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And For Today's Market Ramp Rumor Du Jour We Have...

Tyler Durden's picture





 

It has been a while since the Guardian came up with a European "bailout" rumor. Time to change that.

Angela Merkel is poised to allow the eurozone's €750bn bailout fund to buy up the bonds of crisis-hit governments in a desperate effort to drive down borrowing costs for Spain and Italy and prevent the single currency from imploding.

 

Germany has long opposed allowing the eurozone's rescue fund, the European Financial Stability Facility, to lend directly to troubled eurozone countries, fearing that Berlin would end up paying the bill, and the beneficiaries would escape the strict conditions imposed on Greece, Portugal and Ireland.

 

But Merkel has come under intense pressure as financial markets have pushed up borrowing costs for Spain to levels that many analysts see as unsustainable.

 

Analysts are likely to see the decision as the first step towards sharing the burden of troubled countries' debts across the single currency's 17-members; though it falls short of the "eurobonds" proposed by European commission president Jose Manuel Barroso.

 

The proposal was discussed on the margins of the two day G20 summit in Los Cobos, Mexico that has been dominated by the depressing impact of the eurozone crisis on the world economy.

 

It would be the first time that the EU bailout funds have been used directly to purchase Spanish debt. It is understood the money would come from both the €500m European Stability Mechanism and its predecessor, the €250m European Financial Stability Facility.

In a nutshell: Germany will somehow allow a fund, the ESM, which does not yet even exist, overturn the primary principle of the Eurozone, the no sovereign bailout clause, and use money which has not been funded, to subordinate bondholders across the entire continent (because ESM is priming) and serve as an additional secured lender in addition to the ECB...

In other words, the ESM will take place of the ECB's SMP. With the only difference that the ECB can print money, while the unfunded ESM will at best rely on the murky details of repo lending. Same subordination either way, of course.

Also, the whole no-bailout-clause thing embedded in the Lisbon Treaty... they were just kidding about that. 85 million Germans will understand:

Article 125

 

1. The Union shall not be liable for or assume the commitments of central governments, regional, local or other public authorities, other bodies governed by public law, or public undertakings of any Member State, without prejudice to mutual financial guarantees for the joint execution of a specific project. A Member State shall not be liable for or assume the commitments of central governments, regional, local or other public authorities, other bodies governed by public law, or public undertakings of another Member State, without prejudice to mutual financial guarantees for the joint execution of a specific project.

Finally ignore that the joint ESM-EFSF barely has enough money for Spain, let alone Italy. Courtesy of Ray Dalio and Bridgewater:

Sigh.

At this rate of idiocy hitting the tape, Ben better deliver tomorrow...

 


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Tue, 06/19/2012 - 13:16 | Link to Comment vast-dom
vast-dom's picture

Ben and the Fed please DIE DIE DIE DIE DIE DIE DIE DIE before you impose anymore ruin on these markets and hence the planet. And the EU too.....

Tue, 06/19/2012 - 13:34 | Link to Comment Ahmeexnal
Ahmeexnal's picture

Yet the sheeple in Deutschneyland (and the rest of the eurozone) keep glued to their TV sets and cheer a bunch of monkeys chasing a ball.

http://www.youtube.com/watch?v=lyHo8gW59FU

 

Who opened the door for the democrator? And how come he let in the market-conquistadors? Why is he acting as if he has something to hide? The privilege of the stupid is to be taken for a ride Gloomy working days Bright TV-nights There's a world ahead We can also see it's lights And the road there starts On the other side Of the screen, where life's Endless mercedes-rides Who opened the door... So we smashed the screen But it all went black We tore down that wall And we all sacked The fruits of KDW We were small to reach The only thin g we got Was freedom of speech Who opened the door... Happy ever after in Deutschneyland Happy ever after in Deutschneyland Happy ever after in Deutschneyland
Tue, 06/19/2012 - 13:55 | Link to Comment gojam
gojam's picture

Poll- "Which one of these unelected leeches is the ugliest face of the EU?" 

Vote early to avoid disappointment - http://theneedleblog.wordpress.com/2012/06/19/941/

Tue, 06/19/2012 - 14:01 | Link to Comment magpie
magpie's picture

Can't be bothered to watch anymore. The Polish and the Russian games were probably rigged anyway. 

