Confusion...

A lack of communication may be the cause for the incident that occured when some Israel's soldiers boarded a boat attempting to violate the blockade imposed to Gaza in retaliation for the endless firing of rockets on Sderot, Ashquelon and some other cities and farms close to Gaza.

Nobody seems to have taken seriously that it was necessary to warn that the "humanitarians" onboard these ships were not professionnals but a team of golfers, another team of hockey, their technical staff, plumbers with their tools, butchers with their equipment and some fireworks technicians... engaged into a one time mitzvah, it did, it seems, send the wrong ideas about their intentions as nobody had been warned...? It may have sparkled the use of force?

Grenade thrown at IDF Soldier, VIDEO

http://www.theisraelproject.org/site/c.hsJPK0PIJpH/b.4916567/k.937E/Video_player.htm

Protesters attack with guns and knives, Israel Regrets 10 dead

Stats and Facts on Israeli Humanitarian Aid Transfers to Gaza First Hand Testimony of Israeli Journalist Who Accompanied the Israeli Naval Commandos
Israel’s Deputy Foreign Minister Danny Ayalon said in a press conference on Monday (May 31) regarding the Turkish-led flotilla that:
"The armada of hate and violence in support of Hamas terror organization was a premeditated and outrageous provocation.
"The organizers are well known for their ties with global Jihad, al-Qaeda and Hamas. They have a history of arms smuggling and deadly terror.
"On board the ship we found weapons prepared in advance and used against our forces. The organizers intent was violent, their method was violent and the results were unfortunately violent. Israel regrets any loss of life and did everything to avoid this outcome."[1]

Hey well, don't know yet.

You guys are terrible, have nothing to do? Done for the Asian Session?

they have a board across the street they're showing me at the window...!

Just heard they now call her Christine Irma I knew it Lagarde, stands for?

I'm done but what's yours? pink sheet I mean, use that ticker?

Have it? may go south,

Costas 14 - You can't accomplish income redistribution by deficit spending and private debt indefinitely...

Spain Socialists face deep crisis as support dives

His post,
There is absolutley no need to restructure Greece or any other E.U. members...Why? Euro's death, a done deal...

He don't buy... buys Nouriel's, hair cut to take place.

Send now, he's about to, Greece says no hair cut (CNBC), have it?

Do it first and yourself does look better, I guess.... didn't want the markets to be open when it will come out...

Reuters on board - France warns on credit rating

Europe debt crisis shows world troubles 'far from over'

Note de la dette, "objectif tendu"‎ (french, France AAA in danger says French Minister F. Baroin)

? are you finished with the graphs

Don't miss : Sovereign Debt Issuance to Speed Up, at Europe's Peril

Debt crisis is dark cloud over Europe

China fund ‘very concerned’ on shaky eurozone

China reviews eurozone bond holdings

Beware the 'Death Cross,' Sell into Rallies

Risk Outlooks: Volatility, 1,000-Pt Dow Drop in June

More Pain on the Way for Spanish Banks

Bond Distress Highest Since ’09 as Sales Vanish: Credit Markets

Barton Biggs Says Stock Market Set to ‘Pop’ in Days

U.S. Economy Expands Less Than First Estimated, Highlighting Europe Risks

Banco Bilbao Is Said to Be Unable to Renew $1 Billion of Funding, WSJ Says

A possible worth reading, what people may think can matter. It all depends on the view's perspective I guess. (nice sale.... I'm impressed)

Do We Get Gen "Why"?

Keep in mind, Eonia jumped 11.22 % today, Libor on thrise for the 12th day in a row (USD & EUR) over 5% today.

Goldman Sachs, BNP Paribas Are Downgraded by Bondholders: Credit Markets

Default on Debt May Be Only Option for Some Countries, Pimco's Gross Says

Euro sinks as bank funding fears rise

Japanese investors are not just worried about debt issued by the peripheral economies of Portugal, Italy, Ireland and Greece; they seem pretty uneasy about German bonds too.

