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Bad News For Euro Rescue: US Is NOT Discussing Larger IMF Contributions To European Rescue Funds
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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WHO MAKES THIS SHIT UP!!! THANK FUCK I AM NIMBLE.
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.
Nobody said it yet... here it is:
GOLD BITCHEZ!!
If everyone buys gold and silver, this market will be dead in no time.
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.
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?
"Greed...for lack of a better word...is GOOOOOD."
Excellent comment. This is what I have suspected, but have not taken the time to confirm.
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.
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.
American Morons First Policy!
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?
The fact that it was leaked then denied means THEY WILL DO IT IFN THE SHITE GETS WORSE - buy GC and SI
i bet that europe frontran this info!
The market is now a complete and total travesty.
Rhetorical statement, eh?
It is. Don't be in it.
Out is nicer.
ORI
http://aadivaahan.wordpress.com/2010/12/01/of-leaking-wikis-and-true-lies/
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. :>)
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.
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.
It's almost as if we need FAITH in something LARGER than OURSELVES.
Participation in a travshamockery can cause hoopdnfukkednessismalitys with your whathefukkizzat and whyzzitdoinitome lobes dude. Be careful.
mudduck gets the bobby prize for originality. It's clear I'm just an amateur compared to him/her. :>)
Extra meds today. We refer to ourselves as he. We likes boobies,probly even on prizes. Oops it says bobby prize... never mind.
The bobby prize is a set of fake boobies. Now that's a Travshamockery. :>)
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
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.
Thoughts have sounds, so listen up!
I TOLD you they were getting difficult!
mudduck, that is brilliant. Thanks for the laugh!
ORI
Guess they'll just have to sell all their gold...
He said as his eyes lit up with eagerness.
But then, I guess no rumor is confirmed until it is denied by those involved.
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!
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?
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.
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.
but...but...CNBC says otherwise!
http://www.cnbc.com/id/40454469
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...
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.
Who the F**CK put that news release thru Reuter to begin with?
Market? What Market?
Mr. Market has entered the sauna and will be available around oneish.
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.
EUR/USD is still up over 130 pips on the day. God Damn. Not plunging enough after this news.
Does it really matter what is going on with IMF, the HFTers ratchets the market up with hot potatoes, that's all that matters
Lol the "news" is just cover for overt manipulation.
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.
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.
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.
of course they will bail/fund unless burned to the ground...
after all could you refudiate a kneeling Palin?
Lehman failed. That's more than can be said of Europe. Interestingly "they failed because they were late to the bailout bazaar."
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.
Put on a hat, you are about to be rained with junks.
It looks like one, but it isn't. It is over too short a time frame to signal a reversal. In reality, it is nothing more than an attempt at chart painting by the EE. These false charts have failed over and over again over the past year.
Fundamentals rule the gold market now.
Yep.
Fundamentals: Fear and Loathing!
GATA: reports $100 swings in gold by end of the month.
Interesting: palladium and platinum up; gold and silver more sedate - manipulated?
you're looking at the wrong market. "it's about the debt markets"--no matter how many CNBC and Bloomberg virgins we throw at him "the volcano is not appeased."
As long as the little line (or little row of candles) keep climbing from bottom left to top right of your chart, don't worry about it.
This is simply outrageous. The technique of the false news story was perfected during the 2008 collapse. No one was held to account then either. Check that perfect dump of 3.3 million SPY creation units right before the story was retracted. Would be nice to know which fund that was.
As the syndicate destroys the credibility of the markets, and as The Bernank destroys the currency...these two entities are targeting, intraday, those places Americans moved to to avoid these criminal elements: bonds and gold.
Revolution. There is no way to put this back together. Capital will not form in a nation whose financial institutions are this corrupt.
The revolution of simply closing the wallet.
corruption on a grand scale alright, robbing pensioners and the poor, what sort of evil is that!
Doing devil's work
I "see your revolution and raise you a Royal Confab...
The dow and snp were too near critical levels so they had to fake a reason to push it back up and squeeze shorts
Frontrunning the ECB http://www.reuters.com/article/idUSLDE6B023U20101201
It's amazing how many times TD has had to say:
What a shit show. A "travesty" a year ago has no comparison to a "travesty" today.
And like the job and GDP revisions the market considers this old news now and now need to return those freebie Dow points. Bravo once again rumors. More proof this market is going down a hole it will not escape.
What if the fed released the bailout data to take the dollar down? Just puttin that out there
I'm waiting 'til the markets crash 50% before I get back in. Buying Silver bullion while I wait. Anyone else thinking/doing same?
Hoser
No. Definitely not.
If you think the market is about to crash by 50%, then holding silver bullion is a dumb idea.
If you're preparing for a stock market crash, then you should transfer your assets into cash.
