European Sovereign Risk Soars As Bank Contagion Spreads
The ECB's "whatever it takes" ponzi strategy of keeping the dream alive in Europe's financial system has finally been caught as rapid collapse in the banking system is contagiously spreading to peripheral sovereigns once again. Portugal risk spreads are up 120bps in the last 3 weeks and Spain and Italy are soaring over 35 and 50bps respectively as the almost self-dealing nature of banks buying "risk-free" EU bonds and repoing for cash via The ECB comes home to roost...
And now The ECB is cornered as any more NIRP will merely exacerbate the stress in the financial system and lead to a vicious circle in sovereign risk.
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When does Draghi purchase every issue from now until...well looking at japan, forever?
Tyler is getting lazy, he might as well have cut and pasted this from yesterday. DDSS, LOL
Get off Japan, guy on CNBC today said they are doing great
Uh oh, the "c" word has been uttered.
Collapse, Contagion or Cunt?
"Contagion" is the one I was thinking of, but yeah, come to think of it, there are a lot of "c" words in this business. "Contained" is another one.
ease the money!
https://www.youtube.com/watch?v=CbAbL3Dov7k
Draghi and the Central Banksters and Goldman have screwed the world for good. Let's see if they can control this explosion of bank risk.
How high will gold rise? How much will the Dow fall?
$119 Trillion Up In Smoke----The Busted Value Of The World's Proved Oil Reserves
http://davidstockmanscontracorner.com/119-trillion-up-in-smoke-the-buste...
All those banksters leaping off buildings. Huge demand for nail guns.
Interesting, using a nail gun while jumping. Just to be sure.
oops..slippery slope dead ahead
This is the global debt bomb, or as this author writes, "Central Banking Terrorism."
https://www.linkedin.com/pulse/global-credit-risk-john-m-cunningham?trk=...
So the Governments all write IOU's, and the banks all Hold IOU's
so their both Solvent Right ? /s Nobody in the Room is Broke Party On.
ECB & Draghi better fire up the Schmatter-wagon.
"Bring out your rags...We buy rags...Bring out your rags."
There is only one way for Draghi and his crew to deal with it: removing any quota on which country they can buy bonds from. Hopefully the blow up of DB should give some arguments to Greek tax payers who will refund Germany's quagmire.
Another good look at real money, real jobs and realtime tax withholdings.
http://davidstockmanscontracorner.com/the-spook-in-the-casino-recession-...
Recession. Without the ala-mode of bullshit.
That's OK. The top .05% are doing just fine. They've grabbed all the valuable tangible assets using the Keynesian borrow and steal method of wealth accumulation.