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Goldman: "ECB Will Have To Go Big"
Early last week we presented something rather shocking: a note by Goldman Sachs suggested that as a result of the ECB's QE failure to push the EUR lower and with bond yields having risen instead of falling since the launch of the ECB's QE in March, and perhaps due to a perplexing conflict between the ECB and the Bundesbank when it comes to debt monetization, a Greek default sparking contagion blowout risk, not to mention a "seven big figure" tumble in the EURUSD, may be just what the ECB needs.
On one hand, the Goldman assessment was not surprising: after all the bank's top trade for 2015 has been that the EUR will go much lower from current levels so in many ways it was self-serving. But, what's far more stunning is that Goldman, accurately, assessed the ECB's needs in light of what is increasingly seen by many as a QE program that is faltering just 4 months after its launch, and the direct implication was evident: for all the posturing and bluffing from Greece that it won't be blackmailed, it may have fallen precisely in a trap set by none other than the ECB.
The only hurdle was getting the Greeks to accept the blame for the failure of the negotiations which happened, at least in the perspective of the Eurozone, when Tsipras announced the referendum after midnight on Friday. Merkel herself admitted as much earlier:
- MERKEL SAYS GREECE UNILATERALLY ABANDONED SUCCESSFUL TALKS
In other words, when it comes to Europe, Greece lost the blame game, and just like the Ukraine civil war last year, became an unwitting catalyst greenlighting Germany's concession to ECB QE, this time it may be Greece that launches the next step in the ECB's master plan: not just QE but more QE.
This is precisely what Goldman's Franceso Garzarelli, co-head of macro and markets research, admitted earlier today in an interview on Bloomberg TV, when he said that the ECB "will have to go big" if the situation in Greece worsens and leads to wider peripheral bond yield spreads.
He added that a close call or "no" vote at referendum will cause spread widening which as a result of the complete lack of bond liquidity borne out of the ECB's intervention and soaking up of government bond collateral, "the market is not deep enough to accommodate a rotation in risk at this point in time."
How ironic: what Goldman is saying that the more the ECB intervene, the more it will have to intervene. Which, of course, is very convenient for all those who stand to benefit the most from more ECB - entities such as Goldman Sachs...
In terms of specific markets, Garzarelli said that the 10Y Italian yield at 3% would be a sign ECB may move. He added that the market is currently “frozen” with Italy-Germany spread trading in a range because the direct risk from Greece is low, i.e., "if you have Greek risk on at the moment it’s because you want it"; because there is hope of an agreement and because expectation the ECB will limit contagion. The clear circularity of the last argument is too obvious to even note it.
And perhaps just to emphasize Goldman's point, earlier today another (ex) Goldmanite, this time the one in charge of the Bank of England, Mark Carney, directly refuted Obama who said Greece is not a "major shock" to the US economy, admiting this morning that "the outlook for financial stability in the U.K. has deteriorated in recent days as the crisis in Greece intensifies, underscoring how the Mediterranean nation’s debt troubles are reverberating outside the eurozone."
As the WSJ reported, when "presenting the BOE’s twice-yearly Financial Stability Report, the central bank’s governor Mark Carney said the risks associated with Greece and its failure so far to reach a deal with its international creditors have grown acute, and threaten to trigger a selloff in financial markets that could ripple through to the wider global economy."
Mr. Carney told reporters that although U.K. banks’ direct exposure to Greece through loans and deposits is minimal, that doesn’t mean the British economy would necessarily be immune to the fallout should Greece exit the eurozone.
“The situation remains fluid, and it is possible that a deepening of the Greek crisis could prompt a broader reassessment of risk in financial markets,” Mr. Carney said. That could ultimately hurt the confidence of businesses and households in Britain, he said.
The BOE has been working with the U.K. Treasury and authorities across Europe to draw up contingency plans to shield the U.K. economy from harm, Mr. Carney said, although he declined to elaborate. He did say regulators have in stepped up their scrutiny and engagement with the U.K. branches of some Greek lenders.
