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bdc63
Schumpeter Reincarnate


Joined: 16 Feb 2007
Posts: 4392
Location: Maryland

Tomorrow (10/26) is the BIG day ...
PostPosted: Tue Oct 25, 2011 5:34 pm Reply with quoteBack to top

... when Europe gets "saved" ...

it will be fun to finally see the details (or lack thereof), and even more fun to watch the market reaction.

anybody wanna stick their necks out with some preditions?

_________________
"Socialism only works in two places: Heaven where they don't need it and h*ll where they already have it." -- Ronald Reagan
"Everybody, sooner or later, sits down to a banquet of consequences." -- Robert Louis Stevenson
“Gold is money. Everything else is credit.” -J.P. Morgan, testifying to Congress in 1912
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dreamer
Demolition Man


Joined: 09 Aug 2007
Posts: 2101
Location: Northern California

Re: Tomorrow (10/26) is the BIG day ...
PostPosted: Tue Oct 25, 2011 6:42 pm Reply with quoteBack to top

Nothing to materially change other than the MSM touting each new and final solution...

PTB kicking the can down the road and the sheeple to the curb. Just BS to continue the plan herding us to global finance and gov't...bye and bye.

Wonder what the final solution will be...probably a holocaust for da sheeple.

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There isn't anything so bad that the Government can't make worse...

The 4-functions of government today are the same as a criminal enterprise: Lie, Cheat, Steal, and Kill...
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bdk
Wrecking crew


Joined: 24 Mar 2008
Posts: 1611
Location: Hell

Re: Tomorrow (10/26) is the BIG day ...
PostPosted: Tue Oct 25, 2011 6:49 pm Reply with quoteBack to top

theyll just run the printing press like everyone else...

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Remember remember the fifth of November. Gunpowder, treason and plot. I see no reason why gunpowder, treason
Should ever be forgot...
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bdc63
Schumpeter Reincarnate


Joined: 16 Feb 2007
Posts: 4392
Location: Maryland

Re: Tomorrow (10/26) is the BIG day ...
PostPosted: Wed Oct 26, 2011 11:51 am Reply with quoteBack to top

Merkel Goes For The Nuclear Mutual Assured Destruction (But Mostly Suicide) Option

As Merkel ends her speech to the Bundestag on her way out to the Euro Summit, here are the main rhetorical conclusions:

MERKEL SAYS JUSTIFIABLE TO MAXIMISE EFSF FIREPOWER
MERKEL SAYS GERMANY `IS NOT THE NAVEL OF THE WORLD'
MERKEL SAYS EURO CAN'T BE ALLOWED TO FAIL
MERKEL CITES 'HISTORIC DUTY' TO PRESERVE EUROPE, EURO
But none of that compares to what just was the use of the nuclear mutual assured destruction option, to wit

Merkel: No one should take another 50 years of peace in Europe for Granted (per DJ)

And scene: Hank Paulson would be so proud

http://www.zerohedge.com/news/.....ide-option

_________________
"Socialism only works in two places: Heaven where they don't need it and h*ll where they already have it." -- Ronald Reagan
"Everybody, sooner or later, sits down to a banquet of consequences." -- Robert Louis Stevenson
“Gold is money. Everything else is credit.” -J.P. Morgan, testifying to Congress in 1912
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bdc63
Schumpeter Reincarnate


Joined: 16 Feb 2007
Posts: 4392
Location: Maryland

Re: Tomorrow (10/26) is the BIG day ...
PostPosted: Wed Oct 26, 2011 12:06 pm Reply with quoteBack to top

CNBC is now reporting that a 50% haircut on Greek debt is "a done deal".

Also, that there is no agreement yet on how to handle the other $100B of Greek debt

... or for that matter the trillion+ at issue in Italy ...

_________________
"Socialism only works in two places: Heaven where they don't need it and h*ll where they already have it." -- Ronald Reagan
"Everybody, sooner or later, sits down to a banquet of consequences." -- Robert Louis Stevenson
“Gold is money. Everything else is credit.” -J.P. Morgan, testifying to Congress in 1912
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bdc63
Schumpeter Reincarnate


Joined: 16 Feb 2007
Posts: 4392
Location: Maryland

Re: Tomorrow (10/26) is the BIG day ...
PostPosted: Wed Oct 26, 2011 2:55 pm Reply with quoteBack to top

Euro Titanic Taking On More Water With Latest Batch Of Headlines

http://www.zerohedge.com/news/.....-headlines

Quote:
The market is shocked, shocked, that the "groundbreaking" resolution (in Barroso's words) due for today is now nothing but a mirage:

EU Official Says Bank Heads Won’t Be at Summit Table Tonight

EU leaders may frame agenda for more bank talks on bondholder losses in 2nd bailout
pkg for Greece.

