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Juncker Buries Hopes Of An "Imminent" Greek Deal, EURUSD Sliding
And the boot in the Greek face comes from Jean-Claude Juncker who obviously has his marching orders from Die Frau:
- Juncker: I did not yet receive the required political assurances from" Greek coalition party leaders "on the implementation of the program - DJ
And to think if only Samaras had kept his mouth shut...
EURUSD sliding on the by now so very, very, very painfully obvious outcome of a Greek default. In other news, only 200 pips more lower until Stolper is stopped out. Again. We, for one, dread the day when we will no longer be able to fade the Goldman's head FX tactician's calls...
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Nothing real painful on my charts, yet. We are all greek now. My puts are looking good, with the exception of oil trades, still holding.
Wake me if the DOW goes below 12000. I still think the real spike int he VIX will come in mid-March, then it will be time to either get out, get more physical (across several assets) or some level of both. EUR/USD will correct overnight.
this world is a strange place, anything can happen, the more hypnotized the crowd with the fed's magic, the higher the chance that the end for it is near:)
Im not normally prone to fits of rage, but seriously, how in the BLUE FUCK is this market not off more than 0.5%?? I mean apart from the promise of more easing there is not a decent piece of good news in sight. Europe screwed, retail screwed, confidence screwed, Greece screwed, auto sales screwed, EVERYTHING screwed.
And yet we are still faced with seller fatigue. For fucks sake, grow a fucking spine and stop buying every -.10% level! Honestly, I am aware of career risk but the writing on the wall has never been clearer and anyone caught long and wrong if we ever manage to trade down will be lucky if they arent found, thanks to retrospectively enacted politically convenient legislation, personally and criminally liable for their losses. How the fuck is anyone still buying stocks, if not on the macro then even on the short term overextension...
But surely you must understand . . .
it's all priced in.
They are doing everything they can to keep the stock market positive in the US even with bad news. Just how they said they had it covered with Lehman Brothers they will have it when Greece defaults. They have no clue to the dominoes that are about to fall when Greece defaults. It doesn't take the 14.5 billion dollar in bonds out, but all the debt to the tune of 300 billion in bonds and the CDS's that bond holders bought from the US to pay out on. Then we will see Portugal and Spain with Italy go under, they are too big to bailout.
Nice roundtrip on the VIX in 2 days.
Juncker heard this morning that the Greek economy is CRASHING.
Seriously, anyone coming to the bank when their business is over indebted and their revenues are declining 28% annualized ..
well, come for the coffee and cookies and leave with a warm handshake
I'm thinking that the EU may try to decrease its baseline interest rate to compete with the Fed. Isn't the Euro at 1%, while the USD is 0%? The Fed is simply out of resources - they've used up everything they have, and all they can do is print more money now (or raise interest rates, which runs counter to everything they've been doing lately). The EU still has a little slack, and may start using it.
Dear St Valentine,
Please give Greece the sense to undergo a Disorderly default.. I just loaded up on VXX June calls last week..
ICH BIN EIN GRIECH
Its only money.... its easy to make...err....print. Easy come, easy go.
Holy Saganaki, Batman!
It's worse than that..
I just read this on the Internet, so it must mean something:
Greek economy stuck in a rut
http://money.cnn.com/2012/02/14/markets/greek_economy/
germans call up their heavy artillery...junckers ju87 stuka....and they just want to be more european...yes yes
So does Junker make Angela "The Maid of All Work? : )
http://en.wikipedia.org/wiki/Junkers_Ju_88
oh my...your wiki link shows a picture of the ju88 flying over greece in wwII.....somethings never change. greece has traded junkers ju88 for the deadly economic junckers and angela "the maid of all work".
I guess "rut" is the new euphemism for "crushing depression with no end in sight"
Contribution from Anonymous
http://www.youtube.com/watch?v=4eJP9wDhDoI&feature=player_embedded
RUT is the Russel 2000 small cap index...
Ich bin ein Athener
Fuck gold and silver nosediving too, make up your fucking mind already europa.
You guys leaving USD paper gold and silver?
Typical of the thin paper market.. asset moves as well as manipulation.
I expect to see paper value decline/whipsawed in the tumult.
No problema for long term positions in solid stuff.
Shhhhh! Tomorrow's pay-day and a little discount is always welcome :)
euro is so resilent... it will get to 1.32 at night ( no reason whatsoever) but it will get there
I have a USD voodoo doll I stab at night.
You know. That makes about as much sense as any other explanation I've heard.
i hear you... no sense at all but realisticly euro should be in 1.20+ not 1.30+
whatever reason is that.
http://www.corigami.com/images/money_man_with_origami_hat.jpg
Your voo doo doll is stuffed with doo doo
A little bit of the Bernanke was required to animate it ...
