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IMF Begins Spain's Schrodinger Bail Out

Tyler Durden's picture


Update: as expected, "IMF Says Spain Discussions Internal, No Talks With Spain"

Wondering what prompted the most recent "month end mark up" ramp in stocks? Look no further than the IMF, which one month after failing miserably to procure a much needed targeted amount of European bailout funds as part of Lagarde's whirlwind panhandling tour, hopes that markets are truly made up of idiots who have no idea how to use google and look up events that happened 4 weeks ago. So here it is: the Spanish bail out courtesy of the IMF. Well, not really. Because according to other headlines the IMF claims no plans are being drafted for a bailout. Why? Simple - if the IMF admits it is even considering a bailout, it will launch a bank run that will make the Bankia one seem like child's play, as the cat will truly be out of the bag. So instead it has no choice, but to wink wink at markets telling them even though it has been locked out from additional funding by the US, UK, Canada and even China, it still has access to funding from... Spain.

From the WSJ:

The European department of the International Monetary Fund has started initial discussions on a contingency plan for a rescue loan to Spain in case the country fails to find the funds needed to bail out its third-largest bank by assets, Bankia, people involved in the handling of the Spanish crisis said.


Both the European Union and IMF want to avoid having to bail out Spain at all costs, the people said, but early planning is under way given that the country is struggling to raise a €10 billion ($12.4 billion) shortfall in funds to bail out Bankia.


The stakes are extremely high because a three-year rescue loan for Spain could be as much as €300 billion, one person said, although any bailout could involve smaller, shorter-term loans.

That's ok IMF: let's play your game. You are bailing out Spain's banks? Fine. Here, as posted yesterday, is the list of banks that now officially, per Goldman, need a bailout:

Spain: Bankia Down, Who Is Next?

Bankia is done: at this point the only questions left are i) what will be the final bailout cost  ii) who will pay for these costs, and iii) whether the bank has enough beach towels to satisfy the onslaught of manic Spaniards desperate to hand over their €300 euros to the insolvent bank in exchange for some Spiderman-embossed linen. Oh, there is one more question: who is next.

Now, as we showed earlier today, in the aggregate the answer is simple: everyone. Because as JPM said "if a Spanish EU/IMF bailout package covered the government’s gross funding needs through the end of 2014, and included €75bn for bank recapitalisation, then it would amount to around €350bn." At roughly a third of its GDP, this is, needless to say, more money than Spain can procure. But, in a very Stalinesque sense, where everyone is merely a statistic, that is essentially the same as saying no one.  It is also certainly not helpful to any Spanish readers who may be worried about their deposits (and investments) which in a world of total disinformation, will first be lost before the government advises caution and safety. So instead we go to Goldman Sachs which has conveniently constructed the following analysis, which replicated the loss provision calculation of Bankia, and applies it to the other listed banks. The result: in addition to the €19 billion in bail out costs for Bankia, Spain will need to spend at least another €25 in bailout funding for six other listed banks which include CaixaBank SA, Banco Santander, Banco Popular Espanol, BBVA, Banco Espanol de Credito SA, Bankinter SA.

So now we are not dealing with mere "statistics."

The capital need breakdown is as follows: "Pro-forma capital gap assuming 9.5% CT1 hurdle rate, loss estimates comparable
to those outlined by BKIA and front-loaded in 1H12"

And in the grand scheme of things:


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Thu, 05/31/2012 - 12:41 | 2480042 vast-dom
vast-dom's picture

Come on asswipes don't you get it? Just fucking CNTL+P the €25trillion. What the FUCK IS SO HARD ABOUT DEPRESSING THE 2 KEYS? 

Thu, 05/31/2012 - 12:43 | 2480051 LawsofPhysics
LawsofPhysics's picture

LOL!!  Moral Hazard on steroids, this will end well.

Thu, 05/31/2012 - 12:48 | 2480080 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

The "moral hazard" and "rational consumer" theories of economics no longer apply.  Bernanke's new text, "Economics for Dummies" will consist of the new theories, "Print future tax revenue now to expand the money supply so that the chief export of 1st World Nation-States, debt, is cheap, providing the Nation-States with enough liquidity to make it past a reality that no one except those damn Doomers wants" and "Moral hazard?  My banker friends love me!  I love sitting at the cool kids table!"

Thu, 05/31/2012 - 12:50 | 2480103 LawsofPhysics
LawsofPhysics's picture

Works until the commodity complex blows up and real shit stops getting delivered.  Now where have we all seen this before? 

Thu, 05/31/2012 - 12:54 | 2480128 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Shhh!  Bernanke is trying to sell some books here!

Thu, 05/31/2012 - 12:57 | 2480150 AL_SWEARENGEN

If these cocksuckers would just tell the people the truth everything would be better off.  Instead they do the only thing they know which is to lie, and confuse, and steal what people come to by toil.  

Thu, 05/31/2012 - 13:07 | 2480205 NotApplicable
NotApplicable's picture

Nah, they just need to hire Baghdad Bob.

Thu, 05/31/2012 - 13:20 | 2480282 DosZap
DosZap's picture

Works until the commodity complex blows up and real shit stops getting delivered.  Now where have we all seen this before? 

A Huge +1.

Just saw a large jar of Miracle Whip, was $3.00 last summer, @ $4.69,imagine when it all hits.+63% increase.

There is NO inflation....none, except for what it takes to keep you alive.

Thu, 05/31/2012 - 13:13 | 2480244 TheGardener
TheGardener's picture

Don`t post drunk, or so they told me.

As in an editors shoes, that translates into uninspired..

Thu, 05/31/2012 - 12:43 | 2480052 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Can I haz bailoutz?

Thu, 05/31/2012 - 12:45 | 2480064 vast-dom
vast-dom's picture

bailoutz, u haz it!

Thu, 05/31/2012 - 13:02 | 2480176 BlueCollaredOne
BlueCollaredOne's picture

I lurk the chat room.


Thu, 05/31/2012 - 13:05 | 2480196 vast-dom
vast-dom's picture


Thu, 05/31/2012 - 13:05 | 2480193 theTribster
theTribster's picture

I don't has it here wiz me now but I have it close by....

Thu, 05/31/2012 - 13:07 | 2480204 vast-dom
vast-dom's picture

So what do we do, walk in and start over? 

Thu, 05/31/2012 - 12:49 | 2480095 HD
HD's picture


Ben's keyboard is still sticky from operation "twist"...

Thu, 05/31/2012 - 13:01 | 2480110 vast-dom
vast-dom's picture

he cleaned his keys off with special babywipes; Ben don't need no Spiderman towels.


as of 12:55p today the DOW is in the green! Wonder (CNTRL+P) why??????

Thu, 05/31/2012 - 16:07 | 2481007 James-Morrison
James-Morrison's picture

Ben's keyboard only has two keys and he is missing the "P", leaving only Ctrl.

