Stacy Summary: The ban on naked short selling in European government bonds and Germany’s 10 largest banks is apparently in place until March 31, 2011. Via @NicAbbo77 here is text of German ban on naked short selling. Regardless, the turmoil doesn’t seem as bad as post Lehman as many were warning yesterday and gold is off its all time euro high. It seems to me the argument from bankers is that we are in an Afghan poppy like corner – we have to let the warlords grow poppies or else there will be Taliban chaos! Failed states, failed markets. Or as Max says, “Without fraud there would be no markets” **UPDATE**: The final headline is from Denninger; and he says that there is also a ban on naked shorting of gold.
- Market chaos warning after German ban on naked short selling
- Swaps soar on Germany’s ‘act of desperation’
- ‘Carry bloodbath,’ ‘full blown liquidations imminent’
- Hedge funds bet $1trillion European bailout won’t work; lay hyperinflation trades
- Germany has had enough – Market Ticker
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