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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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Tue, 09/13/2011 - 15:21 | 1664857 LawsofPhysics
LawsofPhysics's picture

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

Tue, 09/13/2011 - 15:39 | 1664951 Chris Jusset
Chris Jusset's picture

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

Tue, 09/13/2011 - 15:42 | 1664973 Translational Lift
Translational Lift's picture

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

Bwaaaaaaa

Tue, 09/13/2011 - 15:50 | 1665006 malikai
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.

Tue, 09/13/2011 - 16:02 | 1665065 ironmace
ironmace's picture

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

Tue, 09/13/2011 - 16:38 | 1665179 pods
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.

pods

Tue, 09/13/2011 - 15:45 | 1664988 redagain
redagain's picture

But where is all the money going?

goo.gl/OYz0r (google translated )

goo.gl/9auGt (in German) 

 

the comments. The Comments.

the day that never comes?

 

That’s all folks

Tue, 09/13/2011 - 15:52 | 1665013 Divided States ...
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.

Tue, 09/13/2011 - 16:09 | 1665061 Spirit Of Truth
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:

http://finance.yahoo.com/q/bc?t=5y&s=%5ESTOXX50E&l=on&z=l&q=l&c=&c=%5EGSPC

http://finance.yahoo.com/q/bc?t=5d&s=%5ESTOXX50E&l=on&z=l&q=l&c=&c=%5EGSPC

Tue, 09/13/2011 - 16:35 | 1665170 gjp
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.

Tue, 09/13/2011 - 17:13 | 1665275 arizona11912
arizona11912's picture

Euro-bonds to the rescue!!

Tue, 09/13/2011 - 15:52 | 1665007 BorisTheBlade
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.

Tue, 09/13/2011 - 16:41 | 1665189 malikai
malikai's picture

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

Tue, 09/13/2011 - 17:01 | 1665235 BorisTheBlade
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: http://en.wikipedia.org/wiki/Lesbos

Tue, 09/13/2011 - 15:53 | 1665022 Long-John-Silver
Long-John-Silver's picture

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

Tue, 09/13/2011 - 16:39 | 1665184 pods
pods's picture

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

pods

Tue, 09/13/2011 - 15:39 | 1664953 mkkby
mkkby's picture

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

 

Tue, 09/13/2011 - 16:56 | 1665139 Soul Train
Soul Train's picture

GOLD STRONG TODAY. RUMORS HAD NO AFFECT.

Tue, 09/13/2011 - 20:14 | 1665665 max2205
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

Tue, 09/13/2011 - 15:21 | 1664858 GeneMarchbanks
GeneMarchbanks's picture

'Will the AMF be investigating this one?'

As soon as I get this STRIKE!

Tue, 09/13/2011 - 15:22 | 1664864 Popo
Popo's picture

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

Tue, 09/13/2011 - 15:35 | 1664932 SWRichmond
SWRichmond's picture

Brazil seeks reserve currencies with solid fiscal positions

OMFG...fiscally bitch-slapped by Brasil.

Tue, 09/13/2011 - 15:23 | 1664865 dwdollar
dwdollar's picture

Sawtooth wave?

Tue, 09/13/2011 - 15:31 | 1664901 fuu
fuu's picture

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

Tue, 09/13/2011 - 15:32 | 1664906 Cdad
Cdad's picture

Deploy the crocodile algo!

Tue, 09/13/2011 - 15:35 | 1664931 fuu
fuu's picture

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

Tue, 09/13/2011 - 17:08 | 1665263 Lazlo Toth
Lazlo Toth's picture

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

Unless you got Au that.

Tue, 09/13/2011 - 15:24 | 1664868 Long-John-Silver
Long-John-Silver's picture

I could saw wood with that chart.

Tue, 09/13/2011 - 15:35 | 1664925 NotApplicable
NotApplicable's picture

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

Tue, 09/13/2011 - 15:24 | 1664872 Belarus
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.

Tue, 09/13/2011 - 15:25 | 1664875 firstdivision
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.

Tue, 09/13/2011 - 15:26 | 1664882 Long-John-Silver
Long-John-Silver's picture

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

Tue, 09/13/2011 - 15:26 | 1664879 prains
prains's picture

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

RUMOR MILL 101

 

Tue, 09/13/2011 - 15:29 | 1664890 Long-John-Silver
Long-John-Silver's picture

Turd pushing comes in waves.....

