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FT Rumormill: Zero For Three: "EU Says No Concrete Bank Recapitalization Plan Right Now"
Remember when yesterday we ridiculed the FT's third attempt at resuscitating the euro and the f(l)ailing continent (attempts one and two crashed and burned previously) and the stock market's lemming-like pursuit of this innuendo once again? Looks like we were correct. According to flashing Bloomberg headlines, "EU Says No Concrete Bank Recapitalization Plan Right Now" and continues: "EU Economic and Monetary Commissioner Olli Rehn “doesn’t speak of a concrete plan in hand,” his spokesman, Amadeu Altafaj, told reporters in Brussels today. "He speaks of an initiative, of discussions in progress and he pleads for a European approach." In other words, when the IMF rumor wears out in a few minutes, expect Liesman to be true to his name some time around EOD when markets are desperate for a lie. Any lie.
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And this surprises whom?
Tell me lies, tell me sweet little lies...
tell me, tell me lies
It is surprising allot of idiot gold bugs that think the ECB is as stupid as the Fed. The ECB does not want to print.
If the Fed wants its Euro primary dealers to live, then they must provide the dollars.
http://freegoldobserver.blogspot.com/
http://www.youtube.com/watch?v=czR2bHg_4c8
Damn, that caused a wave of nostalgia to wash over me. God, I loved the 80s. Maybe they really were better than now. Maybe I just wasn't so cynical & jaded back then.
http://youtu.be/kyE4CLM0QIA
DO NOT FRET. GO LONG EVERYTHING.
The Financial Times shall publish an article at 3:45 pm est today, in which it will be 'rumored' (strongly) that The African National Congress together with Haiti, North Korea and Myanmar are establishing a Eurozone Support Mechanism, and will pledge 16.4 trillion EUR to recapitalize both European Banks and European Member States.
This new alliance will even go so far as to offer Germany a "buy-out" from the EU, if Germany so chooses.
Not so fast! It looks like Belarus, Albania and the Dominican Republic going to form a new currency union to rival the Euro. The new currency, called the "B.A.D" will be printed on eco-friendly bathroom tissue and convertible at a 1:1 rate with Euros.
You want lies. Here's a couple picked up just scanning headlines.
Kenynsian ideals will create a utopia on earth like no other.
The car you just bought is an investment for the future.
Savings are unneccessary but proper budgeting is necessary. (big WTF when this one flew by)
The discovery of 110 million barrels of oil off the coast of Brazil will solve the energy crisis.
Core inflation is under 2%.
How to pick a healthy fast food meal.
Corn and Wheat production are at an all time high.
The US is disinterested in being involved in Chinese military processes in the Pacific theatre.
The only people protesting in the Occupation are hippies.
Bernankes cares for the little people and small business.
Enough lies out there to make a Jesus puke all over himself for the shit people are doing in his name.
"The only people protesting in the Occupation are hippies"
They still exist, dam what am I doing at work!!!!!
Doesn't matter cause on the financial channels the reversal yesterday is being cast as an oversold panicked market that has found the bottom of a trading range.
The fact that you have one rumour followed by a counter rumour in a matter of hours indicates that TPTB know the real story. The eleven year old patient is on life support and unlikely to recover.
So true. The FT and Liesman are literally guilty of fraud.
They are nothing more than propaganda outlets for the Brussels Politburo and their buddies whose banks have their necks stuck way out, ready to get chopped off.
If CNBC and the FT had any editorial credibility at all, they would publicly censure Liesman and his collaborators at the FT...
Credibility! Please. Credibility was the first casualty of 08'. Well, maybe the second after truth.
And HOPE
And Change
And Audacity
the only thing left is Outrage
>If CNBC and the FT had any editorial credibility at all
Lol, thats a big 'IF'
European equity complex IGNORING this and continues to levitate. Hahahaa, this is getting more and more absurd every day that passes.
In real life, data from Europe was horrible. Service PMI's dropping like dead fly's. Spain @ 44,8 Italy @ 45,8 and Germany @ 49,7.
But who cares when there's rumors of rumors flying around...
European Equity markets did the same when the latest rumors vere wxposed as lies, low volume up days are difficult to stop.
hey, careful, the media only plays the game learned from their banking buddies. The rumor is the speculative derivative play on the information asset.
Well than, is there a Rumor CDS/CDO?
OT - What's up @ fxstreet.com? I have not been able to access today or yesterday.
Anybody tried?
Got through now, but not before....on a similar not Barclays sharesite seemed to be down yesterday for about 1/2 and hour - but again could be a local isp / dns problem
I heard that Tonga was going to bailout the EU, and Fiji was going to recapitalise the US!
You mean thats not true?
Cwazy Wabbit. I told ja no glue sniffing before breakfast.
On a related note, Ew Ewian is on the boob tube today;)
I was obviously watching the wrong channel whilst I had my lunch. CNBC is streaming IMF's Borges stating Eurpoean banks need €100-200 billion to recapitalise and that Italian and Spanish banks are solvent!
Who is this muppet? Fuck off and die you creep.
But heyho, the markets will rise 2% on this shit.
If it was that easy, why not give the banks €200 billion, no give them €400 billion. So they can have their bonuses too. Fuck this shit.
Drop these fuckers now. I'm really pissed at all this. But I know I'm not alone here at ZH.
Its times like this you wish Reggie Middleton was a Super Hero....Super Analysis Man - who flies in and then proceeds to publically humilaite them with his FACTS ray.
Then he caps the mofo's!!
Facts are overrated. Meanwhile, the US Administration has announced that a new source of Hopium has been found.
DJIA up 5,000 points.
I think you are right about the muppets. Sesame Street would do a better job of following this than CNBC. Mr. Hooper would have to file bankruptcy because of a subprime loan he took out on the store and Oscar would strategically default on the mortgage for his trashcan. In the end the taxpayers would get flipped the big bird.
If this is the case, why aren't the futures down 200 points. That was a ridiculous rally for 30 min.
EU to market: "Made ya look!"
So the market is going to go down. I mean up, errr, run for the sidelines bitchez!
Does anybody really believe it will take "only" $266 billion euro to recapitalize the banks?
Yes, of course. Until February comes around, and they announce 412bn Euro is needed to recapitalize the banks.
Of course, by then the braindead majority population has completely forgotten about the previous bailout(s).
A rumor a day keeps the creditors at bay.
now you see it now you don't...the bank recap...is like the moon on a cloudy night. Maybe the cow'll jump over the moon in the meantime. But will we see it?
its a high frquency cow, so you'll only have 0.23ms to spot it
Hmmm, that's interesting...CNBS is not covering this. How odd...
It's like Lucy convincing Charlie Brown to try to kick the football one more time. It's a classic routine that never fails entertain the masses.
Dexia has a large short position in gold and this is were the bid in gold is coming from today!!!
Like I said yesterday. The artilce was just a plant to cover a massive Fed injection. If you are teling me that every trader somehow had the FT site up on a monitor, refreshed the page at the same time, read the entire article in less than a second, and then bought nearly every single asset class at the exact same time. Well then I might believe the FT article was the cause.
I think we know better. Where do traders get over $1 trillion to pump into equities in less than an hour. The market already jumped over 200 points in the time it would take to transfer funds. The market jumped almost 100 points the exact second the FT article was posted.
Testing my new avatar.
The new weekly market trading-news cycle algorithm; on touching support level, generate rumour, hit resistance, deny rumour, recycle.
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