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oh the irony of Soc Gen explaining this
Exactly- it's so misleading that even Soc Gen feels a need to clarify- priceless!
people will be begging for the next crisis to be like the one of 08. The great reset is coming
we are still in for a little bit more of muddling through
There may be a bit too much clarity out there now to allow for the s.o.s. market.
They slung another .25 Trillion euro into the mix and it is obviously not enough.
Day of reckoning?
523 banks is scary
Somebody is printing. Who?
Somebody isn't printing. Who?
It better not be our Fed printing is all I can say. Because their will be more than a political price to pay.
Nah. Fed printing is coming shortly, the only question is whether it'll include Euro debt or just MBSs. That's the way the cookie crumbles...
It's the ECB - not directly, but the effect is the same "as if".
Tried to explain it here 2000582.
It does not look like QE to the German, Dutch and Finnish Electorates, it's relief for those govs that have a good hold on their banking systems, and it's more "political" than a simple QE.
Call it PolitQE.
Rehypothecation II. The truth hurts.
Now something really important:
According to the Enquirer, Jennifer recently spat back at a McDonald's employee after she and Casper (a backup dancer) visited the fast-food restaurant, and one of the cashiers asked Casper if he wanted to pay separately to his mum.
Fuck this, I'll do her. I'll sit on her lap and suck on her titties like a baby, I wouldn't mind.
And pretty much everything is crashing right now. Ok, who collapsed this time?
it's the amy whinehouse effect: an alcoholic can die when drinking again after some days on the wagon.
Maybe the implications of Oracle's earnings are being weighed more heavily than another liquidity-scheme by the Europeans?
Maybe rumors again of a French downgrade...
In other news, don't forget to add €210 billion in net "assets" to the ECB's already record balance sheet of €2.494 trillion, bringing it to a fresh new record of €2.7 trillion'
I say, please have a look at the figures produced each week. They are for the Eurozone as a whole, including all central banks. One day, one day, you will acknowledge that, maybe?
The ECB is NOT the Fed.
so, LTROs = funding to cover the next set of write downs?
why is the Frankfurt based bank a greater hedge fund than the BofJ, BofE? FED???
Its beyond my comprehension. Granted its a hybrid structure today. But if reality is bootstrapped to give it de facto fiscal backed clout, not yet there, but in pipeline, then why should the world consider it more dicey HF than the FED. Agreed its Math is impossible, but so is that of Japan, UK, USA. They are all wallowing in inextricable debt and they are all totally incestuous, which makes it the SAME financial construct. SO why beat one bank, knowing full well its ALL the central banks who are joint and several.
Unless you consider "exorbitant privilege", a totally "political" historical reality, as valid "economic" argument, to justify FED's unique role in the 'invisible handed market'. The market IS totally manipulated by the Oligarchs, the GS cabal. Its not ZH who will contradict this "de facto" reality...
In this respect, its possible that the difference is in the fact that the Fed, BofJ & BofE can print and monetise their way through difficult storms. The ECB can't. Its that simple, they are loaning out shite free air not paper cash created on the printing press.
So, they are most likely hedging their bets on there being growth in three years, to get this money back.
Questions? And they call this a solution? I suppose if you try and confuse everybody, nobody will ask why the hell you don't solve the crisis and stop this bullshit. Oh wait, that's right, to solve it Vampire Squid et al has to take a bond haircut and we can't have that. Better for the entire continent to suffer for a generation or two so that bankers can get their bonuses. This is fucking pathetic.
OK, some background is in order here, and I foillow this stuff on a regular basis. all of a sudden this phrase ltro has appeared without much background on what it is. I know there is some ecb program to lend at 1% for three years unlimited liquidity. Is this that program. If it is I don't understasnt the bid/ ask stuff. that's a bond type auction from what it sounds like. WOULD SOMEONE PLEASE EXPLAIN STRUCTURE OF SAID LTRO. SORRY ZH, BUT THERE ARE AT TIMES YOU DON'T PROVIDE ENOUGH INFO ON THINGS AND ASSUME EVERYONE KNOW WTF.
FOR CRYING OUT LOUD, DO YOUR HOMEWORK!
maybe start by reading this:
LTRO has been covered extensively in the past two weeks
maybe dcb is a politician...
bifurcation not carry trade: roll short term quality for long term ECB money while dumping sovs.... not dealing with underlying fundamentals (obviously) but still marginally positive
EUR/USD 1.20 in a week, maybe two.
Another LTRO is late february. wow..
It annoys when they pretend that this will stimulate lending to households. They always mention this in their analysis for obvious reasons, namely to appease the sheeple. There is no way in the world any of this will find it's way into anything but risk inflating measures.
I just want to refinance the ass end of the horse!
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