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Market Chatter Of Greek Default Over The Weekend
This email is making the rounds and catching most traders' attention:
From colleague: trader friend just hit me with the following: There is “Chatter” in the market of a Greek Default this Weekend - and their CDS is over 400 wider… Soc Gen is off 7% on exposure - German CDS more expensive than UK;s - despite the ballooning in the CDS prices for Lloyds and RBS.
In other news, Reuters is reporting that Stark is about to retire; with announcement to come after the German market close according to sources. His potential departure is due to a conflict over ECB bond buying according to sources.
Total chaos.
Update: ES reaction
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Bullish.
bullish for stocks, etfs and corporate debt.
Nassim Taleb came out with this gem today:
"The triplet. Three bankruptcies that would save the world from fragility: 1) Goldman Sachs, 2) Harvard University, 3) the New York Times."
4) Warren Buffett 5) George Soros 6) Karl Denninger
OOOO! OOOO! I wanna play
7) JP Morgan
8) BNP Paribas
9) John Paulson
More like government, banking and MIC
And finally number ten: RobotTrader !!!!!
lol.
IMHO you cannot club crooks with Karl.
how bout baby seals?
YOU ARE BANNED!!!!
All priced in.
you know what's not priced in, hertz is not going to buy dollar thrifty. that's not priced in.
They are going to default some time, the market has already priced it in, so it might as well be this weekend.
And the beginning of the end of the Euro (as we know it) starts.
Nothing has priced in these eventualities.
Ok, maybe it's a dumb question but ... if all the PIIGS default, won't that save the Euro? No need to print, no funny buying of bonds, just a big f-u to the bond buyers.
So this seems Euro bullish to me. They are finally facing reality.
it is more likely Euro becomes stronger (as in real euro of Germany) when Greece and other PIIGS leave the euro-zone
Everyone should invest in equities. Haven't you heard? They're cheap! There's no downside risk either. If the economy improves, STOCKS GO UP! If the economy collapses, Bernanke will shoot it up with a huge dose of funny money and STOCKS GO UP!
What? Buy gold? Buy silver? Conspiracy theorist!
Right, buy semi auto firearms and lots of ammo.
IMO, everyone's first purchase should probably be a pump shotgun or (any) .22.
Lots of semi auto shotguns and .22's out there.
there a way to buy "lots" without flagging hard on the radar?
Depends on where you live. Check your local laws and begin stacking accordingly.
backpage.com lots of AKs for sale there for under $600. no bill of sale, background check, registration or tax for private sales.
indeed!
lol
PM's = Gold, Silver, Lead
Lead is a soft metal. I prefer steel. It penetrates body armor, vehicles, and walls. Why have an assault rifle and not have steel core ammunition? ;-)
A 165 soft point coming out of a 30-06 or 308, there is no body armor I am aware of that can stop it. Same with engine blocks and walls.
Now if your talking AK or AR, need to leave those for the women and children and get yourself a real weapon.
Opa, bitchez!
this makes sense...the g-7 can announce plans to support the market in the aftermath of the default
Maybe this is why PMs are being pummelled now. Just like the Swiss government, G7 wants to keep PMs in check when Greece defaults. However, I don't believe Greece will default so quickly...
Agreed. Rumors are to panic the herd...
Rumor has it the herd is panicked.
V
Medusa Wrath Bitchez
RELEASE the KRAKEN!!
Here you go...includes some good dramatic music:
http://www.youtube.com/watch?v=V3hq82HOKhs&feature=related
"Kill the wabbit"?
Can all this chaos not wait until the Rugby world cup is over?
perfect timing. america will be pre-occupied with 9/11 anniversary and start of NFL season.
America MIGHT be pre-occupied with a NEW 9-11! You hear all the news chatter about 'credible terror threats'....'3 guys in a non-descript van'...and all that?
The scaremongering is mainly aimed at our children I think.
Why? Because american grown ups are all too retarded to get it?
