• Steve H. Hanke
    05/04/2016 - 08:00
    Authored by Steve H. Hanke of The Johns Hopkins University. Follow him on Twitter @Steve_Hanke. A few weeks ago, the Monetary Authority of Singapore (MAS) sprang a surprise. It announced that a...

Airbus Parent Warns French Banks Having Further Liquidity Issues

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Mon, 10/10/2011 - 15:58 | 1758820 SMG
SMG's picture

This can only mean one thing.........BULLISH!!!

PS. got burned on my shorts today, oh well maybe in a few weeks.

 

Mon, 10/10/2011 - 16:02 | 1758842 Michael
Michael's picture

I should have warned you. The stock market is so predictable. They took the bait hook, line, and sinker.

You know the saying, the bigger they are the harder they fall?

Pricing in reality is such a bummer.

Mon, 10/10/2011 - 16:49 | 1759023 doggings
doggings's picture

you warned us only yesterday, of a prediction made a few weeks back, that today was to be THE Black Monday to end all black Mondays did you not? 

might wanna rethink your psychic career amigo.

Mon, 10/10/2011 - 18:34 | 1759282 gmrpeabody
gmrpeabody's picture

And his make-up.

Tue, 10/11/2011 - 00:12 | 1760050 rocker
rocker's picture

We need William to stick a bugle up Bernanke's ass and blow them the money. That is what will happen.

Mon, 10/10/2011 - 16:04 | 1758852 Deadpool
Deadpool's picture

never short on a bank/bond market holiday. you fucked up...if you're being honest.

Mon, 10/10/2011 - 16:18 | 1758922 max2205
max2205's picture

ben will fix the dollar shortage...pronto

Mon, 10/10/2011 - 22:51 | 1759788 trav7777
trav7777's picture

what this underscores really is how stupid and unnecessary the ENTIRE banking system is.

Companies that have good business models have REAL cash to lend.  Banks do nothing but run ponzis to try to find parasitic vig for their donothing executives.  A worthless industry that creates no value.

A government lender like FNM and FRE didn't go bankrupt faster than major private banks, therefore there's no point in having any of this in the hands of confettiers.  Just do what Friedman said and have a computer print it.

The notion that anyone has to struggle to find a currency that is conjured from thin fucking air is absurd.

Tue, 10/11/2011 - 03:51 | 1760301 BorisTheBlade
BorisTheBlade's picture

A worthless industry that creates no value.

It does, in fact, extract value from the economy first through fees and interest, subsequently through sucking the bailouts - capital that could be allocated elsewhere to create some actual productivity. There is no whatsoever need for centralized money printing either, except for concentration of power.

Mon, 10/10/2011 - 21:53 | 1759673 tsx500
tsx500's picture

northbound til 1240-1260 , then all-in on SH

Mon, 10/10/2011 - 15:59 | 1758821 SheepDog-One
SheepDog-One's picture

Theres no problem here, we've just discovered a new miracle...the printing press! 

You just hit the button and the bank is FLUSH with plenty of cash and the stawks go up too! And its all FREE no one has to pay ever!

Mon, 10/10/2011 - 16:45 | 1759004 Tijuana Donkey Show
Tijuana Donkey Show's picture

The serfs pay.....

Mon, 10/10/2011 - 15:58 | 1758823 DrSpamm
DrSpamm's picture

where is EADS 12 billion?

Mon, 10/10/2011 - 16:34 | 1758969 Lord Welligton
Lord Welligton's picture

Damn good point.

French banks ?!?!?!

Who are waiting to get it back from an insolvent Greece.

Mon, 10/10/2011 - 16:44 | 1759002 Lord Welligton
Lord Welligton's picture

They don't of course have €12bn cash.

They have an entry on the balance sheet of a French bank.

Mon, 10/10/2011 - 15:59 | 1758828 vote_libertaria...
vote_libertarian_party's picture

Well that explains the spike up into the close...

 

More disaster = buy buy buy more

Mon, 10/10/2011 - 16:00 | 1758830 GeneMarchbanks
GeneMarchbanks's picture

Sarkozy just sharted on Merkel.

