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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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Wed, 03/16/2011 - 16:11 | 1062789 SpeakerFTD
SpeakerFTD's picture

Right before option expiry.  Put holders get hosed again.

Wed, 03/16/2011 - 16:21 | 1062863 LowProfile
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)

Wed, 03/16/2011 - 16:30 | 1062932 -Michelle-
-Michelle-'s picture

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

Wed, 03/16/2011 - 16:42 | 1062993 LowProfile
LowProfile's picture

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

Wed, 03/16/2011 - 16:52 | 1063047 Boilermaker
Boilermaker's picture

You can't be that stupid.  Surely not.

Wed, 03/16/2011 - 17:57 | 1063484 Michael
Michael's picture

Is this kind of waht it looks like?

Wall Street + Federal Reserve Corporation Theft = World Economic Collapse 

http://www.youtube.com/watch?v=WI8dfFN7H1w 

Thu, 03/17/2011 - 01:55 | 1065550 OldPhart
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. 

Wed, 03/16/2011 - 16:33 | 1062941 Tyler Durden
Tyler Durden's picture

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

Wed, 03/16/2011 - 16:43 | 1062995 LowProfile
LowProfile's picture

Tnx!

Wed, 03/16/2011 - 19:52 | 1064068 edotabin
edotabin's picture

It means we are "Winning!"

Wed, 03/16/2011 - 16:56 | 1063069 steveo
steveo's picture

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

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

http://oahutrading.blogspot.com/2011/03/nuclear-japan-stock-market-holdi...

 

Wed, 03/16/2011 - 17:02 | 1063093 DocLogo
DocLogo's picture

Now's the time to push for pebble bed reactors

Wed, 03/16/2011 - 18:01 | 1063534 New_Meat
New_Meat's picture

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

Wed, 03/16/2011 - 20:29 | 1064201 Iam_Silverman
Iam_Silverman's picture

I vote for coal gassification, combined cycle.

Thu, 03/17/2011 - 08:11 | 1065936 spanish inquisition
spanish inquisition's picture

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

Wed, 03/16/2011 - 16:58 | 1063080 Boilermaker
Boilermaker's picture

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

Wed, 03/16/2011 - 17:08 | 1063138 e_goldstein
e_goldstein's picture

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

Wed, 03/16/2011 - 17:12 | 1063163 Boilermaker
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.

Wed, 03/16/2011 - 17:13 | 1063162 Spalding_Smailes
Spalding_Smailes's picture

 

Tyler,

 

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 .....

 

Wed, 03/16/2011 - 17:47 | 1063441 nufio
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.

Wed, 03/16/2011 - 17:49 | 1063453 Spalding_Smailes
Spalding_Smailes's picture

Put it in caps....

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

Fuck um'.....

Wed, 03/16/2011 - 17:57 | 1063509 Mark McGoldrick
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.

However....

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

lol

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?

Wed, 03/16/2011 - 18:10 | 1063579 Spalding_Smailes
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 ...

Wed, 03/16/2011 - 17:58 | 1063511 Misstrial
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. 

~Misstrial

 

Wed, 03/16/2011 - 17:15 | 1063186 macholatte
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.

 

 

http://en.wikipedia.org/wiki/Bank_holiday

 

 

Wed, 03/16/2011 - 17:36 | 1063371 hedgeless_horseman
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.

Wed, 03/16/2011 - 19:28 | 1063975 dark pools of soros
dark pools of soros's picture

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

Wed, 03/16/2011 - 16:44 | 1063003 RockyRacoon
RockyRacoon's picture

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

Wed, 03/16/2011 - 17:27 | 1063319 Yen Cross
Yen Cross's picture

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

Wed, 03/16/2011 - 17:30 | 1063325 Yen Cross
Yen Cross's picture

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

Wed, 03/16/2011 - 17:12 | 1063154 Squid-puppets a...
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

Wed, 03/16/2011 - 17:22 | 1063248 Yen Cross
Yen Cross's picture

They're back P(hole)terTimmays.

Wed, 03/16/2011 - 19:49 | 1064057 mephisto
mephisto's picture

Nikkei options expired last friday - not this one.

Wed, 03/16/2011 - 16:11 | 1062793 alien-IQ
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?

