• Steve H. Hanke
    05/04/2016 - 08:00
    Authored by Steve H. Hanke of The Johns Hopkins University. Follow him on Twitter @Steve_Hanke. A few weeks ago, the Monetary Authority of Singapore (MAS) sprang a surprise. It announced that a...

ECB Issues Ultimatum To Italy, Threatens To Halt Bond Purchases

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Sat, 11/05/2011 - 16:08 | 1849089 Mike2756
Mike2756's picture

Long only cme margin trade, eh? lol.

Sat, 11/05/2011 - 21:47 | 1849691 The Big Ching-aso
The Big Ching-aso's picture

Mama Mia thatsa no apizza pie!!!

Sun, 11/06/2011 - 07:21 | 1850181 Eurodollar
Eurodollar's picture

No, it is definately not. It is just another empty threat. The ECB will have very little choice. They will keep buying into the sunset. The alternative for them as they see it is likely to be worse. If worst comes to worst (again, as they see it) it could even threaten the existance of the ECB. Let the expert game theorists figure this one out. Should be very applicable.

Sun, 11/06/2011 - 00:14 | 1849878 Buck Johnson
Buck Johnson's picture

Can't raise a measley 3 billion for the ESFS and now they are saying we will stop buying italian bonds if they can't get their country in order, yea right.  They are figuring out that the US, Germany, France, Netherlands, Luxembourg etc..  Are afraid of anyone failing because if they do, it will be worse for them than Italy or Greece or Ireland.  Because from the way things are being done, we are very close to the end of the game and they know it.  How do you explain to most of the US investors or customers who use these financial institutions for trades that they can't get their money out of it.  Even though like MF, they by law shouldn't have mingled customer accounts with the companies. 

Sat, 11/05/2011 - 16:10 | 1849093 unky
unky's picture

News from Cannes,  German newspaper is full of articles that say that france, UK and US want German gold reserves as security for the Euro rescue:





Sat, 11/05/2011 - 16:17 | 1849123 Silver Kiwi
Silver Kiwi's picture

why would the US want Germanies gold? It's a BR afterall...

Sat, 11/05/2011 - 16:23 | 1849141 TK7936
TK7936's picture

Not the US, the Banks. US President represents the Banks.

Sat, 11/05/2011 - 18:47 | 1849445 Raskolnikoff
Raskolnikoff's picture

you gotta love Barry for having the audacity to at least try to have his cake and eat it too. Let's see, gets in office with Wall Street money, tries to stay in office by organizing protests about Wall Street. Wall Streets have become pawns for the political establishment. Let's face it, the government has been calling the shots for the last five administrations. 

Sun, 11/06/2011 - 00:36 | 1849918 Bring the Gold
Bring the Gold's picture

If by government you mean the families that own the central banks then yes, if you mean some figure heads that rotate in and out of power periodically then no. Government = Central Banks (old money roth/warburg/rockefeller etc.) = Mega-Corps. People who don't understand that equation don't understand the world. There is no seperate entity that is the government. It is merely one apendage of a vast interlocking concern.

Sat, 11/05/2011 - 17:13 | 1849237 DormRoom
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If we go back to the gold standard the two most powerful organaziations on Earth will be the Vatican, and the Mormon Church.  Both hold huge amounts of undocumented gold.


For further study look @ the inflection points of when Britain & US went off the gold peg (~1932 & ~1970), and the decline of Catholic global influence.


The conspiracy theorist in me says the Vatican may be pushing internal Italian politics towards a path in which the Euro will collapse.


Also having a Mormon president will be interesting, since his loyalties are to the Church first & foremost. 

Sat, 11/05/2011 - 17:43 | 1849326 infinity8
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If it all goes back to religion in charge, I'm grabbing the next high-speed asteroid outta here.

Sat, 11/05/2011 - 17:56 | 1849348 AldousHuxley
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religion = politics = system of control of masses throughout history


Mormons....non-profit tax exempt center for your assets with BILLIONS in revenue.


and you wonder why Mormons kids are overrepresented in Harvard Business School....They got the money!

