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Mario Draghi Press Conference - Live Webcast

Tyler Durden's picture


The ECB failed to provide anything actionable earlier today. There is some hope that Goldman operative Mario Draghi will shed some additional easing light at the press conference starting momentarily, but don't hold your breath. The focus, if any, will be on how many more months will the ECB pretend Spain is both broke and safe, and how much longer until the OMT, which is really the SMP with the promise of pari passu treatment (which has already been proven to be false following the ECB's refusal to be impaired on its official Greek holdings) is actually put to use.



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Thu, 11/08/2012 - 09:30 | 2959993 GetZeeGold
GetZeeGold's picture



Oh good....a press conference. That should fix everything.

Thu, 11/08/2012 - 09:32 | 2960001 dwdollar
dwdollar's picture

Yes, if we just have a few more of those everything should be fine...

Thu, 11/08/2012 - 09:35 | 2960009 GetZeeGold
GetZeeGold's picture



I heard balance sheet adjustment....then I clicked it off.

Thu, 11/08/2012 - 09:43 | 2960027 CPL
CPL's picture

Couldn't watch it at all, half the core switches are offline in NYC and NJ so streaming anything about 240p is useless.


No bandwidth = no message

Thu, 11/08/2012 - 10:51 | 2960313 Enslavethechild...
EnslavethechildrenforBen's picture

They never tell the one single truth: The act of printing themselves paper takes wealth from everyone else, then they use that stolen wealth (paper) to steal the rest of everyone else's wealth with it. The act of loaning money with interest only causes that entity to take out another loan to pay that interest, leaving more debt requiring another loan...

Thu, 11/08/2012 - 09:49 | 2960054 Skip 2 My Lou
Skip 2 My Lou's picture

i rather watch a press conference with Fidel Castro. He would be less prolix!!!

Thu, 11/08/2012 - 09:32 | 2959997 HD
HD's picture

Since Mario knows what he says can spike or tank the market - and yesterday he clearly wasn't too concerned with a sell off, I have to wonder if he now is trying to cause a panic to push the situation where he wants. We'll see if he back pedals or not...

Thu, 11/08/2012 - 09:32 | 2960002 swissaustrian
swissaustrian's picture

Gold just made a dip. Totally uncorrelated...

Thu, 11/08/2012 - 09:35 | 2960010 No Euros please...
No Euros please we're British's picture

Strange, there must be something wrong with my PC, I get no sound.

Oh, wait. I have the lie filter turned on.

Thu, 11/08/2012 - 10:27 | 2960217 BeetleBailey
BeetleBailey's picture

LOL! +10

Thu, 11/08/2012 - 09:36 | 2960012 NaiLib
NaiLib's picture

Apparently he has not seen the text he is reading before reading it out ! Bad bad sign

Thu, 11/08/2012 - 09:42 | 2960025 swissaustrian
swissaustrian's picture

Goldman's media relations branch was busy writing up Obama's victory speech and Romney's concession speech this week. They didn't have enough time this month to give Draghi time to practice.

Thu, 11/08/2012 - 09:42 | 2960024 JPM Hater001
JPM Hater001's picture

He's lieing.  I can see his lips moving

Thu, 11/08/2012 - 10:09 | 2960030 Zero Govt
Zero Govt's picture

inane bureaucratic dribble dribble dribble print dribble dribble dribble bailout banker bums dribble dribble dribble print dribble dribble dribble bailout Govt bums dribble dribble dribble stability needs desperate measures dribble dribble dribble fuck have you seen this bill for stability???? dribble dribble dribble we may be drowning in debt but in my mind we're succeeding dribble dribble dribble

Thank You Comrades

Thu, 11/08/2012 - 09:50 | 2960035 THE DORK OF CORK
THE DORK OF CORK's picture

Labour flexibility again.

This man is a slave masters operative.

He is the enemy.

This was written back in 1995 just as european goverments were giving up their final fig leaf of sov power.

50 Years Ago:
How Bankers Rigged the First, and Worst, Global Financial Crash 

Six hundred and fifty years ago came the climax of the worst financial collapse in history to date. The 1930s Great Depression was a mild and brief episode, compared to the bank crash of the 1340s, which decimated the human population.

The crash, which peaked in 1345 A.D. when the world's biggest banks went under, "led'' by the Bardi and Peruzzi companies of Florence, Italy, was more than a bank crash -- it was a financial disintegration. Chroniclers reported, "all credit vanished together,'' most trade and exchange stopped, and a catastrophic drop of the world's population by famine and disease loomed." 

Like the financial disintegration hanging over us , that one of the 1340s was the result of 30-40 years of disastrous financial practices, by which the banks built up huge fictitious ``financial bubbles,'' parasitizing production and real trade in goods. These speculative cancers destroyed the real wealth they were monopolizing, and caused these banks to be effectively bankrupt long before they finally went under. 

The critical difference between 1345 and 1995, was that in the fourteenth century there were as yet no nations. No governments had the national sovereignty to control the banks and the creation of credit; or, to force these banks into bankruptcy in an orderly way, and replace fictitious bank credit and money with national credit. Nor was the Vatican, the world leadership of the Catholic Church, fighting against the debt-looting of the international banks then as it is today; in fact, at that time it was allied with, aiding, and abetting them. 

The result was a disaster for the human population, which fell worldwide by something like 25 percent between 1300 and 1450 (in Europe, by somewhere between 35 percent and 50 percent from the 1340s collapse to the 1440s).

This global crash, caused by the policies and actions of banks which finally completely bankrupted themselves, has been blamed by historians ever since on a king -- poor Edward III of England. Edward revolted against the seizure and looting of his kingdom by the Bardi and Peruzzi banks, by defaulting on their loans starting in 1342. King Edward's national budget was dwarfed by that of either the Bardi or Peruzzi; in fact, by 1342 his national budget had become a subdepartment of theirs. Their internal memos in Florence spoke of him contemptuously as ``Messer Edward''``we shall be fortunate to recover even a part'' of his debts, they sniffed in 1339."