Thu, 05/31/2012 - 12:54 | 2480132 Quinvarius
Quinvarius's picture

They are practicing on gasoline pumps on the corner.  They are trying to get "the perfect pump".  How long do you hold down CTRL P to get to exactly 25 trillion?

Thu, 05/31/2012 - 13:08 | 2480212 NotApplicable
NotApplicable's picture

Depends on whether or not you have Sticky Keys turned on.

Thu, 05/31/2012 - 13:26 | 2480281 HarryM
HarryM's picture

"Wondering what prompted the most recent "month end mark up" ramp in stocks?"


Thanks - would have been great to know about 1-1/2 hours ago

Thu, 05/31/2012 - 19:34 | 2481722 phungus_mungus
phungus_mungus's picture

While they are at it, have them print me up a few hundred million too! 

Thu, 05/31/2012 - 12:43 | 2480048 Joshua_D
Thu, 05/31/2012 - 12:50 | 2480101 Joshua_D
Joshua_D's picture

Soon to be followed by ...

Thu, 05/31/2012 - 12:44 | 2480056 StockHut
StockHut's picture

Didn't get to my local Bankia branch in time to get the Spiderman towel. Damnit.

Thu, 05/31/2012 - 14:11 | 2480573 Marginal Call
Marginal Call's picture

It's the new peg:  300 Euro/spidey towel


Markets are catching up quick.

Thu, 05/31/2012 - 12:44 | 2480059 Joebloinvestor
Joebloinvestor's picture

Why is it it took 5 years or more for Greece to collapse and Spain is gonna do it in a matter of months?

Was Spain just travelling a parallel path and didn't get press time?

Is the Spain default (I assume one is comming) gonna be the trigger for a rise in gold?

Thu, 05/31/2012 - 12:51 | 2480107 5880
5880's picture

If you looked at the numbers it's been happening,

if you're waiting for CNN or CNBC to tell it to you...... Surprise!!!!!! they suck

Thu, 05/31/2012 - 13:44 | 2480415 XitSam
XitSam's picture

The Financial Trials of 2017 were a series of tribunals held by the reconstituted governments after the financial and political collapse of 2013, most notable for the prosecution of prominent members of the economic, financial and political leadership of the G8 countries. The trials were held in the capital cities of the major financial nations. The first and best known of these trials was the Trial of the Central Bank Presidents, including the IMF and World Bank. Tried were 25 of the most important officials, though several key architects of the collapse (such as Ben Bernanke, Christine Lagarde and Mario Draghi) had committed suicide before the trials began.

Thu, 05/31/2012 - 12:56 | 2480142 Mark123
Mark123's picture

Everything has collapsed....USA, Spain, Italy, France, Ireland, Portugal, Spain, China, India etc etc.  However - the central banks working with their puppet governments have papered over the collapse with their unlimited magic debt creation machine (perpetual motion?). 


What everyone is waiting for is some big economy (like Spain) to call the bluff.  No country will do that unless they have the support of the banksters (their bosses)....great fortunes will be made when the real collapse comes.  Sadly it will be the end of what we have come to accept as prosperity and stability.

Thu, 05/31/2012 - 13:10 | 2480224 Oh regional Indian
Oh regional Indian's picture

Patience Mark, it's a'coming, down the line, like a choo choo train with no driver or brakes...

June 6th.... stay loose, stay nimble or stay OUT.



Thu, 05/31/2012 - 19:41 | 2481741 phungus_mungus
phungus_mungus's picture

All that money and all those fortunes will do them no good once the revolutiuons start. 


We've seen this before, in 1789 and history is repeating itself.



Thu, 05/31/2012 - 13:09 | 2480220 NotApplicable
NotApplicable's picture

The drain in Spain falls mainly due to pain.

Thu, 05/31/2012 - 19:38 | 2481735 phungus_mungus
phungus_mungus's picture

Its not just Greece and Spain... Italy isn;t much better off.... the media lies its asses off, they almost have to. If they told the truth relative to what is going on in the EU... we would see the mother of all bank runs followed immediately by the mother of all collapses then global depression.... 

Thu, 05/31/2012 - 12:45 | 2480063 slaughterer
slaughterer's picture

Instruction: if the the word "bailout" and "Spain" or "Greece" appear in the same sentense, BUY equities, BUY EUR, SELL Treasuries. 

Thu, 05/31/2012 - 12:47 | 2480074 vast-dom
vast-dom's picture

TBT biyatchez!


huffin on hopium markets miraculously floated up!

Thu, 05/31/2012 - 12:45 | 2480067 Dr. Engali
Dr. Engali's picture

Good Lord...destroy the debt and move on. It's pretty fucking simple and far easier than holding your hat out every day.

Thu, 05/31/2012 - 14:46 | 2480709 roadhazard
roadhazard's picture

The debt will be destroyed but only after taking everything you own.

Thu, 05/31/2012 - 12:46 | 2480073 camaro68ss
camaro68ss's picture

The Titanic has come to save the passangers of the Lusitania. Its all good now 


Thu, 05/31/2012 - 12:57 | 2480149 kridkrid
kridkrid's picture

Little known fact: the Germans took out an ad in the NYT a few days before the Lusitania set sail warning passengers that the ship was running ammunition and would be seen as an act of war. Another little known fact, the three most vocal people who offered opposition to the creation of the fed died when the Titanic sunk.

Thu, 05/31/2012 - 19:12 | 2481675 TheFourthStooge-ing
TheFourthStooge-ing's picture

kridkrid said:

Little known fact: the Germans took out an ad in the NYT a few days before the Lusitania set sail warning passengers that the ship was running ammunition and would be seen as an act of war.

The German embassy warning, a prepaid ad placed in 50 American newspapers, was issued on April 22, 1915. The Des Moines Register ran the ad the following day, but east coast newspapers, including the New York Times, delayed publication of the ad until May 1. The Lusitania departed New York on its final voyage on May 1, 1915, at 10 AM.


Thu, 05/31/2012 - 23:31 | 2482441 StychoKiller
StychoKiller's picture

Explained in "The Creature From Jekyll Island, a Second Look at the Federal System", 5th Ed., G. Edward Griffin, ISBN:  978-0-912986-45-6

Thu, 05/31/2012 - 12:46 | 2480075 Piranha
Piranha's picture

not even the bots bought that move

Thu, 05/31/2012 - 13:11 | 2480227 NotApplicable
NotApplicable's picture

Well, that's immaterial. What's important here is, did they quote stuff it?

Thu, 05/31/2012 - 12:47 | 2480077 Paul Atreides
Paul Atreides's picture

OT: Any live feeds on the Irish Referendum?

Thu, 05/31/2012 - 14:45 | 2480706 Non Passaran
Non Passaran's picture

Who cares?
The government fucks said it'd be repeated until it passes.