Tue, 06/19/2012 - 15:27 | Link to Comment TruthInSunshine
TruthInSunshine's picture

In reality, it is the two financial capitals of cancerous fractional reserve central bank dependant 'member banks,' who are stuffed to the gills with the 'sovereign bonds' of the PIIGS, and consequently need another multi-trillion dollar bailout (the biggest to date).

So, it's New York & London (represented by Cameron and Obama, both funded, backed and, consequently, carrying water for Goldman, JP Morgan, Barclays, etc) vs German taxpayers.

The U.S. President and British Prime Minister, both bought and paid for puppets of Wall Street & London Lords of Finance, need to vacuum up the northern europeans' savings and pledge their future wealth, so as to allow Wall Street & London institutions to extend and pretend as they continue to bleed capital.

 

Tue, 06/19/2012 - 15:30 | Link to Comment magpie
magpie's picture

Ah, if it only were so simple...

Tue, 06/19/2012 - 16:13 | Link to Comment TruthInSunshine
TruthInSunshine's picture

It's not?

What's so complicated about letting diseased-ridden banks fail due to the incompetence of their management, rather than turning them into perpetual wards of the state and sources of perpetual parasitic drain upon the taxpayers and the real and productive components of industry and commerce?

Kill the drag that is TBTF banks. It threatens the very notion of genuine capitalism.

See Iceland.

Tue, 06/19/2012 - 14:42 | Link to Comment vast-dom
vast-dom's picture

ATTENTION: all concerned parties please write to The Federal Reserve consumer complaint email and report the Federal Reserve bank for FRAUD at the following email:

 

consumerhelp@federalreserve.gov

 

This is their very own service for fraud and econ misuse for the banking sector that they themselves are bestowing fraud and misuse upon. Report them for the subversion of interest rates as determined by marketplace: ZIRP. For QE. For Hopium. For any and every valid FRAUD that The Fed has egregiously engaged in. Remember your complain is predicated upon the concept of FREE MARKETS and the very constitutionality, more at lack thereof, of The Fed.

 

PS remember, inflation targeting is illegal according to the Federal Reserve’s mandate.

Tue, 06/19/2012 - 15:55 | Link to Comment Bansters-in-my-...
Bansters-in-my- feces's picture

Hey...!!!

Ahmeexnal,stop insulting monkeys....!!!

Even monkeys are not that stupid.

Tue, 06/19/2012 - 15:01 | Link to Comment vast-dom
vast-dom's picture

...........

Tue, 06/19/2012 - 13:18 | Link to Comment evolutionx
evolutionx's picture

No Eurobonds – no euro

 

According to the EU monetary chief, the eurozone may only have a few days left to find a way out of the crisis. But economic analyst Michael Mross believes that Germany would rather let the euro die than support the idea of Eurobonds.

 

http://www.mmnews.de/index.php/english-news/8997-no-eurobonds-no-euro-

Tue, 06/19/2012 - 13:22 | Link to Comment magpie
magpie's picture

Might explain Roesler missing his ride today.

Tue, 06/19/2012 - 13:24 | Link to Comment greensnacks
greensnacks's picture

"Germany would rather let the euro die" or pillage the EU for every last cent before its partners decide Germany must go to save the euro.

Tue, 06/19/2012 - 14:28 | Link to Comment CrashisOptimistic
CrashisOptimistic's picture

So many people just do not understand that Angela "I cave often" Merkel is FAR more reluctant to do these things than her domestic opposition.

Before you applaud her election losses, keep that in mind.

If her opposition takes power in Germany, they will print the Eurobonds themselves.  They would love to print money at German expense and give it away.

She is the only thing slowing it down, and she can't do too much of that or she loses power.

Tue, 06/19/2012 - 14:37 | Link to Comment Eurodollar
Eurodollar's picture

They are definitely more in line with the french, that is for sure. All they need to do now is wait for Merkel to lose her elections. After the eurobonds are in the market the EU is heading for a fully integrated UNION no matter what the people say. Too bad it also is going to implode the whole thing too. Is Europe becoming the new Egypt? Hope not.

Tue, 06/19/2012 - 13:27 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

"No pain, all gain."

Propaganda poster in the "New World Order" Gym & Spa.

