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Housekeeping And Open Thread
Zero Hedge updates over the next 12 hours will be sporadic as we temporarily shift operations to Europe for closer coverage of the European bailout over the next week or two. We hope to conduct on the ground reporting from Central Europe and at least a few of the PIIGS countries, with Greece certainly playing a prominent role in the itinerary. Once situated, we will resume coverage of relevant events as usual. If readers have any specific focal issues that should be covered (Goldman-led Hedge Fund delegations trying to evaluate the fourth-lien value of the Parthenon, etc.) we are happy to consider and incorporate into our agenda. In the meantime enjoy the taxpayer subsidized, risk-free meltup.
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Please show the 7yr auction data for today, Tyler. Direct Bidders on vacation. LOL
How about contagion in Hungary and the former Soviet spheres. I've heard Budapest is a nice place to visit.
+1 re: Budapest
GRRREAT place to visit. Just avoid so-called 'gentlemen's club's', and do keep one eye on Katla while you're over there -- though there are worse places to be stuck while weathering ash-clouds.
Why?
A significant portion of the ones I am aware of have enforced (but non-disclosed) bottle service requirements, 10-100x inflation of drink prices upon receipt of bill, and large, bald guys with baseball bats available to escort you to the nearest ATM should you find yourself short the few $K they claim you need to cover the tab.
Things may have changed since I last checked, but use of trusted local guide is prudent -- plus any half-decent regular dance clubs will yield better-looking, equally undressed females at a fraction of the price. IMHO.
Safe flight!
Don't forget your papers TD.
I'll be looking for the ZH t-shirts on CNN Int'l ;)
Happy trails. Bon Voyage. Sayanarrrrrrah. G** speed.
I suspect Tyler and company are on the hassle-before-flying list.
+1
Open mic, sweet.
Yo DJ, spin something appropriate will ya?
Boom!
Sabotage - Beastie Boys
http://www.youtube.com/watch?v=z5rRZdiu1UE
I Can't Stand It, I Know You Planned It
I'ma Set It Straight, This Watergate
I Can't Stand Rockin' When I'm In Here
'Cause Your Crystal Ball Ain't So Crystal Clear
So, While You Sit Back And Wonder Why
I Got This Fucking Thorn In My Side
Oh My God, It's A Mirage
I'm Tellin' Y'all It's Sabotage
"So what'cha what'cha what'cha want (what'cha want?)?
A you're so funny with the money that you flaunt (that'cha flaunt)
Where'd you get your information from huh?
You think that you can front when the revelation comes?"
Beastie Boys- So What'Cha Want:
http://www.youtube.com/watch?v=KzaFGMQRBfs
na, sounds of silence - bb's
http://www.youtube.com/watch?v=CCc33KtP0ng
Whats the sample? ;)
http://www.youtube.com/watch?v=XTUi9l84fRw
no
Beastie Boys- So What'Cha Want: that really makes me smile and dance.
No sleep till Athens ....
No sleep till Athens ...
No sleep till Athens ...
No sleep till Athens...
No sleep till Athens...
Tyler et al, make sure you chase some Girls!
http://www.youtube.com/watch?v=GoFB2R_AUwM
damn those white beasties, were brilliant hip hop boys†
oh, i realize i misplaced silence for science, and lennon replied so can't change.
sound of science.
darn.
There must be a spring beer fest somewhere over there!
13:02 04/29 US TSY 7-YR: DIRECTS TAKE 12.21% OF COMPETITIVES-MNI
13:02 04/29 US TSY 7-YR: DEALERS TAKE 28.29% OF COMPETITIVES-MNI
13:02 04/29 US TSY 7-YR: INDIRECTS TAKE 59.50% OF COMPETITIVES-MNI
13:01 04/29 US TSY 7-YR NOTE: INDRECTS TAKE $19.020 BLN OF COMPETITIVES
13:01 04/29 US TSY 7-YR NOTE: DIRECTS TAKE $3.902 BLN OF COMPETITIVES
13:01 04/29 US TSY 7-YR NOTE: DEALERS TAKE $9.042 BLN OF COMPETITIVES
13:01 04/29 US 7-YR NOTE MEDIAN 3.140%, LOW 3.096%
13:01 04/29 US 7-YR BID/COV 2.82 (PREV 2.61); NONCOMPS $36 MLN V $46 MLN
13:01 04/29 US TSY 7-YR NOTE HIGH YLD 3.210%(PRV 3.374%);ALLOT 93.61%
I already transfered about 90% of my cash into $ and American stocks only, that was last week ago.
ZH is gone shopping for T-54s
Open thread? Hmmmmm........
