• BullionStar
    05/30/2016 - 21:24
    The US Gold Market is best known as the home of gold futures trading on the COMEX in New York. The COMEX has a literal monopoly on gold futures trading volumes worldwide, but very little physical...

Worldwide Markets Collapse Following Italian Bond Margin Hike

Tyler Durden's picture

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Wed, 11/09/2011 - 08:08 | 1860042 GeneMarchbanks
GeneMarchbanks's picture

Long time comin'

Rome Riot Cam?

Wed, 11/09/2011 - 08:27 | 1860122 homersimpson
homersimpson's picture

It's days like these why I hold FAZ. Nothing like a good defense against fraudulent stock markets and crappy economic policies born out of desperation and stupidity.

Wed, 11/09/2011 - 08:32 | 1860136 paarsons
paarsons's picture

Good Citizens of Metropolis!

Look on the bright side.

At least we aren't getting hit by the commet!

And the price of dog food is going down.

We can still feed our families.


Wed, 11/09/2011 - 08:47 | 1860190 trav7777
trav7777's picture

Sovereigns are the new subprime

Wed, 11/09/2011 - 08:51 | 1860207 markmotive
markmotive's picture

The Chinese central bank is loading up on gold. Are you?



Wed, 11/09/2011 - 09:05 | 1860254 disabledvet
disabledvet's picture

this is good for war too...

Wed, 11/09/2011 - 09:05 | 1860255 Snidley Whipsnae
Snidley Whipsnae's picture

Yes... for the last 44 years... but I'm only a transitory gold buyer.

Wed, 11/09/2011 - 10:42 | 1860661 Calmyourself
Calmyourself's picture

Cain screws up the race card for bammy..

Wed, 11/09/2011 - 08:32 | 1860137 DaBernank
DaBernank's picture

Good for you, FAZ up ~8% in pre.

Wed, 11/09/2011 - 08:46 | 1860186 Quinvarius
Quinvarius's picture

Poor robo.  He thought banks were a momo trade yesterday.

Wed, 11/09/2011 - 08:52 | 1860210 Big Slick
Big Slick's picture


Wed, 11/09/2011 - 09:13 | 1860281 LoneCapitalist
LoneCapitalist's picture

2112 = Best album ever!

Wed, 11/09/2011 - 08:33 | 1860139 Cdad
Cdad's picture

Personally,  I sold BLK...and bought TZA last night at the close.

Remember Larry Fink's comments about a month ago:  "Make them buy equities."  I'm sure he was also in the crowd saying, "US exposure to European debt is manageable."  Uh huh.  Of course, just three days ago we had Reuters confirm that BLK had been buying Italian debt.

Larry Fink better hope that accounting does not come back into style any time soon.

Wed, 11/09/2011 - 09:11 | 1860273 MsCreant
MsCreant's picture

Counterparty Risk. 

Mother Fucking Global.

Good luck.

Wed, 11/09/2011 - 08:29 | 1860128 Cash_is_Trash
Cash_is_Trash's picture

Note to self: Bring motorcycle helmet to riot.

Wed, 11/09/2011 - 08:56 | 1860224 krispkritter
krispkritter's picture

Bread helmets for everyone! http://www.motifake.com/bread-helmets-bread-egypt-protest-stupid-helmet-demotivational-posters-133956.html

And buy your peanut butter and jelly now while you can still afford it...

Wed, 11/09/2011 - 09:08 | 1860267 Cash_is_Trash
Cash_is_Trash's picture

Peanut butter and jelly padding!

Wed, 11/09/2011 - 08:38 | 1860165 slaughterer
slaughterer's picture

This decline will only be a one-day aberration.  Once the Italian bondholders clear up their margin hikes, and the world's leaders step in with their ingenious plans, the market will continue its rally into Christmas.  No need to worry.  BTFD. 

Wed, 11/09/2011 - 08:44 | 1860182 writingsonthewall
writingsonthewall's picture

I think you'll find the market is long on bullshit and short on suckers.


Please - go right in, your BTFD in Italian debt - I mean it's cheap - therefore it must be good value!!


Wed, 11/09/2011 - 08:45 | 1860045 Minoan
Minoan's picture



Wed, 11/09/2011 - 08:05 | 1860046 Alexmai
Wed, 11/09/2011 - 08:08 | 1860053 knight99
knight99's picture

sometimes the easiest trade can be the hardest trade. Eur 1.15 first target here's hoping. Now that Italy 10 yr has well passed the point of no return for thier bond yeilds 7% and no CDS to protect anyone buying it (making it an untouchable) we have two options print or default either one leads to a much much lower Euro. That being said will cover half my position on a close above 1.371 and will live to fight another day.

Wed, 11/09/2011 - 08:17 | 1860082 Vampyroteuthis ...
Vampyroteuthis infernalis's picture

EUR to parity with the USD. It is even a more worthless piece of paper. The US can learn something. A populace run by corrupt bankers who allow their citizens to do nothing leads to nothing but bankruptcy.

Wed, 11/09/2011 - 09:10 | 1860271 GMadScientist
GMadScientist's picture

This is like one of those horrible limit problems from first year calculus...is there anything we can cancel out between the two monotonically declining geometric series?


Wed, 11/09/2011 - 21:28 | 1864057 StychoKiller
StychoKiller's picture

Both series are being swamped by the large 'Stupidity' series involved...:>D

Wed, 11/09/2011 - 09:06 | 1860261 jdelano
jdelano's picture

agreed.  this trade has taken more resolve than any I've ever attempted.

