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Europe Tells Geithner To Take His Advice And Shove It
Just because it is not enough for Tim Geithner to be mocked, ridiculed and generally despised on one continent, the former New York Fed "Hudsucker Proxy-style" plant has just managed to become the most despised individual on at least one more continent. Bloomberg reports that European Central Bank Executive Board member Juergen Stark said countries offering advice on how Europe should solve its debt crisis should put their own fiscal situation in order first. "Finger-pointing in the direction of Europe shouldn’t prevent others from putting their budgets in order and doing their homework before handing out advice to Europeans," Stark said at an event in Vienna. This probably means it is safe to assume that the ECB, after listening to the human caricature of Beavis twice in a row on implementing totally failed stress tests, will not take up Timmy on his latest proposal of how Europe should fix itself. It is also safe to say that Europe just have a perfect example of how one should shut up a corrupt, incompetent, cheating, printer of virtually infinite one-ply US debt.
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The Afternoon Careless Whisper Update
"Gulf Cartel" Takes Over Government In Mexico For 5 Hours; 70 Armed Men Arrive In 22 Vehicles With CG Logos (Apparently Not Trademarked); Nobody Hurt
http://noticias.univision.com/narcotrafico/noticias/article/2011-09-14/7...
Two Small Fry Arrested For Insider Trading
http://www.nypost.com/p/news/local/federal_prosecutors_in_manhattan_N1KS...
Mexican Mayor's Convoy Attacked Near Cancun
http://latino.foxnews.com/latino/news/2011/09/15/mexican-mayors-convoy-a...
Old Men In Congress Ask Panetta To Delay DODT Repeal Set For Tuesday
http://www.stripes.com/news/days-before-dadt-repeal-lawmakers-ask-dod-fo...
Homemade Video By Troops Indicate They Are Ahead Of The Curve On Diversity
http://www.youtube.com/watch?v=DXk_jVUEV-I
Careless whisper,
Gonna ONE up ya.
OT, but funny.
Webite on Scarlett Johannsens nude pics, ask's "What would Tyle Durden Do?".
How did Tyler get involved w/this!
Another OT:
Who's minding the store?.
http://blogs.wsj.com/economics/2011/09/14/billions-in-unemployment-benef...
He was laughed at by Beijing Universty students while making a speech about the "strong dollar" policy. Add Asia to the list of continents that think of him as a clown.
the walking, talking armpit....timmah.
Maybe if he offered his tax services they would like him better.
I actually don't have a problem with Tim Geithner. So he molests sheep. So what?
rumor that i hear is that mexico is facing a real insurgency not just random drug cartel violence... really hard to say what games the governments are playing right now.
perhaps a collapse of mexico will make it easier for a north american union ?
Look up "Merida Initiative"
another reason ron paul is more right than wrong: the war on drugs should join the war on terror in history's dust bin.
LOVE IT!! That should take Geithner down a notch or two! Good for Europe! Geithner is there just to make sure the banks get their money anyway, he could care less about the countries, it is all about the banks and money for them.
Hard for Geithner to go down any lower... he's been laughed out of China and is a standing joke here in the US, and now takes his "Rodney Dangerfield" act to Europe with the expected results. Maybe he can get rejected by the penguin population in Antartica...
maybe McDonalds will revive Ronald McDonald just for Tiny Tim, he already has the red funny nose and size 19 clown boots ...kids could learn how to redicule this retard after every adult on the planet has finished with him!
He reminds me more of the hamburglar.
Wow.. It seems they don't know greatness when they see it. I was Hoping they would keep him so we could have some real Change.
Seems like many Greeks have taken Turbo Tim's advice for the past decade when it comes to paying taxes.
He's their pin-up boy.
TOUCHE'!
It's not enough that Geithner is mocked and ridiculed. This asshole needs to be removed.
Somebody should throw a pie in his face and put it on youtube before he accidently falls on some bullets.
I'm sure Benny will still bail them all out...
