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EU Commission Denies Agreement On New Greek Aid Plan

Tyler Durden's picture


And.... U-turn


There is no point in even commenting on the cannonade of unbelievable bullshit coming out of Europe at this moment.

The central planners have now officially lost their minds.


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Thu, 06/02/2011 - 14:18 | 1333248 Lord Welligton
Lord Welligton's picture

You can't make this stuff up.

Thu, 06/02/2011 - 14:24 | 1333263 AR15AU
AR15AU's picture

ZH plays into the Goldman Sachs bullshit rumor mill / intra-day reversal game. Kinda pathetic. 

Thu, 06/02/2011 - 14:27 | 1333285 hedgeless_horseman
hedgeless_horseman's picture

How else do you think Bloomie got to be so rich?

Thu, 06/02/2011 - 14:28 | 1333290 AR15AU
AR15AU's picture

My point exactly... Tyler, if I wanted to read bullshit, I'd just get a Bloomberg terminal.

Thu, 06/02/2011 - 14:30 | 1333302 tekhneek
tekhneek's picture

Nice avatar. I wanna get one of those.

Any advice? They're about $1,100 at my local shop.

Thu, 06/02/2011 - 14:33 | 1333317 Jeff Lebowski
Jeff Lebowski's picture

 You didn't ask me, but I have a Sig 516 Patrol.  More expensive than some other choices, but a very nice piece.

Thu, 06/02/2011 - 14:39 | 1333345 Agent P
Agent P's picture

I hope you budgeted a little extra for some own an AR with just an optic seems foolish.

ps: I didn't junk you...I love Sig.

Thu, 06/02/2011 - 14:43 | 1333370 Pegasus Muse
Pegasus Muse's picture

SIG 556 SWAT Quad Rail

Thu, 06/02/2011 - 14:43 | 1333382 Jeff Lebowski
Jeff Lebowski's picture


Thu, 06/02/2011 - 15:21 | 1333546 eatthebanksters
eatthebanksters's picture

Barrett 416...the best there is for long range kill shots...but for every day use I'll take the Belgian FN....308 rounds and works in the dirt.

Thu, 06/02/2011 - 14:32 | 1333333 FubarNation
FubarNation's picture

Bushmaster here.  Not as good as  Sig but good value.  Goes bang bang everytime.

Thu, 06/02/2011 - 14:43 | 1333380 postban
postban's picture

BCM is what you want for a reasonably priced, good quality AR15, great guns

Have owned Bushmaster, Colt, S&W, Olympic and DPMS along with more than 30 I built.

Vist for vast amounts of data

Thu, 06/02/2011 - 15:58 | 1333708 1911A1
1911A1's picture


BCM - top tier quality at a reasonable cost.  S&W, LMT, LWRCI, SIG, Colt are also considered GTG.  (I'm forgetting a couple manufacturers).

Rock River, Bushmaster, Stag, Double Star, etc. are considered 2nd tier and/or hobby gun manufacturers by some.

Thu, 06/02/2011 - 14:44 | 1333383 WonderDawg
WonderDawg's picture

Daniel Defense makes a good AR15. Mid-grade price level but high quality piece. I think they run about $900.


Thu, 06/02/2011 - 14:49 | 1333404 SoNH80
SoNH80's picture

Modell's has Louisville Sluggers for about $20.  Used single-shot 12-guages for about $40....  More useful in a pinch IMHO.

Thu, 06/02/2011 - 14:56 | 1333418 Shock and Aweful
Shock and Aweful's picture

Although it is off topic....

I'd say that three of the best and most well know Mfg's of AR-s are Bushmaster, Colt and DPMS - all three of these would be quality.  

I bought a Smith and Wesson M&P 15 personally....and have had NOTHING but good results. 

Thu, 06/02/2011 - 15:08 | 1333449 TruthInSunshine
TruthInSunshine's picture

My opinion is free. Treat accordingly.

Bravo Company Manufacturing makes the best AR platform rifle (a 16" middy is the flavor du jour) for the money, and their product rivals (and arguably betters, IMO, e.g. charging handle features - things like that) Colt & FN (FN bought the TDP from Colt and is now the official manufacturer for the DoD) in any and every way, but costs about 20% less.

I have zero affiliation with the company or any of its affiliates or retailers or channels in any way, shape or form, whatsoever.

And here comes the "wow, dude, that's blasphemy" statement:  I am not fond of 5.56 and if you're not heavily invested in the platform, check out 6.8 SPC, though ammunition availability and cost is yet to reach economy of scale yet.

Also at least consider a AR-10 like a LWRC if you want something with more horsepower.

