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It Just Went From Bad To Far, Far Worse As Germany Says Italy Is Too Big For EFSF To Save, Refuses To Carry Euro Bailout Burden
Remember when we said (yesterday) that Germany will soon balk over the fact that it is pledging its entire economy to bail out an insolvent Europe? Well, that moment has come.
Dow Jones just hitting the tape referencing Spiegel
- German Govt: Italy Too Big For EFSF To Save - Spiegel
- German Govt: Doubts Whether Tripling EFSF Would Help It Save Italy
- German Govt: Italy Must Make Savings, Reforms To Exit Crisis - Spiegel
- Italy Debt Guarantee Could Raise Doubts Over Germany's Finances - Spiegel
- German Govt: EFSF Should Only Help Small, Mid-Size Countries - Spiegel
As a reminder, yesterday's stopgap announcement by the ECB to expand its SMP purchases of secondary market Italian and Spanish bonds was merely as a precursor to full EFSF monetization until its comes fully online in September (or sooner) in a vastly expanded format (between €1.5 and €3.5 trillion).
If Germany is now against this, which appears to be the case, it pretty much means, well, game over.
Add the uncerainty over the unwind of the Europe rescue "gamechanger" as one of the more naive CNBC anchors said yesterday, and Monday is now guaranteed to be a bloodbath.
As for those saying China will gladly step in and fund a $5 trillion EFSF shortfall, they may want to read the following article from Reuters:
Italian Economy Minister Giulio Tremonti said on Thursday that Asian investors are reluctant to buy Italian bonds because it sees they are not being bought by the European Central Bank.
Speaking at a news conference, Tremonti also said it would be desirable for the central bank to follow the lead of the Japanese and Swiss central banks in taking expansionary steps to tackly the euro zone's crisis.
"I note that the Bank of Japan today launched quantitative easing and the Swiss cen bank cut rates to zero, we are waiting for decisions if possible, but desirable (from the ECB)," Tremonti said.
When you talk to Asia they say: "We don't understand what Europe is," he continued. "The second point is that they say 'if your central bank doesn't buy your bonds, why should we buy them"?
P.S. Time to unwind that Bund short we suggested yesterday. In fact, if true, it is time for a big rush to safety.
h/t London Dude Trader
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Game over niggas.
There goes my Treasury short.
Ahh, whatever happened to that wonderful Hitler-Mussolini alliance???
You mean the one that's forming?
It was only supposed to last until '49, but Italy backed out in Sep of '43.
Maybe the Germans remember that?
EFSF could be expanded to 2 T EUR or better 4T
EURO must be devaluated, they Need to ask
Bernank on the subject "how to print money"
ECB QE, rates to 0% and print, that should do it.
Where is Stephen Schwarzman by the way ?
Haven't heard of him for quite some time.
Still with his buddy Sarkozy in Paris ?
Ah, Sarkozy:
http://www.youtube.com/watch?v=j0sP8Y3k1QE&feature=related
Hopped on a helicopter with all his gold like all the rest of 'em.
Bullish for freegold, the ultimate recapitalization. 10000 tons of floating price gold on the balance sheet, valuing up.
Green for all Freegold guys. But, what happens on Monday? Hmm, I just don't have any idea.
Longer term (a week or more), yes, very bullish for gold. Yes, all the way to $55k.
The Gold Train is the one that will NOT wreck. There are LOTS of other train wrecks ahead.
Volatility bitchez. Trade smart.
This may not be the place to ask, but doesn't platinum seem under-valued?
i'd stay away if i were you...charts don't look good...plus it's (primarily) an industrial metal...(car emission control, etc.)...macro story not good atm for industrial materials imo
It isn't a pangea accepted medium of currency like AG and AU. yet.
Maybe, maybe not. No one has a crystal ball- and anyone who tells you they do is a liar.
But here's my thinking on Platinum, for what it's worth. Platinum is a useful metal, and can be made to be beautiful when it needs to be. But it's a relative newbie, and does not have the history of the big two (Au and Ag). A similar case for platinum can be made for other useful metals, such as Ti and Cu- essentially, that when people are making goods, these are useful to have.
Silver and gold are somewhat different for the following reasons-
1. Both can be melted and recast with fire. Everything else except for copper, lead and tin require electricity.
2. Both retain beauty in a relatively unaltered state- gold does not tarnish, and silver's tarnish is actually quite nice. Both shine up immediately if you rub them with just about anything.