On Wednesday, U.K. Treasury chief George Osborne said Britain is hoping for the best but “preparing for the worst.”
“We stand ready to do whatever is necessary to protect our economic security at this uncertain time.”
Conveniently, if only for all those 0.01% of the economy who benefit directly from QE, so does the ECB: it is, in fact, ready (and would be delighted) to "go big"...
.... in case Greece votes "Oxi" on Sunday which would mean that, for the second time in the 21st century, Goldman wins and Greece loses.
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This time in full, no *.
FUCK Goldman and of course Sachs to.
Fucking parasites.
so bullish!!!
Translation: The bubble the ECB has blown into sovereign debt in the past 3 years isn't big enough, even though its the largest sovereign debt bubble in European History goign back 200 years. Thus, they'll print more to blow it bigger. I hope the Swiss & the Danes can keep up.
It will be a miracle if the EZ survives past this stage, in its present form.
Full fucking desperation driven insanity in 3.....2......1...
A couple zero hedge stories clarify how things are going to go in the future. This one indicates that the central banks, the ECB in this case, will print money. No surprise there. But the previous story indicates that debt will also be forgiven. This likely means that the debt that will be forgiven will be that held by the entity that can most easily deal with writing off the debt considering they aren’t depending on it, the central bank. If a debt jubilee took place by entities that bought the bonds with money already in the system it is deflationary. If it’s done by the central bank when the debt is bought with newly printed money it is highly inflationary. There is a debate going on between those that realize our system is nearing a reset as to if the crisis will be deflationary (Harry Dent) or inflationary (pretty much everyone else). They are leaving the breadcrumbs as to how the crisis will unfold if you are paying attention.
Hah...since the PENIS mightier than the S WORD, perhaps the ecb needs a BOOSTER PUMP?
An inflationary device?
Any guesses what the S word is? ;-)
Hiserstory...
https://aadivaahan.wordpress.com/2015/07/01/where-to-ok-actually-how-did...
...Pick one... Juncker, Draghi or Lagarde will become the Archduke Ferdinand False Flag event to W W # 3.
Blame Greece.
China with its $15 trillion in shadow banking lending over the past 5 years is in collapse. Nothing to do with Greece.
US appears to have entered a severe slowdown starting in Nov 2014.
The BoE has been at the center of a global debt bubble blowing effort by rigging rates and gold and now they warn us about Greece as the BUBBLE collapses.
Global Economic And Financial System On The Verge Of Total Collapse
The logic of central banks...you owe us and if you don't pay fuck you and we'll just print more money to save our asses. Yup, that's a fair system....if you're a criminal.
Terence McKenna on “The Managers of Society” From a lecture called “Appreciating the Imagination”
(Magic mushrooms permissible, not compulsory)
But the truth is they don’t give a shit, they are so confident of their control that I think if I appear on their screen at all they just said “This is some egg-head, some spouting character that talks to a bunch of rich people in small rooms, and we don’t care.” I have a feeling there’s something which I call the 5 percent rule, which is, as long as any school of dissent remains below 5 percent of the population, no money is budgeted to destroy it. They have learned about noise in the social circuitry and they just say “Yeah, these people, they gripe” And we are held up as an example of what a free society this is. They say, “You think we have a controlled society? You think we care what people say?Go down to Essalen and hear what Terence McKenna is saying. We tolerate this! What clearer proof that you need that we are magnanimous, generous, open-hearted and liberal. We tolerate this kind of thing.”
I think of course that they do not understand the nature of the game, but it’s a good thing because if the game is played on their terms, we lose. What they don’t understand is the power of memes, and the fact that psychedelics are a touch-stone of creativity, and creativity can always provide break-outs from any situation no matter how confined. And also, they have a horrifying fascination with us, because they as the managers of society, probably know more about it’s internal contradictions and its failings and its shortcomings than we do. The information we have available is the declassified, downloaded, cleaned-up stuff.
