Here Comes Europe's Hail Mary - Presenting The "Redemption Fund"

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Thu, 12/01/2011 - 12:05 | 1935026 hugovanderbubble
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SP back to 770-850 ...end of the farce

Eurostoxx 1.500-1.650

Oil 55

-WORLDWIDE RECESSION

Thu, 12/01/2011 - 12:10 | 1935051 LawsofPhysics
LawsofPhysics's picture

"SP back to 770-850 ...end of the farce


Eurostoxx 1.500-1.650

Oil 550

-WORLDWIDE RECESSION"

fixed it for you.

Thu, 12/01/2011 - 12:13 | 1935065 SheepDog-One
SheepDog-One's picture

Its hard to even imagine what things would actually be like with oil at $550, unless youre into the Mad Max movies.

Thu, 12/01/2011 - 12:42 | 1935200 LawsofPhysics
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I see no dollar sign on my comment.  What you should be asking yourself is "550 what?"  See my comments below as well.

Thu, 12/01/2011 - 12:14 | 1935069 AngryGerman
AngryGerman's picture

"SP back to 7770-7850 ...end of the farce

Eurostoxx 4.500-4.650

Oil 55

-WORLDWIDE EXPANSION"

 

fixed it for you (according to ecb)

Thu, 12/01/2011 - 12:34 | 1935172 The Big Ching-aso
The Big Ching-aso's picture

 

 

Ya, meanwhile behind the scenes Germany is printing Deutsche Marks up the heinie.    

Thu, 12/01/2011 - 12:44 | 1935204 deez nutz
Thu, 12/01/2011 - 12:45 | 1935212 OttoMBMP
OttoMBMP's picture

Let's hope you are right!

Thu, 12/01/2011 - 12:16 | 1935084 Carlyle Groupie
Carlyle Groupie's picture

DBA is headed back down to a 23.5 - 24 handle. And Iran is just getting their internal nuke capacity managed by the foreign consultants.

I don't see an inflation argument in food or energy.

Thu, 12/01/2011 - 12:25 | 1935121 LawsofPhysics
LawsofPhysics's picture

Why not?  Are all the people/corporations that require the energy to operate going away?  Is everyone's purchasing power increasing?  Is the energy and capital cost to recover energy or develop and deliver new technology getting cheaper?  If your answer is no to any one of these then there is only one outcome.  Just like in Russia after the collapse of communism, the "official price" won't fucking matter, it will be simply whether or not it is actually available.  So in "academic" terms (or bullshit terms) you may be right.

Thu, 12/01/2011 - 12:17 | 1935088 Dr. Engali
Dr. Engali's picture

You're too generous on the S&P. I'm thinking S&P 450

Fri, 12/02/2011 - 15:16 | 1939492 WhiteNight123129
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Nominal S&P earnings at 180 USD.

Thu, 12/01/2011 - 12:05 | 1935028 LawsofPhysics
LawsofPhysics's picture

Another black hole for liquidity, fucking brilliant.  Will anyone address the solvency issue, ever?

Thu, 12/01/2011 - 12:20 | 1935079 Whoa Dammit
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Solvency will not be addressed because the banksters and their pols would have to admit that they are caught in an inescapable greed trap of their own making.

Thu, 12/01/2011 - 12:21 | 1935109 prains
prains's picture

PIMCO basically admitted this on Hardtalk today

Thu, 12/01/2011 - 12:34 | 1935169 Mike2756
Thu, 12/01/2011 - 12:45 | 1935210 mess nonster
mess nonster's picture

No-one will address the solvency issue, for potent psychological reasons, and even more potent long-term strategic reasons.

On the psychological level, a friend of mine just said, "I'm sick and tired of hearing about the End of the World and Fionancial Collapse! Things are going to improve, OK??!!

...uh.."OK"...

My guess is that, aside form ZH'ers, most people desperately believe things will get better, because, well, things have always gotten better. i think this includes most economists, most government economic architects (Central Bankers, etc).

But just as there are a few, far outside the realms of power who can see the truth, there is an even smaller coterie of people at the center of power who understand the unsustainability of the current system, and are working it to their advantage.

These men are NOT Jews. The Jewish tragedy is that the Jews NEED the current system (which they engineered), in order to obtain their objective, which strangely enough, is nothing more than a tiny, rocky, infertile outcropping of limestone in the Levant. You go figure. For the Jews, world domination is only a means to an end, which betrays their romanticism and naivete, and almost makes them endearing, in a pitiful sort of manner.

The Not-Jews see that the destruction of the current system is their path towards world domination, for the sake of world domination, because they like power, because they wish to sit upon the throne of God as if they were God. Their insanity is of a darker nature entirely.

The nut is economic, but in the sense of economy as the path to power. The system will be driven to destruction, by design. The Jews, who built the system, have no choice but to ride the locomotive over the precipice. For them, to get off is destruction now, and to stay on is destruction later, so they stay on, hoping that a way out might be found in time. Besides, they think, they always have the Sampson option, which no-one will allow them to use.

