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Rumor Meet News: S&P To Put All 17 Euro Nations On Downgrade Watch

Tyler Durden's picture




 

Just as we noted earlier from the leak to the FT, Bloomberg is now reporting further that

S&P Said to Place All 17 Euro Nations on Rating Downgrade Watch

The AAA aspect is probably the most critical still and the differentiation between Austria and France and the rest of the AAA European sovereigns has been plain to see for a while but the major direct impact of this move will be on EFSF bonds (and the entire support structure) which managed to rally back from just over 200bps to 148bps close today.

EFSF spread to Bunds remains 35bps higher than immediately post the EU Summit.

Charts: Bloomberg

 

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Mon, 12/05/2011 - 16:10 | 1947896 greased up deaf guy
greased up deaf guy's picture

nobody could have seen this coming.  i'm shocked.  SHOCKED.  lol

Mon, 12/05/2011 - 16:10 | 1947910 Pladizow
Pladizow's picture

Sha na na na na......

Mon, 12/05/2011 - 16:19 | 1947959 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Aaannnd, third leg down underway, look for the move to go under even for the day, slight dead bounce to finish even at the close.  Your Algo Market at work, ladies and gentlemen.

Mon, 12/05/2011 - 16:20 | 1947967 CClarity
CClarity's picture

And gold is down why?  Liquidating to cover what?

Mon, 12/05/2011 - 16:22 | 1947973 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Central Banks leased gold to free up their asset sheets, then they leverage the cash 10 to 1 to create liquidity. 

Leasing gold quells demand, dropping the price.

Mon, 12/05/2011 - 16:23 | 1947986 Chris Jusset
Chris Jusset's picture

KABOOM!

Mon, 12/05/2011 - 16:24 | 1947992 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Today was the easiest trading day of the year.  Drinks on me.

Mon, 12/05/2011 - 16:27 | 1948008 CClarity
CClarity's picture

Thank you and congrats!

Mon, 12/05/2011 - 16:38 | 1948058 distopiandreamboy
distopiandreamboy's picture

It seems at least 2 people are recovering alcoholics.

Mon, 12/05/2011 - 16:41 | 1948068 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Just like love, once is forever

Mon, 12/05/2011 - 16:51 | 1948118 WonderDawg
WonderDawg's picture

More than two in here. I'll have nice cup of Columbian java and strike a match.

Mon, 12/05/2011 - 17:02 | 1948188 JohnG
JohnG's picture

Why "recover??"

Mon, 12/05/2011 - 17:45 | 1948379 youngman
youngman's picture

Rehab is for quitters...

Mon, 12/05/2011 - 17:52 | 1948422 WonderDawg
WonderDawg's picture

If your choices are recover or die, which mine were, recovery seems like a good choice.

Mon, 12/05/2011 - 18:36 | 1948599 knukles
knukles's picture

...sometimes quickly, sometimes slowly, but they always materialize if we work for them...

Mon, 12/05/2011 - 22:56 | 1949484 WonderDawg
WonderDawg's picture

Amen, brother.

Mon, 12/05/2011 - 21:25 | 1949171 Hulk
Hulk's picture

Welcome back!

Mon, 12/05/2011 - 22:58 | 1949493 WonderDawg
WonderDawg's picture

Thanks, Hulk. It's been a while now, but the memories are still fresh. A clear mind is going to come in handy in the days ahead.

Mon, 12/05/2011 - 16:47 | 1948092 billhilly
billhilly's picture

Glad for you !

My fresh shorts, MS and FMCN are trading near their highs, shit !  WTF. All red today for me.

Speaking of which, my ex-wife's maiden name was Allred.  Ah, ghosts of losing trades' past.  Such is life.

Mon, 12/05/2011 - 16:50 | 1948108 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

So the part of the trade that I outlined that doesn't work is shorting financials because they are the one's shorting gold on the way down.  They know the trade too. 

But they will get crushed from here on down to Dow 11,500 so I would load up here if I were you.

Mon, 12/05/2011 - 16:39 | 1948060 Nothing To See Here
Nothing To See Here's picture

@Hendrix, perhaps I'm slow today but I fail to see any rationale for BORROWING gold... seems like kind of a paradox....

Mon, 12/05/2011 - 16:45 | 1948081 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

The Fed has 14k tonnes on their books on loan from the Treasurie (8k tonnes of which is being held as custodian of Germany).  The Fed is allowed to do what they want with this digital gold (the gold which is suppossedly held in Knox and other US Military forts). 

