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MarketTicker Forums Read Message in NotSoBreaking
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User Info 100B for Spain in forum [NotSoBreaking]
Tuneman
Posts: 1631
Incept: 2008-02-25
Silver
St. Louis
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@djfxtrader: #Euro Fin Mins to Discuss Giving Spain Up to EUR100 Bn in Aid, Euro Zone Official Tells Dow Jones-WSJ

@djfxtrader: #Spain Aid Likely to Come From ESM, EFSF in Form of Cash, Bonds, Second Euro-Zone Official Tells Dow Jones-WSJ

@djfxtrader: Draft: EUR100b "top figure" for #Spain aid. EZ ofcl tells us: "That figure is mostly for the markets." Payout "doesn't have to be that much"
Loudoungroup
Posts: 3739
Incept: 2008-02-01
Green
San Antonio, TX
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Woohoo!!!! Who is next?

Spain, like Greece, needs 10x+ the initial bailout figure....they will milk this back and forth between country until the music stops....




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http://caps.fool.com/player/loudoungroup.... - Amazing once in the top 30, now shooting for -7000 via the Ben Bernank POMO operation.
Widgeon
Posts: 13481
Incept: 2007-08-30
Green
Region formerly known as the United States
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I'll take $10 million.

Jubber
Posts: 14567
Incept: 2007-07-05
Gold
UK
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How can it come from the ESM when it hasn't been ratified yet?, last I heard was only six had signed up

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“The problem with socialism is that, sooner or later, you run out of other people’s money.” Thatcher
Grody
Posts: 3731
Incept: 2008-02-19
Green
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Quote:
Spain to Seek Bailout Up to $125 Billion in Days: Report
Translation: We're broke.

Please loan us $125 Billion.

This is supposed to make the markets sky rocket. smiley

http://www.cnbc.com/id/47747620

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Pain is weakness leaving the body. Bulls need more pain NOW.

Themortgagedude
Posts: 8891
Incept: 2007-12-17
Green
saint louis
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I'm assuming this isn't a done deal. That this is being floated to stop bank runs from going critical. Methinks that lots of details need to be worked out. Good luck with this one.

One question though. Why didn't they just have Charlie Gasbag leak the info?

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I'm already visualizing you with duct tape over your mouth.
Avianphlu
Posts: 4109
Incept: 2008-12-03
Gold A True American Patriot!
Ulster NY
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double or triple the amount

watch the dollar tomorrow and pm's

that will tell you whats up
Early_retirement
Posts: 3641
Incept: 2007-06-26
Gold
Burlington, Vermont
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Great, another Sunday/Monday ramp on the same old bull****.

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"You cannot legislate the poor into prosperity by legislating the wealthy out of prosperity. What one person receives without working for, another person must work for without receiving. The government cannot give to anybody anything that the government does not first take from somebody else."
Rvacha
Posts: 8314
Incept: 2008-10-03
Gold
Cleveland
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Apparently the money comes from EFSF and/or ESM. ESM has no money and Germany has yet to ratify (good luck with that now) so for now (and perhaps forever) it will come from the EFSF. EFSF theoretically has 200B Euros, but that included a supposed 93B contribution from Spain which obviously isn't going to happen now. So the EFSF really has 107B, 100B of which will go to Spain. That 107B isn't real yet as I understand it; the EFSF needs to sell bonds and previous attempts have been a trainwreck

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"I suggest you panic." - Hugh Hendry

Rvacha
Posts: 8314
Incept: 2008-10-03
Gold
Cleveland
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Summarizing EU funny math a supposed 200B fund commits 100B to Spain leaving it with 7B dry powder. Of course that assumes Italy pays its share, which it cannot. So by my funny math EFSF is very much in the hole now /sarc

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"I suggest you panic." - Hugh Hendry
Grody
Posts: 3731
Incept: 2008-02-19
Green
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Quote:
Summarizing EU funny math a supposed 200B fund commits 100B to Spain leaving it with 7B dry powder.
Maybe not even that much!