Tue, 06/19/2012 - 13:51 | Link to Comment HD
HD's picture

 I really wish I was stupid. I mean drool in a bucket oblivious to logic moron. Because this market endlessly rewards the long and strong just BTFD idiots and eviscerates anyone willing to ask questions.

I keep asking myself why do I bother...

Tue, 06/19/2012 - 13:52 | Link to Comment derek_vineyard
derek_vineyard's picture

money making strategy number 1 = go broke spending on luxuries and get bailed out

win, win

money making strategy number 2 = go against all common sense and buy leveraged stock index ETF's

Tue, 06/19/2012 - 14:15 | Link to Comment HD
HD's picture

What I like about your comment is that you can read it with or without sarcasm and it's still true.

Tue, 06/19/2012 - 15:17 | Link to Comment HarryM
HarryM's picture

Ramp up 500 on rumor so if the Fed disappoints you can drop 500 and scream -

"See what you did ??  - now the DOW dropped 500!!! - we need QE!!!!"

Tue, 06/19/2012 - 14:05 | Link to Comment noses
noses's picture

The German Verfassungsgericht again ruled that the government (i. e. Merkel and her funny dwarves) did not involve the parliament in due process for many decisions around EU financing. I guess she can't get to a fast solution without lots and lots of further talk in the Bundestag. Hopefully the common currency will implode before they even start talking and "informing" – might be cheaper for all of us.

Tue, 06/19/2012 - 13:21 | Link to Comment SeverinSlade
SeverinSlade's picture

With all of these rumors and GS pushing the new QE flow model, I'm 100% convinced that Bernanke does one of the following:

1. Allows Operation Twist to end June 30th with NO replacement program installed (as the maturity age of its bonds has exceeded the 100 month target already)
2. Extends Operation Twist by a few months (either continuing the current program or changing the maturity length of bonds it sells)

Either way the markets are primed to drop.  The bond market has been signalling disappointment for a while.  GS and others are likely selling their equity exposure into this rally.

As ZH noted earlier via Twitter, GS has been calling for imminent QE3 for a long time now.  So far they've been wrong each and every time.  With the markets barely off 4% from 2012 highs and Greece possibly forming a government, why exactly must Bernanke print? 

Tue, 06/19/2012 - 13:19 | Link to Comment Comay Mierda
Comay Mierda's picture

if you dont expect mkt ramp rumors then you are the fool

Tue, 06/19/2012 - 13:27 | Link to Comment mktfizx
mktfizx's picture

a message from our corporate sponsor

 

http://www.youtube.com/watch?v=-sQELbOflO4

Tue, 06/19/2012 - 13:19 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

"At this rate of idiocy hitting the tape, Ben better delivery tomorrow..."

We ain't seen nuttin' yet Tyler. Wait until the idiocy goes exponential.

Tue, 06/19/2012 - 13:49 | Link to Comment CPL
CPL's picture

What have we been experiencing so far?  Salvadore Dali got off the bus a year ago with the endless bond rejiging that should  have been considered criminal, but seemed like business as usual.

 

It's all so loopy...

Tue, 06/19/2012 - 13:19 | Link to Comment lizzy36
lizzy36's picture

It is insane fucking insane.

ESM is paid in over 5 years. Third and Fourth largest contributors are Italy and Spain respectively. 

Imagine how well TARP would have gone over if it was funded by the same fucking banks it was giving capital to, over a FIVE YEAR PERIOD.

Tue, 06/19/2012 - 13:23 | Link to Comment sdmjake
sdmjake's picture

"I'll take 'Asset that is no central banks liability' for $1,600, Alex..."

Tue, 06/19/2012 - 13:24 | Link to Comment SeverinSlade
SeverinSlade's picture

Didn't you know though that's precisely why gold is a risky asset because unlike US treasuries, it isn't backed by the full faith and credit of the US government.  Gold is backed by (gasp) NOTHING!

Sell it.  [/sarc]

Tue, 06/19/2012 - 13:40 | Link to Comment Uber Vandal
Uber Vandal's picture

You must have seen this "reporter" I believe.

Start at :20.

https://www.youtube.com/watch?v=1V7n3qRRM60

"Some investors aren't confident by what gold is backed by, or if its backed by anything at all as compared to something like the US dollar. Investors are comfortable that the US dollar is backed by the American government so no matter what is happening to the American economy, something like the US dollar is backed by the Federal Reserve and that will be around a year from now. That's a much more comfortable investment for them."