You apparently like trading with robots, but without force-feedback, their grippers might just crush your bones -- good luck wit dat!
I'm out of the market for a long time. PM and some cash only until monkeys fall out of trees.
now you're talking...
The media, the government, the trading desks, the federal reserve, the markets, the banks, and countless numbers of disengaged Americans are lodged in the door of a Target in rural Kansas at 5:00 a.m. in the morning, crushing one another in a desperate attempt to be the person that gets their hands on the deeply discounted Chinese electronic gadget....
It's all fake.
Does anyone even care anymore. Look at the Egyptian elections results which is merely the flip side of the perpetually "better" Western+China economic reports. The signaling hasn't apparently penetrated the RBA and or Canada as yet with those "tepid" GDP reports. Even that strong China PMI was enought to close the market up 0.00001%. The crowner has to be UK conundrum. That sewer of arrogance is single handedly overturning the laws of physics with their economic miracle of austerity.
The MSM Hydra is in full effect today. One head says one thing, another head another-cnbs had reported differently earlier. Talk about capitulation! Too bad PMs keep hitting their daily support lines (all are currently at support now).
Platinum daily support at $1678
Gold support at $1388
Silver support ar $28.35
I noticed that CNBC was abnormally chipper across the board this morning... They sounded more like the gals on the Home Shopping Network.
Lots of real strong "positive" inflections... At least that what it said on the teleprompters they were reading...
It was really over the top even for CNBC... I was expecting a mushroom cloud any second.
"mo mo monkeys." One of ZH's "all time greats."
C'mon now, Fed! You supported the whole Ponzi in 2008. You can't just back away now. We're all in, like it or not.
Anyway, all they need to do is threaten to let Spain banks go under and you'll come runing
Speaking of banks, I would have expected a much stronger move up from them on this kind of news... this is more smoke for something else larger I think.
Moving debt around (from here to there) holds much promise these days.
Of course it does. It's all that's left.
Plunging, seriously REALLY, it went down 19pips or so from the quick move up this morning...
200-500pips is a plunge
I thought this was all about stopping the train wreck that are Euro bonds...and mighty effective. All came in nicely on the forever and ever greater bailout news.
But if no bigger bailout, what rabbit comes from the hat tomorrow to avoid the resumption of the Euro bond selloff? Big # from BLS gonna help?
Tomorrow?
Spread tighting courtesy of the ECB.
But ECB protection only equalizes the pain from periphery to raising core funding costs.
I think that's why they need US (IMF) big backing to spread the infection with those that can freely print to fund the higher funding costs?
Interesting to note that 10yr US T bonds were about to bust through 3% (at 2.99%) when this bailout was refuted. Was this a trial balloon?
BTW - the move of 10yr T's from 2.5% to 3% will cost us an additional $70B / yr. or $350B /yr (assuming we rollover and create new into these higher costs).
A simple return to 4% average T yields (well below the 50yr average of 5.5%) will take up $560B of our $2.5T in tax revenues (an additional $200B / yr). CBO must shudder at the idea of 5% ($700B /yr interest only payments...think sovereign subprime supreme)!!! Not only can we not pay any principal on this debt, we can't even pay normal interest rates any longer. Don't even think about funding the unfundeds. Just push, push, kick, kick it all down the road.
I guess that is why you can count on QE3, 4, 5, infinity keeping T's low.
"gettin' warmer, Jack. Gettin' warmer...
I saw that, too.
Now that the Fed has been outed as the European Sugar Daddy, it'll cost us.
I don't want to hear any more bitching from the other side of the Atlantic.
"gettin' colder, Jack. REALLY cold....
They have invented the PERPETUAL MOTION MACHINE. It moves UUP and it won't stop!
Went to bed last night 11pm CST, markets down, euro down, international man-hunt for Assange, BAC slammed, PIIGS grunting for bailout slop, world coming to an end.
Wake up this morning, markets climbing to the moon, EU crisis fixed, Fed's bailout and QE policies vindicated, Jamie Dimon a cool dude ...
Wait at minute, let me peek outside ...
OMG, the sky's pink, skittles are falling every where, and there are unicorns grazing in the yard.
+1
My wife used an acronym "PFC" (Prepared For your Consumption) as an explanation for what we see each day. I'm just tired of watching repeats.
have no fear..."they don't call it This Time is Different" for nothin'...
Hehe...
TD, do you see ZH as playing a part in this "Travesty of the Market"
See: Heisenberg uncertainty principle
Here It Comes: US Gives Green Light On IMF-Mediated Rescue Of Europe, EURUSD Goes Parabolic new
Bad News For Euro Rescue: US Is NOT Discussing Larger IMF Contributions To European Rescue FundsIm not knocking ZH at all... Just pointing out that maybe some people read news here and act on it, thus reenforcing the loop...
