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French Spreads Back Near Record Wides As Germany Poops On Europe's Printing Party Again
The EURUSD is heading lower once again (back under 1.36), OATs are back near the wides of the day at 161bps, and BTP spreads to Bunds are 15bps off their best levels of the day as the Bundesbank jabs a stick in the spokes of the print-fest that seems to be the meme-du-jour for risk assets.
*BUNDESBANK SEES NO SIGNS OF CREDIT CRUNCH IN GERMANY
*BUNDESBANK SPOKESMAN SAYS NO ECB CRISIS MEETING TODAY, TOMORROW
Not exactly the talk we would expect from the ECB-proxy about to embark of regime-changing transactions.
OATs are even worse - almost back to their wides of the day!
Moreover, European risk assets are very dispersed this week. The chart below shows financial credits (light blue - Subordinated, and red - Senior) dramatically weaker, followed by corporate credit (black - investment grade, and orange - high yield), both underperforming the equity market (dark blue).
Today's equity strength is certainly not convincing.
Chart: Bloomberg
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Bernanke should tell the germans how to live beyand their means.
jesus. that gave me a mental image of a merk/sarkozy shizer vid...
You really do need to stay away from the West Village. Quit going to NY Fetish on Christopher Street and you won't have those Merkozy thoughts anymore. Maybe you can still get your money back on that gas mask you bought.
This headline sounds like you're making a sandwich...
just sayin'...
Dont you remember a couple months ago Bergeithnank tried just that and the Germans told him to fuck off?
Tiny Timmay says buy a bigger goose and more figgie pudding for Christmas and all will be fine. Oh, Tannenbaum!
Yea, speaking of regime change, I think Merkozy should be next. Live by the sword, you should die by the sword.... bitchezzzzzzz:)
To be replaced by more Central Bank surrogates. Maybe Geithner can be Chancellor of Germany and Greenspan (if they can dig up his corpse) can be Emperor of France.
All that's happening is predictable, as there are 7 stages that every
major economy goes through. Those who know how it works profit & massive
wealth is transferred to them. Several months ago I learned this
information from a millionaire whose site I found & am sharing it with
everyone I know.
His free video
"How To Create Incredible Wealth in Today's Economic Crisis"
is at:
http://theelevationgroup.net/presentation/register.php?a_aid=160667&a_bid=290b868b&chan=y
Hope this info helps everyone as much as it has me.
Dr. Nancy
A bit of spam there, Dr. Nancy....
I hate SPAM without ketchup. Where is the fucking ketchup?
I suspect that Dr Nancy is on the wrong site to peddle this kind of shite...
Do you think we're stupid?
Seriously Dr. Douchebag. This is not the forum to pump your crap. Please leave ZH alone. We do not need any more trolls. We like Harry Wanger and RoboTrader(on occasion). That's enough.
RoboTrader is our Troll!
Get a new text, or better yet.... a life:(
Finally, I too can learn all the secrets and live a life of prosperity by following these simple 7 steps? Wow.
Remember, theres no free lunch. If it sounds too easy or too good to be true, it probably is.....
You are giving us good doctors a bad name.
I second that statement.
Fuck off.
"Access Denied"
Thanks!
SPAM gets junked here.
Your boy Perry is getting smoked these days.
"I plan to vote for Rick Perry and celebrate when he is elected POTUS."
http://188.126.66.66/news/media-admits-ignoring-ron-paul#comment-1559667
Perry has looked totally inept in the debates, and he is running a terrible campaign. He looks beaten.
Yes, I said I believed Perry would win the GOP nomination. I believed that when he entered the race based upon his ability to raise money and the belief that the GOP Establishment would embrace him. Romney is the GOP's guy now.
The GOP Establishment is not going to embrace Ron Paul in the primaries no matter what the results of any straw polls are. They crush honest guys like him (just like they did to Pat Buchanan right after he won the New Hampshire Primary in 1996).
Fair enough.
The GOP Establishment picks who it wants to represent the party, and straw polls get tossed aside when the results don't "line up" with the GOP's wishes. Perry looks like a colossal bust, so Romney looks like their guy now. FWIW, I thought John McCain was a terrible GOP nominee for 2008. I thought George W. Bush was a lousy GOP president from 2000-2008. I thought Bob Dole was a lousy GOP candidate in 1996. Too bad we couldn't have had a viable 3rd party candidate who could win in November. I would love to see Democrats and Republicans both get egg on their faces if they both lost the White House to a 3rd party member.
