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G7 Considers Issuing Communique: Global Easing Imminent After All?

Tyler Durden's picture


A few days ago we mocked Morgan Stanley's call that the G7 would proceed with a global easing episode over the weekend. We may have been slightly premature. From Reuters: "Group of Seven finance chiefs meeting in southern France are considering issuing a communique after their talks, a G7 source said on Friday.  G7 chair France had said there would be no communique from the talks, but the source said the issue was now being debated and there was a 50 percent chance of a statement.  The source said if there was a communique it would talk about the global economic slowdown, financial market turmoil and the policy tools different countries could use, but it would not make any reference to concerted interventions."

As a reminder, from Morgan Stanley:



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Fri, 09/09/2011 - 10:35 | 1650640 Atomizer
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The Committee on Payment and Settlement Systems (CPSS) aka Red Book. Volume 2 will be release in 2012 which includes UK and United States.

Never let a crisis go to waste. Someone needs to be the sacrificial lamb.

stigmata martyr

Fri, 09/09/2011 - 10:52 | 1650745 markmotive
markmotive's picture

Would it be prudent to own some VIX as a hedge against the insanity?



Fri, 09/09/2011 - 10:34 | 1650641 Robslob
Robslob's picture

Talk is expensive used to be cheap...

Fri, 09/09/2011 - 10:35 | 1650645 snowball777
snowball777's picture

Liquidity, bitchez!

Fri, 09/09/2011 - 10:35 | 1650646 Mitch Comestein
Mitch Comestein's picture

A rainstorm of paper confetti is coming bitchez.

Fri, 09/09/2011 - 10:35 | 1650647 1835jackson
1835jackson's picture

Never underestimate the stupidity of political leaders- 1835jackson

Fri, 09/09/2011 - 10:36 | 1650650 Cognitive Dissonance
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G7 Considers Issuing Communique

Just 9 words needed in the communique.

"Kneel to the AntiChrist. Obey and Serve your master."

Fri, 09/09/2011 - 10:38 | 1650671 Earl of Chiswick
Earl of Chiswick's picture

you wouldn't happen to know the AC's initials would you?

Fri, 09/09/2011 - 10:41 | 1650688 Clorox Cowboy
Clorox Cowboy's picture

I heard there's a 'U' in there, but not sure if it's the first or last letter...

Fri, 09/09/2011 - 11:31 | 1650923 TruthInSunshine
TruthInSunshine's picture

It's time for my EU song; everyone, sing it loudly:


  Na Na Hey Hey Goodbye - YouTube
Fri, 09/09/2011 - 10:40 | 1650682 Smiddywesson
Smiddywesson's picture


Fri, 09/09/2011 - 11:23 | 1650856 Green Leader
Green Leader's picture

Here is a serious man describing what we are about to face, his name is Patrick Heron, from Ireland: 

NWO Propaganda and Return of the Fallen (illuminati, nephelim, antichrist, end times)

Fri, 09/09/2011 - 10:36 | 1650652 Racer
Racer's picture

All blah blah blah, say they will monitor/act in timely manner, but do nothing sensible to fix the problems, like prosecute the banksters and get rid of the FED

Fri, 09/09/2011 - 10:39 | 1650681 SheepDog-One
SheepDog-One's picture

What can they do, print and send everything into a death spiral? Big deal. Just more carrot and stick, all anyone has at this point.

Fri, 09/09/2011 - 10:46 | 1650710 Quintus
Quintus's picture

Yeah, but if it's a choice between printing thereby starting death spiral ending next week and not printing and thereby failing to prevent a death spiral that will end today, they will, of course, print.

A disorderly Greek default will present them with exactly that dilemma.

When it gets close to the end, they'll gladly print $100,000,000,000,000 per day, just to keep the show going until the next day.

Fri, 09/09/2011 - 10:36 | 1650657 vote_libertaria...
vote_libertarian_party's picture

"It may look really bad but we all have printers.  So relax."

Fri, 09/09/2011 - 10:36 | 1650663 Alea Iacta Est
Alea Iacta Est's picture

This news + Talk of Greek Default, both alleged for the weekend = Truth.

Fri, 09/09/2011 - 10:42 | 1650695 Lord Welligton
Lord Welligton's picture

I think most agree that Greece should have defaulted over a year ago.

Their problem now is that they will have to be made an example of in order to dissuade others.

The beatings will continue until morale improves.

Fri, 09/09/2011 - 11:15 | 1650843 gwar5
gwar5's picture

Exactly. Everything is in place.  CHF devalued as safe haven, PMs smash down, Greek default imminent, warnings from IMF & G-7, signals from the squids, a 2 day Sept. Fed meeting coming up, and a trash dump weekend is upon us.  If the EU goes first, it unties Ben's hands.

These guys spend 10% ime on policy and 90% of their time on perception.


Fri, 09/09/2011 - 10:37 | 1650664 walküre
walküre's picture

I want EASING .. my portfolio is running out of liquid soap

I want STABILITY .. the kind that Trichet spoke of

Fri, 09/09/2011 - 10:38 | 1650668 WoodMizer
WoodMizer's picture

According to Bloomberg Timmah said not to expect anything.

