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Latest Irrelevant European Stress Test Results Leaked
In all the noise, Europe decided to rerun its stress test and come up with the following completely meaningless "latest and greatest" capital shortfalls:
- Greece: €30 billion
- Italy: €15.4 billion
- Germany: €13.1 billion
- Spain: €26.2 billion
- Portugal: €7 billion
- France: €7.3 billion
- Austria: €3.9 billion
- Belgium: €6.3 billion
Etc. Why meaningless? Simple - one chart says it all...
Although we give them this much: the total shortfall sure is bigger than that discovered when Europe ran its first stress test, when the total shortfall was... $ (not €)4.5 billion!!!
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Partial list of EBA assumptions, no recessions anywhere, IMF rescue, leveraged EFSF, Fed rescue, fairies, unicorns.
Tyler,
you love the drexia chart. dont blame u
looks like they mispelled "trillion"
isn't a billion like 100,000 millions in the UK system? So maybe that's what they meant.
Because these "shortfalls" are a drop in the printing bucket for the Fed
The decimal points are in the wrong place & they dropped a zero.
At least in Europe they TRY to put numbers on the shortcomings.
The US has given up on that a LONG time ago. Now they simply messure their shortcomings in TONS OF PAPER to keep the presses running 27/4. Last one switches the light off.
...and don't forget the Sanity Clause!
Blame it on EU/Europe. US is perfect, the best, etc etc
Reads almost identical to Sigma X.
coincidence?
all candidates for forced recapitalization or just plain vanilla nationalization
In relative terms it sure makes Spain stand out. That alone should be cause for concern.
EBA - building trust and CONfidence. We can make insolvent look solvent in no time, even after bank failure.
P.S. Our models also don't allow negative numbers.
"absolute"ly
I wonder what todays 3pm rumor will be.....
WTF is going on with silver?
It's being manipulated. Take advantadge of it and buy some.
http://www.tfmetalsreport.com/blog/3103/no-rest-turd
Here's a Turd quote for the lazy people, dated December 7, 2011, 10:16pm.
"If gold crashes again over the next few days, don't say you weren't warned..."
The banks to include the central banks of the world are sitting on so much toxic waste it's not funny. Our own Fed. is leveraged some 50:1. Do not pay attention to the price pull back in PM's, or the deflation noise. Deflation may come which will pull gold and silver down with it, but consider it like that of a tsunami; it pulls the water from shore out to sea right before the massive wave of destruction.
In other words, if deflation does it, the printing noise out of Washington and around the world will require ear plugs so they can bail themselves out. I would suggest not waiting to buy once the tsunami hit's either. Everyone and their kin folk will be rushing to buy the metals. Your local coin dealers will get wiped out quickly as they are keeping tight inventory because of the current PM market volatility. The price swings are having a negative impact on thier cash flow (it take's fiat to run the business and if they get caught with to much on hand in a down draft it stresses the business). Trusting a 3 week shipment from an online dealer might be risky. Once they have your cash who knows how long it might take to get your hands on the PM.
That being said, do not over leverage yourself either. GOLD, SILVER, OIL, CASH. AFTER your other provisions have been solidified.
Gold and Silver's price in dollars will fall during a deflationary event, but their purchasing power will increase. Got to stop thinking about PM's priced in FRN$, cannot define something tangible with something that is imaginary.
"do not over leverage yourself either"
hell, I'm even skeptical of any leverage...
it's getting blowtorched.
Look; it's critical that you evaluate the evidence against the predictions of the ZH echo chamber silverbugz. Silver is primarily an industrial metal now. It's not good wealth preservation. It's risky speculation.
Don't listen to pumpers on the internet, even ZH.
Its way more easily manipulated than gold.
hunting call for hunt's brother's
Majority of new silver demand is coming from investment.
Corzine miraculously remembers what he did with the money....
Save the whales...........
As Juncker said 'you have to lie'!
"Stress Test" is about the dumbest thing I have heard in the last fifty years. Where do they dream up this bullshit? They must read a lot of comic books.
I feel the FRENCH DOWNGRADE By Moodys...from AAA to AA
FEEL DEVOTION¡
a mere €108 billion shortfall (excluding any possibility of sovereign defaults, haircuts or bank runs)
€108 billion (Note: does not include off balance sheet games, derivatives and leverage, the inclusion of which would multiply this BS figure by many times)
I'll give them this much, they've come up two orders of magnitude. One more and they are getting close.
It's this other planet that NASA discovered, Kaplan 2 (?), their IMF is bailing us out. Gaitner was overheard at EZ dinner.
You must be an American. It is Kepler 22b :) Don't get lost out there! :)
Tons of angry letters must be pouring into General Jim's fax machine today.
"But Jim, you promised!!!......"
http://data.cnbc.com/quotes/nflx
Do you by chance live in a glass house?
General Jim usually gets tons of letters on how his advise has secured peoples savings and how well they're doing
How's your portfolio Robby Robot... had an 800% increase since 2000 ?
Robo still enraged that he dumped his gold at $900....he will obviously never get over that terrible call, or his latest 'all-in with everything Ive got' at DOW 12,700.
Who are you trying to fool here Robo?
Odd that 4 months ago IMF put EU Bank capital needs at EUR 200B and Goldman put it at EUR 1T.
Two weeks ago Oliver Sarkozy put the number at around $3T.
