Rumor Fatigue - BRIC Buying Half-Life Under One Minute

Tyler Durden's picture

While 30 minutes ago Brazil's Central Bank policy head Mendes spoke in Brasilia saying that the "Euro is less important in Brazil international reserves", and "Brazil seeks reserve currencies with solid fiscal positions", we are now supposed to believe a rumor cited by Reuters that BRICs are setting up for coordinated buying of European peripheral sovereign debt?

It appears Rumor Fatigue has taken hold as the market rallied 6pts and then sold it all back within the same minute:

Will the AMF be investigating this one?

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LawsofPhysics's picture

Investigating?  Are there any real human being even left in the building?

Chris Jusset's picture

I just heard a rumor that Oprah wants to buy PIIGS debt ... we're waiting on confirmation ...

Translational Lift's picture

a rumor cited by Reuters states that Italy will reciprocate and buy bonds from the BRIC!!


malikai's picture

That rumor was corrected with a rumor that Portugal/Greece will be buying HARPO bonds. We're certain that this will result in the defeat of eastasia as well as jubilant crowds spontaneously celebrating the increased chocolate rations.

ironmace's picture

Oceania, we've always been at war with Oceania.

pods's picture

Oceania, Eastasia, seems that as long as they are brown and on top of our oil we have no trouble bombing them.


redagain's picture

But where is all the money going? (google translated ) (in German) 


the comments. The Comments.

the day that never comes?


That’s all folks

Divided States of America's picture

QE3 = starting rumors at 3 o'clock on the dot and then letting the robots do God's work.

Spirit Of Truth's picture

Been a lot of rumoring likely via that giant hedge fund called Goldman Sachs to move the market up by a mere 250 Dow points.  My guess would be that GS has been selling into the strength being created because the $ started to rally and their massive carry trade positions started to unwind.  They needed an opportunity to get less vulnerable.

Just a guess.

Meanwhile, the dichotomy between the EU and US markets grows ever wider:

gjp's picture

That disparity is crazy, been watching it closely too.  Europe as a whole has better fundamentals than the US.  If Germans do allow Eurobonds and create greater fiscal union than you have something like the US with a much smaller trade deficit and less overall consumer / corporate (ex-financial) debt.  If the weak countries are expelled from the union, the currency is the only one with discipline in the world and Europe is on the way to reckoning with reality while US still stubbornly sits in la-la land.  The true reckoning has to be with US consumption, that is where the greatest imbalances lie.

arizona11912's picture

Euro-bonds to the rescue!!

BorisTheBlade's picture

Ok, enough of this nonsense, tell them that BorisTheBlade himself is bailing out the entire Eurozone, cited his holdings of gold in Ural mountains as proof of his seriousness. Oh, and he has a printer, that's also important.

malikai's picture

Ok, but you better be pretty damn serious about your printer!

BorisTheBlade's picture

You bet I am, if they refer to Ben Shalom as Ben the Helicopter, they will refer to me as Boris the Strategic Bomber, I can cover half of Europe with freshly printed banknotes in less than 24 hours. Please reserve this island for me in the first instance:

Long-John-Silver's picture

Does she understand she can't eat PIIGS? The extra "I" does not mean PIIGS taste better.

pods's picture

Things keep going the way they are, pretty soon we will all be eating PIIGS, Long PIGs.


mkkby's picture

Nobody without a printer is buying sovereign debt.  Ultimately Timmy and Bennie will hold it all.


Soul Train's picture


max2205's picture

“China is a poor country with only $4,000 per capita income. To talk and think about China to rescue countries with $40,000 per capita incomes is ridiculous.”

-Yu Yongding, a Chinese top economist and former member of the central bank’s monetary policy committee

GeneMarchbanks's picture

'Will the AMF be investigating this one?'

As soon as I get this STRIKE!

Popo's picture

Maybe they're "setting up" for buying European sovereign debt after rates hit 7000%?

