• Are Treasuries The Last Diversifier Left?
    Leo Kolivakis
    07/30/2010 - 17:29
    In the first quarter, the US economy grew by 3.7%, revised up from an originally reported 2.7% increase. But growth estimates all the way back to the start of 2007 were revised lower. Moreover, the level of real GDP in Q1 was revised down by $100 billion. Does this mean the secular bull market in bonds will continue? And are Treasuries the "last diversifier left"?
  • Japan: Land of the Rising Debt
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    07/30/2010 - 13:51
    The Japanese economy operates on the assumption, soon to be proved false, that the government will always be able to borrow at low interest rates. As internal demand evaporates, the government will have to start hawking its debt outside Japan — in a more realistic world, where interest rates are a lot higher.
  • An Open Letter to President Obama
    Phoenix Capital Research
    07/30/2010 - 09:55
    Dear Mr. President, You don’t know me, but I was one of the millions of Americans who voted for you in the last election. I have since been fairly critical of your Presidency largely because I, like many others, feel betrayed by the policies you have enacted upon winning said election.

The US Leg Of The Blame [FX/CDS/Goatherding] Speculators World Tour Comes To An End In Front Of Tim Geithner's Office

Tyler Durden's picture
Submitted by Tyler Durden on 03/09/2010 17:34 -0500



The meeting between the Greek Minister Of Prime Scapegoating and the US Secretary of Treasury Defrauding ("I used TurboTax") has ended "satisfactorily": idiotic lunacy, which we are now convinced has mutated and gone airborne, has spread and now Geithner is very likely infected. According to preliminary reports president Obama may be contagious as well. G-Pap is quoted by Market News as saying that "President Barack Obama gave a positive response to the European efforts to combat some aspects of market speculation that could destabilize markets and the euro." Seriously, is this just some sick, perverted scheme to make going long the dollar (short the euro) illegal? Can we just make it so much easier and simply hand Benny and the Inkjets the constitution to use as 1-ply Treasury Paper one of these days?

Some memorable quotes from Papandreou, who had he spent half the time fixing his busted budget as chasing after windmills and CDS trade tickets, Greece would have a budget surplus several time greater than its GDP, and not resort to hiring CB Richard Ellis to sell Mykonos.

"The European Union is stepping up to its responsibilities to deal with this issue, and I think that is a very important signal around the world because what is saying is that Europe is united on this cause, there is solidarity, and it will not allow speculators to play around with the stability of the eurozone and the currency.

It is very important to stabilize international markets to not allow the crises that may occur, such as the one that occurred in Greece, be used to create wider destabilization either of the eurozone or of the world financial system.

I found a very positive response by President and certainly this will be an issue that will be high on the agenda at the next G20 meeting."

Furthermore,  Papandreou said German President Angela Merkel and French President Nicolas Sarkozy have joined him in taking the initiative to fight against such speculation. As for describing his meeting with Geithner, Papa said he had a good meeting in which he discussed specifics on the possible anti-speculation measures.

And since this is a world tour, and some concertgoers always get stuck in the nosebleeds, G-Pap, said, for the n millionth time, that Greece was not begging (or any variation thereof) for financial aid, and that all signs to the contrary have been planted by rogue and vile speculators.

 

 

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by BlackBeard
on Tue, 03/09/2010 - 17:39
#259751

Funny how this man speaks of responsibility.....

by deadhead
on Tue, 03/09/2010 - 17:40
#259755

Dick Fuld must be so very, very proud.  It's all the shorts fault, isn't it?

by Fritz
on Tue, 03/09/2010 - 17:50
#259767

Considering that the US has done nothing about financial reform of any kind on its own turf, it seems foolish that Greece thinks we give a rats ass about them.

by Budd Fox
on Tue, 03/09/2010 - 17:57
#259775

We don't give a rat's ass.G-Pap is just a desperate delusional mental nut case....and he got attention by the MSM only...When, not if, the day of reckoning comes, he better pray to have enough in the kitty to be able to keep paying Police and the Army still in euros...and not the paper trash drachmaes that the rest of the populace will be handed over...or he's dead meat.