Tue, 06/19/2012 - 14:08 | Link to Comment CommunityStandard
CommunityStandard's picture

I can't.... I just can't even.

Tue, 06/19/2012 - 14:14 | Link to Comment Marginal Call
Marginal Call's picture

Hilarious.  But the funniest part is she's quoting some guy named Tod Hirsch (the real idiot, or hustler) and is merely having a Ron Burgundy moment.  She's doing her job of looking pretty and relaying information, while there's some guy out there in the financial world who passed this off as analysis. 

Tue, 06/19/2012 - 14:22 | Link to Comment Abraxas
Abraxas's picture

@sdmjake, I can never understand what you're writing. It's because of that damn picture. Too distracting.

Tue, 06/19/2012 - 14:41 | Link to Comment sdmjake
sdmjake's picture

"We stood before it and began to freeze inside from the exertion. We questioned the painting, berated it, made love to it, prayed to it: We called it mother, called it whore and slut, called it our beloved, called it Abraxas...." 

-Herman Hesse, Demian

Tue, 06/19/2012 - 13:23 | Link to Comment SeverinSlade
SeverinSlade's picture

Regular joes have no fucking idea the insane level of ponzi circle jerking that's going on (not only in Europe, but all over the world).

And the CNBS "experts" either are incompetent, stupid, lying, or all of the above.

Tue, 06/19/2012 - 14:13 | Link to Comment CrashisOptimistic
CrashisOptimistic's picture

Regular joes come home from work, hear a radio station's headlines (or not, maybe music), catch a moment of 6 o'clock news, and THEN THEY TUNE OUT.

The wheels are still turning only because it has become a subject of such profound fatigue that no one is aware of what is happening anymore.

Tue, 06/19/2012 - 14:19 | Link to Comment Abraxas
Abraxas's picture

I am regular Joe and I take exception to that.

Tue, 06/19/2012 - 14:20 | Link to Comment Dr. Richard Head
Dr. Richard Head's picture

I am aware of what is happening and my anus is sore.  Thanks Ben. 

Tue, 06/19/2012 - 14:10 | Link to Comment CrashisOptimistic
CrashisOptimistic's picture

liz, you make legit posts, but I gotta tell ya, from the perspective of one who understands just how shallow the male of the species is  . . . . .

if your name was lizzy56, you would not be upticked, or even read.

Tue, 06/19/2012 - 14:14 | Link to Comment John_Coltrane
John_Coltrane's picture

Well put.  Its like you write yourself a $1M check and try to deposit it and then are surprised when it doesn't clear!

Tue, 06/19/2012 - 13:22 | Link to Comment surf0766
surf0766's picture

Nice protest in Egypt. I thought it was all democratic and stuff. 

Tue, 06/19/2012 - 13:22 | Link to Comment HaroldWang
HaroldWang's picture

This ramp is all about our FED in US and the hope that something will be announced tomorrow. It will sell off rather promptly when the Fed doesn't deliver the best case scenario for the hopesters.

Tue, 06/19/2012 - 13:23 | Link to Comment slaughterer
slaughterer's picture

With ESM as a secured lender, nobody needs to own gold and silver anymore. 

Tue, 06/19/2012 - 13:23 | Link to Comment Dick Darlington
Dick Darlington's picture

Hahahahahahahahahahahaa!!! Aaahahahahahahahahahaa! (breathe) Aaahahahahahahahahahaa!!! Euro utopia turns into twilightzone! Italy, Spain, France, hell, all the insolvent countries ARE efsf and esm. Fuck i can't type coz my eyes are watering like Niagara. Uuuuuuuhhuhuhuhuhuhuhhuhhhhuuuuu! Aaaahahahahahahahaa! Ponzi circle jerk raised to the power of infinity! I wanna see how Spain, who has no money, gives ESM it's share so that ESM can buy spanish debt. Or efsf, the empty shell that has to borrow from the markets and is guaranteed by the member states, borrows from the market and buys spanish debt and spain guarantees that. And i thought i had seen it all but no.

Tue, 06/19/2012 - 13:38 | Link to Comment Howdan
Howdan's picture

You just hit the nail on the head Sir! A perfect summary of what a total and utter farce / s**tstorm this PIIGS fiasco is and how f****ing stoooooooooopid our benevolent dictators are.