OK, here I go..........
The next step, the one that has followed the Jobs program, the Health Care bill, the Census, the Hollywood Futures Index, is to break up the banks. Then revalue the YUAN, then have Facebook go public (FB is the beast! Baphomet, ok?). Virtual currentseas "fuse" with the doelarr, and Hyperinflation will be in full. Dominoes!!! Set sail now!!! Buy silver and gold bullion coins now!!! Do not try to analyze by thinking, 'We are due for a correction, and I will wait for gold to drop to $900 an OZ." Get some silver slippers, or you will never find your way home.
Gold posts gold posts gold posts please please please.
Open threads daily? Gold and silver daily? And updates on "The Hills", as I do not have cable currently.....
Peak oil, peak gold, peak silver, peak water, peak food, peak everything!
If you got it, hold it. If you don't have it, don't wait for it. Get in the boat now! We have room!!!! We are leaving now!!!!!! Technically we left, but swim out, we are just offshore, we will throw you a line.
http://www.youtube.com/watch?v=srx-Wf5KrzQ
http://www.youtube.com/watch?v=kr8-E8may2Y
Tyler and ZH staff a very appropriate song for ya.
CB:
Nice song, but it has already been appropriated as a theme by sports talk-radio host Jim Rome - whose "Jungle" is the ZeroHedge of the sports world, of which he is their Tyler Durden.
Whoever flagged Guns n' Roses - Welcome To the Jungle as junk....
Don't walk down my street, or I'll beat you with a lead pipe and put your body in a hole filled with lime.
"All I need to party is a twelve pack, 'Appetite for Destruction', and my shotgun." Quote from my friend Stoney. No, he doesn't smoke weed.
Personally I think some old Zeppelin definitely hits the nail on the head.
When the Levee Breaks.
Now there is some good old bluesy rock that gets you ready for the coming kick in the nuts.
+1 old Zepplin
For a more contemporary feel, this does nicely I think:
http://www.youtube.com/watch?v=ZpdMbdqnGKo
http://www.youtube.com/watch?v=xbJQT2eDseA
Led Zep Bitches.
Going down... going down now... going down....
- sweet jesus.
new avatar - classic
Lyme not lime. You're making goo not stupid people margaritas.
Too much work, the both of yuze. Cut a few openings and throw in the compost pile. much quicker...
+1000
> Don't walk down my street
jaysus i that that crap played incessantly at me when i was studying software and preferred mozart..
nowadays i make do with venetian snares and bong-ra, go figure =8)
http://www.youtube.com/watch?v=ASJOWQCr4rc
Thank you Cheeky, hope all is well.
- Mean Street
http://www.youtube.com/watch?v=U2R2KXNQR1M
On the ground coverage would be great! Talk to actual business owners and European Jose six pack.
Keep it real gentleman.
This week in Ireland: 300 closures, 200 startups. been this way for a good while now.
http://www.vision-net.ie/barometerStatusByWeek.jsp?t=3
There is a lot of data out tomorrow that could certainly add a ton of fuel to this rally. It was interesting reading many bearish analysts last evening that thought yesterday's weak bounce would lead to more selling today. In fact, just the opposite has happened.
After holding many technical levels on the SPX, we should be setting up for the next move above recent highs. With strong numbers tomorrow, it could happen fast.
Hyperinflation is a hellava drug.
You've said this before and it's still funny every time I read it... LMAO! "Hold my drink bitch!"
Please do, I want a huge fireball when it finally goes off.
I think it is time for Fabrice Tourre to come clean and admit to being HarryWanger.
I think he is either Cramer or Kneale.
Before responding to the virtually ubiquitous ZH poster "HarryWanger", please be aware of just whom and what you are dealing with in this person:
http://www.minyanville.com/businessmarkets/articles/AAPL-apple-gm-psycho...
His real name is James Kostorhyz, and he is here posing as a troll in dishonesty and in disregard for the fundamental purposes of this forum. He is NOT posting here in good faith, but is purposely antagonizing those with independent, anti-establishment views and opinions for his own selfish and cynical purposes, as part of a study on "the psychology of permabears".
He believes that anyone who opposes the current widespread fraud, corruption and rampant lies within our societies and governments are "utopian" and unrealistic, pollyannish dreamers.
And for those ZeroHedgers who are advocates of sound money backed by gold, this bankster shill is already out there with one of the most disingenuous, dishonest pieces of pro-establishment propaganda on the topic, expounding on how such financial integrity is "impossible", and merely "the rants of an ideological fringe":
http://finance.yahoo.com/news/The-Gold-Standard-Solid-as-minyanville-285...
