Germany Rejects Geithner, ECB Refuses To "Print", Greece Gets Final Warning

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Sat, 09/17/2011 - 12:23 | 1679787 vast-dom
vast-dom's picture

I have this funny feeling shit is about to get really ugly on the 20-21st........

 

 

Sat, 09/17/2011 - 12:35 | 1679838 ww2vet
ww2vet's picture

bs--this warning will be followed by ANOTHER warning etc-game will never end djia new all time high this time next year

Sat, 09/17/2011 - 12:40 | 1679855 max2205
max2205's picture

This is your final final final.....final warning. Can YOU hear me!?

Sat, 09/17/2011 - 12:44 | 1679869 centerline
centerline's picture

I really, really, really mean it this time!

Sat, 09/17/2011 - 12:52 | 1679902 Barb Dwire
Barb Dwire's picture

Double secret probation...

Sat, 09/17/2011 - 13:04 | 1679937 TwelfthVulture
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It's like having a teenager who won't leave his room.  All he does is sit in there playing video games.  And the punishment offered is to ground him.

Sat, 09/17/2011 - 13:23 | 1679987 Pinefox
Pinefox's picture

Remove the video games and gadgets from the room!

Sat, 09/17/2011 - 13:55 | 1680050 Spirit Of Truth
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 Breaking News 

More: Greek media reports PM cancels US trip because of the gravity of his country's financial crisis - AP 

----------------

BTW, we are in mass panic window: 

http://thespiritoftruth.blogspot.com/2011/09/autumn-panic-update-will-ci...

 

Sat, 09/17/2011 - 14:01 | 1680061 AldousHuxley
AldousHuxley's picture

that sucks, because US had an African immigrant maid all ready to press fake rape charges against him in order to swiftly replace him with someone else.

Sat, 09/17/2011 - 14:14 | 1680091 bid the soldier...
bid the soldiers shoot's picture

Is gravity stronger in Greece than it is here?

Sat, 09/17/2011 - 14:20 | 1680104 Dapper Dan
Dapper Dan's picture

Should I not get the extended warranty on my new truck, or is it bad enough that I not worry about getting green bannanas?

Sat, 09/17/2011 - 14:01 | 1680063 Hulk
Hulk's picture

Make them go outside and play. Worse than waterboarding to a teenager...

Sat, 09/17/2011 - 14:49 | 1680146 unky
unky's picture

Maybe in the U.S.  Here its just great.  Meet your friends and drink in the park.

Sat, 09/17/2011 - 14:46 | 1680140 Dollar Bill Hiccup
Dollar Bill Hiccup's picture

The sin of self abuse still trumps the punishment ...

Sat, 09/17/2011 - 13:08 | 1679950 Earl of Chiswick
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Dear German holidaymakers:

please carry on with your plans to visit Greece next spring, all this talk of expulsion is for optics only

Sat, 09/17/2011 - 13:14 | 1679961 GeneMarchbanks
GeneMarchbanks's picture

Next year Croatia joins, so no worries...

Sat, 09/17/2011 - 13:17 | 1679968 Doña K
Doña K's picture

The Greeks are getting another warning via Turkey!

The banksters control. If you don't shape up, we will unleash Turkey against you.

http://www.google.com/hostednews/ap/article/ALeqM5g2fSZzpaJdPyyBE8EwJSvkgFEjEw?docId=3f22562792aa4871a22c8ea5baf3331d

Sat, 09/17/2011 - 13:53 | 1680051 Albertarocks
Albertarocks's picture

Right on... a food fight.  Lots of turkey and greece.  I hope everybody's hungary.

Sat, 09/17/2011 - 14:10 | 1680083 bid the soldier...
bid the soldiers shoot's picture

Thanksgiving's coming.

What are YOU thankful for this year?

Sat, 09/17/2011 - 22:28 | 1681109 CompassionateFascist
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ZH. And my hoard of Silver Eagles.

Sat, 09/17/2011 - 19:24 | 1680765 markam
markam's picture

The hungary made that pun.

Sat, 09/17/2011 - 14:28 | 1680111 SofaPapa
SofaPapa's picture

This would be a beautiful Black Swan, no?  

Sat, 09/17/2011 - 20:42 | 1680859 BungaBunga
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A black swan and a deer in the headlines during a perfect storm.

