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EURUSD Sliding On Anti-Rumor From Europe - Headlines "No More Money To Greece From Eurozone, IMF"

Tyler Durden's picture


This is not the rumor that the central planning doctor ordered. This time from Dow Jones:

  • No Intention By Euro Zone, IMF To Give More Money To Greece, Say Dow Jones Sources -DJ
  • Major Greece creditors made clear EUR130 bn bailout loan "won't be increased by a single euro" - DJ

It remains to be clear if Greece will even get the €130 billion loan still, but that is a different story. EURUSD, and stocks, not happy.


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Mon, 01/23/2012 - 13:12 | 2089220 misterc
misterc's picture

We Germans have a bottomless pocket, so we will pay all bills in the world. 

Mon, 01/23/2012 - 13:19 | 2089253 Bunga Bunga
Bunga Bunga's picture

Versailles was only a short warm up.

Mon, 01/23/2012 - 13:23 | 2089278 Popo
Popo's picture

LaGarde is just trying to look like a tough cookie before Davos. 

Mon, 01/23/2012 - 14:39 | 2089639 jeff314
jeff314's picture

Legarde should be her name...

Mon, 01/23/2012 - 17:17 | 2090266 cranky-old-geezer
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LeGarde says collapse in demand could lead to global depression.

That's already happening in the general economy.  Demand for non-essentials is collapsing already, and housing is in full collapse.

Of course she doesn't care about the general economy. 

She's talking about collapse of demand in financial markers, specifically collapse of buy-side demand for sovereign debt bonds.

And yes it would lead to global depression financial markets this time, not the general economy (already in depression).

She's warning the sovereign debt bubble will collapse unless somebody keeps buying the stuff, inferring ECB should keep buying it ...or start buying it ...or start buying more of it.

She's admitting IMF can't keep buying it, they're running out of money.

I would welcome a sovereign debt collapse.  Bring it on.  Nobody buys any more sovereign debt.  Pop that last remaining bubble in the financial world.  Watch euro sovereign debt collapse.  Watch US sovereign debt collapse too.  And yields skyrocket.

It's happening in Greece now.   Greece govt bonds are collapsing in value, yields skyrocketing, because nobody wants them

...except hedge funds ...because they think they'll be able to sue Greece for full recovery ...which ain't gonna happen.

Mon, 01/23/2012 - 13:23 | 2089281 misterc
misterc's picture

"Siam pronti alla morte. Siam pronti alla morte, L'Italia chiamò."
Excerpt from the Italian national anthem ("We are ready to die, we are ready to die, Italy has called") 

Mon, 01/23/2012 - 13:33 | 2089320 Ghordius
Ghordius's picture

The most ironic national hymn of all. Italy never calls, or at least not the right number... I usually sing it under the shower, right after Einigkeit, Recht und Freiheit...

Mon, 01/23/2012 - 14:36 | 2089620 Ahmeexnal
Ahmeexnal's picture

but it has already come...the call of Cthulhu. As we have now entered the year of the water dragon....the year of Cthulhu.

Mon, 01/23/2012 - 17:10 | 2090263 silverserfer
silverserfer's picture

A delicious meat Cthulhu? The end was never so tasty!

Mon, 01/23/2012 - 14:41 | 2089652 Dcheeth2
Dcheeth2's picture

Ironic. From the world's greatest surrender monkeys. 

Mon, 01/23/2012 - 15:13 | 2089831 ATM
ATM's picture

I think that would be the French.

The Italians have simply perfected the art of the full on retreat.

Mon, 01/23/2012 - 18:58 | 2090648 Calmyourself
Calmyourself's picture

Two cheapshots:

Why does the new Italian navy have glass bottom boats?  To see the old Italian navy..

For sale: French rifle never fired, only dropped once.

That is all.

Mon, 01/23/2012 - 13:37 | 2089335 GOSPLAN HERO
GOSPLAN HERO's picture

Treaty of Versailles screwed the Germans.

End result: it made the world safe for National Socialists and Commies.


Mon, 01/23/2012 - 13:51 | 2089404 Randall Cabot
Randall Cabot's picture

It was a doublecross of immense proportions, enough to trigger mass insanity to a large part of the German population.

Mon, 01/23/2012 - 14:07 | 2089468 HedgeAccordingly
HedgeAccordingly's picture

13 handle sell off accompanied this headline.. robots caught the ES pricicely at day's support 1305

Mon, 01/23/2012 - 13:29 | 2089310 slaughterer
slaughterer's picture

Quick, someone wheel Dallara or Ackermann out with some "Greek debt deal is sealed" statement.  

Mon, 01/23/2012 - 14:26 | 2089558 Silver Bug
Silver Bug's picture

Greece needs to go bankrupt now! Why sell off all of your valuable assets, and then go bankrupt! Go bankrupt and restart with your assets that have some real value!

