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German "Reform" About To Whack FX Market: FinMin Says Likely To Ban EUR Derivatives That Don't Hedge vs FX Risk
The latest bombshell: German Finance Ministry now saying it will likely Ban EUR derivatives that don't hedge against FX risk. And good luck quantifying what FX risk is legally allowed to be hedged. Look for the EURUSD market not to plunge, but to simply shut down as a result of this. Europe is about to isolate itself from capital markets entirely.
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WHAT IN THE FUCK ARE THEY DOING???
Tomorrow, May 19th is the innaugural celebration of the new and soon to be annual Greek Independence Day !
Default cocktails will be served, and there will be lots of dancing...namely, the restructuring waltz.
The Germans just telegraphed us an invitation.
Freaking the markets to implode TBTF companies again, then consolidate more wealth via a transfer from the peasants to the banksters.
easy ;)
Failing.
Epically.
did this guy eat paint chips as a kid?
"Europe is about to isolate itself from capital markets entirely."
Good for them. It's only fraud anymore anyways.
exactly, isolation from the capital markets is a good thing. Maybe we'll all be speaking German after all.
HMMM, interesting. Will I be sorry because I transfered all my euro funds to $ funds? I guess not :)
This is just to much, they really want to let the derivate market implode?
What's the goal?
And as they always act to late, it seems to me we're into something real interesting these next few days.
Maybe, they have come to terms with the fact that the only way to end this worldwide is cause the CDS market to implode and do what I have been saying for a while now, default all debts, cancel all debts, reset, worldwide. Otherwise, the ship is just sinking faster and faster each day that passes.
Here here! Mass default to crush the financials via their derivatives and their industry can learn to serve production once again, not control.
Next rule: You cannot sell a stock, currency or bond unless there has been ten consecutive upticks, and then only with the express written permission of Angela Merkel.
I had a feeling this was coming....and now its here. Full on scale assault. The pre-requisite for physcial war is financial war. Who blinks first?
Bernanke, with all his cowardly moves, just showed the world how stupid he really is after all.
Maybe they're jumping ship
The first rule of capital flight club is YOU DO NOT TALK ABOUT CAPITAL FLIGHT CLUB.
+++win
More strength for the USD. Oops.
Whomever(Bernanke LOL) is trying to buy EUR at 1.2250 to keep it above that level is about to get steam-rolled into a 6-foot grave. You don't stand in front of a falling boulder.
"Europe is about to isolate itself from capital markets entirely."
That´s the aim, I think.
Is Goldman currently bullish or bearish on the Euro; I forget...
Shutting down aint plunging?
I guess not, 1.2248
-1.14% on the day
No, this can go for ever (sarcasm off)
Even if someting would go down 99,9%, it's still possible for it to go down another 99,9% the very next day :)
I copied one of Harry's trades and had that exact experience last week. I may be in for a three-peat this week.
Guys, do you think there could be bad news coming in the Eurozone, which is why they are taking these steps right now? This move seems so random, there's no real need for it, unless they are doing it now because they know there's going to be some bad shit coming down the pipeline....
Governments always act to late, or they act in a way that is not sufficient to counter the HUGHE problem ahaid and the actions they take are panick reactions!
1. Look for the CDS's where there is the most action in RIGHT NOW!
2. Look up COLLATERALIZED DEBT OBLIGATIONS AT BNP PARIBAS OR SOCIÉTÉ GÉNÉRAL AND BUY THEM!!
3. WHY ARE YOU STILL READING THIS!! DO IT!
Go Gold!
Funny note:
The first CDS every created was when the Exxon Valdez broke up and created that big oil spill in Alaska. Exxon made the deal with Morgan Stanley I think.
And soon the last CDS ever created will be during the BP oil spill.
COINCIDANCE?! I THINK NOT!!
The best part is watching Goldman lead the charge down.
duplicate
Good, maybe you guys will actually have to get a real job....
This is being done on purpose, must be.
wow, the euro
Sorry, for some reason every time I post it doubles...that's new.