Thu, 06/02/2011 - 14:58 | 1333440 Neoisolationist
Neoisolationist's picture was advertising a bushmaster car4 .223 for 699.00. has good reviews. I've bought 4 firearms from them. great company. fast service.


personally I have a ruger sr-556 with grip pod and eotech 512. no complaints.

Thu, 06/02/2011 - 14:58 | 1333448 AR15AU
AR15AU's picture

Thanks...  Depends on what you hope to achieve with it. Sig 556 or Rock River AR in 5.56 are great, but excessive for home defense. Most people would be better off with a nice Mossberg 500 and put the extra $$$$ in silver...   Cheers

Thu, 06/02/2011 - 15:08 | 1333478 TheTmfreak
TheTmfreak's picture

A converted Saiga 12 is my choice.

Thu, 06/02/2011 - 17:28 | 1334009 Widowmaker
Widowmaker's picture

All nice guns, but I like your idea best.   Something like an old SKS X39 7.62x39, redress it with synthetic everything (looks close to an AR15), total cost $350, and you can shoot dirt out of it and butter NATO bread.   Invest the rest into silver -- and away!

Thu, 06/02/2011 - 20:44 | 1334477 Sedaeng
Sedaeng's picture


Thu, 06/02/2011 - 21:21 | 1334521 Rodent Freikorps
Rodent Freikorps's picture

But if you think the world is going to end, there is no substitute for the M1 Garand.

I'll be wearing armor, and you will die with that pussy round, the .223

Just hit the lye delivery system when the flash bang goes off. That will truly fuck up the day of someone in armor.

Fri, 06/03/2011 - 00:18 | 1334836 Sedaeng
Sedaeng's picture

Replied to wrong comment :P


Fri, 06/03/2011 - 06:52 | 1335075 Prometheus418
Prometheus418's picture

Cash and carry Mossbergs are getting to be a little hard to come by around here- they disappear from the shows right away.  Got a Rem. 870 recently for a decent price, though.

Thu, 06/02/2011 - 15:09 | 1333487 LFMayor
LFMayor's picture

Check out CDNN.  Best prices I can find online.  1100 is a little steep, I'm guessing you live in some blue state hell hole like me?  The catalog is a pdf download. Take the info to your local FFL, have them contact CDNN and the Texans will ship it to them.  Shop around, FFL's in this area have a variance of "transfer" charges by as much as 20 bucks.

PS, i get no bennies for this, but CDNN, if you're listening: I should be

Thu, 06/02/2011 - 15:11 | 1333518 DosZap
DosZap's picture

If you buy one, make sure it has a Chrome Lined barrel.

Good ammo prices(if you can call any good now).

Thu, 06/02/2011 - 15:47 | 1333669 TruthInSunshine
TruthInSunshine's picture

Colt, Bravo Company Manufacturing, Lewis Machine & Tool, Noveske, Daniels Defense, FN, Larue Tactical, Knights Armament - I'd put these in the top tier. They're all good.

Spikes Tactical is an newer company that is turning out great quality, according to many, and at a reasonable price.

I have no opinion on S&W when it comes to their AR platform.

Thu, 06/02/2011 - 20:53 | 1334500 ipunchsquirrels
ipunchsquirrels's picture

S&W M&P15Tactical, superb platform..throw whateva you want in it and spits it back down the pipe with no least thus far after about 1000 rounds..

Thu, 06/02/2011 - 16:53 | 1333908 Sedaeng
Sedaeng's picture

I purchased a Chinese AK47, 7.62x39 round.  I done a ton of modifications to it already with a tad bit more to come. 2k rounds of ammo and counting...

I choose the AK platform for [reliability].  Having been in the Middle East from 2003-2007 Simply dropping your weapon or hitting the ground hard and getting any debris in your chamber can cause jams... Throw an AK purposefully into the mud, throw dirt purposefully into the chamber and you still have zero issues firing the weapon.  I dare you to try that with your AR platforms.

         "In the chaos of an early morning assault on a remote U.S. outpost in eastern Afghanistan, Staff Sgt. Erich Phillips’ M4 carbine quit firing as militant forces surrounded the base. The machine gun he grabbed after tossing the rifle aside didn't work either.

           When the battle in the small village of Wanat ended, nine U.S. soldiers lay dead and 27 more were wounded. A detailed study of the attack by a military historian found that weapons failed repeatedly at a “critical moment” during the firefight on July 13, 2008, putting the outnumbered American troops at risk of being overrun by nearly 200 insurgents."

I am not trying to start a pissing contest.  Just keep in mind you wont always be shooting from controlled conditions at a gun range.  You have to think of when the SHTF/WROL scenario manifests itself... I am assuming that is why you are all purchasing weapons...

Whatever your choice, best of luck during the coming transition period...