Thu, 11/08/2012 - 09:58 | 2960083 libertus
libertus's picture

Can you give a couple of sources of info on this event. I'd like to read more about it. 

Thu, 11/08/2012 - 10:16 | 2960129 THE DORK OF CORK
THE DORK OF CORK's picture



Gold is not the answer now - the eurozone is a deadzone.

There was some initial gains in Gold all those years ago but then there was a break down in life support systems.


Only national units of account in conjunction with some dirigisme policies can save little bits and pieces.

But "labour flexibility" will not change anything.

It will just redistribute the declining capital base.


European states should declare open war on the ECB and their present naive host country Germany.

Thu, 11/08/2012 - 10:11 | 2960140 Alpha Dog Food
Alpha Dog Food's picture


"Labour flexibility" is such an innocent sounding phrase. It dupes the masses.


Did I once see you on Irish Economy dot ie?

Thu, 11/08/2012 - 10:57 | 2960321 THE DORK OF CORK
THE DORK OF CORK's picture

My account was taken down after this exchange.........



You call people a crowellian operative in Ireland and it rubs people up the wrong way - especially if they are of a cromwellian nature.


The conquest of ireland is a tale of 2 conquests.

The first Norman invasion actually improved the place.

The second cromwellian new model army invasion was backed by the venetian banking system.

They striped the country and turned it into a ranch,


History is repeating itself - we are living through a second plantation phase in our sorry Irish history.



Thu, 11/08/2012 - 10:53 | 2960322 THE DORK OF CORK
THE DORK OF CORK's picture

double post.




Thu, 11/08/2012 - 09:46 | 2960040 SheepDog-One
SheepDog-One's picture

Must. Ease. Moar.

Thu, 11/08/2012 - 10:07 | 2960108 Zero Govt
Zero Govt's picture

dub dub post

glug glug...

Thu, 11/08/2012 - 10:06 | 2960116 Zero Govt
Zero Govt's picture

He's the band leader on the Titanic, must play sweet summer music while drowning in ice cold salty water

Thu, 11/08/2012 - 09:48 | 2960048 Alpha Dog Food
Alpha Dog Food's picture

Something about this guy always looks insanely evil. He should be in a Bond movie or something. Or maybe the evil mastermind behind the zombie invasion of the earth.... oh, he is.

Thu, 11/08/2012 - 09:49 | 2960050 RSloane
RSloane's picture

"labor market flexibility and mobility" = don't plan on getting a job in Spain or Greece.

Thu, 11/08/2012 - 09:58 | 2960086 youngman
youngman's picture

If he does not mentions McDonald sales tanking in Europe...he should be the head of the ECB or something...

Thu, 11/08/2012 - 10:01 | 2960095 PUD
PUD's picture

You will believe what the high priests tell you to believe. They alone know the will of the money gods...Alah Akbar! and Dragi is his only prophet!

Thu, 11/08/2012 - 10:05 | 2960112 e-recep
e-recep's picture

how can i prevent the video from auto-loading and playing?

Thu, 11/08/2012 - 10:06 | 2960115 spastic_colon
spastic_colon's picture

like listening to the bernank with an accent....same words

Thu, 11/08/2012 - 10:09 | 2960134 jmcadg
jmcadg's picture

Draghi - Quote - 'By and large the ECB is done' Says it all.

Fri, 11/09/2012 - 10:23 | 2960154 Zero Govt
Zero Govt's picture

"..we've removed all the tail risks.."

mind the grave (debt hole) you've dug up ahead Mario

Thu, 11/08/2012 - 10:24 | 2960177 larz
larz's picture

zee zus tain a beel a tee       He's got GS written all over himself


omg I cant watch these fucksticks anymore that includes Obama Biden Benny boy Draghi Romney Jesse Jackson Al Sharpton MSM in general..etc etc

Thu, 11/08/2012 - 10:21 | 2960182 Joe A
Joe A's picture

He says that all is well in Europe so we can go back to our lunches.

Thu, 11/08/2012 - 10:25 | 2960206 Reptil
Thu, 11/08/2012 - 10:26 | 2960209 Zero Govt
Zero Govt's picture

Comrade Draghi wants to "improve at management level" his ECB equal opportunities program, he's "succceeded" at staff level he says

I'd be more worried about politicians and bankers balancing their budgets than promoting Marxism in balancing the sexes

priorities Comrade priorities 

Draghi fiddles while Rome burns

Thu, 11/08/2012 - 10:30 | 2960232 jmcadg
jmcadg's picture

So they're going to show the new €5 note on display in the archeological museum. How apt.

Thu, 11/08/2012 - 10:36 | 2960254 Zero Govt
Zero Govt's picture

a picture of a dinosaur and Draghi on a bank note would be spiffing

he's due for extinction soon

Thu, 11/08/2012 - 10:32 | 2960239 Zero Govt
Zero Govt's picture

Oh they've got 3 new security features for the Euro notes ....mass counterfeiting is already rampant with the current notes, I suspect the black market will have the details already before these dinosaur Euro monopolists even get the triple-turkey on the market

How about a free market in money guys, you clearly can't keep pace with anything you old farts

Thu, 11/08/2012 - 10:33 | 2960242 RealityCheque
RealityCheque's picture

the ECB counterfiets its own currency, why cant we get in on the action as well?!

Thu, 11/08/2012 - 10:39 | 2960265 Zero Govt
Zero Govt's picture

you mean they're counterfieting their own counterfiet wealth??

once you start i suppose you can't stop!

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