This page has been archived and commenting is disabled.
Der Verkauf Ist Verboten - Germany Considers Ban On Sovereign Bond Sales
When back in August, Europe declared a short selling ban of any financials (here we are willing to channel Romney, and make a $10,000 bet with anyone that said ban will never be lifted), and which as we predicted has had no favorable impact on bank stocks which have since tumbled, we suggested that the next step will also be the final one: the passage of laws prohibiting sales of any kind. As usual we were partially joking. And as so often happens, we are about to be proven right again. As the FT reports in its headline article today, whose gist is simple enough, that Europe is on the verge, it is the tactically-placed final paragraph that is of particular curiosity. It says the following: "Speaking on the fringes of a start-of-year retreat of her Christian Union lawmakers in the city of Kiel, Ms Merkel said she would consider calls from her party colleagues for legislation to bar institutional investors such as insurance companies from selling bonds when ratings were downgraded, or fell below investment grade." Allow us to recopy and repaste the key part: "legislation to bar institutional investors such as insurance companies from selling bonds."
And there you have it: after everything else has failed, the state, not the politically independent, if at least on paper central bank, is about to formally enter the capital markets. And yes, first it will be a ban of selling on downgrades, then it will be a ban of selling on any downtick, and finally it will be a ban of selling anything and everything.
Naturally, since whatever is left of the market is still oddly rational, and somewhat forward looking, those who are still foolishly long the bonds will dump them asap, before this idiotic law is passed and finally crashes the European market. Correction: the market will be there, but it will consist entirely of the ECB only buying bonds, and never selling to comply with German capital control laws. Because after all Frau Merkel has elections to consider, and it will hardly be beneficial if the Dax were to be cut in half in an election year.
We do find it odd that insurance companies are being targeted - as these, just like AIG, are being completely ignored for the time being. Perhaps not much longer, and goes back to our thesis that Allianz & Generali, aka "A&G", are about to be the European equivalent of AIG, whose demise also began with that one particular rating agency downgrade.
And for anyone who thinks this form of lunacy is limited to Germany, we have news: it isn't. With Obama facing a daunting reelection task, one can be 100% certain that this and other potential laws are being contemplated (not least of which is the one-time financial asset tax as explained here back in September), and will likely take place just as soon as QE3, which SocGen believes will begin in March, fails completely to do much if anything about the market collapse, let alone the economy, the unemployment rate, and inflation.
»
- 27702 reads
- Printer-friendly version
- Send to friend
- advertisements -
My inner self is suggesting to short EURUSD tomorrow.
My inner self want's some intel from ( SNB)!
Dog, the next two years is going to be the wildest ride of our lives !!! Got Milk ???
Nice to have you posting Hulk.
Tyler, I know, you keep an eye open and an ear to the wind, at all times...So, what you gonna do?...Use that other sixth sense and sniff the air, tell us where your headed...
I'll be waiting
Instead of this action which is stupid, EU can solve the whole problem just by banning international investor to buy and own domestic bonds. If American predators can't owned they can't crash it anytime they wanted. For i.e Spain will issue new bonds only to Spanish, Italy same only to Italian residents.... and deposit the money in ECB. They can do this with sustained low inflation. But they first have to ban technocratic Smug in Brussels.
Japanese Europe? Nice...
what?
@Pretorian: That's satire, right?
Something must be lost in translation. Kind of like the article a few months back saying the mark is coming back. For this to work it has to be immediate and secret. You can't mull this over in public.
Naked short sale bans have been in discussion among german parties for a while.... i have a feeling something was lost in translation, or merkel as usual just had no clue what she was talking about, and phrasing it wrong.
If they actually mean banning of sales...... well, then good night EU..... insta-bondmarket crash.
it will move from 'between the lines' to 'within the lines' of European legislation: Any default / collapse is forbidden. Death penalty will be re-imposed, if required.
ACHTUNG: ALLES WAS NACH SCHEITERN DER EUROPÄISCHEN PLUTOKRATIE AUSSEHEN KÖNNTE IST VERBOTEN! STRENGSTENS VERBOTEN! VERSTANDEN?
