The EE Has Announced Global QE: CME Margin Hikes on Standby

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#1 Sat, Sep 10, 2011 - 12:26am
Aeonios
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The EE Has Announced Global QE: CME Margin Hikes on Standby

Today, the eurodollar peg crumbled, and europe began a major plunge into the final end of the status quo. The G7 had a meeting scheduled, but unfortunately for them, it's panic time. No need to fear, however, the central bankers firmly committed to printing as much money as needed in order to maintain the status quo for yet one more week. Behind them came the IMF, which committed to back them up with ~$580bn in "emergency funds" and is no doubt committed to keep those funds open "as long as necessary".

In other words, "SHEET SHEET, PRINT ZE DOLLARZ! PRINT ZE DOLLARZ!"

Although the stock market action and the ECB resignation today were moderately notable, they weren't anything really special. Rest assured, however, that the EE knows what's going down, and based on the massive global sovereign panic today, it's looking to be bigger and more exciting than anything we've seen since 2008.

https://www.zerohedge.com/news/g7-issues-communique-tackling-slowdown-su...

https://www.zerohedge.com/news/here-comes-threat-international-monetary-...

Keep in mind that with the tensions so ridiculously high, the EE will be counting on the trusty CME group to drop the hammer and bail them out of a flight to PMs (yet again). Judgment Day has finally arrived folks, the final battle is here, and the EE has just fired the first shots.

Edited by: Aeonios on Nov 8, 2014 - 5:04am
Sat, Sep 10, 2011 - 1:52am
zhaan
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Interesting

thanks for sharing

Sat, Sep 10, 2011 - 11:40pm (Reply to #2)
Aeonios
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Update:

Update:

Today the Prime Minister of Greece gave a speech on the economy which was met with a wide variety of protesters and general rioting. The Greek economy contracted 5%, over the projected 3.8% contraction expected. Things are going to get worse since, as of today, yet a further segment of the Greek population has gone on strike to protest the 'austerity measures' (which of course don't affect Greek politicos! How could they deny politicians of their rightful benefits?).

German polls, on the other hand, revealed that 75% of Germans are opposed to any further bailouts, so if the ECB does bail Greece out again, then we'll see riots in Germany as well.

Don't worry though, the riot police are standing guard to keep people in line.

Japan, once again, is jumping on board the devaluation train to try to save their doomed export business. Previous attempts to devalue the yen versus other currencies has thus far resulted in zero, and I don't expect much different this time.

The US has already committed ~$500bn to the fight against economic reality, with the IMF offerring up another ~$600bn. It's only too bad the markets don't seem to be buying it this time.

There is also the looming possibility that Moody's will start tossing downgrades at the French banks with the largest Greek exposure. If that happens, it would throw a huge wrench into their whole "bail out the PIIGS infinite times" strategy. That said, if their printing rally gets cut short, it's going to be global chaos now, rather than later.

Time to grab your popcorn and snuggle up with your hard&shinies, the ability of the Keynesian Confetti Cartel to juice the stock markets in the name of the status quo is rapidly crumbling to dust, margin hikes or no.

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