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Berlusconi Invites Hedge Funds To Destroy His House Of Cards Economy After He Announces Victory Over EUR Speculators

Submitted by Tyler Durden on 05/27/2010 12:56 -0400

In arguably the most ridiculous news of the day, Reuters quotes Italian PM Silvio Berlusconi as saying that the "unified EU response has defeated speculative attack on the EUR." That's odd - the last time we checked, the euro was trading about 1 basis point away from the lowest level seen in half a decade. We are curious just what the PM's definition of "victory" is? Interestingly enough, Zero Hedge's disclosure that European banks are the primary shorters of the euro currency (also remember that whole story about the incentives of European countries to blow themselves up?) has forced Deutsche Bank CEO Josef Ackermann to publicly announce that his bank has not shorted the euro. We eagerly await all other European banks, especially French and Italian ones, to follow in DB's footsteps and make it all too clear that it is not them 1) shorting their currency and 2) attempting to blow out their govvie spreads by all means necessary.

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Thu, 05/27/2010 - 12:58 | 377116 Rogerwilco

The Euro isn't surrounded, it's attacking in all directions.

Thu, 05/27/2010 - 13:44 | 377257 Cognitive Dissonance

A lie told enough times becomes the truth to those who wish to believe anything to stave off the pain of the truth. The lie functions only to placate those already under the spell of the liar, never to turn non believers into believers.

Thu, 05/27/2010 - 14:15 | 377364 dorksgetlaid2

Great Quote.

Thu, 05/27/2010 - 14:16 | 377366 Popo

Where does Berlusconi get his definition of "victory"?

Simple:

http://en.wikipedia.org/wiki/Pyrrhus_of_Epirus

Thu, 05/27/2010 - 13:01 | 377127 Trichy

It iz ze germans. Since 1T package 56% of germans want out of the euro up from 16% three weeks earlier.

Thu, 05/27/2010 - 13:05 | 377131 TooBearish

63% of Americans were against Obamacare - still have it....New World Order Dood...they don't give a shite what you or any other plebe wants...

Thu, 05/27/2010 - 13:06 | 377133 Apostate

This may be the thing that brings down Silvio.

Thu, 05/27/2010 - 22:34 | 377194 Mercury

He's probably been "down" twice today already. This is the man after all who literally turned the Italian parliament (appointed not elected now I believe) into a leather couch strewn gentlemans' club complete with cocktail waitresses...cleverly turning the perks into the job itself.

Thu, 05/27/2010 - 13:35 | 377227 MayIMommaDogFac...

MayIMommaDogFace2theBananaPatch's picture

Right-hook, stone-statue into the jaw has already been tried on this guy. FAIL.

Thu, 05/27/2010 - 13:11 | 377148 badameli

He's italian - he can't tell victory from defeat.

Always on the losing side...

Thu, 05/27/2010 - 14:23 | 377387 MarketTruth

Have done many business deals with Italians for quite a few years, what you say is very true. Besides, Italians have brought the art of tax evasion to a fine art PLUS anything less than total chaos/meltdown goes virtually unnoticed. Add to the fact they will rip you off virtually any chance you allow them to...

Thu, 05/27/2010 - 13:13 | 377152 Sqworl

After confiscating Flavio Briatore's $25M yacht for back taxes...he's feeling rich!! lol

Thu, 05/27/2010 - 13:48 | 377272 Cognitive Dissonance

Looks like a converted fishing trawler to me. Where's the dam helicopter pad. No self respecting yacht calls itself "Force Blue" without a helicopter pad.

Thu, 05/27/2010 - 14:24 | 377392 Problem Is

Is the crew Blonde Robo-Girls in low cut (no cut) tops n' thongs???

Thu, 05/27/2010 - 13:19 | 377178 theobannion

It's hard to knock Berl out of the box because he's a media mogul. Same applies to changing the system in the US - gov/biz/press all one big happy family. TV best propaganda vehicle in history since the Big Bang.

SOB/RBG

Thu, 05/27/2010 - 13:22 | 377187 Turd Ferguson

Berlusconi is a douchebag.

Thu, 05/27/2010 - 13:34 | 377225 Double down

Well played sir,that "douchebag" comment hit the spot! I am crying with laughter.

You guys make my day.

Thu, 05/27/2010 - 16:36 | 377623 Clayton Bigsby

i see your douchebag, sir, and raise you cunt-biscuit! - he's the dirtiest fuck-whore out of them all

Thu, 05/27/2010 - 13:23 | 377189 Grand Supercycle

That ongoing buying support I detected has morphed into a rally...

http://stockmarket618.wordpress.com

http://www.zerohedge.com/forum/latest-market-outlook-1

Thu, 05/27/2010 - 13:29 | 377207 JohnKing

OT -- Bloomberg hypocrisy!!!! Jail the Oil Guys, ignore Wall Street Crimes!

Count Crimes Committed in Oily Gulf of Mexico

But if someone filed a false report, manipulated a test result or showed any attempt at deceit, that would ratchet up a Clean Water case to a felony. It could also trigger prosecution for fraud, obstructing justice or filing a false statement against the individuals involved, as well as their employer.

http://www.bloomberg.com/apps/news?pid=20601039&sid=awDwwghB5ZXg&?huffbl...

Thu, 05/27/2010 - 13:43 | 377256 economicmorphine

The administration can't do shit in the Gulf and they know it. With ANWR off limits, Washington decided long ago that the Gulf of Mexico was expendable. Shut off drilling in the Gulf and gas will be $20 come re-election time. I am certain of almost nothing, but I am 100% certain that Obama is just blowing hot air on oil and the Gulf.

Thu, 05/27/2010 - 13:35 | 377229 Aductor