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Von Rompuy Just Tweeted A Financial Stability Meeting Will Be Held July 21: "Soft" Greek Default Coming?
Herman Van Rompuy just tweeted the following:
I have decided to convene a meeting of the Euro area Heads of State or Government on Thursday, 21 July, at 12.00 in Brussels. Our agenda will be the financial stability of the Euro area as a whole and the future financing of the Greek programme. I have asked the preparatory work to be brought forward inter alia by the Finance Ministries.
Perfect timing for the announcement of a "soft" Greek default: just a day before the US debt ceiling legislative deadline. Are we going to see a major market crash next week just so everyone is reminded of what all is at stake?
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"Soft" or "Hard", a reaming is a reaming........er..........sorry.
A default is a default.
CD,
You and I both know that the word "default" (similar to laws) only have meaning when in regards to the common folk.
And reaming.....tax payers are all too familiar.
Tyler, can you report that there will be almost $500 Billion in
Securities maturing at the end of Aug that need to be Flipped
The issue is clear. We have lost 7 million jobs and the Govt tax collection is and will remain far below spending. The media heads continue to front the super rich and claim we can't raise taxes and we need to recreate the historical American can do spirit. BS...America workers are largely competing with most Chinese workers who make $200 per MONTH (not day), work for piece rate, live in dorms, do not have cable, iphones, twitters, face book, food stamps, medical care, labor or environmental laws and financial aid. Talk about a competitive advantage. Lets face facts and borrow until it explodes in few years. If The Republicans cut a large amount of spending, the economy will collapse and will never hold power again. Let's borrow, spend and borrow like there is no tomorrow, because there isn't.
The truth is here:
http://www.youtube.com/watch?v=TIwJ8lYbPn0
Farage tells it like it is.
His teeth even fall off at 3:31.
I like to refer to Nigel as the Ron Paul of Europe.
Thanks for the link, I love this guy!
A drachma is a uhm... well... drachmae.
http://en.wikipedia.org/wiki/Drachma
default –verb (used without object)
- to fail in fulfilling or satisfying an engagement, claim, or obligation. - to fail to meet financial obligations or to account properly for money in one's care: Let me see even if you call it another name does it fit this definition?You can fuck a woman hard or soft. But pregnant is pregnant.
All the countries are all preggers. Keynes spread his seed far and wide.
William your best yet ... I still can't stop laughing - although I have this very disturbing image in my head now................
only 56 million junks??? ...the Irish, Icelandic, Finish, Dutch and Czech people haven't heard of Von Reartoys twitter page yet!
"Our agenda is the financial stability of the Euro area as a whole---"; they better bring sandwiches and sleeping bags, going to be a long meeting.
Looks like I got junked by Rompy
Soft Default = Hard Ramming of Greek citizens.
A test run would be nice. See what the Euro does.
I am not sure how you soft default on a money market though, without triggering armageddon. Maybe Bernanke can bail them out with dollars.
Market goes up? Primary dealers become flush with cash. Makret goes down? Primary dealers make more cash. You and me? Well......go fuck yourself.
"My Big Mac, why is it $10.00 now?" Is all the sheeple will say.
21st July is also the national holiday of Belgium: the stock market is closed on this day in Belgium...
Do they have a government yet? Did the sky fall without a government? I like their government model.
No government in Belgium yet...
Which proves one thing: it's a pseudo democracy, there is no need for a 'belgian govt', they have the EU govt to take all decisions that matter, without democracy.
Time for a double-header I say: A Greek default AND NO raise of the US debt ceiling! The pundits won't know who to blame!
Gold 1600 calls are on fire......see you there any day now....and above.
Agreed but...they will pull back a little with the "crash"! That's when you back up the truck!
The EU states (= taxpayers) will back up the losses of all institutional losers, whether soft or hard default, you can count on that.
Can't wait to hear Nigel Farage comment.
I was thinking exactly the same thing - I love how Farage says his name, "Misssstah Von ROMPOY..."
lol
+1
out of 1,000 British and Euro MP's we have 1 (one) that has a brain bigger than a peanut not pickled in socialist doctrine ...it's a bit embarrasing don't you think?
