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Watch Live First Merkel, Sarkozy, Monti Press Conference
It is in French but it is really a body language kinda gig. They promise to do everything they have to save the euro. In other words they are as clueless as always. The important thing is that Sarkozy just said they have agreed to abstain from making demand on the ECB. So...no more pressure to monetize?
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Europe going full Monti!
That, Mr. ponzi, woudl be a really really ugly sight.
But, all hands on deck for the Three Stooges.
BEtween them, they WILL deliver a "Unified" Europe.
Poor eurpoeans, literally and Figuratively.
ORI
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So I watched for a little while. And I have a finance degree from Paris School of Economics, so I know a little bit of French. These three (well, two, because Merkozy wouldn't let Monti get a word in edgewise) are not worried about the monetary stabileeteeee. The ECB should be completely and totally independent, according to Madame Merkel, sorry Frau Merkel.
Now for some uninformed opinion: This is exactly what the Germans want so that the rest of Europe can fall apart and then we can have Deutschland uber alles. Pick up the few things of value the other have because the Germans have collected all the euros with their better exports. We need to keep the euro valuable so that the Germans can buy the Parthenon, the Colosseum, etc. Nobody liked it when they went on the march to take these things over, so now they'll just buy them. Highest bidder (Germans or Chinese) wins the prize. And don't talk to us (ie, the Germans) about bank recaps or our debt to GDP, because we simply don't want to hear it.
Merkel: tum podex carmen extulit horridulum.
Three Tard Monti.
Et Bien mon cher je crois que ta traduction n´est pas exacte, la langue de Molière ça me connaît.
In Scott Fitzgerald language: Pal your translation is ...... crap, because it is not a translation but an interpretation.
Germany (merkel) is talking about changes in the treaty that will make the EU more intrusive in fiscal affairs of each country. Zarkozy is talking about an alternative that are discussed from other countries. They allude to December 9th as a date when results of discussion will made known.
POSSIBLE INTERPRETATION
So in English Germany pushing for a new Reich overseeing all the subjects of hte new empire. Sarkozy is saying there is a plan B (he does not say what but I could guess "vive la France et vive Le Franc!" that is Krauts go home).
OK HEDGERS: ONE DATE TO WATCH DECEMBER 9, WHEN SUPPOSEDLY PROGRESS IS ANNOUNCED. I THINK DRACHMA INTRODUCED BY CHRISTMAS IS DISTINCT POSSIBILITY, THEY COULD GET NASTY AND DO THAT JUST BEFORE DECEMBER 9TH. ON ST NICHOLAS DATE WHICH IS THE DATE USED FOR GERMANY FOR KIDS PRESENT. YA DAS DEUSTCHE MARK on St Nicholas day.
That would put all questions about Merkel to rest....(rimshot)
Mostly looks like S&M are saying "Yes, financial overlords. Right away oh great leaders of the monetary system." And, "Thank you Lloyd May we have another."
They are not clueless, traders are! Traders want a quick fix and there is no such thing, so bring on the news when there is any i.e. in about 4 to 7 years...
got any pics of them "doin it"?
http://expose2.wordpress.com
More press conferences should fix the problem.
Yes and international summits.
And to top it off... asinine rumors that betray simple arithmetic.
Yes of course, always the preferred vehicle to piss away additional taxpayer money in times of extreme economical distress. At a rate of € 37,000 per night our "beloved leaders" had a great time at the "summit" in Cannes, playing with their napkins at dinner.
Rather disturbing that these asswipes have been meeting at an almost daily basis of late, totally unaffected of the costs which they pass onto society.
Video conference anyone?
No i can't 2nd a video conference in the current hard times ...Skype would be free but then Bill Gates would be able to front run agreements
i don't think they should talk at all, just focus on their own mess which is where it's going to end-up anyway. You sort your shit out, i'll do mine and if you need assistence here's my finger, got it?
more (printing) press should fix the problem
Don't forget they have a "big" meeting scheduled in Dec. These are the most clueless fucks I've ever seen
Eurobonds are better for Germany then EFSF... at least if it fails, it doesn't put all of Europe's debt on Germany.
euro bonds make sense for NEW bond issues, not the polluted past ones. Let those burn. But that is a two step euro solution that requires fiscal union AND a two tier euro in the longer term. SO very very complicated with 17 members.
If you get it wrong to start off with its too late to put the genie back in the bottle. Eurozone is now half pregnant, half non pregnant woman; figure that out!
What if the ECB starts printing on its own? The new ECB head is an Italian after all. Will Germany simply walk away from the Eurozone and re-launch Deutschmark?
"Those profligate idiots have a German pope and an Italian central banker."
Kyle Bass for president, if we can get him to take the massive pay cut.
The US is beyond repair. No president can solve the problems in the US. We are doomed to a great crash...
Tyler, its Thanksgiving day. You deserve a rest and have earned many thanks to give to you!
Another conference, lots of pretty flags, lots of staaabbbeeeebelletteee talk, same old same. And down goes the euro. Either print or go home.
Vomitorium time! Euro bonds are the only solution. Merkoszy knows it.
Solution to what?
It's kinda creepy the way those EU flags are sneaking up behind the sovereign flags. WATCH YOUR BACK!
Hey Kids! What time is it? It’s Howdy Doody Time!
Puppets......Sellouts......Traitors to their people.
If our banks fail the Fed's stress test, what are we going to do? 21% decline in house prices? KABOOM!!!!
Upcoming Case-Shiller Report and The Fed Reserve Comprehensive Capital Analysis and Reviewhttp://confoundedinterest.wordpress.com
So what is the takeaway?
1. Adustment of Italian deficit targets according to economic cycle (perhaps).
2. Treaty needs to be changed (no details).
3. Angie is still against Euro-bonds, although Monti thinks they contribute to EU fiscal union.
4. Sarko no longer going to pressure for ECB monetization.
Is that it?
We have three versions of the same truth : shades of RASHOMON.
But...the Director of this movie is NOT Kurosawa....so, watch them going in all directions and the market saying, this doesn't make sense.
"Sarkozy just said they have agreed to abstain from making demand on the ECB"
That is total ***king Bull***!
Perhaps he meant: "No more PUBLIC demands on the ECB."
Hide those dirty undies, children are looking!