He's the spider running the hedge fund at the centre of the financial universe, and his only god is aggregate demand...
http://azizonomics.com/2011/09/15/christine-lagarde-there-is-still-too-much-debt-in-the-system/
"his only god is aggregate demand..."
this is the fundamental flaw of central bankers the world over - they focus on aggregate and take any credit expansion, because they know without it the system will collapse, leading to the eventual destruction of the currency they are sworn to protect.
I have not heard a single central banker address the key reason for the current crisis, which was the unrestrained malinvestment, i.e. debt for consumption and non-yielding assets. And this is why they have no plan other than to get through each and every day, no matter what it takes.
the problem with aggregate demand is that it is an aggregate, and doesn't distinguish between productive and non-productive spending.
there you go sir, you just summed up my economic philosophy.
have a +1
Indeed.
Aggregate demand is just a bunch of prices (for goods & services) multiplied by their quantity. However, if those prices are generated by command, there's no accuracy whatsoever in their actual value.
In a market, people try to get deals--in government, not so much. So the closer one moves to a command economy the more prices are just made up and the less utility is received per price. This is even excluding the fact that government goods are inferior.
Yea well one of these days soon there will be no more bailouts, but war started by them instead. Their #1 real problem is too many people, and nothing theyd like more than to reduce the world population by a couple billion people. Make no mistake about it, right when everyones expecting to coast along on more miracles is when another 9-11 X100 happens one morning.
Just remember war solves everything, wipes clean all books and records. Top criminals become Generals. When bailing out becomes more troublesome than flipping the World War switch to on, watch out.
there aren't too many people, exactly.
i mean people are society's greatest asset — labour, innovation, ideas, etc.
it's just that all the resources that the market would send to feeding and clothing the world have instead gone via government and government-sponsored-monopolies to the pockets of people like warren buffett, who don't give a fuck about anything other than putting the competition out of business through overregulation.
cannibal corporatism.
There goes Timmay's shot at being named to the Ryder Cup team.
smells like just politcal theatre for the gallery (european public).
Nice TaTa's. Yours?
http://fofoa.blogspot.com/2011/07/euro-gold.html
and here is
13 September 2011 - Consolidated financial statement of the Eurosystem as at 9 September 2011http://www.ecb.int/press/pr/wfs/2011/html/fs110913.en.html
Don't worry Timmy - I am certain you and Benny will put Europe in its place. Gonna lend them more of the US taxpayer's money?
If Geitner is giving any advice, it should be from inside a jail cell in a Federal prison (without his hair piece on, of course).
He is such an shame on this country.
My god, I can't stand the thought of a criminal scum like him as well as a fukin TAXCHEAT in this office.
Owebama, you nit , dump this clown.
At least JamieDIMON is well not TIMMAY!.
DUMP THIS CLOWN DUMP THIS CLOWN DUMP THIS CLOWN!
Beavis! ROFL its funny cause its true
A meth'ed up Beavis and Buthead could not be more worthless than this geethner dope.
Creating Debt to pay for toxic debt to delay the reckoning of unrepayable debt provided by the most indebted central banks in the world. The whole problem started in 1972 when Nixon defaulted on its Gold obligations to France and kept the gold and started handing out paper without anything but debt backing it instead of gold certificates.
That started the spiral of ever increasing spending, lower taxes and higher deficits and debt. This trend has spread throughout the world and now the most indebted borrow (or print currency) to bail out insolvent banks.
I'm certain that the outcome of this insanity is enough to make EU officials snap at Geithner when he suggest more of the same.
Duffminster
for accuracy it was August 15th, 1971 when Nixon closed the "Gold Window"
Beavis..hehe
Dude! Pull my finger!
"cheating, printer of virtually infinite one-ply US debt."
Thus his need for TP for his bunghole
http://www.youtube.com/watch?v=Ow4SHYu2ZNE
Hail Victory Comrades!
Hello!
Stark resigned on Friday so the ECB will ignore him but who would back Europe in a team bonding competition?
Any takers?!
exactly
Stark is the anti central bankster
that's why he can speak his mind without any reprecussions....and why he is no longer going to be an ECB banker either....he just doesn't fit the mold.
