The Mainstream Media "Explains" Stuff Again, Hilarity Ensues

Tyler Durden's picture

Yesterday, the mainstream "media" was very useful in explaining why both bad economic news and good economic news lead to stock market rallies. Today, the same mainstream media is even more useful in explaining why stocks are up as the Taper seems less likely, while gold is down because the Taper is... more likely. And #Ref!

Reuters "explains" that because "concerns receded that the Federal Reserve would begin to unwind its stimulus earlier than expected", stocks rose.

At the same time, Bloomberg "explains" that because data improved, "the case" for the Fed to reduce "stimulus" strengthened leading to a gold plunge.

* * *

So, stocks up on no Taper, while gold down on... Taper. With "reporters" like these, who cares what the NSA is listening to?

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mjorden's picture

I care ZH, I care ...

slaughterer's picture

As a reminder, VIX futures margins are to increase following the close of play today

ACP's picture

More interesting would be the fact that the HFTs have been banging IWM up all day, hard core. Every 5 minutes this last hour, like clockwork.

john39's picture

the beatings will continue until morale ceases to exist.

Stackers's picture

I'm still trying to figure out who these "some people" are that reporters are always quoting.

ParkAveFlasher's picture


WhiteNight123129's picture

When TSYs get to 2.20 or below, SHORT TREASURIES BITCHEZ.

Paper pushers want to hurt PM holders, retaliate and SHORT TREASURIES if they rally to 2.20 on the 10 Years, the 30 Years strip is the sweet spot.


The whole palladium, platinum, and to a lesser extent SILVER is up. This indicates a support from industrial demand, Gold unforunately does not have the industrial demand support which makes it easier to manipulate.




francis_sawyer's picture

As long as everyone is content to get their daily 'JERK AROUND' by [Reuters/Rothschild]... They'll continue to get the same treatment


Lot's of happy go lucky water toters on this planet...

CitizenLame's picture


Dewey Cheatum Howe's picture

Off topic but since Benghazi is still in the mix. Interesting new details in the case with official (maybe) Libyan intelligence documents to back up the claims.

Well, well, looks like Egyptian President Mohamed Morsi WAS directly involved with the attack in Benghazi that killed four Americans According to a Libyan intelligence document, the Muslim Brotherhood, including Egyptian President Morsi, were involved in the September 11, 2012 terrorist attack on the U.S. consulate in Benghazi, where several Americans, including U.S. ambassador to Libya, Chris Stevens, were killed.


Raymond Ibrahim  (h/t Jim Y) On Wednesday, June 26, several Arabic websites, including Veto Gate, quoted the intelligence report, which apparently was first leaked to the Kuwaiti paper, Al Ra’i.  Prepared by Mahmoud Ibrahim Sharif, Director of National Security for Libya, the report is addressed to the nation’s Minister of Interior. It discusses the preliminary findings of the investigation, specifically concerning an “Egyptian cell” which was involved in the consulate attack. “Based on confessions derived from some of those arrested at the scene” six people, “all of them Egyptians” from the jihad group Ansar al-Sharia (“Supporters of Islamic Law), were arrested.


According to the report, during interrogations, these Egyptian jihadi cell members “confessed to very serious and important information concerning the financial sources of the group and the planners of the event and the storming and burning of the U.S. consulate in Benghazi…. And among the more prominent figures whose names were mentioned by cell members during confessions were: Egyptian President Mohamed Morsi; preacher Safwat Hegazi; Saudi businessman Mansour Kadasa, owner of the satellite station,Al-Nas; Egyptian Sheikh Muhammad Hassan; former presidential candidate, Hazim Salih Abu Isma’il…” It should be noted that these findings are unsurprising: the supremacism of prominent Brotherhood figure Safwat Hegazi is such that he publicly declares the Brotherhood “will rule the world;  Saudi Mansour’s hate-mongering, pro-Brotherhood TV station repeatedly aired footage of the YouTube Muhammad movie inciting violence around the Muslim world; popular Sheikh Muhammad Hassan holds that smiling to non-Muslims is forbidden, except when trying to win them over to Islam;  and Sheikh Hazim Abu Ismail is simply an openly anti-freedom, anti-infidel religious leader. As for President Morsi, a video made during the consulate attack records people speaking in the Egyptian dialect: as they approach the beleaguered U.S. compound, one of them yells to the besiegers, “Don’t shoot—Dr. Morsi sent us!”