Wed, 03/16/2011 - 16:33 | 1062946 chumbawamba
chumbawamba's picture

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

FUCK THESE NIGGERS.

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

Burn this mother fucker DOWN.

I am Chumbawamba.

Wed, 03/16/2011 - 16:41 | 1062976 Boilermaker
Boilermaker's picture

Sports Guy Chest Bump )(

Wed, 03/16/2011 - 16:45 | 1063000 redpill
redpill's picture

Unnecessary.

Wed, 03/16/2011 - 17:29 | 1063216 hamurobby
hamurobby's picture

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

Wed, 03/16/2011 - 16:46 | 1063004 LowProfile
LowProfile's picture

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

Chumba, my nigga! Respect.

Wed, 03/16/2011 - 17:01 | 1063079 chumbawamba
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:

http://www.youtube.com/watch?v=iau-e6HfOg0

http://www.youtube.com/watch?v=fEVmAbxC14g

http://www.youtube.com/watch?v=AzFTLKWvfE0

http://www.youtube.com/watch?v=kNSwuSQS8a8

http://www.youtube.com/watch?v=r9KJOtQclOA

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

I am Chumbawamba.

Wed, 03/16/2011 - 17:09 | 1063141 DocLogo
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 http://www.reddit.com/r/culture

Wed, 03/16/2011 - 17:12 | 1063151 chumbawamba
chumbawamba's picture

Why don't you fuck off, you nigger.

Wed, 03/16/2011 - 17:14 | 1063179 Boilermaker
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"

Wed, 03/16/2011 - 17:20 | 1063240 chumbawamba
chumbawamba's picture

It's colloaquial.

I am Chumbawamba.

Wed, 03/16/2011 - 17:24 | 1063290 Spalding_Smailes
Spalding_Smailes's picture

Chumba,

 

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 ....

Wed, 03/16/2011 - 17:40 | 1063401 SilverDOG
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.

Wed, 03/16/2011 - 17:51 | 1063462 Spalding_Smailes
Spalding_Smailes's picture

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

Wed, 03/16/2011 - 18:28 | 1063689 seek
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.

 

Wed, 03/16/2011 - 18:44 | 1063793 barkster
barkster's picture

http://www.swansonvitamins.com/LGS001/ItemDetail

 

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

 

http://www.swansonvitamins.com/NWF379/ItemDetail?n=0

Wed, 03/16/2011 - 18:47 | 1063800 barkster
barkster's picture

..

Wed, 03/16/2011 - 17:58 | 1063494 seabiscuit
seabiscuit's picture

You may simply get a prescription for SSKI, which IS available from pharmacies. It is the name for the actual product, which is Super Saturated Potassium Iodide, and a one ounce bottle should be enough to supply your familty.

It retails somewhere around $25 for a bottle. Fuck the price gougers! And fuck all of you small dicked mental midgets, who when the shit has hit the ventilation system, are hung up on a stinkin word! Samoan, please!

Yer friendly farm assist, da biscuit

 

Wed, 03/16/2011 - 23:19 | 1065163 MaxPower
MaxPower's picture

Fi'a poco oe! My Samoan wife would not be offended.

Thu, 03/17/2011 - 02:02 | 1065559 OldPhart
OldPhart's picture

Go for the Po'Boys cure, tablespoon of Morton's salt...it's iodized!

Wed, 03/16/2011 - 18:04 | 1063540 Metropolis_Minx
Metropolis_Minx's picture

I have to say that here on ZH, style counts far more than grammar. Throw off the chains.

Wed, 03/16/2011 - 17:23 | 1063264 lead salad
lead salad's picture

LOL.

Wed, 03/16/2011 - 17:11 | 1063159 Vampyroteuthis ...
Vampyroteuthis infernalis's picture

Ugly, rude, dirty. Sad but true.

Wed, 03/16/2011 - 17:23 | 1063256 chumbawamba
chumbawamba's picture

Um, farbeit for someone so ugly, rude and dirty as I to bring you back down to reality, but there are much bigger problems to worry about presently than my use of the word nigger.

I am Chumbawamba.

