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EURUSD Plunging On News European Aid Package In Jeopardy

Tyler Durden's picture




 

By now everyone is aware that the G20 meeting failed to come to a consensus vis-a-vis strategic rescue approaches on the global bailout, with Tim Geithner pushing for uber-Keynesianism, while a far more prudent Europe saying enough to record deficits, and in essence potentially putting the end to the avalanche of endless bailouts and the Bernanke Uber-Put. At least such is the case until tomorrow when Europe's bureaucrats wake up and see a EURUSD at a level that rounds down to 1.10. The reason: Der Spiegel reports that Germany's high court is considering blocking Germany's participation in the European rescue package, a development which if it were to come to pass, would send the euro plunging to parity not with the dollar but with zero.

Translated from German:

The Federal Constitutional Court, order against the euro rescue to adopt an interim measure. This would allow the court provisionally prohibit the federal government to guarantee loans to enable the German. Against the rescue package are constitutional complaints against several.

The President of the Constitutional Court, Andreas Vosskuhle had to Gauweiler complaint, according to information of the SPIEGEL explicitly asked for opinions of different jobs: He led them to the Federal Government, the Bundestag, the Federal President, all state governments, the European Central Bank and the German Bundesbank and asked for feedback. It is Vosskule a request for interim relief, the Gauweiler associated with its application has. Gauweiler has brought in Karlsruhe already against the Treaty of Lisbon complaint. Disturb him, "that is further given unchecked power to EU bodies.

The German government warned that an interim order could lead to a "self-fulfilling expectation of default" by Europe's troubled states. As readers will recall, all it takes is for a country sovereign debt spread to to widen to 5% over Bunds, for them to have an "out" from the EU rescue package, a loophole most will surely take advantage of eagerly as soon as the market processes this latest development. All in all, another week of pain for Europe approaches, and of even greater pain for the US manufacturing sector, which paradoxically was the only one to materially add new jobs in the latest NFP report.

 

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Sun, 06/06/2010 - 20:07 | 398510 Thisson
Thisson's picture

That's ok, the US manufacturing sector will benefit when we have our own domestic devaluation - coming soon to a Federal Reserve Bank near you.

Mon, 06/07/2010 - 02:14 | 399100 dpr10
dpr10's picture

noone will benefit as not many will be buying anything in that environment..maybe only in the long run...

Mon, 06/07/2010 - 05:53 | 399204 Greed
Greed's picture

Indeed, no one will benefit from Mr. Gauweilers action except his reputation as an extraordinary expensive lawyer. I come across his vast office complex every other day. 

Obviously there is no legal way for the Bundesverfassungsgericht to declare an interim injunction.

As it was clearly stated in the article, the Bundesregierung advised the court that the decision to help Greece was not a legally binding agreement, but only a declaration of political will. 

This loophole has occasionally been used in the past to avoid similar trouble. It always prooved succesfull. It will be the same this time. 

Anyhow, everybody just keep on bashing the european project. Make your bucks and be happy, there are nice profits to be made. If you believe Europe will be seewing Chines T-Shirts soon, its your good right to do so. Many friends of mine say, the most succesfull US-company that appeared on the german market in the last years was American Apparell. Producing T-s vertically integrated, we all love it. 

Sun, 06/06/2010 - 20:08 | 398511 DosZap
DosZap's picture

Tyler,

I think you nailed it........Germany is not about to sacrifice itself on anyone's altar.Much less, destroy itself with QE to infinity.........for Someone else.

If this comes about, Sarkozy will Shite himself..France will be SOL,and it rolls downhill from there.......

 

Sun, 06/06/2010 - 20:15 | 398522 SWRichmond
SWRichmond's picture

EUR/JPY is taking it in the shorts, too.

Sun, 06/06/2010 - 20:17 | 398523 Mitchman
Mitchman's picture

The yen loss is double that of the dollar.  What do you think the Nikkei looks like when it opens?

 

Sun, 06/06/2010 - 20:24 | 398535 Busy-Body
Busy-Body's picture

Check out the current tell-tale cross of AUD/JPY - 74.28 down 1.38 or -1.84%

Sun, 06/06/2010 - 20:22 | 398533 zen0
zen0's picture

Sarkozy shouldn't have used his Banty-rooster act with Merkel. The bitchez cave initially, but then they stay up all night thinking about how to f8k you up, and smile while they do it.

