Uhh oh. - Krauts Refuse To Carry Euro Bailout Burden

[JJ.G0ldD0t]

It Just Went From Bad To Far, Far Worse As Germany Says Italy Is Too Big For EFSF To Save, Refuses To Carry Euro Bailout Burden


:o

Link to Article (http://www.zerohedge.com/news/it-just-went-bad-far-far-worse-germany-says-italy-too-big-efsf-save-refuses-carry-euro-bailout-)

EDIT: Fixed link. -Gaillo

[solid]

It's happening, things are picking up pace. With our rating downgraded on top of this, all happening over the weekend. I wonder what is going to happen Monday morning.

[platinumdude]

I don't think I will be able to get my remote property in time.

[JJ.G0ldD0t]

It's happening, things are picking up pace. With our rating downgraded on top of this, all happening over the weekend. I wonder what is going to happen Monday morning.



That's what I'm thinking - Monday is gonna be ugly. Add into the equation that China scolded the US after we got busted from AAA and said that they would be accelerating their exit from US treasuries.

http://www.businessinsider.com/china-debt-addiction-short-sighted-2011-8

This thing is starting to unravel.

[palani]

Their last chance .. beg Zimbabwe to bail out the EU.

[Spectrism]

When I heard the Germans were supposed to take on all the debt of Europe, I thought that is pfugginstupid.... why would they put up with that? I guess they thanked the Euro Chiefs for the opportunity, but decided they would just sit this dance out.

Now it will be the IMF and US funding.... once we declare to all that we don't need China or any other lender, and that we have the federal reserve printing all the money we want, we will gladly take on Europe's debt.

[Blink]

Good fear punch for the weekend. Not much to do except enjoy and await Monday's opening........

[JJ.G0ldD0t]

http://www.youtube.com/watch?v=JQqF37v_UYk&feature=player_embedded#at=40

[JJ.G0ldD0t]

Financial crisis: G7 finance ministers to hold emergency conference this weekend



http://www.telegraph.co.uk/finance/financialcrisis/8685952/Financial-crisis-G7-finance-ministers-to-hold-emergency-conference-this-weekend.html

[Ares]

This will be the E-trade baby on Monday.


http://www.youtube.com/watch?v=7YEPUswpbMc&feature=player_embedded

[Dogman]

Soon to be heard , a world wide sucking sound as the world in general goes into into the shiter.

[madfranks]

Watch for the stock market to drop like a rock Monday morning, also watch for gold and silver to tank as investors sell off huge amounts to cover their margins.

[Uncle Salty]

The Donkey punch seems to be getting closer and closer.

[Eyebone]

To Big To Bail......

[JJ.G0ldD0t]

To Big To Bail......


LOL

That's the one I was looking for. Nice one.

[Spectrism]

I think the market is kicking more than the pump monkeys can counter. Perhaps a revolution can learn from such an event. The only problem is direction.

[gunDriller]

Watch for the stock market to drop like a rock Monday morning, also watch for gold and silver to tank as investors sell off huge amounts to cover their margins.

that's the question, isn't it.

it's good to be patient. but i'm just not sure gold will go into the crapper. people will have to put their money into (vomit) dollars, and then into gold. since they can't trade their GE shares, or financial instruments directly for Au.

so i think the financial world will be staring at the edge of the black hole they've been avoiding.

i think this will hammer Ag more. it's true, 'weak hands' will have to liquidate paper positions, and since the paper market sets the price, physical will follow ... as long as there's physical.

if gold fell to $1500, i would expect a 'short circuit' - it will become un-available. if 1% of the the world's investors decided to buy a single ounce - that would be 60 million ounces.

production being 2400 tons, that's 72 million ounces.

between China using their $3+ Trillion worth of US $ reserves to buy something of value ... toilet paper ... i bought a brass toilet paper dispenser at a garage sale this morning ... anyway, between individual investors & China buying ... they use up the year's production real quick.

so gold purchases must be met with gold sales. even Jim Rogers is saying that, although he's not buying any more, he's holding ... no selling.

i wouldn't be surprised to see some 'blippy' short lived buying opportunities. and i wouldn't be surprised to see gold break the $3K barrier.

we need a smaller dollar symbol to represent the shrinking dollar.


i wonder how this will affect the industrial metals, copper aluminum steel iron etc.

