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Belgium, France, Italy, Spain Overrule European Regulator, To Impose Standalone Short-Selling Bans
Stop the presses. Barely did we have time to report that European regulators failed to impose a coordinated short selling ban, that Bloomberg reports that the countries most impact by the market plunge are about to impose standalone short-selling bans. These are Belgium, Italy, Spain and France. In other words, it really is on and the 2008 Lehman PTSD flashbacks may now resume. Until we get a headline that says it isn't. The rescue of the Borsa Italian is now more schizophrenic than that of Greece. As a reminder, in the previous post the FT quoted Abraham Lioui, a professor at the Edhec business school in France, who said “It is the worst thing to do right now. This would signal to the market there may be something fundamentally bad that is happening." He is correct. Something is fundamentally very wrong and about to break.
From the AP, google translated:
Short selling of financial stocks banned for 15 days in France
(AFP) - There are 13 minutes
PARIS - The Financial Markets Authority (AMF), Constable French stock exchange has banned short selling of financial stocks listed in France for a period of 15 days, told AFP, its president Jean-Pierre Jouyet.
"We have decided to ban short selling (...) on the actions of eleven banks and insurance companies listed on the French market, that for a period of 15 days," said Mr Jouyet.
And as a reminder, here is what happened to US financials after the September 18, 2008 SEC ban on shorting:
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stay off my tit you damn dirty ape!
LMAO
*****Economic Martial Law Will Be Declared
""it is only a matter of time before a major terror attack is executed in a major Western nation. And once it happens it will send shock waves throughout the world, leading to mass global panic and a further tightening of the noose around the necks of the populace.....""
http://seenoevilspeaknoevilhearnoevil.blogspot.com/2011/08/gerald-celent...
*****OT: The Creek...short film
Parallel to knocking your head in the Stock Market...
http://www.youtube.com/watch?v=BLRAqfN48zo&feature=feedbul
how many stupid people have signed up to read your trash?
no one wants to share information with you.
take your phishing platform and stick it up your ass!
Rich.
JW please stop working for the slavemasters. See my post above.
They never seem to understand that omitting hedging mechanisms will omit the long positions to be hedged. This is government at its finest. What a bunch of dildos.
Couldn't agree more, Ferdie, and if you're like me and feel collapse is imminent, don't despair, prepare!
http://www.collapsenet.com/262.html
But DJI will be up 800 points!
What else matters?
So...
what they are saying is....
In 15 days, all hell will break loose?
Kind of my question as well. In simple terms can no one sell then for 15 days?
I understand now
"
One of the factors that the lawyers at the SEC don’t understand is the importance short sellers play in cushioning collapses. A brief excerpt from Bailout Nation:
have you contemplated the thought that maybe they do understand? did a huge drop in 08 not give them justification for the huge bailout?
Agreed. But this time around the bucket they're using to bail out the Ttitanic is actually a colander.
Former SEC Chief Christopher Cox got that job because he has an IQ of less than his age. The man was strategically placed where he could do the most good (for anybody but the country) by doing nothing and crippling the agency from enforcing existing laws. He is the personification of the failure of government do what it is supposed to do, regulate and protect the people.
Where is he now, working for Goldman or JPM?
Now that I look back, I realize that a life predicated on being obedient and taking orders is a very comfortable life indeed. Living in such a way reduces to a minimum one's need to think.
Adolf Eichmann
yeah they are totally dumb, look at history which these a-holes seem unable to do.
whaddaya mean? When we banned short selling in this country in 2008 it was because our banks were doing swell and it was just a "confidence" issue caused facts about the shit state of U.S. financial institutions leeking out. The government is just trying to put the "con" back into confidence.
It's all good. I'm sure this will work as well as always.
not if they extend it into November as the Koreans did though right ?
no, absolutely not. i've just received notice "from my man on the inside" that they've put together a crack investigation team to "get to the bottom of this bottom." i've just recieved this secret video purporting to show its leader in action. BURN AFTER VIEWING!
http://www.youtube.com/watch?v=JmtqYAfcUFg&feature=player_detailpage
disabledvet
Thank you, thank you, thank you. It was so obvious- sitting right in front of our noses !
Clouseau has been reincarnated as our President ! Sometimes things are, indeed, hiding in plain sight.
Thanks again !
Looks like group two in the great Debt World Cup is all set.
Some interesting story lines in this bracket ...
Very Nice ... Bring on the pain
so that means we are 600 down tomorrow on black friday?
