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Grexit Contagion Uncontained: Peripheral Bond Risk Surges As Greek Banks Collapse
Despite weeks of reassurances and repetitions that Grexit is "contained" - it's not! Bond spreads for Portugal, Italy, and Spain are blowing out (now up 35-50bps in the last 2 days). While Draghi desperatly soaks up selling pressure, Spanish bond yields have surpassed US yields for the first time since October. But while bonds are turmoiling (Bunds/TSYS -5-7bps, everything else ugly), the real carnage is in Greece. Greek bank bonds are pushing to new record lows and the broad ASE is down over 13% from last week's exuberant surge when Greece was fixed again (based on a Reuters headline rumor).
Grexit contagion is spreading across Europe...
For context - this is the biggest 2-day rise in bond risk since May 2010!!
Greek Bank Bonds are collapsing...
and broad Greek stocks are crashing...
Remember that 7% surge day last week when everything was fixed?
Charts: Bloomberg
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Shouldn't the Bagel Medici over at Sachs own up to falsifying the Greek position (no pun) for EU entry?
One of the key characteristics of psychopaths is never admit responsibility for anything. Victims are always at fault.
Maybe this year those banksters will finally get the bonus they deserve.
http://www.tubechop.com/watch/6231765
*excited* to see Spain @650+ bps again.
Greece: The Achilles’ Heal That Will Bring Down The European Union
True, but I just enjoy calling them out at every opportunity. While it's still legal.
Technicals now telegraph the whole scheme of ECB & EU coercion and extortion being used against Greece.
European stocks slide as Greece talks collapse, banks tumble
@Latina
Best comment of the day so far. Spot on.
And you cannot cure psychopaths since they lack the proper emotional connections.
Correct. It's physiological, genetic, inheritable - and incurable. Lock 'em up or put 'em down. There is no other option.
http://psychcentral.com/news/2012/05/11/scans-show-psychopaths-have-brain-abnormalities/38540.html
The Eurozone was built to fail. Only by lashing the European nations together through the euro could the globalists bring them all down at once. Here is the full plan for Greece: http://redefininggod.com/2015/02/globalist-agenda-watch-2015-update-19a-...
bottom line there, preppers will make money on products they bought in advance now while they are cheap.
us dollar devalued, prices of things go up.
if israel goes to war with iran, availability of products will be an issue.
Best laid plans...
The law of unintended consequences
OT: God made everyone different. Sam Colt made them all equal. Then private equity came along and took them all into bankruptcy. Colt Defense files Chap 11:
http://www.cnbc.com/id/102758705
Sad.
Well the factory was burnt down during the civil war. Maybe they can rebuild again and compete with all the new co that have the market now. They only lasted this long on gov contracts. Had my 1851 navy coversion out Sunday , my fav pistol
What a link!
Thanks for that!!
Half the foil-hatters think Ron Paul is the Devil, half think he's a god.
Meanwhile, those of us who pay attention understand that socialist/collectivist ideals, all of which are founded upon Marxism, are anathema to the true human spirit, which years for freedom.
The vast masses of sheeple created by the Welfare State over the past 6+ decades notwithstanding.
Spoken like a true believer in "isms." You'll be happy to know that the New World Order will be built on the foundation of Austrian Economics and run by people like Ron Paul, Nigel Farage, and Marine Le Pen. Unfortunately, they work for the same people who funded Marxism, Communism, Nazism, etc.
Like it or not, here is more on the Rockefeller connection to Austrian economics
Bring on on already!
Greek debt is $65,000 per taxpayer and growing. Greeks are leaving the country in droves. No hope of ever paying back their debt. So Greece will default.
So will Portugal, Spain, Ireland, Italy and Spain.
US will merrily carry on for a while ignoring its $1,400,000 in debt and unfunded liabilities per taxpayer - and that's a low estimate.
“How did you go bankrupt?"Two ways. Gradually, then suddenly.”
Ernest Hemingway, The Sun Also Rises
The USSA will NEVER pay back the debt. Instead they will stick the rest of the world with the bill, after screwing its citizens.
