Bad News For Euro Rescue: US Is NOT Discussing Larger IMF Contributions To European Rescue Funds

Tyler Durden's picture

According to the WSJ the US is not discussing a larger IMF contribution to the European Rescue Fund. EURUSD plunging now. The theater continues. And since the market went up on the news, why would anyone expect it should go back down when the news is refuted. The market is now a total and complete travesty.

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scratch_and_sniff's picture


Whizbang's picture

Who cares if we don't contribute to the IMF. We have currency swaps, and the power to print our own money. Both efforts will stablize the euro.

egdeh orez's picture

Nobody said it yet... here it is:


If everyone buys gold and silver, this market will be dead in no time.

tahoebumsmith's picture

For those of you who haven't figured it out yet, let me give you a shovel and you can dig further. The POMO pump is running in line with the same outflows of insider selling. Without this artificial pump the market would spiral out of control. You see the FED and the FRBNY are replacing the outflows of the insiders that are selling. They are working it together like a well conducted orchestra so that the CRONIES can get out and replace the stock with soon to fail taxpayer money. This is the only way they could allow such an exit to go unnoticed. It really is that simple, QE1, QE LITE and now QE2 is simply an open invitation for those privledged insiders to get on a life boat while the rest of the ship is headed for the iceberg. Just look at the ratios Tyler has been so on top of... You see where there is a will there is a way. So once the insiders get all their money out and the POMO band stops marching, the parade will come to an end and the taxpayers will get stuck holding the empty bag once again.

mtomato2's picture

Pretty interesting take.  I'd love for it to be true because finally there would be something I could get my head around.  Pure, unadulterated human greed.  Does anybody else have anything to say about this possible insight?

doolittlegeorge's picture

"Greed...for lack of a better GOOOOOD."

metastar's picture

Excellent comment. This is what I have suspected, but have not taken the time to confirm.

Buck Johnson's picture

Spot on, spot on.  They are doing everything to get their insiders and people out of the market without a panic.  So they are using the govt. to keep the market pumped up and which is allowing the others to get out while the gettings good.  Just like yesterday, what was truly positive for the market to go up.  The ADP committee talking about cuts and stuff isn't that positive, it says their will be belt tightening.  And then for the market to go up with the news flash of the US going to backstop ECB via the IMF on a financial plan and then after the European market closes another news flash saying the US won't input more money into the IMF.  Reading betweent he lines tells you that the EU is in such bad shape that they need the US to bailout the whole of europe essentially.  If anything the EU should have been horribly bloody while money was leaving to go to the US, but both markets went up.

This telling me that they where manipulating the market in order to keep europe from imploding.  Why doesn't the EU print like the US, it's because they aren't stupid they know where that would lead and another they aren't one nation but 16 within a framework calling itself a country.  They couldn't get all those disparate countries to agree to monetization like the US.  The US will do it because they have everone in this country conned and essentially ignorant.

johngaltfla's picture

Told y'all it was bullshit. There was no way the US woulc backstop their lunacy. We have our own morons at the Fed to take care of.

bugs_'s picture

American Morons First Policy!

AccreditedEYE's picture

VIX uptrend still in place with this stupidity...(and off its lows) 

DXY has pulled back and held too. How much do we give back into the close?

TooBearish's picture

The fact that it was leaked then denied means THEY WILL DO IT IFN THE SHITE GETS WORSE - buy GC and SI


sabra1's picture

i bet that europe frontran this info!

Oh regional Indian's picture

The market is now a complete and total travesty.

Rhetorical statement, eh? 

It is. Don't be in it.

Out is nicer.


Cognitive Dissonance's picture

What I find mostly overlooked is this.

Tyler just posted a video of crazed shoppers fighting over discounted trinkets and flat screen TVs. Well, what do we call these massive launches in the markets? Isn't this exactly the same mentality? Aren't the crazed traders and market manipulators herding in exactly the same manner as those insane shoppers?

BTW it's now become a Travshamockery for anyone who's interested in the exact terminology. :>)

jmc8888's picture

The herd behaves the same.  Whether it is Halo, teletubbies/pokemon/furbies/some action hero, or a market ramping into whatever news, just so long as there's a (an apparent) tidal wave behind the person pushing it somewhere.

It's not just for poor, look at the club lines.  Hundreds of people standing in line to pay 15 bucks for a watered down drink if they're lucky enough to get in.

It's just sad when you look at it in-total.  Maybe someone should rip off that signs, signs everywhere signs song and call it lines, lines, everywhere lines.

Ahh the good old days, when people screaming and pushing each other was for a few unlucky fucks who's kids wanted the one or two toys they made 90 percent too few of.  Now it's anything, just as long as it's discounted. (like the market, much of these were planned for publicity to some degree, and look where they took this idea, let's have lines wrapping around the block with tens for 4 days so I can get a crock pot for $6.99)

In that video, I saw a woman on the ground, and while on the ground you could see she was TRYING TO SHOP.  She literally is picking up a ski mask or whatever winter item is like that (Phx here lol), and trying it on while people are still trying to pick their ass up off them.  Well, while I'm here....

No doubt, the markets are a carbon copy at this point.  It's black friday every market day at this point.


