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After Hours Is The New 3:30 PM Volume Spike
No volume all day? No problem - luckily there is after hours to trade. The entire cumulative volume below average caught up to the normal in less than 30 minutes of AH trading. And guess what - all the volume to the downside. But no big surprise there.
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Your website has become horridly slow.
probably on your end
Plenty fast for me. But im on a 1000mb pipe =)
personal trading and stuff, at the job? and thats not a securities firms either is it?
well, now that i personally have experienced it, with a dual feed 3 megabit DSL on one port and 16 megabits on the other port - well i think its a time of day thing - there is finite capacity at Zero hedge to process messages such as this, from time to time - so, you wait, and wait, but DO NOT RESEND, or you will post a 'double' as i just did elsewhere on this site - no biggie, yet, but you guys and girls (At Zero Hedge) be-aware THAT already you need more hardware, and soon a bigger tcp/ip port too, first the hardware, NOW ASAP
I think Friday going to be a bad day for bulls.
There are more risk to the bulls everyday we come closer to September.
Not if some rube appears with cash and the still has the quaint belief that markets are too big to be controlled and thinks he has a system.
Not if some rube appears with cash and the still has the quaint belief that markets are too big to be controlled and thinks he has a system.
STFU
Not if some rube appears with cash and the still has the quaint belief that markets are too big to be controlled and thinks he has a system.
I put some shorts out about a half hour before the close today. First shorts since the rally begain in March. I'm not married to it and if we break through 1013, I'm out.
I've been getting my ass handed to me trying to catch a pullback (like many others)..., but then again it's all premium for leaps *shrug* Although Paulson f'd me like it was prom night with BAC.
what's the hurry, 725 is a no brainer
missing something and there is a pattern here established from prior pre-OPEX day option activity
my newest bookmarked finance site ..http://www..
hat tip: finance news & finance opinions
nice site, a sort of Reuters feed, OK good enough thank you thank you kind sir
Place your bets 45 minutes into the market - wait ! likewise before trade-day ends beware the switch RAVENs are quite clever - this is basic financial terrorism 101 - you place the first bomb to attract a crowd, and the police too by the way, then you set off the other(s) by radio control, at the right time...beware THIS options Friday
speed seems fine to me
Oh, I guess you missed the memo. The new word is no down-side trading during regular business hours. Need to keep that profit-taking out of sight of the sheeples, don'tcha know. Can't have everyone run bleating for the exits until the fix is in. We knew you'd understand.
Pisani has now taken to saying that the bulls want the market to go down - so that they can buy lower. Next call: "The market down 200 today is big victory for the bulls, who have been waiting for this!"
Pisani is a horrid looking whore
I believe he is Dennis Kneale's father
New Jim Willie is out... US experiencing dramatic capital outflows in certain asset classes. Ominious sign.
Monetization of USTreasurys In IsolationEvery few months a chart comes along that needs almost no follow-on paragraphs to make the point of the issue. The chart provided by CIGA Eric covers several important types of US$-based bonds, their inflow and outflow, and the aggregate GrandNet. The financial data is publicly available from the USGovt TIC Reports. The messages are clear. Inflows of foreign funds are dwindling. In the case of USAgency Mortgage Bonds and USCorp Bonds, the nation is witnessing something unprecedented, the net outflow of funds. This is outright rejection. This chart exposes the isolation problem of the USDollar in the bond world, clearly the most important market beneath the currency market. The printing press is the last option.
http://financialsense.com/fsu/editorials/willie/2009/0820.html
That is chart porn -- on the verge of Brazilian Snuff charting. I wonder what Ben Bernanke would have to say about that when testifying in front of Congress: "Chairman Bernanke, a constitutent presented me with this chart and his interpretation. Is this anything I should be concerned about? My constituent tells me he is now spending 45% of his disposable income at the gun shop in town because of what this chart is telling him."
hahaha well if it's too ominous try this funny cartoon
http://www.comixed.com/wp-content/uploads/2009/08/128938828849146716.jpg
OMFG thank you! I laughed so hard I couldn't see!
thanks, I am still laughing,
Afraid? yah its cute, Red Neck America you got some chavinistic hard time served coming - the world ain't all of South Dakota and Idaho, nor Kansas - 1938 already knew World War 2 was on the way - intimations from the Fujture - "Toto i think .... we aren't in Kansas, anymore" i assume this cartoon is your tongue in cheek ironic style coming out - didn't you like that 'junk' appellation - i did it my very self FYI
Fujture - Mitsubishi too, and Bayer fine companies all
Get the bullets with the green tips. They cost a little more but they are worth it.
http://www.gandrtactical.com/cgi-bin/commerce.cgi?preadd=action&key=8126...
