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As A Reminder, Here Is What China REALLY Thinks About Italian Bond Purchases

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Mon, 09/12/2011 - 15:45 | 1660938 Irish66
Irish66's picture

When China wakes up they will deny but we will be closed

Mon, 09/12/2011 - 15:50 | 1660970 Jasper M
Jasper M's picture

When China wakes up, it will chew off the arm that Europe has fallen asleep on, to escape. 

"Ug! To much rice wine! Now must go boil honorable self!" 

Mon, 09/12/2011 - 21:42 | 1662167 CPL
CPL's picture

Actually here is the exact piece of information needed.


Original Source:



Shitty translation:

Earlier, Chinese Ambassador to the EU Embassy Press Counselor Wang Xinning said in an interview that the Chinese government is considering whether to buy euro-zone bonds again, but to buy European bonds are based on commercial considerations. He said China hopes the situation is getting better the euro area, and are willing to assist, but impractical to spend millions to buy European bonds. The EU can not rely solely on China to save Greece.




China will help by waving their hand from the deck of their ship while the euro titanic sinks.

Tue, 09/13/2011 - 05:31 | 1662847 Léonard
Léonard's picture

Do you really think the Chinese would be stupid enough to help the Euro  if they didn't trust it ?

Come on. Greece's GDP is insignificant for the Eurozone and if the country default, the Euro will be stronger than ever. So stop the nonsense. The seriously ill currency is the dollar not the euro.

Mon, 09/12/2011 - 15:51 | 1660974 TruthInSunshine
TruthInSunshine's picture


And that's how the game (ultimate Ponzi that are not only broken, but criminally rigged ,markets) is played.

Mon, 09/12/2011 - 16:48 | 1661055 hambone
hambone's picture

Poor, poor ZH trying to bring logic to a worldwide bullshit party.  Poor, poor truth buried under mounds of feces.

Best defense is a good offense...time to start just making up shit to counter the bullshit being spewed...oh wait, I guess that's what CNBC, Faux News, etc. are for.


Mon, 09/12/2011 - 17:32 | 1661451 Ghordius
Ghordius's picture

"We don't understand what Europe is"

There you have it. CNBC, Faux News, some ZeroHeads, most commentators,

all befuddled by the "EuroArchitecture".

Italy, watch out, the Japanese reacted very, very badly to the first Chinese attempts to buy in style some sovereign bonds. Why?

Mon, 09/12/2011 - 17:32 | 1661455 spiral_eyes
spiral_eyes's picture

China are entitled to hang onto their money and let asset prices depreciate further to get more bang for their buck. But some signs suggest they will act. The more Europe and America deteriorate, the weaker the demand for Chinese goods.  And China’s massive FX holdings’ value is dependent on the system of international trade and the economies of various Western nations retaining functionality.

Of course, China stepping in to buy shoddy debt isn’t going to offer any  solutions to underlying problems. At best it will kick the can do the road awhile, as Europe muddles around and continues to fail to come to any kind of meaningful or coherent agreement on its future.

What a fucking mess.


Tue, 09/13/2011 - 00:56 | 1662641 Migrated Bird
Migrated Bird's picture

Amen my brother!!.. China is just a richer version of warren buffett.. It is in their best interests to see that europe and eurozone does not crash.

Mon, 09/12/2011 - 15:46 | 1660944 Waffen
Waffen's picture

I lol'd.

Mon, 09/12/2011 - 15:48 | 1660954 jbc77
jbc77's picture

Seems to be ramping the market though, guess in the eyes of the asshole central bankers, today is a mild success. How this saves Europe from insolvency is beyond me. Truth be told, not too many humans left in the market to really care anymore. Half of us gave up and the other half is now buying physical gold and silver everymonth. Making moves to insulate one' self from central bank disasters is the new en vogue thing to do. Carry as little debt as possible, store your savings in real metals and stay away from the stock market.

Mon, 09/12/2011 - 16:52 | 1661302 scatterbrains
scatterbrains's picture

Mr market says there is a better chance of earning .10 cents on my dollar with this bullishshit news.

keeping it real though, folks should fear losing .90 cents on the dollar... I guess any chance at making that dime is blinding.

Mon, 09/12/2011 - 15:48 | 1660957 JohnG
JohnG's picture

S&P green, SPY flipping around like a dying bug......whhat a fucking farce, blatant, damn.

Mon, 09/12/2011 - 15:49 | 1660963 JohnG
JohnG's picture

DOW green, what a shitshow.

Mon, 09/12/2011 - 15:50 | 1660969 JohnG
JohnG's picture

oops, dow red......lol

Mon, 09/12/2011 - 15:53 | 1660995 JohnG
JohnG's picture

green again, everything, must.close.green!!