3. Neither are SHTF industrial metals. Yes, silver can be an industrial metal- but only in a technological culture, and the properties that make it useful (conductivity and malleability) are also shared with gold. It became the industrial use metal because it is more plentiful in the Earth's crust- that could have been inverted easily.
4. History and tradition are not negligable- people reserve the right to discard them in good times, but when the world is burning, nostalgia for better and simpler times is an incredibly powerful force. Ignore them at your peril- the time is coming when a Zippo lighter will be worth more than an iPhone- not because of the labor that went into producing either item, but because of a yearning for better days. Hedge accordingly.
5. This one is for silver only. Silver is anti-bacterial, and that's not nothing.
Platinum will have it's day. But, I don't think it's coming this time around- then again, I could be wrong. What I do know is that gold's day is coming, and silver is pretty likely to tag along for the ride. I can only hope that I can use silver instead of lead, but I have some of each in any case. I like all kinds of metals, myself- they're my livelyhood and constant companions.
Titanium shoots off sparks that look like stardust when you grind or blast it, and it's light as light can be.
Tungsten carbide can cut just about anything, if you apply the pressure in the right direction. If you break it, it can be shattered and removed from a hole with a punch.
Nitinol is an incredibly fun shape-memory alloy (It resumes it's former shape when you heat it.)
Cast iron is solid as the earth herself- and carries it's own lubricant.
Wrought iron only rusts on the surface, but does not rot away.
Aluminum conducts electricity and heat well, and is easy to carry.
Copper keeps the lights on.
Steel is a horse that never tires, and wins in any average use. It's easy to weld, and strong enough for almost anything.
A2 is hard as hell- and you can heat treat it yourself with a torch.
Nickel is cheap and shiny- I'm going to call it the commoner's silver.
Tin is cheap, and can make all kinds of useful cheap things.
Lead makes bullets and ballast- and it's almost gold, but for one proton.
Brass makes casings.
Anyhow, I could go on all day. All the metals have thier charms, but none of them are silver and gold, except for silver and gold. Even copper, which is a distant third, turns a muddy brown in a short period of time.
Au and Ag aren't going to abdicate their thrones anytime soon.
Nice post.
G7 gangsta bankas are coming together to fix the problem before monday. Anybody want to guess on the dollar amount of QH (quantitative heaving) to be released?????
There is saying, Italy is Germany's girlfriend. If Germany says "JUMP!", Italy says "How high" :)
The country is shaped like a boot: it's its geographical destiny to kicketh the can.
Repeat these words after me:
"Deflationary depression, deflationary depression, deflationary depression..."
All you hyper=inflationary guys have small cocks.
Fuck you all.
http://geraldcelente.proboards.com
Make the case, bitch.
I hardly call this
http://mises.org/content/nofed/chart.aspx?series=TMS
an indicator of dollar scarcity.
Shouldnt everyone be buying silver/gold on APMEX on fridays prices.....or am i the only follish one doing this ?
If there is mass bloodshed on monday then pms may get smacked short term. If the worlds central banks release 20 trillion into the system sunday then pms will fly
so its ok to be patient......thanks
You're not the only foolish one doing this; all the people doing this are foolish. wait for the dip.
No, you're not the only foolish one- I spent all my liquidity (cash + bank accounts, no credit cards here) on eBay last Weds and Thurs. Never used Ampex, for the reason indicated on another thread (there's an off-chance a postman might know who they are, and delivery could just not happen- a package from another private party could be anything from a box of lead soldiers to a billet of some oddball alloy.)
It could very easily be the case that I'll kind of, sort of, regret that if the PM prices tank for a couple of days, but with a long-term strategy, it hardly matters.
(edit: I have been buying every two weeks regardless of price as an alternative to contributing to a 401(k)- it's not a short-term trade strategy, and the dips and peaks disappear over time.)
Call Wen Jia-bao. I think he would like a slice of pizza!
coverd my es short from1338.25 on fri coverd my 1320 1315 puts now how can i possably get back in now?
Never be eager; or looking for a chance to take risk. you did well. remember JP Morgan's famous rejoinder, "I sold too early". All successful speculators sell too early. Wait until the hive mind runs too far in one direction then counter punch; waiting is important. Expect a rally soon; wait for the top and short it again.
Equally good advice, if you can time it correctly. Good luck in these markets!