Sun, 06/06/2010 - 21:01 | 398613 Itsalie
Itsalie's picture

Now why did I question myself when French bonds and CDS spread widen last week? And Telegrapg reported UK economists suggesting the euro might not survive the end of the year? Maybe it wasn't the Socgen rumour afterall. Wait till sarko wakes up and read the newspapers, excitement must be intense as the days leading up to Lehamn Day and hedgies in Bangkok massage parlours are recalled the weekend to reset their bots ...  who will blow up (we know the countries, but which hedge funds? PIMCO? and JPM/Buffett and their derivatives), who will default, who will quit the euro, which would be the collateral damage, who will print money, who will jump?

 

Sun, 06/06/2010 - 22:11 | 398758 caconhma
caconhma's picture


Massacre in Czechoslovakia Newly Discovered Film Shows Post-War Executions

It has long been known that German civilians fell victim to Czech excesses immediately following the Nazi surrender at the end of World War II. But a newly discovered video shows one such massacre in brutal detail. And it has come as a shock to the Czech Republic. By Jan Puhl more...

 


It has long been known that German civilians fell victim to Czech excesses immediately following the Nazi surrender at the end of World War II. But a newly discovered video shows one such massacre in brutal detail. And it has come as a shock to the Czech Republic.

For decades, the images lay forgotten in an aluminum canister -- almost seven minutes of original black and white film, shot with an 8 mm camera on May 10, 1945, in the Prague district of Borislavka during the confusing days of the German surrender.

 

The man who shot the film was Jirí Chmelnicek, a civil engineer and amateur filmmaker who lived in the Borislavka district and wanted to document the city's liberation from the brutal Nazi occupation. Chmelnicek filmed tanks rolling through the streets, soldiers and refugees. Then, at some point, his camera also caught groups of Germans, who had been driven out of their houses and into Kladenska Street by Red Army soldiers and Czech militiamen.

 

Chmelnicek's film shows how the Germans were rounded up in a nearby movie theater, also called the Borislavka. The camera then pans to the side of the street, where 40 men and at least one woman stand with their backs to the lens. A meadow can be seen in the background. Shots ring out and, one after another, each person in the line slumps and falls forward over a low embankment. The injured lying on the ground beg for mercy. Then a Red Army truck rolls up, its tires crushing dead and wounded alike. Later other Germans can be seen, forced to dig a mass grave in the meadow.


A Shock to Czechs

The shaky images show an event that has been described again and again by eyewitnesses and historians: the systematic killing of German civilians. Yet the film comes as a shock to Czechs. "Until now, there was no footage whatsoever of such executions," says Czech documentary filmmaker David Vondracek, who showed the historical images on television. "When I watched this for the first time, it was like seeing a live broadcast from the past."

The only such images known before were taken by a US Air Force camera team. That footage showed injured Germans lying on the ground in Plzen, in what was then Czechoslovakia, in early May 1945. The images included some dead bodies, but they didn't show a liquidation, from beginning to end, like this one.

Vondracek's documentary about Czech atrocities, called "Killings, Czech Style," aired during prime-time on Czech state television just two days before May 8, the anniversary of Nazi Germany's surrender. The broadcast marks yet another milestone on the Czech road toward confronting a not-always-comfortable World War II past -- a path the country has been working its way down for years.

 

PS

Are there any reasons why Germans must bail out these bastards?

Mon, 06/07/2010 - 02:31 | 399108 EscapeKey
EscapeKey's picture

I won't say this is right, but I don't understand your final comment.

First off, the Czech economy is actually very strong, and doesn't need a bailout.

Second, the local currency is the Koruna, not the Euro.

And finally, it's hardly as if the Germans didn't resort to similar methods during the war.

The war finished 65 years ago. Can we let it go now?

Mon, 06/07/2010 - 07:20 | 399257 kaiten
kaiten's picture

Killing of innocents is always a tragedy, but these events didnot come out of sudden.They came after horrors of WWII started by nacist Germany.

Most likely it was a retalation for this:

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

or this:

http://en.wikipedia.org/wiki/Lidice#Massacre

or this:

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

 

So before you start calling others bastards, perhaps you should first look into the mirror. 