Wed, 03/16/2011 - 17:49 | 1063454 spanish inquisition
spanish inquisition's picture

The use of the word niggar is government approved, training wheels and all. How can the US get people to hate Arabs, Japs or Chinks and want to kill them if they can't start you off with hating black people, or ahhh african americans, I know its not negros...wait don't tell me.... 

Wed, 03/16/2011 - 18:01 | 1063518 zaknick
zaknick's picture

This gov is the biggest drug importer into the country (youtube: "mike ruppert" cia drugs playlist) while at the same time it targets civilian minorities for their "drug use" (95% of "drug offenders" in Orwellian speak in prison are blacks n hispanics while drug use and trafficking is about equal throughout all ethnic groups www.leap.cc). In other words ethnic cleansing of the elites' kind and you Edward Bernaysed ZOMBIES are worried about he said, she said?

Stupid motherfuckers deserve every bit of what you got coming.

America's great spiritual reckoning is upon us.

Hey Chumba,

what's up, my nigga!

Wed, 03/16/2011 - 18:10 | 1063582 chumbawamba
chumbawamba's picture

Keepin' it real up in the fiel', my nigga!

Wed, 03/16/2011 - 21:56 | 1064704 laughing_swordfish
laughing_swordfish's picture

Yo Chumba my Brutha Man, Whassup?

You been "Keepin' it Real" fo' all us Niggahz down heah in de tradin' fiel's ya know hat I'm Sayin?

So you likes to use de word "niggah" so what?

Niggah, I be tellin' you dat de Big Shit about to go DOWN big time fo' Whitey an' all his boyz down on Wall Street...an' das gonna be de time we opens up a big can of Whoop-Ass on dem..

Stay Strong bro..Keep it real, my niggah..

Wed, 03/16/2011 - 17:17 | 1063196 Jim in MN
Jim in MN's picture

^^^he IS Chumbawumba^^^

BREAKING NEWS: All nigger problems will be addressed by the New Ultra Power Cord of Solving Shit

BIP (Buy In Peace) my friends.

Wed, 03/16/2011 - 17:21 | 1063239 hamurobby
hamurobby's picture

I take pride in the fact that I am a nigger, Im a hard working laborer who does not get fair compensation from the "man" holding me down.

Wed, 03/16/2011 - 18:01 | 1063519 hamurobby
hamurobby's picture

Listen lady, I have 15 places on my arms that have let blood out in the past week. I am working for 60% of what I made 5 years ago working on cars for a living. Car dealerships raised the labor rate from about 55hr to 95 hr, and pay us the SAME per hour as before. The auto makers have lowered the time allowance to make repairs by approximately 30% due to the increase in labor rate. So guess what, my "skilled" labor is now worth about twice minimum wage. If you dont like what I think my "owners" consider me, too bad. This is fight club, junk and then post up.

Wed, 03/16/2011 - 18:13 | 1063614 chumbawamba
chumbawamba's picture

Only a nigger pays taxes.

I am Chumbawamba.

Thu, 03/17/2011 - 00:26 | 1065358 hamurobby
hamurobby's picture

I stopped in 06. Stopped working, sold off the family real estate, and have been living free since. I tried recently to go back to work, to play along with society, (and to sharpen my skill set) but the pay does not equal the work, so to hell with it. I trade in their sick markets and drink by the pool until the end comes.

Wed, 03/16/2011 - 17:53 | 1063473 velobabe
velobabe's picture

iam calling Obama a nigger, for sure.

Wed, 03/16/2011 - 20:49 | 1064295 Iam_Silverman
Iam_Silverman's picture

"iam calling Obama a nigger, for sure."

Am not!

Remember, he's half white too.  He sees hostility from both races, and is accepted by neither.

Wed, 03/16/2011 - 16:47 | 1063020 J.B. Books
J.B. Books's picture

Chum,  you shouldn't use bad words... <Scazm on> LOL..

Wed, 03/16/2011 - 17:32 | 1063348 Yen Cross
Yen Cross's picture

I like my crawdads red and shit!

Wed, 03/16/2011 - 17:43 | 1063420 fly
fly's picture

Nice mouth..do you eat with that thing?

Wed, 03/16/2011 - 18:15 | 1063625 chumbawamba
chumbawamba's picture

What's it to you, Whitey?

