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In New Levels Of Bizarro-Land-Ism, IMF Denies Its Own Rumor On Bond Market Intervention

Tyler Durden's picture




 

The Associated Press is reporting on an very appropriate comment from Antonio Borges, head of the IMF's Europe program, that he is retracting his earlier comment that they will intervene in bond markets to support Italy and Spain. Sure enough, this will not come as a surprise to our readers, after we said first thing today that "we find that the person tasked with destroying his credibility, after the market no longer trusts anything Lagarde says, is IMF European Department Director Antonio Borges who according to Reuters, said that Europe needs between 100 billion and 200 billion euros to recapitalize its banks to win back investor confidence and should carry out the plan across the continent, not in a staggered process." Consider credibility destroyed.

In a dramatic turnaround, a senior official for the International Monetary Fund on Wednesday retracted an earlier comment that the IMF could intervene in bond markets to support struggling Italy and Spain.

 

"The fund can only lend its resources to countries, and cannot use these resources to intervene in bond markets directly," Antonio Borges, the head of the IMF's Europe program, said in a statement.

 

"Any alternative lending modalities to what we do now would require a different legal structure" for the IMF, the statement continued, adding that such changes had not been discussed with the fund's members.

 

Earlier Wednesday, Borges had said at a news conference in Brussels that the IMF could possibly invest alongside the eurozone's bailout fund to help Italy and Spain.

Oh to have been a fly on the phone call from Christine Lagarde to Borges in which she, in a calm, cool, and collected manner, with little to no use of obscenities, and references to the Spaniard's mother, grandmother, and barn animals, explained to him to, very credibly, say he was only kidding.

What next: Steve Liesman reports X only to turn around 30 minutes later and say he was true to his name and it was all the teleprompter's fault.

 

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Wed, 10/05/2011 - 12:18 | 1741685 mayhem_korner
mayhem_korner's picture

 

 

Whoops!  IMF showing its ace on the flop instead of the river...

Wed, 10/05/2011 - 12:21 | 1741705 Ahmeexnal
Ahmeexnal's picture

Forget about shorting the markets. They will come out with contradictory rumours every 5 minutes.

SHART, MEET FAN!

Wed, 10/05/2011 - 12:27 | 1741756 SMG
SMG's picture

I think all these rumors are an attempt by the Oligarchy to delay the crash a little bit longer until they and all their lackey's are in the positions they want to be in.   I think what all these unsubstantiated rumors over the past few weeks mean, is that the crash is very close and the powers that be want to make sure they have thei i's dotted and t's crossed before they pull their finger out of the dike.

Wed, 10/05/2011 - 12:31 | 1741780 Ahmeexnal
Ahmeexnal's picture

The only possible positon the oligarchs will find is on their knees, with their hands and head between wooden shackles, with a basket under their heads!

Wed, 10/05/2011 - 12:46 | 1741849 fuu
fuu's picture

The kaishakunin would then perform kaishaku, a cut in which the warrior was decapitated. The maneuver should be done in the manners of dakikubi (lit. "embraced head"), in which way a slight band of flesh is left attaching the head to the body, so that it be hung in front as if embraced.

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

Wed, 10/05/2011 - 13:31 | 1742003 Timmay
Timmay's picture

There are many stories on record of extraordinary heroism being displayed in the harakiri. The case of a young fellow, only twenty years old, of the Choshiu clan, which was told me the other day by an eye-witness, deserves mention as a marvellous instance of determination. Not content with giving himself the one necessary cut, he slashed himself thrice horizontally and twice vertically. Then he stabbed himself in the throat until the dirk protruded on the other side, with its sharp edge to the front; setting his teeth in one supreme effort, he drove the knife forward with both hands through his throat, and fell dead.

 

Come on Bernanke, don't be a wuss.....

Wed, 10/05/2011 - 13:36 | 1742023 Timmay
Timmay's picture

In his book Tales of Old Japan, Mitford describes witnessing a hara-kiri:[5]

"As a corollary to the above elaborate statement of the ceremonies proper to be observed at the harakiri, I may here describe an instance of such an execution which I was sent officially to witness. The condemned man was Taki Zenzaburo, an officer of the Prince of Bizen, who gave the order to fire upon the foreign settlement at Hy?go in the month of February 1868,—an attack to which I have alluded in the preamble to the story of the Eta Maiden and the Hatamoto. Up to that time no foreigner had witnessed such an execution, which was rather looked upon as a traveller's fable. The ceremony, which was ordered by the Mikado himself, took place at 10:30 at night in the temple of Seifukuji, the headquarters of the Satsuma troops at Hiogo. A witness was sent from each of the foreign legations. We were seven foreigners in all. After another profound obeisance, Taki Zenzaburo, in a voice which betrayed just so much emotion and hesitation as might be expected from a man who is making a painful confession, but with no sign of either in his face or manner, spoke as follows:

“ I, and I alone, unwarrantably gave the order to fire on the foreigners at Kobe, and again as they tried to escape. For this crime I disembowel myself, and I beg you who are present to do me the honour of witnessing the act. ”

Bowing once more, the speaker allowed his upper garments to slip down to his girdle, and remained naked to the waist. Carefully, according to custom, he tucked his sleeves under his knees to prevent himself from falling backwards; for a noble Japanese gentleman should die falling forwards. Deliberately, with a steady hand, he took the dirk that lay before him; he looked at it wistfully, almost affectionately; for a moment he seemed to collect his thoughts for the last time, and then stabbing himself deeply below the waist on the left-hand side, he drew the dirk slowly across to the right side, and, turning it in the wound, gave a slight cut upwards. During this sickeningly painful operation he never moved a muscle of his face. When he drew out the dirk, he leaned forward and stretched out his neck; an expression of pain for the first time crossed his face, but he uttered no sound. At that moment the kaishaku, who, still crouching by his side, had been keenly watching his every movement, sprang to his feet, poised his sword for a second in the air; there was a flash, a heavy, ugly thud, a crashing fall; with one blow the head had been severed from the body. A dead silence followed, broken only by the hideous noise of the blood throbbing out of the inert heap before us, which but a moment before had been a brave and chivalrous man. It was horrible. The kaishaku made a low bow, wiped his sword with a piece of rice paper which he had ready for the purpose, and retired from the raised floor; and the stained dirk was solemnly borne away, a bloody proof of the execution. The two representatives of the Mikado then left their places, and, crossing over to where the foreign witnesses sat, called us to witness that the sentence of death upon Taki Zenzaburo had been faithfully carried out. The ceremony being at an end, we left the temple.

The ceremony, to which the place and the hour gave an additional solemnity, was characterized throughout by that extreme dignity and punctiliousness which are the distinctive marks of the proceedings of Japanese gentlemen of rank; and it is important to note this fact, because it carries with it the conviction that the dead man was indeed the officer who had committed the crime, and no substitute. While profoundly impressed by the terrible scene it was impossible at the same time not to be filled with admiration of the firm and manly bearing of the sufferer, and of the nerve with which the kaishaku performed his last duty to his master.

Wed, 10/05/2011 - 15:34 | 1742421 JW n FL
JW n FL's picture

 

 

James --

I need your urgent help. Controversial Republican billionaire brothers Charles and David Koch -- who have spent untold millions bankrolling right-wing candidates and causes -- are now the subject of a new Bloomberg investigation that shows Koch Industries profited from doing business with Iran.

