And Now "Coercive" Greek Default Seems Inevitable -Deal Failure Would Be "Catastrophic" Greece Warns

Tyler Durden's picture

Just like the imminent French downgrade, nobody could have possibly anticipated a few hedge funds blowing up the Greek bailout. Oh wait - we did... in June.

  • GREEK BOND SWAP NEGOTIATORS NOW LESS OPTIMISTIC ABOUT REACHING A DEAL - SOURCE CLOSE TO TALKS
  • GREEK BOND SWAP NEGOTIATORS WARN FAILURE TO REACH DEAL WOULD BE CATASTROPHIC FOR GREECE, EUROPE - SOURCE
  • IIF SAYS GREECE TALKS `PAUSED' AFTER NO `CONSTRUCTIVE' RESPONSE
  • IIF SAYS GREECE TALKS HAVEN'T PRODUCED `CONSTRUCTIVE' RESPONSE
  • IIF SAYS TALKS ARE `PAUSED FOR REFLECTION

But the IIF just told us yesterday how things are going swimmingly. Maybe that is not all that surprising...

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youngman's picture

Running to Treasuries and Bunds as we speak...and selling Gold and Silver....lol....what a world we live in..

Dr. Engali's picture

Earlier this week I was jokongly talking about the 10 year going under one percent yield. It's not looking like a joke now.

BandGap's picture

Yowza! This always amazes me, the inevitable is a surprise.

DeadFred's picture

OT but the Swiss peg is sure under attack.

hedgeless_horseman's picture

 

 

At least Italy is fixed.

Betty Swallsack's picture

A Eurozone/US read here from Dec. 16, 2011:

http://www.leap2020.eu/GEAB-N-60-is-available-Global-systemic-crisis-USA-2012-2016-An-insolvent-and-ungovernable-country_a8481.html

My fave....

Thus, according to LEAP/E2020, the 2012 election year, which opens against the backdrop of economic and social depression, complete paralysis of the federal system (29), strong rejection of the traditional two-party system and a growing questioning of the relevance of the Constitution, inaugurates a crucial period in the history of the United States. Over the next four years, the country will be subjected to political, economic, financial and social upheaval such as it has not known since the end of the Civil War which, by an accident of history, started exactly 150 years ago in 1861. During this period, the US will be simultaneously insolvent and ungovernable, turning that which was the “flagship” of the world in recent decades into a “drunken boat”. 

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GeneMarchbanks's picture

A distraction and nothing else.

PaperBear's picture

Where is Eric Sprott with his purchase of 50 million oz of silver, that's what I want to know.

PaperBear's picture

Do the cartel really want to knock silver back down to $26/oz which would allow Eric Sprott to get his 50 million oz even cheaper than today ? Hell, he might even get more than 50 million oz.

supafuckinmingster's picture

Stop hitting the "save" button twice. Have patience.

slaughterer's picture

Low short interest, low volume (before holiday weekend) = any bad news will lead to an exaggerated sell-off.  

EscapeKey's picture

Whatever do you mean? Hopium smoking is up by 4 points to 74.

WASHINGTON (MarketWatch) -- A gauge of consumer sentiment reached 74 in the preliminary reading for January, the highest level since May, compared with 69.9 in December, according to Friday reports on the data from the University of Michigan and Thomson Reuters. Economists polled by MarketWatch had expected a January reading 73 on higher stock prices and improving jobs conditions. The sentiment gauge, which covers how consumers view their personal finances as well as business and buying conditions, averaged about 87 in the year before the start of the most recent recession. Economists watch sentiment data to get a feel for the direction of consumer spending. 

And yesterday, Marketwatch finally added a correction. It was in regards to the Philly Fed index not being as bad as initially printed 3 months ago. Of course, that only better than expected revisions are printed just shows the complete lack of bias the site has.

SillySalesmanQuestion's picture

Pass the hopium hookah around and maybe some trickle down will show up to help out...

The Fonz...before shark jump's picture

Long weekend in the USA and Europe is open Monday? Look for some strange monkey business and one would be nuts to hold any financials over the weekend

The Deleuzian's picture

Just sold equity positions today...Maybe unwise to hold any stocks except the short ETF's........

Urban Redneck's picture

Convenient - ChairSatan's minions can better focus their manipulative attentions.

new game's picture

greece fatigue-fucking had enufda...sink the ship already, man the life boats! paddle to the promissed land of debt free life.

fuck the ptbe and get a back bone my fellow greeks...

kralizec's picture

It is shaping up to be one fine Friday the 13th, ain't it?!

Archduke's picture

from dallarama to drachma

Everybodys All American's picture

Greece needs to grow a pair and move on ...

youngman's picture

Why?..... as long as the other idiots are going to give them free money...why not take it....its when the rest of the world..meaning the bankers grow up...then Greece will leave the EU..or at least default...

homersimpson's picture

Could it be the ponzi scheme called the stock market is finally catching up to reality? For our sakes, I hope so.

Disclaimer: LONG (for as long as I can take it) FAZ

CvlDobd's picture

"as long as I can take it. " lol

You sir are dedicated. I know you lift shares of FAZ to people you respect. I will drink a snow day in you honor this evening.

Al Huxley's picture

Homer, if the market's a rigged casino, then FAZ is the 3 card monte game out in the alley - it's completely geared against you mathematically, nevermind any other elements of 'market manipulation'. Financials are a great short, but the only way to do it is to actually short them (or sell uncovered calls if you can). Everything else is just feeding the crooks who run the system.

Spaceman Spiff's picture

greek debt may be better investments than the ultrashort etfs.

lizzy36's picture

How is this possible? HOW?

Just yesterday and week before that,, and week before that, these "talks" were going fantastic. They were constructive and deal on the debt swap was "imminent".

Were all these Officials LYING? Trying to spin this story to their own advantage? 

I am shocked. Just shocked.

gmrpeabody's picture

Yes.., and this establishment will be closed until further notice!

I'll be by in the morning to pick up my winnings.

bnbdnb's picture

EURUSD support broke. 1.2500 here we come.

yogibear's picture

Kaboom!!! The Euro is toast in it's present form. The lies and cover-ups only last for a while. The math will win in the end.

Jlmadyson's picture

OT: FBN, France treasury no comment on downgrade.  Done.

 

Greece is cooked.

 

Credit event.

bugs_'s picture

looking forward to trading the New Greece?

AccreditedEYE's picture

WAAAAYYYY ahead of CNBS on this announcement, as usual. Hey Dougie Kass, how them "long rentals" workin' out for ya?

semperfi's picture

Every day is a CATASTROPHE.  Every day is a CRISIS.  Every day is ARMAGEDDON.  Every day is a DOWNGRADE.  Every day is just THE SAME OLD DECEPTION & MANIPULATION BULLSHIT so the money manufacturers can gin up more eMoney and keep their orgy going.

PaperBear's picture

Where is Eric Sprott with his purchase of 50 million oz of silver, that's what I want to know.

bnbdnb's picture

Look at that fake pump on the EURUSD pair. Squeeze them shorts, CBs, this one has legs.

Caviar Emptor's picture

The Great Poker Game has entered a new phase. Greece (and Spain, Portugal and maybe Italy) will leverage their threats to leave the Eurozone increasingly from now on. For Spain with 20+% unemployment and -7.7% decline in industrial output, the siren call to return to the Peseta at 90% discount is hard to resist. Argentina will lead the way

Bansters-in-my- feces's picture

Gold just got PPT'd....
Fuck you Timmy.