Investor confidence index fell to a 12 month low at 88.2 in May. (State Street - April 99.4)

Credit View (Swiss rating agency) - Banks may have a capital deficit of 1.5 trillion by the end of 2011, some may require state support.....

Three-Month Libor Rises to Highest Since July as Crisis Erodes Confidence

Art Cashin: My Big Market Concern Right Now

What should you do?
Pisani: Sell on Monday—and Go Away?

Eonia was up too.....
Banks Most Exposed to Risky PIIGS Nations

Currency : Lira, Drachma, Deutsche Mark: How Valuable?

To be kept in mind, options to expire tomorrow.
How Low Can Market Go? Pros Say Slide Isn't Over

Fresh euro selling sparks flight from risk

Markets take fright at political disorder
Confusion over regulation moves trigger sell-offs...

Merkel urges ‘honest’ regulation advice

In depth Euro in crisis In depth Short-selling

Debate is on!

Naked Short-Selling 'Turns Market Into a Casino'

Why Short-Selling Ban 'Is a Mistake': Barry Ritholz

Do your homework for EU markets opening

Selloff Picks Up Speed on Fears About EU, Economy

Markets Exhibiting 'Flight to Liquidity': Pimco's Gross

El-Erian Says S&P 500 Plunge May Worsen as Europe Crisis Threatens Growth

Greek Crisis, Euro Decline Undercut Earnings of Renewable-Energy Companies

Stocks Close at Session Low...Dow Down Over 375 Points...S&P and Nasdaq In Correction Territory (Click for More)

Stocks to Tumble Another 20%, Cash the Safest Place: Roubini

Stocks Plunge Most in a Year

Hugh, Long Time No See is back with some comments of his own

Forget Europe, Worry About China: Hugh Hendry

Save your savings, what should you do?

Germany's Merkel Says Euro Is in Danger

Buy Gold?

Blackstone Sees Gold Rising to $1,500

Sell it All, Risk of 'Major Crash': Dow Theory’s Russell

Take the Nouriel's medicine ? What does it mean for your assets and savings?
Financial Reforms 'Cosmetic,' Won't Stop Crises: Roubini

Credit Markets says what ?
"Bets made with swaps on the bonds of 10 European nations including Greece, Spain, Italy and Portugal total less than $108 billion, according to the Depository Trust & Clearing Corp., which runs a central registry that captures most trading. That’s 0.97 percent of the $11 trillion in outstanding debt of those countries, International Monetary Fund data show. "

Then, what's the ban about ?

“The market sees an inadequate policy such as this as an act of desperation and a refusal to address the fundamental problems at hand,” said Brian Yelvington, head of fixed-income strategy at Knight Libertas LLC in Greenwich, Connecticut."

Read it all and decide : Swaps Soar on Germany’s ‘Act of Desperation’: Credit Markets

Thai Stock Exchange on Fire; Blackouts Hit Bangkok

They stole everything we had and cherished, up to our language with the hope we'd be silenced for ever. Each time an english thought crosses my mind, it's a battle they loose. I wonder though if they know why their plan failed yet?

Euro Falls To Fresh 4-Year Low

Euro Dive Dents Stocks; Dow Drops 130
Stocks headed south amid heavy pressure from the plunging euro and a selloff in financials.

The Chatter, Rupert in talks to lauch a french speaking Fox News, Fair & Balanced, Laura to be invited.

Deflation Fears Send Investors Searching for Bonds, Dividends

Getting ready for the hit

March 2009 Lows Will Be Tested

No growth and some inflation, how do you call it? Wilbur Ross says it all.

Europe's Debt Crisis Could Bring Stagflation

Stay tuned,

Blanchflower Says Another EU Aid Package ‘Inevitable’ (Update1)

No end yet to be seen to the euro debt crisis as long as the blame game goes on and the scapegoats chase is open...

Barnier Says Credit-Default Swap Traders Set to Face Mandatory Reporting

Can CDS traders be blamed for anything illegal? So far what we have seen are politicians caught with years and years of a guilty "laissez faire" and distribution of social freebies to get votes they never bothered to debate honestly the funding.... going for more debts instead. Finally the bill has come... Who should be blamed? Time will tell.

