SSDD: Gold Soaring, Europe Plunging...Despite Short Selling Ban

Tyler Durden's picture

Update: it begins - Fiat (FI.IM) and Exor (EXO.IM) are halted. Look for Intesa and Unicredit to follow any second.

It was fun while it lasted, or all about 6 days. Following the imposition of the continental short selling ban, Europe managed to prevent the now daily occurrence of halting trading in key financials... for almost a week. But not quite. We fully expect that UniCredit (down 5.3%), Intesa (down 4%) or Fiat (down 8%) wlil be halted any second, despite the fact that nobody is shorting them. All that was necessary for a return to the status quo, or for Europe to be open. Following news from the WSJ overnight that the Fed is "concerned" about European bank funding (a story which is such a glaring plant: why on earth would the Fed of all entities invite contagion by indicating that the funding pyramid, at whose base it itself is located courtesy of the unlimited FX swap lines), which in turn used data first broken by Zero Hedge yesterday namely that "In one sign of how European banks may be having trouble getting dollar funding, an unidentified European bank on Wednesday borrowed $500 million in one-week debt from the European Central Bank, according to ECB data. The bank paid a higher cost than what other banks would pay to borrow dollars from fellow lenders. It was the first time for that type of borrowing since Feb 23", has led to every index in Europe is plunging, and at last check US futures were down over 20 points. Why would use its traditional mouthpiece the WSJ to spread fear? Why QE3 of course. As we will never tire of repeating, the market has to fall another 20% for another easing episode to be feasible. And what better way for this to happen if you are Ben Bernanke? Why hit them where it really hurts - European bank stability of course. Oh yes, all of this has sent gold to just under all time record highs at $1810, pretty much as also expected.

Keep an eye open for headlines of an imminent FTSE MIB breakage, following the sequential halt of all Italian financial stocks as Europe now scrambles to come up with another even more harebrained idea as a last ditch protection for its insolvent capital markets.

We also expect another "emergency" meeting between Sarkozy and Merkel to be announced momentarily if the DAX plunge, fat fingered or not, continues.

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breezer1's picture

what's really strange is that most people in north america don't realise whats going on. 

WorkOutWellForAll's picture

In between the tensile self-absorbed money lust of the "know what's going on" pile -- and the normal scrambling-inside-the-Jeuropean lie-web pseudo-society... 'tween those two, nobody's got the big picture.

While ya'll keep good track a yer massa's #s good right -- and it might tick up a few in your little numbers box -- are you suffering the responsibility heat of nurturing the un-knowing less powerful?

No -- just mock apocalyptic narcissism, scurrying after your money masters -- loving to hate them, and thus as bad as them, stuffing your pockets and scheming to filch tru der system.

MsCreant's picture

You are pretty full of shit with your own "high and mighty" now ain't ya?

Boy I can tell how superior you are with your little Buddah buddy avatar.

Buddah hated Jews, didn't he? That's real enlightenment.

Fuck off loser.

WorkOutWellForAll's picture

Highly and Mightily Accurate, good sir.

All the enthooz here, seeming, for da truth -- well, only so long as it one a dem truthz dat makes my pig money sniffing self-ness able to go on.

Funny ain't that -- there do be truths that don't let you scum white fucks keep smilying to yer families.

falak pema's picture

Buddha didn't know any jews except the sanskrit variety. You have a thread to his history that is very interesting. Care to expand on it?

As for fucking its a shared occupation. So maybe you are professing a hidden urge which I completely approve whoever be the lucky loser, I mean winner!

tamboo's picture

looks like buddha wasnt the only one, perhaps you can discern some sort of vague pattern from this;

not to mention that it isnt taught at your juniversity. is your faculty 80% self chosenites like everywhere else?


109 Locations whence Jews have been Expelled since AD250



Snidley Whipsnae's picture

Workoutwellforall... Would you have us all living under a bridge and taking vows of poverty?

You sound like a sore head typing at the public library...

If you fail to look out for number 1 you can bet your bippy no one else will... In fact, you cognizence of this fact is why you are here complaining about those of us who are...

If you don't make a few bucks, how can you help friends and family? You think the fucking gov is going to help when the help is really needed?

WorkOutWellForAll's picture

I would have everyone who jokes about high-level malfunction, which causes massive pain and death --- and then giddily drools about their stupid fucking horde and the metal form they keep it in -- I'd just have these fellas keep the LESS powerful first and foremost in their long-term planning and cognitive consideration.

Everybody who knows enough to buy Gold is intelligent enough to conceptualize the world in a solving framework.

It's the patheeeeetic money grubbing obsession that they got herded into (jobs and indoctrinating education) -- that tricked em stupid enough not to be able to delineate the harmful-deceitful elements of the ruling class ideology from their own lives.

Principle is indeed high and mighty. And I warmly greet the anger, which is but the inverse reflection of your unprinciple. (Talkin' bout the other fella, you're nicer = less committed to unprinciple)

Snidley Whipsnae's picture

Oh...I see... You have set for yourself the task of changing human nature...

