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Apparently there's absolutely nothing in the world that qualifies as a CDS credit event.
Oh I bet the IRS figures out some way to say you were paid off...even though you were not...a paper gain...or something....a new rule number 12943756581918w375t537391..and a new form too
more like liar *ba dump cheek*
And people still can't figure out that any fiat is going to leave them screwed. Back up the truck, because that "eureka" moment is going to come soon in Euroland. And eventually Americans will understand it also.
Well that'll certainly make things interesting!
Interesting to say the least!
Grab a beer and pull up a chair.
Fiat? I don't even know what that is. I don't have time to learn, I have to set me DVR to watch Dancing with the Stars while I watch the E! miniseries about the Kardashian divorce and I almost forgot about tending my farmville crops on facebook.....
What were you saying?
The average American wouldn't understand the situation, or even care to understand even it if squatted over them and took a shit on their chest.
Average American wiping shit off his chest: "Isn't it that tiny car that's suprisingly big enough to accomodate J Lo's ass?"
hey, they are nice fantasy instruments to "trade" that have no connection to the real world.
this whole notion of using FX to make your exports more competitive...what bunk. Especially in fiatville, it just leads to poverty and war
"this whole notion of using FX to make your exports more competitive...what bunk"
exactly, on the long run FX devaluations don't help you at all
PM Berlusconi might perhaps even want to go back to the Lira but for the moment it will be very hard to find any majority in Italy, both left and right. Particularly on the left.
Italy doesn't have political majorities. It has coalitions. It's just a matter of placing one's bribes (or bets if you prefer) in the correct places.
Italy, unlike the other PIIGS except perhaps Spain, can produce everything that is necessary to feed, clothe, and move itself except perhaps some fuel that can be traded for a few Ferraris. They don't need the Germans.
That was a funny joke "except some fuel perhaps". The major part of italy's electricity production is from oil. Most of transportation infrastructure run on oil. Italy doesn't have a chemical industry anymore. And what about gas? Contrary to what you might think, although we have a long warm summer we also have a real cold winter. Also modern agriculture is based on artificial fertilizers which are made mainly using natural gas. Only that delusional of Mussolini could think of makin Italy self-sufficient, and it didn't really work (and it was 70 years ago, quite a different world...). If Italy would go back to Lira the cost of buying oil and raw materials on the market will produce hyper-inflation in a few months
The Chinese would like to have a word with you about that.
Although even they would admit that even they are reaching the limits of that particular scam.
The banksters lawyers are clever indeed with their wording. If this happens, the banks win. If that happens, the banks win. Thanks for paying your fee to us for CDS "insurance" when we've rigged the game. Love those pocket lining products. Bankers are gonna need to go back to the 3-piece so they have extra pockets in the vests as the raids pick up.
Damn, why didn't AIG think of that...
Suckerz! And all you CDS boys & girls thought you could out-do The Syndicate? Really? HAHAHAHAHAHAHAHAHAHA!!!! SUCKAZ!! Get physical bitchez. as in physical silver, gold, ammo, grub - paper is gonna burn bitchez, CDS paper bitchez - HAHAHA!!!
NEIN NEIN NEIN!!!
Redominate? I think so.
Berlusconi could use a good dominatrix about now.
My PAPY said Son yer gonna drive me ta drinkin, if ya don't stop drivin that HOT--ROD-- Lincoln.
Ill take the 10 yr Doucheland Bundos for +13.5 and some Ag for 32 Alex.
Actually this has been my theme song two years runnin':
looks like i'm not alone!
Well we could play Dueling Banjos and say SQUEAL LIKE A PIIG BOY
Pling pa pling pling pling pling pling pling pling
I think what Tyler is trying to say is:
"Arrivederci", European Union!
italy could quickly go rogue. quick export help from iran and syria. ding, ding, ding.
That's a SPICY a-meata-ball!
It's the end of the EU as we know it.
New porn fiat coming; bring back the lions in the Collesium; cover the politicians with sheeple blood before tossing them in the ring; would be greatest PPV event in history; here's my $239.00 (plus tax).
Those Italians seem to like to screw everything... but even Merkel? ARE THEY FUCKING BLIND?!!
this would be total suicide. Plus "there's an American Naval Base in Naples." Oh, and we just invaded Libya which is in total chaos. complications, complications, complications...
shudduppayouface and let em settl'a the bet-ta.
Meanwhile back at the Printers...
Time to smoke a Jeffery, and stroke the furry wall...
1. A command or act of will that creates something without or as if without further effort.
2. A shit Italian car.
I said in an earlier post - Lira here we come! Wasn't kidding. Is a definite possibility considering TD hit the nail on the head about Italian politico attitudes towards Merkozy gang.
Oh how I pine for a return of the different currencies - what trading opportunities.
I got to go take a cold shower before ........... OMG!
Italians following the German lead never ends well for either. After all is said and done, Italians just aren't Germans.
Given that many in the various EU countries used and remember their old school money, it seems it would be psychologically easier to revert than it would be to say, change one day out of the US dollar into something different for Americans. Is that correct and would it mean that if one country starts printing and circulating their own again, all the various printing presses would hum along after the first domino fell?
If they redenominate into lire, what about corporate bonds issued in EUR? Can corps also redenominate? If not, paying back EUR with devaued Lire will be pretty difficult
Not sure what you are all worried about? The EURUSD in the last hour has rallied almost 40 points! (Sarc) Hold those EUR shorts!
I have decided to redenominate my debt in used condoms and broken promises (rated by Moody's slightly better than broken condoms).
Don't worry, dear; it's only temporary inflation!
He who jumps first wins.
The leak about Berlusconi started long before the bond sqeeze. FT article suggesting berlusconi running to Putin bday says it all. He is perceived as too close. Wikileaks, Bunga bunga /tax scandel (Ozawa like), Italy opposition to Libya (call for halt) and Nabucco vs. Sud Stream etc (Eni). Berlusconi is a liability as Putin comes back into power in 2012 (berlsuconi ends term 2013). lay out the timeline. Hard to miss this with all that is happening in MENA & Missile Defense (NATO/Russia) & Vatican
Would be fun to see Sarkozy to deal with the French banking system.... (but wont happen, Lagarde IMF chief rings a bell!)Total Gov net liabilities (from SG study) + private sector debt % GDP:
France 549% / 155% (AAA)
Germany 418% / 128%
Italy 364% / 121%
UK 442% / 215%
Spain 244% / 171%
US 541% / 174%
A large wealth tax–and some have spoken of sums larger than €200 billion–could knock Italy’s public debt ratio down to 80% of GDP leaving total-economy debt where it is now, putting the country’s metrics on the level with some triple-A countries.
From CS study
Italy’s total economic debt is not high by euro-zone standards, and roughly the same as Germany’s. But that’s because private debt levels are low–and wealth levels high–while the state is hobbled with €1.8 trillion in debt
Yet Italian households have financial assets worth an estimated 180% of GDP and unmortgaged real estate worth more than 300% of GDP, and yields on these assets are far lower, posing a net drag on the economy as a whole. That’s extremely inefficient given that senior bankers are warning loudly of an imminent credit crunch given they can’t make profitable loans given their funding costs are rising with Italy’s sovereign yield.
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