I am Chumbawamba.

Wed, 03/16/2011 - 16:13 | 1062797 Concentrated po...
Concentrated power has always been the enemy of liberty.'s picture

but....the power cord....all is well.....

Wed, 03/16/2011 - 16:13 | 1062802 hugovanderbubble
hugovanderbubble's picture

Long Silver and Gold for the weekend

Wed, 03/16/2011 - 16:15 | 1062832 alien-IQ
alien-IQ's picture

Long Glenlivet, American Spirits and Hydroponic for the weekend. flat everything else.

Wed, 03/16/2011 - 16:19 | 1062849 Dr. Richard Head
Dr. Richard Head's picture

Sativa....I remember those days. 

I can't believe I am going to saythis, but I will be long cash for the next few weeks.  Of course PMs and food. 

Wed, 03/16/2011 - 16:35 | 1062949 curbyourrisk
curbyourrisk's picture

LONG VIX.......BIG TIME!!!!

Since 17.....

Wed, 03/16/2011 - 17:35 | 1063359 Yen Cross
Yen Cross's picture

Hey Wally can you fetch the Beaver?

Wed, 03/16/2011 - 19:06 | 1063895 Shell Game
Shell Game's picture

*shivers from memories of the widow-maker.....VXX*

Wed, 03/16/2011 - 17:10 | 1063144 e_goldstein
e_goldstein's picture

tito's and tonic.  but everything else... yeah.

Wed, 03/16/2011 - 16:14 | 1062807 cossack55
cossack55's picture

I just love a holiday.  BTW, good luck with the gold in the safe deposit box deal.  I think I remember how that played out in April 33'.

Wed, 03/16/2011 - 16:49 | 1063027 Yancey Ward
Yancey Ward's picture

Sir,

We have an executive, emergengy order to check your house and yard for illegal monetary metals.

Wed, 03/16/2011 - 20:45 | 1064286 Iam_Silverman
Iam_Silverman's picture

I have thought this through.  How would they know if you have "monetary metals" in your possession?  I suppose Apmex, Monex, or any other high-volume dealer that ships a load of PM's to your house would have a record of that - as would FedEx and UPS.

But, what if you bought from a smaller dealer several towns over and paid cash each time.  No names are ever exchanged and you park out of sight of the camera at the front door?  Would they still know?  Maybe they have been salting Maple Leafs and ASE's with some trace radioactive isotopes that emit a specific wavelength?

Other than having a record of your purchases and sales (think 1099's), how do they know the cash buyers stash size.  If they suspect you to have some, you can always offer up a fraction of the total stash too.

Anyway, I don't see this happening.  That would give credence to the fact that these "barbaric relics" actually have monetary value - more than the fiat they can magically print.  It would be an admission of failure of their system.  Also, they would have to disarm a lot of folks itchin' for a fight.

Wed, 03/16/2011 - 16:12 | 1062809 Abitdodgie
Abitdodgie's picture

A day off work , wait I dont work   DOH

Wed, 03/16/2011 - 16:14 | 1062811 J.B. Books
J.B. Books's picture

Powerline or No powerline - this tells me things at the nuke plant are going from bad to really bad to Oh, my God it's Bad, to Oh, Shi.....T   let get out of town..

It's the cooling ponds...  those spent rods could burn right down to the water table.   I'm guessing and that's all it is.... Just guessing.

 

J.B. Books

Wed, 03/16/2011 - 16:33 | 1062940 Boilermaker
Boilermaker's picture

Yes, but awful news is best delivered in tea spoons, right?  You wouldn't want anyone to PANIC and actually try to save themselves or their families.  There are some 'sacrificies' that will have to be made, of course.

Wed, 03/16/2011 - 16:46 | 1063009 J.B. Books
J.B. Books's picture

Truer words were never spoken....  don't panic the moms and dads... they might just want to save their children...

 

Books

Wed, 03/16/2011 - 19:45 | 1064030 Uncle Remus
Uncle Remus's picture

From bad to biblical - week in, week out.

Wed, 03/16/2011 - 16:14 | 1062819 equity_momo
equity_momo's picture

Ok. Im about to state an undeniable fact. Close a major stock market for more than a day or two and you will ensure where there was no panic , there will be panic like you have never seen before. 