See website for official documents.

Dewey Cheatum Howe's picture

And to go along with this.

Was Egypt’s president, Mohamed Morsi, behind the Benghazi attack? The terrorist attack in Benghazi is far more disturbing than previously thought. Although not  reported in the U.S. media, the possibility exists that the Egyptian government may have played an operational role in the attack. YouTube videos of the terrorist strike raise a serious problem that only an Arabic speaker would detect: some of the terrorists are speaking in the Egyptian dialect of the Arabic language.


Frontpage Magazine  Indeed, one of the videos shot with a cell phone of one of the attackers emerged around the time four Americans were killed. It shows a mob approaching the American compound under siege, clearly telling the terrorists in the dialect of Upper Egypt: Mahadesh, mahadesh yermi, Dr. Morsi ba`atna” — which translates to: “Don’t shoot, don’t shoot, Dr. Morsi sent us.” The words “Mahadesh yermi” for “don’t shoot” are characteristically spoken in Egyptian Arabic, while Libyans from Benghazi would say, “Matermey” for “don’t shoot.” “Dr. Morsi” refers, of course, to president Mohamed Morsi of Egypt. The name Morsi is Egyptian and does not exist in any other Arabic speaking country.


The Egyptian regime’s connection to Benghazi also helps explain why it denied U.S. the ability to interrogate Abo Ahmed, an Egyptian suspect in the terrorist attack. According to a Fox News report, Abo Ahmed had contacted Al-Qaeda leader Ayman Al-Zawahiri in late 2012, asking to establish a base in Libya “to take advantage of the conditions in Libya after the revolution in order to buy weapons and attract foreign fighters.” Egyptian media demanded an explanation from the Egyptian regime on why Morsi’s name was mentioned by jihadists during the attack. This question went unanswered, and until now there has been no word of this issue in English-language media.


This incident fits a larger context: On the same day that the U.S. compound in Benghazi was attacked, so too was the U.S. Embassy in Cairo under attack, resulting in al-Qaeda flags flying above the embassy in the place of American flags. According to friends living two blocks away from the U.S. embassy, Egyptian security was withdrawn from protecting the embassy a month prior to the attack – a development without precedent. Reports from numerous Egyptian dissidents at that time, which included prominent Egyptian dissident Wael Abbas on his twitter account, stated that the people surrounding the U.S. embassy in Cairo were not protestors but “regime-hired thugs.” Anyone who has lived in Egypt knows that Egyptian citizens don’t have access to enter the neighborhood where the U.S. embassy is located without passing through at least two check points where they are required to show personal ID, state the reason for entering the neighborhood and provide proof of this purpose. I know because I personally had to do this numerous times for decades.


It should not come as a surprise that the Muslim Brotherhood (MB) would engage in attacks against the United States. The MB’s ideology incorporates war tactics and supports terrorism against the U.S. as one of its major objectives. The current MB leadership isn’t ashamed of announcing its support for al-Qaeda and Osama Bin Laden’s attack against America. The MB member and Freedom and Justice Party (FJP) Vice Chairman Essam El-Erian stated in March 2011: “The assassination of the leader Osama Bin Laden doesn’t mean the end in the war against the enemies of Allah. The way he was killed reveals the ugly face of American civilization.” Yet after El-Erian’s announcement of his support for Bin Laden, State Department officials welcomed him in December 2012 in the U.S..


