Emergency Meetings Galore: ECB To Hold Crisis Conference Sunday, G20 To Hold Call At 2230 GMT Tonight

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Sat, 08/06/2011 - 13:46 | 1531025 papaswamp
papaswamp's picture

Panic Bitchez!!!!!!....crap we're on fire...arrrrghhh!

Sat, 08/06/2011 - 14:03 | 1531124 Ahmeexnal
Ahmeexnal's picture

 

die Scheiße hat der Lüfter getroffen

 

Sat, 08/06/2011 - 14:12 | 1531176 Black Forest
Black Forest's picture

die Scheiße hat den Lüfter getroffen

Excellent!

 

Sat, 08/06/2011 - 14:21 | 1531217 margaris
margaris's picture

Not necessarily..

What he said could be translated as TFHS.

The Fan hit the Shit!

...which is equally messy..... or wait....

Sat, 08/06/2011 - 16:22 | 1531524 Manthong
Manthong's picture

I heard that Mexico is now building fences to keep poor refugee Americans out.

Sat, 08/06/2011 - 16:52 | 1531608 DoChenRollingBearing
DoChenRollingBearing's picture

Imagine that.  May have to bribe the MEXICAN Border Guards to let us in...

Once in Mexico, it's easier to get to South America if Team USA locks down.

Sat, 08/06/2011 - 18:20 | 1531623 Manthong
Manthong's picture

This one deserves a thread of it's own:

http://www.theblaze.com/stories/pretty-darned-f-cked-former-obama-econ-chair-talks-downgrade-with-bill-maher/

And.. "like a seventh grade boy" has meaning on so many levels.

 

Sat, 08/06/2011 - 14:32 | 1531255 LetThemEatCake
LetThemEatCake's picture

Ja, mein Herr, das hat sie!

+100

Sat, 08/06/2011 - 18:51 | 1531862 IQ 145
IQ 145's picture

If this sort of thing continues, high officials will be missing their golf dates, and dinner with the mistress, on the weekends; personally, I wouldn't put up with that kind of shit.

Sat, 08/06/2011 - 13:47 | 1531026 mynhair
mynhair's picture

Very bullish.....for tradition.

Sat, 08/06/2011 - 13:47 | 1531033 BrianOFlanagan
BrianOFlanagan's picture

very bullish for cash $$$.

Sat, 08/06/2011 - 13:51 | 1531054 caerus
caerus's picture

bull-ish

Sat, 08/06/2011 - 15:36 | 1531431 Spitzer
Spitzer's picture

Yeah, it is very bullish that the CREDIT that backs the dollar was downgraded.

Fuck what a stupid comment but the poblem is that stupid fucks like you are the majority of the market so you might get your dead cat bounce in the dollar on Monday. I doubt it will be as big and as long of bounce as 2008 though.

Sat, 08/06/2011 - 16:06 | 1531482 THE DORK OF CORK
THE DORK OF CORK's picture

Spitzer - it could be a bait & switch operation to protect the Euro.

The fact that the ECB is not printing money to bail out Italy is disturbing - Italy would be  servicing less debt then Germany if it had American interest rates.

Sat, 08/06/2011 - 16:11 | 1531489 MsCreant
MsCreant's picture

More like, "hey look at me, not over there," but yeah, I had the same thought but dismissed it as the tin hat weighing heavy on my head.

We give them too much credit and make up stories because THEY DON'T TELL US THE TRUTH and we must fill the narrative vacuum with something or implode!

Sat, 08/06/2011 - 16:44 | 1531586 DoChenRollingBearing
DoChenRollingBearing's picture

Tinfoil Hats bitchez!

 

As you wrote on another thread MsC:

SJGR.  Yes indeed.

Sat, 08/06/2011 - 16:15 | 1531510 Spitzer
Spitzer's picture

Trichet see's the reserve currency up for grabs and he knows that it is not going to take much to out wit bernanke. He prints a bit, raises interest rates, lets countries bond markets blow up ect. This is all long term positive for the Euro.

Sat, 08/06/2011 - 16:42 | 1531578 malikai
malikai's picture

It would be a real shocker if the ECB came out on Sunday night saying they were going to raise rates and at the same time they would not bail out anybody else. That would seriously fuck over Benocide's plans for QE5000.

