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Super Mario Enters With A Bang: ECB Cuts Rate By 25 bps To 1.25%

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Thu, 11/03/2011 - 08:49 | 1840536 Hansel
Hansel's picture

This fixes everything!

Thu, 11/03/2011 - 08:50 | 1840547 ChickenTikka
ChickenTikka's picture

Great, we can go home now. I'm gonna go get drunk.

Thu, 11/03/2011 - 09:08 | 1840684 i-dog
i-dog's picture

Yeah ... good plan ... putting a Jesuit in charge of the ECB! This should end well....

Thu, 11/03/2011 - 09:23 | 1840817 sqz
sqz's picture

I'd be more worried about the fact he's Italian and the core of the EZ problems as a currency area are neatly summarized in that one country.

With this rate drop, they have just reduced their tools for managing liquidity, and perhaps more importantly signalled the market for more easing. This increases likelihood of ECB becoming a permanent backstop for EU sovereign debt, with or without the EFSF/ESM, and thus effectively printing (since they seem atrociously bad at sterilizing most of it even at the previous higher reference rate).

Thu, 11/03/2011 - 09:33 | 1840886 Ghordius
Ghordius's picture

i-dog, I thought you have something against my friend of the Order of St. John. Now you have something against Jesuits, too? Did you escape some catholic boarding school or what is it? Were you raped by nuns? Were they hot? Did they force you to do disgusting things?

Draghi is first a EconProfessor, second a Goldmanite, third a career burocrat and fourth an Italian

Ah, I already miss Trichet... bring back, bring back, bring back stabeeleetee to me!

Thu, 11/03/2011 - 09:38 | 1840932 i-dog
i-dog's picture

Goldman is also run by the Jesuits. You obviously missed my rundown a day or so back.

Thu, 11/03/2011 - 09:43 | 1840953 Maxwell Smart
Maxwell Smart's picture

No, Mario Draghi is first a Bilderberger, so World Government is his primary goal.

Thu, 11/03/2011 - 08:53 | 1840583 qussl3
qussl3's picture

They just hit the panic button.

For Draghi to cut is open admission that the EZ economy is imploding.

The implications for balance sheets and debt is dire.

We may rally, but this smells strongly of distribution.

Thu, 11/03/2011 - 09:05 | 1840672 LawsofPhysics
LawsofPhysics's picture

"We may rally, but this smells strongly of re-distribution."


Fixed it for you.  You are right, timing is everything. We rally aaaaannnnndddd, it's gone.

Thu, 11/03/2011 - 08:53 | 1840586 rosex229
rosex229's picture

this should drag down yields on italian bonds right. i'm genuinely curious if that corresponds directly to a 25 pip reduction in the italian 10 yr throwing it back below 6 percent...if not for just a few days

Thu, 11/03/2011 - 09:02 | 1840652 qussl3
qussl3's picture

Doesnt matter, the headlines out of Greece will overwhelm this throw of the dice.

0.25 aint going to do squat if Greece says FU.

Thu, 11/03/2011 - 09:03 | 1840656 Mike2756
Mike2756's picture

.25 rate cut, 50% haircut.

Thu, 11/03/2011 - 09:00 | 1840636 knukles
knukles's picture

Be an Italian
Wear Greece
Bah dump bah dump bah dump bah dump
Watch your Euro
Slide to your Feet....

Gives Surrender a New Meaning.

Thu, 11/03/2011 - 08:50 | 1840539 lapedochild
lapedochild's picture


Thu, 11/03/2011 - 08:50 | 1840541 Tsar Pointless
Tsar Pointless's picture

Truly stunning.

My entire world view has been turned upside-down.

Next, you'll be telling me that the Kim Kardashian/Kris Whateverhisnameis wedding was a made-for-TV farce.

Thu, 11/03/2011 - 08:55 | 1840597 TuffsNotEnuff
TuffsNotEnuff's picture

And the whole damned front page is about Europe.

How 1950....

Thu, 11/03/2011 - 08:50 | 1840544 trampstamp
trampstamp's picture

doesn't the dollar melt up on this?

Thu, 11/03/2011 - 08:54 | 1840588 homersimpson
homersimpson's picture

You think but don't underestimate stupidity.

Thu, 11/03/2011 - 09:18 | 1840757 Hansel
Hansel's picture

ECB is at 1.25%, Fed is at 0% until 2013.

Thu, 11/03/2011 - 08:50 | 1840546 HD
HD's picture

Zirp, zirp and away!

Thu, 11/03/2011 - 08:50 | 1840548 Bazinga
Bazinga's picture

Super Mario crashcart in action!

Thu, 11/03/2011 - 08:50 | 1840550 TooRichtoCare
TooRichtoCare's picture

Super Mario basically telling Trichet that he's a dumfukk for having raised rates to begin with...."delivering price stability IMPECCABLY" my arse...good riddance trichet...long live the new king!