In my very uneducated opinion as a shadetree economist, I think that all of the theory concerning devaluation plan vs strong dollar policy, dollar hegemony waning, euro collapse, etc...became quantifiable, within the last 24 hrs or so. JMO.
We here at ZH can only guess. Many of us have done the best we can in extreme circumstances over the past few years. We might lose, but not as much as others who have failed to heed the warnings. Take solace in the fact that you have done the best you can. Nothing else can be asked of you, not even by the Gods!
But what of those who have scorned us for so long? Who have said we are nuts, or treated us as if we had a contagious disease, or were unpatriotic, or obcessively pessimistic? How do we deal with them now? We don't gloat, of course, but perhaps the best option is simply to leave them forever behind, to get ourselves in a better place eventually, and shield our families as best we can, too.
I am dreaming of Bali. How if the fuck do I get my bullion outside the US, in the safe place? I don't know.
i am wondering the same thing. it seems like the best way will have to be to charter a boat, perhaps. or a cruise line? sure as hell can't fly with it.
I seriously considered bugging out to Canada back in '08, had business contacts/avenues to employment there. But, after much consideration, decided to stay and fight if needed - and the sheep will need us to 'splain things when it all really goes down - their ears will be tuned. I grew up in Boston (a long time ago) and really took our country's founding to heart and had the privelege of living where so much of our history resides and also taking in DC when I was young. I am a patriot and was moved to tears as a child when I witnessed the changing of the guard at Arlington. I had a "don't tread on me" t-shirt in the 70's. I'm not going anywhere - bring it on Fuckers!!
A perfect example of female logic; you made decisions based on "feelings"; and were easily mislead by iconic propaganda scenarios; you fucked up. The facts say, go to Canada. Resistance is futile.
No, dummy. I'm the kid who knew the TV was a big fat lie back when I was 5 in the 60's. Grow some balls. And where are you now? Young people need to hear the truth. They seem really stupid but there are plenty of smart kids that have been getting juked since they can remember. And a lot of them realize it now.
real grown up investors have their silver in a basement vault; "somewhere"; you don't move it. you receive payments from repeated small sales orders over time; this should be obvious. Only an idiot would think that a coin collection was a retirement account.
Bali's too far out of the way. Come to the USVI - I did! US Territory - no US customs; so put your bullion in a container and ship it down! ;)
http://www.stjohnspice.com/spicecam/
"Take solace in the fact that you have done the best you can. Nothing else can be asked of you, not even by the Gods!"
You've obviously never met my boss- his motto is "Every day is a day at Gattica." (Probably not the way he thinks of it, but that doesn't make it any less true.)
Fuck all you Marxist cocksuckers!
Inflation is dead.
Welcome to the new deflationary nightmare.
Eat me!
Deflation will rule...And good luck eating your gold.
http://geraldcelente.proboards.com
if you are correct than most will lose their homes
Hmmm....
Eat my silver, or eat you....
Tough choice, but I think I'll be eating you. Get in my belly, bitch.
I caught MATT DRUDGE red handed!!!!!
the headline on The Drudge today reads "Revenge:Seals who caught Osama killded in Afganistan."
As you hover your mouse over this headline it points to an obscure AP site with an extrememly long ID number because it is specific to YOU and you interact with this article.
As you click on the article you will see a series of funny files load, one that measures your mouse movements , and one called pulse/reading... These programs are designed to read your pulse about the article, if you believe ity or not.
Please try it for yourself and see that this a real time poll being conducted by the gov..
To see if people are still buying this bullshit!!!
Killing the seals is like killing the fire fighters at 911. It helps to get rid of the witnesses.
i fucking knew it. As soon as I heard that a bunch of seals were killed. I said to myself, "They killed the team that killed Osama."
Rather then risk these Seals gettign the real story out to us Americans, they "our gov. masters" wasted them all. Down the memory hole.
Mistake 1, believing the "Seals killed Osama" story. Mistake 2, believing this helicopter story. Don't make mistake 3 by believing ANYTHING these assholes say.
NPR has run this SEAL story 3 times today and each time the reporter emphasized quite loudly that it was not the team that killed OBL.
I felt this was odd untill I read your post here and made the connection that the SEAL team was "hot tubbed"
...Monday is now guaranteed to be a bloodbath.
No kidding. When's the last time Fraud Street opened "Limit Down"?
Hark! Is that a false flag operation I hear rumbling down the tracks?
