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Deutsche Bank Sums It Up "The Fragility Of This Artificially Manipulated Financial System Was Finally Exposed"
Today's dose of vile tinfoil hattery magick comes straight from the bank with the cool $55 trillion or so in derivatives, Deutsche Bank:
The fragility of this artificially manipulated financial system was exposed over the last couple of days of last week. It all ended with the S&P 500 falling -3.19% on Friday - its worst day since November 9th 2011.
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We've long felt that the only thing preventing another financial crisis has been extraordinary central bank liquidity and general interventions from the global authorities which we still expect to continue for a long while yet. So when policy changes, risks arise. The genesis of this recent sell-off has been the threat of the Fed raising rates next month, but China's confrontational move two weeks ago and the subsequent knock-on through EM have accelerated us towards something more serious. We always thought something would get in the way of the Fed raising rates in September and we're perhaps seeing this now. With 24 days to go until we find out, the probability of a hike has gone down to 34% from a 54% recent peak on August 9th. Having said we always thought something would come along to derail a Fed rate hike we probably should have gone underweight credit. However with trading liquidity poor and with a reasonably high desire to be long amongst investors there has to be a big move to justify the change in stance. Also with a strong possibility that the Fed will relent and that China could add more stimulus soon, there may be a small window to be short European credit. So at the moment this could be a dangerous time to sell. However if it wasn't for expected intervention and extraordinary central bank policy we would be very bearish as the global financial system remains an artificial construct reliant on the largesse of the authorities.
So 6 years after we first said what at the time was seen as heretical "tinfoil" conspiracy theory, now everyone admits it. Almost time to take a vacation maybe...
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Duh...
DB is completely right.
But, as I posted elsewhere, imagine how worse things would be if the Moroccan killer on that train had machine gunned everyone in the carriage, as the NWO planned. Thanks to the actions of one anonymous Frenchman, an American expatriate living in France and three former students at Freedom Christian School (particularly Spencer Stone), we would have a massacre on top of a crash. Manchurian Candidate Obama must be gnashing his teeth on how those guys foiled a well-crafted false flag attack using a Moslem self-styled jihadist.
Are they willing to say giving all their money to Greece was butt stupid?
I got to have that on my list.
"Almost time to take a vacation maybe..."
I just got back from mine.
I go away for one week- ONE FUCKING WEEK- and just look a the mess you've all made of this place. I'm ashamed of all of you.
Cheers to all us tin-foil hatters who have been right all along!
Yeah.. Fresh glue all around bar tender!
BTW: What I say??
http://www.zerohedge.com/news/2015-08-23/futures-stumble-out-gate-slide-...
But.. I think we get a bounce today
Of the dead kitty variety however.
Is Yellen hiding under her bed or laughing manically?
Is that a rising sun? Or a setting one?
bring down this bitch
I am a happy man today
The Fragility Of This Artificially Manipulated Financial System Was Finally Exposed
Because NOBODY who reads ZH could have possibly seen this coming...
[rolls eyes]
Who is still BTFD ?
They are missing a fall guy, which begs the question of greater fools.
The Powers-that-Be will do EVERYTHING they can to prevent a crash from happening. On top of everything else, consider one word: Pensions. What happens if the market tanks and all these guaranteed pension funds are suddenly insolvent? Not to mentional 401Ks. What a shitstorm that would be. Even the fuking Teachers Unions wouldn't be motivated to vote Democratic then. Lots of un happy people in Nov 2016 who will have to delay retirement--maybe indefinitely.
Obama will have to work triple overtile to get in more refugees & illegals to fill the voter void.
"What happens if the market tanks and all these guaranteed pension funds are suddenly insolvent?"
Don't you mean:
"What happens if the market tanks and the obvious insolvency of all these guaranteed pension funds is suddenly exposed to Joe 6-Pack?"
Two thing can happen:
1. Government renigs on the guarantees and the pensions go bust. Joe Six-pack gets 50 cents on the dollar--if he is lucky.
2. Government borrows (creates) more $$ it doesn't have to keep these pension funds afloat. Solves problem for one group, but pisses off everyone relying on a non-guaranteed 401K.
