echec de l'allemagne à lever des fonds sur enchéres obligations

35 % leur restent sur les bras

si l'allemagne n'arrive pas à lever les fonds dont elle a besoin ... imaginez pour les autres pays européens ...

bref, l'alternative planche à billlets devient de plus en plus inévitable

commentaires détaillés chez www.lemetropolecafe.com



German Auction ‘Disaster’ Stirs Crisis Concern

By Paul Dobson - Nov 23, 2011 7:00 AM ET

Germany failed to get bids for 35 percent of the 10-year bonds offered for sale today, sending its borrowing costs higher and the euro lower on concern that Europe’s debt crisis is driving investors away from the region.

"This auction is nothing short of a disaster for Germany," Mark Grant, a managing director at Southwest Securities Inc. in Fort Lauderdale, Florida, said by e-mail. "If the strongest nation in Europe has this kind of difficulty raising capital one shudders concerning the upcoming auctions in other European nations."

The debt crisis that began more than two years ago in Greece and snared Ireland, Portugal, Italy and Spain has closed in on France and now risks engulfing Germany, the region’s biggest economy. Political leaders are struggling to find a fix for the crisis, with German Chancellor Angela Merkelrejecting proposals for the common currency-area bonds, while the European Central Bank resists calls to boost sovereign debt purchases…

http://www.bloomberg.com/news/2011-11-23/germany-fails-to-receive-bids-for-
35-of-10-year-bunds-offered-at-auction.html-END-

Bill H:

To all; I had not planned any commentary today but events in Europe have changed that. Germany has had a failed auction while trying to sell 6 Billion Euros. They only received bids of 3.7 Billion meaning only 65% of the auction was subscribed for. This has huge ramifications, none of which are good. If Germany, the "stable core" of Europe is being shut out of the credit markets...what does that mean for the rest of Europe. In reality, Germany is nowhere near the insolvent deadbeat that the U.S. has become, what (when) does this mean to the U.S.?

I have basically skipped over all of the ramifications to Europe because basic common sense tells you that everything will freeze up creditwise if their "best" borrower cannot access the credit market. Next up will be the U.K., then Japan and finally the fabricator of this big rotten enchilada...The U.S.. Yes, yes I know, it can't happen here because the Fed will step in, they will print and they will buy. In fact, they are already doing this. Not because they "want to" but because they have already been FORCED TO! The real bids don't and have not covered the auctions for quite sometime. The only difference now is that the Germans are not as big of liars as our administration and system of finance, they are actually admitting failure. They are not borrowing what will not be lent...for now.

I believe it is only a matter of time (probably over this weekend) that the decision to outright monetize is decided upon. I don't think they have any choice now, the market has spoken loud and clear. As I have said for quite sometime, WATCH the credit markets as they will tell you the real story because they are TOO big to manipulate forever AND they are the life's blood to the entire Ponzi scheme.



Regards, Bill H.



The bottom line is the financial markets in Europe and the US are entering the END GAME phase. There are no solutions to the growing fiscal problems in each sphere … except for the citizens of Europe and the US to accept a 35% drop in their standard of living and deal with coming massive inflation. Both spheres are broke due to living beyond our means. Governments and politicians have allowed this to occur and now the Piper must be paid.

You have heard this from me and contributors to this column for years and now it is upon us.

Spiegel lance une bombe sur les finances allemandes qui ne seraient pas aussi brillantes et "modèle" que l'on veut nous faire croire !



la dette allemande représenterait plus de 80% du PIB

Citation :

But it is debatable how much longer Germany can be seen as a refuge of stability and security. In reality, German government finances are not nearly in as good shape as the chancellor and the finance minister would have us believe. The way that certain important indices are developing suggests that Germany may not retain its position as a role model in the long term. Government debt as a percentage of GDP is already at more than 80 percent, which compared to other European Union countries is by no means exemplary, but in fact average at best.





<p>When it comes to their debt-to-GDP ratios, even ailing countries like Spain are in better shape, with values significantly lower than 80 percent. Critics, irritated by Merkel's and Schäuble's overly confident rhetoric, are beginning to find fault with Europe's self-proclaimed model country. "I think that the level of German debt is troubling," says Luxembourg Prime Minister Jean-Claude Juncker, whose country has a debt-to-GDP ratio of just 20 percent.

http://www.spiegel.de/international/europe/0,1518,799059,00.html

je serais un Allemand qui ne veut pas payer pour les autres que j'organiserai ce genre de fuite me présentant comme proche de la ruine et incapable de lever des fonds. Dans ma situation, comment voudriez-vous que je puisse vous aider ?

voici qui confirme ta réaction Dup !





www.lemetropolecafe.com



From a European source who is a long time Café vet and very connected…

"There is a "well-sourced" rumour that the failed German government bond issue was a set-up organised by the Bundesbank and the German government as an attempt to shut up the requests from France and the EU Commission for the eurozone to issue bonds backed by the ECB and hence by eurozone governments. This story makes sense if you analyse the political position of the German government on bail-outs, but I have no idea if it is accurate. The FT Alphaville column did publish an article on Wednesday that did hint at efforts to manipulate the German bond market, but not in the way suggested by this rumour. All I can say is that it takes balls of steel to play games with government bond markets at such a crazy time when confidence is so low. Gold has to be a beneficiary of this whatever really happened.

bon, ce coup ci, ils vendent leur bons du trésor avec un rendement négatif !



www.lemetropolecafe.com





The macro economic background for gold to move higher continues to strengthen…

"Germany sold six-month treasury bills at a negative yield for the first time amid demand for the debt securities of Europe’s largest economy as a haven from the sovereign debt crisis in neighboring nations."

So both gold lease yields and Germany’s Treasury yields go negative at the same time.