I'm pretty sure Stark wanted to send Timmy a "Fuck You" card for quite some time. Now that he's on his way out, he can. I like this guy.
Delete double entendre...
Somebody ought to throw a Jihad on his ass. Durka Durka
Fucking perfect.
Now the FED central banksters will throw a tantrum.
Now hang on. Didn't Geithner's legend begin in Asia, before he ever hit the bigtime back in the Americas? So Europe is continent number three. At this rate I shudder to think what he has planned for Antarctica.
Nah! Next stop Argentina! They throw things at cod pieces. Punk! Milestones
I posted this on another thread but wanted some feedback on my understanding as it was a post responding to, why Gold and Silver have been getting beat down the last few days.
Thanks !
The way I look at it is that the call positions in options and futures is "massive" because, during the run up everyone was piling in. Now being that tomorrow is the triple witch hour and Quad witch day and that they only occur 4 times per year we are seeing a coordinated effort to "take" these calls "out of the money"
That's why Gold and Silver have been taking a huge hit for the last week.
Triple witching hour is the last hour of the stock market trading session (3:00-4:00 P.M., New York Time) on the third Friday of every March, June, September, and December. Those days are the expiration of three kinds of securities:
The simultaneous expirations generally increases the trading volume of options, futures and the underlying stocks, and occasionally increases volatility of prices of related securities.
On those same days in March, June, September, and December, Single-stock futures also expire, so that the final hour on those days is sometimes referred to as the quadruple witching hour.
http://en.wikipedia.org/wiki/Triple_witching
How Does Quadruple Witching Occur?
Quadruple Witching occurs as 4 different types (hence the term "Quadruple") of derivative instruments reach their final trading day on the very same day. In the US market, the final trading day for stock options is every third Friday of each month while the final trading day for single stock futures, options on index futures and certain index futures occurs every third Friday of the quarter; Third Friday of March, June, September and December. The combined expiration of these four derivative instruments creates the Quadruple Witching day. Quadruple Witching only begun after 2001. Prior to the trading of Single Stock Futures in 2001, there was only Triple Witching where stock options, index futures and options on index futures expire on the third Saturday of every quarterly month.
What Effects Does Quadruple Witching Have?
Due to the combined effects of exercise, delivery, hedging, arbitrage as well as speculative options trading and futures trading activity during Quadruple Witching days, the most obvious effect is a dramatic increase in trading volume. In fact, it has been documented that in 2007, both stock and options trading volume during Quadruple Witching days rose by about 55% to 60% more than the daily average for the year.
http://www.optiontradingpedia.com/quadruple_witching.htm
With this out of the way Friday evening, next week there should be a monster ramp up in the Precious metals.
Also TPTB wants the inverse for stocks to ramp the Dow higher. (The call's in the money and the Put's out of the money)
If anyone with more knowledge can chime in, that would be great as I just started researching this part of the market yesterday. Any criticism of my understanding would be greatly appreciated.
BTFD !
There is a better and easier explanation.... Even taxi drivers and housewives have been buying gold these last months. It could go (much) higher later, but for now a lot of weak hands have entered the market.
But my understanding is that by the TPTB crushing the price below the "strike price" it forces margin calls and selling of those derivitives. Your answer was too general. I need someone with more knowledge to confirm my understanding. Thanks for the response anyway !
The probability that the ECB will "FED-style-QE" ranges from zero to nothing. Geithner thinks that every country has a totally corrupted/frauded/selfish congress/treasury/central bank, but the departure of Stark is symbolic for the mindset in Europe => I know from reliable sources (muahahaha, how often do we hear that these days, but this in fact IS reliable) that Stark wasn't the brightest kid of the class, he is being sacrificed by Germany for 2 reasons 1) to replace him with a brighter and even more hawkish guy "trained" by Weber 2) to give a VERY clear signal to the southern countries that Germany is willing to do anything to prevent outright printing from happening in Europe.
Why don't they just declare him a criminal like Kissinger and the rest and arrest him once he sets foot in any country.
Of course, he should be in jail here but we don't have any fukin law that will challenge the likes of him and his asshole potus.
