The "up-to-the-minute Market Data" thread

“If there isn’t a solution by Sunday, everything is going to collapse”

That was Sarkozy this week.

And it's Sunday. Still no solution. (because there isn't one, well there is one but no way in hell they go with it)

And Italy is in big trouble...

Southern European banks need most capital

Italy needs to borrow €250bn next year just to refinance its existing debts that are coming due for repayment - and not including the new money it will need to borrow.

Good luck with that.

Time for the EU to finally die.

And for those who still don´t believe that everything is going to come down sooner than many think,here is a nice Article,on ZeroHedge of course,which explains the whole Situation in simpler Terms...

Guest Post: The European Financial Crisis In One Graphic: The Dominoes Of Debt

Main-Points:

The dominoes of debt are toppling in Europe, and there is no way to stop the forces of financial gravity.

After 19 months of denial, propaganda and phony fixes, the political and finance leaders of the European Union are claiming a "comprehensive solution" will be presented by Wednesday, October 26-- or maybe by the G20 meeting on November 3, or maybe on Christmas, when Santa Claus delivers the gift global markets are demanding: a "solution" that actually pencils out and that forces monumental writeoffs of debt and thus equally monumental losses on European banks and bondholders.
[...]
I have summarized the fundamentals in this one graphic: the European dominoes of debt. Simply put, there is no way the EU authorities can stop the first domino--Greek default or equivalent writedown of its impossible debt load--from toppling the over-leveraged banks which will be rendered insolvent when forced to recognize their losses.
[...]
In any event, the last domino, the artifice of a single currency, will fall one way or another.

And looking at other News (or Non-News) such as a missing Statement on the Meeting today and the total Chaos in Brussels,we can expect a pretty turbulent Market opening for the Week,until they deliver...something...on Wednesday.

Or maybe France is downgraded before then,which should make any Statement useless because the SHHTF already


Edit: Another good Pice about the sheer Panic now beeing obvious for everyone to see:

Summarizing The Sheer Chaos In Europe: 9 Meetings In 5 Days

For over a year, our premise #1 in interpreting the newsflow out of Europe has been that in the absence of actual practical ideas, and the continent's glaring inability to do simple math, the only option left to bEURaucrats has been to literally baffle people with so much endless bull# that the general audience would be simply stunned by the possibility of an alternative that the union's leaders were all talk and absolutely no action, let alone analysis. As of today, we now know that that is precisely the case: for over a year Europe has been mouthing off hollow rhetoric in hopes that the market would just leave it alone, and that promises of promises and plans of plans would be sufficient. That plan (pardon the pun) has now failed. And so behind the scenes chaos turns into fully public panic. As the FT's Brussels blog summarizes, the only game left in town for Europe now is to push off D-Day, but not to some indefinite point in the future, like the US, but to tomorrow, and tomorrow and tomorrow, to channel the bard here. And nothing confirms better that it is all over for Europe, than the following summation of the terror and utter cluelessness gripping Europe, than the following sentence from the FT: "Just to recap, by Wednesday night there will have been nine meetings of ministers or national leaders in five days."

CHAAAAOOOOSSSS!!!!1111eins

It is interesting how humanity choosing between wisdom and idiocy, chose the latter.


2.500 years ago, a Greek named Zeno (not the one who invented Zen, but for that mater...) created examples of how idiocy functions, and called them "aporia" (desolation).

One of his aporias is about going from point A to point B while relying on a measure which is "half of the way" between You (you are actually a mobile point A) and your Goal. To put it simple: In order to reach your goal, you have to first pass half of the way. Then, again, half of the remaining distance, and so on into the infinity. This is called the principle of division, reflection, and some other synonyms.

The catch is, of course, in adopting a wrong unit of MEASURE

But, this example i.e. choice is a potent one. It really opens "new spaces". True, it condenses the remaining road to travel, but it increases the volume of time and quantity of events per unit of time.

In this game of poker, which is fixed by all players, the time has come for someone to pull the gun instead of card trump.

Was it an English philosopher who said something about "Social Contract"? Well, this contract is about to be torn.

The choice of capitalism was about choosing between harmony and competition. Well, competition ends up in this chaos of intertwining interests, just like it is expressed in the symbolism of, Lo!, another Greek example: The Laokoon and his sons losing a fight against the constrictor

Originally posted by DangerDeath
The introduction of computer trading created a situation where historical events of crashing markets can happen and last only few seconds. We cannot follow this by observing traditional graphs which resolution is like million times lower than reality of such manipulation. Earning a buck each nanosecond means billions in minutes.
I think this new technology enables molding markets, at the end of session, as if they were made of wax. If someone can enlighten me on this, I'll be grateful.

This may answer you question that I am pretty sure you know the answer already.

High Frequency Trading: A Liquidity Hoax

High- frequency traders may help facilitate order execution, but make no mistake, they don’t provide true liquidity to the market place.

