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Grexit Contagion Uncontained - European Peripheral Bond Risk Is Soaring
While talking heads have proclaimed any Grexit contagion will be contained... it appears they are wrong (surprise!). The last 2 days have seen sovereign bond spreads soar 25-35bps for Spain, Portugal and Italy. On the yield side, Spain 10Y spread to Bunds is at its highest since August 2014 and Portugal at its highest since Feb 2015.
EU Sovereign Bond risk is soaring...
The contagion has been rising...
And it's spreading...
Charts: Bloomberg
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So I should get in here. Got it. "Where else are you going to put your money?"
Time for another bailout rumor!!
TGIF, bitchez!
Rumor has it they're going to talk about talks.
Get in, if you want to buy from the Ponzi scheme at its height!
I know your being sarcastic most likely, but the delusional worshippers of the USD will want to do exactly that!!
Ponzi schemes by there very nature are extremely fragile, hence them being illegal, for all but our govt.! The EU is about to find out just how fragile, fragile is!
With the Greek people almost entirely in Euro cash and precious metals, and the rest of the EU sheep in the system, my bets with the Greeks at this point
Can the Greek banking system survive the next 12 hours to live another week?
?
Green for Yes, red for no.
Super slow motion train wreck.
I voted yes.
Odds are the Greek banking system has another billion or two of ELA. Unlikely that'll get tapped from ATMs tonight.
I can see ELA running out next week, and if the ECB cuts off the Greek bank then next weekend would be the weekend.
I think -- absent a "deal" -- we are talking about weeks now for Greece, but this weekend won't be it.
Anyone with money left in the Greek banking system at this point is stupid anyhow. So we'll see where the chips fall.
Two guys interviewing for over- the- road truck driving. Interviewer says- "You are coming down a steep hill- near the bottom, an old couple pull out onto the road in front of you. There is no way you can stop in time. What would you do?" The guy says- "I'd wake up LeRoy in the sleeper." "Why would you do that?" Guy says- " Cause LeRoy, he ain't never seen a bad accident before."
I'm starting to think the Greeks have reached their "zero moment" when even the fear of the unknown becomes less frightening then the moment they are living in, this is when humans are their most courageous!!
Thee old, "nothing to lose" or "All In" analogy!
The Greek people have been hovering out euros from the system like a coke addict snorts blow, for months now, the banks know they have to exist on some level, even if it's in a "new form" and the EU at this point has everything to lose and very little to gain, and with friends like Russia and China sniffing around, I think the Greeks are there!
Pull the plug friends and flush the EU fantasy down the toilet and be the first to emerge on top!
Will see
When an excellent quote;
"When the fear of the unknown becomes less frightening than the fear of the present is when the common man manifests what courage should be."
If I could upvote you more than once -- I would.
OT (but maybe not as these are clearly the End Times): This destroys anything by any illuminati "musician". Warning: This is Christian music that doesn't suck.http://christianvideotv.com/you-have-never-heard-nothing-but-the-blood-o...
http://www.nasdaq.com/symbol/nbg/real-timeAnd the eurusd is going up,up and away.
You over there must be doing worse than we over here.
All I know is that I've got the worst case of blue balls waiting for this shit show to blow up over the last few years.
We all do.
I imagine the immediate aftermath will be as boring as the foreplay. Expact the fireworks to start in the weeks thereafter.
Foreplay's hella fun. Who doesn't like getting head while reaching for a condom?
I keep my silver stacks inside condoms for extra protection against fiat collapse.
Greeks, you can check out anytime you like, but can never leave.
Investors, Remain Calm. Mind the GAAP.
He's dead, Jim.
Maybe we can pass the hat for Greece.
Same headlines next week, then the week after, and so on and so on.
Bank runs in Greece are increasing at a dramatic rate. This all though ongoing is still interesting. If you aren't interested don't write here.
Dont be a moron rookie.
Where's Draghi? This is what the printing presses are for. Print the future revenue now, go in astronomical debt, and everything will be moar awesome!
Don't make Janet do all the work, boys!
The Grexit story is the turd sandwich you keep on chewing on but cant swallow.
It never goes away.
There has been an ongoing Greek bank run for weeks now. If this doesn't interest you go away.
Funny to see how the ECB is funding it's own demise because the Greeks need the money from the ECB to give it to the IMF which then gives the money to the Ukraine to prop up the war.
The Red Shield War Machine is loving it!
The last time I checked, Greece was still obligated to help fund the IMF. So we have the Greeks taxing their citizens to fund the IMF, who then turn around and loan Greece the money at interest to prevent a default. When Greece can't pay its latest installment, they borrow from the IMF to pay the IMF.
Got that?
Europes in trouble and thats causing the dollar to drop in value against it? "It's Spreading" might be a bit of a stretch..
Wait for the meetings in 5 star hotels and dinning in 5 star restaurants to discuss how to resurrect Greece.
Yellen where you at?
Yellen doesn't get in her office until 4:30 today. She is out getting what she calls a face lifted. She'll print everything back into perspective once she gets in.