US Backs Egyptian Bond Issuance, Gives New $1 Billion Issue "Sovereign Guarantee"

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Mon, 05/23/2011 - 12:47 | 1302230 HamyWanger
HamyWanger's picture

That's what I've always said. There won't be any sovereign, or even muni default during the coming years. Too many powerful interests are at stake.

Mon, 05/23/2011 - 12:52 | 1302246 SheepDog-One
SheepDog-One's picture

Youre in for a rude awakening soon fucktard.

Mon, 05/23/2011 - 12:53 | 1302248 Internet Tough Guy
Internet Tough Guy's picture

If I can't trust an anonymous internet troll, who can I trust? Hamy, sell me bonds.

Mon, 05/23/2011 - 12:52 | 1302261 HamyWanger
HamyWanger's picture

I honestly believe now is the time to buy muni bonds, especially Illinois and California bonds. They have been way oversold during the last months, and have yet to cope with the incredible economic recovery in those States.

Ignore my advice at your own peril. 

Mon, 05/23/2011 - 13:07 | 1302297 camaro68ss
camaro68ss's picture

dude your crazy, i live in california and no one is buying california bonds in fear of defult. Every year for the past 3 years california has been finding new ways in explaining to people why they get IOU's instead of checks in the mail at the end of every budgit year.

Mon, 05/23/2011 - 13:57 | 1302447 Hedgetard55
Hedgetard55's picture

You got hamyed, dude.

Mon, 05/23/2011 - 16:29 | 1302947 LowProfile
LowProfile's picture

Harry's been away too long, so people aren't getting the soo-nami of sarcasm that is Hamy.

Mon, 05/23/2011 - 16:33 | 1302948 LowProfile
LowProfile's picture

Harry's been away too long, so people aren't getting the soo-nami of sarcasm that is Hamy.

Mon, 05/23/2011 - 15:45 | 1302791 Fox Moulder
Fox Moulder's picture

Not sure about Illinois but it would take a change to the state Constitution to default on GO bonds in California.

 

Not that the fuckers wouldn't try it.

Mon, 05/23/2011 - 18:19 | 1303214 Rainman
Rainman's picture

In CA the Constitution validates and " guarantees "many ponzis. Education, public pensions, GO bonded debt. They are all up front tied together in a sinking life boat.

Mon, 05/23/2011 - 13:19 | 1302345 Hdawg
Hdawg's picture

Illinois and California are two of the most unstable land masses in America

Nothing like a decent bit natural disaster to blame hyperinflation on.

Mon, 05/23/2011 - 14:18 | 1302499 Sancho Ponzi
Sancho Ponzi's picture

Don't forget NV bonds, Hamy. lmao

Mon, 05/23/2011 - 14:20 | 1302503 ClassicalLib17
ClassicalLib17's picture

@HamyWanger

You can't be serious. I just got elected as one of nine alderman in Illinois' ninth largest city.  My city is broke and the state is much worse off.  Our fucking governor is talking about reducing or eliminating municipal revenue sharing(the state giving back what they take from the municipalities) which would mean a 2 million dollar budget hole for us in 2012. The state raised income taxes only to give it back to our corporations who are now threatening to leave the state. If you compare workmans compensation costs with our great lakes neighbors, Illinois IS number one by a factor of 7 to 10 times.  So fuck off you idiot.

Mon, 05/23/2011 - 14:55 | 1302617 Sancho Ponzi
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Hamy is a clever Zerohedge contrarian, so don't take anything he says seriously.

Mon, 05/23/2011 - 15:57 | 1302839 The Laughing Man
The Laughing Man's picture

You're kidding right? I don't know about Illinois, but California is quite possibly the worst state to be buying that stuff right now.

Mon, 05/23/2011 - 20:20 | 1303601 Hulk
Hulk's picture

You are killing me Hamy!

Mon, 05/23/2011 - 13:34 | 1302384 bbq on whitehou...
bbq on whitehouse lawn's picture

So your a buyer of anonymous internet troll bonds, bunds, treasuries and other labor asset backed goodness.

Well then I have a debt instrument for you :)

I have a .9999 gold and .999 silver lettered labor backed and future tech backed device that is sure to please.

: please note actual lettering and backing may be equal or less then what is stated. All complaints may be ignored or referred to the IMF, world bank or a namless hobo, junky or maid in the area of our choosing.

Mon, 05/23/2011 - 13:07 | 1302298 OldPhart
OldPhart's picture

Off Topic, but an alert to Tyler

 

Supreme Court Orders California to release up to 45,000 Prisoners

 

This is bad juju for California Citizens.

Mon, 05/23/2011 - 13:37 | 1302389 astartes09
astartes09's picture

Oh no, they let a couple thousand marijuana users out of jail!  What will we ever do!?!

Mon, 05/23/2011 - 13:58 | 1302444 espirit
espirit's picture

More minimum wage earners to supplement the work force that has the illegals running back across the border.

Can't cut out cops and ff's now with all the crooks and pyro's running about. 

Mon, 05/23/2011 - 14:03 | 1302454 Rodent Freikorps
Rodent Freikorps's picture

Surely these people have paid their debt to society and will return to their old neighbor-hoods to become valuable, contributing members to Californian society.

A great day, indeed.

Mon, 05/23/2011 - 15:10 | 1302690 oogs66
oogs66's picture

You know when you fish and you catch and release that you often catch the same fish multiple times. That's what this is. Catch and release for cops

Mon, 05/23/2011 - 22:25 | 1303932 Harlequin001
Harlequin001's picture

Hang 'em...