Thu, 05/31/2012 - 15:22 | 2480845 Grimbert
Grimbert's picture

They don't start counting til tomorrow, but from 9.30am BST (Irish summer time?):


Thu, 05/31/2012 - 12:48 | 2480084 chet
chet's picture

ZH Opinions:  If there is a sizable QE3 will it juice the stock market like the previous two, or will it fall flat?

Thu, 05/31/2012 - 12:50 | 2480105 Dr. Engali
Dr. Engali's picture

It will have to be big as the market has already priced in a trillion at least. Anything less than 2 trillion will be disappointing to the markets.

Thu, 05/31/2012 - 13:15 | 2480250 chet
chet's picture

Seems like things will have to get much worse before they throw out a number like that.

Thu, 05/31/2012 - 12:53 | 2480126 HD
HD's picture

Huge and I mean huge week long rally - but Ben can't print jobs or fix housing so unless QE3 is truly massive it would run its course in a month or two tops imo...

Thu, 05/31/2012 - 13:25 | 2480303 mayhem_korner
mayhem_korner's picture



The fear of printing is the fear of finding out that printing no longer works.  Kinda like why men don't go to the doctor.

Thu, 05/31/2012 - 23:34 | 2482445 StychoKiller
StychoKiller's picture

Every time I go to the doctor, I end up getting a part removed -- last time it was my gall bladder!

Thu, 05/31/2012 - 12:55 | 2480129 slackrabbit
slackrabbit's picture

Being serious for once, I think they are really reluctant to print....but if they do, it will be 'shock and awe' big. That's why I think they are holding off; because they know it s not working and diminishing each time.

I think this would be one of those 'f**k it' moments, where you print so big, people / politicians can't say you didn't try.

(no that it'll work...but thats not the point)

Thu, 05/31/2012 - 13:08 | 2480214 chet
chet's picture

Interesting take.  I see what you mean.

I guess I have been leaning towards an announcement fairly soon, like in June.  I think they are up against the election now, and they either have to pull the trigger prematurely, so they can't be accused of doing it right before the election, or they basically have to commit to waiting all the way until November to announce anything.  I think that commiting to that wait might make them really nervous.

But I agree that QE3 is likely to be the last hurrah, so they would have to make it huge like you say, and they won't be ready to go that big until the economy and market are truly in huge pain.

I just can't see them making a huge of change of course and not trying printing at least one more time.

Thu, 05/31/2012 - 13:43 | 2480413 fonzannoon
fonzannoon's picture

How about they don't print in the public eye but behind the scenes they buy the shit out of everything to keep a floor under it?

Thu, 05/31/2012 - 13:17 | 2480267 NotApplicable
NotApplicable's picture

It's all about pre-conditioning expectations. Just like how they initially said there was no meltdown at Fukushima, even though they knew it within hours. Then only later once it's obvious to all ("priced in," so to speak), do they finally admit it.

Benron has no choice but to print, else his game ends instantly. His task is the exact same as TEPCO's, lie, lie and deny, all while doing it anyway. Eventually, things will be seen as so fucked up, printing will be a "no-brainer" as the reality will be seen as "just how much worse can printing make it all."




Thu, 05/31/2012 - 14:22 | 2480634 slewie the pi-rat
slewie the pi-rat's picture

hey, N_A!

imo, fuk_u is not fully "priced in" yet

msLagarde gets a new asshole here!  bottoms up, tyler, and bong-ho, BiCheZ!

my take is that the cBs will print what they need to keep their goobermints inBidness and maybe a bit more for other sovereigns or to prop-A-zombie to put out a fire (firewalling)

as tyler and others have taken pains to try to point out to people:  the game changed in august, 2011

this ain't 2010 any more and the moronic shitheads who can't stop trying to con people into thinking it IS or that "we're heading to 2008, again" may take another several years to understand that centralBankstering has been given god-like new powers to control/regulate any and all banking and financials

and muddle means muddle, too

if the numbers aren't real, and the analyses are based on these numbers, then the "things are not as they appear" has gone to a new level

selectivity in who lives and dies, financially has reached new laser-like medical-like "invasiveness"  and accuracy

hence we see "wealth transfers" as these "crises" are spun before a world where the 99% are basically:  brainwashed fuking overweight morons

many/most of the ubers also have no fuking idea what is going on with their wealth, either;  theyRinBonds;   entire nations have zeroCluez where what goobermint-unionized "workers" have been promised is gonna come from

why:  "the economy, styooopid!"

easy as pi, see?

unfortunately, there IS no quick "fix" for the bankster-fraud damges done in these latest episodes of international, legalized, fascist-banksterism WAVES of criminality

so we are ALL getting the slow-roasting on the spit over the pit over fire and coals

who the hell do these "god-like book-cookers and pound-of-flesh types" think they fuking ARE?

we know how to cook, too, don't we?

thus sez zaraSlewster!  L0L!!!

Thu, 05/31/2012 - 12:57 | 2480154 Village Smithy
Village Smithy's picture

That's the problem, it most certainly will juice equities along with PMs, oil and commodities in general. Very little of QE makes it into the economy. It jacks up the price of everything except...wages. IMO. 

Thu, 05/31/2012 - 14:23 | 2480639 Bob
Bob's picture

Ben's damn "wealth effect" just doesn't seem to do it.  Wonder why:

Thu, 05/31/2012 - 12:48 | 2480087 Killtruck
Killtruck's picture


Thu, 05/31/2012 - 12:50 | 2480097 slackrabbit
slackrabbit's picture

Dear God

Thanks for the new PC.

I noticed the IMF / EU,  will /  are back to lying this to increase our  time stacking?

Anyway thanks dude, Max Payne tomorrow



PS please take care of Ben printer - apprently its worth more than a computer in 1969



Thu, 05/31/2012 - 12:50 | 2480100 ebworthen
ebworthen's picture

I get it; pay for your happy meal with a $10 bill and get change back for a $20.

Thu, 05/31/2012 - 12:51 | 2480109 Alien Harvest
Thu, 05/31/2012 - 12:52 | 2480116 SDRII
SDRII's picture

US Treasury deputy secretary rushed to Europe...

According to the U.S. Treasury Department statement, Brainerd 529 to 61 between a visit to Greece, Germany, Spain and France, meeting with senior government officials of these countries to discuss preserving the European economic stability and promote economic growth programs.

Thu, 05/31/2012 - 12:52 | 2480117 rsnoble
rsnoble's picture

Let's just start war with Iran so we can solve all of this. LOL.

Seriously........this is one fucked up world.  That's what scary is it's all going to hell at once. Interesting times ahead.

Thu, 05/31/2012 - 13:02 | 2480179 Paul Atreides
Paul Atreides's picture

Syria will have a no fly zone and laser guided democracy within 2-3 weeks. The CIA massacre in Houla manufactured consent MSM lie bullshit is prevailing. They need to take out Syrian SAM sites before moving on to Iran. Russia is not going to be a happy bear.