They have to do SOMETHING to distract the useless eaters.
Let's welcome deflation by listening to music!
Repeat after me:
"Deflation, you are a friend of mine!"
Let's get to the music!
http://geraldcelente.proboards.com
Like sands through the hourglass so are the rumors from eurotardland.
Ok Im officially worried
'bout what?
Make love to your wife/husband, and eat some good polish kielbasa. It'll be ok.
Well yeah, if this is accurate then I am with you.
Frankly I think this is just noise and that the EU will do everything it can to hold on to the status quo. Ultimately it will be a Eurobond and while the German taxpayers may fight it, they'll ultimately swallow the turd just like the mindless, normalcy-biased people in the US do.
We have plenty of pain coming in world markets with the S&P downgrade. They may have pulled out a thread that unravels all of this shit very quickly (your point about non-linear ramifications is spot on). The EU may be a casualty with or without the Germans pulling back from the table.
Are your worries transitory or permanent?
Wow.. at least last week's "bailout" lasted a week or so. At some point the markets are going to completely shrug off EU bailout plans. If this turns out to be the case, it might wind up being the Widowmaker for EUtopia.
I am going to try buying stock in McNeill on Monday:
http://www.k-y.com/?utm_campaign=KY%25202009%2520-%2520%2520Branded%2520...
They are the Biggest seller of KY in the EU.
G7 finance ministers are meeting to discuss coordinated central bank intervention:
http://www.thetrendletter.com/node/827
Put your fireman hats on bitchez...
That ol' cock hound Merkel will cave like she always does. She has no resolve.
Germany will never let them print their way out, they have a long memory.
Hmmm how deep is this hole again some one remind me please??
What are the chances that Europe and the US keep markets closed on Monday while they scramble to come up with solutions that don't include swan dives off tall buildings?
Probability is, say, 25% imho
Then we get screwed by the Asians?
Now zat ze Americans have raised ze debt ceiling, perhaps ve do not need to help our Italian friends like ve said.
While the politicos stand around sucking their thumbs, the money is moving FAST, very FAST.
Any Germans on here? Fist in the air for you all.
My deepest hope is that one day there will be an international forum, where people will converse without politicos acting as intermediaries, realizing there is little need for this giant multinational paradigm of interacting states, and protests will not be limited to countries, but will occur worldwide. That we will halt these bailouts altogether and demand that the banking cartel pay us back every dollar, duetche mark, renimbi, etc. stolen. Within my lifetime.
Rollover, a thriller by Alan J. Pakula from 1981.
"Sell everything and pray."
http://www.youtube.com/watch?v=6butfe1f9Hg&feature=player_embedded
from now on i think its safe to assume that all interventions in equity markets would be shorted
Tyler, when do you get that this "Italy is broke" thing is just a hoax? Or do you know and you´re just a payed shill?
Can you give some evidence that it is a hoax please? We are eager to consider it.
Most of Italy´s debt is held by Italians. And Italians have no private debt problem at all, since they have no housing bubble and Italien banks allways give mortages just with huge down payments (30 -50 %). And Italy has a gold reserve of almost 2500 tons. And Italy has a quite productive industry with high quality products which are competive on the world markets.
Italy has too much debt, no doubt about that. But they are no way near a default. All this talking about an Italian default is made up by banksters and hedge fond managers who were beting everything and the farm that the Euro will crash. They are losing, soon we´ll see EURO/Dollar at 2,00 and more.
Most of Italy´s debt is held by Italians. And Italians have no private debt problem at all, since they have no housing bubble and Italien banks allways give mortages just with huge down payments (30 -50 %). And Italy has a gold reserve of almost 2500 tons. And Italy has a quite productive industry with high quality products which are competive on the world markets.
Italy has too much debt, no doubt about that. But they are no way near a default. All this talking about an Italian default is made up by banksters and hedge fond managers who were beting everything and the farm that the Euro will crash. They are losing, soon we´ll see EURO/Dollar at 2,00 and more.
Why do I not see the "Next Page" button any more, Tyler?
So Germany = Coal Mine Canary?
Yes, Sir.
UNDER THE RADAR:
Huge Protesting in Israel!!!
http://www.ynetnews.com/articles/0,7340,L-4105195,00.html
Massive Worker's Rights Poster in Tel Aviv:
http://twitpic.com/620p3k
Tel Aviv Stock Exchange is open today:
http://www.tase.co.il/TASEEng/homepage.htm
(Yes, it's down...)
