In His Own Words: Draghi's Debasement In Two Minutes

Tyler Durden's picture

In case you missed it. Here is Draghi's two minute diatribe, courtesy of Bloomberg TV, sprinkled liberally with every algo-headline-seeking word required to raise the perception that something actually just happened other than smoke, mirrors, and and conditional help best summarized by the phrase we used earlier to explain the Catch 22 Europe finds itself in now: "Spanish bonds soar on expectations Spanish bonds will plunge to allow Spanish bonds to soar on ECB purchases... but only after Rajoy hands in his resignation and gives the key to Spain to the IMF"

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Snakeeyes's picture

Portugal's 10 yr sov yield fell 40 bps, just like Spain's. Poor Draghi. This ain't going to work.

Dalago's picture

"No exact quantitative limit is set on the size of outright monetary transactions (OMT)... because we want this to be perceived fully effective backstop that removes risk from the Euro area." - (Super) Mario Draghi


I've been saying its fucking perception all along because its been deception all along.  Its an orchestrated rally and may be an orchestrated collapse.  What ever you do, don't listen to your governments.  Buy gold and get a gun or something smart like that.

NotApplicable's picture

I wonder if any of the algo's passed out from this round of Buzzword Bingo?

Fiat Currency's picture

SuperMario uses up his 3rd life

saturn's picture

Sounds like full blown central cancer to me.

Xibalba's picture

Do-over.  No more time...Call Timmy...- ok, ok...this one last SHORT SELLERS...ok, this time it will

ZeroIQ's picture

Do you also want to hear Draghi's definition of a "fully effective backstop"?


fourchan's picture

E' non bene. Tutti roti.

DrDinkus's picture

call the close tomorrow

MillionDollarBogus_'s picture

Spain 5 year bond yield is down 6.19%

I'm screwed....

Forget everything I recently said about buying EU bonds... 

daz's picture

potential spillover to the euro area REAL economy... 

No Euros please we're British's picture

MMMM, I guess I'm being stupid here. If I were Spain and Italy I'd stop issuing bonds greater than 3 years maturity. Then raise all my re/finance on 2 or 3 year bonds bought by the ECB. After all, I meet all the conditions for unlimited bond buying, right?

pazmaker's picture

i'm suffering from EURO news!

Crash and burn already!


Bastiat009's picture

It's not like we have to let them rape us. We could always vote for the people who have been right all along but since elections are just about who is going to pay for my condom and whose father was blacker, we're not going forward, despite what they say.

hombreloco's picture

Just goes to show one cannot short corruption.

Cognitive Dissonance's picture

Was that as good for you as it was for him?

HaroldWang's picture

No time for this, we have the AMZN event in an hour so we'er all buying 300+ p/e stocks today!!

Abraxas's picture

People behind the WTO, IMF, US government, European super government and many Asian and South American countries are neo-liberal aka neo-con fascists with no ideological, religious or moral brakes and with a single-minded goal: enslavement of all. Anything these clowns say or do is to get a step closer to accomplishing this goal. Call it a conspiracy theory if you like.

buzzsaw99's picture

shorts scared of draghi. lulz

somebody pulled my tail! [/cowardly lion]


machineh's picture

Central planning, bitchez ...

This time will be different!


Did he say he was sterlized? Hope so...

Dr. Engali's picture

The video afterwards has a blond bimbo talking about Bill Clinton's speach last night. She might as well drop down and start giving him a Lewinski right now.

Cognitive Dissonance's picture

Is a "Lewinski" a proper noun or a proper................

Never mind. :)

MillionDollarBoner_'s picture

"Lewinski" is a verb - a "do-ing" word...

Colonel Klink's picture

Courtesy dictates you flush after so much diarrhea.


Where's Cog's buttplug when you need it? ;)

Inthemix96's picture

Here draghi, take on these wise words my good man.

Fuck off you stupid cunt.

Fixed it, see?

Abraxas's picture

I wish he did, but he won't. You see, he only obeys his masters. He's got a task to do, and by God he'll see to it that it's done.

Jason T's picture

Central banks will own the world in 5 years time.  


ArrestBobRubin's picture

Nah.... central banks won't exist in 5 years, certainly not in their current form.

Abraxas's picture

I don't see anybody threatening them, nor I see them rushing to commit suicide. Pray, tell why you think they'll disappear.

ArrestBobRubin's picture

They slit their own wrists by the day. Further debasing their fiat "currencies" and losing their gold to the East.

What channel are you watching?

Abraxas's picture

What makes you think that what they are doing is not part of the plan?

ArrestBobRubin's picture

So now suicide IS part of "the plan"? I thought you ruled that out in your first comment..

viahj's picture

paper claims.  trying to take and hold possession will be a bitch.

tahoebumsmith's picture

Thomas Jefferson's worst fears have now gone global.. A world wide Ponzi scheme run by the banks and controlled by a cephalopod.

What future do you see for the children of the world?

"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered...I believe that banking institutions are more dangerous to our liberties than standing armies... The issuing power should be taken from the banks and restored to the people, to whom it properly belongs."

NotApplicable's picture

Now, why you gotta go about dissing cephalopods?

ArrestBobRubin's picture

that's just ugly anti-cephalopodism Mister

eclectic syncretist's picture

I see our children rising up and putting the sociopaths in their proper place.

ArrestBobRubin's picture

Good day to buy puts on Morgan Stanley. That stinking PoS is up 3.6% on this "news" today. As a result, the 15's and 16's are down nicely. Bargain.

The Continental's picture

Do guys like Draghi and Bernanke attend classes in how to bullshit and sound authoritative simultaneously. I think there could be a market for a CBT (Central Bankerspeak Translater; also Cock and Ball Torture). For example:

Central Banker: We pull conduct continuous monetary transactions (CMTs...ooooh) and purchase short term bonds without limit and introduce liquidity to stimulate economic activity and offset recent market downside risks and suboptimal employment statistics. These CMTs will be perfectly harmless as they will be sterilized.

Common Man: I'm unemployed because the economy is in a depression. The bankers are going to flood the market with printed money and make a bookkeeping entry claiming that they did no such thing. Prices have risen so fast that I can only afford canned cat food.

Colonel Klink's picture

"Do guys like Draghi and Bernanke attend classes in how to bullshit and sound authoritative simultaneously."


No it comes naturally for sociopaths.

Bastiat's picture

It's the core of an Ivy League education.

Colonel Klink's picture

Seems to be considering the sheer number of students caught plagerizing their papers.  Along with how to avoid business ethics.

^ for you

Mr Lennon Hendrix's picture

Mario Draghula 'Vants to buy your bonds!  Muahahaha!'

Temporalist's picture's not just a place where people put their PM vaults.

Colonel Klink's picture

And Deplane is where the fleeing 1% put theirs.

CitizenPete's picture

OK "ocupy movement", here is your REAL chance to pester some REAL players (not just thier serfs in DC). #Occupy