This page has been archived and commenting is disabled.
The New Normal - Greek Government Bonds +330% In A Year
Presented with no comment - because none is needed...
Of course, these GGBs are nothing but a near-zero-coupon perpetual PIK bond (which perhaps explains investors' appetite since this is by definition the trashiest of the trashy to dash for) - at a 2% coupon (yield is irrelevant since it assumes principal recovery), they will never get repaid, are majority held by the official sector, and are simply being 'traded' with marginal free money as a pure flip-that-bond bet - with no view on cash-flow generation at all.
Charts: Bloomberg
»
- 13599 reads
- Printer-friendly version
- Send to friend
- advertisements -
And they say the worst is over...pretty much indicates the dash for trash is the only way to go while Central Banks dance.
"That looks like a fantastic investment opportunity!" said no one ever! (except the Central Banks)
So that's what equity markets are from now until oblivion...ride the trash until the crash. Bubble after bubble. Kinda like 'The Ring,' make sure you fuck someone else so you don't get fucked.
Bullshit all around.
My problem with central bankers buying up trash, is that at the end of the day they will own the whole world - as trashy as the world will be by then. A one world monopoly on all the shit - but if you don't eat shit you die. It's not a happy ending really.
Yeah, what IS stopping the central banks scum sucking shit from buying everything? They're already buying ETFs, stock? The Fed owns a huge portion of real estate in the US. Total bullshit. The only thing it doesn't own a substantial portion of is MONEY, which it is destroying. Fucking bullshit.
This was the plan all along, starting with Meyer Rothschilds takeover of the British bond market.
So here we are some 200 years later.... the shylock borg tentacles continue to entangle and assimilate every last remaining bit of sovereignty.
Iran, NK, and Syria next on the chopping block. What a sad fucking world this is.
Compare GGBs to gold in the same timeline to uncover a basic lie.
Knowing Corzine, he bought these for his own account and shorted them with MF Gloabal's money....well played sir
Sociopaths are in charge and are all in...there is no wavering now. Circle jerk of the elite to play yen carry trade roulette with a fully loaded pistol pressed against the publics head.
Definition-
Slavery is freedom.. in the world of central planning finance
(term reversal intended)
> Sex life impersonal, trivial, and poorly integrated
Wow. That sounds a LOT like the Obamas. Michelle has Barry's balls in the palm of her hand. Squeeeeze! "Do you love me Barry?!". Squeeeze!
At least they still have their beloved Euro.
All in!!!!
/snark
Are these bonds denominated in gyros?
Mmmmm with Chinese lamb rat meat.
In a casino, the house always wins and in all the electronic exchanges, the too big to fail banksters are the operators. Armed with funds from the FED and using High Frequency Trading softwares and Derivatives, they move the markets exactly where they want it to cause maximum losses to the traders and the hedge funds.
Even if they do make a loss, their budies, the central bankers and politicians are there to transfer their losses to the taxpayers so that they have a 100% success record in transfering wealth to their coffers from rest of the world.
http://www.marketoracle.co.uk/Article40231.html
yeah, you're pretty much preaching to the choir
"gee, it's almost as if the only way to win is not to play"
All I am saying is that if you are gambling your money in a casino, winning is a chance of probability. Investing is not gambling, you do not gamble away your savings.
mmmm pizza.
I disagree. They will be repaid by the bigger suckers. And since we have the central banks to fall back on, we will never run out of suckers.
In a world awash with liquidity, this is what you get. So long as the printing presses are going strong, and the expections are for them to continue printing, unless there's a crisis of some sort, asset prices will continue higher. It has nothing to do with reality, fundamentals or any other rational thought process, except unbelievable amounts of central bank liquidity chases too few liquid assets.
These policies generally trigger inflation. So far, the worst of these fears go unrealized.
I wonder what the "zen" moment will be. The trigger, so to speak.
Don't worry about Greece, Italys only tax payers have decided that their products ain't for plebs.
http://www.telegraph.co.uk/finance/newsbysector/transport/10044827/Ferra...
... in other news, Lamborghini reliability has markedly improved, since being bought out by German group Volkswagen. Ferrari's? Still temperamental, unreliable, ... works of art.
Flipping everything in a bubble-fed world. It's a recipe for ultimate disaster!
With "assets" like these, who needs loss reserves??? Lever this one to the moon cause Mario, Ben, and Kuroda will do "whatever it takes".
I've only been monitoring markets for a couple of years now, but it seems like the only way to get rich is to invest in the shittiest garbage possible. Bitcoin. Greek bonds. Drawing a blank after that, but from the most fetid fecal matter the most beautiful lotus does grow.
Behind the scenes, medeterenian banking is being recapitalized. Bonds are being bought.
There's no difference between Greece and USA. USA cannot pay the debts either, large chunk of the interest is borrowed again, so pay in kind as well. The notable difference is that investors haven't panicked about USA bonds, but paniced regarding euro bonds. It is all perception. If Greece did not have a panic, there's no reason it can't roll over debt on top of debt like other countries' central banks do.
Do you want BAC at $5? try NBG at, well over a dollar now
http://finviz.com/quote.ashx?t=nbg
Darn thing is up 20%, today. A Greek Bank. So, does that mean Greek citizens would *welcome* being forced into a bail-in, as a sure-fire way for the mass of depositors to start seeing daily 20% gains in assets.
When does my stinking country get around to doing something like this for *its* citizens?!?
You sir are correct - all sovereign bonds held by major banking centers are effectively all the same risk now. All bonds will only yield ever lower as ultimately they all have equivelant risk (coordinated printing presses, same inability to allow default). Greece, Spain, Italy, Slovenia, Japan, France, US...all will ultimately yield next to nothing and this facade of differentiatd risk offering arbitrage will be closed. Yen carry traders will buy up everyting yielding anything costing them effectively nothing.
Look for GGBs to be trading inside of Bunds by the end of 2013. Smell the Greek recovery!
When you can turn hideous stench smelling feces to flowers by manipulating electrons with key strokes.
I can assure you I can assure you I can assure you
You will witness a reversal that has never been seen on this planet....When this finally comes to an end... it's going to be beyond anything anyone has ever imagined... and I say so with no smile on my face.
The British won the Battle of Waterloo. What did the Greeks win?
Correction: I was Rotschild not the British! He made most money of it.
Ah, shit, and I invested in the S & P!
Corzine is vindicated! Now that he is proven right, release that man from jail!
FREE Jon Corzine!
So who profited from these fantastic returns?