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Key Highlights From Draghi's Press Conference
The headlines are rolling in. From Bloomberg:
- ECB SEES 2012 INFLATION AT 2.3% TO 2.5% VS PREV 2.1% TO 2.7%. - so... counterdisinflation
That's the kicker: ECB sees inflation. Deus Ex Off - forget more easing at this point. Everything else is just filler.
- ECB SEES 2013 GDP AT 0.0% TO 2.0% VS PREVIOUS 0.0% TO 2.2% - not good
- DRAGHI SAYS INFLATION RATES LIKELY TO STAY ABOVE 2% IN 2012
- DRAGHI SAYS MARKET TENSIONS, UNEMPLOYMENT TO WEIGH ON ECONOMY - ya think?
- DRAGHI SAYS UNDERLYING PACE OF MONETARY EXPANSION SUBDUED
- DRAGHI SAYS ECONOMIC GROWTH REMAINS WEAK
- DRAGHI SAYS ECONOMIC OUTLOOK IS SUBJECT TO DOWNSIDE RISKS
- ECB EXTENDS FULL ALLOTMENT REFINANCING TO AT LEAST JAN 15 2013
- DRAGHI SAYS NON-STANDARD MEASURES ARE TEMPORARY IN NATURE
- DRAGHI SAYS EURO-AREA ECONOMY WILL RECOVER GRADUALLY
Finally:
- DRAGHI SAYS BANKS MUST STRENGTHEN BALANCE SHEETS FURTHER.
As we said first thing today: check to Fed. And Germany.
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Oh Mario, Stop Draghing My Heart Around:
https://www.youtube.com/watch?v=nPeMx6LQxPk
Draghi vs. Bernanke game of chicken.
Where would Europe be without Capt. Obvious?
draghi says put your hands on your wallet.
draghi says pull your wallet out of your pocket.
draghi says take out your money and hand it over.
i'll give your money back.
GOTCHA! didn't say draghi says!
Everything that these people say is more or less useless.
Stay contrarian.
Sshhhuusshh man, Im trying to concentrate on what he's saying.
did anyone see that moron liesman on cnbc yesterday saying we should bil out europe?? whats the matter steve afraid obama is going to lose this fall? and he must be long the euro..
If Obama bombs in November, that lame duck period could be bad for your health.
http://www.nationofchange.org/praying-church-st-drone-1338909597
I think thats just what they really want, a 'chaotic period' to blame it all on....'HEY it wasnt us at the Fed! The political world imploded, SEE?'
Anyone know where we can vote on politics? I'd put my money on Jeb Bush taking the nod from Rmoney at the convention.... unless Romney picks Cheney as his VP.
* Draghi : Gravity to affect EU in 2013
NOW the ES is finally dropping good....
THERE WILL BE BLOOD INFLATION!!!
At least someone actually realizes that inflation is bad. Mr. Bernanke please meet Mr. Draghi.
I'm not sure whether we heard the real Mario Draghi talking. It sounded more like the Bundesbank took over. After all, price level stability is the only target of the ECB, not growth and not providing liquidity to insolvent banks. Go Hawks!
Must...ice...down...HFT...computers.
Must....rig up....liquid nitrogen....direct injection....for HFT....T1 Terminators.....
* DRAGHI SAYS ECONOMIC OUTLOOK IS SUBJECT TO DOWNSIDE RISKS AS YOU WILL BE BENDING OVER.
omg.. thanks for a good LOL in real life to start my day! LOL
The market seems pretty happy, regardless
Money spigots to be kept wide open. 3 month operations will be offered at fixed rates at full allotment
Gold & silver see more printing after conference.
Soooo markets wer e rallying from a video conf call from which nothing happened. Then from ECB savior that also did nothing. Yet as cnbc would say, "we are well off the lows." ooh yeah markets are functioning correctly.
Downward move is done, get ready to go long
DHRAGI DOES NOT SAY HE WILL SCREW TAXPAYERS TO BAIL OUT BANKS
By the way...TEPCO broke the cooling pump for Cosmic Threat Pool 4 again, and the backup pump, but it's OK, they only ran it 12% of the way to the boiling point (in about a day) before fixing it this time. And, they didn't mention it until later.
So, all good!
http://www3.nhk.or.jp/daily/english/20120606_31.html
TEPCO resumes cooling of Fukushima fuel pool
The operator of the damaged Fukushima Daiichi nuclear plant has resumed cooling of a fuel storage pool at the facility. The work had been suspended due to failure of a water cooling pump.
The pump at the Number 4 reactor building pool stopped working on Monday night after becoming burnt. The pool holds 1,535 spent and unused fuel rods, the most at the plant.
Tokyo Electric Power Company, or TEPCO, used a backup pump, but on Tuesday, it also broke. The firm fixed the pump on Wednesday, and restarted it at around 6 PM.
TEPCO says the pool's temperature at 11 AM on Wednesday was 40 degrees Celsius, up six degrees from a day before. As of 5 PM, the temperature had risen to 42 degrees.
TEPCO expects the temperature to fall by about 10 degrees over next 12 to 24 hours.
The firm plans to begin removing the rods from the pool by the end of next year.
But experts say they're worried about the pool's anti-earthquake resistance despite ongoing reinforcement, as the pool was severely damaged by a hydrogen explosion following the March 2011 disaster.