Government to the rescue! Horay.
Vee Vill not allow zee to undermine our efforts. Dis is dee plan and vee vill execute zee plan.
Agenda 21.
Ah well. Life without a fight is boring anyway right?
Bring it barack.
If you are what they got then I'll gladly play this game.
This is fucking great - by far the best price discovery 'action' so far in Euroland. Stuff you can't sell = worthless - and this move just makes official what was obvious before. No more bullshit. It's all toast. All the sovereing bonds worthless. All the banks and funds holding them worthless. I congratulate Frau Merkel on her new found realism.
The last nail in the coffin of " free markets". MF Global was the last nail in the coffin of "fair markets". I guess liberty, freedom and the "pursuit of happiness" are next on the agenda...
The right to Liberty ended with the ability of the military to indefinitly detain american citizens with no charges if suspected of terrorism. The Right to Life ended with the President gaining the power to order any American assassinated. The Pursuit of Happiness will probably be left alone, as long as drinking beer and watching football is your chosen pursuit.
"Investment" lost its meaning long ago.
...so the Neo Nazi party goes New World Order and has the nerve to use ''Christian'' in front of Conservative. The only mercy they have is for their own prophetic strong delusion. Talk about holding up the baby. http://www.youtube.com/watch?v=v4jng0ZBRUs
Guess what, Germans have a fever. They need more Cow Bell if they are gonna be Walken like a Christian. Lol http://www.youtube.com/watch?v=q4royOLtvmQ
It appears the Mayans are correct in their prediction of a world changing apocalypse and subsequently the ending of the current era on December 21 of this year. Civilisation will collapse thus beginning a new 5,126 year era.
Start spending all your money boyz and girlz, we have an end date. For the sake of the retailers, Christmas will be held on Dec 15th this year. That is all for now...
"It appears the Mayans are correct in their prediction of a world changing apocalypse and subsequently the ending of the current era on December 21 of this year. Civilisation will collapse thus beginning a new 5,126 year era."
Indeed. The only question left is why they didn't predict their own demise which happened long ago.
The Mayans did not think up these predictions they were told by their " God" he also told them that in 1590 men would apper and they would think it was the return of their God but it would not be him ,and this would mark the demise of their civilization.
So as you can see they were given good predictions , as the others were correct, so in December 21 2012 they were told it would be the end of civilization as we know it not the end of the world , and the event should happen befor the end of their calender year
BTW, it was the Olmec's calendar that the Mayans copied.
Just sayin'....
By the way, there was no year "Zero" so it is actually 2011 and the Mayan thing isn't until next year.
Seeing as Cortez landed at the fringes of Mayan territory in 1519 on his way north and east to conquer the Aztecs, that prediction was about as good as one claiming that nazis will take over the government of Germany in 2004.
Oh, wait.
What if the Spanish had been blown off course......and California had been discovered by the Chinese????
And Newfoundland and the East Coast had been discovered by Eric the Red or Leif?
Or Peter Pan?
Or the French cavemen that crossed the icepack and introduced unfluted Clovis Points to N.A.?
I always knew that a Red had to be involved in the founding of Canadia somehow. AND the US east coast.
Take a look at the chart "2012 Maturing Sovereign Debt (Cumulative)" here:
http://hussmanfunds.com/rsi/fiveglobalrisks2012.htm
WOW!
Italy is the key, and this chart shows why ECB is buying their bonds and has given up on Greece and probably Portugal.
(hat tip/ John Mauldin)
Maudlin is naive about the u.s. it's laughable to hear him state that the politicians recognize the problems and will fix it. Totally clueless ...........
I switched off Mauldin in 2005. I found he had inserted a trojan on his web page that when I put it on my Johnson caused me to actually believe we could have a 'muddle through economy'
Later, scanning my Johnson with Norton rid me of the problem.