According to the MB and Sunni doctrine, it’s only permissible for Islamist leaders to maintain a ten-year duration of hodna (Islamic truce) with an infidel nation. This raises the question of whether breaking the truce was the root of the Sep. 11, 2012 attack in Benghazi. That attack against America was, according to Islamist doctrine, the only way the MB would be allowed to renew a truce. The MB also might have possibly needed to legitimize their Islamic rule among their jihadist followers through exercising jihad. The MB’s duality and hypocrisy remain major war tactics. While dealing with the U.S., Morsi himself practices deceit when he, for instance, calls President Obama a liar in Arabic, and a friend in English. The MB war is fueled and encouraged by the submissive and self-loathing suicidal foreign policy of the Obama administration, which elevates U.S. enemies above U.S. interests.


Let's see the MSM explain this one. Oh wait they won't they will just ignore everything out of hand.

NotApplicable's picture

Funny how there's all this info, but nothing connecting Morsi with his DC handlers who setup this fake abduction.

Tell me, do you work for the State Department directly?

12ToothAssassin's picture

Benghazi is the one that counts - all these others including Snowden are all intended to minimize the damage of the big B - Where EXACTLY was Obama at that time??

Bastiat's picture

No problem--it is certain that Hillary's opponents in the next presidential race will not be so rude as to mention this, other than superficially. 

NotApplicable's picture

I don't doubt this. I was pointing out the the posts above work to ABSOLVE Obummer of culpability, laying the blame for the whole affair at the feet of Morsi and the Muslim Brotherhood.

I find it kind of strange that someone would go to all of the trouble to post this without continuing on to the obvious conclusion that there are western intelligence agencies directing it all.

Dewey Cheatum Howe's picture

Wrong. You still have the issue of the stand down order and why. It is well known that prominent members of the Muslim Brotherhood have positions in the White House and government in general. One is linked to Hillary and Wiener running for mayor of NYC.

These are some known MB people

Arif Alikhan – Assistant Secretary for Policy Development for the U.S. Department of Homeland Security.

Mohammed Elibiary – Homeland Security Adviser.

Rashad Hussain – Special Envoy to the (OIC) Organization of the Islamic Conference.

Salam al-Marayati – Obama Advisor and founder Muslim Public Affairs Council (and its current executive director.)

Imam Mohamed Magid – Obama’s Sharia Czar – Islamic Society of North America

Eboo Patel – Advisory Council on Faith-Based Neighborhood Partnerships


Huma Abedin - Weiner's wife and former Hillary aide also has ties to the MB.

Yesterday was important because they had closed door classified hearings concerning Benghazi. More importantly Carter Ham former head of Africom testified, he knows who gave the stand down orders. There is only One person who could legally have issued the order and the Only person higher up on the command food chain a general would have to comply with the order like it or not or else risk being relieved of duty, which apparently happened since they ignored the initial stand down order since it wasn't given by One that they had to follow the order due to protocol. Generals and military in general are funny like that when it comes to protocol and chain of command.... Don't quote me on this but I believe the highest military rank a civilian can be considered based on GS pay grade is Colonel or Lieutenent Colonel = GS 15. Anyone in the military would have to defer to a civilian who's GS paygrade is higher than their military ranking when it comes to operations and orders. Only One non serving military member ranks higher than a general.

earleflorida's picture

Steven's bypassed Tripoli and went directly to Benghazi [cia hq] to negotiate/&/ turnover of 'MANPAD's' in rebel hands that were meant [probably?] to go directly to Syrian rebel's [al Qaeda?] with U.S. fingerprints all over the North Africa/ Southern?Europe sirocco! A tsunami out-of-season,... and a geo-political maelstrom timebomb!?


PontifexMaximus's picture

Hee, june 30th ahead, markets have to move north, the piper want's to be paid.

SmallerGovNow2's picture

Bingo!  End of Quarter window dressing and prep to take in 401k's at the highs...

Dr. Engali's picture

In other news today .The sun rose from the west today because it was tired of coming up in the east.

imbrbing's picture

That only happens on glue sniffing days for me :)

Kaiser Sousa's picture

i told ya'll despite all his rants Santelli is one of them also...

he just was asked by Buttaromo how do u explain the Gold crash...

He called real money advocates "doomsayers" like Rand and attributed the phony paper price fraud to them caving....

