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Thu, 08/11/2011 - 11:00 | 1550886 max2205
max2205's picture

BUY contraion

Thu, 08/11/2011 - 11:05 | 1550911 DormRoom
DormRoom's picture

why.. mother of all short squeeze in Europe.  Buy the rally near term!

Thu, 08/11/2011 - 11:21 | 1550973 flacon
flacon's picture

Is this the same magazine that had Ben Bernanke as MAN OF THE YEAR a couple years ago? I thought so. 

Thu, 08/11/2011 - 11:35 | 1551056 HomoHominiLupus
HomoHominiLupus's picture

...and Hitler....and Stalin...the track record continues...

Thu, 08/11/2011 - 11:39 | 1551082 heyligen
heyligen's picture

all Time idols

Thu, 08/11/2011 - 11:44 | 1551099 spiral_eyes
Thu, 08/11/2011 - 13:18 | 1551405 taxpayer102
taxpayer102's picture

TIME's Communist red cover.

Thu, 08/11/2011 - 11:18 | 1550947 Spitzer
Spitzer's picture

I agree.

The Euro has risen since then from 1.26 to 1.42.( Europeans gaining purchasing power that the US is losing)

More countries have since joned the Euro and shown interst in joining it. And now the Swiss want to peg to it.

Thu, 08/11/2011 - 11:23 | 1550991 RedPirate
RedPirate's picture

I agree...Water is up to neck, and now every discrediting possible is on...If we're gonna die (dollar), you're (Euro) going with us!

Thu, 08/11/2011 - 11:35 | 1551040 Spitzer
Spitzer's picture

The dollar will be pegging to the Euro soon enough, for stability.

And it wouldn't surprise me to see China peg to the Euro rather then the dollar. China has a trade deficit with Europe and Europe needs some capital.

Thu, 08/11/2011 - 12:02 | 1551171 ZeroPower
ZeroPower's picture

The most massively traded FX pair, which not only rules correlation across asset classes but also specifies exact price disparties of goods in each respective currency - and youre saying they will be pegged!! Lol, I was really hoping to see a sarc tag on your first line.

Thu, 08/11/2011 - 12:17 | 1551221 Spitzer
Spitzer's picture

I am talking post USD reserve currency.

Thu, 08/11/2011 - 11:33 | 1551035 Ahmeexnal
Ahmeexnal's picture

The only reason the euro might have more appeal than the USD is that you can choose different colors of paper to wipe your ass with.

Green gets monotonous after a while.


And now the Swiss want to peg to it.


You have to be an idiot if you expect anyone to believe the swiss want to peg to the euro based on the euro's strength.  They circulated the threat of pegging the CHF to the EUR based on the EUR's JUNK STATUS, in order to weaken the CHF.


Europeans gaining purchasing power...


Ask anyone in europe and they'll tell you the opposite. They all lost purchasing power when going from their local currency to the euro! What the sheeple fail to understand is that the euro is a TAX disguised as a currency!!!!

Any credibility you could possibly have you just threw out the window.

Thu, 08/11/2011 - 11:40 | 1551068 Spitzer
Spitzer's picture

So you actually think the Greek Dracma would be trading at 1.42 to the US dollar today ?

Have you seen the price of oil in Euros lately ? the price of gold ?

You know very little about capital markets.

Thu, 08/11/2011 - 21:30 | 1552838 Ahmeexnal
Ahmeexnal's picture

And you claim to know about capital markets because you pay attention to the PRICE of ITEMX???

Why are you not proclaiming KING POUND STERLING instead? GBPUSD beats the EURUSD on your silly numerical game.

Your knowledge about economics is as highly developed as that of any label whore: You know the PRICE of everything, but the VALUE of nothing.

Thu, 08/11/2011 - 11:49 | 1551116 YHC-FTSE
YHC-FTSE's picture

Spitzer has a point. Over 48.9% of all Swiss exports are in the EU (Compared to 9.4% to the US), and over half of the export partners  are in the EU (Compared to 5.1% in the US). It makes sense to peg the CHF against the Euro to sustain exports. Given a choice of devaluing the CHF, the Euro is a much better bet than the USD. They're both shit fiat, but at least the Euro keeps their main customers happy.

Thu, 08/11/2011 - 11:57 | 1551152 RedPirate
RedPirate's picture

And no QE's there also!

