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G7 Preparing Statement To Support Dollar, EU, In Fact Everything That Would Otherwise Collapse Tomorrow, Before Asia Open

Tyler Durden's picture





 

Just out from Bloomberg: Finance ministers and central bankers are preparing a statement to release before the open of Asian markets, the Nikkei newspaper reported, without citing anyone. Japan may intervene in currency market if dollar falls. G-7 finance ministers, central bankers expected to express confidence in dollar, pledge liquidity. U.S. to explain fiscal rebuilding efforts." [so no more sniping at S&P and actually doing its job eh?] "Japan to express intention to maintain Treasury holdings. G-7 expected to show support for EU fiscal efforts." And while the G7 is about to realize that when faced with a $100 trillion (equities plus debt) market onslaught its printing powers are next to laughable, Dow Jones reports that the "ECB is weighing Italian, Spanish bond buying on a massive scale." Two take homes: i) the Fed has just lost its competitive advantage of doing idiotic things on a massive scale as the world wake up to tits trickery (unless of course the Fed resumes said thing on a massiver scale, which it will), and ii) tomorrow is the day when the infinite force of central planning meets the immovable object of capital markets. We will find out who blinks first in a few hours.

 


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Sun, 08/07/2011 - 13:40 | Link to Comment KennyG09
KennyG09's picture

tits trickery. lulz

Sun, 08/07/2011 - 13:50 | Link to Comment Libertarians fo...
Libertarians for Prosperity's picture

All of this drama from a ratings agency that scores BofA equity 5 out of 5 stars, as its collapsed ~50% in 6 months, and headed toward zero?

All of this drama from a ratings agency that MISSED THE ENTIRE FINANCIAL COLLAPSE, and had buy recommendations on companies while they went bankrupt?

LOL

I'm not defending the US dollar or US policy makers, but the S&P is a joke.  With this recent downgrade, the S&P is merely riding the coattails of popular opinion, looking to re-establish some sort of relevency as it continues to prove its utter worthlessness.

Sun, 08/07/2011 - 13:53 | Link to Comment tmosley
tmosley's picture

So you are saying that Moody's and Fitch, which also missed the subprime catastrophe, are more accurate?

Or are you just so stupid and biased that you can't see that their bias is to the upside on both MBS and US debt?

Sun, 08/07/2011 - 13:59 | Link to Comment Libertarians fo...
Libertarians for Prosperity's picture

WTF? 

Can you point to the part of my post where I made reference to Moodys and Fitch, let alone mentioned they were more accurate?

Your post is completely ridiculous.

 

 

Sun, 08/07/2011 - 14:04 | Link to Comment tmosley
tmosley's picture

You are implying that you think that the US is still a AAA credit risk, which is where Moody's and Fitch put it.

I would argue that your post is ridiculous, as are all your posts, opinions, and attacks.  Indeed, I don't know why you stick around.  You should be out hanging around with the rest of the normalcy bias addled sheep shopping for iPads.

Sun, 08/07/2011 - 14:20 | Link to Comment ZeroPower
ZeroPower's picture

T,

While i wouldnt bring up anything about either the other 2 agencies, or those old MBS ratings into the current discussion, i stand wth the few who do agree the rating downgrade was ridiculous and unnecessary. 

Yes, we know the debt situation is totally unsustainable and solving the debt limit crisis by increasing the debt limit is not at all a solution, but you have to look past the explicit action which was the actual downgrade on friday and ask, why? S&P just wanted to pretend like theyre ahead of the curve in this. We know for a fact they never were, and probably never will be (in this case, its a game of politics - something which has been much discussed before).

We'll see how the S&P reacts to any outstanding EU countries that arent still at their proper levels on the rung. Anectodally, last friday on the credt side there was some flow coming into LatAm CDSs (long risk) merely due to the fact that some of those countries now trade at tighter spreads than 'staple' European ones! Whether or not CDS spreads frontrun ratings down/upgrades is another story, but we shall on keep our eyes on this in the coming important weeks.

Sun, 08/07/2011 - 14:29 | Link to Comment tmosley
tmosley's picture

What the fuck is going on here?  Did the community of ZH go full retard while I have been too busy to comment actively the last several weeks?

THE POINT OF RATINGS AGENCIES IS TO APPROPRIATELY RATE DEBT.  Currently, US debt is literally can not be repaid.  This is the antithesis of the AAA rating.  It should be junk, MAYBE a bit above.

Sun, 08/07/2011 - 14:35 | Link to Comment tmosley
tmosley's picture

Also funny that the only posts being modded in this thread in bulk are mine and these trolls.  I outed "Libertarians for Progress" (along with his numerous other incarnations) as having access to some form of protools which record any and all changes to posts, as he jumped all over a post that I modified within 5 seconds of posting it an hour after I did that a while back.  It looks like he's up to his old tricks, and has registered numerous fake accounts which he is using to upvote himself and the other trolls, and downvote anyone who says anything against him.

What a fucking joke.  Some people have too much spare time on their hands.  

Sun, 08/07/2011 - 14:40 | Link to Comment Zero Hedging
Zero Hedging's picture

Are you guys 10 years old??  

Sun, 08/07/2011 - 14:46 | Link to Comment Thomas
Thomas's picture

Would that be great or what? Just heading into our prime grope and gulp years. Oh to do it all over again.

