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cgnao

But... but... didn't they say that it was contained?

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cgnao, how much longer do we have to wait?

Think the whole house of cards will collapse by Nov?

 

Nobody can know exactly but it is imminent and they know it:

 

http://www.bloomberg.com/news/2014-07-30/eu-puzzles-over-emergency-funds-for-bank-crisis-agency.html

 

 

The European Union wants to know how far its national governments are willing to go to ensure that the euro area’s new bank resolution authority has the funds it needs in an emergency.

 

As part of its drive to prevent future financial crises, the EU created the Single Resolution Mechanism for the euro area backed by a 55 billion-euro ($74 billion) fund to cover the costs of saving or shuttering banks. During the eight years when the fund is filling, or if even the full amount proves insufficient, it may need extra bridge-financing cash fast to get the job done.

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A stock market crash might help take minds of War crimes in Palestine.'

 

Frankly, if the Zio bankers lose billions on a wall street crash, I will cry no tears for them.

 

But many of the biggest gangsters may be prepared and even benefit from the crash,

 

I do worry about ordinary people who are holding financial instruments.

 

And why in heavens name is the USD rising? It is because the Euro is so weak?

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Hi Cgnao,

Nice to have you back!

CC

 

Don't be so happy. I am back with a warning.

 

This is the tip of the iceberg, it is systemic and contagion has already started.

 

Remember the fundamental rules of panic:

 

1) don't panic

2) panic first

 

http://www.bloomberg.com/news/2014-07-30/banco-espirito-santo-posts-first-half-loss-of-3-6-billion-euros.html

 

 

Banco Espirito Santo SA’s stock plunged by the most on record and the bonds slumped after it was ordered to raise capital following a 3.6 billion-euro ($4.8 billion) first-half net loss.

 

The Bank of Portugal required the lender to raise the money after it set aside 4.25 billion euros in the first half, mostly to cover souring loans to other members of the Espirito Santo Group. That cut Banco Espirito Santo’s common equity Tier 1 ratio to 5 percent, less than the 7 percent regulatory minimum, according to a statement yesterday. The central bank is also probing the lender’s former managers and suspended executives in charge of audit, compliance and risk management.

 

“It’s a very substantial capital increase in a difficult environment,” said Benjie Creelan-Sandford, an analyst at Macquarie Bank Ltd. in London. “There is a question whether there are investors given the size of the capital increase needed or if they will need to resort to state aid. It is there as a last resort. The implied size of the capital increase to get them where they were before is about 3 billion euros.”

 

The stock sank as much as 51 percent, the most on record, to 17 euro cents, and traded at 21.1 cents as of 1:50 p.m. in Lisbon, valuing the bank at about 1.19 billion euros.

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Ah, bank analysts - who pays any attention to their crud?

 

http://blogs.wsj.com/moneybeat/2014/07/31/nomuras-bes-misstep/

 

A tough day for bank analysts at Nomura.

Early Thursday, the Japanese investment bank sent out a note to clients recommending that they buy equity in Banco Espirito Santo SA.

Within hours, the stock price had tumbled more than 50% to €0.17 per share. Nomura’s target price for the stock is €1.10, and has been since February when it was cut from €1.50.

Nomura repeated the buy recommendation it has held on BES in the face of relentlessly negative news about Portugal’s second largest lender ....

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Haha.

They must have had some "product" to sell off

 

This has some useful ideas about the Timing of the first leg down

 

 

Michael Pento makes a strong argument

 

MP3 : http://kingworldnews.com/kingworldnews/Broadcast/Entries/2014/7/24_Michael_Pento_files/Michael%20Pento%207%3A24%3A2014.mp3

 

He expects a 20% drop in US stocks in the next 90 days

 

Wednesday, July 23, 2014
Michael Pento: President of Pento Portfolio Strategies - Michael is a well-established specialist in the “Austrian School” of economics.
A regular on CNBC, Bloomberg, Fox Business, and other national...

 

=

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Don't be so happy. I am back with a warning.

 

 

 

My comment might just have had a little bit of eyebrow to it! (as did yours).

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How are playing all of this Cg?

 

Bullion and puts?

 

It's rigged and it will be chaotic. There's no point in playing it. Just keep it simple, hold onto the old yella and wait for the bargains after the carnage. There'll be plenty but the world will be much different and less pleasant.

 

Meanwhile Espirito Santo keeps selling off despite the short sales ban. Not even a dead cat bounce, it's been suspended now. This is serious.

 

http://www.cmvm.pt/en/comunicados/comunicados/pages/20140801m.aspx

01 August 2014

 

In accordance with Articles 214 and 213/2/b) of the Portuguese Securities Code, the Executive Board of the CMVM (Comissão do Mercado de Valores Mobiliários) ordered the shares of Banco Espírito Santo, SA to be suspended from trading until material information on the issuer is disclosed.

 

The Executive Board

 

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It's rigged and it will be chaotic. There's no point in playing it. Just keep it simple, hold onto the old yella and wait for the bargains after the carnage. There'll be plenty but the world will be much different and less pleasant.

 

Meanwhile Espirito Santo keeps selling off despite the short sales ban. Not even a dead cat bounce, it's been suspended now. This is serious.

 

http://www.cmvm.pt/en/comunicados/comunicados/pages/20140801m.aspx

There are still quite a few who are quite adamant there's no manipulation. Odd really.

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Well, it seems like I have to gather worthless money and buy some land and put seeds there to grow food....

 

I mean, after economics has collapsed, I see food having much higher value than metals like gold.

 

You can not eat gold, can't you? What do you think?

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Marc Faber used to advocate buying farmland.