Recently, I was in London and at the hotel the conference was down at the ICA, which is down near Buckingham Palace so the hotel was on Vincent’s Square. So it was about a 20 minute walk from Vincent’s square to the ICA and it was right through Whitehall-- it was where all the intelligence agencies, and the ministries of defense and all this are. We stayed late at the ICA, and walking back at 2 in the morning, the lights in the Whitehall are burning-- at 2 in the morning! The lights at the ministry of defense and the ministry of economic planning are on at 2 in the morning, why? Because people are sweating blood in those buildings, they are working around the clock to keep the entire system [from shattering into a million pieces]…
They say, “Look at these rainforest clearing statistics, look at these oil slicks! This is costing us money gentlemen.” And what about this?And the answer is that you can manage some of the future some of the time, and you can manage all of the future some of the time, but you can’t manage all of the future all of the time. It keeps breaking loose in the most unexpected fashion.
The internet is a perfect example. Here was a privileged instrument of the intelligence community and the scientific elite that served it. Ultra-high security, totally out of the reach of the common man. Meanwhile, over at Raytheon they’re trying to-- this was years ago-- they were trying to develop a chip to guide a heat-seeking missile for the Navy, and they had certain design specifications that had to be met. The project ground on for a couple of years and they couldn’t make this chip meet the specifications, finally the project was canceled. The chip is thrown in the trash. Then some engineer digs it out and he says, “You know what we could do with this? We can’t hit a plane in flight with a missile with this thing, but you know what we can do with it? We can make a little desktop computer with this!” And these guys [colleagues] said “Why in the hell would we want to do that? We have enormous computers, we have computers the size of a city block, why would we want to do that?” And he said “No, no, not for us, we have the God-like technology, it’s a commercial thing! We can sell it to the Marks, and they can word-process with it or something!” and so it came to be. And they didn’t understand with this thing-- it’s a pretty harmless thing, a computer sitting on a desktop with word running on it-- but you sell 20 million of them, before you realize, “My god they can all be connected together!” And then people just plug them in, and an entirely new beast springs into being. A technology so powerful that the head of the CIA 10 years ago didn’t have that kind of access to information, that kind of information to real-time imaging, that kind of access to econometric data and that sort of thing. So it escaped, while they were watching various…while they were keeping us from nuclear weapons, they seemed to do that rather well. No terrorist has ever set off a thermonuclear device so far as we know, so they were watching from the ramparts for that because it was something they could understand.
This thing came rushing in the back door and now the cat is out of the bag.
…the ECB's QE failure to push the EUR lower….
I’m confused again.
If the Swiss would stop propping up the Euro then it might find its legs around $.80USD.
Greece ain't going nowhere. And Tsipras will soon be handing in his resignation. He really painted himself into a corner on this issue.
Bank of England: on behalf of... well, everyone... GO FUCK YOURSELF!
Bank of England has the biggest pedophelia collection on the planet.
Nationalize the Rothschilds!
Pick one... Juncker, Draghi or Lagarde will become the Archduke Ferdinand False Flag event to W W # 3.
stop copy past your fucking bullshit overs pages of ZH without even reading the posts you mother fucker.
if you wanna kill people grab pen and sign into the army and go fuck yourself out of the way.
I am a Lone Wolf...
Do Gas Meters have protection? Look at what Thermite does to a car.
https://youtu.be/rdCsbZf1_Ng?t=1m37s
What do you think that it will do to a building when a Flower Pot filled with Thermite is set on top of a pressurized Natural Gas Meter?
Nothing, Tom...nothing.
It's those voices in your head again.
Don't listen to them.
@ ORI
ROFL!
Gussy it up however you want Trebek, what matters is...does it work?
http://www.veoh.com/watch/v6464270F2MRMcC4?h1=Celebrity+Jeopardy%3A+The+...
With 7+ billion people (and growing) all competing for the energy and resources required to maintain a decent standard of living, you know the answer to that question.
then do your bit to stop poplation control-kill yourself
And how does LoP killing himself stop population control?
You cannot put together a cogent thought and express it?
Furthermpre telling someone else to kill one's self is against the law in all 50 States of the Union.
If one acts on your suggestion then YOU GO TO JAIL.