Mon, 09/12/2011 - 15:54 | 1660998 JohnG
JohnG's picture

yep, gonna close on highs, lol, hhahah, fuck.

Mon, 09/12/2011 - 15:57 | 1661018 caerus
caerus's picture

options expiry week...should be fun

Mon, 09/12/2011 - 15:59 | 1661028 JohnG
JohnG's picture

Yeah.......always crazy, all the time.  Market needs a shrink.

Mon, 09/12/2011 - 16:02 | 1661046 JohnG
JohnG's picture

Kim did a dance,

Peels dress off,

get green at 4!

Mon, 09/12/2011 - 15:58 | 1661019 JohnG
JohnG's picture
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Mon, 09/12/2011 - 15:49 | 1660960 Fips_OnTheSpot
Fips_OnTheSpot's picture

but ECB *is* buying italian bonds

Mon, 09/12/2011 - 16:04 | 1661060 DaBernank
DaBernank's picture

The ECB is not buying the €400 billion in Italian bonds that the chinese think they should in order to "commit fully" to this European thing they do not understand.

Print, baby, print.

Mon, 09/12/2011 - 15:49 | 1660962 John McCloy
John McCloy's picture

This is our stock market..timely rumors...promises of more ponzi and bailouts and they wonder they the economic structures of all our countries are poisoned. People should be running full steam away from these markets instead of trying to snag a few dollars chasing the next rumor that causes a 100 point swing. 

Mon, 09/12/2011 - 16:03 | 1661058 Lord Welligton
Lord Welligton's picture

"People should be running full steam away from these markets instead of trying to snag a few dollars chasing the next rumor that causes a 100 point swing."

I think the people have.

The machines and the psychos are running the show.

I know I'm preaching to the converted but stock markets no longer exist as a mechanism for the efficient allocation of capital through price discovery.

Sorry had to get that off my chest.

Mon, 09/12/2011 - 16:44 | 1661273 reload
reload's picture

And good old fashioned capital formation has been replaced by CB printing. I was talking to the head of debt restructuring at a UK TBTF over the weekend, who was lamenting the total lack of equity funding for SME (I.E Nobody wants to take bank held debt in medium sized enterprises and have it swapped for Euity - so the bank struggles to shrink its ballance sheet) This very bright and extremely well paid banker, did not get close to admitting to understand that capital formation and price discovery can not happen in a market that has its price perameters set as policy objectives by governments and central bankers.

Mon, 09/12/2011 - 16:45 | 1661280 DefiantSurf
DefiantSurf's picture

some simply cannot see the forest for the trees

Mon, 09/12/2011 - 18:19 | 1661607 Lord Welligton
Lord Welligton's picture

“And good old fashioned capital formation has been replaced by CB printing.” That pretty much sums it up. I think your “friend” was being disingenuous. If a friend he/she was. He/She knows exactly the Central Banks in the West must create “money”. He/She knows that “money” is not capital. Nevermind the formation of it. Capital is formed by human effort and trust. Bank profits (and a bonus is profit) are formed by the lies and deceit of psychopaths. The reason we “Citizens” of the West are in the place we are is that for a few beads we have allowed psychopaths steal our will. I fear the future. Democracy will have been found out as a career path for Psychopaths. What will replace it? A Republic. Yes. If you can keep it.

Mon, 09/12/2011 - 15:51 | 1660965 Everybodys All ...
Everybodys All American's picture

Wall St. is a criminal organization ... capesh.  Don't put it past Bernanke and Co. to be placing these rumors out there as well.

Mon, 09/12/2011 - 15:49 | 1660966 TruthInSunshine
TruthInSunshine's picture

***Updated Correction: Financial Times***

The Financial Times has reported that there were unidentified Italian officials who had claimed that "those-a Chinese, they-a wanna a buya our bonds and stocks and every-a-ting-a." We wish to emphasize that this report was filed based on anonymous tips placed by untraceable cellular phones from men with very thick Italian accents claiming that our reporters should "just-a trust-a us, capeche?"


Mon, 09/12/2011 - 16:00 | 1661031 caerus
caerus's picture

that's f'n hilarious

Mon, 09/12/2011 - 16:12 | 1661129 orangedrinkandchips
orangedrinkandchips's picture

Funny, but you forgot "IM GOING TO MAKE YOU A DEAL YOU CANT REFUSE".....



Mon, 09/12/2011 - 17:12 | 1661373 Dr. Eldon Tyrell
Dr. Eldon Tyrell's picture

Why you looka so sad...it'sa notso bad...itsa nice place...AHH SHADDAP YOU FACE!





