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EIB Refutes Latest Liesman Rumor
Following closely on the heels of Schaeuble's express concerns over leveraging the EFSF and his AAA rating, the EIB has come out with a direct statement refuting media claims (read Liesman unsourced rumors which served no other reason than to be a pretext for a month end window dressing rally) about the potential involvement of the fund in connection with the EFSF. So if the money man (Germany) and the SPV shell-partner (EIB) are both denying, then who or what is left?
Bloomberg reports:
The European Investment Bank said is has not been approached concerning a reported plan involving a special purpose vehicle connected wi th the European Financial Stability Facility for the purpose of bailouts.
“There have been media reports about a potential involvement of the EIB in a special purpose vehicle in connection with the EFSF, for the purpose of bailouts,” the EIB said today in a statement. “The EIB has not been approached and has no plans to be involved in this. The EIB will continue to focus on its mission which is financing viable investment projects.”
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I honestly dont think Liesman knows wtf the EIB is.
Its mandate is to invest in SMEs, sustainable shit, etc etc. Nothing mentioned about toxic debt of shitty countries.
What a joke.
I think they were going to create a new entity - called European Investment Bank, they figured they would get paid more than calling it European Commercial Bank, and didn't want to call it European Dumb Bank, even though that will be what the market calls it
Haha +100, was actually mulling this over the other day. Its essentially a micro-finance gov institution funded quasi-private and public. Only mandate is to invest wisely.
So yes, they only called it the Eu Investment Bank to garner it some prestige.
http://www.telegraph.co.uk/finance/financialcrisis/8790785/German-turmoi...
Indeed.
German turmoil over EU bail-outs as top judge calls for referendum
Germany's top judge has issued a blunt warning that no further fiscal powers may be surrendered to Europe without a new [German] constitution and a popular referendum, vastly complicating plans to boost the EU's rescue machinery to €2 trillion (£1.7 trillion).--Andreas Vosskuhle, Chief Justice of the German Federal Constititional Court
9/26/2011
Liesman reminds me of the guy in Deliverance who has to takes his panties down.
http://www.youtube.com/watch?v=yj4LnfkdJDM&oref=http%3A%2F%2Fwww.youtube...
I think Liesman wanted to show he could move the market. Now the market will pull his panties down and... well the clip says it all. Is Joe the Burt Reynolds character?
bankers are selling us out
http://expose2.wordpress.com
Let them all die. (I am feeling particularly uncharitable this AM).
EIB
I can't seem to find the button that says PRINT
http://www.eib.org/infocentre/sitemap.htm
The EIB will continue to focus on its mission which is financing viable investment projects. That's the money shot. Fucking hilarious.
They are of course lying, but still funny.
the fact that they're commenting on this rumor tells me everything i need to know
I mean come on, what do you expect from Lies-man?
The name says it all.
I saw that pompous ass on CNBS this morning taking credit for yesteday's market activity and knew he was going to get skewered here today! hahahaha! He even went so far as to say something like "I wonder if I had come out and said something different how that would have affected the market?" Fat jerk off.
Does anyone think Liesman's reputation is important to him? CNBC brings out all kinds of trash to spout the company line all the time. Can anyone forget how Lehman was a screaming buy? Can anyone forget Cramer calling the bottom, and then calling it again, and again, and again?
How's the JPM vs. Silver battle going?
I'm winning, and I really hope they hike the margin to infinity
THE END OF Q3 MARKET GOOSING IS WHAT IS LEFT!! THE LIESMAN RUMOUR HAD MORE TO DO WITH QE3 WINDOW DRESSING EFFORTS THAN IT DID WITH THE TRUTH!!
FRAUD AND LIES IS HOW THE MARKET FUNCTIONS ~ SO THIS IS PAR FOR THE COURSE
THANK YOU FOR TYPING IN ALL CAPS!! I CAN UNDERSTAND YOU POINT MUCH BETTER THAT WAY!! AAAAAAAAAAHHHHHHHHHHH!!!
What's the volume lately? I don't expect smart money to buy this bullshit, so it has to be the regular guy, though, they wouldn't account for any meaningful volume.
What is left is a huge equity boner. Apparently. Since the ignorance and digestion of bad news (read:reality) in the equity community (what's left of it) and the non-carbon based vacuum tubes is painfully slow we'll run on these fumes for a few more days. Then it's either time for a rumor of using traditional 50X leverage in the europonzi SPV or epic crash. I'll wait on the sidelines.
I think this whole bailout thing is toast. Markets are completely ignoring election results in German and France and the disolution of Spanish Parliament yesterday. The people are signaling disapproval, and it looks at this point any euro/bailout support would be political suicide.
This, among them all, has been THE EASIEST end-of-month/end-of-quarter equity rally to call EVER.
I saw it coming last Thursday. Where in the hell is my prize?
Ah....it's all good enough for another sucker rally all across the world as assets para-inflate a few handfuls of trillions.
It's like watching the fireworks. All ashes ultimately fall to the ground. Who will be left to clean it up? Or should I say, who will own the land by then?
But he's just an entertainer. And a bad one at that. But on the flip side, it's good that the rumor mill gets some play from this side of the Atlantic:)
'End of month window dressing', as we were discussing in the last thread, theres ALWAYS a daily reason why the markets got pumped...options epiring, its 'election season' daily 'better than expected' reports, its a Friday, its a Monday, its a day between Monday and Friday.
I'm sure I'll get junked to death for saying this, but Elliott Wave theory does a pretty good job of explaining why the markets can rise on days when the news is bad, and fall on the days when news is apparently good. Investor mood ebbs and flows from hope to fear. Good news can propel the market higher when combined with a rise in hope, but if fear is in command, good news has no effect, and vice versa. Thus the headlines read, "Market shrugs off bad news, etc." or "Market ignores latest blah blah results and falls 200 points on fear of...".