No market muddles through, its up or down
Merkel is not that crazy. Consider this, it is just the last nail in the coffin of the periphery. Only the faintest possibility of such regulation will lower bid-to-cover and increase risk premia for periphery bond auctions to come. It may sound extreme, but I am pretty convinced Merkel has long said the EUR goodbye. Only, she cannot actively execute it with Germany having largely benefitted from the EUR project so far, being the historical advocate and mentor of the EUR project, and the best friend and neighbour in that case shot in the back. Merkel is a natural sciences PhD, she is not emotionally committed to the EUR, the analyzed the situation, pretends and extends, knowing that the problem will take care of itsself. I bet, the emerging core EUR is currently being engineered in backroom meetings, including the Netherlands, Luxemburg, Belgium, Germany, Austria and Finland. Once that is set, Sarkozy or better his Socialist successor will face facts, either agreeing to what is consensus or being crushed between Germany and Italy. Does nobody ever wonder, why the Dutch and Finnish governments have turned so quiet after being the loudest critics about six months ago?
BTW, anyone else also getting the sense, banks on the continent are currently propping up their Forex desks?
Why can't Italy and Spain default and stay in the EZ? Why do they have to leave?
How do you think did they accumulate all that debt? Hint: Has something to do with what the EMU really was meant to do and did do.
Don't confuse sovereign and corporate default, sovereigns never declare bankruptcy. Besides, the periphery would no longer have an incentive to stay.
Merkozy are running out the clock waiting for the EU to beg for the Tobin Tax.
> I am pretty convinced Merkel has long said the EUR goodbye.
+1
> Does nobody ever wonder, why the Dutch and Finnish governments have turned so quiet after being the loudest critics about six months ago?
A very good point.
Gentlemen, lets smoke a " Cigar" , and postulate our Founding Fathers?
Monica? is that you?
When will they ban the politicians?
In italy, the politicians threw up their hands, walked out and left their countrys decisions to some academic technocrats.
They didn't ban politicians. The politicians banned themselves!
Banning bonds sales??? Is this a joke? This can't really be serious can it?
does that mean they are banning themselves from issuing debt since a) they are financial institutions and b) they sell trillions of bonds every time they have a bond tender?
It'll all make more sense when they float the next trial balloon, i.e. "You can't sell....and you have to buy."
Smoking Jackets" Mandatory" >
A state judge that is very subtley racist and supports the conferderacy and works for bush's just released 200 plus prisoners. Some of them serious offenders. One was brett favres brother who got drunk and went fishing and got huge man slaughter charge on him when he wrecked and killed a friend in the passenger seat. And of course he probably gets nothing out of being brett favres brother other than a bunch of dickheads bothering him but they decided to pound his ass with a concrete hammer to appear to be tough on celebrities. Probably just another scare tactic. You need us to protect you from these criminals.
Another guy went to a park started beating up kids and families and robbing them and when the police showed up he said. It's cool I'm the thane of whiterun. Which is from the Skyrim game. So he pretty much had a full on psychotic break.
So plenty of crazy to go around.
Sounds like those dudes are totally qualified for Congress.
Merkel
Ich frage euch:
Wollt ihr das totale Verkaufsverbot? Totaler und radikaler als ihr es euch je hättet vorstellen können?
JAAAAAAAAAA!!!
Nun, Volk, steh’ auf, und Sturm, brich’ los!
O'snap, why didn't I think of this. Now there will be no mass sell off, only buying. Four More Years !
Forget sovereign bonds. Silver bitchez!
The method in their madness: cause a flight to the USD; Carribbean bank accounts already set up for them by Ben and Timmie; Merkel retires due to "sudden heart palpatations"; buys a villa in the Virgin Islands; has weekly visits with Sarkozy at his palatial spread in Martinique.
And don't forget their stint with the Carlyle group.
create panics and tensions everywhere: europa, persian gulf, south china sea, encircle russia, encircle china, create winters and springs elsewhere (arab springs, africa springs)... just stirring the world continuously, create enough chaos everywhere... to create flight of fears to the banskters robberbarrons' FRN.
It's GOD business to prosper: Guns, Oil, Drugs
Calvin (of Calvin and Hobbes) loved true and false questions because the odds against guessing right are even money on a True & False quiz, while at least four-to-one on a 4Q multiple choice.
