Posts Tagged ‘ EUROPEAN UNION ’

3.9.12 BREAKING NEWS 14:50 ET: ISDA determines Credit Event has Occurred

by John Galt March 9, 2012 14:52 ET ISDA determines Credit Event has Occurred Boom. CDS insanity begins. Statement via from the ISDA: ISDA EMEA Determinations Committee Accepts Question Related to a Potential Hellenic Republic Credit Event March 9, 2012 NEWS RELEASE For Immediate Release ISDA EMEA Determinations Committee Accepts Question Related to a Potential Hellenic Republic Credit Event LONDON, March 9, 2012 – The International Swaps and Derivatives Association, Inc. (ISDA), as secretary to the Determinations Committees (the DCs), today announced that a question…

by John Galt March 8, 2012 22:15 ET The problem with a Ponzi scheme is that eventually someone gets angry enough to see the con for what it is and asks where the money really is. Welcome to the PECB, the Ponzi European Central Bank. Ambrose Evans-Pritchard has addressed this issue in his column tonight in the U.K. Telegraph: Legal skull-duggery in Greece may doom Portugal (click on the title above to access article in full) As the Greece insolvency crisis continues despite the bond…

by John Galt March 8, 2012 05:30 ET The myth that the great shell game known as the Greek bond swap where worthless paper is exchanged for lower quality even more worthless paper so Greece can default on those bonds at a later date has been exposed in one chart showing the market’s faith in the viability of the Greek nation: (chart from Bloomberg.com) The yield on the one year Greek Government bond has topped 1,135%. This means that no matter what commitments are made…

by John Galt March 5, 2012 17:40 ET La Revolución ha comenzado The Revolution has begun. A simple, often controversial phrase uttered throughout history in Latin nation as the war against the oppressors start, or worse, the war against a system perceived as unjust by those wishing to install a new more evil system. The story from Spain tonight is one of defiance, the proverbial threat against the banksters that they have been living in fear of hearing since the beginning of the Greek crisis.…

by John Galt March 4, 2012 01:15 ET While American citizens bitch and moan over $4 gasoline, the Europeans have found that Environmentalist Lunacy and Socialism (also known as ELS or Obamasitis) is about to create shortages at not just the breakfast table but across the entire European Union and United Kingdom, but in the very goods they take for granted to bake or flavor other foods. The European Egg Processors Association posted the first warning shot by the UBP (Union for Belgian Egg Products)…

by John Galt February 28, 2012 19:00 ET Can I get an “Oops” and an “AMEN” from the audience please? Irish EU treaty vote threatens chaos Ambrose Evans-Pritchard has elected to defy the powers that be in the European Union again and post an inflammatory but accurate commentary in tonight’s U.K. Telegraph (Click on the title above to read it in full) about what happens when representative democracy meets the agenda of the banksters who wish to enslave populations without proper representation. Excerpted: All three…

by John Galt February 28, 2012 05:30 ET The nation of Greece is now officially in default according to Standard and Poor’s (click here to read the story in full). The Troika and German expansionist government has declared that they would support the second bailout to preserve the status quo of confusion, deception, and deliberate subjugation of the Greek people. Unfortunately for the Germans, NATO, the European Union, and United States, a wildcard has been thrown into the fire by non other than the Greek…

by John Galt February 27, 2012 17:00 ET While the world burns and turns, the Dow flirts with the big 13K (why it is big, who knows other than CNBC), and the MENA region disintegrates into a flaming pyre, the one predictable action of the day has occurred after the Greek government decided to obey their Germanic masters and follow the U.S. government example of screwing bondholders as a practice to achieve even further disorder in the markets. The statement from S&P is pretty much…

by John Galt February 22, 2012 05:30 ET In what can only be called a determination of default by investors, the sell off of Greece’s short term debt tells a tale of woe. The 1 year bond yield moved from yesterday’s close of 652% to 752% overnight while the 2 year moved a whopping 20 bps from 192% to 212%. If this isn’t the true vote on the alleged ECB/IMF “bailout” I do not know what is. This is a nation falling into disarray,…

