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Euro Plunges On Fitch Double Tap, Comments From Merkel
Chinabot is in full fail mode, after a sticksave attempt to save the currency following the Italian downgrade by Fitch was monkeyhammered with the Spanish downgrade which was not only two notches, but sent the country's rating to below that of S&P and Moodys. Adding fuel to the fire is an errant comment from Merkel who has said that Eurobonds are "absolutely the wrong way to go", and lastly, a last minute notification from Fitch which goes for Trifecta by saying that Portugal remains on outlook negative, and the result is visible on the attached chart.
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If the Euro was a dog one would be evil for not putting it out of it's misery.
The dog is dead but still tied to the tracks.
All that the fascist dictators like Merkle are doing is panning for gold. They want to keep gold as low as possible for as long as possible so to continue the status quo.
Once again, they are panning the EUR vs the USD to shake the price of GOLD. There is NO OTHER reason for the politiking.
The system is hanging on by a golden thread. When it implodes the golden ripcord will be pulled, and the golden parachute will be issued by the BIS/World Bank/IMF. They will save the governments if the governments pledge their gold reserves as collateral. Here is your New World Order.
Buy gold now, while it is cheap. It won't be cheap for long.
eurobonds == nazi konfetti
Merkel words mean nothing. It's her actions. And she's been the most willing puppet of the power elite.
What Merkel is doing to the PIIGS is by any gauge an act of war.
Civil Wars in Europe and America? Music to the New World Order's ears. Everyone please remember: The revolution will not be televised.
Live webcam?
Outside your door if you have the internal fortune (or shear ignorance) to get off the floor and look out of the window.
clever Angela Merkel
I am beginning to like her...
as a German i realize of course that she is right
as everyone will soon realize
you're shitting me right? act of war? what the fuck do you expect? that Germans pay for socialism in Greece and Italy? if they're broke, that's their problem. we got our own to take care of. fuck off.
Isn't that the same shit Cain said about the 99%
Well said Mr. L. This is all about stalling for time, while putting physical gold into the vaults of the central banks and into the hands of people with whom we trade. If China succeeds in getting its citizens to buy gold, and the West succeededs in keeping its citizens from buying gold, and then Voila, the tablecloth is removed to show the only thing holding up the feast is a golden table, then the world you end up with is better for global trade, one in which our standard of living is lower, and the Chinese standard of living is higher. As they said in The Godfather, it's nothing personal, it's just business.
You didn't think most of the gains coming when the Asian markets are open was just a coincidence, did you?
Buy physical and bunker from the storm. You can't time this, and there's better paper to trade then paper gold.
Spot on, spot on, they are buying for time. They know that this whole system is unsustainable, it was never meant to last. That is why China and others are running around the planet buying resources and precious ones at that. They know that once the Western economy goes down taking alot of the world with it, they will need a new form of currency and that one will be based on a basket of resources and whomever has alot of these resources will be able to manipulate the new currency better. (copper, gold, silver, oil, and other ones) will be the base of this new currency. American standard of living will be third world without a doubt, and we will know what it feels like to be a Mexico.
Agree with you about them buying up all the Gold in the world, but the shit won't hit the fan until another 100 years. Sad but true. The world will definitely be a different place then. The dam bankters are sneaky little bastards. They'll continue to cause panic until then.
Larry Kudlow just had a "king dollar" orgasm...
naw just shave its butt and teach it to walk backwards.
In an analogous methaphor: The Merkel bitch-slapped the EUro Bond bitch, after the Fitch bitch-slapped the Spainish and Italian bitches and warned the Portuguese bitch.
No credit bus coming, Bitchez!
Don't be waiting on, God(OT).
[we were talking about a (to)dog, right?]
"If the Euro was a dog one would be evil for not putting it out of it's misery."
Have you thought about what that would mean for supply chains, communication, daily life in US if Euro were to disappear? Lots would disappear here, within 2 weeks....
Obviously someone has, that's why they are stalling.
The Euro....ECB, ECFS trichot, merkel, erkel, geithner, el berflunkee,
da whole bunch of crooks.
http://www.youtube.com/watch?v=3j_B-GhvPgU
.the video movie short version Vegas Style...