[Dogman]

that's the question, isn't it.

it's good to be patient. but i'm just not sure gold will go into the crapper. people will have to put their money into (vomit) dollars, and then into gold. since they can't trade their GE shares, or financial instruments directly for Au.

so i think the financial world will be staring at the edge of the black hole they've been avoiding.

i think this will hammer Ag more. it's true, 'weak hands' will have to liquidate paper positions, and since the paper market sets the price, physical will follow ... as long as there's physical.

if gold fell to $1500, i would expect a 'short circuit' - it will become un-available. if 1% of the the world's investors decided to buy a single ounce - that would be 60 million ounces.

production being 2400 tons, that's 72 million ounces.

between China using their $3+ Trillion worth of US $ reserves to buy something of value ... toilet paper ... i bought a brass toilet paper dispenser at a garage sale this morning ... anyway, between individual investors & China buying ... they use up the year's production real quick.

so gold purchases must be met with gold sales. even Jim Rogers is saying that, although he's not buying any more, he's holding ... no selling.

i wouldn't be surprised to see some 'blippy' short lived buying opportunities. and i wouldn't be surprised to see gold break the $3K barrier.

we need a smaller dollar symbol to represent the shrinking dollar.


i wonder how this will affect the industrial metals, copper aluminum steel iron etc.

$ Too be , was $

[gunDriller]

one question which presents itself - what's a better 'deal', silver at $38.32 or gold at $1663 ?

in the long run, i think silver at $38 is a better deal. but i also think margin calls, panic, economist heart attacks, etc. will lead to a silver price down-tick to the $33-$35 range.

AND we will see how much power Blythe has. maybe she can use this market crash to drive silver to $30.

[Gaillo]

...AND we will see how much power Blythe has. maybe she can use this market crash to drive silver to $30.

One can hope... I still have some buying to do! ;)

[Ash_Williams]

To Big To Bail......

Haha... awesome.

[JJ.G0ldD0t]

Monday...578

[Down1]

It Just Went From Bad To Far, Far Worse As Germany Says Italy Is Too Big For EFSF To Save, Refuses To Carry Euro Bailout Burden


:o


http://www.youtube.com/watch?v=dYuFFJ5Ness

Nice thought, but until I see it I won't believe it.
I think that statement was for the Kraut Goy.

Angela Merkel dashes Greek hopes of rescue bid
Thursday 11 February 2010

http://www.guardian.co.uk/theguardian/2010/feb/11/germany-greece-merkel-bailout-euro

Germany approves biggest cheque in history to save debt-swamped Greece

7th May 2010
http://www.dailymail.co.uk/news/article-1274518/Greece-debt-crisis-Germany-approves-biggest-bailout-cheque-history.html

[gunDriller]

One can hope... I still have some buying to do! ;)

in the medium term, a GSR of 30 is realistic.

if you allocate part of your holdings as "silver is a way to buy gold" ... the 30 ounces of silver that cost about $1200 today, can be traded for an ounce of gold when GSR = 30.

in this market, buying an ounce of gold for $1200 - NOT BAD.

[crazychicken]

Their last chance .. beg Zimbabwe to bail out the EU.

At last--a solution!

Please forward that to the Big "O". He needs something earth shattering to mumble. Incompetence can only be covered up for so long. Shorten that to::: Big "O", SO LONG.

Way to go.

CC

[mick silver]

well , if monday morning is a bad start it maybe time to double down on food and stuff that you will need . just a thought

[Dogman]

well , if monday morning is a bad start it maybe time to double down on food and stuff that you will need . just a thought

First thought

Second thought

Third thought

etc

etc.

Nuff said.

[Neuro]

$ Too be , was $


[.] instead of [$] would represent it's future value better. For each slash of 3 zeroes they cut from the bills, they can add another [.]..............

[Down1]

Unsurprisingly it appears "Kraut penis" is becoming flaccid.

