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And REJECTED: Sarkozy Spokesman Says No 'Mergency Merkozy Meeting, zEURo Tumbles

Tyler Durden's picture




 

Sorry, no announcement. Just more rumors from the Eurozone. This is, if nothing else, becoming fucking hilarious.

  • Sarkozy spokesman says no Franco-German initiative on Greece today

Additionally, Europe has officially run out of rumors to recycle for the next 24 hours: even vacuum tubes remember stuff about China and Merkozy bailing out stuff.

After soaring on the latest fake rumor, EURUSD tumbles on the news:

 

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Tue, 09/13/2011 - 07:50 | 1662986 scratch_and_sniff
scratch_and_sniff's picture

scary bears!

Tue, 09/13/2011 - 08:01 | 1663025 MarketTruth
MarketTruth's picture

Talk talk talk talk it's only talk...

www.youtube.com/watch?v=cbuqtDhTAwQ

Fact is... they are screwed. TRAPED!

Tue, 09/13/2011 - 08:03 | 1663029 Global Hunter
Global Hunter's picture

in other words they're TARPed

Tue, 09/13/2011 - 07:50 | 1662987 freethinker4now
freethinker4now's picture

AGREED. China sneezes. Europe catches AIDS

Tue, 09/13/2011 - 08:26 | 1663080 augie
augie's picture

Not HIV but full blown aids...

Tue, 09/13/2011 - 08:35 | 1663107 WonderDawg
WonderDawg's picture

Nice obscure Family Guy reference. Kudos.

Tue, 09/13/2011 - 07:51 | 1662989 HelluvaEngineer
HelluvaEngineer's picture

No other words to describe the action in the futures: "full retard"

Tue, 09/13/2011 - 07:51 | 1662990 Irish66
Irish66's picture

whiplash, neck braces for sale

Tue, 09/13/2011 - 07:51 | 1662992 SilverIsKing
SilverIsKing's picture

But what does the other Sarkozy spokesman have to say?

Tue, 09/13/2011 - 07:52 | 1662994 Cdad
Cdad's picture

Yep...this is the end game.  Statements will not fix what is wrong in Greece.  Only default will.  All that algo driven love for ES yesterday...for nothing.

 

Tue, 09/13/2011 - 07:55 | 1663007 HelluvaEngineer
HelluvaEngineer's picture

I just hope some idiots were left holding the bag.  That's all I ask.

Tue, 09/13/2011 - 07:59 | 1663022 Cdad
Cdad's picture

Hard to say brother engineer.  The way the f'd market works now, as I posted yesterday, is that selling causes it to rise and buying causes it to fall.  But it's a hard gig, a close like that, and who knows who f'd it up.

I took the opportunity to open one additional short position.

Tue, 09/13/2011 - 07:52 | 1662995 Fips_OnTheSpot
Fips_OnTheSpot's picture

at 14 CEST (in 10mins) there will be a press con w/ Merkel and Katainen (PM of Finland) about "ze crisis".

Tue, 09/13/2011 - 07:53 | 1662998 Mae Kadoodie
Mae Kadoodie's picture

Sark-on Sark-off.

Tue, 09/13/2011 - 07:56 | 1663008 snowball777
snowball777's picture

Sarcophagus.

Tue, 09/13/2011 - 07:59 | 1663020 malikai
malikai's picture

This sarcasm is offensive.

Tue, 09/13/2011 - 07:53 | 1663000 mvsjcl
mvsjcl's picture

Do rumors of rumors sway markets?

Tue, 09/13/2011 - 07:55 | 1663005 freethinker4now
freethinker4now's picture

Bloody well seems so, how pathetic this market is!

 

Tue, 09/13/2011 - 07:58 | 1663013 malikai
malikai's picture

I'd like to take this moment to inject more moldy cheese in the already green fondue market.

http://www.youtube.com/watch?v=IddaRTuYRW4

Tue, 09/13/2011 - 08:29 | 1663086 DefiantSurf
DefiantSurf's picture

Bananarama? Really? Either your completely flaming or you forgot the [/sarc], either way I can't get back those 4 seconds so your junked!

Tue, 09/13/2011 - 08:30 | 1663088 malikai
malikai's picture

I'm sorry you dissaprove. I thought my sarcasm was apparent. What is moldy cheese to you?

Tue, 09/13/2011 - 08:39 | 1663120 DefiantSurf
DefiantSurf's picture

I stand corrected that is moldy, cheesy yes, flaming gay certainly, rescinded, carry on

Tue, 09/13/2011 - 08:43 | 1663138 malikai
malikai's picture

The real tragedy here is that the collapse did not occur during the summer. I would have then been able to drop the thermonuclear cheesebomb of "Cruel Summer". I'm holding back my tears as I type this.