It is not the Euro that's the dog
it is the US Dollar, the World Reserve Currency
that is being used by Bernanke as if it was Garbage...
in his game to fuck over the world... (beggar thy Neighbour)
so let's just get this clear !
The Euro should be much lower than 1.33, (but more like 1:1)
Neither the US nor the EU are treating it's currency as anything with value, becaseu they contain no value, and should there fore be 1:1. You are correct.
Ouch, currency slap! Let's see 1:1.
FT?
help!
Just went long with margin buying calls and long stock with TNA. This is BULLISH!
I hope TNA stands for Tits N' Ass?
Ballsy move. Good luck.
CRACK! ..... Walking on thin ice is dangerous
Modern life waltz: PF :: Thin Ice Live 1980.
http://www.youtube.com/watch?v=mheRPjt2Qdk
Europe spent the last two cents they had fighting Libya. All governments are bankrupt. And all of the New Word Order is FASCIST.
Obama Nation- Lowkey f/Dead Prez:
http://www.youtube.com/watch?v=bB-vYuYhdSE&feature=related
Governments never have sense, so how can they ever spend their last two? It merely means they will acquire more by trashing their clients who proffer their hind ends for more every Tuesday.
The game is almost over. The Military Industrial Complex needs oil to run their wars, and they have none. They will get desperate if they can't procure Libya's reserves soon, and start it up with Iran, but they need a win bad. If they do not steal some major oil fields soon, it's death for the NWO.
Tick...tock....tick...tock.....
one word. bekkan.
Nice how they put a hammer through the propaganda box at the end
hah, at first glance i thought the headline read "Taps" played for the euro..
Fascinating if you take a look at PMs and SILVER in particular in relation to this...
Yeah, if I didn't know this is a free market, I could almost come to the conclusion this is manipulated somehow.
please test $28.
There's still a lot of short paper that needs to be shredded.
I know that an inverse relationship exists, but I'm not sure why. Let's see weaker $Euro = stronger $USD = PMs worth fewer $USD. But nothing at all has fundamentally changed about the metal, only the stick by which it's value is measured...time to get a new stick.
This is exactly it. If you look at AU in EUR ( http://goldprice.org/gold-price-euros.html ) you can see it spiked up at the same time it spiked down in USD. We're just seeing exchange rate shifts.
This one really is just temporary. Euro collapse will drive USD way higher, before USD drops. Could be a buying opportunity for AG/AU, but my guess is that physical will continue to become more scarce.
The frightening thing to me if several people had forecast just this happening, which means we're just about to pass a pretty important milestone on the way to collapse, the EUR being the first togo.
What would be fascinating would be a coin store with inventory. A paper PM raid into the COMEX close on news of the paper debt collapse is merely desperation.
Well, it was about time focus was brought back to the Eurozone, after all, the Euro had rallied from 1.315 to 1.353, and 10-years had plunged from an implied yield of 1.72 to 2.12.
The Pound Sterling has been remarkably quick to erase the losses sustained through the QE announcement yesterday. If QE announcements don't matter, let's have some more of them, please.
Well timed QE, almost as if the Brit knew the pain Fitch was bringing
Haha!
plunged! as in plunging w/ the plungers!
the british banksters just said: we're gonna print. and, they did!
maybe the anders fogh rasmussens and leon panettas can stop patting themselves on their backs long enuf to spend the new money, too!
heluva job, brownies!
technically, it was Clownhammered, not Monkeyhammered.
Zandi on Bloomberg TV now
green shoots
And... you're still watching? How sad for you...
But the Euro notes look much prettier than the U.S. dollar, surely that means something? After all, both are backed by nothing?
... well, the U.S. dollar is backed by a multi-trillion dollar war machine i guess.
You feel like you're holding monopoly money, albeit the deluxe edition.
I'd like to get some LIMITED EDITION notes, if any such exist in this reality.
backed by the full faith and credit of Milton Bradley?
No, GOLD is backed by nothing. (SARC)
http://www.youtube.com/watch?v=1V7n3qRRM60
And it has no return (sarc)
but paper gold has a return, and that return...is...pain.