Ah, green shoots?
http://www.budsgunshop.com/catalog/product_info.php?products_id=411536712
http://www.budsgunshop.com/catalog/product_info.php?products_id=411536712 not good enough for you to give me your physical commodity GOLD sorry - try THIS for inducing real conviction http://www.google.com/search?hl=en&q=20mm+sniper&aq=8&oq=20mm+&aqi=g10
hell, let go the max - i'll trade you two heavy water power reactors CANDU style natural 1.2% u235 fueled for a couple thousand centrifuges output of u235 @ 95% fair trade - see my agent in Tehran for details
Project Mayhem,
What's you take on the "Ka-Poom" theory?
wow haven't heard of it! thanks , checking it out now.
http://www.itulip.com/kapoomtheory.htm
kind of insurance buying is not particularly expensive. Such investors can even buy MORE equities with
my newest bookmarked finance site ..http://www..
hat tip: finance news & finance opinions
well true 'old school' fear "FEAR" and, oh yes also Hope, and too Greed for unearned income - at least lets get a little bit sophisticated here with http://www.google.com/search?hl=en&source=hp&q=kondratiev&aq=8s&oq=kondr... whom the Soviet planners hated, and executed - and whom Schumpeter http://www.google.com/search?hl=en&q=schumpeter+creative+destruction&aq=... admired - Creative Destruction (repeating myself here many times thus far on zero hedge)
well true 'old school' fear "FEAR" and, oh yes also Hope, and too Greed for unearned income - at least lets get a little bit sophisticated here with http://www.google.com/search?hl=en&source=hp&q=kondratiev&aq=8s&oq=kondr... whom the Soviet planners hated, and executed - and whom Schumpeter http://www.google.com/search?hl=en&q=schumpeter+creative+destruction&aq=... admired - Creative Destruction (repeating myself here many times thus far on zero hedge)
well true 'old school' fear "FEAR" and, oh yes also Hope, and too Greed for unearned income - at least lets get a little bit sophisticated here with http://www.google.com/search?hl=en&source=hp&q=kondratiev&aq=8s&oq=kondr... whom the Soviet planners hated, and executed - and whom Schumpeter http://www.google.com/search?hl=en&q=schumpeter+creative+destruction&aq=... admired - Creative Destruction (repeating myself here many times thus far on zero hedge)
i doubled - ah, i see, zero hedge DOES go slow sometimes in site response, or is it the honeypots i've placed - i wish !
are you a secret agent, helper of the massive 10 years 'transfer payments to the rich' i see a taint, a stench of idiologic crap, coming from you and your site 'off-site' from this site...pure populist gutter snipe...i repeat myself again, clearly...what a clever disguise, the poor mans helper? really, i can reverse engineer what you REALLY are saying and it smells of Death, of further Financial robbery of the poor, to help the rich, who really need it....sure thing, reverse engineer it, and the existentially real not-so-hidden agenda YOU have is clear
Okay, so it's interesting but I think it's missing a couple of things. I guess you could say I disagree with the "Ka" but agree with the "Poom".
The Fed has shifted to so-called anti-deflation policies but they have not managed to prevent M3 from beginning to roll over, from U-6 from going to 16.8% etc. All they did was give cash to their cronies and send narrow money up ~100% YoY. I think the problem with the Ka-Poom theory is that it assumes "incompetence yet benevolence" on the part of the Fed. On the contrary, my personal view is that the Fed is a malicious entitity acting out of its own self-interest rather than the national interest.
I agree with the second part. Capital will ultimately flee the dollar -- though I'm not sure interest rates will rise, nor I am certain when this will occur. I think it's possible it will occur by the end of 2009 -- definitely by 2010. The Fed can sacrifice the dollar or the USTbond complex, and I think they will sacrifice the dollar and end up owning the whole supply of Treasuries There are alot of weak points at which the dollar can break. I think One important weak spot is oil pricing. If Oil is priced in real, rubles, yuan, this weakens the dollar -- since implicitly it has been pricing in oil which has maintained the system since 1971. Another weak spot is current account deficit -- especially if foreign nations loan us money in their own currencies (Yen bonds, Yuan bonds, etc).