Thu, 08/11/2011 - 12:00 | 1551161 Smiddywesson
Smiddywesson's picture

Ding!!!  We have a winner.  Ahmeexnal says the euro is a tax disguised as a currency.  Very good.

I would add that all currencies are just taxes disguised as currencies.  Even the soon to be issue "gold backed" currencies you get will contain a huge hidden tax to bail out the banks and soverign debt. 

Thu, 08/11/2011 - 12:28 | 1551253 Spitzer
Spitzer's picture

So how is the Euro a tax on a Greek citizen who, on a  purchasing power basis, pays less for gold then an American ?

The federal minimum wage in the USA was €676 per month in January 2007.

minimum nominal wage in Greece was 668 euros in 2007

The Euro was worth between 1.33 and 1.40 to the dollar then.

Hidden tax ? more like hidden gift. Idiot.......


Thu, 08/11/2011 - 21:34 | 1552860 Ahmeexnal
Ahmeexnal's picture

um...yeah, right.

the only "hidden gift" the greeks got out of joining the EU (and coming to everyone else in the eurozone) is unpayable debt, serfdom....outright slavery.


Thu, 08/11/2011 - 21:53 | 1552918 Spitzer
Spitzer's picture

It was their decision to spend like drunken party sluts. They could have done the opposite. They could have saved, cut regulation and spending and taxes and turn into the next Singapore.

Thu, 08/11/2011 - 22:25 | 1553026 Spitzer
Spitzer's picture

It was their decision to spend like drunken party sluts. They could have done the opposite. They could have saved, cut regulation and spending and taxes and turn into the next Singapore.

Thu, 08/11/2011 - 12:00 | 1551160 ZeroPower
ZeroPower's picture

More countries have since joned the Euro and shown interst in joining it

Lol. Theyre forced to join due to ratifying the EZ laws which stipulate they must, at some point before 2014 (though i believe Poland and Estonia are currently trying to extend out as far as possible) adopt the new currency.

Before 2010, the poorer CEE countries wanted to take advantage of the strong currency jsut as the Greeks did. Greeks were the front runners in this case, and look what happened. But believe you me, ask any Polak or Estonian what they think of the EUR now and the majority say they are unsure and dont want to be tied down at least not in the near future.

Your love for the EUR is stunning.. at least, over the CAD, AUD, CNY. Not denying USDs downfall here.

Thu, 08/11/2011 - 12:26 | 1551248 Ghordius
Ghordius's picture

I love the EUR too. And the CHF even more. But under the shower I sing about... ends with ...old

Thu, 08/11/2011 - 12:30 | 1551261 Spitzer
Spitzer's picture

The CAD is part of the dollar bloc. The Royal bank of Canada is a primary dealer for the Fed. Not denying a USD downfall from here ? Good luck with the CAD.

Thu, 08/11/2011 - 14:20 | 1551554 ZeroPower
ZeroPower's picture

PDs of the fed have little to do with one's currency sustainability. Thank you, i will keep my CAD, as the EUR goes to shit (although in my opinion never does get dissolved just cause the cheerleaders over here in the UK {cheaper GBP} and in EU love it too much) and USD stays reserve currency albeit nowhere near as superior as pre 2000s.

Thu, 08/11/2011 - 16:24 | 1551945 eureka
eureka's picture

You are completely blindly submissive to US hegemony. UK sucks US cock. US is 100% morally bankrupt and it is going down - whereas EU is going up. Fuck Time Ragazine. Fuck CIA and fuck the US criminal elite. Long live the US Republic - if US'ians can ever get their brains and hearts working and kill off its Hegemon masters.

The only chance for the US is social-spiritual revolution into national oneness - meaning dropping Chi-merica and US military empire, in favor of US manufacturing and R&D renainsance and self sufficiency. As it is everyone is the US hates everyone else - and anyone who thinks unlimited provincial self-love is a foundation for a world reserve currency is, perhaps not an idiot, but most certainly an entertainer of idiotic thoughts.

US has tried to destroy EU and the EUR ever since the US slavemasters realized EU and EUR were getting way to strong way too fast for USD/military hegemony to prevail - but alas, the US slavemasters will fail to do anything but destroy their own HomeLand - so die in peace with your USD "world currency reseve" if you wish - along with its insignificant CAD appendix.