If you want asset prices to go down amidst a burning inferno of panic , then by all means close your market.

We are taking the next step. I warn anyone with assets and cash in the system to take a leaf out of Hugh Hendrys book : he who panics first panics best.

Wed, 03/16/2011 - 16:23 | 1062877 Bill Lumbergh
Bill Lumbergh's picture

When the average person needs access to money the most their assets are frozen...reminds me of Barney Frank and others who wanted to outlaw short selling in the 2008 crisis...the best thing these people can do is go away and leave the markets alone.

Wed, 03/16/2011 - 16:30 | 1062925 Cursive
Cursive's picture

Could cause the mothet of all FX margin calls. Dominoes....

Wed, 03/16/2011 - 16:38 | 1062962 Cleanclog
Cleanclog's picture

Maybe they're hoping American (and Irish) traders and investors start in on their St. Paddy's drinking sprees early enough that they won't notice.   

What a sham.  Protect the stock markets - screw the people!

Wed, 03/16/2011 - 16:14 | 1062821 max2205
max2205's picture

Timmmmuah has gone psycotic....

 

(Reuters) - Treasury Secretary Timothy Geithner said on Wednesday that it was imperative that the United States cut its budget deficits and said he was not concerned about foreign officials' comments about America's willingness to do so.

"It is absolutely imperative that we find a bipartisan solution bring down our deficits dramatically," he said in response to questions from a U.S. House of Representatives appropriations subcommittee.

 

Geithner also said that comments by foreign officials expressing doubt about the U.S. commitment to lower its deficits did not worry him.

Wed, 03/16/2011 - 16:16 | 1062841 equity_momo
equity_momo's picture

Im going to propose ZH follow the banking industry and set up a "good blog / bad blog" . For everything that matters , we goto the good blog. For the pure comedy gold , ie the Tim Geithner quotes , we goto the bad blog.

Honestly , Geithner is about as relevant as my dandruff when it comes to capital markets.

Wed, 03/16/2011 - 16:23 | 1062870 malikai
malikai's picture

Can you print dandruff by the trillions?

Wed, 03/16/2011 - 17:15 | 1063181 edwardscpa
edwardscpa's picture

every day, my friend.

Wed, 03/16/2011 - 16:27 | 1062914 metastar
metastar's picture

Already done.

We have ZeroHedge (good) and MSM (bad)

 

Wed, 03/16/2011 - 17:36 | 1063378 hamurobby
hamurobby's picture

How about on Tuesday Timmay said that Japan would not make a difference in our markets, today he wasnt sure...unbelievable.

Wed, 03/16/2011 - 18:16 | 1063630 StychoKiller
StychoKiller's picture

That pesky 300-400 point drop, just some light profit-taking -- Nuttin' to do wit Japan! :>D

Wed, 03/16/2011 - 16:15 | 1062822 Caviar Emptor
Caviar Emptor's picture

Japan inc. calling Force Majeure on bullishness. 

Wed, 03/16/2011 - 16:14 | 1062823 Debtless
Debtless's picture

Look, Home Depot's having a sale on pitchforks and tiki torches...

Wed, 03/16/2011 - 16:16 | 1062835 buzzsaw99
buzzsaw99's picture

Just shoot people who are trying to sell.

Wed, 03/16/2011 - 16:19 | 1062851 Cognitive Dissonance
Cognitive Dissonance's picture

With or without a blindfold.

It makes a difference. I promise you.

Wed, 03/16/2011 - 16:23 | 1062868 ironymonger
ironymonger's picture

Shootee's choice. But no cigarette. Those will kill you.

Wed, 03/16/2011 - 16:35 | 1062948 Boilermaker
Boilermaker's picture

Well, there's the 'second hand' smoke forced on the shooter also.  That ain't right, either.

Wed, 03/16/2011 - 16:17 | 1062836 jtmo3
jtmo3's picture

Ya, I sure wish I had all my money in stocks. I'd feel sooo much better.

Wed, 03/16/2011 - 16:17 | 1062837 Dr. Richard Head
Dr. Richard Head's picture

Weeeeeeeeeeeeeee!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!  Buy that dip bitchez!