This is all despite American trade sanctions against Iran and the country’s known links to financing terrorists.

House Republican Leadership’s response: Silence.

This is unacceptable. We can’t let this stand.

Sign our petition right now demanding that House Republicans immediately demand an investigation of Koch Industries’ business dealings with Iran.

If we can get 50,000 signatures, we will deliver them directly to Republican Speaker Boehner and Majority Leader Cantor.

Bloomberg reported that Koch Industries benefited from bribes to win business and sold millions of dollars of equipment to the Iranian regime which is known for their sponsorship of terrorism and calls of "death to America."

Charles and David Koch who run Koch Industries are the same billionaire brothers who have fought for taxpayer subsidies for their own Big Oil interests and advocate privatizing Social Security.

We need to show grassroots Democrats are strong and unified in telling Speaker Boehner and Leader Cantor they must immediately demand an investigation of Koch Industries and its business dealings with Iran. Help us reach 50,000 people standing strong.

Add your name right now >>

Wed, 10/05/2011 - 13:41 | 1742039 Sambo
Sambo's picture

The CNBC observers are going to get freaked out reading this.....

Wed, 10/05/2011 - 14:28 | 1742174 Libertarians fo...
Libertarians for Prosperity's picture

 

 

I truly don't understand all this extreme and gruesome hostility. It's not just the "oligarchs" you hate....you hate the poor, too.  Hell, you guys even hate the middle class like teachers, police officers and fire fighters if they're in a union. Your hatred cuts through everyone:  from the oligarchs, to bankers, to the politicians straight through the middle class, down to the poor and down-trodden. You guys just hate everyone who exists outside your small sphere of extreme, goofy libertardian ideologies.  

Class warfare seems to be a popular topic these days, and you idiots are as guilty as anyone.  It's so hypocritical of you guys to accuse Obama of class warfare, when the comments section here at Zerohedge is littered with exactly that: class warfare against everyone!  The poor, the rich, the Republicans, the Democrats, teachers, blue collar workers.... everyone... you guys are at war with everyone.

Pathetic!

Libertarians 2012:  Get Rid of the AirTraffic Controllers!    

Wed, 10/05/2011 - 15:22 | 1742381 fuu
fuu's picture

Why hello there liar boy!

Wed, 10/05/2011 - 15:27 | 1742394 LongBallsShortBrains
LongBallsShortBrains's picture

I love you.

Wed, 10/05/2011 - 15:36 | 1742431 faustian bargain
faustian bargain's picture

Trolltards 2012: Freedom Is Slavery!

Wed, 10/05/2011 - 18:13 | 1743102 Jedi Longsabre
Jedi Longsabre's picture

Don't get rid of air traffic contollers. That might cause slight increase in accidents. Just privatize them like in those libertarian bastions Canada, Great Britian and New Zealand. Oh, yeah it can't be done because it is a union job, what was I thinking

Wed, 10/05/2011 - 12:40 | 1741831 Eagle1
Eagle1's picture

I agree, you are exactly correct. This whole thing is a staged event.

Wed, 10/05/2011 - 12:43 | 1741839 PaperWillBurn
PaperWillBurn's picture

I think the endgame is well underway, and the outcome is not saving the public, but managing the transition to a new system, while hopefully keeping the same ruling class. That will not be disclosed while 'the players' jockey for advantage and position, 'turf' and the privilege of rents, if you will, well ahead of the crowd.

The European Central Bank and the Federal Reserve will bail out the banks again, and seek an 'orderly resolution' to the Greek situation. This will involve either an overt or de facto devaluation of the Euro and the Dollar. Make no mistake, the Dollar will not be allowed to appreciate dramatically for the same reasons that all the other currencies wish to avoid such an outcome.

The Dollar and the Euro are the relativistic value expressions of the financial system. They have no substance otherwise, no permanence except for the will of keepers of the system. The DXY is only an expression of the Euro and Yen and a few other fiat currencies. They are created at will.

And so in advance of the coming devaluation, gold is hit hard in order to maintain the confidence in the fiat system, with the clumsy propaganda pieces in the compliant mainstream media, and so that when bullion rises in reaction to the currency devaluations it will be easier to control, as Paul Volcker had suggested.

"That day the U.S. announced that the dollar would be devalued by 10 percent. By switching the yen to a floating exchange rate, the Japanese currency appreciated, and a sufficient realignment in exchange rates was realized. Joint intervention in gold sales to prevent a steep rise in the price of gold, however, was not undertaken. That was a mistake."

Paul Volcker, Nikkei Weekly 2004

http://jessescrossroadscafe.blogspot.com/2011/10/administrative-note.html

Wed, 10/05/2011 - 13:08 | 1741943 ElvisDog
ElvisDog's picture

Make no mistake, the Dollar will not be allowed to appreciate dramatically for the same reasons that all the other currencies wish to avoid such an outcome

What? To protect the vibrant U.S. export economy? I find it amusing that after all that has happened over the past three years there are still some people who cling to the "Central bankers are omniscent" meme.

Wed, 10/05/2011 - 13:36 | 1742020 Troll Magnet
Troll Magnet's picture

be careful thinking the end is near.  i've learned awhile ago not to fight the fed as they can fuck with you at anytime of their choosing.  they will drag this shit out for as long as they can because they know that IF/ONCE things implode beyond control, people will be coming for them.  

Wed, 10/05/2011 - 17:19 | 1742934 ElvisDog
ElvisDog's picture

I do agree that the doom-and-gloomers usually get the timing wrong. They underestimate the ability of the status quo to keep the game going with a stick save. However, I disagree that the Fed is in control of everything and things are going according to some master plan.

Wed, 10/05/2011 - 12:48 | 1741865 ghostfaceinvestah
ghostfaceinvestah's picture

Agreed, this is also why they crashed gold prices, so they can pick up more physical before it all comes crashing down.

Wed, 10/05/2011 - 12:52 | 1741882 ZeroPower
ZeroPower's picture

Crashed? You bugs seriously need to re-visit what crashes look like.

Wed, 10/05/2011 - 12:53 | 1741890 junkyardjack
junkyardjack's picture

The only safety will be treasuries

Wed, 10/05/2011 - 12:58 | 1741913 SheepDog-One
SheepDog-One's picture

Near 50% drop in silver is a pretty good crash.

Wed, 10/05/2011 - 13:07 | 1741941 Ruffcut
Ruffcut's picture

Deny your denial, bitchezz.

Wed, 10/05/2011 - 12:28 | 1741760 redpill
redpill's picture

We've always been at war with Eastasia.

Wed, 10/05/2011 - 12:19 | 1741689 GeneMarchbanks
GeneMarchbanks's picture

IMFull of SHit.

Wed, 10/05/2011 - 12:21 | 1741709 mayhem_korner
mayhem_korner's picture

Don't be so hard on yerself, GMB.  :D

Wed, 10/05/2011 - 12:39 | 1741818 Popo
Popo's picture

I believe the term is "crying wolf"

... and the thing about crying wolf is that is stops working eventually....

... and then the wolf eats your face off.

Wed, 10/05/2011 - 12:50 | 1741873 GeneMarchbanks
GeneMarchbanks's picture

It sure does Popo.