I am not sure these stess tests would even qualify as 2 ply.
If the Europeans only had the FDIC...they would have nothing to worry about.
...another charmin comment fr lizzy!
I just have to laugh when I see those figures.
The EU has lost all credibility.
No one believes those numbers are correct.
Meanwhile back in Italy nothing is fckd as the 10 yr yield is back to 6.444...only 56bp off the lows today.
http://www.bloomberg.com/apps/quote?ticker=GBTPGR10:IND&n=y#
Can someone please explain to me why the Dow isn't down like 300 points right now?
It is priced in USD.
Euro is still being propped up.
Fundamental analysis...dead.
Technical analysis....dead.
We are all currency traders, now.
Flash crashes aren't allowed anymore.
Yes it's the largest hedge fund in the world. It's called the Federal reserve.
Only thing with any relevance to all markets is now USD/EUR...yea it sucks, but thats what people will get until banksters start getting dragged out into the streets with ropes.
GSA PPT.
I thought the last stress test was supposed to reasure us everything is okay. You mean to tell me it's not? I'm feeling a bit stressed.
Don't worry...Timmay is 100% certain that this Euro crisis is solvable.
Yes, the Fed will bail out the EU.
It trashes the dollar of course, maybe (finally) knocking it out of WRC status, wiping out trillions of wealth from Americans, but Timmah doesn't care, Ben doesn't care, keeping that sovereign debt ponzi scheme going, keeping the bond market going, keeping those banks going, keeping those bonues flowing, is all they care about.
So sad
http://rt.com/usa/news/food-stamp-texas-children-grimmer-291/
Only €7 billion to bail out Portugal's entire banking sector?
Hell, Warren Buffett could write a check for that amount.
So what's the hold-up? Uncle Warren's holding out for a cheaper price, and a higher yield on his Portuguese convertible debentures?
Well, IMO the politicians justify their fatuous public lies as a means to use the media to immobilize public, commercial and financial actors. Its really just a control mechanism.
Politicians and government officials are the biggest liars possible.
Don't you fools get it, it is American hedge funds that are to blame for the EU insolvency:
http://www.weeklystandard.com/blogs/german-politician-euro-downgrade-american-plot_611697.html
"But it was Rösler’s colleague Rainer Brüderle who had perhaps the most extreme reaction. Brüderle is the chair of the FDP group in the German Bundestag. “I am no fan of conspiracy theories,” Brüderle told the German business daily Handelsblatt, “But sometimes it is hard to avoid the impression that some American ratings agencies and fund managers are working against the euro zone.”"
It is hard to avoid the impression that Eurocrats are acting strictly in the interests of the banksters, NOT Europeans. It is hard to avoid the impression that Eurocrats are looking to milk the US (via the IMF) for every last drop before they print their own money. And it is hard to avoid the impression that Eurocrats have been frantically preparing for the inevitable collapse of the Eurozone behind the scenes, while at the same time PRETENDING to commit to the Eurozone to BUY time and keep the flow of Bernank money flowing. sigh
Anybody who bought gold or silver the last two days probably wishes they had never been born.
Anybody that bought stocks a decade ago and has a 0% nominal return probably wishes they had bought gold.
There's a LOT more to creating and maintaining wealth than the last 48 hours in your rear-view.
Robo will soon turn comicbook villain, Joker, maybe 2-Face style,...still seething with rage about his terrible 'The top is in on gold here at $900 Im selling and all you idiots should too'...along with his more recent disastrous call to 'go all in with all youve got here at DOW 12,700, take my word for it, we blast off to the moon from here'. Robo....seek help.
over $30 an ounce? Damn, man, you must be playing with a REALLY small stack to sweat that kind of price move
Betcha we'll close in the green today and we'll get some bazooka tomorrow! Bazinga?! Anyone?! :)))
I'm interested in Silver....does anyone have any insight?
Don't buy paper (not even from people you trust--you don't know what kind of counterparty risk . Cost average. Don't sell for paper currency.
That is all.
It is like listening to a drug addict. "I just need $20 to tide me over till my welfare check comes in...to buy food." Give them $20 and they race off to buy another hit of crack.
The idiocy of all these "save the bank" schemes is insulting to anyone with even an ounce of intelligence. It is 100000000% clear that ALL politicians and their corrupt party systems are there for the benefit of the bankers - NOT the people. How long before people wake up and really do something?????
You gotta think bigger and leverage it! Give that crack dealer a $20 to get him to front you $100 in crack! But boy oh boy, when that dealer comes looking for his extra $80 plus points.
My advice on silver would be to buy this dip once it settles out.
I would feel comfortable buying around 30-31 right now and I would sell my clothes to go all in at 26 should it go the wrong way again.
Your entry will never be perfect unless its luck, same goes for your exit. Just remember printing wont stop.
I can't read that damn chart. Asinine bullshit.
Leading to nationalize banks.
ECB Does Quantitative Easing, Eurozone Bonds Drop, Franco/German Proposal In Jeopardy
http://confoundedinterest.wordpress.com
It's only paper. It's a pity that the banks, not the populations, don't get stuck with it. A real stress test is how fast you can run, when you see a tornado coming your way. The paper tornado is going to circle the globe.
http://georgesblogforum.wordpress.com/2011/11/02/the-daily-climb-2/
Let's get FASB to fix it!