Snow White Dumps Prince Charming

Tyler Durden's picture

Via Mark E. Grant, author of Out of the Box,

Magic Mirror: Snow White still lives, fairest in the land. 'Tis the heart of a pig you hold in your hand.
 
Queen: The heart of a pig! Then I've been tricked!
 
You know how when you were a little kid and you believed in fairy tales, that fantasy of what your life would be; a shimmering white dress, a Prince Charming who would carry you away to his castle on a hill. You would lie in bed at night and close your eyes and you had complete and utter faith in God, country and Superman. Santa Claus, the Tooth Fairy, the quest for the Grail, the Easter Bunny were so close you could taste them, but eventually you grow up, one day you open your eyes and the fairy tale disappears.
 
Sneezy: Hey, someone stole our dishes!
 
Most people, most markets, operate on the basis of reality and probable scenarios based upon fact. This is not true for the equity markets however as it is here where hopes and prayers and visions of Tinkerbell and little blue fairies that will come to the rescue reside. It is in the stock markets where great dreams take place and where Batman guards Metropolis. It is also here, however, where eyes tightly closed are pried open from time-to-time and where the horrors of the known universe stare back at you with disquieting eyes.
 
Sleepy: Maybe the Old Queen has got Snow White.
 
Thursday and Friday of last week, I should imagine, will prove to be those once again days where the flight of fantasy took off and hoped for the best only to find that the fuel in the tanks was dangerously low. Treasuries moved some, not much, the bonds of Spain and Italy gained a bit of ground while the stock markets soared on the basis that all of Europe’s problems had been solved by Draghi & Company. Interestingly enough, after the close of course which is the way these schemes are pre-arranged, the German Central bank came out and said there were no changes in their stance and so the cold water was poured upon the fire after all of the party-goers had gone home. Just this morning in Berlin the German Finance Minister declared that the Stabilization Fund that is currently in existence, the EFSF, will not be buying Spanish debt in the market which topples the dreams and fantasies of last week.
 
Magic Mirror: Prepare to be amazed beyond all expectations. After all it is what I do.
 
 
Draghi represents the Southern contingency, the periphery nations, the troubled cousins who cannot live on what they make. This is all fine and dandy but do not kid yourself; if the Germans say “Nein” then it is “Nein” and any other conclusion is foolhardy. We will soon get the German opinion on Greece, the money for the Spanish banks is going to the nation of Spain and will be controlled by the German auditors, Italy is staring at mounting difficulties, Portugal is going to face an Act II and there is only $65 billion left in the EFSF fund while the ESM fund is hung up in the German courts until September 12 and today is July 28. 
 
Whoosh and sorry for the dose of reality.
 
Snow White: That was fun!

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TheFourthStooge-ing's picture

Snow White went all in on Facebook, Netflix, Lulu Lemon, et. al, and lost her ass bigtime. She's doing gigs at dwarfgangbang.com to keep from defaulting on her student loans.

The Monkey's picture

Prince Charming is huffing paint after taking it up the ass on Zynga.

hedgehog9999's picture

I think in this fairy tale prince charming is uncle Timmy who's meeting the Drag and the german guy on Monday. I think the drag is banking on Timmy coming up with some magic tricks like a couple of Trillion swaps for Europe and they will try to fight Schauble into submission......

That will probably trigger a corrective move on indexes until we see what kind of magic they can come up with..

jeff montanye's picture

moving from the wild pack to the bedroom, but still waking up to bitter reality: those sexy chordettes really did ask for him to have lots of wavy hair like liberace: http://www.youtube.com/watch?v=SsKQXJQwrNc

wandstrasse's picture

Believe me, all this 'nein' is vote-baiting lip service.. words no actions. Maybe some of those who say 'nein' really mean it... but the ponzi has gone too far.. even the bravest 'nein' would not change anything.

Harbanger's picture

It is too late for Germany to say nein and people in the know understand that Germany can’t save itself. Eventually they will default, again. Germany has a very high sovereign debt to GDP and a Euro zone crisis will destroy their banks and force them to recapitalize their banks by printing.  Starten Sie den Druck-Maschine

Itch's picture

Did the Germans fight for an independent ECB? Did they or did they not?  They screamed the loudest, fought tooth and nail, and (ha) now they are practically all doves; Draghi,  Constancio, Coeure and Preet The only german left is Asmussen as Weber and Stark have already left. Of the other non-permanent central bankers, 6 come from crisis countries and are obviously doves. Of the other 9 “non-crisis” countries; Austria, Belgium, Estonia, Finland, France, Germany, Malta, Netherlands and Slovakia, the balance has also tipped with Austria coming out in favour of a banking license. 

Anyone that believes in this mythical power of the German nein is full of shit. “on the basis of reality and probable scenarios based upon fact”(lost up his own hole, frankly), how does he conclude that the ECB will remain hawkish with so many doves? It’s either a democratic institution or it isn’t. This hysteria surrounding the German capacity for saying nein is daft; they can keep saying nein right up until the pertinent question is asked of them…i.e. well, do you want to stay in the Eurozone or not? And they will answer with a resounding ja.