Sun, 08/07/2011 - 15:24 | Link to Comment tmosley
tmosley's picture

10 years old and apparently RIGHT, because no sooner did I point it out than the up/down votes were disabled.  I would guess that they looked at the IP addresses and noticed they all came from the same one, or from the same block, or from TOR exit nodes or some such.

Sun, 08/07/2011 - 15:32 | Link to Comment tmosley
tmosley's picture

For my next highly insightful prediction, I predict a Slashdot-style karma system will be implemented such that these fools won't be able to manipulate the moderation any more.

But since that is a pain in the ass, I wouldn't expect it for a couple of months at least, especially with all these server meltdowns they have been having.

Sun, 08/07/2011 - 14:39 | Link to Comment narapoiddyslexia
narapoiddyslexia's picture

S&P has made it explicit the emperor has no clothes. We've known it all along, but Joe the Six-pack drinker, has not. Now, maybe, JSP is slowly raising his unshaven face to the light, saying, "Huh?" This, the politicians do not want.

Why S&P has decided to do this is not important, at least, not important to me. 

Sun, 08/07/2011 - 14:42 | Link to Comment Mesquite
Mesquite's picture

Hope you're feeling better soon, tmosley...

Personally attacking people for having different opinions ,

is..well sad..There is already enough of that in the world..

Be safe n well all..

Sun, 08/07/2011 - 14:43 | Link to Comment ZeroPower
ZeroPower's picture

THE POINT OF RATINGS AGENCIES IS TO APPROPRIATELY RATE DEBT

 

Yes, but we know of the ratings agencies as always being behind the curve, hence the mockery most people associate towards the agencies. If rating agencies truly were the appropriate risk assessors, the market would wait for THEM to initiate a downgrade (or up) and then move in-line to either decreasing the price of their bonds, a widening of the entities CDS, etc etc basically any means necessary to say 'we believe the rating agency does their job, and thus the market trades on this a posteriori.

But, looking at what was happening in Greek CDS ever since over a week ago, taking a look at what is happening in the periphery+belgium+France the past few weeks, one can determine unfortunately the rating agencies clearly not only as beneficial as one would hope, but basically have little to say in the grand scheme of things.

Note that Moodys will likely never ever downgrade the US, since the Omaha is their Boss. And yet again we see a conflict of interest which is quite prevalent at Moodys, and surely exists somewhere inside S&P as well.

Sun, 08/07/2011 - 14:30 | Link to Comment macholatte
macholatte's picture

the rating downgrade was ridiculous and unnecessary. 

Is it important who or what took action to get the attention span focused on this problem?

Yes the rating agencies have a poor track record and have a lot of work to do to gain credibility. Let us hope that credibility is what they want and actually evolve and become an unbiased third party "watch dog" as they were meant to be. Will the other agencies now follow S&P? Will the Congress return and get to work to fix the mess? What will the ratings be next week for Jersey Shore?

Sun, 08/07/2011 - 14:36 | Link to Comment cossack55
cossack55's picture

CONgress will probably return in order to be protected by the DC Mili/Pol resources, but get to work.  That was a good one.

LMFAO

Sun, 08/07/2011 - 14:53 | Link to Comment Mountainview
Mountainview's picture

I start to look only at Datong ratings... For tomorrow, the FED will come in tobuy T-bonds and than the USD will take it on it's chin! My bet!

Sun, 08/07/2011 - 14:29 | Link to Comment Freewheelin Franklin
Freewheelin Franklin's picture

Not sure, but  think he is implying that the US should have been downgraded years ago.

Sun, 08/07/2011 - 14:41 | Link to Comment geminiRX
geminiRX's picture

All I know is that a lot of vacations to the Hamptons probably got cancelled.

Sun, 08/07/2011 - 15:32 | Link to Comment trav7777
trav7777's picture

you stupid dipshit, at no point did he say ANYTHING about the US's deserved credit rating, NOR about other raters.

What he DID SAY was that SP is stupid and useless and only did this downgrade as a political statement to try to rehab their reputation.

Maybe you just can't fucking read?

Sun, 08/07/2011 - 15:35 | Link to Comment tmosley
tmosley's picture

Oh look, it's Trav the Lonely here to take advantage of any quasi opportunity to try to tear down the man who has proven to be better in every conceivable metric than himself.  Imagine that.

Here, he proves that he is neither capable of remembering past conversations, NOR reading between the lines.  It is further implied that he doesn't understand the motivations of ANY party involved in any conversation he butts his big fat nose into.

Sun, 08/07/2011 - 15:47 | Link to Comment r101958
r101958's picture

You should have been calling them stupid and useless prior to this latest edict. At least for once, this time, they made the right call. This makes them at least a notch better than the other two clusterfrig rating houses.

Sun, 08/07/2011 - 16:28 | Link to Comment NumNutt
NumNutt's picture

I love fight club! Ooops...forgot....never talk about f.c.......

Sun, 08/07/2011 - 14:17 | Link to Comment BrianOFlanagan
BrianOFlanagan's picture

@tmosley

I suggest you look up the word "tact" and try using the concept in your posts.

http://dictionary.reference.com/browse/tact

 

Sun, 08/07/2011 - 14:30 | Link to Comment tmosley
tmosley's picture

Right, this coming from the jackass troll Brian OFlanagan.  Go fuck yourself, no-one is interested in anything you have to say.  How's that for tact?

