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

Tyler Durden's picture

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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.

SheepDog-One's picture

Youre in for a rude awakening soon fucktard.

Internet Tough Guy's picture

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

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. 

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.

LowProfile's picture

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

LowProfile's picture

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

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.

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.

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.

Sancho Ponzi's picture

Don't forget NV bonds, Hamy. lmao

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.

Sancho Ponzi's picture

Hamy is a clever Zerohedge contrarian, so don't take anything he says seriously.

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.

Hulk's picture

You are killing me Hamy!

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.

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.

astartes09's picture

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

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. 

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.

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

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.

IBelieveInMagic's picture

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

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.

Azannoth's picture

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

DosZap's picture

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

Raynja's picture

No moral hazard here

Bam_Man's picture

We are WAY beyond moral hazard here.

This is Moral Vacuum.

 

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.

NotApplicable's picture

Who's going to stop them?

SheepDog-One's picture

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

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?

silvertrain's picture

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

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. 

 

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."

Thisson's picture

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

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?

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.

 

tip e. canoe's picture

gotta keep the coffers of the SCAF flowin in dough

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

youngman's picture

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

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.

Mariposa de Oro's picture

ROTFLMFAO!!!!

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

Cheers!