Furthermore you may be held liable for Civil Damages.
Even Judas Priest was sued because their music promoted suicide.
Wishing another dead because they were audacious and actually exercised free speech is actually quite Fascist of you.
There can be no debt forgiveness so long as the banksters control the politicians-administrators-beaurecrats who control the tax collecting thugs. That is what is going on in Greece - some politicians who are not controlled by banksters taking a stand.
Let's hope that more politicians grow a spine rather than continue to line their own pockets.
I keep envisioning spinning plates on upright sticks and a very, very tired old man with bad shoes...
Why not both? Deflation as trade comes to stop and purchasing power increases per unit currency. Then inflation as CB's over print for eachones government. Then currency destruction and a new fiat arrises from the ashes.
If the Germans were smart, they would leave first.
But the low Euro seems too appealing. For now.
@Brazen Heist
It's not time........................they are waiting for the silk road
They will look east to Russia and China
When it's time
The Germans are playing it quietly like Russia and China, from what I sense. They bypassed Poland and the Baltic states for a good reason, to get their gas from Russia via Nord Stream under the North Sea. They know too well those countries are loose canons in the grand chess game.
Countries that America panders to, much too easily.
I hope Eurasia integrates closer and defies foreign divide and conquer attempts...then links up to Germany, that would be a great feat of engineering and politics.
@BH
Concur
I must admit if I was Germany I would keep one eye on the exit door.
out of the debt ashes will rise the nation with the most natural resouces and the most modern arms. hmmm, wonder which nation that will be. china is a tool in the toolbox right now. they are fucking themselves and their comand econ is spinning to debt defaults, inside corruption, and overcapacity 2-3x. russia is where my marker is placed, mainly because the russians i know are tough mutherfuckers. we in merica unicorn hope and change smelting pot of a thousand cultures are ready to breakdown like a 50 year old bailing wired, duct taped piece of shit run by sociopaths hell bent on taking it all.
My 48 F-1 runs, that's all that counts, and I'm not a sociopath...just a crank.
We're down to the final scene... https://www.youtube.com/watch?feature=player_detailpage&v=qakWAS8ixtU
U.K. Treasury chief George Osborne said Britain is hoping for the best but “preparing for the worst.”
“We stand ready to do whatever is necessary to protect our economic security at this uncertain time.”
Then...how about this Captain Dowhatever. Why don't you offer Greece the Pound as a transitional currency during the Grexit.
BECAUSE. THEYRE MONEY PRINTING MANIACS TOO!!!
BWHAHAHAHAHAHAHA
Too funny...
AS IN FUNNY MONEY!
Market is up...again...on bad news! Defaults must be bullish.
In Orwell, things often take on their opposite meaning. So bad economic news is good economic news or at least good for markets. Nations taking on more debt than they can service is good for markets. It must follow then that we should all take on more debt than we can service. Markets and other economic measures will soar!
defaulting to the dollar is just fine by me.
We produce cotton, tobacco, linen, wheat, sorghum, corn, sugar beats, oil, natural gas, etc...all in STUPENDOUS quantities.
If the Government itself can't afford to pay the bills that's the Government's problem.
Not like there is a problem with the tax base...
Eggs seem to in short supply.
I might have to start trapping pigeons.
In the fiat world if the 350B goes poof
THAT'S 350B x 10 = 3500 B that has to go poof
Be careful what you wish for...
(Note: The Protocols is a blatant plagiarism, so "goyim" could easily be replaced by "common man".)
GEE you think the Bank of England might have a little
DERIVATIVE EXPOSURE they are worried about???
Fucking Banksters
BUT LOOK AT THEIR MASSIVE PRODUCTIVE CAPACITY!
It's a WIN WIN FOLKS WHEN EVERYONE IS PRINTING!
MONEY FOR EVERYONE!
FREE MONEY, HOORAY!!!
Goldman just props up the drug dealers and takes its cut: it won't be in the room when you shoot up and die of an overdose. So Goldman is "innocent".
