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The USD is something to pay attention to today. It will be confirmed with a break below the triangle formation on the SPX. Here is a look at the SPX, DX, and EURUSD. http://bit.ly/rPmozF
Goldman sold 5 trillion of CDS protection on sovereigns. This may be the greatest scam in the history of the world.
Step 1: Buy up soverign bonds you know are going to default and sell trillions in CDS on them at inflated prices
Step 2: Meet with your ISDA friends and decide that CDS will never trigger, thereby ensuring you will pocket the premium
Step 3: Let the pressure on soverign bonds build until you have leverage to topple every government in Europe that isn't already Goldman owned. Replace them all with former Goldman employees and cronies. Take over the ECB printer and make yourself whole on the sovereign bonds.
I don't want to overstate it, but these guys really are evil. It's like watching Palpatine and Vader at work.
ECB sterilization criticality very soon. no bathroom break for the next month, less you come back wiped out.
Given important Spanish and French auctions tomorrow ECB (who can't be seen in the primary) seems to have tried to free up some cash for banks so they can sell Italian trash today and buy SpanoFrench trash tomorrow. Very creative and of course dumb.
Now I know what it must have been like during WWI and WWII here in the UK. Germany edging closer and closer to our borders with the threat of occupation increasing week by week.
We need to role out the spitfire again and our bouncing bombs because thats all we can afford these days and fight them off!!
"..Germany therefore is willing to give up some national sovereignty" - Merkl later added "I Am Germany"
Buying paper with paper...makes perfect sense.
"Germany therefore is willing to give up some national sovereignty"
Fuck you, Angela!! You should be taking back all of your countrymen's sovereignty from the priests in Rome and Brussels!
As we await yet another dozen (cubed) rumors of bailout, the paranoia in Keynesland, the most important words to me what the Schatz Auction.
Is this merely the past tense of Scheise?
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