- advertisements -
Also note how the EUR didnt move (actually, was bought pretty steadily here this am) on Ireland dgrade info. Irish bonds were dumped though.
It's called Jawboning..... Boning
And how is it any different than what Goldman Sachs does every time it puts out a recommendation or research note to jawbone the market to further Goldman's own interests?
At least they do all this with some really cool accents.
"All of this is doomed to failure."
As long as 51% of the saps on this planet believe that the FED / ECB / IMF know what they are doing we'll continue on our merry way.
Expectations management works better when you have some ability to back it up with cash. Merkel would probably kill Trichet if he wastes any more ECB money on foolish attempts to beat the bond markets.
The ECB is well beyond "wasting more money". The more that you refer to is already gone. The ECB is technically insolvent, which, perversely enough, on the basis of you can only die once, gives them all the incentive in the world to keep throwing money at these soon to be defaulted credits...
New all time high in Gold, 1579.7. (By the time your reading this its probably higher)
Nope. 'Somebody' has prices well under control. You think The Bernank is going to stand in front of Congress today and give his testimony while Gold is making record highs? History would lead us to believe that's unlikely.
Blythe will have orders to nail it at the afternoon fixing and then when he speaks. The remainder of the session though it will be going up. Its like trying to hold a beachball down under water.
Not many people know this but bailouts are illegal under the EU Constitution ...front door bailouts (ie. handing Euros over to bankrupt Euro-Govts) and backdoor bailouts (ie. buying Govt debt in the secondary market to prop them up)
...someone should let the EU know before both the front and back doors of their ideological Ivory Tower come off their hinges with all the bailout crew (Eurocrat) activity rushing through in a sweaty panic for the past year
OTOH a war is seldom played by the rules, and peacetime laws are for the most part set aside...
You can't cheat the game and than call foul if the other part tries to defend itself.
Exactly! Here's what is said in Article 125:
1. The Union shall not be liable for or assume the commitments of central governments, regional, local or other public authorities, other bodies governed by public law, or public undertakings of any Member State, without prejudice to mutual financial guarantees for the joint execution of a specific project. A Member State shall not be liable for or assume the commitments of central governments, regional, local or other public authorities, other bodies governed by public law, or public undertakings of another Member State, without prejudice to mutual financial guarantees for the joint execution of a specific project.
And here u can find the whole worthless piece of paper called Lisbon Treaty:
Also the Rating Agencies statements usally don't work longer than a week and manipulate markets: so your point is...?
The full faith and credit of the European Chinese Bank backs the Euro:) Get used to it.
would the last person to come running out of the european theatre please turn out the lights
Tips: tips [ at ] zerohedge.com
General: info [ at ] zerohedge.com
Legal: legal [ at ] zerohedge.com
Advertising: ads [ at ] zerohedge.com
Abuse/Complaints: abuse [ at ] zerohedge.com
Advertise With Us
Make sure to read our "How To [Read/Tip Off] Zero Hedge Without Attracting The Interest Of [Human Resources/The Treasury/Black Helicopters]" Guide
How to report offensive comments
Notice on Racial Discrimination.