Cognitive Dissonance's picture

In that video, I saw a woman on the ground, and while on the ground you could see she was TRYING TO SHOP.  She literally is picking up a ski mask or whatever winter item is like that (Phx here lol), and trying it on while people are still trying to pick their ass up off them.  Well, while I'm here....

I believe if you look closely you will see that she lost her wig when she fell/was pushed down and she wasn't going anywhere until she put it back on her head. After all, we must maintain our dignity when we're herding.

Jean Valjean's picture

It's almost as if we need FAITH in something LARGER than OURSELVES.

mudduck's picture

Participation in a travshamockery can cause hoopdnfukkednessismalitys with your whathefukkizzat and whyzzitdoinitome lobes dude. Be careful.

Cognitive Dissonance's picture

mudduck gets the bobby prize for originality. It's clear I'm just an amateur compared to him/her. :>)

mudduck's picture

Extra meds today. We refer to ourselves as he. We likes boobies,probly even on prizes. Oops it says bobby prize... never mind.

Cognitive Dissonance's picture

The bobby prize is a set of fake boobies. Now that's a Travshamockery. :>)

impending doom's picture

I believe the traveshamockery line came from a beer commercial. It was shown often during sporting events played by millionaires shortly before I cancelled my propaganda  delivery service...

BTW, are we preparing for an influx of proletariat members? CAPTCHA: zero + ? = 6

Cognitive Dissonance's picture

It's nice to know that I can still regurgitate my programing on cue. :>)

I often say I haven't a single original thought in my head. Most of the thoughts that are there have been implanted by corporate and government propaganda via "mandatory" school and "voluntary" television viewing.

StychoKiller's picture

Thoughts have sounds, so listen up!

mtomato2's picture

I TOLD you they were getting difficult!

Oh regional Indian's picture

mudduck, that is brilliant. Thanks for the laugh!


tmosley's picture

Guess they'll just have to sell all their gold...

He said as his eyes lit up with eagerness.

tmosley's picture

But then, I guess no rumor is confirmed until it is denied by those involved.

Dick Darlington's picture

Maybe Benron and Timmah are so bored atm that they decided to reinvent the classic yo-yo. Instead of a piece of plastic and a string they use "markets". Up and (sometimes a little bit) down we go!

NotApplicable's picture

They're gonna wear out all of their levers of power if they keep this up!

Or should I say, they're gonna run out of wrenches to toss into the gears?

etrader's picture

That 1155 area still looks interesting  for the ES (z) to aim at for the upcoming Dec OE.

Would shake and bake a good few after todays action.

PD Quig's picture

I'm thinking you're right. But then I have to think that because, you see: I'm the guy.

I'm the last short.

Like Burgess Meredith down in the bank vault when the bomb went off on Twilight Zone.

I have the whole fucking short kingdom to myself.

traderjoe's picture

The GM IPO was my last and final straw for when the 'Market' jumped the shark into total travesty - the endless pumping and pimping of a government-owned company by the MSM, etc. Of course, there were a lot of little (and big) travesties along the way...

AR15AU's picture

Bernie Madoff was truly put to shame. I never imagined a fraud of that magnitude was possible.

The coordination across all channels of media really demonstrated beyond a shadow of a doubt what we are up against.   

spongeBOB's picture

Who the F**CK put that news release thru Reuter to begin with?

shushup's picture

Market? What Market?

T Rex's picture

Mr. Market has entered the sauna and will be available around oneish.

tmosley's picture

Mr. Market is sleeping with the fishes.

It's Weekend at Bernies while TPTB try to convince everyone that everything is fine and normal.  Like Bernie's maid pretending he is still alive so she can keep collecting a paycheck.  

TemporalFlashback's picture

EUR/USD is still up over 130 pips on the day. God Damn. Not plunging enough after this news.

Racer's picture

Does it really matter what is going on with IMF, the HFTers ratchets the market up with hot potatoes, that's all that matters

qussl3's picture

Lol the "news" is just cover for overt manipulation.

MyKillK's picture

Reuters actively engaged in manipulating the markets. Why actually fix underlying problems when you can have the newswire pretend they don't exist? Brilliant plan.

lizzy36's picture

One wonders why this story got even a passing pause as  a significant increase in IMF funding by the US will require Congressional approval and is therefore a non-starter.

Although one cannot superimpose rational thought on an irrational entity.

DavidRicardo's picture

They won't call it "funding."  They will structure it as something else. 


But it IS accurate.  The final amount is $70 trillion.  If you were these guys and saw that bourgeois unemployment in the U.S. is still at "full employment (less than 5% unemployment), this is the amount of bailout you would sign off on.


No haircuts, no defaults.

karzai_luver's picture

of course they will bail/fund unless burned to the ground...

after all could you refudiate a kneeling Palin?

doolittlegeorge's picture

Lehman failed.  That's more than can be said of Europe.  Interestingly "they failed because they were late to the bailout bazaar."

depression's picture

Gold's non-reaction to all of this may be signalling something important. Looking at the daily charts of the PM's, certainly looks like a head and sholders top could be in the process of forming, the pattern is most obvious in the daily charts of Platinum and Gold.

TWORIVER's picture

Put on a hat, you are about to be rained with junks.