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G7 Preparing Statement To Support Dollar, EU, In Fact Everything That Would Otherwise Collapse Tomorrow, Before Asia Open
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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I agree. There's only three things that could save Obama at this point:
1.) A f*****g miracle.
2.) A suspension of the election.
3.) A very popular third party candidate.
4. FALSE FLAG!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Tuco
5.) A particularly stupid 2nd party candidate...with a bus.
1/
Economic Martial Law Will Be Declared...
http://seenoevilspeaknoevilhearnoevil.blogspot.com/2011/08/gerald-celent...
2/
Learn why America's younger generation has no Protesters!
Eight Reasons Young Americans Don't Fight Back: How the US Crushed Youth Resistance
"""The ruling elite has created social institutions that have subdued young Americans and broken their spirit of resistance....."""
http://seenoevilspeaknoevilhearnoevil.blogspot.com/2011/08/8-reasons-you...
OT: hilarious 2 min video
upside down...
http://www.youtube.com/watch?v=W0Uju3tYS2s
Read more: http://www.businessinsider.com/the-story-behind-sps-downgrade-2011-8#ixz...
As promised Hulk. http://www.fxstreet.com/rates-charts/currency-rates/ make sure you have Java enabled.
Thanks Yen. BTW, take a couple of your pumpkins, when they are hardball aize , and throw em in the oven .
D-Licious!
Will do if the Kids don't beat me to them! Have a good trading week!
and the band played on ! Dow opens up 400 points. Nuttin to it the way we do it.
I fully expect the markets to open higher initially, got to knock the stops out. Then comes the titanic.
For those of us into this kind of thing, I wouldn't miss the next few days for anything. We all have opinions as to what will happen but deep inside we admit we don't really have a clue LOL.
Whatever happens tomorrow will be based on confidence levels, as it is a confidence game...
Well if that is the case (which I agree with you) then we are screwed. Just look at the price of PM's, which to me suggest no confidence. Actually I don't think I have spoken to anyone lately that has a pulse, and keeps up with the news, that feels confident. In troubled times people need to turn to a strong leader for confidence, to be reassured that everything will be ok.........Oh crap we are screwed......
Are you calling me a politician? Thems fightin' words, buddy. Andy Jackson will whup the tar outta you.
today is just a Bear Stearns Sunday redux
Lehman awaits
You guys are just so fu#ing LMAO funny! It is truly your intense hilariousness that addicts me to your hyper amusing mockery of those attempting to fool us.
I LOVE YOU ZH!!
tits trickery 101
?Elvira's tassel dance? - YouTube
Might be a good time to turn all of this shit off and come back in a few weeks to see how the dust settled.
Fukishima dust never settles!
Unfortunately, the Fukushima dust does settle in the form of radioactive "hot" particles which if ingested will kill you deader than a hammer in a matter of decades. So breathe easy, literally and figuratively.
Tuco
Im already being quoted 1.4350/1.4370 for eur/usd, and 1,6638/1,6728 for gold...
0.7544/0.7594 for usd/chf new all time low and falling...lol now 0.7529/0.7579
Arrrrrrg!!!!!!!!!!
On Friday the ECB realeased a statment saying they "might" buy Italian/Spanish Bonds.
On Saturday Germany said NO WAY.
On Sunday they go back to jawboning about "maybe" buying said bonds.
Well I don't care what they do. I'm buying PM's...Platinum to be specific. They can buy all the garbage they want. If it helps hold the system together a little longer good for them but it's their funeral. I'm sick of jawboning bullshit anyway. Let them do it.
I have placed an AGE and an ASE along with a stack of FRN and US coin equal to $1.701.72 on my desk (spot Friday close).
I will wake up tomorrow morning and only one of those three things will have been intrinsically affected by the governments of the world.
I know that the AGE and the ASE will be the exact same as they were when I acquired them over 20 years ago.
The US currency.. I think I know what will happen to that.
So, lets see, thats 1 AGE, 1 ASE, 5 $1 bills, and 3 dimes?
OK.. Seventeen (17) one hundred dollar FRN's one (1) one dollar FRN, two (2) post-1964 quarters, two (2) post-1964 dimes and two (2) zinc copper clad pennies.
Typos happen and my blog reply post proof reader out shopping for a new three crotch thong for me.
I guess it's a good thing the reply wasn't in widely accepted SMS syntax.
I could of course be wrong, but to me, any statement like this coming now would only make the dollar look even weaker than people already consider it to be. I think such a statement would have exactly the opposite of what would be intended.
yes it all reeks of desperation.
for those who love or
hate Roubini you can follow him on this twitter clone
http://yfrog.com/gy75192813j
We stand ready ... to poop our collective pants. But we are prepared -- We shall coordinate and wear the brown pants.
Since we, using the Roman calender, skipped the year "zero", 2011 is the actual 2012.
Looks like everything is lining up.
I fought the fed, and the fed won (usually).
The fed fights world markets and....who wins? Grab the popcorn and see!
Didnt all of the banks in the EU just go through stress tests not long ago? Most passed with flying colors..