Timmah wouldn't lie to us; he does God's work.

Fri, 09/09/2011 - 10:38 | 1650670 Racer
Racer's picture

All a con to keep the market from collapsing

Fri, 09/09/2011 - 10:38 | 1650672 SheepDog-One
SheepDog-One's picture

Ooo they might 'issue a communique' gee sounds so official and all.

Fri, 09/09/2011 - 10:45 | 1650712 Zymurguy
Zymurguy's picture

who keeps junking teh Sheepdog?

Fri, 09/09/2011 - 10:49 | 1650734 SheepDog-One
SheepDog-One's picture


Fri, 09/09/2011 - 10:38 | 1650673 Yen Cross
Yen Cross's picture

I worked  that M/S spread sheet. 2 and one  1/2 Morons?  ( Kill That Fly)....

Fri, 09/09/2011 - 10:38 | 1650675 TradingJoe
TradingJoe's picture

"they got nothing"

Fri, 09/09/2011 - 10:41 | 1650687 SheepDog-One
SheepDog-One's picture

So their option is to print, they have nothing else, and more printing sends everything into faster collapse. So bring it on, carrot and stick boys.

Fri, 09/09/2011 - 10:43 | 1650699 DefiantSurf
DefiantSurf's picture

they can still pull a carrot / stick and save the printing for a coordinated effort Sept 22 after the FED announces theirs, for a race to the bottom

Fri, 09/09/2011 - 10:50 | 1650736 IBelieveInMagic
IBelieveInMagic's picture

What if they print and come down hard on PMs in a coordinated fashion (such as introduce heavy taxes on purchase of PMs) and are able to get the G20 to fall in line as well -- will this ensure the continuity of fiat system?

Fri, 09/09/2011 - 10:52 | 1650743 TradingJoe
TradingJoe's picture

NO! It will be the END of IT!

Fri, 09/09/2011 - 12:21 | 1650767 IBelieveInMagic
IBelieveInMagic's picture

As I see it, the price of PMs rises if the market believes that there is discord between powerful countries (countries that could break ranks and go to a real asset based currency and make it stick unlike Libya) and there is possibility of group of like minded countries continuing to accumulate PMs to ultimately introduce a hard currency. But, if everyone agrees to hold their noses and continue to play along with the fiat games, wouldn't PMs become sidelined?

The fact that even after taking out Libya (and curtailed it's Gold demand), the fact that Gold has continued to climb suggests to me that there is continued scope for breakdown among the powerful countries...

Fri, 09/09/2011 - 10:51 | 1650742 TradingJoe
TradingJoe's picture

That's exactley what I want Sheep, let them print so my shorts go to the moon and pass mars :))) did well on my long carrot futures :))) but i think with greece going down,(finally) I need to be short, I think the scams realize already they won't get shit so my 875ish on the S&P might happen after all or not?!? As always your input is much appreciated!

Fri, 09/09/2011 - 10:58 | 1650766 SheepDog-One
SheepDog-One's picture

Ive looked at my options around the market, and have concluded the best thing for me to do is go to the gun show tomorrow and 'invest' more there!

Fri, 09/09/2011 - 11:03 | 1650791 TradingJoe
TradingJoe's picture

Got my blessing! I'm good in that respect though! Fully stocked!

Fri, 09/09/2011 - 10:38 | 1650677 Clorox Cowboy
Clorox Cowboy's picture

"This is a test of the G7 printer toner levels.  This is only a test.  Return to your posts."

Fri, 09/09/2011 - 10:40 | 1650684 DefiantSurf
DefiantSurf's picture

How do you say "Fuck Greece" in french?


Fri, 09/09/2011 - 10:45 | 1650706 Herman Strandsc...
Herman Strandschnecke's picture

France is et tu greece

Fri, 09/09/2011 - 10:46 | 1650716 Tuco Benedicto ...
Tuco Benedicto Pacifico Juan Maria Ramirez's picture

No, the real question is "if Turkey attacks France from the rear will Greece help"?

Fri, 09/09/2011 - 11:28 | 1650886 Instant Wealth
Instant Wealth's picture

The real question is, if Israel attacks Turkey escorting that ominous Gazah Help Fleet, will the U.S. help their NATO partner ? And what about those 2 russian submarines heading for the mediterranean-rumour ? Turks chatting on the net about Israel supporting the PKK guerrilla in Kurdistan? The coming exploration of a huge natural gas field near Cyprus ? Questions, questions ...

Fri, 09/09/2011 - 10:53 | 1650749 Crisismode
Crisismode's picture




putain la Grèce

Fri, 09/09/2011 - 11:10 | 1650814 oogs66
oogs66's picture


Fri, 09/09/2011 - 10:42 | 1650691 rambler6421
rambler6421's picture

Gold Bitchez

Fri, 09/09/2011 - 10:42 | 1650698 youngman
youngman's picture

I am going long communiques.....sounds good to me...besides gold and silver are down..