Yes that's the answer
Go Big
Print more money more debt.............................Fucking Morons
Fuck the tax payers...........................again and again and again
it will keep working until......................................it won't
Go Big like Goldman does.
Like helping to conceal the true magnitude of the Greek debt.
Is GS jumping the shark again? King dollar!?!?
We are living in a damn Monty Python sketch now...
We are living in the damn Matrix...................and it ain't funny like Monty Python sketches.
Yes, this one, specifically:
https://www.youtube.com/watch?v=YUhb0XII93I
ECB will have to go big, China is going big to levitate its stock markets and yet the Fed talks about raising rates - someone is lying to protect the value of their currency
Bernanke: "No Rate Normalization During My Lifetime"http://www.zerohedge.com/news/2014-05-17/bernanke-shocker-no-rate-normal...
The printing has just begun China, England, Europe, Japan and somehow the FED will raise rates, please. 30 trillion in new QE before 2020.
There will be no rate increase in my lifetime, imo. In fact, I suspect there will be many more [highly selective] bailouts to the upper 1%, bankers, MIC and other special interests.
And the Breaking news is, YOU are not a special interest to them. So buy moar KY and grab your ankles.
His name was nodebt.
I remember the name. Did he say something that offended someone?
No idea. He just went to login and he had no account. No email, no explanation, nothing. Just deactivated and he has no idea why.
viva la nodebt
Just make a new profile then and re-join fight club :)
And I was starting to get the biggest crush on that guy.
So was I.
Just make sure u direct all negative comments at White, Christian, Hetero Sexual Males and u will have no issues.
Figures. One of the few that I followed and thought made sense of it all.
i was deactivated twice here on ZH.
Please keep all your negative comments directed at white, Christian, hetero males and you will have no problem remaining on ZH
Oh well, I imagine we will all get shit canned here at some point. Either that or ZH will be taken down by the fascist Thought Police running the US.gov.
We've had a good run here....so enjoy it while it lasts.
See if he can request a password reset Doc, his account is still there. He doesn't fit the ban profile.
http://www.zerohedge.com/users/nodebt
Logged in just to say nodebt was one of my favs. Back to lurking
Tell him to check/ reset his password. I got logged out a couple of weeks ago and couldn't log back in because I was putting in the wrong pass.
Seriously WTF
OK Dude appears to still be active
http://www.zerohedge.com/users/nodebt
Anyone want to chime in on this short story?
They put him down like Old Yeller...
His name was nodebt, hmmm..hmmm...hmmm.
Hey Doc. I just checked, and his account is still listed as active. Maybe he's got some "super duper" add blockers or something that's preventing him from logging in. If you go to account then search, his account still comes up.
I hope the MIB didn't ship him to Gitmo.
http://www.dailymail.co.uk/sciencetech/article-3145887/Google-apologises...
Bankers will always win. Kneel down and kiss the ring Tsipras, you little bitch.
"The more you tighten your grip, ECB, the more countries will slip through your fingers."
-Princess Tsipras
Maybe Soros is the guy who put Tspiras in to begin with. I can only imagine that guys short positions today if so...
Soros could single-handedly pay the tab for Greece; he and Buffet are just waiting for it to get cheap enough.
Truly amazing to witness the extent these hacks are going through to save the current bull shit that we see everyday. The more they try and save it the more it gets exposed for what it is...fraud.
I think the Eu is going to make an example with Greece..and make it hurt bigtime..to show the other Pigs that they cannot do the same thing....and they will print trillions more to keep it together.....debt is going to be buying more debt..the circle jerk begins....until one day..it just falls apart....and by that time...the Eu folks imight run to the new Greek fiat for a safe haven....now that will be funny..huh?????
Funny like the wheels falling off a car, AAUHH NUTS.
Go big or go home, maniacal monetizers!
Monetize This!
I thought it was against EU rules to monetize debts of member nations. Scratch that, ECB fiefdoms are probably allowed.
Who actually follows the rules anymore? I barely count a handful of countries that are currently fulfilling the Growth and Stability Pact. Mario DraghQueen is openly manipulating forex markets to save face. Its a mad, mad world.