For now, it doesn't matter how many scapegoats can be found, it won't solve the eurozone woes, will it? Politicians will have to tell their constituants soon or later they have funded most of the social welfare system through debts and more debts each time a slowdown in the economy widened the deficit they created. They knowingly pushed the game until the situation becomes unsustainable, markets have just said it's the case and traders acted accordingly.

Will the EU commissioner come to its senses and instead of threatening "the evil market forces" show some courage telling the truth and set a plan to restore competitiveness and some common sense in the euromember's budgets and big spending?

European Debt Worries Push Futures Lower

Geithner Meeting Barnier Over Basel III Creates Pressure on Banks' Capital

It is still possible that Greece may be forced temporarily out of the EMU if this can buy a more stable future for the core nations.

Regulation war is on? Not yet, the UK to be the target ?

“There is a real risk that it would provoke retaliatory action in non-EU jurisdictions, which would damage the European financial services industry and the whole European economy,”

`Lack of Trust' Pummels Europe Bank Lending as Libor Rises: Credit Markets

3 Gs are back..? Guns Gold and God.

Stocks, Euro Plunge on Concern Austerity Plans to Curb Recovery

EU Faces Trichet’s ‘Quantum Leap’ Call as Euro Falls (Update1)

State aid proliferates in Europe: Hands up for handouts
Taxpayer subsidies to companies have multiplied in the recession

Euro Swaps Corner Trichet in Currency Tumble Showing No Signs of Slowing

Fears Intensify that Euro Crisis Could Snowball
Fear in the financial markets is building again on worries that Europe's biggest banks face strains that will drag on the region's economies, The New York Times reports.

Euro Tumbles to 4-Year Low on Debt, Growth Worries

Bailout Is ‘Nail in the Coffin’ for Euro, Rogers Says and that's not all....

The more than very fresh welcome for the EU Commission proprosal to request a closer watch over its member's national budgets and fiscal discipline has lead to Manuel burst with a "you'll soon have to choose, between a common currency and some tighter economic rules or nothing at all"...

Can the Germans and the couple of smaller healthy ones accept to pay for meals they haven't ordered and have no control of who ordered what? I guess Manuel just mentioned they won't...

What's next ?

Roubini's Warning Reminds Risks Still in Surplus: William Pesek

For many, it will come as a surprise the most powerful french trader isn't J. Kerviel but Gege scaring FX Markets

throughout the world.

You want to trade too, with Gege as a partner, visit DUKASCOPY The Swiss Forex Marketplace !

Must Read : Saving Euro Trashes Trichet, Dooms Germany’s AAA

So what seems to say political leaders of less disciplined countries than Germany, The Netherland and the few strong currency lover...

The euro will remain the currency for a smaller number of countries

that have “stronger fiscal and economic fundamentals,” Roubini said.

Also
Bond Sales Dwindle as Europe Crisis Drives Investors Away: Credit Markets

Great Recovery an 'Illusion': Economist

As long as EU debtors will have a faster growing interest payment on the debt than the GDP growth... an imbalance that will feed not just speculation but reasonable founded doubts of possible defaults and need for restructuring the most endebted countries.

Recommended reading

Fx Market

Investors continued skepticism centers on the fact that the EU must endure an uncertain future of tax hikes, faltering GDP, and cuts in spending to weather the current debt crisis.

A currency not just single but unloved - Status as reserve currency under threat

Economy

Argentina warns Greek bail-out will fail

Europe is unprepared for austerity

Irish treat pain of crisis like a hangover

Short lived, you said? It didn't take long did it? The Speculators Parade is back on, ahead of it the Band singing the famous tune No Credit Cash Only

Show me the money....

Will more debts fix the problems, it won't take long to find out the eurozone is even weaker now that it was a week ago...?

The eurozone healthier countries have decided to take on more debts to be able to pay those of the non so heatlthy ones?