Not sure how big the ZH "effect" would be, but it wouldn't surpise me if it was measurable on large scales.
Food for thought.
It's possible that Tyler Durden is Ben Bernanke LOL.
Ben doesn't have that kind of strategic vision, sadly.
If he did, we wouldn't be in the jam.
I always thought of Tyler as being smart and honest, you know, the Joe Biden of the internet.
maybe they are not discussing it, maybe they just gave it!
Semantics, US won't but the Fed Reserve will.
French Hens Bitchez!
http://www.latimes.com/business/la-fi-twelve-days-20101129,0,1487694.story
(up 233%)
250 Points today on what??
Hopium
Lord Blankfein's command. That's what.
better than expected coincidence
"ask me no questions and i'll tell you no lies."
The market is definitely not a travesty any more than a canary is misplaced in a coal mine.
The market over the last three years has been and is a highly sophisticated video game. With the advent of e-trades, the same set of skills used in video gaming has proven to be extraordinarily accurate in making (or losing)
money in the FOREX, stock, futures, and spot commodity markets.
If I had not paid any attention over these last 38 weeks to ZH, i haven't a shred of a doubt about how much I could have made.
I have a practice account in all four markets and simply by 'driving' the mouse, clicking and pointing, pointing and clicking when I've just felt like taking a stab, I have doubled my money. One trade alone on interest rate futures on the 10 and 30 yr bond (short, in contrary opinion to a blog character named Moishe on Bulls and Bears blog) has made up for all the mistakes I've made paying attention to the negativity on ZH.
I have no doubt that like a stopped clock ZH will be right about the collapse and keep reading for a sense of the timing (which is proving less than useless).
On the other hand I have no doubt that when I go completely long, I will be crushed beyond redemption. There seems to be a law in the universe that when Anony goes long the bottom falls out and when Anony goes short the gods have marshalled their forces to deny me a dime in profit.
EURUSD plunging now.
Well, not anymore. Euro is now strengthening by 1%+ versus the dollar.
Now it takes $1.3133 to buy 1 euro.
Why is that? If the EU has to print more Euros to make up for lost funds from the IMF, how is that euro bullish?
The market is now a total and complete travesty.
-Yup
i prefer "a tragedy wrapped in a whitewash surrounded by an enima."
The US will contribute more. Think Afghanistan and the involved NATO forces...we 'owe them'.
I'm worn out! That'll do it for my FX trading today. This is chaos; the non-linear system dynamics kind. 300 ASCII characters on a news feed is moving trillions of dollars.
Yep. Reminds me of the day back in March '09 when the entire equity complex went fucking ga ga because that turd Vikram Pandit let it be known that C was about to 'improve profitability' (when it should really have been bankrupted). That was it for me. One sentance across the wires and onto CNBC and billions move. Pure bullshit.
Nobody said it yet... here it is:
GOLD BITCHEZ!!
If everyone buys gold and silver, this market will be dead in no time.
if they weren't going to do it, then they wouldn't need a press release, right? right. of course they'll backstop the IMF. it will *feel* like something less but it will be an implicit pledge to do so.
Tyler, You are such a tease. You said The WSJ says US is not discussing a larger IMF contribution. The problem was taken care of. Dont you know The Uncle Bennymeister is on it? He simply left a few zeros off the amount. It was just a simple typing error . Piece of cake Gordon. Rally on.
Remember when Obama said to buy stocks, for the long run! March 4 or so
http://www.nydailynews.com/news/politics/2009/03/03/2009-03-03_obama_says_buy_stocks_now_good_deals_the.html
Then meets with bankers on the 27th
http://www.voanews.com/english/news/a-13-2009-03-27-voa28-68812822.html
I am sure that means at least untill he is gone and cashes out. Same a bernafuck!
There is no law, only banking rules.
EURUSD is not plunging.
Sorry for the Source, but relevant to topic.
http://www.cnbc.com/id/40454469
http://www.cnbc.com/id/40456600/
The headline on CNBC.com is: "US Ready To Back Bigger EU Stability Fund: Official". what it should have read was "US Ready To Back Bigger EU Stability Fund: an Official"
two completely different propositions.
Intentional LIE
What scares me is that there is no official clarification on this, and the media is not even acknowledging the fact that there are two competing and totally opposite stories out there.
C'mon...do you really wonder if the Fed will backstop the EU?
If needed they will backstop the devil himself to maintain the ponzi.
This dump by the Fed confirms all the banker conspiracy theories and that self-government is non-existent.
and increases the prestige of most philosophy majors as well...
People have been talking about this for years -
http://www.youtube.com/watch?v=cAe1lVDbLf0
Euro will plunge Friday afternoon...
EURUSD - pump & dump!