On Thursday, June 21, 2012 8:50:21 AM UTC-4, (unknown) wrote:
> good morning, does everyone have their harness on?
> gold dropped to 1585, euro dropping, mkts are mixed some+ some-
> shows wobble at the top. Eu wont have enough $ to bail everyone out.
> They cannot print more $ or hyper inflation will destroy all the euro.
> and will let the weaker fall to save the stronger norther core.
> Wait until the weak Eu countries find out the strong ones are going to cut
> them off,
> and then it will be on again, as always in history, they will hate each
> other again, sad so sad.
> Party almmmost started!
> ECB RATES or one more 3 yr loans? (to healthy banks)
> Thu Jun 21, 2012 5:32am EDT
> overnight rates have approached
> the ECB's 0.25 percent deposit rate.
> High excess liquidity in the banking system - now at 785
> billion euros according to Reuters calculations -
> has led to heavy use of the ECB's overnight deposit facility,
> where banks parked 780 billion euros overnight. Before the
> financial crisis, the amounts were minimal.
> Money market rates have more than halved since the ECB
> flooded money markets with over a trillion euros of ultra-cheap
> three-year funding in twin operations in December and February,
> but the slide has levelled off in recent weeks as crisis
> tensions have risen and overnight rates have approached
> the ECB's 0.25 percent deposit rate.
> With markets awash with low-cost cash, the deposit rate acts
> as a floor for the money market as banks will only lend on open
> markets if borrowers are prepared to pay more than the ECB. An
> cut in the ECB deposit rate would lower that floor.
> Under European Union rules, were the European Financial Stability Facility
> to buy a country’s bonds, it would first require a formal request from that
> country. Purchases would only be made under previously agreed conditions
> that would have to be specified in a formal accord, or memorandum of
> “If those countries want help and if they cannot withstand the current
> borrowing rates, they have to say it and then the euro zone would look at
> it,” said one euro zone official.
> A spokesman for the European Commission, Amadeu Altafaj, said Wednesday
> that there had been no formal request for the European Union bailout funds
> to be used to relieve tension in bond markets. “We are just thinking about
> what instruments might actually be useful to relieve the tension on the
> market,” he said. “I don’t have any sign of such an intention, neither from
> Italy, nor from Spain, to request the activation of these
> instruments.”Under EFSF rules, the ECB must be consulted before the fund
> buys sovereign bonds. Mr Cœuré said the bank would be likely to back such a
> move because the borrowing costs were not a reflection of economic
> fundamentals but rather “the anxiety of market participants as regards the
> course of political decisions to be taken, in particular in Spain to fix
> the banking problem”.
> Mr Cœuré said cutting the ECB’s main interest rate from 1 percent was
> “certainly an option” and he expected it to be discussed at the next
> governing council meeting on July 5.
> “As regards the current crisis, it [a rate cut] could perhaps help to some
> extent, but, like all we do at the current juncture, it would certainly not
> fix the fundamental problems,” he said. “We are now in the third year of
> the European crisis and are coming to a point where some of the short-term
> fixes have been tested and exhausted and deeper questions are being asked.”
> On Thursday, June 21, 2012 8:14:19 AM UTC-4, HT wrote:
>> ARNA is rallying on lot's of speculation. there's recently been a lot of
>> documentaries on dieting and how X% will be obese by 2020 or 2030.
>> Regardless, it's a hot topic..
>> I don't have any stocks ATM that I'm willing to jump into.
>> Sectors? Energy (oil), and technology (cloud).