Mon, 05/23/2011 - 17:06 | 1303037 downwiththebanks
downwiththebanks's picture

Why don't we have MORE Black and Brown people locked up?

After all, more people imprisoned than any civilization at any time in the course of human history is such an achievement.  Just look around at all the the shit we have to protect!

Prisons rank right up there with all the landfills as the real gifts given to us by 5 centuries of glorious Capitalism.

Mon, 05/23/2011 - 13:21 | 1302338 IBelieveInMagic
IBelieveInMagic's picture

This is the American generosity we have grown to expect and love...

Mon, 05/23/2011 - 12:47 | 1302231 TheTmfreak
TheTmfreak's picture

Now if only we can get the money back that we loaned to Haiti... Oh wait that was forgiven.

Hope the chinese have it in their hearts to forgive our bad investments too.

Mon, 05/23/2011 - 13:10 | 1302301 Azannoth
Azannoth's picture

If I lent you toilet paper I would forgive it too, lest you give it back used

Mon, 05/23/2011 - 12:47 | 1302233 DosZap
DosZap's picture

The House of Saud, has also dumped 2B into the Egyptian hole.

Mon, 05/23/2011 - 12:47 | 1302238 Raynja
Raynja's picture

No moral hazard here

Mon, 05/23/2011 - 12:53 | 1302266 Bam_Man
Bam_Man's picture

We are WAY beyond moral hazard here.

This is Moral Vacuum.

 

Mon, 05/23/2011 - 13:53 | 1302440 NotApplicable
NotApplicable's picture

Well, that sucks.

Mon, 05/23/2011 - 12:51 | 1302240 oogs66
oogs66's picture

Fortunately a guarantee doesn't count as against the debt ceiling.  All good, just get more debt out there.  Can the Fed buy it if it is guaranteed by the treasury dept?  What a virtuous circle.

Mon, 05/23/2011 - 14:24 | 1302504 NotApplicable
NotApplicable's picture

Who's going to stop them?

Mon, 05/23/2011 - 12:48 | 1302241 SheepDog-One
SheepDog-One's picture

$1 billion? Chump change, hardly a few seconds worth of The Bernank POMO'ing stock and bonds.

Mon, 05/23/2011 - 13:13 | 1302309 Arius
Arius's picture

exactly...in the meantime, not sure what is going on w/markets down and gold up...

i keep checking to see if any yachting accident happened Sunday but nada...wonder if the boys made it to work today... any clue anyone?

Mon, 05/23/2011 - 12:48 | 1302242 silvertrain
silvertrain's picture

I wonder where the Gold is that Mubarak fled the country with ended up?

Mon, 05/23/2011 - 12:50 | 1302247 b_thunder
b_thunder's picture

After the (chief financier and donations gatherer) bin Laden's death,  Obama simply has no choice but to backstop the incoming Muslim Brotherhood's government.  It's sort-of a law in the middle east: if a married brother dies, the other brother who's single has to marry the wife of the deceased. 

 

Mon, 05/23/2011 - 12:50 | 1302250 poydras
poydras's picture

I shook my head when reading this yesterday.  I suppose an extra two billion is a rounding error in the context of a$1.5T fiscal deficit.  "No worries Egypt, my friend.  Just charge it to my tab."

Mon, 05/23/2011 - 13:20 | 1302346 Thisson
Thisson's picture

Just like in the movie Barfly: "Drinks for all my frieeeends!"

Mon, 05/23/2011 - 13:05 | 1302251 hedgeless_horseman
hedgeless_horseman's picture

Co-Signer-In-Chief Barack Obama promised last week $2 billion in loan guarantees...

So S&P will have them at AAA?

Mon, 05/23/2011 - 12:54 | 1302252 Alienated Serf
Alienated Serf's picture

How can we order the new regime around without controlling their money?

Now you guys be good boys and we will make sure the bills get paid, but if you are bad, no dollars for you.

 

Mon, 05/23/2011 - 12:51 | 1302253 tip e. canoe
tip e. canoe's picture

gotta keep the coffers of the SCAF flowin in dough

Mon, 05/23/2011 - 12:54 | 1302255 Re-Discovery
Re-Discovery's picture

Ok has eveybody got their giveaways done now?  No?  Ben wants to do QE3?  OK Ben.  Not Yet?  Tim wants $2 trillion debt ceiling raise?  OK Tim.  Barry?  Aid package to Europe?  Ok we'll wait on that one.

What a cirlce jerk.

And people think the States won't get bailed out.  What a laugh

Mon, 05/23/2011 - 13:03 | 1302288 Joe Davola
Joe Davola's picture

Unless they're red states.

Mon, 05/23/2011 - 12:51 | 1302256 youngman
youngman's picture

We better hope Obama doesn´t get to drunk in Ireland and offer them a few Trillion while under the "influence"..

Mon, 05/23/2011 - 12:55 | 1302272 Magnix
Magnix's picture

LOL!

Mon, 05/23/2011 - 13:14 | 1302324 Mariposa de Oro
Mariposa de Oro's picture

No worries, Mate.  The Imperial Wookie will have her evil eye trained on his lips, assessing everything that enters his pie hole.

Mon, 05/23/2011 - 16:43 | 1302983 S.N.A.F.U.
S.N.A.F.U.'s picture

There's been another sighting -- and they managed to get a picture!

http://lunchtime-leftovers.blogspot.com/2011/05/imperial-wookie.html

Mon, 05/23/2011 - 17:57 | 1303133 Mariposa de Oro
Mariposa de Oro's picture

ROTFLMFAO!!!!

I'm keeping that picture!  You made my day!

Cheers!

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