News Just Keeps Getting Worse: Spain To Cancel August 18 Auction As Bundesbank President Says Opposes ECB Bond Buying

Tyler Durden's picture

The newsflow just keeps getting worse. Via Dow Jones we have learned that Spain, not Italy, has decided to pull its August 18 auction and will instead launch its 5 year auction on September 1. Once again, Zero Hedge being just a little prescient with our 7 am commentary that we "look for Spain to follow Italy in a self-imposed bond market exile." And in far worse news, we now get a schism within the European banking authority itself after Bloomberg reported that the Bundesbank's Weidmann is said to be opposed the resumption of ECB bond buying, at least two bouts of which already took place earlier, most likely in Italian and Portuguese bonds. "Weidmann was not the only Governing Council member against the move, according to an official speaking on condition of anonymity because the ECB policy meeting is not public. Bundesbank spokeswoman declined to comment." The last thing that that the market needs to see now is uncertainty. That the market will see idiocy is a given, but at least keep the idiocy constant. That someone may be a voice of reason only sends shudders of terror through the spine of billions of vacuum tubes around the world which have no idea how to predict the future at this point.

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Bard's picture

In business media (Polish CNBC) they are asking analytics all the time ,,its a good time to buy stocks?".

Takingbets's picture

Haven't you heard, it's ALWAYS a good time to buy stocks! Bahahaha!

TruthInSunshine's picture

<--RoboTard=ultimate fade

<--HarryWanger=urinal cake IPO failed

Ahmeexnal's picture

and it has begun.

the panic spreads and the herd rushes toward a safe haven.

DXY is on it's LAST RALLY.

Transformer's picture

"shudders of terror through the spine of billions of vacuum tubes around the world which have no idea how to predict the future at this point."

New term, calling the slow and plodding "vacuum tubes". 

I don't get it, the future is getting easier and easier to predict.  It's normalcy bias that stops people from seeing it.  The future couldn't be any clearer.

Zero Govt's picture

Yes isn't that what Boehner-Reid-O'Bummer said only this week the Debt Ceiling Deal was supposed to engender... a strong stock market?

Is there anything in the country these worhtless cretins haven't lent their name to and trashed almost immediatly??? 

PolishErick's picture

OF COURSE!! ITS A DIP!! BUY THE FUCKING DIP!!!

 

Haha, I read on stooq.pl (also Polish) a headline that had the term "mild panic" in it... I thought there was only one level of panic- the one foaming at the mouth, blocking reason, with fear in the gaze, leaves and shit in the hair... but turns out we are still far below "semi-serious panic" or for example: "slightly concerning panic"

 

Can they still kick it down the road or is THIS IT?

bob_dabolina's picture

o/t 

Where are all the peak oil junkies? Never hear from the guys on days oil is down 3%

topcallingtroll's picture

Well....VDE peaked.....that is good enough for me.

Note to self's picture

Wer'e all out filling up our tanks while the price is low (ya moron)

The Count's picture

Whats your point? One or even several down days don't mean diddly squat. 

Dick Darlington's picture

When was it? Yesterday, when Salgado once again repeated all is well and added that Spain has not and will not cancel bond auction. Credibility just keeps on growing...

GeneMarchbanks's picture

Too bad. I really was going to attend that auction. Not to bid, just to laugh.

schismjism's picture

whats the difference between spain and italy?

 

three letters and 4 hours.

Zero Govt's picture

Holy Sangria Batman.. there's a bottleneck in the brewing of debt!
Disclosure: Short paella

Mr Lennon Hendrix's picture

This is so awesome. 

Nothing else in the world smells like that.  I love the smell of napalm in the morning!

pods's picture

Smells like..........Victory.

 

malikai's picture

<-- Bank run/holiday imminent.

<-- What is going on with the Kardashians?

lynnybee's picture

Great day on ZEROHEDGE, super website, i just love it all.

The Count's picture

Forget Spain, how about a march on Washington (with pitch forks) to demand our elected bozos to return to work until the solve the FAA mess. This is way beyond acceptable what the incompetent idiots in DC are doing.

 

 

goldm3mb3r's picture

I don't want your stinking paper.

kaiten's picture

Well, this is all preparation for QE3. Stocks need to crash, euro need to crash(i.e. oil need to go down), panic need to be stirred up everywhere, so that QE3 is seen as messianic(and only possible) savior (of american and world economy).

TruthInSunshine's picture

 

 

 

While this is true, QE3 will look far different than prior iterations, and whatever form/shape it takes, it can't offset the black hole that is the job destroying force ravaging the globe.

The CONfidence game is up.

It's all a CONfidence game and Ponzi Scheme. Truly.

Government loses when people lose faith that things are getting better (as reported by the MSM government proxy agents) or that government truly has control over economic matters.

The people buying $2,500 designer shoes on paper profits in stocks are going to be shocked, not eased, into a world of austerity that is about to beset the global economy.

The elite that meet to beat are relatively few in number and are set, for the time being, anyways.

Self-sufficiency is the new currency, but it's a rare currency.

kaiten's picture

1. They dont care about unemployment. All they care about is stuffing the pockets of their bankster buddies with printed money. And ...

2. ... If they do it as world "saviours" (See, the world was collapsing, QE3 was the only possibility), the sheeple wont protest.

Central Wanker's picture

"The last thing that that the market needs to see now is uncertainty."

Uncertainty? What uncertainty? This thing is going down with great certainty!

CrankItTo11's picture

<-- World chaos deliberate

<-- World leaders incompetent

Agent P's picture

Nobody expects the Spanish Debt Suspension!!!

oogs66's picture

Don't forget, Greece has a big bond maturity and some decent size coupons on August 20th.

Winston Smith 2009's picture

Did you know that Zerohedge was referred to here?:

http://www.telegraph.co.uk/finance/financialcrisis/8680820/Debt-crisis-l...

Now that reality sets in, the blogs that have been warning about the fraud from the beginning start getting quoted.

RichardP's picture

We'll close in the green today.

Instant Wealth's picture

All sing along ..

"No tengo dinero .. oh oh oh!"

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