One thing to note though is that many currency crisis begin with speculative attack so perhaps that is something to watch for. Also a large bank failure / bank runs could cause temporary strength in the dollar, so I'd also watch for a powerful whipsaw in the currency markets. Volatility is increasing.
"The ground from under the currency market is shifting in an unstable fashion. See the British Pound Sterling in the last week. It has jumped up and fallen down by 200 basis points in several days. Even the Euro has shown unstable movement. That is akin to a hanging lamp in your study, or a displayed chandelier in the living room, and see it shift to and fro in grand swings. Something big is coming and soon. "
http://financialsense.com/fsu/editorials/willie/2009/0820.html
Seconded re. Sterling. Something is stirring and waiting to hit the fan stat ! It is having a hard time breaking the circa 1.6570 ceiling. Breakout coming soon, most likely to the downside.
most likely to the downside.
-------------------------------
"most likely"???? you mean it is likely to the upside OR most likely to the downside? Raymond, it is ok to not have an opinion, no need to pretend like you know anything
We had Sterling at $1.37 for a while there. My ex-wife' alimony was almost good value.
i know i know, texpat, the expat from the North Seas oilfields...
Thanks, I value your assessment. It's going to take me a while to absorb what you provided. I'm not one of those "kids in college who are absolutely genius and they don't need much to be presented to them to have a deep understanding of the presented issue and have 4.0 average etc." as referenced by Cheeky Bastard.
If you've the time, or anyone else that cares to critique it, look at the application of the Ka-Poom theory as applied to the 2001 Argentina collapse?
http://www.itulip.com/forums/showthread.php?p=106493
There are several apparent differences between the US and Argentina, not having a world reserve currency is a big one. The fact banks are not required to implement the recomendations required of IMF actions for other countries is another. However the actions of the (benevolent, ha ha), central banks, private corporations, rounded out with corrupt politicians, sound really similar.
Yeah, those IMF bastards!!! Tim Geithner, Larry Summers, no-name bastards.
yah, for a while, back some several Argentine currency collapses back, Argentina tried the Dollar Peg, as in Taiwan and HongKong - boy did that fail, Big Time, never again, now its stealing from workers retirement personal funds - the new deal in Argentina...but you see, really Argentina, unlike several other South American countries has nothing to offer other than beef and leather - worse yet across the Platt, with Uruguay - so they 'deserve' 'earned' failure - and of course 'hate the IMF, hate the World Bank, hate indirectly the Chicago School of Economists who 'brought them grief' thats all they ex-pats from Italy have to offer - nothing just a bunch of ex-pat Italians, ex-NAZI germans in the foothills of the Andies, and some indigenous people with whom you do not breed, nor consider social equals
Here's an alternate theory:
The UST strikes a deal with our creditors to pay them in trade dollars, whilst simultaneously devaluing domestic dollars for the long suffering debt peons. Until day 0, they buy our treasuries and we carry on. We promise to 'keep them whole'. Has the great advantage of screwing only the domestic populace, stimulating industry and avoiding another tiresome world war!
http://johngaltfla.com/blog2/2009/08/19/dualing-dollars-how-would-a-bifu...
Neo-dollars and Dodo-dollars. Elegant. World debt holders win and the populous get to stay in their bubble, financially deluded. And when greed arises, the central bank can increase interest with a mere change in exchange rate.
And we call for the three great stimulants
Of the exhausted ones
Artifice brutality and innocence
http://financialsense.com/fsu/editorials/willie/2009/0820.html the end is now! Really really really try and beat THIS guy, who predicted and continues to predict "the end" LaRouche of course! jailed for credit card fraud back in the 1980's he is apparently a Trotsky flavored Communist/Socialist/ nutcase http://search.yahoo.com/search;_ylt=A0oGk0dZSY5KSYwAcUdXNyoA?fr2=sg-gac&... and also the Wiki biography http://www.google.com/search?hl=en&source=hp&q=lyndon+larouche+wiki&aq=2...
note on that Wiki biography MASSIVE feedback, at the top, regards the correctness of the entry - thats the amusing 'feedback' from the LaRouche organization - recent by the way, since his wife is running for the top elected job in Germany - for the free publicity, just as LaRouche has run for President of the USA every election cycle since 1982 cute - the mind of a paranoid - nonschizophrenic type
When i read this type of thing, I start to understand all the "gold, guns, and food" talk on this blog.