 

Sun, 06/06/2010 - 20:08 | 398512 Dingus
Dingus's picture

Ha ha

Sun, 06/06/2010 - 20:08 | 398513 docj
docj's picture

What's the over/under on how many nanoseconds after the market opens on Monday will it take for the NYSE to invoke "Rule 48"?

Sun, 06/06/2010 - 20:12 | 398518 Translational Lift
Translational Lift's picture

NYSE to invoke "Rule 48 BEFORE market opens.....

Sun, 06/06/2010 - 21:03 | 398616 AndItsGone
AndItsGone's picture

They will invoke Rule 48 and execute Order 66.

Sun, 06/06/2010 - 20:27 | 398542 HarryWanger
HarryWanger's picture

Nah...EUR will miraculously rally back above 1.20, Hungary changes their mind, BP somehow can spin positive news out of the oil cap, etc., etc. Oh, and don't forget Apple tells us tomorrow that they implanted iPads in every newborn. 

I get the feeling by the time I get on my computer in the morning, those futures will be glowing green.

Sun, 06/06/2010 - 20:32 | 398556 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

"Oh, and don't forget Apple tells us tomorrow that they implanted iPads in every newborn."

Harry, I am giving you quote of the day.  Congrats.

Sun, 06/06/2010 - 23:25 | 398905 Arkadaba
Arkadaba's picture

+1

Sun, 06/06/2010 - 20:34 | 398561 cossack55
cossack55's picture

OK, you.  What have you done with the real HW and when can we expect his return.  We will meet your demands of a HP 286 processor and a rotary telephone. 

Sun, 06/06/2010 - 20:38 | 398569 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

I kinda like the new Harry.  He is all sarcastic and dire like the rest of us now, but he still thinks the markets are going up. Classic!

Sun, 06/06/2010 - 21:19 | 398654 akak
akak's picture

HarryWanger 2.0 is SO much more interesting than the original version!

I just may have to re-evaluate my opinion of you, Harry.  Might ZeroHedgeitis have finally claimed its ultimate victim?

Sun, 06/06/2010 - 23:20 | 398891 ColonelCooper
ColonelCooper's picture

Not yet.  Harry down, Leo to go.

Sun, 06/06/2010 - 23:25 | 398903 akak
akak's picture

You HAD to remind me!

Mon, 06/07/2010 - 14:06 | 400072 Cognitive Dissonance
Cognitive Dissonance's picture

"Not yet.  Harry down, Leo to go."

LOL

Made me really laugh out loud. But we need to wait a full 30 days to make sure Harry's conditioning has taken hold and is permanent. Leo's going to need electro-shock therapy. :>)

Mon, 06/07/2010 - 02:06 | 399095 thisandthat
thisandthat's picture

Yes, but what about HW 3G - will he still blend?

http://www.youtube.com/watch?v=qg1ckCkm8YI

Hmm...

Sun, 06/06/2010 - 20:36 | 398564 nmewn
nmewn's picture

The resident masochist.

Sun, 06/06/2010 - 20:52 | 398597 MyFriendMises
MyFriendMises's picture

Harry,  after hearing true sarcasm in that post I just wanted to officially welome you to the darkside.

Sun, 06/06/2010 - 21:39 | 398701 Turd Ferguson
Turd Ferguson's picture

That may be the first HarryWanger post that I haven't "junked".

Mon, 06/07/2010 - 08:55 | 399368 docj
docj's picture

Oh, and don't forget Apple tells us tomorrow that they implanted iPads in every newborn.

Top Shelf, man!  That's some weapons-grade funny there.

Pity my PC crashed and I had to wait until morning for this reply.  Cheers -

Sun, 06/06/2010 - 20:32 | 398554 reading
reading's picture

I am sure they already have...they can just feel the need for it.

 

Sun, 06/06/2010 - 20:34 | 398560 williambanzai7
williambanzai7's picture

I thought Rule 48 is now in perpetual effect. You need to look for the daily Rule 48 suspension notice.

Sun, 06/06/2010 - 21:21 | 398648 Ragnar D
Ragnar D's picture

It's replaced by Rule 12,000, which states "DOW shalt be 12,000".

 

Next will come Rule 4%, a "circuit breaker" for unemployment rates.

And Rule 50,000 to replace the minimum wage.

