Bank Holiday Imminent?

Tyler Durden's picture

Reuters reports that Tokyo Stock Exchange firms are seeking market closure as the markets are too volatile. We agree. This means we may get the first post September 11 bank holiday as early as tonight. If so, keep an eye on the USDJPY. "Some foreign financial institutions are calling for Japan's stock market to halt trading, while the Tokyo Stock Exchange and Japanese financial regulators are planning to keep markets open, news agency Nikkei reported. The news agency said officials from more than 10 non-Japanese financial firms held a conference call Tuesday afternoon, with some firms calling for the market to be closed immediately, Nikkei reported, citing people familiar with the discussion. Some participants argued that the market was too volatile to continue trading, according to the report." And if Japan closes, watch for rolling market shutdowns westward as the sun rises over each individual stock market.

From Reuters:

 The TSE's rules allow it to shut down trading if it is possible that brokerages accounting for more than 20 percent of volume cannot do business, Nikkei reported. The prime minister can also halt trading if there's a change of "harm to the public good or investor protections," Nikkei reported.

Japanese stocks plunged following an earthquake and tsunami, which subsequently caused a nuclear reactor disaster. Some foreign bank employees have fled the country as chaos erupted, leaving trading desks understaffed.

The Nikkei report said TSE President Atsushi Saito wasn't prepared to shut the exchange down yet.

Goldman Sachs, Morgan Stanley, Bank of America, JPMorgan Chase, Citigroup, HSBC, Barclays, Credit Suisse, Wells Fargo and UBS did not immediately provide comment on the situation.

We wonder if hopium will work now that reality is finally reasserting itself. We can't wait to hear from all the momo permabulls on this issue.

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SpeakerFTD's picture

Right before option expiry.  Put holders get hosed again.

LowProfile's picture

I guess that would be the case (dunno nothin' bou't no options), but it hasn't happened yet.

And anyway, TD how are you extrapolating a bank holiday out of this?  It seems like pulling one in the middle of a disaster, when people need to buy supplies would be political suicide.  Besides which closing the stock exhange isn't closing the banks, is it?  Enlighten us poor peons plz! (seriously, I don't get it)

-Michelle-'s picture

Buy supplies?  From where?  Any supplies are going to be handed out at shelters.

LowProfile's picture

ZH reported 7-11's getting cleaned out as soon as they restocked, so evidentially goods are coming from somewhere.

Boilermaker's picture

You can't be that stupid.  Surely not.

Michael's picture

Is this kind of waht it looks like?

Wall Street + Federal Reserve Corporation Theft = World Economic Collapse 

OldPhart's picture

Wow, deja veux rerun...disturbing.

That fictional snip is from the early 80's, fiction as truth is the same as lie=true. 

Tyler Durden's picture

"Bank holiday" is the generic name for a market close.

edotabin's picture

It means we are "Winning!"

steveo's picture

Tyler, I sent a story idea to tips (at)

Thought this was a pretty good one, feel free to replublish or tell me how to do it, if you like it.


DocLogo's picture

Now's the time to push for pebble bed reactors

New_Meat's picture

nowz the time playaz are queuing up for natural gas combined cycle units. - Ned

Iam_Silverman's picture

I vote for coal gassification, combined cycle.

spanish inquisition's picture

Stationary bikes that plug into outlets. Should take care of obesity too. 2 birds, 1 stone.

Boilermaker's picture

Now, how in the hell are they going to jam the market higher with it closed???  That doesn't make sense.

e_goldstein's picture

closed to the proles. not closed to those doing "god's work."

Boilermaker's picture

Ahhh, Roger that.  Pulling levers and twisting knobs behind the curtain. 

Couldn't they just 'declare' the market to be some 'value'?  I always get lost as to why they just don't decree things are better.

Spalding_Smailes's picture




I just got fucked over by " the vitamin shoppe ".


As I was giving a follow up call on my order status the bitch told me my order ( placed on monday mourning ) was now on back order until the middle of June.


Un fucking real, the bitch manager also gave me the same line of bullshit. So Spalding says, pass the word " the vitamin shoppe " = dog shit .....


nufio's picture

The same thing happend to me. My lawyer said I could potentially sue them, if they are actually holding out on stock to sell at a higher price.
She said its probably not worth my time as its hard to prove that.
But yeah. fuck vitamin shoppe.

Spalding_Smailes's picture

Put it in caps....

I'll be spamming about that fucking company over the next few weeks ... 

Fuck um'.....

Mark McGoldrick's picture

Spalding, spalding, spalding....

I like you, if for no other reason than you chose the name of a character from my all time favorite movie.


Why the fuck do you think Tyler would care about this?


Right now, at this very instant, it's raining pianos in the FX market, and you're babbling about the vitamin shoppe and some $7/hour phone operator?