Thu, 06/02/2011 - 22:31 | 1334660 Founders Keeper
Founders Keeper's picture

[Simply dropping your weapon[M16, M4, AR] or hitting the ground hard and getting any debris in your chamber can cause jams...]---Sedaeng

Reliability is a serious consideration in a SHTF scenario. Thanks Sedaeng for adding your post.

All good posts above regarding ARs.

Consider. Which weapon "won the west?" Winchester lever? Colt Peacemaker? Gatling? Answer: The shotgun won the west.

The wild west was a lawless, dangerous, unpredictable era. Fraught with criminals, Native Americans on the defensive, banditos, speculators, and desperate travelers. Sounds a bit SHTFy to me.

The simple shotgun put food on the table and defended the homestead. Today's selection of actions, chokes, drop-in barrels, and numerous shot shell loads puts the shotgun in a category of its own.

I'm curious. How does body armor hold up to 1oz 12ga slugs?  Anyone?


Fri, 06/03/2011 - 00:17 | 1334847 Sedaeng
Sedaeng's picture

+10 for the clarification sir

Yes the American military issued M16, M4s & even the 249s as stated in the link to the article in my previous post.

I personally have the Sparta II carry system, with soft armor and plates it is rated at LVL IV protection.

All plates tested at the below link, rated LVL III, were capable of stopping a shotgun slug.  Other rounds were tested as well and listed.

Fri, 06/03/2011 - 07:00 | 1335079 Prometheus418
Prometheus418's picture

Agreed.  Lead-spitters are for armies- the fanciers will tell you how accurate they are, and they can be, but they are really designed to wound as many a possible as quickly as possible, under the theory that if you wound one guy, you effectively remove two from the battlefield when his buddy carries him to safety.

Myself, I've got the 870 and a really nice Marlin 30-30 lever gun.  30-30 was always a good coach gun, and has about 2x the range of a shotgun when hunting larger game.  Have taken many deer with both shotgun and lever over the years.

Thu, 06/02/2011 - 15:43 | 1333650 equity_momo
equity_momo's picture

That would cost you 2k a month buddy. How much you donated to ZH lately?

Thu, 06/02/2011 - 14:31 | 1333308 jus_lite_reading
jus_lite_reading's picture

Well you could but then they would call you a bipolar psychopath... psyops game back on again!!!

Thu, 06/02/2011 - 14:34 | 1333340 sabra1
sabra1's picture

no, but they did!


Thu, 06/02/2011 - 14:22 | 1333251 Cdad
Cdad's picture

LOL!  Lolololol!!

**I'm literally jiggling**

Thu, 06/02/2011 - 15:12 | 1333504 Gene Parmesan
Gene Parmesan's picture

"In denying the rumor, the EU Commission issued a statement explaining that 'we didn't not agree on a new Greek aid plan.'" 

Thu, 06/02/2011 - 14:18 | 1333253 slow_roast
slow_roast's picture

I'm short, I'm long, I'm short, I'm long, I'm fucking confused.  Fuck.

Thu, 06/02/2011 - 14:21 | 1333267 Cdad
Cdad's picture

I think I'm about to be fined by my broker for pattern day trading.

Good lord, will someone please invite the Central Bankers to a special "gathering" in honor of their "civic duty" in a room with a very heavy "door" and a large tempered steel "latch"  ?  Please.

Thu, 06/02/2011 - 14:48 | 1333384 The Fonz
The Fonz's picture

No kidding, I popped out of a position today, to reverse directions then had to put the original back on... unfortunately my brokers updates were very far behind and my first 3 attempts at orders didn't get filled. Then I just had to reverse right back into the original position. On the bright side though with every lesson costing hundreds of dollars I am remembering everything I learn! lol

Thu, 06/02/2011 - 14:46 | 1333396 A_MacLaren
A_MacLaren's picture

When that happens, can we MOAB 'em?

Thu, 06/02/2011 - 14:21 | 1333269 tmosley
tmosley's picture

Just buy physical PMs and let these fools burn themselves to death.

Thu, 06/02/2011 - 14:27 | 1333277 plocequ1
plocequ1's picture

Just spank the monkey. It clears any confusion and puts things in perspective. I highly recommend it

Thu, 06/02/2011 - 14:47 | 1333399 The Fonz
The Fonz's picture

Wait a minute... who the hell junks monkey spanking?!? 

Thu, 06/02/2011 - 15:00 | 1333444 knukles
knukles's picture

Good catch.  Go long Kleenex.

Thu, 06/02/2011 - 18:52 | 1334231 Bananamerican
Bananamerican's picture

"who the hell junks monkey spanking"

the monkey of course...

