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When does this bailout model change? This is nuts, no one can pay any of this money back.
"no one can pay any of this money back."
If you stop thinking of it as 'money' and begin thinking of it as 'monopoly money' you will understand that you are watching a global board game... At some point it will be put back in it's box and placed on a closet shelf, to be used again someday.
When the game is put away, we go back to real money backed by real assets.
Hoping for an economic boom that'll get them out o this mess is like the UBS trader hoping for the CHF to bounce
Is it possible that everyone could possibly ignore the Macro news yeaterday? My goodness, it was disaterous.
full substantiation of all Greek targets is essential, calls for full implementation
And the penalty for failing to substantiate the targets? Thats the $64b (inflation) question
"Rehn says France, Italy, Belgium and Spain have all ratified more flexible EFSF "
The beggers agree to more and easier funds so they can beg for more....LOL
"Here is the European partyline which luckily never changes."
The Three Stooges are employing rules 2 and 6 from the rules of percetion management.
2) Credibility — Make sure all of your information is consistent, often using prejudices or expectations to increase credibility.
6) Coordination — The organization or propaganda ministry is organized in a hierarchical pattern in order to maintain consistent and synchronized distribution of information.
wikipedia on perception management: http://en.wikipedia.org/wiki/Perception_management
The Poles really fucked up with perception management by naming the conference with something that sounds like Euro coffin.
YCH... LOL... A suitable name for sure.
...and the Fed meeting should be held in Intercourse, Pa.
or Hell, Michigan
They've only addressed the liquidity portion of the problem (albeit with the same mistakes that create bigger problems down th road), but have done nothing to deal with the solvency issue i.e. no amount of growth measures will allow countries to get out of the debt problem until there's some major restructuring across the board. How many times are we going through the same old song and dance?
They have addressed the liquidity issue BY INCREASING the insolvency issue, too funny....
The machine is broken, soon parts will start flying off of it....
"They have addressed the liquidity issue BY INCREASING the insolvency issue, too funny...."
It's just paper and digits in a computer... None of it means a damn thing... If they failed to pretend that it meant someting, we to would realize that it means nothing. So, they conduct 'important meetings' and we, the vast unwashed, are wowed. Fuck those ass hats, I say all soverigns should be allowed to print any damned paper currency that they find themselves short of...
Then, we would see the gold standard in a damn quick hurry!
I say all soverigns should be allowed to print any damned paper currency that they find themselves short of...
Great point, I am sure that Gresham would approve and keep storing up the good until it stopped.
moriarty... Yeah, that's what Gresham would do... and that's what I'm doing. When the smoke clears, and we have a way to go, we will see who is grinning and who is left holding a lot of worthless paper.
A deterioratng global economy puts a damper on their grand socialist plans. A dax and cac idx with 40% declines leaves little room for them to move.. a box if you will.
I found it intresting that the Euro came very close to pre-"announcement" levels last night.....and seem headed back down this morning.
Does the article end up saying UniCredit, Barclays and BNP end up in coffins or is that my dyslexia again?
More games... PMs caught a little tail wind this am on LBMA open...
LBMA must figure they had enough suckers on the short side opening and decided to whipsaw some bucks out of them.
Serves the paper players right.
Get right, sit tight... physical PMs... The azz hats can beat them down for a while with paper games, but they will come back stronger than ever.
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