Sat, 09/17/2011 - 13:17 | 1679969 Jumbotron
Jumbotron's picture

You just wait until your Father gets home.

Oh...wait....sorry....right.....I'm a single mother.

You just wait until your step-father gets home...and....

Wait....sorry...er....he's not your step-father as well.

You just wait until my pimp gets here.....that's right my P.I.M.P. bitch

and his name is Ben Bernanke.  And he'll....he'll....aw hell....what am I saying....

He'll backstop anything. 

Go ahead with your 35 day nude sabbatical to the Santorini beaches.  Mommy will be right here when you get back.

Sat, 09/17/2011 - 13:27 | 1679991 CrockettAlmanac.com
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Wait till your father gets home (1972) opening titles.

http://www.youtube.com/watch?v=ecQkZ_xIQJQ

Sat, 09/17/2011 - 14:33 | 1680120 EvlTheCat
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I think you are mistaking Germany with the U.N.. Bad idea.

Sat, 09/17/2011 - 12:39 | 1679851 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

The solstice; how ironic.

Sat, 09/17/2011 - 12:44 | 1679875 GeneMarchbanks
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And Autumn at that. Better known as Fall. You know, when things start dying...

Sat, 09/17/2011 - 20:35 | 1680848 tekhneek
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Where I'm from, things started dying a long, long time ago.

Sat, 09/17/2011 - 12:53 | 1679905 Thorny Xi
Thorny Xi's picture

Equinox ...

Sat, 09/17/2011 - 12:56 | 1679916 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Right...

Sat, 09/17/2011 - 13:27 | 1679994 Oh regional Indian
Oh regional Indian's picture

More like Equi Kicks this time around.

And they don't do these things without good reason and better timing.

ORI

Sat, 09/17/2011 - 13:42 | 1680024 Ancona
Ancona's picture

Hey, I think you folks have got something here! Let's call the Druids! Maybe they can save us after all!

Sat, 09/17/2011 - 15:21 | 1680191 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

What do you think they do in the Bohemian's Grove?

Sun, 09/18/2011 - 01:15 | 1681358 IQ 145
IQ 145's picture

The equinox; equality can't be bad for everyone; can it ?

Sat, 09/17/2011 - 12:59 | 1679924 TwelfthVulture
TwelfthVulture's picture

In a rational world it would. 

Unfortunately, we seem to occupy some space between bizzaro world and the twilight zone.  Given the rash of horrible economic news these past few weeks and combined with the Euro mess, if the floor under the market were removed, things should devolve rather quickly and the potential to spin completely out of control would be huge.  On the other hand, it may be hard to justify QEn/Twist or any further spending with a 1200 S&P and a 12,000 Dow.

I'm expecting another can kicking.

Sat, 09/17/2011 - 13:28 | 1679995 Fukushima Sam
Fukushima Sam's picture

This is a funny quote from the post: "Once people start to use monetary policy there will always appear to be reasons suggesting it should continue to be used."

He is right, of course.  But it is funny because even though he knows this he does not understand it.

Dude, it is too late.  The monetary policy genie has already been let out of the bottle.  There is no getting it back in until everyone has made their ill-fated wishes and total destruction has ensued.

The only possible outcome is a monetary reset.  The only question is if it will take the path of hyperinflation before it is done.  Given human nature and the lessons of history this is the likely path.  Best to just accept that and plan accordingly.  The monetization will happen and I think if you try to prevent it then you are just prolonging the suffering.  If you want to do the right thing then you need to focus on making the reset happen sooner than later, not continue to play the existing game by it's flawed and broken rules.

Sat, 09/17/2011 - 14:44 | 1680135 L G Butz PhD
L G Butz PhD's picture

First, saying that a monetary reset is the only outcome is just poppycock. Besides, that's jumping way ahead of reality. What's the big hurry? Have you really no idea of what stage we're in and of the tools still available to them? Really, what a waste of a perfectly good tactical nuke, and on Europe no less.

No, this is just bargaining over how much debt the creditors forgive, how they apportion debt forgiveness amongst themselves, and what form this debt forgiveness will take. Based on what happened to little Timmy recently, I doubt they'll be calling it the Geithner Accord.

Even though it's too early in the game for your monetary reset, you DO get points for expressing the thought, whether it was originally yours or not, as I am interested keenly in the workings of that particular machine.