Sat, 08/06/2011 - 17:22 | 1531670 Spitzer
Spitzer's picture

 I wouldn't count it out.  It is more likely that they raise rates and do some minor bailouts. The raising of rates would cause capital to rush to the EU which would help the whole situation.

Sat, 08/06/2011 - 19:28 | 1531922 caerus
caerus's picture

stultus magnus est

Sun, 08/07/2011 - 11:34 | 1532583 DaBernank
DaBernank's picture

Spitzer, what are you smoking to be so sanguine about Europe and the ECB? Wish I had some because from here inside the EU projekt, things are quite bleak.

I'll repost some of what I wrote on another thread.

The ECB does not control much of anything, not policy and not much of the gold, that belongs to the sovereign nations themselves: Portugal 421.5 tons, Netherlands 674.9 tons, etc. The ECB only has 553.3 tons or 30 billion USD worth. If you think Portugal will give up its gold horde for a bunch of ECB paper, well, I hope you would be wrong but anything's possible with politicians.

Our massively overvalued € aside, the mechanisms of "Europe" to deal with a crisis of the magnitude of Italy and Spain being far beyond US-levels of bankrupt (which we have know about for well over a year) simply do not exist. Italian debt at 120% GDP, that's the 3rd largest country in the EU. Here in Austria, the number of people with mortgages to pay in CHF is simply astounding and in our next-door neighbor, Hungary, it is even more dismal. Guess who is the "Countrywide" in this situation, Bank Austria, owned by Unicredit.

The national identities within Europe will agree to cooperate but will not allow truly painful sacrifice of its citizenry for the well-being of another nation, because at the end of the day, European Parliament doesn't matter at all. Germany et al have our own elections to consider and the "political will" often bandied about by punditry can be replaced with Right-Wing nationalist parties at the next election cycle and "poof" the European projekt will vanish like so much smoke, and the EUR will be good for stoking fires alongside the USD, especially after Germany closes all of its nuclear plants and becomes even more reliant on Russia for energy.

Sat, 08/06/2011 - 19:17 | 1531901 caerus
caerus's picture

it's etc. asswad as in et cetera from the Latin for "and so on"...don't fuck with latin...

Sat, 08/06/2011 - 19:04 | 1531884 caerus
caerus's picture

the biggest "poblem" is that irony is lost on idiots...thanks

Sat, 08/06/2011 - 16:02 | 1531472 Cleanclog
Cleanclog's picture

Very bullish . . . for shiny jewelry - gold, silver, platinum, diamonds, emeralds, rubies.  Start sewing them into your clothing - but no getting on airplanes!

Sat, 08/06/2011 - 13:47 | 1531028 BrianOFlanagan
BrianOFlanagan's picture

worldwide deflationary collapse seems unavoidable.

Sat, 08/06/2011 - 15:55 | 1531460 Taku
Taku's picture

Worldwide Ponzi revelation seems unavoidable.

These 'elite leaders' could start meeting and talking to each other 24 hours non-stop and still produce nothing of substance.

Sat, 08/06/2011 - 16:39 | 1531564 unununium
unununium's picture

Bitcoin market is open for business 24-7 and is registering a 33% decline.

Sat, 08/06/2011 - 17:15 | 1531658 mind_imminst
mind_imminst's picture

The FED and ECB will put their best hyperinflationary foot forward before the collapse. Whether it is deflationary or inflationary, we end up in the same place. Deflationary depression would be quicker, more fair, and easier to manage than hpyer-inflationary.

Sat, 08/06/2011 - 13:50 | 1531038 dontshoot
dontshoot's picture

So... Long Dec31 gold, long Sept FAZ for hedge in case of liquidity run? -_-

Sat, 08/06/2011 - 13:49 | 1531039 dontshoot
dontshoot's picture

doublepostnegative

Sat, 08/06/2011 - 13:49 | 1531044 King Dong
King Dong's picture

Berlusconi will offer up some of his whores as collateral

Sat, 08/06/2011 - 13:50 | 1531052 dontshoot
dontshoot's picture

That is an italian bail out I can buy into.

Sat, 08/06/2011 - 14:00 | 1531110 Ahmeexnal
Ahmeexnal's picture

whatever happened to Cicciolina?