Sun, 08/07/2011 - 14:34 | Link to Comment cossack55
cossack55's picture

Could still use a little work.  LMFAO

Sun, 08/07/2011 - 14:41 | Link to Comment narapoiddyslexia
narapoiddyslexia's picture

Ha...

Sun, 08/07/2011 - 14:40 | Link to Comment BrianOFlanagan
BrianOFlanagan's picture

indeed, just a little.

Sun, 08/07/2011 - 14:14 | Link to Comment Lednbrass
Lednbrass's picture

Though their previous incompetence is obvious, as far as I can tell the section of the Donk financial reform that actually makes ratings agencies liable for farcical ratings is still written into the law even though the SEC has publicly stated that they wont enforce it.

They have to be more realistic now, though the toothless regulators wont do anything I suspect they rightly fear a school of sharks with JD's tucked under their fins.

Sun, 08/07/2011 - 14:04 | Link to Comment disabledvet
disabledvet's picture

we like tits trickery. i just posted some here about a week ago. it fell under the title "why Americans will actually celebrate a Double D rating when it comes."
http://www.youtube.com/watch?v=ol_aamH2mHM&feature=player_detailpage
just in case you forgot.

Sun, 08/07/2011 - 14:36 | Link to Comment DeadFred
DeadFred's picture

Some typos are more equal than others

Sun, 08/07/2011 - 15:55 | Link to Comment toady
toady's picture

Thats what she said(does).

Sun, 08/07/2011 - 17:08 | Link to Comment tictawk
tictawk's picture

If they REALLY want to defend the dollar, then at a minimum it means no more QE3 and it means a raise in SHORT term interest rates to attract capital to US shores.  If the Fed will not do it, China and Japan simply have to dump their holdings and long rates will rise.  In fact neither wants to yell dump but if you were to yell "dump" (panic), you have to be sure that you are near the exit.

Sun, 08/07/2011 - 13:41 | Link to Comment Azannoth
Azannoth's picture

Bank Run! Bitchezzzzz better make a full ATM withdrawal ASAP

Sun, 08/07/2011 - 14:00 | Link to Comment jplotinus
jplotinus's picture

Chill. The masses are not in the least concerned about the downgrad or what the markets might or might do tomorrow; for, whatever it is the markets do tomorrow, they are likely to do the exact opposite the day after.

Here's why:

If the Internet and ZH, not necessarily in that order, had been in existence in 1971, when Nixon yanked the gold out from under the $$$, the hue and the cry of collapse would have been as loud or louder than it currently is; and that for good reason. Turning the $$$ into a fiat currency was a massively deceptive thing to have done; yet, the financial system did not collapse and Americans who were as gun loving then as they are now, did not need to kill themselves or each other with their guns at any greater (or lesser) rate than they otherwise would have done anyway.

So, once again,

CHILL!

Sun, 08/07/2011 - 14:40 | Link to Comment Freewheelin Franklin
Freewheelin Franklin's picture

The masses are not in the least concerned about the downgrad or what the markets might or might do tomorrow;

 

After subjecting myself to watching CNN for a little while yesterday, I think the "masses" will be worried about the interest rates on their maxed out credit cards. Personally, I wouldn't mind a few basis points on my money market account. 

Sun, 08/07/2011 - 15:57 | Link to Comment tekhneek
tekhneek's picture

You have some cash in a money market account? That's hilarious. What's your rate? 1.5% LOL.

Should have just´bought gold, man. Best savings account.

Sun, 08/07/2011 - 14:41 | Link to Comment CynicLaureate
CynicLaureate's picture

> ... when Nixon yanked the gold out from under the $$$ ...

Please, that was only "temporary" :-)

 

Sun, 08/07/2011 - 19:20 | Link to Comment MrSteve
MrSteve's picture

Don't say temporary, today's NEWSPEAK word is "transitory". Gentle Ben said that. He is a closet bear from an old TV show and currently in charge of the FED.

Imagine how great things would be if competent people were making fiscal nad financial policy. There's hope!

Sun, 08/07/2011 - 19:21 | Link to Comment MrSteve
MrSteve's picture

Don't say temporary, today's NEWSPEAK word is "transitory". Gentle Ben said that. He is a closet bear from an old TV show and currently in charge of the FED.

Imagine how great things would be if competent people were making fiscal and financial policy. There's hope!

Sun, 08/07/2011 - 14:21 | Link to Comment Waffen
Waffen's picture

I cahsed out 80% of my bank account saturday morning.   All the teenybopper banker girls were all wondering wtf I was gonna do with so much cash.  I was suprised to hear that there wasnt an uptick in withdrawls that AM.

 

Sun, 08/07/2011 - 16:26 | Link to Comment jplotinus
jplotinus's picture

Oh boy. Can you not just chill? A bank run is unlikely unless and until there is no gas at your local Exxon/Chevron/Amoco/Citgo/etctero station; and, at the same time, nothing on the shelves at WalMart.

That situation is not imminent, as joe6 sees it, thus, no need to panic.

 

Chill

Sun, 08/07/2011 - 16:55 | Link to Comment HyperLazy
HyperLazy's picture

The last time I pulled a stack o' cash out of my bank account the tellers gathered around and joyously cheered, "HyperLazy's throwin' a Pahrtay!".

Then I told them, "Your all not invited." LOL

Sun, 08/07/2011 - 13:42 | Link to Comment Boilermaker
Boilermaker's picture

So, in other words, they'll do whatever the fuck they want to do.