Tue, 09/13/2011 - 08:06 | 1663037 Ethics Gradient
Ethics Gradient's picture

I've heard a rumur to that effect.

Tue, 09/13/2011 - 07:54 | 1663003 Apostle of Unknown
Apostle of Unknown's picture

These kinds of rumour mills and confused leaks do imply that there is a lot of commotion and activity amongst European decision centers. Wasn't it like this as well 3 years ago?

Tue, 09/13/2011 - 08:01 | 1663026 mac768
mac768's picture

"The inmates are in charge of the asylum there IMHO"

Tue, 09/13/2011 - 07:55 | 1663006 Lord Welligton
Lord Welligton's picture

Bloody hell.

What a bunch of clowns.

Tue, 09/13/2011 - 07:56 | 1663010 catladdy
catladdy's picture

Acting as a beheaded chicken

Tue, 09/13/2011 - 07:57 | 1663016 alien-IQ
alien-IQ's picture

so I guess this means we should be hearing another preposterously hilarious rumor shortly after European trading closes?

Tue, 09/13/2011 - 08:00 | 1663023 Zola
Zola's picture

How ridiculous this is. On all of these retarded rumors the market should just spike gold. That will start teaching them that their BS is going to start backfiring soon.

Tue, 09/13/2011 - 08:19 | 1663061 Smiddywesson
Smiddywesson's picture

On all of these retarded rumors the market should just spike gold.

 

No, it shouldn't, not yet anyway.  Paper gold is used to quell fears and create illusions.  If there is one thing we have learned from this crisis, it's that paper gold doesn't have to do anything related to the fundamentals during a news event.  

Gold is rising despite price manipulation because central banks are buying.  If they want to stop its rise, all they have to do is halt their purchases and sit on it.

Did ZH readers really think the central banks would continue buying gold when there were rumors of a Greek default and with French banks in a panic?

Do you really think they will continue to buy with gold poised to breach $2k??  Eventually, yes, they will have to, but that time has not come yet.

Bad news means extra price suppression, plus, the Boyz halt their purchases.  Therefore, bad news is bad for gold prices.  And that's why I told everyone to cover last Friday. 

Tue, 09/13/2011 - 08:03 | 1663031 The Onion Of Tw...
The Onion Of Twickenham's picture

Oh well, that felt like we were about to get the Greek "controlled default" routine. Merkel was on German radio this morning and made some comments about the importance of not having an "uncontrolled Greek default". That sounded awfully like a Freudian slip where the clear subtext is "we're getting ready for a controlled default". 

Tue, 09/13/2011 - 08:03 | 1663032 overmedicatedun...
overmedicatedundersexed's picture

turkey and israel are not news, but rumors of EU meetings get front page.

Tue, 09/13/2011 - 08:03 | 1663034 ISEEIT
ISEEIT's picture

Nuts. Nuts enough to make me drop my S/L entirely and add to my margin. I'm sticking with the ride down.

Tue, 09/13/2011 - 08:04 | 1663035 NervousRex
NervousRex's picture

It has become an escargot cult.

We're waiting for ze bivalves to return.

 

Tue, 09/13/2011 - 08:04 | 1663036 chump666
chump666's picture

yeah its a bad joke.  dax just got slammed back to reality.  china has now dropped the ball twice, spain, now italy.  this is getting bad.

Tue, 09/13/2011 - 08:07 | 1663038 Migrated Bird
Migrated Bird's picture

They should waited till the US vacuum tubes woke up before making the announcement. It would have been fun. Right now European markets are like headless chickens. 

Tue, 09/13/2011 - 08:08 | 1663039 Reptil
Reptil's picture

Behold the "Merkozy": a terrible awe-inspiring creature able to roam markets invisibly, and move them without taking any descision.

Yeah it's getting ridiculous.

Tue, 09/13/2011 - 08:09 | 1663042 milanitaly
milanitaly's picture

I would like exit euro right now. Then we will see how much are strong franch and german banks and how many bonds sarkozy and merkel will have to issue to save them

Tue, 09/13/2011 - 08:09 | 1663043 NervousRex
NervousRex's picture

Lazlo the High Frequency Economist is shattering glasses and windows coast-to-coast on CNBS right now. Forecasting continued wavering high frequency economic events to come.

 

Tue, 09/13/2011 - 08:15 | 1663047 Silverhog
Silverhog's picture

Market up on rumors of a boat load of Chinese Leprechauns carrying pots of Gold spotted off Sicily.