by alphaninja
on Tue, 03/09/2010 - 17:57
#259776

Here's the Greek situation....so complex:

 

http://www.thealphaninja.com/2010/03/analyzing-greek-situation-using.html

by Anonymous
on Tue, 03/09/2010 - 18:04
#259788

Even if it is true that the "speculators" are the only ones responsible for current Greek bond yields, if the Greek government needs to borrow at sub 6.50% yields in order to remain solvent, then they should ask themselves if they have a fiscal problem.....

by Anonymous
on Tue, 03/09/2010 - 18:17
#259806

Relax my American friends,Papandreou is just preparing politicaly for Greece's default
he will blame the speculators and the previous goverment and then pray that we don't lynch him
you know,his official residence or the parliament don't have a heliport

by doublethink
on Tue, 03/09/2010 - 18:17
#259807

 

"Hope" In Greek

 

Obama assured me that he considers the initiative useful, important, positive and that the United States will contribute in this direction," he added.

 

http://www.reuters.com/article/idUSTRE6273WX20100309

by Anonymous
on Tue, 03/09/2010 - 18:20
#259814

more Obium for the masses please..

by Anonymous
on Tue, 03/09/2010 - 18:36
#259831

They really believe they want the euro higher.

Careful what you wish for...

by Anonymous
on Tue, 03/09/2010 - 19:01
#259862

Maybe CDS trades are a problem for the Greeks, maybe not; defenders of derivatives would get much more of my support if all such trades were continuously netted out and centrally settled so that counter-party risks were a non-issue.

by aus_punter
on Tue, 03/09/2010 - 22:05
#260126

you must be an important person to consider your support meaningful to those defending the credit default swap oligopoly

by williambanzai7
on Tue, 03/09/2010 - 19:08
#259869

STOP THE EVIL DOERS BEFORE IT IS TOO LATE: http://williambanzai7.blogspot.com/2010/03/stop-evil-doers-before-it-is-...

by Anonymous
on Tue, 03/09/2010 - 19:21
#259885

Does this sucker realize that those same so called "speculators" are the same ones who turn around and sell his junk(oops,meant GGB) to the other suckers who buy them(read,pension funds)?. Well at least for once,those "evil speculators"are doing the right thing,ie:demanding higher yields for those poor retirees.

by hound dog vigilante
on Tue, 03/09/2010 - 19:42
#259921

 

Freebird !!!

by Anonymous
on Tue, 03/09/2010 - 20:06
#259964

Desperation sets in.......get ready for a boom rally into June 1st....and a 24 month bust.
the more they try to control everything, the more out of control things are gonna get.
"Man's" problem has always been to overcome mother nature and it won't work.
"Man's" incomprehension of neg-entropy always leads to failure.......it is just a matter of how long he hangs onto the illusion.

by Anonymous
on Tue, 03/09/2010 - 20:35
#260001

Jesus Christ!

Given all the fucking problems these people are facing, you think they'd do something other than offer what are obviously empty promises. How stupid do they really think we are???

by joebren
on Tue, 03/09/2010 - 21:45
#260100

Here is the Prime Minister of Greece explaining how he  & Tim came to their exaulted positions:

http://www.youtube.com/watch?v=IRFZL6fWM4E&feature=related

 

by Anonymous
on Tue, 03/09/2010 - 22:03
#260123

Is there a derivative by which I can short the Greek Prime Minister ?

by joebren
on Tue, 03/09/2010 - 22:05
#260127

Is this Tim in his previous existence? Sure looks like him.

http://www.youtube.com/watch?v=_S64hbp7kbU&feature=related

by Mr Lennon Hendrix
on Wed, 03/10/2010 - 00:11
#260247

ugh.  A bad omen for Greece when they gravel at the feet of gravalers.

by RowdyRoddyPiper
on Wed, 03/10/2010 - 09:17
#260464

Tyler: You never cease to amaze me..."Benny and the Inkjets..."

A classic is born.

Bravo!

by Anonymous
on Wed, 03/10/2010 - 11:30
#260592

typical politician, thats why we should throw all of them out of office and start over

by mark456
on Thu, 04/15/2010 - 09:11
#301886

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