Back in the '60's, to quell the rising demand of gold, the US sold it outright on the open market.  They did this in cordination with the IMF and Britain.  By the early '70's they realized that they were selling all of their gold.  So they closed the gold window, and stopped selling it.  But this had an impact on price; as demand shot up, price followed.  So then they began to lease gold.

They told countries such as China, "Hey, if you buy our paper, we will lease you gold."  China thought, "Well, that will hedge our paper positions, so we will go along with it."  So now when the Treasurie calls China and asks for them to buy paper, China calls the Fed and asks how much gold they can lease to hedge for inflation of paper assets.

Mon, 12/05/2011 - 18:33 | 1948588 LooseLee
LooseLee's picture

But the Fed cannot prove that this Gold exists and resists any congressional mandate to audit...Would you resist any madate to prove you actually had sex with any babe?

Mon, 12/05/2011 - 16:25 | 1947994 tbone654
tbone654's picture

convert to cash... stuff your matress...  remember M/F Global...  cash is king...

Mon, 12/05/2011 - 16:30 | 1948023 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Paper burns and your house is on fire.

Mon, 12/05/2011 - 17:06 | 1948210 Long-John-Silver
Long-John-Silver's picture

Fiat Paper contains 12.44 BTU so it's never worth nothing until you convert them to heat.

Mon, 12/05/2011 - 18:30 | 1948570 LooseLee
LooseLee's picture

Gold is down because fools have to cover losing paper investments.

Mon, 12/05/2011 - 19:26 | 1948783 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Gold was down before equitie was

Mon, 12/05/2011 - 16:44 | 1948078 Max Fischer
Max Fischer's picture

 

 

If silver can't catch a bid even after all 17 Euro nations get threatened with a downgrade and with the viability of the euro front and center, then it's probably time to get out. 

Silver was the BIGGEST joke of 2011.  There's only ONE person who made money on silver this year: Eric Sprott, and that's only because he spent a good portion of the year pumping his funds with hyperbolic nonsense, and then dumping millions of his shares into the subsequent hysteria. 

Plus, remember Buy physical, crash JP Morgue? ....what a joke!  Silver is doing EXACTLY what it did the last time it went parabolic in the late 70's and early 80's:  it's slowly grinding back to reality.

Max Fischer, Civis Mundi

Mon, 12/05/2011 - 16:48 | 1948087 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

I made money, and JPM is down 16% year to date. 

WinningDuh!

Mon, 12/05/2011 - 16:47 | 1948090 GeneMarchbanks
GeneMarchbanks's picture

You've convinced me, I just sold and bought Bernanke bux. Thanks.

Mon, 12/05/2011 - 16:50 | 1948101 taraxias
taraxias's picture

I had you on downgrade watch but your downgrade to fucknut is imminent if you keep posting rubbish like this. Just a heads up.

Mon, 12/05/2011 - 16:51 | 1948116 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Egan-Jones has him at junk

Mon, 12/05/2011 - 19:47 | 1948841 TheFourthStooge-ing
TheFourthStooge-ing's picture

Ratings from taraxias and Egan-Jones have proven far more reliable than those from S&P, Fitch, and Moody's.

 

Mon, 12/05/2011 - 16:59 | 1948176 Jonas Parker
Jonas Parker's picture

Sorry Max. I made out pretty good on silver this year. Better luck next time...

Mon, 12/05/2011 - 17:11 | 1948219 Max Fischer
Max Fischer's picture

 

 

Well, silver began the year at ~$30.  Currently, it's under $32.  If you consider the huge, ripoff margins between wholesale and retail, you're definitely underwater.

Or, you could have been trading paper silver, which is the EXACT OPPOSITE of what the doomer lemmings say to do. And you certainly weren't following the advice of Turd Ferguson.  He totally missed the summer run (in fact, he advised to stay out of it), and failed to predict both the collapses in April and September.  You would have had better luck with a dart board.    

You should have just done your patriotic duty and bought a 30Y bond.  No risk.  No volatility.  No need to dig holes in the woods, and its got a 40 year trend of insatiable demand and proven safety.