Let me know how that works out...

WorkOutWellForAll's picture

Contrary to the Zero Zeitgeist -- cooperative, solving intelligence is human nature.

And, unfortunately, first-money-worrying sniggering is the #1 propaganda blanket function... i.e. passive, flat, worrying first about your money, is a successful business indoctrination operation running back to late 1930s National Association of Manufacturers.

Used to be solidarity -- that primitive naivete that is the human nature that fuels the ridicule here too.

Can't change that, no matter what --- same for all life.

Snidley Whipsnae's picture


So you are saying that human nature has already changed? And it morphed circa 1930?

"Used to be solidarity"...???

Perhaps you can link to some evidence of your claim?

I am not religious, but I will wager that Jesus would not agree with you!

WorkOutWellForAll's picture

No -- human nature -- i.e. necessary process functioning of sapiens central nervous systi -- it don't never change -- it just got knocked off kilter by the NAM in the run up to the big commie killings in the Great Patriotic War.

Sir, yes, sir. Would you like cream with that, sir!

MsCreant's picture

Your presentation of self is a lie. A Buddah follower would not spew hatred based on race. In fact, he would not spew hatred. This is why I am writing you off as a troll. You, in fact, do not want it to work out well for all. Your logic is inconsistent.

Bye now. Roll up another character. I'm sure you will play again.

WorkOutWellForAll's picture

Is it the "Jeuropean" adjective that has ruffled you?

Do you deny that Jewish Zionists run the Federal Reserve and USA?

Oh regional Indian's picture

WOWFA, welcome. Refreshing points of view, indeed. 

You will be deeply dis-liked by most here. Don't let it bother you. In all of your jumbled (or is it Jumbalaya) english, I hear you. Well.


WorkOutWellForAll's picture

Yer just dodging the Jew question with yer sweet talk. Fess up -- you're afraid!

Smiddywesson's picture

You obviously fancy yourself as some type of poet, or prophet, I really don't care which, but could you please dispense with the thesaurus laden drivel and at least try to type a full sentence that expresses a cogent thought? 

You can't possibly think in as disjointed fashion as you write.  You can't even communicate your thoughts and you are schooling people here on what they should think? 

I am serious and not just trying to cut you down.  Reread what you wrote, you don't make any sense and it takes multiple rereads to piece together the jigsaw puzzle of your shattered sanity.

Stop doing drugs.  Seriously, it is killing you.  My guess is you are homeless, angry, and dangerous to yourself as well as others.

WorkOutWellForAll's picture

You obviously fancy me a poet and a prophet and homeless -- Buddha I guess.

I drool over my own words -- whence!? Denken ain't schriften.

If you have a straight question, I'll answer clearly. If you're going to poo-poo me to fight off my saintly octopus logic, well then, eat shit you fucking kike boot licking gold whore.

tip e. canoe's picture

i would gladly give my stash away with giee should Thu, 08/18/2011 - 08:52

-- the moment where some human somewhere on this planet using a buddha avatar uses the language above to spread dhamma -- 

mark the moment of Peak Irony.

Bicycle Repairman's picture

"Everybody who knows enough to buy Gold is intelligent enough to conceptualize the world in a solving framework."

That's right and we have.  But TPTB won't act on our advice.  Can you believe it?

Urban Roman's picture

I fart in your general direction.

WorkOutWellForAll's picture

Non sequitur is tacit reactionary ideological attack.

Ya'll will find that constructive, helpful, accurate, principled intelligence is a lot more fun that cleverly insulting people.

Smiddywesson's picture

Yeah, make every sentence as complex as possible, sprinkle in some psychology, add a pinch of philosophy, and everyone will respect your intelligence ON ZEROHEDGE?  You wouldn't notice because you are so busy looking in the mirror, but there are very intelligent people here who respect absolutely nothing but the truth.  Your opinions have zero credibility now.

WorkOutWellForAll's picture

I read these comments in detail. Putting a "credibility" on an opinion -- ain't that supposed to be dumb around here? My sentences are gold with eternal infinite value.

Snidley Whipsnae's picture

"My sentences are gold with eternal infinite value."

A legend in your own mind!

Hey bud, just cause the world doesn't conform to your ideal doesn't mean you have the capability to change it... or even alter it's course one iota...

I will venture a guess... Living at home with mom and swallowed double your med script this am?

WorkOutWellForAll's picture

Every person permanently changes the world -- most people, sadly, can't do much more than filch some green to feed the youngin's -- and then there's there rich here, whose speech lives are precisely of the nature of their usurious oeconomy, 'cept they take interest on perceptions and cognitions.

I know -- it's complicated and beautiful -- gaze.

prophet's picture

Yes, we have found that, but you apparently have yet to do so.

Azannoth's picture

It's all willful ignorance, forget about 'waking people up' they want to sleep, let them, they will wakeup when the sky falls on their heads

WorkOutWellForAll's picture

Smug feigned knowing, finished with veiled play glee at mass death.