by John Galt February 21, 2012 18:10 ET The first three portions of Ambrose Evans-Pritchard’s commentary on the Greek tragedy today drop a huge hint as to what is coming in the Balkans: Greek elections in April are likely to sweep away the political class tainted by the hated “Memorandum” of the EU-IMF Troika, with the once dominant PASOK party down to 13pc in the latest poll and votes peeling away to the Communists, the Democratic Left, and Syriza. Alexis Tsipras, the Syriza leader,…

by John Galt February 21, 2012 05:05 ET The technocrats are all patting themselves on the back but the truth about today’s “bailout” announcement comes from the Hellenic Financial Authority and its statement today (via The Athens News): The Hellenic Republic today announced the key terms of a voluntary transaction in furtherance of the 26 October 2011 Euro Summit Statement, known as the Private Sector Involvement, and in the context of its economic reform programme that has been agreed with the European Union and…

by John Galt February 19, 2012 17:00 ET Different weekend, same headlines. Another deal, another bail out rumor, another saving of the Euro, and another piece of wood on to the pyre inflaming and destroying the oldest democracy in world history. Yet while the Greeks suffer, Berlin fiddles. Tonight, Ambrose Evans-Pritchard in the U.K. Telegraph addresses the idea of saving the nation by restoring sovereignty. Too bad it appears to be another idea, too little, too late. To read the commentary in full, click…

by John Galt February 17, 2012 19:15 ET So much for the “how dare you” mindset of the British and European banksters who wanted to invade Iceland with military force to take over the nation and insure they pay their debts back to their nations. Once the people Iceland elected to remain independent and not become victims of European servitude the hard times began but now are ending just a few short years later. Tonight Ambrose Evans-Pritchard highlights the glorious Viking victory of the…

by John Galt February 17, 2012 05:20 ET Of course TPTB will tell us, just like they did with Indymac, Fannie, Freddie, and Bear Stearns that is “contained” and no big deal. Of course tell the Greeks digging through dumpsters this fact and I’m sure they will provide you with a sip from a Molotov cocktail. I give this less than a month before we see a 1000% yield. The intraday high today, thus far, was a nasty 639%. Just wow. (via Bloomberg.com)

by John Galt February 12, 2012 17:50 ET The sad sorry joke being perpetuated on the citizens of Greece who are clueless sheep and the mindless individual investors, what few are left, playing the Wall Street casino, is that tonight’s vote on the new Greek austerity program by the Greek parliament is irrelevant. The nation of Greece is completely insolvent, totally dependent on the whims of IMF and European Union technocrats along with banksters from New York to London, and the people have not…

by John Galt February 12, 2012 16:45 ET Tonight’s editorial from Ambrose Evans-Pritchard in the U.K. Telegraph is perhaps the starkest commentary yet on the disaster in the European Union and inside of Greece: Germany’s Carthaginian terms for Greece (click on the title to read the commentary in full) One sentence describes the EU’s folly best of all in this must read article: Belief that EMU fall-out from Greek exit – or “Grexit” in market slang – can be contained by firewalls and more…

by John Galt February 12, 2012 10:50 ET From Zougla.gr: Today’s debate and vote later on might be a forgone conclusion, but the reaction of the masses in the street is what will be most fascinating to watch.

by John Galt February 7, 2012 22:05 ET (Photo from Eurokinissi) It’s a good thing the IMF, the Troika, the ECB, and German masters have settled the Greek crisis. Of course that explains why this story from The Athens News was a “positive” reaction to the German imposed bankster austerity settlement whispered, rumored, and leaked today: Strike protesters burn German flag (Click on the title above to read the story in full) From the story: Hundreds of protesters chanting “Nazis Out!” clashed with police…

by John Galt February 7, 2012 18:55 ET With the hour by hour, minute by minute, second by second, millisecond by millisecond, and of course, microsecond by microsecond breaking rumors, er, “news” about a potential Greek bailout since 2009, the markets and reality are beginning to come up with answers to the inevitable break up of the European Monetary Union (EMU) unless Germany is allowed to establish a Fourth Reich. Thus tonight’s entry from Ambrose Evans-Pritchard in the U.K. Telegraph is a must read…

by John Galt February 6, 2012 05:25 ET All the Troika talks, politician’s lies, and banksters extortionist threats couldn’t put Humpty Dumptikos back together again. The graphic be;pw via Bloomberg.com says all you need to know about a Greek default being an inevitability, no matter what lies the television talking heads or Eurozone political elites present on a daily basis.

