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It's Baaack: FT Deutschland Pronounces Deutsche Mark's Return, Prices Itself At 4.11 DM
Curious what the talking heads will be discussing all weekend parallel to the joke that is the European Summit #1, not to be confused with summit #666? Here is the answer, courtesy of the FT Deutschland, where not too subtly, right next to a lede saying "the Euro rescue has turned into a farce", the publication has for the first time, set its price not in zEURo.qq but in Paul Tudor Jones' favorite currency: the Deutsche Mark, or 4.11 DM to be precise. And courtesy of the FTD, we now know the When Issued exchange rate for the EURDEM is: 1.95, the same as was locked at the EUR inception. Said otherwise, stick a fork in the euro, it's done.
h/t Peter
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I don't know, whether to laugh or to cry?! You tell me...
too much to hope for.
They will go back to the Mark, but not yet. First Greece will default and send the Euro soaring.
Without Germany the Euro common currency is dead.
No doubt.
Also applies with Germany it'll just take longer.
they can grow their own food and build their own machines. Longer as in 1 year or a few centuries?
'Longer as in 1 year or a few centuries?'
Firstly, the people of Europe won't last another century let alone the Euro. Second, the EFSF is a joke and monetization as a last option goes back to my point. No exit.
just peg the DM to the Yaun!
Brilliant idea! DM competing currency in Germany, pegged to Yuan for stability. German people are happy, Eurozone happy(?), China pissed. It'd be just too much! lol
Automatic translation is: http://translate.google.com/translate?sl=de&tl=en&js=n&prev=_t&hl=de&ie=...
The article is pro-EUR, as FT Deutschland has always been, and contradicts with the DEM price label.
deleted
I translated the article and the title says "No going back to the Dmark..." what am I missing.
I translate it as 'There is no back'. So now whats THAT mean?
"There is no return to the Deutschmark", see my link to the automatic translation above.
No, thats not what it says. It says 'There is no back', and my German translator wife says that means to us 'There is no backing'....what does that mean further? I dont know.
I am native German. "Es gibt kein Zurück zur D-Mark!" (see first article at http://www.ftd.de/ ) means "There is no return to the DEM!".
P.S: The DEM pricing on the printed edition could be a joke of the printing plant...
@P.S
right! exactly my thought ... its either a printing plan employee, fat finger, some low gov official, or rogue government trader to blame for everything ...
@P.S
right! exactly my thought ... its either a printing plan employee, fat finger, some low gov official, or rogue government trader to blame for everything ...
I hope they've got such a good sense of humor, but that looks more like editorial puckishness to me.
das ist richtig, "KEIN" Zurück- NO return
Think of the "Zurueck zur D-Mark" phrase as an object, then There is no 'back to the D-Mark' makes perfect sense.
I, for one, am laying in a good stock of popcorn in anticipation of the fun when the D-Mark returns: Deutschland erwache, and all that.
'Tis only a matter of time before the German taxpayers refuse to subsidize the profligate Mediterranean countries and the French.
"what am I missing."
The huge rally in equities!
That, and Groupon's IPO... GROUPON'S IPO!!!
Amazing! Agree Lennon, then the high recessionary value of the Euro wouldn't make a difference.
Love ZH, but I think Tyler just pulled a Drudge on us (intentionally or unintentionally, I'm not sure)
There once was an upstart the Eur-o
Whose track-record was exceedingly poor-o,
When the Deutsch Mark came back
If my math is on track
For two Kraut Notes you got almost four-o.
This morning news in German TV.
There was a video conference a few days ago with Merkel, Obama and his serf Sarkozy. Trying to bring Merkel in line by all means.
France wants money printing by the ECB. This was the blunt demand from Lagarde and Sarkozy, while Germany is resisting. France wants to install a SPV by ECB with a banking licence and with unlimited capital backing from the ECB. This was the resukt of the talks in Frankfurt on the officail farewell meeting of Trichet.
Yesterday evening Merkel wanted to give a press conference. Her car stopped 100 meters away from the conference building. She sat there on the phone for one hour. Then the car turned and the press conference was cancelled.
This morning very early at 7 am which is very unusal Merkel had already a party meeting in Berlin with the top people of the CDU fraction. I think other parties are doing the same.
Its blackmailing time now, thats my impression.
The CIA agent Sarkozy briefed and backed by Washington is now taking final action. There are not many possibilities left.
1) The French accept that the printing press is not started and accept to bake much smaller breads in the future But this is not probable because its not France what is at the bargaining table its the US through their agent Sarkozy. And the US have a firm plan to kill the Euros status as a stable currency.
2) Germany accepts the US demands. Thats at least now not possible because Merkel has no mandate to do so. This would need a alteration of the German constitution and and alteration of ECB statuites. So this can not happen now and will most probabaly not happen in the future.
My thoughts:
The US knows, that Germany can not accept their (Sarkozys) plan. So Sarkozy is going to proclaim that he has to act on Frances interest first and that is to prevent the economoc catastrophy for France.