Thu, 06/02/2011 - 15:06 | 1333465 somethingelse
somethingelse's picture

they must be against manual labor

Thu, 06/02/2011 - 15:46 | 1333659 Rodent Freikorps
Rodent Freikorps's picture

People without a monkey?

Monkey envy.

Thu, 06/02/2011 - 18:37 | 1334203 MisterMousePotato
MisterMousePotato's picture

Would you like to buy a monkey?

Thu, 06/02/2011 - 14:22 | 1333254 Dreadker
Dreadker's picture

Priceless... lol

Thu, 06/02/2011 - 14:21 | 1333255 TruthInSunshine
TruthInSunshine's picture

They may have "denied" it, but did they "absolutely, categorically, without any question whatsoever, cross their heart, pink swear" deny it? Hmmmmm?

I didn't think so.

Until they do so, I give more weight to the "unnamed source" rumor.

Thu, 06/02/2011 - 14:21 | 1333268 monopoly
monopoly's picture

Truth, perfect, just perfect. lol

Thu, 06/02/2011 - 14:24 | 1333287 Cdad
Cdad's picture

Zimbawe Pixie Dust short position is now picking up steam, baby.  

And I think the Gay fashion short should soon change its mind after some dipshit fund manager went all in on the Greek rumor.  Anybody catch the put/call ratio on the XRT today?  I absolutely, categorically, without any question whatsoever, cross their heart, pink swear it is a sweet number.

Thu, 06/02/2011 - 14:20 | 1333260 FunkyMonkeyBoy
FunkyMonkeyBoy's picture

... so, there will be criminal proceedings against the person(s) who made the original noise and those news outlets that relayed this info? no? Not a clear case of market manipulation?

Thu, 06/02/2011 - 14:21 | 1333271 French Frog
French Frog's picture

you're very fast


Thu, 06/02/2011 - 14:31 | 1333261 French Frog
French Frog's picture

fecking hilarious lol

does the organised false leak by a reuters correspondent not constitute market manipulation ... in some book ... somewhere, not that anyone really cares about this?

makes me wonder, now that we had a really bad adp number yesterday, if tomorrow's nfp is going to surprise to the upside big time, leaving all the shorts to scratch their heads yet again?

Thu, 06/02/2011 - 15:04 | 1333474 slewie the pi-rat
slewie the pi-rat's picture

reuters link:

EU agrees in principle on new Greek plan-source | Reuters

story seems designed for deniability, eh? 1 source.  anonymous.

no, reuters just did it's part, i would say.   so, the news is out, and the devil's in the details.  this was the Econ&FinComm of deputy ministers.  hi-level meeting is 6.20.11:  "Details...remain to be worked out in time for a June 20 meeting of euro zone finance ministers, the source said."

so i'd say the leak is planned, relatively reliable and reliably deniable.  BiCheZ.

Thu, 06/02/2011 - 14:24 | 1333264 kaa1016
kaa1016's picture

These guys have lost their fucking bird. Now I'm completely convinced this market is about to crash.

Thu, 06/02/2011 - 14:25 | 1333270 SMG
SMG's picture

A small privileged few know exactly what's going to happen and when.  They quite enjoy looking down at us running around in confusion.  They love the power the hidden knowledge gives them.

Thu, 06/02/2011 - 14:36 | 1333338 aheady
aheady's picture

I hate that notion.

Thu, 06/02/2011 - 14:42 | 1333363 US Uncut
US Uncut's picture

Yes, but it is only a matter of time. Then The People will enjoy the site of their billion dollar mansion and yachts burning as well. 

Thu, 06/02/2011 - 14:23 | 1333280 agent default
agent default's picture

Huh? LOL

Thu, 06/02/2011 - 14:23 | 1333281 Deepskyy
Deepskyy's picture

5 year plan?

Thu, 06/02/2011 - 14:55 | 1333410 Dapper Dan
Dapper Dan's picture

It's the 7th, 3 year plan, in Oceania the prevailing philosophy is called Ingsoc.

Thu, 06/02/2011 - 14:28 | 1333292 tekhneek
tekhneek's picture


Anyone seen that movie Titanic II?

SPOILER ALERT: The boat still sinks at the end.

Thu, 06/02/2011 - 14:48 | 1333401 XenoFrog
XenoFrog's picture

In order to be on track with the White House's wildly optimistic predictions, we would need to be adding hundreds of thousands of new jobs every month. Is that happening? no. Then even by their own standards, they're complete failures.

Thu, 06/02/2011 - 15:06 | 1333485 earnyermoney
earnyermoney's picture

Thus the need for the "jobs saved" caveat. Just add "jobs saved" till you reach the desired number.

Thu, 06/02/2011 - 15:06 | 1333490 youngman
youngman's picture

If it on track and according to their plan.....kind of makes you wonder what their plan is doesn´t it...

