NO SURVIVORS
http://www.zerohedge.com/news/2016-07-05/italy-bans-short-selling-imploding-monte-paschi
>>79857121
OH FUG
HABBENING????
>>79857121
Italian here.
These guys are blaming this situation on the EU, but literally every italian knows that that bank was fucking robbed by the lead political party here in Italy.
They then proceeded to bail it out and bankrupt it again, leaving all the bank clients without a fucking dime.
It's that disgusting.
>>79857218
Basically the Bear Stearns moment of 2016 is upon us.
Rejoice!
>inb4 it isnt happening
>>79857349
Why didn't the EU stop it from happening?!?!?!
Remember they are the force for everything good and benevolent in Europe.
>>79857349
Didn't you try to impeach a cute blondie for some banking stuff a few months ago? Is that what yu are talking about?
>Be Italy
>Invent modern banking
>Be shitty at banking
>>79857349
Hold on to your ass spaghettibro.
It gets worse though guys....
Italy is the primary benefactor to Spain's bail-out program - when Italy goes down, everything south of Brussels is going down. Don't forget the primary creditor to Italy is France, and to France, Germany.
The big dominos are falling now.
>>79857349
shit, tough times Andreo Cosimo Tinteretto de Medici. enjoy your own version of the '08 run off.
Won't happen, they will just suck away more liquidity from the tax payers. Rinse, repeat.
Who's laughing now?
>>79858544
Nope, they got denied. They will be required to receive a bail-in from depositors, read pensioners. Read the fucking article.
>>79858544
don't think italians will deny doing this, a la Greece?
even if they're "made" to do it, balking is scary for ECB.
also this
>>79858430
This seems too inconsequential to be the cause of a real happening.
Can any bankerbros explain how this will ripple into a collapse?
Friendly acknowledgement that this will be bigger than Lehman collapsing.
>(((zero hedge)))
>not fear porn
>>79858203
I thought the Medici's invented it?
>>79858733
Negro do you even 2008?
>>79857121
What's their derivatives exposure? Can this lead to a chain reaction with DB also collapsing?
>>79858802
Aren't they italians as well?
>>79858788
Being this much of a shill
>>79858889
Well fuck, they are. I thought they were French for some reason.
>>79858802
They're from Florence
>>79858868
I don't really remember 2008 very well, did people see the collapse coming or was it a sort of "Black Tuesday" event when everyone realized it was happening all at once?
Deutsche Bank
>>79858544
This. Finance is a meme. Nothing will happen because it's all based on confidence. Unconfident behavior is not permitted
>>79858958
It is alright m8
>>79858894
How? No good saying "shill" when it's all does...
I've seen it for 4-5 years now and you niggers still take the bait.
Salty faggot.
>>79859050
From 2007 on everybody (at least the banks) knew that it was going to happen in the near future, they just tried to postpone it for as long as they could.
>>79859050
Nothing crashes like that if people see it coming. Modern economic crashes and created by rapidly infectious skepticism
>>79858870
can and will toothpaste
Allow me to explain how this is going to work...
Monte Paschi (MP) is currently being denied bailout money from the ECB until they offload their NPLs (non-performing loans - 90 days+ delinquent) of which there are approximately half-a-trillion in the Italian banking system ( a convservative estimate since many can be unreported) . What the ECB really wants to do is see what the mark-to-market value of MP's loans are to get a REAL idea of how much shit they are in. Now take that really big stinking pile of shit loans and multiply it times the Italian banking system, then the ECB has an estimate of the horror show about to unfold.
But wait, it gets worse. Once the books open up and NPL's start hitting the market at firesale prices, suddenly all the values of the NPLs held across the banking system get discovered by the market and the stock prices reflect the insolvency of the entire system. Cue Lehman moment. When this happens, the ENTIRE european banking system is FUCKED as price discovery carries over into the stocks and assets of banks with exposure to Italian debt. Cue broad market meltdown (think September 2008 - March 2009). Friendly reminder Bear Stearns happen around this time in the year 2008.
