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"Hours" Downgraded To "Days" - Greek Deal No Longer "Any Hour Now"
The idiot market soared earlier on news that a Grek deal was coming "in hours" courtesy of some French leak. Now we get reality.
- IIF SEES `VARIOUS ELEMENTS' OF PACKAGE COMING TOGETHER IN DAYS
- IIF SAYS IT EXPECTS GREEK DEAL NEXT WEEK
Like we said. Idiot market.
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Greek deal coming in daze..
Awwww, I was really "Hoping" for "change" in this "Transitory" greek defalt. I guess my "hopes" will be "Vaporized"
Joe Wiesenthal of BI, a piker tabloid-esque writer, but a wannabe Andrew Ross-Sorkin Obama/Bernanke Propaganda Bundler, said that the EU has agreed on a plan that will completely resolve all issues, and foster a stronger, more united, more economically robust union, with Germany making the announcement in 37 seconds.
The Greek deal will come.. in the end.
And you can take that to the bank.
Hundreds upgraded to thousands in the coming in days. That's Molotov cocktails being thrown at government employees and a parliament building going up in flames.
@ GREEK Deal Comin'
How about in a Month Of Sundays ...
Fox reported the "Grek" deal was imminent.
luckely...
Belgium is different...
France is different...
Portugal is different...
Spain is different...
America is different...
Italy is different...
England is different...
Holland is different...
China is different...
....
......
it is so difficult when you are different. nobody understands. facebook is different - and goldman promises that. no more shitty deals, ok?
but - goldman does seem to be different. they rule. nobody goes to jail.
Goldman knows that if you feed the algos a steady diet of electron junk food from the 'owned' news feeds they will be happy, the markets will levitate and their flunky in the White House will have another four years to serve them the way he did in the first four. This market is based on fantasy but DON'T bet against it yet.
There are so many puns there, I don't know where to start (so I demure).
I think any 'Greek Deal' that arrives (assuming Greece isn't forced to exit, nor that Germany sees the light and knows that only a much smaller, more tightly controlled EU is feasible) will be some jerry-rigged solution that neither resolves critical flaws in the concept and execution of a single currency Eurozone, nor will it clarify how Spain or Italy will be dealt with.
It's one thing to either print enough euros to pay Greek sovereign debt creditors (in fiat that is rapidly diminishing in purchasing power) or force them to take a haircut. It's quite another to do the same with respect to Spain or Italy - especially when doing so guarantees that they'll have to revisit this very same problem again and again and again...
Fuck Greece! It is time to face the consequences of decades of decadent and stupid over consumption! This goes for all of Europe and the U.S. as well.
The MSM ran a great piece on MW today (I know, hard to believe right?)
http://www.marketwatch.com/story/ten-questions-about-the-european-crisis...
Up above, I meant that "I demur" and not that I "demure.").
I'm a red blooded, American male, damnit. I never demure and I don't plan on it. Some typos are very dangerous.
*Not that there's anything wrong with males who do demure...errr...what have you.
Hike up yur pantyhose and get back to work.. +1
'jerry-rigged' is insulting to germans. cute. i guess it will be jerry-rigged. unless bennie-rigger has any say in it. (on the behalf of jamie, lloyd and warren)
The end of kicking the can down the road is dead ahead.
I took Obama's Check for Day one troop withdrawl to the bank...it bounced.
I'll wait for cash on this one.
Make that: "You'll get it in the end".
As will anyone putting their faith in politicians propping up the status quo.
The Greek Deal...! Is this another Trojan Horse?
Spock: "Admiral, if we go "by the book". like Lieutenant Saavik, hours could seem like days."
http://www.imdb.com/character/ch0001439/quotes
And yet the market is still up even though it rallied on an emminent announcement. Now it'll be next week. One of these weeks the banks will be closed on Monday and a new currency will be announced. Surprise Surprise. just like in Argentina, the Greeks will get back a devalued currency when they finally have access to thier funds. This has to be the reason they keep stalling
I officially and hereby coin the term "Greek Deal" as being something that is promised but never delivered upon.
Use it in your daily life but reference me please.
Ok, but will we have to pay you royalties?
Karate Kid Lesson http://youtu.be/3PycZtfns_U Wax on Wax off
The Great Pumpkin.. Bitchez!!
I'm so much happier when the market goes down....
I have the same problem, we are fatalist in our nature.
http://theimperatore.blogspot.com
if you're not fatalistic...you just aren't paying attention.
fatalism is the new realism...and America HATES realism....Just look at Hollywood films.
