Nigel Farage "Greece Could Default in Weeks" time for FAZ baby!!!

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#1 Thu, Jun 16, 2011 - 8:17pm
Spinny
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Nigel Farage "Greece Could Default in Weeks" time for FAZ baby!!!

Nigel Farage says that if Greece defaults, which he believes could be within the next couple of weeks, it will effectively make the European Central Bank "bust" because they have used all this money to buy up their own bad dept and then who is going to put more money in. We are on the edge of the whole thing busting...

Oh yes, it is time for the FAZ baby. Could be an opportunity that even makes silver look not that great....

https://www.youtube.com/watch?v=fQkBVLrAFFU

Edited by: Spinny on Nov 8, 2014 - 5:07am
Thu, Jun 16, 2011 - 8:23pm
Jimbio
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Whats the "FAZ"?

Whats the "FAZ"?

Thu, Jun 16, 2011 - 8:41pm (Reply to #2)
Spinny
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Its a 3X leveraged etf to the

Its a 3X leveraged etf to the russel 1000 FINANCIAL index. So if you want exposure to the financial side of things, this is it. Take a look at the 5 year chart.

What is the biggest public fallacy about market behavior? That markets are supposed to make sense. ~ Richard Dennis
Thu, Jun 16, 2011 - 8:48pm
Ratatouille
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Mmmm, good.

The time for FAZ may be now or very soon. I can't call it. But it is getting so close I can taste it.

Thu, Jun 16, 2011 - 9:05pm
Bull
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FAZ

I won't bet against the banks. Too powerful, too in control of too much. I played FAZ calls all last year and it came to naught.

In the end the EE TBTF banks and their psychopath execs will burn in hell! But when is this end and who will be consumed too?

Wonder what Turd thinks about shorting financials.

Bull
Thu, Jun 16, 2011 - 9:30pm (Reply to #5)
Spinny
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I agree with you, but like I

I agree with you, but like I said....tremendous downside, and not so much upside potential. The equity market is starting to feel like the perfect storm to me, some thoughts:

  1. Benny needs to prop up the dollar just a wee bit before the next round of money printing. Remember, we want a "managed decline" in the dollar.
  2. By allowing the equity markets to tank money will flee to the safe haven "dollar" SO LONG AS IT IS NOT PERCEIVED THAT THE DOLLAR IS IN JEOPARDY. All bets are off if we don't get the debt ceiling raised.
  3. By making money flee the equity markets and run to bonds, this will effectively keep rates low in time for the end of QE2.
  4. The "deflation on" "risk off" attitude will be just what Ben wants to get permission to print all that money he just knows will solve all our problems. After all, as Keiser said on ZH today, he truly believes he can solve all problems through monetary policy.
  5. Greece. As posted above. A default is bad for the ECB which is bad for US financial institutions which is bullish for the FAZ!!!!
What is the biggest public fallacy about market behavior? That markets are supposed to make sense. ~ Richard Dennis
Thu, Jun 16, 2011 - 9:52pm (Reply to #5)
CYM
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I have a crush on FAZ.

I have a crush on FAZ.

Thu, Jun 16, 2011 - 11:39pm
SilverSurfer21
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FAZ - Option or ETF?

Wow, look at those highs in 08-09 good god! An ITM call is pricey but if Greece or Portugal fail and it triggers this up in the 1000's thats quite a payday.

Options or ETFs? or Both? What's your exposure to FAZ?

Thu, Jun 16, 2011 - 11:49pm (Reply to #8)
CYM
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I just bought the ETF. 

I just bought the ETF. 

Fri, Jun 17, 2011 - 9:12am
davefess
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july dow put

Been betting on this too. I bought a July put a couple weeks ago based on end of qe 2 seems to be priced in already into the markets and possible greek default in the next few weeks. Maybe I should of did sep though lol

"it's game over man, game over!"
Fri, Jun 17, 2011 - 9:22am
Violent Rhetoric
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It appears the R2000 and

It appears the R2000 and probably the financial component will rally into the weekend on Merkle's comments [extend and pretend]. Might want to wait until next week to go long FAZ.