Mon, 10/10/2011 - 16:01 | 1758833 RobotTrader
RobotTrader's picture

Virtually every hedge fund that is in cash or who is heavily short is going to have to buy the market tomorrow morning.

Performance anxiety.

Mon, 10/10/2011 - 16:02 | 1758844 SheepDog-One
SheepDog-One's picture

Hedge funds are getting cornholed big time, theyll never break ever for the year. If they panic and buy futures overnite, theyll be crushed yet again tomorrow.

Mon, 10/10/2011 - 16:50 | 1759027 jdelano
jdelano's picture

come on robo--that's just plain stupid.  Any HF manager who has stuck with short positions thus far is not going to relinquish them at the top of the trading range.  If anything they will add.  Any weak shorts were blown out several hundred points ago....

Mon, 10/10/2011 - 18:43 | 1759297 Quantum Nucleonics
Quantum Nucleonics's picture

Or... credit markets will re-open tomorrow and slap some sense into the equity babies.

Tue, 10/11/2011 - 08:18 | 1760510 LongSoupLine
LongSoupLine's picture

textbook troll ramblings...way to keep your predictablity at a preschool/CNBS level robo.

Mon, 10/10/2011 - 16:02 | 1758846 Deadpool
Deadpool's picture

France having a seat at the save the capitalist banks table is a farce.

Mon, 10/10/2011 - 17:33 | 1759152 vocational tainee
vocational tainee's picture

fishes,leaving the pond?

Mon, 10/10/2011 - 16:03 | 1758848 papaswamp
papaswamp's picture

So instead they dump it into the ECB who then pumps liquidity into the banks? WTF?

Mon, 10/10/2011 - 16:06 | 1758862 Deadpool
Deadpool's picture

...who hand it over to the US Fed that bailed them out in '08. this is Euro tax payers repaying US Fed. eyes wide open.

Mon, 10/10/2011 - 19:50 | 1759445 zorba THE GREEK
zorba THE GREEK's picture

On that note, I am going to pump some liquidity into the bowl.

Mon, 10/10/2011 - 16:03 | 1758850 Dick Darlington
Dick Darlington's picture

Where is CHRISTIAN NOYER? We need NOYER to SAVE THE DAY!

Mon, 10/10/2011 - 16:05 | 1758860 SheepDog-One
SheepDog-One's picture

What gets me is they have no humility at all, just blatant daily robbery they dont care how obviously criminal it is to everyone now. Which means to me theyve priced in the permanent death of markets, and theyre now just used as a vehicle to steal. 300 point up days? Youve got to be kidding me! Oh well, they do not care about appearances at all.

Mon, 10/10/2011 - 16:08 | 1758870 Deadpool
Deadpool's picture

desperation in plain sight. Germany does not want to bail out the US Fed, but they have weak partners so they will. Just kicking and screaming as they buy time.

Mon, 10/10/2011 - 16:10 | 1758880 Dick Darlington
Dick Darlington's picture

And on top of all that shit, these almost daily last 30 min pimp jobs like today... It's like standing on an expensive wooden table and pissing on the faces of the people who are sitting on the other side of the table. At the same time politicians are talking abt "how the need to restore CONfidence" on the markets... Wow, just fookin wow...

Mon, 10/10/2011 - 16:07 | 1758866 CH1
CH1's picture

I thought Benny was providing all the dollars anyone wanted.

Does this mean he's holding out on Airbus? Do the banksters own Boeing?

Mon, 10/10/2011 - 16:08 | 1758869 SeverinSlade
SeverinSlade's picture

With the rate of money printing that is (and will have to) go on, how much longer until Bernanke announces the new $1,000 and $10,000 dollar bills?  Seriously, it takes a lot of Benjamins to make one trillion dollars.

Mon, 10/10/2011 - 16:12 | 1758891 s2man
s2man's picture

No need to print new money; You just revalue the existing currency.

Mon, 10/10/2011 - 16:25 | 1758937 SeverinSlade
SeverinSlade's picture

Was just making a point, but yes, no need to actually physically print money seeing as its so much easier to just create digital FRNs.

