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If history is any guide, there will be a brief rally in German banks, followed by a collapse of unknown duration. Politicians are not bigger than the markets, no one is.
Traders are predicting chaos on the world's second-largest government bond market after the German authorities on Tuesday announced a ban on all naked short-selling in European public debt, as well as shares in the country's 10 largest financial institutions.
The unprecedented step saw the euro sink to a four-year low after Germany said that from midnight shorting of credit default swaps of any European government would be banned. The prohibition is an attempt to counter speculators that Berlin believes are trying to destabilise the region's sovereign bond market.
Traders greeted the move by BaFin, the German regulator, with a mixture of anger and astonishment. One bond trader said he expected Wednesday's trading session to be one of the most volatile in living memory: "It will be complete chaos, I really don't know what the Germans think they are doing."
Originally posted by GreenBicMan
reply to post by MrDarlingFace
There has been 72-82 I believe 32-42 and 56-66?
I am not looking at a chart but going by memory of djia historical chart lol
so don't quote me
But when you don't have anything else to turn to history is your only option.
I am sure it looked quite bleak as well during the energy crisis during the early 70's. Unfortuntely I wasnt around then. Maybe someone else could fill us in.
I dont know what else I was going to say I have been fighting with IB all night about their garbage API and I am about ready to throw this computer through a window.
Originally posted by GreenBicMan
Anyway, I got like a million hours of work still ahead of me I gotta jet
But you know what is weird is that literally this god damn screen in front of me and my ever increasing fatter ass by the day is literally all I have.. I just thought of that..
I don't think I have left my house in 4-5 days.
It better be worth it
These "handles" that I converse with are literally my only friends left because I have abandoned everyone else in life trying to launch this #
I'm not healthy, not happy, and this is probably going to take enough years off my life where even if I do get rich Ill prob just either get hit by a car or get a heart attack.
KNOCK ON WOOD MANG
Red shirts, surrendered mostly peacefully as hundreds of government troops began tearing down their fortified rally base...
On Wednesday, the head of the inter-state air committee, Tatyana Anodina, said the investigation had established "in the cockpit there were individuals who were not members of the crew".
With thousands of barrels of oil still spewing out of a damaged undersea well every day, the National Oceanic and Atmospheric Administration announced Tuesday that it was nearly doubling the portion of the Gulf's federal waters that are now closed to fishing. The restricted zone now pushes south and east into the heart of the Gulf -- another blow to a $2.4 billion industry already reeling from the nearly month-old spill.
"They'll have to go in somewhere else, probably around Galveston (Texas), instead of coming home," Abrams said. "That'll cause some problems, but it's better to be safe than sorry."