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Risk Off As Greek Chaos Returns
With the Greeks unable to hug it out and new elections (as per Venizelos and Kammenos) all but guaranteed, the probability that Greece will exit just went to 11 on the dial. Markets hiccupped and plunged, giving up all the German GDP gains and then some. EURUSD traded back below 1.2800 - trading 1.2780 as we post, S&P 500 e-mini futures dumped 13 points now below yesterday's lows, Europe's DAX took a dive, and all European sovereign bond spreads tore higher dominated by Portugal, Spain, and Italy (+38-48bps on the week now). Credit spreads are gapping wider in Europe and the US. Commodities, which had been limping a little higher - on weaker USD and growth-hopiness we suppose - have reversed those gains with Silver and Oil underperforming. Treasuries and Bunds in lockstep and notably lower in yield - to lows of day.
EURUSD Plunge...
and ES is making new cycle lows...
and Sovereign spreads surging...
Charts: Bloomberg
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I thought a Greek exit was priced in?
It is.
b e i n g...
It's not
Some people are pricing it in.. have been.. and more by the day..
DEFAULT< DEFAULT< DEFAULT<
p r i c e d
Yes, WTF happened to the $430 million payment that Greece was supposed to make to a HF today -----causing a default????
Game, set match!
Juncker is quoted as saying greece is gonna get leeway on the budget
Compromise and can kicking will resume shortly
I am buying broad indices. I believe europe will back down on greece
Good luck with that. You might be a little early, but these days, who can tell?
i n
And gold and silver took another dump.....go figure
a s
"Now that's a dump a man would be proud of."
Butchie Yost
http://en.wikipedia.org/wiki/John_from_Cincinnati
i
Nurse Rachet.......please bring a shot of Thorazine STAT!
hey cd i havne't seen a post by you in a while. bonzai on the other hand...is in top form. the man gets better by the day and he is PROLIFIC.
i hope you're well.
z
No matter what happens, Silver always tanks.
Sure seems that way doesn't it? Have no fear though, Max is leading a rally of the Silver Liberation Army.
Silver.
The other Ponzi poison.
Still feels like a market run by super computers programmed by a few large global banking instutitions.
Good! Let's get this fucked up show on the road!
Yes! Fuck the Fraudsters!
Kaaaabooooooooooom!
Its not all risk off...
Facebook’s (FB) decision to raise the expected price for its initial public offering this week to $34-38 from $28-$35 has spurred interest this morning in the handful of publicly traded funds and investment companies that own the stock.
The light at the end of the tunnel is a freight train to mow you down
How many times can they play this game before people finally throw in the towel and say fuck it?
Until there are no more greater fools.
Thankfully (for the Ponzi men) many greater fools return for more rump reaming after a brief recovery period.
For pete's sake, doesn't anyone read the papers anymore?!
Europe Dodges Recession
It's all good, what the f*ck are you all bellyaching about?
Everyone's stupid except me....
hahaha...I think I'll have that on my grave stone, "Everyone is stupid but me."
Not bad.
Gives me an idea for husband-and-wife tombstones that both say "I'm with stupid." With arrows.
Better call Kenny Loggins 'cause we're in the danger zone.
Khaos in Laos Bitcheeez!
p.s. I hope they won't forget to put a finishline marker on the ES.
Ok, that's it. BOOT THEM OUT NOW!!!
I have a local shop that sells at spot. Thinking about picking up a few more stacks.
Is "thread hijacking" a crime?
Must be whale watching season.
Really. Maybe most of the 900 signed up like me and then never touched the crap again but couldn't figure out how to cancel their membership you fools.
3/4s of the membership is not active. Now run your numbers you GS prick MF'ers.
(talking about CNBC here)
What is facebook, anyway? Was is based on that movie?
Great point. I tried it for marketing and got zero. But maybe I didn't do it long enough . . .
-30-
greece will never be free under the euro-bankster regime.