Thu, 08/11/2011 - 17:08 | 1552124 Rodent Freikorps
Rodent Freikorps's picture

Americans all have big penises, too.

Life is just unfair sometimes.

Thu, 08/11/2011 - 19:37 | 1552512 eureka
eureka's picture

It would seem logical and obvious that only men with small penises feel a need to dominate other men.

Thu, 08/11/2011 - 11:40 | 1551083 Popo
Popo's picture

LOL.  How much is ADIDAS hating that publicity?!   Heheheheh....

Thu, 08/11/2011 - 12:33 | 1551269 Ghordius
Ghordius's picture

Ask about how much the poor Brits are hating to be in the spotlight with their "yobs" and their activities. Cameron is furious, he had to leave the Toscana for this...

They had since years some alarm bells ringing that they choose to ignore - several countries around the UK were banning British soccer "hooligan" fans from their stadions, complaints, etc. etc. Even the words Yobs and Hoodies - most other EU contries lack even the vocabulary for this phenomenon.

Thu, 08/11/2011 - 17:57 | 1552299 Incubus
Incubus's picture

Better that you're on the mind than naught.  Y'know: no publicity is bad publicity.

Thu, 08/11/2011 - 11:43 | 1551097 heyligen
heyligen's picture

Next Pentagon priority: war on protest.

Thu, 08/11/2011 - 11:51 | 1551127 Freddie
Freddie's picture

Destroyed by open borders letting uncivilized people from uncivilized countries flood in.  All done by the elites/left.

Thu, 08/11/2011 - 11:00 | 1550887 THE DORK OF CORK
THE DORK OF CORK's picture

This is bullish for Europe - I am all in.

Thu, 08/11/2011 - 11:33 | 1551047 monkeyboy
monkeyboy's picture

Definitely bullish for Adidas.

Thu, 08/11/2011 - 11:00 | 1550888 Cognitive Dissonance
Cognitive Dissonance's picture

Ahhh, the good old days.

Thu, 08/11/2011 - 11:00 | 1550889 Manzilla
Manzilla's picture

And of course they found a guy in Adidas sweats.


Thu, 08/11/2011 - 11:03 | 1550905 SheepDog-One
SheepDog-One's picture

Better to have been a Lulu Lemon yoga outfit....come on photgraphers of the apocolypse, get your shit together.

Thu, 08/11/2011 - 11:09 | 1550927 Cognitive Dissonance
Cognitive Dissonance's picture

Better to have been a Lulu Lemon yoga outfit....

Close enough for government work.

Lululemon yago pants

Thu, 08/11/2011 - 12:31 | 1551266 williambanzai7
williambanzai7's picture


Thu, 08/11/2011 - 11:00 | 1550893 slow_roast
slow_roast's picture

Maybe the looters were just protesting short selling?


Thu, 08/11/2011 - 11:01 | 1550897 SheepDog-One
SheepDog-One's picture

'Decline and fall' is rapidly outpacing 'hide it with layers of fiat' now. 

As the once thriving Borders shopping mall across the street is now a ghost town, once frequented by Bed Bath and Beyond and retail book shoppers, now crack dealer and hooker central. 

Paper on, Ben and Timmay.

Thu, 08/11/2011 - 13:04 | 1551359 Freddie
Freddie's picture

Hope and Change = destroying America.

Thu, 08/11/2011 - 11:02 | 1550900 BeerGoggles
BeerGoggles's picture

Easy buy.

Fade zero hedge at the moment as they are releasing bullshit rumours and causing the market fall.

Thu, 08/11/2011 - 11:05 | 1550914 SheepDog-One
SheepDog-One's picture

Do you ever even attempt to make a comment based upon the topic at hand at all or are you drunk or something? What is your comment even supposed to mean?

Thu, 08/11/2011 - 11:20 | 1550964 DonnieD
DonnieD's picture

He's trying to expain that the pandemonium we're seeing has nothing to do with bankrupt governments and banks but rather it is due to a website.

Thu, 08/11/2011 - 11:27 | 1551022 SheepDog-One
SheepDog-One's picture

Right he's got it figured out, Zerohedge caused it.

Thu, 08/11/2011 - 11:33 | 1551045 Doubleguns
Doubleguns's picture

I thought it was Bush.  It works for BO.

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