Hey ZeroHedge, Can you bring Goldman Sachs down? Do you have in you for what it will take? All you have to tell is why?
http://just-a-thought-from-thinair.blogspot.com/
Zerohedge, by you own admission Goldman Sach and the likes, the vampire squid is creating situations that is prevalant around the world today. First they help people, oligarchs and others make a mistake and then they turn around and they tell how to fix those miskaes their way ....
The you open the Juke box and play the same songs all over again... Are you not bored by now? What is yours reponsibility?
A person asked me mine? lost track of that person .... It is to that person: I asked the question about responsibility to ZH ... why did you turn around and ask the same question to me? I am already on it, you are just unaware.
I will have to fight with or without you.... that is my responsibility...
ZH, you will then be the first to write praise or eulogy, that choice will always be yours. I thought you were a worthy opponent.
http://just-a-thought-from-thinair.blogspot.com/
ZH, the original link to this story was : http://www.zerohedge.com/news/2015-07-01/goldman-ecb-will-have-go-big
why did you change the headline?? Did Goldman ask you to do that? Are you doing their bidding by any chance? By your own admission, people at Goldman reads this. Ask them to read my blog and be ready when I can launch my intellectual assault.
The battle has begun ZH ... What is your responsibility? Just want to know which side you are ..... If you want to point me to your disclaimers ... then the time is now.
http://just-a-thought-from-thinair.blogspot.com/
Nobody wants to read your crappy blog.
You write worse than my dog.
Go away.
thank you my friend ... at least you are honest.
oen more thing about your honesty... the credit goes to your dog - good company helps. But, you do not understand his bark - you think he is throwing abuse at you.
shovelhead wrote to me:
Try writing a blog in your native language. Your English isn't up to the task.
Not that you would make anymore sense in your own language, but theres a chance you might sound a bit less loony.
Glad to help. Good luck.
Here is my reply:
Do not underestimate people's ability to understand broken english. I never fix my grammar and that is by intention. I won't spoil your fun by telling that intention. But, thanks for giving me another honest reply. I will try to improve becasue there is a tenth person waiting ... If I can't even stop your barking what else will I ever be able to do. I can take all your abuses... but do not try doing that to another person ... because if that person cries for help, I will have to answer. I will teach you a lesson in English. I am not worried about your abuses.... I have to endure it all.
I am now more worried about your dog. Does your dog knonw your real identity? so do you go by shovelhead. Do you humiliate him all the time by telling how exactly how smarter you are than him... in your broken english?
Shovelhead, I will go away from here at the time of my chosing or when I am thrown away. Till that time you mind your manners. My only attack goes to ZH ... not to anyone else. Do not try to fight on their behalf. People from all over the world come to peek inside my cell... for whatever reasons ... but many chose to not to hurt me.
2 weeks...
to pimp ur blog
piss off
so another one joins shovelhead. two against one. Now I see how Zerohedge sends its agents to fight me. Bring it on. Who is next? Better try your best... in some kind of english that civilized people can understand.
Nothing more despised here than promoting your blog and hoping to battle comment with others. It's clear that this is your goal so I would say accept it and prepare for abrasion.
Are you the owner of the blog?
So, here comes the third agent of zero agent. Now, it is three against one. DO you know that in some ways you have already won. Your score is 3 to 1.
I'm just stating a fact. I'm a father in Ohio that owns a honda.
Sorry to have offended you for not knowing that you are a father. But, before you got convinced about the fact, did you for once even consider that I have children too... they are very young ... I can't fight with you anymore ... but will you protect my children if someone on this blog begin to use abusive language against them?
I understand about the trust part ... it is a rare gift these days.. you do not have to trust me... trust in the power of capitalism. we have almost lost it now.
The only thing worse than an appeal to authority is an appeal to victimhood.
Hope you're teaching your children better than that*
*And seriously that is the weakest troll chum shat I have seen in a long time...what...was that...like a lost bet or somethin'? Up-grade to a better cubicle if they bite?