Wed, 10/05/2011 - 12:19 | 1741694 wombats
wombats's picture

Yawn.

Who pays attention to the IMF baffoons?

Wed, 10/05/2011 - 12:25 | 1741744 baby_BLYTHE
baby_BLYTHE's picture

Christine Lagarde is just a puppet and was handpicked by the Rothschild family to facilitate world economic plunder and wealth transfer.

G. Edward Griffin covers IMF fascism in great detail in The Creature from Jekyll Island. I Highly recommend every ZHer read his masterpiece.

Wed, 10/05/2011 - 12:46 | 1741850 hussaifa
hussaifa's picture

Read it - I Second, Third & Fourth this comment.

Wed, 10/05/2011 - 13:01 | 1741921 NotApplicable
NotApplicable's picture

When that's finished read Carroll Quigley's "Tragedy & Hope: A History of the World in Our Time."

It's their freakin' playbook.

Wed, 10/05/2011 - 14:44 | 1742257 ChemicalAli
ChemicalAli's picture

You're quite right, but you fail to mention that G. Edward Griffin plagiarized Eustace Mullins. 

 

Eustace Mullins had al the answers WAY before the fraud G. Edward Griffin.

Wed, 10/05/2011 - 12:19 | 1741695 nyse
nyse's picture

Anyone interested in taking a swing at a pinata, here you go - BlackStone Outlook: Europe/US:
http://www.scribd.com/doc/67610960

Comments reatled to slide 5 would be of particular interest to me.

Dare you try and refute the bull case? Well, I dare you.

Wed, 10/05/2011 - 12:38 | 1741810 Panafrican Funk...
Panafrican Funktron Robot's picture

http://www.finviz.com/quote.ashx?t=bx&ty=c&ta=0&p=m

I put about as much stock in what Blackstone analysts say, as I do Morgan Stanley analysts.

Wed, 10/05/2011 - 12:19 | 1741696 sabra1
sabra1's picture

funny how this report came out after european markets close!

Wed, 10/05/2011 - 13:03 | 1741931 NotApplicable
NotApplicable's picture

It's almost as if they had a clock...

Wed, 10/05/2011 - 12:20 | 1741702 Fips_OnTheSpot
Fips_OnTheSpot's picture

Inverted rumors!!

Wed, 10/05/2011 - 12:20 | 1741704 firstdivision
firstdivision's picture

This isn't surprising in that, spilling the beans on secret operations is usually frowned upon.

Wed, 10/05/2011 - 12:21 | 1741714 SheepDog-One
SheepDog-One's picture

Layer upon layer of rumors and denials that rumors were rumors in the first place...the only thing that fuels the world markets today. Pretty scary.

Wed, 10/05/2011 - 12:28 | 1741764 Quinvarius
Quinvarius's picture

All they know is suddenly a big checkbook opened somewhere.  Someone blinked.

Wed, 10/05/2011 - 12:21 | 1741717 Carl LaFong
Carl LaFong's picture

Is there really any difference whether they intervene directly in the EU bond market or loan the funds to governments or central banks to do the same?

Wed, 10/05/2011 - 12:23 | 1741727 SheepDog-One
SheepDog-One's picture

We dont have any clear idea how, but everyone is going to pay everyone else although everyone is broke but all is well anyway for today....que FT rumormill to provide next mad market momo spike.

Wed, 10/05/2011 - 12:25 | 1741743 Fips_OnTheSpot
Fips_OnTheSpot's picture

legal strings? wait...

Wed, 10/05/2011 - 13:05 | 1741937 NotApplicable
NotApplicable's picture

Every instrument has its own counter-party, so I'm sure there is lots of jostling for the best (read: safest) seat in the house.

Wed, 10/05/2011 - 12:24 | 1741735 carbonmutant
carbonmutant's picture

Eurozone crisis is Mad Hatter’s tea party...

Wed, 10/05/2011 - 12:27 | 1741753 Money 4 Nothing
Money 4 Nothing's picture

Please tell me that was the last shit taco for the day?

Wed, 10/05/2011 - 12:24 | 1741739 tekhneek
tekhneek's picture

I'm about to just turn off my computer and move to Alaska. This shit is so annoying.

Wed, 10/05/2011 - 12:26 | 1741747 SheepDog-One
SheepDog-One's picture

LOL yea Im with ya.

Wed, 10/05/2011 - 12:32 | 1741781 thunderchief
thunderchief's picture

I'm going to Rangoon, Burma.  It's less corrupt.

Maybe summer in North Korea when they open that joint up.

Wed, 10/05/2011 - 12:40 | 1741823 Panafrican Funk...
Panafrican Funktron Robot's picture

You're forgetting Cuba, good sir.  Cigars, liquor, hot ladies, great beaches, great music.  And at least you get a tangible ROI when you bribe somebody.

Wed, 10/05/2011 - 13:13 | 1741955 Schmuck Raker
Schmuck Raker's picture

Cuba's a good choice. 1+

DO NOT try to bribe anybody. 1-

Wed, 10/05/2011 - 15:06 | 1742317 Smiddywesson
Smiddywesson's picture

Not me, I'm buying into Soverign Man's wigged out commune in Columbia so I can be gang raped and killed by looters, but at least I got a deal.

Wed, 10/05/2011 - 12:30 | 1741774 GeneMarchbanks
GeneMarchbanks's picture

Salmon fishing, gold in the ground, whos nailin Palin... you really can't go wrong. I hear you can see Putin wrestlin bears across the Bering strait.

Wed, 10/05/2011 - 12:39 | 1741822 JohnG
JohnG's picture

My wife and I have been thinking of ways we can go as well.  A few problems with just bailing,  it'slooking more doable the more we think on it.

Wed, 10/05/2011 - 12:25 | 1741746 catacl1sm
catacl1sm's picture

How can I get the rumors faster? They're killing me.

Wed, 10/05/2011 - 12:27 | 1741754 SheepDog-One
SheepDog-One's picture

Hmmm yes maybe we can design and HFT FT rumor front running program....

Wed, 10/05/2011 - 12:29 | 1741769 catacl1sm
catacl1sm's picture

I thought they already had one.

Wed, 10/05/2011 - 12:30 | 1741773 Fips_OnTheSpot
Wed, 10/05/2011 - 12:57 | 1741909 Dapper Dan
Dapper Dan's picture

This is the fastest way I have found,

http://www.breakingnews.com/

 

Wed, 10/05/2011 - 13:10 | 1741950 NotApplicable
NotApplicable's picture

The fastest way to get rumors is to create and disseminate them.

On Soviet Wall St., rumor spreads you!

Wed, 10/05/2011 - 15:40 | 1742441 faustian bargain
faustian bargain's picture

On Soviet Wall St., rumor spreads you!

golf clap for that one.

Wed, 10/05/2011 - 12:26 | 1741749 Fips_OnTheSpot
Fips_OnTheSpot's picture

Oh, and Merkel wants to play card-blanche (read: cheque blanco) for german banks "if recap is really needed"

Wed, 10/05/2011 - 12:27 | 1741751 czarangelus
czarangelus's picture

In a way, this is the best time to be alive. Thanks to advanced communication techniques, 100 years of absurdity, self-contradiction, and paradox - takes place in 30 minutes flat.