Wed, 03/16/2011 - 16:17 | 1062845 ml8ml8
ml8ml8's picture

This would roil (read:  selloff) markets worldwide and could easily cause a run on brokerage accounts, and concomitantly, banks.  The risk of that move far exceeds the gains.

Wed, 03/16/2011 - 16:17 | 1062847 ZackAttack
ZackAttack's picture

Who was the New Year's pundit who called all-in on Japan for 2011?  

Wed, 03/16/2011 - 16:22 | 1062859 equity_momo
equity_momo's picture

Byron Wien? Barton Biggs ? Its got to be one of the older Street schills.

Wed, 03/16/2011 - 16:22 | 1062862 drink or die
drink or die's picture

At least the MSM will have something to blame for the economic "recovery" faltering.

Totally worth it if I don't have to hear the line "as the economy continues to recover..." before every news story on TV anymore.

Wed, 03/16/2011 - 16:23 | 1062872 sudzee
sudzee's picture

Hope everyone has a months worth of needed cash put aside.

Wed, 03/16/2011 - 16:25 | 1062898 Dr. Richard Head
Dr. Richard Head's picture

Are debt payments to be included in that needed cash or just provisionals as needed.

Wed, 03/16/2011 - 16:31 | 1062935 HungrySeagull
HungrySeagull's picture

Actually no.

What we did do is provide for at least one month's self sufficienty without need for actual cash.

If they come through the front door they are not looking for cash, it's going to be because they are hungry, desperate and willing to risk death to get what they need right this goddamn minute out of that house on the hill.

Those who need cash now will either flood Wentworth or ATM's

The rest just charge it. If the banks quit existing then..*Shrugs

Wed, 03/16/2011 - 16:46 | 1063007 stormsailor
stormsailor's picture

they come through my door looking for death, i'll just let them have it

Wed, 03/16/2011 - 16:52 | 1063037 HungrySeagull
HungrySeagull's picture

I have the weapons and ammunition necessary to provide for defense. Even some body armor.

But I would hope that our area will at least remember each other and hold on to what is good before allowing panic and desperation to physically set in.

I still have some things to do to the structure of the home itself but fear maybe there may not be time left to get it done.

Heck surviving the defense is not gauranteed. In fact burial arrangements are already done and paid for just in case the bad guy gets lucky with a headshot above my 400 dollar armor.

Wed, 03/16/2011 - 20:54 | 1064321 Iam_Silverman
Iam_Silverman's picture

"But I would hope that our area will at least remember each other and hold on to what is good before allowing panic and desperation to physically set in."

I know it's a waste of edible meat, but my plan is to gut and skin the first one entering the compound - and hang the dressed carcass on the front gate.  Word would soon get around.  The others?  A big smoker is a bonus my man, a real bonus!  Besides, if they go for your dried meat, they might prove squeamish and rethink the whole plan.

Wed, 03/16/2011 - 17:04 | 1063096 SoCalTrader
SoCalTrader's picture

I don't have any .999 silver in my home, but I have plenty of .40 lead for you anytime you want!

Wed, 03/16/2011 - 16:23 | 1062882 bugs_
bugs_'s picture

banco festiva

Wed, 03/16/2011 - 16:25 | 1062883 Northeaster
Northeaster's picture

If I'm reading this right, and please, correct me, all they are planning on doing is to slow the flow of printing money out of nowhere?

Why would our PD's here care? They have been benefitting tremendously from this outrageous endeavor, courtesy of The Federal Reserve and government blessings in general since monetization started?

If they really cared, they would have never started it here. All I see is the scumbags trying to rob more.

Wed, 03/16/2011 - 16:25 | 1062885 eatthebanksters
eatthebanksters's picture

Does anyone think that GS and JPM will have 90 consecutive days of gains on their trading floors?  How do you frontrun this shit?

Wed, 03/16/2011 - 16:25 | 1062886 GOSPLAN HERO
GOSPLAN HERO's picture

I hope Comrade President Obama is enjoying a good round of golf ... or is it a vacation in Rio?

Wed, 03/16/2011 - 16:30 | 1062928 eatthebanksters
eatthebanksters's picture

...in between his March Madness bracket selections and trip to Rio...let's diddle and watch the world burn!