So, before the "nuclear" plan, we had very few healthy countries in the zone with orderly public finances and quite a few in trouble.

The healthy ones have decided to eventually take on more debts degrading their ratios, should the quite a few in trouble default?

After (the plan), the quite a few in trouble may still default, if so, the healthy ones will pay through taking on more debts degrading their situation? As a whole, is the zone better off after the plan as long as there's no fix to heal the cause for the non so healthy ones to be in that situation?

Where's the gain?

A rally in a bear market?

"Knock-on Effect"
Europe’s economy stagnated in the fourth quarter of 2009, with gross domestic product in the 16-nation euro region unchanged from the third quarter, the EU’s statistics office said last month.
“The Germans send a good percentage of their exports to the rest of the euro zone, so we believe there will be a knock- on effect to German GDP growth,” Simner said.

10/05/10 - OECD composite leading indicators (CLIs) for March 2010 point to a slowdown in the pace of economic activity. In most OECD countries signs of slowing growth are tentative, but stronger signals have appeared in France and Italy, and some evidence of a potential halt in expansion is emerging in China and Brazil.

"Nuclear Option" seems to have worked.... But, it remains to be seen if that hit will be a home run in the long term...

European Stocks Rally Most in Year, U.S. Futures Soar on Euro Support Plan

Fed Restarts Currency-Swap Tool With ECB in Effort to Contain Debt Crisis

Default Swaps Tumble After EU Goes `All In' to Save Euro: Credit Markets

BRUSSELS (Reuters) - The European Union agreed on a 500 billion-euro ($670 billion) emergency fund in the early hours of Monday to protect highly indebted eurozone countries from the "wolfpack" of financial markets. Video

Leaving to come on may 12th, EU GDP numbers.

EU Crafts $962 Billion Show of Force to Support Euro, Halt Global Crisis

European Union Strikes $670 Billion Crisis Deal

€ $ Central Banks Swaps are back on a much smaller scale it is said...

Credit Crunch is back, CDS skyrocket,

Bank Funding Crunch Deepens as Default Swaps Reach Records: Credit Markets

EU Seeks 600 Billion Euro Crisis Package: EU Sources ( Germany wants limits, part of the plan remains unclear at this stage)

Today's note

Not a surprise, we again had the Nothern Rock tune played in Paris as many have declared to be unhappy with the British decision.... It shouldn't have come as a surprise, nobody will dump on the British taxpayer the crasy lending and borrowing made with a guilty "laissez faire", not to say irresponsible, throughout the EU. Except Germany, Nerderland and Flanders(why did it came out as Flemish, an e by the way?) public finances are a mess, spending no limit the rule and frankly, the Germans are gonna go crasy if they end up paying more taxes to repay debts made by some that have constantly refuse to take on the efforts the Germans made to stay on the right track.

Credit Markets : Frozen? Why? CNBC has published the banking sector exposure to the PIIGs sovereign debts

1. Portugal
   Banking Sector Asset Exposure: 14.08% - Total PIIGS Exposure: $64.54 billion
2. Ireland
   Banking Sector Asset Exposure: 13.5% - Total PIIGS Exposure: $90.378 billion
3. France
   Banking Sector Asset Exposure: 10.4% - Total PIIGS Exposure: $911.32 billion

For more www.cnbc.com

Speculator's do not target Portugal or anybody else for that matter. Now add Portugal's sovereign debt problem with its banking sector exposure to other PIIGs sovereign debts and you get the recipe for some legitimate doubts? Who was at the switch for years?

The Chatter...

“Just as counterparties were wary of dealing with other banks while losses from US subprime bonds were unknown in 2007 and 2008, the same is again affecting interbank lending markets now as investors fear their counterparties may be heavily exposed to to Greek or Portuguese government bonds,”

More here : ? (could?)

First, the European Central Bank could restart its auctions of unlimited one-year euro liquidity. Second, the ECB and the Federal Reserve could reopen their dollar swap lines so European banks could access dollars through the ECB again. Third, the ECB could buy eurozone government debt, effectively undertaking quantitative easing.