Its time for the rubber to hit the road. As if the rest of the zone are going to sit back and watch them notch up record growth, jobs and exports on the back of a cripple, yet try to pretend they are only interested in hard money principles. No, they wanted a democratic institution, and the time is drawing ever nearer until they find out what that actually means…“the bludgeoning of the people, by the people, for the people

MillionDollarBoner_'s picture

But if Germany chooses to leave the Euro, they no longer have to say "Ja", "Nein" or anything...

oogs66's picture

German economy is slowing down already because no one wants to do new contracts with future high cost producer - deutschmark would kill german economy especially when rest of Europe revolts against them if they exit

hedgehog9999's picture

Germany ultimately will leave the Euro, and by the way nothing is democratic any more it is all manipulation , pulling strings and close power elites......

democracy,free enterprise and free markets is just another fairy tale in vogue.......

 

dirtbagger's picture

Germany has conveniently prospered with its mercantilism policy by financing a captive audience in the Eurozone.  Perhaps they should have asked the fundamental banking/business question - can your customers repay the loan?   The US banks are bad, but the British, Swiss, and German Banks are even worse. 

JOYFUL's picture

Yikes...Harbanger and the dirtbagger - two wide awake wastrels, disturbing the slumber party? You dare to interfere with the chosen narrative here? Swinehund!

And it was all going so well! Wolf Ritcher's Grimm's Fairy Tales have splashed the powerz chosen disinfo over these pages for weeks...but it seems victory has not yet been secured! So let's get him a sidekick - a gnomish nerd with yet another nuance to the BIG LIE so expensively propagated via purchase of a top banner slot on the fringe blog...

cue\Mark Grant...whose unintentionally ironic homage to Hans Christian Anderson marks a new nadir in the phony fairy tale sweepstakes....and added to the procession of ogres, flamin dragons, trolls, goose-girls and other magical helpers of the moneypower displayed upon these pages lately comes this intellectual dwarf!

"Draghi represents the Southern contingency, the periphery nations, the troubled cousins who cannot live on what they make."

This just in Mark, via the Magic Mirror: the nordic contingency, the vaunted valkryie who live high in the clouds of their own Märchen, are in for a rude awakening when the strings holding them up are stripped away....German-Austrian banks are in worse technical shape than even the I-ties & Spics... Holland's a basket case, soon to lose it's vaunted credit ratings with all but the fabulist contingent of the raters...UK is done, toast. Denmark ditto.

Need we go on? There is no $ left in Euroland...anywhere...it's all been stolen by the Kosher Mafiya and now the end of the shell game is nigh. Leave the peons to fight amongst themselves and get into the getaway car for a quick exit as the stage lights dim.

"Nowadays everybody wanna talk But nothing comes out When they move the lips it's just a bunch of jibberish" -

Insane Clown Posse - Nothin But A Bitch Thang

 

Back in the box Mark.

 

grekko's picture

It appears to me that Draghi just ran out of Pixie Dust.

boooyaaaah's picture

That meets with my evaluation of what the f' is going on

The money that the Southern Nations borrowed, overspent and cannot repay

Was used to buy things --- Geman things -- Dannish and Sweedish etc

And in the process made the Germans rich selling the things - A BMW in every garage

I don't know of a solution -- but Nien to Greece, is really Nien to BMW

When you play a crooked game --- all of them (an US as well) you have to face reality sooner or later

Why was the game so crooked?

Why were there so many BMWs bought and sold?

It is what we do

 

 

 

 

 

LMAOLORI's picture

 

I wonder how many people will dump their Money Market Fund if the Fed pushes this through...

Still Think That Money Market Fund Is “Cash”?

http://dollarcollapse.com/capital-controls/still-think-that-money-market-fund-is-cash/

The Monkey's picture

Insist on an FDIC sweep, or change brokerages.

philosophers bone's picture

None because the terms will be buried in the fine print on page 87 of the prospectus.  And financial advisors won't properly advise their clients of this risk out of fear of moving asset into "real" assets which are not held in a brokerage account.

If the securities regulators are doing their jobs, they would recognize that the average muppet regards their money market fund as cash and require any investor purchasing or holding a money market fund to get independent advice and sign an written acknowledgement.

Won't happen.  This crisis is so foreseeable!

ouchtouch's picture

I am mystified as to why anyone keeps money in a money market fund these days.  I use TreasuryDirect.

RobotTrader's picture

Only one day up in the NYSE Summation Index, but if it keeps going, could be a long summer for the bears.

 

http://stockcharts.com/freecharts/McSumNYSE.html

The Monkey's picture

Could be. I guess we'll find out on Wednesday.

Yen Cross's picture

 Keep trading those "Tape Bombs" ROBO!

Sudden Debt's picture

you know, every time you use the word "bomb", some NSA sucker needs to read your post...