Wed, 10/05/2011 - 12:27 | 1741755 Quinvarius
Quinvarius's picture

The spice is flowing again.  No one wants to admit being the spice smuggler.  But we all know the source of the spice.  It comes from one place and one place only.  The US Fed.

Wed, 10/05/2011 - 12:28 | 1741763 LongSoupLine
LongSoupLine's picture

You know, even mob bookies, and Hollywood gossip queens look at the this stuff and say WTF!

You just can't make this shit up...

Wed, 10/05/2011 - 12:30 | 1741765 PicassoInActions
PicassoInActions's picture

According to CNBC Zerohedge is partially responsible for MS stock slide

 

Its latest round of troubles began on Friday morning before the markets opened at 9:30 a.m. Zero Hedge, a well-read and controversial financial blog, linked to a Bloomberg News article that noted Morgan’s credit-default swap spreads had been widening. The Zero Hedge post also directed readers to a previous Zero Hedge article that pegged Morgan Stanley’s net exposure to French banks at $39 billion, about $12 billion more than the bank’s current market capitalization, reigniting fears about its exposure.

 

Calling Zero Hedge for damage control was not an option. The post was written by an anonymous blogger who goes by the name of “Tyler Durden,” a character in the movie “The Fight Club,” and the Web site does not give readers a way to readily reach its writers.

Wed, 10/05/2011 - 12:31 | 1741779 catacl1sm
catacl1sm's picture

Good. Maybe if they weren't lying bastards (MS and CNBC) ZH wouldn't have to shed light on the truth.

Wed, 10/05/2011 - 12:52 | 1741881 Money 4 Nothing
Money 4 Nothing's picture

It's Mr. Randall! From the sell side desk!!

And I would have gotten away with it if it wasn't for you metteling Zero Hedgers!!

Wed, 10/05/2011 - 12:34 | 1741797 GeneMarchbanks
GeneMarchbanks's picture

You know I can't speak for all ZHers but I feel that I channel a certain predilection when I say: Fuck Morgan Stanley.

Wed, 10/05/2011 - 12:40 | 1741826 tekhneek
tekhneek's picture

And I channel myself when I say: FUCK CNBC AND THEIR IGNORANT READERS.

Wed, 10/05/2011 - 12:51 | 1741879 PicassoInActions
PicassoInActions's picture

I would not say ignorant readers. I am sure majority who reads CNBC are the readers here.

The law of relativity, we comnpare clowns on CNBC to news on zerohedge. Nothing wrong to be informed what others are selling.

Wed, 10/05/2011 - 13:18 | 1741971 SheepDog-One
SheepDog-One's picture

Fuck Morgan Stanley, and fuck CNBC.

Wed, 10/05/2011 - 12:49 | 1741869 Panafrican Funk...
Panafrican Funktron Robot's picture

Yes, clearly, ZH for linking a Bloomberg article is treasonous.  Also, analysis of publically available information from the SEC, treason.

Wed, 10/05/2011 - 12:50 | 1741875 tmosley
tmosley's picture

lol, I guess the Contact infomation on the right side of the screen in the form of multiple email addresses isn't "ready" enough a contact method.

Wed, 10/05/2011 - 15:20 | 1742352 Smiddywesson
Smiddywesson's picture

a well-read and controversial financial blog

"Controversal"???  The only thing controversal to these clowns is telling the truth.  To them, pointing out that the CDS spreads indicate a fire is inexcusable.

.

Wed, 10/05/2011 - 12:31 | 1741777 Do You Speak Greek
Do You Speak Greek's picture

I wouldn't kick Christine Lagarde out of bed.  I bet she speaks Greek too.

Wed, 10/05/2011 - 12:32 | 1741782 Racer
Racer's picture

They lie so much they don't know their own lies now!

Wed, 10/05/2011 - 12:33 | 1741790 unionbroker
unionbroker's picture

WHY ARE THEY CALLED RUMORS AND NOT LIES ?

Wed, 10/05/2011 - 12:35 | 1741796 heatbarrier
heatbarrier's picture

Maybe the IMF thinks this is the time to pass the hat around, get another US$ trillion. 

Wed, 10/05/2011 - 12:35 | 1741799 catacl1sm
catacl1sm's picture

Ah shit, BofA. http://www.bloomberg.com/news/2011-10-04/bank-of-america-s-countrywide-m...

 

Mo' CountryWide, Mo' Problems, bitchez.

Wed, 10/05/2011 - 12:53 | 1741888 Panafrican Funk...
Panafrican Funktron Robot's picture

Interesting that they fail to identify the "watchdog group".

Wed, 10/05/2011 - 13:36 | 1742019 pods
pods's picture

No worries, it will be upped the chain to Eric "Place" Holder and will be dealt with in a manner in which he sees fit.

pods

Wed, 10/05/2011 - 12:35 | 1741800 buzzsaw99
buzzsaw99's picture

well you'll never hear one of us repeating market rumors

so you'd better be sure and listen close the first time...

 

[/hee haw]

Wed, 10/05/2011 - 12:37 | 1741806 JW n FL
JW n FL's picture

 

 

http://www.youtube.com/watch?v=dycOjV8dec4&feature=channel_video_title

Uploaded by on Oct 4, 2011

Policymakers, academics, and other market watchers discuss how to prevent the global economy from worsening further and plunging into stagnation.

Wed, 10/05/2011 - 12:40 | 1741829 JW n FL
JW n FL's picture

 

 

Here comes the BRAVE NEW WORLD! One World! Canada blueprint for Europe!

if you can not put these two pieces of the puzzle together.. maybe you should read more?

 

http://www.youtube.com/watch?v=97FX5QU07j8&feature=uploademail

Stephen Harper Met G20 finance heads then says "Its a loss of CANADA'S sovereignty"

 

Uploaded by on Oct 4, 2011

Stephen Harper calls Canada "a benign DICTATORSHIP." and it's a passionate defence of coalition governments. The Document written in 1997 by Harper and co-written with Tom Flanagan.
http://www.cbc.ca/news/politics/canadavotes2011/story/2011/03/30/cv-milewski-...

Remember Tom Flanagan? he called for capital murder on live tv: "he said "Julian Assange wikileak founder Should Be Assassinated'
http://www.youtube.com/watch?v=b2-GQ2Xhq1M

Stephen Harper caught lying about Canada's sovereignty, Mr. Stephen Harper gave away Canada's National sovereignty at the G20 Summit in Toronto

G20 to halve deficits by 2013, stabilize debt levels
who do you think they're going to make pay for this? AUSTERITY MEASURES
http://www.financialpost.com/news/members+agree+halve+deficits+2013/3208422/s...

1 BILLION SPENT OF TAX PAYERS MONEY ON A 3 DAY SUMMIT
BIG CONCLUSION FROM WORLD LEADERS---TO CUT DEFICITS

Harpers G20 summit, $1 Billion boondoggle
http://www.msnbc.msn.com/id/37901237/ns/world_news-americas/

Harper Government kept 'scandalous' G8 and G20 spending a secret
http://www.thestar.com/news/canada/politics/article/969164--tories-kept-scand...