Looks like someone doesn't want to be seen as euro-trash. Well if the euro-zone continues on this course then they will have earned the slight.
Banks and government need to be reduced. Just like a light bill; if you can't pay it, don't run searchlights or christmas lights for the whole trailer park.
Print to the sky or cut to the heart. Its your choice euro-land.
Timmy speaks for me in this matter. Get your shit together Europe and start bailing! In case Stark isn't aware T3 is backed up by that joo in miami. Suck it up Stark and stop being such a pussy.
not sure Stark's rebuke reflects the feelings of the ECB
likely just the opposite as ironically Stark is the oddman out
Geithner is part of the same Cabal as the European Central Banksters
The intraday low for the DJIA on Monday, September 12 was 10,789.87. The DJIA has rallied almost 650 points from those lows within 4 sessions... and the macroeconomic data just released for the US has been dismal.
Gee, there is no op-ex manipulation going on here...
How much more FUBAR can this get.
Pretty funny though, telling Geithner basically to go clean up his total wreck before advising others on how to fix and decorate their homes.
Shove it, Timmah, no one likes a hypocrite.
Geithner = Asshat
Another great Obama pick.
I think Jocelyn Elders [Clinton's Surgeon General] could do better; she could at least show the Europeans how to masturbate properly.
If your gullable and naive' enough to beleive that Obumer (or any other Pres. figure head) picks these people for these banking positions (or defense positions, etc.) then your the asshat. Perfect example of another clueless sheep.
Obama picked him, I didn't.
Go grab some more tinfoil before the store runs out.
Priceless!
I heard that there was a follow-up conversation that someone caught on one of those "open mikes". I can't locate the .MP3, but here's a rough transcript from memory:
JUERGEN: Tim, before you leave, I wanted to give YOU some advice on a jobs plan to take back with you to the states.
TIM: Well, ummm. Sure, I guess. We've already got a jobs plan that Barack is demanding the Congress pass right now, but what were you thinking?
JUERGEN: Well, Tim, you made it your business to come here and give us your unsolicited advice. It's presumptive of you. You're meddling in the affairs of sovereign states. Your selfish policies to export inflation have made things much worse for the rest of the world. Yet, I have a hard time believing you were doing this maliciously. I just don't think you're smart enough to realize how imperialistic and self-centered you are to the rest of the world. So as a gesture of our friendship, I thought this is how we could begin to mend fences.
TIM: Ummmmm. So what are you saying? I... <I-phone rings, it's Brian Sack>
TIM: Brian, hey, can I call you right back, I'm kind of in the middle of something right now. Bye.
TIM: Sorry Juergen -- now what was that jobs plan?
JUERGEN: Tim, how would you like to earn a lot of money planting tulips?
TIM: What? Well, sure, if that could help address our problem with the 99'ers....
JUERGEN: OK. <unzipps trousers> If you'd like to apply, get down on your knees and plant your two lips right here.........
Timmay's selection/pre-confirmation to be SecTres. Closed Door. 'cause a few of our global bailout recipients were present as well.:
'Bammers handlers: Tim, we think you have the right mix of talent to steer the ship out of these rough waters.
Timmy: I'll give it a shot. Whats the Job?
'Bammers Handlers: We need you to paint the boat house at hereford.
Timmay: No problem.
'Bammers handlers: You know what the color of the boat house is right?
Timmay: Sure I do. I can have it painted within a week. When does the flight leave?
'Bammers handlers: Flight? What flight? here is a full palette, canvass and easel.
Timmay: Umm, can I go over to that PC and use photoshop instead?
'Bammers handlers: Sure, but it only has photoshop version 4.0 on there. there is no internet connection to update the software.
Timmay: Is this where you give me a "Darth" before my name?
TIMMAY!!
Aways opt for the double stitch cuz u never know when you'll be out hanging on the ledge.
Are the seeds of destruction imposed by our own dear policymakers being rejected in foreign soil? Or as the ponzi unravels we are beginning to see the jackals turn on each other?