I FOUND IT!!! I FOUND IT!!!
OKÉ HERE IT COMES:
The RUMOR has it that Germany just got a first sight on their housing and commercial real estate market in Germany. The RUMOR is that this is down 17%!
They are just now going to get what America got 3 years ago! BAD BADDER BADEST!
That doesn't make sense to me, there was never a housing bubble here. Property prices have maybe gone up 2-3% since 1998 much the same as wages. Most people rent here rather than buy, there is not really a strong rent-your-own-home culture like in the US.
Most construction in private and CRE has been in the former DDR and that is winding down too.
So I don't understand how property can suddenly lose 17% when it wasn't overvalued in the first place. If anything, it should be undervalued.
The difference between selling price and future value price (10 years)
A good example : Eurocastle
Ah, ok, thanks
Damn! I didn't know the thing was loaded..
EUR/USD bouncing on 1.2201
Give it up, guys, it's starting to look silly. The helicopter is on the roof, time to go.
I hope you have your golden ticket because there isn't enough room for everybody ;)
Screw that. I've got an RPG. Once the chopper is full of bankers and just clear of the roof I'm lighting the bitch up.
Good luck Rambo, may God forgive you and the Devil give you fire!
http://thumbnails.truveo.com/0002/30/20/3020C34369BA41BB66CD28_Large.jpg
Everytime some government bans short selling, the exact opposite of what they want happens. Yet, they never learn....
I'm totally in favour or shutting down the whole CDS casino market, but as many others here this unilateral, out-of-nowhere decisions create useless panic and seem more like an act of war than part of a plan to reform our corrupt capital markets.
This fact support my suspect that a battle is ongoing between US and Europe over financial regulation. First americans destroy Greece,and now Germany strikes back.
Don't get me wrong,anyway: Greece is in a self-digged grave, but there are many other countries that could have de facto defaluted, suffice a kick off in the credit market.
It may also be that european banks were vampirizing their own continent under the shield of moral hazard, and with the infamous ECB decision the would have been proven right.
If something's price is falling, someone must be selling.
This is rapidly becoming one epic Greek tragedy.
They are not going to wait for Katla to end this, eh?
Good call on the EUR/USD cross, it is camping at 1.221.
This is being very well executed by the Germans. Get the US, via the IMF, to pay for Goldman Sachs' illegal activity of assisting Greece to circumvent the Maastricht Treaty budget deficit limits. Then introduce Euro QE to add liquidity to the market. Finally, ban naked shorts to reduce market volatility. The Germans are grooming the financial battlefield in their favor vs. the Anglo (US & British) speculators. The Germans are building a Euro fortress. I would also expect capital flow controls in the near future to stop the US speculator capital movements from causing volatility.
Germany ≠ Europe ≠ UK
Pretty bold move on their part Celsius, pretty bold. They either know something is coming (but if thats the case why isn't other countries following suitj), there housing market as one poster put it is truly down 17%, or they are setting up the battlefield and making sure that they are firewalled against the massive contagion that is about ot be unleashed (Wasn't it 2 weeks ago that 1 trillion was introduced, seems like it wasn't enough).
I will say it again the Germans will NOT allow us to drag them with us into a hyperinflationary spiral. They do not suffer media induced amnesia like we do and the last time they had an inflation it ended disasterously. They won't do it. If this is the only way they have to FORCE us to play it straight for once then so be it. They are done with our casino capatilism and we can just take our CDOs and CDSs and play with them ourselves. Let's see how that works out. Starting tomorrow the American banking oligarchs will start executing the german financial hostages in a show of ruthless determination to prevail to with the germans will toughen and turn their markets East. Oil and gas from Russia and unlimited machine tools for Russia and China in return. If it degrades further NATO disolves. If we get too rough they nationalize. It's going to be ugly and in the long run I think they win. Good for them by the way. Someone had to tell these self absorbed idiots that the banks exist for the people not the other way around.
killing off forex would make a ton of people do something more useful and make doing it cheaper since the parasites would die out too.