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Containment Fails: European CDS Explode As Market Looks To Future Bail Outs, Bank Runs

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posted on May, 5 2010 @ 12:50 AM
Containment Fails: European CDS Explode As Market Looks To Future Bail Outs, Bank Runs

Now that Greece is thoroughly irrelevant, the market just told the ECB, the IMF, and the EMU to prepare another $1 trillion in bailout packages. The reason: the Greek bailout just made it abundantly clear the bond vigilantes have free reign to call the bureaucrats' bluff whenever they see fit. The result: CDS of all non Greek PIIGS are now blowing out, and represent the top 4 names of all biggest CDS wideners for the day, each pushing a 10%+ change from yesterday. This movement wider will not stop until the IMF resolves to backstop all the PIIS ex. G. At this point nothing that happens in Greece is important, although the thing that will most likely happen is that the Greek government will fall imminently, killing the austerity package and destroying whatever credibility the EMU and the EU have left, but not before the IMF and the EU soak up another 110 billion euro in their slush funds. However, even with the bailout the Greek stock market is tumbling: the Athens Stock Exchange is now down 3.4% to just under 1,800. As we expected, the euro is about to breach 1.31 support. At that point, not even the US algos and the Liberty 33 traders will be able to prevent the contagion. And adding insult to injury is the latest rumor of an upcoming downgrade or very cautious language of Germany by the suddenly hyperactive rating agencies. When that occurs, you can kiss Europe goodbye.

Biggest CDS intraday movers (from CMA):
Spain +18.53%
Ireland +13.53%
Portugal +13.17%
Italy +10.98%

Ooops....more bailouts ahead... europeans taxpayers raped...and probably US taxpayers too, I'm pretty sure the FED is giving them money too under the table.

Could also kill the Euro and let all those countries fall to the IMF bloodsuckers...then the domino effect on the UK/US and the worldwide economy...

Prepare for the so called ``IMF RIOTS``... not to mention the coming calls for a ``world solution`` or a ``world government`` able to contain the crisis...

What an IMF riot is :
From Joseph Stiglitz, nobel prize winner, former chief of the world bank...who's not a traitor...
The IMF 4 steps to economic damnation

At this point, the IMF drags the gasping nation to Step 3: Market-Based Pricing, a fancy term for raising prices on food, water and domestic gas. This leads, predictably, to Step 3l/2: what Stiglitz calls "the IMF riot." The IMF riot is painfully predictable. When a nation is "down and out, [the IMF] takes advantage and squeezes the last pound of blood out of them. They turn up the heat until, finally, the whole cauldron blows up"—as when the IMF elimi­nated food and fuel subsidies for the poor in Indonesia in 1998 and the nation exploded into riots. There are other examples—the Bolivian riots over water price hikes pushed by the World Bank in April 2000 and, in early 2001, the riots in Ecuador over the rise in domestic gas prices that we found in the secret Ecuador "Assis­tance" program. You'd almost get the impression that the riot is written into the plan.

Just for example, in Bolivia, it was an evil plan... just read...

In Bolivia, the water was free before the IMF came in. Then the IMF came in, privatized the water. And that means RAINWATER TOO. The water company that took over hired thugs to go around poor neighbourhoods to see if the poors were collecting rainwater...if they did, they arrested them or beat them up. THAT WAS TOO MUCH FOR THE BOLIVIANS.


Can you think of a more evil plan? I can't.

If the bankers are willing to privatize nature like that, they are capable of ANYTHING.

[edit on 5-5-2010 by Vitchilo]

posted on May, 5 2010 @ 01:20 AM
Now, I hope that list of the IMF heads and owners has made it around.

A lot of people spent a lot of time putting that list together.

edit to add-They made one minor error in the plans, it IS the information age.

[edit on 5/5/2010 by endisnighe]

posted on May, 5 2010 @ 02:12 PM

posted on May, 5 2010 @ 04:05 PM

Originally posted by belial259

I dont believe the guy he is interviewing, So he doesn't see an effect?
I guess his there to promote his book, afterall then the interview guy mentioned it?

The European countries are already facing tough problems even without greece.

posted on May, 5 2010 @ 04:20 PM

I don't think anyone could ever sum the UK's interest in the EU up, better than Sir Humphrey.

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