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Quote Of The Day: SNB's Jordan "Base Scenario Doesn't See Euro Collapse"
While Nassim Taleb sees Switzerland as the poster-child for what Europe should become, the quote above from SNB's Jordan begs the question - which scenario does include the Euro Collapse (and remember, as he tells us, the Franc cap is 'not' currency manipulation).
- *TALEB: FOR EUROPE TO SURVIVE MUST BECOME MORE LIKE SWITZERLAND
- *JORDAN: FRANC CAP ISN'T CURRENCY MANIPULATION
- *JORDAN: SNB MAY NEED TO TAKE LIQUIDITY OUT OF MARKET EVENTUALLY
- *JORDAN SEES SUBSTANTIAL RISKS WEIGHING ON SNB BALANCE SHEET
- *JORDAN: SNB BASE SCENARIO DOESN'T SEE EURO COLLAPSE
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The day ain't over yet.
No it isn't.
And J.P.Morgan and Prudential Insurance are walking a fine line, illegie at that, but always do your best carry trade.
The worst blind is he who doesn't want to see....
Maybe he should read the previous ZeroHedge article about the Bank of Japan?
It ain't pretty...
Any central bank that creates money out of thin air, cost Zero, buys interest bearing instruments and carries them at book resulting in a loss ....
.... should be a governmental agency by virtue of competency
That's IT they got it finally! We all just need to become like Switzerland!
The hill's are alive with the sound of CHA-CHING!!
Oh, I see, so Europe should just peg the Euro to the Franc?
Not sure what it means...maybe become better at making chocolates? Anyway, problem SOLVED time for equity lift-offs YAY we did it!! Dora - We did it - YouTube
The hills are alive with the sound of SIG Sauers!
And look at the gun range!
Like an "Augusta National" Shooting Club
Betcha they got waitresses serving chocolate, schnapps, beer and those great Swiss cold meat and cheese breakfasts with wonderful coffee, and steak tartare whilst dressed up in those big people leather droodle leprechaun outfits.
Man, they could do a new magazine "Gals and Ammo" with the blonde hotties in sexy lingerie all decked out in expensive firearms....
Cue the Von Trapp Family...
VT family, with guns. Trap shooting.
And more illicit offshoring of money. So, your country's rich people bank their
filthy lucre in my country and my country's rich do the opposite.
Then , Mr Von Trapp can join the Banker Mafia that passes for police
and government, so that nobody can complain about the banks' malfeasance.
And the gates of hell open up and swallow us all.
Amen
thanks Mr Taleb
The guy's gone from guru to train wreck in 2 days. Bring on the next piece of meat.
Euro will survive in 2013 it will by 0.50 http://www.freefdawatchlist.com/2012/11/stocks-for-nov-28th-gmcr-adi-cpr...
Doesn't the very fact that he is even addressing the issue make it a real possibility?
"which scenario does include the Euro Collapse" the one not covered in whipped cream and cherries. ie, realistic.
That would be the well publicized scenario that involves calling up the militia and reinforcing the borders...
http://euobserver.com/economic/117873
Some 2,000 officers took part in the "Stabilo Due" military exercise in eight towns around the country, based on a risk map detailing the threat of internal unrest between warring factions and the possibility of refugees from Greece, Spain, France, Italy and Portugal, according to Swiss media reports.
And more from the same article...
So, the whole Euro needs to be tax avoidance heaven. Aren't they doing this now.
Ummm...and again...when are folks going to start calling the latest and greatest Greek stick save what it is? It's an f'n default!
So the entire continent of Europe must become a base of operations for Banks & corporations where nothing much else happens.
I thought that was the plan anyway ?
They see a collapse of the physical economy but not the claims on the economy.
I guess it can last for a bit but not forever.
Taleb is a Dork.
How come they don't teach political economy anymore ?
You Know - where the political & geographical / physical economy interacts ......inputs and outputs and all that lark......
They do at the University of California at Berkeley.
And here is a result...
"When things get serious you have to lie" - some stuffed shirt.
"Base Scenario Doesn't See Euro Collapse"
Well, OK.. but all the other scenarios do.
He says that, but I bet he's looking to find new and interesting ways to replace their massive amounts of Euros/euro bonds with something less risky, like the Yuan, or the Korean won, or gold/silver/copper, or Ben Bernanke's scalp polish...
Maybe we are in the split second right before the crash where time slows down and it seems like an eternity. The life of FIAT flashing before our eyes.
The Central question remains : is where the fuck is the flow coming from ?
Global and inter european chain of supply systems are not sustainable.
