What The XYZ!

Tyler Durden's picture

From Peter Tchir of TF Market Advisors


The fact that the global financial system hinges on these 7 sets of 3 letters is appalling and amazing.

If GS is the best and brightest the rating agencies are close to the opposite, yet somehow regulators let them set a ceiling on bank capital and now AAA or AAA on -ve watch could change the shape of Europe?

I still wonder whose face will be on the 1000 SDR bills - I was really hoping to survive without knowing these existed let alone that the fate of the world hung on the IMF's ability to use them.  Was the IMF truly ever designed to be involved in economies of the scale of Western Europe?  That they are so important to future is scary.

The ECB and FEd have more ability to change the crisis and swap current problems for future problems than any other entity out there. It seems shameful that Ben has more power than the president - at least when it comes to the economy.

CDS - nothing I can say is worse than what most people think and calling for exchange traded CDS will only be shouted down by those who think it doesn't go far enough and derailed by those who have no interest in seeing that happen.

I would have added IIF as another example but that would give them more credit than anyone other than politicians thought they had.

We could be down 40 points on the official downgrades - even though the market has known for awhile the ratings are a joke. We could be up 40 points on the IMF using our money and the ECB and Fed debasing our money. A truly strange world where it won't get truly better until it is really fixed - but too much existing money and power is too interested in keeping the losses off their books.

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Sudden Debt's picture


SheepDog-One's picture

All these shadow agencies have way more power than the president, so what good could Ron Paul do even IF he got in there?

kaiserhoff's picture

Hell yes, Shep.  You can't disinvent nuclear weapons.  Bernanke must go to prison, or worse because the future is watching.  Printing will always be more fun than taxing, or gawd forbid, reduced spending.  Traitor Ben must be stopped.  The Reichstag may yet do that, or even the CONgress, but the stakes couldn't be higher.

Deadpool's picture

upset the apple cart. prove once and for all the people have a voice. make us laugh.

TruthInSunshine's picture

The one phrase and one blueprint that should scare the ever living shit out of anyone who hasn't hedged against the greatest Ponzi scheme ever devised in the history of mankind accordingly (if one does know why & how it's a Ponzi, it's too late for you):

Fractional Reserve Banking

Modern Money Mechanics


Oh, sorry - here they are in acronym form:




It's all fun and games until global deleveraging takes place, banks with sucking chest wounds neither want or can afford to make loans, formerly voracious consumers kick the 9 HDTVs every three years habit and even cut up some of their credit cards (and don't want auto loans or mortgages at 3% interest rates), and The Bernank finds himself pushing on a rope that is tied to a debt/credit based fractional reserve created sham of an economy that's connected to a noose.

GeneMarchbanks's picture

'I still wonder whose face will be on the 1000 SDR bills'

Blankfein. Doin' Gods work.

TruthInSunshine's picture

The International Fractional Reserve Banking Cabal is not without a sense of humor, hence they will put the face of Ludwig Von Mises on the SDR currency.

e-man's picture




The fact that the global financial system hinges on these 8 sets of 3 letters is appalling and amazing.


There, fixed it for ya.

Taterboy's picture

AAA- Love em. They send a tow truck when the car breaks down.

LouisDega's picture

YYZ Neil Peart Bitchezzzz

Tsunami Wave's picture

WTI should be in there, and maybe EUR & USD.


And if you can trade them.. FAS and FAZ!

CClarity's picture

If ratings agencies, with prodding from Geitner and cohorts, are hoping this "threat" will help EZ countries ratify/approve a new treaty . . . they best recall how unmotivating the S&P downgrade of the USA in August was to our Congressinal folks.  

The notion that EVERYthing must go right for happiness to be experienced come Friday really means, game over.  Europe will not get this together in a credible way.  And the global glut of good news wil continue for the rest of the decade.  Not longer if we're lucky.

Johnny B Good's picture

Germany will agree to a bailout in the End, but not before there are rules in place that guarantee (!) that the money doesn't go down the drain, but is coming back in the future.


SheepDog-One's picture

Well, isnt what youre describing already called a 'BOND'?

Johnny B Good's picture

I am not one who believes that there will never be a Eurobond. Just not before there are ENFORCED rules to play by. Eurobonds now would just take the pressure off of the PIIGS. They never reform, the money is lost and the next crisis just a question of 'when' not 'if'.


You can not cure a druggy by providing him with his next shot.

Deprive him, then give him a perspective/job/whatever.

In THAT order.


Financial Markets and Eurobonds/Bailouts are exactly that: Junkies searching for next quick fix.

Sophist Economicus's picture

It seems shameful that Ben has more power than the president - at least when it comes to the economy.


So true.   The President is a big student of Profit/Earnings ratio - He deserves more cred

hugovanderbubble's picture










GeneMarchbanks's picture

UK is on mine... Merry Christmas.

hugovanderbubble's picture

UK still AAA rating with IRISH EXPOSURE?....uhmm what im doing wrong...

RBS still exists? -----------------------------THIS BANK IS CRAP

HSBC  ------------ Hong Kong Bubble.


BARCLAYS... uhmm ROyal family involved....

I agree with u GENE...u have access granted to crash this UK FARCE...




DESTROY BRITISH BANKS - or better... Attack the STERLING...Directly...


*AUSSIE BANKS another option...(relative pair trading)


And of course GENE,Wish U the same  have nice XMAS, and the most important thing HEALTH SIR.

Cdad's picture

 A truly strange world where it won't get truly better until it is really fixed 

Eggsactly!  Neither economies nor markets can turn around until the players involved in perverting them are gone.  Capital cannot form.  Businesses cannot plan.  People cannot get work or spend.  The banks are the very center of the problem...something most have known now for two years.

Roll on, Greater American Depression...roll on.

SheepDog-One's picture

Who is fixing anything at all? All I see anywhere are junkies with their hands out pleading for more free FED crack.

rambler6421's picture

YOu're also forgetting the PPT (Plunge Protection Team).


"I still wonder whose face will be on the 1000 SDR bills"


Duh.  Barry Soetero will be on that.



mayhem_korner's picture



FRN, FRN, where art thou FRN?

earleflorida's picture


my afternoon snack,...

thanks tyler & co.