With all the multiple choice versions surrounding financial developments, there have evolved two world positions: the pro-Fed message and the anti-Fed message, one true, one false. Fortunately, we have Zero Hedge for the true version, which makes one wonder about the motivation of those who would oppose the truth. Tyler’s preamble to the S&P’s historic European downgrade was unequivocally some of the best in identifying the euro zone experiment, even pointing out that those who support it would go so far as war to protect it. Yet, it was viciously, though incompetently, attacked here in what appeared as nothing short of planned.
The Fed’s story is that Europe is going to be fixed and, if it is not, there will be a tremendous danger of financial disaster to the world if the EZ breaks up. In short, the Fed is lying in order to downgrade the European downgrade.
The S&P got it right this time and ZH led the pack in recognizing it. On a long-term timeline, it is ZH that is wiping away the economic and political falsehoods and building up the resistance of the people to the lies, while it is the Fed’s central planning that is losing adherents, losing ground, becoming more ineffective each day as its lies depart from reality.
Frankly, if the EZ breaks, the comeback for a free enterprise system based on competitive markets of supply and demand will be overwhelming. The central planners’ EZ Plan always was to be used as a step to world government. And world government is tyranny – completely.
Western Civilization’s success record has gone too long and too far to be turned back. Yet it is the tolerance rooted in Christianity that has put America in the soup – America’s enemies within use that tolerance to tyrannize us.
The key to their tyranny is the currency. Destroy their lock on the currency and we’re free. Americans must force the Congress to take back its Constitutional mandate to coin and determine the value of the people’s money and maintain its stability as our medium of exchange. The simplicity of Ron Paul’s idea, that paper money is tyranny, is caught by the young people. The Ron Paul message is to return to liberty to the point where individual rights and self-determination, if they do not affect someone else, again are protected by the U.S. Constitution and cannot be taken away by contrived government power, such as in the Interstate Commerce Clause.
The central planners must be beaten. And they can be beaten by exposing their lies to the people and by persuading the people to rise up and beat them down.
They can be beaten because their house of cards is built on the persuasion of lies, on stories that don’t hold logic, such as their political correctness lies, polling data lies, financial lies, intolerance and minority lies, hate crime lies, media lies...and the king pin lie – evolution, that is drummed into children from first grade on to teach them to doubt the word and beliefs of their parents.
Christianity, from whose roots America grew and prospered, is the world’s most provable religion, based on historical events, reports and prophecies of people who were there and people who knew them – all uncontestable. That’s why the attacks this weekend against religion on ZH are essentially attacks on Christianity; the tenets of Christianity are contrary to what the central planners want.
In short, Western Civilization and its American Dream are contrary to what the central planners want.
It's safe to assume this group has moved past the " Political Science aspect" J.R./. I trust your tenure treated you well over the holidays?
I think I’m on to a good one, Yen. But it won’t be easy. Thanks!
Good on ya J.R.
Bonds hit the exits. Who wants to hold these turds.
How about a ban on selling stocks for less than what you bought them ?
It is cleat that intellectual bankruptcy is approaching with great speed.
Let's follow the logic, insurance companies who are required by contract to only hold certain rated bonds then cannot sell, thereby invalidating all the insurance contracts they have entered into, so everyone in Germany will not have insurance, including motor vehicle insurance, making all Germans who drive a motor vehicle criminals and subject to arrest, prosecution and jail, genius!
Nach Buchenwald, Schwein!
A treasure trove of data from the Organisation for Economic Co-operation and Development (OECD):
http://www.oecd-ilibrary.org/statistics
This one is interesting:
"OECD composite leading indicators continue pointing to slowdown in economic activity in most major economies"
http://www.oecd.org/dataoecd/61/11/49381144.pdf
R the Germans still doing the " Rub-A Dub" on Naked short selling?
mis-direction, never trust a chesty kraut toting a French poodle.
did you mean the Marky Merk and her Barky Sark?
you are correct sir, a puppy, make that 2 puppies for you.
duplicate
HEADLINE:
'ZH reports something Merkel alleged to say (that she is considering something which is clearly a sop to her party) as reported by the Ft, and lots of ZHers get over-excited'.