Sun, 08/07/2011 - 13:49 | Link to Comment CrashisOptimistic
CrashisOptimistic's picture

 

All of them will.  

This is the lesson of the last two years.

Governments will do ANYTHING to keep it all going.  This should not surprise us.  Their positions depend on "it all going".  If they let it stop going, they lose everything.

The real issue and surprise in this is not them doing it.  It's the definition of the word "Anything".   They've already tried to murder Gadaffi.  There is really no limit at all.

Sun, 08/07/2011 - 13:49 | Link to Comment Boilermaker
Boilermaker's picture

No kidding.  What's more disgusting is that you come to a realization that the last 30 years or so have been nothing but bullshit also. 

Are they just going to declare that things are better?  Seriously, they'll just intervene to no end?

Sun, 08/07/2011 - 14:38 | Link to Comment cosmictrainwreck
cosmictrainwreck's picture

affirmative to all points. will continue till it is literally fucking impossible to do otherwise, any and all actual effects, pro or con, notwithstanding. it's what they do. PS: after "impossible" they simply change the rules (again)

Sun, 08/07/2011 - 13:43 | Link to Comment ATM
ATM's picture

I am ATM

Sun, 08/07/2011 - 13:43 | Link to Comment slaughterer
slaughterer's picture

Please post the statement when it is made accessible, ZH.  Besides the Fed announcement on Tuesday, and sundry anouncements from ECB and Germany, this G-7 statement will be the most important statement of the week.  

Sun, 08/07/2011 - 13:43 | Link to Comment Bam_Man
Bam_Man's picture

Just pray that they don't mention the words "well capitalized".

Because we all know what that means.

Sun, 08/07/2011 - 13:44 | Link to Comment Jack Burton
Jack Burton's picture

We all saw this coming. ECB printing on a massive scale. What else can they do, print and print and print. It's their only way out for the short term, otherwise markets tank on a grand scale tomorrow.

 

Sun, 08/07/2011 - 13:45 | Link to Comment Boilermaker
Boilermaker's picture

And that plunges the EUR which pushes up the USD and JPY which screws us.  So, then what?

Sun, 08/07/2011 - 14:13 | Link to Comment Quixotic_Not
Quixotic_Not's picture

And that plunges the EUR which pushes up the USD and JPY which screws us.  So, then what?

U$D and JPY is printed into oblivion and the EUR reaches par and over shoots again, even though EUR is more upside-down...

Rinse-Wash-Repeat until the cities start burning enmasse.

EOM

Sun, 08/07/2011 - 14:41 | Link to Comment Azannoth
Azannoth's picture

They will be playing this game 'Oh look the USD is up against the EUR' oh no the 'JPY is down against the USD' till gold gets to 10k and all fiat currencies self immolate

Weimar Republic Bitchezzz

Sun, 08/07/2011 - 14:54 | Link to Comment nodhannum
nodhannum's picture

I think the "huns" might have a thing or two to say about printing on a massive scale since they are the ones that will be paying for it.  They should say to the french (who are really the ones at risk) ficken sie!

Sun, 08/07/2011 - 13:44 | Link to Comment dick cheneys ghost
dick cheneys ghost's picture

kinda feels like christmas eve when you are about 6 yrs old.......

Sun, 08/07/2011 - 13:50 | Link to Comment Transitory Disi...
Transitory Disinflation's picture

haha yeah.  I bet no one gets any sleep tonight :)

Sun, 08/07/2011 - 13:56 | Link to Comment espirit
espirit's picture

I will.  Net neutral, and long physical PM's.

Foolish to trust conviction in any market direction.

Sun, 08/07/2011 - 13:57 | Link to Comment johnnynaps
johnnynaps's picture

I was just thinking the same! I know i will personally be ready to hit the atm if necessary!

Sun, 08/07/2011 - 14:43 | Link to Comment geminiRX
geminiRX's picture

Assuming ATMs work...

Sun, 08/07/2011 - 16:42 | Link to Comment NumNutt
NumNutt's picture

I work for a company that provides global ATM connectivity. I will know tonight (late) if people in Europe start to run to them for money. I will be at my ATM shortly there after. If I start to see traffic valumes pick up I will post a notify on ZH for everyone, after I get back from getting my cash. Every man for himself bitches!

Sun, 08/07/2011 - 15:22 | Link to Comment Ghoaster
Ghoaster's picture

..more like the superbowl for me, and I hate football. But our team is winning.

Sun, 08/07/2011 - 13:45 | Link to Comment Dre4dwolf
Dre4dwolf's picture

The downgrade is targeting Treasuries IMO, the Elite don't want people to flood their money into US treasuries, so they downgraded the credit as a scare tactic.

 

They would much rather have you put your money into the failing EU to help them bail out their pet tax farm project.

 

Everyone should invest heavily in US treasury due to the downgrade.

 

 

Sun, 08/07/2011 - 14:39 | Link to Comment Sophist Economicus
Sophist Economicus's picture

Timmaaay, Is that you?

Sun, 08/07/2011 - 15:49 | Link to Comment r101958
r101958's picture

If anything the downgrade is targeting the scrogmasters in D.C., as it should.

Sun, 08/07/2011 - 13:45 | Link to Comment Atomizer
Atomizer's picture

We will not collapse tomorrow. Just more policy writing to contain control. Instilling fear on the lemmings is protocol.

