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Posturing. Pure posturing. If Berlusconi would really mean it he would resign immediately.
Giulio Tremonti is getting a lot of flak for his austerity measures. A pity his power base is so divided on it.
Italian banks has commited fraud and Frankfurt knows it.(Lies in National Accounts + Private Banking)
The same like Hungary,Portugal and Greece.
Sell Italy bonds
Long Belgian CDS
Long Spanish CDS
Right on cue rumors on italian banks passing the stress "test"
What a farce.
Just one week ago 4 could fail...today suddenly no one:)
UBI BANCA IS IN DEFAULT
if Bancaja isnt insolvent yet they deserve to be.
I just stood in a waiting area for 45 mins, and then left in disgust, with the same 6 people still in front of me as when i arrived (and another 4 come in behind me since)
one useless girl on the counter who managed to serve one woman in the whole time, and 3 guys sitting in their own cubicles behind her ignoring everybody
what a f'in joke, no wonder theyre all insolvencio.
the $ is on a tear, the jobs number must be good
Remember today is reverse day, lol.
I dont know what to think anymore.
Just BTFD in gold, outside the US ofc.
Dollar is looking like it's settling into an epilleptic sinusoidal pattern. I don't know how they keep pumping it back up.
Tyler, do you ever sleep?
Tyler team and contributors are simple great.
God save Zh.
I heard he sleeps only 1 hour a night...
He surely sleeps with his eyes wide open
The sacrifices of the others
Great link, thanks for this
i simply dont get this....why is there FEAR!!?
everyone will be bailed out...everyone...these guys need to relax..
Quantitative Easing in USA is ending but in the same time yesterday Trichet just announced european QE... mybe today sell off in Banks is just a way to load european banks at better price...
Totally scared off the EURUSD here this morning.
sure he's going to volontary resign for prison...
Just another day for the Bunga Bunga boys
It's just sex. Everybody lies about it ;)
One day Greece, next day Portugal, now Italy. Nothing like a European debt-vacation!
relax and take a long lunch ( in Italy a long lunch usually last days)..la dolce vita..
one can only laugh at the end of the west.
Nothing scares credit traders more than Italy. Most of them expect at any moment some bombshell to drop about the sovereign or a key bank or region. Republic of Italy is the open interest CDS position for a reason, trouble is, I wonder who is the ultimate seller of protection?
UniCredit is mentioned? Sb said they are too big to mention.
Three little PIIGS in a boiling cauldron, QE on "pause", the curtain being pulled back on China's bubbles, and yet the DXY struggles to press 76. All the while gold holds its own...
What's safe money?
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