SWRichmond's picture

Brazil seeks reserve currencies with solid fiscal positions

OMFG...fiscally bitch-slapped by Brasil.

fuu's picture

The macro pattern is the same as the nano pattern re: fractals?

Cdad's picture

Deploy the crocodile algo!

fuu's picture

A little low pass filter and a backbeat gets you a #1 dance track in Ibiza.

Lazlo Toth's picture

+ Guetta. I mean good is good, but too much is too much.

Unless you got Au that.

Long-John-Silver's picture

I could saw wood with that chart.

NotApplicable's picture

They way they're shaking the tree, you might not need to.

Belarus's picture

OT: Considering the market is roughly flat going in the 30 minute vapor rise, I expect a close near highs for the day. Sigh.

firstdivision's picture

With all the rumors, and oil making a mad dash above $90 for nothing more than Israeli/ME saber rattling while consumption deteriates, makes me wager that we are setting up for a fall next week that will be a repeat of '08.

Long-John-Silver's picture

It will be worse than 2008. All second dips are.

prains's picture

remember a terd has two ends to it, what matters is how long it takes between pushing and pinching (it off).



Long-John-Silver's picture

Turd pushing comes in waves.....

topcallingtroll's picture

The ramp up starts at the push. The freefall starts at the pinch.

topcallingtroll's picture

Many a slip betwixt cup and lip.

Ramp is no cinch, between push and pinch.

Bithead1's picture

My god, that was funny. I almost did the mountain dew spew.

Azannoth's picture

Cool so now the '3rd' world(the new capitalists) is bailing out the 1st (the old socialists) lol

GeneMarchbanks's picture

That doesn't make any sense because(in my understanding of capitalism) there are no bailouts. Free to discuss amongst yourselves I'm feeling a little... a little verklempt.

BorisTheBlade's picture

You are right, in that sense pure capitalist is something you can see in the museum.

AldoHux_IV's picture

Sooner or later these hopium wars will end in the realization that the world is insolvent and no amount of excess reserves in any country can prop up the weight of debt around the world so these monetary regimes will fall and crumble.  It would behoove these so-called more 'productive economies' to plan ahead (which I'm sure they are to a certain degree) and not continue to weaken their future position by wasting away their current reserves on untenable situations like the euro or most sovereign debt issues that plague the world economy.

Smiddywesson's picture

Sooner or later these hopium wars will end in the realization that the world is insolvent and no amount of excess reserves in any country can prop up the weight of debt around the world so these monetary regimes will fall and crumble. 

Truer words have never been written.  In fact, I would go a bit further and state that the game is nearly over, and they know it, so all of this smoke and mirrors is to blind us to TPTB buying gold.  We are all locked in steerage discussing Greece while they all scamper aboard the lifeboats.

mayhem_korner's picture


You've been saying a lot that the smackdown of PM's is correlated with CB and TPTB buying.  Any smoking gun links, or are you just stating what you see with yer two eyes?  I'm curious as I my instinct is you're correct, but I've not connected dots with enough conviction...

Dick Darlington's picture

Next in line for the worthless PFIIGSB-PAPER will surely be the cyber buyers from another galaxy.

Nascent_Variable's picture

So, bullshit rumors of ineffective bailouts are becoming ineffective themselves.  I'm genuinely excited to see what they try next.

I wonder if any psychics have weighed in on Greece's future yet.  Astrologists, maybe...

fuu's picture

Well the TA people are all over it so...

Segestan's picture

Don't know, but perhaps the church might step in and edict Honest Accounting as a  ... Vice.

Hephasteus's picture

Don't know. But I do know some astrolgers that just frikkin nailed the whole Libya thing. 2 months of trouble before they got him and now they are right in the middle of a shitstorm. The people are not going to accept the new government.

wisefool's picture

Also. If you ever deal with the MSM, They will go cramer on you unlesss your charitable gets nion-taxed on a rusty metal.

Long-John-Silver's picture

The MSM is becoming irrelevant every passing day. Glenn Beck's on-line network now has more subscribers than Oprah Winfrey's cable show (OWN) has watchers.