Cracks are beginning to appear. The CDS attack on Italy was the final blow.
http://www.bloomberg.com/apps/quote?ticker=CITLY1U5:IND
€ EURO : BOMBS AWAY!!!
yeah.... let's buy dollars....
And let's all hope that the Tea Party Republicans don't fold like the regular Republicans normally do. The entire debt ceiling issue needs to be voted down. Raising the debt ceiling gives Obama a blank check he will have the entire 2.4 trillion spent in two weeks on garbage. Raising the debt ceiling the past 80 times hasn't work, what makes these morons think 81 times will?
The madness has to stop here!! Now! Today!
Get real. They'll have a conference call with Jamie this weekend and he'll tell them they can play their game for a few more days, but the ceiling will be raised, there will be a cursory agreement to reduce spending in the future and things will carry on like never before. It's inflate or die, and that applies to the US, China and Europe.
If we've learnt one thing, it's that the bankers always get what they want.
But it will be a "Soft as Charmin" crash won't it? And just as messy...
Who is Von Rompuy?
http://www.youtube.com/watch?v=lqovTGjYjM4
let me guess before i see the Vid: a Marxist-Communist ...back in a mo
Update: it wasn't a CV of the non-event that is Van Rompuy but another Farrage monologue (enjoyable nevertheless). I'd guess VR has the same Commie background as his side-kick Burruso yes?
Oh ya.
"Our agenda will be the financial stability of the Euro area as a whole and the future financing of the Greek programme." May I make a suggestion that will aid the stability of the Euro?
1.) Kick out the PIIGS
2.) Get Switzerland to join the EU.
Switzerland stopped giving a shit about Europe centuries ago.
Yes. And why would they want to join?
They Won't! All that foreign money would be gone in a sec!
nor could they as by constitution Switzerland has banned itself from joining any international organisation (such as the EU etc)
Constitution? It's just a goddamned piece of paper.
Toilet paper.
Our agenda will be the financial stability of the Euro
Why not be ambitious and go for an agenda that includes the resurrection of Mussolini, Stalin, and Jimmy Hoffa?
That's on next week.
http://www.entendance.com/forums/viewtopic.php?f=6&t=801&p=18163#p18163
Kind of like being partly pregnant.
Now that the banks have passed the stress test the EU believes it can withstand a Greek default.
Somehow i think this more than just Greece, more like an emergency " holy shit, this whole bitch is going down! " meeting.
Weekend meetings usually have that flavor to them. Trying to get a handle on the falling knife while nobody is watching.
Stock Market Strategy: Carry Trade Weakness Suggests S&P 500 Overpricedhttp://rosenthalcapital.com/blog/2011/07/stock-market-strategy-carry-trade-weakness-suggests-sp-500-overpriced/
Wow Tyler, do you ever get tired of calling a market crash. Must dissapoint you to call for doom and gloom every week, and yet life goes on. You are like the homeless guy on the street corner in downtown with his "repent" sign. You'll be right eventually, broken clock and what not.
"You'll be right eventually". That's the point yes are you prepared for eventually?
You might not even be around to see that eventuality, so why worry about something that's "always around the corner". The death throes of a nation will out last you. Enough with the boogeyman shit, I use to like reading Tyler for information, but now it smells of desperation. I got the under that Tyler post another "market crash imminent" story in less than 3 weeks. Anyone want to take the over? It's paying 1.5 to 1
why worry?
People should know what's going on and make up their own minds, if I start to worry too much I hit myself with music, tomorrow I'm playing soccer. To each their own, I'm off to have an espresso and enjoy the summer sunshine...
i'm short 2 Indexes and have been calling for a market crash for months longer than TD ..no 'Repent' sign though my fingernails are bitten down a long ways waiting for the inevitable.. and i'd add most Indexes are looking mighty shakey for the past week so if TD calls it right are you going to repent?
Good luck on that short. I might even join you if I see a set up I like. Nor am i saying the market won't have a pullback, but the constant market crash scenario is getting old. Chance of it happening...slim...if it does happen....it usually bounces back...and if it doesn't there is always a bull market somewhere.
correction coming and then you can have one last bull rally ...that's going to be your lot... 2012 it's bears all the way ..you've been warned, ignore ZH bloggers bear tendancies at your peril
double post . . . . or maybe dejavue!