The United Nations, formed for the sole purpose of removing National Sovereignty and installing a One World Government, "Global Government", undemocratic rule, upon every person on the planet. Paul Martin, Liberal, and Stephen Harper, Conservative, are two of a multitude of Traitors, working behind the scenes, working toward the goals of the UN, and the G20 banking ruling body.
There is no Left or Right! Only Traitors. Every Canadian has a duty to defend Canada. Will we? O Canada! Stand On GUARD

"I don't think anybody is going to come in and say we're prepared to surrender our sovereignty to the G20 or some other body" -Stephen Harper April 29 2010

" I know some people don't like it. It is a loss of national sovereignty, but it is a simple reality, it is a simple reality." -Stephen Harper June 27 2010

National sovereignty stands tall at the G20
http://www.nationalpost.com/news/National+sovereignty+stands+tall/3209162/sto...

Integrated border won't sacrifice Canada's sovereignty, Harper says
http://www.theglobeandmail.com/news/politics/integrated-border-wont-sacrifice...

Harper-Obama "perimeter" border summit faces sovereignty speed bumps
http://ca.news.yahoo.com/harper-obama-perimeter-border-summit-faces-sovereign...

Border talks 'not about sovereignty:' Harper
http://www.cbc.ca/news/canada/story/2011/02/04/harper-obama.html

Stephen Harper calls for 'enlightened sovereignty'
http://www.theglobeandmail.com/news/politics/harper-calls-for-enlightened-sov...

Wed, 10/05/2011 - 12:45 | 1741844 chunga
chunga's picture

There you are. I want my drink...lol. onplane33 [at] gmail [dot] com - spammers can send viruses all day. I use that account for purposes like this only. Lake Worth is a long ride for me but I am going.

Wed, 10/05/2011 - 15:19 | 1742364 JW n FL
JW n FL's picture
Wed, 10/05/2011 - 12:45 | chunga

There you are. I want my drink...lol. onplane33 [at] gmail [dot] com - spammers can send viruses all day. I use that account for purposes like this only. Lake Worth is a long ride for me but I am going.

You have mail!

Wed, 10/05/2011 - 15:34 | 1742424 JW n FL
JW n FL's picture

 

 

James --

I need your urgent help. Controversial Republican billionaire brothers Charles and David Koch -- who have spent untold millions bankrolling right-wing candidates and causes -- are now the subject of a new Bloomberg investigation that shows Koch Industries profited from doing business with Iran.

This is all despite American trade sanctions against Iran and the country’s known links to financing terrorists.

House Republican Leadership’s response: Silence.

This is unacceptable. We can’t let this stand.

Sign our petition right now demanding that House Republicans immediately demand an investigation of Koch Industries’ business dealings with Iran.

If we can get 50,000 signatures, we will deliver them directly to Republican Speaker Boehner and Majority Leader Cantor.

Bloomberg reported that Koch Industries benefited from bribes to win business and sold millions of dollars of equipment to the Iranian regime which is known for their sponsorship of terrorism and calls of "death to America."

Charles and David Koch who run Koch Industries are the same billionaire brothers who have fought for taxpayer subsidies for their own Big Oil interests and advocate privatizing Social Security.

We need to show grassroots Democrats are strong and unified in telling Speaker Boehner and Leader Cantor they must immediately demand an investigation of Koch Industries and its business dealings with Iran. Help us reach 50,000 people standing strong.

Add your name right now >>

Wed, 10/05/2011 - 15:45 | 1742474 faustian bargain
faustian bargain's picture

Where are the investigations into all the companies doing business with the US government? (Or with Canada, for that matter.)

Wed, 10/05/2011 - 12:52 | 1741885 SheepDog-One
SheepDog-One's picture

Harper's a dick! 

Hey JW whats stopping them from bringing it on? Cold feet? Ive been reading for years how the banksters cabal is going to take us over and all this, what keeps stopping them?

Wed, 10/05/2011 - 13:17 | 1741967 NotApplicable
NotApplicable's picture

They are waiting until the sheeple are sufficiently weakened and will voluntarily fill the FEMA camps. Otherwise, the revolution could get out of their hands, and they would have to break even more shit to combat its energy. While they don't mind breaking shit to keep it from us, they would prefer to steal it first.

Wed, 10/05/2011 - 13:21 | 1741977 SheepDog-One
SheepDog-One's picture

OK, so they could do that today by cutting off all food stamp cards, unemployment, and welfare....I still ask 'Whats stopping them?' Most all americans today would willingly go to 'Camp FEMA" if promised free food and housing'...'weaken the american people'? Hell theyll already believe and do anything. They could move forward completely today. Theyre scared of something.

Wed, 10/05/2011 - 13:58 | 1742073 JW n FL
JW n FL's picture

 

 

IMHO.. and I have been wrong before and I am confident I will be wrong in the future.. but NONE THE LESS! in my honest opinion.

this is all about population control or management..

the information, bad information.. just keeps coming..

the disparity between Americans, keeps getting Larger and Larger..

the Government continues to add fuel to the fire..

the divide and conquer, has been easily used to pit Poor Americans against other poor Americans..

the situation is getting worse and more worse by the day. It used to take 6 months for things to make me wanna slap the shit outa someone.. now it seems everyday something new is tearing my Country APART! which pisses me off to no end.

The Corporate Owned Media, The Public Relations Arm of the Government and 99% of Traditional Media Outlets (news papers, magazines and the like) are ALL! for stirring the pot and pissing people of just that much more. It doesn't seem to me anyone wants peace, they want to push lies that will fail and fail BIG! in the public eye.

so, by design we have a cluster fuck and a public one at that.. which equates too.. someone wants it that way.

with all the available information being dedicated to causing Panic, Fear and general Discomfort.. You have to ask Yourself?? why do They (the powers that be) allow or want all this Bad Information laid out for Americans day in and day out?

These problems are not new but the Fact that they are in heavy rotation on Cable News is New. Thusly the Money, the dollars that control the Bulk of the Media WANT IT THAT WAY!

look for a Kent State type of polarizing event to be the spark that sets the whole powder keg off. Nothing like children (young people) being murdered on T.V. while they are singing peace songs and protesting being robbed of their future.. Maybe New York's Finest can get another $4.6 million from JP Morgan and then 2 days later arrest 700 fucking people.. I LOVE these idiots that are selling the idea the money was for computers! LOL!! I am sure when the NYPD did not have to buy their own computers it free'd up the money to pay the over time to coral, feed, transport, book and release 700 people in a day.

The Powers that Be are stirring the pot.. Let "We the People" kill off "We the People" and then Government will sell the people left the idea that guns Kill people and are bad, thusly the 2nd amendment will need to be removed.. for the safety and benefit of all! LOL!!

"We the People" are managed.

"We the People" are being managed.

"We the People" are being pissed off to the point of mass / NATIONWIDE Protests break out!

Wall Street Robbed "We the People" of Trillions and NO ONE WENT TO JAIL EXCEPT THE WHISTLE BLOWERS??