Germany said hey italy, you want to see something really cool, lol...
http://www.youtube.com/watch?v=j9h71R0P-jM
.
Germany is not gonna pull the wagon by themselves. France is not looking so good, either. Reggie Middleton says there is a big French Bank time bomb waiting to go off in the form of a meltdown. This should be the end of the EU. I hope they have the grace to go quietly from here on out.
If anybody ever says we need an world bank and world government to enforce things, please tell them to STFU. If the EU can't work, then a world bank and world government can't work. Nation states are fine. The meglomaniac bankers need to shoot themselves and spare humanity.
Panzer march..... next stop Paris via Rome ..........
.....
safety? Where is that
We've now degenerated from "too big to fail" to "too big to bail". But who's going to bail out Uncle Sam? Oh, that's right. GLOBAL government!
Don't be surprised if the US is forced to step in a bail out Italy and the rest of Europe. Just ten more nails in the American coffin.
USA -- RIP!
Don't be surprised if the US is forced to step in a bail out Italy and the rest of Europe.
We've been bailing them out since 2008.
Since 2008!!! How about all the as yet unrepaid war debts from WW2 plus the gazillions in foreign aid we've lavished on them for the past 60 years?! We should call it "even" and screw 'em ALL! Notice how the little bastards pile on the second they think we're weak....
The time has come and i had hope's that it wouldn't come! TWO words to live by in the coming weeks!! FOOD & AMMO!! GTF out of the Citys NOW!
The "ANT colony" goes long FINITE!~ plus 4.75%
The latest stats from Germany show their export market is already going kaput. They have nothing to lose by not going all in for the EU.
70 per cent chance that this is it.
I fail to see the "bad" in this whatsoever. In fact, this is wonderful news!
Seems as if there's no insanity in Berlin after all!
I decided that after the Greek bailout, Germany would be the first one to quit the EU.
Picking up the lunch tab is coming to an end.
"this side towards enemy"---do not kick this can.
And for your backburner entertainment we have Greece, Spain, Portugal and ireland realizing that they are $#Q%Q$%^Q#$^ They will be prepared for winter like good ants because they know the euro is just so much fire starter now, and they have to make new deals or the people are going to find a use for all the fancy statuary and martial memorial hardware to suspsend the nice government folks upside down as though flying.
So what direction does everyone think gold and silver will go next. Finally liqidated retirement accounts to add to my stack and go all in. Contemplating either buy now while silver is down a bit or wait for the fall out to see what happens. Can't believe the shit storm happens as I'm waiting for the funds to be deposited.
When your borrowing forty cents for every dollar spent. Things do tend to implode.
Matrix is a system
http://www.youtube.com/watch?v=MXQozTxQSiE
Hum... What TPTB do in these times? Well, as usual start a false flag attack, that's always the "remedy."
Look forward to news in the Fall about movement towards Iran. When you thought it couldn't get any worse...
Been oh so waiting for a limit-down Monday....:)))
Cocksucking bankstas!
My position?
Fuck gold. Fuck silver. Fuck the dollar. And fuck the global government.
Tune in. Turn on. And drop out.
Fuck the gangsters in their asses.
http://geraldcelente.proboards.com
The Germans will have a hard time engineering their way around this one. The japanese economy has fizzled for the past 10 years, but it didn't explode because they had their citizens buying their bonds. How will the German people feel abouit buying the bulk of the EU debt? The world is going from a japanese electronic fizzle to an engineered German pop, and eventually to a US financial explosion.
I like the rumor of the Big5 holding almost 1000 trillion in bad debt derivatives. Wow. Really? These is the biggest example of where unchecked greed can go in the history of the planet by far. There wouldn't even be anything worth discussing if it's true except who to hang first.
Or maybe they recognize that the ultimate fan has been hit, and so the winner is...(hint - he with the least debt and the most gold).
German Govt: EFSF Should Only Help Small, Mid-Size Countries - Spiegel
ja, die low countries und der sudetanland, und der baltic, ja, und austria hungary,
sorry, we here at Der Spiegel apologize for the bloodlust.
LOL, my greedy little ass lied to my friend as im holding 10 call contracts on short etfs. Told him I was neutral over the wknd. I was sure I was going to get smoked and didn't want to lead him with me. Never know, we'll see.