I suspect Greece has the EU gripped firmly by the balls. They will have to do what ever is needed to keep them in the EU now. It sets the stage for the rest of the PIIGS..Germany is screwed...
Timmy always wanted a "strong dollar."
Looks like he's going to get one.
So is the Euro worth more or less without Greece?
When will the other pigs get a half trillion then 6 months later leave the euro?
Austerity? For who, us? F- it we outta here. Can we have our gold back please.
How much longer must they let this game play out?
Sever the ties and call it a day.
Spain's floater not going to flush as there is no water left in the toilet.
Looks like it's time to pee in the toilet tank.
Everyone on three.
One.....Two......
Yesterday was extremely important in my view, because if the Wall Street-Washington crowd really had things under control, the markets would have rallied nicely.
The control freaks have lost their grip because the true market fundamental that can never be defeated - deflation - is devouring everything in its path - stocks, gold, silver, oil, beef, wheat, you name it, it's all going lower and this time they can't stop it.
It's too late in the game. The CBs tried and failed. We are at the beginning of the end game, especially for the Euro, but for the global economy.
All the fancy games played by the Fed and EU leaders are failing in massive fashion. Get short or get out. Best to be on the sidelines here sipping Mai Tais and munching hors d'oevres while the world crashes into the depths of the Second great Depression (which, incidentally, began in 2008).
Enjoy the show. It should be a spectacular jubilee. Free houses for everyone (except banksters and politicians).
Great points.
I've always enjoyed the way they just can't bring themselves to call it the Second Great Depression - even though that is exactly what it is. The Great Recession allows them to write history without being the ones who sunk the ship.
-30-
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/5/15_Who_Is_Crashing_The_System.html
I think he may be onto something large here.
So Greeks to go back to the ballot box eh?
It’s a straightforward play.
PASOK/ND will campaign on a platform of this now being a vote on exit from the Euro - and probably pick up some money on the QT from various interested parties in Europe to help fully fund the PR campaign (don’t tell me it’s illegal and therefore doesn’t happen per-lease).
They will be fully backed up by a number of elected and non-elected European politicians making lots of public noise for the Greek newspapers that if they don’t vote the right way this time they will be leaving the Euro and facing total ruin and disaster and all their children will die within six weeks and there will be a great pestilence on the land, etc.
The Greek electorate will be bombarded with this PR in the period leading up to the next round of voting and they don’t stand a chance. Not a hope. There will probably also be some dirty tricks on the main threats to the desired outcome too. Maybe a couple of harmless bombs will also go off that will be somehow linked back to anti-bailout parties and lots of noise about them causing violence and civil war if they win.
It’s all so pathetically predictable.
PASOK/ND will pick up just enough votes to form a majority of a small handful and it’s back to business as usual. Boom, boom (or should that be bust, bust?).
Don’tcha just love democracy? It’s so easily subverted.
p.s. You can buy 10yr Greek bonds today for less than 15. Yield now 29.7% - fill yer boots.
By knowing what happened in indebted Greece, where loan sharks created “bubbles” and the current inhuman debt, one can understand the inhuman plan in total ...understand where this plan started just to bring all states at the same end ...understand how this type of plans are established...
http://eamb-ydrohoos.blogspot.com/2012/01/global-debt-crisis.html
Global Debt Crisis
The greatest private fraud of human history.
Who are the great fraudsters who are becoming the murderers of the human kind? How does the economy "illness" threaten Democracy and the freedom of people?
Authored by PANAGIOTIS TRAIANOU
What ever happened to that massive 400 billion euro payment that Greece was supposed to come up with today?
Sure glad we have all this good news coming at us today. The DOW is presently up a thundering .03%, birds are singing, and a goddamned deer just got into the garden and I gotta go chase her out without her killing herself on the fence - deer get panicked and can kill themselves trying to break through the fence when they are some 50 feet from the open gate (my bad) - sort of like hedge fund managers, come to think of it. But I gotta go...