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Bullish for BofA? Everybody else looks even worse?
Bank of America has more than 70.000 Mn$ in PIIGS bonds
More than 32.000 Mn Losses in Countrywide...
They need a urgent recap of 18.000 to 24.000 Mn$....
The bank is toasted...
They originally bought 800billion worth of Mozillo loans. Agent Orange strikes again and still walks.
And walk he will. His "trial" was all about double jeopardy.
The guy is the definition of organized crime.
The next time you hear about the orange-nigger will be his end -- and good riddance.
Hope you got GOLD before Benny comes out an announces his QE3, because GOLD will skyrocket once he hints it....hence why Benny Boy is being so hush hush....
The Bernank does not need to speak, he has CNBC.
No shit! Oh tell us Stevie L., what did you learn today at Jackhole? Oh, thank you Stevie for your hard hitting investigative critical reporting. We would never have known you were reading off of a Fed press release.
Clarke & Dawe explain the credit crisis in under 3 minutes:
If yesterday taught me anything, this is very, very bullish for equities.
Why wouldn`t the EUR fall if the liquidity scream is so loud?
Probably because China can't get enough of this soon to be busted currency. You know, the effect of the last and worst allocator of capital racing in to prop up their previous investment. I think they call it averaging up.
The Eurodollar is a sell, this fact notwithstanding.
You see, it's not the Euro's turn yet. We had the Budget Ceiling Show, then the Downgrade Show (over the weekend special, then the Market Response to the Downgrade Show (sequel from Downgrade Show, then the SocGen French Bank Failure Show , then the Qaddafi vs NATO REBELS/Free Libya Show and soon to come the Bernank Comedy Hour.
So, as a network provider of Goose Goose in our face mind fucking therapeutic entertainment chain transmissions, the Euro Show has been canceled until a time slot could be determined. Although, since there's been such great ratings from the Sheeple Populous, I'm not sure we'll even see even Euro Reruns.
I thought that the Euro-Crisis and the Politics Kindergarten with increasing likelyhood of a EURO-breakup is by far the biggest show in town - even more as the Ben Bernanke can print as much as he wants to save the TBTF banks but the Europeans can`t... probably the Chinese are promised to get some ports, islands and stuff like that in exchange for buying the Euro with USD. In this case it is very funny that the USD paper money is still buying some real assets via the Chinese after all...
Even some of the "longest running" features have an end date. I think it's coming too! However, for now, the "playbill" has been printed, released and distributed. So, no changes please. We have yet another PM buying opportunity.
but europe is back in the green
The Bernake will save us RISK ON
Transitory spikes. Nothing to see here, please move along....
Most governments seem intent on following the Webvan business plan - indeed, even Webvan would be around today, IF it could print money...
This is their justification for Operation Twist. But they still won't announce a LSAP
Conspiracy bitches.....I had to say that
Now on a serious note....gold and silver were pushed down for the expiry this week...the banks did not want anyone else to make money....so Friday PM´s will be going back up...yesterdays 300 point gain in the US stock market was a HFT made selling opportunity I think...get out while you can...treasuries will sell...when the Fed said no interest rates for two years....then it opened the window for banks to borrow at 0.25% and buy treasuries.....probably for the next 10 years....so that market is no longer a market....at least not for us little guys...
Europe is showing the world that gold is a reserve currency....everyone seems to want it to back up the loans to Greece......makes one wonder....when...not if
All such news is ultimately good for gold. The Fed trolls pre-announced the latest gold correction; the criminals have managed less than a 5% one. Is that the best they can do? Memo to Hugo: selectively assay the gold before it gets stowed onboard ship; be concerned if no insuror will write you a trip or contents policy; stay away from the Bermuda Triangle.
i'm not sure you really wish you had good news to report :)
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