He probably still does but my sub lapsed in 2010 so I'm years out-of-date with what's going on.

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Well, it seems like I have to gather worthless money and buy some land and put seeds there to grow food....

 

I mean, after economics has collapsed, I see food having much higher value than metals like gold.

 

You can not eat gold, can't you? What do you think?

Oh economics won't collapse. Not the honest kind anyway. The printy printy thin air betting kind don't look so good though.

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The Financial Ebola is now unstoppable.

 

http://online.wsj.com/articles/espirito-santo-financiere-files-for-creditor-protection-1406911353

Updated Aug. 1, 2014 4:14 p.m. ET

LISBON—The dramatic fall of troubled Portuguese conglomerate Espírito Santo International SA, which has hit hard the country's second-largest bank by assets, continued to create a cascade of creditor-protection filings by related entities.

Shares of the lender, Banco Espírito Santo SA [bES.LB -40.30%] meanwhile have been halted from trade Friday pending an announcement. Investors and analysts are eagerly awaiting a plan to recapitalize the bank, which recorded a sharp loss for the second quarter as it was forced to write down its exposure to the conglomerate.

 

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Marc Faber used to advocate buying farmland.

He probably still does but my sub lapsed in 2010 so I'm years out-of-date with what's going on.

 

It may be difficult to buy, and difficult to hold onto.

And it maybe be impossible to sell

Most important of all... Where?

I would be very careful about buying land or property in the US now

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I think Faber published an article from some hedge fund that wanted to acquire farmland somewhere in eastern Europe. I remember reading something about how rich the land was for farming. From time to time, Faber posts flyers from hedgies that he likes.

 

The USA would not be a good place to buy farmland - there must be a higher risk of GMO contamination there than anywhere else, surely.

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PANIC! Stocks Slammed on Gross Deflation Fears in Europe

 

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Comment from there:

Some wish: The Death of Capitalism. But It is certainly not Capitalism. Maybe it is Zio-Capitalism, where small entrepreneurial business and free markets are squeezed and manipulated to serve Big bankers, Big pharma, Weapons-makers, and the goals of international Zionism (ie Israel controls the lawmakers.) It is a cesspool. And we need to unwind the Zio system of control, and get something cleaner, which serves people, small business, and local communities. Don't blame capitalism - Blame all the control mechanisms which have morphed it into something toxic.

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A Loss Of Human Life On An Unimaginable Scale Is Coming.. 11 comments
Aug 1, 2014 12:39 PM



For years now I have been saying that the "greatest threat to Humankind" is not terrorism, disease, or even war. It is the global debt bubble which is now engulfing the world, and that bubble appears ready to burst.



All of the unrest sweeping the globe today is a grab for finite resources, it's that simple. We are also witnessing a shift in global influence and power from West to East. By world governments colluding with their central banks, a very dangerous mechanism has been allowed to fester and balloon into a bubble so large it's bursting will wipe out human life on a Biblical scale. In effect we have through the mechanism of pulling resources from the future in the form of debt, created an alternative universe and that bill is coming due. How long have we all heard that the issue of debt just here in America is not sustainable? Decades..



When this bubble in debt bursts resources which we have had unfettered access to will no longer be available, and even basic items needed to survive will no longer be available. This will lead to social unrest all over the globe, wars, murder, disease, starvation, death.


==


>Greg Mannarino : http://seekingalpha.com/instablog/29482055-gregory-mannarino/3120975-a-loss-of-human-life-on-an-unimaginable-scale-is-coming


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A Loss Of Human Life On An Unimaginable Scale.............

You should leave the Hieronymous Bosch porn magazines alone.

 

This is an everyday story about a bank in this day and age, going through publicly, what most banks are managing to do in the privacy of their own bedrooms.

It is not the end of life as we know it, nor is it the dawn of a Malthusian nightmare.

 

War is indeed the greatest threat to us all, but we can do without the drama queening.

..._

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a large percentage of the global population is currently living a malthusian nightmare,

it's just the global debt system that is currently giving us access to the resources and denying it to them

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You should leave the Hieronymous Bosch porn magazines alone.

 

This is an everyday story about a bank in this day and age, going through publicly, what most banks are managing to do in the privacy of their own bedrooms.

It is not the end of life as we know it, nor is it the dawn of a Malthusian nightmare.

 

War is indeed the greatest threat to us all, but we can do without the drama queening.

..._

 

Leuren Moret has really "lost it", and thinks the population reduction has already happened:

 

+Paul stresing According to the UN there are 3 billion people in the entire world - they have killed off the rest of the global population already with radiation, pathogens, chemtrails, GMO, vaccines. I guess that if we turn every one of your comments backwards we can believe you, but not what you are leaving as comments. Profanity is not acceptable in the comment section.

> Under YouTube Interview

 

How can the UN suddenly lose as many people as exist in China plus India?

 

The Numbers matter, when you run the maths...

 

(from a comment under that article):

The real bubble was harnessing oil for energy. Early in the 19th century we had 1:20,000 ratio. Now it's down to what.. 1:200.

Divide the planet's land surface by 8 billion people and that leaves 5 acres each.

That means if every person where to grow a farm and separate themselves from the infrastructure that they rely upon then a die off could be avoided - except we are still causing mass extinction on this planet, acidifying the ocean, and diminishing the ozone, while also priming ourselves to be carriers of super diseases.

We simply cannot have this kind of hockeystick growth in population and the debt markets are a good representation of that.

Had the entire world prepared for this for at least the last 50 years like they prepared for a world war or the moon landing then we could of pulled through but to ignore the problem completely - is suicide.

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