Wed, 03/16/2011 - 16:34 | 1062887 hambone
hambone's picture
8530.00 USD
Last Trade  -455.00 (-5.06%) Change * 49,621
Volume 4:14:57 PM EST
Trade Time

Am I reading it correctly that Nikkei futures are down 5%+ now???

That does not look like a positive "follow through" day.

Yesterdays close below

  9093.72 JPY
Last Trade  488.57 (+5.68%) Change * 372,050
Volume 3:28:00 PM JST
Wed, 03/16/2011 - 16:25 | 1062889 WonderDawg
WonderDawg's picture

It's times like this that I'm glad I got out of my long positions last year and put my gambling money into a bear fund. Yeah, I missed out on a bunch of capital gains, and my bear fund was down 20% as of last week, but when the inevitable market reversal occurs, that 20% down will be mopped up in no time and will soon be in the black.

Capital preservation has been my strategy, and while it's been brutal watching the market continue to climb on the back of Bernanke's magic act, I still believe it can't levitate forever. It looks like maybe the reversal has started. I said that last April, though, so what do I know?

Wed, 03/16/2011 - 16:28 | 1062911 Dr. Richard Head
Dr. Richard Head's picture

I can tell what's on my mind.  I first read that as BEER fund.  What a great idea I thought.  Who needs capital preservation when drunk preservation is key. 

Wed, 03/16/2011 - 17:38 | 1063395 WonderDawg
WonderDawg's picture

I hear ya, Doc. If I was still a drinking man, I'm sure I'd be heavily invested in firewater. I had to get off the booze 8 years ago, the shit damn near killed me. Good news on that is I now use the beer fund for my bear fund, and don't wake up with a headache, except for the one I get pounding my head on the wall as I watch Hopey the Clown and Bernanke drive us toward the cliff.

Wed, 03/16/2011 - 19:47 | 1064045 Uncle Remus
Uncle Remus's picture

Hopey the Clown

LOL. That fucking stuck.

Wed, 03/16/2011 - 16:26 | 1062893 samsara
samsara's picture

Gold and Silver are for Optimists.

I'm diversifying into can goods and lead.

 

Wed, 03/16/2011 - 16:50 | 1063036 RockyRacoon
RockyRacoon's picture

I've been called a lot of things, but "optimist" was not among the selection.

That really chaps my butt.   I hate being mainstream.

Wed, 03/16/2011 - 18:07 | 1063567 CitizenPete
CitizenPete's picture

Optimist Geauga. 

Wed, 03/16/2011 - 16:27 | 1062897 LawsofPhysics
LawsofPhysics's picture

Will the peasants around the world see this ripple in the matrix?  Hopefully not, just the same, I am glad that I have been hedging for this since the mid-90's.

"pitchforks and tiki-torches"   Bahahahahaha!

Wed, 03/16/2011 - 16:25 | 1062899 Gordon Freeman
Gordon Freeman's picture

Believe me, they do not want that fucker open for, uh, selling, right about 20:00 EST...

Just a few more hours until we get the punchline to this sick joke of a market...

Wed, 03/16/2011 - 21:29 | 1064565 Iam_Silverman
Iam_Silverman's picture

Hey Gordon, have you seen Barney?  He wanted you to meet him at the old train station - something about escorting some civilians to the evacuation train. (HL2ep1).

Wed, 03/16/2011 - 16:26 | 1062901 DavidC
DavidC's picture

It's quite possible we'll see a bounce from here.

If Japan gets the fuel rods cooled, the market panic of the last few days will abate. We're also coming to end of the first quarter - banks will want to make their quarterly figures look OK.

Please note - I'm not making any personal comment here about the effects of the earthquake and tsunami, I'm well aware of the sad nature of them - I'm merely stating what I think the banks will do. Let's not forget they are absolutely in survival mode.

DavidC

Wed, 03/16/2011 - 16:51 | 1063038 ml8ml8
ml8ml8's picture

+1  You'd hope that with the best minds and all the stops pulled out on this thing (now that Japan has sucked it up, taken the loss of face, and asked for help), they could get some water where it f'ing needs to be. 

