Wednesday, June 29, 2011

Extortion goes Global

I want you to read carefully the attached article 'World Economy at stake in Greek austerity vote.
It should give you an idea the ends to which a certain species will go to preserve itself and its masters.

Read and marvel at the audacity of the threats from this trough feeding maggots known as bureaucrats.

"There are decisive moments and the coming hours will be decisive, crucial for the Greek people, but also for the eurozone and the stability of the world economy," EU president Herman Van Rompuy told the European parliament.

Of course the world economy is at stake. I would counter that it would be more dangerous to cancel Jersey Shore or American Idol rather than a Greek default.

Next check out this Van Rompuy cat. Careful now as this 'maverick thinker is a real possibility to be the next yes man chairman of the World Bank or a major Wall St. firm.

Prodding Greek politicians to "take their responsibilities," Van Rompuy said "the more unanimity there is, the more unity there is, the better for the people of Greece and our future."

Not to be outdone water boy Olli Rehn is up to bat next...

European Union economic affairs commissioner Olli Rehn said Greece was facing a "critical juncture," and that "both the future of the country and financial stability in Europe are at stake.

"I trust that the Greek political leaders are fully aware of the responsibility that lies on their shoulders to avoid default," he said.

"The only way to avoid immediate default is for Parliament to endorse the revised economic programme."

"To those who speculate about other options, let me say this clearly -- there is no Plan B to avoid default," he said.

Translation: accept my banking master's extortion terms or else. He then seamlessly goes from extortion mode to liar mode with his quote there is no plan B. It is in his DNA which makes him a perfect candidate for the IMF.

A high-ranking European official, speaking on condition of anonymity, has said that a Plan B was in the works, stressing that "the next step is not a default of Greece."

Wait a minute! I thought Olli said there was no plan B. Sunnava......

You have to marvel at this species of trough feeder. Self preservation, up for sale to the highest bidder and the ability to convert food into shit are about their only traits

I caught a piece from Mohammed El-Erian yesterday (hat tip to Mish). I want to say that I have taken him to task for his role at the Harvard Endowment pre-blowup something that none of the boobs and boobs in chairs at CNBC wants or has the onions to question him about. I like his calm demeanor. He is a refreshing change to douche bags like David 'investing is easy' Tepper if there is such a thing on Wall St.

Having said this, El-Erian is not immune from the same disease infecting so many across the globe. Tow the party line to keep the global ponzi scheme alive. Every opportunity you have remind the sheep that its more heroin (more debt) or bust. El-Erian was out in full propaganda mode as evidenced by the piece El-Erian Says U.S. Debt Default Might Have 'Catatrophic' Effect.

Yes martial law if we do not raise the debt ceiling, tanks in the streets, no Doritos and Pepsi on supermarket shelves, complete armageddon if any debtor does not accept the terms of the bankers.

Housekeeping notes;

I was stopped out last week of LULU at @ 105.25 for a loss of about 2.5 pts on 1 unit.

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 @ $96.70
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 @ $98.25
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

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