Very well said my friend.
http://theimperatore.blogspot.com
@alien-IQ "Just look at Hollywood films" - do I have to?
why are you picking on hollywood films? i love them. almost as much as reality tv? where would i be without snookin and kardashians? america DEFINED 'reality' via the media. i'm not sure where you live, but if i havent seen you on tv - i'm not sure are real and actually exist. you might want to do a 'reality check' on yourself. or maybe buffy the vampire. have you checked in a mirror lately? :)
I don't want to be that way either, but when the market going up isn't real, there's just something evil about that. Only a complete reset is going to make things better. I hope.
We all know the ramp up on rumor , problem is when the rumor is revealed , there's usually no ramp down.
If that was true, the market would go straight up every single day.
As it is, over the last 10 years,
well, not so much.
I'm - I'm focusing on last 3 months
Leaks, rumors, gossip and inside trading. 'Markets' at their finest.
Let's all pretend that the earlier 'leak' 'caused' the 'market' to levitate.
Next week. Next week. Next week. Next week. Next week...
*which* &&next week&&?
... for which I will gladly pay you on Tuesday - your pal, Wimpy
Luvs me some Au and Ag, and Pb.
That list is not complete without a little Cu and Ni.
You forgot Cordite.....!
they are going to keep milking this rumor until we either get the DOW to 36K or Greece finally defaults.
either way you look at it...they are going to keep ramping this market on vapor volume and bad news.
pathetic.
IT
IS
ALL
PRICED
IN
THERE WILL BE NO BAD NEWS EVER, EVER, EVER THAT IS NOT PRICED IN.
BULLISH!!!!!!!!!!!
move the "I" two spaces to the right, then add a "T".
lol +1
People will always believe exactly what they want to believe. The problem is never finding or altering info to confirm their bias, but rather the sudden stop at the bottom of the cliff dive.
Ah yes...to seek disconfirming evidence. A challenge to those with large walls of ignorance and arrogance.
ignorance is understandable - arrogance is not
Or next month...
Can someone tell me what difference this deal will make anyway??? Banks are already taking 70% writedowns or more... default HAS already happened !!! And it has been 2 weeks the deal is imminent !!! Is the market that stupid or is the ECB just lifting up every offer it can get its hands on in the secondary market??? This market is totally broken, am moving to gold, stoping to trade these totally manipulated equity markets...
honestly, it seems like most would rather just pretend and get on board with the fake reality created by the banker cabal. perhaps they don't believe there is a better way, or perhaps they don't care... because if enough people just keep pretending, and go along with the show... then everything will be just fine.... right?
Bondholders that also have CDS say Greek default coming in days...
Yeah but the ISDA will call it a voluntary 100% default and we'll all keep pretending that there are laws governing this game of Calvinball.
Thats fine until the CDSs are exercised. Then we're probably going to see who's naked.
Say what? Yet another meaningless rumor to help keep the system duct taped together for another day? I guess I just didn't see that one coming...
Euro 120 next stop, quite ominous it couldn't reach 132.
This is fantastic.
Greek stock market is up 17% YTD (LMAO) on the hope of what.
Even at 72% PSI haircut (rumor), total greek debt is cut about 39%. In the absence of Troika and ECB taking losses, Greek debt is unstainable and Greece will need a 3rd bailout package.
At 72% RIP the whole Greek Pension system.....but hey great that the ECB stays whole.
http://www.zerohedge.com/news/here-how-50-greek-haircut-actually-just-28
Greek stock market up 17%? I never even thought to look. It's good to know Hopium is exported all over the world and knows no borders.
Hopium is meant for export. Let any country that attempts to resist its import beware.
i get it.
since the market realizes the Greeks really have no debt (that they will ever pay) their markets are going gangbusters due to this huge surge in no-Debt/GDP.
i think this new (no-real-debt-paid-in-reality) analysis will sweep the world into a new prosperity.
don't need to print, just borrow and never pay.
/cheers/
All Hail Robotrader!
buy netflix and sears!
There's one helluva "cushion" being built in stock prices. GroundHog Day LIVES!
Priceless!!!...Nick, Nick...Can you BELIEVE they BOUGHT our SH*T again?!!! - Yez, AnGEEELA da Market, iz soo stupid....I will start zee rumor dat Greeks are really Aliens & can shit Gold & Silver - let's SEE what happens next!
hOPA!!!
This week's action is sickening. Or...this year's action rather. Such a freaking joke.
Tyler any guess why USD/JPY is surging?