Please do NOT respond to this reprehensible troll, here or anywhere else on ZeroHedge. He is NOT here in good faith, and should be shunned!
akak,
Hat tip.
Pretends to be an impostor, eh?
Sneaky.
Reminds me of a Journey song, " Don't Stop Believin' "
Harry, the Fed makes the world go round. Look at the big picture. Do you really want to have your wanger hanging out when the music stops?
Why wasn't I invited to this delegation? If you have a chance, enjoy the sunset in Oia, Santorini and don't forget to bring along a copy of Henry Miller's The Colossus of Maroussi.
Was in Greece recently, with the way the taxi drivers there try to overcharge tourists you would think they would never have problems...
On the ground reporting in Greece? - I hear that the news in Ibiza is also very, very daming.... Well you guys do deserve a vacation. =)
Say hi to the family in Poland also.
THANK YOU ZH! (and all the ZH worker bees)
Look into the following:
Bild reports 80% of German population would vote no on a Greek bailout.
Handlesblatt reports "...a bank manager warns: " I do not believe that the Greek banks hold out up to the 12th May ", he says...
Bloomberg reports "The main opposition Social Democratic Party threatened to withhold support for aid next week when the bill is fast-tracked through parliament unless banks are asked to contribute." and “This would create a fatal signal that would cause markets to explode completely,” Schaeuble said in an interview on ZDF television.
Is Germany the last line of defense for free markets? It certainly isn't the Fed or the UST.
I'll keep it short, NO.
Are those four German professors still planing on filing a lawsuit to prevent the bailout, or has the German government found a way around the legal questions?
"A quartet of German professors is to preparing to challenge the EU-IMF rescue for Greece at Germany's constitutional court as soon as the mechanism is activated, claiming that it violates the 'no-bail-out' clause of the EU Treaties."
http://www.telegraph.co.uk/finance/financetopics/financialcrisis/7591027...
They're challenging government policy as private citizens? How quaint.
+100 couldn't decide whether to laugh or cry, so I did both
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ZI,
yes thy are.
Some statements from one of the four guys (all in German)
http://www.dr-hankel.de/prof-hankel-uber-die-gefahren-der-krise/
Anyone know if GS announced what they expect for a GDP number for tomorrow?
I think they're at 2.5% which is the low end of the street. I am not positive though.
Jejum de domo Tyler?
Tyler, just keep posting on your iPad.
I see Moodys is saying additional downgrades to Greece coming. Sounds like fun, better have some details of the deal by Sunday night or things could start getting interesting again.
To what - radioactive junk status?
Moodys: 2 Days Late; 2 Dollars Short.
anyone have a sneaky feeling that the rig explosion in the gulf was a terrorist attack???
Yes. An eco-nut terrorist trying to prevent more wells from being placed in the Gulf of Mexico.
Um ... no.
Oil rigs are perfectly capable of blowing themselves to rat shit without anyone's help.
I'd say they are on par with pipelines!
If you call the Gubmint a terrorist. Kind of convenient, they didn't want drilling offshore in the US but they gave in,(only off the coast in republican states, but thats' besides the point) and this is like their," See what happens when we drill for oil on our coast. Now our gulf animals will all be covered with oil and the beaches will be ruined." It's a little funny how the 11 riggers disappeared, I mean they could have been burned, but don't you think they would find something? Just plays into Obummers strategy a little too well. You didn't think that Bush was the only douche' bag that could pull off a national disaster that plays on public opinion did you?
Disclosure: Not a conspiratorial fruitcake, just throwing some crazy ass shit at the wall and seeing what sticks.
The POTUS announcing that he's sendin SWAT teams to all rigs in the gulf does feed the notion of sabotage. And then there is the timing, the day before the 40th anniversary of "Earth Day". The "climate change" drumbeat isn't convincing enough people anymore, so pictures of oily seabirds or burning lakes of oil would be helpful to the ecologist movement about now... Or maybe nutters running any of the energy producing countries would like us to further slow down our own production.
The Gulf spill will rival the Exxon Valdez in ecological and political impact. Let's watch as the Administration flies Cabinet officials to nearby cities to stay on message while the Pentagon says they have not been contacted for help and have no mission planning underway. Meanwhile an egret sits on an egg and waits to die. I am praying the response turns out to be as miraculous as the spill is terrible.
ZH, keep the party rollin' and don't stop in Iceland too long. But do, do stop there. How are they so under the radar all of a sudden? Did the world not end or something?
It's a hard rain's a-gonna fall...
Or it could be Three Mile Island for offshore drilling, which we were assured is fail-safe.