Thu, 06/02/2011 - 14:25 | 1333273 Comrade de Chaos
Comrade de Chaos's picture


Thu, 06/02/2011 - 14:26 | 1333275 monopoly
monopoly's picture

yup, i hate holding confetti, but for now seems prudent. As much as I love my physical, I am out of miners, for  now. Getting a little scary for me.

Thu, 06/02/2011 - 14:28 | 1333282 alexanderstollznow
alexanderstollznow's picture

i dont think it is a u-turn. the first story is from unnamed sources, and this denial is official.

this seems to be the european way of easing the stories into the market.  and/or that there are many involved who just cannot keep their mouths shut.

Thu, 06/02/2011 - 14:26 | 1333294 TruthInSunshine
TruthInSunshine's picture

It's not like that.

It's a math equation.

You have to wait until all the denials and non-denials come in, and then compute them.

Only then will you be able to get the square root of the epitome of bullshit as a derivative of the proxy factor of fractional reserve banking.

Thu, 06/02/2011 - 14:34 | 1333323 Ying-Yang
Ying-Yang's picture

How about  non-denial denial?

Thu, 06/02/2011 - 14:30 | 1333299 slow_roast
slow_roast's picture


Thu, 06/02/2011 - 14:27 | 1333284 TruthInSunshine
TruthInSunshine's picture

Seriously, this has been one of the funniest days in the annals of Modern Money Mechanics & Associated Inevitable Toxic Bullshit I have experienced in quite some time.

I've quite enjoyed myself thusly.

Thu, 06/02/2011 - 14:27 | 1333286 Gubbmint Cheese
Gubbmint Cheese's picture

well when it becomes really serious... what do you have to do?


Thu, 06/02/2011 - 14:24 | 1333288 Dick Darlington
Dick Darlington's picture

Only things the european dragonhead, EU commission, knows are lie and deny. I guess it was time to pull out the "deny-card" since Jun(c)ker has been playing the "lie-card" so many times recently.

Thu, 06/02/2011 - 14:24 | 1333289 citrine
citrine's picture

Is it once again:"Never believe anything until it has been officially denied"?

Thu, 06/02/2011 - 14:46 | 1333397 tickhound
tickhound's picture

"Confess, and you may receive a quick death.  Deny, and you must be purified by pain. Do you confess?  DO.. YOU.. CONFESS?"

Thu, 06/02/2011 - 14:25 | 1333291 banksouttacontrol
banksouttacontrol's picture

Can they at least agree that they disagree to agree on the agreement.

Thu, 06/02/2011 - 14:26 | 1333296 amsterdam
amsterdam's picture

laughing so hard right

Thu, 06/02/2011 - 14:26 | 1333298 The Axe
The Axe's picture

Ready flash crash...ready bullshit meter.....

Thu, 06/02/2011 - 14:30 | 1333300 AldoHux_IV
AldoHux_IV's picture

They're #winning-- maybe the nooses have them thinking twice, but then again I'm sure their greed will get the better of them.

Thu, 06/02/2011 - 14:27 | 1333307 fuu
fuu's picture

Everything is going according to plan then yes?

Thu, 06/02/2011 - 14:48 | 1333393 tmosley
tmosley's picture

Is everyone save for those few who are insiders, and a few outsider outliers confused?

If so, then yes.

Thu, 06/02/2011 - 14:57 | 1333423 knukles
knukles's picture

Must be because Whazzhername on CNBS just gave one of those brilliant vacuous smiles when her eyes dart all over with that "Was that OK?" look.

Thu, 06/02/2011 - 15:17 | 1333559 slewie the pi-rat
slewie the pi-rat's picture

@ fuu.  yes, according to plan, i think. 

derivatives: once the banksters called the shot on what would be considered a default (any re-scheduling) and refused to budge, they got what they wanted.  and, the credit default swaps will trade for 3 more years.  maybe. 

anyhow, this is the real-time NWO trying to figure out wtf to do next.  but now, the banksters have the blueprint.  for the nations (reuters):  The source said the programme would involve detailed commitments by Greece on the governance of a new national wealth agency and the timing of specific privatisations, but it would stop short of intrusive international supervision of the agency. (END Paste from reuters, my emphasis)

Thu, 06/02/2011 - 16:36 | 1333869 Reptil
Reptil's picture

Translation: They want to decide who gets what piece of paper, without any government meddling in (democratic representation), and will collect taxes (thus assuming taking control over sourvereignity). No visible leader, for the people that might have a complaint, to adress to.

It's perfect, in that it fits like a glove in the absorption of Greece into the global inverted totalitarian structure.