BoJ intervention (printing). I believe Tyler addressed this last week in a post.
they won't intervene till we reach 75.30 or below
i am waiting exatly for that, that's why was suprised a 25 pips up move.
as soon as we fall below 76, than we can place bets for intervention
Why would the funds agree now - it's giving away time value for free...
This is bullish. They used the word "deal" again. /sarc.
"The idiot market soared earlier on news.."
There's no accounting for genius
Did the "news" come in by Rothchild carrier pigeon (ie. either Reuters or Assoc Press) ..he loves spinning/goosing/lying to the market to turn a few quid
..the Rothchilds have been playing the same rumour-mill/market-rigging game for Centuries, owning all the news channels feeding the market is a ruse as old as the hills/Rothchilds
Sad to see the family business losing their front-running stock exchange computers, probably got Google already in place on our laptops.. bless
Would be interesting to do a micro analysis for today alone and see just how much dumb money they sucked into the market only to be fleeced again later-on today, tomorrow or next week.
Every relevant data point is going the opposite direction.
Het Zero Govt.
Im with you on your comment,and green arrowed you.
But you have to put a "S" in Rothschild. (Rothschilds) plural.
Hey I did not pick the spelling ,the King of hte "Rothschilds" did.
Redshield,means something to them.Thats where the Rothschild thingy come from.
Hey everybody i just heard that a Greek deal was imminent. Oh wait ... that headline was from 6 months ago. How longs do haircuts take in Europe?
depends on how much hair you have and whether you want a shag, a bob, or a buzzcut. at the moment - looks like the buzzcut isn't an option.
Blankfein can't afford to lose anymore hair ...think Dimon wears a wig
still even without European CDS's yet to slice Goldman and Morgans balance sheets to shreds these two clowns are already doing a mighty fine job of giving their firms business a Grade 1 haircut
we have known for quite some time there is no reversal at this point. it's full speed ahead until the wheels fall off. it's pretty much their only option.
Market is full of idiots nowadays. Have all the smart people evaporated like MF Global client funds?
this deal has been coming for years...wha a fucking joke....someone who leaked the info should be charged with mkt manipulation
Jeez, this forum was deader than a hammer all day but evidently all it takes is for some bad news (for stocks) to perk everyone up.
Confirmation that the rumor was nothing more than a lie cannot be viewed as bad news.
because it might have been true? can you prove the rumor is a lie? :)
so - there is no bad news - because the bad news is probably not true and the rumor is a lie. oops, which rumor or lie was that? it has to be good. i'm confused. anyway - i'm pretty sure there is lots of fun ahead, and everything is going to be fine. better than fine, better than ever.
EUR/USD support at 1.3160 needs to break. Will take a while.
48 Hours
1 Feb
Euro rises to session high on Greek debt report
Get ready for a Greek spring surprise
Greece Hours Away From a Deal With Creditors: Finance Ministry Official (Story Developing)
Euro Lifted by Factory Data, Greek Debt Hopes
Greece, IMF expect debt deals soon
European shares hit six-month high on Greek hopes
Glance-Britain's FTSE resumes rally on China data, Greek hopes
European shares rise on Greece optimism
IMF presses Greece on wages, says debt deal soon
31 Jan
US STOCKS-Wall Street dips on weak economic data
Greece Nears Debt Deal, But Crisis Far From Over
Greek debt accord requires c.bank involvement - sources
UPDATE 2-Greece must pledge tough reforms for debt swap deal
GLOBAL MARKETS-US stocks slip, oil falters as Greek hopes ebb
Greece says investor losses from debt swap may top 70 pct
European shares rise on Greek debt deal optimism
GLOBAL MARKETS-Stocks, oil gain on Greek debt deal hopes
CANADA STOCKS-TSX may open higher on Greek optimism
EMERGING MARKETS-Stocks hit 5-mth high on Greece hopes, lira up
UPDATE 5-Oil above $112 on supply concerns, Greek hopes
INSTANT VIEW 1-Greek retail sales drop 8.9 pct y/y in November
Global Markets Update: European Shares Higher on Hope of Greek Debt Deal
Brent crude up $1 on Greek debt deal hopes
GLOBAL MARKETS-Euro, shares gain as Greek debt fears recede
OECD's Padoan says Greece solution up in air: report
The Greeks Have Not Delivered That's a Fact: MEP
European shares to bounce back on Greece deal hopes
Asian shares, euro recover on Greek debt hope, Portugal weighs
Europe Factors-Shares seen rebounding as Greece nears deal
This will continue until payments are due in March. Just kicking the Can until D-Day Bitchez.
come March, the line will be .. "checks' in the mail" followed by "internet wasn't working" followed by "power outage" followed by "computers died"..