We're so sorry, Uncle Albert!
We're so sorry if we caused you any pain.
Fuck it all in the ass.
Tune in, turn on, and drop out.
Fuck the system.
http://geraldcelente.proboards.com
August 7, 2011
"The European Central Bank, however, agreed to start buying Italian bonds from tomorrow in return for a promise to accelerate deficit cuts, said Italy's Federalism and Reforms Minister, Umberto Bossi. ''Everyone is afraid our bonds will turn into scrap paper but, by returning to budget balance one year early, the ECB has guaranteed that from Monday it will buy our bonds,'' he said. The US President, Barack Obama, has discussed the crisis with Mr Sarkozy and the German Chancellor, Angela Merkel, in separate calls. The EU's economic affairs commissioner, Olli Rehn, announced he would propose new common ''EURO-BONDS'' next month. Until now taboo, these would allow eurozone governments to raise funds based on guarantees from the entire 17-country bloc."
http://www.smh.com.au/business/europes-leaders-escalate-crisis-talks-as-...
That I was talking about couple of days ago.. EURO BOND which will keep borrowing costs at minimum..
The only problem is that they are self-admitted liars.
All of them.
Oh my, and i was about to propose some bets, e.g. how many times France will be downgraded until yearend (twice), and Germany (once)
Fran ce? The liquidity provider for the [E.C.B.} ?
France is the CLUB med , tool of last resort!
ESF is running dry. Poor Timmah and the rest of the globalist. More propaganda and terrorist plots to write new laws to protect a selected few. LOL
http://www.youtube.com/user/cedec0#p/a/u/1/iK-741ISz94
deleted
Good choice to delete. Two weeks and four days.
mmmm...mmmm... Long leged chinee girls...!!!
One way out...all debt=0 AND let Chips fall where they may.
hold on a second, let me get into a huge house up here that i can't afford on my slave salary before we all get jubilee. otherwise, i'm gonna be mighty pissed at my neighbors that did.
Basel III will fuck with the derivatives market. Watch the drama unfold.
When is Basel III supposed to be enforced? 2015... 2017... 2019 even?
And yeah since it would force the derivatives onto the banks balance sheets, it would indeed bankrupt them all.
>>German Govt: EFSF Should Only Help Small, Mid-Size Countries - Spiegel
Dear Spiegel,
Germany is a mid size country.
Signed,
China, USA, Russia, Indonesia, Canada, Brazil, India
Good news, at least those aren't lining up for a bailout yet...
Yes, cause it's still US FED, not some Barbados
or Greece.. Military power of the USA is out of the
question,
if some cool brain power could be added to that,
then everything is possible.
Did I say Tea Party m* f88ers responsible for Debt
ceiling procedure mess? And S&P especially point to
that, saying that it was one of the reasons for downgrade. Just trying to figure out what their prime interest? Overplay Obama and then what? What they gonna do? They spend trillions on wars and will continue to
fund Pentagon wasteland.
Do you realize how bullishly long stock holders have gotten and still are? The blogosphere is filled with shocked disbelievers with sweaty palms this weekend.
It's a crowded theater waiting for someone to yell "Fire".
It's a Market, you can always short too..
I do have long and short positions, but shorting was
not much easier with such volatility, very hard
to make money on any side and that's the point.
If you didn't take short position 1 month ago, right
now you will have very slim chance to make money, shorting the current drop and more likely you going
to lose at the end. It's up too you of course.
No offence, I want you to long on monday. Put all your money into this market. Talk with me on Tuesday. Sometimes, everyone needs to??
Thats not a tornado you hear in the distance, thats a ton of shit about to hit the fan.
Only advice I can give tonight, stay clear of all fans. The shit is about to hit. lol
http://www.youtube.com/watch?v=8rrG1VRfIKs&playnext=1&list=PL90EF4246EEE...
RIP WILLIAM COOPER
Probably unique in economic history, but doubt anything of this kind deserves the moniker "economic"
"When you talk to Asia they say: "We don't understand what Europe is," he continued. "The second point is that they say 'if your central bank doesn't buy your bonds, why should we buy them"?
"Debase faster will ya, we don't give a fuck about real returns"
In Romania they have a saying, "This is the Life"
http://www.youtube.com/watch?v=mjuA03FlXiU
I think that sums up my feelings towards the gov't, Wall Street, and all the rest right now nicely.
