Did A Large European Bank Almost Fail Last Night?

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Wed, 11/30/2011 - 11:42 | 1930257 Josh Randall
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Wait until a big US bank almost fails EVERY NIGHT

Wed, 11/30/2011 - 11:45 | 1930278 UGrev
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The frequency in which bank failures "Almost Happen" is increasing dramatically. The ability to "save" them (if you call re-animation 'saving') is diminished just as quick. 

The charade cannot continue without total collapse of the global economy. The great reset cometh!

I have to go count my cans of beans now.. 

Wed, 11/30/2011 - 11:57 | 1930336 DormRoom
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As Tyler says, you can't solve a solvency issue with more liquidity.


The casino is still open. sit at the tables, if you want.  But once the financepocalypse occurs, and people whom were virtuous, and didn't overconsume, or overspend, discover their life savings has been wiped out by either hyperinflation, or an equities collapse, will rage.


I'm even considering getting more credit,  maxing out my credit cards, buying physical gold with the extra credit, and declaring bankruptcy to fcuk over the banks.


Governments will bail out the banks, so why be responsible about saving.





Wed, 11/30/2011 - 11:57 | 1930358 Mr Lennon Hendrix
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Did we skip the IMF funding phase or is that coming next?

If $400 billion monthly Tresurie auctions weren't already enough, and the possibility of an IMF (read US) bailout of Europe was not enough, now we have more cordinated action from Central Banks to increase liquidity (read decrease the value of fiat) to stabolize (read increase prices) so that everyone can trade their NKE shares for Nike shoes, go on their honeymoons with their dollars to Marriot in Maui, pay their bills with food stamps, and on and on.

This current way of business, at the monetary level, is not only an insuficient way of means, it is insane.  If our problem is that we need more liquidity, we must look back and see what caused the crunch.  It was easy access to debt/fiat.  It made people complacent in understanding true value; true value of goods and time.

Now our measures extend this time frame, but like a cup, our liquidity runneth over.  The policy makers will ask for a bigger straw, but this will just make the piggies fatter.  Soon the piggies will die of heart failure, and once they do, the humanity will wake up realizing that the wealth of the system was drained like the blood of a goat at the alter of the Federal Reserve.

The time is nigh for the crisis to explode.  The deflationary system many are waiting for already happened in '08.  Just because it didn't last the year doesn't mean it wasn't there.  Asset prices collapsed, and time is not a figure in monetary policy, only price.  Once price was "stabolized" the game was over.  The time is nigh for what we don't have a name for- it could be a hyperinflationary event, it could be a great rise in real goods (ie PM/oil) while the cities sleep with suger plum dreams.  It could be anything, so be ready for it.

Wed, 11/30/2011 - 12:26 | 1930563 Fukushima Sam
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Keep up the bank runz, bitchez!

Wed, 11/30/2011 - 12:42 | 1930715 Whalley World
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you mean Zombie bank runz, don't you?

Wed, 11/30/2011 - 13:15 | 1930972 trav7777
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banks can't fail...they will just borrow what they need, even from themselves.

If they don't have that kind of juice, just borrow it from their clients' sequestered accounts

Wed, 11/30/2011 - 14:58 | 1931575 He_Who Carried ...
He_Who Carried The Sun's picture

Look at the revised ratings from this week and you have the answer, a truly globally operating bank, heavily underwater: Banco Santander!

Wed, 11/30/2011 - 16:07 | 1931944 Mauibrad
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Go to Australia, young man...

Wed, 11/30/2011 - 12:33 | 1930626 Oh regional Indian
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Liquidity runneth over. Like the cup indeed LH. And handle too, while you are at it.

It really does look like the Club of Rome Global Systemic Function is either lacking enough real time data or is overloaded.

Snap, crackle, pop...etc...



Wed, 11/30/2011 - 12:41 | 1930707 old naughty
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I was pondering if I should ask which bank it was. But if the CofR is lacking data, heck, I shouldn't ask, right?

N-ever mind...consciousness keeps perma record. Some know.

Wed, 11/30/2011 - 18:21 | 1932796 terryfuckwit
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barclays did a really weird very brief downward spike bout 1pm huge drop down can still see on the graph if you look

Wed, 11/30/2011 - 11:59 | 1930365 DoChenRollingBearing
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@ DormRoom: that is the Chumbawamba approach to getting rich!

Wed, 11/30/2011 - 12:01 | 1930375 Mr Lennon Hendrix
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Do you like how Sprott went deep into silver right before the cordinated Bank funding move?  Dude is fucking savvy.

Wed, 11/30/2011 - 12:08 | 1930425 prains
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Wed, 11/30/2011 - 12:15 | 1930477 DoChenRollingBearing
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+ 1 for the Occam answer

Wed, 11/30/2011 - 12:32 | 1930607 ucsbcanuck
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Not surprised that the Kiwi saw it for what it was.

Wed, 11/30/2011 - 12:07 | 1930413 Jay Gould Esq.
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"...just how bad was the situation if the global central banking cabal had to intervene all over againand just what was not being told..."

Rest assured, one of the current dramatis personae in this long-running Euro tragedy -- Frau Merkel, Monsieur Sarkozy, or more likely, Il Cavaliere -- will pen a memoir several years from now, and we will know the answer.

Not that A), There will be any hard currency to purchase said memoir with or, B) Anyone will care in the first place; the dip having been bought, the bonuses long since paid, cashed, and spent.

Wed, 11/30/2011 - 11:45 | 1930280 EscapeKey
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They already do.