Thu, 11/03/2011 - 08:50 | 1840551 Irish66
Irish66's picture

, FIX is in

Thu, 11/03/2011 - 08:50 | 1840552 vegas
vegas's picture

I told you the mistresses and girlfriends were selling the Euro in the 1.3820's. WTF, it's how the world works.





Thu, 11/03/2011 - 08:51 | 1840555 Ancona
Ancona's picture

That should be good for five percent in Europe today. Yay! More cheap money for everyone.

Wait a minute, these fuckers are still bankrupt.....how is this going to actually help?

Thu, 11/03/2011 - 08:51 | 1840556 St. Deluise
St. Deluise's picture

start collecting them gold coins

Thu, 11/03/2011 - 08:50 | 1840557 paarsons
paarsons's picture

Another Goldman-Sachs flunkie giving free money to his friends.

What a fucking shocker.

Fuck him in his ass.


Thu, 11/03/2011 - 08:51 | 1840558 reading
reading's picture

Wow, the markets are seriously like an addict getting a crack hit this morning.  Jeez, little jumpy or what.

Thu, 11/03/2011 - 08:54 | 1840590 SofaPapa
SofaPapa's picture

It does feel like that, doesn't it?  The withdrawal pain is going to be ugly...

Thu, 11/03/2011 - 08:56 | 1840610 reload
reload's picture

Yup - quite unreal.

Huge spikes in the european index futures (thank you Mr D longs liquideated at windfall levels)

and a puke in the Euro - the Algos must be blowing their heads off.

What next?

Thu, 11/03/2011 - 08:51 | 1840560 Quintus
Quintus's picture

What's Italian for "Zee price stabileeeteee"?

Thu, 11/03/2011 - 09:06 | 1840651 LMAO
LMAO's picture

"Di praisa stabiliaté"

Or better still:

"Cosa Nostra"

Thu, 11/03/2011 - 09:29 | 1840866 Dealer
Dealer's picture

price stabeeleteee


Thu, 11/03/2011 - 08:51 | 1840565 youngman
youngman's picture

Hmmm I thought they had pretty good inflation in ole Europe...and what about their mandate.....Hmmmm...me thinks the Goldman Sachs world is back in charge

Thu, 11/03/2011 - 08:52 | 1840568 PaperBear
PaperBear's picture

Gold to $1,800/oz and silver to £36/oz by the end of todays American market ?

Thu, 11/03/2011 - 08:52 | 1840569 pragmatic hobo
pragmatic hobo's picture

now, this in theory should cause euro to go lower in relation to us dollar, correct?

Thu, 11/03/2011 - 09:05 | 1840663 bonderøven-farm ass
bonderøven-farm ass's picture

It all goes to zero.....when priced to 'confidence' what's the benchmark?

Thu, 11/03/2011 - 08:51 | 1840570 Careless Whisper
Careless Whisper's picture

The former Goldman banker...

There are no "bankers" at Goldman. It's a government backed hedge fund.

Thu, 11/03/2011 - 08:55 | 1840594 sumo
sumo's picture

There are no "former" vampire squid enablers. Once a Goldman always a Goldman.

Thu, 11/03/2011 - 08:56 | 1840607 GeneMarchbanks
GeneMarchbanks's picture

Too true. What if I said government was a Goldman backed slush fund?

Thu, 11/03/2011 - 08:52 | 1840573 Zola
Zola's picture

The European PRINTOCCHIO has arrived ... Time for that long Gold short Euro trade , I ALMOST WAITED !

Thu, 11/03/2011 - 08:52 | 1840574 Sequitur
Sequitur's picture

Zirp = Print = Debasement.

Cramer on CNBC: "rate cuts are good."

Thu, 11/03/2011 - 08:56 | 1840605 HD
HD's picture

Flip a coin. It's more accurate than cramer on his best day.

Thu, 11/03/2011 - 08:59 | 1840633 sumo
sumo's picture

And less volatile. The coin gives you a better Sharpe ratio.

Thu, 11/03/2011 - 08:57 | 1840617 disabledvet
disabledvet's picture

rate cuts are good. it says a total retard has left the building and has not been replaced by another one.

Thu, 11/03/2011 - 09:19 | 1840575 e2thex
e2thex's picture


Thu, 11/03/2011 - 08:52 | 1840577 ArkansasAngie
ArkansasAngie's picture

The first person who loses control of his interest rates loses.

Can the whole world go to ZIRP

Anybody want to loan me $1,000,000 to buy Fayettevile rental property at ... gee ... I don't know ... say 2.5%

I'm a better long term risk than Europe.

Thu, 11/03/2011 - 09:00 | 1840639 GoldBricker
GoldBricker's picture

Can the whole world go to ZIRP?

I think we're about to get some empirical evidence that it both can, and can't.

Thu, 11/03/2011 - 08:53 | 1840581 homersimpson
homersimpson's picture

That would explain why FAZ went down an additional 2% in seconds.. bastards.

Thu, 11/03/2011 - 08:53 | 1840582 vegas
vegas's picture

In about 2 hours, the Mercedes dealership in Athens is going to be busy as hell. Wish I had a webcam there for the bimbo alerts.




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