... well, the U.S. dollar is backed by a multi-trillion dollar war machine i guess.
Yeah but no pillaging. How about some pillaging!?!?!? Black gold, Texas tea ... you know?
The bots have nanosecond attention span and dow will soar before you can blink
Stronger dollar will work against any recovery here imo. How do you ship more expensive exports that already are not wanted overseas?
The good news is that anything we import from Europe (whatever that is?) will be cheaper.
How does a 1. strong dollar...2. weak euro...effect the RMB?
whatever that is?
pretty much everything that you americans lust for!
Linus, I look around stores and everything is "Hecho en China" ahora (ahora means now)...except for the piddling few textiles from Guatemala, Bangladesh or 'nam.
Wines, Bubbly, etc are now from Cali or OzLand...and many from Chile and Peru!....even a handful from Texas (Yuk!).
The strong dollar will mean stronger profits for Walmart etc who import tons (literally) from The Middle Kingdom....and don;t give me that stuff about their labor costs, taxing foreigners, etc....piddly compared to what that sh*t costs here to make.
the fellow below who says the USD and Eurp will compete to race to the bottom may be right....which means we might be in another painful round of soaring commodity prices (or smaller packages). How small can they make a "pound cake" and still call it a "pound?" Right now, these so-called pound cakes are 12 oz or smaller. Berries and veggies are almost all 10oz or 12oz...no longer 16 oz yet th eprices are even higher then before.
Yes, the death of the US middle class probably means hardly anyone can now afford to buy the European products which in the US fit into the luxury category... except our friends the bankers, of course, who will be spilling champagne on their Versace suits in their new BMWs after market close.
Seriously now, Europe is in far worse shape than most of you seem to think it is. The US still only imports about 12% more from China than it does from the EU, about 40 billion dollars difference. The EU still has a positive trade balance of 70 odd billion euro with the US, even with a relatively unfavourable currency situation.
The big question is whether things can go so bad in the US and the dollar can be so devalued that manufacturing returns to the mid-West and improves both the employment picture and the US terms of trade. I'm almost hoping for this to happen naturally, so we don't have to have a war to make it happen.
... and Pulau, the strong dollar doesn't help Walmart's imports from the Middle Kingdom while their yuan remains fixed against the said dollar.
economy in germany right now is booming. 2.9 % unemployment here in bavaria. that means: NO UNEMPLOYMENT. the autobahn is full as it never has been - that means transportation business it running at 100%. people at auto-manufacturers report they are running at 100%. so where is the crisis?
this is a rediculous market and a perverted market perception of the stock market and of you guys there on the sinking american ship!
Pretty sure the lights on the Titanic stayed on even after the ship was entirely below water...
there is californian whine offered in here germany as well...for 1,99 EUR/bottle down in the cheap shelfes. the point of what you are saying is: average americans just can not afford any real quality anymore unlike in the past.
who the hell would buy crappy chinese or american products if they could buy european? you don't believe it? probably you don't know anyone rich.
precisely. and if it's a stand off b/n the US and Europe who wins the currency race lower? we will have no employment growth UNTIL the USD is worth less. i am starting to think the end game is more of a closer tying of the EUR and the USD in relation to the commodity currencies.
But America only exports dollars and death
This is getting dangerous: if China can't prop up the EUR, who is going to be able to afford to buy their junk?
Exactly!
dangerous? for who? for the soul-less, icy hearted heathens who run the worlds finances and suck the people dry?
For everyone not being able to foresee what is about to occur in three to five-years time. Do you know the targets for those individual ICBM warheads? Neither do I.
Bullish ICBMs. Who makes them?
Stock is privately owned. :-)
In order: ICBM, bomber, and submarine bases, power generating plants, large defense manufacturing sites, followed by financial and political centers (though much harder to target.)
What I'm pondering is if they target renewable energy sites (wind farms) or not. Seems like a waste of a nuke to me. If China is the primary attacker, they have fewer warheads and might be more selective.
Disclosure: long real estate in the middle of nowhere.