The Not-Jews are certain the Jews will be forced into the Sampson option, which will be the self-immolation of the Jews and the end of them, by their own hand. There will be lots of collateral damage, but that also benefits the plans of the Not-Jews, as it destroys or seriously weakens any residual oppostion to their plans for domination.

To sum up, the endless dithering in Europe is strategic, and designed to bring the global system to an utter train-wreck.

It is a perfect check-mate. If the economic structure implodes beneath its own weight, human misery will demand a re-set. Think "Holy Roman Global Empire" as the re-set. If the Jews see that by an economic collapse, they are about to lose their chance to own that rocky outcropping, they will attack to get it, before it is too late. This will bring about an acceleration of the economic collapse, and the ascendancy of the Not-Jews.  Either way, the ascendancy of the Not-Jews is assured.

Who are the Not-Jews? A hint: Think of a cerberus, with the heads of Albert Pike, Otto Bismarck, and Guiseppe Mazzini, wearing a coarse black woolen cossack, wearing a triple crown (Which head? Pick one) and holding, in his right hand a scepter, and in his left a machine gun.

Thu, 12/01/2011 - 13:10 | 1935328 The Big Ching-aso
The Big Ching-aso's picture

 

 

Take both hands.     Apply firm pressure between them.    Yank downward in one firm thrust.   You will hear a loud 'Pop'.    

Don't be alarmed.    This is just your head being released from your ass. 

Fri, 12/02/2011 - 15:17 | 1939495 WhiteNight123129
WhiteNight123129's picture

It will get better.... in 10 years.

Thu, 12/01/2011 - 12:05 | 1935031 Ahmeexnal
Ahmeexnal's picture

Resurrection Fund!

Thu, 12/01/2011 - 12:08 | 1935040 lolmao500
lolmao500's picture

So the rich (relatively) euro countries with fiscal dicipline pay for the poor and hooked on spending ones? Yeah I'm sure people are gonna like that... NOT.

Thu, 12/01/2011 - 12:22 | 1935112 Are you kidding
Are you kidding's picture

But that's the way it is...productive people pay the way for unproductive people.  It's what we do here already.

Thu, 12/01/2011 - 12:08 | 1935043 jay28elle
jay28elle's picture

What the hell.  I'm game.

Thu, 12/01/2011 - 12:10 | 1935047 Hondo
Hondo's picture

This will never work...I mean who are they trying to kid...Funded with nothing more than printed money...and does not address that every day more and more debt would be put into the fund as all country's are running fiscal deficits...I would continue to stay clear of any Euro Sovereign debt as this is nothing more than smoke and mirrors again....they have absolutely no way to pay it down no matter where they stuff it.

Thu, 12/01/2011 - 12:39 | 1935062 Ghordius
Ghordius's picture

you are right, buy UK, US, Japanese, Brazilian, Russian and of course South American's sovereign bonds, instead...

wait, pay it down? what? you mean completely? are you kidding? when was this done, like, ever?

Thu, 12/01/2011 - 12:14 | 1935070 SheepDog-One
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Theyre trying to fill a hole with printed up money...the problem is the more they dump in, the deeper the hole gets.

Thu, 12/01/2011 - 12:22 | 1935115 prains
prains's picture

Santa's bag

Thu, 12/01/2011 - 12:30 | 1935152 i-dog
i-dog's picture

What they really need to do is pool some brain cells between them and cobble together one functional brain to work with!

Thu, 12/01/2011 - 16:28 | 1936111 Hugh_Jorgan
Hugh_Jorgan's picture

I think you're forgetting that there is solid evidence to suggest that this is all intentional. No one is this stupid.

Thu, 12/01/2011 - 21:20 | 1936915 i-dog
i-dog's picture

+1. I've not forgotten.

Hopefully, my comment and your response might wake a few others to this reality.

Thu, 12/01/2011 - 12:30 | 1935048 Ghordius
Ghordius's picture

Long live the EFSF! Oh, wait, it's dead...

Long live the Redemption Fund! Long live the Redemption Fund!

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

Wait a minute! This might even work! Over 60%, coupled with some fiscal restraint, balanced budgets and a clear treaty... Shit, are they serious this time?

Oh, the horror of having to change my mind.... the horror.... all my plans...

Thu, 12/01/2011 - 12:44 | 1935207 Mactheknife
Mactheknife's picture

>coupled with some fiscal restraint, balanced budgets and a clear treaty...

Perhaps you'd be interested in some really nice beach-front property in AZ?

Thu, 12/01/2011 - 13:19 | 1935368 Ghordius
Ghordius's picture

I have already a comment on this further down, but let me explain one little thing about EU politicians (ex-UK). They love to spend, ok.

But they don't mind that much to spend less or even make budget surpluses if this is connected to a treaty that gives them other advantages.

If this would not be so, there would be no EU and no EZ.

I know, I know, "Austerity Bitchez" and "Loss of sovereignty" and "country XY is squeezed to death by..." and all this. But they would do it.

Caveat: Greece (and perhaps Ireland) might balk and leave - which makes all the lucky fellows betting on a "breakup" of the EZ rejoice...