Max Fischer, Civis Mundi

Tue, 12/06/2011 - 02:52 | 1950038 jeff montanye
jeff montanye's picture

thirty year bull trend: 1981 to 2011 (really the bottom yield/top price of december 2008 still holds at 2.53% on the thirty year).   the prior ten years, 1971 to 1981 were the last decade in a thirty year bear market taking yields from around current levels to 16% in the fall of '81, comprising the worst price declines, not to mention losses from inflation, in the history of the u.s. treasury market.  

however your greater mistake is the wildly wrong claim of no risk, no volatility.  the full coupon thirty year treasury, and even more its zero coupon relations, are highly volatile investments with price changes of twenty or thirty percent in a few weeks or months commonplace:  http://futures.tradingcharts.com/historical/TR/2011/0/continuous.html

Mon, 12/05/2011 - 17:02 | 1948187 antidisestablis...
antidisestablishmentarianismishness's picture

"Plus, remember Buy physical, crash JP Morgue? ....what a joke!"

Yeah, whoever came up with that concept was a genius.  He could make a killing as a lemming bait salesman.

Mon, 12/05/2011 - 18:12 | 1948496 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

I've never baited a lemming because lemmings don't know what real monie looks like.

Mon, 12/05/2011 - 17:05 | 1948201 JohnG
JohnG's picture

Then explain my 102% gain from November '10to April '11?

Fuckwad.

Mon, 12/05/2011 - 17:23 | 1948266 Max Fischer
Max Fischer's picture

 

 

Who cares.  It collapsed into a pile of burning rubble afterwards.

For the year, it's only up a buck or two.

You should have bought teen retailers.

Max Fischer, Civis Mundi

Mon, 12/05/2011 - 17:06 | 1948203 tmosley
tmosley's picture

Yeah, and short Bernie Madoff was the BIGGEST joke of 2008.

Also note that I, and everyone else who owned silver a year ago, is up 8% in Bernanke Bux.  Gold did better, returning 21%.  But the current price only matters if you are buying or selling.  As the thesis of most silverbugs is to hold silver through a dollar collapse, they aren't selling now, and the low prices only enable them to buy more metal.

And I guess you missed the part where JPMorgan is down 17% in the same time period.

Tue, 12/06/2011 - 03:02 | 1950054 jeff montanye
jeff montanye's picture

one might also refer to http://www.gold-speculator.com/editors-picks/5010-600-year-chart-silver.... for broad historical purposes or http://www.oilngold.com/analysis/research/gold-a-gold-stocks-during-peri... for a comparison of the price action of (gold) miners during the last deflationary depression (with a far less inflationary set of global central bankers).   

Mon, 12/05/2011 - 17:28 | 1948260 Ku
Ku's picture


Silver is doing EXACTLY what it did the last time it went parabolic in the late 70's and early 80's:

So you think the tops in for silver for the next decade or so? is that what u mean. HAHAHAHAHAHAHAHAHAH

today was thinking 32.20 to buy silver, riskd dwn and went for SLW calls instead

Mon, 12/05/2011 - 17:24 | 1948269 ZeroPower
ZeroPower's picture

Youre right for the most part. Ive been advocating strongly against any new positions in silver since last April when it was clear it was heading parabolic and into a crash. What i cant comprehend is why people expect another new parabolic rise out of silver so short after the last when. Forget the ones that can't read a chart, just consider:

  • The only people bullish on silver are PMs who have silver to sell you
  • If you want an inflation hedge, you buy gold
  • The chart
  • Silver supplies: while there are many 'pros' out there who say supplies are on the decline, i can find just as many charts or statistics that speak of stale silver inventories. Why invest in something with so much noise

 

 

Mon, 12/05/2011 - 18:35 | 1948595 LooseLee
LooseLee's picture

OK, so short the SLV (while maintaing a sufficient portion of physical in your possession)...

Mon, 12/05/2011 - 18:39 | 1948619 knukles
knukles's picture

...or make that into a nice paired trade with a PSLV long.
Delivery bitchez...

Mon, 12/05/2011 - 16:16 | 1947940 Hansel
Hansel's picture

SHOCKED!

Mon, 12/05/2011 - 16:25 | 1947972 The Big Ching-aso
The Big Ching-aso's picture

 

S&P needs to pull its collective ass out of its head (sic).  Why don't they just downgrade the entire world instead of this penny-ante country by country bullshit.  Where were these nimrods before all this global-wide derivative inspired crap hit?    

Nothing like being armchair quarterbacks after the fucking game is already over. 

Mon, 12/05/2011 - 16:27 | 1947996 HedgeAccordingly
HedgeAccordingly's picture

Look at this CHURN for stops before the S&P headline hit.. - shady - https://bitly.com/rrplmK

Mon, 12/05/2011 - 16:18 | 1947957 BorisTheBlade
BorisTheBlade's picture

17 nations on the downgrade list? so fucking what? reality is an illusion caused by the lack of liquidity in the system. ben shalom, pour us another tranche of QE, we're getting thursty.