 

 

Population Control / Management Info

The Most IMPORTANT Video You'll Ever See (part 1 of 8)

http://www.youtube.com/watch?v=F-QA2rkpBSY

 

Bill Gates-Population Reduction Agenda of the Earth

http://www.youtube.com/watch?v=6mwYXbdQYN8&feature=related

 

David Rockefeller Speech on Population Control

http://www.youtube.com/watch?v=ZTEorS4yWt0

 

 

Disparity Between "We the People"

 

http://www.imf.org/external/pubs/ft/fandd/2011/09/pdf/milanovi.pdf

More or Less

Finance & Development, September 2011, Vol. 48, No. 3

Branko Milanovic   PDF version

Income inequality has risen over the past quarter-century instead of falling as expected

INEQUALITY is growing. Disparities are increasing—between the rich and poor in individual countries, and until recently, between countries. The global financial crisis is keeping real incomes stagnant in advanced economies but it probably narrowed global inequality between citizens of the world, because most developing countries continued with strong growth. Some say that inequality doesn’t matter as long as markets are working efficiently, or if everyone is getting more. Others argue that inequality hampers growth, or that only so much disparity is ethically acceptable.

 

INCOME INEQUALITY

F&D Spotlights Widening Gap Between Rich and Poor

By Marina Primorac
Managing Editor, Finance & Development

September 12, 2011

  • Income inequality within countries is rising, research shows
  • Global financial crisis probably narrowed inequality across countries
  • Equality is important ingredient in sustainable economic growth

The disparity between the haves and the have nots is increasing, according to an article in Finance & Development (F&D) magazine by inequality expert Branko Milanovic.

 

Stirring the Pot / Causing Civil Un-Rest

 

The NYPD! New York's Finest were Rented Out like the WHORES THEY ARE! Just like the Rockefellers Rented the National Guard at the Ludlow Massacre!!

 

The Rockefellers Are Baby Killers: Ludlow Massacre

http://www.youtube.com/watch?v=Ciy8OPJYqWU

Uploaded by TerroristCitizen on Sep 16, 2010

Daily News @ http://RevolutionNews.US ~ The massacre occurred in a carefully planned attack on the tent colony by Colorado militiamen, coal company guards, and thugs hired as private detectives and strike breakers. They shot and burned to death 20 people, including a dozen women and small children. Later investigations revealed that kerosine had intentionally been poured on the tents to set them ablaze. The miners had dug foxholes in the tents so the women and children could avoid the bullets that randomly were shot through the tent colony by company thugs. The women and children were found huddled together at the bottoms of their tents.

---

A quote from David Rockefeller's autobiography 'Memoirs' -

"For more than a century, ideological extremists at either end of the political spectrum have seized upon well-publicized incidents to attack the Rockefeller family for the inordinate influence they claim we wield over American political and economic institutions. Some even believe we are part of a secret cabal working against the best interests of the United States, characterizing my family and me as 'internationalists' and of conspiring with others around the world to build a more integrated global political and economic structure - one world, if you will.

If that's the charge, I stand guilty, and I am proud of it."

- David Rockefeller

This video taken from the film: Psywar - The real battlefield is your mind

http://www.youtube.com/watch?v=j7A2hVDdB10

 

Wed, 10/05/2011 - 14:02 | 1742082 JW n FL
JW n FL's picture

 

 

Secret Hold On Whistleblower Protection Narrowed Down To Two Senators http://goo.gl/INklc

 

UBS Whistle Blower in Jail for helping the IRS with over 2,000 Tax Dodgers! http://goo.gl/s8JYp  

'Austrian tax evasion whistleblower' dies in Swiss jail http://goo.gl/w3bqP  

Swiss tax whistleblower to give WikiLeaks new data & in Jail for it http://goo.gl/KiQhV   

No Bankers in Jail, No Tax Dodgers in Jail and Wall Street is Leveraged MORE than before! Tell the Truth? Go To Jail!

 

http://www.banktech.com/articles/229700093?cid=nl_bnk_daily 

Top U.S. Lobbying Banks Got Biggest Bailouts

 

2. [PDF]  

A Fistful of Dollars:Lobbying and the Financial Crisis; Financial ...

File Format: PDF/Adobe Acrobat - View as HTML
A Fistful of Dollars: Lobbying and the Financial Crisis by. Deniz Igan ...
www.imf.org/external/np/res/seminars/2009/arc/pdf/Mishra1.pdf

Rigged Market Capitalism & Propaganda within the U.S. by the U.S. http://goo.gl/RtmEr PLUS! http://goo.gl/qH4dN PLUS!! http://goo.gl/Uzm3q

 

Corporations Own the Lobby!

The Lobby Owns the Government!

Law Enforcement works for the Duly Elected Lobby Whores!

“We the People” are Screwed!

 

http://research.stlouisfed.org/fred2/series/BASE 3 Years 300% More Dollars Printed Out of Thin Air!

Wed, 10/05/2011 - 15:25 | 1742390 Smiddywesson
Smiddywesson's picture

they are breeding compliance and indifference into the species, kind of like making dogs from wolves.  Don't worry, we are almost ready for the kennels.

Wed, 10/05/2011 - 12:38 | 1741814 hambone
hambone's picture

OT but very interesting - IYR (RE fund) is falling HARD today...why today?   Anybody have any insight on why this is down 4%+ today (why now?)???

Wed, 10/05/2011 - 12:50 | 1741872 buzzsaw99
Wed, 10/05/2011 - 13:11 | 1741953 Panafrican Funk...
Panafrican Funktron Robot's picture

1.  The enhanced FHA and GSE loan limits expired October 1st (in many markets, this was a 15% drop in the limits).  

2.  It's looking increasingly likely (though definitely not a done deal) that the mortgage interest tax deduction might get killed.

Reason 1 is why it's probably going to be below 50 for the short term, Reason 2 is why it may get below 30 in the medium term.  

Wed, 10/05/2011 - 13:28 | 1741996 hambone
hambone's picture

gracias Mr. Funk!

Wed, 10/05/2011 - 12:39 | 1741821 Joebloinvestor
Joebloinvestor's picture

"Alternative lending modalities" sounds like Nigerian scammer speak.

Wed, 10/05/2011 - 12:45 | 1741846 catacl1sm
catacl1sm's picture

I haven't gotten any e-mails from them lately. Are they still around?

Wed, 10/05/2011 - 12:41 | 1741828 Wakanda
Wakanda's picture

barn animals?  Do you mean barnyard animals?

Wed, 10/05/2011 - 12:46 | 1741834 totem
totem's picture

There just has to be a group of displaced sitcom writers somewhere sitting in a room putting this storyline together!

Sadly, to save money, they'll eventually be replaced by a boring random [*] red/green light that tells everyone when to SELL and BUY.

[*] But for a price, you can be notified when the next signal change occurs...

Wed, 10/05/2011 - 12:44 | 1741840 Dick Darlington
Dick Darlington's picture

It's too funny that these same sociopaths in IMF, European governments, EU-dictatorship, ECB etc always blame EVERYTHING on "fear mongerers" and speculators spreading rumors. Yet all they do (and, well, all they have left) is exactly the same.

Wed, 10/05/2011 - 12:45 | 1741842 PulauHantu29
PulauHantu29's picture

Kyle Bass update:

Yesterday Bass stopped by CNBC, (but did not appear on the network) and provided the following update to producers:

"I believe that Germany and the balance of the Eurocrats will attempt to default Greece within the euro zone first. The frictions associated with such an event will prove to be problematic and the usual benefits of a substantially weakening currency that would historically accrue to the country in default will not be available to Greece.  Greece will therefore be forced to go back to the drachma at some point in the near future.

