This page has been archived and commenting is disabled.
From The Rumor Bag: Financial Firms Receiving Widespread Subpoenas For Euro Shorting Collusion
As of last night, a variety of financial firms have received subpoenas seeking information on collusion to short the euro. We are currently pursuing more information and will post once we get it. Certainly sovereign CDS traders can not be far behind (especially those who traded with a less than bullish bias over the past month) from the wrath of the Greek, Spanish and British secret services, and now - various US legal and criminal administrations, which are currently convinced that it is just speculators who are at fault for 15 years of fraudulent eurozone budgetary presentations and countless bond offerings based on fake financials, finally coming to the fore. Seriously, sell anything, and you will soon be facing the business end not of misdemeanor, but real-deal felony charges, and possibly with sprinkles of treason to boot.
»
- 7593 reads
- Printer-friendly version
- Send to friend
- advertisements -
classic!
The German investigation involved contact with the New York-based Depository Trust and Clearing Corporation, which records transactions such as the buying and selling of Credit Default Swaps.
"This market is not transparent and it is very hard to see what's going on," said the source. "It is not possible to make it transparent in just a matter of days.
"We cannot find any evidence that Greece is being shorted out of existence," he said. "Equally, you cannot prove the opposite."
More at www.reuters.com/article/idUSLDE6201RX20100301
It could be that having grown so accustomed to being above the law (excepting the need to support the supremacy of the American Empire), the likes of the vampire squid have forgotten that they are playing in areas where other authorities (European govts, Chinese govt, etc) are not willing to turn a blind eye to their crimes.
Apparently they just arested bart simpson for saying 'eat my shorts'
I am gonna puke with all these talking that Euroland is shit and USA is perfect and Euroland is to blame for every crisis. Let's talk more about bankrupt US states and municipalities. They are the same shit.
Welcome. First time here?
Damn! Beat me to it. I was going to ask, "first time here?"
You can always tell the newbie by the wide eyed look in their eyes and the frantic pacing as they begin to understand the depth of their denial and the monstrosity of the Ponzi.
Marla should hand out air sickness bags to all new posters.
Marla should hand out air sickness bags to all new posters.
I have to agree with that one. I have only been here a few months, and the first one scared the hell out of me.
Once they become used to waking up in the middle of the night screaming, they will post useful comments.
+1, except for when the wife whacks you.
Bet (s)he won't be back.
Please reference every (slight hyperbole) article on this site prior to the Dubai crisis. Have a nice day.
I just refuse to speak to people named Anonymous.
If only one could bottle that brand of innocence.
Madness. This is the kind of insanity that ended the Weimar Republic and started WWII: rather than understanding the basics of economics and the true causes of hyperinflation, they blamed evil speculators and "Jews."
I really hate to side with George Soros and Goldman Sachs on anything, but this time I am definitely on their side and shorting the hell out of the Euro.
While no one can blame one ethnic group for starting WWII it isn't that much of a stretch to see Morgenthau and Frankfurter pimping for the United States to force the United States into WWII with Germany when it was Japan that attacked us.
The sacrifice of lives and limbs in WWII in the millions on foreign soil will likely be debated forever but you'll never convince me that jewish power in the United States wasn't a prime mover in getting Roosevelt to
attack Germany rather than taking out Japan first.
Soros and Goldman Sucks are not practicing economics as you seem to believe. They are 'manufacturing' the circumstances that transcend economics and for that they only reinforce the anti-jewish sentiment across the world.
Boy, you will be losing money bigtime. In Europe we do austerity before bailouts. New to the Americans, having crony capitalism, but ensuring fiscal restraint for the Europeans.
Also, credit destruction leads to less money supply and that gives a stronger currency.
You are still missing that one link mate. (^_*)
damn, better get my finger off the sell key.
Bullish for the Euro, so clearly the play is to buy US equities. Holy cow, this is getting crazier by the second.
I am taking my finger off the sell key as we speak...hahahahah
the key word being collusion
"the key word being collusion"
But...but... but don't they have a waiver, like baseball and football and TBTF banks?
I dont care.
My money is in gold bullion.
Tungsten anyone?
+1
The Bull Gestapos of the world are out chasing those "infidels" again.
How much clearer a signal do we need that the solons are scared to death?
Governments always find a scapegoat.
Speculators are an easy and preferred target. Don't worry the USGovt will be doing the same thing here, soon enough.
Heaven forbit the government admit fault for all this, when they secretly bypassed the EU rules to explode their debt and deficit spending!
Hegel sets up one party after another! These are the good guys, these are the bad guys; let them be judged! The Anglo-Saxons look on, as this is for the pure entertainment of the British and 'merica. Hey British/'merica, no one has told you, but this is just one big pupptet show! but hey, you're next!
junk? as in, you do not know who hegel is? you do not know what the system does? how it operates? that it puts you in a box? these things are acts, merely staged so that "you do not have to think, they will do it for you. sit back ansd relax." think outside of the box....look at what is going on....all this hoopla over paper trading? hahaha! Cash Rules Everything Around Me!
http://www.youtube.com/watch?v=e69laCvKxEw
dolla dolla bill yall
Ill junk this too! F*^* Hegel!