Well duh. Clearly if you ban short selling, everything can only go up.
except gold which will be beaten down by the cartel ^^
Ouch, things are not looking good on the other side of the pond. I can't imagine what an "uncoordinated effort" will look like. It was a mess when the US did it on a standalone basis...
http://www.networthprotect.com
Silver and Gold, well well. The dollar and the euro are paper-jokes. What's left to buy? Stocks? Nah, the crash can only be prevented by Ben and consort's cheap money... so well, only PM's left, bitchez
and look at Bloomberg headline towing the party line:
Aug 11, 2011 2:40 PM ET
Gold Falls Most in 7 Weeks on Stocks, MarginsYet what exactly do they mean?
June 21 $1545
June 30 $1506
July 11 $1555
July 21 $1600
Aug 1 $1620
Aug 5 $1660
Aug 9 $1740
Aug 11 $1760
I would have to say that right now semi-precious metals are in higher demand.
Copper coated lead, forged steel, etc.
pods
MEANWHILE - on the other side of the galaxy...
Market Pulse Archives
Aug. 11, 2011, 5:02 p.m. EDT
Postal Service plans to cut 120,000 jobs: reportwon't matter none of them did anything anyway.............que the benefit train
whooohoooooo
and with the lucrative buyout, annuity, paid health care in addition to medicare, thrift saving plan, and 80% retirement they will have a larger paycheck than when they were working.
Trying to slow the train down, put sand on the rail, dynamic braking, curve coming on fast, lets try this lets try that, Opps their goes Euro, we cant do this anymore.
geez, Larry Ask Moe what Curly thinks bout all this..................HIGH finance and all.....
Babe doesn't like it...not one bit!
Moe: What are you? A Democrat?
Curly: Not me! I'm a pedestrian!
Nyuk nyuk!
It is very simple, except for vanilla Mutual Funds, all other institutions don't own what they can't hedge.
The beauty about right now, is the governments attempts at containment is 1000% predictable. Only variable is timing.
Yes indeed, with the possible exception that the swings are becoming more pronounced with each passing wave as more of the the core institutions are exposed.
Bagholders needed: apply within.
they're trying to contain this? i was under the impression the ptb were creating this. as in:
"i have you now goldbug!"
"but sir...u just destroyed the city of Philadelphia!"
"ooops. i meant to do that. i mean...i didn't 'mean' it...it just kinda of, well, you know...OH LOOK OVER THERE! It's.....Studs Terkel!"
Nothing like free markets at work...
100% FUBAR.
Obviously these benevolent regulators are just trying to protect the shorts from losing money when the Fed and ECB coordinate their massive up ramp move.
But Belgium doesn't have a government.
elections were so 19th century,,,,,,,,,,all your gvt belong to us---heheh
hell who needs budgets an free markets so what the heck good is a gvt!
They never learn.
The Age of the Facepalm proceeds apace.
$5T fixes it. G-20. Bingo! Stop the presses - too funny.
I guess yall done heard Goldman has downgraded Bank of America and 19 other banks. Cowboy up fellers - the rodeo is near.
Yippe Ki Yay!!!
.............
Has it been confirmed that BAC was not allowing cash withdrawals in LA due to "system problems"? I keep seeing stuff here and there, people saying they wouldn't do cash withdrawals only deposits. Oh, and HI Miles!
I can confirm that BofA's online banking was offline for a few hours. It's back online last I tried. I'm going to try a cash withdrawal in about an hour, I fear the worst.
Good luck and please let us all know if it didn't work out! : )
and I can confirm those are big kazongas. insofar as BofA goes:
http://www.youtube.com/watch?feature=player_detailpage&v=U7wwZVB4yMI
Kali, there was a poster this morning who was saying that his accounts were not showing up at DOA, sorry, BOA online.
pods
Little John
But..... Did GOLDMAN downgrade GOLDMAN ????
Is there such a thing as financial-economic slapstick?
This would be it.
yes europe has lost it's mind. liquidity crunch + chaos volatility trade = the biggest bull traps in history will be set for suckers to buy into
BTW their reason was "market rumours"
but but but Brian said all is just dandy ?
keyboard spew.
guess he'll see lloyd in court
Did not work before. Wonder if current shorts will have to cover. I could cause a short term bounce but then there will no one to support the stocks on the way down.
