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And In The Meantime, The German Stock Market Plummets
While Buffett is forced to bailout America's most insolvent bank, which just confirmed our prediction that it will need to raise capital (although this capital raise was far lass than what will be finally needed), Europe has realized that it has no kindly-looking, ukulele-playing, no-income-tax-paying billionaire equivalent to bailout Intesa, SocGen, UniCredit, etc, etc, oh, and tomorrow, the short-selling bank is supposed to expire. End result: DAX flash crashes, and no rebound yet.
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Might have something to do with problems in the german coalition (CDU and FDP)
That or the global depression. Hard to say.
The DAX got the ax.
lol
The PPT took their eyes off Germany for a couple of minutes and look what happens. Should be interesting to watch the markets seesaw this morning as the global PPT bounces between Europe and US markets.
There are a lot of balls being kept in the air...
Best to not look away.
Fin's aren't going to rollover and take less than GOLD for their support.
So there!
Did the Rothschild's just go long XLF and short DAX???!?!?! Cheeky bastards!
short ban rumor
http://www.reuters.com/article/2011/08/25/us-markets-europe-stocks-idUST...
there is not a global depression. The state of a nation's economy is reflected in its balance sheet, prior to QE, and its money supply.
Asia Pacific-Brazil-Infation
US, Europe, Japan- deflation.
UK - stagflation
QE indirectly distorts a nation's money supply, from the currency markets, as hot money flows into it, and a central banks have to print money to offset currency appreciation, thereby increasing the money supply.
externalities.
Its been the US Jobless Numbers, silly. Look at the time and "no rebound"?
Better look again:
http://www.boerse-frankfurt.de/DE/index.aspx?pageID=168
That is a pencil holder, right?
HE -I just laughed so hard at that a bit of wee came out......I should get that checked out really
Well, I guess size does matter for Germans:
German finance minister is a disabled gay lier
Ouch...
I take it you have inside information.
Disabled - well he was shot three times...(Smith and Wesson, cal .38)
Gay - who knows - well officially he is married and has children. But does it matter?
Your last point - liar. Well, yes and yes. He is a thief and a liar and someone that has no respect for the general public or the parliament or democracy. That's why I really dislike him and what even makes me furious at times.
It's not the size that matters but how you use it, ehh? lol In that case they're screwed twice over.
if they hadn't removed their financial condoms before screwing everyone, we'd all be healthier.
''problems in the german coalition'', you mean like this >>> http://www.spiegel.de/international/germany/0,1518,782171,00.html
yes, this and other things. but honestly i doubt this could lead to such a sharp sell-off. i guess we will hear about what it was later on today
"kindly-looking, ukulele-playing, no-income-tax-paying billionaire"
So fucking hilarious!
And I know of many decent, hard working middle-class ukulele-playing ordinary citizens who now have to be lumped in with Comrade Buffet.
They aren't too kindly-looking of late and do pay taxes; no lumpenproling required.
"kindly-looking, ukulele-playing, no-income-tax-paying billionaire"
Ich bin ein has-beener
DAX: it is just Buffet pulling his money out of German companies to cover his check to Moynihan.
You could be onto something there. Buffet sees the Euro biting the dust first.
DAX is down on short selling ban rumors...hearing this from traders this afternoon.
Das war aber schnell! Gell?!?! :)))
Auch, meine Pensionskasse!
Acupulco Cliff Diving Bitchezzzzz.
Uno mas Corona por favor camarerro.
Könnte auch fat finger gewesen sein..
Wessen Finger?! :))) Warren's?! :)))
Waffe & Reich take responsibility.
NYSE brought the "flash crash" virus to Frankfurt.
Volume?
Huge volume
I had to laugh when I read this:
"oh, and tomorrow, the short-selling bank is supposed to expire"
Perhaps will be seen as a really prophetic, freudian slip. Funny!
Vivek
http://aadivaahan.wordpress.com/2011/08/24/precursor-03-bottom-falling-out-still-still-and-a-gander/
Caught that.
(sic)/off.
BTFD!!!
Wo ist Brian Sack?
Utility stocks
it does not mater tyler people are in bliss until september
(actually people got caught too short and this is a short squeeze worthy of 2008)
Mother of Chrome, WTF was that? Jesus on a pogo stick, we're heading for a wild ride.
