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shell games, bitchez
Seems that now that SJ is gone, the eurokleptocracy holds the monopoly on the reality distortion field.
when it comes to Reality Distortion fields,
no-one can out-warp the Fed, the MsM and "financially engineered" Wall Street vehicles (CDS)
this is where all this shit started and that's where it will end.
The fence-pole stuck in everyones eye is called Credit Default Swaps (CDS).
Due to CDS derivatives, Hedgefunds and other vultures take highly leveraged risks on Junk-Bonds, using CDS as insurance to hold entire sovereign nations to ransom. Think AIG, think Lehman Brothers, think USA, think Goldman Sachs...
without Credit Default Swaps all this distortion and fraud would not be possible !
without Credit default Swaps the USA would not have needed to bail out AIG and paid off Goldman Sachs 14 billion !
without Credit Default Swaps nobody , including Goldman Sachs would venture into leveraged high risk Junk Bonds, while waiting for the next bail-out from the next government !
Without Credit Default Swaps no-one would be idiotic enough to touch Greek Bonds !
Without Credit Default Swaps (CDS) there would not be a Debt Crisis !
but of course everyone knew that,
and that's why the USA is the most fucked up warped distortion hole in the entire Universe !
The U.S. should not have made Goldman et al whole. They should have told AIG that they were going under while protecting their profitable subsidiaries. Instead of 100% payment to Goldman, Deutsche, etc., they should have told them that there was evidence that as sophisticated investors, they knew that AIG was unable to pay, so they could take or leave 1/3 to 1/2 payment - yeah, a payment from the government, but a sharing of the loss and no bonuses to rage about in Congressional hearings. Then, let AIG execs fight creditors in bankruptcy court for their bonuses and let Goldman et al take similar medicine.
there can never be too much debt because Gold extinguishes all debt. Always has, always will. The use of fiat currency, at its very core, is a game of kicking the can down the road. The can just isn't rolling very far down the road anymore. The coming "collapse" is not a collapse but a transition. One that many have long ago made ready for. Many others are using this purgatory period to get ready.
Even the ancient Maya predicted the return to the gold standard on december 2012. No more fiat. Ever.
ever? i'll take the under.
Well the institutions you mention, Goldman Sucks and Douchebank are now having trouble running faster that the massive snowball behind them. Can kicking it is. Through the lens of time, the delay this bought will seem like the blink of an eye.
true, true. yet it seemed so much longer than the six months to april, 1930.
Lever the ponzi bitchez.
And screw you Trav, posting with your co-located iPad.
This Eurozone marriage reminds me too much of Anna Nicole and JH Marshall......
...Except that the net aggregate debt of EU Member States is about 20 trillion (in reality, it's probably closer to 50 trillion, you know, Greek, Spanish, Italian and French record keeping and all, not including derivative exposure and knock-on effects of any degree of default beginning with Greece running through PIIS+France, and it's probably closer to somewhere in the ballpark of 250 to 300 trillion if one were to include future entitlements [see this for a corollary tale]:
But who's counting, anyways, and once it's past a certain number, who cares...since there's no coming back.
Whether a bankruptcy over $1 or a Quadrillion, the effect is the same (though the number of those mercilessly screwed will definitely vary).
Good luck in the task of stretching the few in the EU who are actually solvent into thin enough molecular taffy to cover the black hole that is the EU Debtapocalypse, bitchez.
I love cupcakes
Where is hank?
enjoying his $3/4 bn deferred goldman sachs entitlement, and lap-dancing with np,...?
That's some ice cold sanity, post here more often.
I'm looking forward to further 'solutions' from the Eurocrats, who in the end, will have one last bailout and that is known as monetization or easing.
the "EuroCrats" (why does everybody assume EU politicians are completely out of touch from anybody here?) are trying hard to get Greece to default. Because it's setup is rotten and beyond repair.
The banks and the MegaBanks don't want it and are trying hard to find why, including the threat of a collective collapse.
So those "EuroCrats" are calling the bluff by setting up the same sort of shit the banks call sound banking technology and doing what all politician can do best: delay, parlay, delay.
And telling them to recapitalize. Which is again somethings banks don't like to do (because they know best). This in a continent where people see them more as a public utility service then in the UK and US. And are less free-market-capitalistic, or, for a better explanation, think that the power to create credit derives from the sovereign.
I would not be astonished if the EFSF would end as a nationalization vehicle for banks - here is the money, give us lots of your stocks, up to controlling majority. By the way, you are fired and your bank is going to be broken up. See Dexia, only larger, harder.
'And telling them to recapitalize. Which is again somethings banks don't like to do (because they know best). This in a continent where people see them more as a public utility service then in the UK and US.'
Good luck with that. I'm not sure the history of banking in Europe is your forte, but how people see the banking system is irrelevant if they don't understand that it(the current banking system) is complete fraud.
History of sovereigns is my main "forte". Sovereigns default, go to war, default twice, rince and repeat.