Sun, 08/07/2011 - 14:46 | Link to Comment geminiRX
geminiRX's picture

A 6 percent drop is a very big deal if the the Dow mimics middle east market movements

Sun, 08/07/2011 - 15:02 | Link to Comment sheeple2012
sheeple2012's picture

If you're talking about Israhell and Saudi mkts. they were closed friday and saturday, so move was expected based on US thursday plunge

Sun, 08/07/2011 - 13:47 | Link to Comment OS2010
OS2010's picture

The EU position, stated another way:

"We will do for the US what we did for Greece!"

Sun, 08/07/2011 - 13:54 | Link to Comment Sudden Debt
Sudden Debt's picture

Germany to US: EAT MY SWASTICA BITCH!

 

Sun, 08/07/2011 - 14:14 | Link to Comment disabledvet
disabledvet's picture

To which i respond "we are all jelly donuts now."
http://www.youtube.com/watch?feature=player_detailpage&v=hH6nQhss4Yc

Sun, 08/07/2011 - 13:47 | Link to Comment Sudden Debt
Sudden Debt's picture

Let's see if the banks agree and don't start to dump bonds....

Let's hope the bank shareholders agree and don't start to dump bank stocks...

Let's hope the retail investors are all in for the VERY LONG run and don't start dumping stocks...

Let's hope nobody looks for better investment tools that do still have tripple A ratings...

Let's hope retail investors don't start a bank run and go all in into the PM's....

Let's hope no taxpayers start to riot because governments are going to throw in 20% inflation and gamble entire GDP's away with a sure loss....

Let's hope everybody is as dumb as a mule and believe the propaganda that they'll print...

 

Be me? I believe the shit is going to come down. IT'S GOING TO RAIN SHIT TOMORROW!!

WHICH STOCK MARKETS WILL BE CLOSED BEFORE NOON IN EUROPE?!

WILL THE US STOCK MARKET CLOSE BEFORE NOON?!

 

I SAY: YES THEY WILL!

Sun, 08/07/2011 - 14:15 | Link to Comment Troy Ounce
Troy Ounce's picture

 

Naah. One word: PPT

Sun, 08/07/2011 - 15:50 | Link to Comment r101958
r101958's picture

Yup, but, will they wait until the normal 10:30a timeframe?

Sun, 08/07/2011 - 17:40 | Link to Comment BurningFuld
BurningFuld's picture

I'm going with SD on this. Too much media coverage. I think a lot of Mom and Pop investors are going to try to cash out tomorrow.

Sun, 08/07/2011 - 14:16 | Link to Comment Quixotic_Not
Quixotic_Not's picture

Doesn't take much to make you giddy does it?

Sun, 08/07/2011 - 14:20 | Link to Comment disabledvet
disabledvet's picture

Looks like his sock puppet got up on the wrong side of the bed this morning. Let us finish this thought process so that we may understand there is a solution:
http://www.youtube.com/watch?v=4JVkonHpxKk&feature=player_detailpage

Sun, 08/07/2011 - 14:33 | Link to Comment escargot
escargot's picture

"Let's hope everybody is as dumb as a mule and believe the propaganda that they'll print..."

No need for hope.  That wish has already come true.  Tomorrow will be anticlimactic.

Not to change the subject, but you have the greatest avatar of all time.  That thing is a perfect visual representation of my general sentiment, and I'm sure I'm not alone.

Sun, 08/07/2011 - 17:07 | Link to Comment NumNutt
NumNutt's picture

Hmmm, does this mean I can send a "fuck you " note to my mortgage company?

Sun, 08/07/2011 - 13:47 | Link to Comment Life of Illusion
Life of Illusion's picture

 

Japan taking all those dollars from China must place somewhere. They spin it like Japan is doing a favor supporting dollar assets.

ha

 

Sun, 08/07/2011 - 13:52 | Link to Comment Sudden Debt
Sudden Debt's picture

Did you know that Japanese Benjamin bills glow in the dark?

 

Sun, 08/07/2011 - 13:49 | Link to Comment Sudden Debt
Sudden Debt's picture

PS: MERKEL AND SARKOZY WILL NOT GIVE A STATEMENT THIS EVENING!

 

SHIT MEET FAN, FAN MEET SHIT!! NOW FLIP THAT SWITCH!!

Sun, 08/07/2011 - 14:22 | Link to Comment disabledvet
disabledvet's picture

Chimay, bitchez!

Sun, 08/07/2011 - 14:39 | Link to Comment scatterbrains
scatterbrains's picture

If this is true I'll be waiting for the APMEX blue light specials in the next few days.

Sun, 08/07/2011 - 15:45 | Link to Comment Tuco Benedicto ...
Tuco Benedicto Pacifico Juan Maria Ramirez's picture

I think you are confusing APMEX with K-mart?  Haven't seen many APMEX "flash sales" lately.  But, Mr. Market may give us a short term buy opportunity this week?!

Tuco

Sun, 08/07/2011 - 14:40 | Link to Comment scatterbrains
scatterbrains's picture

.

Sun, 08/07/2011 - 13:49 | Link to Comment slaughterer
slaughterer's picture

Everything a last-minute band-aid.  The g-7 statement just a few hours before Asian markets open.  The debt ceiling just a few hours before default.  What the fuck?  No use being too far ahead of these developments and short selling weeks ahead.  They are all last minute rescue operations.  Highlights the absolute delinquency which existed beforehand.  

Sun, 08/07/2011 - 14:44 | Link to Comment macholatte
macholatte's picture

Everything a last-minute band-aid.  

