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And Here Is Today's Market Moving Soundbite Du Jour
Update 2: In her own words - dispelling rumors of new instruments: "In view of the current difficulties, it’s important to emphasize that we have created the instruments of support in the euro zone, that Germany is ready to work with these instruments whenever that is necessary and that this is an expression of our firm desire to keep the euro area stable,”
Update: here is the counterrumor, just as expected courtesy of the summer and fall of 2011: Merkel willing to back use of EXISTING Euro-area instruments... Where Euro-Bonds just happen not to figure.
Just out from Bloomberg:
- MERKEL SAYS GERMANY READY TO BACK USE OF EURO-AREA INSTRUMENTS
Ignore that it is unclear what instrument is mentioned (not Euro Bonds as Merkel made very clear 48 hours ago), she probably just is referring to the Redemption Pact, which she would of course be in favor of, as noted before, and where Europe funds its loan-loss exposure with gold. We look forward to the PIIGS agreeing to hand over their gold to Das Deutsche Pawn Shop. Also ignore that in the same speech she said:
- MERKEL SAYS NO SINGLE RESPONSE WILL SOLVE THE CRISIS IN EURO
- MERKEL SAYS WILL TAKE `FEW YEARS' TO RESOLVE EURO CRISIS
- MERKEL SAYS PEOPLE `MUST BE PATIENT' ON EURO CRISIS
None of this matters: with an all time record number of EURUSD short, it is a one way panic out of the burning theater, just as we predicted on Sunday: the EURUSD is now well over 200 pips higher from our entry point, and half way to the 400-500 bps upside target.
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Show us zee gold.
I believe the instrument Ms. Merkel is refering to comes with batteries and is kept on the nightstand next to her bed.
yes and apparently as imagined euro-area ones are the best.
Cheap beds...
Tempur-Pedic International Inc. (NYSE:TPX)
http://www.google.com/finance?chdnp=0&chdd=0&chds=0&chdv=1&chvs=maximize...
Said the Vibrator: Oh no, no please, not again, O what did I do to deserve this? Why couldn't I be little Sarko's wifes vibrator???
Dear vibrator,
Little Sarko's wife doesn't have the balls to use you.
Signed, Merky
Hey be nice. Merkel has bigger balls than Ben or Timmay...
Ze PIIGS need ze austerity! The PIFGIBS soon be my debt slaves !
o/t dont forget todays new and improved consumer credit numbers, all with new fancy calculations.
Angie want's ALL THE GOLD..
Bitchezzz...
WE BUY GOLD TEETH!
CASH FOR TEETH!!
Portugal is smilin' with three hundred tons. Ireland... not so much.
Guess the Fed Bank of NY is smirking even more with it sitting in their vaults "allocated."
You could fid Greece's gold in your bathroom, Portugal's gold in your smallest bedroom.
(Hopefully, your house would be on a slab.)
Today is as close to a gift short as I've seen in a long time.
Euros for your Gold
What about "Deutsches Leihhaus" ?
Now what would be funny would be to send those "Cash for Gold" envelopes to all Central banks around the world and see who responds.
This chart makes me think Ben will ease shortly. http://bloomberg.econoday.com/showimage.asp?imageid=22644
Operation GoGoBoots?
If this is the course Germany is going to follow, they will never be able to fill up the black hole they're chucking their dough in to.
Gold bitchez, wait until at 10am, when the Ben doesnt say anything and the algo is launched to break gold back to below $1,600, where it belongs!
Gold should be way above $5k by now.. but hey - it seems for you ignorance is bliss .
Patience, temperance and zero leverage
I am only being realistic. look at where it is trading, only minutes before the speech..
Gold is going down ... again. Where it should be is not relevant, where it is is what matters. We should all be rich and handsome, but ...
Crawled back out again eh? How was the Jubilee?
The sewer lines in the neighborhood were backed up yesterday but now that Bastiat009 is with the shit is flowing again.
I’m not looking for an absolute target. All I want is to be in the black and beat SGS’s inflation rate on a geometric basis 4 years hence following each purchase.
I hope so since I want to buy a few more maples
And even if he says something, the algorithm will still be released to crash gold...
More nondescript BS to keep shit pumped up.
Merkel's movements are usually followed by wiping and a flush. Get that Greek guy you give her a few upside the head.
Back to unicorns and rainbows. No more problems, just say some words the markets want to hear and let the printing machines work.
I could never be a politician. To stand up there time and again saying basically the same thing hoping that enough will believe you to get back to debt consumption.
Adding new debt layers upon dead, bloated and outgassing debt layers is not going to work.
I do not care how many fake pine trees you hang in the car, removing the corpse in the back seat is the only way to make it smell better.
pods
The problem is that it works till it doesn't. And while it is working, people are happy (you like happy people) and you get elected. Everyone likes free stuff, and you have lots of free stuff, at least till it costs something (like your grandkid's future).
Threaten to pull the plug or change the channel while the kids are watching this cartoon and you risk it all.
You're wrong. The corpse is driving the car.
You could never be a politician because you've never been MKULTRAed.
William Banzai,
A request, Merkel on the side of the street spinning a "WE BUY GOLD" sign.
The true market mover comes from dissecting every word that comes out of the bearded one's mouth.
So Europe continues to socialize up the food chain! We all know that once they reach the top, WE will ALL be in bondage to the elitists!
I wonder if Euro area instruments include panzers.
Forget Merkel, bring on Helicopter Ben!
Between Ben's "tools" and Angie's "instruments" one can only imagine what that bastard child would look like.
Don't tell me I didnt warn you about the algo at 10am
Euro-area INSTRUMENTS - now that is too easy: http://en.wikipedia.org/wiki/List_of_methods_of_torture#Medieval_instrum...
Check to WB7 for the images.
Banging the pms hard again. dslv and dust are the plays today. another obvious day of trades, gotta love it.
I told you so....gold got crushed.