Traders will buy CDS's to play the downtrend. It only keeps retail traders from shorting. Big Boys will be fine.
no they just dump cds trades i.e toxic. wait for spreads to blow out then short the dax, or ftse and/or stocks tied to finacials e.g everything else
oh its a broad ban? still won't matter
awww, you're back! i see you brought you're magic pixie dust today! meow! meow!
all you hear on the tube is "why such big swings",
TPTB need to get reddy for the next move.
guess whitch way it's going to be.
if i were to take a guess i'd say this way:
http://www.youtube.com/watch?feature=player_detailpage&v=2VSYmGSJtCA
They are just playing for time while the central banks amass gold. Everything is about buying more time.
Hmmm. Lost in translation..Nothing like the idea of all for one , one for all , eh? It's Morphed into every dying country for yourselves..
Back to normal.
good post ZH, showing the liquidation trade after the short sell ban in 2008.
I'm always naked under my shorts...when I bother to wear them...
Me only under my under shorts shorts. Would that be a double naked short?
15 days gets us to friday, aug 26 chairsatan's speech day at jackson hole.
Convinient, huh?
i hope you're an amputee i don't understand that at all chef
chef is short 10X, since yest
I'm looking around and I don't see this on Reuters, or the BBC, or the Guardian, or CNN, or . . .
I do see it mentioned as a possibility here in "El Mundo" that would apply to naked short selling. http://www.elmundo.es/elmundo/2011/08/11/economia/1313083944.html
This from FX Street http://www.fxstreet.com/news/forex-news/article.aspx?storyid=616dae21-cfd2-4d33-9f61-cd22fa4f1d89
Okay, now I've got this on France from Reuters: http://www.reuters.com/article/2011/08/11/banks-shortselling-france-idUSWEA035220110811
Are they crashing the market on purpose?
This is just stupid
Got to admire those boys, if shits doesn't work they move on to giggles...
No naked shorts?
So they are never nudes..
I hear there is literally dozens of them.
I remember that!
http://www.youtube.com/watch?v=OC7Q715LqPA
:-)
When I think of "Regulators" I'm going to start thinking abuot Tobias.
Multilingual Translation to English: "Stop trying to impose REALITY onto our failed Too Big To Fail Banks! It makes it harder, and more expensive to prop them up!"
powerless powers, command 'markets', greedy bears and fearful bulls - that is the way the devil wanted it.
Short the Bund 3...2...1
not yet verboten, not yet Kamerad.
If I could... I would short mankind and go long skynet and let myself transform to a Borg. But I just have a cheap forex trading account which does not even offer Bund.
Europe
History repeated first as tragedy, then as farce.
Napoleon
Then Hitler
then at last unity through fraudulent accounting and printing press.
Not very funny, but i have never appreciated a true farce until now. But i think you are supposed to bake or cook it too.
http://www.youtube.com/watch?v=4UjjLpLzzX8
http://www.youtube.com/watch?v=-zSRcFxZVAA
http://www.youtube.com/watch?v=mjGaqluaLdg&feature=related
Dedicated the €
http://www.youtube.com/watch?v=YZ34Ug0lj3s
I (€) give up.
http://www.youtube.com/watch?v=hQO5C4jXsVk
http://www.youtube.com/watch?v=uBwcPRbFDPI&feature=related
http://www.youtube.com/watch?feature=player_detailpage&v=yLkqVjVDO4o
"Europe
History repeated first as tragedy, then as farce.
Napoleon..."
Napoléon was the man. He pwned everyone.
this guy can read minds before they
are born. maybe?
.
voices
Thursday August 11 2:00pm
http://archive.wbai.org/
.
for fun
I propose we ban all financial masturbation - it slowly blinds players until they are unable to observe the real physical economy.
i don't know. that spread between the bid and ask is wide enough to handle pretty much every and all floor traders simultaneously. THE MONEY HOOVER IS IN DA HOUSE!
aw shucks everything is so cheep
that's why the market was up 5% 2day
Stocks can only go up regardless of the mess these countries are in? This is insane, who designed it GovtSacks?
If the short selling ban was like 10 or even 5 years ago then you could consider they may have 'forgotten' how stupid it was, but to repeat it so soon again shows what complete buffoons are in charge of the Global Financial Titanic
The "recognition" phase of a secular bear is a bitch. This is actually our 3rd such phase this grand cycle.
TPTW -- The Powers That Were
Once again the bare naked central planners demonstrate why central planning is better off left to millions of invisible hands.
More up tomorrow.
Cramer bleating on Mad Money about how today's rally was "mechanized" and done by machines only.