Except for that it will fail IMO. The model only works if there's a slow transition. It seems to me, they're in a hurry, counting on chaos to assist in overcoming their lack of a stable basis for the continuation of the bailout scam. (an obvious scam because it's an insolvency crisis for everyone to see) If this is their model, good luck with that! lol

I just saw the new Adam Curtis docu: Don't agree with everything, but it does lift some ideas about what might go on in the minds of the ruling elite, out of the mists of uncertainty.

full episode here
and episode two

Thu, 06/02/2011 - 17:27 | 1333310 IEVI
IEVI's picture

This market is such a joke that I think they have resorted to using humor to diffuse our rage at the manipluation. 

Thu, 06/02/2011 - 14:31 | 1333311 banksouttacontrol
banksouttacontrol's picture

sorry operational error..

Thu, 06/02/2011 - 14:32 | 1333315 YesWeKahn
YesWeKahn's picture

Yes, they Kahn.

Thu, 06/02/2011 - 14:47 | 1333325 TruthInSunshine
TruthInSunshine's picture

Either the one unnamed source smashed their peanut butter into the EU's chocolate, or the EU Commission basically took the unnamed source's peanut butter, and literally dunked it into their chocolate.

Why they think they can confuse people and allow them to believe both possibilities can mutually exist is beyond me, and quite frankly, disturbing.

Now, I'm beginning to wonder about the stability of the of the global economy and the integrity & very credibility of those who are in charge of the store. /sarc/

Thu, 06/02/2011 - 14:32 | 1333327 Henry Chinaski
Henry Chinaski's picture

:) :(

waddya expect from the birthplace of drama?


Thu, 06/02/2011 - 14:35 | 1333330 haskelslocal
haskelslocal's picture

Obviously a jump of the gun. Retract and Re-Release. That's failure...

Thu, 06/02/2011 - 14:36 | 1333334 Quinvarius
Quinvarius's picture

As long as you stay on the USD collapse train, you don't need news.  Just a pocket calculator.

Thu, 06/02/2011 - 14:37 | 1333358 emsolý
emsolý's picture

The pocket calculator has only 9 digits ... can't do trillions.

Thu, 06/02/2011 - 19:15 | 1334293 knukles
knukles's picture

Shift key for "Bizzaro Notation"

Thu, 06/02/2011 - 15:20 | 1333555 toothpicker
toothpicker's picture


Thu, 06/02/2011 - 14:34 | 1333342 slaughterer
slaughterer's picture

Bizarro market likes this revocation better than the announcement. 

Thu, 06/02/2011 - 14:35 | 1333348 jal
jal's picture


From the previous news release:

Are they going to void and nullify all CDS.


by oogs66

 voluntary restructuring does not trigger cds.  all the talk about the complexity of structuring a restructuring to avoid triggering is just BS!


Did all the volunteers quit?



Thu, 06/02/2011 - 14:41 | 1333361 SoNH80
SoNH80's picture

Europe (Holland and Germany excepted) a trainwreck? Big f'n surprise.  The only circus that can make the D.C. circus look good is the Brussels circus.  A bunch of commies squabbling with a bunch of crypto-nazis.

Thu, 06/02/2011 - 14:51 | 1333408 GOSPLAN HERO
GOSPLAN HERO's picture

Commies versus National Socialists?

Nothing new here.

However, they worked together to destroy the Weimar Republic.


Thu, 06/02/2011 - 16:56 | 1333928 CompassionateFascist
CompassionateFascist's picture

And good riddance to it; Hitler didn't start WW II. Churchill and his handlers did. EU? Soon good riddance too.

Thu, 06/02/2011 - 14:42 | 1333365 DontShootTheMes...
DontShootTheMessenger's picture

This whole European fiasco reminds me of the way that soccer is played on the international stage.  You know what I'm talking about.  Player 1 is running down the field with the ball without a care in the world.  Player 2 sticks his leg out (maybe, maybe not) and "trips" Player 1 who (naturally) falls and then proceeds to flail about on the turf as if he's just had his leg shot off.  The ref runs over and gives them both a yellow card at which point Player 2 starts jumping up and down like a toddler whose favorite bankie has just been taken from him by a mean big brother.  Meanwhile, not to be outdone, Player 1 miraculously gets up and starts doing his little dance in the ref's face protesting the mistreatment he suffered at the hands (er, feet) of Player 2.  It's Europe's version of a night at WWE after someone has been wronged with a folding chair.  I'll let you figure out who's Player 1 (PIIGS, sorry, couldn't resist) and who's Player 2 (ECB, IMF, Germany, France, Chairsatan, the American taxpayer, etc.; sorry, my bad again).