Capital flight is the inescapable outcome of the actions undertaken by our government. I wrote this is January of this year:
http://seekingalpha.com/article/113011-2009-the-war-on-capital-ism-must-...
"Capitalism: an economic system characterized by private or corporate ownership of capital goods, by investments that are determined by private decision, and by prices, production, and the distribution of goods that are determined mainly by competition in a free market
This system relies utterly on respect for private property. That respect for private property is embodied in a judicial system to which all contract parties agree to be bound, and from which the parties can mutually expect rigorous enforcement of the terms of the contract. It is only under such protective circumstances that capital will venture forth; it is only under such circumstances that savers will loan their saved work and make productive economic activity possible. It is absolutely vital that this be clearly understood: failure of the legal system to respect private property and enforce contracts is the death of capitalism.
Not long ago, America was a favored destination for capital investment because of the protections offered by our legal system. This legal protection is being destroyed. In the past year this government jumped headlong into declaratory contract abnegation. With shocking speed our “Nation of Laws” was displaced by a “Nation of Men” who rule by decree, pick economic winners and losers, smash and nationalize businesses, and shred financial contracts, all while clearly demonstrating that they are, and know they are, above the law."
I like it.
ZH'rs et al, check out this article, you'll like it too:
http://jessescrossroadscafe.blogspot.com/2009/08/why-austrians-keynesian...
We are looking for a unifying theory in finance, in normal times the markets can be expressed in fundamental or technical terms (must be two different views of price to trade, which is positive for Wall Street and taxes).
Right now, we should focus on geo-political forces as we have become ungrounded. Once a company/country has passed the point of being able to pay off the principal portion of its debt and can only service interest with inflows it is technically a ponzi - and if the inflows stop it is insolvent. Now, if you are already bankrupt, does it really matter if you are "more bankrupt"? We have passed into imaginary numbers, the parabolic, and dark matter. I would like to look more into behavioral finance, government survival strategy, as well as Mandlebrot fractal geometry to describe our markets as the world has never been here before.
Thanks.
Global economies as they now are, is it possible to have one economic theory that is applicable for all?
http://jessescrossroadscafe.blogspot.com/2009/08/why-austrians-keynesian... - another soldier working on behalf of the 'kept class' as Veblen 1919 called them - no taxes the ultimate solution - thats pure parroting - i have no problem with 'transfer payments' whatsoever myself - call me a new Leninist and i wouldn't mind - though it would be yet another Great Simplication bound to bring trouble later - the whole process of compression via formulae, generally brings about signal loss - i want 'compression' of ideas without loss of essential information - that means no dogma, no ideology, no slogans, no Budda Guru leading sheep to slaughter - if you find the Budda, kill him please
I agree. In order to "fix" what would have been a temporary problem they're destroying institutions that took hundreds of years to build and will take generations to rebuild.
Similarly with offshoring and the destruction of an engineering culture that took generations to build and has been lost in a generation.
There's a whole infrastructure of interconnecting parts in an advanced economy and once one part gets destroyed, such as trust in accounting or the range of factories that build and maintain the manufacturing skills base, the ramifications spread much wider and take much longer to rebuild.
you really eat that stuff up, huh, knee jerker another loser coming big this Fall - you know nothing, just parroting what your "handlers" want you to think - great 'soldier class' talk, troop motivation, rabble rousing bullshit is what it is - pure Simplication for the simple minded - THATS NOT what 'Capitalism' is about at all, its about de-risking in the correct and honest manner, amongst Men of Honor, Men of their Word, Creators of the factories, and goods and services that KEEP your useless eater status from starvation, maybe you could lose a few pounds around the waist - bad for the heart you know
Thanks for the link. Jim Willie is like cold beer for a cotton mouth.
The gold COMEX action is hilarious. I just keep buying. Thank you Masters for keeping it so fucking cheap!
You think Gold is gonna save your ass, huh? amazing yet another poor dumb bastard going down, based on defunct economic theory of the early 19th century - eat well, drink well, NOW, for soon we all will die in the Long Run anyway - you buying? good, then i will sell unto you, and keep selling, til you choke King Midas
You neglect one important point...