Is it that the Euro is resiliant or is it that the fed is propping it up?
i would guess it's fed or us banks... but for what ever reason that is.. it's how it goes for the last few month. Even downgrades don't do much
plus tonight is euro GDP which ( will be manipulated) will give euro boost.
oh come on, greek debt priced in Euros (with a strong euro) looks great to the money (dollar) masters.
what isn't the Fed propping up?
Me!
Of course it will go up.
All the fiat currencies have to stay "in band", otherwise boom. It's the new "brown standard", like the "gold standard", but based on sh!t balance sheets.
Anyone reporting in USD/GBP terms, but holding EUR denominated collateral on their books will take a massive hit even in mark-to-fantasy land.
Damn. I was just starting to cut back on my lithium. BTFD?
I'm starting to think that no matter what transpires, the TPTB will manage to keep this thing afloat. At least through November 2012 that is. I sincerely hope I am wrong. While I don't want a collapse, the engineered easing/etc and institutionalized falsehoods and deceptions do not make for sustainable societies in the mid to long term--so we're all better off IMO by facing the music now and getting the imminent fall over with.
Anything can happen they can't contain oil prices spikes, more riots throughout the europe, natural disasters and overall cyclical decline
Sadly, though, the banksters who are running the show don't care what's in the best mid-to-long-term interests of society. They're doing everything they can to maximize their own wealth at the expense of society. "Sustainable society" to a bankster means something completely different than it does to you and I.
What. The Germans want all this in writing now? No more hand-shake deals for 100B cool ones? Well someone sure has their undies in a bunch.
Hahaha... the Greeks will put it all in writing. "You want writing? Sure, we give you writing, you give u s money..."
What, me worry?
"It's that time now for Monty Hall's, Let's Make a Greek Deal!
Our sovereign contestants guess what's behind anal door 1, 2, or 3!!!"
another week of "blah blah blah blah"
can't they all just go bankrupt already
I've been sayin that for the past 12 months... if not 3 years...
Lol. He has been so wrong so often
Oh man, here we go. Just another oppotunity for ES to rip to new highs when this is "resolved".
The central banks (ECB, Fed, BOJ) have been lubricating the markets with liquidity (similar as Bernanke injected extra liquidity before they let Lehman to go belly up).
They are preparing for a Greek default.
Remember this from BBC's Andrew Neil?
http://stks.co/28Q0
Connect the dots...
been buying apple puts since 470 and it has been a painful experience. Will anything bring this down for even 2-3 days. GEEEZ
Reggie has been shorting Apple since $360
...trust me, you don't know pain
reading that putz's articles on aapl originally scared me out of my common stock at 330
sure,... some asswipe analyst coming out and saying it's way beyond fair-market value [gotten ahead of itself] when hits ~ $520 or so
jmo
This will teach them to have the paperwork prepared on time...
Is Juncker on the board for BMW? Exports up :)
Que the riot cam
"...very, very, very painfully obvious outcome of a Greek default"
Bet you the usual amount that no default occurs on (or prior to) March 20.
When SPX 1344 // EUR/USD 1.31 breaks down, I will be a believer.
exactly.
Ass.
At the close, or like....now?
NFLX is up! People prefer to stream old movies. Better times and all that.
Greek politiians are beginning to realize if they sell out, the mob will find them in their homes, drag them into the street and beat them to death. This is no longer funny. Ultimately, the Greeks will choose their own destiny. It won't be pretty but they will have thier freedom. If they have to kill politicians to get it done, they will. That's how it's worked for thousands of years.
However, everyone of these Eurocrats knows that if the Greeks leave, the die is cast, the EU will crumble and fail. Just as the USA would have, if we hadn't elected Abraham Lincoln to keep us together. Thanks to Lincoln vision and tenacity no state left the union, and we're still together. Greece leaves the EU and Portugal, Ireland will follow. It then is only a matter of time before Spain and Italy follow, and then it's all history.
If some preversion of a deal is struck to keep Greece in the union, the Greeek people will revolt. And unless you're willing to crush the rebellion the way the Ottman Turks would have (kill everybody if necessary), the revolution will succeed. Somehow I can't see those stuffy PhD Eurocrats, with their nice Italian suits, committing genocide.
I guess I'm saying that we are moving from the polite, diplomatic way of solving problems to the violent one. When the Politicians won't get out of the way, that's unfortunately what happens.
"Somehow I can't see those stuffy PhD Eurocrats, with their nice Italian suits, committing genocide." they would do it in the blink of an eye and get a bonus , they don't give a fuck about anyone else but themselves.
One other thing please Zero Hedge can you stop printing storys about Greece NOTHING is happening , lets go poke fun at something else untill they defalt or Eurocrats are hanging from lamposts .
A Circus isn't a Circus without the clowns.
Send in the Clowns.
http://www.youtube.com/watch?v=vXz57JPnog0
I'll be very interesting to watch the involvement of the KKE (Greek Communists) in a revolution. I don't think Greece will eventually turn communist (probably more like fascist junta), but I'm sure the KKE will have an interesting role to play in the revolution.
