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And Once Again, German, French Discord Threatens To Scuttle European Bailout Reports AP

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Tue, 10/18/2011 - 10:35 | 1785003 GeneMarchbanks
GeneMarchbanks's picture

No default. They enjoy torturing. Theater of cruelty, Antonin Artaud style.

Nobody gets left behind in this Eurocalypse!

'France on the other hand has been reluctant to back bigger losses for banks, since French banks are among the biggest holders of Greek government bonds.'

They smell it coming, the French. Beloved FrAAnce.

Tue, 10/18/2011 - 10:38 | 1785041 slaughterer
slaughterer's picture

I think Tyler is having his Jim Cramer "They know nothing!" Bear Stearns moment.  

Tue, 10/18/2011 - 10:47 | 1785089 GeneMarchbanks
GeneMarchbanks's picture

Aren't we all?

Tue, 10/18/2011 - 10:54 | 1785128 heyligen
heyligen's picture

But...but...what about a few trillions in positive fair value adjustments on structured liabilities (Bank of America terms)?

Tue, 10/18/2011 - 12:36 | 1785662 gangland
gangland's picture

The roof, the roof, the roof is on fire!

We don't need no water—Let the motherfucka' burn!

Burn, motherfucka', burn!

Tue, 10/18/2011 - 11:31 | 1785387 emsolý
emsolý's picture

Mugatu's crazy-pill moment comes to mind, too:

"The man has only one look for Christ's sake! Blue Steel, Ferrari, Latigra? They're the same face! Doesn't anyone notice this?! I feel like I'm taking crazy pills. I invented the piano key necktie. I invented it! What have you done, Derek? Nothing!"

Tue, 10/18/2011 - 12:28 | 1785635 Schmuck Raker
Schmuck Raker's picture

I'm a little worried about Tyler - the anger is palpable.

Tyler, go watch the Ping-Pong Robots again. It soothes.

Tue, 10/18/2011 - 13:03 | 1785763 Ghordius
Ghordius's picture


printing or not printing?
Tyler's or Germany's way?

Tue, 10/18/2011 - 11:47 | 1785468 tiger7905
tiger7905's picture

Some insight from Don Coxe on G20, he was requested to write up a piece on commodity regulation for the upcoming meeting.




Tue, 10/18/2011 - 10:32 | 1785008 Quintus
Quintus's picture

Are we the only ones dazed, confused, and tired beyond comprehension with this endless, ridiculous, pathetic, grovelling Groundhog Day bullshit?



Tue, 10/18/2011 - 10:35 | 1785022 Lord Welligton
Lord Welligton's picture


Tue, 10/18/2011 - 10:36 | 1785026 GeneMarchbanks
GeneMarchbanks's picture


Tue, 10/18/2011 - 10:46 | 1785081 kaa1016
kaa1016's picture

Not at all. Seriously, what is wrong with these people?

Tue, 10/18/2011 - 11:08 | 1785211 WonderDawg
WonderDawg's picture

Those who benefit from the status quo will not let it die easily.

Tue, 10/18/2011 - 11:46 | 1785465 V in PA
V in PA's picture

Whales are large, slow creatures. Sometimes it takes years for them to be properly positioned.

Tue, 10/18/2011 - 13:32 | 1785903 Freebird
Freebird's picture

Exactly. Just make the fucking decision muppets. Pull the plug or go the 2 Tril.

Tue, 10/18/2011 - 11:03 | 1785179 Ahwooga
Ahwooga's picture

The despair evidnet in Tyler's words here have absolutely made my day since they so closely reflect the despair I feel. So very very very tedious, and I don't know for how much longer I can read the same chicken shit wrapped up as a different flavoured chicken salad.

Tue, 10/18/2011 - 11:43 | 1785443 Clorox Cowboy
Clorox Cowboy's picture

I think the hardest thing for me has been watching the slo-mo trainwreck and trying to pretend it doesn't matter around friends and family who don't believe anything is wrong, and are probably sick of me talking about how close we are to the edge...I need to schedule a meeting with Cognitive Dissonance. Anyone seen him?

Tue, 10/18/2011 - 11:57 | 1785498 disabledvet
disabledvet's picture

It's easier to read if presented in its properly ridiculous fashion. Think "Young Frankenstein" meets "High (finance) Anxiety." I'm already full on "looney tunes" reruns I'm at such a loss for words.

Tue, 10/18/2011 - 12:16 | 1785580 Ronaldo
Ronaldo's picture

I thought that was a chicken salad sandwich, really tastes like crap though.

Tue, 10/18/2011 - 10:34 | 1785016 The Big Ching-aso
The Big Ching-aso's picture

Playing musical chairs sux when the chairs are made of balsa wood.

Tue, 10/18/2011 - 10:37 | 1785023 DormRoom
DormRoom's picture

It makes sense..  A greater Greek hair cut would imply more French intervention to recapitalize its banks, so it would surely lose its AAA rating.  Germany doesn't want to bailout French banks.


ECB is proxy for a French monetary whore bath.

Tue, 10/18/2011 - 10:50 | 1785111 oogs66
oogs66's picture

and they got themselves the head of the IMF too!

Tue, 10/18/2011 - 12:30 | 1785642 AldousHuxley
AldousHuxley's picture

IMF also lent money to Greece

Tue, 10/18/2011 - 10:54 | 1785129 Idiot Savant
Idiot Savant's picture

The French will eventually surrender, they always do.