And you guys still stuck with the anti stolper trade by shorting the EURUSD against him @ 1.3095 :-)
This is going to be a big loser for the shorts.
wonder when the real squeeze begins :-)
1.3280-1.34 is the top
it has no where else to go
Belgium fall in ressesion again, other contries will follow, austerity will be removed. take a guess what will be next ... but euro is 1.25-.132 range
would rather have owned than BAC than gold this past month -- crazy times
can i say that on ZH ? not p/c
BAC trades like a penny stock - up/down 3 or 4 %. does that make sense? price discover? what changed? really - penny stock it is.
Priced in, nothing to see here, back to levitating higher... What a joke!
Quick, somebody mention the "golden cross"
This melt up has been more of a golden shower on the Bears
Hey-this is great, we get the ramp up on the rumor +16-17 on the S&P, only give back 1 or 2 after it gets debunked. Rinse, repeat. At this rate S&P 1800 by default day! Rinse repeat
/snark
I think they are pushing it up so when the default comes and the market crashes it wont look so bad. In other words a 1000 point fall from 12800 is only 11800. If they let the market move down naturally now it would look really bad when it finally crashes
I think they are pushing it up so when the default comes and the market crashes it wont look so bad. In other words a 1000 point fall from 12800 is only 11800. If they let the market move down naturally now it would look really bad when it finally crashes
Swine market.....
why hate it, its the gift that keeps on giving ;)
1 thing is certain..market will rally on the "deal"..don't short this market
Join the Bear's Bleachers untill your name is called...
buy the rumor sell the news??????
there is not going to be any news there cant be a deal...
1. whoever is presented as the negotiator for the psi at most figures estimated is only respresenting 20% of the debt holders.
2. why would someone take a voluntary haircut of 80% when they have CDS's to protect default
3. If there was going to be a deal it would have been done already....they have been going on and on about a deal but real fact is there isnt one and they are miles apart
4. read the recent press releases...same old shit ...eurzone equities and currency gets pounded release some bs rumor the deal is almost done....then refuted...the one i like the best is that Merkel is taking to china...how many times has this come out????
this is just some of the information that has be presented for months by ZH and the eurozone themselves....
makes so much sense..too bad logic, reason, and math don't = $$$
Market is up because of Facebook IPO announcement
Again, the longer it takes, the better for the markets. Too much anglosaxon HF hammering on Europe, unsuccessfuly, even if orchestrated by Martin Wolf FT. Markets heading north til the last l/s HF has closed his position....and will be again behind the curve. QED.
Bill Gross just said on the news that he would give Bernanke a 9 out of 10 and that once interest rates hit zero thats as low as they can possibly go. So I guess he is wrong and clueless.
Nothing idiotic about this equity market at all. Markets have been going up and down for the last 500 years for no reason whatsoever. Nothing special about this up day at all.
I would love to S&P at 1500 by year end. Would be fantastic!! Wealth effect bitches!!
my co-worker's step-aunt makes $82 hourly on the internet. She has been laid off for 6 months but last month her paycheck was $8731 just working on the internet for a few hours. Read more here... LazyCash9.com
AND BANNED
Boing, Boing, Boing, follow the bouncing-ball children......
my co-worker's step-aunt makes $82 hourly on the internet. She has been laid off for 6 months but last month her paycheck was $8731 just working on the internet for a few hours. Read more here... LazyCash9.com
Geithner - stop spamming our message board you bird-nosed fuck.
he (geithner) is just trying to figure out how he's going to keep paying for the place in larchmont. give a guy a break. he means well and he's trying to help the rest of us. rumor was he was going to work as an advisor to the income tax software people. this looks more lucrative.
my co-worker's step-aunt makes $82 hourly on the internet. She has been laid off for 6 months but last month her paycheck was $8731 just working on the internet for a few hours. Read more here... LazyCash9.com
my co-worker's step-aunt makes $82 hourly on the internet. She has been laid off for 6 months but last month her paycheck was $8731 just working on the internet for a few hours. Read more here... LazyCash9.com
Now this is Entertainment at it's finest!