Tue, 09/13/2011 - 15:31 | 1664904 topcallingtroll
topcallingtroll's picture

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

Tue, 09/13/2011 - 15:29 | 1664893 topcallingtroll
topcallingtroll's picture

Many a slip betwixt cup and lip.

Ramp is no cinch, between push and pinch.

Tue, 09/13/2011 - 15:40 | 1664962 Bithead1
Bithead1's picture

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

Tue, 09/13/2011 - 15:26 | 1664883 Azannoth
Azannoth's picture

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

Tue, 09/13/2011 - 15:35 | 1664928 GeneMarchbanks
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.

Tue, 09/13/2011 - 15:56 | 1665032 BorisTheBlade
BorisTheBlade's picture

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

Tue, 09/13/2011 - 15:27 | 1664884 AldoHux_IV
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.

Tue, 09/13/2011 - 15:56 | 1665031 Smiddywesson
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.

Tue, 09/13/2011 - 16:37 | 1665177 mayhem_korner
mayhem_korner's picture

Smiddy,

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...

Tue, 09/13/2011 - 15:27 | 1664887 Dick Darlington
Dick Darlington's picture

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

Tue, 09/13/2011 - 15:28 | 1664889 Nascent_Variable
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...

Tue, 09/13/2011 - 15:32 | 1664913 fuu
fuu's picture

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

Tue, 09/13/2011 - 15:39 | 1664954 Segestan
Segestan's picture

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

Wed, 09/14/2011 - 07:14 | 1667761 Hephasteus
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.

Tue, 09/13/2011 - 15:29 | 1664892 wisefool
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.

Tue, 09/13/2011 - 15:34 | 1664922 Long-John-Silver
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.

Tue, 09/13/2011 - 15:30 | 1664895 buzzsaw99
buzzsaw99's picture

you gotta set the hook when they run like that. Lmao

Tue, 09/13/2011 - 15:30 | 1664900 Cleanclog
Cleanclog's picture

It could seriously be time to start punting on some of the commodities though

Tue, 09/13/2011 - 15:35 | 1664930 Long-John-Silver
Long-John-Silver's picture

Sell futures and buy physicals. Beans, Bullets, and Bullion.

Tue, 09/13/2011 - 15:32 | 1664908 Everybodys All ...
Everybodys All American's picture

SEC anyone....  Do they still punish false rumors?

Tue, 09/13/2011 - 15:34 | 1664921 buzzsaw99
buzzsaw99's picture

it depends on who profits.

Tue, 09/13/2011 - 15:33 | 1664916 YesWeKahn
YesWeKahn's picture

I know, I know, the next rumor would be "Iraq central bank" buying euro bonds.

Tue, 09/13/2011 - 16:41 | 1665190 pods
pods's picture

As long as they use $$ to buy them the USA don't mind.  Now if they use euros............

pods

Tue, 09/13/2011 - 15:34 | 1664919 jbc77
jbc77's picture

i wonder if the euro elite realize that the world is now fully aware that they have no idea what they are doing. Is it me or does this whole situation stink of absolute and utter desparation?

Tue, 09/13/2011 - 16:43 | 1665183 falak pema
falak pema's picture

you do realize this whole charade is NOT about Europe. Its about Europeans banks, the uber-elites of western finance. Nobody gives a shit about the 450 million people; but they give a big shit about the 0.1% whose money is run by these TBTF shills. The lolly of the  be all and the end all of this caper. And its the same story at the US; nobody gives a shit about the 300 million + sheeple, just the 0.1% Oligarchs. So what the jeezes are you sniggering about. Unless you are an Oligarch as well. This will clean out most of Main street on both sides of the pond...DO you guys know how to count...?

I know this charade turning from bad to worse its too mad to be taken seriously, but its consequences are not funny. Just too macabre.

Tue, 09/13/2011 - 15:34 | 1664924 TradingJoe
TradingJoe's picture

3:30 buy programms let s goooooo:)))))

Tue, 09/13/2011 - 15:35 | 1664927 Cdad
Cdad's picture

NEWS FLASH...BlowHorn [CNBC]  Bob Pisani...

"All is quiet."

Tue, 09/13/2011 - 15:36 | 1664938 GeneMarchbanks
GeneMarchbanks's picture

Lol-ing hard. You hate him, don't you?

