35 % leur restent sur les bras
si l'allemagne n'arrive pas à lever les fonds dont elle a besoin ... imaginez pour les autres pays européens ...
bref, l'alternative planche à billlets devient de plus en plus inévitable
commentaires détaillés chez www.lemetropolecafe.com German Auction ‘Disaster’ Stirs Crisis Concern
By Paul Dobson - Nov 23, 2011 7:00 AM ET Germany
failed to get bids for 35 percent of the 10-year bonds offered for sale today, sending its borrowing costs higher and the euro lower on concern that Europe
’s debt crisis is driving investors away from the region.
"This auction is nothing short of a disaster for Germany," Mark Grant
, a managing director at Southwest Securities Inc. in Fort Lauderdale
, said by e-mail. "If the strongest nation in Europe has this kind of difficulty raising capital one shudders concerning the upcoming auctions in other European nations."
The debt crisis that began more than two years ago in Greece
and snared Ireland, Portugal
has closed in on France and now risks engulfing Germany, the region’s biggest economy. Political leaders are struggling to find a fix for the crisis, with German Chancellor Angela Merkelrejecting proposals for the common currency-area bonds, while the European Central Bank resists calls to boost sovereign debt purchases…http://www.bloomberg.com/news/2011-11-23/germany-fails-to-receive-bids-for-
To all; I had not planned any commentary today but events in Europe have changed that. Germany has had a failed auction while trying to sell 6 Billion Euros. They only received bids of 3.7 Billion meaning only 65% of the auction was subscribed for. This has huge ramifications, none of which are good. If Germany, the "stable core" of Europe is being shut out of the credit markets...what does that mean for the rest of Europe. In reality, Germany is nowhere near the insolvent deadbeat that the U.S. has become, what (when) does this mean to the U.S.?
I have basically skipped over all of the ramifications to Europe because basic common sense tells you that everything will freeze up creditwise if their "best" borrower cannot access the credit market. Next up will be the U.K., then Japan and finally the fabricator of this big rotten enchilada...The U.S.. Yes, yes I know, it can't happen here because the Fed will step in, they will print and they will buy. In fact, they are already doing this. Not because they "want to" but because they have already been FORCED TO! The real bids don't and have not covered the auctions for quite sometime. The only difference now is that the Germans are not as big of liars as our administration and system of finance, they are actually admitting failure. They are not borrowing what will not be lent...for now.
I believe it is only a matter of time (probably over this weekend) that the decision to outright monetize is decided upon. I don't think they have any choice now, the market has spoken loud and clear. As I have said for quite sometime, WATCH the credit markets as they will tell you the real story because they are TOO big to manipulate forever AND they are the life's blood to the entire Ponzi scheme.
Regards, Bill H.
The bottom line is the financial markets in Europe and the US are entering the END GAME phase. There are no solutions to the growing fiscal problems in each sphere … except for the citizens of Europe and the US to accept a 35% drop in their standard of living and deal with coming massive inflation. Both spheres are broke due to living beyond our means. Governments and politicians have allowed this to occur and now the Piper must be paid.
You have heard this from me and contributors to this column for years and now it is upon us.