This article says in a nutshell "European Sovereigns are massively indebted and European banks are massively under-capitalized"
Explain Japan - my two cents is that if you keep your debt inside your zone you can go up to 200% (or like the UK after Napoleon 150-170% - which they brought back to half in seventy years, courtesy of an empire and budget surpluses)
Undercapitalized? The EZ sovereigns are already guaranteeing depositors (€100k in Germany) and the local banks have a different structure in the EZ, they lend more directly to businesses instead of dealing commercial bonds, for example. You know how much bank capital you can buy if you change the law regarding what a gov can do to banks?
I remember when practically all Italian Banks were national (and of course stuffed with sov bonds) and if you look at the history of economic interventions of France, Germany and Italy you will see that they practically have a track record of deciding in parliament to "own" some chunk of the economy. In France, it's called dirigisme, in Italy and Germany it's "let's go back to the old system".
Banking a fraud? Yes and no. A bridge is the solution an engineer uses so that he does not have to build a dam. Eventually, all bridges need maintenance and will fail. Failure is part of any human endevour. Eventual default (either straight or by inflation) is typical of sovereigns, yes.
Excellent contribution. Useful hedging analysis and net-out as a plus.
Do you want to own the banks or do you want to be owned by the banks?
There, I knew I could put it more succintly.
Agreed, very good post. Nothing but facts, blunt and to the point.
AMZN just dropped 40$.
Holy Bezos, it sure did!!!
This would also imply a massive EUR squeeze, with the swap lines on full, wouldnt it just be epic with the EUR@2 when France gets downgraded to junk cos its on the hook for the rest of the EZ's crap?
Who'd let Jeetner around an 8-yr old anyway?
Birthday party, or not.
picked up some Amazon oct 205 and 215 puts; wish me luck
IM FKING RICH!11111
Good job. That remind me that a flying pig is still a pig.
And a flying pig with makeup is...Merkel on an Airbus A380.
All these gimmicks - meeting today, no..tomorrow.. hold on wednesday... by the weekend... are all a scramble to buy time. Germany, France and most others who can are trying to shore up capital for their banks, pushing banks to fill their coffers with as much Euros as possible. Everything else is a eye wash. They will come up with another plan for plan for mid Nov. Remember apparently Greece has cash until then. By that time Euro zone banks will tighten all seat belts and get into brace position. Then they will wait for Santa Clause to save them.
I wonder if the Greece miracle will happen on this date?
This might be the False Flag the PTB is looking for. This is when YU55 passes between the Earth and Moon, and may/or may not slam into the Earth/Moon.
What NASA doesn't really get into is the effect of the Earth/Moon's gravity pull on YU55.
If it hits land, it might kill millions. If it hits water, the tsunami may kill millions. Or maybe not. I think NASA uses FASB math.
Even if it doesn't hit, the government will control the world's communications. Why let a crisis go to waste?
No, if that glorified can of chips disguised as a rock plunges to earth, it's gyroscopic activated self destruct mechanism will go on.
A shower of debris will be picked up as a fireworks show that will make top video on youtube for a day or two.
It's clearly an alien starship full of creatures that like to eat paper money. They're attracted by the smell of debt ...
The stalling around is to set up the real EZ target.... the IMF....just as expected.
Master plaster polluted ponzi suckas!
No wait Dwarfkozie will sort it out.
maybe Merkozy should dress up as party clowns for their next photo op.
Funny how we have this inflation vs deflation debate as far as the US dollar is concerned.
Yet with the Euro, the same people are lost for words.
So priced in Euro's, will we have inflation or deflation in Europe ?
Neither. There will be no Euro.
Thats exactly what I mean.... Can you tell me a time in history where a currency just simply dissapeared off the face of the universe ?
before 1971, currency could not be raptured...
...with fiat, all things are possible
The euro will suffer the same fate as the Hungarian pengo.
Rember how Merkozy came to an 'agreement" and the Grand Plan was going to be announced on the 23rd (this a couple weeks ago)? Then, came the Grand Plan being pushed to the 26th? Now we're being told likely not a lot of details as they still can't agree on a few things.
So the bill is due, and no one wants to pay for it. It's that simple. It's timeto panic: because how in the world can the markets act so complacent given a 1000 point run-up based on an "agreement" that wasn't to be. In a nutshell, Merkozy ageeed something must be done, yet nothing can get done. Good luck, machines. I have a feeling you might get over-run soon.
One big 'the check is in the mail' routine, as ZH has already submitted. The next big hype is the G20 in early November. If they solve this, they can solve anything; all they're asking from the markets is 'suspension of disbelief.' A miracle is in store for us in time for Christmas. If we will only believe! LOL
the result will be conflagaration...
Weren't Paulson and that Neil Kashkari gay together? Not that there is anything wrong with that.
Just trying to figure out Merkel dances with Sarko or LaGarde
So lets see, AMZN earned .14 cents for the quarter. Give them a 20% growth rate premium and you get about $1.00 for the year. PE of 25 for growth and we are looking at about 30 or so. Long way to go.
I do not care if you sell 10 billion. How much do you earn after expenses. Freaking absurd market.
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