How on earth are the massively indebted Spain, Italy etc. supposed to contribute money they don't have to a fund that might or might not even exist which then might or might not be used to funnel that money straight back to them in the form of a loan????

IT'S UTTER MADNESS I TELLS YA!

Oh and another thing - why do the banks keep getting billions upon billions while the ordinary pensioner/worker/taxpayer gets NOTHING?!! It's a bloody disgrace - why can't they just split the 450 Billion ESM and give every single European taxpayer say 1000 EUR each to spend (based on 450m EU taxpayers)??

Tue, 06/19/2012 - 14:02 | Link to Comment RiverRoad
RiverRoad's picture

They are far too scared of inflation to ever let people get jobs or money in their hands.

Tue, 06/19/2012 - 14:26 | Link to Comment eclectic syncretist
eclectic syncretist's picture

It's because there isn't any REAL money anymore.  The shit's all make-believe, created and destroyed at the whim of central banks for banks.  Too unfathomable and immoral for the average person to consider possible.  Truth is stranger than fiction and all that.

Tue, 06/19/2012 - 13:26 | Link to Comment asteroids
asteroids's picture

Dear Fed. You have done enough. Please please please do nothing.

Tue, 06/19/2012 - 13:27 | Link to Comment roadhazard
roadhazard's picture

Well that's mind bending enough for 2 spliff's.

Tue, 06/19/2012 - 13:27 | Link to Comment adr
adr's picture

You have entered The Full Retard Zone.

 

This is beyond insanity. Europe saying they are going to drop the rating agencies and would rather have countries rate themselves. Facebook up $5 in three days on absolutely nothing, momo stocks trading like eleventy trillion in QE has already been announced, home permits exploding while actual homes being finished has plunged, job openings dropping to the lowest levels everywhere, and social welfare shortcomings hitting trillions.

Why exactly is the market rallying in a way that makes 1999 and 2007 look tame?

Tue, 06/19/2012 - 14:05 | Link to Comment RiverRoad
RiverRoad's picture

TPTB are all buying shares in Rockerfeller & Rothschild, Inc. in a dark pool somewhere.

Tue, 06/19/2012 - 14:31 | Link to Comment eclectic syncretist
eclectic syncretist's picture

Look at the volume.  SPY could be below 100M today, meaning the advance has no legs to stand on.  Just more Fed induced hopium.

What's being overlooked is that helping the banks hasn't and isn't going to help the economy, and company profits are tanking anyway, ongoing accounting gimmicks and machinations notwithstanding.

The trip back down will be much much faster and crazier when it happens.

 

Tue, 06/19/2012 - 16:11 | Link to Comment Bansters-in-my-...
Bansters-in-my- feces's picture

adr....

Have you ever heard of "da Fed.....

There is also a little fund called the ESF that little fucking weasel timmy gets to use.

Ps....

Fuck you timmy,I know you read ZeroHedge...

So you will see my greeting.........

Tue, 06/19/2012 - 13:27 | Link to Comment Jim in MN
Jim in MN's picture

Neither a borrower nor a lender be....unless you can be BOTH!

Brilliant!

Tue, 06/19/2012 - 13:28 | Link to Comment carbonmutant
carbonmutant's picture

Is Ben going to QE the US or the EU tomorrow?

Tue, 06/19/2012 - 13:30 | Link to Comment SeverinSlade
SeverinSlade's picture

Neither.  Expect him to say "The fed is prepared to act if necessary" butttttttt, "Action is not required at this time."

Tue, 06/19/2012 - 13:36 | Link to Comment midgetrannyporn
midgetrannyporn's picture

If he says that then the maggot bankers will make sure IT IS required within the following week. Extortion bitchez!

Tue, 06/19/2012 - 13:38 | Link to Comment SeverinSlade
SeverinSlade's picture

They already are.  How much do you want to bet that GS is selling today and not buying?

Tue, 06/19/2012 - 13:46 | Link to Comment midgetrannyporn
midgetrannyporn's picture

us treasurys and student loans = welfare for the squid. why take chances?

Tue, 06/19/2012 - 13:28 | Link to Comment junkyardjack
junkyardjack's picture

That explains why the market has been trending up for the past 2 weeks...

Tue, 06/19/2012 - 13:29 | Link to Comment the not so migh...
the not so mighty maximiza's picture

Who knows which way the FED blows.

