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I'm fucking tired.
It's 10:30 p.m., and I'm skunked on Jinro Soju.
And Gold bless you and yours.
added Latin America
If there's a credit crunch in your neighborhood Who ya gonna call? The Bernank!
If liquidity's strained and CDS don't look good Who ya gonna call? The Bernank!
<chorus sung by The Bernank>
I ain't afraid to print I ain't afraid to print
When you up to your neck in shit -- don't open your mouth.
Surely the geniuses who designed the Euro Banks' recent Stress Tests would have included a little sovereign default in the mix to ensure banks were capitalized sufficiently to handle Greece going under?
What? They didn't? Because a Eurozone member defaulting is 'Impossible' due to the strength of political will to prevent such a thing?
Oh dear. Such hubris.
I wonder where else 'Political Will' will be found wanting.
Bank Run Bitchez!
Lol, this european farce is increasing my diaper consumption by day.
Nationalize the banks, anyone who wants credit should be able to get credit. Call it the Solyndra Act!
Ah that great bad news should be good for 300+ on the Dow
Its like they alley-oop, bounced the basketball off the backboard for Bernake to come in and do a 360 dunk this afternoon. Bullish, I can't feel my face
that sounds like it is the case. Same kind of move where BOE announce more QE on their side.
300 billion! Hahahahaha! That's way more than that. More like a few TRILLIONS.
you confuse BAD debt with total debt. Total PIGS debt is 2.5 trillion. So maybe 300 billion is optimisitc.
what is 300 billion in the world of trillions! expressed in fiat money, not in hi-rising gold!
When gold is at 50000 USD/oz, the hundred tons of Greece will be worth : 100 x 32k x 50k = 160 billion USD.
Debt over. Wait for the fiat to collapse and you go from sub prime debtor to prime debtor. The banks will be queing up to lend you fiat!
Congrats to ZH yet again....
Becky Meehan of CNBC Europe cited ZH this AM, AND she showed the homepage of ZH on the TV as well.
Again, well done, ZH., and well done to all of us who help make the site what it is today.
6 trillion euros
Well it turns out that there is really only one bank in the whole world: Ben's Banky. Without it everyone else would be so massively insolvent that they'd have to close and new people would start over again. Hey, did I say start over again?
A slow motion train wreck and the silver vigilantes have a front row seat.
"Sees €300 Billion In Euro Bank Risk Exposure"
Bullish for European Banks, cause they are up and running :)))
And Bearish for GOLD..
It's the day before Comex Options Expiry. Everything is bearish for gold today. It's traditional.
More QE? Bearish.
No more QE? Bearish.
Bank Run? Bearish.
Sovereign Default? Bearish.
Massive physical demand? Bearish.
It's almost as if that Lagarde dude wants the European banks to fail.
Hey--no bagging on Lagarde. She's kinda sexy in that Judy Dench, butch dom kinda way. Green if you'd go there.
There politicians are as bad as ours. 300 Billion just a down payment.
And the list moves on. First, NFLX, Then RIMM and now coal stocks. WLT. Tick tock, tick tock.
What is the purpose of this communication? If it is suppose to scare people, I'm not sure it works. We are all like a bunch of Wookies waiting for the Death star to explode to celebrate all night long!
" Yet even so it is still €700 billion short of Goldman's estimate for a €1 trillion hole in Europe"
Let us all not forget that it was this same Goldman that got 56 waivers on its Financial Statements only in 2008 to be able to continue operating....
The agenda of the IMF seems clear; taxpayer funds to the banks , as a solution to the sovereign debt issues. Can anyone recommend a book that includes the history and shareholder of the IMF please. I want to understand better who this organisation really represents.
300 Billion.... 700 Billion.... a Trillion? They are just arguing over how long the sword is that is going to slice off their heads.
My low opinion of the IMF comes from John Perkins ( Confessions Of An Economic Hit Man ). Knowing John as I do, from being a Board Op in talk radio, my appraisal of the IMF statement can be much more colorful. The IMF is just emptying the trash cans in the whorehouse, with their statement. They must wear latex gloves when they count currency.
The report said banks should raise capital privately although public funds may be necessary for viable banks - IMF [bolding mine]
Ahhhh, so the IMF now concedes the lack of viability within unspecified portions the banking sector. The Eurocrats will be thrilled, chiefly among them the parser in chief, JCJ
Thanks Chrissy! A bottle of red table wine on account for you.
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