It will likely exceed on both counts. And Obama's announcment to open new offshore drilling locations may comeback to haunt him, though his spin machine will likely find a way to downplay that.
___________
WASHINGTON — The Obama administration is proposing to open vast expanses of water along the Atlantic coastline, the eastern Gulf of Mexico and the north coast of Alaska to oil and natural gas drilling, much of it for the first time, officials said Tuesday.
http://www.nytimes.com/2010/03/31/science/earth/31energy.html
Just when I was ready to believe that Obama got one issue right, we have this rig disaster off Louisiana. Hmm, sounds like to me that oil opponents WANT us to freeze in the dark...
No way I believe these Marxists running .gov now. Load up on gold and other PMs, and if you are like me, on lead and delivery systems. Yo, with luck I will be at the range next week firing Mr. Beretta and Mr. Kalashnikov!
No worries. Cramer reported that BP says they have it under control. He bought some stock in BP for his charred trust.
This right after he said, "Dodd, Bernanke, and Geithner were doing the right thing to reform banking. Right thing meaning the consumer is going to get some good protection."
HONK HONK!!
Gerald Celente: Finance reform, just a show:http://www.youtube.com/watch?v=zd1rUasd6Jg
Check out Der Spiegel international edition on the level of German debt.
http://www.spiegel.de/international/germany/0,1518,691802,00.html#ref=nlint
I would like Marla to spin some European tunes.
Greece is neighbor country of Bulgaria. Time to visit your family, Ivandjiiski...
maybe they're going to visit CB
Can you buy me a Greek island on the way back? Here's twenty bucks.
Since this is an open thread.... It would be nice to have a public person to represent ZH. There is a lot of good stuff that gets reported/analyzed/dissected/puked upon here and I am afraid the bulk of it is lost/missed.
15:04 04/29 MOODY'S: TO BASE GREECE RATING ON M-TERM CREDIT FUNDAMENTALS
15:04 04/29 MOODY'S: MAGNITUDE GREECE DOWNGRADE TO DEPEND ON FISCAL PLAN
15:03 04/29 MOODY'S: REPEATS: MULTI-NOTCH DOWNGRADE OF GREECE LIKELY
15:03 04/29 MOODY'S: GREECE S-T LIQ, RESTRUCTURE RISKS 'NEGLIGIBLE'
15:02 04/29 CLARIFY: MOODY'S EXPECTS TO COMPLETE GREECE RTG REVIEW SHORTLY
15:01 04/29 MOODY'S: EXPECTS TO COMPLETE GRECE RATINGS REVIEW SHORTLY
Why do you need to comment on events in Europe anymore. As Harry says, the market is up, Greece and the PIIGS are just a blip in the rear view mirror.
Phase One: Financial Ponzi Blow Up
Phase Two: Sovereign Debt Explosion
Response: Bail Outs
Phase Three: Pick a war, any war
Does this mean no Robo posts?
(Not like they've been tittilating lately.)
Well, since this is an open thread and many of us are or have been independent contractors, here's your CATO Institute report as to real hidden gem inside the Obamacare Act. It is going to be so much fun getting an EIN from Office Depot, Sam's Wholesale and my local gas station to issue a 1099 to those guys.....
Laying the groundwork for the VAT?
And eliminating smaller competition for large corporate political contributors.
Whaddya think about the new AZ immigration "reform" as a psyop to get 'Mericans to accept National IDs?
(sarcasm on)
Who needs state boundaries anymore? Fuck concepts like "New Jersey" and "Wyoming" - DC knows best. Obama/Palin 2012!
TD, Not sure if you will be in the UK, but if so, blow by blow updates of the UK election on May 6 would be fun.
If, for example, there was a fil I'd like to upload to Jana, how would I do that? Thanks
The news cycle will soon be totally dominated by the BP Gulf Oil disaster
43 mins ago
VENICE, Louisiana (AFP) – A giant oil slick threatened economic and environmental devastation Thursday as it closed in on Louisiana's vulnerable coast, prompting the US government to declare a national disaster.
Louisiana governor Bobby Jindal declared a state of emergency and called for urgent help to prevent fragile wetlands and vital fishing communities along the coast from pollution on a massive scale.
The wind started to strengthen and blow the 600-square-mile (1,550-square-kilometer) slick directly onto the coast, where a rich variety of wildlife were at risk in the maze of marshes that amounts to 40 percent of the US wetlands.
http://news.yahoo.com/s/afp/20100429/ts_alt_afp/usblastoilenergypollution
I'm a visual kinda guy, how about some images like when you posted from E. Europe over on the blogspot last year? Spend a buncha money in Espana for me wouldja (friends there). Pedal to the metal. Have fun. Call me if you get arrested. A little something in the "tip jar" to buy you a frosty one (a fine vintage perhaps?).