Mon, 01/23/2012 - 16:50 | 2090204 dracos_ghost
dracos_ghost's picture

"No soup for you... NEXT"

Mon, 01/23/2012 - 13:12 | 2089221 Gubbmint Cheese
Gubbmint Cheese's picture

turn those machines back on.. turn those machines back onnn...

Mon, 01/23/2012 - 13:14 | 2089222 GeneMarchbanks
GeneMarchbanks's picture

Greece is out. Iran spigot about to be turned off for them. They want them to beg...

Mon, 01/23/2012 - 13:14 | 2089223 LawsofPhysics
LawsofPhysics's picture

Come on now, many bought the rumor, apparently someone forgot to fix the news.

Mon, 01/23/2012 - 13:23 | 2089274 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

It's as if the bankers are telling the technocrats to crush the system!  I wonder, is it because the system is about to fall apart in front of everyone anyway?!  Hmmm....

Mon, 01/23/2012 - 13:52 | 2089410 Randall Cabot
Randall Cabot's picture

I love the smell of rumor buyers crashing anf burning.

Mon, 01/23/2012 - 13:13 | 2089226 Joe Davola
Joe Davola's picture

Yeah right, what's the half-life of this round of tough love.

Mon, 01/23/2012 - 13:14 | 2089229 SheepDog-One
SheepDog-One's picture

Probly 'good news' somehow or other for US bubble equities though I'm sure.

Mon, 01/23/2012 - 13:17 | 2089238 DoChenRollingBearing
DoChenRollingBearing's picture

Not that big a drop..., yet.

Still marveling over Tyler's weekend article about Greece and their bonds if they default.  A masterpiece.

Mon, 01/23/2012 - 13:17 | 2089239 ZippyBananaPants
ZippyBananaPants's picture

Does anyone know if Seal and Heidi Klum are really gettting divorced?



Mon, 01/23/2012 - 13:20 | 2089260 Janice
Janice's picture

Who 'dat?

Mon, 01/23/2012 - 13:40 | 2089347 GOSPLAN HERO
GOSPLAN HERO's picture

Seal is a butt ugly homie.

Mon, 01/23/2012 - 13:58 | 2089415 Randall Cabot
Randall Cabot's picture

What the hell was she smoking?

Mon, 01/23/2012 - 14:07 | 2089467 Lord Blankcheck
Lord Blankcheck's picture

he's penis

Mon, 01/23/2012 - 14:09 | 2089480 Conrad Murray
Conrad Murray's picture

Big black dong, duh.

Mon, 01/23/2012 - 13:18 | 2089247 The Axe
The Axe's picture

all news good...stocks must go up......Brian must be out to lunch.......NY Fed traders are all hung over after Giant game....please wake up and buy.......

Mon, 01/23/2012 - 13:20 | 2089255 yogibear
yogibear's picture

This took the EU way too long to do!! Linger and lies. Next onto the next member of the PIIGS that should have never been allowed in the EU.

Take out all the weak countries in order to survive.

Mon, 01/23/2012 - 13:21 | 2089259 monopoly
monopoly's picture

And we here at Zero Hedge are prepared for this. Posts all weekend about the possible outcome of this latest farce. Glad to be out of this broken, corrupt market.

Mon, 01/23/2012 - 13:21 | 2089262 slaughterer
slaughterer's picture

Rumor battle day.  Wait for the bullish counter-rumor in 15 minutes.  

Mon, 01/23/2012 - 13:24 | 2089277 kurzdump
kurzdump's picture

Rumors, the new weapons of financial mass destruction. Let's print rumors instead of fiat - probably more efficient as it has immediate effect on the markets.

Mon, 01/23/2012 - 13:24 | 2089283 slaughterer
slaughterer's picture

CDSs no longer are valid.  We only have OTC "rumors" now.  They are exchanged on a completely deregulated market too!

Mon, 01/23/2012 - 13:22 | 2089270 slaughterer
slaughterer's picture

US is "decoupled" from Greece.    Nothing about Greece matters anymore.  /sarc

Mon, 01/23/2012 - 13:32 | 2089290 ACP
ACP's picture

IMF "loan"? What kind of a BS term is that?

Try IMF GRANT. When you don't ever get your money back, it's called a GRANT. Fucking European schmucks.

Germany needs to learn that remembering their history of hyperinflation means nothing if they don't prevent it from happening again. The Greeks lived off the ocean for thousands of years. Let them go back to their roots.

