretty evident, wasn't it. In a market of fools, it becomes tougher and tougher to find the greater fool. After a while, everyone becomes a bit gun shy. Like a hyper alert deer, the greater fool bolts at any unnatural sound, even if it's simply a misperception on the part of the greater fool.

Tue, 05/11/2010 - 09:28 | 343227 Double down
Double down's picture

I have given up all hope of human touch.  Thanks ZH.

Tue, 05/11/2010 - 09:33 | 343237 Cognitive Dissonance
Cognitive Dissonance's picture

You can purchase that over the Internet now. A few clicks, a credit card and 1 hour later, lots of human touch. Just thought you should know that just in case you're perched on the ledge. :>)

Tue, 05/11/2010 - 10:30 | 343346 chumbawamba
chumbawamba's picture

Or the tried and true old-fashioned low-tech way: a street corner in a seedy downtown district.

I am Chumbawamba.

Wed, 05/12/2010 - 00:42 | 345437 FreeStateYank
FreeStateYank's picture

Geez, thought I was the only one dropping the ball on interpersonal relationships! Excepting the ones I've maintained, the others are so clueless, it's depressing trying to get them to take their head out of the sand, so I stopped.

 

 

Tue, 05/11/2010 - 07:21 | 343073 bullwinkle
bullwinkle's picture

Not a bad career move Max, because when this is all said and done we're going to need someone to laugh at.  Ditch the floppy shoes though, you'll find that they impede your ability to run.....you know, just in case the crowd turns on you.

Tue, 05/11/2010 - 08:08 | 343120 moneymutt
moneymutt's picture

do clowns do well in bear markets?...I suppose so, 'cause to me they are just scary....send in the clowns...I hate clowns..

Tue, 05/11/2010 - 10:07 | 343285 Hulk
Hulk's picture

Whatever you do MaxPower, don't let this happen to you:

 

http://www.youtube.com/watch?v=hsvAj6qfmFQ

Tue, 05/11/2010 - 11:57 | 343632 MaxPower
MaxPower's picture

I don't care WHO you are; that's funny.

I can't help but get the subliminal, perhaps entirely unintentional, message that we're all being stuck in the foot by Wal-Mart, and by extension large MNC's, China, and our own failed macroeconomic and geopolitical policies.

Am I overthinking this? I'm sure they'll drill this right out of me first day of Clown school. And yes, I capitalized Clown. It's a calling. It deserves some respect.

 

Tue, 05/11/2010 - 05:35 | 342982 primefool
primefool's picture

Yep the governments are definitely the patsies at the poker table. But need to keep in mind that they still have a monopoly on violence and the power to tax - so they can be a stupid as doorknobs and still "win" in the end.

Tue, 05/11/2010 - 06:20 | 343009 tim73
tim73's picture

As always speculators cannot stop themselves and some of you here even think they are some kind of unstoppable force of nature. And then cry "this is unfair", when the government boys suddenly show up, take away the tools or even worse, the angry mob shows up and takes aways something else.

Three innocent bank workers dead in Greece earlier this month. It won't be long before somebody might decide to take out one of the hedge fund offices. But look at the bright side, you will have "fight clubs" in your office! Beware what you wish for, you might actually get it.

Tue, 05/11/2010 - 06:48 | 343030 nmewn
nmewn's picture

I believe something was said about wolves circling...LOL.

The cold comfort of the sheeple must not be interrupted by the knowledge that they are so well guarded by them...move along...move along.

 

Tue, 05/11/2010 - 06:48 | 343028 Cognitive Dissonance
Cognitive Dissonance's picture

"Yep the governments are definitely the patsies at the poker table."

May I suggest that they are not the patsy but in fact a part of the crime family. We have simply reached the stage of the game where it is governments turn to play patsy in order to fleece the taxpayer sheep.

The destruction of the economic system is not one thermonuclear bomb going off but hundreds of smaller tactical neutron nucs strategically placed to kill the people but leave their wealth standing to be absorbed by the core corruption.

Tue, 05/11/2010 - 06:59 | 343040 LeBalance
LeBalance's picture

CD, if I may take slight poetic liscence with your comment and change "fleece" to "kill," I think that is more accurate.  While "kill" is "fleecing" of life, precision in this case would then mean defining "fleecing" as: [all forms of theft].  Precision and absolute clarity are a good thing for some who may read still do not understand that they stand between Scylla and Charybdis [rock and a hard place is just not enough].

Tue, 05/11/2010 - 15:25 | 344274 The Deacon
The Deacon's picture

"between Scylla and Charybdis"

Dude, you ripped that off from a Police song, 'Wrapper Around Your Finger'.  ; D

And there are some worried at the level of intellect on this site, BAH! 

Tue, 05/11/2010 - 08:33 | 343155 moneymutt
moneymutt's picture

we tend to think of the TPTB as monolithic power, but I think there is lots of infighting...in fact its only when they are infighting that we ever find anything out because they expose a bit on eachother...I suspect there will be lots of infighting in next few years...either arguing over how to dived up the loot are arguing about who screwed up the perpetual cash machine..

Tue, 05/11/2010 - 08:34 | 343156 lesterbegood
lesterbegood's picture

Welcome to the World Economic War.

Tue, 05/11/2010 - 08:45 | 343174 Gully Foyle
Gully Foyle's picture

http://www.youtube.com/watch?v=8QxqEALeoVU

STICK UP YOUR HANDS, YOU MUST STAND AND DELIVER,
MY STOMACH'S EMPTY, MY CLOTHES ARE ALL THORN.
OPEN YOUR HEARTS TO THE JOYS OF THE GIVER,
ALL OF YOUR POCKETS ARE TERRIBLY WORN.

THIS IS A HOLDUP, NO WAY TO MISTAKE IT,
WE'RE MEN OF VIOLENCE SO DON'T FOOL AROUND.
IF YOU HAVE MONEY, WE'RE GOING TO TAKE IT,
YOU'LL TRY AND STOP US, YOU'LL END UNDERGROUND.

WHEN WE HAVE YOUR MONEY, WE'LL RIDE TOWARDS THE SUNSET.
AT ROSA'S CANTEEN WE'LL STOP AT THE DOOR.
WE'LL SPEND ALL YOUR MONEY JUST GETTING THE NOSE WET,
TOMORROW EVENING WE'LL BE BACK FOR MORE.

SO HAND US THE MONEY, DON'T STAND THERE AND SHIVER,
TAX TIME IS COMING, GIVE ALMS TO THE POOR.
OR I´LL PUT A BULLET RIGHT THROUGH YOUR BEST LIVER,
WEALTH IS DISEASE AND I AM THE CURE.

WHEN WE HAVE YOUR MONEY, WE'LL RIDE TOWARDS THE SUNSET.
AT ROSA'S CANTEEN WE'LL STOP AT THE DOOR.
WE'LL SPEND ALL YOUR MONEY JUST GETTING THE NOSE WET,
TOMORROW EVENING WE'LL BE BACK FOR MORE.

SO HAND US THE MONEY, DON'T STAND THERE AND SHIVER,
TAX TIME IS COMING, GIVE ALMS TO THE POOR.
OR I´LL PUT A BULLET RIGHT THROUGH YOUR BEST LIVER,
WEALTH IS DISEASE AND I AM THE CURE,
I AM THE CURE,
I AM THE CURE,
I AM THE....

Tue, 05/11/2010 - 07:06 | 343046 Alexandra Hamilton
Alexandra Hamilton's picture

Who controls the governments? Is it the people who elected them or is it the corporations? If it is the latter, who will win if the governments win?

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