Children are smart and if not checked early can ask awkward, intelliegnt questions later.
LMAO+++++++++++++++++
here here ...
came very close to going to New Zealand for a week of games ...... obviously we face high volatility ... so many cross-currents ... dangerous to walk away day-by-day.
Over the weekend? G7 has decided to let Greece down? I feel difficult to believe this rumour
You are right.It's impossible a default this weekend,because Greek PM is visiting Thessaloniki for ???.These rumours are for traders...
Great.ZH does not support greek alphabet.Fear of the greek bears.
the bernank will buy them in like 15 minutes.
Plus One always!
I love the smell of Chaos in the morning....
I'M HANKERING FOR A Whimpy burger? (:
Rumor has about 75% "voluntary" participation in the greek restructuring, 90% is required.
Is it time for the fat lady to sing?
Imagine if it's time for Thin Lizzy to sing!!!
V
When CNBS says it then it is not just a rumor for the Bitchezzzz here at ZH and you know something is up...
http://www.cnbc.com/id/44439054 Greece's Euro Membership Is Hanging By A Thread...
Greece's Race to Catch Up on Reforms Seems Doomed
And what is this slightly off topic BS I wake to? Obama Unveils $447 Billion Jobs Plan to Congress What happened to 300 billion just yesterday? Toss an extra 147 bil at the problem and see if it goes away? Inflation?
Just in time Barry, you can start by giving a chunk to BofA so they can rehire the 40,000 they just announced they are laying off. BofA discussing about 40,000 job cuts: report
And of course there is the euro itself doing it's best impression of Madame Butterfly in her closing scene. $1.3721 and falling.
Kick the can no more, if they do manage a couple more kicks they will get a lot less distance and it will be with the pain of all those broken toes. Monday should be interesting for traders.
This should anchor expectations nicely. Of course the line on the anchor is 6 ft long in a 4 mile deep river and will pull the dinghy under with it.
OPA! lets break some plates and dance.
Plunge Protection Team at work.........Bitchez!
Uh, the reverse PPT seems to be at work at the moment.
Plunge Propagation Team.
You may not sell your bonds and run into equities.
Oh snap!
Sorry Sheep but that comment is clearly metrosexual!
-1
What, you dont use product?
lol
Ah !
Plunging. Pick yer own connotation.
Speaking of plunging; don't count on it to be effective when the water system fails.
Gravity sewer systems require a lot of water to keep things moving.
PPT on holiday on a Greek Island this weekend, Bitchez!
and yet those banking goons are still sitting on golds chest, not letting him rise to the occasion
yah - but Gold's a stud and if they don't get off they're one right up the ass.
Google image: Der Spiegel + Euro + Greece and click on the picture. Funny stuff.
What else did people expect with 2 year greek bonds arround 80% yield ?
Frankly I expect more pink unicorns jumping over glitter rainbows.
How much for the women?
I dated a Greek chic for a while, she was insane in the rack....ah fond memories...until I broke up with her, she stalked me for months....
Now that would make Monday morning interesting. And yes, let them hike gold margins as much as they want. Will buy more on the dump. But, all that does is remove some speculators which none of us want anyway. This is not a 6 month investment for most of us. This is for the long term. And those on the idiot channel who advise we are not very smart to get "married" to gold do not even begin to grasp what they are talking about. If at some point we elect a "Thomas Jefferson" and have an entire change in Congress, elect Men and Women, instead of puppets and do what is right for our children and country. Then we will talk about moving on from gold.
Just wake me up then and I am with you. Until then I just make the call every month or so.
And is this not perfect as to what is happening in this country. Second largest bank and largest Fast food. This is the damn path we are on.
MarketWatch:
Bank of America cuts may hit 40,000 (WSJ.com)
• U.S. leads McDonald's sales growth for August
Here is my weekly newscast-This week is about Italy and it's protest and the effects to the European debt crisis. Enjoy, and down with the banking cartel!
http://www.youtube.com/user/zedgehero
Looks like I picked a bad day to quit drinkin Ouzo!