I mourn the loss of that beautiful hair and fetching smile. A cross of the best aspects of St. Reagan and St. Bush the Younger. No other Republican candidate looks so good and sounds so right. Ice-cream.
Perry looks like a colossal bust. He could have had a better shot if he had avoided the debates. Now, he looks beaten.
Wow! So nice of you to share that. Such an altruistic gesture.
Almost makes me feel guilty about suggesting that you fuck off and die.
If I want Snake Oil I'll buy a Python and stick it in the blender.
Shizer!
At least the Japanese know how to BANZAI!!! properly. Europe + bankrupt = Euroupt.
*BUNDESBANK SEES NO SIGNS OF CREDIT CRUNCH IN GERMANY
BS
Recent Bundesbank language is not accommodating and clear, precise to the point.
No gold leverage, no credit crunch - piss off y'all
+1,000,000,000,000 for using poop in a headline.
Well, I would've went with "craps", but I'm just a snob that way.
One of the first words i learned in my native language, but rare to read in print. Interesting.
And now the S&P deflating like JoePed's legacy at Ped State Univershitty.
One man's poop is another man's Tradition
and Robotraders stock-in trade...
Yea, the German's are into that sort of thing...
11/11/11?
http://youtu.be/UVQKiqCZ9No
I don't think you would see the word Poop on the New York Times. Add another reason why I don't read it.
German CPI is already high. More ECB printing, and Germans taxpayers will be paying through inflation (indirect socializing of banking problem). Also, Fed printing very likely in 2012. So you have ECB printing & Fed printing, and possibly BOJ printing. Then we get global hyperinflation.
Central Banks need to back away, or the savings of the middle class will be wiped out!!!
make the big banks pay. not us.
#occupywallstreet.
Before that happens, data needs to deteriorate alot further.
Sorry, you will have to either starve yourself or see many of your neighbors starving before such an event.
I wouldnt' ahve a problem with printing, if those reserves actually flowed through the economy via small business & entrepreneurs. But it's often the case those reserves are used by the shadow banking industry to leverage, and speculate. The big banks and plutocracy have all the upside, and if they fail, taxpayers have to backstop them.
That's an unfair game. And a con.
ECB printing protects French & German banks that should have known better.
You wouldn't have a problem printing currency units backed by nothing, but bemoan that the taxpayers are getting screwed. Even if each taxpayer were provided a truckload of printed currency each, the tab for all that free money will ultimately be paid by the taxpayers' labor. There's no free wealth.
Not for the 99%, that's for sure! The 1% have figured out how to screw all the people all the time! Sure, they let us have a few crumbs here and there, give us the illusion of wealth but when the shit hits the fan, when the hammer comes down the 1% will be OK as the rest of us will STARVE.
Eventually the middle class, which was designed to create a buffer between poverty and wealth, created as the bootlickers of the rich and famous so that the 1% can continue to rape and amass wealth through the ages.
Torch the whole lot and bring about some real change. Nobody should be ENTITLED to free wealth! Nobody!
Central Banks need to back away, or the savings of the middle class will be wiped out!!!
Central Banks intend to hack away, until the savings of the middle class are wiped out!!!
A middle class can't be "Globalized", but a serfdom can.
I looked at the headline quickly and thought it said:
French Spread Poop on Germany.
They must mean dog shit, since France is covered in it.
So this is why gold/silver have been hit again.
Can everyone please stop it with the deflationary scaremongering.
It's transitory.
There are some 200 billion euros plus sitting on deposit at the ECB. Where are those euros going to go, and what happens to inflation when they do?
It isn't going to fall, that's for sure.
If it starts to go into gold then the CB's are screwed. Expect more of the same, which means even more cash on hold at the CB's and even greater inflationary potential the instant things look better, or the instant that things begin to look materially worse.
This will be very fast when it goes...
Say what?
http://www.marketwatch.com/story/bank-of-england-holds-fire-on-more-easing-2011-11-10?link=MW_home_latest_news
Fade this morning's dead cat bounce...
I have always enjoyed French spreads. Italian, not so much.