Sat, 11/05/2011 - 18:18 | 1849391 infinity8
infinity8's picture

I can't say I've known many Mormons but, the 10 or so that I have, except 1, have been very well off. And all 10 were at least 1/2 fucking crazy.

Sat, 11/05/2011 - 18:21 | 1849393 infinity8
infinity8's picture

but I think that about most people, I guess.


Sat, 11/05/2011 - 18:33 | 1849412 john39
john39's picture

Mormonism is a mix of christianity and free masonary.... Its founder, Joseph Smith was a mason and literally copied many masonic ceremonies and beliefs into mormonism.  free mansonary is also a cornerstone of the NWO.   The matrix is all encompasing, including the catholic church.  an institution of any sway is infiltrated and controlled over time.  

I know many fine upstanding mormons....  but, with respect to most of them, I can safely say that their ability to critically think about the church leadership and "conservative" political leaders has effectively been eliminated.  and that is the point afterall, you can see why that would be useful.

Sat, 11/05/2011 - 18:47 | 1849443 infinity8
infinity8's picture

serious cog-dis issues - guess that's why they seem crazy to me. The only family I've ever know that identified as masons was dirt poor and extra stupid.

Sat, 11/05/2011 - 18:54 | 1849461 Raskolnikoff
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Puh-lease, Catholic & Mormon gold will get stollen with the rest of the gold of the world by people with the bigger and better guns. LOL, in this day and age the only religion with political might is Islam. Judiaism isn't even a religion anymore, it's a social gentlemen's club by invitation only.

The first thing the Italian leader does when his economy starts to faulter and his leadership abilities start being seriously questioned is he starts ragging on the Pope and the Catholic Church. The Church as any type of political power is a big joke, especially in the United States.

when is the last time any major political figure actually took the Catholic church seriously? ....crickets, no?

Sat, 11/05/2011 - 21:54 | 1849682 nick elsworth
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duplicate post

Sat, 11/05/2011 - 21:43 | 1849683 nick elsworth
nick elsworth's picture

You might want to dig a bit into that statement.  Check out some VP links of this and past administrations for some clues.

Sun, 11/06/2011 - 00:40 | 1849923 Bring the Gold
Bring the Gold's picture

LMFAO, did you say the only religious group with political might are the muslims? Then you proceed to write off the three most powerful religious groups in the world in favor of basically a third world hodgpodge rife with interecine conflict and which stands against usury and banking? That's where the power lies? LMAO! Wow!

Sat, 11/05/2011 - 18:53 | 1849459 CH1
CH1's picture

If it all goes back to religion in charge, I'm grabbing the next high-speed asteroid outta here.

I'm sympathetic, but are we supposed to believe that having politicians in charge has been better?

Honestly, that's political propaganda, and the case for it is damn thin... aside from "everyone knows," of course.

Sat, 11/05/2011 - 20:02 | 1849539 infinity8
infinity8's picture

put the bottle down - sympathetic but what?! did I say that?! Wha. . ?! Propaganda, blah, wha?! everyone knows what?

Sun, 11/06/2011 - 19:18 | 1851453 Yamaha
Yamaha's picture

I think Tyler is a Mormon.

Long Mormons
Short Vatican.

Sat, 11/05/2011 - 22:37 | 1849754 Jonas Parker
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We're short of titanium?

Sun, 11/06/2011 - 00:44 | 1849928 UP Forester
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Tungsten.  Titanium is used in high-temp/high-strength stuff like jet engine compressor blades, tungten is wrapped in a sheet of gold foil and stacked in some Army base in Kentucky....

Sun, 11/06/2011 - 11:51 | 1850444 DeadFred
DeadFred's picture

Good, we have a strategic stockpile of this useful industrial metal and they were smart enough to disguise it as that useless relic metal.