The US dollar became the world reserve currency because America had the strongest manufacturing economy on the planet, and was the strongest creditor nation on the planet.
Now China is the strongest manufacturing economy on the planet, and the strongest creditor nation on the planet. Ergo China's currency WILL become the new world reserve currency at some point.
G7 nations are going to keep bailing out insolvent nations and destroy their own currencies? That seems to be the plan. They fully intend to keep the ponzi scheme going, regardless of downgrades. They're going to print and print and print and keep on printing till their currencies are worthless. The dollar, the Euro, the Yen, all printed and loaned to insolvent nations till they're worthless.
Deflation isn't going to happen. Hyperinflation is what's going to happen. I guarantee it.
And Otools cronies will populate the Ghost Cities...
they surely fear deflation much much more than hyperinflation
There are no "guarantees". We are in unchartered territory. in 2001 Argentina cash was king for some time as banks closed and cash withdrawals were extremely limited. Also, don't forget about the $1,500,000,000,000,000.00 in derivates that must be unwound!
Hold green cash in case of dellation and gold and silver in case of deflation "or" inflation.
No one on this planet knows exactly what is going to happen and when, not even the demons who planned this mess!
Tuco Benedicto Pacifico Juan Maria Ramirez
There won't be any deflation. Central banks aren't going to call in debt and pull currency out of circulation.
It's going to be more debt and more debt and more debt to keep insolvent governments going (like the US government).
Anyone who doesn't see that is a fool.
BTW : In their rebuttal of US administration's rebuttal of their downgrade, S&P's issued a veiled warning to US : If you don't get your act together you could be downgraded further in six to twenty four months!
Is this pointing to the Congress not doing due dilligence on tax hikes, or is it pointing to QE-3 not being a good thing for the world economy which the FED will initiate at it's own risk?
I wonder...China/BRIC are now breathing down strong on S&P's neck, showing the market thet hold the initiative.
Is it pointing to Congress not getting serious about slowing/stopping spending?
Is this pointing to the Congress not doing due dilligence on tax hikes, or is it pointing to QE-3 not being a good thing for the world economy which the FED will initiate at it's own risk?
It's about spending. They're saying if the US government doesn't bring spending down, US debt will be downgraded again.
S&P cited congress's complete failure to get a measly 2 trillion in spending cuts over 10 years. Reid's 2 trillion "savings" because they decided to not invade Mars may fool some people but it doesn't fool S&P.
S&P knows the situation is hopeless. The US government is going to keep spending like money grows on trees, and keep borrowing till the national debt is $100 trillion.
Samba!
"Brazil Said to Keep Foreign Reserves in U.S. Treasuries After Downgrade"Brazil has no plans to sell U.S. Treasuries or change its foreign currency reserves holdings as a result of Standard & Poor’s downgrade of the U.S.’s credit rating, a government official said.
http://www.bloomberg.com/news/2011-08-07/brazil-said-to-keep-foreign-res...
Why would anyone say anything different, and thereby lower the price they receive for what they sell a few hours later?
Ding Ding Ding we have a winner. Nobody is showing their real hand until the opening bell....and even then there will be plenty of bluffing.
http://www.youtube.com/presstvglobalnews#p/u/10/B_jxjPmC9_w
Alternate Reality-Global Economical Crisis-12-01-2010-(Part1) Institutional Failure with Stiggylets!unless of course the Fed resumes said thing on a massiver scale
Is that like "too biggerer"?
G7 statement = too funny!
The european situation is the real elephant in the room, the treasury downgrade is just the
500# gorilla, but you can bet the room is going to get real messy.
Bank solvency is a moving target.
Start the popcorn popping at 7:55 PM. CNBC will be broadcasting live at 8:00 PM tonight. Guests will be anyone willing to profess the markets are currently undervalued, stocks should be bought for the long-term, and gold is in a bubble. Kudlow will state that King Dollar reigns supreme. Becky "the Buffet Groupie" Quick will pop up from under Warren's desk long enough to proclaim Warren is buying US stocks tonight. The anticipation is almost intoxicating. The only thing worth watching will be the tightness in Michelle Caruso-Cabrera's shirt.
http://highprobability.blogspot.com/2009/02/cnbcs-michele-caruso-cabrera-bikini.html
You can bet that one of the pundits CNBC pulls out in an attempt to talk up the markets is Abbey Joseph Cohen. She's never on unless CNBC feels the need to "calm" the markets.
You need to state your timezone when you mention times. I'm on CEST; UTC +2. and it's already 10pm.
http://www.youtube.com/watch?v=mbrdF2uXA3w
Uploaded by RussiaToday on Aug 4, 2011
This time Max Keiser and co-host, Stacy Herbert, report from New York City. They discuss the exorbitant privilege America is about to lose. They look at football players with AAA credit ratings and at Apple's cash stockpile bigger than Americas.
if you have to print a counterstatement - you alread lost the argument
Tyler,
Here in Canada Greenspan is top of the news on the hour saying stocks are going down tomorrow.
Care to comment?