Thu, 12/01/2011 - 14:36 | 1935644 reload
reload's picture

The `ex UK` part gives the Uk credit for prudence where NONE IS DUE. The current Tory/LibDem government are trying to reign in spending - just so long as nobody gets too upset. They have already caved in on several key election goals. Meanwhile they are printing like fiends to save their banker friends and the treasury from `liquidity issues`. Meanwhile the central bank shrugs without a care in the world as its inflation target is overshot by 100% for three years running.

The previous Labour Government ran the country into massive debt with spending projects for crony`s and massive increase in public sector headcount. Needless to say there was fuck all to show for this except a bigger millstone around the private sector which had to struggle with layers of pointless extra red tape and regulation - The only funny thing is that while Brown gets the blame for selling a chunk of UK gold reserves at rock bottom prices, Blair gets the credit from the main beneficiary with a lifelong multi million a year `consultancy` from good old JPM.

UK politicians are no different from politicians everywhere - they will spend other peoples money until it is all gone.

Thu, 12/01/2011 - 13:00 | 1935283 kito
kito's picture

I'm just shocked they are calling for a plan that tyler feels could actually work...in theory

Thu, 12/01/2011 - 13:22 | 1935383 Ghordius
Ghordius's picture

well, they planned to plan to find a plan to...

seems they are getting somewhere, for once

German Proverb: "Auch ein blindes Huhn findet mal ein Korn" - Even a blind chicken finds a seed, from time to time...

Thu, 12/01/2011 - 14:54 | 1935729 Ropingdown
Ropingdown's picture

Merkel is doing an excellent job and actually showing the backbone we haven't seen out of the EU in some time.  She and her staff are staying on message: "We will not pay for the debt of others, but we will try and help establish a new regimen of fiscal oversight.  It is for the debtors to show effective action, not for them to deliver mere promises."   She was masterful at buying time through ambivalent vagueness from July through November in order to consolidate her position (preparations).  Her position yesterday and today will stick.  It is where Germany is drawing the line.  I have gained an education in the peripheral countries' ethos as I see them gang up on the north, demanding money now for uncertain actions later.  They won't or can't collect taxes in their own jurisdictions, so they scream "give us your taxes!"  Nauseating.

Thu, 12/01/2011 - 12:09 | 1935049 hugovanderbubble
hugovanderbubble's picture

" Central Banks are unsolvent" period....

ECB is not AAA

the FEd is not AAA is C-

SNB is a fraud

BOJ toasted

CENTRAL BANKS HAS LOST CONTROL

Thu, 12/01/2011 - 12:11 | 1935055 SheepDog-One
SheepDog-One's picture

Every play now is a hail mary.

Thu, 12/01/2011 - 12:30 | 1935154 YBNguy
YBNguy's picture

Better hope its Tebow taking these snaps - with the whole God thing and all....

Thu, 12/01/2011 - 12:39 | 1935188 The Big Ching-aso
The Big Ching-aso's picture

 

 

In the states, we call those plays now Hail Barrys.

Thu, 12/01/2011 - 12:11 | 1935056 vote_libertaria...
vote_libertarian_party's picture

Say it....SAY IT!!!!

 

Somebody has to eat the losses eventually.

Thu, 12/01/2011 - 12:11 | 1935057 Captain Kink
Captain Kink's picture

Extend and pretend.  Whose balance sheet do they land on?  or is this another new balance sheet?  The ponzi lives. 

 

Thu, 12/01/2011 - 12:12 | 1935060 Sudden Debt
Sudden Debt's picture

If my country would decide to give every citizen 20.000 euro and add all that to it's national debt...

than go knocking to those morons door.... and ask for a debt cut, free money and all the beer in the world...

which country would be the smartest? The one who lends out the money or the country that receives it and gives it to it's people? Giving can also happen by creating excesive amounts of government jobs with excesive wages for example.... 

 

 

Thu, 12/01/2011 - 12:15 | 1935077 Ghordius
Ghordius's picture

SD, your country would never do it. Your country would give every citizen 20.000 beers.

you are so bloody lucky with your government anyway

Thu, 12/01/2011 - 12:20 | 1935103 SheepDog-One
SheepDog-One's picture

I see....so the whole rest of the world is going into austerity and bankruptcy, but 'the US would never do it'. No, its coming here next.

No you wrong, US will be the HARDEST hit, but the last hit...everyone else is disarmed and theyre just not sure how to go about taking it all away yet.

Thu, 12/01/2011 - 12:36 | 1935170 Ghordius
Ghordius's picture

hemm... I was making a joke about Belgium (SD is Belgian) giving free beer instead of free money...

...and being lucky with having no government since quite a time now... luckily they have a King! It helps to have a King!

I don't want to contradict you and actually I'm mostly of your opinion, with a few little caveats. you are scary when you are angry, you know?

Thu, 12/01/2011 - 12:53 | 1935240 slaughterer
slaughterer's picture

SD-1: which do you think goes first?  France or the USA?  

Thu, 12/01/2011 - 15:05 | 1935763 Sudden Debt
Sudden Debt's picture

THAT ONE IS EASY!!! THE ONE WITH THE SMART PRESIDENT!

 

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