Mon, 12/05/2011 - 16:22 | 1947979 oogs66
oogs66's picture

Isn't that an upgrade for about half of them?

Mon, 12/05/2011 - 16:50 | 1948107 BorisTheBlade
BorisTheBlade's picture

it can't be the exact half, since it's not an even number, so it's 'about' meaning 8 or 9. if you are an optimist, you'd say for 8, pessimist - 9, realist - doesn't matter, probably all of them.

Tue, 12/06/2011 - 03:06 | 1950057 jeff montanye
jeff montanye's picture

not, not, not lack of liquidity.  insolvency.  http://www.hussmanfunds.com/wmc/wmc111205.htm

Mon, 12/05/2011 - 16:23 | 1947985 tbone654
tbone654's picture

December 17 ...  prelude

Mon, 12/05/2011 - 16:30 | 1948018 vast-dom
vast-dom's picture

yeah i called this in my earlier today post = entire eurozone = bullish¿¿¿¿¿¿¿¿¿¿¿¿¿¿¿¿¿it!!!!!!!!!!

Mon, 12/05/2011 - 16:49 | 1948098 Chupacabra-322
Chupacabra-322's picture

Still don't belive we're not living in a modern day Scientific Techoncrat Fascist Dictatorship spend five minuites watching this. 

UNITED STATES is a Corporation - There are Two Constitutions - Sovereignty

http://www.youtube.com/watch?v=lVsMUpPgdT0

Mon, 12/05/2011 - 17:07 | 1948211 Spooky Polish
Spooky Polish's picture

nobody expects a spanish inquisition ! 

 

http://www.youtube.com/watch?v=Tym0MObFpTI

Mon, 12/05/2011 - 16:09 | 1947901 Vincent Vega
Vincent Vega's picture

Expecting 5 but got 17. How many standard deviations is that?

Mon, 12/05/2011 - 16:10 | 1947902 baby_BLYTHE
baby_BLYTHE's picture

Any job in a privately owned currency system is equivalent to Slavery. We must Finish the Job started by JFK to End the Federal Express..... I mean Federal Reserve System..... Until then, I say take your Just Over Broke (JOB) and shove it you know where. For those who still believe in Voting, Ron Paul is the Only choice. Good Luck.

Mon, 12/05/2011 - 16:17 | 1947945 SilverIsKing
SilverIsKing's picture

"For those who still believe in Voting, Ron Paul is the Only choice"

Well said.

To all Paul supporters: Convert someone today!

Mon, 12/05/2011 - 16:26 | 1947998 GeneMarchbanks
GeneMarchbanks's picture

You can't. Some people are just born that way...

Mon, 12/05/2011 - 18:41 | 1948624 LooseLee
LooseLee's picture

Many otherwise level-headed Americans are afraid of his Military/Defense position. They have been brainwashed by TPTB's position that the ME rejects our 'Freedom'. I ask, "What Freedom"? Moreover, the ME does not give a shit about our lifestyle, but our insistence on occupying their countries for their OIL.......let them live as they please and adjust our lifestyle to compensate for maybe not having access to all of their OIL...

Mon, 12/05/2011 - 16:34 | 1948041 pods
pods's picture

Agree that when your labor is priced in something controlled by other men, you are a slave.

Saw an interesting piece by G. Edward Griffin about how JFK was NOT trying to break the FED by EO 11110 though.  Makes sense.

http://www.freedomforceinternational.org/freedomcontent.cfm?fuseaction=jfkmyth

pods

Mon, 12/05/2011 - 16:52 | 1948125 baby_BLYTHE
baby_BLYTHE's picture

that is an excellent read, High recommend!

Mon, 12/05/2011 - 16:38 | 1948055 11b40
11b40's picture

 

http://www.youtube.com/watch?feature=player_embedded&v=M1lJd2eLG0M

Well worth the 3 minutes, if you have not already seen the latest Dylan Ratigan rant on the debt and the lack of political leadership (gonads).

Mon, 12/05/2011 - 16:09 | 1947903 Hedgetard55
Hedgetard55's picture

Waterfall, bitchez.

Mon, 12/05/2011 - 16:10 | 1947904 Black Forest
Black Forest's picture

Holy shit.

Mon, 12/05/2011 - 16:10 | 1947909 hugovanderbubble
hugovanderbubble's picture

EFSF fund is made of JUNK so wont ever be AAA....