Help IridumRebel,
You first disarmed me by claiming a father. and now you have thrown my whole family to these wolves. Will you protect my from this kind of personal attack?
Unless IridiumRebel comes to my rescue, it is still 3-1
Is that how ZeroHedge plans to counterattack? Is that your standard? It is happening on your turf ZeroHedge!
Hey 2 weeks 2 days
This is Fight Club
Man up or Fuck Off*
*But seriously MDB this new profile is mucho entertaining
I am giving IridiumRebel a chance to fix his mistake. I will wait for him as long as I can endure. I am not a fan of fighting faceless people anyways. So, go ask ZeroHedge to send their best. Go Man Up!
Iridium, it appears nailed you from the get-go.
If you came to this website looking for sympathy you came to the wrong place.
Fight Club is not an individual but an ethos...hence you fail hiding behind the response you seek for which you are not worthy.
Go away.
He did not nail me. He is not back yet. A father does not nail someone for this kind of misdemeanor, which are not for the readers anyways. Are you the owner of the blog? If yes, then can zerohedge confirm that, and I will go. I only came to fight zerohedge. If you are not zerohedge then what right do you have to go after me?
Anyone else who wants to be an agent of zerohedge? why? one sound-civilized principle...
If you are writing under instruction from zerohedge for this chain then I will not write to you. You have already won. 4-1 or 5-1 ... you go away...
You guys (4 against one) will lose your shirt... I do not want to humiliate you. That is not what I do.
So, let me finish this with the four of you... I am not interested in your comments. Please do not try to show your worth like this... If you have to fight, I will come on your turf if I think you are worthy.
One more ought to do the trick....
Goldman....a continuing criminal enterprise that happens to offer financial "products".
Trust Goldman to do what is good for them, period. At least we know who the enemy is.
I get the feeling that the euro will come toward parity with the dollar and at that point we'll see a new world order currency exchange come in to view. Maybe it will be a cashless system at that point I'm not sure. The exchange will be an easier force on you when it's at one to one and I don't think there is any doubt that at some point the dollar and the euro will become one currency.
We know that is one of their goals, supposedly.
Good catch.
$=AUS=EUR @ 1.5 gpb and 120yen and 2chf...makes the math easy for the SDR, and yes it'll be digital so you can never actually store it...missing akey attibute of money: 'store of value'.
oil as most importatn commodity will still be dominated by $, and enforced by US military and war on terror....simple ideas obfuscated by media and pundits who refuse to see the obvious....but the more they squeeze the more will slip between the fingers until the whole world is a black market.
$5 trillion. That big enough? Oughta be good for another 1,000 points.
"How ironic: what Goldman is saying that the more the ECB intervene, the more it will have to intervene. Which, of course, is very convenient for all those who stand to benefit the most from more ECB - entities such as Goldman Sachs..."
And the worse it will get for everyone else. Math never changes. 1+1 ALWAYS = 2.
.
Who knows the truth, I certainly wouldn't be believing anything that was said be either side in this game.
It sounds to me that "successful" is a misapplied adjective.
"The ECB will have to go big"....they've already gone BIG, that's the problem.
There is only one Central Bank. The only question is who will run it. Can the families all get along or will the financial mafia start whacking each other off like they did with Lehman and Bear Stearns.
Hilarious to watch crooks and mentally challenged paper pushers try to claw their way out of this quicksand.
Goodbye you arrogant fucks.
Nobody..really nobody could have seen this coming.
Not
THANK YOU!! Captain obvious.
Long money market funds
'Til they close theit gates.
'Til they close their gates.
Percentage of Americans who actually have any clue that there is a meltdown in Greece is?
Pool parties and all other suburban blatherings continue...not a care in the world
What would it change?
Nothing.
BOE warns? That's fucking rich. Sheitttttt
ZH, the original link to this story was : http://www.zerohedge.com/news/2015-07-01/goldman-ecb-will-have-go-big
why did you change the headline?? Did Goldman ask you to do that? Are you doing their bidding by any chance?
http://just-a-thought-from-thinair.blogspot.com/
When you are going down you want to take as many as possible with you.