It's like everyone on ZH actually believes everything a politician ever says. Does no one realise she is a politician with a party to keep together and elections to win. Did Obama not promise change?
Anyways, you guys make me chuckle.
the impact of the "rumor" on the market is?
that is the point of reporting it.
Freegolder opined:
I don't think what is being expressed here is confidence in the veracity of politicians, but rather confidence in the capacity of politicians to act with utter stupidity.
I don't think we are getting excited because we think this actually going to happen. What is insane is that they would even muse about it at all, let alone put that muse out in public.
It's not that people here believe "everything a politician says"...but we do understand how those words move markets. It doesn't have to be true to move the market...it just has to be reported...and what ZH is pointing out is that this is being reported in the FT...and that will move markets. For those of us who trade daily...this information matters.
Like the banning of fin shorts, or their consideration of a different kind of political stupidity?
Ban selling anything...
food, homes, bonds, stocks, etc
Fuck it - just make selling of anything a felony punishable by indefinate imprisonment without trial due to causing terror. If you have an aquaintance that has sold something, you go to jail as well.
...the government will have the right to install peace agents and cameras in every home to ensure proper enforcement is adhered to. These agents will have the authority to grope and molest to ensure nothing is sold and provide the safety and continuity of our free and prosperous society.
-Modern 21st Century Thinking
OK Bob, I'm sold!
wouldn't that also be a ban on buying anything since an essential component of any purchase is a seller?
No. Only governments can sell.
So also, no one can sell anything to...... the government..... thus the gov also is unable to buy anything?
I guess you didn't think this trough completely.
The government never buys anything silly pants. The government only takes from the people. Governments don't provide wealth (EVER); they take it and re-redistribute it.
I was basically writing about communism using in part hyperbole (though not entirely...TSA still molests 4 year olds) for a captive flair.
Uh, so you mean government spending does not exist? Or are you saying that just because govs receive their income, from other agents, that because of this they're not really "buying"? Uh, hello.... the same applies to EVERYONE in the economy.... agent gets income from other agents, and then spend that income again on other agents....
....it's called trade, you know?
And nope, communism has nothing to do with it. Communism at its core (so, sans all the ideological crap).... simply is coordinating the economy from a macroscopic POV, while ignoring individual aspects (capitalism does the opposite: coordinating the economy on an individual basis, while ignoring the macroscopic level).
And by the way, since none of both makes any sense, none of both have ever actually existed on their own - and also will never exist.
So umm....... yeah, please wake me up when you're beyond that bogstandard holism vs. reductionism dichotomy.... and have some thoughts to offer, that deal with...... reality..... you know, that something about which you are so pissed, but which you do not dare to address (because its so much more comfortable to fix illusions:
"I'm pissed about reality.... and it's all the fault of those imaginary symbols in my head.... if we only would replace the bad illusions with my good illusions, that will totally fix reality. You know, a bit like...... religion"
Bust out the Super-Duty hairspray, comb your hair straight up, and freeze it there.
You'll catch it next time.
Government spending exists.
Let me ask....where does the government get the money to spend? They tax (by taking from people who create wealth) or they print (taxing through inflation)
The government is the chief destroyer of wealth, as it takes from those who produce and re-distributes to those who don't. Obviously there are reasons for communal tax, for example we all use roads...but what about food stamps, section 8 vouchers, free internet to the poor, socialzied medicine, corporate welfare through tax loopholes, and on and on and on.
The government can take toatalitarian control over a countires resources...read about Venezuela and how Chavez through force took over most aspects of agriculture leading to warehouses full of food rotting while at the same time having a starving populace. That's the case where the government is the SELLER, AND, TAKER
I could write a whole fucking book in response to your tripe but I just don't have the time or inclination, nor do I think it would get anywhere.
Umm, you didn't address my questions at all? All you replied was a bunch of rethorics about how government and communism is bad (which in it's pure form it is - just like pure capitalism).