 

As far as silly things like "liquidity", it'll be like the milk/bread/egg signs in old Soviet states:  "There is no demand for capital or retirement funds today."

Mon, 06/07/2010 - 05:06 | 399183 Oh regional Indian
Oh regional Indian's picture

I had a dream some years ago.

One of the lucid ones. Clear as day.

Look for the day the dow closes at 1241.

After that day, alllllllll downhill.

Can they get it up to there from here?

Youuuuuuuuu betcha!

Sun, 06/06/2010 - 22:55 | 398841 Arkadaba
Arkadaba's picture

They haven't done it yet ;)

Sun, 06/06/2010 - 20:13 | 398519 Duke of Doubt
Duke of Doubt's picture

This article is still not showing up on the Der Spiegel web site.  Anyone able to access an English language version of this report?

Sun, 06/06/2010 - 20:15 | 398521 ratava
ratava's picture

europe needs to kick greece out and establish transaction tax. i got a gut feeling France is blocking both.

Sun, 06/06/2010 - 21:17 | 398651 Ragnar D
Ragnar D's picture

They already have a transaction tax; it's called the 20% VAT.

 

Working great so far...

Mon, 06/07/2010 - 02:19 | 399104 thisandthat
thisandthat's picture

Funny is, it's called value added tax, but isn't actually on the added value at each step in the production/market chain, but on the whole value every time.

Mon, 06/07/2010 - 06:47 | 399240 Sneeve
Sneeve's picture

...which amounts to exactly the same thing

Tue, 06/08/2010 - 04:55 | 401133 thisandthat
thisandthat's picture

Dumb comment - disregard.

Sun, 06/06/2010 - 20:18 | 398528 Muir
Muir's picture

also from Der Spiegel

"Europe is eager to begin paying down sovereign debt. The US wants to see Germany and France continue stimulus measures. With Treasury Secretary Timothy Geithner in Germany on Thursday, the trans-Atlantic differences in fiscal policy have become difficult to ignore."

 

http://www.spiegel.de/politik/deutschland/0,1518,698926,00.html

 

____

This is a cluster*uck for Geithner.

I see a down week for the DOW

 

Sun, 06/06/2010 - 20:26 | 398538 zen0
zen0's picture

Merkel has a strap-on, and she's not afraid to use it?

Sun, 06/06/2010 - 20:30 | 398550 Translational Lift
Translational Lift's picture

Stock up on toilet paper....no....paper towels....no....a pressure washer.....Shit hits the fan tomorrow....

Sun, 06/06/2010 - 20:43 | 398584 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

My friend went to DC and all I got was this lousy poop stain.

Mon, 06/07/2010 - 05:30 | 399193 Augustus
Augustus's picture

Quit using Barney's butt plug 24 hrs a day.  Maybe the injury will heal.  Surgical repair may be required in some cases of excess.

Sun, 06/06/2010 - 21:33 | 398685 butchee
butchee's picture

We all got to duck.....Circle Jerks classic http://www.youtube.com/watch?v=WRK2J0ymZGc&feature=related

Sun, 06/06/2010 - 21:40 | 398703 Translational Lift
Translational Lift's picture

+1

Asia down 2-3% ..........

Sun, 06/06/2010 - 22:10 | 398755 Bringin It
Bringin It's picture

Nikkei down 4%!

Mon, 06/07/2010 - 06:39 | 399232 Amsterdammer
Amsterdammer's picture

The German Constitutional Court did not veto bailout 1.0

( Greece ) I see very little reason they would veto

Bailout 2.0.

Your Spiegel quote refers to Tiny Tim's visit to

Scháuble, where they locked horns, Germany

has been hassled for months, and most publicly

by the French Finance minister about their surplus

-country status, they are not about

to be down on that one. Germany has of late

created 160 000 jobs in the past two months.

Headlines in the Handelsblatt Saturday were:

Geithner: Forget American Demand

Sun, 06/06/2010 - 20:21 | 398529 Yardfarmer
Yardfarmer's picture

Jim Willie has an interesting commentary on this @ http://www.gold-eagle.com/editorials_08/willie060310.html

Sun, 06/06/2010 - 20:29 | 398530 nonclaim
nonclaim's picture

Euro parity with dollar or zero are not mutually exclusive.

all it takes is for a country sovereign debt spread to widen to 5% over Bunds

If that is written down it means, in the limit, that Germany will have to rescue everybody before they can rescue themselves... Insane is the word for it. The court has to refute the document *and* persecute all that signed it.