Thu, 05/31/2012 - 13:12 | 2480235 the not so migh...
the not so mighty maximiza's picture

The Russians were allready blunt honest about what they would do if that happened.

Thu, 05/31/2012 - 13:18 | 2480264 Paul Atreides
Paul Atreides's picture

Congress isn't thrilled about UN/ZATO/POTUS either HR107

Thu, 05/31/2012 - 13:22 | 2480294 NotApplicable
NotApplicable's picture

I wonder if Jones realizes he's being set-up as the next Neville Chamberlain?

All it takes is a false-flag on "friendly" soil, and the herd will rise up demanding blood sacrifice, yet again.

Thu, 05/31/2012 - 12:53 | 2480120 charms9
charms9's picture

Would it be possible for the Spanish banks with US subsidiaries (like BBVA) to somehow use FDIC coverage? For instance could they confiscate (for lack of a better term) the Compass account holders' dollars, move them to Spain and then leave the FDIC holding the bag for US depositors' funds? On the surface this would seem illegal, but when the established banks, the Fed and the gov't interests align, magic seems to happen.

Thu, 05/31/2012 - 12:59 | 2480162 insanelysane
insanelysane's picture

or worse.  Thinking of pulling my money out another one of these banks.  We could be Corzined with the excuse, "you're money is really in Spain and isn't a deposit of the US so you need to go through the Spanish legal system"

Thu, 05/31/2012 - 12:59 | 2480165 catacl1sm
catacl1sm's picture

Isn't that exactly what MF Global did with it's US funds?

Thu, 05/31/2012 - 12:54 | 2480127 lizzy36
lizzy36's picture

From the WSJ article:

"A bailout loan could stretch the resources of both the IMF and the euro zone
to breaking point and raise serious questions about the purpose of the euro,"
another of the people said.

"Neither the IMF, nor the euro zone, can shoulder this bill with three other
euro-zone bailouts in progress. The money is simply not there," a second person

Alas don't worry Spain is going a begging:

Spanish government officials are embarking on a flurry of diplomatic visits,
with deputy Prime Minister Soraya Saenz set to meet U.S. Treasury Secretary Timothy Geithner and the International Monetary
Fund's Managing Director Christine Lagarde Thursday on what the government described as a
routine visit. IMF spokesman Rice said Lagarde would be discussing recent
developments in Spain. 

Feel so much better that Timmy is in the room now.

Thu, 05/31/2012 - 13:19 | 2480278 Mark123
Mark123's picture

Makes one wonder how much longer the market can continue to trade off political/central bank meetings/pronouncements?  Not at all healthy in the long run.


I don't think there is anyone on Earth that could say where the stock market is heading (you know...that thing used to raise capital for business investment).

Thu, 05/31/2012 - 13:26 | 2480307 NotApplicable
NotApplicable's picture

Oh, I think there's several people who know exactly where it's going, as well as when.

You need to rid yourself of the false notion that such a thing as a "market" still exists. Otherwise, you're confusing shadows for substance, such as in Plato's "Allegory of the Cave."

Remember, with enough printing presses, there isn't anything they can't buy, at any price.

Thu, 05/31/2012 - 15:51 | 2480837 slewie the pi-rat
slewie the pi-rat's picture

hey, liz_Z!  thxz!

they already control pretty much everything that "money" can buy, don't they? 

when money = debt, the debt tends to stayPut and the money tends toMove

the "movers" do get what the money can buy, but the debt-prison for thePeople is where the wake-up call should be sounded

as i tried to SCREAM out here last summer;  if this bullshit doesn't STOP, we ARE freaking doomed

confidence is important in commerce and life, but when commercial life = a conGame, maybe it is time for people to entertain a new belief system beyond:

evolution = social engineering + what me worry, the programmming is grrreat this season?

this would be wonderful if it worked, but:  it don't work!!!

trust me!  the fuking programming ain't gonna "evolve" you to anything but a deeper sleep, btw, either, and, like those in theCave of theRepublic, the shadows will only seem more real

this has always been true;  historically, very few can see past the illusion of human perception + conditioning

people still don't think we are totally lost, yet;  they still think we might be able to muddle thru this and get back to "growth"

they are full0shit;  the when the problem is that the cultural ideals being actualized and quant0^0mly collapsed on our styooopid asses don't match those "ideas"?   even the shadows on the wall have trouble getting thru the events

maybe when the shit in the cave has always smelled like shit, but maybe the conditioning that it smells like lavender will wear off enuf4 a whiff of theReal, soon

until people realize they are truly lost, they will not accept the ex machina guides who have always understood slavery and how to avoid it with (superman):  liberty and justice for all

i can think of no time in herstory when children were not sold for money;  we have gone with the calculus, it seems, and differentiated to the abstract future generations and capitalized them, too!  this works, psychologically, b/c we are conditioned that selling children = not good, BiCheZ!  but:

moMoney = tres bien + god's blessing too (no less will do)

fuking fabulous, rilly, when ya think abt it, doncha think?

looky: long bond = 150+;  note = 135+

tyler and slewie are selling shares in a zH new marketing partnership:  fearBeerTM;  it will be marketed under my avatar; tyler's is too expensive!  L0L!!!

Thu, 05/31/2012 - 14:07 | 2480551 mudduck
mudduck's picture

I hear they sent the Spanish edition of Mr. Panos out to get the money. His name is Mr. Spanos, and he say "Madam Shnitzelface Legarde, you give us a 'loan' and we take you nude jet skiing." "Genious."

Thu, 05/31/2012 - 23:42 | 2482462 StychoKiller
StychoKiller's picture

Time to whip out those Spiderman towelz FTW!

Thu, 05/31/2012 - 17:38 | 2481321 stocktivity
stocktivity's picture

Spain need IMF help....US contibutes 17% of the fund. That means Spain needs Timmy. Follow the bouncing ball.

Thu, 05/31/2012 - 12:54 | 2480130 SmoothCoolSmoke
SmoothCoolSmoke's picture

Obviously a prop job going on in the markets today.  Cushion for the NFP #?  Hammer weekly put holders?  Hard to say. but I thnk Monday looms as ominous.

Thu, 05/31/2012 - 12:55 | 2480134 insanelysane
insanelysane's picture

I'd like to thank all of the Spanish investors for buying US stocks today.  Apple and FB are your best bets with BAC and MS next because we have seen the floor.  And if you have extra extra cash, US real estate has also seen the floor.  </sarc>

Thu, 05/31/2012 - 13:00 | 2480151 carbonmutant
carbonmutant's picture
Spanish Regional Government Accounting Postponed, Press Conference by Montoro is Postponed Regional Government Debt Issuance Method Unclear

Hispabonos are central government guarantees of regional debt. The regional governments want central guarantees because without them, interest rates will skyrocket.

