ECB Tells Belgium Not To Backstop Dexia Interbank Deposits, Says Bailout Plan May Be Against The Euro Charter

Tyler Durden's picture

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LawsofPhysics's picture

Should make for a good ramp into the close.

max2205's picture

Feels like 2009 mar again,,,except Obamer hasn't said buy stocks and Ben hadn't QE'd...simply amazing

jaap's picture

Brussels police kicking Spanish protest girl in the face at Dexia head office:


Lord Welligton's picture

Plaincloths psychopath by the look of it.

knukles's picture

Obama Invades Africa

WSJ just released news that US combat troops have been deployed in Central Africa to hunt down and kill leader of Lords Resistance Army.

Nice job for a Nobel Peace leauriate if one can get it.

SilverRhino's picture

I'd like to see them try to justify this one in terms of strategic interests.   Should be entertaining to see the attempted distraction.

Cash_is_Trash's picture

Belgium turned-in the ability to nationalize their banking institutions to the ECB.

Either Belgium bails out Dexia or the ECB does; either path is terrible.

DON'T SAVE IT! Let it hit the ground.

Popo's picture

so much for sovereignty.

there is really no more illusion that sovereign governments exist at a superior level to banks.

Belgium just realized who the boss was.

Cash_is_Trash's picture

Feast your eyes on how effective the control of the money supply and financial institutions is than any physical military presence.

You can say the printer is mightier than the sword, eh, Martin Luther?

jdelano's picture

rampjob started weirdly early today

HoofHearted's picture

And how in the hell is this bullish? Unless everyone is assuming the ECB will do exactly what it tells Belgium not to do??? Then, hell, buy all the ink making companies that are out there...

SheepDog-One's picture watching kids play Monopoly with no clue about any rules or anything!

Motley Fool's picture

Calvinball rules, actually.

wretch's picture

And we just watch the kids, thinking we're spectators, when we're the pieces on that gameboard.

Cash_is_Trash's picture

These Belgium politicians are just kicking the gameboard down the road.

I don't want currency collapse, I don't want depression and poverty. I rather like the idea that worthless paper can purchase the money of kings.

We'll eventually see fiat paper meltdown within a couple of years.

macholatte's picture

All the pieces are stationary, it's the board that's moving.


You can fool some of the people all of the time; you can fool all of the people some of the time, but you can never fool all of the people all of the time.

-PT Barnum




nodhannum's picture

You forgot that you can fool "enough of the people enough of the time" to get an Obummer elected!

Skid Marks's picture


On Election day, 2012 as the voting begins the ACORN & SEIU crews assists voters by giving them a ride to the polls.


Deadpool's picture

what exactly in Europes 2000 years of existance lead you to believe they know how to do economics?

kaiserhoff's picture

Well said Dead, but that was before Tyler mentioned the Luxembourg Put.  If they're in, I'm happy. 

I'm always impressed with countries I can piss across.

Libertarians for Prosperity's picture




What the fuck do you know about the topic at hand?  Anything?  Anything, at all?

Are you part of some sort of competition of who can post the most banal comments on a forum in a single day?  Unwaveringly, every day you post dozens and dozens of the most banal comments I've ever seen.

Every. fucking. day.  50 fucking times. 

Your banality is torture.



Deadpool's picture

don't Libertarians believe in freedom of speech? don't read him/her if you don't like it.

tmosley's picture

He is not a libertarian, but rather a statist nutbag who started off trolling Republicans here as "Red Neck Repugnicant", but changed his name each time he was irretrievably humiliated by liberty loving individuals such as myself to the point that he finally switched the sole focus of his entire life from trolling republicans where they don't exist to trolling libertarians.

Also note that he is a psychopathic stalker who tracked down people that worked in my lab group and tried to badmouth me to them.  Luckily he was so stupid that he picked the former member of the team who has age related dementia.  Otherwise I might have been in "trouble", lol.

Shitters_Full's picture

Um, how 'bout Libertarians for Decaf instead?

SheepDog-One's picture

Libertarians fo.... <---LOL who is this fuknut?

taraxias's picture

Brother Dog, why do you flatter him by calling him a fuknut? 

knukles's picture

Obama Invades Africa
WSJ just released piece that details US combat troops deployed to Central Africa to hunt down and kill leader of Lords Resistance Army.

Nice work for a Peace Laureate if one can get it.

nmewn's picture

"If they bring a knife, you bring a gun".

Vincent Vega's picture

I bet a SAE that when they hold the press confernece it's called a 'support role' and that they say the US isn't really involved. BTW, the leader of the Lord's Resistance Army is Joseph Kony. Kinetic action anyone?

FilbertH's picture

They told me that if I voted for McCain we would have more troops deployed in more places, and they were right.

tmosley's picture

You would remember him better with his avatar, the little yellow Hitler smiley face.

fuu's picture

He's being all stealthy.

Steel_Preacher's picture

The word of the day is BANAL, does NOT rhyme with ANAL.

Thanks for playing.

GeezerGeek's picture

To rhyme with ANAL you have to spell it BOEHNAL.

Schmuck Raker's picture
Adj. 1.

banal - repeated too often; overfamiliar through overuse.

Hmm, couldn't scrounge a thesaurus?

Lord Welligton's picture

What the fuck do you know about the topic at hand? 

Allow me hazard a guess old bean.

More than you?

BandGap's picture

You don't have to have a clue when the rules don't really matter in the first place.

There are so many things being done this days just because they "seem right" to a select few.  Question the paths taken and you will bring about the end of the world.  We're dismantleing the Constitution the same way.

Raynja's picture

I love the friday afternoon humor.

GeneMarchbanks's picture

Friday 3pm - 5pm EST is dirty laundry time. You really can't miss news items from that period.

hambone's picture

Bailing out of the bailout will require...another bailout.  Circular, globular bailouts of bailouts.  There is no refuting "it" cause nobody can even comprehend what "it" is.  BULLLISH!!!

And on this note...we will shortly take out S&P 1221 and show everybody who's bitch the "stock market" is!!!

Lord Welligton's picture

So the interbank market sizes up completely on Monday?


HoofHearted's picture

no way...there will be some sort of a bailout this weekend...Qatar putting money into Dexia or more likely the ECB buying anything that isn't nailed down because they don't even need euro notes to do so. All their electronic 1s and 0s should buy everything very nicely.

speaking of, I'm ready to issue a CDS on the ECB and the Fed. Anyone buying?

NoClueSneaker's picture


Nope - too expensive :-P


... I'd consider shorting U :-P ( Thx for spilling my cofee ... )


tmosley's picture

Too bad it wasn't a petrified dinosaur egg.

Hearst's picture

Hurled projectiles historically have always worked better than jawboning.