There can only be a Central Bank buyer for Italian 2023 & 2028 bonds yielding a few percent…that game can’t go on forever…

Draghi cannot legally buy Italian debt, under the terms of the ECB charter….but because it means the EU can still buy lunch in a 7 star restaurant, sorry it is for the good of the people, no -one has stopped him. A real audit of the ECB would find it is broke so many times over, they dare not do one and publish it.

I heard today that the German middle class, has lost 1/2 Trillion Euro’s in lost interest since QE and the German share of Target 2 is now close to 1 Trillion Euro’s…which means the likes of Italy, Spain, Greece etc owe a huge chunk of that 1 Trillion…that debt is over and above any bonds they owe.!!!!

The whole EU experiment is operating outside all fiscal rules and laws, but no-one stops it….that’s why if the Italians elect a so called populist government, they will clash head on with the EU/ECB, then either the EU/ECB gives in and lets all fiscal discipline go, or the Italians will walk and bring the whole charade down. But if the EU gives in Germany will go ape, as it’s their money every one is pissing away….

In short the end game has started, the middle class’s across the EU have had had it with the EU and are voting for the new anti EU political parties.

Globalization Was Monetization Of Poverty

Could have made that a one word article.

MANIPULATION

There can only be a Central Bank buyer for Italian 2023 & 2028 bonds yielding a few percent…that game can’t go on forever…

The end is nigh, brother, the end is nigh!

World markets are like a pie crust stretched across the roof of a volcano!

Fu Manchu is about to pull the lever to the trap door!

Warbucks signals the trusty  Punjab to cut the cords of the rope bridge!

Grease the skids! Happy tobogganing!

USD crushed, SM roaring back, pm’s down.

Got ya!

Well if that’s like anything here in Calif politicians hope that doesn’t mean higher and higher energy prices and cold winters.

It’s just a blip of things to come. Can’t stay in a short more than a day but don’t think you can short bonds there.

One day after an unprecedented, record crash in Italian 2Y bonds and a rout across the entire bond curve as well as Italian stocks, which proceeded to spill out and impact other European banks and “contage” the Euro amid a growing political crisis in Rome, Italian bonds rebounded in early European trading as the panic liquidation was put on hold for now, sending 2Y Italian yields as low as 1.925% after hitting a 5 year high of 2.84% on Tuesday.

https://www.zerohedge.com/news/2018-05-30/global-stocks-us-futures-rebound-italian-bond-panic-eases-euro-jumps

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readers comment=

Global Stocks, US Futures Rebound As Italian Bond Panic Eases; Euro Jumps

https://www.zerohedge.com/news/2018-05-30/global-stocks-us-futures-rebound-italian-bond-panic-eases-euro-jumps

The downtown landscape is pretty much unrecognizable now! Google earth has captured all of Denver in 3D with lidar. Do something without a permit and the matrix now knows. Google Earth Pro has been free for a while now. Lidar changes everything. There’s a 3D building button that can be turned on and its amazing. Especially places like disney world where it was mapped in high res. Want to be nosey? This is the tool.

https://www.google.com/earth/download/gep/agree.html

Italy just jumped bonds bought the SM lol

It’s the derivatives derived short squeeze de jour.

Should not go very far however.

Cheers

Good call on SM…now 250 plus points above ystdys lows…..who or what is Italy !!!!

I see yr only $ 800 and completely agree, as we have entered another time where the SM is vulnerable.

As I keep saying it’s only the Rig holding it all together, what is now a hopelessly fragile financial system, tks to breaking all the rules of sound finance. But now there are serious head winds coming out of the EU, that can only be solved by admitting they got it all wrong and trying to unwind it all in an orderly fashion.

Problem is not one of them has ever shown that kind of common senses, they have screwed everything up always, the odds on this time being different are minimal.

Plus it is all happening when E-wave says we are about to enter a 2 wave correction of the move from 2009…which is exactly what happened in 1929.!!!!

I agree but now it’s a bit different, it’s much worse. The got people like that fake black Muslim according to other Muslims Faulkner or something calling to kill all whites but they don’t shut him down or even have him investigated as far as I know.
They have Obama also a race baiter and anti Jew Anti Christian propaganda. I expect that’s what they will be doing on their show. He takes versions of the Bible old testimony New Testament mix them up and misrepresents them to mislead to pull people away from God and the bonds that hold them together as well as the Tora he’ll through in trying to make it look evil.

Wack a mole lol Sounds like southern Ca border patrol lol
I saw some guy on TV who said he waited but it came up on him and was coming in his living room.
Think the funding should be brought to Trumps attention. Instead of so many houses destroyed first it should be based on the amount of houses say after ten and the amount of money depending on the amount of property loss and people displaced in places like that because it is not as heavily occupied as the mainland plus guessing not a lot of rentals either. Rentals everywhere have went up astronomically last few years and would be hard to impossible in some areas for retired people on limited income to make it. I don’t know how the young are doing it besides having to kill themselves working 2-3 jobs to pay for these greedy places. I can see why so many just went off the grid. Third world is starting.
The brain dead in Calif says build more like we have unlimited land and won’t change anything less they designate them based on income and eliminate gangsters and illegals getting them by proof of citizenship but that’s not gonna happen.
I’m glad Pele spared you.

The Rio Grande Zephyr on platform 2,
The Cheyenne Frontier Days steamer on platform 3,
Choose your gold train!
http://www.railpictures.net/photo/658955/

Lava fissures continue to play “Wack-A-Mole”.  Now Fissure 8 was spewing 200 foot fountains today.  It produced some glass fiber ‘Pele’s Hair’ that fell on Pahoa town with south storm winds and rain all day.  The lava from fissure 8 advanced across Hwy 132 today, cutting the main road to Kapoho.  Access is now limited to Beach Road that goes around Cape Kumukahi.  The flow also took out about 40 power poles of the main line that feeds Kapoho, Vacationland, and Pohoiki, so the east side of lower Puna is without power now, and will be for a long time.

Listened to a couple hams in the area testing their radios and running generators now.  Cell service in the area is non-existant, so they are thankful to have some emergency radio contacts.  The emergency radio club has a solar-powered off-grid repeater system in the area.  Many homes in the area are also off-grid and they are coping just fine… as long as they have a way out.  National Guard has stationed a couple of Sea Stallion choppers at Hilo in case air evacuations are needed.  The choppers can seat 45 people at a time.

One state lawmaker flew over the PGV plant which now has two wells covered with lava, and he opined that the geothermal plant is finished.  “Pele has wrapped her arms around the plant, and it looks like she will take it all”.

Convoys of heavy equipment, dozers and rock rippers have made their way down the fractured and steaming Hwy 130 to Kalapana in the western half of lower puna.  They will shortly start restoring Chain-of-craters road to the west, across the recent lava flows to the ocean that have now gone cold.  So there will be emergency road access to Kalapana if the steaming cracks in Hwy 130 suddenly become eruptive and cut that highway.

US senator trying to help, but Federal Funds and FEMA will not kick in until a certain threshold has been reached.  He says it will take the loss of 173 homes before federal funds and help are available.  So far the count is at 85.

So much for our slow-motion disaster-in-progress.