Thu, 05/31/2012 - 12:58 | 2480153 razorthin
razorthin's picture

Other reasons, real or imagined do not matter.  It is window dressing.  Must get bonuses.

Thu, 05/31/2012 - 13:00 | 2480170 seamus3500
seamus3500's picture

sell all 20,000 spiderman towels on ebay!!

Thu, 05/31/2012 - 13:03 | 2480186 tahoebumsmith
tahoebumsmith's picture

It's like watching a train wreck in slow motion wearing 3d glasses, the train keeps getting bigger and bigger as it approaches.

Thu, 05/31/2012 - 13:32 | 2480353 NotApplicable
NotApplicable's picture

"In the shuffling madess, of the locomotive breath,
Runs the all-time loser, headlong to his death.
He feels the piston scraping
Steam breaking on his brow
Old Greenspin stole the handle and
The train won't stop going
No way to slow down!"

Thu, 05/31/2012 - 13:38 | 2480373 NotApplicable
NotApplicable's picture

"He sees the banksters jumping off
At the stations - one by one.
Wall St. and his government
In bed and having fun.
He's crawling down the corridor
On his hands and knees
Old Greenspin stole the handle and
The train won't stop going
No way to slow down."

Thu, 05/31/2012 - 15:29 | 2480870 TheFourthStooge-ing
TheFourthStooge-ing's picture

He was goin' down the grade makin' 90 miles an hour
When his whistle broke into a scream
He was found in the wreck with his hand on the throttle
A scalded to death by the steam


Thu, 05/31/2012 - 13:48 | 2480437 exi1ed0ne
exi1ed0ne's picture

Unfortunately while we sit there munching popcorn with our 3D glasses firmly in place waiting for the big boom, that's a real train headed right for us.

Thu, 05/31/2012 - 13:04 | 2480191 crawldaddy
crawldaddy's picture

the world economy is like a sinking ship. The US may be the stern, Europe the bow.  If the bow starts going under first,all will run to the stern, doesnt mean the stern is safe, just means a lil safer until it to goes under too,  as it must.

Thu, 05/31/2012 - 13:08 | 2480213 jazz571027
jazz571027's picture

Not sure if this is relevant, but thought it was interesting...



Why has the Treasury revoked debt-trading sections of a 1939 Act – without telling Parliament?


Those of us who spend too much time watching government at its dirty work know the phrase ‘statutory instrument’, or SI, rather too well. Oddly enough, they are not tools for poking statues of eminent Conservatives. They are what has become more commonly known as legal instruments. New Labour of not entirely blessed memory passed 37,218 of them…usually as a means of getting something done about which they didn’t want a debate.

A few diligent MPs (David Davis is one, Frank Field another) often scan the SI lists looking for things like the reintroduction of chimney sweeps, incarceration of Tom Watson, invasion of the Planet Mars and so forth. Most of the other 618 (or so…I can’t remember these days) never bother. Everybody seems to have missed – or is happy to keep quiet about – a brand new one. A week ago today, the Coalition Government told us all very quietly indeed that it was going to revoke some parts of an ageing schedule from The Trading with the Enemy Act of September 5th 1939. The latter was passed two days after the Germans last went visiting their neighbours.

It may seem odd that the Act is still in force; but the truth is, it’s a useful thing to have on the Statute Book just in case another unpleasant European episode starts. Most of the articles about not selling battleships to Italians and sinking the French fleet have been revoked over time. But one very important one hadn’t until seven days ago. Three days later, on 25th May, it became law.

Stautory Instrument No 1367 states that ’1.  This Order may be cited as the Trading with the Enemy (Transfer of Negotiable Instruments, etc.) (Revocation) Order 2012 and comes into force on 25th May 2012. 2.  The instruments specified in the Schedule are revoked.’...

Thu, 05/31/2012 - 14:05 | 2480517 newengland
newengland's picture

Cheers, jazz. It is relevant. The sneaky barstewards are gearing up for the next stage of the world's biggest heist: record wealth transfer from the many to the few in the globalist central bank cartel and their chosen political pets in the dying days of the Fourth Reich, the EUSSR, pet project of the Trilateral Commission, largely led by those recently merged lil darlings - the Rothschilds and the Rockefellers.

NB: An ex-New Labour minister admitted in his diaries that the New World Order's beloved Gordon Brown, former British Prime Mentalist, warned the cabinet in 2004 that there would be a financial and economic fall in 2007.

Dateline: December 2007, the so-called 'Great Recession' began.

Regards to Frank and David, and remember: the German and Russian political elite and oligarchy have been soul mates since the early 20th century...around the time that Rothschild bankrolled Marx whose little pamphlets encouraged the bolsheviks, and spawned the 20th century's biggest killing machine: the Internationale of profitable warlike socialists and communists, eg Lenin, Trotsky, Stalin, Mao, Pol Pot, Hitler, Mussolini whose role has been handed to the Middle East. Different century. Different place. Different names. Same agenda.

Thu, 05/31/2012 - 13:17 | 2480262 HaroldWang
HaroldWang's picture

Great - a rescue plan for Spain!! 

What about the US though? I guess we'll ignore all the lousy data and just celebrate giving money to an insolvent country. Party on!

Thu, 05/31/2012 - 14:11 | 2480571 newengland
newengland's picture


Poor Greeks may commit suicide as we saw recently, but Spain has ETA, that explosive Basque separatist movement, and neighbour of the Catalans, the wealthiest part of Spain which is now demanding that the central government assist the regions.



Thu, 05/31/2012 - 13:18 | 2480272 SDS Trader
SDS Trader's picture

Am I the only one incensed about the true crime being committed here - the rescinding of the free Spider Man beach towel offer for anyone opening a Euro300 new account at Bankia ?

The collectible value alone will...well, as the character Kelly Bundy of "Married with Children" used to say, "bother the mind."

Thu, 05/31/2012 - 13:19 | 2480277 Chupacabra-322
Chupacabra-322's picture
Bilderberg 2012: The Official List of Participants

Editor’s note: The Bilderbergers now post the participant list on their “official” website. In the past, moles inside the organization would release the secretive list to journalists, most notably Jim Tucker of the American Free Press.