"In the end, it is most likely that after Greece and the next peripheral country begin to hard default, Germany will exit the [European Monetary Union] and recapitalize their own banks.

 

http://dailybail.com/home/update-kyle-bass-on-europe-germany-and-greece-...

Wed, 10/05/2011 - 12:47 | 1741858 catacl1sm
catacl1sm's picture

Sounds exactly like what Max Keiser said yesterday on the Keiser Repor'.

Wed, 10/05/2011 - 14:19 | 1742153 JW n FL
JW n FL's picture

 

 

Kyle needs to stop being a parrot!

if he spent less time in the islands and more time at work?? NOT! going to happen!

Wed, 10/05/2011 - 12:46 | 1741853 TradingJoe
TradingJoe's picture

It is indeed becoming comical to what extent these rich fucks lie just to cover their bad bets that they still had put on AFTER 2007/2008!!! Me think the Europeans try to pull a US Style Tarp to "cover" for the rich!!! Me also think that this extend and pretend is nothing but..."get me out higher" and short the fucking shit Then!

It's hillarious! Me further thinks "crash" will be unexpectedly "expected" by all insiders here(Europe) and across the pond (US), retailers if still in(must be some crazy momo chasers out there) wil be left holding the baggs, either way!

Wed, 10/05/2011 - 12:47 | 1741857 PulauHantu29
PulauHantu29's picture

More Kyle:

 

"After recently conducting a population study on the German people, we have determined that the overwhelming majority of the people of Germany think that they would be better off never having formed the euro in the first place. Two thirds of the people do not think that they have any obligation to bail out profligate members of the EMU. The market's hopes rest upon Germany and the [European Central Bank] going 'all-in' at some point in the future. I don't think that is likely at all.

"There is no playbook for how the world will most likely deal with a cluster of sovereign defaults...I believe it will all read like fiction from here. The organizers and members of the EMU are desperate and have nowhere to turn. The circular references of the optical backstops [International Monetary Fund and European Union] are showing in broad daylight."

 

I am guessing the Germans feel that Greece lied to enter the EU and therefore breached their "contract" so to speak....thus, the Germans feel no legal (or moral) obligation to honor any EU provisions dealing with a breacher.

 

Does that make sense?

Wed, 10/05/2011 - 12:51 | 1741880 catacl1sm
catacl1sm's picture

The problem is that it DOES make SENSE. So, TPTB will do something else to CYA. Most likely they'll sacrifice Merkel and Germany will bailout the entire EU.

Wed, 10/05/2011 - 14:26 | 1742185 letitgo
letitgo's picture

Hi guys,  That research doesn't reflect what I see and feel living here in Germany.  Over and above the fact that no one here seems ever to talk about leaving the euro, there are two main reasons they never would go it alone and leave (speaking as a German speaking non-German living in Germany):

1.TPTB in Germany want their currency to be as weak as possible and will try to avoid letting weak countries out of the euro for this reason (Merkel even said this outright last week), so leaving the eurozone themselves and suffering the massive currency appreciation that would entail is diametrically opposed to all powerful German interests and the opposite of the clear game-plan in Berlin.

2. Most post-war Germans have an ingrained desire to cooperate with and sacrifice a great deal for their neighbours (probably as a result of the somewhat over-the-top education they received after WWII).  This "wir haben eine Geschicte" complex makes them very strongly pro-Europe as a concept, a principles support so strong that the concept of Europe would probably even prevail over economic interests if they were opposed to each other in a referendum (as hard as this might be to understand for non-Germans).  They've spent 50 years playing down their profile in Europe because of their history, so they aren't now about to go all unilateral and controversial and leave the eurozone (which they see, rightly or wrongly, as at the core of the cherished Euopean project).

Some context for the "research" that just extrapolates from survey results on a different question (whether Germans approve of an unlimited bailout or not).  I'd be interested to see what others with an insight into the German Zeitgeist think.

Wed, 10/05/2011 - 14:37 | 1742224 Shvanztanz
Shvanztanz's picture

I was a German-speaking Non German, living in Germany (GSNGLIG) too. It's a lot like a teetotaling drunk. People say what they want to believe, and deep down, they really want to believe what they're saying is true and they mean it, but when the wheel meets the road, it's always a different story.

Besides, there are two distinct classes in Germany, the professional and the working class and it goes back centuries to the Burgers (city folk) and the Bauers (farmers). When the Bauers rose up, the Burgers closed the gates. 

There are two different sets of Germans in Germany, and my bet is that the 1/3 that makes the promises rarely consults with the 2/3 that carry those promises on their backs.

But, all the same, props to a fellow non-German in Germany, good on you, keep it up, we're all counting on you.

Wed, 10/05/2011 - 14:53 | 1742280 letitgo
letitgo's picture

I agree that a lot of their pro-Europe obsession may be a largely rhetorical "article of faith", but wouldn't such a commonly-held rhetoric be enough to rule the minds of all Germans (with apologies to Plato).  Want to see how much Germans are prepared to pay for (largely rhetorical) historical and idealistic reasons: check out how much they spent on East Germany after the fall of the wall.

Also, with all due respect to a fellow GSNGLIG, I simply don't see the 2 out of 3 Germans "carrying promises on their backs".  Frankly, I think the German "disenfranchised" are doing a lot better than their equivalents in other countries where I've lived during this protracted crisis.  Their work and therefore salary is usually closely linked to the export industry supported by the low euro, yet they still have a lower cost of living than most of their neighbours (despite the currency devaluation).  The only Germans suffering are those who want to travel or buy PMs, but that's not 2/3 of the German population happily living a Spartan existence in a period of record low unemployment somewhere in Germany.

 

 

Wed, 10/05/2011 - 12:49 | 1741867 PulauHantu29
PulauHantu29's picture

Could a drahcma backed by Greek gold work?

Tyler (or other guru) can perhaps discuss this possibility?

How about raising from the dead the GeldMark for Germany?

Wed, 10/05/2011 - 13:00 | 1741917 Tyler Durden
Tyler Durden's picture

Not if Qatar gets all their gold first

Wed, 10/05/2011 - 13:50 | 1741974 GeneMarchbanks
GeneMarchbanks's picture

If Greece backs their Drachma with anything let alone Gold I encourage all Americans to move there. I know I will. It's possible not probable, I think Rickards talked about this somewhere.

Wed, 10/05/2011 - 12:52 | 1741878 Alvaro de Esteban
Alvaro de Esteban's picture

Haven´t heard the French regulator asking for severe actions against rumours and market manipulation this time.

Did you???

Wed, 10/05/2011 - 12:52 | 1741883 junkyardjack
junkyardjack's picture

Rick James style, F*ck yo couch!

Wed, 10/05/2011 - 12:59 | 1741914 Elliott Eldrich
Elliott Eldrich's picture

Money is a hell of a drug...

Wed, 10/05/2011 - 12:55 | 1741891 SheepDog-One
SheepDog-One's picture

Citi announces new fee hikes on checking accounts under $15,000 of $20 a month..Citi announces new fees on checking accounts - Oct. 4, 2011

..we're Bank of America and we're screwing YOU, but not near as bad as CITI! Bank of America Ad (Parody) by Mark Dice - $5 monthly fee for debit cards - YouTube

BTW in other news China and Russia just VETOED Obamas Syria resolution, shits about to boil over.