Sat, 08/06/2011 - 14:44 | 1531311 caerus
caerus's picture

"ladies...who would like to ride the berlusconi pony?  seriously?"

Sat, 08/06/2011 - 16:43 | 1531581 snowball777
snowball777's picture

Wow, they really are taking any kind of trash these days.

Sat, 08/06/2011 - 13:52 | 1531058 doomandbloom
doomandbloom's picture

they are in a quicksand....better for them to not make any unnecessary movements now...if they do they will take the all of us down...

Sat, 08/06/2011 - 14:01 | 1531117 wang (not verified)
wang's picture

sadly there is no such thing as quicksand

a creation of Hollywood

Sat, 08/06/2011 - 16:47 | 1531592 snowball777
snowball777's picture

No, hydrogels exist, it's the sinking into them uncontrollably that's fiction.

Sat, 08/06/2011 - 18:51 | 1531864 wang (not verified)
wang's picture

ya ya with a name like snowball, you'd know

I stand corrected

Sat, 08/06/2011 - 14:16 | 1531194 TruthInSunshine
TruthInSunshine's picture

OBLAHma, BernBLAHnank, GeithnerBLAH, TrichetBLAH, MerkelBLAH, SarBLAHkozy, BLAHberlusconi...

BLAH, BLAH, BLAH, BLAH.

TALK, TALK, TALK, TALK.

WORDS, WORDS, WORDS, WORDS.

NOISE, NOISE NOISE, NOISE.

GRUNT, GRUNT, GRUNT, GRUNT.

A quote from The Bourne Identity is appropriate to all the talkers, the TOTUS, and all other BLATHERERS:

Why don't you go upstairs and book a conference room. Maybe you can talk him to death

Sat, 08/06/2011 - 13:52 | 1531059 Ghoaster
Ghoaster's picture

Damn do I love my PM's today

Sat, 08/06/2011 - 16:47 | 1531595 DoChenRollingBearing
DoChenRollingBearing's picture

+ $1660 and green.

Sat, 08/06/2011 - 19:54 | 1531954 Stares straight...
Stares straight ahead's picture

Gold was mostly sold out in the early morning of our local coin show, today.  What was left (scraps) was selling at a $2200/ounce.  Highly unusual for these guys, I have known them for 5 years.  Silver was variable (hot and cold) depending on dealer. 

I am wondering where the flight to safety will be Monday and highly suspect it will be to gold.  However,  I would be suprised to see the dollar fall much.  We'll see.

Sat, 08/06/2011 - 13:53 | 1531061 THE DORK OF CORK
THE DORK OF CORK's picture

This is it Bitches , freegold serfdom or Dollar reserve serfdom   - the Dollar Bitches Vs the Freegold Whores.

I am a Gold trollop but will take dollars on Monday if they can pay my bills........................................

Sat, 08/06/2011 - 16:49 | 1531601 DoChenRollingBearing
DoChenRollingBearing's picture

Dollar Bitches vs. Freegold whores...  Quite a choice there DoC.  I see you (correct?) over at fofoa, excellent comments.

Yeah, on Monday I will take either money, and get even more prepared.

Ugh.

Sat, 08/06/2011 - 19:04 | 1531882 IQ 145
IQ 145's picture

Silver. it's not magic. it's rational. it outperformed gold hugely over the last ten years. you can own it a bullionvault.com; read all about it on their website.

Sat, 08/06/2011 - 13:53 | 1531063 lesterbegood
lesterbegood's picture

"Investors are eager to see signs of a coordinated policy response among major economies, which might prevent the crises from spreading or getting worse."

LMAO

Sat, 08/06/2011 - 14:37 | 1531274 dolly madison
dolly madison's picture

Yeah, that quote was what stood out for me too.  The world would be a better place without coordinated policy.  Globalization has been so bad for the world.

Sat, 08/06/2011 - 14:47 | 1531325 RiverRoad
RiverRoad's picture

Right.  And god help us all in that event.

Sat, 08/06/2011 - 19:06 | 1531887 IQ 145
IQ 145's picture

It has been neither good nor bad for "the world". It's a code word for send all your money to China; propaganda to the contrary not-withstanding.

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