Final List of Participants


FRA Castries, Henri de Chairman and CEO, AXA Group

DEU Ackermann, Josef Chairman of the Management Board and the Group Executive Committee, Deutsche Bank AG
GBR Agius, Marcus Chairman, Barclays plc
USA Ajami, Fouad Senior Fellow, The Hoover Institution, Stanford University
USA Alexander, Keith B. Commander, US Cyber Command; Director, National Security Agency
INT Almunia, Joaquín Vice-President – Commissioner for Competition, European Commission
USA Altman, Roger C. Chairman, Evercore Partners
PRT Amado, Luís Chairman, Banco Internacional do Funchal (BANIF)
NOR Andresen, Johan H. Owner and CEO, FERD
FIN Apunen, Matti Director, Finnish Business and Policy Forum EVA
TUR Babacan, Ali Deputy Prime Minister for Economic and Financial Affairs
PRT Balsemão, Francisco Pinto President and CEO, Impresa; Former Prime Minister
FRA Baverez, Nicolas Partner, Gibson, Dunn & Crutcher LLP
FRA Béchu, Christophe Senator, and Chairman, General Council of Maine-et-Loire
BEL Belgium, H.R.H. Prince Philippe of
TUR Berbero?lu, Enis Editor-in-Chief, Hürriyet Newspaper
ITA Bernabè, Franco Chairman and CEO, Telecom Italia
GBR Boles, Nick Member of Parliament
SWE Bonnier, Jonas President and CEO, Bonnier AB
NOR Brandtzæg, Svein Richard President and CEO, Norsk Hydro ASA
AUT Bronner, Oscar Publisher, Der Standard Medienwelt
SWE Carlsson, Gunilla Minister for International Development Cooperation
CAN Carney, Mark J. Governor, Bank of Canada
ESP Cebrián, Juan Luis CEO, PRISA; Chairman, El País
AUT Cernko, Willibald CEO, UniCredit Bank Austria AG
FRA Chalendar, Pierre André de Chairman and CEO, Saint-Gobain
DNK Christiansen, Jeppe CEO, Maj Invest
RUS Chubais, Anatoly B. CEO, OJSC RUSNANO
CAN Clark, W. Edmund Group President and CEO, TD Bank Group
GBR Clarke, Kenneth Member of Parliament, Lord Chancellor and Secretary of Justice
USA Collins, Timothy C. CEO and Senior Managing Director, Ripplewood Holdings, LLC
ITA Conti, Fulvio CEO and General Manager, Enel S.p.A.
USA Daniels, Jr., Mitchell E. Governor of Indiana
USA DeMuth, Christopher Distinguished Fellow, Hudson Institute
USA Donilon, Thomas E. National Security Advisor, The White House
GBR Dudley, Robert Group Chief Executive, BP plc
ITA Elkann, John Chairman, Fiat S.p.A.
DEU Enders, Thomas CEO, Airbus
USA Evans, J. Michael Vice Chairman, Global Head of Growth Markets, Goldman Sachs & Co.
AUT Faymann, Werner Federal Chancellor
DNK Federspiel, Ulrik Executive Vice President, Haldor Topsøe A/S
USA Ferguson, Niall Laurence A. Tisch Professor of History, Harvard University
GBR Flint, Douglas J. Group Chairman, HSBC Holdings plc
CHN Fu, Ying Vice Minister of Foreign Affairs
IRL Gallagher, Paul Former Attorney General; Senior Counsel
USA Gephardt, Richard A. President and CEO, Gephardt Group
GRC Giannitsis, Anastasios Former Minister of Interior; Professor of Development and International Economics, University of Athens
USA Goolsbee, Austan D. Professor of Economics, University of Chicago Booth School of Business
USA Graham, Donald E. Chairman and CEO, The Washington Post Company
ITA Gruber, Lilli Journalist – Anchorwoman, La 7 TV
INT Gucht, Karel de Commissioner for Trade, European Commission
NLD Halberstadt, Victor Professor of Economics, Leiden University; Former Honorary Secretary General of Bilderberg Meetings
USA Harris, Britt CIO, Teacher Retirement System of Texas
USA Hoffman, Reid Co-founder and Executive Chairman, LinkedIn
CHN Huang, Yiping Professor of Economics, China Center for Economic Research, Peking University
USA Huntsman, Jr., Jon M. Chairman, Huntsman Cancer Foundation
DEU Ischinger, Wolfgang Chairman, Munich Security Conference; Global Head Government Relations, Allianz SE
RUS Ivanov, Igor S. Associate member, Russian Academy of Science; President, Russian International Affairs Council
FRA Izraelewicz, Erik CEO, Le Monde
USA Jacobs, Kenneth M. Chairman and CEO, Lazard
USA Johnson, James A. Vice Chairman, Perseus, LLC
USA Jordan, Jr., Vernon E. Senior Managing Director, Lazard
USA Karp, Alexander CEO, Palantir Technologies
USA Karsner, Alexander Executive Chairman, Manifest Energy, Inc
FRA Karvar, Anousheh Inspector, Inter-ministerial Audit and Evaluation Office for Social, Health, Employment and Labor Policies
RUS Kasparov, Garry Chairman, United Civil Front (of Russia)
GBR Kerr, John Independent Member, House of Lords
USA Kerry, John Senator for Massachusetts
TUR Keyman, E. Fuat Director, Istanbul Policy Center and Professor of International Relations, Sabanci University
USA Kissinger, Henry A. Chairman, Kissinger Associates, Inc.
USA Kleinfeld, Klaus Chairman and CEO, Alcoa
TUR Koç, Mustafa Chairman, Koç Holding A.?.
DEU Koch, Roland CEO, Bilfinger Berger SE
INT Kodmani, Bassma Member of the Executive Bureau and Head of Foreign Affairs, Syrian National Council
USA Kravis, Henry R. Co-Chairman and Co-CEO, Kohlberg Kravis Roberts & Co.
USA Kravis, Marie-Josée Senior Fellow, Hudson Institute
INT Kroes, Neelie Vice President, European Commission; Commissioner for Digital Agenda
USA Krupp, Fred President, Environmental Defense Fund
INT Lamy, Pascal Director-General, World Trade Organization
ITA Letta, Enrico Deputy Leader, Democratic Party (PD)
ISR Levite, Ariel E. Nonresident Senior Associate, Carnegie Endowment for International Peace
USA Li, Cheng Director of Research and Senior Fellow, John L. Thornton China Center, Brookings Institution
USA Lipsky, John Distinguished Visiting Scholar, Johns Hopkins University
USA Liveris, Andrew N. President, Chairman and CEO, The Dow Chemical Company
DEU Löscher, Peter President and CEO, Siemens AG
USA Lynn, William J. Chairman and CEO, DRS Technologies, Inc.
GBR Mandelson, Peter Member, House of Lords; Chairman, Global Counsel
USA Mathews, Jessica T. President, Carnegie Endowment for International Peace
DEN Mchangama, Jacob Director of Legal Affairs, Center for Political Studies (CEPOS)
CAN McKenna, Frank Deputy Chair, TD Bank Group
USA Mehlman, Kenneth B. Partner, Kohlberg Kravis Roberts & Co.
GBR Micklethwait, John Editor-in-Chief, The Economist
FRA Montbrial, Thierry de President, French Institute for International Relations
PRT Moreira da Silva, Jorge First Vice-President, Partido Social Democrata (PSD)
USA Mundie, Craig J. Chief Research and Strategy Officer, Microsoft Corporation
DEU Nass, Matthias Chief International Correspondent, Die Zeit
NLD Netherlands, H.M. the Queen of the
ESP Nin Génova, Juan María Deputy Chairman and CEO, Caixabank
IRL Noonan, Michael Minister for Finance
USA Noonan, Peggy Author, Columnist, The Wall Street Journal
FIN Ollila, Jorma Chairman, Royal Dutch Shell, plc
USA Orszag, Peter R. Vice Chairman, Citigroup
GRC Papalexopoulos, Dimitri Managing Director, Titan Cement Co.
NLD Pechtold, Alexander Parliamentary Leader, Democrats ’66 (D66)
USA Perle, Richard N. Resident Fellow, American Enterprise Institute
NLD Polman, Paul CEO, Unilever PLC
CAN Prichard, J. Robert S. Chair, Torys LLP
ISR Rabinovich, Itamar Global Distinguished Professor, New York University
GBR Rachman, Gideon Chief Foreign Affairs Commentator, The Financial Times
USA Rattner, Steven Chairman, Willett Advisors LLC
CAN Redford, Alison M. Premier of Alberta
CAN Reisman, Heather M. CEO, Indigo Books & Music Inc.
DEU Reitzle, Wolfgang CEO & President, Linde AG
USA Rogoff, Kenneth S. Professor of Economics, Harvard University
USA Rose, Charlie Executive Editor and Anchor, Charlie Rose
USA Ross, Dennis B. Counselor, Washington Institute for Near East Policy
POL Rostowski, Jacek Minister of Finance
USA Rubin, Robert E. Co-Chair, Council on Foreign Relations; Former Secretary of the Treasury
NLD Rutte, Mark Prime Minister
ESP Sáenz de Santamaría Antón, Soraya Vice President and Minister for the Presidency
NLD Scheffer, Paul Professor of European Studies, Tilburg University
USA Schmidt, Eric E. Executive Chairman, Google Inc.
AUT Scholten, Rudolf Member of the Board of Executive Directors, Oesterreichische Kontrollbank AG
FRA Senard, Jean-Dominique CEO, Michelin Group
USA Shambaugh, David Director, China Policy Program, George Washington University
INT Sheeran, Josette Vice Chairman, World Economic Forum
FIN Siilasmaa, Risto Chairman of the Board of Directors, Nokia Corporation
USA Speyer, Jerry I. Chairman and Co-CEO, Tishman Speyer
CHE Supino, Pietro Chairman and Publisher, Tamedia AG
IRL Sutherland, Peter D. Chairman, Goldman Sachs International
USA Thiel, Peter A. President, Clarium Capital / Thiel Capital
TUR Timuray, Serpil CEO, Vodafone Turkey
DEU Trittin, Jürgen Parliamentary Leader, Alliance 90/The Greens
GRC Tsoukalis, Loukas President, Hellenic Foundation for European and Foreign Policy
FIN Urpilainen, Jutta Minister of Finance
CHE Vasella, Daniel L. Chairman, Novartis AG
INT Vimont, Pierre Executive Secretary General, European External Action Service
GBR Voser, Peter CEO, Royal Dutch Shell plc
SWE Wallenberg, Jacob Chairman, Investor AB
USA Warsh, Kevin Distinguished Visiting Fellow, The Hoover Institution, Stanford University
GBR Wolf, Martin H. Chief Economics Commentator, The Financial Times
USA Wolfensohn, James D. Chairman and CEO, Wolfensohn and Company
CAN Wright, Nigel S. Chief of Staff, Office of the Prime Minister
USA Yergin, Daniel Chairman, IHS Cambridge Energy Research Associates
INT Zoellick, Robert B. President, The World Bank Group