Tue, 09/13/2011 - 15:40 | 1664958 Cdad
Cdad's picture

Hate him?  I feel sorry for the guy most days, what with the script flips the criminal syndicate Wall Street bankers toss at him each day.  He has to know that he is going down right along with the Ponzi...and he is too worried about making his mortgage to maintain even one single principle.

It is sad, really.

Tue, 09/13/2011 - 15:36 | 1664935 fishface
fishface's picture

 

source

http://www.infomoney.com.br/economia-e-politica/noticia/2208855-paises+d...

google tranlated

News
BRIC countries will discuss next week on possible aid to Europe
Comments: (0)
September 13, 2011 14h46 By: Tatiane Monteiro Bortolozi

SAO PAULO - Brazil, along with other BRIC countries, should discuss next week, ways to help Europe overcome the current economic crisis, according to Minister of Finance, Guido Mantega. "The BRIC countries will meet next week in Washington and will discuss how to help the EU out of this situation," said Mantega.

Tue, 09/13/2011 - 15:40 | 1664957 decon
decon's picture

wolf, wolf, wolf, wolf.....

Tue, 09/13/2011 - 15:41 | 1664965 totem
totem's picture

Rumor Mongering 101: Spread your rumor when the subject is unavailable for comment.

  • Use China for a US (morning) rumors,
  • Use Russia for a US (afternoon) rumors,
  • Use Brazil for European rumors.

Using Brazil for a US/afternoon session rumor?  C'mon Reuters, you guys know better than that!

 

--- Begin HFT fodder

Time for me to go long stocks!  This market is way oversold!!!

--- End HFT fodder

Tue, 09/13/2011 - 15:41 | 1664967 fonestar
fonestar's picture

I think they are running out of rumoured countries to buy up the Eurosludge.  Hey, maybe Krugman's aliens can buy some?  Banzai7 can you work with that one?

Tue, 09/13/2011 - 15:41 | 1664968 Jim in MN
Jim in MN's picture

Just in on RAN Squawk:

 

 

PIIGS shit BRIC in record time

Tue, 09/13/2011 - 15:42 | 1664971 firstdivision
firstdivision's picture

Wasn't 07 to 08 defined by rumors of subprime causing crisis/contained (depending on the wind)? This is getting too idiotic to have all these false rumors flying about unless people were putting on their bets that the market will swing the other direction.  Much like Goldman selling Abacus to clients and how housing has never collapsed, while buying insurance on every traunch.

Tue, 09/13/2011 - 15:52 | 1665014 Jim in MN
Jim in MN's picture

Volatility/panic/chaos is the trade.  Plenty of ways to make moola, especially when the new higher-speed cable is laid between NYC and Swingin' London. 

 

Tue, 09/13/2011 - 15:45 | 1664987 Gecko Junior
Gecko Junior's picture

Has anyone else noticed that right when I finish jerking off another BS rumor hits the airwaves???  Two days in a row now, wtf is that shit??? 

One minute my shorts are looking good (and around my ankles) and the next thing I know, pop!  Market rallies.  Maybe I should jerk off all day and wait til the close tomorrow... 

Tue, 09/13/2011 - 15:55 | 1665027 Belarus
Belarus's picture

Maybe I should jerk off all day and wait til the close tomorrow... 

You simply need to stop Bernanking it. 

Tue, 09/13/2011 - 15:58 | 1665042 HoardeBilly
HoardeBilly's picture

sooo....long kleenex and lotion?

Tue, 09/13/2011 - 15:48 | 1664998 Quadlet
Quadlet's picture

India's next...

Tue, 09/13/2011 - 16:00 | 1665050 firstdivision
firstdivision's picture

At this rate, they'll have to use Mongolia as the counterparty sooner than planned.

Tue, 09/13/2011 - 15:48 | 1664999 Smiddywesson
Smiddywesson's picture

But, but, I already popped the cork on the champaign.  Will this stuff go flat on me before the next bullish rumor?

Tue, 09/13/2011 - 15:48 | 1665001 Sudden Debt
Sudden Debt's picture

Damn... I thought this rabithole was a bit deeper than that....

 

Tue, 09/13/2011 - 16:23 | 1665138 Long-John-Silver
Long-John-Silver's picture

The only thing in this rabithole is the main ingredient for Hasenfeffer.

Tue, 09/13/2011 - 15:51 | 1665010 Silverhog
Silverhog's picture

Any word from Easter Island yet?