Rumors of a German Downgrade.
Maybe due to this? :
the ECB has effectively left Germany holding the bag to the entire European bailout via the blank check SPV. The cost if things go wrong: a third of the country economic output, and the worst case scenario: a depression the likes of which Germany has not seen since the 1920-30s. Oh, and if France gets downgraded, Germany's pro rata share of funding the EFSF jumps to a mindboggling €1.385 trillion, or 56% of German GDP!"
http://www.zerohedge.com/news/merkel-facing-german-revolt-over-greek-bailout
Germany is the last one to be downgraded. First of all Germany will ask to have Gold as collateral for new loans to the PIIG countries (http://www.spiegel.de/wirtschaft/soziales/0,1518,781885,00.html) then, when they have it all, they will bancrupt Germany and hand the Gold over to the U.S. (to the Fed for example). Fortunately most of the Gold already resides in NY vaults
Funny, but most of us think the vaults hold a lot less than you do. At least, the public vaults.
yes true, but just like what Chavez did they want to avoid: Someone requesting their gold. THerefore it will not matter if the vaults just contain gold plated tungsten
It's all good...assuming they can convince the PIIGS to put up 33k tonne of 'collateral'. LOL
bloomberg keeps on trying to blame the german stock mkt puke on "flash crash"
the liberal media working for the administration
The media works for their owners - just the same as both political parties.
when the sp is 600 and we are in a civil war, who will zh attack next? who will buy this site? when the game is over, who cares?
and, btw, i hate ws and the market..........
just askin
are you lookin for me?
If we're in a civil war, I know I'll be attacking the fucking Yankees. You?
how do you recognize the good guys and the bad guys? How will people recognize true genius like you?
I'll be attacking anyone who attempts to systematically exert involuntary force over others.
If posting the truth is an "attack", then you have bigger problems.
-4
Cook wants to add ZH as a desktop feature for all new iPads. AAPL will be making an offer to Tyler soon for rights over iZH.
<- Poke the left one
<- Poke the right one
Maybe someone whispered DEM ??
Nah...
People better set their stop losses on the ES. What just happened in Germany is scheduled to happen in the US today or tomorrow.
Yes exactly, and everyone will be caught off guard. 'Ultimate dumb money indicator' RoboTrader sealed the deal with his earlier post this morning 'Im warning you now, this coming fear based rally will be one for the history books!'
good place for some ATM oppies on the sp. I think I'll take my advise.
calls and puts
They might hold it together today but I think tomorrow is going to be a friggin bloodbath.
Like a weathervane in Irene aren't ya?
Just the beginning. And, just added half the physical gold right here at these prices. And if drops another 100 or so will add the other half. Miners sell off over??? Ask me at 4 PM>
:)
Something to do with a Pennsylvania bond downgrade?
Eurocliff...
Global collapse inside a global 'dont worry, be happy' overall bubble of delusion....JUST GREAT!!
Dissonance, bitchez.
WATCH OUT OIL.......
ALX
As a producer, my near future is not so bright. I think I'll take my sunglasses off now.
It's astounding,
Time is fleeting,
Madness takes its' toll
Look closely, it's not for very much longer
I've got to keep control !
Tune for our Times ...
http://www.youtube.com/watch?v=aizCMO-mI1Q&feature=related
Rocky Horror Show +1
"It's just a step to the left..." :>D
REBOUND. Boring world we live in.
Merkel dissed by Kohl today just before crucial vote
Well IT has just trimmed Buffet's profits on this mornings deal!
unicredit has gaddafi!
oh wait
NOT!
If they downgrade GERMANY who will bail out the rest of us? This is getting crazier by the millisecond.
Gold. Germans want all the Gold in Europe, and funny thing, they will get it from the wasteful non-productive olive countries as collateral.
We give you paper EU notes...and you hand over yoru gold.
It's a Deal!
BofA to Warren:
"rape me"
http://www.youtube.com/watch?v=JkoIkHviVcw
there were rumours early today of a short selling ban on dax to be implemented today at close...so is everybody rushing to put shorts before the ban? so once you can not go short of any euro equity index, it will be time to engineer a short squeeze....
German regulators have come out and said no plans and no conditions to warrant widen the short selling ban.
thanks lizzy
so basically the german bulls want a kommunist market
The only save haven that is still existing... lemme tell ya: PM's, bitchez. Get the blingbling while available!!!!