The only thing he can do, is to threaten that France is leaving the Euro. Sarkozy can do this if he wants by decree becasue the French president has more or less uncontrolled power. In that respect he is even in a better position than the US president.
So this is now the final action of this CIA coup. France is threatening to leave the Euro in order to weaken or even kill the Euro. Hoping that the fear will drive the Germans to accept the "printing press solution"
Great Plan, Well executed. Only the results will not help anybody, except the Washington establishemnt and Wall Street.
Angela dragonkiller go.
France's threat potential is illusionary. If they depart, the EUR falls, and it will be crushed between a productive Northern Alliance and the depreciating Soutern economies. I was really wondering why Obama was involved the past day or two. My guess would be, the wanted to get him prepared for a definite no and the evolving consequences.
Merkel and the Germans need to hang tough against Sarkozy the CIA stooge and Obama. Obama and his whole clan were CIA cutouts. The mother and grand parents. Yeah right - hayseeds from Kansas going to work at Bank of Hawaii. Obama's mother and Geithner's father worked for the lefty arm of the CIA overseas aka The Ford Foundation.
As Arnold Schwarzenegger said, Ich werde zuruck komen! (I'll be back)
in the article they dont pronounce it's return, they say it would be a catastrophe to return:
Die Alternative aber, nichts zu tun oder gar die D-Mark wieder einzuführen, wäre für Deutschland die eigentlich große Katastrophe.
Economic/currency war is hell, bitchez.
Your intepretation makes no sense reading the article. This is the conclusion:
"Wieder einmal hat Europa keine Zeit zu verlieren. Wieder einmal also ein neues Rettungspaket mit Hilfsmilliarden? Nein. Am Wochenende muss endlich die große Lösung her, der große Wurf gewagt werden."
"Again Europe has no time time to loss. Again then another rescue package with billions for help? No. This weekend we finally have to see the big solution, the big toss should be risked "
'The big toss' yep.
watch, after the european markets close today, france will be downgraded! this is the last sucker rally! then, BOOOOOOOM!!!!!
Red the article in FT Deutschland:
"There is NO turning back to the D-Mark! Germany, according to their lower house, Bundestag, did not aprove more then 200 Billion Euro for the EFSF! France wants to use EFSF as a bank which the Germans reject because it would break laws in effect!"
So there you have it, THEY GO TNOTHING!!
My 2C:
GO SHORT EVERYTHING!!!
I awoke with my balls clacking gently together while my taint tingled. I called Charlie and said "Man the phones, they are just about out of hope and will be calling soon." It is a signal that senses rats scratching at the hold of a financial sinking ship, trapped and calling to anyone for a way out. It has been that way since I can remember and it means there is money to be made. - Uncle Warrens' Journal Friday, October 21, 2011
taint... too funny... we call it a sandbar.
Taint yer balls, taint yer ass.
Meh, it's just one more bit of mis-direction leaked to the media in order to further confuse those trying to keep one step ahead of the Euro nonsence... probably just a head fake while they keep steppin' on their fooking cranks.
D-Mark: Don't call it a COMEBACK, I've been here for years
The return of the Weimar Republic to show us how it's properly done.
I'll believe it when there's an ETF.;)
There actually was a 1000 DM banknote around before the euro. That saves lots of ink and paper when it comes to printing...Germans always had figured it all out.
Well, this shits gonna get real now.
Germany, short term pain, long term gain, Euroland will implode under the weight of their own debt. Germany is the strongest in the Zero Zone and they have to protect their own soverign interest. The Magazine is priced in Deutschmarks so No more shell games.
Germany may suffer for a while if returning to the D-Mark, sure, their exports would take a hit but not for long, lets face it, their products are just MADE IN GERMANY!
Watch the weekend for human or just political casulaties in Europe. All that lobbying should have been worth something in the end.
These EU officials have begun to bury their own graves with this bailout-- no amount of financial engineering is going to help them.
My take is this newspaper is critical of the euro. The pricing of the paper in DM is only an exclamation of the point. I can't read German though...
So, 4.11 Deutsche Mark is just the price tag or is it the date for the reemergence of the Deutsche Mark. Nice coincidence, it is November 4, which marks the last day of the Cannes G-20 summit.
FTD is just doing the TBTF speach - we need a BIIIIIIIG bag of new Euros...nothing more. Funny though that the readers of FTD say yes to a return to the D-mark. Yes = 53%, No = 34%, Yes, but then what = 13%.
Killing the DM was the price Germany had to pay to get France to agree to the unification. Little known, and hardly discussed, fact. That they continue to let France poke them in the pooper will be downfall as Germany will in the end pay for the rest of Europe's failures.
Put as much faith in this as the Guardian's Pro-Euro rantings
I would count on some other solvent, Northern EUR countries joining the new Deutsche Mark, though. The appreciation potential of a natural Deutsche Mark would just be killing the economy, especially with the unwinding consequences in the South. Expect the Netherlands, Luxemburg, Finland and possibly Belgium to join. But this time, it will be a joining under the head of the Bundebank instead of a grouping to form something artificial without executive power, I guess that idea obviously failed. The agenda would subsequently reach East for further additions to lower the appreciation tendencies extend the covered market.