He's telling all "home gamers" to sell into strength, he doesn't like the market at all.
One tool-less thing he's said among few. You are one crazy arsewipe to buying with reckless abandoned here. A technician like you must know enough to let the indicators catch up.
Why would 'home gamers' continue to play in this robo market system?
Silly question... they are probably the same people that spend their pay checks on loto tickets.
Since the pols/economists that declared a ban on short selling are not total fools I can only assume that they want to crash Euro mkts and have reason to do so.
Perhaps we should consider the 'why' of this ban?
Then again, there is always the 'must be seen doing something' rational... even if it's the wrong something.
that's his job and he's done it pretty much to perfection three years now. i agree you can make a fortune "when dinosoars roam the earth." but these are meat eaters and you're the food.
Gold (and silver) through the roof?
If ever there was a huge SELL signal for financials if there was any then this is it... thank the idiots for ringing the bell at the top and be grateful and GTFO as fast as you can
We are ok in the UK.. Davis Cameron said today he will hunt down the banking looter scum and we will make them pay for their crimes, and they are shaming them by filming 100's of arrests by the BBC and showing the filthy scum going into the courts etc
Sarc? If not, please give a link...thanks
prob /s/ but true, too. snidely_w!
OT? but i put this up earlier---from pravda/english edition, via the tripoli post:
BRITAIN BURNS <i>(While the British government spends tens of millions of pounds per week bombing Libyan children, the British youth takes to the streets)</i>
here is another (more relevant) report from the same source:
Over a 1000 Arrested; Others Face Justice After Riots in England
must watch max keiser:
http://www.youtube.com/watch?feature=player_embedded&v=umJ6co__lz8
Why not just have a beauty contest instead of a stock market? Because that's all it's really become. The whole original concept of publically owned companies traded in secondary markets has been destroyed by over leverage: not in a million years would stockholders receive a penny in an actual bankruptcy or liquidation. Without the expectation of limitless Fed backing, 99% of stocks would be worth pennies. That's because there's so little organic growth left in the economy (just look at the last 4 years). So you're left with a small core of glamor stocks that don;t deliver on the promise. Already funds in Silicon Valley are drying up.
Silicon based life forms drying up.
Back to carbon...
I vote for The Swedish Chef "now you see it" ... "now you don't" sleight of hand act ... for the Talent competition.
http://www.zerohedge.com/users/swedish-chef
With no shorts, then no one will buy long and the true price of stocks will come about. This is crazy and your right, if you have to do something like this something very bad is about to break real soon.
Shouldn't they have banned the longs today? If you have to ban short selling then that tells me there is a reason for shorting. How many financially sound organizations have been shorted out of business in the history of markets. If you have solid financials then what is there to worry about. Maybe a little weakness but then that would create a bargain that the market would figure out that would lead to herd buying. I thought the markets were a discounting mechanism that leads to proper price discovery. That's what they tout in bull markets but somehow it doesn't work in down markets. Then again....maybe it is actually a discounting mechanism that leads to proper price discovery and that's what they are all afraid of. What's the old saying about the tide going out...
A Tsunami is coming back?
Solid financials? lol. The books are cooked to look solid.
Discounting mechanism = someone's got to lose in order for the big boys to win. Spreading information and creating false events is how it's done.
15 days until QE3.
There is NO Qe3.
Sell the rally, don't buy the dip.
August 26th be short or be nowhere.
I only see two choices:
1. TPTB know this will crash the markets as risk rebalances, and don't care; or
2. TPTB learned something in 2008 and the playbook has been changed.
I'm scratching my head trying to see how this could possibly end differently. Anyone have ideas?
qe 3 and 4, all at once !
no shorts...but still can't see the spread?
LOL +1 (where'd the buttons go?)
Whenever I stayed short during short selling bans I lost equity.
Regardless, can you sell their indices and buy the stocks you don't want to short?
this will expire on...august 26?
tyler! did you make this up? i called victoria powell @ e.s.m.a. and she was so ornery i hung up on her!
Back to Asia now, Europe is a basket case, China on liquidity tightening and it's pending inflation crunch/collpase. They want to push the YUAN higher against the USD peg. Sink the USD those brainacs get higher oil inflation, also inflows of capital will come to a halt re: Shanghai B index - good indicator of foreigners pulling money out of China. China will fall further into a bear market, then we wait for their housing implosion.
Don't worry bout the chinese. They are just coming back from a 300 year break to eat our lunch.