Bank Of England Warns Greece "Threatens To Trigger Market Selloff That Could Ripple Through The Global Economy"
Greece doesn't threaten to trigger any such thing. A 220+ TRILLION GLOBAL DEBT BUBBLE, does.
It isn't confined to subprime.
Ahh, but Greece is so CONVENIENT.
“We stand ready to do whatever is necessary to protect our economic security at this uncertain time.”
Too late. Math is an absolute.
"We will be re-writing the rules of math: 2+2=100."
This whole Eurozone thing was the idea of a bunch of WWII, primitive, (before today's tech) sociopathic, megolomaniac, bum-fucker's way of conquering the world. Enough already. It is time for you guys to kick the bucket and let the world move on. The kids have a better idea and it starts with arresting you and redistributing your stolen wealth to fund a democratic open source financial system and gradual replacement of governments with open source software. Die bastards die.
Market sell-offs are not triggered by events. Endogenous social mood sets the tone and the pace of economic rise or decline. As the markets coincidently collapse, the media and the pundits feel the need to look for excuses why it is happening. Greece is as good an excuse as they can find, but with an economy the size of Rhode Island, it's not a very good one. With or without a Grexit, the markets are being sucked into the global deflationary vortex, and its waning social mood that is doing it.
http://www.globaldeflationnews.com/introduction-to-socionomics-the-wave-...
I wonder what the algos think of all of this?
You don't feel "endogenous social mood" is shaped by events?
Hedge fund dumping could give it a big push.
“We stand ready to do whatever is necessary to protect our economic security at this uncertain time.”
So, what did they say just before WWI and WWII?
Just wanted to check in and make sure my account still worked .......... 4 years and 6 weeks IM kinda of OG here. I should have signed up when I first stated Reading ZH.
If a small country like Greece breaks your shit, you are doing it wrong, idiots.
"Bank Of England Warns Greece "Threatens To Trigger Market Selloff That Could Ripple Through The Global Economy"
Translation for the greeks - "Hey you makka the housa cards ah falla down"
If risk were direct and counterparties clear, there would be relatively little fallout from failure.
Hiding risk is a fool's game - and a tool of con men.
Regardless of composition of failure, remedy is always the same. Pick up the pieces, eliminate the bad parts and "keep on trucking".
Recognizing what doesn't work is a key step to getting to what does work.
In a rational world and free market not everyone is tied to a particular failure like, Greece. Through the miracle of central banks and credit default swaps virtually everyone is tied to every failure everywhere.
"If a small country like Greece breaks your shit, you are doing it wrong, idiots." I was going to add a comment but I can't come up with anything that could top that quote from bnbdnb...
1 trillion Up arrows for that quote!!!
Hyper rubbish , plenty of these on zerohedge and most have the name 'goldman' in them
There is a real solution to this problem... the ECB could just print $200 billion euros... secretly ship it to Greece.. and have them pay off the debt loan..... I think they call this "hush money"... done all over the world and seems to work...
And they'd do that except they know Italy, Spain, Portugal and several other debt-addicts would demand the same. Of course, that could still happen anyway.
I think we should print enough money so that no one in the world ever has to work again.
Instill fear. This is a good way to wring out whatever non-government-held market liquidity is left in order to buy it up with freshly-digitized QE clownbux.
Our funds are managed… and regulated. No sweat.
Shows how fucked up this bizarro world has become when a deadbeat going BK triggers a world financial crisis.
If the market is that leveraged and intertwined with Greek shit, then let it blow up, Greece will never be fixed and not by anyone Greek.
From past history, I expect the BOE to hide massive misconduct in a financial crisis.
One more round of chemo… and then….
Why is a debt default not a debt default triggering CDSs and a global meltdown? The psychopathic liars just change the wording so that Greece is in "arrears".
http://www.bullionbullscanada.com/index.php/bulletin-boards/17-talk-econ...
According to SCOTUS, words don't mean shit anymore.
I hate acronyms representing despicable entities. How about we place an "R" after the C?