Sun, 06/06/2010 - 20:23 | 398534 breezer1
breezer1's picture

the sun is getting blocked by swarms of black swans. europe is going into another dark ages. we are next.

Sun, 06/06/2010 - 20:27 | 398541 Muir
Muir's picture

Nice imagery

Sun, 06/06/2010 - 20:38 | 398568 cossack55
cossack55's picture

Actually, there are two large coronal holes facing earth, the NOAA sunny types have an "unscheduled" meeting in DC on Tuesday (when the solar wind hits earth), and I hope you have backup power. 

Sun, 06/06/2010 - 20:42 | 398577 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Too cryptic, more detail please.

Sun, 06/06/2010 - 21:37 | 398695 Ataraxia
Ataraxia's picture

Saying something and not giving a reference is useless...

 

http://science.nasa.gov/science-news/science-at-nasa/2010/04jun_swef/

Sun, 06/06/2010 - 22:54 | 398837 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

That was badass!  Thanks!

Oh and solar flares are coming, oh yes, they are coming.  My reference?  Kaku.

Sun, 06/06/2010 - 23:13 | 398880 Arkadaba
Arkadaba's picture

like the imagery too

Sun, 06/06/2010 - 20:27 | 398543 Mitchman
Mitchman's picture

AUD getting whacked against USD down 1.25%

Sun, 06/06/2010 - 23:00 | 398853 ElvisDog
ElvisDog's picture

I tell you what though, if the AUD overshoots and goes below 0.7 relative to the dollar, I'm going long AUD.

Sun, 06/06/2010 - 23:22 | 398896 Iam_Silverman
Iam_Silverman's picture

That could be a good call.

How can a country so rich in resources take such a beating in the global FX frenzy?

Mon, 06/07/2010 - 05:14 | 399186 Oh regional Indian
Oh regional Indian's picture

Iam,

Simple enough answer to that one.

Because this market does not reflect reality.

Sun, 06/06/2010 - 20:32 | 398555 zen0
zen0's picture

So when the Euro becomes a relic, are we back to the traditional tri-lateral Yen/USD/DEM merry-go-round, or what?

Sun, 06/06/2010 - 20:35 | 398558 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Infinite spending from the US, Europe cutting back, and this is bad for the Euro?  The dollar is a dead currentsea!  Iran, you will be so pissed you sold those Euros, mark my words.

Sun, 06/06/2010 - 22:19 | 398771 Muir
Muir's picture

One poop at a time is the rule.

Sun, 06/06/2010 - 22:56 | 398843 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

"Fifth rule, one poop at a time fellas."

LOL!

Sun, 06/06/2010 - 20:38 | 398563 john_connor
john_connor's picture

Entropy never decreased, it just passed from one system to another.  In this case the system doesn't have a dedicated printing press and the ECB can not legislate.  There was never really a "Treaty of Brussles" on May 9.  EPIC FAIL.

Sun, 06/06/2010 - 20:39 | 398572 cossack55
cossack55's picture

I think "branched" rather than "passed".

Sun, 06/06/2010 - 20:41 | 398574 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

spread; sounds disease like.

Sun, 06/06/2010 - 20:39 | 398573 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

How did they not see this coming???  Someone over there better start reading Reggie.

Sun, 06/06/2010 - 20:46 | 398588 MountainHawk
MountainHawk's picture

Damnit...not good news...went long on apple over the weekend

Sun, 06/06/2010 - 22:20 | 398778 Muir
Muir's picture

Bad, bad hawk.

Go sit in the corner.

Sun, 06/06/2010 - 21:00 | 398610 Jake3463
Jake3463's picture

Basically the Cold War alliance is falling apart and every man for himself.

Fuck the world isn't flat.

Sun, 06/06/2010 - 21:22 | 398662 akak
akak's picture

The Cold War is ancient history.

Welcome to the Gold War.