Jun. 6, 2012 - Updated 10:52 UTC (19:52 JST)
The Argument that Fukushima Was Sabotaged
http://www.whale.to/c/argument4.html
Former NSA analyst, Jim Stone, argues that there was no mag 9.0 earthquake. The tsunami was caused by nuclear bombs in the sea and the Fukushima explosion and meltdown was caused by mini-nukes hidden in cameras installed by an Israeli security firm. The motive: punish Japan for offering to enrich Iranian uranium and straying from Illuminati diktat.
It turns out that the official explanation for the Fukushima reactor explosions was bogus as well. Nuclear power containment walls are extremely thick and strong. Hydrogen explosions could never have destroyed them. As a historical reference, hydrogen explosions occurred at Three Mile Island and caused no structural damage, nor even any injuries to plant personnel.
Furthermore, Reactor Four contained no fuel on 3/11/11, and was therefore nonoperational -- yet it exploded and was destroyed as completely as were the other reactors that day. Reactor Four is like Building 7 at the World Trade Center - an utter impossibility, a blatant smoking gun. A reactor containing no fuel cannot operate; a nonoperational reactor cannot explode unless someone explodes it. The destruction of Reactor Four can only have been the result of sabotage.
In February 2010, Japan offered to enrich uranium for Iran. Soon thereafter, an Israeli firm by the name of Magna BSP secured a contract to run security at the Fukushima Daiichi plant. They installed oversized cameras strongly resembling gun-type nuclear weapons. There is strong evidence that they planted Stuxnet, an Israeli computer virus that attacks Siemens power plant control systems, and which Israel previously used to damage Iran's nuclear program. Magna BSP also established internet data links in the reactor cores, in blatant violation of international nuclear regulations.
All twelve members of that security team returned to Israel in the week before 3/11/11. In the aftermath of the disaster, the Israelis publicly monitored the reactor cores via their illegal internet data links. Yet no one took them to task for this.
Furthermore, Reactor Four contained no fuel on 3/11/11, and was therefore nonoperational -- yet it exploded and was destroyed as completely as were the other reactors that day.
I have read no mention or discussion of this--strange.
Nobody knows...here's the sort of explanation so far...randomly copied from a nuclear news site, you can find versions repeated in various sources.
http://www.world-nuclear-news.org/RS_Theory_for_Fukushima_Daiichi_4_expl...
17 May 2011
A theory has emerged to explain the explosion at Fukushima Daiichi 4, despite no nuclear fuel being damaged there, based on an influx of hydrogen via pipework shared with unit 3.
Major damage was done to unit 4's reactor building some time on 15 March, but until now no technical explanation for this had been made known. Hydrogen explosions occurred at units 1 and 3, with the source of the gas being damage to fuel in the reactor vessels. However, unit 4 was undergoing maintenance with its core stored temporarily in the pond, leading observers to think unit 4's hydrogen explosion must have come as a result of damage to fuel in an overheating pond.
However, on 30 April a visual inspection of the pond revealed no serious disruption to the structures and fuel, apart from a scattering of debris. Tepco did not see the kinds of damage that would result from the pond boiling dry and the oxidation of the fuel.
Now the company has put forward a theory based on a hydrogen explosion due to influx of gas via ventilation systems shared with unit 3. Warning its theory was 'presumptive', Tepco said hydrogen from venting unit 3 could have flowed into certain levels of unit 4 through its Standby Gas Treatment System (SGTS).
When called upon, the SGTS moves air from the reactor building to the environment through a series of filters and discharge via an exhaust stack. Its operation maintains low pressure within the reactor building and prevents any potentially contaminated air leaving through tiny holes. Fukushima Daiichi 3 and 4 share the same stack, used for this purpose as well as for venting from containment when a reactor is at high pressure.
Tepco said that hydrogen from unit 3 could have 'flown' into unit 4 during venting to emerge in five different locations on the 4th and 5th floor. The company has yet to ascertain whether the system valves were in a position to make this possible, but it considers damage to the building to be consistent with the theory.
It could also explain fires seen in unit 4 earlier on 15 March, which were reported at least twice but extinguished themselves without any intervention.
Thanks, Jim. Always appreciate your comments.
Guess check to the fed again, with Bloomberg tv playing up Lockhart saying he's open to extending operation twist, because you know Long term rates were not low enough? Or are they ? I dunno guess I must not know anything anymore.
In other news: Captain of the Titanic declares "All is well!"
And now we can say more accurately zeblablah, how do you say ahh dedsline blablabla. Hmm, seems to be all fixed to me. Sell this ramp.
Obviously no easing coming, with a side order of 'But cant we just pretend it is?'
comparison? http://youtu.be/d8IBnfkcrsM
i guess it was priced in ;;yawn;;;
Grass hopper, only when you are able to snatch the rumor out of my mouth,you will see a market rally
I thought he did not say to much...for all that is going on....tomorrow is Spain selling bonds....good luck after today...and I also think he is trying to drag the USA into the fray...I think he knows our banks are heavily involved in the Casino.....
gold and silver heading for their next plateau
Draghi: "There is no silver bullet".
Comment in response to Fukushima post moved up.
SPX rally warning & USDX retracement warning now confirmed & good (counter trend) equity upside expected.
http://www.zerohedge.com/news/2012-12-24/market-analysis