The thing is, the people planning this war might allow some of the (Chinese) ICBMs / bombers get through the 'defenses' and nuke a desired city and/or carrier strike groups in order to... level the playing field as had been done previously.
so you're that one guy buying real estate in Chinese ghost cities?
it is pathetic to think the chinese would help either the US or europe. only the always-unrealistic south europeans think like that. and as always: their dreams won't come true.
the truth is: absolutely noone but we the germans will buy the south european (including french) sovereign junk.
It is a concerted effort, THEY want it down. The paymasters faxed Moody's and S&P's HQ at the same time this AM for info release.. the market has been hesitating all morning long.. someone knew something in advance.. free market capitalism (for the few of course!)
Bet your left nut on a sell-off on Monday. Pump and dump the biiitch - fundamentals are screaming for a redefining of the predicament we are in. Use the D-WORD, bitchez.
Normally I would agree, but I think we can all agree that fundamentals haven't meant a damn in this market. All that is going on is a stall for the real pump and dump, and that will occur in fiat currencies, when TPTB are ready, and not before. So, the lesser scam of leaving the public holding the bag at market tops has to make way for the greater scam of killing the currency and leaving you with a life's worth of savings denominated in worthless paper. The market crash will just have to wait.
This market is going sideways and so is paper gold and silver, until Ben and company say otherwise.
Blood in the streets, eh?
"Larry Kudlow just had a "king dollar" orgasm."
LMFAO.
not much of a rally in USD... Not much of drop either ;-)
Gold has also sold off... evidence once again of how astonishingly stupid most market participants are
I will be shocked if the spot sell off isnt buffered by a premium rise on the street for physical metal tonight on my way home.
Stronger dollar. I feel like it could sell off even more as people start to fear deflation. Sure everyone thinks at some point the fed will print but when will they? If they delay then people will start fearing defaults more than inflation which would be deflationary. Gold is certainly a good long term play but there are factors that could bring it down for a few months. You've got to have a rock gut to play it
Gold will go to $600 before it goes above $1,800 again.
When is frace's ratings due in?
France, hell thats priced in -- when is Germany due
Anyone know why fed primary dealer/derivative trader MF Globle is down almost 8% so far today?
Once you discover the horse you are riding has died, dismount and stop whipping it. ~Chinese Proverb
Bob Pisani just shit himsellf and is scrambling for merger news, huge upside buying on a no-name stock, or anything with "3-day rally" attached to it.
"what's important here, is we're up for the week."
does pis still use the phrase `a victory for the Bulls`
honestly how can keep your sanity and watch that shit
So bullish.. good thing i had shorted euro from all the way from 1.35
i will share 10% profit with Fitch if i can pick up few hundred pips
http://www.youtube.com/watch?v=KV0FJHSYbvw&feature=related
And this is why, outside of miners, I do not buy stocks. News events dominate and have taken over the markets. No way you can trade this crap.
I bet the day traders love it.
We do. How is this not a trade-able market?? It's that slow-grind-melt-up crap between Mar 2009 and April 2011 that wasn't trade-able. Way more coin to be made in FAR less time now!!
PMs plunge too. What's up?
Retards speculating in paper - that's about it.
Demand for ChairSatan Confetti.
the ghost of Monday past trying to assert itself
It does seem like "gold falls first" these days doesn't it? During the last correction, a plausible explanation was hedge fund redemptions and mutual fund forced selling.
But these days the pattern seems to be:
- Banks and govts are acknlowedged to be screwed.
- Gold sells off.
Can't wait until this pattern is over, but we may have to wait a few months at least. Europe ain't gonna fall apart over a single weekend. If TPTB are really manipulating it downward, their incentive to do so will only increase as the emergency grows in severity.
Rumor is that Fitch is going to downgrade Gold and Silver to A-, outlook negative.
Post Of The Day! (I don't just give those out whilly nilly either)
Yes, this is totally normal right now because your witnessing the destruction of a currency, this will reverse quickly, no worries, it's a normal function.
Something else to keep in mind, there is a huge Put on the S&P.
Don't forget that there is a liquidity trap waiting in the wings also like I mentioned last week.
They are Vultures at 300 feet circling a carcass.
