BMEWS
 
Death once had a near-Sarah Palin experience.

calendar   Tuesday - February 09, 2010

THERE ARE 8 BILLION, COUNT EM, EIGHT BILLION SHORT SELLERS ON THE EURO …..

Do you suppose some folks just happen to know something?

H/T Rich K for emailing me the article from the Telegraph.

I read papers but ... (Drew, where do I get a shamed face avitar for this?) [ Drew: um, like red face this? ] I hardly ever read the financials. It’s my wife who reads the business section.
She it is who informed me about the short sellers.

This is some serious stuff I guess. ??  What the hell do I know? What?  Me Worry? 
I just need to know how the Q’s are running (QQQQ) the tech index.  Buy at the lo and sell later. Or use em for covered calls.  Outside of that, I didn’t even know there was a banking crises till I read it on BMEWS one day. lol.

OTOH .....  What Rich sent sure did stir up things a bit.  Everything is so connected.  But guess what?  It was the same in the 1920s.
SUPER book called LORDS of FINANCE. Very fast read and not overly tech heavy.

And BTW ... oh boy do we know about margin calls.  Been there and don’t ever want to revisit that country.


Greek Ouzo crisis escalates into global margin call as confidence ebbs

For the third time in 18 months the global financial system risks spinning out of control unless political leaders take immediate and radical action.


By Ambrose Evans-Pritchard

Flow data shows an abrupt withdrawal of German and Asian capital from Club Med debt markets. The EU’s refusal to offer Greece anything beyond stern words and a one-month deadline for harsher austerity – while admirable in one sense – is to misjudge how fast confidence is ebbing. Greece’s drama has already metastasised into a wider systemic crisis. The world risks a replay of the Lehman collapse if this runs unchecked, this time involving sovereign dominoes.

Barclays Capital says the net external liabilities of Greece are 87pc of GDP, or €208bn (£182bn). Spain is worse at 91pc (€950bn), and Portugal worse yet at 108pc (€177bn); Ireland is 68pc (€123bn), Italy is 23pc, (€347bn). Add East Europe’s bubble and foreign debts top €2 trillion.

The scale matches America’s sub-prime/Alt-A adventure and assorted CDOs and SIVS of the Greenspan fling. The parallels are closer than Europe cares to admit. Just as Benelux funds and German Landesbanken bought subprime debt for high yield with AAA gloss, they bought Spanish Cedulas because these too had a safe gloss – even though Spain’s property boom broke world records. They thought EMU had eliminated risk: it merely switched exchange risk into credit risk.

THE REST OF THE ARTICLE IS HERE

AND THERE’S THIS BIT FROM ANOTHER PAGE , SAME PAPER.
Naturally, I see the name Soros and it’s akin to waving a Nazi flag at a BarMitzvah.

First the hedge fund manager, Jim Rogers, co-founder with George Soros of the Quantum Fund, says “sell any sterling you might have. It’s finished”. Then along comes another veteran of the hedge fund scene, Bill Gross of Pimco, to insist that “the UK is a must avoid. Its gilts are resting on a bed of nitroglycerine”.


avatar

Posted by peiper   United States  on 02/09/2010 at 10:20 AM   
Filed Under: • Finance and InvestingUK •  
Comments (4) Trackbacks(0)  Permalink •  
Page 1 of 1 pages

Five Most Recent Trackbacks:

Once Again, The One And Only Post
(4 total trackbacks)
Tracked at iHaan.org
The advantage to having a guide with you is thɑt an expert will haѵe very first hand experience dealing and navigating the river with гegional wildlife. Tһomas, there are great…
On: 07/28/23 10:37

The Brownshirts: Partie Deux; These aare the Muscle We've Been Waiting For
(3 total trackbacks)
Tracked at head to the Momarms site
The Brownshirts: Partie Deux; These aare the Muscle We’ve Been Waiting For
On: 03/14/23 11:20

Vietnam Homecoming
(1 total trackbacks)
Tracked at 广告专题配音 专业从事中文配音跟外文配音制造,北京名传天下配音公司
  专业从事中文配音和外文配音制作,北京名传天下配音公司   北京名传天下专业配音公司成破于2006年12月,是专业从事中 中文配音 文配音跟外文配音的音频制造公司,幻想飞腾配音网领 配音制作 有海内外优良专业配音职员已达500多位,可供给一流的外语配音,长年服务于国内中心级各大媒体、各省市电台电视台,能满意不同客户的各种需要。电话:010-83265555   北京名传天下专业配音公司…
On: 03/20/21 07:00

meaningless marching orders for a thousand travellers ... strife ahead ..
(1 total trackbacks)
Tracked at Casual Blog
[...] RTS. IF ANYTHING ON THIS WEBSITE IS CONSTRUED AS BEING CONTRARY TO THE LAWS APPL [...]
On: 07/17/17 04:28

a small explanation
(1 total trackbacks)
Tracked at yerba mate gourd
Find here top quality how to prepare yerba mate without a gourd that's available in addition at the best price. Get it now!
On: 07/09/17 03:07



DISCLAIMER
Allanspacer

THE SERVICES AND MATERIALS ON THIS WEBSITE ARE PROVIDED "AS IS" AND THE HOSTS OF THIS SITE EXPRESSLY DISCLAIMS ANY AND ALL WARRANTIES, EXPRESS OR IMPLIED, TO THE EXTENT PERMITTED BY LAW INCLUDING BUT NOT LIMITED TO WARRANTIES OF SATISFACTORY QUALITY, MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE, WITH RESPECT TO THE SERVICE OR ANY MATERIALS.

Not that very many people ever read this far down, but this blog was the creation of Allan Kelly and his friend Vilmar. Vilmar moved on to his own blog some time ago, and Allan ran this place alone until his sudden and unexpected death partway through 2006. We all miss him. A lot. Even though he is gone this site will always still be more than a little bit his. We who are left to carry on the BMEWS tradition owe him a great debt of gratitude, and we hope to be able to pay that back by following his last advice to us all:
  1. Keep a firm grasp of Right and Wrong
  2. Stay involved with government on every level and don't let those bastards get away with a thing
  3. Use every legal means to defend yourself in the event of real internal trouble, and, most importantly:
  4. Keep talking to each other, whether here or elsewhere
It's been a long strange trip without you Skipper, but thanks for pointing us in the right direction and giving us a swift kick in the behind to get us going. Keep lookin' down on us, will ya? Thanks.

THE INFORMATION AND OTHER CONTENTS OF THIS WEBSITE ARE DESIGNED TO COMPLY WITH THE LAWS OF THE UNITED STATES OF AMERICA. THIS WEBSITE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE UNITED STATES OF AMERICA AND ALL PARTIES IRREVOCABLY SUBMIT TO THE JURISDICTION OF THE AMERICAN COURTS. IF ANYTHING ON THIS WEBSITE IS CONSTRUED AS BEING CONTRARY TO THE LAWS APPLICABLE IN ANY OTHER COUNTRY, THEN THIS WEBSITE IS NOT INTENDED TO BE ACCESSED BY PERSONS FROM THAT COUNTRY AND ANY PERSONS WHO ARE SUBJECT TO SUCH LAWS SHALL NOT BE ENTITLED TO USE OUR SERVICES UNLESS THEY CAN SATISFY US THAT SUCH USE WOULD BE LAWFUL.


Copyright © 2004-2015 Domain Owner



GNU Terry Pratchett


Oh, and here's some kind of visitor flag counter thingy. Hey, all the cool blogs have one, so I should too. The Visitors Online thingy up at the top doesn't count anything, but it looks neat. It had better, since I paid actual money for it.
free counters