Mon, 09/12/2011 - 15:51 | 1660976 Stochdoc
Stochdoc's picture

Nothing to see here.  Move along....

Mon, 09/12/2011 - 15:51 | 1660978 RobotTrader
RobotTrader's picture

The fact that everyone is denying buying European soveriegn debt means that somebody big is about to buy.

Heh, 80% yields on Greek notes is too irresistable to China, Japan, Taiwan, etc. when they are getting zero interest on short term Uncle Gorilla notes.

Mon, 09/12/2011 - 15:59 | 1661027 BorisTheBlade
BorisTheBlade's picture

Heh, 80% yields on Greek notes is too irresistable to China, Japan, Taiwan, etc. when they are getting zero interest on short term Uncle Gorilla notes.

You have a choice to either buy their bonds and prolong insolvency or wait for some time and buy the whole country when it defaults, which one is better?

Mon, 09/12/2011 - 16:10 | 1661111 Lord Welligton
Lord Welligton's picture

That is the first sensible thing I think you have said.

Allow me elaborate.

They make a long term side deal with the Greeks.

A port.

Or a short term deal.

NATO secrets.

Buy at a discount of 50%.

Even if the haircut is 25% they're still going to do a lot better than Benny Bucks.

Mon, 09/12/2011 - 18:56 | 1661712 Freewheelin Franklin
Freewheelin Franklin's picture

They make a long term side deal with the Greeks.


Why not go all in? A military base; private airfield; the first born of...

Maybe if they try hard enough, they can get the Greeks to hand over Carla Bruni on her next visit there.


Mon, 09/12/2011 - 15:51 | 1660979 scatterbrains
scatterbrains's picture

watching them buying utilities..  like drifting towards the edge of niagra falls,  jumping out of an inner tube into a canoe for safety.

Mon, 09/12/2011 - 16:37 | 1660982 Flakmeister
Flakmeister's picture

Tyler, you are always confusing people with details... you really should learn to stick to the script

Mon, 09/12/2011 - 15:52 | 1660984 HD
HD's picture

Damn. The one day I forgot to wear my hip waders...

Mon, 09/12/2011 - 15:52 | 1660988 Belarus
Belarus's picture

I think this is algo's gone wild. It started first thing this morning. Market wanted to freefall but as it was the market suddenly got pinned on at -1.07% and seriously didn't budge for what like seemed forever...then ramped higher when it finally did.

This was a computer day all the fucking way. 

Mon, 09/12/2011 - 15:57 | 1661016 Ryman1075
Ryman1075's picture

I was watching the same thing...S&P kept bouncing off 1141 and dow kept bounding off of 10867.  Every time they dropped below, one click later and they were right back at the same spot...

Today shows how rigged the casino is and how diconnected from reality the markets are.

Mon, 09/12/2011 - 15:52 | 1660990 Smithovsky
Smithovsky's picture

Why are PMs being sold off?  

Mon, 09/12/2011 - 15:55 | 1661006 Fips_OnTheSpot
Fips_OnTheSpot's picture

My thought - the "concerned" are going from ETF to physical. But you wont notice that on the paper-based (~99%) chart.

At least until ZH will publish some more about real-bullion-tradings.

Mon, 09/12/2011 - 15:56 | 1661010 tmosley
tmosley's picture

Because I willed it so, so that I can buy more.

Wait until you see the next round of volatility, with the downward bias.  Paper may trade sub $1200, and sub $20, but physical will be hard to find.  REALLY hard.  That's when it hits the fan.

Mon, 09/12/2011 - 16:04 | 1661064 Fips_OnTheSpot
Fips_OnTheSpot's picture

Yep - try to buy physical. Difficult.

Tue, 09/13/2011 - 02:24 | 1662681 Smithovsky
Smithovsky's picture

Physical as in coins or BullionVault or what?  I agree that coins are hard to get and have been hard to get for a while now, but that's not really a good proxy for physical, that's chump change.  The BullionVault version of physical is in line with the COMEX future.  Sprott PHYS premium is only 4%.  But most importantly, you can take delivery of physical when your COMEX future expires, which means that COMEX price is THE physical price (until, of course, the moment EVERYONE tries to redeem it - then not so much).  So, where do you see that paper and physical are diverging?  

Mon, 09/12/2011 - 16:02 | 1661052 Solid Gold Bubble
Solid Gold Bubble's picture

They aren't. It's just Blythe selling imaginary pieces of paper that correspond to silver she doesn't have and doesn't exist. The spot price has zero connection to physical supply/demand.

Mon, 09/12/2011 - 16:07 | 1661086 Piranhanoia
Piranhanoia's picture

because scared people sell paper metal to suppress the price.

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