In either case, without much debt destruction and a reformat of the financial system (not to mention the monetary system respective to each country) all the chatter of solutions are merely farts in the wind. The world is insolvent: period and end of story.
Beavis, bitchez!
But, but... that's what he's doin': according to IFO many CDS's are on the books of AIG (i.e. the US government), and Geithner just want to save the US treasury bu forcing the Europeans to save Club Med.
checkbook style
.
http://www.youtube.com/watch?v=vCNLCxPTnpY
(Butt Head to Beavis)- Hey Beavis, pass me the bong you bong hole..yeah yeah... you dumb ass...could you pass me some of your bills to light up this hash,
Hey Butt head, whs this grey haired bitch talking to Fartiromo....She looks like a man with a woman's wig. yeah Cistine Leftguard.
Geithner will be replaced soon if credibility is a card the banksters are still playing! The longer he is Treasury Secretary, the less credible anything coming out of gov. is!...
If Idiocracy (Everybody here is making Mike Judge jokes!) is the direction, then so be it!
This is a great indicator for the rebellion! Kind of like those 'Death Star' schematics smuggled out of the Empire>>>>>>
Rumor has it that Stark is a fool looking for a new job … Long live QE
Fun to watch steaming, reeking turds arguing over whose shit smells worse! It's the universal fart and shit paradox. Your fart and shit, no matter how odious and disgusting, smells oh so sweet relative to someone else's.
Knowing so much about shit has to make u an expert J
I know my shit! Still, not a connoisseur, just an amateur shitologist.
I look forward to people finally snapping and taking out their revenge on timmy and his ilk. The day can't come soon enough. If only i could see the look in his eyes just as the projectile draws blood.
Our "elite" have failedus and their punishment will come; its only a
matter of time.
disclosure- i have no market positions and some physical gold.
wet dream- a bounty on timmy and his network of evil.
Frankly, with all of TPTB bullshit flying around these days, it's impossible to determine a "true message". Best to quietly slip away while these fuckheads bluster their way to the bottom of the sea.
Haha! This is as good as confirmation for my theory that the game at the moment is simple: do not be the first to fail.
The first to fail will be blamed for the entire house of cards.
This is a world first, guys. A true intercontinental battle. A battle of wits, printers, back room negotiations and GAAP changes.
In the red corner, a loose coalition of countries battling for their own longevity, while also trying to ensure their region lasts just a little longer than the opposition.
In the blue corner, a fast fading empire struggling to cling to dominance, twisting and flexing tired muscles. Like Maximus in Gladiatior, it must survive its gaping wound just long enough to see through the king it secretly hates.
Europe vs USA.
Few will survive.
Coming to HBO this fall.
Well know we know where we start the next war at least.
The EU.
Can't dis da Timmmay.............
It sometimes helps to spell things out....
Do the letters "Foxtrot Oscar" mean anything to you Mr Geithner ?
http://www.marketwatch.com/story/financial-crisis-panel-meets-on-global-...
Double post.
That is what a bitch slap feels like from across the pond. I heard it from CA!
Spot on, spot on. Europe knows that by taking the advice of american bankers and govt. officials they where put in this situation over the course of 2 decades. They won't allow that to happen again.
This guy needs to do the right thing just once in his life and resign. Look back at your track record timmy. Knock the "L" off your forehead and do your fellow citizens a favor and quit. How about this.......help make the country a better place for your children, LEAVE already!!!
"human caricature of Beavis" says it all.
The hubris and immaturity of this Administration continue to be manifest in so many ways. Much to the detriment of America and its citizens.
Too bad Stark just resigned probably in dissent to the just implemented dollar-waterboarding-policy advocated by Timmy Turner Geitner...
Shockingly inaccurate and disrespectful article. The fact that Geithner was present in this meeting speaks for itself.
I usually like what i read on ZH but you guys need to grow up and stop trying to turn every single minor event into an opportunity to manifest your contrarian opinions. This is getting ridiculous, and impedes on your credibility.
I'm sure by "European Central Bank Executive Board member Juergen Stark" you mean the "no-longer, former European Central Bank Executive Board member Juergen Stark", right ?