Monday, September 1, 2014

The Day The Wheels Fell Off...

The Day The Wheels Fell Off...


REFERENCE  that P&F chart on DA's site, the last column whose low is 1074 marks the end of a 5 wave decline from 1370. Wave 2 from 2009 should have ended here. There was a rebound that ended at .618 and began falling....That's when the wheels fell off...12/21/2011 Mario Draghi implemented LTRO repo-scheme to the Eurobanks and it was all over for Elliott analysis. The retracement is making new highs to this very day. Yet EURO bond yields have dropped ever since, to today's current rates LESS than here in the USTreasuries...

See Elliottwave's interpretation of the decline and retrace on PAGE 5 of November 2011's EWFF:


How did Draghi get buyers for all that sovereign debt? Does this point coincide with the Fed's POMO operations that gave USD to all 18 Primary Dealers? (12 of whom are Foreign Banks,  8 european...+ 5 US dealers who are Multi-National in scope)

Bank of Nova Scotia, New York Agency
BMO Capital Markets Corp.
BNP Paribas Securities Corp.
Barclays Capital Inc.
Cantor Fitzgerald & Co.
Citigroup Global Markets Inc.
Credit Suisse Securities (USA) LLC
Daiwa Capital Markets America Inc.
Deutsche Bank Securities Inc.
Goldman, Sachs & Co.
HSBC Securities (USA) Inc.
Jefferies LLC
J.P. Morgan Securities LLC
Merrill Lynch, Pierce, Fenner & Smith Incorporated
Mizuho Securities USA Inc.
Morgan Stanley & Co. LLC
Nomura Securities International, Inc.
RBC Capital Markets, LLC
RBS Securities Inc.
SG Americas Securities, LLC
TD Securities (USA) LLC
UBS Securities LLC.

My point being is that if all those individual country's bonds' buying is over, then there's a Road Runner 'Uh-oh" moment coming, as there is no other Greater Fool to flip the hot potato to. And those countries are in way worse financial indebtedness today than 5 years ago. You saw this>>>

Do you think Bernanke & Yellin followed through on the Tapering because they felt "USED" by Draghi? They did all the heavy lifting while Draghi did nothing more than jawbone?  BUT ISN'T THAT THE CONNIVING WAY OF AN EX-GOLDMANITE? He's a SQUID to the core, its becoming perfectly clear now.

I would definitely look for those S&P levels as THE END. (with a period).

Hey could the next scene out of the playbook look like this?:

The Fed's QE policies suckered the Euro nations into a fall sense of BORROWING BINGE security, and now they are loaded to the gills with debt!  It looks like it is easier to corner 8 smaller bond markets individually as opposed to 1 huge US Bond Market.

Defaults are inevitable, and will fall like dominoes in the Vendetta movie.

And US TBTF banks will swoop in and pick up the charrd remains of the Foreign banks to become WORLDWIDE TBTF banks (with the exception of the Norwegian & Swedish banks). And then Wave 3 down will begin, when the Global TBTF banks realize that even the assets they acquired at 1 cent on the Dollar are too much of a liability- they need to be wiped out completely! Its at that point that there is no possibilty of any financial wizardry that's gonna save their balance sheets.. Doom looms and causes panic selling of whatever they can get their hands on, oh wait let me revise that because we now know what thieves the banks are, THEY WILL SELL EVERYTHING WITH A BID, whether they own it or not, just to get the credits in their accounts.

There are upcoming events that we have never seen before, the details of which we've never IMAGINED before.... I believe the banksterz will show themselves to be the thieving demons that Matt Taibbi and Max Keiser have always told us they were, and even they will have under-estimated the depths of depravity ...

Don't forget to see this: ALMOST TIME FOR QE4

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