You did write this:
If your book just consists of more of the same, then indeed, i "wouldn't get it".... or more precisely, would not accept it, because it would be irrelevant to my statements, which you "didn't get": Anyone can write as much as he wants, about what he perceives as bad about past and existing communist systems, as well as capitalist systems..... while not figuring out at all, that none of those systems were purely capitalist, or purely communist..... what they were, with amazing consistency, was something else: kleptocracy and ponzi.
That is your and almost everyone elses's actual enemy..... but thanks to abundant "divide and conquer"-tactics, in which you as well as a lot of other people believe, they're stuck in illusionary dichotomies.... a game of black and white, where one's own favorite white is the salvation, and one's own favorite black, is the cause of all evil..... completely ignoring, that said black and white are logically IMPOSSIBLE.
So, while you continue to look at the world one-eyed, blaming your blind eye for the obvious unfairness going on everywhere..... in the face of someone telling you, that the problem is not one of economic system, but one of what an economic system is ab(used) for..... 'xcuse me while i ignore the tool that is you, and instead spend my energy on people who at least understand the actual problems. instead of blaming them on something else, who by pure coincidence is one's own favorite illusionary enemy.
TL:DR: You're a powerless tool, and your idea of salvation, is just another safely contained layer in the matrix....because it is just another dualistic impossibility. Which is all your culture supplies you with in terms of worldviews: Impossibilities.
http://www.youtube.com/watch?v=9jK-NcRmVcw
In a way she is neutering the effect of a downgrade affecting CDS's. Which is what the Credit Rating agency's want for the TBTF Banks so they can cash in.
If Institutions cannot sell it will not trigger a downward escallation in the Bonds and will not kick in CDS's. We all know the TBTF Banks hold Trillions of CDS's on the World Economy waiting for it to collapse like 2008 so they can cash in Trillions in Insurance on their bet and scoop up all of the assets for pennies on the dollar with their loot from the insurance.
My suspicion is that the banking sector has been a net seller of CDS. Easy revenue when you control Isda.
You mean the way J. P. Morgan sold short his own bank? Nooooooo!
So basically, everyone holding sovereign debt has to be thinking ... "um i need to dump this stuff before it becomes illegal". ok so shoulda read on.
Ja , alles klaar!
They can't be that stupid. There must be a whole team of economists telling them what the consequences will be. I can't think of a better way of hastening the collapse.
This is beyond fucked-up to the Nth degree. Even a clam thinks more lucid than this.
HEIL! Merkel!
Just when you thought you'd heard it all.
Seems like an epic battle between the TBTF Banks the European Nations for World Contol. If the European Nations prevail the Banks lose, if the Banks win they control all of the European Nations thru Debt and austerity.
Makes me think about Cartoon Characters like Bat Man and all of the Evil People he was battling. Yet, as real life can be stranger than fiction we live an epic battle for total control of the world.
When Europe speaks, all we can hear are Merkel, Sarkozy, Mario and Draghi. So much for the opinions and preferences of a half billion people.
Well, I am not talking, I am writing.
Well, here's a Voice of Confidence from the capital of the first homebase of the robberbarons in the Old Continent.
Education Secretary Michael Gove has suggested the Queen should be given a new royal yacht to mark her Diamond Jubilee.
He said the Queen's "highly significant contribution" to Britain and the Commonwealth should be recognised with a "lasting legacy".
Ban selling anything...
food, homes, bonds, stocks, etc
If everyone just stopped paying their bills and everyone, including businesses stop submitting/paying their taxes.
Want a powerful message.
So I guess the Germans are not Austrians after all!
For now, a degree more than the UK/US.
The FT news is wrong, btw
So what's this all about then Tyler?
http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/9015473/UK-faces-Volcker-rule-clash.html
http://www.infowars.com/woman-put-in-jail-for-being-poor/
Same in Baltimore. Have your Tenants leave their Trash can lid off it is a $200. fine. Yes, you can go to the Kangaroo Court but in the end you walk out with a $50. fine. Same in Baltimore City. I call them the Trash patrol.