Says IIF doesn’t entirely represent private banks
And the kicker:

Says Greek debt swap would take several weeks
EURUSD now at the lows; its second derivative - stocks - will soon likely follow.


Stock market rallied on the open, but is now rolling over

_________________
"Socialism only works in two places: Heaven where they don't need it and h*ll where they already have it." -- Ronald Reagan
"Everybody, sooner or later, sits down to a banquet of consequences." -- Robert Louis Stevenson
“Gold is money. Everything else is credit.” -J.P. Morgan, testifying to Congress in 1912
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bdc63
Schumpeter Reincarnate


Joined: 16 Feb 2007
Posts: 4392
Location: Maryland

Re: Tomorrow (10/26) is the BIG day ...
PostPosted: Wed Oct 26, 2011 3:08 pm Reply with quoteBack to top

It's heating up in Italy...

http://uk.news.yahoo.com/itali.....13777.html

Quote:
Italian deputies exchanged blows in parliament on Wednesday as tensions over a tough economic reform programme came to a head.

_________________
"Socialism only works in two places: Heaven where they don't need it and h*ll where they already have it." -- Ronald Reagan
"Everybody, sooner or later, sits down to a banquet of consequences." -- Robert Louis Stevenson
“Gold is money. Everything else is credit.” -J.P. Morgan, testifying to Congress in 1912
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bdc63
Schumpeter Reincarnate


Joined: 16 Feb 2007
Posts: 4392
Location: Maryland

Re: Tomorrow (10/26) is the BIG day ...
PostPosted: Wed Oct 26, 2011 3:47 pm Reply with quoteBack to top

Lines to Withdraw Deposits Queue Up as Run on the Banks starts in Greece

http://globaleconomicanalysis......up-as.html

_________________
"Socialism only works in two places: Heaven where they don't need it and h*ll where they already have it." -- Ronald Reagan
"Everybody, sooner or later, sits down to a banquet of consequences." -- Robert Louis Stevenson
“Gold is money. Everything else is credit.” -J.P. Morgan, testifying to Congress in 1912
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bdc63
Schumpeter Reincarnate


Joined: 16 Feb 2007
Posts: 4392
Location: Maryland

Re: Tomorrow (10/26) is the BIG day ...
PostPosted: Wed Oct 26, 2011 6:11 pm Reply with quoteBack to top

BREAKING NEWS: "we have agreed to absafuckinlutely nothing; we'll meet again in a month, where we will again agree to absafuckinlutely nothing"

okay, so I paraphrased ...

Here's the 3 page press release they published following the meeting ... THREE PAGES ... and it's freakin DOUBLE SPACED! We are so f*ckin doomed.

http://www.zerohedge.com/news/.....-statement

CNBC is referring to this as "good progress" ... WF? And the stock market is rallying on the news of another plan to create another plan ...

_________________
"Socialism only works in two places: Heaven where they don't need it and h*ll where they already have it." -- Ronald Reagan
"Everybody, sooner or later, sits down to a banquet of consequences." -- Robert Louis Stevenson
“Gold is money. Everything else is credit.” -J.P. Morgan, testifying to Congress in 1912
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bdc63
Schumpeter Reincarnate


Joined: 16 Feb 2007
Posts: 4392
Location: Maryland

Re: Tomorrow (10/26) is the BIG day ...
PostPosted: Thu Oct 27, 2011 1:05 pm Reply with quoteBack to top

They got a Greek debt deal done in the wee hours of the morning ...

Banks have "volunteered" to take a 50% haircut on the Greek debt they hold. Since its voluntary, it's not going to be considered a 'credit default event' Rolling Eyes . After this, why would anyone in their right mind EVER buy government debt - with or without protection - again?

The 50% haircut doesn't apply to the debt held by the ECB or the Troika loans, so the relief to Greece is more like 28% when all outstanding debt is considered. We will soon see if that is really enough.

And EFSF was expanded via leverage to over a trillion euros, assuming they can get the chineese to fund it ... gee, I wonder what they will ask for in exchange for THAT ...

_________________
"Socialism only works in two places: Heaven where they don't need it and h*ll where they already have it." -- Ronald Reagan
"Everybody, sooner or later, sits down to a banquet of consequences." -- Robert Louis Stevenson
“Gold is money. Everything else is credit.” -J.P. Morgan, testifying to Congress in 1912
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