Either way, it will be a super shit storm. Which is why they will take extraordinary measures to prop up the markets again. Even if it means NIRP to get everyone to consume their seed corn now.
The Rats have left the building.
How are bonds doing today?
A much bigger market.
10yr. 1.952
30yr. 2.669
-SINKING FAST-
9:15 am est.
this is something w/which I've struggled - if equities are in a bubble & bonds are in a bubble where do you put your $? I got out of equities two wks ago (nailed that one!) but still have a fair bit in supposedly "super safe short duration hq" bonfs. is anything safe at this point? if not what's the least of evils? I've been buying physical ag but at this point you've got what you've got.
@jakesdad
Do not keep $ in bank!
Ignore the ZWO either/or false dichotomies: us/them, red/blue, stocks/bonds, etc. Truth is, we're fucked. 19th c. standard of living is coming - so BUY BITCOIN!!!
http://www.zerohedge.com/news/2015-08-21/impossible-co-bubbles-stocks-an...
Hey Douche bank. How are you feeling about those 75 trillion in derivatives you have right now?
So... any news out of Greece lately?
Doesn't seem all that important any more, does it?
I can't believe it. Who could have seen this coming??????
They had the chance to fix it years ago, but no, they had to can kick, lazy f@ckers
DOW futures - 812
SP -100
NASDAQ -200
It's a beautiful day.
The blind sheep who have been swallowing the mainstream narrative koolaid will be shocked...shocked I tell you!
Do bankers even do coke anymore? It seems that the feeling of standing on the edge of a cliff and knowing the step off is imminent would surpass a snort or toot.
"As God as my witness, I thought stock markets only went up." - Any sheep listening to the main stream media, stock market analysts, hedge fund managers or the FED.
Benn ZHnnnn since late 2009, what a Monday mornng this is. A toast to ZH, for what a wild wild trip it's been.....
CHEERS, to ZH.
Fuck off Deutsche, a 3% down day has you shitting your britches? You hightlight the evils of financial manipulation whilst at the same time practically begging for more Central Planning (TM) intervensionist, stick-save bullshit.
With a bit of luck, reality is coming to fuck you in the ass with a hedgehog.
Uh... you DO know that tin foil isn't really made out of tin anymore.
Question: Does aluminum foil still work to stop the government satellites from stealing our brainwaves?
it kinda makes me wonder if the shit going down in china is intentionally chucking rocks at this hornets nest.
"We've long felt that the only thing preventing another financial crisis has been extraordinary central bank liquidity and general interventions from the global authorities..."
One of the bunch who profited handsomely, aided and participated in the manipulation but did not raise a repeated public cry fails to admit that trying to constrain natural market forces makes the outcome worse. These international banking conglomerates need to be broken up into small regional banks with only genuine money taken in and lent out. Then the owners of the central banks held for treason in zoos.
Of course they're telling the truth, now. They're cashed out and plan to thoroughly enjoy watching the chaos. The lower resource stocks go, the richer they'll be when resources return to their fair value.
Continuing criminal enterprise fesses up? That is the laugh of the day!
Stooge bank attorneys called US "tinfoil hat theorists" regarding our assertions that the bank did not have standing in our foreclosure case. We won on both of our homes. Beat Bank of America and First Horizon Home Loans. Criminals can be defeated once you know that they are indeed CONTINUING CRIMINAL ENTERPRISES.
True accounting is dead and so we have the current stituation.
Lies die in the light of truth....sometimes.
I don't agree with James Comey when he condones torture against Banksters and other terrorists. He said waterboarding them is OK too!
Let the suicidal musical chairs begin!
Well, looks like the Austrian School of Economics is going mainstream. If we're lucky, we'll get out of this without war or mass starvation.
Goodbye Keynesianism--you won't be missed.
Blue skies
Smiling at me
Nothing but blue skies
Do I see
Bluebirds
Read more: Ella Fitzgerald - Blue Skies Lyrics | MetroLyricsSinging a song
Nothing but bluebirds
All day long