France given AAA.... im from Sweden we have AAA but our debt to GDP is 100% better (just 40%) and no gov deficit unlike France that has a 7% deficit and we actually produce stuff that others want plus we grow GDP at 5% per year. Thats just so fucking unfair and completely unreasonable because we also have our own currency(money printer).
Just to give you an idea of how unfair, we could borrow the other 40% of our GDP at a lower rate than them and hand out 110 000 usd to 20% of our population and still have no deficit and apparently keep our AAA rating.
Ah Sweden, they'll be using you as a cosigner soon enough.
Next they will ban plain selling. Only a terrorist would want to sell his shares. Are you such a terrorist?
"Something bad is about to happen."
Does he mean that stockholdrs are about to riot in Italy? Spain? Portugal?...and so on?
I REPEAT:
There is only one lesson of the past 2 years.
GOVERNMENTS WILL DO ANYTHING (including murder, Gadaffi) TO KEEP THE JUGGLED BALLS IN THE AIR AND RETAIN GOVERNMENT OFFICIALS IN THEIR POSITIONS OF POWER.
Dude, history show plainly they'll go feral before the go quietly.
Stand by.
Dupidy dupeI decree and hereby ban all transparency and any bad news on financials as well.
How am I doing?
AAA
AA+
A placebo for a cancer patient...
Insana should be keelhauled.
Ban on naked short selling. Long overdue. Includes the OTC as well. Why does that matter?
CAC up 20% tomorrow. French are going to buy shares in French companies with their baguettes tomorrow. I think I heard Carefour is offering free stock certs with every purchase of Andouille.
I don't really care what way the market goes ,as long as there is high Volatility
we are all HFT Day Traders now ;)
but I will make a prediction about the upcoming 2012 US Presidential election :
after the upcoming good-bad-ugly crash and world Recession
America's choice for 2012 President will be:
Texan Governor Rick Perry
http://www.governor.state.tx.us/
he looks a bit like Clint Eastwood or Ronald Regan and he is a Texan
and even though it does not really matter who wins, I predict that Americans will
pin all their hopes on this man from the Bush camp ;)
I don't really care how someone commments here anymore ,as long as it is entertaining or enlightening
your comment is neither ;)
oh, but you dooo care...
I bet you vote on dancing with the Stars, lol;)
I like the way you write
some people here are hypocrites, pretending they are above all forms of popular culture. Not saying you are or are not dude
Vic, of course I like Popular culture...I am a very cultured man..
I used to be a dancer with the Australian Ballet and was in plenty of Ballets and Opera's as well...
Showbiz is in my blood ;)
I just wish it payed better, lol;)
p.s. I am a German trader living in Sydney, Australia
I predicted this 2 years ago. The reason? Rick Pery is a globalist. He attended Bilderberg a few years back. He was for the trans texas corridor (NAFTA superhighway). He was for forcing school age girls to take the HPV vaccine. He was Al Gores campaign coordinator in 88. Lastly he was a freaking cheerleader in College.. (yes A&M yell leaders are still cheerleaders).
We have had other cheerleaders as presidents and they sucked too.
Anway. I believe he will be brought in as the Conservative Tea party hope. (HE IS A PHONY, he is a GLOBALSIT FUCKSTICK) who increased the size of government in Texas at a rate greater then the federal government.
Moron.
If you planned to secede from the union, what would you have done differently than Perry?
Nothing.
You are a fucking idiot.
Your implying that Perry wanted to secede and your calling me the moron?
He has done nothing to show that he is "conservative."
You dont double the size of government and government employment in 10 years and call it conservative.
You dont have the biggest land grab in texas history only to sell it to a Spanish company to build a superhighway to further benefit the deindustrilization of America and call it conservative.
You dont blame washington for doing nothing about the border while you do nothing yourself and claim to be tough on immagration while allowing sanctuary cities and in state tuition for illegals.
Debra Medina showed how much of a shill Perry is. Too bad for her she "had questions" and the other Shill Glenn Beck compared her to Hitler.
Yeah I am the idiot.
Rodent might not jump back in on your comment but let me chime in on this from the original one:
Lastly he was a freaking cheerleader in College.. (yes A&M yell leaders are still cheerleaders).
We have had other cheerleaders as presidents and they sucked too.
Great observation. Maybe 1-2% of male cheeleaders are legit, cool dudes. But the remainder are just weirdos and psychopaths. Try not to be living next door to them when they go off.