iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
21,014 Blog Posts

Broken Elevator Action Awaits

On Sunday I was looking for “The Godfather of all Short Squeezes” and now I’m expecting “BROKEN ELEVATOR” trading “pin-action.” Why? Because this is retardoville, where life is stupid and nothing makes sense.

French 10 year yields are officially in the danger zone, +7% to 3.67% this morning. Wait, it gets better!

Italy +4.2% to 6.98%.

Spain +3.4% to 6.3%

Belgium +7.8% to 4.95%!

This is all too quaint for me to take in all at once. There is no way Europe gets out of this one. This is the “figure four leg lock” of bond squeezes. The wolves are clever animals. Instead of focusing their efforts on Italy and outliers like the homosexuals in Portugal, they went to the source and fucked them–France.

It’s so hilarious.

Prepare for zero bids and loose talk of insolvency. Over the past 5 years, Unicredit made over $60 billion in acquisitions. They just reported a fucking write-down of $14 billion+. ROFL. Meatballs.

At any rate, the end game, no matter what, will be the printing of magic money. Therefore, the gold/silver trade is as relevant as ever. There are no safe currencies, despite what that psychopath Bill Ackman believes, with regards to the Hong Kong dollar.

Off for an early business meeting.

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22 comments

  1. jimmy_two_times

    can the ECB print with Germany diggin their heels in?

    I think the Bernank doesnt want to miss this one either, but has to wait for max pain to hit the ink jet.

    maybe more pain to come before the presses fly

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  2. MarshalN

    Bill Ackman will lose gobs of money on that trade. Hong Kong has no reason to let the currency rise and the currency float is too small for anyone to bid against the monetary authority.

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  3. genghis khan

    “This is the “figure four leg lock” of bond squeezes.”

    Monsieur LeFly, I love your writing style. You sir, are indeed the Blogfather.

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  4. noodle

    I’m tired of Europe, just implode already.

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  5. Vegas Trader II

    TeabaggerOnYourBack, are you looking forward to your shit cookies and glass of warm piss from Santa??

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  6. wilmer

    If this kind of action doesn’t get the ECB presses up and running, then nothing will…

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  7. Yogi & Boo Boo

    Thanks for telling it like it is. Euroland is fuqued [sic]. Euroland will not print until it is far too late. The bond wolves are too quick. It’s like going to a dog fight with a chihuahua and going up against a jackal. (Yes, I know a jackal is not a canine, but it makes my point.)

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    • wilmer

      Actually a jackal is a canine. Your analogy is fine.

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      • Yogi & Boo Boo

        Aw shoot, I blew that one. I was thinking of a hyena, the big nasty spotted one. We’ve got a virtual menagerie of animals floating around the house. Jackal vs. chihuahua would be an interesting match-up.

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    • Mr. Cain Thaler

      Like a bear fight and you brought a Koala to spar a Kodiak.

      Don’t call me a Koala bear ’cause I’m not a bear at all…

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  8. checklist

    look, all of ye merry monsignors, simple:

    -french will fall if they don’t create currency

    -ONLY creating currency (i.e., creating currency, something that hasn’t happened in Europe in almost 20 years, a situation FAR, FAR harsher than the gold standard, which creates new currency every single day due ot gold mining, etc.) can solve the crisis.

    -its not THAT safe to assume Germany will endure with the path the Eurozone is on. Austerity in the trade deficit nations should cause massive recessions in all of those, making recession in Germany inevitable and in the US likely.

    Tread with care.

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    • checklist

      the market is pricing in debt monetization in Europe.

      thats the bet, long or short: will they or won’t they?

      The other possibility is the sudden rise of dual currency systems in preparation for smoothing a breakup of the eurozone.

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      • Mr. Cain Thaler

        Could be very nasty. The citizens in places like Italy or Greece would be very reluctant to switch to their new currencies, since they all know devaluation is coming soon thereafter.

        If Germany and France stay on the euro, they could experience very nasty inflation from off-book reserves of euros finding their way back from these places.

        If the EU breaks, then they need to replace all currencies; they can’t keep the euro.

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        • j

          Cain

          They’re all going except Germany and the smaller northern Euros.

          They can’t hold it back or its all going to the shitter France included. This to me means Fly’s prediction will come to light. They will print.

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  9. ALLPROz

    …not ascared…

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  10. j

    WTF

    Ackman now thinks he’s a currency guru and decided to bet on the HK dollar- a crrency that’s been pegged for 20 years. What an idiot.

    He reminds me of another hedge fund type from the late 80’s early 90’s that was taken out of a stretcher thinking he was a currency guru.

    Admittedly the HK is pegged so Bill won’t lose money, however he ought to be embarrassed touting such crap and investors ought to question his intelligence or lack thereof. What an idiot.

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  11. The Fly

    Naturally stocks go up on the news. Not selling, long into Armageddon.

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  12. George

    Somebody has to say it so as King of all Losers I must say that in the last few weeks you would have dome much better by doing a George Costanza.
    Just do the opposite of what you believe. Do a Costanza.

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  13. Goose

    Sweet Chin Music

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  14. Mike

    holding WNR and AG

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  15. Yabollox

    If they are going to run the printing presses, then one should not be in cash. cash will be diluted. Gold and Silver would seem obvious plays, but also corps that are money making machines.

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  16. 4fl3x

    These candles…they’re crazy!

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