Moody's Place Spain's Aaa Sovereign Rating On Review For Downgrade

Tyler Durden's picture

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EscapeKey's picture

"What, me worry?" - the markets to Moody's

Pamela Anderson's picture

At 11:11 am CNBC reported this same news.... as always CNBC behind Zero Hedge

LoneStarHog's picture

That is because Zero Hedge takes it hot off the wires, while CNBS & Foolberg require it be audited/reviewed by the respective Spin Control Department of PhDs.

carbonmutant's picture

All the MSMs need is a little guidence from their thought leaders in the "Casa blanco" before saying anything in front of a camera...

akenathon's picture

With this Gold can rocket and with USD/JPY below 88.00. Russia is not important but more important is how much IMF has still left for sale at 1250..I bet not much anymore..

DosZap's picture

aken,

Supposedly 3000 Tons..................which ain't shit,compared to what they had last yr.

traderjoe's picture

The next move in gold is down - as the markets tank margin clerks will use it for proceeds. But, as the currency collapses the physical will go parabolic while GLD, etc. go bankrupt. And at point there will be no sellers of physical gold...

lettuce's picture

but wait, if moody's is on review for downgrade, doesn't that mean double-negative for spain? buy spanish bonds!

lettuce's picture

thank you thank you i'll be here all week

Cognitive Dissonance's picture

Try the roast beast, it's to die for.

Going Loco's picture

For 'challenges' read insurmountable obstacles.

kaiten's picture

And who´s rating the rating agencies?

DosZap's picture

kait,

S & P (rumor) was said to be downgrading Moody's!

Cognitive Dissonance's picture

I give them an "FFF" for F**king Fantastic Failures.

sheeple's picture

I was waiting for Moody's move on McGraw [bleh forget about sovereign debt, battle of rating agencies' more fun to watch]

curbyourrisk's picture

Ha Ha!!

 

Still waiting on their imminent down grade of S&P after gettin bitch slapped last night by their step sister.

jkruffin's picture

Would they lie as much as Michael Vick does?  LOL

lizzy36's picture

guess they passed on downgrading fitch?

doolittlegeorge's picture

and of course this is a "shirt first ask questions later" market so just the mention of a downgrade moves the market.  this is why Buffet (said right to Phil Angeledies face no less!) "loves this company."  In other words, "they kill countries, too!"  Don't know what the deal with Bernanke's phot-op on monday with said "Team Obama" and "you're on board, too, fucker" was but that struck me as very ominous indeed.  in other words, "go fuck yourself Spain" comes to mind.

doomandbloom's picture

do they have sovereign stress tests..?

John McCloy's picture

Please do not give Tim any more brilliant ideas Doom

jkruffin's picture

Yea, Timmy went over there to show them how to cook the books better.

mikla's picture

do they have sovereign stress tests..?

Yes.  It's called "War".

cougar_w's picture

That's right. And people think there is nothing important at stake here. It's all bullshit until someone gets hurt.

Mako's picture

In other news, we landed on the moon!!!!!

Seriously though, all Moody's, Fitch or S&P has to do is look at the Federal Reserve Z1 report, everything across the board should be downgraded well over a year ago.

Moody's downgrades Earth on negative watch.

Dismal Scientist's picture

Wages to come down to make Spain more competitive vs Germany, deflation to triumph, I hear you say ?

Its already here. Labour costs to fix my car at authorised dealer in Italy today €25 per hour. Equivalent in Germany €45 per hour. A better job too, with no attitude.

walküre's picture

so youa lika da pizza ina da fuela injecta?

huh? maka da auto driva fasta?

CustomersMan's picture

 

 

Soverign Stress Tests = Riots

 

Level 1 - Tear Gas applied liberally, clouds everywhere, some arrests

 

Level 2 - Tear Gas, Beatings, 100+ Arrests, burning tires and blockades, some smoldering cars and buses

 

Level 3 - Burning buildings, deaths, mass arrests, flamings cars and buses, burning barricades, 250+ arrests, water-canons, amored personel Carriers, gunshots ringing out.

 

Level 4 - Helicopters shot down, blood visible in the streets, large explosions, multiple flaming buildings, molatov's, RPG's...flame throwers,you get the idea...

 

Moody's , S&P , and Fitch should incorporate these into their models. Also would not want to be AMBAC

carbonmutant's picture

Some market disruption may occur...

Jean Valjean's picture

I love that word... "barricade".

"Beyond the barricade is there a world you long to see?"

NumberNone's picture

Dear Spain,

Do not let the downgrade intimidate you.  You need to spend more money so that you can grow your way out of this problem.

Signed,

Paul Krugman

glenlloyd's picture

This is really starting to very closely resemble a circle jerk.

Grand Supercycle's picture

 

On May 4th I called the end of the March 2009 bear market rally.

The proprietary indicators I use in my technical analysis can identify trend changes before they occur.

http://stockmarket618.wordpress.com/about

herry's picture

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