So much energy is wasted via "trade" that nothing remains for net capital growth.
Indeed in most countries capital is in a dramatic state of depreciation.
THE SUPPLY CHAINS ARE TOO LONG.
Don't you mean there are too many middle-men extracting wealth for doing nothing productive? Seems unavoidable with central banking/fiat/frac reserve systems, no?
Just asking...
As for flow... I still like that Eminem. He's got mad flow.
Me, I'm a lyrical murderer.
I know you think I did but, yo - I never heard of ya.
http://www.youtube.com/watch?v=21w60AU8NzA
I can fix this, uuhh wait no I can't NVM.
Isn't "base scenario" supposed to be the worst case?
I suppose that the Skittle shitting unicorns and their Leprechaun friends only see rainbows.
A figure that is hard to believe but true
The number of Irish vehicles regs. under current licence increased in dec31 2011 relative to dec 31 2010 !
Although motor cycles ,goods vehicles and public service vehicles declined with working vehicles such as tractors & dumpsters more or less static. (slight increase)
Private cars Y2010 : 1,872,715
Private cars Y2011 : 1,887,810
However a dramatic ageing of the fleet is seen.
31 dec.Y2010
Private cars 4 years old and older : 75%
Private cars 6 years old & older : 56 %
31 dec.Y2011
Private cars 4 years old and older : 79 %
Private cars 6 year old and older :60 %
If we look at Y2007
Private cars 4 years and older : 65 %
Private cars 6 years and older : 50 %
http://www.transport.ie/upload/general/13673-BULLETIN_OF_VEHICLE__DRIVER_STATISTICS_2011-0.PDF
Ireland is becoming a northerly Morocco
A land full of old Mercs.
The ageing of goods vehicles is far more dramatic
Y2007
Vehicles 4 years old and over : 57 %
6 years old and over : 40 %
Y2010
Vehicles 4 years old and over : 73.4 %
Vehicles 6 years old and over : 50.5 %
Y2011
Vehicles 4 years old and over : 82.3%
6 years old and over : 57.7 %
If a banking fiefdom ever needed a devaluation against other banking fiefdoms so as to direct money energy into productive work (building tram lines ?) it is Ireland.
Also diesel (all vehicles) regs have now gone past the 1 million mark for the first time.
1,022,729 or 42.17%
Y2010
946,912 or 39.19 %
Y2007
821,212 or 33.64 %
The car fleet is simply unsustainable.
If devaluation is not a option capital controls / massive tax hikes on further private car imports should be made yesterday and all remaining fixed capital creation put into rail and tram connections.
capital controls = no Euro.
http://www.youtube.com/watch?v=jv4lkswxpZM
http://www.geograph.ie/photo/1856275
Its all Ponzi now, and Ponzis take no prisoners.
How is it Ireland's young people are fleeing for lack of work... yet the Irish government figures it a good idea to let in massive amounts of immigrants?
How does that work?
It doesn't make any sense... unless your plan is to de-Irishize Ireland, which maybe, just maybe, is the very idea...
https://www.youtube.com/watch?v=2tFsgo7S8n4
WTF, didn't you post this shit the other day?
Knock it off, train guy.
I would rather suck Von Rumpeys balls than live a non life in boring fucking Switzerland! Fondue eating, no side picking, always on time mountain dwellers. Beige is their favourite colour ffs.
Wow, that is an appalling choice, sir.
If the alternative was to suck on Nancy Pelosi's breasts, we would get the point and move on.
@Titus
We are a market state.
@Titus
We are a market state , not a nation state.
They stopped showing the national anthem on television about 20 years ago now.
www.youtube.com/watch?v=wygzJtJwPnk
It was certainly a more sustainable method of control.
Now its every man for himself
I course the controllers want this outcome
www.bbc.co.uk/news/uk-politics-18519395
As you can more easily pick the marrow from the bones of the former nation.
The architect behind Ireland's admittance of thousand of African immigrants is also Irish born - Alan Shatter.
Like the Bilderberger and Goldmanite Sutherland, I suspect there isn't a lot of blood flowing in their veins, hence their easy anti-cultural "globalism" for every country on earth.
Well, probably not Israel.
Become more like Switzerland.
Throw out all the alien visitors?
The reading between the lines says: base scenario is bullshit, euro collapse is imminent.
I have to admit, it gives me pause, how long these idiots in Europe have kept this ball rolling with bonds in the 5%-16% range in South Europe and rage building in Germany!!! It should give us a cue in America, just how long this game can go on! Without shit burning or an all out ballot box revolt, we better hunker down for the long haul, and shorting this shit should be a fantasy at this point!