>>79859401
So, the same thing that's happening now?
>>79857885
>Why didn't the EU stop it from happening?!?!?!
the same reason you guys voted Brexit; it's a totally corrupt, totally incompetent bureaucracy
>>79858802
They were Crypto Jews.
>>79858870
>What's their derivatives exposure?
Probably not much. Italian banks are far more "traditional" compared to modern investment banks; they make most of their money from old-school shit like commercial and retail loans, pensions etc. The problem with this is if they do go down, it's going to completely fuck over thousands of Italian pensioners as it will be them who are financially wiped out. Ol' Guiseppe's going to be pimping his 70yo Italian wife to be able to afford tomatoes.
>>79857121
My anus is ready for more fake money
>mfw the rupee will soon be 20 to a gbp
feels good
>>79857349
>leaving all the bank clients without a fucking dime.
do you know anyone that banked with them?
>>79859630
my friend, you talk like the people from the Hillary threads and look where this has brought us.
.
>>79859630
Interesting, I've read some books on the 2008 crisis. Are there any resources you recommend to keep up with what's currently happening? Books to read on the ECB/Greek debt crisis?
>>79857349
There are so many similarities between Italy and the Balkans I'm surprised you're still one country, let alone a first world one.
>>79857121
NOW THE ENTIRE WORLD CAN BE JUST LIKE BRAZIL, WE CAN ALL FAIL AND LIVE IN POVERTY TOGETHER.
>>79861114
I don't know, I like to watch interviews of extremely self-made investors like Marc Faber, Jim Rogers, Bill Gross, and even Soros when he's being realistic. I would not trust a book.
Anyone who gets published has an angle.
>>79861586
dream come true :3
>>79860804
yeah, except I never believed Hillary would get busted. I don't get hype very often, even being a finance guy, but right now I am hype.
watch based Bill Gross for truth:
https://www.youtube.com/watch?v=AlfJuTAWZP0
>>79861586
At least we will be equal, right?
US 10-year yield down to 1.36% today... 6% move on this news... holy shit...
>>79858203
>The lead party used this bank as an ATM for 40 years
Most of our politicians should be fucking jailed for life.
FYI for anyone investing... don't trust the guys you think are smart... trust the guys you think are honest...
Art Cashin
Bill Gross
Marc Faber
Jim Rogers
Kyle Bass
are good people to start listening to.
>>79862547
Kek underrated. Fuck the whole equality meme. The only way humans are equal should be under the law and in the eyes of God.
>>79862983
>no Peter Schiff
Kyle Bass is voting for Hillary, definitely not someone to listen to. Jim Rogers is okay but he keeps preaching that agriculture is going to go up but that's highly doubtful. Idk enough about the other guys.
>>79862983
Thank you for that list, I'll pay attention to them.
>>79857885
>EU
EU are literal low IQ children. They don't care about details like functioning economy. They just want to feel good about political social challenges.
They are complete idiots just playing a political game to try and create some "utopia" United states of Europe. Complete boneheads with no practical intelligence or ability.
The EU is kind of like a retarded fuck making pizza with not enough dough. As he tries to spread the dough out into the shape of a pizza, it all falls apart because he's a fucking retard with not enough dough.
That is how the EU is going. a bunch of fuckheads trying to make united states of Europe but too stupid to realize there is no support and everything is failing. Instead of stopping to fix the problems, they are going ahead with stretching the dough out until it fails completely.
>>79858894
It's the same shitstain website that always fear mongers about currency devaluing. My one retard friend always posts articles about how silver will become the "world currency" oh so soon from this shit site.
>>79863471
maybe he is, but the guy is honest.
peter schiff is just annoying. he parrots jim rogers anyway.
>>79865077
You have to modulate anything Schiff says, he still has some good points.
>>79864845
Assess the news, not the site.
