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LCH Clearnet Lowers Margin On Irish Bonds To 35% From 45%
Less than two weeks after hiking its margin requirements from 35% to 45% (which in turn happened about a week after a hike from 30% to 35% a week earlier), LCH Clearnet is now getting a dose of seller's remorse, and has lowered margins for Irish bonds from 45% back to 35%. Whether or not this is designed to return some normalcy to Irish bond trading following the country's effective declaration of insolvency is unclear and irrelevant. As usual, keep an eye out for comparable shennanigans from domestic exchanges in far more actively traded asset classes. We are curious if following price drops in "overbought" commodities like precious metals and crude, whether the ICE and CME will follow through with comparable margin declines.
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So basically they are trying to encourage speculators to support the bond market of insolvuent countries now?
Just to clarify:
Margins are hiked by the cartel on those things they wish to suppress like metals, oil and ag commods
Margins are lowered/maintained by the cartel to bolster bonds & ES leveraging in the debt and futures determined to be key to the ponzi?
After all the accounting, spin, rule changes and trillions in digitization aside from corruption I smell desperation.
Agreed John. That stench has been rising for some time now. The syndicate made its 2.5 year pitch...and they are still sitting alone in a room with Ben Bernanke...and his cred is gone.
It smells pretty ripe, John.
Perhaps Trichet doesn't want to make up the liquidity evaporation, while trying to juggle Germany and the PIIGS, or he might just be tired of playing 2nd fiddle in Chairsatan's orchestra.
Always after me lucky charms!
Forgiven debt schemes, + Haircuts = Less Equity
The Euro's fate looks pretty clear today.
Next up...freakin' Apple. That one is about to go all meteor into the afternoon. This will upset the sheeple, and their sell orders will be tripped.
Straight into the toilet, it looks. Thanks criminal syndicate known as Wall Street. Thanks for being lemmings, immoral, and stupid, too. Thanks for not respecting your own markets, and front running working folk, and arbitraging to death all the things on the surface of the Earth including every one's 401 k accounts....oh...and destroying the dollar....and double thanks on all those reverse merger Chinese crap stocks. Thanks for helping corporations to merge and monopolize so that they can take money from the sheeple more efficiently. Thanks for $4+ gasoline this summer...and thanks for all the chaos woven into the web of your lies.
We are all so lucky to have such an expansive criminal syndicate of bankers at the heart of our once free market system.
Maybe its because our current account is in surplus.
We took the hit for all those delicate creatures in London, Paris and Frankfurt.
Yes master - me good paddy.
Can I have some crumbs , me like crumbs.