MERKEL BLINKS; MARKETS RIP

                   EU Summit – German Taxpayers Gunned Down

What a difference a day makes. Make no mistake, the release of Germany caving agreeing to fresh new German taxpayer money for the PIGS was quite purposefully made during the most quiet hours of the trading day. Seriously, who is watching their trading screen at that hour?

Oh well, EURJPY 50 pip range one day 300 the next; the ripfest continues on a Friday with utter abandon. The algorithm gave only sell signals today, of which I ignored completely. Why? It’s Friday and the probability for squeeze damage is very high. The algo doesn’t read the news, and it doesn’t know it’s Friday either.

There is a giant part of me that is still dealing with the implications of yesterday’s horribly Anti-American Supreme court ruling. Do you fully realize the ramifications of what Chief Asshat John Roberts has done? I’m not at all sure most people do. It means government can make rules regarding your behavior, tax it and punish you for not doing it; there are no limits now to what government can do to individuals.

I hope most of you are preparing to leave Amerika. I hope you are getting your ducks lined up and your affairs settled. What happened yesterday is theft of individual liberty and freedom and it’s only going to get worse. If you can’t see it for what it is, then you are delusional and no better than the Jews who stayed around Nazi Germany in the early 1930’s and pretended nothing bad would happen to them.

Amerika has forever turned the corner, and it is not a good thing. The unlimited universe of activity [or un-activity] that the Government will now tax has no bounds. If you have assets in this country, I would get them out of here as fast as possible; you are now officially a target with a great big red bulls eye on your back.

I can’t bring myself up to the level of a chuckle today. This is serious, and most people are worried what to have at the 4^th barbecue coming up. Like most everything, the sheeple of Amerika think nothing bad can ever happen; but it will and it officially started yesterday.

Have a good weekend everyone.

-vegas

IT’S A DATE!

                           Well, the Greeks Don’t Like Her Much

Sometimes, you just know a date is gonna go bad before it even happens. The hottest girl in high school has a date with the Chess Club president; dazzle her with your opening “King’s Gambit” and then show her your Indian defence – it’s the only chance you got man!

So, Merkel is gonna have a “pre-summit” dinner with Hollande of France; she with all the gold, he the socialist beggar looking for Eurobonds to spread periphery country risk to Germany. That this will end in disaster I’m fairly confident.

No, the real news from this event is this; who’s doing the catering?

If it’s up to Merkel, expect bratwurst with boiled cabbage and plenty of the steamy Kraut stuff, washed down with warm Heineken. Geez, it will take weeks to get the Kraut stench out of the dining room.

If it’s up to Hollande, expect Chilean Sea Bass in white wine sauce, asparagus spears drizzled with lemon sauté, a fresh raspberry soufflé for dessert, and wash it all down with a nice ’93 French Chardonnay [don’t get the ’95, it was a bad year].

“Honey, can we have this French menu tonight?”

“Shut up and eat your macaroni and cheese w/hot dog.”

Of course, if the “date” takes place in Brussels, where they hate both the Germans and the French, whatever they fix I’d have the taste testers in the room pronto.

And like all dates gone bad, where everybody looks to save some face and pretend all is well before it’s over, both will smile for the cameras and say something inane.

“So, Can I call you again Angela?”

“Sure Francois [rolling her eyes], but I got to tell you your chances are about one in a billion.”

“So you’re sayin’ I got a chance!! YESSSSSSSSSS.”

And so “Dumb & Dumber” [European political version] gets played out for all to see.

Don’t you just feel all warm and fuzzy with love stories like this?

Have a good day everyone.

-vegas

THE CLOWN SUMMIT

                                EU Summit List Of Participants

It’s only Tuesday, yet once again markets are held hostage through the next weekend, as the caterers ramp up yet again for another clown summit that is going to “fix” things in Europe.

“No seriously, this time we really, really mean it. As soon as the shrimp cerviche is finished we are going to really tackle the issues. Well, maybe after the raspberry soufflé for sure.”

“Uhm, yea whatever.”

So, expect the usual Central Planner nonsense all week; yup it’s fixed, Merkel says “Nien”. That the beggars, also known as “PIGS”, will be yakking all week with hand out and then trying to coerce Germany for more money, should be good entertainment. After all, when you are totally bankrupt and threaten to bring the system down, you are entitled to name your conditions – natch.

Anybody but me noticing hardly anybody is trading gold anymore? Volume is down, and except when the Central Planners got a 10,000 lot at-the-market to send prices down sharply in 2 seconds, intra day ranges and volatility aren’t that hot either. Gee, who could have seen this coming?

Once the weekend buffet summit is over, expect nothing new and the assault of the EURUSD to begin in earnest. It should be quite a show.

Have a good day everyone.

-vegas