In order to juice the markets, the Fed needs a willing and believable proxy accomplice (or more!) Preferably offshore to complicate traceability by any would be hero whistle-blowers at the SEC (or zero hedge for that matter! vbg)
What a great way for foreign banks to offload their trash - in exchange for carefully timed zero sum index futures buys and dollar dumps. Even if the foreign banks were to lose a little $$$, it would pale in comparison with what they might have otherwise lost without the trash dump.
Any guesses as to which countries those banks might be from? How about France, Germany, Japan, and jolly old England?
Ahhh! Nothing like a little positive GDP, huh?
vbg
pray tell, more please, please do, don't just tease, but please
Today's steady and peculiar runup of over 16 points in the S&P futures began around 7:00 am in what country?
On exactly what news?
p.s. - check the latest Fed balance sheet.
IMWTK
Yay, lets see some more red!!!! Hopefully today’s dollar action translates into a double bottom and we see a strong move to at least 98.65 for SPY tomorrow...
it's not news actually
keep shorting the stock market, but don't use margin
not 'shorting' on margin ? ALL shorting is on margin, whatever are you talking about? or do you simply 'mean' that there will be some question, at any given moment the 'status' of a given stock's availability for borrowing in order to short - another story, when the clearing back-offices can hardly keep up day to day, actually, and hardly moment to moment - not with the likes of Goldman, and a few other copycat bandits - trading at the speed of tcp/ip - just a bit short of the speed of light, but fast, really really fast
pin by day, and profit by night. It's all in a day's work for the hard working "liquidity" providers.
booths at the county fair are more closely regulated than the US equities market!!
Excellent comparison. I've been to a number of county fairs and this is not an exaggeration.
I smell melt up or is that patty melts. Good eighter way, humm.
The close today was less than 4 pts above last Friday's. Odds of a second consecutive red week are not bad.
odds? you play odds in the market, convergency to the mean and other statistical fictions? go to Las Vegas, where the 'odds' are totally reducible to the square root of the sum of the squares...and the house KNOWS the odds, sets the 'odds' and the customer at least has a 'measureable' chance of payout - enough to keep em coming, again, again and again...much safer 'odds' Houses such as Goldman do NOT play 'odds' but engineer the market, fix the market, for sure thing wins, and you call tommorrows action, 'odds'
Not surprised by this, many of the stocks I follow have been following this trend off and on over the last several weeks
you are about to 'trend follow' the lemmings right off the cliff into the ocean, very very soon i expect
May be initial claims data been leaked to these MMs ?? Anyone ? I saw lot of Aug call option buying for lot of overpriced stocks - CMG, GOOG... today.
And slightly off topic, but perhaps the market activity will be attributed by the media to the demise of the "Cash for Clunkers" program.
My definition of the program, in case you weren't familiar with it:
Cash for Clunkers: A welfare program for oil-lusting Americans where we borrow money from China to buy cars we otherwise couldn't afford (or may not really need) and ship the profits back to Japan.
This is where the well-balanced portfolio holding international large cap value stocks plays in your favor.
OMG! the 'balanced portfolio' fiction! what a sales-pitch right out of a 'for brokers eyes only' training manual
So in other words, the large prop desks and program/HFT traders have Treasury bonds purchased out of their portfolios and then allowed to lever up and dump said cash into the equity markets and run it up 50-100 basis points. Then, after hours they close out their positions and take profits, reinvesting into Treasuries (presumably). By the time we get to tomorrow's open, the overnight markets have added liquidity and picked up "bargains", so we get only modestly lower futures and a quiet opening. Lather, rinse, repeat.
Do I have that about right?
probably
I don't know, it seems like an awful lot of work to squeeze out a non outsized profit (read that as a red flag to the other sharks in the tank) on less than 200 million volume for almost the entire AH market.
AUD/JPY only down 1% from the NY close. Victory for the Red Bulls.
seems to me, about so, right at this particular time-space event horizon - don't long term it, cuz the Computers have dynamic, daily, hourly, tick by tick re-adjusting mechanisms, ah yes, the Russian who worked for Goldman told all, and not just to SOME Americans, but how about the KGB Master of all Male Power - Putkin, finally given the inside secrets of Economic Weapons of Financial Destruction - would it 'hurt' just a little if suddenly ALL the tcp/ip networks 'crashed' some fine day...doer unknown, unknowable...smart those Russian Mathematicians, and honed-up in their network skills by working IN AMERICA at places like ....well you know, those companies that make the Big Network Routers, and stuff like that!
but with LTM EBITDA at $933 million and an 8.6x multiple
my newest bookmarked finance site ..http://www..
hat tip: finance news & finance opinions
The Obama administration following advice from Goldman Sachs, has decided to pass a second stimulus package to target the "Sin" industry to prevent job losses in that sector. Titled "CASH FOR WANKERS", this package will give rebates for anyone buying American Made Porn DVDs or magazines.
