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BBC Reports UK Bank Downgrade To Hit In 15 Minutes
From the BBC's Robert Peston
Am hearing the Moody's downgrades of UK banks likely to be at 6.30 our time, with US banks downgraded later tonight
— Robert Peston (@Peston) June 21, 2012
That is in 15 minutes. Margin Stanley to get its downgrade (most likely just two notches - horse trading works!) after US market close.
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I thought Twitter was down?
Yes but that was priced in too.
we need a proper goldilocksCrisisTM to give andgela the proper nugdies to make the proper decision to unpack her proper fudgies opon the heads of the germanPeople proper, properly
It would be nice to see SKF hit 1000 one more time....
It has to be at least 43 minutes (after US market's close), I would think. It may be scheduled for 6:30, but will be delayed till 7:00. Or not.
The entire U.K. should be downgraded to junk (they're not alone, but they and the Japanese are in rare air...or Krugman-deep holes...):
http://www.creditwritedowns.com/wp-content/uploads/2012/01/International...
http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2011...
You mean, unlike the US, with her trillions of derivative exposure and shitload of mark-to-unicorn debt-based assets? Or China with a ridiculous amount of bad debt throughout her banking system? Or Australia, who sits on a giant housing bubble? Or Spain, who is mired in depression? Or the entire Eurozone area, in fact?
We're all in this together. Although it tomorrow may be Greece who goes first, we all shall fall.
Why the misinterpretation?
I am simply highlighting that the U.K. & Japan are the most inkrugmaned (i.e. indebted) sovereigns based on offically published data (which we know understates the real level of inkrugmanedness by orders of magnitude).
"Inkrugmaned" - I like it. Perhaps we can get it properly defined in the urban dictionary as "being violently raped by a third party while being told that it is good for you".
Actually, why there are no ratings on capitalism as a whole? Does not compute?
It's so funny with all that is happening in the EU, we don't hear anything about the UK. And the UK is very very lax in their banking institutions (so they could use fraud).
'Tis the crux of the matter, the fly in the ointment, and the thorn in the side, if you will, regarding the spat between Cameron & Merkel.
The UK, much like the U.S., only more so (London's toxic financial repositories represent a greater % of Britain's grossly inflated GDP than even New York City's septic TBTF bankster buddies of the NYFRB and the whores on Wall Street), needs increasingly larger inflows of monies in order to keep subsidizing and keep afloat their banking/financial sector.
This is why Britain & Germany are at odds that can't be reconciled. Germany makes and exports things such as BMWs and advanced optics, which the world craves, meaning the design and fabrication of these products leads to net positive wealth creation, while the British (much like New York City's septic TBTF bankster buddies of the NYFRB and the whores on Wall Street) 'makes' financial products that by their very nature are designed to escheat wealth and shift money from one pocket to another, with the end result being the destruction of value.
Someone has to fund plug the constant holes created by UK financial/banking sector in order for the Ponzi to play on, and the U.S. and Britain are doing their best to demonize Merkel and the Germans (as well as other northern europeans) because they need the savings (current and future) of Germans to plug the balance sheet holes in London & New York.
It's B A C K
Ah, yes, it's the return of the Rumorverse. How we did ever survive without it?
I can't wait!! Filling my vapor pipe with 16mg of nictine
I am with ya, I am filling my bon.............uh, water pipe, with some dank wee.............uh, tobacco waiting for this one!
pods
i'm working my way up a centerfold's leg; she's french!
bong-ho, BiCheZ! hard alee!
Already there . . .
Man, now its funny . . .
little black swans are the big bird's shadow......growing......darker..........
In 5......4.......3......2.......
More good news for the fiat crack addicts. Personally I boot the fiat for a more intense high. Others snort. Still others stuff it up their as....er.....never mind.
Nothing falls faster than gold. Banks will be fine. Gold will be cheap.
Why is gold down 40$?
Big difference between physical and paper, but in a nutshell, no crack for the addicts.
Yeah, like I am going to show a real time quote to my coin dealer to try and rip him off of another 50 bucks!
Bad enough job for him as it is. Handing out all those coins for fiat, I could never do it.
I am just happy that there is a place where I can go and still get gold for fiat. I ain't going to push my luck.
Have always loved the cases of old numismatics too. Too steep a markup for most of them, but they are really nice to look at.
Who knows, maybe Mrs. pods will find a Lucky Angel under the tree this year?
pods
Is now a good time to buy gold and silver?
Depends on what you are buying it for. For an investment, who knows.
For tradition (security), whenever I have extra fiats around I pick some up.
pods
Big difference between physical and paper?
http://www.monex.com/liveprices
If you hurry, you can buy some physical at the price shown.
