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Correction: This Is The FX Intervention Headline Of The Day
BN *BRAZIL CENTRAL BANK TO BUY DOLLARS IN MARKET FOR 2ND TIME TODAY
BN *BRAZIL CENTRAL BANK TO BUY DOLLARS 3:48-3:53 P.M. LOCAL TIME
Mr. Tragic - meet Mr. Comedy.
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Anything that throws a stick into BS Bernankes bicycle spokes is great to me!
If I were the BOJ, I would allow the Yen to get as strong as possible, then digitally create several quadrillions of Yen (trillions of USD) and buy physical assets all over the world. Gold, silver, copper, food futures, farmland rights, fresh water spring rights, other commodities, distress assets, rights to hardwood forests and everything else that can have lasting value and wealth preservation.
By doing that, all the quadrillions of Yen you have created and spent, can not be considered currency intervention. It's just shopping.
Eventually your currency will level off. meanwhile you have accomplished two positive results
Rumor has it that is what the Fed is currently doing.
http://www.financialsense.com/contributors/rob-kirby/the-federal-reserve-is-selling-paper-gold-and-buying-physical-gold
My gratitude for the link. I have noticed several times that when gold and silver rise early in the morning, a few minutes after the market opens, the price comes down. I tried to sell gold options and re-buy them later as the pattern was consistent. A pop-up informed me that you can not place a market order the first 15 minutes of market opening. The price was moving down faster than I can place a meaningful limit order. Rigged for the little guy?
I am about to click on the buy 1oz maples button.
No worries. I asked about this on the boards here somewhere. However, I found this link on the Hecla Yahoo! board. I was kind of blown away that it was happening. Not surprising though!
Wait. I thought that all the central banks were going to stop debasing their currencies. Did Brazil not get the message.
They are not debasing their own currencies; they are reflating each others currencies. Don't you get it?
All I know, is a fat wad of 100's bought myself 1oz of gold today - *on sale*
If Brazil keeps going like this, they're going to turn themselves into a third world country!!
Ditto!
Does Brazil have a Central Bank?
The US Dollar index, which started the day solidly in red, only to go green (potentially as a result of currency intervention), back to red (when it stopped), is now back in green; 77.498.
Let's all celebrate our free markets.
Goes to show the willingness for people to self immolate to try to keep the status quo. We should be thanking them for doing their damnedest to deliver the bounty of their nation for the lowest possible price.
Not quite right:
Mr. First Time as Tragedy, meet Mr. Second Time as Farce.
Sincerely yours,
Karl (aka Groucho) Marx
LOL pisani upset because of the "strong dollar"
Brazil... they had do do it twice. The CB head's cousin missed out on the buy earlier ini the day so they had to do it again to let him in on the cash flow. Reminds me of when I was in Brazil a couple years ago. I had to pay a friend and i had 100R notes. He laughed and said he never seen those before, he thought the only place that had 100R notes where the suitcases of the politicians.
They bought $5 each time.
(Not $5 million or billion, just $5).
I think the FED is going to cool it's jets and take no real action until after the election. I think Ben got a phone call from micro-manager-in-chief to avoid anything remotely thermonuclear until elections are over cause it might make him look worse and lose more seats. Nancy likes the big girl gavel.
too funny!
How many dollars? Are we talking millions or billions? Cuz you know, millions don't amount to jack-squat in Fiatworld. Come to think of it, billions are soooo 2008. Trillions should do....well, at least until Fall 2011. Then we better start talking quadrillions if we want to discuss some 'real' significant moola.
AAAAAALLLLLLLRRIIIGHTYY THENNNNNNNNNN...!!!!!
Brazil is going to swap us oil for breast implants. Let's just hope they don't get the walleyed ones from florida plastic surgeon/butchers.
Derp tits.
Fire up the oil dollars and gas up and GET TO THE CHOPPA!!!
Girls of the BRICS
She's a BRIC.....house.
sure, if completely smoking hot girls are your type.
I don't know what ordem e progresso means, but I like it.
Nothing hotter than third generation Nazi girls with just a few salsa genes for spice.
Shouldn't her shirt read BRA NIL?
+1
Explain the 3rd gen comment?
...i think he was just implying that some Nazis fled to Brazil (as they did to other South American countries). this girl looks like a genetic mix, like maybe her father was a kraut. ???
Oh my!
Evil looking face. The eyes are the windows to the soul.
Late the party again. They've been doing two dollar auctions a day for the last couple weeks to offset the impact of the Petrobras deal on the real.
they bought a brazilian dollars ...
i ate brazilian once.
If they keep this up, they can rename their currency the Brazilch.
How many is a brazilian anyway?
I'll be the contrarian: it's time to buy value, the dollar may be reversing shortly........
Put another way, the 2400 to 1 insider selling to buying in the stock market shows the same thing - going to cash when cash is cheap and equities are not.
This is how market makers operate, buying weakness and selling strength, and they wouldn't do it if it didn't make money. Not all traders chase price........
Brazil insuring its currency against a dollar crash?
The hunter has become the hunted!