Paradox in storyline/Penrose plot?

Rating: 4/10 (2 January 2005)

Is there something I'm not getting, or have the producers gone "Star trek" on us?
A) At some point Ocean contacts retired master-thief La Marque to help raise the millions (this is revealed near the end of the movie).
In order to do this, they decide to lure the current millionaire and master-thief Toulour (the Nightfox) into challenging Ocean to a contest and make him loose. So...
B) ...They set up the scene at the yacht. The banker, the Nightfox and La Marque have the conversation where the banker mentions Ocean as the greatest thief of all time.
The Nightfox is insulted and decides to challenge Ocean to prove who is the best. In order to force Ocean to accept the challenge...
C) ...the Nighfox calls Terry Benedict (the guy they robbed in the first film) and lets him know where to find Ocean's gang. Benedict tells Ocean he gets to live if he can repay the money they stole.
Now Ocean desperately needs money, so...(goto A).
The events are looped! Have I misunderstood something or did they Hollywood scriptwriters pull of a Penrose plot (An impossible sequence of events)? :)