Mon, 10/10/2011 - 16:08 | 1758873 alien-IQ
alien-IQ's picture

so....I guess this assures a 50 handle move up in the /ES tomorrow?

or is a move up of that magnitude reserved for the day Greece actually defaults?

it's so hard to keep track of what's best for the ponzi.

Mon, 10/10/2011 - 16:11 | 1758883 dr.charlemagne
dr.charlemagne's picture

OK, so China is landing hard, insolvent Euro banks can't find any dollars, the Eurocrats have a secret plan, thus, the Euro is saved and rallies over 2% on the dollar, UDX tanks, and US stocks, gold and silver have a great day. What? I guess i am kinda putting it together but still lots of head scratching. Obviously today was all about relative currency valuations but can someone (other than that anti-libertarian dolt) put it in clear prose for me?

Mon, 10/10/2011 - 16:14 | 1758902 alien-IQ
alien-IQ's picture

my advice to you (and anybody else for that matter)would be:

1) don't search for logic for there is none

2) drink...heavily.

Mon, 10/10/2011 - 16:24 | 1758936 DoChenRollingBearing
DoChenRollingBearing's picture

3) Buy gold.

4) drink...heavily.

Mon, 10/10/2011 - 16:39 | 1758987 dr.charlemagne
dr.charlemagne's picture

buy gold............check

buy silver..........check

drink heavily.......check

don't try to sort it out logically..........ummm, wrong personality type

Tue, 10/11/2011 - 04:10 | 1760310 BorisTheBlade
BorisTheBlade's picture

When the building collapses, what kind of logic could be applicable in explaining movement of its parts relative to each other? They may go up and down ONLY relative to one another, they all go down relative to the ground. Any logical explanation of this would be a futile attempt to rationalize chaos.

Drink more, leave the building.

Mon, 10/10/2011 - 20:18 | 1759487 disabledvet
disabledvet's picture

"blurf."

Mon, 10/10/2011 - 16:11 | 1758887 SheepDog-One
SheepDog-One's picture

Just another 3% market day! All is well, nothing to see here, tomorrow will probably be 3% down, its all the new normal, youre more bankrupt by the day while bankers are 1 step closer to their 1,000 years of darkness, meanwhile degenerate gamblers think you can 'trade it'....good luck rubes.

Mon, 10/10/2011 - 16:21 | 1758929 Sequitur
Sequitur's picture

Bleh I don't think it can be traded. As I commented in another post, for us folks who like conservative investing (munis, utilities, dividends in solid companies) these fucking crooks make it impossible to earn an honest buck. HFT, frontrunners, insider trading, quintuple short ETFs so bank delta desk can skin the rubes -- just blow it up and get on with the housecleaning already.

Mon, 10/10/2011 - 16:28 | 1758948 DoChenRollingBearing
DoChenRollingBearing's picture

"...these fucking crooks make it impossible to earn an honest buck."

Yes.  Where can an honest investor go?  Buy bonds?  Please.  Stocks?  So much manipulation...  Real estate?  Ugh.

Cash, gold and lead.

Mon, 10/10/2011 - 16:55 | 1759048 jdelano
jdelano's picture

Guys--it is easily tradeable.  Just go full retard, don't think, try to use logic, or guage the merits of headlines and it works out great.  Trading range 1080-1220.  Initiate puts at 1180.  If you're early, add at 1220.  Wait for crash, hold out for minimum 20% gain if you don't have the nerve to ride all the way down.  Cash out a little richer.  When you see 1100, go long......  wash rinse repeat.   

Mon, 10/10/2011 - 18:42 | 1759294 gmrpeabody
gmrpeabody's picture

Well..., it works till it don't I guess.

Mon, 10/10/2011 - 16:13 | 1758888 RobotTrader
RobotTrader's picture

SPY closed above 21-day and 50-day EMA, and at the HOD near the top end of the trading range.

First time the market has displayed a positive technical sign since the market topped out this spring.

Mon, 10/10/2011 - 16:29 | 1758954 DoChenRollingBearing
DoChenRollingBearing's picture

We'll keep watching it RT.

Mon, 10/10/2011 - 16:46 | 1758998 SwingForce
SwingForce's picture

IYR kicking ass too: yields 4.23% despite all else

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Make a copy and rename it, a gift for anyone here at ZH.

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