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Bill Gross' Response To The Euro Summit: "Hard To Trust; Risk Off"
Bill Gross with the logical response to today's action. We would however add "farcical" to the list of adjectives, as even Pimco is quite powerless to stop a central bank juggernaut which as Spain's PM indicated earlier, is hell bent on pushing the market higher to "confirm" that the market actually likes the results of the summit, after saying that the "results of the summit will be seen in the next 24 hours." In other words, it is all about theatrics and manipulation. This probably means that it is safe to reshort the Leaning Tower of Ponzi in 24 hours and 1 minute.
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I just changed sentiment regarding the downgrades. Previously I thought there would be no downgrades. Now I think the downgrades will be this evening after 4PM. Wall St is scummy that way.
the whole nine yards?
I don't know about everything. I don't have a source on the matter.
Of course, of course! BG is just short the EURO (like everybody else?) and wants you to join him in the party...
What else did he get wrong this year?
I don't think there is much he got right this year. On another note you're looking mighty perky this morning.
Exactly. And as he says this and we all agree that the market has become one giant rigged casino, the indices continue their parabolic rise. Three weeks ago BAC was about to go sub $5 and was saved (once again).
As we continue to watch all of this in complete and utter disbelief, might I suggest a very good documentary for passing the time:
http://www.linktv.org/programs/overdrawn
As well as a call to action (this nicely complements the bank transfer day actions taken by many last month). You're mailbox and trashcan will appreciate it (although the USPS probably wont)!
https://www.optoutprescreen.com/?rf=t
OK, how did you get that picture of me without me knowing?
Sorry tyler
I had it wrong yesterday in regards to Joe Corzine.
It wasnt Goldman that told him to FOLD
But J C Flowers, the same director that hired him.
The name J C Flowers is way up in the Fed. I mean way up.
All the funds are funneled to Soros
Another Fed lovin jew.
Now you see it . Now you dont. Poof
Thats modern finance for you.
It reminds me of the way you guys mirrired all the wiki sites when Julian was on the runn.
Margin is bounced around the world in fractions of a second.
Maybe in two places at the same time.
Repo. To maturity........ No reverse repo to maturity.
Its all bull shit,
And this guy JC Flowers is from the private capital group running MF
Another future trend to watch.
Private capital dictating the terms inside a public company.
Aren't downgrades bullish?
In a way... If the Eurotards in charge can´t borrow more on the cheap (We need more debt!!! Quick!!!) for their beloved mega bail outs then it will push ECB closer to monetizing.
QUOTABLE: GERMAN CHANCELLOR ANGELA MERKEL
'I have achieved what I wanted to achieve. ... The breakthrough to a stability union has been achieved.'
sounds like a virgin after a satisfactory prima notte!
Yep, all the dirty laundry and trash is expunged safely after Friday market close to be safely forgotten and irrelevant by Monday morning.
Nah, don't forget the rumours are POSITIVE - the banks will be UPgraded at about 3:30 p.m. US time.
DavidC
You may have forgotten "/sarcasm" at the end of your post.
I just spit coffee on my screen. +1
Unless Bill Gross can feed that 2-word text "risk off" into an HFT computer bank located next to the exchange, his call is worth nothing. He does not even say why.
It's a BIG Club and Bill Gross ain't in it.
Has S&P seen enough yet ?
Talking my book " but when is the huge decline in natural gas prices reflect in those stock? Trying to trade a broken market...is a bad thing>>>ha ha
This fool should worry about managing money instead of twittering. We dont need his useless insider induced opinions.
Risk off. That's now a theme...
is that the nightly news team?
Risk off! I certainly would agree with Bill here. But, ¨Risk Off¨ should certainly include some gold, as you never know what is going to happen.
@ Momaugin, I would not trust Bill Gross whether in the Big Club or not. He´s ALWAYS talking his book.
Right, and besides gold make sure you have some nice rifles around, and back them up with plenty of ammo. All the 'other precious metals'.
Also, dont foget things like spare parts, heres a dandy armorers rebuild kit for an HK 91 for only $100. GREAT investment to me. Stock, bonds, etc, not so much.
HK91 Spare Parts Pack for HK 91 PTR91 V51 C91 SAR3 SAR8, RTG Gun Parts
+ 1
Guns with your gold is like orange juice for breakfast! A seal for a bearing!
That´s one of my priorities for 2012, beef up my gun & ammo holdings. And all the rest of it (food, water, medical supplies, etc.).
So, if you think he's talking his book (very likely, the track record supports that) - then you know what he's going to do next, and you can trade off that. It's the ones who sometimes talk their book, and sometimes don't you really can't trust - like the squid.
MCP is a great example of the the exception to the ¨trade opposite the squid rule¨. GS let theirs go at $14 at the IPO, it went up there to near $60 (IIRC), now settled back to +/- $28 last I looked.
¨... and you trade off that.¨ <--- I´ll leave THAT to you guys who know what you´re doing...
I wonder what old Bill did to get kicked out of te club?
It's his annoying voice...
He dared to liquidate US bonds.
"Woven" would sound better
Hard to trust? Impossible to trust.
'Risk off', maybe, yet indexes up over 1%, mostly just to prevent stock liquidation and runs on bank accounts today I assume.
El Erian will write an op-ed tomorrow in the FT that contradicts the twit...er, tweet.
Look at that, every paper-pushing fucknut is pushing the particular flavor of paper. Totally expected. Boring world indeed.
Cannot forget the trade deficit, which in reality widened if you compare the prior release to todays release. Ignore that the previous release was revised lower so the newer release looks like a positive.
