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Global banks see market rally on Greek exit ... Major global banks are advising clients to prepare for a stock market rally and a resurgence of the euro if Greece is forced out of monetary union, betting that world authorities will flood the international system with liquidity.
Bank of America said
EU authorities will pull out the stops to keep Greece in the system as they weigh the full dangers of contagion. Should that fail, it expects a series of dramatic moves ... Mr Bloom said the
ECB is playing a game of chicken by waiting until it has secured maximum compliance from EMU's wayward states before coming to the rescue.
"Once again it is holding everybody over the edge of the abyss until they scream for mercy," he said. -
Ambrose Evans-Pritchard/
UK TelegraphDominant Social Theme: Oh, no. Greece is leaving!
Free-Market Analysis: Ambrose Evans-Pritchard, with some of the best sources in the world, has buried his lead once again.
Just look at the excerpt from his latest article, above. The headline is that there will be a global rally. We figure this is a pretty good speculation.
He was told there would be, no doubt by fairly prominent people who want the word to get out.
But then he can't help report the rest, that the ECB is
"playing a game of chicken by by waiting until it has secured maximum compliance from EMU's wayward states before coming to the rescue."Say ... what? You mean all this breast-beating over Greece's expulsion from the EU was a kind of theatre?
Comment: It's always nice to see the mainstream media continuing to promote blatant lies about Iran's 'nukes' and ignore the copious evidence that the West is convinced that Iran is not building nuclear bombs.
It's also nice to see the mainstream media ignore the obvious logic that a nuclear-armed Iran would be a threat to no one, least of all Israel, given that Israel possesses upwards of 400 nuclear weapons and could easily destroy Iran.
Perhaps the problem is that the mainstream media has somehow forgotten that 45 years of 'cold war' between the US and the Soviet Union proved conclusively that MAD - Mutually Assured Destruction - is a sure safeguard against nuclear war. Of course, Israel would say that the Iranians are so crazy that they would accept their own annihilation just to launch one nuke at Israel, but again, there is no evidence whatsoever for such a ridiculous contention.
In short, the real 'fear' here is that Iran with a nuclear capability would act as a bulwark against Israeli and US hegemony and off-the-leash criminality and murder in the Middle East. That's why Iran "must be stopped", because Israel wants to remain the economic and military top dog on the block.