by John Galt February 5, 2012 16:15 ET The furor being raised at Germany and its policies designed to impose a new order of economic dictatorship over the poor nations of Europe and the weak banksters of the continent is now being openly expressed by the French socialists, as expressed in Ambrose Evans-Pritchard’s column from tonight’s edition of the U.K. Telegraph: French socialists’ Latin revolt against Germany (Click on the link above to read the article in full) The failure of the quasi-Marxist economic model…

by John Galt January 24, 2012 19:45 ET Tonight’s story from Ambrose Evans-Pritchard in the U.K. Telegraph should send a chill down everyone’s spine: EU ratchets up pressure with Greek default threat (Click on the title above to read the story in full) The excerpt that should disturb the average soul: “We’re sending a direct message to Greece that the community expects more. We’re not pleased and only when there’s a written message on the table in front of us, can further assistance be…

by John Galt January 22, 2012 17:35 ET Too bad Ambrose Evans-Pritchard in tonight’s U.K. Telegraph commentary doesn’t recognize that America is doing this with smoke, mirrors, and hopium. To read the article in full, click on the link below: America overcomes the debt crisis as Britain sinks deeper into the swamp Needless to say, this faith in the U.S. economy and it’s idiot politicians will not end well but don’t remind Ambrose of this fact. We’ll be in as bad a shape as…

by John Galt January 19, 2012 23:00 ET As the markets continue their drunken ways, Portugal is sending out a distress signal. Ambrose Evans-Pritchard’s story this morning from the U.K. Telegraph heralds this warning clarion in graphic detail: Portugal to need “debt haircut” as economy tips into Grecian downward spiral (Click on the title to read the full article The excerpt which should set off alarm bells in bankster’s offices from Brussels to Berlin: The problem is the slow-burn threat of debt-deflation. Interest costs for…

by John Galt January 19, 2012 05:30 ET Based on the 1, 2, and 10 year bond yields in Greece, the markets are voting on a Greek default. So ignore the MSM and Financial media nonsense that is spewed today and prepare for a shock wave to hit the banksters around the world in the next 60 days. Next up after Greece are Ireland and Portugal.

by John Galt January 17, 2012 19:50 ET For my generation, the Dead Kennedys were the ultimate rebel punk band, spitting on the establishment and dismissing the elitists of the day as warmongering scum. Thus when I saw the headline and story from Xinhua tonight, the song seemed oh so perfect as the European banksters have elected to roll a bum and beat the hell of a destitute like a group of meth head teenagers bored on a Saturday night in any American city. …

by John Galt January 15, 2012 16:15 ET The gloating of the American citizen who reads this story will be quite short lived once the average soul takes a moment to reflect on all of the idiotic projects and empty airports built by the likes of Pelosi, Boehner, Reid, or other Senator or Representative. The problem is, like the European Union, most Americans fail to understand that the problems illustrated by the following absurd story via the Turkish newspaper the Hurriyet Daily News and AFP,…

by John Galt January 15, 2012 15:15 ET Coming to the U.S.A. soon. The protests initially started out over a government modification to the country’s national health care program. on Day 3 it evolved into an anti-government protest which has continued through Sunday in Bucharest and across many major cities according to this Reuters story, Romania protests spread despite health bill withdrawal. The video and report from Russia Today though tell a tale the Western media will not cover nor illustrate about what is brewing…

by John Galt January 15, 2012 13:00 ET While America slumbers, the designs on our future are being tested by the bankers of the world in the PIIGS nations plus Hungary. The origins of the rule of law in the United States can be traced back to European history and specifically, English common law. Thus when the time comes for America to settle its debts with the nations of the worlds and the banksters within them, the example being set by Greece might well be…

by John Galt January 13, 2012 05:30 ET I’m sure somewhere on one of the uber-bullish blogs or Bubblevisions there is an analyst calling this super good news for the world’s equity markets. For Greece however, it is the beginning of the end and a total collapse. Next stop: 500%.