I'm pretty sure nobody is forcing you to read this; and your whinning is getting tiresome.
At some point, whether in weeks or months, it will collapse. So then it seems you want Tyler to say there will not be a market crash and this is a very dangerous place to be right now? Why?
I may not be able to express myself as eloquently as some other people on here, but you'll get the gist of what I'm saying. Man is very egocentric, every problem at that moment seems like its the only one in the world. Very dangerous place to be right now? Seriously. And some of you guys on zerohedge must be lonely up there on your high horse. I read the comments about how everyone out here are sheeple, and you the selected few are the ones that have seen the Light from Tyler(on a side note, Tyler don't stand next to that Fukishima Plant). Get over yourselves. People on here with their constant "look how much gold and silver I bought, give me an ass pat. I see the light"...what a bunch of buffoons. Gold and Silver are investment vehicles nothing more nothing less, there are periods that gold has gone up parabolically...other times it climbs up slowly, and yet others in which it comes down. If the market is not your cup of tea, that fine...but the incessant bashing is in poor taste. Yeah while your gold has gone up 300% or so in the last 7 yrs. Guess what NFLX did in under two or GMCR did in under 1. So use gold and silver as an investment, but remember, you only book a profit when you sell.
paragraphs would help.
history respectfully disagrees with your trader's perspective
useless ignorant whinning. I like being lonely on my high horse. Sooner or later you'll get used to not having a high horse.
The market has crashed every 5-10 years for a while now, it's not about calling crashes but accepting that they happen regularly.
Who are you Jamie Dimon or do you just wipe his ass for him?
Who are you Jamie Dimon or do you just wipe his ass for him?
Oh thats so clever.
The comment from the guy above you was actually one that holds weight. Market crashes happen every so often, just the nature of the beast. Eventually the gold and silver market will crash, then another market will crash maybe oil. These things are just cyclical. But instead of having a proper discussion, you in tried and true groupie of Tyler fashion decide to throw out some dumbass comment that if not irrelevant, is just plain idiotic. Go hoard some more gold...Tyler said so.
"The markets are just cyclical"- that is the problem. Yes, there are cycles. But markets are also Fractal, and we may be close to correcting 200 years of "growth", at least. It is not a matter of "broken clocks" being right, but of understanding the level of risk. It may be much greater than you realize. It may be less than I think.
RealTrade
NFLX may well have gone up 300% in 2 years, outstripping Gold but this suggests you're a stockpicker, which is a mugs game. 95% of stockpickers lose money hand over fist. Over the 7yrs comparing Gold to stockpick's it's a no contest stopped in the first round... and that's not even including the destruction of Bennys inflation on his very own Benny Bucks
Regards Goldbugs "boasting" about their returns and not making a profit until they sell... er, they're not in Gold to "sell" in exchange for worthless Fiat currency, they're in it to retain their wealth when Benny finally annihilates his own product
ZH bloggers are pretty clued up, when we refer to "sheeple" we mean much of the wider public don't have a clue what's going on (they voted Obumma in and Bush before him afterall). If that's patronising well yes it is and we're damn right to patronise quite frankly... beats taking it up the rear not knowing what these parasites are doing to the country (you'll see it in your beloved stocks soon enough)
It's even more funny when you skew facts or take things out of context. Like this Gold run. Yet had you invested in both gold and the stock market in 1980...guess which one would have been up more even after the disaster of 08. I'm not saying stocks are the best bet right now or gold needs to be sold...but keep in mind the cyclical nature of markets...everyone dog has its day.
The funny thing is you gold bugs are getting married to gold just like stock bugs got married to stocks....and they are not my beloved stocks. Just an instrument to grow wealth. You use them as you would anything else.
And as far as you taking it up the rear knowing what the parasites are doing to this country. Guess what? They will do it anyways. You might think you can outsmart/outspend/out maneuver but you can't. And go ahead and patronize the sheeple, ignorance is bliss. The worst thing is you know what they're doing and you have to just sit there and watch. Kind of like a band of hooligans breaking into your home and raping your wife. Well don't just sit there, do something. Why aren't you doing anything? Yeah that's what I thought, you, well really all of us will just have to sit there and watch. You have no voice, just a bunch of spewing on the interweb while those that are like minded around you circle jerk singing old NSync songs.
