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Latest China Bailout Rumor Crumbles As EFSF Pulls Bond Due To "Market Conditions", France-Bund Spread At Record

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Wed, 11/02/2011 - 07:26 | 1836049 Irish66
Irish66's picture

No more Twist

Wed, 11/02/2011 - 07:30 | 1836056 sunnydays
sunnydays's picture

They are going to have to give up Pulling an imaginary rabbit out a Hat now!   They can't just run on rumors over and over again as this proves all the rumors were lies. 

I would say GAME OVER!

Got Metals?

Wed, 11/02/2011 - 07:36 | 1836063 Quintus
Quintus's picture

Not just the rabbit, the hat is imaginary too.

Wed, 11/02/2011 - 07:31 | 1836058 myne
myne's picture

Pfft. This is the #1 policy tool of all governments and agencies globally:


Wed, 11/02/2011 - 07:47 | 1836087 ArkansasAngie
ArkansasAngie's picture

But .. but ... Obama going to be there.  Doesn't that mean that the globalist will when hands down?

Hands down?  Watch for under the table touchie feelie.

There are many many way to screw the 99%'ers.

You can bet that Obama will be in on the action.


Wed, 11/02/2011 - 09:10 | 1836306 Ronaldo
Ronaldo's picture

Maybe the Salsa!

Wed, 11/02/2011 - 07:27 | 1836051 qussl3
qussl3's picture

If I'm china why the hell would I buy bs paper when I'll be able to buy corporates on the cheap if I wait?

Wed, 11/02/2011 - 07:28 | 1836053 Cassandra Syndrome
Cassandra Syndrome's picture

There is a redemption on Irish debt of over €4 Billion Euro on November 11th. That EFSF auction was for meant to cover that. Interesting to see what happens before then.

Wed, 11/02/2011 - 07:36 | 1836064 Irish66
Irish66's picture

IRE looks like death watch

Wed, 11/02/2011 - 07:31 | 1836059 zedder
zedder's picture

Added to my euro short a few hours ago. Thanks to zero hedge for pointing out the record euro short last week. This whole episode is understood by the main market participants. Is this the beginning of the end for the euro? Who cares, for the rest of us this may be a great chance to make some great fiat money from this chaos...

Wed, 11/02/2011 - 07:42 | 1836061 Youri Carma
Youri Carma's picture

German manufacturing shrinks in Oct for 1st time in 2 years: PMI, 2 November 2011, by Sarah Marsh - Berlin (Reuters) http://www.reuters.com/article/2011/11/02/us-germanymanufacturing-idUSTRE7A11JA20111102

Ambrose Evans-Pritchard: Why the Greek decision means a complete unravelling of last week's deal, 1 November 2011, by Ambrose Evans-Pritchard (Independent.ie) http://www.independent.ie/opinion/analysis/ambrose-evanspritchard-why-the-greek-decision-means-a-complete-unravelling-of-last-weeks-deal-2922679.html

REMINDER: Here's Who's Freaking Out Now That Greece Will Hard Default, 1 November 2011, by Mamta Badkar and Simone Foxman (Business Insider) http://www.businessinsider.com/reminder-whos-freaking-out-greece-will-default-2011-11?op=1


German government debt exposure to Greece totals $14.1 billion

French government debt exposure to Greece totals $13.4 billion

UK government debt exposure to Greece totals $3.96 billion

Italian government debt exposure to Greece totals $2.4 billion

U.S. government debt exposure to Greece totals $1.94 billion

Belgian government debt exposure to Greece totals $1.9 billion

Switzerland's government debt exposure to Greece totals $529 million

Spanish government debt exposure to Greece totals $502 million

Wed, 11/02/2011 - 07:35 | 1836062 bank guy in Brussels
bank guy in Brussels's picture

George Papandreou's announcement of the Greek referendum, has been a terrific boost to the spirit in the streets of Europe, however much he is criticised by European leaders, and whatever the consequences to the markets.

Even if Papandreou's government falls, it may be very hard for any subsequent government to 'cancel' this popular referendum.

Papandreou may have redeemed himself with his bold act favouring the will of the European common peoples. European populism may have just begun a great new phase.

Recommend to everyone a hearty laugh with the art of William Banzai yesterday, especially his 'The Great Euro Race' which may be an apt photo snapshot of the European sovereign situation:


Wed, 11/02/2011 - 07:39 | 1836073 Cdad
Cdad's picture

WTF has caused the Euro to rise 140 pips while I slept?  Seriously, was the Pacific Ocean a huge buyer last night?  Are you saying it was a China to the Rescue story...AGAIN...that caused this rise?

OK...previously, I would have been content to see all MF Global managers locked up...but now...serioulsy...let's just arrest them all.  Everything on Wall Street has become entirely criminal...everything...everyone...every broker dealer...all of them...if China to the Rescue AGAIN is the reason.  Fucking Marxist bankers!

Wed, 11/02/2011 - 07:48 | 1836088 qussl3
qussl3's picture

Might have to do with the 600+ pip move off the highs and those with profits not wanting to call Banana Ben's hand?

Wed, 11/02/2011 - 09:09 | 1836300 disabledvet
disabledvet's picture

"kiss of death."

Wed, 11/02/2011 - 07:53 | 1836100 bsdetector
bsdetector's picture


Wed, 11/02/2011 - 07:56 | 1836104 THE DORK OF CORK
THE DORK OF CORK's picture

Euro famine next year in Ireland , although somewhat offset by a massive deflation in potatoes

Well there is always hope.....................a few years ago our saviour was born.




Wed, 11/02/2011 - 07:54 | 1836105 Forgiven
Forgiven's picture

It looks like the sea of corporate and sovereign paper has finally crowded out the horizon.

Wed, 11/02/2011 - 07:59 | 1836110 sabra1
sabra1's picture

all this is a distraction from what is happening in the middle east! sure seems quiet over there lately, NOT!!! massive positioning of troops near the iranian border! watch both hands people, not just the left one!


Wed, 11/02/2011 - 08:10 | 1836122 Dr. Engali
Dr. Engali's picture

Everybody is crying for uncle Ben to print but the market won't give him the conditions to print. Hilarious.

Wed, 11/02/2011 - 08:17 | 1836139 arkel
arkel's picture

I'm surprised they were even able to sell 3 billion EFSF bonds. Why would anyone buy that crap. I'd rather invest in tulips than that black hole.

Wed, 11/02/2011 - 08:38 | 1836183 lizzy36
lizzy36's picture

WTF they can't get off a EUR 3B bond and we are going to rally.

This is like rallying on Operation Overlord failing.

This is insane.

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