People still buy stocks. The common thing I heared was that DOW dropped 400 points, time to buy ...
Yes, retail investors are looking for "opportunities" ... (to be hosed once again).
That and American students rioting over a stupid football coach.
Things will need to get ALOT worse before fresh money gets deployed.
Germany is withdrawing from Afghanistan.
Bullish! for German taxpayers
1: Print a shit load of money
2: Inflation
3: Let the ponzi collapse a little
4: Deflation
5: Repeat
Welcome to the new economic paradigm.
stop at number 4. the printing days are over
Yep! The printing is over.
That cycle is finite, and the world nears the end of the viability of that paradigm. All fiat systems are mathematically doomed to fail from the day they start. We all know this. Unfortunate for us, we live in a time where they all are so interconnected that when a big one fails, it pulls the rest down with them. Enter (or should I say exit) the Eurocrash. Russia's economic failure was insignificant, per se, in the grand scheme due to low exposure to their economy by other world economies. When the Eurotards finish their implosion, the aftershocks will decimate every single economy in the world. Once the Petrodollar implodes, we take the rest of the players with us. It is a race to oblivion. The only question is who is going to crash out first. It is just like betting on the fastest horse in the glue factory.
I'm short on paper (as in NO paper exposure here), long on phyzz, and preps. Pray for the best, prepare for the worst. Just kick back and watch the train wreck from a "safe distance".
I don't see how physical will be useful in a complete global socioeconomic collapse. Do you really think we will have a barter economy arise suddenly enough that Gold, Silver and Copper will be valuable? I think most of the bartering will be direct food for ammo or ammo for fuel ect.... if a complete socioeconomic collapse manifests itself. I know damn sure that if I have been eating cat food for 3 months I would rather have a 50lb bag of rice at the point compared to 50lb of silver. I just don't think a barter economy that uses any type of monetary unit of exchange would arrise suddenly enough after a consumption economy collapse to make it worth it to own huge amounts of physical precious metals.
Two words: wealth transference. I purchased physical as my last preparation. Storage food set for years, ability to grow my own and ranch my own meat set years ago, near limitless water supply (unless the deep aquifer runs out), all other sundry items (cloth, tools, equipment, fuels, salt, sugar, etc.) already in place. I personally may not benefit, heck, my kids may not benefit from physical metals, but my family will. Eventually there will be a non-barter economy. When it comes to pass they (possibly even I) will have more than goods to trade for money. Call it insurance, call it foresight, call it insanity, but it is strictly a transportable, relatively lightweight, method to store and transfer wealth to the other side. You have to think LONG term when preparing for such things.
Euro sovereign bonds taking a beating?
That's nothing.
Poor General Jim's net worth has been summarily wiped out as Tanzanian Royalty is getting "Bre-X'd" today.
"This Is It!!"
LOL.....
Hey where were you all day yesterday RearViewTrader? You only come out under cover of green-ness? Chickenshit.
He was busy getting a tune up on his breast implants.
Regarding the dog shit in France, it's been a long-standing problem, going right back to the start of the 'Turd Republic' in 1870. Last time I was in Paris the motorbike 'pooper-scoopers' were on the job, so to speak, from dawn till dusk.
They are an endangered feces.
an observation: don't expect germany to enter any kind of discussion about bailing out
europe on rememberance day weekend: the precedent was a hard pill to swallow.
this also makes friday a banking holiday so nothing will happen until next week.
This is completely unrelated but I think anytime someone reads any article touting why now is the time to buy mining stocks they should automatically punch themselves in the face until they are unconscious. This way they don't make the mistake of actually buying them. This is just my opinion.
Agreed. Real stuff is better than toilet paper, but the ponzi games can last longer than you can stay solvent. Wake me up when the real economy comes back.
As Triumph the insult comic dog would say...
The Euro, a fine currency.... For me to poop on!
the euro is the worst currency europe has ever had... except for all the other ones.
French 10 years bond yield in 2001? 5.75%.
Now? 3.44%
Still a lot of room.
not exactly apples to apples there
debt to GPD 2001 ~57%
debt to GDP 2011 ~83%
A lot more debt and a stagnant economy. Oh, and a populace who aren't afraid to crack a few skulls when they don't get what they want.
Return Alsace-Lorraine to Germany and you might get a bailout.
Heh, heh, heh, he said "poop".