I was just gazing out my window musing, and thought I’d share.
It is interesting to me that the haircut on Greek debt was negotiated to 50%. It’s interesting because the European banks are said to have about €200 billion in exposure to Greek bonds.
Now remember that the EU politicians are “simultaneously” pushing a bank recapitalization plan, which will require them to raise €100 billion by next Spring.
Coincidence?
I already sort of thought that the timing of the bank recapitalization was amiss; why have the banks compete against the EU countries to obtain funding?
But maybe when these European negotiators say that they want their banks to raise the hundred billion euros to satisfy the new international banking accord, what they really mean is they need their banks to raise the money or else.
I don’t think for a second that this just came up out of the blue. If the EU had done things the other way, and the banks had pushed to raise capital, they would have had a massive run. This way, the banks stand a chance.
But let’s not forget that the conditions are exactly the same. European banking (and demand) is about to take a big hit.
This right off isn’t free folks.
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Jesus, “write off.” And me stuck on an iPad.
just remember, two wrongs don’t make a right, but 3 lefts do.
Looks like it’ll be a big day tomorrow, asia, futures, and the euro blowing up big
I guess this is the begining of the end for the CDS mkts.
Not like the death of the CDS market is necessarily a bad thing.
I’d miss it, insurance is super useful.
Insurance is useful, but me being able to buy fire insurance on your house isn’t.
Ha ha the euro keeps shooting sperm in your eye and u really dont know what’s goin on do you mr Thaler
Will you be covering your short Cain?
TIA
Not yet.
What are some bank stocks to short based on this?
He’ll if I know I don’t touch banks.
Stay away from those sorts of businesses; it’s all confidence.
Sorry folks no good answers here nobody has been more wrong about the euro and the market than this stinking sack of shit. All ye who enter here hold your orders. Thaler is worthless
Fly fly do something
Somebody is calling me out on my shit blog
The euro is spit fucking you and it hurts Mr Cain not get it right
You show up after one announcement and think you’re clever? Oil is still trading below where I began shorting it, and the dollar is still stronger than where I called it a buy.
I have been “wrong” for three weeks. I’ve been nailing calls for three years.
Wow.. TO is a real prick..
ThE only thing you have been nailing is your own ass with a giant denial dildo the fly gave you
What’s a word that rhymes with planned?
Lol that’s Fly’s thing. I get paid by site traffic; let the retard where himself out.
I’m sick of you already. Come talk to me after you rebound a stock for 70% inside of 6 months (APC), short energy for a one day 26% gain (ERX), or leverage yourself into silver at the bottom of a credit crisis (70% of borrowed money).
He’ll i was shorting UCO in July for $42. It’s trading for $35 now. My God, the wrongness of my advice…so…terrible…
Hell* fucking iPad don’t tell me when I don’t intend to swear at someone.
You don’t know jack about fx. And it s quite obvious
@cheesefries It’s hard to rhyme planned. But how about the Fly and all his scrotum sucking minions just got royally fucked by the bulls?
I think Wood, Chess, and Ragin all called this.
You doth protest too much
Ha! You little scrotum sucker, the euro didn’t even pierce 1.4 on the euro/dollar. I was making my calls at 1.45.
The euro could rally 2-3% tomorrow and I could still call myself victor. You’re still a bitch.
Euro is done. OoooPs. You sir and the dollar are soon to be done. No less by a Greek!!!!!
Everyone is going to buy stocks like dumbasses in this but europe still won’t be saved. It’s like Tom hanks stuck on an island and they threw him a friend for Wilson to play with for awhile.
If this were just a “Europe sucks” thing I wouldn’t be short crude still. Remember people were saying the same thing about the U.S. when we were doing our thing.
The EU deal just doesn’t deleverage them, or help get their economies stronger. I think there are going to be fireworks soon, not just fireworks “eventually.”
All they’ve done is added more Jenga pieces. The foundation is what’s messed up so they add leverage.
Thank you Mr Thaler for a spirited eve. I will stop back
After I bank some more euro
Good evening! And well done
You’ll never stop back.
Within a matter of days the euro/dollar goes back to 1.3 and you slink off to hide until the next error I make…probably October 2012.
As a peace token I offer you MVO look at the div it will offset your terrible oil short
I will make sure to short it at the open you douche.
Are you on drum duty In Zuccotti park this evening?
not close I am at my winter home in West Palm. And you? Clown boy. Under a thruway perhaps?
How’s the value of the real estate market on winter homes doing in West Palm?
As a piece token you can kiss the crack of my ass.
Peace
HHonestly don’t know about the values. Been renting for years. Incredible deals
Now go to sleep. All of you I’ve got a busy day planned at the beach.
Short run euphoria followed by peasant riots. The world will not be enjoying Europe’s latest export, misery (inflation)