No QE, no QEEEEEEEEEEEEE
...to provide an opportunity to BTFD, or not.
Man silver is getting KILLED. -$1.53 so far .... just another chance to crush the metal. Oh well. It will bounce back.
I am fighting a strong Pavlovian urge to salivate.
Just hope there will still be physical out there before it's possession will be outlawed...
I just hope it stays down all weekend. I won't have any more worthless paper 'til Monday.
Oh, and bounce back? It's gonna go into orbit sooner than we think.
You forgot /sarc
I was not being sarcastic. Banks run the world. Gold is crashing. Most banks went bankrupt a few years ago, all but two of them are still in business. Not one head of those banks has lost a penny. Most of them actually made a fortune destroying the global financial system because no politician on earth has balls. And gold is crashing because ... well, for no reason but it is crashing. Not an ounce of sarcasm, just facts.
You should just sell all of yours now before it hits $0.
$0 is unlikely ... but I don't make predictions (except that banks cannot fail).
Banks fail all the time. http://www.fdic.gov/bank/individual/failed/banklist.html
I am not talking about the small banks that no one cares about. I am talking about the real big banks that are run by morons, that put the entire global financial system in jeopardy that are insolvent but that never fail.
awaiting the further hammering on gold price to collect more :) will love to see the narrow window coming :)
meanwhile GoldCore just posted here at ZH: Russia Buys 0.5 Million Ounces and Bank of Korea “Needs To Buy More” Gold
http://www.zerohedge.com/contributed/2012-06-21/russia-buys-05-million-o...
are they the dumb nations?and there goes gold and silver into the trash bin because up is down and banks getting downgraded is good for their saviours (Fed).
that you need to take down your ' blog '."
http://hartzman.blogspot.com/2012/06/hey-george-i-have-been-instructed-to.html
I am running out of time Tyler.
Please help.
Banks are selling their commodities to cover their collateral calls on the downgrades today.
selling the only assets with value
European banks owning real assets as part of their 1% ECB reserve requirement?
lol
European banks receiving collateral calls?
rotflmao
From who?
crying
Sell the news???
BTFD
let me guess, they'll say its all triple AAA - thats AAAAAAAAA
Euro is saved!
markets will soar on more bad news or is it bad news,only your bankster knows for sure!
Goddamnit! And I have NO popcorn on hand.
Wait. I hate popcorn, anyway.
Carry on.
So will this trigger the second twitter outage?
So who are the people who get all this insider info and get to trade it before everyone else?
Wait. Rating agencies are still making noise?
Does anyone even care about these fucks anymore?
Wake me up when they've downgraded the US to junk.
would you like a call or a nudge?
The crecit rating agencies lost their credibity a long time ago.
Moody's downgrades are serious for financial firms.
So if this doesn't heappen will gold and silver forget why they plunged and not recover? How interesting...
Moody's is running late with their downgrades in the last few months.
oh well! at least the owners' back is lO^Ofah'd...
Yeah, but they did fill out their SEC paperwork correctly.
I bets its like Trading Places. They paperclip a dollar at the top.
Haven't seen any rise in lease rates, either in gold or silver leases, even with these price corrections occurring during London trading hours. Somebody is leasing the farm.
What is this? They are going against the Holy Banksters in London and New York?! Something bad must be really going on behind the scenes...
See, that's what confuses me too. It seems like there are two huge entities fighting over dominance, but I can never distinguish which one's which. Or is it all just one big entity gobbling up everything?
Another rumour, and this time I know this one will fix the banking system once and for all. S&P are going to down grade the banks, but they can get their ratings if both sides of the Atlantic move to the Amero ...remember that? This time it will work because this time is different.
it's 13:40 ... where's the announcement?
I'd be lying if I didn't say I get scared, in such times I blast reggae and prepare food...
So Moody's MS downgrade tonight? Bet they go 2 because if they go 3 we probably are looking at the next Lehman.
Preston's a wanker. Preston's a wanker.
No announcement yet?
Oh well, I thought downgrades were illegal now anyway.
Moody's hired Obama to hand deliver the announcement, we can expect it by 8:00 pm GMT
Which actually means 8:30.
BOOOOOOMMMM! Twitter down again!
Ok it's back..... Looks like the collapse will be twittervised.
Moody's to banks: "You are all insolvent."