Although, I did see pictures of her property and it was unsightly and would not want her living next to me. Maybe the Neighbors could build her a big shed to store all of her stuff.
its called stop loss.
When I was I kid I used to buy lots of baseball cards thinking I'd be rich because their was a "market" for trillions of collectable cards and mathamaticly it was a cinch that any kid could make millions just collecting cardboard baseball cards. Well. Turns out you can't sell those either but it was fun for awhile. Wish I would have taken up coin collecting for my hobby instead of wasting my money on paper.
ZH better not be wrong about the translation on this. I'm curious if they translated the German themselves or have relied on some other source.
Seems too wild a claim to not get it correct. An bets on whether or not they got this rights?
Or maybe we should place bets on whether or not Merkel tells the world she was misquoted.
"Die Bundesregierung denkt nach der Herabstufung über eine Lockerung der Anlage-Vorschriften für Staatsanleihen nach. Die Kanzlerin kann sich Gesetzesänderungen vorstellen. Sie unterstützte entsprechende Vorschläge aus der Unionsfraktion. So müsse man darüber nachdenken, ob es sinnvoll sei, dass für Versicherer bei Herabstufungen der Ankauf bestimmter Staatsanleihen nicht mehr möglich sei, sagte Merkel in Kiel. "
Last sentence translated:
"One would have to think about whether it makes sense that the purchase of certain downgraded government bonds is impossible for insurers [= present situation, my words], Merkel said in Kiel."
http://www.faz.net/aktuell/wirtschaft/nach-herabstufung-von-euro-laender...
Translation. You do business in a Parking Structure? Am I correct?
@Black Forest - Thanks for the link. I assume you translated that yourself, TY for that also.
Google translates this paragraph as
Looks by this that the FT got pretty sloppy. This may all be a TOTAL NON-EVENT.
@CapitalistRock - If Merkel was misquoted it would appear to be FT's responsibility, not Tyler's.
Let me see if I understand this correctly. Someone who holds a financial asset that they should be free to sell could be committing a crime if they tried to sell it. Am I correct ?
Well if you can't sell 'em, you have to ...... give 'em away.
Makes no difference in the end. Equally worthless. Just advances the final play sooner.
German Monetary Policy: Frittering Europe into the Future
"here we are willing to channel Romney, and make a $10,000 bet with anyone that said ban will never be lifted"
tyler, i accept your bet gladly!
if the ban is lifted, i will be back to collect my $10k
if the ban is never lifted, just let me know once the agreed-upon period of "never" has expired, and i will of course pay you the $10k
i had an aquintance who settled lawsuit in nyc - the gist of was neither of them was liable to each other for anything 'from the beginning of time to the end of entenity'. i guess that pretty much covers it?? :)
I think that meas sell ASAP or be forever hosed.
If I looked up " Rubber Hammer" PUMPERS, you ass hats would be eating the seeds! Let's discuss the " stops" tomorrow morning!
Well, what does Jesus say? ...
It's open for " Interpretation"
This link takes you to a page where you can send letters to Elected Officials in the US, re NUKES
They do listen a little bit, when too many people complain they start to get worried they are going to lose their job.
Speak your Mind!
http:/www.nukepimp.blogspot.com/2012/01/petition-government-easy-way-to-write....
Mommy....
Is this what they call Central Planning...?
/nm
http://www.youtube.com/watch?v=y1nChDz6CAQ
Central Planning : +1
Freedom, economic and personal: 0
commie cartels have always ended in tears. Europe is finished, prep total and utter chaos in 3mths or less.
Didn't you catch the headlines yesterday??? War with......, I mean sanctions on, Iran were post-poned for 6 months. So, were probably looking closer to a late summer/fall collapse.
Just in time to follow our President into war.
No reason to buy bonds in the first place...obviously.
Anyone else see this?
Iran said on Saturday it had evidence Washington was behind the latest killing of one of its nuclear scientists, state television reported, at a time when tensions over the country's nuclear program have escalated to their highest level ever
"Speaking on the fringes of a start-of-year retreat..."
i think someone overheard her on the phone trying to cheer up sarko
Corzine must be laughing his head off. He front-ran Merkel.