Sun, 06/06/2010 - 23:47 | 398962 Arkadaba
Arkadaba's picture

Thanks - I always hated Thomas Friedman and the world was flat - knew the conception was flawed

Sun, 06/06/2010 - 21:07 | 398626 exportbank
exportbank's picture

Inflation is a very hated word in Germany - the chess game is now more interesting.

Sun, 06/06/2010 - 21:07 | 398627 frog
frog's picture

this is funny to see that some persons ignore, here, on a site of "awared" persons about finance businesses, that Merkel, while telling us  about the german ban on short sellings, was hidding the fact that her banks were betting on the Greece debt loans defaulting, and on the euro falling,  since the beginnings, just to fill her banks with cash, because they are on the verge of being pulled into the debt abysses too. A good bargain for her exportations too

http://www.youtube.com/watch?v=I77UwYM-884

http://seekingalpha.com/article/205794-der-tarp-germany-is-hiding-a-big-banking-problem

http://finance.yahoo.com/banking-budgeting/article/109581/are-german-banks-short-the-euro

http://www.marketoracle.co.uk/Article19771.html

http://www.nakedcapitalism.com/2010/05/germany-just-another-weak-man-of-europe.html

 

 

Sun, 06/06/2010 - 21:07 | 398628 DanteAllemis
DanteAllemis's picture

Good Post. Thanks.

Sun, 06/06/2010 - 21:30 | 398679 taraxias
taraxias's picture

participate in the markets????

what markets????

wake up ashalt the jig is up

Sun, 06/06/2010 - 21:32 | 398683 SamThomas
SamThomas's picture

No need to get personal.  Not nice.

Sun, 06/06/2010 - 21:34 | 398688 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

I junked you.

Sun, 06/06/2010 - 23:30 | 398915 ColonelCooper
ColonelCooper's picture

As did I. And raising you one:

Douche.

Sun, 06/06/2010 - 21:40 | 398697 akak
akak's picture

I guess it's true -- the truth DOES hurt!

We'll forgive you your pouting and little-girl screams after evidently getting bitten in the ass by it.

Sun, 06/06/2010 - 21:42 | 398708 Archangel
Archangel's picture

So why are you here then?

Sun, 06/06/2010 - 22:18 | 398767 TexDenim
TexDenim's picture

I have found more information on this site that is not available elsewhere than anywhere else on the internet. I don't care about fair and balanced (I'll form my own opinions), or whether the editor inhales. It seems to me that this is use of the net in the finest way imaginable.

 

Also, don't forget that some really great journalists had axes to grind (think of H. L. Mencken) and were spurred as much by anger and hurt feelings as they were by love. The quality of the product is what counts.

 

 

Sun, 06/06/2010 - 22:23 | 398788 Muir
Muir's picture

+100

sounds like sour grapes to me (or he just wanted to get a reaction out of us)

Sun, 06/06/2010 - 23:04 | 398860 lizzy36
lizzy36's picture

How hypocritical is to go after Tyler, and ZH, when you yourself produce nothing to refute any of the 5000+posts contained herein? 

Here is an idea.  Instead of bitching about Tyler, and the content contained herein, why don't you start your own blog.  I assume you can produce the fair and balanced content you so desire (after all, you seem to have excellent critical reasoning skills). 

Call it ZeroReaders2.0.com.

 

Sun, 06/06/2010 - 23:26 | 398908 Iam_Silverman
Iam_Silverman's picture

But will it be as popular as Liberal Talk Radio?

I'd go long on that! (not really).

Sun, 06/06/2010 - 23:34 | 398923 clickjaw
clickjaw's picture

First, which Tyler? As far as I can tell, for the amount of information he gathers and publishes, there must be a small army of Tylers publishing under one Pseudonym.

Second, Tyler could have raped goats in front of kid's with terminal leukemia, it wouldn't change the quality of information he (they?) publishes (most of which has been correct).

Sun, 06/06/2010 - 23:36 | 398932 msjimmied
msjimmied's picture

Just for that, when we bring on the guilottine, we will chop your nuts off first, and then go for the head. Now, go back to FOX.

