Article

2010-05-21 Europe

Germany's 'desperate' short ban triggers capital flight to Switzerland

Archived material is restricted to Rantburg regulars and members. If you need access email fred.pruitt=at=gmail.com with your nick to be added to the members list. There is no charge to join Rantburg as a member.

Posted by lotp 2010-05-21 00:00|| || Front Page|| [1 views ] Top

#1 Let's get a chant started:

Deutsche Mark! Deutsche Mark! Deutsche Mark!

Posted by Barbara Skolaut 2010-05-21 00:18|| 2010-05-21 00:18|| Front Page Top

#2 He said the CDS ban deprives reserve managers of a crucial hedging tool for non-securitised loans

Yeah. Naked short-selling.

It's nice how this whole thing is Germany's fault now. Nobody breathes a word about how an EU socialist government spent like a drunken sailor and now expects others to pay.

Posted by gromky 2010-05-21 01:00|| 2010-05-21 01:00|| Front Page Top

#3 9.5bn flowed into Swiss franc deposits in a matter of hours on Wednesday morning

I've been considering Switzerland, too. I don't think we're particularly safe here, either.... Wouldn't be all bad to live in a prosperous, northern, no-BS, hard-currency nation surrounded by a barrier of towering mountains.

Never thought I'd say it but living in the US these past few years has made me into a pessimist. It feels wrong. Un-American. But if America's abandoned me, maybe it's time to abandon America.

Posted by lex 2010-05-21 01:41|| 2010-05-21 01:41|| Front Page Top

#4 Never thought I'd say it but living in the US these past few years has made me into a pessimist. Lex

Watching the goings on in Washington will make anyone a pessimist.

Posted by Besoeker 2010-05-21 06:31|| 2010-05-21 06:31|| Front Page Top

#5 I've been considering Switzerland, too. I don't think we're particularly safe here,
Lex, maybe you should consider Russia instead.

Posted by tipper 2010-05-21 14:19|| 2010-05-21 14:19|| Front Page Top

#6 Know it well. If I didn't have a family I'd be there, but the air is so terrible that it's not a good place for small children to grow up. All the Russians with significant cash send their kids abroad to school.

It's kind of like a slow-motion nightmare in which up is down, black is white etc: the US has a shrinking middle class and declining financial security; Russia's middle class is growing and security's increasing. The US has deep and seemingly irreversible structural fiscal deficits, which are growing; Russia's fiscal health now is good and getting better, with rising surpluses. US demographics are steadily tilting toward Mexico's, with a massive and growing illiterate underclass of imported campesinos; Russia's demographic catastrophe has been halted and now shows signs of reversing, with a population that has a literacy rate far above America's and a tough no -BS attitude toward immigration of unskilled, uneducated workers from third world nations.

But Russia is completely dominated by oligarchic criminals and has a criminalized state with no rule of law. Our government is merely clueless, incompetent, and only mildly corrupt. Hooray!

Posted by lex 2010-05-21 14:30|| 2010-05-21 14:30|| Front Page Top

#7 Well Switzerland it is then, but watch out for the plum trees.

Posted by tipper 2010-05-21 17:01|| 2010-05-21 17:01|| Front Page Top

#8 Let's form a circle and whine, buy gold it's divine.
Rube a little behind your ear and soon you'll find a gal!
History teaches us that gold is all you need for a fine fertile life. Listen and read your history. GOLD! GOLD! GOLD!

Documentary feds don't want you to see:

Posted by Shipman 2010-05-21 17:40|| 2010-05-21 17:40|| Front Page Top

#9 "But the regulator's shock move on Tuesday night to stop short trading on banks, insurers, eurozone bonds -- as well as a ban credit default swaps (CDS) on sovereign debt"

Both is untrue or at least uncorrect. Only naked shorting was banned, and only CDS on sovereign debt by people who don't hold any debt titles.

Posted by European Conservative 2010-05-21 18:59|| 2010-05-21 18:59|| Front Page Top

00:13 OldSpook
23:57 OldSpook
23:32 JosephMendiola
23:24 JosephMendiola
23:21 JosephMendiola
23:19 gorb
23:17 JosephMendiola
23:16 gorb
23:14 lex
23:11 gorb
23:06 gorb
23:05 lex
22:55 JosephMendiola
22:49 JosephMendiola
22:45 JosephMendiola
22:43 gorb
22:34 gorb
22:34 Perfesser
22:33 gorb
22:25 Asymmetrical
22:21 Frank G
22:15 Lumpy Elmoluck5091
22:04 JosephMendiola
22:00 Asymmetrical