Tue, 09/13/2011 - 08:14 | 1663048 Cursive
Cursive's picture

 

zEURo

Lulz, TD. ZH needs to trademark this.  Maybe WB7 can give us some artwork.

 

Tue, 09/13/2011 - 08:14 | 1663050 Quincy
Quincy's picture

When do the investigations for spreading false information begin ... wink wink.

Tue, 09/13/2011 - 08:17 | 1663057 FunkyMonkeyBoy
FunkyMonkeyBoy's picture

Are you spreading a rumor that there maybe an investigation into these rumors?

Tue, 09/13/2011 - 08:17 | 1663053 MsCreant
MsCreant's picture

I heard a rumor there were to be no rumors today. Damn!

Tue, 09/13/2011 - 08:17 | 1663056 catladdy
catladdy's picture

We are experiencing a prelude to many failed auctions of US debt. By 2015: sino Reserve currency, our debt so great that 6% interest cost will ut us in BKrtpcy.

Sino will own our interstates, Alaska, Hawai. Taiwan will cede to China

 

Tue, 09/13/2011 - 09:03 | 1663194 web bot
web bot's picture

This is a very insightful comment. Today, the Fed has flattened the yield curve... but what happens when the markets start to demand a higher interest rate due to the markets desiring greater returns for risk. It's coming.

Tue, 09/13/2011 - 08:17 | 1663058 TradingJoe
TradingJoe's picture

Dispair! Nothing but Dispair! Then FREEFALLLLLLL!

Tue, 09/13/2011 - 08:25 | 1663075 It is a bargin ...
It is a bargin my friend's picture

It at least gave Gold the kick up the arse it needed

Tue, 09/13/2011 - 08:31 | 1663092 augie
augie's picture

I am a little concerened this kick will not be enough to counter the iminent liquidations of anything that is not nailed down. Doesn't the conventional wisdom say, "you never sell what you should, you just sell what you can"? Someone correct me if i'm wrong, please.

Tue, 09/13/2011 - 08:26 | 1663076 It is a bargin ...
It is a bargin my friend's picture

Double post ..

Tue, 09/13/2011 - 08:29 | 1663085 Bicycle Repairman
Bicycle Repairman's picture

I'll start two completely bogus rumors:

- BUFFETT IS BUYING GREEK BONDS AND SAYS THAT BUYING GREEK BONDS IS GOOD FOR AMERICA!!!!!!!!!!!!!!!!

- THE IMF IS SELLING THEIR GOLD AND BUYING GREEK BONDS!!!!!!!!!!!!!

There, now Europe has another 7 or 8 hours.

Tue, 09/13/2011 - 08:31 | 1663089 Smiddywesson
Smiddywesson's picture

Once the system reaches the point of no return, the news is all show.  I believe we reached that point more than two years ago, so the news is irrelevant, except maybe to measure the motivations of price manipulation.  

Thank God for physical.

Tue, 09/13/2011 - 08:35 | 1663105 bugs_
bugs_'s picture

mark it zEURo!!!!! LOL

Tue, 09/13/2011 - 08:37 | 1663111 caerus
caerus's picture

over the line!!!

Tue, 09/13/2011 - 08:43 | 1663134 overmedicatedun...
overmedicatedundersexed's picture

all is ok in EU, Buffett has agreed to pay off Greek debt for ownership in the infrastructure of Athens and Sparta and one greek virgin bride.

Tue, 09/13/2011 - 09:08 | 1663205 Downtoolong
Downtoolong's picture

Go long, call a meeting, take profit and get short, cancel meeting, cover for profit & go long...........nice gig if you can get it.

Tue, 09/13/2011 - 09:53 | 1663305 Die Weiße Rose
Die Weiße Rose's picture

How can i soar like an eagle when i'm surrounded by turkeys ?

“Are you the one who screwed me over last time?”  “Yeah, you are.” 

Who would do such a thing ? And I never complain. Wow… 

You’re totally out of control, you’re a hater, and you’re unattractive inside !

Really, don’t even look at me! I promise you, don’t look at me, ’cause I am not the one. Don’t look my way.”

We’re in America last I checked, or is this Europe ?  Can I get a water or am I gonna get violated for a water ?

this is, if nothing else, becoming fucking hilarious....

 

 

 

Tue, 09/13/2011 - 10:52 | 1663630 skohiu
skohiu's picture
  • Sarkozy spokesman says no Franco-German initiative on Greece today
  • Until 2:30PM EST today.....

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