Wednesday, February 9, 2011

Shameless

I saw this piece out of Europe this morning and my jaw hit the floor. The Belfast Telegraph is reporting Ireland Bank Boss Dukes Bombshell: Republic Needs another 15 billion Euro.

"The Republic of Ireland will have to go to the IMF/EU for another €15bn - on top of the €35bn already earmarked - to save the banking system, according to the government-appointed chairman of Anglo Irish Bank.

In a bombshell revelation, Alan Dukes said we will need 40pc more, or €50bn, to properly clean up the banks.

The former finance minister also sensationally suggested €75bn would be needed to fund the existing NAMA operation and a so-called 'NAMA 2' to take more bad loans from the banks."



These bankers brazenness knows no bounds, these white shoe thugs simply have no shame.

Oh yeah, before I forget I should remind the Irish citizenry that it'll be Armageddon if they don't pony up the extra 15 bill - martial law, tanks in the streets, you know the drill.

These maggots have no shame. For those Ivy league types who might struggle with a word like shame I'll help you out.

shame
–noun
  1. feeling arising from the consciousness of dishonorable, improper, ridiculous, etc., done by oneself: She was overcome with shame.
  2. susceptibility to to be without shame.
  3. disgrace; ignominy: actions brought shame upon his parents.
  4. a fact or circumstance disgrace or regret: The bankruptcy of the business is a shame. It was a shame you couldn't come with us.
Oh yeah our banks over here are in just super shape. Just so long as you keep drinking the kool- aid. Someone please pass me the Prozac.

Good speculating to you all and please remember to never forget that "an investor is a speculator who made a mistake and will not admit it".


Open Positions:
Long 1 unit Direxion Large Cap 3X Bear ticker BGZ @ $19.34
Long 2 units Direxion Small Cap 3X Bear ticker TZA @ $60.30
Long 1 unit Direxion Emerging Mkts 3X Bear ticker EDZ @ $60.50
Long 2 units Direxion Financial 3X Bear ticker FAZ @ $19.65
Long 2 units Ultrashort Xinhua China ticker FXP @ $42.45
Long 1 unit Ultrashort Real Estate ticker SRS @ $49.10
Long 2 units Direxion Tech 3X Bear ticker TYP @ $52.60
Long 1 unit U.S. Dollar Bull ticker UUP @ $22.56 stop @ $21.44
Long 1 unit Powershares Gold Dbl Short ticker DZZ @ $8.38 stop @ $7.84
Short 1 unit Freeport McMoran ticker FCX @ $56.40 stop @ $57.76

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