- advertisements -
We need more cowbell (free money) all around. Brief appearance of truth and logic are causing gears to stick...more lubrication needed.
BTW - curious the backup in the US long bonds yields...Twisting to higher yields?
Happy Euro bankers buying commodities already
good for another 2% melt up tomorrow
Fade all news.
Why do all the posturing and theater if you're not going to hold Greece to teh previous targets? I say fuck it and let them go bankrupt. Same for the rest of them.
Because, posturing and theater is all that there is. Bankruptcy will not be allowed, as there will be ho clean slates, but instead debt slaves.
Maybe because the charletanism that is neoclassical economics cannot contemplate fraud and gaming witout breaking the framework? The Greeks can, Oh Yes - they are going to be all over this show of weakness, they will be bilking it for everything it is worth, and more.
As they well should, because we know that only after every option and evasion has run out, the correct action will be taken: Banks will be killed, the survivors regulated.
"How long are countries going to let IMF control their money so whimsically?"
Until the cost of production of "money" exceeds the cost of the bailouts. It's the free market at work.
if this was the Titanic the passengers would have died of starvation or old age before they drowned
"Saigon. Shit. And everyday...Charlie's in the jungle. Gettin' STRONGER."
oh happy day. I guess this means it's time to go John Holmes balls deep long?
Hmm - This market doesn't looks as good as Seka!
in unrelated pricing newz: corn is up 6% on the day; soybeans, 5%; wheat only 3%
coffee is down 15%, and 20% on the week.
we cut tyler off coffee and the fuking market crashed, BiCheZ!
Italy actually voted down the 2010 budget, which is hysterical, because it is simply a record of what was spent and received, it is facts and can't be changed, and yet they voted it down haha.
Italians invented accounting - you can bet it can be changed, and it was, which is why the Italian parliamentarians don't want any part of it (Well, the ones that did not get a cut, anyway)
Slovakains are smarter then you think.
Where did you say Slovakia is? Is it a country now?
U.S. Americans don't have maps, and such as therefore I believe that South Americans the Iraq blah blah..."
S&P clearly setting up to downgrade Spain. It has dg'd some of the autonomous communities recently, some of the "stronger" cajas and has the sovereign rating on watch neg since april. Spain is a big contributor to the "bail out machinery" which is supposed to bail out Spain itself, just like Italy. The circular nature of the ridiculous "perception management monster CDO" is so obvious that i don't know whether to laugh or cry watching the "investors" and bankers pricing the bonds issued so far, esp when there's shitload of bonds to be issued in the future. I have only one thing to say to the eurofanatics in charge of the Titanic: FUBAR!!!
10-11 13:06: S&P says Spain's economy growth prospects are increasingly...
10-11 13:06: S&P downgrades Banco de Sabadell to A- from A; Outlook negative
10-11 13:06: Banco Popolar Espanol on watch negative by S&P
10-11 13:39: Spain won't create net employment in Q4 according to a minister
10-11 14:45: Banco Popular Espanol cut to BBB+ from A- by Fitch
10-11 14:45: Fitch cuts Banco Santander long-term issuer default rating to AA-...
Did anyone notice this ECB announcement I just read on a German news channel? "Extraordinarily voluminous Gold sale by a central bank of the Euro zone". Greece? Portugal? Belgium?
dont fight it just buy euro and the market, no point in being negative
Debt = Profit (from the cartoon movie "The American Dream")
Banks (including the European Central Bank) is stuck with that ideology, even if it drives them and everyone around them off a cliff!
Central Banks will NEVER say no to lending more to Greece or anyone else because their casino is rigged... until things get unhinged.
So whats the point of the article and graph, that nothing much happened at all?
Point of graph: does not matter what happens from here on out. Markets will melt up.
Move along, nothing to see here...
The IMF and World Bank are basically ways to bail out bankers after their loans go bad. Banding a bunch of countries together and spewing a lot of high-minded talk about "promoting international development" helps to disguise their true function.
Bankers make risky loans to countries at relatively high interest rates, then book big profits and pay themselves huge bonuses until the debtor countries are unable to make the interest payments. Then the IMF comes in and bails out the bankers out while forcing draconian austerity measures on the victim countries.
The IMF and World Bank are just one of the methods that bankers use to milk the taxpayers. If the taxpayers of the US had any sense, they would demand that we withdraw from both organizations.
Next years running of the bulls will be replaced by grizzly bears imported from alaska in order to discourage short selling and to instill fear in the angry youth before they implement austerity measures.
The IMF...talk of the IMF riding to the resuue with bags filled with SDR's may play in the US/UK led WestBloc nations, but the EastBloc isn't falling for it. No coincidenc that an SDR is comprised of the USD, YEN, EURO, BritPound, the same 4 doing all the high-speed non-stop Printing and Digital Money out of thin air.
<<< The SDR is based on a basket of international currencies comprising the U.S. dollar, Japanese yen, euro and pound sterling. It is not a currency, nor a claim on the IMF, but is potentially a claim on freely usable currencies of IMF members. The value of the SDR is not directly determined by supply and demand in the market, but is set daily by the IMF on the basis of market exchange rates between the currencies included in the SDR basket.>>>
............In other words, Europe under the EU and Jean-Claude Trichet is a return to the most extreme form of feudalism in which a handful of rich are pampered at the expense of everyone else.
This is what economic policy in the West has become--a tool of the wealthy used to enrich themselves by spreading poverty among the rest of the population.
On September 21 the Federal Reserve announced a modified QE 3.
and I might as well toss this one in too, just some of the various types of QE, some under an alias, and just those acknowledged, basically Monopoy Money
8:39PM BST 06 Oct 2011
The Bank of England has done more QE, implying that it thinks the banking sector may be about to collapse, inducing money stock contraction.
If the banks do fail this time, there is (mercifully) virtually no chance of the Government recapitalizing them yet again (on top of the bail-outs of 2008, 2009, and the four, 4, "sovereign debt" bailouts of 2010 and 2011).
[ QE/3 under an Alias ]
The US form has come to be called "credit easing", because its function was to intervene in specific credit markets – believed to be causing blockages in the monetary transmission mechanism arising from market failures – and reduce interest rates.
Credit easing was regarded as a failure in the US. So the "QE2" programme switched instead to the buying of government bonds, just like British QE.
When this ends, it will truly end badly for everybody. I really can't wait for the system to go down.
There we go guys! As I said before: Look for a Bear market! That honeys good, bears all the way biatchess.
Wat tiz deec teen: "Real Losses"?
Tips: tips [ at ] zerohedge.com
General: info [ at ] zerohedge.com
Legal: legal [ at ] zerohedge.com
Advertising: ads [ at ] zerohedge.com
Abuse/Complaints: abuse [ at ] zerohedge.com
Advertise With Us
Make sure to read our "How To [Read/Tip Off] Zero Hedge Without Attracting The Interest Of [Human Resources/The Treasury/Black Helicopters]" Guide
How to report offensive comments
Notice on Racial Discrimination.