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European Markets Sliding (Fast)
FX, bond, and stock markets in Europe are not happy. As the EURRUB sees it biggest drop this year (Ruble buying), it appears whatever confidence-inspiring Dijsselblom believed in last night has faded rapidly as Italian and Spanish stocks plunge to the lows of last week (after opening gap higher). Italian and Spanish bank stocks are on-and-off halted. EURUSD is getting hammered. Italian and Spanish bond spreads are blowing wider from gap tighter openings. This is not good... The reason appears to be:
- Cyprus a Template For EU, Reuters Says, Cites Dijsselblom
- *BANCO POPOLARE SHRS HALTED AFTER FALLING 4.84% IN MILAN :BP IM
- *TELECOM ITALIA SHRS HALTED AFTER FALLING 3.81% IN MILAN :TIT IM
- *INTESA SHRS HALTED AFTER FALLING 5.72% IN MILAN :ISP IM, BP IM
- *MEDIOBANCA SHRS HALTED AFTER FALLING 3.95% IN MILAN :MB IM
- *MEDIASET, FINMECCANICA, UBI SHRS SUSPENDED IN MILAN LIMIT DOWN
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Rerehypthecation underway!
one could only "hope" that people are waking up.....since "hope" is the new bestest asset class
Cyprus... Another BIG Euro Feckup.
How Many More Feckups Can This Place Take ?????????????????
that number would be somewhere south of zero
Showtime. Europe in trouble again and will generate market turbulence. If Uncle Ben was thinking get off the throttle, he will have to postpone that idea.
Hearing that DieselBoom [educated in agriculture] went long tulips last Friday, and sold ALL EUROPEAN FINANCIALS [including all billionaire deposits] against the position. Since hardly anyone questioned him seriously last night at the presser, hearing that he is feeling pretty good about it.
In the US, financial services companies are currently submitting legislation to tear up shed floor boards across the entire country, while also advancing legislation to change the US currency from the dollar to shares of GE.
We all live in a cosmic bunny hole....everyone...sing along....
DieselBoom [educated in agriculture]
DieselBoom + fertilizer = ANFO
Fresh start, bItCHeZ!
"In the US, financial services companies are currently submitting legislation to tear up shed floor boards across the entire country" what is this, Cdad?
It's a flamin' cosmic bunny hole gone super nova, buddy. Advise strapping fire extinguishers to your pants and lololololing a lot about the pathetic state of affairs. Oh...and prayer.
Pretty soon we'll see people auctioning Twinkies on Ebay. That would be pretty fucking insane.
indeed.....well stated ....
Here comes the Bill Auction to save the day!!!
blanket european capital controls in 3....2....1 /s
I like the smell of fresh CARSH on a Monday morning!
Just roll over you bitch! These grotesque necrotic bastardizations of what were once called markets need to die and decompose so something real can some day grow again.
Watch apple climb now that people are realizing it's balance sheet makes it safer than most banks.
Cos Apple doesn't keep it's cash in a bank?
Way too funny!
The music is stopping and the first player without a chair is Cyprus. Next round will be Greece. Now that people know the gave why the fuck would you have any asset being held by a bank under the thumb of the ECB? I suspect massive amounts of cash will start moving around real soon now.
They call them zombie markets and zombie banks for a reason...
one would think that this funny money would seek gold
HAHAHA Dutch Finance minister says that this wildy successful bail in will be institued elsewhere.
Is your bank safe?
If not, when you pull your money out, is the bank you are considering putting the money into safe?
This is quite the conundrum.
Sure ~ because there's Russian mob money stashed all over the place... All you have to do is walk into Teddy KGB's place & pluck it out of his hands...
this is way beyond russian mob money now.
Piece of pie!
Yepper, it's into US Bank, excuse me, US taxpayer money
Cyprus a Motherfuckin' Fascist Template For EU, Reuters Says, Cites Dijsselblom
Knuks calls it disintermediation bitchezz
the ZH blue collar crowd like me call it;
Dismemberment Bithchezz!!!
In the news here, they are saying that the stocks are happy.
Rehypothicated turds floating down the Rhine
Maybe because of this little pearl of wisdom?
Eurogroup’s Dijsselbloem: “Cyprus bank restructuring she be seen as template for rest of eurozone.”
and this one
RTRS: Eurogroup's Dijsselbloem says uninsured depositors can be bailed-in if needed
"I am done with your stash tovarish, next i turn to you paysanos"
Really? They said that? Out loud? Was there a maniacal laugh associated with the comment?
No it was more of like an, "Oh shit, was this mic on?"
"Cyprus bank restructuring she be seen as template for rest of eurozone"
Cyprus is a one-off template now?
There's a paper on bail-in from the Swiss regulator:
http://www.finma.ch/e/finma/publikationen/Documents/be-swiss-SIFI-policy...
OK, maybe tearing it out of context but good for a comment here, page 14:
FUCK YOU SCHAEUBLE!
Comrades, to the bunker!
Not good? I'd say that depends on your perspective.