Tue, 10/18/2011 - 11:05 | 1785190 prains
prains's picture

The French will eventually surrender, they always do.


this weekend will be a great example of that Allblacks 44, France 9

the haka will be spectacular

Tue, 10/18/2011 - 11:23 | 1785320 falak pema
falak pema's picture

nine points for what?

Tue, 10/18/2011 - 12:18 | 1785589 Ronaldo
Ronaldo's picture

9 points for attendance

Tue, 10/18/2011 - 12:43 | 1785694 falak pema
falak pema's picture

that sounds like a GS fee!

Tue, 10/18/2011 - 10:35 | 1785024 Peter K
Peter K's picture

It's only words. The Eurocrats are trying to get them right. Once they get the right words in the correct order, all these problems will just disapear. And the world will be safe for the spead of socialism, economic justice, livable wages, tooth fairies, ect, ect..  You get the drift. :)

Tue, 10/18/2011 - 10:36 | 1785027 boom goes the d...
boom goes the dynamite's picture

Germany vs. France, or all of Europe for that matter. I'm down with Germany.


Tue, 10/18/2011 - 10:36 | 1785028 Spitzer
Spitzer's picture

Allot of gold bugs seem to think that Euro land and the US have to keep printing in order for gold to continue up. That is just not the case. Gold will go up without new printing.


Tue, 10/18/2011 - 10:39 | 1785043 DormRoom
DormRoom's picture

 The top U.S. derivatives regulator is slated to vote today whether to curb trading in oil, wheat, gold and other commodities after a boom in raw-materials speculation, record-high prices and years of debate and delay.




Gold is going to collapse.  Naked CDS unwind, may mean gold unwind.  Commodity bubble may collapse in next few month.

Tue, 10/18/2011 - 10:46 | 1785082 GeneMarchbanks
GeneMarchbanks's picture

@Spitzer & @DormRoom

Let me ease your confusion. Any collapse will set a series of events in motion that the  paper price of anything let alone gold, will be the least of your worries. See Kyle Bass.


Tue, 10/18/2011 - 11:25 | 1785333 Spitzer
Spitzer's picture

@ DormRoom and GMB

When the COMEX defaults, and the paper price of gold crashes to $200 an oz, good luck finding a seller of physical.

Tue, 10/18/2011 - 10:53 | 1785125 adr
adr's picture

Well I hope they do something. Ties into what I looked at when the volume of commodity contracts traded went up by a factor of ten starting in July this year. Bloomberg has some old data. The total cntracts traded in the past few weeks in corn are higher than the total for all other commodity contracts combined in April.

I have a hard time believing there are 225k individual buyers of corn contracts in one day.

Tue, 10/18/2011 - 11:23 | 1785285 Quinvarius
Quinvarius's picture

The paper money bubble needs to finish collapsing.  There is no bubble in commodities.  The idea that gold is in a bubble is ludacris beyond all comprehension.

Tue, 10/18/2011 - 12:11 | 1785552 DosZap
DosZap's picture


Gold is going to collapse.  Naked CDS unwind, may mean gold unwind.  Commodity bubble may collapse in next few month.

I see it differently, this is what we have been waiting FOR.

IF you CANT PAPER IT, then you have 2 choices, do without, or BUY THE REAL DEAL.

Temp drop in prices, no one except a fool is going to get caught w/out Physical GOLD>



Tue, 10/18/2011 - 10:37 | 1785035 schadenfreude
schadenfreude's picture

Yes please. We all know, that a default is unavoidable. Stop kicking the can.

Tue, 10/18/2011 - 10:37 | 1785036 agent default
agent default's picture

Banks should accept a 100% on their Greek bonds and that's that.  We all know Greece is a hopeless deadbeat, unless there is some ulterior political/foreign policy motive here, there is no point in beating this dead horse.

Tue, 10/18/2011 - 11:12 | 1785223 zorba THE GREEK
zorba THE GREEK's picture

The real question is: After Greece fails, how much of a haircut will have to be

taken on Frdnce's debt?

Tue, 10/18/2011 - 10:38 | 1785038 Irish66
Irish66's picture

downgrade in minutes

Tue, 10/18/2011 - 10:38 | 1785040 broke433
broke433's picture

Guys, don't fuk with the Bernenk

Tue, 10/18/2011 - 10:40 | 1785052 disabledvet
disabledvet's picture


Tue, 10/18/2011 - 10:40 | 1785055 digalert
digalert's picture

Hear, Hear!

Tue, 10/18/2011 - 10:41 | 1785057 Fips_OnTheSpot
Fips_OnTheSpot's picture

Awesome - best posting this month!


STOP THE DRAMA - damnit!

Tue, 10/18/2011 - 10:42 | 1785059 defn8Dog
defn8Dog's picture

Banks will wish they took 50 cents on the dollar on Greek debt.  The one year GGGB is trading at 35 cents today.

Tue, 10/18/2011 - 10:42 | 1785061 Cone of Uncertainty
Cone of Uncertainty's picture

Global Monetary System Collapse

Tue, 10/18/2011 - 10:45 | 1785077 Quintus
Quintus's picture

We can but hope.  

Sounds harsh, but really the current system is diseased and incurable.  At this point, only collapse followed by reconstruction will purge the accumulated detritus of a century of fractional reserve, central bank based monetary ponzi fraud.

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