This is a really great and perfect time for the SDR!

As a reminder, yesterday's stopgap announcement by the ECB to expand its SMP purchases of secondary market Italian and Spanish bonds was merely as a precursor to full EFSF monetization until its comes fully online in September (or sooner) in a vastly expanded format (between €1.5 and €3.5 trillion).

If Germany is now against this, which appears to be the case, it pretty much means, well, game over.

http://www.zerohedge.com/news/it-just-went-bad-far-far-worse-germany-says-italy-too-big-efsf-save-refuses-carry-euro-bailout-

Italy and Spain in the works and now to an ever increasing extent France is starting to feel the heat.

FrAAAnce is about to become FrAAnce, which also means that Germany's worst nightmare: that of backstopping the EFSF entirely on its own, is about to become realityhttp://www.zerohedge.com/news/pimco-us-downgrade-heralds-new-financial-era
http://www.zerohedge.com/news/pimco-us-downgrade-heralds-new-financial-era

Bottom line - EFSF, or rather Germany, most certainly is not able to manage this on its own. And it seems this now is playing out for the SDRs. I mean a really fast quick SDR implementation. This as I almost can hear what the ECB and The FED are yelling at todays conferens call - We need the $100 trillion NOW.

For a world that has supposedly largely priced in the US downgrade, the amount of emergency conference calls this weekend is a little disturbing. First, tonight at 22:30 GMT the G20 deputy finmins will hold a conference call It to "exchange of information and opinions." Next tomorrow sometime the ECB will hold a separate call in "response to the latest developments in the euro zone's debt crisis, an ECB source said on Saturday." Somehow we think the tangential topic of the historic US downgrade may also be breached. And, as always, the market is sure to be delighted with the outcome of this latest political hodge podge of responses to what is increasingly shaping up like a market perfect storm of epic proportions.

http://www.zerohedge.com/news/emergency-meetings-galore-ecb-hold-crisis-conference-sunday-g20-hold-call-2230-gmt-tonight

I mean ANYBODY has been able to see this coming now for YEARS. And there seems to be no one in any remote way prepared for it?

Ops sorry I forgot the SDR contingecy plan now in the works almost for decades. The IMF Central Bank structrur in place - Check . Is there enough panic - not just yet but very soon. Okey lets go! But first lets create as much meyham as possible for another weak to really meak em up. Soon they'll come craling begging on their knees for the SDR and another shot of stimuli.