GBR Bredow, Vendeline von Business Correspondent, The Economist
GBR Wooldridge, Adrian D. Foreign Correspondent, The Economist

Thu, 05/31/2012 - 13:22 | 2480292 Mark123
Mark123's picture

They left Ron Paul off the list!  Incredible!

Thu, 05/31/2012 - 13:27 | 2480314 magpie
magpie's picture

Jürgen Trittin ? Really ? Wow, almost got run over once at that guys garage.

Thu, 05/31/2012 - 13:38 | 2480377 Satan
Satan's picture

I have a great idea for that drone the Iranians "stole" from America...

Thu, 05/31/2012 - 14:23 | 2480637 newengland
newengland's picture

Once again, the list reveals some key players in the Borg's media machine of disinformation.

Plus that useless fat pig new Goebbels: Ken Clarke of the UK.

Decades ago, the freak New World Order's Trilateral Commission and its leading light David Rockefeller thanked major U.S. media for assisting in its plans by a code of omerta, public silence whilst assisting the propaganda - and its marketing wing, the Bilderberg Group.

The FT and the Economist lapdogs stay ever loyal to their Rothschild paymaster.

Thu, 05/31/2012 - 14:38 | 2480685 azzhatter
azzhatter's picture

Interesting list of jackoffs all assembled together. Planning the next world war to bring us out of our doldrums

Thu, 05/31/2012 - 15:07 | 2480790 roadhazard
roadhazard's picture

I thought Obama was the problem.

Thu, 05/31/2012 - 13:19 | 2480279 Clowns on Acid
Clowns on Acid's picture

Insightful article Tyler...congrats.

Goldman also has stated today that the world economy is looking deflation in the face. We all know what that means....bailouts are coming.

Question is.. in what form. Y'know in what form can the Fed and ECB spin the feckin' story and have equity and credit markets reverse and go north.

The only plausible story that would fit (the Bilderberg conference is discussing it now) has to involve gold /silver in some way. Else...runaway inflation bitchez.

Oh the Fed will raise interest rates if they see inflation? the yield curve from positive to negative? That should cost of Operation Twist to the US taxpayer 1 Zillion (1,000 Trillion).

Thier baliout story has to include PMs, or the game is over. Stay tuned to the Bilderberg conference. You will get the full story a day or two after they have established their market positions via Goldman and JPM (The Rockefellars and Rothchilds have merged ...remember?).

Thu, 05/31/2012 - 14:29 | 2480657 newengland
newengland's picture

RE: monetizing PMs. Perhaps this has become more urgent. China and Japan start dealing directly in their own currencies, bypassing the USD, this Friday. The Indian central bank is discussing a gold-backed bond, and the likes of Iran also insist they will accept barter or gold as payment for their oil.

Then, we have Basel III due by January 2013 which will encourage commercial banks to take gold into Tier 1, up from Tier 3.

Thu, 05/31/2012 - 13:20 | 2480280's picture

POS Deal of the day sent to me..... $4.9M second mortgage collateralized by unsold timeshare points   who wants in on this gem? rofl

Thu, 05/31/2012 - 14:56 | 2480744 brooklynlou
brooklynlou's picture

Now if they were collateralized with unused Marlboro Miles, I would jump on it ...