I was wondering when foreign intelligence agencies would start covert operations to nuetralize perceived enemies of the "state".
Don't short israel bonds, they will send 2 dozen guys with pillows after you
True, but still funny!!
Captcha making me breakout the computer calculator, not cool.
The stock markets are not allowed to go down. First, goosing the S&P futures last week and now blatant misdirection by having "justice" departments going after speculators just when the truth starts coming out about how banks and governments have been colluding with themselves. I am feeling sick again........
Can we assume Kohn was short the Euro????
Short away, if there's smoke, there will be fire. It's funny to see this sort of desperation. Even more funny yet tinged with sadness that the collusion between the NYFed/GS and AIG never even raised an eyebrow, 8 month long endless voracious e-minis rampages are also normal looking enough to not gather any attention either. Let them all rot
Like everything else... tell the people what they want to hear but in reality... screw 'em, heads will again turn the other way and it's back to business as usual. Don't expect much from this.
Speculators are the product of easy money. Easy money is the product of Central Banks. Central Banks are the product of colluding Politicians and Bankers.
So lets blame the speculators and stop there.
Nothing to see. Keep it moving.
blowing your budget out of any reasonable proportions - priceless; for everything else, there is a naked CDS (aka political life takes a GS Advisor.)
More and more convinced a solid rifle and ammo is a still relatively cheap insurance policy..and if the black choppers and black SUVs will come after me...I'll go down in a blaze of glory, not as a whimp!!
Bernanke will pay any legal bills and go out and buy gobs of euros and sell the dollar.
Wouldn't it be neat if the Fed had to file a 13-F?
biggest holdings.....WFC, BAC, C, and every single regional...
I have so had it with the Fed distorting all the markets and even though I don't like to be a mean person, I am looking forward to when all the bulls get burned because they are relying on the Fed and the Fed alone.
March to March ... pretty bad year for us
This is just as ridiculous as subponening long EUR position holders, since for every short position, someone had to take the other side. Clearly must be pro-EUR conspiracy.
A buyer AND seller for every transaction? Now that is just crazy talk!
We've had thirty years of a revolving door between wall street, lobbyists and government. People have felt abandoned by their government and will enjoy seeing the favored son aka wall street finally get his comeuppance. Is it right? Is it fair? Who cares. It will make for great theater.
Ben, Ben, Ben. You say want you want to regulate the banks, yet do nothing! You are pathetic. How in the hell did you get reappointed? The CDS casino you helped build with your complete failure at bank oversight must be closed immediately or perhaps it is too late? Are the casino chips worthless?
I bet bwarney frank is behind this! Lol
I believe the Fed when they say they are closing up shop on "overt" QE and the agency MBS purchases. What I do not understand is whether FNMA and Freddie will continue to originate new mortgages if they cannot repackage them and sell them at the right price. Or will they bloat like ticks, blood in, and none out? Stay tuned.
Sell paper. Buy gold. Buy silver. Take delivery. Bury. Wait. Win.
Might be good to keep one of these around to manage your stash - or someone else's...
http://www.1000metaldetectors.com/wp-content/uploads/whites-metal-detect...
Been using mine to dig up Civ War relics - bullets, mostly...
Nothing's gonna come out of this subpoenas. dont get get your hopes too high. This is not 1929 !!
Like Greece, subpoenas soon to come to those who are colluding to try to put Goldman Sachs out of business too.
Yeah some hedge funds cornered the most liquid market in the world...lol. How preposterous! And John Henry and his kind are pushing up 10yr futures too. At least the authorities read the WSJ!
Welcome my son, welcome to the machine.
What did you dream? It's alright we told you what to dream.
Did wacky patty from overstock dot com get send these guys an e-mail? I haven't heard much from him since NFI-Info bowed out in disgrace over the subprime mess. Sounds like something out of his playbook.
Gentlemen, does everyone really see where all this is headed. We know that some of the old-timers who have been around a while, see it. But take a moment to think about it. We know of 3-4 colleagues in the business who literally for the last 6 months, have had teams of SEC investigators combing through every piece of paper, email, trade confirm, IM's, etc., looking for any and every little infraction to (1) either fine them, or (2) shut them down. We don't think the general public, not least many in our business, know or understand how quickly society in moving toward a quasi "police state." Just wait how high the tax penalty will be when one wants "repatriate your money" back into the U.S. after moving it offshore for safety, or dollar collapse purposes. It is coming, and it's being floated around Washington as we sit. 20%, maybe as high as 40% repatriation tax. It's called Fascism... And, America is closer to it than most think.
Hey AR,
Maybe you didn't catch the get the heck out tax, but there is one, if say one wanted to up and move to Canada permanently. Its something like 50% on everything you liquidate and take over the border.
Tyler should get a medal for his work.
First place for excellence in investigative reporting...
Tungsten: Tyler Durden.
Silver: Karl Denninger
Bronze: Charles Hugh Smith.
"Collusion", front running and insider trading are all perfectly legal in the forex markets. Why do they ignore the obvious manipulation of the stock and commodity indexes? $$$$
They ignore it because they are behind it.