Fuck Rick Santelli...establishment bitch....

disabledvet's picture

"like trying to explain things to a woman" this market is. i agree. huh...go figure. "all news is good."

imbrbing's picture



Rules of news

                Rule #1 All news is good news

                Rule #2 If news is bad, see Rule#1

SemperFord's picture

Hate to doubt you but as please

fonzannoon's picture

when it becomes serious even santelli has to lie.

it cracks me up that people think because he yells and throws some garbage cans that he is not a part of the show.


Insignificunt's picture

I watched Santelli's garbage can antics the other day and couldn't stop laughing at what a piss-poor actor he is. His angry schtick makes Alex Jones' seem credible by comparison.

TheEdelman's picture


/wipes a tear away

but Santelli... he's all I have left on the picture box


NotApplicable's picture

He's a Freidmanite adherent of the Chicago Business School.

NOTW777's picture

thats not a fair characterization of what he said

Serenity Now's picture

I heard him.  He said gold people were Ayn Rand fans who are figuring out that they are wrong.  Santelli screams a lot, but he usually doesn't say anything worth hearing.

Then one of the CNBC panel guys (on with Maria later in the day) said that he hates gold, always has, never advised people to buy it on the run up, but now might be a good time to add a gold position to your portfolio at $1200.  I would have laughed, but it's not funny how they trick people.  

1C3-N1N3's picture

Doublethink is alive and well.

disabledvet's picture

more like "one track mind" it would appear.

Motorhead's picture

"One Track Mind"...another fine Motörhead song.

A. Magnus's picture

I always felt the Motorhead song 'Talking Head' was TOTALLY appropriate when decribing mainstream whore presstitutes...

1C3-N1N3's picture

Just gonna leave this here. It's abrasive, but I hear a lot of ZH in the words.

("We Never Should Have Met" by Aliases, 4:58)

McMolotov's picture

Yep, Orwell had this shit pegged:

"To know and not to know, to be conscious of complete truthfulness while telling carefully constructed lies, to hold simultaneously two opinions which canceled out, knowing them to be contradictory and believing in both of them, to use logic against logic, to repudiate morality while laying claim to it, to believe that democracy was impossible and that the Party was the guardian of democracy, to forget, whatever it was necessary to forget, then to draw it back into memory again at the moment when it was needed, and then promptly to forget it again, and above all, to apply the same process to the process itself — that was the ultimate subtlety; consciously to induce unconsciousness, and then, once again, to become unconscious of the act of hypnosis you had just performed. Even to understand the word 'doublethink' involved the use of doublethink."

ebworthen's picture

Excellent.  Thanks for that.  Absolutely pegged.

NotApplicable's picture

Absolutely indeed.

What I find interesting about it is how it negates the need to keep the narrative to a plausible fiction from unwinding. For instance, there's no coherent narrative surrounding the Boston bombing, nor will there ever be (I'm betting). Instead there are several of them which do not intersect at all, so the MSM picks and chooses which "facts" to represent when they feel the need to tell a story.

Burr's 2nd Shot's picture

The lesson (for me, at least) was that it is the Party members who were required to doublethink. The Party members got re-educated. The proles hadn't a worry in the world, except for booze, pornography, and the lottery.

prains's picture

"that was a piece of furtive knowledge which he happened to possess because his memory was not satisfactorily under control.......the enemy of the moment always represented absolute evil"

Ignatius's picture

I had that same thought the last time a professional lady friend of mine was giving me a hand j... oh, never mind.

Al Huxley's picture

Fucking brilliant - Orwell saw the future, in all its horrible detail.  I can't imagine a better description of the way society works today than that quote.

howenlink's picture

PMs, check.  Food, check.  Popcorn, check.  Kraken spiced rum, check.

francis_sawyer's picture

spam, spam, spam, spam, spam, spam baked beans, spam, spam, & spam... CHECK


jomama's picture

may i recommend Sailor Jerry's?

francis_sawyer's picture

You mean... spam, spam, spam, baked beans, spam, spam, Sailor Jerrys, & spam?

ebworthen's picture

Spam, eggs, sausage, and Spam; and Jim Beam Black.