ECB is collapsed

Central Banks are TOASTED

 

MAYANS TIME COMING

Mon, 12/05/2011 - 16:18 | 1947961 GeneMarchbanks
GeneMarchbanks's picture

'Twas all good and then you fucked up with:

'MAYANS TIME COMING'


Mon, 12/05/2011 - 16:25 | 1947993 willien1derland
willien1derland's picture

Mayan civilization has been downgraded by S&P - Timely as always!

Mon, 12/05/2011 - 16:26 | 1947997 Mesquite
Mesquite's picture

Anyone notice how the $CAC was topping..Few people knew...??

Mon, 12/05/2011 - 16:26 | 1947999 willien1derland
willien1derland's picture

Mayan civilization downgraded by S&P - Very timely...

Mon, 12/05/2011 - 16:34 | 1948027 hugovanderbubble
hugovanderbubble's picture

QATAR,

BAHREIN,

DUBAI...

= JUNK

DUBAI just Empty Real Estate - A Desert of Speculation - DUBAI WORLD CO: IS IN DEFAULT and every BRITISH TRADER KNOWS IT.

and Qatar just GAS and oil speculation...no one wants to live in a desert...

Mon, 12/05/2011 - 16:47 | 1948089 DonutBoy
DonutBoy's picture

No, you don't get it.  Despite the fact that none of the member states are AAA - the EFSF is because it is the combined risk of these uncorrelated constituents that matters.  There will be an EFSF AAA tranche, an EFSF AA tranche, and an EFSF high-yield tranche...

Mon, 12/05/2011 - 16:11 | 1947911 lolmao500
lolmao500's picture

When do they downgrade Japan, the UK and the US again?

Mon, 12/05/2011 - 16:23 | 1947988 earleflorida
earleflorida's picture

as soon as the 'bis' says so,... afterall they got the world in the mess were in now - all prize fighters love the upper-cut sucker shot

Mon, 12/05/2011 - 16:11 | 1947912 lizzy36
lizzy36's picture

I wonder if this will take us to Defcon 2 on our Getting Back to Even scale?

Mon, 12/05/2011 - 16:34 | 1948042 fuu
fuu's picture

Certainly starting to feel like ground 0.

Mon, 12/05/2011 - 16:11 | 1947913 taniquetil
taniquetil's picture

That does it. I'm calling it right now.

 

Bullish.

Mon, 12/05/2011 - 16:14 | 1947927 BlackSea
BlackSea's picture

For physical gold.

Mon, 12/05/2011 - 16:17 | 1947946 Hansel
Hansel's picture

BULLISH!

Mon, 12/05/2011 - 16:11 | 1947914 Aunty Christ
Aunty Christ's picture

why do I get this uneasy feeling that this "news" will fuel a rally in the AAA-lites, just like when the US was downgraded?

Mon, 12/05/2011 - 16:12 | 1947916 lizzy36
lizzy36's picture

LAST AAA in the world will be.........(hint home of the frozen and land of maple syrup....suck on it yanks)

Mon, 12/05/2011 - 16:13 | 1947920 BlackSea
BlackSea's picture

Mongolia? Vermont? The suspense is killing me...

Mon, 12/05/2011 - 16:17 | 1947952 Pool Shark
Pool Shark's picture

 

 

Vermont or Aunt Jemima?

 

Mon, 12/05/2011 - 16:22 | 1947978 Manthong
Mon, 12/05/2011 - 16:42 | 1948074 derkesthai
derkesthai's picture

Vermont?

I love Canada but won't suck on it. I do, however, wish more of it was like Quebec. Rick Mercer informed us yanks about the National Igloo which I didn't know about before. And thanks for letting the Irish vote. They deserve it.

Rick Mercer: Talking to Americans on Youtube

http://www.youtube.com/watch?v=FeNrgXZpeAw&feature=related

 

Mon, 12/05/2011 - 17:15 | 1948239 TruthInSunshine
TruthInSunshine's picture

Iceland will be the only AAA+ nation in about a year.

Mon, 12/05/2011 - 16:12 | 1947917 Josh Randall
Josh Randall's picture

No way Timmy and The Bernanke will stand for this, more money will be there to assist post haste!

Mon, 12/05/2011 - 16:16 | 1947939 Sudden Debt
Sudden Debt's picture

Is there a site where i can give them my account number for their deposits?
A cool trillion will do.... A billion to.... I won't even complain if it's just a million.

Mon, 12/05/2011 - 16:22 | 1947976 Hansel
Hansel's picture

I require $1 trillion+.  I am a man of discretion.