Wed, 10/05/2011 - 13:03 | 1741930 buzzsaw99
buzzsaw99's picture

bac website down for the sixth day.

Wed, 10/05/2011 - 12:57 | 1741906 walküre
walküre's picture

Germany won't pay. Period. End of story. It's not going to happen. Nobody inside Germany will make the call to transfer the money. NOBODY!

IMF was counting on German money to support the Greek tragedy.

Now IMF is struggling to find words to get out of it. IMF "demanding" that European banks get 200 billion or else.

Where is that money coming from? Nobody knows and nobody is going to make a move, unless Germany will pay. See first paragraph.

Closed loop but come November, Greece is de facto defaulting.

Wed, 10/05/2011 - 13:02 | 1741929 catacl1sm
catacl1sm's picture

I think the TPTB will say 'fuck you' the German people, sacrifice one of their puppets, and get Euro bailout approved. IMHO.

Wed, 10/05/2011 - 13:05 | 1741935 falak pema
falak pema's picture

Greeks are right now commiting suicide in droves. De facto fukked up good.

Wed, 10/05/2011 - 15:34 | 1742423 Smiddywesson
Smiddywesson's picture

Where is that money coming from?

If necessary to buy more time, it will come from The Bernank.

Wed, 10/05/2011 - 13:02 | 1741928 falak pema
falak pema's picture

Borges is POrtuguese and was VP of Goldman Sachs between 2000-2008 in London, where Abacus reigned supreme.

Wed, 10/05/2011 - 13:03 | 1741933 Schmuck Raker
Schmuck Raker's picture

Cluster-Fuck

Wed, 10/05/2011 - 13:09 | 1741946 catacl1sm
catacl1sm's picture

I saw an interesting statistic yesterday. Greece has been in default, or restructuring debt, 50.6% of the time since 1800. wow.

Wed, 10/05/2011 - 13:18 | 1741970 Tuco Benedicto ...
Tuco Benedicto Pacifico Juan Maria Ramirez's picture

The oligarchs actually need $100,000,000,000,000.00 over the next ten years.  Then they can fractionalize to infinity and beyond!

 

http://www.telegraph.co.uk/finance/financetopics/davos/8267768/World-needs-100-trillion-more-credit-says-World-Economic-Forum.html

Wed, 10/05/2011 - 13:19 | 1741975 Schmuck Raker
Schmuck Raker's picture

Practice makes perfect.

Wed, 10/05/2011 - 13:17 | 1741966 Duke of Con Dao
Duke of Con Dao's picture

you all want to see real market panic?

can you handle it? 

http://www.youtube.com/watch?v=ndtDZ-DQE1M

at the 10 sec point you can almost hear them screaming

SELL SELL SELL! 

Wed, 10/05/2011 - 13:20 | 1741978 Dick Darlington
Dick Darlington's picture

Well well well, look what the cat dragged in...

Biography    

In November 2010, Antonio Borges was appointed Director of the European Department of the International Monetary Fund. On taking up this new role, he relinquished the Chairmanship of the ECGI which he had held since the Institute was founded in 2002.

In June 2008, he was appointed Chairman of the Hedge Fund Standards Board. Formerly, he was Vice Chairman of Goldman Sachs International which he joined in September 2000. His responsibilities included investment banking, leadership development and strategy.

Prior to this he was Dean of INSEAD between 1993 and 2000. He joined INSEAD's faculty in 1980 and also taught at the University of Lisbon, Portuguese Catholic University and Stanford University. Between 1990 and 1993 Antonio Borges was Vice Governor of Banco de Portugal, where he took a leading role in the liberalisation of Portugal's financial system. He also worked at European level on the project of Economic and Monetary Union.

He graduated from the Technical University in Lisbon and holds his MA and PhD in Economics from Stanford University.

He has been a consultant to the US Electric Power Research Institute, US Treasury Department, OECD and the Portuguese government. He was a board member of Citibank Portugal, Petrogal-Petroleos de Portugal, Vista Alegre Group, Paribas, Sonae and Cimpor-Cimentos de Portugal. He is currently on the Boards of Jerónimo Martins and Sonae.com and is a member of the Supervisory Board of CNP Assurances. He chairs the Audit Committees of Banco Santander Portugal and Banco Santander de Negocios Portugal. He is on the Advisory Boards of several European and US corporations and foundations and is Chairman of the European Corporate Governance Institute.

He is a member of the European Corporate Governance Forum set up by the European Commission to examine best practices in Member States with a view to enhancing the convergence of national corporate governance codes and providing advice to the Commission.

http://www.ecgi.org/members_directory/member.php?member_id=5

 

All this just makes me wanna puke...

Wed, 10/05/2011 - 14:27 | 1742190 Shvanztanz
Shvanztanz's picture


From Al-Jazeera.net 

 

http://aljazeera.net/NR/exeres/B24F8E08-D96A-4BA8-9C39-9EFBEC2AC68F.htm?...

 

In Germany, the number of likely votes for the bankruptcy of the heavily indebted Greece is increasing, since the ruling Christian Democratic Party supports a contingency plan prepared by the Ministry of Finance to confront the implications of the bankruptcy of Athens when it occurs. Minister of the Economy, Phillip Roessler raised pressure aimed at organized default procedures. 

 

An official with the Bavarian Christian Party, the third partner in the government of Angela Merkel, called for Greece to exit the European Union for a period.

 

Berlin has increased pressure on Holland and Slovakia to pass a law to expand the powers of the European Rescue Fund, that the German Government sees as capable of keeping the Greek bankruptcy under control and to control its repercussions. 

Wed, 10/05/2011 - 15:01 | 1742303 letitgo
letitgo's picture

He said leave the "euro-zone", not the European Union (no one is suggesting they give up their free trade status etc).  Anyway, even if a few rogues think Greece might be able to get its house in order better if it leaves the euro for a bit, they will be worried about that setting a precedent to let others follow suit.  There's no way the CSU would support too many "weak" countries leaving the euro after its powerful supporters at BMW and the like tell it how much that would hurt their exports.

There's a reason why the only party to vote against the increase in the EFSF the other week was "Die Linke", a band of ex-East German communists and those considered too left wing for the more mainstream German parties -- though their leader did get some begrudging applause when he used the podium to say that his party would only support a bailout for workers, not a bailout for banks.

Wed, 10/05/2011 - 14:59 | 1742298 Bansters-in-my-...
Bansters-in-my- feces's picture

International Monetary Fund...+

Reuters....= Rothschilds.

Corrupt

Wed, 10/05/2011 - 15:37 | 1742435 Nobody For President
Nobody For President's picture

"...the phone call from Christine Lagarde to Borges in which she, in a calm, cool, and collected manner, with little to no use of obscenities, and references to the Spaniard's mother, grandmother, and barn animals, explained to him to, very credibly, say he was only kidding."

 

Geez Tyler, you have outdone yourself(s) - good thing I'm in the process of switching from coffee to booze as the last half/hour HFT injection takes place, and had nothing in my mouth at the time...


Wed, 10/12/2011 - 11:39 | 1765930 karmete
karmete's picture

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