Such is the snickering imbecility for the in-on-it crowd 'roun here.

MsCreant's picture

Troll, see what I mean. Hateful thing. See what I mean Buddah boy? Ya blew it.

WorkOutWellForAll's picture

Responsibility to evaluate sincerity and helpfulness of remarks is entirely on the responder. Amazingly, even resentful insincerity can be approached profitably -- cuz there's a human behind everything -- 10 billion of em by 2050:

Smiddywesson's picture

Can't you find a web site where they will appreciate you for the great thinker that you obviously believe you are?  Might I suggest one frequented by juveniles who don't know any better and won't notice your lack of command of the English language?  I'm sure American Idol has a fan site.

WorkOutWellForAll's picture

Ya seez, fella -- dem udder wib sytes -- dey don't know nuthin bout finanz! Der-4 ... (ahem) ... for them, the economy is equivalent to God. I need you all conservative rich guys to get intelligent and principled. That's why I'm here.

Snidley Whipsnae's picture

"I need you all conservative rich guys to get intelligent and principled. That's why I'm here."

I wouldn't put myself into any of your boxes...

But will venture a guess that your batting average is ZERO...

WorkOutWellForAll's picture

I was addressing that specific group -- since these comments, while replied individually, are read universally. Everybody's got the opportunity to be smart -- it's just the rich, white, Gold bugs -- they got the security, therefore power, to actually do some good -- rather than watch the mold grow on their horde.

Snidley Whipsnae's picture

" it's just the rich, white, Gold bugs -- they got the security, therefore power, to actually do some good -- rather than watch the mold grow on their horde."

And, specifically, what 'good' do you have in mind?

WorkOutWellForAll's picture

Now you're talkin'!

Ain't nothing to it, really. Of course, I seem not to be able to tell others what good they need to do.

The trick is you have to live beyond your means on behalf of helping those with less power than you -- the opposite of living within your money limits to accumulate more.

If you want to lay out your assets, I could give you some ideas. But I really don't want to bother. I guess my specialty is accurate research and theory -- but, you are correct by implication, I offer no panacea at this point.

There's a way to see beyond all the world's money accumulating that ever's been done. Maaaybe somebody else could see it through what I write. I'd be pleasantly surprised.

There's lots of factors nobody's looking at -- and seeing the necessity towards solution is more complicated than anybody else apparently can see. Soo...

Don't intend to spin ya round like this -- but, good -- it's real simple, and yet people all befogged. I'm not willfully obscure. Yet, apparently, I can only indirectly describe, absent more specific questions, your answer.

achmachat's picture

I am still buying silver today, the gold to silver ratio being ridiculously high, my family and friends are STILL making fun of me.

lolmao500's picture

It can go much higher. Like 100-1

Its_the_economy_stupid's picture

Caution advised. Those making fun today will be robbing your house tommorrow. I recommend ZH and JSMIneset to my friends but I stop short of advising PM aquisition, for obvious reasons.

papaswamp's picture

I would think 5.56 and 7.62mm might be more useful at this point.

Smiddywesson's picture

Good, and add one to your hidey hole like Max kept the machete under his gas tank.

Snidley Whipsnae's picture

Patience is a virtue... Silver will move, right now silver is still absorbing and adjusting to the 6 margin hikes that hit to drive price down... Once investors/specs see an opportunity they will be back into silver... could be today, could be next month. Just my opinion, not investment advice.

Be right and sit tight... J Livermore

Smiddywesson's picture

I agree and would add a word of caution to silver holders, you are likely not to feel any love until the end of this game.

The game of the central banks is to kick the can and slowly acquire gold, not silver.  That means that they can hold the silver market down, but not the gold market.  They will stop kicking the can at some point, and that is when silver will skyrocket.  What will cause them to stop delaying and switch us to a new monetary system are three things:

1.  Gold goes vertical

2.  They lose control of silver and it breaks several big banks

3.  Kicking the can is no longer practical due to plummeting currencies (slow debasement is good for them, fast debasement is bad), generalized panic, or uncontrollable unrest.

I call no joy for silver until the end of the can kicking period.  Until then, the big banks are perfectly happy with the situation.  I own some silver in addition to gold, and will not get shaken out just because it hasn't risen like gold.  Its day is coming.

Irish66's picture

I just read the $500 borrow on two other sites and I

said to myself Zero hedge is 24 hours ahead of everyone.

Thank you!

MK ultra's picture

My Edward Jones guy scoffed 3 years ago when I liquidated a small 401K and bought SAE's, a few GAE's and some Pamp bars.

We'll see who has the last laugh.

(Oh, and thanks Hugo)

makeyoumiss's picture


Smiddywesson's picture

I gave up trying to tell my coworker that she is going to lose everything.  She has some kid managing her money and he has her in a "diversified" position.  I looked at it, it's all stocks.  Diversified means to this "professional" spreading your money in US and foreign stocks.  Too funny.