Hey guys, just trying to figure out what happened to IQ 145? Gosh I hope he's okay after holding financials and S&Ps through this bearish channell top and then proceeded to get whipsawed. Somebody please tell him Cramer says Buy Buy Buy and keep your longs!!! Fucking idiot
Please don't curse at Cramer, it's prohibited to curse at clowns and retards. First Amendment
And what happened to the guy with the Sheep avatar? I hope he's just on vacation.
You mean The Architect from The Matrix movies? He's hiding out on some other website impressing people with his vocabulary.
BAC 93 cents to go
I would like it to see a 4 handle today cause that might just might set up a wonderful October Monday - but we need a trap door and bless Fitch for trying to open one up
Hurry up Santa.
Double tap? More like two to the chest, one to head.
Germany won't pay for the misery, the fraud and the crapshoot of anyone else.
That's all you need to know.
(Disclaimer: Germany will pay for a bit if it's dragged into a war it cannot win and a contract burdens the country with odious debt - again - which will result in yet another war following the first one where Germany stops paying the debt but a much bigger burden will be shouldered on the people as a result of that war)
Closed loop. There's no escaping it.
I like your approach but I would have worded the caveat a bit differentlyl
Germany won't pay for the misery, the fraud and the crapshoot of anyone else.
That's all you need to know.
(Disclaimer: Germany will pay for the misery, the fraud and the crapshoot of everyone else.)
Over my dead body.
RIP then lol
Will Sarkozy's french troops plow into the Rhine-Ruhr Valleys and "save the civilians?"
Dear Germany,
Pipe down and pay up or we will invade the Rhineland and starve you (again).
Sincerely,
Europe
Meanwhile, Ben is mumbling something about "fuckin' amateurs..."
good timing, european traders off, monday anonymous hackers attack on nyse website...hm
I just love to see the Euro plunges
I can just see Bernanke getting up in the middle of the night
in his blue and white striped Kimono , mumbling to himself...
what the fuck am I gonna do now ?
we are already way below Japan until 2020...
We need some damn truth out of Europe. The rope-a-dope is getting old.
the Truth, I don't think you can handle the Truth
o.k. you want the Truth, here it is:
The Truth is called: Austerity
A>U>S>T>E>R>I>T>Y.
wr;)
I don't see that german king sitting in the Vatican being austere, do you?
yes, I actually really do like the Pope
he is a very modest , aesthetic and austere man
even a king can be Austere...
have you seen the simple throne of Charlemagne ?
(Karl der Große Trohn)
http://en.wikipedia.org/wiki/File:AachenerDomKarlsthron_1661a.jpg
wr;)
Who the fuck cares, that the current Pope is German? The last one was Polish. So?
What's your heritage anyway?
Ich bin Römisch Katholischer Deutscher
von Karlsruhe in Baden - Württemberg
http://en.wikipedia.org/wiki/Charlemagne
I think Angela Merkel should invited Pope Kardinal Ratzinger
and the Vatican to join the European Union.
Roman catholics are usually very Austere People...
wr;)
I was referring to the other guy by the way..
Weiße Rose is one of my all time favorite German wartime stories. So inspiring and so courageous in the darkest days.
**
Please don't make statements about a religious group and their personal choices in regards to debt and spending.
Italy is THE Roman Catholic Hochburg and look where they're at. The Mafia runs the country, Berlusconi is a womanizing pig and the country is broke.
Vatican City, the territory on the Vatican Hill in Rome
under the sovereignty of the Holy See created by the 1929 Lateran Treaty
therefore the Vatican is an sovereign nation State, independent from the Italian government,
or Berlusconi or Rome...just thought I point that out...
Italy is THE Roman Catholic Hochburg and look where they're at. The Mafia runs the country, Berlusconi is a womanizing pig and the country is broke.
Are you sure you're not talking about 'A Game of Thrones'?
and industrialists
and industrialists
Come live in Germany, Ahmeexnal, you'll be shocked at how austere the Germans naturally are, almost all supermarkets are discount supermarkets and things in general are CHEAP, probably because nobody wants to borrow and spend on unnecessary crap. If the new game is austerity and hard work, the Germans would certainly start favourites.
Probably why the US would prefer the new game to be war...
All true BTW.
Then there are the bad haircuts and wolf t-shirts.