Sat, 11/05/2011 - 21:48 | 1849693 dalkrin
dalkrin's picture

Thanks for that heads-up!  I had been following FAZ in light of the unique positions the Germans find themselves in as the Deep Pockets of last resort.  As I have studied German and spent time in Germany and Austria, I was also able to read the mood from the commentary.

Just registered and posted my first comment.  My skills were rusty, but I got across the gist of my message:  Don't trust the banks.  Both the Euro and dollar are at risk of inflation, and the currency devaluation that entails.  Best advice:  buy gold and silver, keep it to yourself.

Sat, 11/05/2011 - 16:10 | 1849097 kaiserhoff
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The Pope and the Mafia will not be amused.

Sat, 11/05/2011 - 16:52 | 1849197 pain_and_soros
pain_and_soros's picture

Anyone ever ask how much gold the Vatican has, or should I say, ever get a straight answer when they asked?

I suspect they have more gold than most imagine and perhaps more than any other "country".

Vatican to become the world's central bank?

Sat, 11/05/2011 - 16:59 | 1849213 Piranhanoia
Piranhanoia's picture

Wonder who would come to the Vatican's rescue if the Italians came knocking and said;  "hand it all over".  No one.  They would all come looking for a share.  That instantly solves Italy's issues,  screw off EU.  Italy is now the powerhouse of Europe because they have the riches from longest running looting scheme in history that they get to examine back to its dirty beginnings.

Sat, 11/05/2011 - 17:30 | 1849290 mynhair
mynhair's picture

The Vatican is a sovereign nation.  Mess with it, and the Swiss Guards will stomp yer ass.

Sat, 11/05/2011 - 18:33 | 1849415 john39
john39's picture

all 100 of them?

Sun, 11/06/2011 - 11:38 | 1850418 Bam_Man
Bam_Man's picture

100 Swiss guards with pikes versus the Italian Army.

Would be an interesting contest.

Sun, 11/06/2011 - 00:48 | 1849938 Bring the Gold
Bring the Gold's picture

A little more relevent would be the reaction of 1 BILLION + Catholics.

Sat, 11/05/2011 - 17:34 | 1849305 LongBallsShortBrains
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Got asset forfeiture?

Sat, 11/05/2011 - 18:55 | 1849462 CH1
CH1's picture

The Vatican has more friends than you would suppose. They've been playing that game for a LONG time.

Sat, 11/05/2011 - 20:11 | 1849561 bmwm395
bmwm395's picture

amen brother

Sat, 11/05/2011 - 17:09 | 1849247 CPL
CPL's picture

Usury is strictly forbidden by the Catholic church, at least at one point in time, hording however has been a many millenial long project.

Sat, 11/05/2011 - 17:26 | 1849286 TwelfthVulture
TwelfthVulture's picture

Yeah, and vows of poverty were de rigueur.  So tell me, how then did they acquire all that gold, silver, precious gems and real estate?

Sun, 11/06/2011 - 07:01 | 1850168 CPL
CPL's picture

Hoarding and whoring ideas mon ami.

Sun, 11/06/2011 - 10:28 | 1850334 Tramp Stamper
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The Crusades

Sun, 11/06/2011 - 11:56 | 1850453 Randall Cabot
Sun, 11/06/2011 - 10:09 | 1850314 Desert Irish
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double post

Sun, 11/06/2011 - 10:07 | 1850315 Desert Irish
Desert Irish's picture

The last person who tried to fuck the Vatican's finances over was hung by the neck off London's Blackfrairs Bridge by the masons...so don't underestimate them

Sat, 11/05/2011 - 16:12 | 1849102 Nate H
Nate H's picture

Could be bluff/posturing/poker by ECB. In the end there are few avenues open to them. They MUST support Italian bond mkt

Sat, 11/05/2011 - 16:17 | 1849121 Mike2756
Mike2756's picture

Worked on Greece, how much longer can they keep it up?

Sat, 11/05/2011 - 16:17 | 1849122 DeadFred
DeadFred's picture

Right, this is a bluff with no credibility. Do what I say or I'll shoot myself. Somebody supply the appropriate youtube clip.

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