1. After another short covering day up to the 1160 resistance level we should see at least an inside down day but still close back around the 1160 again before next week we take a dive as we have some very strong negative astro patterns 11-13th with the Full Moon opposite Saturn exactly on the US Chiron – that seems to be another climax of selling to be due coming again from financials. so far no remedy was introduced to any of the problems just more money printing from the ECB as it gave another 1 year financing to prepare for the inevitable Greece default it seems as Merkel and others are preparing markets for that event. The only question is the timing as Trichet leaves his post bu the end of the month he might want not to have it on his watch ( stupid notion) and more important is that markets are prepared for it so their is no shock or panic but therefor the EFSF needs to be ratified by all 17 members.
There is not a lot of time left as the next heavy astro pattern start mid November and they are the toughest ones to come this year which will bring a crash like scenario far into Q1 next year. So far we are going very close to the 2008 timeline and are now about April 2008. Only this time its worse as the central banks have no bullets left and DEXIA will not be the only EU bank which bites the dust despite the so called moronic stress test gave Dexia greenlight. The article below claims 2-3 weeks I rather think in 4-5 weeks for many reasons. another problem is that the white-knight China is none at all as the stockmarket shows despite all the bullshit propaganda Goldma’s O’Neill loves to spread around. That is another accident waiting to happen but for now we have enough at hand to drop markets another 20% at least over the next 3-5 months.
BBC Does It Again: “In The Absence Of A Credible Plan We Will Have A Global Financial Meltdown In Two To Three Weeks” – IMF Advisor
Submitted by Tyler Durden on 10/06/2011 – 16:40Bad Bank CDS China Counterparties Credit Default Swaps default France GermanyInternational Monetary Fund Ireland Japan Meltdown Morgan Stanley NewspaperReuters Sovereign Debt United Kingdom
A week after the BBC exploded Alessio Rastani to the stage, it has just done it all over again. In an interview with IMF advisor Robert Shapiro, the bailout expert has pretty much said what, once again, is on everyone’s mind: “If they can not address [the financial crisis] in a credible way I believe within perhaps 2 to 3 weeks we will have a meltdown in sovereign debt which will produce a meltdown across the European banking system. We are not just talking about a relatively small Belgian bank, we are talking about the largest banks in the world, the largest banks in Germany, the largest banks in France, that will spread to the United Kingdom, it will spread everywhere because the global financial system is so interconnected. All those banks are counterparties to every significant bank in the United States, and in Britain, and in Japan, and around the world. This would be a crisis that would be in my view more serrious than the crisis in 2008…. What we don’t know the state of credit default swaps held by banks against sovereign debt and against European banks, nor do we know the state of CDS held by British banks, nor are we certain of how certain the exposure of British banks is to the Ireland sovereign debt problems.”