Tue, 06/19/2012 - 13:51 | Link to Comment crawldaddy
crawldaddy's picture

all we do know is that it indeed BLOWS.....

Tue, 06/19/2012 - 13:30 | Link to Comment Silversem
Silversem's picture

Dear Fed and ECB. Thanks for all your efforts. I have made shitloads of money, trading your interventions using cfd's. Keep up the good work!!

Tue, 06/19/2012 - 13:30 | Link to Comment Jim in MN
Jim in MN's picture

It's like having a circle jerk with yourself.  What's the fucking point?

Tue, 06/19/2012 - 14:23 | Link to Comment Dr. Richard Head
Dr. Richard Head's picture

Ask Octomom. 

Other than that, this fiat circle jerk is comprised of a select few, but no one invited us to this key party.

Tue, 06/19/2012 - 13:31 | Link to Comment rvremi
rvremi's picture

This ESM without the rating agencies is a fabulous idea. They can have money at 0% and give it at spain at 7%. Just a little problem there, no ? Who will give them the money ?

Tue, 06/19/2012 - 13:38 | Link to Comment firstdivision
firstdivision's picture

"Angela Merkel is poised to allow"

 

To be refuted in 5...4...3...

 

Wow, time to sell EURUSD hand over fist at this level.  I also love how the article doesn't mention any source, which means total bullshit planted story by some fund that wants to get out of some positions and short the EUR at higher levels.

Tue, 06/19/2012 - 13:36 | Link to Comment nobusiness
nobusiness's picture

Circle jerk continues.  Countries with no money fund a bailout fund which then bails them out because they have no money?????  Mean while the banks get their vig on every transaction.  No wonder the poloticians what a transaction tax.

Tue, 06/19/2012 - 13:37 | Link to Comment Silver Pullet
Silver Pullet's picture

When I was a kid back in the 60's, there was this stupid rhyme that went around:

"Chinky-chinky Chinaman sitting on a fence

Trying to make a dollar out of 15 cents"

I had no idea at the time what it meant, but I see now that if you replace the Chinese reference with pretty much any central bank or any of a variety of other references, it starts to make sense...

Tue, 06/19/2012 - 13:38 | Link to Comment midgetrannyporn
midgetrannyporn's picture

merkel sez this, dimon sez that. zzzzz...

Tue, 06/19/2012 - 13:39 | Link to Comment nobusiness
nobusiness's picture

Really raising the bar for Benny???

Tue, 06/19/2012 - 13:39 | Link to Comment SmoothCoolSmoke
SmoothCoolSmoke's picture

Even if Bernankie pulled out a gun and blew his own head off at the presser tomorrow.... the SP drops what 100?, The Dow 1000?   And we all the way back to ...................JUNE 3RD !!!!

TPTB  are MOFOs, but they have played this brilliantly i the last 2 weeks.

 

Tue, 06/19/2012 - 13:44 | Link to Comment amadeusb4
amadeusb4's picture

Markets were told that if they act now and get the S&P above 1370, then China will throw in another $100B into the ESM.

Tue, 06/19/2012 - 13:49 | Link to Comment Boilermaker
Boilermaker's picture

Absolutely fucking shocking.

Tue, 06/19/2012 - 13:55 | Link to Comment amadeusb4
amadeusb4's picture

No, everything is fine. The Russell totally belongs back at April levels. /sarc

Tue, 06/19/2012 - 13:49 | Link to Comment carbonmutant
carbonmutant's picture

Why isn't gold responding?

Tue, 06/19/2012 - 14:09 | Link to Comment RiverRoad
RiverRoad's picture

Because they're holding the price down while they buy it.

Tue, 06/19/2012 - 14:23 | Link to Comment junkyardjack
junkyardjack's picture

Because all the gold bugs already own gold, now they are staring at each other wondering when the Martians will come down to buy from them.  Doesn't matter though because no one sells gold anyway, you buy and hold forever

Tue, 06/19/2012 - 13:49 | Link to Comment Monkeyfister
Monkeyfister's picture

So, it looks like the entire European Union Project was set up to destroy Democracy.

Gosh, the Fascists are a clever, clever lot.

(puke)

Tue, 06/19/2012 - 14:20 | Link to Comment John_Coltrane
John_Coltrane's picture

Yes, that's the Fabian Socialists/Fascists dream.