My Life As A Jawboner
"HIGHLIGHTS-Bank of Canada's Carney speaks in Halifax
54 minutes ago by Thomson Reuters
June 21 (Reuters) - Below are key quotes from an appearance by Bank of Canada Governor Mark Carney in Halifax, Nova Scotia:
ON THE EUROPEAN DEBT CRISIS
"This is our problem too, we're in an open global system. We felt the implications of what was going on in Europe. Over the course of the last four years we've had ebbs and flows of this, and we've felt it from time to time. I know from speaking to a number of business people here, even over the last 24 hours, it comes up as a major issue in people's decision making, the uncertainty there, and we certainly have a risk of financial spillovers if things were not to evolve as they should."
"So the question is how to most constructively play a role and sometimes the best way to play a role is to push and put hard truths to your friends and help them recognize the scale of the problem and what needs to be done. At the same time, we're working to objectively help devise some solutions, both in the short and longer term, through a variety of channels. The central bank channel is a very objective, evidence-based, even-keeled set of discussion, as you would expect. We have very intense financial cooperation with the Europeans, including major swap lines between the Bank of Canada and the European Central Bank, which could help provide liquidity and other things if that was necessary."
ON EUROPEAN LEADERSHIP
"We are encouraged, I am encouraged, by the seriousness with which European leaders are taking the situation. The scale of potential measures that are under consideration, the increased understanding of the timeline and underlying drivers of the issue and one just has to recognize that we're dealing with 17 sovereign nations who are making very, very big decisions in a very short period of time. So I'll leave it at that."
"It's a mistake to underestimate the resolve of European leaders to address these issues."
ON FLEXIBILITY IN THE EU:
"A number of these economies have to get much more flexible, even more open, because they're going to be in a system, even if with some form of fiscal union where they have to make the kind of adjustments that are made every day here in Atlantic Canada, northern Canada and Western Canada in order to rebalance our economy, because productivity rates are shifting all the time in our economy as well. And so there's got to be a reaction to that, and that's what you'll need to see in Europe as well. And without changing the institutional structure there they won't be as flexible as they need to be."
ON AN EU BANKING UNION:
"I think that in order to have, and I'm not alone in this, it is a view that would be shared by most of if not all of the principals in Europe, by which I mean heads of state and central bankers, that to have a durable monetary union it does require first a banking union, which is what's being discussed right now. That's necessary."
ON AN EU FISCAL UNION:
"It will likely require some form of fiscal union, but it's impossible politically, or inappropriate politically to have a form of fiscal union by the back door. That requires the political imprimatur and the clear political decision in order to build that fiscal union."
"And part of what is so challenging and difficult about the adjustment, it's not the will to do that, but it's the sequencing of these various measures."
ON QUANTITATIVE EASING:
"I would say that the evidence from the U.S., the evidence from the U.K., to some extent from Switzerland where they've done in it in a slightly different way but the same concept, has been that these policies are effective. They do provide additional stimulus. Calibration is always an issue and in the fullness of time one always has to look at exit issues as well. But they are effective."
MIB have entered Moody's offices and have fixed the issue. Nothing to see here. Move along.
His 15 minutes of shame are up.
Where are the downgrades?
Did the family dog eat them?
Oh shit-t.
The 'Grauniad' Has a live thingy:
http://www.guardian.co.uk/business/2012/jun/21/eurozone-crisis-live-span...
Popcorn etc...
Looks like he was shot dead
Looks like Moody's might be Twitter dependent...
Any minute now....
hey wanker! dont quit your day job mate!
Perhaps it has to do with you-know-whos favorite planet entering the Jaws of Fate tomorrow...
Moody's: WE AIN'T THE BANKSTER'S BITCHEZ NOMO BITCHEZ! ;(but really we still are;)
hmmm. should i pick up another 100oz. Ag on today's firesale?
stack's getting heavy.
Robert Peston. Must of needed to sell some puts.
Must have been told to wait for US market to close lest -200 become -500.
If I'm late, start without me....
C'mon big boys, take Au down to $250, again...
Moody's expected to downgrade U.K. banks: reports
June 21, 2012
Source: Market Watch
Moody's Investors Service is readying a downgrade for British banks, according to media reports Thursday.
Barclays PLC, HSBC Holdings PLC and Royal Bank of Scotland Group PLC are expected to come under creditworthiness scrutiny as early as this evening London time, according to the reports. Moody's has already downgraded major financial institutions in Spain and Italy and the move comes as European markets are on edge over an expected report from an independent auditor detailing the health of the Spanish banking sector.
http://www.blacklistednews.com/Moody%27s_expected_to_downgrade_U.K._banks%3A_reports/20124/0/0/0/Y/M.html
Bugger! It's 8pm already, I must have missed it. What did Moodys say? Anything interesting?
bbc= mi6
bbc robert peston double agent mi6 and mossad via rupert murdoch pay off's
peston is part of the cameron and gay william hague fellating country supper club.
listen to his words then ask what is the angle and what do the lies mean.