Sorry guys, this is all doomer goon nonsense. Reality has a well known doomer bias.
Yep, just smile and sing a merry song when you buttraped by the gang of old white men!
If you're in your happy place, in your cave, with your power animal, are you really being butt raped?
The trolls deal with it like the dead. They ignore their burning flesh, and the possibility for gaining true understanding, and instead steep in their own ignorance.
So sad.
So is Warren sitting in a dark room somewhere with his hand in a hollowed out copy of Keynes's General Theory repeating over and over "fear is the mind killer?"
Just another day for Warren "Kwisatz Haderach" Buffett, I guess.
More like Baron "Warren" Harkonen! :>D
FRANKFURT, Aug 25 (Reuters) - The euro will not fall apart because the political mechanisms of the European Union in its existing form would not condone such a move, German Finance Minister Wolfgang Schaeuble said on Thursday.
He added that what is good for Greece is good for Germany.
-----------------------------------------------------------------
25-08-2011 16:37 Germany's Schaeuble: MPs have enough say in EFSF
FRANKFURT, Aug 25 (Reuters) - Germany's Finance Minister Wolfgang Schaeuble said on Thursday that criticism that the country's parliament did not have enough say in the debate on the European rescue fund EFSF was not justified.
He also said an agreed increase of the EFSF to 440 billion euros would suffice to calm markets and, when asked if the euro would still be around in 10 years, he answered: 'I definitely think so.'
the wheels go round and round, round and round, round and round
The Wheel - Grateful Dead
Just so I'm clear, every time anyone says "bloggers" on CNBC what they really mean is "ZeroHedge . . . oh, God how I wish I hadn't sold my soul and had actually decided to tell the truth and be a leader."
Tyler, thank you for being our leader.
Simon is toast
BROKEN!!!
I've been brushing up on WWII history lately and it is ironic that Germany may indeed rule Europe again. You gotta give Hitler some credit as he really took a post WWI shithole and built an incredible machine. I'm always on the lookout for the same thing to happen elsewhere when things get really desparate.
the symbols, uniforms and stated objectives/motivations may be different, but I think the same fundamental things are happening already.
Yes, the Germans have always been hard working and team players. Their small-big company regional (Landers) alliances are impressive. On the historical front, during the middle ages, they had two centers of excellence : Swabia and Bavaria. Who fought for being Kaiser, Holy Roman Emperor. Guess what, now these two regions make Mercedes and BMWs respectively. Serious people I tell you since donkeys years!
yep, we'll rule you with our very talented and charismatic leaders!
With cleavage like that, bend me over and make me write bad checks! :>D
First!
London Telegraph :
"Insurance on the debt of several major European banks has now hit historic levels, higher even than those recorded during financial crisis caused by the US financial group's implosion nearly three years ago.
Credit default swaps on the bonds of Royal Bank of Scotland, BNP Paribas, Deutsche Bank and Intesa Sanpaolo, among others, flashed warning signals on Wednesday. Credit default swaps (CDS) on RBS were trading at 343.54 basis points, meaning the annual cost to insure £10m of the state-backed lender's bonds against default is now £343,540 (...)."
http://www.telegraph.co.uk/finance/financialcrisis/8721151/Market-crash-could-hit-within-weeks-warn-bankers.html
Out of topic.
NAT GAS!
Big money pouring in that commodity right now IMO. Oversold, ready to bounce. The low volume today means that seller are fewer IMO. Storage below 5 year average, despite solid procdution. Any regulation against Fracking and you got something big.
Gold? Silver?.... Nah. Nat gas at the bottom!
In any case... Nat gas is something to consider for a diversified portfolio IMO. Maybe I should take time to write a Guest post on that. The UNG charts say something big is coming. Like a possible bullish cross of Ma(20) into Ma(50) on the UNG weekly chart. Never happened since 2008.
http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID3186525&cmd=show[s172926247]&disp=P
Totally out of topic... sorry. But no one care about nat gas... Only Oil Gold and Silver.So many have been burned going long NAT gas cause of the contango.
Goldman is supposedly Short October Contract (the front month is 2 days trading) . At least their client. Shorts that have been paying off until today IMO.