Course what they save in food they spend on their Audis, BMWs, VWs and Mercs and then talke them down the motorway at 200 mph. (ok 155)
Trust me, I lived in the netherlands for quite some years in Arnhem. Close to german border, worked in Germany for about 1 1/2 years. The US is way cheaper then Germany. And like the guy said, You spare on food but buy AUDI's BMW, And Mercs from it. ( Best cars of course are coming from Germany no doubt!)
Then I've been in the US for a Seminar, over there everything is much cheaper.
It´s a setup of gigantic proportions.
The market has an overhang of millions of Oct. SPX put contracts.
So, it rallies until maybe the 10th or 12th on rosy spin and then is hammered with scary stories until the 20th. There is also the possibility of some big event, such as a terrier attack in the U.S. or Europe to tank the market.
BAC earnings BMO Oct. 18th.
With the lousy jobs report and metals climbing the wall of fear, who really thought they would let today just slip by without stomping silver to a pulp? I thought the drive by would hit last night (3 to 3:30 AM) but no, it was the lunch hour today. Nice head fake.
let the drop kicking of deutsche in the face commence...
I've got no problems with eurobonds - providing they are used after the total collapse of the financial system and most of the bloated zombie banks, complete debt repudiation, and any sovereign defaults out of the PIIGS have occured (probably, all of them.)
That way, not one penny of losses run up during the boom years, no bailouts, no creditors made good. That way, eurobonds cannot be a mechanism for recycling bad debt from before. Sovereigns will be a bit chastened, such creditors as remain won't touch them so there'll need to be eurobonds anyway. And they can go on decent stimulus, not paying bank-bubble-debt inflated prices, and us european workers can get on productively with the anglo-saxon property bubble ideology (and, ideally also the City of London & Wall Street) fully excised.
And silver / gold getting bitch-slapped right about now too....
All I can say is when the dollar starts to fall (which it will - It always does)
The price rebound that will probably happen in Gold / Silver / Oil will be quite amazing..
Does anyone really think the dollar is "stronger" because of the shit that has happened over the last 6 months?
And...might I just also say....the while currency trading thing is a fucking racket...."The euro is up...the dollar is down...the yen is up"...blah Fucking Blah-Blah....It's really nothing more than a fucking shell game...where massive amounts of money to throw back and forth...just to skim a profit off of the churn...the "values" assigned to each currency (compared to each other) has no real bearing on the financial stability or health of a currency or a nation - NONE whatsoever
Euro just got Fitch-Slapped
Aren´t safe haven assets supposed to go up when money moves out of risk? As before I find the trading behavior of gold and silver peculiar.
Gold and silver still tied to the hip with the Euro and the price action of BAC
Monkey see, monkey do. Everything is correlated.
Where is all the voracious demand for "physical?"
Oh, sorry, they are piling once again into "paper" today (TLT).
How was it that the rise in the dollar during AUgust had gold up then, Robot?
The fiat follows gold, it is not the other way around. Gold is what the Federal Reserve, and all Central Banks, use as collateral for their loans, so to establish their fractional reserve fiat ponzi lending system.
Gold....is...monie.
How the heck do they manage to move a stock watering scam like BAC with 10 billion outstanding shares
by 5-6% or more during a session?
It seems almost miraculous.
is that why the Aussie Dollar has fallen 14%
over the last few days ?
It is a commodity currency
but every time the US Dollar rises TSHTF
and life is good again.
wr;)
Germany may have to ressurect the GeldNot or GeldMark and pull out of the Euro...print these suckers backed by the Barbaric Yellow Metal and show the EU what true Teutons are all about.
Walkure, was dencken Sie?
Ohhh, I wish they would- If Germany pulls out of the Euro and uses solid currency they will OWN the world soon after.
Ya hear me Angela? DOOOO IT.
She will at about 330, by asking sarkozy to pull the fat finger from her ass.
she will twist and smile as it leaves her body, walk over to the bernak who has hiding in the shadows of the room, give him the finger and tell him "here is your qe3"
damn u rite gud
Oh yeah, because sitting out of the Euro with a strong export economy and strong, solid currency worked out so well for the Swiss!?! Pfff.