My theory is:
- TPTB worried people will dump treasuries and push stocks up
- with stocks up they cannot justify QE3
- without QE3 USG cannot fund deficit without higher interest rates
- higher interest rates collapse ponzi because real growth is negative
- real growth is negative because net energy is declining
So if natural market forces say sell treasuries, and TPTB want us to sell stocks, what happens? PMs to the moon? Or stalemate?
And now; a massage from the Swedish Prime minister: "Run banker bitches RUN!!!"
I remember reading a story in one of the economic journals about five years ago that: 1. there would be WW III in about 2012; and that it would be the USA and Europe on one side and Russia and China on the other. The source of the conflict would be over resources the article said.SA countries would take sides depending on who owes what money to whom. Africa would be one of the major battlegrounds since all countries would rather detroy someone elses property instead of their own during the battles.
But I wonder if reckless monetary and fiscal policy will be to blame and angry creditors (Russia and China maybe even Japan) will do what angry people do esp since there seems to be no effort by Europe or Congress to solve the Debtor problem in a substantial and prudent way.Just as the Mafia sent Luigi To Collect, we may see a major collection effort in the near future ....who knows?
This could get ugly as this equation hardens:
ACTION = REACTION
Look, people, this is not rocket science.
The S&P used the 10 years worth of annual 5% GDP presumption and STILL downgraded.
All of the debt ceiling deal was using 5% GDP annually for 10 yrs.
What more do you need to know?
Guardian UK has a story in the live room tolling the "pundits of fame blame the S&P game" on US tv. The only thing these stellar architects of the QE14 can say is, "We did not know the iceberg was there and there is no similarity to the Titanic at all". (this is your captain, all women and children first, space creatures, red indians and a sort of idealized version of the complete renaissance man)
Oh, And it was S&P's fault. It was their iceberg after all. They did it. They are wrong. They are just plain mean and nasty.
The whole world is laughing that our bigheads of state are no brighter or competent than their bigheads of state. These people don't do anything, they just get elected. They have never had real jobs so they don't know how to do anything. Maybe we will remember this time, and give them jobs they are worthy of. After everyone else is employed that wants to work.
For many years I have believed the markets were the truth - no longer. Amerika has been permanently stained with central planning, something which will ultimately lead to banana republic status.
There is no truth anymore in the body politic - only spin.And it only gets exponentially worse as the days go by.
I don't have a clue how this shit works itself out in the markets, only to say that gold is the one thing I can buy on any break.
I only hope there is a special place in hell for the likes of the politicos who put the masses through this mess.
just ordered another 500 ounces, have to imagine the premiums are gonna pop higher soon
I assume you are talking about silver, but on the outside chance you are talking about gold, are you adopting by any chance? I'mwilling to be like son to some filthy rich Mom or Dad.
I must admit that I'm so damn happy I've prepared for this for 7 years....waiting the game out, watching. Scaring the shit out of the sheeple who ask my opinion on the state of $$ in this country. Now, I feel like it's the superbowl or world series ,etc...And we're winning.
6 hours to launch
I must admit that I'm so damn happy I've prepared for this for 7 years....waiting the game out, watching. Scaring the shit out of the sheeple who ask my opinion on the state of $$ in this country. Now, I feel like it's the superbowl or world series ,etc...And we're winning.
6 hours to launch
Bank run coming to a bank near you! Time to hunker in the Bunker..........Food & Ammo
The ruling elites plan is falling nicely into place. Plan was hatched decades ago. Get as many Americans on the dole as possible. Cradle to grave entitement just on par with subsistance level. It's a form of hush money. We will pay you a minimum amount to carry you just so as long as you don't speak out, criticize, riot, start a new political party or revolt. Plan 55% complete. By end of Obama term plan should be up to 70% complete. Speaking out may get you thrown out of the security nest or at the very least get you tarred and feathered as a racist. The plan had one flaw that is only now getting the attention of the planners, thanks to most of Europe. Not enough productive people to fund the non productive. The productive, not part of the grand plan no longer can bear the burden of such nonsense. Oh Shit now what. Well we are about to find out.
New political rule. Any rules shackling the people should also shackle these elitist. They pass a law, gee maybe they should have to live under the guidelines of that law themselves. At that point maybe we wouldn't get so much BS shoved down our throats.
Have they prepared a statement supporting Precious Metals?
No? I Guess they don't need it.....
.
Textbook case on how to prevent a bank run by the G-7, issuing their forthcoming joint statement:
"What-eeever you do everybody.... don't try pull out all your money out of the banks in the morning at the same time! Christsakes, there's only enough cash on hand for the first few that get there!" --- G-7 joint statement, August 8th
Funny thing happened to me one time. I was written a check for approx 30,000 USD. I took it to the issueing bank and requested to have it cashed. They laughed at me and flat out told me they did not have enough cash on hand to cover it. If I wanted to cash it I would need to give them one week notice. Just an FYI, if TSHTF get to the bank early, don't stop at Starbucks for a coffee..,
I'm afraid you're painfully correct.
I am selling a house tomorrow, and told the closing attorney I wanted an appropriately negotiable instrument to receive all cash from the bank because I plan on walking out with it in a paper bag. I let them assume I was just joking. But I seriously don't think the bank will have enough cash on hand. We'll see.
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