German government no longer rules out euro bonds: report

The German government no longer rules out agreeing to the issuance of euro zone bonds (http://www.reuters.com/finance/bonds) as a measure of last resort to save the single currency, conservative newspaper Welt am Sonntag reported on Sunday.
Even though Finance Minister Wolfgang Schaeuble and Economy Minister Philipp Roesler again spoke out against euro zone (http://www.reuters.com/subjects/euro-zone) bonds and debt collectivization, Welt am Sonntag reported the German government is nevertheless considering that and other measures.
"Preserving the euro zone with all its members has absolute top priority for us," according to a government source quoted in the newspaper under the headline: "Government no longer excludes European transfer union and joint euro bonds as last resort."
http://www.reuters.com/article/2011/08/14/us-eurozone-bonds-germany-idUSTRE77D10T20110814

[osoab]

Eurobonds Ruled Out; Eurobong Still In Play (http://www.zerohedge.com/news/eurobonds-ruled-out-eurobong-still-play)


Submitted by Tyler Durden (http://www.zerohedge.com/users/tyler-durden) on 08/14/2011 - 18:45 Not even minutes after we finished ridiculing (http://www.zerohedge.com/news/italy-new-greece-strikes-shift-syntagma-square-rome)Springer/Die Welt (http://translate.google.com/translate?js=n&prev=_t&hl=en&ie=UTF-8&layout=2&eotf=1&sl=de&tl=en&u=http%3A%2F%2Fwww.welt.de%2Fwirtschaft%2Farticle1 3543028%2FDeutschland-wird-zum-Zahlmeister-Europas.html)'s attempt at propaganda spin whereby eurobonds were actually presented as not only good for Germany, but about to be "instituted" (and fully expected the immediate response to be one of refutation via official channels), here comes the FT with the official denial: "Germany and France are ruling out common eurozone bonds to solve the bloc’s current debt crisis, in spite of renewed pressure ahead of a meeting of chancellor Angela Merkel and president Nicholas Sarkozy on Tuesday. Wolfgang Schäuble, German finance minister, made clear in an interview with Der Spiegel, that Berlin remains opposed to such a policy. “I rule out eurobonds for as long as member states conduct their own financial policies and we need different rates of interest in order that there are possible incentives and sanctions to enforce fiscal solidity,” he said. So, uh, Die Welt's prognostication that "The federal government is now willing, if necessary, to accept a Eurobond transfer union" is about, oh, 100% wrong? Oops. As for those expecting an announcement of a eurobond on Tuesday following the latest round of "emergency" Merkel-Sarkozy, we suggest you put down the Eurobong: "Senior French officials also played down speculation that any firm announcement on jointly issued bonds would be issued after meetings when Ms Merkel comes to Paris on Tuesday. “Eurobonds would require a much more determined integration of budgetary policy,” one said. “We do not have that today. It could be a long-term project, but you cannot have eurobonds and at the same time national economic and budgetary policies.” Translation: "there is this thing called elections coming, and some of us career politicians, who have no idea how to do anything actually valuable for society, and still have not plundered enough in the form of bribers, pardon, lobby money, are not insane enough to propose that German and France foot the bill for the entire European bailout." Even though that is precisely what they will do via the EFSF. And we certainly expect yet another round of eurobond rumors the next time the EURUSD tumbles by 200 pips in the span of 10 minutes (which courtesy of the broken FX market as described by Sean Corrigan earlier (http://www.zerohedge.com/news/wasteland-how-central-planning-broke-all-markets-and-what-we-can-do-fix-them), is roughly every several hours).


I see yours Down1 and raise you.

I take the bolded (by ZH) as meaning they want more backbone to the EU.

[gunDriller]

maybe Germany should ask for the Holohoax Reparations money back.

i think it's about $50 Billion. that would come in handy.

[osoab]

maybe Germany should ask for the Holohoax Reparations money back.

i think it's about $50 Billion. that would come in handy.

They could ask for their subs back too.

[JJ.G0ldD0t]

Eurobonds Ruled Out; Eurobong Still In Play (http://www.zerohedge.com/news/eurobonds-ruled-out-eurobong-still-play)



I see yours Down1 and raise you.

I take the bolded (by ZH) as meaning they want more backbone to the EU.

und Kraut Schwanz bleibt hart

[gunDriller]

They could ask for their subs back too.

i would hope the German engineers put in a back-door, so that if Israel ever tries the "Samson option" (where they kill everybody), their sub simply drifts to the ocean surface ... and the speakers play "Hava Negila" ... or maybe something from Fiddler on the Roof.

[osoab]

i would hope the German engineers put in a back-door, so that if Israel ever tries the "Samson option" (where they kill everybody), their sub simply drifts to the ocean surface ... and the speakers play "Hava Negila" ... or maybe something from Fiddler on the Roof.

Stuxnet German style? ;D

We could only hope.