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.If you enjoy the content at iBankCoin, please follow us on Twitter