Mon, 01/23/2012 - 13:26 | 2089292 forexnovaco
forexnovaco's picture

traders dont care if things move up or down. as long as it moves they make money riding the waves. if the market moves up or down the journalist will always discover (sarc) some news why its moving.

 price is king

trade what you see not what you think and cut your losses short and let your profits run that is the way to make money in this broken market

Mon, 01/23/2012 - 13:34 | 2089331 rsnoble
rsnoble's picture

Plenty of good technical traders are getting fility rich.  The ones that say it doesn't work just don't know what they're doing.  I can say this because i've witnessed it for sometime now first hand.  Too bad im a broke bastard that paid off all his debt and don't have any left to play the game.

Mon, 01/23/2012 - 13:31 | 2089316 rsnoble
rsnoble's picture

Does this mean buy the dip and wait for the damage control headlines tomorrow? Or will reality make a difference for more than 1 day?  Too bad all the normal people could probably make a good go at civilization but when the trillionaires are in trouble bombs start dropping. Problem is bombs today are just a little more advanced.

Mon, 01/23/2012 - 13:33 | 2089322 AC_Doctor
AC_Doctor's picture

Time for Germany to fire up the Panzers! 

Mon, 01/23/2012 - 15:00 | 2089754 Instant Wealth
Instant Wealth's picture

Wait - when calculated per capita, Greece has the largest tank army in Europe ... hmm, but on the other hand, it seems like they forgot to buy the ammo.

Mon, 01/23/2012 - 14:03 | 2089339 Dr. Engali
Dr. Engali's picture

Will we be talking about Greece this time next year? It's like a fart in an elevator that just lingers around forever.

Mon, 01/23/2012 - 16:26 | 2090121 drider
drider's picture

Although Greek, I have to say that I really enjoyed your comment :-)

Mon, 01/23/2012 - 13:42 | 2089363 sabra1
sabra1's picture

they won't get any more euros, doesn't say anything about getting more greenbacks!

Mon, 01/23/2012 - 13:45 | 2089373 bgilliam83
bgilliam83's picture

Karl Denninger I told you so deflation article to commence in 3...2...1....

Mon, 01/23/2012 - 13:50 | 2089401 DutchMadness
DutchMadness's picture

I ' m out and well.  I bought a little house in a small village in Austria, surrounded by small farmers with cows, pigs and vegetables. And a river with mountain-fresh water nearby. Gold and silver coins, a foodsupply,  some cash in different forms, and a 4WD Jeep. Some beer-rounds in the local Bierstube to make friends does the rest. Goodbye to the financial illusionists.



Mon, 01/23/2012 - 13:54 | 2089413 Irish66
Irish66's picture

I'm jealous

Mon, 01/23/2012 - 14:14 | 2089500 francis_sawyer
francis_sawyer's picture

Obama wants to know if you speak Austrian...

Mon, 01/23/2012 - 15:09 | 2089808 forexnovaco
forexnovaco's picture

lol but still better than bush who talked about the kangaroos in austria. yeah i know austria is so close to australia never mind. would be cool if austrian is the name of our language but i think the germans would be pissed when they all of a sudden speak austrian not

Mon, 01/23/2012 - 14:24 | 2089548 forexnovaco
forexnovaco's picture

Liebe Gruesse aus Wien. really nice here except for all the socialists lol

Mon, 01/23/2012 - 14:30 | 2089585 Frank N. Beans
Frank N. Beans's picture

in your dreams, Dutch

Mon, 01/23/2012 - 15:55 | 2090005 battle axe
battle axe's picture

You better buy guns and ammo, or else you will not have your house/4WD jeep/gold and silver.....

Mon, 01/23/2012 - 14:08 | 2089478 pazmaker
pazmaker's picture

eur/usd still holding above 1.30

Mon, 01/23/2012 - 14:28 | 2089577 forexnovaco
forexnovaco's picture

called retest lets see if it holds to get more upside this week. weekly chart switched bullish with a massive bullish divergenz. 1,3324 is my upside target. lets sit back and wait if the market offers more upside potential

price is king. trade what you see not what you think. may your trading be consitantly profitable

Mon, 01/23/2012 - 14:15 | 2089511 Madcow
Madcow's picture

around the world, people seem to not undersatnd that the primary reason they pay taxes - is to make sure financial speculators don't ever lose money.