If you step back and think about all that needs to happen for enough of the major G-20 players to believe that such a reset is in their best interest, i.e., what they get as valued through their perceived position at the game table, well, it's quite an exercise.

Sat, 09/17/2011 - 20:52 | 1680874 i-dog
i-dog's picture

"their perceived position at the game table"

That's where the argument gets bogged down and inaction/deadlock takes over. Each party has an inflated opinion of their own self-importance.

Sat, 09/17/2011 - 20:54 | 1680878 Calmyourself
Calmyourself's picture

Exactly and unitl each of them feel the reset is the upside this will continue for much, much longer than most think.

If your power is unlimited and the bankers power is that, the toolbox is still half full and they are more desperate than ever.  The more I see them act to ensure the survival of a flawed system the more I begin to agree with those pushing for acceleration of the reset..

Sat, 09/17/2011 - 22:33 | 1681118 Fukushima Sam
Fukushima Sam's picture

I can't take credit for the thought, history is my guide.  Historians have documented the end of fiat money and economists have pointed out the problems with fiat money for over a hundred years.

I agree that no one will agree willingly to a reset because it will have to get much worse before it makes sense to the people in charge.  Meaning that they see guillotines in their future, or the velocity of inflation has built to the point that their commerce becomes impossible.

This is why hyperinflation is the only likely path to a reset.  We will only reset when there is no other option.  Such events usually either result in or are the end result of civil strife or war.  So a reset is in the best interests of the general populace (who don't want war or inflation), but certainly not in the best interests of the powers that be (who don't give a shit about sending their people to war and can benefit the most from inflation).

Sat, 09/17/2011 - 13:28 | 1679997 HCSKnight
HCSKnight's picture

Greece = Bear Sterns. So in little Timmy's fantasy world, like taxes, he's technically not lying when he says they wont let another Lehman occur.

The question now is who is the Lehman....

Sat, 09/17/2011 - 13:46 | 1680031 espirit
espirit's picture

"Grease" is pretty slippery, keep that in mind.

Threat to not bail, threat to default = buy the rumor, sell the news.

Bring on the endgame.

Sat, 09/17/2011 - 20:52 | 1680875 wisefool
wisefool's picture

We joke here about timmy and his tax troubles, but I am of the opinion he did it intentionally. Keynes said that taxes are unessecary. he said that the only intellectual pursuit with any reward is the avoidance of taxes.

http://www.quotationspage.com/quote/1346.html

Timmy avoided his taxes. That shows he is an intellectual. He was also rewarded for it. If he did not do it, would he be a true keynesian?

Doesn't Tyler make us burn our hands with boric acid before he alows us to be part of fight club?

Sun, 09/18/2011 - 00:27 | 1681302 StychoKiller
StychoKiller's picture

Lye != boric acid

 

Sat, 09/17/2011 - 13:41 | 1680020 DavosSherman
DavosSherman's picture

Banks & Buzzcuts on Greek Soverign === FUGLY

Sat, 09/17/2011 - 13:54 | 1680052 oldman
oldman's picture

Nothing has changed. The EU has said this all along. I´ve been reading this blog for six months now and have asked several times anyone to give me a reason why the euro is considered weaker than the dollar by people in the US when it obviously has not been----no European has seriously believed that the common currency would fail; all of the noise has come from the msm in the US for propaganda in favor of the dollar. For Europe the best thing that ever happened was the Euro beginning in the late 70´s----they have become the world´s largest economy since then whether measured in Euros or dollars.

Why is this news? We really need to get out of our jet fighters and bombers and get with the program the rest of the planet is on---we need to get out more, period---it´s just too crazy at home.

Anyway, I voted green for your looking ahead

thanks for your post, vast             om

Sat, 09/17/2011 - 14:03 | 1680067 CrockettAlmanac.com
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The US wants a weak dollar not a strong dollar. Everybody wants to have a weak currency. That's how the debt backed monetary system in decline works.

Sat, 09/17/2011 - 14:35 | 1680126 vast-dom
vast-dom's picture

you are very welcome oldman. 

 

there's no country for anyone at the rate we're going.................

Sat, 09/17/2011 - 15:40 | 1680251 St. Deluise
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once a date is set/known it will be acted on immediately.

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