France Refutes That "Blue Horseshoe Loves €2 Trillion Bailout Fund"

Tyler Durden's picture

Complete, and total, idiocy

  • DJ REPORT EFSF FIREPOWER TO REACH EUR2T "TOTALLY WRONG"-SOURCE
  • DJ EU Source: No EFSF Deal Til Friday, EUR2T Number 'Simplistic'

Beyond words.

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knight99's picture

this whole this is fking bullshit.

rajat_bhatia's picture

Check this video out -- Who reads the papers? - Yes, Prime Minister - BBC comedy http://www.youtube.com/watch?v=DGscoaUWW2M&feature=share 

dwdollar's picture

And the market still believes AFTER it's been completely refuted for the 20th time...

Still WAY too many suckers in this market.

Hard1's picture

Tyler, what is the source??....I have not been able to verify the statement from DJ

Idiot Savant's picture

I wonder what Todd Martin will say about these unregulated reports.

TruthInSunshine's picture

Tomorrow's headline of The Guardian will read:

Poland Invades Germany

macholatte's picture

 

LONDON -(Dow Jones)- European officials are still debating the size of the bailout fund for the euro zone and reports that an agreement has been reached to leverage it to EUR2 trillion are "totally wrong," an official familiar with the negotiations said.

European officials are working toward resolving the euro zone crisis and will be meeting over the weekend. A report in the Guardian newspaper suggested the EUR440 billion European Financial Stability Facility could be levered up to increase its firepower and the euro surged but EU officials have dismissed the report.

"Leveraging the EFSF is still being debated," a person with direct knowledge of the discussions said. "We may have a decision on the size by the summit or just a statement that firepower must be increased. But there no talk about an amount around EUR2 trillion. Such reports of an agreement between France and Germany are totally wrong."

UPDATE: EU Source: No EFSF Deal Til Friday, EUR2 Trillion Number 'Simplistic'

http://online.wsj.com/article/BT-CO-20111018-714461.html

macholatte's picture

so how many weeks has this been going on......

 

 

3:18 PM NYSE Time Zone - Europe is Saved!

4:47 PM NYSE Time Zone - That Report Was Complete Bullshit!

 

 

Hard1's picture

Thanks mate, could not confirm the news after it was posted.

LawsofPhysics's picture

No shit.  Tyler making stuff up?  Say it isn't so.

spartan117's picture

It says "DJ" in the headlines, so I'm sure it's Dow Jones newswire. 

CPL's picture

Don't educate him.  Remember it's impossible to fix stupid Spartan.

slaughterer's picture

Who is te fucking "SOURCE"?  Sarko's mistress?  This is beyond absurd.  The EU has officially delegiitimized itself today.  

SheepDog-One's picture

Who can believe anything these pack of clowns say? All pure BS!

DeadFred's picture

The paranoid part of me <99%+> asks why is this from the Guardian??? I thought FT was the designated water carrier. Something is amiss here!

sarc

Nascent_Variable's picture

EDIT:  It's on the DJ newswire

SofaPapa's picture

Today? Every single day for the past year is more like it.

beartoe's picture

now...if its in Euros...how many zeros is that?

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

I think a bit more than most think

 

From wiki

 


Long scale is the English translation of the French term échelle longue. It refers to a system of large-number names in which every new term greater than millionis 1,000,000 times the previous term: billion means a million millions (1012), trillion means a million billions (1018), and so on.[1][2]
Short scale is the English translation of the French term échelle courte. It refers to a system of large-number names in which every new term greater than million is 1,000 times the previous term: billion means a thousand millions (109), trillion means a thousand billions (1012), and so on.[1][2]

Mike2756's picture

We are in an alternate universe, lol.