(No, I don't have any idea what the lyrics are about- it's all about the sound of it.)
http://www.youtube.com/watch?v=8rrG1VRfIKs&playnext=1&list=PL90EF4246EEE...
RIP BILL COOPER
Big problem for the market: The Bernanke Put is now officially in doubt. The downgrade and demands for austerity make it harder to engineer a market rescue in case of a crash. We're already at zero rates and QE's credibility is in the toilet after 2.5 attempts. The Fed looked out of bullets after the GDP downgrades and that was before the Treasury was out of bullets thanks to the debt downgrade. And the Fed has other headaches now: capping rates after a downgrade will chase capital away. The Fed will also have less debt to monetize going forward because of austerity. And Euro banks are still an issue since they threaten US banks.
I think the top is in. And so do many others.
I hearby officially declare the top is in.........for anyones lifetime on our board here.
I'd also like to bring to everyones attention the big red bar at the top of the GLD chart.
now get ready for a rating agency take a swipe at china's local goverment debt.
Paging Mrs Lagarde.....Mrs. Lagarde, you have a call on line 1.
And just when you thought nothing else could happen:
http://www.newsmeat.com/news/meat.php?articleId=107433655&channelId=2951&buyerId=newsmeatcom&buid=3281
Germany is going to bail out who?
tyler, were starving here!!!!! no posts from you all day---trailing one of the most important moments in monetary history!!!!! wake up--take a cold shower--triple shot of espresso!!!!! 2 hours of sleep is enough--you can doze when the world breaks down and internet goes dead--for now you have a responsiblity to us!!!!!
tyler, were starving here!!!!! no posts from you all day---trailing one of the most important moments in monetary history!!!!! wake up--take a cold shower--triple shot of espresso!!!!! 2 hours of sleep is enough--you can doze when the world breaks down and internet goes dead--for now you have a responsiblity to us!!!!!
We need him fresh for Sunday night, let em sleep.
depends if he's sleeping with a honey bun or a cougar. If its a cougar he'll be even more tired.
Kito, Hope you're tongue-in-cheek here.
Tyler's the f'ing man, and if he needs a day off, let him take it. Hell, if I knew who or where he/they is/are, I'd be loading up the van with camping gear, PMs, food and ammo to guard his house just so he could take a nap.
Cheers, Tyler.
This is all, and has always been about America and China, and the amount of US debt china holds. There is something about the timing of the US downgrade which happens to coincide with Italy tanking. The downgrade is by only one of the 3 main US ratings agencies so shouldn't, but arguably could, adversly affect US bond rates. Could it be that the main reason for the downgrade is to convince Germany that bailing out Italy would mean that they would be subject to a severe downgrade. China has been trying to diversify it's dollars into euros by implicit guarantees of euro zone debt - buying euro bonds with dollars. Maybe I am talking out of my arse, but is this the biggest poker game of all time? and have the German's just blinked - sorry to mix metaphors. Is this the destruction of the Euro so that the Chinese have no way of getting out of the game?
If the ratings agencies were doing their job properly over the last 5-10 years wouldn't all the major economies have been downgraded years ago? So why THIS weekend?
Blinking can be a "tell", that's why so many poker players wear dark glasses. Staring down the opponent is sometimes preferable, though.
Those ?DOG/GONE North Koreans? Web sights are all ( ALGO'S these DAYS)
Get out of money market accounts now!!! Read the last sentence:
http://blogs.forbes.com/kenrapoza/2011/08/06/after-us-downgrade-this-cou...
Btw im drunk as skunk right now and my investin or interpretation may be affected as so.
Are the Germans serious? I mean, you know the Germans...they have such a clever sense of humor. Maybe they are just teasing?
BREAKING NEWS: Obama issues response to S&P down grade....."I have issued an order for the immediate arrest of Miss A, formerly of the Letter People, who has been AWOL since this Friday....I am certain Miss A will do whats right and resume her role in our much deserved AAA credit rating...also, Mizz A from France better not get any ideas".....
Who asked are the germans serious? Well of course the general population is, but they don't count. Just like the US. Only those dressed in fancy clothes with huge bank accounts make a difference. Duh. And you expected?
There will be no QE3! Gold is going to make a kneejerk action pretty soon. Good luck with your PM's :-)
Just watch and learn.
Some day will be af unctioning website! The constant shutdowns ar etting old. I likeanswering MATH! TOOLS sgould be excluded