Tue, 06/19/2012 - 13:54 | Link to Comment Satan
Satan's picture

Unfortunately I fear we are not even close to " full retard " yet.

Tue, 06/19/2012 - 14:29 | Link to Comment junkyardjack
junkyardjack's picture

Queue deer in headlights for shorts....

http://www.youtube.com/watch?v=_d8ROhH3_vs

Tue, 06/19/2012 - 13:56 | Link to Comment lizzy36
lizzy36's picture

Tue, 06/19/2012 - 13:58 | Link to Comment whoisjohngalt11
whoisjohngalt11's picture

How abstract can this Hopium get before the market can't buy it? How long can this Hypnosis last ,  go ask Greece, when people start starving to continue to pay for the past < overspending  they are forced to awaken..

Tue, 06/19/2012 - 14:02 | Link to Comment slaughterer
slaughterer's picture

Just one more rumor today, and we will have reached "Full Retard" cubed.  

Tue, 06/19/2012 - 14:21 | Link to Comment Marginal Call
Marginal Call's picture

 Quadtard mode ont the way.

Tue, 06/19/2012 - 14:04 | Link to Comment Silversem
Silversem's picture

Al this stuff is good for gold long term. I stick to trading gold using CFD

Tue, 06/19/2012 - 14:11 | Link to Comment RobotTrader
RobotTrader's picture

Clean breakout across the board on the index ETF's over the 50-day.

 

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=72282648

 

Yet another "Shakeout" executed by the PigMen to destroy the doom and gloom traders.

I guess there isn't going to be a "Massive Financial Collapse" after all....

 

 

Tue, 06/19/2012 - 14:12 | Link to Comment eclectic syncretist
eclectic syncretist's picture

OT - Fed and SEC now considering limiting withdrawals from money-market accounts.

From a speech by Fed Governor tarullo last week, that you can read at http://www.federalreserve.gov/newsevents/speech/tarullo20120612a.htm

"the risk of runs on money market mutual funds should be further reduced through additional measures to address the structural vulnerabilities that have persisted even after the measures taken by the SEC in 2010 to improve the resilience of those funds. The SEC is currently considering several possible reforms, including a floating net asset value, capital requirements, and restrictions on redemption"

Tue, 06/19/2012 - 14:14 | Link to Comment Tyler Durden
Tue, 06/19/2012 - 14:36 | Link to Comment eclectic syncretist
eclectic syncretist's picture

Damn, late to the party again!

Tue, 06/19/2012 - 14:36 | Link to Comment Manthong
Manthong's picture

If you are not worried about this, you should be..

 http://online.wsj.com/article/SB10001424052970204136404577207601101417664.html

Tue, 06/19/2012 - 14:21 | Link to Comment ebworthen
ebworthen's picture

"Your moneys are ours; now get back to work."

Tue, 06/19/2012 - 14:14 | Link to Comment RobotTrader
RobotTrader's picture

TLT actually still hanging in there.

 

I guess lots of guys are still expecting the "Fiscal Cliff", but the bond market is still ignoring it.

- Stocks up.

- Bonds holding.

- PM's down.

Another superb day for Ben Bernanke, the "Master and Commander"

Tue, 06/19/2012 - 14:22 | Link to Comment junkyardjack
junkyardjack's picture

Its pretty amazing that TLT is still so strong into the rally but there are tons of government shananigans going on to keep it up.  Best to dump it off for now and wait for the market to roll back over but its pretty clear where the safety assets are

Tue, 06/19/2012 - 14:44 | Link to Comment John Law Lives
John Law Lives's picture

"Another superb day for Ben Bernanke, the "Master and Commander""

That "Master and Commander" subsidized deficit spending by Congress to the tune of $6+ Trillion over the last 4+ years whilst adding around $2 Trillion to the Fed's balance sheet.  Any FOOL can pump out money like crazy and look like the good guy for a little while.  Sooner or later, the masses will realize he was a fool... just like participants here recognize fools...

Tue, 06/19/2012 - 14:49 | Link to Comment Village Smithy
Village Smithy's picture

It's easy to be "Master and Commander" when the first five names on your speed dial list are the marginal buyers/sellers of every liquid asset under the sun. "Conductor of the Manipulation Symphony Orchestra" might be more appropriate.

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