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

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Thu, 08/11/2011 - 07:23 | 1550090 achmachat
achmachat's picture

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

Thu, 08/11/2011 - 07:36 | 1550113 RollOver
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.

Thu, 08/11/2011 - 08:28 | 1550242 falak pema
falak pema's picture

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

Thu, 08/11/2011 - 07:42 | 1550130 unum mountaineer
unum mountaineer's picture

tell that to wamu

Thu, 08/11/2011 - 07:24 | 1550094 Cojones
Cojones's picture

La merde a battu le ventilateur.

Thu, 08/11/2011 - 07:38 | 1550122 breezer1
breezer1's picture

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

Thu, 08/11/2011 - 07:44 | 1550135 Stumpy
Stumpy's picture

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

Thu, 08/11/2011 - 08:43 | 1550304 Sudden Debt
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. 


Thu, 08/11/2011 - 07:26 | 1550096 slaughterer
slaughterer's picture

"Granted this is a downside case assessment."

Any upside?

<total silence>

Guess not!

Thu, 08/11/2011 - 07:28 | 1550101 slaughterer
slaughterer's picture

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

Thu, 08/11/2011 - 07:33 | 1550107 wombats
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.


Thu, 08/11/2011 - 07:54 | 1550161 Stumpy
Stumpy's picture

Pretty much red now.

Thu, 08/11/2011 - 08:21 | 1550226 Translational Lift
Translational Lift's picture

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

Thu, 08/11/2011 - 07:30 | 1550102 wombats
wombats's picture

Bullish for BofA?

Thu, 08/11/2011 - 07:32 | 1550103 BeerGoggles
BeerGoggles's picture

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

Thu, 08/11/2011 - 07:37 | 1550120 wombats
wombats's picture

Probably just have their URL conficated by Big SIS first.

Thu, 08/11/2011 - 07:39 | 1550124 Hedge Jobs
Hedge Jobs's picture

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

Thu, 08/11/2011 - 07:41 | 1550128 MsCreant
MsCreant's picture

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

Thu, 08/11/2011 - 07:47 | 1550144 slaughterer
slaughterer's picture

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

Thu, 08/11/2011 - 07:48 | 1550146 Bob
Bob's picture

So at least it will be immediately forgotten. 

Thu, 08/11/2011 - 07:33 | 1550104 slaughterer
slaughterer's picture

BOA = DOA (Already concluded last night here).  

Thu, 08/11/2011 - 07:34 | 1550108 Mad Mad Woman
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?

Thu, 08/11/2011 - 07:36 | 1550114 achmachat
achmachat's picture

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

Thu, 08/11/2011 - 07:41 | 1550129 centerline
centerline's picture

Yup.  You can eat that.

Thu, 08/11/2011 - 07:52 | 1550156 sabra1
sabra1's picture

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

Thu, 08/11/2011 - 07:56 | 1550168 Stumpy
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.

Thu, 08/11/2011 - 08:39 | 1550289 sushi
sushi's picture

Freeze Dried poutine.  Good for a decade.

Thu, 08/11/2011 - 07:34 | 1550109 chinaguy
chinaguy's picture

Viva La Lehman!

Thu, 08/11/2011 - 08:27 | 1550239 gwar5
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.

Thu, 08/11/2011 - 07:36 | 1550115 Paralympic Equity
Thu, 08/11/2011 - 07:36 | 1550116 TaxSlave
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.

Thu, 08/11/2011 - 09:56 | 1550608 Commander Cody
Commander Cody's picture

Capitalism?  I think we're bailing out fascists.

Thu, 08/11/2011 - 07:37 | 1550118 chump666
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.  

Thu, 08/11/2011 - 07:37 | 1550119 Re-Discovery
Re-Discovery's picture

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

Thu, 08/11/2011 - 07:38 | 1550121 twinshot
twinshot's picture

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

Thu, 08/11/2011 - 07:46 | 1550141 Stumpy
Stumpy's picture

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

Thu, 08/11/2011 - 07:41 | 1550125 vast-dom
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.......

Thu, 08/11/2011 - 08:21 | 1550223 Sudden Debt
Sudden Debt's picture

What exactly do they export?





Thu, 08/11/2011 - 08:33 | 1550258 Helmholtz Watson
Helmholtz Watson's picture

What exactly do they export?


Wine, stinky cheese and an exceptionally undeserved level of arrogance

Thu, 08/11/2011 - 07:40 | 1550126 mfoste1
mfoste1's picture

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

Thu, 08/11/2011 - 07:43 | 1550133 Bob
Bob's picture

More money always works . . . for banksters.

Thu, 08/11/2011 - 08:05 | 1550194 youngman
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 course...at least for two years...Banks always win

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

Thu, 08/11/2011 - 07:49 | 1550148 Peter K
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?

Thu, 08/11/2011 - 07:59 | 1550176 vast-dom
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.....

Thu, 08/11/2011 - 07:42 | 1550131 Yen Cross
Yen Cross's picture

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

Thu, 08/11/2011 - 07:42 | 1550132 Peter K
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.


Thu, 08/11/2011 - 07:43 | 1550136 Bazooka
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!

Thu, 08/11/2011 - 08:14 | 1550198 WonderDawg
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.

Thu, 08/11/2011 - 08:57 | 1550333 taraxias
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 :)

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