Thu, 06/02/2011 - 14:41 | 1333367 labrat
labrat's picture

But look at how much money someone could be making each time they front run one of these "accidental" blunders (eg in the FX spot mkt)  ...why you could eventually pay of the Greek debt!

Thu, 06/02/2011 - 14:44 | 1333372 zaknick
zaknick's picture

This is bullish!!!

For Greece!

No footage anywhere on DirectBS on Greece. Not even Spanish channels.

Banksters uber alles!

Thu, 06/02/2011 - 14:47 | 1333387 Arch Duke Ferdinand
Arch Duke Ferdinand's picture

An Open Letter to the Troops: You’re Not Defending Our Freedoms....

Hail Caesar President Obama/Potus....

Thu, 06/02/2011 - 14:44 | 1333390 Black Forest
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Tomorrow's ticker:



Thu, 06/02/2011 - 14:48 | 1333394 Dick Darlington
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Thu, 06/02/2011 - 15:08 | 1333479 ReallySparky
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You owe me a keyboard!

Thu, 06/02/2011 - 14:45 | 1333391 the not so migh...
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woopsy daisy

Thu, 06/02/2011 - 14:46 | 1333395 Robslob
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EU The Movie: Lie Hard

Thu, 06/02/2011 - 14:51 | 1333398 knukles
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Reuters:  Wherethefuckever. 

Jean Clown-Junker announced today or was it last week some time because nobody really gives a rats ass anymore and only the butt ass insane are paying any attention, that everything in the whole fucking Euro-Ozone-Zone would be just Hunkie-Fucking-Dorrie if everybody would keep their mouths shut and quit spewing bullshit until he can be appointed as the new unelected titular (Opps, bad choice of words after DSK!) head (This one, too!) of the yet to be established but under some sort of potential  consideration to be possibly added to the next agenda for the newly unelected Head of Finance or Some Such Ministry for the EU as a whole whether anybody wants it or not.  Until then he has publicly stated that it's best if everybody just pretends that AUgust has arrived and books their Peak Season rooms and suites in Greece for early arrival.  The Greek Ministry of Cultural Confusion has agreed with said establishment of said pretend Continental mass vacation time and has promised free stale Baklava and Ouzo for the first 50 participants to arrive at the temporarily closed while everybody is on vacation (starting early, evidently) Athens International Bus Terminal.  So as to assuage any concerns concerning monetary affairs, Goldman Sachs has opened a temporary Cambio d'Exchange at the end of the far south wing of the Bus terminal immediately adjacent to the out of order Women's Water Closet in the Smoking Area.
Juncker went on to say publicly; "Why can't we all just be friends?" emphasizing by demonstration the spirit of European Unity by kicking a stray puppy square in its nut sack.  "If you fuckers don't shut the fuck up and just let me handle this, we'll never get anything accomplished.  Like,how many times do I have to tell you that too many chefs spoil the pot.  We desperately need to establish a pan-European committee to properly calculate the number of national representatives allowed to speak on behalf of their own countries without the approval of any non-functional EU bureaucracy so as to mitigate further confusion during these sensitive time." he said as he picked up his luggage on his way to the Hotel 6 and Quickie Mart on the Placa where Dominique Strauss Kahn was recently installed a night concierge and resident child entertainment specialist. 
More to follw on this breaking story.
And remember, it's only Thursday! 

Thu, 06/02/2011 - 15:01 | 1333446 shushup
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Thu, 06/02/2011 - 22:42 | 1334701 Coldfire
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J[ean Clown Junker] went on to say publicly; "Why can't we all just be friends?" emphasizing by demonstration the spirit of European Unity by kicking a stray puppy square in its nut sack.


Thu, 06/02/2011 - 14:47 | 1333400 labrat
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The situation reminds me of that WWII Greek underground character played by Anthony Quinn in The Guns of Navarrone who tricks and takes advantage of the Nazis by pretending to be a coward.

Acting crazy to manipulate the market so that is gives you an endless stream of money... clever, real clever!

Thu, 06/02/2011 - 14:50 | 1333403 StreetSmart
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meanwhile Moody's downgrades Greece from Junk to Shit.

Thu, 06/02/2011 - 14:50 | 1333405 Prof Gulliver
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Latest headline:

EU Puts Greece on Double-Secret Probation; Says Crisis Averted

Thu, 06/02/2011 - 16:29 | 1333848 Idiocracy
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Greece puts dead Trojan horse in Dean Wormer's ofice

Thu, 06/02/2011 - 14:52 | 1333409 sbenard
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Tyler, I couldn't have said it better. I don't use profanity, but if I was so inclined, I would chosen the same words.

Thu, 06/02/2011 - 15:10 | 1333492 TruthInSunshine
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Jesus said it was okay to curse when it's really necessary to stress the gravitas of a situation, and it's not being done casually or without specific and significant reasons of the conveyance of urgency.