Maybe Corzining Russian mobsters wasn't such a good idea after all.
@Dr. Engali
Not something I would try. All of these rips are just opportunities for the bankers to sell their inventory of crap financial paper.
I would say that if you aren't out of the system by now you better get the hell out fast. The Bernank's printing is about to be overwhelmed IMHO.
I bet it won't be long before we start reading about the mysterious rash of suicides of EU bureaucrats and bankers in the DailyMail. We live in interesting times.
Let's just hope it's contained to that and it doesn't explode into something larger.
Well, Kyle Bass predicts war in Asia. I think Faber and Rogers thinks we'll have a war too. The financial crisis is not gonna end nicely. Like Celente says, you better have your 3 G strategy in place: Gold, guns and a getaway plan when the SHTF.
My Getaway plan was to getaway to Cyprus (nice little island, warm and sunny, friendly people, protected by the British Army....)
I'm coining the new term: EU brass, bankers and their pols are in danger of being "mortalized".
ZH, I have a problem with the site, I can only mark the parent comment up by one. Could you add a +10 feature please?
"Diesel Boom" thinks that this is a model for future bailouts.. after he took a few puffs of the peace pipe.
Can't be good?
It's good if you have a bowl of popcorn?
They have seen the future! Confiscation is an option!
Gee, why the fuck would stealing depositors' money cause a crisis of confidence?
The Good News - You have prevented a run on the Cyprus Banks.
The Bad News - You have started a run on all other European Banks.
'...prevented a run on Cyprus Banks'. If you lived in Cyprus, would YOU be leaving your money in the bank after this past weeks' events?
Nothing capital controls can't fix.
Of course, once limits are imposed on the movement of capital and money stops crossing borders, goods and services tend to stop crossing borders as well. That's usually when troops start crossing borders instead.
And smugglers.
DieselBoom's template will create thousands of jobs in the 'informal sector.'
Silently, the run has begun,,,here. It's a walk in the park, checking behind every tree, every bush, over the shoulder at every turn.
Yeah but don't worry because CYPRUS IS SAVED!
or so they tell me
Russian hardware stores are experiencing a run on sales of blowtorches and pliers ...... Not looking good for the EU, a return to "Midevil" times indeed....
Hmm. I knew I should have put money in that Russian fund. Their market has a p/e of something like 6. It comes "pre-crashed".
Run ...
RUN? YEAH SURE...RUN TO BUY THIS DIP, RESCUE HAPPENS BEFORE CLOSE FOR THE ONE MILLIONTH TIME. GET A CLUE BOYSCOUT!! BETTER YET, SHORT METALS AND BUY EQUITIES...ANY EQUITIES!! THEY WANT TRAINED MONKEYS - BEHAVE LIKE ONE AND PROSPER! BWAHAHAHAHAHAHAHAHA!!
Dow Jones Industrial fell 100 points for 10a-11a EDT.
http://bullandbearmash.com/chart/dow-jones-hourly-hour-moves-equals-90-p...
Currently sitting at 14450.
Let's see if Ben and Barry can stop the bleeding today.
Looks like Binny and his 3 billion a day doesn't go as far as it used to. Binny, gonna put in more (or take it out).
at last
what about Gold?
thats all I care about now
its obvious to anyone with an IQ above 50 that since 2008 the only place to be is gold and guns
its has been a painful 5 years aof smoke and mirrors but we all know anything written in paper be it currencies, stocks or bonds is toast
ist a paper apocalypse
obvious
the defaltion and inlfation debate is a waste of time when we will have both
an inflationary depression as Dr Paul Craig Roberts says
They were supposed to put the printing press in front of the bank run not the cart before the horse.
Fishbowl has started. Next up all of Euroland..then as pointed out so eloquently on OathKeepers..
this bitch is rolling over like the french army
Central planners are getting better at allowing a little blood letting, just to make everyone think the market is real. but before it gets too bad, they'll step in. well played....
This is Bank Robbery on a GIGANTIC scale
Eurogroup head: Cyprus deal template for banks
there ya go!! they intend to steal it all!
at best, the Cyrpus "solution" will cause those with deposits greater than 100k to open more accounts such that none of the accounts hold more than 100k. This however will bring back the original Cyrpus solution to haircut all depositors to the PIIGS ;). So in reality, there is no place to hide for those who hold cash balances. will they buy gold? will they buy equities? what will these people/entities do then? among the entities i am more interested in the likes of Apple, Google etc. who hold cash hoards overseas....
If all accounts are below the insurance level (which they will be), then everybody gets a "haircut" next go round. How anyone had uninsured accounts, after 2008, just goes to show how stupid big money can be...
You take Russian money, you also will get Russian lead.
Next they will be after ALL the money in the bank
Then onto the 401Ks and IRA accounts.
luxembourg is next.
This unelected santa claus Barrosso is saying HE IS heading more european funds to Cyprus, to boost economy and bring social peace .... this 10 B loan is just a cover up to spend billions and billions more in none productive shit. After that, Cyprus can help support Slovenia, the next terminal patient in this bureaucratic fairytale.