I love people that say oh you voted for Obama, you idiot. Or you voted for Bush, are you stupid?
GUESS WHAT YOU FUCKING MORONS, YOU THINK IF JOHN KERRY OR AL GORE WON, OR IF JOHN MCCAIN HAD WON IN OBAMAS CASE IT WOULD BE ANY FUCKING DIFFRENT? SO SIT UP THERE ON YOUR HIGH HORSES AND LOOK DOWN AT US SHEEPLE, YOU MIGHT WANT TO TAKE A JACKET ITS COLD AND LONELY AT THE TOP.
Every dog has its day indeed. And while you promote stocks and diss Goldbugs i just pointed out Gold has been the dogs bollocks for 10 years and stocks, wether a stock picker like you or an Index tracker, has been dog shit. End of.
As for "taking it up the rear" from The Paraste Club and not doing anything quite the reverse. Step 1 for me was taking myself off their radar and i have no taxable income, no property to tax no nothing. I live off my capital. They're getting no further funds (taxes) from me
Step 2 when the time is right (social mood turns ultra angry) is to do an Eric Cantona. Not only guide people to remove their money from Big Bad Banks but the No.1 source of all power and corruption in the world, remove their money from Govt. Zero Tax. Stop feeding the parasites and funding their power base. It's so very simple and so very effective
Finally glad you noticed who you vote for makes no difference. Your one step on the ladder to Enlightenment. Next step is to realise Govt is the problem not the solutiion. Hopefully you too will then join the Zero Tax movement to a free society and free markets
I just don't understand the tunnel vision going on about your comments. Gold is more than an investment vehicle, it's a tool of wealth preservation. Have fun with your $1,000,000 bills. Oh and by the way you'll only be able to get a small salad with that amount in 2 years.
It is appropriate that this all follows Bastille Day. Guess this weekends events won't be televised as the private jets get loaded up with gold and off to those safe havens where the thieves will try to hide. We need mug shots and descriptions of all these goons so they can't cross borders.
"Real M1 deposits in Italy have fallen at an annual rate of 7pc over the last six months, faster than during the build-up to the great recession in 2008," said Simon Ward from Henderson Global Investors.
Such a dramatic contraction of M1 cash and overnight deposits typically heralds a slump six to 12 months later. Italy's economy is already vulnerable – industrial output fell 0.6pc in May, and the forward looking PMI surveys have dropped below the recession line.
"What is disturbing is that the numbers in the core eurozone have started to deteriorate sharply as well. Central banks normally back-pedal or reverse policy when M1 starts to fall, so it is amazing that the European Central Bank went ahead with a rate rise this month," Mr Ward said.
http://www.telegraph.co.uk/finance/economics/8636155/Italy-money-supply-...
'Planned major market crash to instill fear and pleading'.... I dont believe it, I'll gladly eat my straw hat if I see the DOW down over 400-500 points in 1 day and it doesnt get recovered and followed thru on the next day. If this market was dumped into by 401K sellers, theres not a damn thing they could do about the ensuing total vacuum tube meltdown and collapse.
Hey SheepDog
>If this market was dumped into by 401K sellers, theres not a damn thing they could do about the ensuing total vacuum tube meltdown and collapse. <
Yep.
This has finally dawned upon the Brussels Bozos and the euro "elite".
Our Alfred E. Neuman look alike currently steering the ship ain't there, yet.
The EUnuchs are hopeless, and for good cause. The euro-experiment has failed. We are just watching as it dies right in front of our eyes. Shame on us freedom lovers - NOT!
Alfred & Co on the other hand can/will get us through at least the next election. After that, we as people actually have to live within our means. Oh the horror...
Triple top anyone? We'll see...
You take it on faith
You take it to the heart
The waiting is the hardest part...
I just have 2 words to say....
"Nigel Farange"
i have 3 words to add..