Mon, 01/23/2012 - 14:24 | 2089552 fiftybagger
fiftybagger's picture

Silver For The People – The Blog

* Marc Faber – Equities are attractive relative to Government Bonds
* David Morgan Silver Vancouver Canada January 22 2012 TheSilverWatch
* PRECIOUS-Gold hits 6-week high on TOCOM, eyes on Greece
* Currency Wars – Iran Banned From Trading Gold and Silver
* Silver – 32.70 – Heading Into High Overhead Resistance Zone
* The International Forecaster SATURDAY, JANUARY 21, 2012
* Talk of Recovery is Orwellian in its Deception.
* Chris Hedges: Why I’m Suing Barack Obama
* United Welfare States of America: In 2011 Nearly Half The Population Received Some Form Of Government Benefit
* Pan American Silver set to acquire Minefinders
* USA Today Gives JP Morgan Free Pass
* Italy and Spain call for eurozone rescue fund booster
* Exposing Silver Mythology, Part I
* Talk of Economic Recovery Not Rooted in Reality
* If The U.S. Government Keeps Spending Money Like This We Are Doomed
* Will Gold Coins Suffer the Fate of the $10,000 Bill?
* Greg McCoach says Gold and Silver are Getting Ready for the Next Breakout–01-22-2012
* Gold-market rigging has many whistleblowers; they’re just always ignored
* Why Isn’t Illinois A Bigger Story Than Greece?
* Interactive Visual History Of Financial Crises Since 1810 – Note Where The Fed Arrives
* Sprott Silver Trust (PSLV) Premium Collapse Costly
* TacitOrdoSeclorum – Gold Manipulation Series (19 parts)
* US mint better stocked to supply silver coins in 2012: refiner
* Gerald Celente on Trend Forecasting and the Crisis of Western Civilization
* Wepollock – Kim Dotcom vs Corzine and Modern Day Letters of Marque

Mon, 01/23/2012 - 14:27 | 2089561 Spastica Rex
Spastica Rex's picture

Wake me up when Greece runs aground on a pointy rock and capsizes.

Mon, 01/23/2012 - 14:26 | 2089566 youngman
youngman's picture

I am awaiting the Greece news....I don´t know why...but it sounds Greece is forcing a 79% haircut on their existing they can issue more debt....and everyone is cheering it...who also have to issue more debt..but who will buy it when haircuts have now become the norm and at what price and interest would a normal investor buy it....OR...has the market just changed into the Central Bank Market...and no one else is the buyer but the money next week lets say...after Greece has their big announcment....and say they need to issue more debt....who will be the buyers...really???? strange huh?  and in another story..say you are the Greek Pension that had all that debt...and now your pensions value just dropped billions...but yet your costs stayed the same ...whats a mother to do....

Mon, 01/23/2012 - 16:00 | 2090023 battle axe
battle axe's picture

Go back to thhe Drachma. I am sorta joking, because everything you say is true "Youngman", I have  yet to figure how this is going to work, and how the CDS are not triped. Also as you said, who the hell is going to buy any new issuence of Greek debt with haircuts are considered the new normal, except maybe the ECB. 

Mon, 01/23/2012 - 16:30 | 2090125 forexnovaco
forexnovaco's picture

that is why tyler durden is so fixed on the greek PSI negotiation which will break the whole government bond market. lets see if the hedge funds with the blocking stake have the balls to blow the bond market up.

by the way great analysis Tyler keep it up and coming. real appriciate your input .thx

Mon, 01/23/2012 - 16:09 | 2090050 falak pema
falak pema's picture

I'm always amazed by these graphic presentations; you get the feeling the world falls down Niagara falls, and then you look closely and the EUR/USD rate has gone down from 1.3047 to...1.3017.... a drop of, I couldn't get a beginning of a dikk twitch on that, let alone a Hard on, but the market hits the sky; I wonder why...Billions on a 3 per thousand rise means... millions...I get it....what a crazy world this is...if you're hooked on money money, like white powder dirt.

Mon, 01/23/2012 - 16:07 | 2090056 eurusdog
eurusdog's picture

Doesn't change anything. Short squeeze is still on. Max pain on both sides at 1.3500

Mon, 01/23/2012 - 21:19 | 2091005 HAhyperion
HAhyperion's picture


German banks did not mind floating the weaker EU countries as this supported German exports.  The Germans took the Southern EU children to the county fair loaded them up on cotton candy, hot dogs, soda and ice cream.  Now, when a laxative or cure for sour stomach is needed (debt forgiveness or bond holder "haircuts") are not in the offing.  The Germans (banks) want it both ways. 


At the time the Euro was originated it was Thatcher who was the loudest opponent stating "didn't the whole world have to go to war twice to stop these people."  And who designs a single currency with no common Treasury (bond authority) or at least normalized tax structures across the continent.  


Now Germany will not yield and continues flogging austerity programs to further weaken the already weak EU nations.  All modern warfare being fought through financial and technology weapons of mass destruction.  


Hitler in his wildest dreams could not have imagined the coming German dominance of  Europe.  


Heard Draghi was hopping from trains to planes preaching the gospel of austerity across Italy and with no coins in pocket was seen humping a soda machine for a Coca Cola.


God help us all. 


Mon, 01/23/2012 - 23:00 | 2091250 boogerbently
boogerbently's picture

Good for USD and gold.....but is that good for the market....or the economy....or me?

I can't remember, what's the "last" algorhythm say?