Spalding_Smailes's picture

I know Tyler does not care, that was part of the joke. Just like my uncle ben rants ....


I hate the status quo but it's not changing so all the inflationist bullshit must be blasted by Spalding because we have no other choice except a reset or basket ...

Misstrial's picture

Don't worry, think of all the unhappy people who missed out on the Charlie Sheen show tickets.

Sold out in 18 minutes. 



macholatte's picture

Bank Holiday

A bank holiday is a public holiday in both the United Kingdom and Ireland. There is no automatic right to time off on these days, although the majority of the population not employed in essential services (e.g. utilities, fire, ambulance, police, health-care, public transport workers) receive them as holidays; those employed in essential services usually receive extra pay for working on these days. The first official bank holidays were the four days named in the Bank Holidays Act 1871, but today the term is colloquially used for public holidays which are not officially bank holidays, for example Good Friday and Christmas Day.



hedgeless_horseman's picture

Wrong definition.  When fractional reserve banking backs up, there is not enough money for depositors to withdraw, so the banks close.

dark pools of soros's picture

so we should get our tranny porn fix now before the major spike in traffic tomorrow?

RockyRacoon's picture

You have 3 eyes.   Have you been visiting Japan lately?   How could any 3-eyed person be expected to "get" anything?

Yen Cross's picture

Racoon is on the Sushi Menu. The theme is (Fight For It)

Yen Cross's picture

You know I love ya man. Just teasing. You owe me one.

Squid-puppets a-go-go's picture

This will be interesting - if a 'Bank Holiday' causes more catastrophic losses than not having a bank holiday, we have a real black swan event

Yen Cross's picture

They're back P(hole)terTimmays.

mephisto's picture

Nikkei options expired last friday - not this one.

alien-IQ's picture

why not? In America we have bank holidays a couple of times a week. We just call them POMO's...which is like Christmas for bankers isn't it?

chumbawamba's picture

Oh, so sorry, Mother Nature done did an end-run around your plans for global financial domination?


Keep the markets open.  Let the big guys get gutted.  Make them eat their own shit.

Burn this mother fucker DOWN.

I am Chumbawamba.

hamurobby's picture

Probably right, but what is realy sad is, the ptb are already hedged and are just selling to fools.

LowProfile's picture

Chumba's back, and getting the junks for using the dreaded, nuclear-tipped N-WORD.

Chumba, my nigga! Respect.

chumbawamba's picture

Nigger is as nigger does.

We're supposedly in a post-racial society, and in a nation that has as it's Prime Directive the unalienable, inherent, God-given right to Freedom of Speech.

So let's have it out finally.

What fucking problem do you all have with the god damned word, "nigger"?

I'm here to announce that I have finally killed the word nigger.  It's dead!  Long live nigger!

Now that it is dead and gone from this utopian society in which we are judged not by the color of our skin but by the content of our character, we can now re-purpose it to apply its true meaning to those who are deserving of it.  I can think of several groups of people who are apt to be called niggers.  These include:

  • Bankers (primarily the TBTF variety, but practically all of them)
  • Government officials at pretty much all levels (particularly the American variety)
  • zionists
  • Racists
  • IRS

Now, if you're still not convinced that nigger is dead, I submit to you four people much more qualified than anyone to discuss nigger.  Ladies and Gentleman, I give you Chris Rock, Richard Pryor, Dave Chapelle, and Flava Flav:

In hindsight, just call me a racist.  It's easier than explaining it to inferior intellects.

I am Chumbawamba.

DocLogo's picture

You need to learn the difference between good attention and bad attention. This isn't the appropriate forum for this discussion. Might I suggest

chumbawamba's picture

Why don't you fuck off, you nigger.

Boilermaker's picture

If you're going to be explosive and riddle your comments with epithets, then you need to work on your grammar.j

It's..."Why don't you fuck off; you are a nigger"

I would have also accepted..."Why don't you fuck off, nigger"

chumbawamba's picture

It's colloaquial.

I am Chumbawamba.

Spalding_Smailes's picture



Any links left for sodium iodide at this point ? The vitamin shoppe just fucked me in the ass. My order placed on monday is now on back order until june ..... Fuck me ....

SilverDOG's picture

Consume kelp, and/or seaweed, sushi or vitamin form. Make some miso soup and add extra seaweed. Nature does supply what you need. Learn it and live it.

Spalding_Smailes's picture

I love miso soup .... Thanks for the info -

seek's picture

Out of that list, Kelp is the best, most iodine-dense option.

If you're in the US at this point you have nothing to worry about. Even are current levels, folks in Tokyo don't have much to worry about at this point in time, radiologically speaking.

I'm sure if this changes in the US folks with the right gear will be making the appropriate amount of noise.


barkster's picture


and order some of these to put the drops in (take quickly before gelcaps dissolve):