Mon, 12/05/2011 - 16:13 | 1947919 Sudden Debt
Sudden Debt's picture

KABOOM EUROCRATS!!!
hAHahahahaha!
Today some morons saw this green day as the recovery at work and went to their desks to go long on banks... After 20 warnings....
Morons....
Tomorrow they'll be fried!

Mon, 12/05/2011 - 16:17 | 1947951 Village Smithy
Village Smithy's picture

That's the incredible thing. Inspite of this taste of reality the markets were so ramped up overnight that they are for the moment at least, still in the green. Why, it's almost as if someone knew this was coming. Didn't Tyler suspect this in one of his earliest posts of today?

Mon, 12/05/2011 - 16:13 | 1947921 way-out-west
way-out-west's picture

I'm confused. Is this bullish?

Mon, 12/05/2011 - 16:14 | 1947928 Sudden Debt
Sudden Debt's picture

VERY!!
If you shorted about everything on the market :)

Mon, 12/05/2011 - 16:16 | 1947941 jonan
jonan's picture

your guess is as good as mine, i call manbearbullpig-ish???

Mon, 12/05/2011 - 16:27 | 1948006 earleflorida
earleflorida's picture

are you serial?

Mon, 12/05/2011 - 18:02 | 1948467 jonan
jonan's picture

i'm ssssuppper ssssserrrial!!!

Mon, 12/05/2011 - 16:17 | 1947948 wandstrasse
wandstrasse's picture

it is clear and simple: bearish is bullish, long is short, up is down. question answered? yes or yes?

Mon, 12/05/2011 - 16:19 | 1947964 Hansel
Hansel's picture

yes

Mon, 12/05/2011 - 20:16 | 1948919 TheFourthStooge-ing
TheFourthStooge-ing's picture

Saaaaaay, that is clear and simple...well, not clear, but it sure...hey, wait a minute...

 

Mon, 12/05/2011 - 16:13 | 1947923 wandstrasse
wandstrasse's picture

farce in full force

Mon, 12/05/2011 - 16:18 | 1947930 TruthInSunshine
TruthInSunshine's picture

While everyone was (understandably) focused on the capital devouring bacterium ravaging PIIGS, the U.K. with a 1000% debt to GDP ratio (officially; unofficially it's much higher) and the giant sucking chest wound of the most undercapitalized banks in the world in France (along with a nearly UK level debt in France) seemed to just miss the purview of the pundits, pontificators and prattlers on CNBS & Bloomturd.

"Nobody could have seen this coming."

-- Ben S. Bernanke testimony before the Senate, explaining why he unilaterally took unconsitutional measures using U.S. taxpayer monies, at a future hearing sometime in 2012

Mon, 12/05/2011 - 16:15 | 1947934 BlackSea
BlackSea's picture

Wait, I thought the new head of S&P came from Citi and that he was not supposed to pull things like this. Shocked, just shocked!

Mon, 12/05/2011 - 16:15 | 1947935 Matt1973
Matt1973's picture

And to that lady crying on the front of today's WSJ....FU, you fat cat scoialist !

Mon, 12/05/2011 - 16:15 | 1947936 Shizzmoney
Mon, 12/05/2011 - 16:15 | 1947937 PicassoInActions
PicassoInActions's picture

with all this news we are still positive for the day.

And euro is resilent. some1 is pumping big.

Mon, 12/05/2011 - 16:19 | 1947965 Sudden Debt
Sudden Debt's picture

If a flock of lemmings is running of the cliff... How do you stop them?
Can you stop them?
Do you want to stop them?
Let's do a recap of 2008, 1 week before the market crashed nose down.

Mon, 12/05/2011 - 16:16 | 1947938 Teddy Turner
Teddy Turner's picture

Most important video you will ever watch.

 

http://www.youtube.com/watch?v=eUsKrulPnTE

Mon, 12/05/2011 - 16:33 | 1948035 Worker Bee
Worker Bee's picture

bahahhahahahahahah! lololololoolloloolololololol,...bahahahahahahahahahahah! Its all clear now! *facepalm*

Mon, 12/05/2011 - 16:58 | 1948163 Teddy Turner
Teddy Turner's picture

Wow.  I remember what it was like to be ignorant.  I understand.

Mon, 12/05/2011 - 17:06 | 1948206 Sudden Debt
Sudden Debt's picture

It took lt 2 seconds to click it away :)
Did you know people actually pay for shit like that?

Mon, 12/05/2011 - 17:12 | 1948231 Teddy Turner
Teddy Turner's picture

I'm just trying to get people to think a little outside the box.  Watch it again sometime with an open mind.