That's because there are politicians at the helm. The empty suits (and dresses) don't have a clue or this mess wouldn't exist. They need to be told what to say, what to do, how to act, etc. etc. And, most importantly, what their campaign donors think. Getting re-elected, staying in power, that is the primary directive.

Power & control. Control = Power.

Sun, 08/07/2011 - 13:49 | Link to Comment max2205
max2205's picture

STR. sell the rips.

Sun, 08/07/2011 - 14:37 | Link to Comment TwelfthVulture
TwelfthVulture's picture

BTFD STR is the new BITCHEZ!

Sun, 08/07/2011 - 13:50 | Link to Comment onlooker
onlooker's picture

Special Showing Tonight:: Asia Markets. 1st Time Release of America after the Brink. BETTER THINGS FOR BETTER LIVING exposed to the Public.

Sun, 08/07/2011 - 14:01 | Link to Comment espirit
espirit's picture

Guaranteed to keep you on the edge of your chair, better than anything on the telly.

Sun, 08/07/2011 - 14:06 | Link to Comment wisefool
wisefool's picture

I also noticed that all the MSM outlets are running special live coverage of the Asian open tonight at 21:00 EDT. CNN,Fox, Fox business, MSNBC, CNBC, etc.

They must be getting pretty scared of people tuning to places like ZH. I expect the "A list" talent. Low cut tops, strong jaws, perfect hair on everyone. Dressed to the nines with camera angles that show quite a few profiles.

.... And people complain about the 40 x 40 pixel avatar pics on here. 

Sun, 08/07/2011 - 14:15 | Link to Comment Captain Benny
Captain Benny's picture

If I got to see some Becky Quick bouncing breasts on CNBC, I might be more inclined to watch their propaganda.  ZH supporting animated avatars is quite a treat.

Most of the women that work at Bloomberg are quite the eye candy.  Keep an eye on the background during their broadcasts ;-)

Sun, 08/07/2011 - 14:18 | Link to Comment wisefool
wisefool's picture

dont get bloomberg. but the most sarcastic thing I ever saw was when my DVR taped a Fox News show called "Red Eye." The show itself is just over the top sarcasm --but for-- the segment they run called "Courtney Freil Working out"

Sun, 08/07/2011 - 15:43 | Link to Comment Tuco Benedicto ...
Tuco Benedicto Pacifico Juan Maria Ramirez's picture

Zero Hedge is now MSM.  You are referring to the establishment, dinosaur, coporate, dying media.

Tuco

Sun, 08/07/2011 - 13:51 | Link to Comment kito
kito's picture

Quantitative Heaving has begun

Sun, 08/07/2011 - 14:07 | Link to Comment MsCreant
MsCreant's picture

And Hoeing.

Sun, 08/07/2011 - 14:34 | Link to Comment Bam_Man
Bam_Man's picture

Is that "Hoenig" spelled sideways?

Sun, 08/07/2011 - 14:34 | Link to Comment Roger Knights
Roger Knights's picture

And qualitative oozing.

Sun, 08/07/2011 - 14:44 | Link to Comment akak
akak's picture

To be followed by:

Quantitative Weasling (of Obama and Congress)

Quantitative Teasing (by the corporate media parrots --- "All is well, nothing to see here!")

Quantitative Freezing (of worldwide financial markets)

Quantitative Wheezing (of Bernanke, Geithner, Trichet et al)

Quantitative Squeezing (of the taxpayer, to pay for the entire mess)

Sun, 08/07/2011 - 14:57 | Link to Comment snowball777
snowball777's picture

Don't forget the sleazing, cheesing, and seizing.

Sun, 08/07/2011 - 13:52 | Link to Comment Josh Randall
Josh Randall's picture

Scared, B!tches ?

Sun, 08/07/2011 - 14:08 | Link to Comment MsCreant
MsCreant's picture

Yeah. And you fellow bitch?

Sun, 08/07/2011 - 14:17 | Link to Comment cossack55
cossack55's picture

More like pensive.  Anticipating the final release of pent-up desires to even the score. Almost jubilant.

Sun, 08/07/2011 - 14:21 | Link to Comment css1971
css1971's picture

I'm cash. Hoping for a BIG everything must go sale.

Sun, 08/07/2011 - 16:35 | Link to Comment toady
toady's picture

Be afraid. Be VERY afraid.

Adrenalin keeps me sharp

Sun, 08/07/2011 - 13:52 | Link to Comment slaughterer
slaughterer's picture

"The good times are over": China to USA.  The bad times have just begun.  

Sun, 08/07/2011 - 13:54 | Link to Comment Boilermaker
Boilermaker's picture

Yea, for them.  Believe it or not, we can actually make shit in the US, iphones and all.

Sun, 08/07/2011 - 14:05 | Link to Comment Cast Iron Skillet
Cast Iron Skillet's picture

we could certainly build factories and train workers to build stuff, but I am not aware that the U.S. currently possesses factories capable of making iPods, LCD screens, microchips,  TVs, and the like for the commercial sector.  We might have factories for producing military gadgetry, but commercial stuff is another matter.