Thu, 06/02/2011 - 15:16 | 1333531 shushup
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Tyler does always say it perfectly. Yes - END the FED

Thu, 06/02/2011 - 14:53 | 1333419 SheepDog-One
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Man this is all just straight up bullshit! Whole world gone completely insane to the point of schizophrenic daily flip flops on whether continents are totaly bankrupt, or totaly saved for years to come. NUTS!

Thu, 06/02/2011 - 14:59 | 1333420 Neoisolationist
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post placed in wrong location.

Thu, 06/02/2011 - 14:58 | 1333431 purplefrog
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Take a step back, breath deeply, exhale slowly.......

Thu, 06/02/2011 - 15:00 | 1333438 shushup
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So why is Reuters continuing to put out articles that the market is calmed by the Greek plan/agreement?

Thu, 06/02/2011 - 14:57 | 1333441 Ryman1075
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What a cluster this whole day has been.  The news has been like the weather in New England, "if you don't like it...wait a minute".

I uploaded my avatar today as an expression of my hope for the future.

Thu, 06/02/2011 - 15:03 | 1333452 shushup
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I cannot make out what your avatar is - too small.

Thu, 06/02/2011 - 15:04 | 1333473 earnyermoney
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Burning U.S. Fiat.

Thu, 06/02/2011 - 15:36 | 1333623 Ryman1075
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correct.  Very good for heating your home in the not so distant future.

Thu, 06/02/2011 - 17:06 | 1333970 mayhem_korner
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Also makes good packing for muzzleloaders...

Thu, 06/02/2011 - 15:05 | 1333462 Caveman93
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It's rabbit season! No! It's duck season! No! It's.....

Thu, 06/02/2011 - 17:05 | 1333967 mayhem_korner
Thu, 06/02/2011 - 15:04 | 1333471 buzzsaw99
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Misfortune shows those who are not really friends.


Thu, 06/02/2011 - 15:07 | 1333475 Silverhog
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Anymore austerity and Greece will explode. They would be doomed before the first check arrives.  

Thu, 06/02/2011 - 15:09 | 1333502 carbonmutant
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"Juncker denied rumors that he had called for a "crisis" Eurogroup meeting for next Monday June 6"

Thu, 06/02/2011 - 15:14 | 1333520 shushup
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Just curious - Where did Tyler get this info?

Thu, 06/02/2011 - 15:15 | 1333526 knukles
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EU's apparent raison d'etre.  To be ridiculed.

Thu, 06/02/2011 - 15:40 | 1333611 Miles Kendig
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No doubt.  For an organization whose sole purpose is to maintain the narrative this sort of deviation from the norms of bull shit peddling is most worthy of ridicule.  A sure tell tale as to the current condition of the institution and what passes for process.  Leona Helmsley managed the media better.

Thu, 06/02/2011 - 15:27 | 1333606 YHC-FTSE
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Well that was quick! - Didn't we table the u-turn for next semester? To be continued I think.

Thu, 06/02/2011 - 15:48 | 1333674 Problem Is
Problem Is's picture

Sweet! Total wax off... after this morning's wax on...

Thu, 06/02/2011 - 16:10 | 1333767 huggy_in_london
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As usual, and we have seen this so many time... someone puts the rumour out, just as the market looks like breaking.... euro rallies, stocks go bid then when the denial comes its too late, the damage is done, the shorts have covered and we dont go back to where we were before.  Its criminal, it really is.

Thu, 06/02/2011 - 16:26 | 1333821 marcusfenix
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so...the basket of pitted olives and loukoumades didn't do the trick huh?...maybe they should have thrown in a few hotel maids...

Thu, 06/02/2011 - 16:31 | 1333853 Doubleguns
Doubleguns's picture

Folks do not forget the European leadership has admitted they lie to protect the markets. Soooo that begs the question are they lying about the denial of an agreement which means there is an agreement and should you believe them if they say they have an agreement which could me they have no agreement. If you keep running in circles for 15 days you might figure it out or lose 40 pounds.  

Thu, 06/02/2011 - 18:58 | 1334247 Buck Johnson
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I agree with you, they have admitted that they will lie to protect the market.  I think there's no agreement.

Thu, 06/02/2011 - 16:34 | 1333863 SilverDoctors
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QE will go to infinity, and beyond. The rest is just drama.

Thu, 06/02/2011 - 16:47 | 1333904 Corduroy
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As I commented on the original story there was no way I would believe a "source" any sound bite from EU requires Evander "Real Deal" Holyfield or similar to put their name to it.

In any case - there is no Fckn way in hell that the Greeks will accept any more austerity, and those in charge no it

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