ECB Intervenes In Last Minutes Of Euro Market Trading As Italy Closes Red Once Again

Tyler Durden's picture

This aggression of a red close in the FTSE MIB will not stand man. Which is why Trichet just went ahead and sent the cavalry to buy another X billion worth of Irish 10 years to send a powerful message that European taxpayer capital will be used to purchase worthless paper that is cash flow bad, until morale improves.

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
machineh's picture

Hope he wins the Greenspan Prize that he so richly deserves.

Ghordius's picture

well, he has to work a few years more to accumulate that kind of "work"

but he has the street cred in my eyes to jack up the rates when needed

a CB chief has to be a bully or he is worthless

mantrid's picture

Note there's no tremendous rant by Germans about this printing.. I think Berlin might have agreed to these actions temporarily .. if it's aimed at merely kicking the can waiting for the Chineese to start buying.. But why isn't China buying? Perhaps they're waiting to see if Bernank starts devastations with QE3?

What was that "massive 0.23% change in the fixed overnight rate, a move that very much hurts China" for?

kind of "you start QE3, then we switch to euro bonds" deal? does it make sense?

Ghordius's picture

because "...particularly Germans will explain that the most important thing about a Central Bank is independence from politics..."

He is behaving the same way the Bundesbank would have. And Germans have learned the lesson of having politics in the CB. His moves are legit, so far. It's not what he is doing that could be dangerous to the Euro, it's the willingness to do the opposite when required which makes all the difference.

The EuroBond: the Chinese ask for it, the TBTF want it. Period. Nobody else wants it.

Shock and Aweful's picture

Does anyone have any insights on why the silver spot price has not moved like the gold spot has?

I would have thought with all the talk of QE3 and the massive intervention by the ECB and G-7 that all PM's would be moving nothward...

Are the short positions that pervasive and large that it is keeping the price surpressed....even in these conditions?

Is there a place where a person can see who is increasing or holding their short positions in Silver?  I am just curious who would be bearish on any PM in this market?

(I know this is a bit off-topic...but I have been thinking about this everytime I see another story about central bank intervention (money injections) into the markets...and keep scracthing my head as to why the price is flat or negative.

Any insights?

gangland's picture


Trichet: C'mon man, who're you gonna believe? Those guys are--we dropped off the damn money--

Sarkozy: WHAT?!

Trichet: I--the royal we, you know, the editorial--I dropped off the money...



gangland's picture


Berlusconi: There's no ransom if you don't have a fucking hostage. That's what ransom is. Those are the fucking rules.

Merkel: Zere ARE no ROOLZ!



OldTrooper's picture

Berlusconi:  Fucking worthless euro-zone with a nine-toed PIIG.

RobD's picture

Nice V shaped recovery happening in gold...the economy not so much.

bob_dabolina's picture

nice intraday head and shoulders on /hg

Drag Racer's picture

ah I get it now, I was wondering what the G7 meant by allowing the market to price rates.

Ghordius's picture

...allowing the "right" market to the "right" rates, of course.

bob_dabolina's picture

Some guy on CNBC just said major bull market in Arizona real-estate "there aren't even enough homes to sell in many areas"

d00daa's picture

hahahahahahahaha, i live in phoenix metro and have multiple real estate and mortage broker contacts.  while things have stabilized marginally over the last few months, cnbs is, unsurprisingly, full of shit.

treemagnet's picture

I learned unicorns shit skittles on CNBC the other day....always wondered.

JW n FL's picture

India owes Iran $4.8 Billion and has paid $1 Billion already..

How much Aid goes to India?

The United States has an embargo in Place??????? What the Fuck are those dirty fucking towel heads doing with our money? Giving it to Iran?


Someone with common sense needs to clear out Washington DC of ALL the Lobby Whores and Status Quo Groomed Personalities! So that America can get itself back on track.


And before everyone thinks it is JUST India! How about the Natural Gas Pipelines than go thru Turkey (coming out of Iran) that supply Europe with 40% of its Natural Gas needs?


How much International Aid is Poured into Europe?