Tue, 09/13/2011 - 15:53 | 1665021 Jim in MN
Jim in MN's picture

They're all dead, but their CDS paid off and their bonus accounts are full.

Tue, 09/13/2011 - 15:52 | 1665015 unionbroker
unionbroker's picture

Hey i'm from Canada i want us to bail out Europe to

Tue, 09/13/2011 - 15:58 | 1665040 prains
prains's picture

Hey i'm from Canada i want us to bail out Europe to

 

you are by losing all your matches at the rugby world cup

Tue, 09/13/2011 - 16:31 | 1665160 falak pema
falak pema's picture

Offer them Quebec and its unlimited mineral reserves on a plate...Sarko would love it and so would Total.

Tue, 09/13/2011 - 15:54 | 1665025 Piranha
Piranha's picture

Someone knows when sarcozy and merkel is holding their pressconference tomorrow?

Tue, 09/13/2011 - 15:58 | 1665030 Piranha
Piranha's picture

Someone knows when sarcozy and merkel is holding their pressconference tomorrow?

sorry for double post

Tue, 09/13/2011 - 15:58 | 1665037 TJ00
TJ00's picture

New rumour, Mr John Smith of 32 Acacia Avenue is to bailout Greece by mortgaging his house subject to agreement from Mrs. Smith according to a source close to Mr. Smith AKA the Landlord of the Queen Vic.

Tue, 09/13/2011 - 16:04 | 1665076 razorthin
razorthin's picture

Indices been hugging the top of a descending triangle most of the afternoon.  We finally gap above it in the morning to work off oversold conditions, or we collapse to at least the bottom of it.

Tue, 09/13/2011 - 16:10 | 1665100 Deadpool
Deadpool's picture

thanx Dr. 20th Century...didn't you get the memo TA is horse pucky?

Tue, 09/13/2011 - 16:09 | 1665093 carbonmutant
carbonmutant's picture

Reserve currencies don't panhandle from the BRICs...

Tue, 09/13/2011 - 16:09 | 1665096 Georgesblog
Georgesblog's picture

The stage play is a comedy. The rats are running out of room, tripping over each other on the sinking ship. They will either turn cannibal or swim for their lives.

Tue, 09/13/2011 - 16:29 | 1665154 falak pema
falak pema's picture

wait till the arabs start bailing out the Euro. You ainst seen nothing yet. Every camel will be asked to contribute. in camel droppings.

Tue, 09/13/2011 - 16:30 | 1665158 SheepDog-One
SheepDog-One's picture

What happens when theres no one left to buy back the 1 minute pumps?

Tue, 09/13/2011 - 16:35 | 1665171 ParaZite
ParaZite's picture

I wonder what nation will step up tomorrow to save the world economy... I have my fingers crossed it's going to be Zimbabwe! :D

Tue, 09/13/2011 - 16:37 | 1665178 magpie
magpie's picture

I'll raise you, with East Timor and Transistria.

Tue, 09/13/2011 - 17:06 | 1665231 Hephasteus
Hephasteus's picture

There were no soldier deaths in august in Iraq. A radio talk show host was murdered. So that country is now fully governed by the psycopathic sociopathic ruling class. The soldiers will stick around until december. Government probably has to waste most of the dissenters to be on the "trusted" list.

So now the horrific hurdle is set up. Anyone bad enough to take them out is just as dangerous and horrific as they are so might as well stick with original horror show. The patronizing lock is on the gate. Now you run the scam. You can only beat us by being better than us. Then simply attack and destroy and perfect forever. Sick fucking fuckers.

Tue, 09/13/2011 - 17:09 | 1665266 Spigot
Spigot's picture

Its all FUD (Fear Uncertainty Doubt) which Microsoft used so well to destroy its competition and eventually to dominate the market. However, in this case the FUD is FOG (FEAR OF GOOF) which paralyzes all human market participants from making any Decisions, Commitments or Actions (DCA). No human DCA means the HFTs can FUQ (Fling Uncommitted Quotes) the ICH (Institutionally Committed Holders), which in term undermines the strength of all SSM (Slow Stupid Money).

Tue, 09/13/2011 - 18:10 | 1665461 cocoablini
cocoablini's picture

I heard Micronesia is buying Eurobonds. Time for a 200 pt meltup at 1:15!

Tue, 09/13/2011 - 18:19 | 1665480 mynhair
mynhair's picture

Are PIIGS Kosher?

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moxia19's picture

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