Will?

Let's be honest...

If you issue bonds and need credit markets, can you find investors that CAN AFFORD to go long with no covering?

Answer :
Can you have a market of "covering investors going long" without counterparts?
Answer :

Can you guess the bad name counterparts may get if by playing the game investors going long needed in the first place to accept to take on that risk they score big pushing a bit the game?

Answer;

Recommended reading

http://www.cnbc.com/id/37025018
Fighting the "Wolfppack" :(?)
EU Seeks Mechanism to Contain Greek Debt Crisis
EU Races to Ready Emergency Fund, Fight Off `Wolfpack' Before Asia Opens
Egypt Stocks Fall Most in Five Months, Lead Arab Markets on Debt Concerns
?? need access? NEW: Fadel Gheit, Oil Analyst Fair Value Barrel of OIL $30.00, it follows his previous review when he priced it $ 60 http://www.cnbc.com/id/36918577 anyone to confirm?

47 of the biggest EU commercial banks have asked friday for some quantitative easing, so far...

Referring to Germany official Angela Merkel words of what is a strong currency to a thriving economy, the answer is no....??

So far, the News

The Chatter, CNBC, reports, says HF doubling down and shorting big.

Well, I woundn't trust any number of scientist or not asking someone to be silenced, I'd immediately conclude their position must very weak to feel that kinf of need...... If a few hundreds can't stand the critics of one, facts tell me, short them... and big, they'll go down.

Israeli Stocks Fall, Bonds Gain on Europe Debt Crisis Concerns

Deficits an old story that has very little to do with the 2008 turnmoil....

“We had the subprime debacle in the U.S. Does Europe relive that in terms of the massive leveraging they’ve done to keep the social model running? Because then it’s a worry of not 110 billion euros for Greece, but it’s potentially a project that could go up over 1 trillion euros or more.”

Let's be honest about facts.

Today

New >>(correct)>Credit Buckles in `Whiff of 2008' as ECB Lets Athens Burn: Credit Markets

Euro Will Collapse Like Tower of Babel: Economist

1mn to smile ;-)

Crackdown on "speculators".... If only they have had the same strong rethoric and readiness to fight their deficits... I guess they wouldn't be dealing with speculators, would they....???

I bet Goldman is involved...!
France to Use Intelligence Agency in Rumour Crackdown

Back to Business
CDSs Point to 55% Chance of Greek Default

What you can't afford to miss

Stock Selloff May Have Been Triggered by a Trader Error

US Banks Heavily Exposed to Europe Debt Woes: Bove

Must read >> Greek Debt Crisis May Be 'Going Global': El-Erian

Conservatives Fall Short of Majority in UK Elections, Exit Polls Show (Click for Story)

Crisis Could Hurt US: Fed
Also
Trichet Resists Calls to Consider Purchasing Bonds, Urges Cuts in Deficits
Though many call for
EU Debt Crisis: TARP for Europe Needed to Stop the Debt Crisis - CNBC
(Good night to you too)
Citigroup Finds `No Evidence' Bank Was Involved in Erroneous Stock Trades

Libor-OIS Spread Widening Suggests Money-Market Collateral Concern Rising

LONDON (MarketWatch) -- Spain's successful auction of a 5-year bond helped nudge the euro off 14-month lows. Spain sold 2.23 billion euros of five-year notes with a bid-to-cover ratio of 2.35. The maximum yield was 3.58%.
But
Spain Pays Highest Yield Since 2008 in Five-Year Bond Auction
And
But the spread of investor jitters in the past 24 hours, affecting markets as distant as yen swaps in Tokyo, suggests market conditions could deteriorate as rapidly as they did during the global financial crisis of 2007-2009.
Stay tuned.
European and UK Government Debt Auction Calendar

Today's note

Big Gov, Big spending, Big debt, three died to start with.