Fri, 09/09/2011 - 10:43 | 1650701 DefiantSurf
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Fri, 09/09/2011 - 10:43 | 1650703 Earl of Chiswick
Earl of Chiswick's picture

I don't know how I missed this

Sen. Rand Paul Seeks Vote Of No Confidence In Secretary Geithner - 09/07/11

Fri, 09/09/2011 - 11:01 | 1650781 snowball777
snowball777's picture

Kentucky Community Theater

Fri, 09/09/2011 - 10:45 | 1650707 WoodMizer
WoodMizer's picture

Walmart is starting layaway.

Rent A Center is gonna suffer, along with the sheeple.

Fri, 09/09/2011 - 10:46 | 1650719 Earl of Chiswick
Earl of Chiswick's picture

you mean like in Vegas?

Fri, 09/09/2011 - 10:47 | 1650714 vast-dom
vast-dom's picture

Easing will NOT work.


It will only make matters worse.


MArket will drop into next week and then hopium delurium round 3 until it wears off 3x faster with the shit this time clogging the fan for quite some time. It will get smelly.

Fri, 09/09/2011 - 10:49 | 1650728 SheepDog-One
SheepDog-One's picture

They know easing will not work, thats why theyre strapping sticks with carrots on everything.

Fri, 09/09/2011 - 10:48 | 1650722 SheepDog-One
SheepDog-One's picture

Global easing? More like global gas pouring onto raging economic inferno.


Fri, 09/09/2011 - 10:48 | 1650726 Yen Cross
Yen Cross's picture

Once again Tylers, excellent work!..<> Reality in motion...

Fri, 09/09/2011 - 10:51 | 1650737 Smiddywesson
Smiddywesson's picture

More printing?  Look out PM traders.

If the Swiss destroying their currency was bad for gold, then any financial shenanigans in Europe over the weekend may be bad too. 

Submit.  My reverse logic is inescapable.

On a more serious note, TPTB have drawn a line in the sand at $2000 gold and seem willing to defend it.  Wouldn't you if you were them?  

I see a crash in equities coming next week or the week after when the Fed meets, along with a completely illogical, manufactured, plastic bannana drop in gold prices.  If gold does the logical thing and rises, we are liable to see them use up another precious margin hike, or two, or three.  So far, they have been very stingy with those margin hikes in gold.  If they haven't been saving them to defend $2k, what are they saving them for?  They don't really have any other option.  

Fri, 09/09/2011 - 10:54 | 1650752 TradingJoe
TradingJoe's picture

My guess is they are hedged with GOLD, in case printing really sucks!

Fri, 09/09/2011 - 10:56 | 1650760 SheepDog-One
SheepDog-One's picture

So what, dont TRADE gold day to day, buy and hold for the duration because all they have is money printing, therefore gold wins no matter what they do.

Fri, 09/09/2011 - 10:51 | 1650741 PulauHantu29
PulauHantu29's picture

Print Baby, Print!

Fri, 09/09/2011 - 10:53 | 1650746 buzzsaw99
buzzsaw99's picture

They can't just ease, that won't help insolvency and bonus issues. They need to feed copious euro-bux directly into the gaping maw of the banksters the same way bennie does it bitchez.

Fri, 09/09/2011 - 11:01 | 1650751 Paper CRUSHer
Paper CRUSHer's picture

The other indication i noted yesterday was that the stinkiin' bureaucrats runnin' the BOE decided to stand pat by leaving the bond buying program unchanged so i presumed some form of co-ordinated action would be undertaken soon.

Fri, 09/09/2011 - 10:56 | 1650759 milanitaly
milanitaly's picture

BCE is buying our bunga bunga bonds again. It's all OK there is nothing to announce.

Fri, 09/09/2011 - 12:13 | 1651157 Alea Iacta Est
Alea Iacta Est's picture

I have an idea for the "communique":

"Wail, for the day of the Lord is near! It will come as destruction from the Almighty. Therefore all hands will fall limp, And every man’s heart will melt. And they will be terrified, Pains and anguish will take hold of them; They will writhe like a woman in labor, They will look at one another in astonishment, their faces aflame. Behold, the day of the Lord is coming, Cruel, with fury and burning anger, to make the land a desolation; And He will exterminate its sinners from it. For the stars of heaven and their constellations Will not flash forth their light; the sun will be dark when it rises, And the moon will not shed its light. Thus I will punish the world for its evil, and the wicked for their iniquity; I will also put an end to the arrogance of the proud, and abase the haughtiness of the ruthless. I will make mortal man scarcer than pure gold, And mankind than the gold of Ophir. Therefore I shall make the heavens tremble, And the earth will be shaken from its place at the fury of the Lord of hosts In the day of His burning anger."

Just saying....

Fri, 09/09/2011 - 12:26 | 1651250 Bansters-in-my-...
Bansters-in-my- feces's picture

The fucking Pig Dog MANIPULATORS are at it again are they...?

Imperialist Pigs.

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