If u grab the bar graph just at the last 3 red bars, youll make it look even more dramatic!
my co-worker's step-aunt makes $82 hourly on the internet. She has been laid off for 6 months but last month her paycheck was $8731 just working on the internet for a few hours. Read more here... LazyCash9.com
Get off the site..
my co-worker's step-aunt makes $82 hourly on the internet, (XHAMSTER) She has been laid for 6 months but last month her paycheck was $8731 just working on the internet for a few hours. Read more here... LazyCash9.com
is she a prostitute?
Can you say BULLSHIT, Greece going down on its knees like a 20 dollar hooker on a Sat night.
Sure Battle,
Not if you have a printing press & a rigged fucking market
I only have couple of hunderd shares shorted, am just watching!
Take the Red Pill, and see how deep the racket hole goes.
Red Pill, give me the Red Pill!!!!!
$20 dollar dates. think about mcgreevey, spitzer, DSK and a bunch of others. would have been a lot better off.
So simple, even a caveman...
l-i-q-u-i-d-i-t-y
Cash talks, bullshit walks.
good old uncle warren buffett owns the cave men, and the talking gecko. shows just how STUPID the american adult public is. i buy insurance because creatures that do not exist tell me to? at no point in time any mention of actual benefits, costs, positives. buy it, because if i don't i'm dumber than either gecko or caveman. it's insulting, and derogatory and aggresive. but - warren ain't broke yet. so, most people are afraid to be dumber. it's over guys, it's just over.
Lets just say Grease instead of Greece from now on.
Nobody this side of the Atlantic seems to give a shit anymore anyways.
Idiot market? The "market" speculated that this news (or non-news, as the case may be) would cause stocks to rise. It did. The "idiots" made a handsome profit. And profit is what their job is about; not trying to make the market be as good a mirror as possible of the underlying fundamentals.
Silly me, I thought the market was supposed to reflect the underlying fundamentals of the economy.
Ahhh, buy worthless paper and trade worthless paper back at a later date for more than you paid. IT'S SO SIMPLE!!! Why can't we all do it???
The deal will be announced right after the 14.5 billion Euro bond payment is missed on March 20th, 2012.
if eur.usd break1.315 we will be rt back at 1.3080
Skid the Grece.
Greek parliament has to vote overall austerity package in new deal before feb 13. Thats the Euro group deadline. SO expect this to happen by then. Greek PM has made that commitment.
I really don't think the market gives a shit about this debt deal. "Rumor refuted, euro tumbesl!" Not really. EUR/USD still up over 1% off its morning lows.
Even the market finally realizing that Portugal's yields are blowing out (which took long enough, this latest move started over two weeks ago) can't take it lower.
Right now, USD is the paper the market wipes its ass with. Little more upside, then if things play out like zhedge thinks it will viz. Feb LTRO (which I agree with), it might finally be time to put those EUR shorts back on.
You can't believe what most of us here do about the current state of the monetary system and be surprised to see markets act like this.
To me, the intriguing action today is underperformance of CAD. Might be a great hedge there for people who are concerned about a pullback and are long the market going long USD/CAD in size. Tight r/r if you're wrong, and if the truly brilliant analysis of the Canadian housing market that Tyler has presented here many times is correct and it starts to roll over, or the Bank of Canada decides to surprise by signaling more accommodation in the near future, this should outperform even if other USD x's are shit.
Ps..That chart looks like the silver chart when silver touches $34.00
Pss....Fuck you little timmy.
See ya in hell,and I'm gonna beat you up.
LucyFur will let me I know it..........
I cannot stand that sleaze-bag of a Greek finance minister with his mantra-like statement that they are coming to a "very quick finish"...I ain't holding my breath anymore (not that I ever did).
Does it make any sense to bailout Greece at the top of the Hubbert Curve from a business perspective?
Many things that made business sense on the upslope of the Hubbert Curve may not make any business sense at all on the peak of the curve, or worse yet, on the downslope of the curve.
Observations from an engineer | ZeroHedge
"The Greek deal will get here when it does and not a minute later!"
This is the tantric bailout, forever, and yet never, coming.
This story further drives home the point how bankers are dealthy afraid of default.
It's amazing (and humorous) the schenanigans bankers are coming up with to delay the inevitable. "Wel'll have a deal worked out any day now, we promise ...this time."
Default is a 4-letter word to bankers, and sovereign default just plain unthinkable.
But it's exactly what needs to happen. I'm no fan of Greek irresponsiblity, but it's time for Greece to default, officially. Watch all that debt paper banks have made so much money buying and selling turn to toilet paper.
Sure, Greece would be kicked out of the EU for not playing the banker's game anymore.
No problem, EU is doomed anyway.