A combination of neutron elastic and inelastic, resonant x-ray scattering, and 57Fe Mössbauer experiments are used to determine the unusual magnetic ground state of CeFe2. The complementarities between different time-scale techniques may allow one to understand the dynamic features of the ground state in CeFe2 and its pseudobinary compounds, and how the frustration of Fe tetrahedra leads the appearance of antiferromagnetic fluctuations in the presence of ferrimagnetism. The resulting model can be used to rationalize many of the unusual and conflicting experimental results reported for this material in the literature.