That leaves only the US (Uncle Sucker) to the rescue!
Quote:
We already knew the ESFS and ESM would lend Spain money, the question is in what manner? This uses up about all the capacity Europe has on it’s own.
http://www.wallstreetexaminer.com/blogs/....

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Pain is weakness leaving the body. Bulls need more pain NOW.
Chris92346
Posts: 1316
Incept: 2009-03-25


Banned
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Anybody else sorta surprised that this was announced early on a Saturday and not late Sunday/early Monday?
Jackl
Posts: 2250
Incept: 2008-01-17

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Timeline:

Now 100B.

2 months from now: Damage worse than expected. May need 150 more.

3 Months from now: Protest and riots as unemployment soars over 30% and the government proposes more cuts to spending.

4 months from now: Spain almost out of cash. Needs 250 billion dollar bailout immediately.

5 months from now: Damage worse than expected. Maybe need 300 billion more.


Wash rinse repeat until negotiations with bond holder for debt reduction, and possible overthrow of the government and threats of leaving the Euro.

Wash rinse repeat for Italy.
And Ireland.
An U.S.(So to speak)
Ghopper
Posts: 2317
Incept: 2011-06-11

Staten Island, NY
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So will this stop the runs on Spanish banks?
Stoney007
Posts: 510
Incept: 2010-09-18
Green
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Has there been any official news or link that states a deal is DONE?

I haven't seen crap other than their working on it, nothing more though.

?????????????? LINK OR something?
Bicycle
Posts: 2395
Incept: 2008-09-05
Green
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great so we can move on to Japan now

smiley
Rd
Posts: 487
Incept: 2008-02-27
Gold
Long Island, NY
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Why do you guys want details or official news, you are just killjoys.

Just enjoy the ramp.

Swingtrader
Posts: 9108
Incept: 2007-08-12
Green
United Oligarchic Goldman Sachs States of America
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Jack has this right.

100 billion right now.

Give it a while, it will get a lot higher.

Wash, rinse, repeat - take it on the road, wash, rinse, repeat.

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Swing said "Well, it is collapsing as we watch.This is what it looks like." Australian federal judge Jayne Jagot, doing what US judges need to do!
Gajoe6pack
Posts: 55
Incept: 2008-10-03

georgia
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Uhhhh......uh oh.

http://www.zerohedge.com/news/here-they-....


Here They Come: Ireland Demands Renegotiation Of Its Bailout Terms To Match Spain



How long before the tickercon goes back to "1" and how long will it take to go "ka-boom"?
Bailout-funder
Posts: 1059
Incept: 2008-10-17

SF Bay Area, CA
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Oops!

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"As we have now seen, one little lie, repeated often enough, becomes one gigantic mess."
"Someone clearly got the best government money can buy, but it certainly wasn’t us."
--Karl Denninger

Rvacha
Posts: 8314
Incept: 2008-10-03
Gold
Cleveland
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Has Germany actually blessed this aid without strings attached plan? I don't think so, but I am not sure

I think the market reaction will be interesting. Spanish bank stock & bond holders will get raped for sure, Italian rates will probably jump (since they are now in the hook for a greater contribution to the EFSF). If banks drop to zero and Italian bonds rocket tomorrow could it freak out the market and ruin the rally party?

What the EU has agreed to amounts to a liquidity package as far as I know - it does not address the needs for additional bank capital - that remains Spain's job. How are they going to do that? For Spanish depositors this is a good move as it improves the odds of running the banks and coming out holding a fistful of Euros (he who panics first panics best, but he who waits until Germany sends money to the bank panics real good too!)

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"I suggest you panic." - Hugh Hendry
Grody
Posts: 3731
Incept: 2008-02-19
Green
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Sounds like some "strings" to me, Rvacha.
Quote:
The extent to which the latest Spanish bank bailout is coming without strings -- a key claim made by the Spanish government -- is in question.

ZeroHedge points to this article in El Pais, which includes this line.

In return for subsidized rates, Spain cede sovereignty over its financial system, but also lose tax sovereignty, contrary to what the Government said yesterday.
http://www.businessinsider.com/report-a-....

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Pain is weakness leaving the body. Bulls need more pain NOW.

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