If Spain goes under while you are there this is a nice place to report from. There might be a party:
Palma de Mallorca
Santa Ponça
That is right, good call!!
Federal prosecutors are conducting a criminal investigation into whether Goldman Sachs Group or its employees committed securities fraud in connection with its mortgage trading. WSJ ONLINE
http://online.wsj.com/article/SB1000142405274870357250457521465299834887...
Federal prosecutor - Did any of you people commit fraud ?
GS Personal - Nah we do Gods work, that would be grounds for dismissal.
Federal Prosecutor - Ok Thanks. would it be OK if we had access to your Computers?
GS Personal - What for?
Federal Prosecutor - They tightened up on Internet usage back at the office and I'm really missing the Porn sites.
GS Personal - Knock yourself out Buddy. If you want us we'll be in the back room shredding - I mean Filing some old useless files.
Federal Prosecutor - Cool - 18inch LED Monitors - Look at the tits on that Blonde
GS 155.75 AH
Travel well.
bk
Good god Tyler what could Merkel ever say to make you think "its over, we can go back now?"
THIS IS YOUR VIETNAM, DUDE. YOU'RE NEVER COMING HOME.
just heard the news first report that BP was perhaps covering up the seriousness of the oil leak i.e. 1k barrels/day vs. the current 5k/day
this from the Times
could eclipse the Exxon Valdez disaster, and accused BP of trying to cover up the scale of this spill.
http://www.timesonline.co.uk/tol/news/world/us_and_americas/article71121...
and from the archives
February 15, 2004 BP accused of cover-up in pipeline dealhttp://www.timesonline.co.uk/tol/news/uk/article1020361.ece
Thursday, 17 May 2007
BP's oil spill in Alaska blamed on cost-cuttinghttp://www.independent.co.uk/news/world/americas/bps-oil-spill-in-alaska...
8 June 2006
BP faces Alaska oil spill probe
http://news.bbc.co.uk/2/hi/business/5057954.stm
Used to work for their Canadian outfit. Cannot say I am proud.
I was just at the grocery store, and while walking thru the checkout lane I noticed something interesting in the tabloid section. Who was on the cover of the Globe? Well none other than the Prez, with buzz of a possible sex scandal. Perhaps this is old tabloid gossip, but I don't recall hearing anything about this, anywhere. Bombshell?
Please enjoy your trip. I know why you write under aliases now, at least we know you should be safe. But please take care of yourselves and don't make any crazy choices...unless your in Amsterdam! Party on ZH!
How can you leave for the Euro-zone at the moment the corrupt SEC has made a criminal referral to the Manhattan US Attorneys office about Goldman's mortgage desk? You've got to come back! Of course every time there is an issue regarding GS, something happens and Zero Hedge shuts down...very curious.
Personal opinion... Many people start reading ZH when something happens to GS... It clogs the servers...
Interesting (and as far as I know, completely unrelated) illustrations to many of the thoughts from ZH staff, contributors and many commenters:
https://www.adbusters.org/magazine/85
https://www.adbusters.org/campaigns/kickitover
Cognitive Dissonance, I thought you in particular would get a kick out of some of their graphics/headlines/comments.
I can't really speak for the other contents, they seem like a likeable if idealistic bunch.
Previously mentioned EURO buying support has returned...
MARKET UPDATES:
http://www.zerohedge.com/forum/latest-market-outlook-0
oh?
tell me more
Tyler and Marla, if you come to Athens drop me a line (you have my email). I'll show you around and let you know some inside dope.
Soundtrack: "...no future..."
http://www.youtube.com/watch?v=R8fLOJswWtk
Dear Tyler
Thanks for informing me!
/hits tyler in the mouth
/realizes he is tyler
/headbutts toilet (lid up)
gold up +7.20
:)
minus (minus eight) equals 61 gold bitchezzzzzzzzzzzzz!
CCR - 99'd and and a half just wont do
i need .9999
http://www.youtube.com/watch?v=VYYqKjUtMEM
Hey, who knew that the ECB has a cartoon about the evils of inflation? Perhaps it is about to become more poignant.
stories of Bureaucrats gone wild would be good; government gone wild kind of thing. Cases of why the stupid Greek government is going bankrupt (stupidity on-the-ground, systemic problems): department of antiquities, etc.
Coverage of the German constitutional challenge to the bailout would be much appreciated, especially analysis from knowledgeable Karlsruhe-watchers as to what verdict is likely.
Don't get paid in euros.