Mon, 12/05/2011 - 16:16 | 1947942 bob_dabolina
bob_dabolina's picture

o/t

New Ron Paul ad...only posting because it's really funny

http://www.youtube.com/watch?feature=player_embedded&v=oxtT2SdZ8ZU

Mon, 12/05/2011 - 16:16 | 1947943 Everybodys All ...
Everybodys All American's picture

Tomorrow is likely to be blood red in Europe ... unless Timmay goes aawwwwweee in.

Mon, 12/05/2011 - 16:22 | 1947944 hugovanderbubble
hugovanderbubble's picture

Spain Riots, Strikes will be the biggest ever in history.

Italy the same

Belgium a chaos

French Banks super bankruns coming (yes yes, specially in Societe Generale and Credit Agricole) Who has helped GROUPAMA LAST WEEK? " CAMARA DE COMPENSACION FRANCESA" ....so its a kind of NATIONALIZATION IN FRENCH BANKING SYSTEM? what is SARKOZY TRYING TO HIDE THE REST OF THE WORLD: SARKO RESIGN, DSK knows everything and u have tried to manipulate everything with Christine Lagarde, (IMF).... DSK knows perfectly FRENCH SYSTEM is COLLAPSED.

DSK knows the truth¡

German Landesbanks Trapped in lies and hidden tricked accounting - Commerzbank gonna be nationalizated. 2nd Hyporealestate....Aareal bank toasted.

AND US....ure not exempted, ur MUNIBONDS WILL EXPLODE YES OR YES cos US IS IN DEFAULT and the USD WORTH NOTHING -------------in 2-3 years the USD will explode and in 1-2 the BOND BUBBLE WILL BURST all ur accounts

then IRAN WAR.... (MUSLIMS VS OCCIDENT) ------------------------------------>HYPERINFLATION -------------------------> Gold 3.000-5.000 or more....who cares about fiats....Keynesianism has ended . No more printing machines, he have run out of ink. we need to be backed by real hard assets commodities.

Welcome to III.WW. ILLUMINATI 3rd LETTER SHOW TIME ( Hugo Peterssen Madrid 5 th december 2011)

Mon, 12/05/2011 - 16:21 | 1947947 Peter K
Peter K's picture

S&P puts all 17 EZ countries on downgrade watch and all we got is a lousy 50pip break in the EUR/USD. Winning the Futures?

I tell ya, it just ain't fair:)

Mon, 12/05/2011 - 16:18 | 1947956 Hansel
Hansel's picture

SHOCKED BULLISH!

Mon, 12/05/2011 - 16:18 | 1947963 gatorengineer
gatorengineer's picture

This isnt necessarily Bearish...... May be spun into a December QE3 for the US.........  Gold is going the wrong way on the news....

Dont assume this highly manipulated market is logical, if it were we would be at 8,000 already, and 2500 an ounce....

 

Mon, 12/05/2011 - 16:31 | 1948029 OttoMBMP
OttoMBMP's picture

Just be grateful for the occasion to pick up some more.

Mon, 12/05/2011 - 16:37 | 1948053 SheepDog-One
SheepDog-One's picture

Some market force is out there preventing printfest...if they could have they would have by now.

Mon, 12/05/2011 - 16:54 | 1948135 Xanadu_doo
Xanadu_doo's picture

I'll say it again -- TPTB (politankers) need to play the HERO here, to rush in at the last second and SAVE US ALL like they always do.

Three Cheers for hopium!!

Therefore, we sheep need to feel some pain. We need to beg for a new wealth effect. Or said another way, a few eggs will get cracked first before they serve us up their grand debt omlette.

Mon, 12/05/2011 - 16:20 | 1947968 TheSheepWolf
TheSheepWolf's picture

Shouldn't we start our own rating agency?

Mon, 12/05/2011 - 16:27 | 1948005 wandstrasse
wandstrasse's picture

human language has not sufficiently ugly words for ZHers to rate any country or financial institution. but... trying would be fun...

Mon, 12/05/2011 - 16:41 | 1948071 tmosley
tmosley's picture

I think we can get Cecil on it:

http://www.youtube.com/watch?v=xXyhJB3zYNU

Mon, 12/05/2011 - 16:50 | 1948104 Bolweevil
Bolweevil's picture

Queasing

Kabukification

Ponzirific

Scroomed

Help me out here...

 

Mon, 12/05/2011 - 17:21 | 1948258 pods
pods's picture

Fucked?