Ouzo and Grappa are in a race to the bottom.
Can't wait for beer and wine to join the race.
Has Cramer come out and informed the world that Greece is 100% safe? Cuz that would seal it for me.
I dont think Cramer does countries, just insolvent banks and worthless stocks.
Hercules partied to hard with the Entitlement Drunks. Hangover commences in 5, 4, 3, 2, .....
I guess that would work, too, as eventually the Romans will suffer the same fate, but I think you really mean Heracles?
Who is the program director that allows this sham of a person on at 6AM on the West Coast? I either turn on Bloomberg or mute. Who gets paid to put this idiot on TV so often. Makes me sick.
I cant figure out why it is some of these flat-out retards are on TV talking to me, I probably DONT want to know the greasy reason!
Because it's not over until ALL the wealth is transferred!
don't look here quick look over there..a nation in the west defaults is not in the EE game plan..expect daddy warbucks er Obuma to cough up some FRN.s we are all greeks now
This SHOULD be bullsih for equities, becasue it all but guarantees QE3 and maybe even moves the date up for impelementation. Not to mention size would be nuclear.
This is the bank failure everyone's been talking about except we skipped to the sovereigns. Good way to prime the banks again.
but but i thought they fixed greece when those two small banks merged.
Well at least 9/11 terror has become more civilized.
Bloomberg:
Stocks Tumble Worldwide After Obama SpeechAny questions?
Well futures didnt tumble until a few minutes ago. Sure Obama is an ass hat and his stupid central planning speech is worthless, but I think something else made stocks tumble.
Who's your daddy...USD
Fucking Greek Tragedy
Soverign Nations have been added to the definition of TBTF
Like i said in the earlier post today: Put Your helmets on, it's on like Donkey Kong!
Why was the Greek boy sad after coming to the USA?
Because he left his brother's behind!
Short olive oil and tzatziki?
Long Grecian-Formula?
How to trade. How. To. Trade.
Easy. D.O.N.T!
V
Tipping Point is Here
Lagarde and the rest of the central planning maroons are blatantly saying there should be global coordination of banking and government interventions for "recovery". Well, timing of a Greek default now would be perfect to give Bernanke more lattitude for OT2 and QE, buying Euro bonds, giving more liquidity to European banks.
Never let a crises go to waste.
Of course all that would channeled through her office yes? Along with all the sovereignty traded in for that "help."
Thank goodness. I was getting nervous there for a moment when futures surged after Obama's speech.
i am jack's looming default...
bring it! i'll start with some saganaki, thank you.
Amazing feat of EU CB-ing they could extend this for 16 months. Mz Merkel looks worn out.
Hey, gurus...what credibility is there in this "huge intervention" that Catrini is talking about for this weekend?
http://video.foxbusiness.com/v/1149546801001/buy-stocks-that-benefit-fro...
Greek 1 Year hits 97.418%
Greek will probably default officially this weekend.
Bullish for EURUSD when the cancer therapy is finally starting.
Don't forget the paper manipulation. The propaganda either way is just hype.
Gold in 2011 reminds of oil in 2008. Who would ever believe that $147 per barrel was legit? Peak oil hype and paper traders pushing the price up. It was a racket! Now gold pushing higher.. by who? Keep in mind that meaningful buyers are going directly to the source and pay much less for their gold than retail does.
Hmmm, 9/11 terror alert/act, greek defaut, and worldwide easing all happening in the same weekend?
It's more likely than you think.
If a "terror" attack happens this weekend, it will mostly likely be to divert attention away from these. They need mass confusion to get away with this caper.
I put the likelihood of all three of these evens happening on the same weekend (without it being a setup) at about 1 in 250 million (one major terror attack every ten years, one round of QE each year, and one state default each year (being generous), and two days in the weekend.
i got a fever...and the only prescription is more greek default