Read more: articles.businessinsider.com... Ln
High-frequency traders are extremely secretive about how their proprietary systems work. It’s ironic that the regulatory changes that swept in the era of high-frequency trading were chiefly driven by large mutual funds that claimed that the NYSE specialist system was unfair and not transparent. Fidelity Investments’ Edward “Ned” Johnson was one of the most vocal critics of the NYSE specialist system (at the time of the changes Fidelity accounted for about 3-5% of NYSE trading volume).

articles.businessinsider.com...

I think this sumarized the hoax that high frequency trading is but the rest of the article is a good eye opener.

Accounting Trickery Flourishes In Financial Sector, how they are deceiving you

SFAS No. 159, a new account­ing rule that enables banks to arti­fi­cially boost earnings. As if the earn­ings pic­ture for banks needed to get any cloudier. In short, this account­ing loop­hole per­mits an entity to real­ize gains when the value of its debt drops because of dete­ri­o­ra­tion in its cred­it­wor­thi­ness. That’s right, banks real­ize gains when their credit qual­ity declines. Bril­liant!

Banks are not afraid of tak­ing advan­tage. Here is a quick sum­mary of how SFAS No. 159 has “smoothed” third quar­ter earnings:

•JPMor­gan Chase (JPM – neu­tral rat­ing) real­ized a $1.9 bil­lion (pre-tax) “adjust­ment” for an extra $0.29 per share

•Bank of Amer­ica (BAC – dan­ger­ous rat­ing) enjoyed $4.5 bil­lion of SFAS NO. 159 mush to push their 3rd–quar­ter pre-tax profit to $4.2 billion

•Cit­i­group (C – very dan­ger­ous rat­ing) used the account­ing loop­hole to boost earn­ings by $1.9 bil­lion, 50% of its $3.8 bil­lion Q3 net income.

This loop­hole is just one in a long line of tricks that have enabled some of the major banks to mis­lead investors. Click here for my arti­cle on Citigroup’s earn­ings manip­u­la­tions and here for my arti­cle on Mor­gan Stanley’s account­ing shenanigans.

www.forbes.com...

The 147 Companies That Control Everything

www.forbes.com...

reply to post by marg6043


Obviously, they have created a network. It's a global cybernetic bank "organism" with thousand heads.

Hercule anyone?

reply to post by DangerDeath


Exactly, who needs real paper money when we got cybernetic make believe monopoly money anybody can become rich!!!!!!!!!!!! (I mean if you are in the elite few castes)

Originally posted by marg6043
reply to post by DangerDeath

 

Exactly, who needs real paper money when we got cybernetic make believe monopoly money

anybody can become rich!!!!!!!!!!!!

(I mean if you are in the elite few castes)

An EMP would be good.


(electromagnetic pulse)

Confirmation Of European Recession Following "Miserable" Composite PMIs Means French Downgrade Coming

[...]
As Reuters concludes: "The euro zone's debt crisis might already have pushed the bloc's economy back into recession, according to business surveys that showed China's economy taking a stride forward in October." So why is this an issue? Simple - as a reminder in a little noticed statement last week, S&P said it "would likely downgrade the credit ratings of France, Spain, Italy, Ireland and Portugal if the euro zone slips into another recession." Well there's you recession confirmation. So: where is the European bailout killing downgrade of France?
[...]

Come on,downgrade France already,pretty please?

German government source says full parliamentary session to vote on EFSF leverage models on Wednesday

I'm gonna be an optimist and say they gonna vote against it... please?

reply to post by Vitchilo


Don´t count on it...those Traitors showed in the Vote on the EFSF what little they know,or care. Did you know that most of them, who were beeing interviewed after that Farce, didn´t even know how much Money the EFSF costs us?

Democracy in Germany died on that Day...

reply to post by Shenon

Did you know that most of them, who were beeing interviewed after that Farce, didn´t even know how much Money the EFSF costs us?

For real? That is sad and is surely pissing off a lot of people in Germany... including you.

reply to post by Vitchilo


Of course i´m pissed off. But not only about that,but of what Schäuble (our Finance Minister) said and did. He said ,just before the Vote,on Live-TV,that the Amount (€ 211bn) will stay the same and that Leveraging is out of the Question...that lasted how long? 1 Week?

Because of the fake market rally going on now, it wouldn't surprise me if Europe postponed their "plan" a little further. I mean.. why not? Investors always ride the potential of news more than news itself and the gullible market is eating this up right now.

With the Dollar hitting a 62% retracement of last months gain and many other Commodities/Metals at key Fibonacci points, now is a make or break moment for the market. We either break key resistence points very soon and head up to new highs, or start dropping exponentially to a total loss of 30-40% in the next few months. My money is on the later.

www.youtube.com...

Do you get?


There's another thread:

www.abovetopsecret.com...