Mon, 06/07/2010 - 00:05 | 398987 russki standart
russki standart's picture

Hey Fuckface, if you don´t like it here, get out! Foxnews, as a source of info is about as useful as tits on a nun. Tyler may haved done on a minor level, what world class criminals such as GS do every day. The difference is that GS owns the sockpuppet known as Obama and can easily make him squawk when any regulator fails to understand that their job it to kowtow to the powerful whilst hammering the weak. Or do you really believe that the SEC, NASD etc actually protect investors?  GS controls the mainstream media! Only here, and on a few other sites, do we actually garner unfiltered, raw info from humanoids on the front line. Go buy some vaseline and mouthwash and make the GS exec team happy. We don´t need your BS.

Sun, 06/06/2010 - 21:30 | 398680 Roger O. Thornhill
Roger O. Thornhill's picture

I sense this could be the beginning of a real drop. The G20 news has the sound of real discord and trouble among da boyz.

Am I wrong - maybe. I have most of my ducks in a row - at least enough if this is the start. 

Sun, 06/06/2010 - 21:40 | 398702 cowdiddly
cowdiddly's picture

2 years ago I went on a cruise that had a week in greece . Those snob bastards were looking at my USDs and pointing their nose up and demanding that I have euros. LMFAO I wish I had the money to go back now and wipe my arse on their POS currency.

Sun, 06/06/2010 - 22:22 | 398782 PhattyBuoy
PhattyBuoy's picture

No paper currency is "safe" going forward, especially the dollar.

What goes around, comes around ... you can count on it !!

Mon, 06/07/2010 - 05:56 | 399206 mephisto
mephisto's picture

You really got off a cruise ship and complained they wouldnt take USD in Greece?

O they definitely pissed in your beer, no doubt about it.

Sun, 06/06/2010 - 21:48 | 398719 Turd Ferguson
Turd Ferguson's picture

Just a hunch but I think the criminals that run the Crimex are starting to get very very nervous. They've always worked diligently to cap gold but, lately, they're getting far more blatant and obvious. The shenanigans of May were awful to watch. This past Friday was almost larceny before market forces overwhelmed them. Tonight is simply amazing.

Any chance JPM gets to wash back gold when volume is light, the take it. Assholes.

Sun, 06/06/2010 - 21:56 | 398735 TexDenim
TexDenim's picture

See also this story in the English language edition of Der Spiegel:

 

http://www.spiegel.de/international/germany/0,1518,698378,00.html

Sun, 06/06/2010 - 21:58 | 398737 TexDenim
TexDenim's picture

This was not the US Treasury version of the meeting, ha! (from the Spiegel piece cited in previous post):

 

"The Americans don't like the plans. The atmosphere was decidedly frosty at a meeting last week in Berlin between US Treasury Secretary Timothy Geithner and German Finance Minister Wolfgang Schäuble, because the two men fundamentally disagree. Geithner urged the Europeans to spend more and to run up debts to boost economic growth and help the global economy. Schäuble countered that high debts were the root of the turmoil now engulfing the euro zone. "

Sun, 06/06/2010 - 22:02 | 398743 Boop
Boop's picture

Well, that was a nice 150 pip drop!

Sun, 06/06/2010 - 22:12 | 398760 johngaltfla
johngaltfla's picture

IF that judge tosses this out, the markets get introduced to a new technical analysis term:

PLUNGER RAPE

Sun, 06/06/2010 - 23:01 | 398855 Deflationburger...
Deflationburger with Fleas's picture

Had a short on for the past two weeks.

 

Put my entire account in SDS on the close friday.  This could be a kickass week for yours truly.

Sun, 06/06/2010 - 23:57 | 398985 zhandax
zhandax's picture

No one has mentioned the funniest headline of the weekend; in a sign of just how fucked up the world has become, al jazeera is covering the Bilderberg conference. http://www.guardian.co.uk/world/blog/2010/jun/04/bilderberg-charlie-skel...

Mon, 06/07/2010 - 03:22 | 399125 Mark Beck
Mark Beck's picture

So what is the real G20 message here. Perhaps;

The prudent action of a sovereign nation unable to pay its debt, is to default.

Responsible fiscal action is to repudiate bad debt. Do not waste resources on perpetuating investment in bad debt.

Do not enslave your people in debt servitude to pay for another countries bank profits.

----------

The message is clear; let Greece, or who ever else can't pay, default.

Now, do they have the guts???

Mark Beck

Mon, 06/07/2010 - 06:45 | 399237 Tense INDIAN
Tense INDIAN's picture

when is the court decision coming...date???

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