Its a sinner game. It's The Rockey horror picture show.
must be the FED that doesn't like that the dollar doesn't get flushed down the toilet
From a purchasing power perspective, the euro should trade at 1,17 and not at 1,36. The euro is still a very overvalued currency
remember that we're talking about collusion under the law - that is, under section 1 of the sherman act, which prohibits a whole bunch of anti-competitive agreements/arrangements. it doesn't matter whether you think these people should be able to short a currency or make a particular trade. what matters is that *if* these guys were sharing competitive/proprietary information such as prices, timing, etc., they should be nailed for it.
it's amusing that other places on this blog people rail against anti-competitive activity from GS and others, but here everyone immediately cries government conspiracy.
You are right ... evil is evil
I think you are just seeing a huge degree of anger over the hypocrisy of government that would focus on the speculator when they and their mainstream cohort are committing the same collusion with funds and ramifications the eclipse it by three - four orders of magnitude. It just seems hard to believe that the pea can be felt under nine mattresses upon which six gorillas sit.
Evil is evil and it should be called out where ever it exists.
Two years ago on another blog I said the way to stop the financial crisis was to surround 85 Broad with tanks, and place all employees under arrest for terrorism...convert the building to a detention center.
edited inappropriate comment. please remove
I am absolutely 100% certain that:
1.) a bunch of hedge fund guys got together and discussed trading strategies with each other, and
2.) published said trading strategy on the front page of the Wall Street Journal
I love the absurdity of that.
Chunky---
agreed
this is a smokescreen maneuver to divert attention from GS and
maybe use the governments to take revenge on some of their enemies....
and since GS will have inside info on the investigation they will profit from it just as they made a bundle on the LEH bk when Bernanke Geithner et al. gave them a heads up....
yikes! pretty soon they'll start arresting people for putting money in savings accounts and not spending it!
“collusion to short the euro” Why didn’t they call me to join that conspiracy?
Isn't it great that the SEC is finally doing something, and that something is to root out collusion to bring down the euro. Their thinking being that these firms can only conspire to bring down the dollar.
Don't hold your breath. The SEC has long stood for Steadfastly Enables Criminals. They may give the appearance of an effort to finally discharge their congressional mandate to protect the public interest, but they've proven for years they have no intention of actually doing so.
I covered most of my Euro short last week, and I was hoping this news would cause a squeeze so I could re-establish my short position. But I guess maybe some people remember what happened after the SEC banned the shorting of financial stocks.
It takes two to tango.
I wonder if they've started shorting the municipal bond funds too. Those spreads are starting to get VERY interesting....
Isn't it ironic that the Euro, where there is a system of financial control and discipline (admitted some cheated with the help of the Squid and will now have to tighten their belts until they are blue in the face) gets sold down against currencies where there is no control or discipline. Even for the beloved Aussie dollar, figures came out yesterday stating that overseas borrowings are now $0.65 TRILLION. Soon a lot of sheep are going to try and get through a very narrow gate all at once.
Maybe they want to get us looking the other way so we don't see US Dept of Commerce charts like these
(hold onto your chair)
http://economicedge.blogspot.com/2010/03/economic-reality-check.html
Holy crap!
Great link, great read. The collapse is here, now, and it's real. Not a surprise because it triangulates with many of my other calculations, but yes, this really is Armageddon.
You're not crazy if you feel lost in an insane world.
There is only one valid objection to shorting. The Goldman originate and short model.
Yeah, what's wrong with being an arsonist by day and a firefighter at night? It's just good business...
Anyways, right now it feels like lack of buyers, not additional money on the short side, are what will take this lower.
Here's one question: if there is a Greek bailout will there be EUR buying at the CB and money center bank level to, er, pay off these bonds or something? Something on the fundamental level to cause a reversal, besides the usual hot money following the inevitable news.
Instead of running across rooftops at midnight in Vienna, or trying to blend in to a spice souk in the Middle East, today's James Bond's are hanging out in the Hamptons discussing Petrus '61 vs. Haut-Brion '59, Riva vs. Perini Navi, Brioni vs. Stefano Ricci, Kashmir vs. Burmese sapphires, and botox vs. TCA peel, all to ingratiate themselves with the Unctious Few.
As "M" said in Casino Royale II, I miss the Cold War.
Very simple: just tax financial transactions particularly currency trades and CDS. Remember Tobin?
http://mgiannini.blogspot.com/2010/02/too-and-too-many-pigs-to-bail-and-...
then what the Greeks need to do is all band together like Spartan 300, and short Goldman Sachs. It will fall like a rock.
Its all the other stuff that Monness Crespi Hardt does that they should be investigting.
ucvhost is a leading web site hosting service provider that is known to provide reliable and affordable hosting packages to customers. The company believes in providing absolute and superior control to the customer as well as complete security and flexibility through its many packages. windows vps Moreover, the company provides technical support as well as customer service 24x7, in order to enable its customers to easily upgrade their software, install it or even solve their problems. ucvhost offers the following different packages to its customers.