10/10/2011

10/10 AEP: German push for Greek default risks EMU-wide ‘snowball’

By John Galt October 10 2011 – 21:20 ET From the UK Telegraph tonight,, via Ambrose Evans-Pritchard….all I can add is “uh-oh”: German push for Greek default risks EMU-wide ‘snowball’ From the link to the article above (excerpted): “A lot has happened since July. Greece has fallen back on its commitments, so we have to assume that the 21pc cut is no longer enough,” said one source. Finance minister Wolfgang Schäuble told the Frankfurter Allgemeine that the original haircuts were “probably” too low, saying banks must have “sufficient capital” to cover…


10/10 Operation Anonymous Wins: NYSE surges

By John Galt October 10, 2011 – 18:45 ET Do what? Yup, the NYSE website is still up. The Operation Anonymous crew did not crash the NYSE but the OTHER Operation Anonymous, aka, the Plunger Protection Team, succeeded. Here is all the proof you need that the Federal Reserve and its minions won the day in a futile effort to prevent a total collapse and purchased at least 5-7 days, at most, on taxpayer dollars:   Trust me. This isn’t the superball superbull break out…. Watch and see. Congrats to the…


All you need to know about today’s markets: BUNKOMANIA

By John Galt October 10, 2011 – 13:25 ET So the Euro has soared up to 1.36 on rumors of another deal better than the 2010 deal which cured everything? Smells link bunk to me. So the DJIA, NASDAQ, and S&P 500 have finally crossed the 50 DMA because of the Merkozy accord… Bunk. Look at the volume. So Greece is cured? Uh, Bunk: And what one stock is validating my theory that this is a bunkomania bankster desperation rally? If it smells like bunkomania, it’s a sucker’s rally. Play it…


FDIC Bank Failure Page Update: Closing offices to save money or…..

By John Galt October 10, 2011 – 13:00 ET Thanks to my friend, CalOkie, for forwarding the information on the FDIC closings from the past week (Click here or to the right of this page for updated charts-CALOKIE’S FDIC Bank Failure Data). The two of us entered into a discussion as to why the FDIC is closing their satellite offices around the nation and the official line is that there were not going to be that many more failures so the offices would not be needed. Of course I thought about…


Occupy Bathroom Day 4: Market Update Video

By John Galt October 10, 2011 – 12:00 ET I’m learning to hate the internet or at least Comcast. We get a little rain here in Florida, I lose the internet for 16 hours. It’s back now and that’s the good news. And here’s the video that should provide some insight into what is happening despite the bizarro land markets we are in the midst of today.


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