LOL Strange that low today is 3.84 on October contract. 1$ off the Goldman Short Sell recommendation at 4.84.
Tyler... I know you are busy but maybe you could look into this? Funny if 3.84 is the low. Powerful and funny at the same time.
Note that last year Nov got as low as 3.255. So Nat gas is dangererous... with or without Goldman playing with it.
But the media has just junked frack gas potential...
What do you mean? Do you mean disruption in production or increase in production by that?
Disruption in production (specially if Fracking is strongly regulated... but I doubt that is coming shorty) would send Nat gas to the moon...
No way are regs going to stop fracking, I work for the company who makes the high HP transmissions for the rigs. We have orders going out for YEARS. I think the oil and gas companies have a green light to FRACK BABY FRACK. So oversupply will cripple NG prices, IMO.
I'm praying for another market meltdown and Secular Bull. Our stock went up 8x since the March lows. Its a small cap growth stock if you want to investigate..
Had me at Goldman is Short - time to go long on gas, perhaps?
Fracking legislation on the slate in many states - both pro and con, and gas is volatile already, right?
Most modern powerplants can switch from liquid to gas-fired almost overnight, depending on the price - makes for a complicated future. Cheap gas, more usage, demand rises, supplies drop, price increases, rinse, repeat.
Placing a large bet in this market can be Very Costly - and Quick.
While the price of gas probably won't go to zero, the paper sure can burn altogether.
Long, VIX, psyical
they are blaming the fall on a "fat finger"
they can blame it on the fat bellies
Das heisst "Fettfinger"
This new ratings affirmation business adds a nice touch.
With the world held hostage with debt devised by the central banks, only value will save…not the non-producers or the third world or the welfare nations…but the bankers themselves. Thus, the productive Germany people - like America’s productive middle class - is targeted as the victims in this latest transfer of value. Like parasites, the bankers have infested the politics of Germany to use the German people as their paymaster for reparations again – this time for their planned political and fiscal global governance, with its economic companion, world socialism.
99 Luftballons!
All this over a little excess Greece exposure.
If Bernanke isn't talking all about propping eurodollar liquidity on Friday then look out below.
BAC now 7.86, WB job was to provide an exit for those in club and for WB heavy lifting a better yield than he could get in Treasuries. Mission accomplished.
Now, now don't underestimate the Roths; And watch China make a move for Euros. Sarkozy is in China today.
Also, Germany will loosen purse strings when they get the swap lines in place, maybe Ben has a special present lined up at JH. Also when you have so many balls in the air its natural to scratch your ass from time to time...Ooops, I dropped one. Will Italy now cave in...? Or is it Greece that burns? Merkel is a very nervous filly these days...I wonder why oh why...Oh Helmut you didn't tell me I had this in store. I thought we were home and dry when you gave us 1RM=1DM. Ad now this. I think I will delcare E Germany out of the Euro and try something new there. WIth Russia and China. We must run but where. Oh Helmut...
The beat goes on.
A rumor and then turn the knobs on the HFTs.....Its criminal.
Fitc, Moody, and SP confirm Germany AAA.
When France didnt work for the R:ers why not try Germany....
Bitte ein Bit!
why is DAX back up all 4%??????
Germany questions the legality of ECB bonds. Oh no its wasn't real. Greece gets a free get out of jail ticket.
Now I know why DAX plummeted 5.1% in 20 minutes...
"...
Fitch Ratings-New York-25 August 2011: Fitch withdraws its 'F1+' rating on the Massachusetts School Building Authority (MA)
..."
Machiavelli warfare....not here but there.... :-)
It's Chicken Little time, bitchez....
I am having some friendly exchanges with my contacts in Germany.
Speculation that Germany is considering abandoning the Euro is no longer the preserve of conspiracy-theory-wonks.
http://www.mmnews.de/index.php/wirtschaft/8414-euro-deutschland-austritt
When august publications of the caliber of Die Welt discuss German exist strategies on how best to abandon the Euro-Experiment(even while opposed to the concept) - should one start asking for the German translationof : "Where there is smoke - there is fire"?
http://www.welt.de/finanzen/article13542699/Deutschland-wuerde-Aus-der-Euro-Zone-teuer-bezahlen.html
Watch the price of gold go pop - BTW Germans already are finding it virtually impossible to purchase physical gold - (as I mentioned in earlier posts)