A Week In Italian Banking Stocks

Tyler Durden's picture


In case investors in the US were lulled into believing that since the Dow is limping higher, after a full-court-press open-mouth-operations week of jawboning from the Fed, that all is well again; we present, the Italian banking system. In the last week, stocks in this sector have had 8 swings of approximately 6% up or down. Still think all is well in the world of highly-levered high-beta risk bets? Mint Partners' Bill Blain explains why European banks are collapsing...



Wondering why? Mint Partners' Bill Blain explains (at 2:20 - though the entire clip is worthwhile)...


Chart: Bloomberg

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Fri, 06/28/2013 - 10:49 | 3703290 Bearwagon
Bearwagon's picture

Scendere il mio prato!

Fri, 06/28/2013 - 10:50 | 3703292 swanpoint
swanpoint's picture

Ag & Au reverse.. silver big

Fri, 06/28/2013 - 11:04 | 3703319 walküre
walküre's picture

short squeeze is in

Fri, 06/28/2013 - 10:55 | 3703299 buzzsaw99
buzzsaw99's picture

I would give my Euros to Jon Corzine for safekeeping before I would put them on deposit at a euro bank.

Fri, 06/28/2013 - 10:56 | 3703300 reload
reload's picture

Is this the same MINT PARTNERS that used to have a yacht in Monaco called `Powder Monkey` ?

Went skint and are now part of Cantors / BGC brokers ?

If so pretty much all their customers are Banks....so they are fucked too.

Fri, 06/28/2013 - 10:58 | 3703308 walküre
walküre's picture

Europe has brilliant politicians? Say no more.

Fri, 06/28/2013 - 11:00 | 3703316 Bearwagon
Bearwagon's picture

That should possibly mean that you could buy massive amounts of very big brilliants with the sort of money these suckers get for doing exactly jack shit!

Fri, 06/28/2013 - 11:02 | 3703317 Al Huxley
Al Huxley's picture

Anybody who owns or has owned mining stocks would KILL for that kind of performance.

Fri, 06/28/2013 - 11:07 | 3703323 fonzannoon
fonzannoon's picture

I am so fucking excited one of my silver miners is up 8% to around $3 (down from $9 where I own it).

Fri, 06/28/2013 - 11:27 | 3703396 Al Huxley
Al Huxley's picture

Same, one of my gold stocks is up 10% today (after falling 35% in the past week). 

Fri, 06/28/2013 - 20:21 | 3705161 garypaul
garypaul's picture

Just a guess: is it NG?

Fri, 06/28/2013 - 11:08 | 3703318 PersonalRespons...
PersonalResponsibility's picture

OT:  Etrade one day charts are having a really hard time tracking the moves in PM ETFs today; gaps everywhere.  Reminds of those horrible years trying to trade this rigged market before I knew it was rigged.  fuck'm.

Fri, 06/28/2013 - 11:07 | 3703322 LawsofPhysics
LawsofPhysics's picture

Blah, blah, blah...

paper promises and "mark to fantasy" everywhere...

In a "debt is money" banking system, sovereign and corporate debt must expand or the whole ponzi explodes.

Don't think beyond that and hedge accordingly.

Fri, 06/28/2013 - 11:09 | 3703325 Dr. Engali
Dr. Engali's picture

She is right the fed is trying to buy time. Time for the insiders to get out, time for the police state to gear up, and time for plan "B" a new world currency.

Fri, 06/28/2013 - 11:15 | 3703341 nmewn
nmewn's picture

Ultimately, I believe thats what they want...one world currency & government.

Then they can pass any ridiculous law and there is nowhere to run, nowhere to hide. Unless of course, they're looking for nmewn and not Ralph Lastanski ;-)

Fri, 06/28/2013 - 11:27 | 3703391 Dr. Engali
Dr. Engali's picture

LOL I knew a Ralph Lastanski once. Nice guy ..a real radical. He was tossed into a FEMA camp because he believed in a silly thing called the constitution.

Fri, 06/28/2013 - 11:27 | 3703397 disabledvet
disabledvet's picture

"Ben Bernanke has been fired." nuff said. move along. i'm surprised everyone here isn't celebrating actually...

Fri, 06/28/2013 - 20:32 | 3705185 Bananamerican
Bananamerican's picture

"Apres Ben, le Deluge"

Fri, 06/28/2013 - 11:12 | 3703334 NoDebt
NoDebt's picture

What if the "big boys" do a nightly sweeep into banks elsewhere (US, Canada, Australia, Saudi Arabia, whatever) and then return the money again in the morning? 

I'm telling you, the big players know this danger probably better than anyone here on ZH and they're not stupid.  They have had enough time since Cyprus to figure out their "protection strategy."  I just wonder what it is.

Fri, 06/28/2013 - 11:22 | 3703368 U4 eee aaa
U4 eee aaa's picture

putting a condom on their heads

just remember these are the same big boys that brought us to this precipice (when they could have managed things right and brought peace and safety to the world) and were shocked a few years back when people were smashing out the windows of their Mercedes.

Don't assume that because they are powerful, rich or even smart, that they have common sense and an understanding of what the crowd will do (since a lot of these theories are untested). A lot of these folks still think people will bow down to a bond when they are told they owe their lives and their families lives to pay it off. At some point these people are going to realize they are slips of paper. Just like Iceland did

Fri, 06/28/2013 - 11:13 | 3703335 fonzannoon
fonzannoon's picture

Look at the carnage from these collateral/margin calls.

The horror the horror.

Fri, 06/28/2013 - 11:28 | 3703401 disabledvet
disabledvet's picture

"God help me but i do love it so."

Do NOT follow this link or you will be banned from the site!