However, if the TSE is closed, then all bets are off.

Wed, 03/16/2011 - 16:56 | 1063056 RockyRacoon
RockyRacoon's picture

It's quite possible we'll see a bounce from here.

Yeah, the eternal optimist.  On the other hand, everything could go to shit, but one does need a fall-back position in order to always be right.   Right?

Is it just me, or have you just stated a stark ravingly obvious market scenario?

Wed, 03/16/2011 - 18:46 | 1063804 DavidC
DavidC's picture

You obviously haven't read any of my posts.

I am regarded (incorrectly) by my friends as being the perma-bear. I'm not, but I think the Dow will reach 3,500 to 4,000 before this is done as a result of the credit unwind. However, neither am I naive enough to think that it will go down in a straight line.

There has been a large amount of panic over what's been happening with the reactors - at the moment, we really do NOT know what is going to happen with the repair work. And Karl Denninger has posted a very good balanced piece about it;

http://market-ticker.org/akcs-www?post=182415

DavidC

Wed, 03/16/2011 - 16:26 | 1062906 Gen X Gen Y Hybrid
Gen X Gen Y Hybrid's picture

why would other markets close just because of Japan's?

Wed, 03/16/2011 - 16:27 | 1062916 skeptik
skeptik's picture

It seems now that the current run on Canadian Silver Maples has the bullion brokers in trouble now.  I received this after a delay in receipt of a recent portfolio delivery order from Bullion Direct:

 

Dear Customer,

Your ticket code is xxxxxxx. Please use this code in any further communication.

It has come to our attention that your recent order included Silver Canadian Maples.  Unfortunately,  we are experience a significant delay in the product being delivered from our long-term storage facility,  to our distribution center.  We are prepared to offer you Silver American Eagles,  as an equivalent substitution.  We realize that this is not exactly what you have order and we apologize for any inconvenience this may cause.  We are only hoping to fulfill your order in a prompt and satisfying way for you.  Please let us know if this substitution is acceptable to you and we will get your order out immediately.  Thank you for your patience and understanding in this matter.

Should you require further assistance or information, please reply to this message.

Sincerely,

Bullion Direct Support

Wed, 03/16/2011 - 16:46 | 1063019 steveo
steveo's picture

CAll Monex they have plenty of electronic silver to sell, and only cost you $400 to place the bet, PLUS fees!!!!!

They are calling me 2 times  week, jokers

Wed, 03/16/2011 - 17:05 | 1063098 Slartebartfast
Slartebartfast's picture

"Long term storage facility", my ass.  They don't have the metal.  They pulled the same shit on me a few months back when I ordered some 10oz bars.  Took six weeks to get Paco to drive over to the, "long term storage facility", and get them.

I did eventually get them though.  I guess that's the point.

Wed, 03/16/2011 - 19:52 | 1064064 Uncle Remus
Uncle Remus's picture

Paco be leveraging that shit whilst you wait.

Wed, 03/16/2011 - 16:29 | 1062917 Gully Foyle
Gully Foyle's picture

We all know the real reason for todays holiday.

Mar 16

St. Urho's Day, Patron saint of Finnish vineyard workers. Attributed to him is the miracle of banishing grasshoppers from Finland which he accomplished with a few choice Finnish phrases, thereby saving the season's grape crop. But in reality a bunch of very drunk people made this up in 1956.

Wed, 03/16/2011 - 16:57 | 1063062 Yancey Ward
Yancey Ward's picture

Explains the bug in my Nokia phone.

Wed, 03/16/2011 - 16:30 | 1062923 cswjr
cswjr's picture

Sounds like a new Intrade market to me: "Will the TSE be halted for one or more trading days in the next week?"

Got two built in side bets, too:

1) Over-under on the number of days the TSE is closed.

2) Expected gain on -1 /NKD contract (valued at last mark prior to closure) upon market reopening.

Wed, 03/16/2011 - 16:30 | 1062926 rlouis
rlouis's picture

Still a long way back to Jackson Hole - in S&P points.

Wed, 03/16/2011 - 16:32 | 1062939 hambone
hambone's picture

Amazing how fast they can roll off once that boulder starts gathering speed...Nikkei futures down over 5% now.

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