The German Government Has Had Enough

If you thought the German government was going to be a lapdog for Sarcozy, or worse, was going to fellate Brussels and the ECB, you got a rude shock today.

It appears that the German Government has just plain had enough of the crap that the banksters have tried to pull, and has decided to do what Barack Obama should have done in early 2009.

That is:

* No more naked credit crap, especially against sovereigns but not only against sovereigns. No insurable interest, no CDS - period.

* Naked shorting will now be actually stopped in 10 leading financial institutions.

* Germany has had it with naked shorting of Gold, and specifically noted bank manipulation of gold prices via naked shorts beyond intent or ability to deliver.

* Germany has also said that they're not going to permit Euro derivatives that are not a "bonafide" FX hedge. That is, no more naked bets on Euro movements either.

* Hedge funds are going to be regulated, position size limits mandated and enforced, reporting enhanced and a transaction tax is coming.

It's about damn time.

Webmaster's Commentary: 

"Mommie; Germany is being mean to us! PLease go kill them!" -- Gold in my Sacks

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