Correct. In fact, the bankers/financiers will forgive all their CDS bullshit.
Once again, their debt will dissappear, yours will not.
"Inflated away." Still don't see how this works for the Government though.
Never have since 2008 actually.
How this war became a "media construct" is beyond me too. Those are real bullets and real attacks. If the folks we have "agressed against" weren't coming for us before they sure are now.
Odd but I feel like I'm done being a rage filled hate monger now too.
There's a point where this is no longer about what any of us think or express but simply "what the fuck are we going to do about it."
I know I don't have any answers anymore.
Ask yourself one question; How many times in the history of "the dollar" and then the "Federal Reserve Note" has the value of that paper been reset overnight?
That is how it "works out" for the government and financiers. Remember, the bankers/financiers are the government now (again).
It's that or a real "take their motherfucking heads" revolution.
take your pick.
bullshit - as long as Au remains below 1500 everything is under control
Long pita bread with no lamb.
Unfortunately my friend there will be in the end no lamb or pita bread. Just a long...... (censored).
China, Russia and India disagree with you.
Get your money out of the ATMs, max out your credit cards, go to the beach !.
Ignorance is bliss
war is peace
debt is wealth
They are all going to default and in the end they will be known as GIPSI nations:
Greece
Italy
Portugal
Spain
Ireland
..and American paper will... ...?
blah blah blah....
my prediction remains... ...greece is a big nothing burger. The bankers/finaciers will forgive all their CDS bullshit. All their debt will be gone, yours will not.
Assholes to the left of us, Scumbags to the right and here we're right in the middle again. Guess who's left hold the flaming pile of crap.
Greek banks collapsed in 2010, they were only kept open to launder money to the big corps and corrupted folks.
transitory
So's a nuclear explosion, which, incidentally, is actually first initiated by an implosion.
--and I can hear $trillions in interest rate derivatives and swaps collapsing in on themselves.
oh no! its all still falling apart again!
paging mr yellen....mr yellen...
you have some printing to do
fire up the printer and get your index finger ready to hit the BUY BUY BUY button
You may rest assured that all is well.
“State of economic emergency!” LMAO. When will they declare one in the U.S? The only reason we have not gone the way of Greece YET, is the massive money printing machines, but that party will end even uglier. They have kicked the can so many times, there is nothing left. There will be a disaster when fear takes over. Watch what happens when ninety-five million future stock market zillionaires panic at the same time. The wealthiest will get out first not wanting to lose the trillions of $$ Ben and Janet have handed them. Then the Chinese-driven real estate bubble, the largest in recorded history, will pop in the SFO Bay area. There is NO way new normal jobs at retailers and restaurants can support the 10 fold overpriced homes in that area. ONLY the massive expansion of debt has held off the final collapse. But the big tech companies which have supported the U.S. economy for 40 years have finally reached peak stupidity, e.g. the useless I-watch… It will happen and people who paid $2.5 million for a house that drops to $250k, will flee, and the banks will demand bailouts or collapse; there will be banking holidays. The government will try to intervene with more stimulus and Janet will declare emergency QE. But that day will come when the markets plunge anyway. The party will end so quickly no one will believe the speed and severity of the drops…huge margin calls will drive stocks lower…shorts have long be eliminated, so no support there…same every time.
And that about covers it.
Interesting. But shouldn't there be a sentence in there where Obama and Michelle are packing their bags, when they hear a knock at the door, and respond to find Vladimir Putin cheerfully offering a bail out?
Lucid and concise. +100
Greece is the 'Wimpy' of the EU. "I'll gladly pay you Tuesday...".
That tiny little item called DERIVATIVES.They can easily magnify a postiion exponentially.In other words you're talking huge sovereign leverage.No it's not under control,actually German Banks are out of control.
Deutchbank unter alles!!
Having spent some years establishing a completely self-sufficient farm on the most remote Island chain in the world, in what is already basically a barter society, I will certainly miss the Internet and toilet paper, but not much else.
We won't miss the federal government.