TruthInSunshine's picture

The current global economic PONZI scam (born of fractional reserve banking fraud), which now depends heavily on rumor & innuendo from media "sources" to perpetuate its very day-to-day existence, is currently at one of the historical, watershed 'make it' or 'break it' moment in time (to those of us with even basic arithmetic skills and/or common sense, I am confident that we realize which ending we're certain to see):

http://static.flickr.com/3608/3508581286_c29888b4d8.jpg

The Axe's picture

http://www.secform4.com/significant-buys.htm   first day that I can remember that not ONE insider bot stock ZERO

Seer's picture

There were NEVER two paths, only ONE- the "break it" one.  Ponzis cannot "correct," lest they wouldn't be Ponzis.

It's like the picture.  Note how there's NO food around.  What else is there to eat?  Pretty logical outcome.  It's one that you could apply the the entire grow-or-die paradigm that we've been operating under for, well, a, thousands of years.

SheepDog-One's picture

Yea, from now on lets run up a wild rumor 1/2 hour before market close to ramp it, then deny the rumor after market close, so that we can run up the same rumor tomorrow for another stock ramp.

This is well beyond retarded.

css1971's picture

Hey, if I could make the bots go up and down just by posting rumours I would too. Easy money if you can do it....... Lets see...

 

I heard they were going to say screw inflation and just print 4 trillion new Euros.

Warren Zevon's picture

Er; Um; F**king SOURCES PLEASE?

Warren Zevon's picture

Loosing Credibility by the second.....

 

FUCKING  SOURCES??????

 

CPL's picture

DJ is the DOW JONES NEWSWIRE....FUCKING PAY FOR A GODDAMN NEWS SERVICE WITH YOUR TRADE ACCOUNT.  Or wait the delay and wait for the reutgers newswire tonight.

 

Fucks sake.

johngaltfla's picture

Freaking hilarious. All to initiate a short squeeze to cover the turd AAPL laid. F'in hilarious.

achmachat's picture

that was strangely fast...

(pre-planned and prepared?)

Nascent_Variable's picture

I think it's a natural function of the Benny Hill-esque manner in which the EU conducts business.

Irish66's picture

Before market close, fire that guy

hedgeless_horseman's picture

How can one not laugh?  Un-fucking-believeable.

Divided States of America's picture

These fuckers been doing this the past few weeks...of course any negative releases are for after the markets closed and promptly ignored.

sqz's picture

This is exactly right. The Financial Times (Alphaville) even did an article about it, looking at news release timings and market performance that day, and, of course, decided to call it the "FT Effect". Though, to be fair, most of the rumors have been caused by them.

http://ftalphaville.ft.com/blog/2011/10/12/700706/is-there-such-a-thing-...

Every single time it's some "anonymous" source related to an official source or simply some no-name official who has nothing to do with anything. But, of course, the market does not care. Quite a few people think its algos trading off the back of sentiment changes on the news wires or adding to any volume in that direction IF the sentiment news change is there.

What's even stranger is that the market keeps reacting off stories in Anglo news sources who have basically no stake in Eurozone discussions but are high profile, mainly due to English language dominance.

Whereas you can expect if anything concrete that changed anything at all were announced, it would at minimum be quoting high profile named officials and be broadcast from the rooftops to German and French newswires.

Black Forest's picture

EUR 2T are totally wrong. It must be 6T.

Divided States of America's picture

Yeah according to them frogs, 2T aint enough....RIBBIT!

snakeboat's picture

Shimman, it is just a key on a keyboard after all.  Just keep moving the finger to the right until...

centerline's picture

Who's on first (base)?

schismjism's picture

the source code is corrupted...

kaa1016's picture

This is complete bullshit. It will continue until Greece "officially" defaults...

ZeroPower's picture

Up 20 pts on rumor... down about 7 after the DJ report.

Hmmmmm

BobPaulson's picture

They CAN NOT do anything but spin and blow smoke until an external club hits them over the head.

Dick Darlington's picture

Complete, and total, idiocy

Well, it's from deathz... err eurozone so DUH!

Unelected dictator Barroso must be proud of this latest uber confidence lifting twilightzone episode. After all, he said THE ONLY problem in Europe is lack of CONfidence.

 

StychoKiller's picture

I have absolute confidence that reality, exponential functions and mathematics WILL have the final say! :>(