Wed, 11/09/2011 - 08:22 | 1860097 Schmuck Raker
Schmuck Raker's picture

Is this a great f'n country, or what?

Wed, 11/09/2011 - 09:03 | 1860247 Snidley Whipsnae
Snidley Whipsnae's picture

Gave you a + Schmuck Raker... even though I am leaning toward the 'or what'. :)

Wed, 11/09/2011 - 08:26 | 1860114 chunga
chunga's picture

Ho! Ho! Ho!

Wed, 11/09/2011 - 21:27 | 1864052 StychoKiller
StychoKiller's picture


it turns out that pushing back reality indefinitely always comes back to bite you in the ass eventually. [/quote]

Translation:  Ayn Rand was right!

Wed, 11/09/2011 - 08:45 | 1860185 duo
duo's picture

One of the few bright spots in the Michigan economy (X-mas trees), and Obamao has to screw that up.

There should be a $10 tax on landfill-clogging Chinese-made plastic Christmas trees.

Wed, 11/09/2011 - 08:51 | 1860204 Bobbyrib
Bobbyrib's picture

A tax to promote Christmas trees? You can't make this shit up!


Chicago is one hell of a city. The only other place you could find corruption this bad is in NJ.

Wed, 11/09/2011 - 09:16 | 1860297 El Viejo
El Viejo's picture

You can't tax a religion unless of course words are spoken from the pulpit that politicians don't like. Sound Familiar? (Think prewar Germany)

Wed, 11/09/2011 - 09:17 | 1860302 CH1
CH1's picture

Sadly, that's not entirely true. New Orleans, for example.

And of course, Washington. The gang there still wears "constitution clothes," which covers some of their corruption, but the city oozes it.

Oceans of other people's money + nameless bureaucrats = incurable corruption.

Wed, 11/09/2011 - 09:06 | 1860260 Oleander
Oleander's picture


Wed, 11/09/2011 - 21:33 | 1864082 StychoKiller
StychoKiller's picture

Which reminds me -- time to put the XMas lights up outside on the spruce tree.  What a barbaric waste of tree sap to cut down a tree and drag it into yer house -- why not just get some pine-scent air spray, and an artificial tree  instead?

Wed, 11/09/2011 - 08:06 | 1860047 Oh regional Indian
Oh regional Indian's picture

There you go. 6% is now history. 7% is now taken. All these NUMBers. NUMBers. Still, Italy is safe. Very safe. Vatican back-stop safe. 

What is happening to Spanish Debt? Is Santander sweating?

Europe will finally slide on Spain.


Paying Attention

Wed, 11/09/2011 - 08:09 | 1860057 Raskolnikoff
Raskolnikoff's picture

what does the Vatican have to do with modern history? What do your brains have in common with your opinion...? these questions have the same answer.

Wed, 11/09/2011 - 08:13 | 1860073 Oh regional Indian
Oh regional Indian's picture

Well Rasko, from your comment, you sound like you would bleat when you speak.

Bleat, get it? Keep believing your sanitized version of history. It will, like the last line of thsi article, come and bite you in the ass.

Do a little Google search: Vatican Broken Cross for starters. Or don't. You sound like a conformist.


Wed, 11/09/2011 - 08:49 | 1860196 trav7777
trav7777's picture

as opposed to your secret (made up) history that has no connection to anything that ever really happened?

There was a time when the Pope raised armies and fought wars on his own dime.  That time has long passed.

Wed, 11/09/2011 - 08:52 | 1860209 Oh regional Indian
Oh regional Indian's picture

Trav, when you've finished about 5 books on the topic, get back to me. 

There is real history and there is consensus, victor written history.


Wed, 11/09/2011 - 09:55 | 1860473 mick_richfield
mick_richfield's picture

What books would you recommend, ORI? 

How about your top 5 on this topic?

Wed, 11/09/2011 - 18:30 | 1863402 Oh regional Indian
Oh regional Indian's picture

How about starting with one....


And here : http://arcticbeacon.com/books/Almanac_of_Evil.pdf

If you can wrap yoru head around them....then....many many more. But only if you were serious.


Wed, 11/09/2011 - 21:40 | 1864110 StychoKiller
StychoKiller's picture

I'm of the opinion that the age of kali will end in 2012, what do you think?

Wed, 11/09/2011 - 08:19 | 1860083 LeBalance
LeBalance's picture

The Roman (empire, Darth Vader, Emperor Palatine, etc) have Nothing to do with so-called modern history.

Don't look at the laurel wreath borber on the UN seal or any of the gazillion other places it is.  Don't let the symbolism harm your preconception of who runs this joint.


Reality is threatening.

Wed, 11/09/2011 - 09:15 | 1860294 GMadScientist
GMadScientist's picture

I've always been bugged by the fasces on the back of FDR dimes.

"From many, one" indeed...(as in, "and then there were...").

Wed, 11/09/2011 - 09:20 | 1860310 CH1
CH1's picture

Yes. Walk around Congress (also many monuments of DC) and you'll be much more bugged. Looks like freekin Rome.

Wed, 11/09/2011 - 09:54 | 1860468 RiverRoad
RiverRoad's picture

And how about "In God We Trust" on the back of the dollar bill of all places?!

Wed, 11/09/2011 - 08:33 | 1860142 my puppy for prez
my puppy for prez's picture

You obviously have NO idea what the Vatican is ALWAYS AND FOREVER up to!  It doesn't involve "sacraments", and it is NOT good!

Do NOT follow this link or you will be banned from the site!