How many U.S. Dollars have been wasted at the Euro / Dollar Swap Window trying to keep the Europeans from falling off a cliff?


The WHOLE WORLD has it hand out to the United States for International Aid and Arms!

The United States is supposed to give up 60% of its Wealth to the World so that the World will Not be as Poor as before!


“We the People” are used as Congress and the Senates Back Stop for ALL of the Credit Extended to Wall Street!


Why is America filled with Stupid / Blind People? Is it the Fluoride(s) in the Water?


The market crash! Of 25% while the economist(s) reflect on whether or not now is an appropriate time for QE – 3 at Jackson Hole!

Ghordius's picture

what the world really does not need is another idiotic comment like "...those dirty fucking towel heads...".

fuu's picture

He thinks he is being edgy.

fishface's picture

I think he's being racist

fuu's picture

"What the Fuck are those dirty fucking towel heads doing with our money?"

Gives you the vapors doesn't it.

aviat72's picture

Redneck in FL:


If you could read that page you would notice a lot of "aid" helps sell US stuff like Monsanto's seed (because of which a lot of Indian farmers commit suicide if their crops fail) and other assorted stuff and fostering "public-private" alliances. 


US does not give aid unless it helps foreign policy goals and Indian foreign policy is too independent (have you seen their voting record in the UN) to be swayed by Ben's printing press.


Do you know how much business "multinational" oil companies do with Iran in spite of the so called sanctions?


And you wonder  "Why is America filled with Stupid / Blind People?".


Pot, Kettle, Black.

OldTrooper's picture

Bonus for invoking the Dude in what would otherwise be one more report of normal central bank operations.  Those bonds really tied the room together... And these guys pissed on em...

smore's picture

Shut the fuck up, Donny.

gwar5's picture


"The currency beatings will continue until morale improves."

Bohemian Clubber's picture

I bought the dip yesterday, am doing a nice +8% on the back of BAC, now have to go back to gold bitcheZ

Fix It Again Timmy's picture

Why, Stanley, it makes perfect sense. To get out of a mess, you just continue to do the things that got you into the mess....

FeralSerf's picture

"Why is America filled with Stupid / Blind People? Is it the Fluoride(s) in the Water?"

Why are bananas curved?

luigi's picture

I Beg to differ: the Corriere della Sera says Italian Stock exchange closes positive (+0,52, yet positive...), not that it would change too much...

anony's picture

How did women, after Eve, get created?

Adam and Eve only had Cain and Abel.  Cain killed Abel so there was only the three of them and yet today we have 3.6 Billion women living and an even larger number that have 'joined the majority'?

Unless Cain had sex with his mom, there is something rotten out back in the woodshed.

And you think predicting market movements is ........WhaT?   this isn't the ATheists Board?

Sorry....go ahead, didn't mean to interrupt....

zorba THE GREEK's picture

The only buying in U.S. market today is a little bottom fishing and a lot of short covering before the Fed.

If the Fed disappoints, things could get ugly and gold will break $1800.

slaughterer's picture

If the Fed disappoints, gold could also go below $1700 again.  Do not forget the currency depreciation hedge on gold right now.  

chinawholesaler's picture

Business Gift
World Cup Products

Wholesale Tag
Silicone Products
Wholesale Massager

Wholesale Swimming Products
Wholesale Glove
China Wholesale

Giveaway Material
Wholesale Flag
Wine Set

Wholesale Ruler
Manicure Set
Wholesale Cards

Wholesale Hardware Tools
Recorder Pen
Wholesale Pedometer

CD Holde
Pen Holder
Wholesale Racks

Wholesale Furniture
Gift Box
Tape Measure

Wholesale Golf Products
Wholesale Bedding
Silicone Bakeware

Personal Safety Products
Photo Frame
Garden Decorations

Gift Box
Wholesale Clocks
Wholesale Memory Card

Wholesale Clocks
Wholesale Ashtray
Muslim Products

Silicone Products
Beauty Equipment
Wholesale Belt

Wholesale Tie
Wholesale Toys
Christmas Gifts

Wholesale Socks
Wholesale Pom Poms
Wholesale Ashtray

Wholesale Watch