Prior $-43.1 B
Prior Revised $-44.2 B
Consensus $-43.4 B
Consensus Range $-45.2 B to $-40.3 B
Actual $-43.5 B
nobody is listening, risk on.
yeah...that pretty much defines 'dumb money".
Didn't Goldman upgrade all European banks today? If so...all I can say is; Never has there been a clearer signal to get the fuck out of Dodge ASAMFP.
Thinking the same. Rigged casino market is programmed to rip you off.
Just a market desperately grasping at straws.
I dont buy this idea that daily the markets are 'ripping willing dupes off' every day, theyre just trying to prevent panic liquidation which would create a snowballing avalanche, and runs on bank accounts.
Desperation.
I suspect they are somewhat gaming the system.
Anyone else get a nasty virus from Turd's blog yesterday? Finally got that thing removed. I clicked on a thread about Pearl Harbor and WHAMMO!
Junked for asking if anyone had the same problem? Maybe you should go to the site and check it out. Douchebag
Its a change I've noticed in the last week or so. I believe the trolls have taken to commentless junking. I've seen several good posts recently with 2-6 junks, but no reason or reply. Its a new pattern.
wonder how the anti-gross trade is doing this year?
good day suckers.
bill gross is a whiny bitchez.
I'd love for Bill to announce that he's putting a nice chunk of his Toatal Return Fund into gold (physical of course.......)
I dont know about the rest of the class, but I'll never put 1 dollar within the reach of these corrupt criminal markets ever again, I dont care what kind of 'sure thing bet' is supposedly out there...theyve already got it front-run anyway.
Agree with Gross. For once.
Slow Euro GDP growth is not sufficient to overcome STAGGERING debt saturation problem.
http://confoundedinterest.wordpress.com/2011/12/09/europe-moves-ahead-with-fiscal-union-uk-declines-europe-buys-more-time-with-bailout-and-vague-promises-of-budget-cuts/
Goldman's well connected head of global strategy Peter Oppenheimer has this morning re-upgraded the European Banks sector having downgraded the sector just a week ago to underperform. What has inspired this remarkable U-turn by the euro-Squid? The pretext is laughably that the (already highly predictable one week ago) ECB liquidity measures trump the fact that European banks are insolvent by any normal (non-European) stress test measures. The real reason? A wall of highly profitable (for underwriters, not the mugs who subscribe) Euro bank capital raising excercises beckons. Even the shameless squid can't send its salesforce into battle to tout stocks its strategist is telling you will underperform. No doubt Peter's partners observed the downgrade with horror and he was taken aside and told in no uncertain terms to reverse the move prontissimo. Expect the European bank sector to ramp further on this specious 'liquidity problem solved' rationale into the year end and then be braced to go short in Jan just ahead of the tsunami of Goldman sponsored new bank equity hitting the market. How much will the weary institutions absorb before the sector crashes well below the 2008/9 lows carrying a raft of newly unhappy bank shareholders with it? Maybe the Arabs and the Chinese won't be fooled twice after their 2008 hosing. In my view the Euro bank sector needs at least EUR200bn of new equity capital. Hurry up Banks while stocks of gullable idiots last! First come, first served.
Remember when the US was downgraded and the answer was the SUPER COMMITTEE? Yeah that really worked out, didn't it. Or how about when the debt ceiling was raised and they guaranteed 1.3 TRILLION would be answered for by Thanksgiving? And remember how the US Government planned on cutting 2 Trillion in spending over 10 years based on an annual GDP of 6%? So now we have the same Dog and Crony show going on in Europe with nothing more then unattainable promises and false rhetoric. You see there is no solution here in America or in the EU for that matter. The only thing they got now is borrowed time, time that is running out. Simply amazing what a group of junkies will do to pass their piss test. The only thing they have going for them at this point is the sheer stupidity of the masses and their inability to digest anything but what they are being FED...
come on, Bill, get with the program, geez. debbie downer, man.
What else can you do, when the proposed solutions come up short, over and over again? It looks like the only choices being made are to either manipulate the markets, or start a new war. The results of either are questionable.
http://georgesblogforum.wordpress.com/2011/11/02/the-daily-climb-2/
bills angling for new head of the Fed. you don't want those dull bonds do you? better buy STOCKS! bill is just the jawbone of the ass.
and wouldnt you know it RISK ON...can you imagine when the euro problem will be over where the euro and market will be??? think about it....
Dow up 171. EOM.
The agreement to sign the agreement is the reason for hope . But we know it ain't gettin' signed
This is Through The Looking Glass, a world of make-believe and mirror images of reality. Now they are into Magic Money territory where anything with a negative sign can expand exponentially there is no limit to Magic Money creation so long as noone asks for collateral. The amazing Levitation Feat of the global banking system is a wonder to behold as they suck in REAL resources from households by imposing a Credit Squeeze yet wallow in a State-funded interest-free Liquidity Trap funded by taxpayers.
On the old theory that Taxpayers watch Borrowing as Future Taxes and cut back spending, they can see the Scissors Squeeze as they face Current Taxes to pay the interest bill on past Borrowing. Merkel thinks she has found a Stopcock on the leaky pipe, but forgets it is upstream of her Bundestag. Last time the Germans and French ran into the buffers of the Growth & Stabnility Pact in March 2005 they simply relaxed it.
So we are now in Phase III of this Sorry Saga - but is Merkel really going to cut Spending as Weidmann of the Bundesbank says she should ? She has a lousy record on controlling her lavish spending.