EURUSD Plunging On News European Aid Package In Jeopardy

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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


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
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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.



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:

or this:

or this:


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


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
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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."


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?


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.",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 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

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


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

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