BOOM......WINNING!!!!
Hilarious.
Yet another collapse averted by bending the rules.
Corzine, Dimon, Pandit, Blankfein must be laughing their asses off at the bears, while sipping fine whiskey in their penthouse apartments overlooking Central Park.
Sandy Weill nowhere to be found, he sold his for $88 million, he's probably skiing in Switzerland or something.
Robot I think the thing missing in your posts is acknowledgement that there probably is a hell and these people you mention all have rooms reserved. It's all a big joke to you. The kids being left in the street by their parents...is that funny too? Try not to lack a soul in your posts so much.
Aww, don't be so harsh. Trader left the /sarc off. Like old Abe said, 'If we don't laugh, we'll cry,' or some such thing. Tyler's got a great sense of humor, himself.
AWW I'm sorry Robot guy. I did not realize you could not handle a little backlash. SShhhh...Sssshhhh. It will be okay.
Sieg Heil!
Since its all German money funding the banks it's only fair
"With Obama facing a daunting reelection task..."
Daunting? Any chance of Obama losing from who? Romney? Paul? Not that Omaba is so great (to say the least) but the others simply have no chance. #ObamaLandslide2012
You see what happens when you send fucking krauts to a goddamn christian retreat?
My state has lemon laws for automobile buyers. They need to pass a lemon law for bonds and commodities.
Well, the value of something that can't be sold is zero. I guess that will be about right for your average PIIGS bond at the end of 2012, so maybe Merkel is just ahead of the curve.
buy farmland.
I'm trying to understand why anyone would junk "buy farmland"?
OT- Political Action request.
Fellow ZH'ers. It's time to see whether you are awake, or still simply chasing fiat in a system that we all know DOES NOT WORK.
My Financee was reading the news this evening, and she let me know about a new and improved piece of insanity. Exidently, in a town named Alma Center, WI (Jackson County,) a man named Brandon Zilk was arrested and is facing felony charges that amount to as much as 18 months in a Federal prison.
His heinous crime? He was playing with his children- operating a remote control car, when, through accident or design, that toy car killed a cat.
I don't know this man- but what I *do* know is that TPTB are once again working to steal a father from his children. Even if he killed the stupid cat with malice and full intent, I will not consent to see a human being imprisoned for the *ahem* "murder" of an animal. I kill every single day, through proxy, to eat meat- and most of you do as well.
I am weary, bone weary, with all of this. The people who are destroying us depend on our fear. I have, this evening, writtien the DA of Jackson Co, WI, to express my opposition to the senseless imprisionment of a man whose "crime" was to spend time with his children, and inculcate those very values which this "Christian" nation purports to hold sacred. Namely- that god itself has granted the power of dominion over all the plants and animals of the Earth to mankind.
I do not care what this man's motives were. I do not care if it was intentional, or accidental. I reserve my right, as a man, to kill any cat, at any time, for any reason- and I should not fear punishment for that. At best, it is a civic matter where a claimant can sue for recompensce of a lost pet from him.
And so, I am asking you, frankly and honestly, to write the DA of Jackon Co. WI. to demand the unconditional release of this man- Brandon Zilk. As I noted above, I do not know him, and do not care about his circumstances. I care only for freedom, and freedom is what has been under a concerted attack for years.
It only takes a minute of your time, but if you are as tired as I am- it's time to fight back, with words, at least. If you agree, please e-mail this woman: tanya.deerpalsing@da.wi.gov to demand the release of this US Citizen. The death of a cat does not justify the theft of a father from his children.
Not that surprising. In the US we have been forcing our citizens to spen 15%+ of their paychecks buying US bonds for several decades. Not only can't you sell them, you can't even cash out when they expire. You are forced to roll them over for 45-50 years.
Government debt issuance should be abolished. It's intergenerational enslavement. It's only legal on the private sector in 3rd world countries.
This couldn't possibly lead to any unintended consequences. If I'm not permitted to sell my bond why would I buy it in the first place? Freedom is on the march.... Somewhere.
Only when we all decide to stop playing the game unfortunately.