Stop it, I'm laughing so hard I'm crying.
yes, good idea indeed, true 'made in America' by Americans for Americans, and with Russian supplied blue eyed blond actors male and female, in and about Hollywood California, might even help 'save' California in the tax revenue
I've observed what I think is a head and shoulders pattern forming (an ugly beast with two left shoulders) with the head developing as we speak.
It is noticable on many charts but we can discuss the SPY for simplicity.
L shoulder in early May, L shoulder in early June with the head under construction. I'm not gona nit pick at this but the neckline is somehere near 900 - 950?
Easy to see looking at charts from the March lows to present.
Anythoughts on this pattern? Or is this just an illusion caused by a bit of undigested cheese?
That's not a 'head and shoulders', that's the dreaded 'shoulders and head'.
Head & shoulders is for dandruff. Need something stronger for nits.
Head & shoulders is for dandruff. Need something stronger for nits.
+1
neckline is 88-90 on SPY, and the R shoulder must not be higher than 96 for the pattern to become tradable
*I meant 90-95 but yea it's somewhere in that range.
beware 'pattern matching' hasn't been an 'in the wild' non-engineered head and shoulders for quite some time, and those that SEEM, aren't, and those that ARE well 99/100 home computers with their MetaStock (proxy for any and all home computer technical programs) see those patterns, and ruin them, in the very 'birthing' process anyway! We are NOT in a 'normal' market, and non-linear transitions, gaps, and just plain 'Black Swans' prevail, soon ONLY the faint traces within chaotic lawful structures will appear as 'strange attractors' where MAYBE there is some hope of a sort of NEW technical analysis...don't know...we are coming to unknown territory that EVEN Goldman cannot 'control' nor profit FROM - Goldman in its decadent end times, will probably be passing pink slips for Christmas, no bonus, no value either in the coveted 'employee stock options'
Great News - it begins ! damm i thought options Friday was gonna be a memorable one - this time, this LAST time, Goldman wins, you know - now regarding the US dollar itself, no problem, their is NO EXIT really from the dollar, but yes, from selected dollar denominated assets YES of course - it just that; THAT, THAT which is the 'denominating currency' remains the ONLY World currency - flee from THAT at your peril - suckers !
Have you confirmed that the accumulated volume math applies to after hours volume on Bloomberg? If it did not, *any* volume after hours would decrease the negative differential. Intuitively, it seems very unlikely that after hours vol would have such an effect.
I'd like to see "control" charts along with posts like this--those without terminals take your word for it that the illustrated patterns don't happen, say, 50% of the time.
hi everyone,
i am new here and please excuse my english. just to pint out that already some one (most probably a country) is trying to dump USD in treasuries. dont know if you read about in june two japanese were cought on the italian swiss border with 134 billion USD tring to get into switzerland. this is very interesting and actually strange, as yet they dont tell us if they are real or fake. several ideas on the above, but yet no official news. let you imagine the consequences if these treasuries were real.....
really now! please tell more, how about some http link to that 'news' and drop the phony accent, by the way, i can tell a 'planted rumor' here, whats YOUR game, and whom do you work for? really work for? really?
ZH communicates in Nanoseconds! According to Mafia central the forgeries had the russian signature...
Hi regarding the 134 billion sized by italians you can find several links and news pages at least here in europe and italy... just go on google and type 134 billion italy- chiasso.....
the latests idea is that it is actually japan doing it as one of the guys cought was a parent of the ext head of japan bank....
would be a good jolly for italy as for law as illigal export of value they will keep 40%.... good money these days....
Hi regarding the 134 billion sized by italians you can find several links and news pages at least here in europe and italy... just go on google and type 134 billion italy- chiasso.....
the latests idea is that it is actually japan doing it as one of the guys cought was a parent of the ext head of japan bank....
would be a good jolly for italy as for law as illigal export of value they will keep 40%.... good money these days....