Wed, 11/30/2011 - 11:46 | 1930286 The Big Ching-aso
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I wonder which rank bank was ranked worse than the other ranked banks that rank.

Wed, 11/30/2011 - 11:52 | 1930327 hedgeless_horseman
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Dexia was ranked least rank.

Wed, 11/30/2011 - 11:54 | 1930338 GeneMarchbanks
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Matters not. In the end they'll all tank.

Wed, 11/30/2011 - 12:22 | 1930528 The Big Ching-aso
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Tanks for the memories.

Thu, 12/01/2011 - 02:38 | 1934072 Blank Reg
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That's not punny.

Wed, 11/30/2011 - 11:48 | 1930302 hack3434
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BAC has $84B in bonds maturing next year. I would say BAC IS already there... 

Wed, 11/30/2011 - 12:49 | 1930808 camaro68ss
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$84B is nothing these days. the bernake can print that in a few hours no sweet.

Wed, 11/30/2011 - 11:59 | 1930351 Mr Lennon Hendrix
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How about European banks and US banks take turns failing, because if the US and Europe collapse on the same day FX traders will collapse the currentsea market.

Tsunami, bitchez!

Wed, 11/30/2011 - 12:03 | 1930383 asteroids
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Too much credit, too much debt. No cash and a CDS bomb waiting to implode. Something very very bad is about to happen.

Wed, 11/30/2011 - 12:06 | 1930401 EscapeKey
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They will bring "Happy Days" back on TV?

Wed, 11/30/2011 - 12:13 | 1930463 Don Birnam
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"Joanie Loves Chachi."

Wed, 11/30/2011 - 12:58 | 1930886 rufusbird
Wed, 11/30/2011 - 12:10 | 1930443 xcehn
xcehn's picture

This is as LOUD as it gets as a wakeup call.  You can either hear it as TPTB have everything under control and it will all be fine OR TPTB are so pathetically desperate that this is really the last clear chance before the SHTF.  I am reading this as a loud SOS and preparing for the obvious implications.

Wed, 11/30/2011 - 19:32 | 1933070 Buck Johnson
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It sure did, and they are being extremely quiet about it also.  The don't do something like this unless a major bank is about ot go under.

Wed, 11/30/2011 - 11:42 | 1930258 HoofHearted
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Societe General? BNP? Who you got in the Dead Pool? My fiat is on SocGen.

Wed, 11/30/2011 - 11:48 | 1930273 hedgeless_horseman
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My guess is a German bank (DB?).  Maybe a warning shot for the krauts to get their prole's votes in order.


Wed, 11/30/2011 - 11:50 | 1930311 Mactheknife
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Watch the EUR/USD today. If today's move were for real it would be at 1.36. If this drops below 1.3440...short the shit out of this move.  There just isn't enough juice behind this move.

Wed, 11/30/2011 - 11:46 | 1930287 machineh
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Only Reggie Middleton knows for sure.

And he ain't talkin' until the nationalization is announced.

Meanwhile, the covert deposit runs continue ...

Wed, 11/30/2011 - 11:52 | 1930310 GeneMarchbanks
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... and have probably spread to the UK. Lloyds & HSBC ain't in Sigma X top ten for nothin'.

Wed, 11/30/2011 - 12:21 | 1930520 79
79's picture

Reggie is amazing. Only the other day I saw him stroll past my front door and shit a ton of skittles on my lawn.

Wed, 11/30/2011 - 11:43 | 1930263 Ancona
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So, what's the half life of this one? Three.....maybe four days?

Wed, 11/30/2011 - 11:50 | 1930314 CPL
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Eight central banks all printing in harmony to cover the unfunded liabilities that they've spent out of pensions?


The rest of our lives.

Wed, 11/30/2011 - 11:43 | 1930264 Clorox Cowboy
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Don't even need to read the article...the answer is almost certainly "Yes".

Wed, 11/30/2011 - 12:20 | 1930514 Clorox Cowboy
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Really...I get a junk for assuming that some bank in Europe is close to failure???  Is that you, Draghi?

Wed, 11/30/2011 - 11:44 | 1930271 GeneMarchbanks
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BNP, DB, SocGen take your pick.

Wed, 11/30/2011 - 11:45 | 1930284 hugovanderbubble
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Erste Bank

Credit Agricole

Banco Popular

MontePaschi Siena


Wed, 11/30/2011 - 11:50 | 1930313 oogs66
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Wed, 11/30/2011 - 11:53 | 1930334 hugovanderbubble
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BNP+FORTIS ten times worst than multitimes  nationalized DEXIA


KBC is the next one in belgium free falling


In Germany the big problem are the Landesbanks balance sheets....

Wed, 11/30/2011 - 11:56 | 1930350 Carlyle Groupie
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The obvious failure was at the central banks.

Add another floor to the house of cards.

Wed, 11/30/2011 - 12:11 | 1930449 Desert Irish
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West LB - currently still losing billions in their world-wide resort venture SNAFU. !9 major investments - 18 of them either went into recievership or were eventually sold for pennies. Writedowns still looming as the majority are still under recievership. The most recent was the JW Marriot Resort in Muskoka where they took a $105 million write-off in September. $80 million in hard costs with another $25 million in recievership fees - times that by 18.

Wed, 11/30/2011 - 11:47 | 1930293 GeneMarchbanks
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All that aside, this is still a massive can kicking exercise. Just keep putting out fires with flamethrowers you cockgobblers.

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