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And Today's Market Ramp Comes Courtesy Of...
... The Eurogroup, which according to various newswires has informally decided to use the EFSF for Spanish financial sector bailout, likely to be transferred to the ESM later according to sources.
It seems that now they are not even trying. Like yesterday when the market idiotically ramped when Merkel said that the ESM and EFSF can do... what they are designed to do, namely buy bonds, so today, we "discover" that because the ESM is actually non-existent, and will be delayed as reported earlier due to German bickering, Europe will be stuck with the far smaller EFSF, which by the way has about €200 billion in dry powder left.
And this ramps the EURUSD by a whopping 40 pips. Thank you flashing red headline for giving another short-term shorting entry point.
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Ramp? Not with technicals thos broken. Its over!!!
The internet is undoing decades and decades of the social engineering programs, implimented through corporate TV and their other sources of brainwashing.
I am going to so enjoy watching the oligarchs control grid and themselves crash and burn.
I just thank God every day, as I have been doing for the past three years, for the complete and total worldwide economic collapse that I have so accurately called, as well as being accurate about the two previous mega bubble busts. I should be paid for my accuracy.
Michael,
You copy and paste the same mantra everyday? Please give us something new instead.
You beat me to it.
The Ramp has a huge Oil-slicked hole in it...
OUCH! BAC faceplant bitchez!
Sell the rumors and the news.
The TBTF taxpayer teat-sucking parastic drain financial players have rigged this to tank in a big way so they can prime the pump again. In other words, they're going to throw a big, loud tantrum, tanking 401(k)s, until they get what they want.
It's 2008's, Hank Paulson's "tanks in the streets & martial law if Congress doesn't give me a blank check and The Bernank a green light, bitchez," redux, deja vu, v2.0.
I remember that being reported Hank saying that. But I think that is going to happen anyway when all our liabilities don't get paid by the govt..
The factor that overrides your argument, reader2010, is that Zero Hedge does not have enough Michaels to repeat every day in every way the one development that will save us from absolute tyranny. And that one development, as Michael so carefully explains (and BTW it is a lie that it is repeated as a mantra) is the unraveling of the cartel noose that strangles free enterprise and free men throughout the world.
Thanks JR.
I usually only repeat my own stuff from time to time, if I would like to explode the heads of some day shift lurkers in the MSM and elsewhere, and it it was the subject of recent conversation.
I can't pay you, but I can reccommend you be reccommended for a reccomendation.
Michael: "The internet is undoing decades and decades of the social engineering programs, implimented through corporate TV and their other sources of brainwashing."
Really? You see a mass awakening occuring right now?
What I'm seeing is hordes of zombies walking around, staring at little screens and typing on tiny keypads. I don't see a larger percentage of the population actively questioning anything. Of course, if Social Media went down for a week, who knows what might happen.
The Internet is alive with the news that the empire, the cartel and the tyranny of our economy and politics are suffering a mass decline in credibility. It is becoming well known that the center of our problem stems from use of a fiat currency by a private banking cartel to control in secrecy the economy, the politicians and the country.
The internet has been the critical vehicle for the erosion of major political party power and the increase in independent registrations, the decline in newspaper and television influence on public opinion, and the foundation for the massive county by county Ron Paul movement gaining in strength every day. The GOP primary, where Independents can’t vote, is hardly a gauge for the most important political development since the establishment of the Federal Reserve – middle class awareness and backlash.
Never forget Deus QE Ex Machina
Looks like someone set the Algos to "evil". Just in time to blame Harry Potter.
Nigga, Gryffindor is waiting for the RESET, don't pin this on 'the boy who lived'.
Cast your accusations towards the ministry of misinformation.
or
The planetary worship of 'the beast' aka The global markets
We have not see the full on algo <evil> setting yet. This is just the <i'm confused> setting while the guy in control left his post for a crumpet.
BTFD.
STFR.
BTFD @ S&P 1000 or QE3
QE is forever baked in the cake. Come on, it's the final global taxing scheme.
Diminishing Returns is baked into the cake deeper than QEinfinity.
Don't you think people will wake up when QE4 is 25 trillion?
People don't give a fuck as long as their EBT still good.
Damn dollar is going to be worthless against all other worthless currencies at this rate.
USD is ripping higher today. broke out of its down channel and now sets its sight on $88.
Wanna trade my euros for your dollars?
My mom said they're the best!
I'm not interested in Euros.
Is your mom hot?
Moody's is under pressure to hold off Bank downgrade until AH...
Rump, not ramp, as in "exposed rump"...
I must have missed something
...any minute now...wait for it...
Yeah! We're saved! oh... wait...
Must hold 1330 - just because its a pretty #.
Just 1.41 away. LOL!
ETA - Oops! 1329.05!
Sorry dude!
Sounds like those EU press releases are losing their bling...
What exactly is ramping on the news?
Must be drugs, some pharmaceuticals are up.
Market rips up on algo driven buying when headlines cross the wires. These computers can actually read these days.
Headline risk bitchez.
Ready?!
Aim!!!
SHOOT YOURSELF!!!!
Europeans: a bunch of dithering clowns.
Your a indian?
Ramp? More like a speed bump. This fuckers' going down. Margin call bithchez.
Just curious...I wonder how this drop will help JPM on their trade....if it will at all.
This drop is nothing, unless there are more like it in sequence, then you have big players getting out and overwhelming the algos. I am not sure how long the people in control of the algos would tolerate that.
If we have about 5 days of it, I believe that will turn the algos - and then is when the fit hits the shan.
There is a real flight-to-quality today. FB is up 0.5%
That was me .. I bought a dozen shares ...
If funds for Spain's banks come from the EFSF, the new loans would not explicitly be senior to other private claims but Spain would no longer be able to guarantee the previous loans to Greece, Ireland and Portugal. http://bubblesandbusts.blogspot.com/2012/06/unending-subordination-of-pr...
The Eurogroup want this train to pootle along for as long as possible.
Until it wrecks.
I said 'pootle'!
The fun seems to be over. But I enjoyed pulling my hair out.
Strange indeed
ramp? you mean off-ramp