And after that you'll see brownshirts directing traffic and shooting at undesirables. Monetary union, political union, national sovereignty dissolution in favor of a powerful Daddy etc. etc. etc. History repeating?
Historically, the probability of emerging fascism is much greater in case of massive printing with a following hyperinflation. An economic grouping of solvent, firm democracies is not really doomed for fascism. Or have you ever seen 'brownshirts' patrolling the streets of Mexico City or any other country accepting the executive power of the USD for their currency. I have not seen any.
Just wait 'til OPEC prices its crude in Yen or Sterling...
Or in Belarusian rubles: http://www.onvista.de/devisen/snapshot.html?ID_CURRENCY_FROM=USD&ID_CURR...
The y-axis denotes BYR, not USD, of course.
Gonzalo Lira says Germany can and will never leave the euro.
http://gonzalolira.blogspot.com/2011/10/germany-will-never-leave.html
Can. Yes.
So he's saying they won't leave the euro zone because they are a creditor nation without any sort of mechanism for forcing repayment. So all the eurozone has to do is borrow from it and have portual ireland and greece constantly vote no for let's kill portuagal ireland and greece.
Germany has no interest in going back to the DM. Imagine how expensive it would be for their exporters as everybdoy would be piling into the DM. They're in the Euro for the long haul wherever it leads.
The headline in the article actually says that there is no way back to the D-Mark.
Alone, agreed, but with other solvent countries... Also, we have seen other very productive export nations conduct export outside their currency. Lastly, German gold reserves have built up in the 70s and 80s as a means to balance surplusses and deficits with importing nations. Why would that not happen again, just so it would not have to trade in USD and hold US treasuries as reserve.
It's most certainly just a marketing thing. And a good one at that.
Finally some GOOD news,
Is this why the Dow is up over 200 points allready today.?
The article is just more Europropaganda, as we have learned to expect from the German system-media (government-sanctioned lie factories).
FTD, FAZ, Handelsblatt, Die Zeit, and Süddeutsche have an unrelenting, long-term campaign to sell EU ideological BS to the professional classes. Mercifully, their collapsing circulation indicates that their shtick is nearly up.
Hello, DAX 2000. I sense a Night of the Long Knives coming to a CDU Parteitag soon, and Merkel will be the guest of honor.
Absolutely agree. Watch for those with US/german think tank ties to come forward. Atlantikbruecke and other have made sure, the political establishment will be in line, when it comes to it. I am just not so sure, if those ties are strong enough facing an overwhelming German public in denial of the EUR and pro-Euro politics. I would count on von der Leyen with her post WWII political aristocracy background to step forward, even though Merkel is managing her as one of the two crown princes/ses.
In which direction does the Euro toilet drain when flushed? Clockwise or counter-clockwise?
In respect to Natures direction, storms included, the direction is counter clockwise, so it will flush clockwise. It's called the "Coriolis effect" More useless info from my brain.
Whichever way it feels like.
The whole drain 'direction' thing has always been an 'old-wives-tale'/urban-legend.
I'm confused. I thought this was sarcastic humor, but I've never known a German with a sense of humor. Does FTD have a foreign editor?
If Germany isn't going to associate Gold with it's new/old currency than Germany may as well return to the Papiermark( paper mark). Worthless toilet paper.
article just got a mention on cnbs btw
I really like Rick Santilli.. and that's about it.
So this is why BAC et al dumped all those trillions of derivatives on the fed. lol.
Tyler....Got me! Spewed coffee and and an expletive, at the caption!
Deutschland uber Alice.
FTimes and the Death of the zEuro
Anything to make the British pound look less like a dog turd by comparison...
FT HQ located in the heart of the bankster Vatican... aka City of London...
All you need to know about FT's rumor as real news policies...
FTD is only licensed, though. To my knowledge, the editorial ties with the British mothership are close to non-existant.
Yup, but then what happens?
Does good money (the DM) get hoarded as it is chased out by the bad (the euro)?
The DM climbs against the euro making German exports increasingly expensive.
German experiences slower growth allowing the PIGS to work out the trade imbalance to a degree.
Non-German bonds start to look more attractive. Debt blowup may be delayed to that degree.
Would Milton Friedman be proud?
GeldMark shall rise again!
Backed by gold, silver, platinum and a basket of sound hard assets ....very likely....very soon.
Other option is to settle all accounts in the soon-to-be global Yuan RMB which will most likely also be backed by that Barbaric yellow metal that the PRC keeps telling its Hoi Poloi to buy.
Bring on the pan-asian gold exchange!!! I find myself hoping it causes serious ripples in the financial world, but I have my doubts that the chinese are not as interested in manipulation as the west is...
For the price of the magazine to have doubled in 11 years implies an inflation rate of about 7 percent p.a.!!! Compare this to the bogus 'official' print of maybe 2.5....
One BIG con game, there and here.