by John Galt January 9, 2012 05:15 ET Today is going to be a snoozer. With volumes anemic and the start of earnings season which is a total crap shoot this time around, do not look for any dramatic moves in any U.S. markets today barring some shocking geopolitical event. The head of the ECB is not named “Tebow” and the 1,321 summit between Sarkozy and Merkel is beginning to resemble a marriage counseling meeting rather than a serious attempt to resolve the problems…

by John Galt January 8, 2012 18:30 ET The headline in tonight’s edition of the UK Telegraph caused me to do a double take, and the article in full (at the link below) was even more insane: Italian Prime Minister Mario Monti: ‘The euro is not in crisis’ Uh, since when did Italy go Dutch? This is the most absurd headline of the day but the story only makes it better when one starts reading the details inside of it: “The euro is not in…

by John Galt January 6, 2012 05:30 ET Despite the popular belief that the Euro will survive there is ample evidence that the ultra-wealthy and many banks believe otherwise. The examples below are just of the German 1 year yield and the Euroswiss 3 month which both have displayed negative yields at various points in their recent trading history but more so recently as all faith in the ECB has evaporated. Bankers and wealthy investors do not pay central banks to hold their cash unless…

by John Galt January 5, 2012 05:30 ET The implosion of the Euro is well under way and this will trigger a massive sell-off in the U.S. equity markets if the central banksters don’t break out their inner piggy and bail it out immediately. The technical condition is now shattered in the EUR/JPY swap with new decade plus lows being made daily and this morning being no exception: (from ForexPros.com – live 5 minute chart updates automatically) 96 is now in play in that swap…

by John Galt January 4, 2012 05:20 ET Buckle your seat belt, make sure you keep your arms inside the car at all times, and please secure all loose objects. All of the sudden yesterday’s “rally” isn’t looking so hot as the news broke this morning that usage of the ECB’s deposit facility hit an all time high yesterday of €453.18 billion and the volume in the U.S. markets was disappointing to the bulls and technicians. The Asian markets did not follow through with a…

by John Galt January 3, 2012 07:59 ET In this morning’s edition of the Athens News it was reported that Pantelis Kapsis told Skai TV the following: “The bailout agreement needs to be signed otherwise we will be out of the markets, out of the euro.“ Of course he followed up those reassuring comments with this gem: “The situation will be much worse.” The story went on to state that voters in polls wanted the government to do all they could to remain slaves, er,…

By John Galt January 3, 2012 07:30 ET Happy New Year and enjoy the faux Wall Street party today because it will not last long. Futures are up this morning but not due to a sudden resurgence in the U.S. economy or some miracle created by Obamanomics. The reality is that everything is still tied to the actions in the Eurozone and price action in the Euro and each tick up in the S&P 500 can be tied directly to the USD/EUR and EUR/JPY trades…

by John Galt January 2, 2012 22:10 ET 2012 starts out as 2011 ended, with many starting their usual cheer leading that everything is going to be wonderful with unicorns pooping rainbows and pissing Skittles, yet reality is, as usual, stated by Ambrose Evans-Pritchard in his column for tomorrow morning’s print edition of the U.K. Telegraph: 2012 could be the year Germany lets the euro die (click on the link above to read the full article) From the article: Monetary union is too damaged to…

JohnGaltFLA Predictions for 2012 By John Galt January 1, 2012 – 17:00 ET I. Geopolitical Predictions 1. The United States constructs a new large military base in Columbia near the Venezuelan border in anticipation of the collapse of the Chavez regime. The new focus on South America is seen as a desire to refocus American foreign policy as the Middle East rejects any further interference from the United States. Columbia welcomes the action as it intertwines the U.S. into their internal conflicts and…

By John Galt December 30, 2011 07:50 ET Buckle up. 2012 is almost here. Last year I was so-so in my predictions and for 2012 I probably will be also. If you are meek put on your Depends for this show or just assume the fetal position when the theme music stops. In the first half hour I’ll cover the news of the day, the financial news and then begin the prognostications which cover geopolitics, sports, U.S. politics, the economy, weather, and whatever else I…

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Posts Tagged ‘ EUROPEAN UNION ’

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