Sun, 08/07/2011 - 14:14 | Link to Comment DCFusor
DCFusor's picture

We have some capability for certain.  I did product development for ValCom for example - they have many acres of electronic product building robots -- it's an awesome sight.  That particular outfit is so veritically integrated as to be building their own speakers, transformers, and other "basic" parts from scratch.  But they are the exception to be sure.  All that stuff done in volume in China was first prototyped here, don't forget.  We can make stuff just fine -- not currently in amounts to match current demand, but both sides of that equation are about to become "fluid" to say the least.

 

Sun, 08/07/2011 - 14:26 | Link to Comment OS2010
OS2010's picture

We have plenty of capacity, we just have to remember how.  As to "current demand," I wouldn't worry:  Americans may also finally remember how to budget family expenses!

Sun, 08/07/2011 - 14:41 | Link to Comment takinthehighway
takinthehighway's picture

Sure, we have plenty of buildings - but remember, many of those plants were stripped of their machinery, which was sold to overseas interests. Besides, the plethora of regulations which have to be met in order to do business in Amerika virtually guarantees that no one will put forth the capital needed to mount a serious venture.

Sun, 08/07/2011 - 14:23 | Link to Comment cossack55
cossack55's picture

Guns or Butter

        ReichsMarshall Hermann "Meyer" Goering

Sun, 08/07/2011 - 13:53 | Link to Comment Withdrawn Sanction
Withdrawn Sanction's picture

ECB is weighing Italian, Spanish bond buying on a massive scale.

It's madness, truly.  These people (central bankers) are absolutely unhinged.

Transferring bad debts to the monetary authorities serves only to undermine the value (backing) of the currency.  Taken to its logical limit, the destruction of a currency that would follow from such a suitably "massive" program, would throw into chaos the value of every other asset denominated in the destroyed currency.  Now, if that currency were, say, the world's reserve currency, well....

Madness, absolute madness.

Sun, 08/07/2011 - 14:10 | Link to Comment MsCreant
MsCreant's picture

But what if they all become exactly the same amount of worthless at the same time?

Sun, 08/07/2011 - 14:25 | Link to Comment cossack55
cossack55's picture

Wonderful buying opportunity for future xmas gifts of framed and sorted extinct currencies. People love em.

Sun, 08/07/2011 - 14:34 | Link to Comment rwe2late
rwe2late's picture

If that happens, then:

"You're traveling through another dimension -- a dimension not only of sight and sound but of mind. A journey into a wondrous land whose boundaries are that of imagination. That's a signpost up ahead: your next stop: the Twilight Zone!"

Sun, 08/07/2011 - 17:20 | Link to Comment NumNutt
NumNutt's picture

Oh wow you dated your self on that one. LOL.

Sun, 08/07/2011 - 14:43 | Link to Comment TwelfthVulture
TwelfthVulture's picture

When everybody is rated A, AA+ becomes the new AAA.

Sun, 08/07/2011 - 15:27 | Link to Comment cosmictrainwreck
cosmictrainwreck's picture

oh, so that's how it works! <slaps forehead>

Sun, 08/07/2011 - 13:53 | Link to Comment weltvermesser
weltvermesser's picture

it`S really time for a special market commitee by now.  i would suggest 

bernie madoff

jeffery skilling

jim cramer

 

they sure know what to do now...

 

ASK WHY, ASSHOLE

 

 


Sun, 08/07/2011 - 14:01 | Link to Comment Bam_Man
Bam_Man's picture

You forgot to include Bernie Ebbers whose specialty was accounting fraud.

A glaring omission.

Sun, 08/07/2011 - 14:17 | Link to Comment Yen Cross
Yen Cross's picture

  Can we have this on the ENRON ( post facto) trading Desk?

Sun, 08/07/2011 - 14:42 | Link to Comment TwelfthVulture
TwelfthVulture's picture

Michael Milkin, Chair.

Sun, 08/07/2011 - 15:10 | Link to Comment snowball777
snowball777's picture

Noesky Boesky?

Sun, 08/07/2011 - 13:54 | Link to Comment DormRoom
DormRoom's picture

G7?

 

What about China?  China is in the G-20.  Did they not phone china?

Sun, 08/07/2011 - 13:56 | Link to Comment Boilermaker
Boilermaker's picture

I think you'll find out how much 'respect' the US and EU have for China when the chips are down.

Sun, 08/07/2011 - 13:54 | Link to Comment glenlloyd
glenlloyd's picture

I thoroughly expect the 'massiver scale' thing to happen

Sun, 08/07/2011 - 14:38 | Link to Comment Tunga
Tunga's picture

Ah, glenlloyd; tits "more massiverer" isn'tit? Pretty sure anyways. You can quote that.

Sun, 08/07/2011 - 13:56 | Link to Comment Fazzie
Fazzie's picture

I think at this point the market wont be soothed by words alone. Words aint gonna buy trillions in crap bonds. Now who exactly will bail out the G7 after they go belly up from buying spirialing debt?

Sun, 08/07/2011 - 13:56 | Link to Comment Doyle Hargraves
Doyle Hargraves's picture

G-7 finance ministers, central bankers expected to express confidence in dollar, pledge liquidity. U.S. to explain fiscal rebuilding efforts- I thought S&P downgrade was no big deal to the fed/fdic/ncua/treasury, if so why express confidence, pledge liquidity?  Cause they are all Lyin' and scared shitless Bitchez!!!

(Anyone heard from China, lately?BWAHAHAHAHA)

Sun, 08/07/2011 - 13:57 | Link to Comment kito
kito's picture

Or maybe Quantitative Hemorrhaging is more appropriate?