Mon, 12/05/2011 - 16:38 | 1948056 Vincent Vega
Vincent Vega's picture

Great idea. We could simply have ratings of "good" or "bad" with accompanying green or red arrows to click.

Mon, 12/05/2011 - 16:20 | 1947970 sabra1
sabra1's picture

c'mon, this is in the script! the oldidorks have the best scientists, economists, etc., working for them! we're all part of the play, until the final act, which has already been written! WAKE UP PEOPLE!!!!

Mon, 12/05/2011 - 16:23 | 1947982 chump666
chump666's picture

thats it sell.  no print job just yet until the market sinks 20%.  that an oil has to at least lose 30.  

Mon, 12/05/2011 - 16:53 | 1948129 Stax Edwards
Stax Edwards's picture

Oil not a problem yet.  Brent has not surged, WTI spread has collapsed. Brent is better benchmark of gas prices in US. We like to refine the light sweet.

Mon, 12/05/2011 - 16:57 | 1948157 chump666
chump666's picture

yo stax you might want tell the US creditor that...china.  their break point is 95 re inflation.  remember they are net importers.  again the maret is almost blind to the china crah happening now check yuan selling outflows etc.  that is pure danger.  

Mon, 12/05/2011 - 16:23 | 1947984 Sophist Economicus
Sophist Economicus's picture

Won't matter -- Just like Treasury -- The banks and governments are strange bed-fellows now.   This will be ignored till the day the SHTF....

Mon, 12/05/2011 - 16:23 | 1947987 vote_libertaria...
vote_libertarian_party's picture

aaaaaaand US stocks are still green.

Mon, 12/05/2011 - 16:27 | 1948004 junkyardjack
junkyardjack's picture

US equity investors don't care about fundamentals.  Just a bigger idiot

Mon, 12/05/2011 - 16:30 | 1948021 chunga
chunga's picture

Mic check: Is there anyone left who believes the stock market is a bellwether of anything but fraud and manipulation?

Mon, 12/05/2011 - 16:35 | 1948045 fuu
fuu's picture

Is there anyone left who believes the stock market is a bellwether of anything but fraud and manipulation?

Mon, 12/05/2011 - 16:40 | 1948067 Peter K
Peter K's picture

Down twinkles

Mon, 12/05/2011 - 17:41 | 1948363 chunga
chunga's picture

No

Yes

Mon, 12/05/2011 - 16:37 | 1948049 tmosley
tmosley's picture

Hey, I just landed on Go and collected $200.  Who cares about global economic catastrophe?  

Mon, 12/05/2011 - 16:38 | 1948059 SheepDog-One
SheepDog-One's picture

Remember, US stocks are the kids with hockey helmets on playing with cat turds in the sand box.

Mon, 12/05/2011 - 16:24 | 1947989 firstdivision
firstdivision's picture

Brian Sack is sure defending that 1250 line with every penny he's allowed to comingle.

Mon, 12/05/2011 - 16:26 | 1948002 RobotTrader
RobotTrader's picture

Gold getting dumped like a bad habit

Everyone piling once again into U.S. Fiat

Interest rates plunging, bringing out "Animal Spirits" which will boost equities even higher after this selloff is over.

Mon, 12/05/2011 - 16:30 | 1948019 GNWT
GNWT's picture

Sorry Robo, got it backwards this time maybe.

Just a big ole ABC, heading back to low 2100's on the NQ.

Trend is your friend, may be anticipating but an old tape reader like myself can feel the heat from the kitchen, I think.

Mon, 12/05/2011 - 16:40 | 1948062 SheepDog-One
SheepDog-One's picture

'Even higher' than what....the 1995 levels equities are at right now?

Mon, 12/05/2011 - 16:26 | 1948003 TruthInSunshine
TruthInSunshine's picture

Kill the whales & seals.

But save John Corzine.

 

#JohnCorzineInnocenceProject

#EricPlaceHolderProjectGunRunner

#LetTheFedsLaunderYourNarcoMoney

Mon, 12/05/2011 - 16:28 | 1948011 GNWT
GNWT's picture

Hourly Euro and NQ are now lower low lower high, fundamentals back the move.

Risk-Offers?  Risk On for Shorts

Mon, 12/05/2011 - 16:29 | 1948017 OttoMBMP
OttoMBMP's picture

I send my congratulations to Mitterrand & Delors!

Germany is down, the establishment of the EUSSR's transfer union is now confirmed. Add another national holiday: 11 November, 8 May and now: 5 December!

François, how is your boiling hot champain down in hell?

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