Something to think about.
All that would be true I suppose, if there were an actual market instead of this dead empty rigged casino.
Elliot wave (IMHO) is the worst or the worst in terms of technical anlysis bullshit. It's always amusing to watch advocates of it recast their previous predictions to make Elliot wave seem to work. "Well, I thought that was the up wave of the A-B-C pattern, but in fact it was the 3 downwave sub-pattern in the A1-B2 uptrend"
Agreed, it does have its shortcomings as a TA tool for trading, but it has also proven correct for predicting the big turns when everyone else is busy with linear extrapolation. I'm not saying it's perfect by any means, but the theory itself explains why the news only supports the trend when the collective mood matches the news, and why markets can fall on otherwise good news, and rise on bad.
Normalcy bias and the Semmelweis reflex.
Ya know, it's very interesting how paper Gold and Silver do seem to move pretty much with the market these days: only more pronounced. Just keep this in mind (dry powder perhaps) when the SHTF.
I wouldn't set up an arb just yet ;)
today on fast money mid day report, hear dennis gartman tell us where we can put our money now that gold is "tarnished" ha ha ha ha
Where in the f is the SEC on this Leisman rumor mill ... Oh, its ok because the rumor is coming from treasury.
they don't call him lies man for nothing.......he is about as bad as cramer.........
Degrees in English and journalism and he's Jewish. Not really qualified to be talking this shit anyway but why would that matter?
14:53 27Sep11 RTRS-GERMAN RULING COALITION SOURCE SAYS 11 DEPUTIES FROM MERKEL'S CDU VOTE AGAINST EFSF, 2 ABSTAIN IN TEST VOTE AHEAD OF THURSDAY
14:55 27Sep11 RTRS-GERMAN RULING COALITION SOURCE SAYS 2 DEPUTIES FROM FDP VOTED AGAINST EFSF IN TRIAL VOTE
Absolutely desperate individual equity selling into puke bucket ETFs that have been raised, of course. This is what it has come to for criminal syndicate Wall Street bankers.
More pink slips, please.
The poop hits the fan next week with US NFPs and then zero GDP growth. Its all one big cycle w market moving higher on rumors and then dropping on reality. GO windowdressing. I live in fantancy land.
monday we are right back to last thursday
Since Juncker effectively runs the EIB their denials are clearly more of the same shell game of rumor, leak, denial, announcement.
Liesman was just trying to boost his portfolio in the CNBC Portfolio Challenge. He now sold out all positions.
Liesman drips with fat bald slime.
Shoney's favorite customer = Steve Liesman
Liesman should apologize for false reporting
Or maybe go to jail for illegal ramping?
i like yuor idea better.
Isn't someone confusing EIB with ECB?
The former can't print; the latter can!
When did Rush Limbaugh move beyond tea to become a SPV shell-partner?
EIB - Excellence in Broadcasting network that Rush Limbaugh is on - CNBC is not excellence - they are a conduit for hopium.
How is this different then when ZH gets refuted on Doom and Gloom? I see it as a good game of Chess and Leisman has you in "Check" - your move ZH! Well played Leisman!
Hard to see how Leisman could have anyone in check, a quick trip to a mirror would reveal that nature had him in checkmate - a dopey fat bald pig - he gives new meaning to the word 'slob'.
It like daytime soap operas. You can go away for a month or two and when you return the plot line is still going-it's just a matter of who is getting or about to be fucked!
contrived bipolar news cycles = digital farming technique
Just remember - Steve Lies, man.
Steve Liesman is such a loathsome slimey little troll.
Surely the euro would be stronger if the 'problem' was sorted?
The EIB doesn't need to know about this plan yet, as it is still only at the stage of being thought up by its political masters. In principle, the EIB's political masters can order the EIB to do whatever they want it to do.
The ginormous obstacle however is that the EIB is an EU-wide institution, not a Eurozone instution. To make this plan happen, the non-Euro EU countries would have to support it. That includes Britain.
Good bloody luck with that.
"month end window dressing rally"
Maybe it is, then we still have 3 more days to go..
200-250 points * 3 can be another 600-750 DOW points to the upside..
The LiesMan Plan - from Macro Man
http://1.bp.blogspot.com/-cWpEWnV0CvQ/ToGjELGxNpI/AAAAAAAAAtA/HuEfulkqPq...
Analysing the latest battle plan Tuesday, September 27, 2011The problem is that millions of shares were purchased at the very bottom by the TPTB. Was this top notch trading? No, this was done with a nod from the Fed. Now these guys are sitting with billions in paper profits, the recent lows haven't even made a dent in what was purchased 3 years ago. So, if they borrow a little money at 0% to fuel the HFT machines it's just leverage. They spend money to drive stocks trading today up but don't forget all the shares go up at the same time including the billions purchased at the bottom. The low volume of the last year or so is the perfect environment for them to operate in. They drive the price of the ten stocks traded today up, and it lifts the portfolio of one thousand stocks they bought at the bottom. The market won't go down unless something really and truly does break, or it has gone sideways long enough for them to decide its time to unload. If they are doing that right now they will be using every trick in the book to hide it. Maybe someone like Tyler can figure out how to reveal that they are selling if indeed they are.
amusing to listen the comments from the TV anchors at CNBC Europe: " who has started this stupid rumor of leveraged EFSF", "it has no chance" etcc
amusing to listen the comments from the TV anchors at CNBC Europe: " who has started this stupid rumor of leveraged EFSF", "it has no chance" etcc
Merkel has called for a reduction in sovereignty for europe....
http://germanywatch.blogspot.com/2011/09/merkel-nations-must-give-up-sovereignty.html