Sun, 08/07/2011 - 14:21 | Link to Comment Implicit simplicit
Implicit simplicit's picture

Quantitative Malaising.

Sun, 08/07/2011 - 15:57 | Link to Comment akak
akak's picture

Quantitative Qornholing.

Sun, 08/07/2011 - 13:57 | Link to Comment Sudden Debt
Sudden Debt's picture

Tel Aviv Stock market closed down 5.6% before they closed it early yesterday.

Saudi Stockmarket also had to be closed early.

Both markets saw their banking stocks plummet.

But monday will be totally different for the US and EU....

 

Sun, 08/07/2011 - 14:46 | Link to Comment The Shootist
The Shootist's picture

Yeehaaaaaaaaw!

Sun, 08/07/2011 - 14:49 | Link to Comment narapoiddyslexia
narapoiddyslexia's picture

Didn't the Tel Aviv markets miss the crash last week because they were closed?

Thus, their going down Saturday was a lagged reflex to what had happened earlier in the week, not a reaction to the downgrade.

Is that a theoryy, or what?

Sun, 08/07/2011 - 17:23 | Link to Comment NumNutt
NumNutt's picture

Maybe they could just keep all the markets closed until say.........November 6, 2012?

Sun, 08/07/2011 - 14:02 | Link to Comment tom a taxpayer
tom a taxpayer's picture

 

G7 statement also is expected to support IMF (International MuthaFuchas), Dominique " I did not rape the maid" Strauss-Kahn, and Christine "I did not rape the French taxpayers in multi-million$ payment to French business tycoon Tapie" Lagarde.

 

Sun, 08/07/2011 - 14:00 | Link to Comment slaughterer
slaughterer's picture

Is there a single word from Geithner or Obama on the S&P downgrade?  Why not?  

Sun, 08/07/2011 - 14:13 | Link to Comment MsCreant
MsCreant's picture

Because they are pussies?

Sun, 08/07/2011 - 14:28 | Link to Comment falak pema
falak pema's picture

galore?

Sun, 08/07/2011 - 14:40 | Link to Comment EhKnowKneeMass
EhKnowKneeMass's picture

Alright, a serious question. I am assuming you are a woman. Why are all things that are weak and docile call pussies, and all arrogant SOBs are dicks. Afterall, doesn't a pussy beat, consume and deflate a dick all the time. A pussy can service multiple dicks and still retain its persona, but most dicks can take only one pussy; and that too they are done after a second or two. Then they are flacid, shrinking and hiding between the balls... and running from the pussies. So, why this association.

 

Is it because it's a man's world, bitchez?

Sun, 08/07/2011 - 15:46 | Link to Comment MsCreant
MsCreant's picture

You make a great point. Pussy Power! Many feminists believe that men are in awe of the creative power of the vagina/womb and feel inadequate because of it. As a result they make things and monuments as a form of over compensation. Eco feminists will tell you this is why the planet is in trouble, men went over board compensating.

Meanwhile, much of what we accept as common in the culture does not really make sense.

For instance, on the flip side, I see guys here saying stuff like "suck my dick" and "lick my balls" as an insult or a form of degradation. Isn't that too precious to offer to someone you don't like? Too dangerous? Such a thing should be, if all was balanced, a nice invitation extended to someone you like. But these things are what they are.

Sun, 08/07/2011 - 17:57 | Link to Comment Hulk
Hulk's picture

My best friend's a pussy and there is an asshole that lives behind me. What am I???

Sun, 08/07/2011 - 14:22 | Link to Comment Quixotic_Not
Quixotic_Not's picture

Cause they don't really give a fuck about spinning lies now, B. Hussein Obummer is unelectable in 2012 at this point...

Liberal jedi mind tricks will have little effect for the electorate for at least one election cycle - May as well smoke some cigs, snort some hooch and play another round of hit da ball with a club on pastures of ignorant bliss.

Sun, 08/07/2011 - 14:32 | Link to Comment disabledvet
disabledvet's picture

never understestimate the ability of the completely incompetent to win reelection. we've had great Presidents and clearly Obama got off to a bad start because the Democratic told him what he was going to do. That's never a good way to start your Presidency. He appears to have been foisted into the role of an Al Gore'ian "I really am my own man, now!" moment. And now he knows why George Washington said--and i'm barely paraphrasing here "this job sucks."

Sun, 08/07/2011 - 15:58 | Link to Comment Quixotic_Not
Quixotic_Not's picture

Cognitive dissonance is bitch when you fantasize about being Da Master of Da Universe!

And please don't compare the Father of the Democratic Republic of the USA to a pathological liar born in Kenya... 

Since you seem to have a poor working knowledge of the Founding of the USofA, here's a book that will get you up-to-speed and give you a working knowledge as to the significance of the John Locke quotes that follow:

Patriots: The Men Who Started the American Revolution

http://www.amazon.com/exec/obidos/ASIN/0671675621/ 

The state of nature has a law of nature to govern it, which obliges every one: and reason, which is that law, teaches all mankind, who will but consult it, that being all equal and independent, no one ought to harm another in his life, health, liberty, or possessions ~ John Locke 1690

Hell, don't feel embarrased, even the so-called enlightened on the blogosphere don't get it... 

Whenever the legislators endeavor to take away and destroy the property of the people, or to reduce them to slavery under arbitrary power, they put themselves into a state of war with the people, who are thereupon absolved from any further obedience. ~ John Locke 1690


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