Strange to see how a nation is sometime just a word. I had think Greece going through the worse crisis since world war 2 would rally and do whatever it takes to make sure the situation woudn't get out of hand even if requesting that the effort be fairly shared among the population and those responsible for the mess be sent home but didn't expect them to fight one another up to killing some. I like to think it wouldn't happen home. "We rise or fall together as one nation" I guess it's an American thing. Today reading many articles I found this comment, "Greeks have ordered some kind of social freebies, hope they enjoyed it, the bill is now on the table", thought harsh cause most probaly didn't know. Most EU govs don't give their citizens the education and the sense through that education of being responsible making personal choice. As a system they quite enjoy to be honest on both sides to entertain a kind of illusion there is a state (abstract thing) that the gov is in charge of, on the other side, the people asking for freebies with the gov playin the referree... how it is financed is less important or not important at all, at least was until the bill kicks in.

Now why Greek officials are unable to rally the nation after may be some very difficult and controversial explaining, which is understandable due to the circumstances, remains to me a mystery. Have they done townhall meetings to explain and offer a path out?

Severe financial storm for Europe

Europe's Undervalued, but I'm Not Buying: Barton Biggs

EU, Currency Are Headed for Collapse: Gartman

Get Out of Stocks and Into Bonds: Portfolio Manager

A must read >>>>Busch: Expect the Worst

Portugal May Be Cut by Moody’s as Contagion Spreads

Stocks, Euro Slide on Debt Concern; MSCI World Falls (Correct)

That's all folks for now - The show must go on - I'll be back with more.

Hum....Kerviel says he was urged to flee

...?

Faisal Shahzad: Time Square Bomber, Islamic Terrorist (Shahzad Faisal)

The prayers for the "Time Square Bomber" to be "a white christian right wing terrorist tea party inspired" haven't been heard.... it seems..... ....? ....? ...???? ...????????

The guy is now an American of "Pakistani descent", no kidding?????? and you'll notice that is banned the mention of the "holy war" motives of the suspect..????

I just wonder why there are so many people eager to strenghen the idea there is a "gov mainstream media plot" against the People...? Who do they think benefit from "let's not mention this, let's not say that? Why letting anyone think the Public is a stupid bench of excited folks unable to control themselves ready to kill people? This is ridiculous.

So, am I expected to still trust the very competent people in charge but saw nothing

for the past 12 years....?
I mean really? Greece has had on average an inflation of 3.4% for the past 12 years when Germany had an inflation of 1.3% over the same period?
Has the Greek debt finance anything more than inflation?
Enjoy, http://prudentinvestor.blogspot.com/2009/06/one-eurozone-but-many-sets-of-growth.html
Is it not a legit thing to ask, what was exactly doin the out of proportion (not just banks) paid bureaucracy in Brussels when reading the numbers? Sleepin at the switch or somethin? Oh yeah I got it, Goldman the pill dealer gave some for free and everybody went to the party...?
If the Greek people decides from now on to have their say heard about what does the Gov with the money and refuse any more big spending, join the crowd and go (Sorry Mr President but can't help it, nothing mean) for some Greek tea parties, you guys never had one in the passed?

If your gov has plans to contract debts whatever the good reasons it has, keep in mind you're the debtor and you will pay soon or later. Govs don't make any money, they're a cost you carry. If you don't make sure every promise they make is financed, be sure they please you with borrowed money you'll repay, you just don't know it yet....

The truth : Right now, nobody can afford a Greek bailout... the last country and I shall say the only one in the eurozone to be in line with its signature of international treaties is Germany before anymore debts....

Marc Faber, "Gov will bankrupt us".... any doubts... ask the Greeks.

And,... the beat goes on! Let's be straight, Three Banks Most at Risk from Greecer everyone to get the story right

1. Three Banks Most at Risk from Greece


2. Beware the 3 Recovery 'Derailers'


3. Roubini Says Rising Sovereign Debt Leads to Defaults


4. I sign off with John Pierpoint Morgan's historical quote when asked by congress in 1907 what money actually is.
   "Gold is money. Everything else is credit."

Gold is the money of kings.

Silver is the money of merchants.

Barter is the money of peasants.

Debt is the money of slaves.