Vatican calls for global authority on economy, raps "idolatry of the market"

Global FED...



All right. It's simple. Ideas are projections and they never give up as long as there is fuel to light them.

This is what Buddha did, in his own time: During a movies projection, he turned all the lights on. The audience stoned him to death.


We can expect more of this. Talking heads. In the meantime, situation will keep deteriorating as always.

You can forget about science (of economy or statistics) having anything to do with the global crisis. It's someone else, someone whose lair stinks with tausandjahres stench.

Is The Euro Summit Already A Failure Following An Early EcoFin Meeting Cancellation?

The European farce descends into surrealism and gortesque tragicomedy. Just out of the FT's Brussels Blog which discussed what appears to be an early cancellation of the critical EcoFin (not to be confused with Euro Coffin) meeting: "A letter sent last night by Jacek Rostowski, the Polish finance minister, makes an [EcoFin meeting doubtful]. Since Poland currently holds the European Union’s rotating presidency, Rostowski is charged with convening a meeting of all 27 EU finance ministers tomorrow ahead of the big summit to lay the groundwork for a final agreement. But officials tell Brussels Blog the so-called “Ecofin” council meeting is now likely off, and in a letter to Jean-Claude Juncker, the Luxembourg prime minister who chairs the group of 17 eurozone finance ministers, Rostowski makes it appear the cancellation is due to a failure to agree on outstanding issues." No.... they couldn't agree???Nobody could have possibly foreseen this. Nobody.

MUHAHAHAHAHAHA

What this means is that as we get closer with each day to a "free fall" Greek bankruptcy, the only weapon left for the global central bankers will be the bazooka option: namely wanton, gratuitous printing of money, Weimar republic flashbacks be damned. Which is why, for once, Gartman's bullish sentiment on gold may actually not be a contrarian indicator...

And Germany will no doubt leave if that happens...i hope.

Edit: EcoFin Meeting Cancelled, Euro Plunges

Lots of Reds...

Humm interesting, the power struggle in the UK is growing, also.

UK lawmakers defy gov't over Europe

British lawmakers on Monday overwhelmingly rejected a motion to hold a national referendum on leaving the European Union, but Prime Minister David Cameron suffered a bruising as several Conservative Party lawmakers rebelled against his orders and supported the bid.

The revolt within the ruling Conservative Party ranks underscored discontent with Cameron's stewardship — an unhappiness that has grown following his handling of riots that gripped the nation in August and his decision to hire a suspect in Britain's phone-hacking scandal.

Interesting, So going against their own government on this will bring disciplinary action.

The government had ordered its lawmakers to vote against the referendum on whether Britain should remain in the EU, leave it, or re-negotiate membership, and said those who backed it would face disciplinary action.

www.mediacomtoday.com...

Now it is getting (even more) interesting...

Gold, Silver Surge

Gold finger? Or did the market just get it through its greasy, vacuum-tubed head that the only option for the status quo cabal to preserve said status quo is to print, print, print? Or, perhaps this headline from the FT is finally getting some play: "Italian government on brink of collapse." Or, perhaps this one: "Eurozone crisis fund ‘may be weeks away’." Or, has the break out, predicted yesterday, commenced? Stay tuned to find out.

Large Spike upwards...are the Manipulators out of Gold finally? Who knows...

FT Reports Italian Government On Brink Of Collapse

This has been reported since Yesterday here in Germany...Bunga Bunga has Problems,which is nothing new,but they may have just gotten (alot) bigger

Certainly not helping European sentiment is the report from the FT that "Silvio Berlusconi’s centre-right coalition government in Italy appears in danger of collapsing over European Union demands for a demonstration of concrete action on economic reform by Wednesday’s summit of eurozone leaders. The EU ultimatum delivered to Mr Berlusconi in Brussels on Sunday risks breaking his coalition instead of giving it an external impetus to move ahead on measures to cut Italy’s debt and promote economic growth."
[...]

But there is still hope...

In other news, it appears that the spin which is so far keeping the Euro from collapsing on tomorrow's now disclosed EcoFin meeting cancellation is that even though Europe's finance ministers can not agree, 24 hours ahead of the deadline, on the formulation of the most complex SPV ever conceived, somehow the Eurozone leaders will succeed...

Just wow.

I´d say,this may be it. There are now just trying to delay the inevitable for a Day or two...FUN

reply to post by Shenon


I don't get it the nations in question including the US wants austerity to fix the financial problems but what has this nations done with the wealth of the nation?, they have gamble the wealth away and now they want the people to keep bending over and nothing else.

Originally posted by marg6043
reply to post by Shenon

 

I don't get it the nations in question including the US wants austerity to fix the financial problems but what has this nations done with the wealth of the nation?, they have gamble the wealth away and now they want the people to keep bending over and nothing else.

Actually, you just have synthetised the world economic situation since the post WW2 !