I don't know what to make of them but they seem to think Stalin was a moderate. Anyway, you can see for yourself here http://inter.kke.gr/
The game being played out in Greece right now is very much a gamble. The Greek leadership wants the Euro zone money and they will play an kind of pretty game they have to in order to get that money. This includes doing the "austerity" dance of seven veils. They have zero intention to ever pay it back, but they cannot tell the Greek people that until AFTER they have the money. The visuals are awful. The Greek people see themselves being sold into slavery. The Germans and Eurocrats see themselves being played for fools. The Greeks take to the streets when really they could just relax and let the leadership sleaze their way into 130B cool ones (not that the average Greek on the streets will even see a single Drachma of that). The Eurocrats play along because they have their own set of problems they are trying to keep a lid on. Greece will default. Five kinds of Hell will break out when that happens, so they are trying to push back the day. If they can buy themselves a few months more by pumping 130B into Greece then they have a small victory. And if they can get Bennie and the Ink Jets to pony up the cash (via the IMF) so much the better.
The only ones should be protesting all this are the American taxpayers. We'll end up paying for a Greek default via dollar swap lines and IMF outlays. Probably $500B are set to hit the beaches in Europe, maybe $1T. It will all go down on a weekend in the dark pools of finance and we'll never know what happened.
I nominate this for post of the day.
"Be-Be-Be-Benny and the Jets!"
Yup.
Central Bank hegemony, Politician complicity, Population confusion.
Sausage and hot dogs serve a purpose. Most people don't want to know how they are made but good bratwurst and their ilk keep parts of the animal from going to waste and are delicious. Our Central Bankers and Politicians can't even make a decent sausage and instead are peddling cakes of societal Soylent Green.
Why do we need swap lines? Because it is in the US best interest to have the rest of the world tied to the USD.
No swap lines, no need for USD. Rest of the world will start trading outside of USD.
Coming in 2012.
Oh, I think Europe has at least two or three more genocides left in them in our lifetimes, and the Greek people may also start dragging their politicians out into the streets as you say. Tragically and ironically, if that happens, the politicians in the USA will probably watch with a mixed sense of horror over the violence, and gratitude and self-assurance that "it could never happen here in the USA", even though the only difference between the USA and Greece is that Greece has a few years head start on the USA.
Does this mean there is going to be a Default? Delay, Default, Deny? this is crazy stuff!
Juncker junks, Merkel Urkels.
Can someone answer simply this question? I have been following the news more or less from the Greece posts and there are a lot. How does this relate to America?
Because when credit markets freeze, so does hell.
When hell freezes, unicorns die.
When unicorns die,
there are no more Skittles.
Go long flame throwers. Banksters stranded on ice will be like naked investors when the tide goes out.
But way better.
There gonna be a Bar-b-Que, y'all!
You can't make this shit up:
http://www.theglobeandmail.com/report-on-business/international-news/eur...
Bear trap. Not yet
i need more dramamine %-@
[heaves]
The EU demands statements in written form from all Greek party leaders, committing themselves, to stick to austerity measures. A huge ego problem for the 'proud' Greek politicians .. on the other hand, some magic ink could do the job.
Jean-Claude Juncker, if that is your name....
The fact that any currency would move at all based on the half assed statements being made from that part of the planet is proof that there is no value in paper money at all.
What paper money? Its now all electronic 1's and 0's in computer databases. Lots of 1's and 0's.
Thank Gawd for Pacman. Otherwise none of us would be conditioned to want a high score in something worthless that a machine gives out for free.
Pacman was a blast.
It took me a long time but I estimated I sunk about roughly 10 dollars a week in quarters to that stupid coin op.
And if you had purchased gold bullion coins @ $10/week 40 years ago,
you would have a pile of loot today.
Normal cash withdrawal in Italy: € 500. Yesterday: € 200. Today: € 70. What is going on?
If that's what is happening, I would guess that the banks are allowing the ATMs to run dry. Either because there is no cash in circulation to stock them, or because they have been told to horde their cash going into the weekend.
Them as has, keeps. The door is closed. The way is shut.
Source? 34/37 downgraded, could simply be a 'preventative protection measure'.
/tangent
Italy is right at the bottom end of cash ATM transactions in Europe, historically, anyhow ~ so not sure if that's important (CC preferred, much the same as Nordic / Iceland etc).
http://www.ipso.ie/?action=statistics§ionName=EUStatistics&statistic...
When "Anonymous" takes down the CC network (anyone remember that from 2011?) you'll know there's some real issues.
Old cash is going out of style? New cash coming soon?
now they are fucking with the greeks
IMO the line in the sand was trying to get the unelected to agree to carry on the farce.
The last resort will be some passage of a BS bill binding all political parties to the agreement.
That will still not get them the funds.
You can vote for any party or person you like in the Greek elections as long as the policy is always austerity to pay off the German banks.
EU democracy in action.