"..not another Massiah?!!"
the upside in the market seems limited with gamesmanship going on. downside might be perilous. if you were a very wealthy cat why would you risk your wealth relying on eurosocialists, geithner, obama, reid and others.
i think that's what hnw cats are thinking, and they're buying bullion just in case. seems obvious to me.
No. It's too soon. They'll attempt to do "whatever it takes" to keep the EU on its feet until after The Bernank has dropped to the canvas (next year).
It sure is exciting watching two wrestlers engaged in a fixed fight ... especially when the referee can change the rules at any time to keep the fight going longer!
Pass the popcorn, errr peas, bitchez!!
personally, i wouldn't say that 7.22 is a default deadline, or even a legislative deadline
it's obama's bullshit; whatever
from Debt-Ceiling Talks: Slouching Toward Defaultmageddon : It's All Politics : NPR:
We're exactly one week away from July 22, the date when President Obama said he wants a debt-ceiling deal in hand so there'll be enough time for legislative language to be drafted and congressional votes taken to raise the limit by the Aug 2 deadline we can call Defaultmageddon. (End Paste)
august 2 is two weeks from next tuesday. on monday night, the congo can pass a 1-sentence "bill" raising the debt ceiling, and the prez0 can sign it.
or not.
maybe someone will see the need to amend the consitituion, first, i dont know.
listen. the US fiscal year ends sept 30. whole new ballgame oct 1, ok? so let's just kick the can down the road that far, and get next year's buget in to balance, or shut the fuker down.
could we live with that as a compromise? we don't seem to be enforcing many laws or using common sense in goobermint any more, for some reason. we have a process to get the budget under control. how about freaking using it?
even a done-deal budget can be amended can't it? people from different parties work together all the time. let's lock about 6 of em in a room with biden and tell them they can come out when they agree on the first $500 Bil. should take about 1/2 hour @ this point, assuming they're not completely bionic and remote-controlled. yet.
we could call it: slewie's bi-fuking-partisan committee to line-item-veto the dumbass budget b/c the prez can't.
is that too short?
7.22mm? AKA .284 Win.? prefer the classic 25-06, personally.
Another bailout? Just shocking...
http://metthatceleb.blogspot.com/
This is just awful. I thought Greece was out of the woods, all patched up and good to go! A 'soft default'? Oh, when will this madness end?
Can't the US do something? Bomb some of those islands, drive the evildoers out of Greece?
Barack O, TOTUS, the world is looking to you for leadership!
I'm surprised no one has commented that it seems unbecoming for this gentleman to be tweeting. Oh well, maybe it will give fair warning. The day he tweets in Japanese, you will know that it has really hit the fan even by his reckoning.
Von Rompuy..... that's either the father of the evil white haired brat in the Harry Potter movies or it's the guy from Slithering House that runs the EU.
That man is one cold fish.
ps - whatever happened to this particular blogger - I miss her ehhh................ poltical views , yes her political views... nothing else just her political views... thats it I swear.
www.youtube.com/watch?v=Wt6BkaDVNws
Just another useful idiot; help to drive up the price of my December Silver Contract.
I agree, they set that for a day before the July 22 date of the 500 billion dollar US debt maturity. Something bad is going to happen next week in the market. They are talking bout a soft default, it doesn't matter what type of default it is if it doesn't make good on it's debt it's in default pure and simple.
When I hear mention of that soft default; for some reason I keep thinking about that song that goes, "let the bodies hit the floor, let the bodies hit the floor---". But then, I understand I have some kind of personality dis-order, so that probably explains it.
Van Rumpole is sweating like a pedophile at a playground...
I have tried to remain pure and unsullied by Twitter, Facebook & the like, so I could be wrong.
-but isn't the point of twitter that* u get 140 characters only in a message.
Or does that not apply to the chosen few.
* that is how short 140 chars. is
Tyler, how do you explain that?
http://finance.yahoo.com/q?s=NBG-PA
This happen after Herman Van Rombuy's decision to convene a meeting on Thursday July 21.
Some sources insist that europeans will lend money -gradually- to Greeks to buyback bonds at market rates in the secondary market or via EFSF mechanism. Private sector's contribution would characterised as "optional".