European stocks gained as German Chancellor Angela Merkel retreated from demands that bondholders shoulder a “substantial” part of the cost of a Greek rescue. Asian stocks fell and U.S. futures rose.

https://www.bloomberg.com/news/2011-06-17/european-stock-index-futures-decline-carrefour-tod-s-celesio-may-slide.html

Throughout history, poverty is the normal condition of man. Advances which permit this norm to be exceeded — here and there, now and then — are the work of an extremely small minority, frequently despised, often condemned, and almost always opposed by all right-thinking people. Whenever this tiny minority is kept from creating, or (as sometimes happens) is driven out of a society, the people then slip back into abject poverty. This is known as “bad luck.” ~ Robert Heinlein
Fri, Jun 17, 2011 - 9:29am (Reply to #11)
caramel
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phew, everything's alright in

phew, everything's alright in Greece today.

https://www.bloomberg.com/apps/quote?ticker=GGGB10YR:IND

10yr now down to almost 17%!

I'd be very surprised at a default soon; they'll kick the can down the road, as far as they can.

Fri, Jun 17, 2011 - 9:39am
davefess
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seems to be the consensus

https://www.economicpolicyjournal.com/2011/06/greece-replaces-finance-minister.html

they won't let Greece fail this summer...what a bummer!

"it's game over man, game over!"
Fri, Jun 17, 2011 - 10:57am
dropout
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The Greek outflows are

The Greek outflows are getting massive. The EUR/CHF chart has parity written all over it!

Time to break out the old Drachmas. Not enough Euros left in country to do bizz!

If the can is kicked - won't go far. Lets say six weeks. End of July. Europe takes the month of August off. So look for the 1st 1/2 of September. Another black day in September? Maybe? Just my take. Thoughts?

Fri, Jun 17, 2011 - 11:09am
davefess
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agreed

they will kick the can a few weeks to buy time, maybe a month. Fall could be ugly, isn't that when we typically get the crashes anyway lol. I guess I got a little ahead of myself shorting now. Still curious to see what happens post QE2. Might as well wait and see for now. I kind of expect DOW to get up to about 12,200-400 and then maybe another down turn?

"it's game over man, game over!"
Fri, Jun 17, 2011 - 11:13am
davefess
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what a farce

https://www.economicpolicyjournal.com/2011/06/sarkozy-announces-greek-crisis.html

Who knows though? We have been hearing it has been solved, unsolved, solved and unsolved over and over again.

"it's game over man, game over!"
Fri, Jun 17, 2011 - 11:17am (Reply to #15)
dropout
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Inflating the debt away -

Inflating the debt away - some say you could possibly see the DOW and gold both at the same numbers!

Not too hard to imagine. Print & inflate. The ONLY way out left for the Fed. Gold at $1550 will seem cheap.

Fri, Jun 17, 2011 - 11:22am
davefess
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Dow/gold ratio

I believe we will see 1:1 at some point....but what are the numbers is the question? 10,000/10,000, 5,000/5,000. I do see the dow going much higher long term, not for any fundamental reason. I thought we would see a drop to about 10,500 before another run up. still possible I guess. I think sometime in the next couple years we see 15,000 DOW/3,000 gold. maybe like 2014 or so.

"it's game over man, game over!"
Fri, Jun 17, 2011 - 11:44am (Reply to #18)
caramel
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i could see DOW moving higher

i could see DOW moving higher as easy money from QEXX needs to be leveraged somewhere, anywhere or everywhere. But the prices of stocks are already overvalued so prices would have to really defy even the most optimistic models. In my mind, QEXX could keep the market relatively stable or rising, but at a gradual up rate.

Perhaps the default of Greece, the chaos that ensues, and where the blame could be shifted elsewhere maybe what justifies a huge QE like never before.

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