Haager's picture

So? But why are banking-terrorists still able to bomb the markets and to nuke specific assets at will whilst those NSA-guys keep tracking? Oh, wait...

TPTB_r_TBTF's picture

You are right, the word "Bomb" triggers their bots.

However, in the meantime, the Agencies have blood-n-flesh agents scanning each-and-every post on ZeroHedge.  We are special; we get real agents scanning our posts.  I would love to do some SQL on their ZeroHedge database!  Wonder how they have us profiled?

magpie's picture

The really dangerous people are not even on payrolls.

http://www.youtube.com/watch?v=k23ynqcwiuk

Landrew's picture

You don't have to worry if you are holding your last recommendations "Chinese Solar Stocks" You have no money to lose.

mick68's picture

I truly never thought I would see the day that cynical traders willingly believed fairy tales. They tend the other way naturally, but here it is happening. My only explanation is their cynicism has reached the point where they see profit in collectively shutting their eyes, which, at least temporarily, keeps this stuffed pig afloat. How long before the first opens his eyes and bolts for the door? He will kick this off to be sure, so fragile a thing is a lie covered with fairy tales.

FranSix's picture

TSX has been in a bear market since early 2011, and looks like it will be testing the lows once again.  Not once have I heard this mentioned in the Canadian Press or any televised coverage.

http://scharts.co/QT6Y6U

wisfool's picture

I stopped after:

Most people, most markets, operate on the basis of reality and probable scenarios based upon fact. This is not true for the equity markets however as it is here where hopes and prayers and visions of Tinkerbell and little blue fairies that will come to the rescue reside.

 

The article is fooling itself.  It is BECAUSE we live in a faux reality that visions and prayers are what we observe: our media/our leaders

 

Marcuz Aurelius's picture

You really gotta worry when music like this starts to reverberate in the city of Nuremberg once again http://www.youtube.com/watch?v=DZ71CQiDBpY but till then !

this will have surely have a fairy tail happy ending i mean look at all those royals having a jolly good old time in London :-) *puts head in sand*

nmewn's picture

Rainbows, puppy dogs and unicorn farts.

Absalon's picture

Since most investors only hold a small subset of the individual stocks available we should recognize that most investors most of the time view most individual stocks as over priced. 

q99x2's picture

I'll take two pink fairies to go. Just one night thank you.

PatientZero's picture

Now come on, Tyler. You know as well as I do the equity markets are powered by unicorn farts.

killedbyshortvol's picture

Not to be nit-picky, but Batman guards Gotham, not Metropolis.

zhandax's picture

That was the Saturday pool......

hedgehog9999's picture

Superman , Batmans , it all the same BS Hollywood crap... I have no idea why people go to a movie theater to watch this crap shit at midnight and get shot at.......

q99x2's picture

Central Bankers Hold the Key as Market Awaits Jobs Report

What is this shit. This is not a democratic republic. This is not communism. This is a war. And, the terrorist banksters have declared it.

Mentaliusanything's picture

So The Dow index is above 13,000. That tells me you have large amounts of money chasing the only game in town.

Can you say - "Asset Misallocation" or "Priced for perfection"

The US markets are hooked on Ben's Meth and eccies, while the rest of the World spirals into a dark place

Its going to be one hell of a hangover when this bubble bursts

And it IS A BUBBLE but the air has to go somewhere. 

Yen Cross's picture

 Attn; Joe Kernen @ CNBS has adopted " tapebomb", as the new " Catch Phrase" , on Squawk Box.

 )update( Steve Liestard slipped in the shower today, and isn't expected to recover.

earleflorida's picture

Sooner,... much sooner - rather than later, somebody of global importance and fabulous wealth... or, even a 'Sovereign Foreign [Germany, Austra, Switzerland, Belgium, et.el.]Government' is going to expose these 'Shylock's' for global [et.el., Draghi the Charlatan Squid of un[fathom]able megalomania] market manipulation.

It won't be pretty when these non`sequitur's are rounded up and imprisoned for their lassez-faire simony that's shredded the free worlds' 4th Estate's financial credibility!

As I pin this comment, this reality is already coming to fruition!

God Bless you, Julian Assange!!! 

Schmuck Raker's picture

"Shame on you Tyler for using images of beautiful woman to lure readers into guest posts only to find said image not in the article... That's what fricking mainstream websites do...

But she was pretty..."

[ala Frastric]

Yen Cross's picture

 A couple of tools for those without a Bloomberg terminal.  http://www.tradingeconomics.com/bonds-list-by-country

 These guys work awesome on my mobile platform. This page has been retuned to show realtime yields, as of last week!

 No more fractions, and futures. They are still available in the menu. I'm trying to get these guys to provide " sovereign spreads" in the menu. Here is the page. http://www.forexpros.com/rates-bonds/.   Just click on the region to open a more defined chart.

  Click on live quote, then bonds in the menu.

 

Xanthias's picture

Thank you very much for this.  You're right: the best I've been able to do on my modest platform is check futures prices.