Today's Crunch Catalyst: Asian Banks Commence Cutting Credit Lines To French Banks, Sparking Self-Fulfilling Prophecies

Tyler Durden's picture

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achmachat's picture

physical bank run?
Dude... People have become way too passive for that!

RollOver's picture

Now people do it over "Le Internet", probably not while watching soup de jour, but while reading ZeroHedge. Me guessing the latter folks are plenty buy now.

falak pema's picture

rollover : plenty sell roll over and play it again Sam!

Cojones's picture

La merde a battu le ventilateur.

breezer1's picture

c'est diddely quack, quack diddely,'pooh'.

Stumpy's picture

Not "battu". More "frappé" or "atteint".

Sudden Debt's picture

Q. Why don't Master Card and Visa work well in France?

A. They do not know how to say "CHARGE!"

Q: Why did the French plant trees along the Champs Elysees?

A: So the Germans could march in the shade.


Q: What do you call a French man killed defending his country?
A: I don't know either, its never happened!

Q: What Does "Maginot Line" mean in French?
A: "Speed bump ahead" 

Q: Why do the French never perform “the wave” at a soccer game?
A: Because, that’s a gesture reserved for use only in time of war. 

Raise your right hand if you like the French ... raise both hands if you are French. 

"Do you know it only took Germany three days to conquer France in WWII? And that's because it was raining."

The French have only one actual fighting war hero, Joan of Arc, and they turned her over to the enemy!

Q: Why do people always talk about the 'foreign legion'?
A: They couldn't find any French to join! 

Q: Why did the French plant trees along the Champs Elysees?
A: So the Germans could march in the shade. 


slaughterer's picture

"Granted this is a downside case assessment."

Any upside?

<total silence>

Guess not!

slaughterer's picture

And with this news item, ES futures go RED.  This web site is dangerous.  

wombats's picture

WOW!  Not RED, but it really did drop.  Just a coincidence I'm sure... <snarc>

Actually I'm sure the reall reason for any drop is probably global warmin.


Translational Lift's picture

And....EU now considering a ban on short selling!!

wombats's picture

Bullish for BofA?

BeerGoggles's picture

Bloomberg were just saying yesterday how zerohedge caused many rumours. Guess ZH will be taken to court soon.

wombats's picture

Probably just have their URL conficated by Big SIS first.

Hedge Jobs's picture

in the world of B'berg, CNN, CNBC, fox truth = rumours

MsCreant's picture

No, called in front of congress to account for their traitorous actions.

slaughterer's picture

I think the algos just scan the headlines of ZH at this point.  Tyler is the global MM.    

Bob's picture

So at least it will be immediately forgotten. 

slaughterer's picture

BOA = DOA (Already concluded last night here).  

Mad Mad Woman's picture

I said a couple of weeks ago that France will be the first domino to fall. Looks like it's coming true. Lots of people thought Italy would be the 1st to fall. It's going to be France. Moody's and S&P already gave them the kiss of death whethere they realize it or not. 

Are your seat belts fastened? Got extra cash stashed? Stocked up on basic necessities?

achmachat's picture

Boxes of canned ravioli good until 2015.
Does this count as basic necessities?

sabra1's picture

damn!!! and i live in Quebec!!!!

Stumpy's picture

So do I. And I'm evaluating scenarios where I'm better off to my homeland region, far away from big cities and where fishing, hunting and gathering are a way of life. Forget gold and silver there though, not sure if people had ever seen an ASE or a Maple.

sushi's picture

Freeze Dried poutine.  Good for a decade.

chinaguy's picture

Viva La Lehman!

gwar5's picture

I thought you were off to buy more farmland, CG -- I'm with you on there, but gonna sit tight on my PMs too. 

The wobbly banks/sovereigns leaves few other options. Rolling economic blackouts appear to be in our future.

TaxSlave's picture

It's not bailing out capitalism.  It's killing capitalism.

What if the sheeple decide not to be enslaved by these debt-bonds?

That's right.  REPUDIATE!

This is the culmination of a century's worth of effort to make every citizen of the world beholden to the central banks through money-printing.  The only monkey wrench in the works is the internet.  People are waking up to the fact that they are being impoverished by money-printers, and waking up to the fact that the plan is to make them slave away forever to pay off paper-money debt with real goods.  A burden that can never be paid off.

It WILL NEVER be paid off.  The only question is, will you consent to be enslaved by them for it?

I say, it's not my debt, and I'm not paying it.  Let the damned banks fail.

chump666's picture

the chinese are terrible investors, good savers, just have no idea how to invest in modern markets.

ez indexes are going red again.  

Re-Discovery's picture

... and it means the Fed will be extending $1 trillion in bailout funds to Eurozone as worthless fiat goes global.

twinshot's picture

"a battu" ? "frappe" je pense mais pas battu, non?

Stumpy's picture

In Quebec, we would have said: "la marde" and not "la merde".

vast-dom's picture

So how is France not BBB+? What exactly is their true GDP? What exactly do they export? What do they exactly produce?


And then apply very same questions to the good ol' US of A.......

Sudden Debt's picture

What exactly do they export?



Helmholtz Watson's picture

What exactly do they export?


Wine, stinky cheese and an exceptionally undeserved level of arrogance

mfoste1's picture

EZ bank collapse, but US taxpayers will probably bail them out again, even though its obvious it doesnt work anymore

Bob's picture

More money always works . . . for banksters.

youngman's picture

About a month ago the Fed reopened up the cash window for Foreign banks....seems to me they knew what was going to happen....don´t worry the USA WILL be bailing out Europe......Secretly of least for two years...Banks always win

Tyler you need a checklist on your predictions.....I think we will hit one every week...

Peter K's picture

And to think that the "silver bullet" to the present situation is for the Germans to pull out of the Euro. But that would bring to an end the 4th Reich (and the lastest socialist experiment)prematurely. But we can't let that happen, now can we?

vast-dom's picture

No not quite: 4th Reich REGROUPS and functions not as "partner" but as discount PURCHASER of Euro BARGAINS! And the war is won, sort of.....

Yen Cross's picture

  And scumbag European Bankers buying dollars, to hide in Bernankes ass cheeks!  I'm livid!

Peter K's picture

Socialism in its death throes.  And I still think that the one with the least socialized government will be the one that will survive the best. I'm putting my money on post Soviet Europe and the US.


Bazooka's picture

I have not posted for quite a while but have been enjoying my HUGE profits in VXX, FAZ.

(Those who followed my earlier posts weeks ago and profited too, cheers!)

It's All the Same Market (R. Prechter). I believe the current massive divergence you're seeing in Gold and Silver means Gold will fall like Icharus with melting wings. The fall will be more swift than its rise from $900 has been. Many tears will be shed...except from those who hold cash and shorts.

Mighty profits await us!

WonderDawg's picture

I'm pretty much right there with you. I've been anticipating this for about a year. It's been a painful year, but it took less than 3 weeks to erase the gains the market has made in the last 12 months, so it appears those of us who didn't lose faith in Prechter after his numerous failed attempts to call a top are positioned favorably for this scenario.

taraxias's picture

You mean there's someone out there who actually listened to Prechter and is still solvent?!!!!!

I'm never ceased to be amazed on here :)