Thu, 05/31/2012 - 13:21 | 2480289 marcusfenix
marcusfenix's picture

this is the headline on marketwatch:

"stocks cut drop on reported rescue plan for spain"

so, would this anything like the greek rescue plan? cause we all know how that worked out...

here we have yet another eurobailout rumor/plan/maybe,possibly another PIIGS might get some money but not really and not that it will really help anything anyways market dead cat bounce.

damn, there are some very, very stupid people out there who just seem to love running into that same brick wall head first over, and over and over again.

Thu, 05/31/2012 - 13:28 | 2480320 Mark123
Mark123's picture

They need something to use to justify HFT-driven ramping that supports the market. 


This is why the market is only used by speculators these days - the investors left long ago (other than pension funds and 401Ks etc which leave the sheeple's money in "for the long term").

Thu, 05/31/2012 - 13:22 | 2480293 brainwashed
brainwashed's picture

If QE3 is coming, and it looks pretty inevitable at this point, I'd like to offer Helicopter Ben a new strategy. Just print fresh crispy dollars and give every citizen of the US of A ten grand a piece. That'd come to a little over 3 trillion and will stem deflation for another 12-15 months. In addition, it doesn't inflate Fed's balance sheet and the sheeple will be pretty happy to have money to pay down a little debt and buy some new Istuff. Problem solved and BO is reelected.

Thu, 05/31/2012 - 13:30 | 2480340 adr
adr's picture

In stead just announce that everyone's mortgage has been paid off and then we can kill all the ghetto trash when they riot due to the unfairness of it all.

Thu, 05/31/2012 - 13:40 | 2480400 brainwashed
brainwashed's picture

that'll work, too. And ghetto trash won't riot, their mobile home values will quadruple in an instant. Also, under my plan octomom would become a pretty desirable bride, once you unload 8 childern unto the government.

Thu, 05/31/2012 - 13:25 | 2480305 BudFox2012
BudFox2012's picture

This day has played out exactly as expected.  Lots of bad economic data, followed by the midday "rumor" that sends the market soaring.  Now only the last part needs to be finished: hold onto the gains, even after the rumor is proven to be BS.  Happens a couple of times a week these days.

What will be interesting is that now that they have the suckers back in today, are they going to kick there ass with shorts tomorrow when the really really bad news comes out?

Thu, 05/31/2012 - 13:29 | 2480330 BudFox2012
BudFox2012's picture

Oh well, at least the day isn't a total loss as FAKEBOOK is getting it's ass handed to it again, down over 4% yet again. 

Thu, 05/31/2012 - 13:35 | 2480364 Mark123
Mark123's picture

I'll bet that there will be an official announcement soon (ECB, IMF) about a new crazy kick-the-can kamikaze type support thingy that will be the excuse for the primary dealers to crush shorts and run the market for a month or two with the HFT bots leading the charge.


Ah, nothing like the smell of charred shorts in the morning!


Thu, 05/31/2012 - 14:47 | 2480714 newengland
newengland's picture


See the list below for the Bilderberg meeting; representatives of big government, big banks and big business plus key media propagandists? That's corporatism, the rule of Big Brother State, pulling the levers of power and money.

Computers perform most trades nowadays; algorithms rule. The human traders are window dressing, giving the appearance of an open cry market.

As Stalin once said: anyone can vote, no matter. It's not the person who votes that decides. It's the person who counts the votes.

Who owns and controls those trading computers and algorithms; who counts the most?

Thu, 05/31/2012 - 13:28 | 2480326 adr
adr's picture

150 point pop in the Dow and a $1 pop in crude. Market forces at work.

You can't even leave your computer for an hour.

At least Facefuck is still down on the day.

Rumor of unrefuted rumor that another rumor will be coming that will announce a rumor that all is fixed based on the old refuted rumor that fixed things for a few minutes before the next rumor came and proved the old rumor was false setting up the new rumor that sent the market up 1% in ten minutes.

Thu, 05/31/2012 - 13:31 | 2480346 BudFox2012
BudFox2012's picture

Yep, and watch, even to the dullards it should be obvious this rumor is BS, yet the market will hold most of this gain to finish near break even or maybe even above.  This after THREE peices of bad economic info this morning.  Amazing

Thu, 05/31/2012 - 13:35 | 2480363 kevinearick
kevinearick's picture

Trust: Conspiracy 2 Wed

What you are witnessing is a controlled die-off, running on automatic, which is the most stable way to replace an empire iteration. Measuring an economy by spending on FIRE, economic activity, is pretty damn stupid, but what do you expect from an empire run by teenagers?

Trust increases return on decreasing risk. If you do not have trust at the root, you are certainly not going to have it at the periphery (negative quantum backlash feedback emerging from incremental positive feedback). Conspiracy is derivative. Replicating robots programmed to think alike is derivative. Women handing over basic reproductive health to physicians for selective breeding is derivative. War is derivative.

Empires breed stupidity, decreasing return on increasing risk, promising the opposite, by borrowing from the future based upon confidence in their ability to continue breeding stupidity to infinity. That’s what they do.

The point of the obey clause is for both parents to learn trust, in their ability to navigate the unknown together, as an example to their children, to build community. There is explicit obeyance and implicit obeyance for each to learn, surprise, surprise. Learn to walk in the shoes of another. L-I-S-T-E-N, then C-O-M-M-U-N-I-C-A-T-E. Design your community accordingly.

Operating on the assumption of scarcity, based upon hoarding, is stupid. You have the proven bounty of the earth and the entire universe to explore, bequeathed to you by God. Only a teenager fears another teenager. Get on with life. Weaning yourself from currency is the process, not the destination.

Like all things practical, you learn by doing, then you figure out how you did it, and then you repeat the process for confirmation, before moving forward. War is a matching game, until it isn’t. Raising children in poverty is for replicating robots, not people.

From Poetry & Marriage

The meaning of marriage begins in the giving of words. We cannot join ourselves to one another without giving our word. And this must be an unconditional giving, for in joining ourselves to one another we join ourselves to the unknown. We must not be misled by the procedures of experimental thought: in life, in the world, we are never given two known results to choose between, but only one result that we choose without knowing what it is.

Form joins us to time….

Wendell Berry

The basis of trade, and the entire free enterprise system, is the standard marriage contract, which does not include the corporation: public, private, or non-profit, but go ahead and prove me wrong.

Thu, 05/31/2012 - 13:48 | 2480434 SonOfSoros
SonOfSoros's picture

This whole week has been filled with bull traps.

Thu, 05/31/2012 - 13:59 | 2480490 ptoemmes
ptoemmes's picture

There's alwasy the chance the cat is dead this time - in this multiverse -  once we look:

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