Just remember: It's not your money, unless it's in your possesion.
Tungsten parachutes for sale.
Expect Russians to promply hike energy prices to make all EU pay back what was stolen.
Things are much worse now and were only back to Friday's close on the SPX.
Today's intraday high: 1564.91
Oct 2007 record close: 1565.10
This was a test. It was only a test ...
"Cyprus a Template For EU, Reuters Says, Cites Dijsselblom"
Yeah, stealing account balances over the insured limit is a template, alright -- for a bank run.
The fact that gold can sell off in an environment like this instead of scraping the ceiling like 2008 shows just how much of that market has been compromised. Can't wait for inventories to hit zero for COMEX like they have for the dutch bank Tyler posted about yesterday.
I'm not looking forward to the average person suffering, but I'll admit seeing a few members of TPTB go down in flames along with their currency that caused all this will bring a smile to my face.
Now I have the proof that Zero Hedge is a CIA shill.
No news of the slide in the Dow Jones of almost one percent, just this???????????????
C'mon Tylers, you can do better than this.
Better put a /s in it.
;)
DisselDouche IQ?
first word of this website comes to mind.
The US and European markets have no business being at the levels they are at. They should have followed Japan's path years ago.
FUCK YOU, BERNANKE!!!!!!!!!!!!!!!!!!!!!!
<--- Sheep know what 'bank holiday' means
<--- Sheep are still asleep.
How can anyone like to see 'cash controls' put into practice and a political mentality of "if we have your assets - they are ours" going on here with CBs, Bankers, Govts, etc.? They already ARE in our pockets with taxes, pensions, profits/losses and bonuses from their market machinations, straight up printing of money etc. Let alone up are asses with drone surveillance, etc.
Now they want straight in on the main 'cash' arteries.
EVERY person LARGE AND SMALL has reason to be paranoid about assets right now. The only ones who don't give a shit are the ones 'on the dole' and this number is large and growing quickly.
The future of cash shearing .. coming to a deposit account near you to feed the hungry lazy, disabled, unworking masses on EBT and whatever other GOVT PRO-GRAMs. Then next gold and silver (after the confiscation the prices can rise from 2K gold, $30 silver to 50k gold and 3-5k silver. ;) After that one they can then go after what is left and easy pickin's anyone owning real estate (first by special land or property taxes) later by direct 'emminent domain'. They probably will just sweep through and try to confiscate assets food/water production under martial law directives (state of emergency) and such (already signed emergency acts). All of course created by them to simply tap humans out in the most direct ways and at virtually all levels all in the name of 'protection' and 'civilization'.
I'm sorry masters, but even you can't be 'THAT' stupid to allow this one to pass. Simply out of self preservation (the master can be sheared just as easily as the sheep).
What has been done this weekend in Cyprus (the statements and original intentions) really show people not what those in power are thinking, BUT ultimately what they might be capable of DOING, and that there is no intention to stop. The DEBT monster created (and growing larger every day) NEEDS to be FED.
Now we are feeding it 'asset cash'. We used to be just feeding it new debt paper.
NOT GOOD.
One thing the FED has to realize is once 'confidence' is broken - there is absolutely NOTHING they can print that will re-instill it. NOTHING. This in fact was what America used to stand for 'TRUST'. When you had a USD backed by Silver or Gold - exchangable at any bank, with contracts backed by decent courts, and laws, as well as a US military and good hard working people within a decent production economy (not the hollowed out piece of shit economy we now have). Meant you got paid if you were owed, and if you owed you'd be dealt with. At least we 'could' believe this to be true in past times.
NOT NOW.
Today the US military f's with anyone it wants, solely for its own interests (doesn't care about TRUST but cares about POWER). LAWs are a JOKE because they are SELECTIVELY APPLIED, and there appear new exemptions in the BANKER or TBTF catagories, and a complete lack of backing of the currency by at least one or more tangible assets(pms) people could exchange for at any bank or negotiate with them for other things as was specifically provided for in Article 1 Section 10 of the US Constitution (and never amended contrary to popular law opinion).
Hence here we stand - right at the brink looking at exactly what it means for every person on this planet (including the masters themselves) to become enslaved to their own 'asset eating debt monster'.
Brilliant job banksters, bully for you.
Is it time yet to slay the beast, or shall we feed it more bodies today?
And BTW how many bodies are we the people going to be REQUIRED to feed it with so I can start growing the required body mass to 'donate'.
Signed,
an Old Ant
Red is your favorite color, no?
Still no headlines of 'Dow Slumps'. When is a one percent fall not newsworthy? When the USA needs to beat up on Europe (once again).
'ZH = 'merikan shills. Part of the great 'merikan misinformation service?
Say it isn't so.
why the fuck are banks halted after falling 4 percent?
we have had days( the rare occasion) where banks have fallen way over 4 percent and had not been halted, yet 4 percent and they halt them?
Once the guns are gone, so is the money.