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European Market Response: Spring Clip In Italian, Spanish Auctions Triggered
So much for those "fantastic" Spanish and Italian auctions: with one simple announcement, S&P is about to generate substantial losses for all those brave few European banks who took out some of their hard embezzled and repoed cash from the ECB, and bought Italian and Spanish bonds. As can be seen below, the selloff response is rapid and dramatic.'
BTP:
SPG:
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Mission discredit EZ almost accomplished.
Quickly approaching the downward spiral. Wheee! said the turd in the toilet bowl.
Wait, don't forget that once AAA is downgraded to A-, then A- means AAA. Everything is fine. Move along, nothing to see here.
These aren't the droids we're looking for.
Meanwhile, if we just keep repeating the word 'decoupling', the US unwashed will act accordingly.
Too easy.
Rail shipments of the finest meats & cheeses has cratered.
Has anyone else seen collapse in rail traffic?
Don't look at me! I still have my primo French and Italian cheese every day. Can't live without a good tripple cream brie nor an excellent Strachino.
Ship traffic continues to slow down, a small pop for the holiday season was noted by Harper Peterson, will more than likely completely fall off in next few months. http://www.harperpetersen.com/harpex/harpexRH.do?timePeriod=Months3&&dataType=Harpex&floatLeft=None&floatRight=None
S&P will go out of business over the next 12-24 months. Europe's governments and the ECB are really having enough now. If I was a S&P employee I would start searching for a job elsewhere asap.
Don't cound on it. Just lip service for the masses. The talking heads there know that a spineless, ignore-all-bad-news rating agency would be worthless.
I can quadruple my $ in one year Greek bonds!!
I thought your comment was funny at first, but then I saw your name and avatar and I just can't stop laughing. Go figure...
Too bad the impending Hellenic fiscal & monetary Hell is not going to give you that year in which to do so.
ugh, some bitch
The banks that bought these bonds did not forsee this coming? Really? I am calling black swan here. France upgrade today.
I agree AAAA for France. Those bitches deserve it.
Upgrade the EFSF well they are at, and let those EU bank quad down on those bonds.
ahhh You had to call it! Not a black swan event anymore.
ouch
It couldn't happen to a better group of criminals. Unfortunately they will be rewarded with more embezzled cash.
QE3, here we come. JPM/GS/C/BAC need their IBD revenues to pickup.
Unrelated, seen the BDI? Wow.
Hilarious drama - like a soap opera. I am going back to watching the ping pong tourney between Orange and Juice.
//SORTWK05 DD SPACE=(CYL,200,,CONTIG),UNIT=SYSDA
//SORTWK06 DD SPACE=(CYL,200,,CONTIG),UNIT=SYSDA
//SORTIN DD DISP=SHR,DSN=COM.J058568.V3JAN.FRWD
//SORTOUT DD DSN=COM.J058568.Q4110113.NCOA.SRT,DISP=(,CATLG,DELETE),
// DCB=(RECFM=FB,LRECL=1300,BLKSIZE=0),
// UNIT=DISK,SPACE=(CYL,(100,10),RLSE)
//SYSIN DD *
SORT FIELDS=(1001,08,CH,A)
JCL script injection will not save the banks. But my harddrive just started spinning uncontrolably.
That stuff looks remotely familiar. Now, where have I seen that before...?
"Hi Armor Industries, this is Bob over at S&P, I need an update on my order."
"Oh, Hi Bob, no problem, that kevlar encased car is ready and your custom armor plated safe room walls are ready to ship today."
"I Forgot to mention, your body armor order is a little behind, the design team had a little trouble coming up with that helmet you were looking for."
"In the meantime, don't downgrade any sovereign bonds, and you should be good to go, and for fucks sake don't go on CNBC anytime soon."
"Ok, thanks!"
"Oh fuck, Bob, what have you done?"
THANKS CoU! I just blew nose coffee all over my keyboard!
How very conical of you.
Although the circular logic of your scenario, combined with several unnecessary tangents, elliptical references and disconnected points, while intersecting a number of real-life parallels, elevate the line of discussion into another plane altogether, while at the same time being so hyperbolic as to be considered almost exponentially absurd.
The Universe runs on conic sections...
Ouch ECB Deposit Facility to infinity and beyond. S&P just destoyed what little bit of effectiveness the LTRO had. Nice!
PAIN
This is what clipped the risk tails....real time news from FNN24 says imminent downgrade for EURUSD. Immediately EURUSD slips.
http://fnn24.com/?p=37353
So, the financial war continues. The dollar is still king. US debt trading at all time lows. Isn't it amazing we hear little talk about the dollar losing it's reserve status, so the US remains the king of the hill.
As much as I despise them, you have to give it to the US "money managers". They are playing the game to the max. Of course, when you start with the reserve currency, you have a major advantage.
and still Stocks will climb when Europe shuts 2hours from now !
print more by Monday, please.
Wow, 10-yr. yield at 1.86%!!!
There cannot be a bond bear left alive.
Hands down, this is the biggest bubble ever.
People are piling into Treasuries in droves.
Bill Gross is alive. Poorer, but alive.
My brain reels in shock:
Sense at last from RobotTroll?
Has Hell froze over?
Are those called "V-shape" recovery in English?
relax guys, Europe is fine, really.
Spain is fine.
Italy is fine.
Greece is ok and getting better.
England is just ducky.
France is AAA fine.
Ireland doesn't count anyways.
Germany is uberfine.
so don't worry, hell don't even give it a second thought (or a first one, like most other sheep, err, people), because it's it's all good...honestly. jump in wallet first, the waters fine buy, buy, buy, we really don't care what, just buy something.
and if you find yourself halving anxieties, doubts, second thoughts or a sudden desire to hide all your cash under the mattress, just take a deep breath, close your eyes and repeat the above mantra. now, it may start to sound like a satanic chant after the first few run throughs, but you know what? that's ok too. or if you prefer, our pharmaceutical subsidiary, Umbrella corp., has a pill that can help you manage those symptoms, relieve you of tension and stress as well as all those other symptoms that inhibit your ability to get through the day and get laid, like critical, independent thinking. what do you need that for when you have Istuff to do it for you?
if we all work together, we can achieve 100% green markets all the time, infinite growth and prosperity for every one, remember friends, green markets are not just good for the economy, they are also good for mother earth...cause a green market is an environmentally friendly, energy efficient market. do your part for the future, cash in those pm's, buy stocks, buy bonds, buy paper and help us make the world a better, greener, place.
thank you,
Banksters united for a better world.
Source of the 'news' is probably Reuters... so expect a downgrade of Italy and Spain. That's it. Good opportunity to buy, in my humble opinion.