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EURJPY Liquidations Take Pair Below 110, 100 pip Move In Seconds; BOJ Expected To Intervene Imminently

Submitted by Tyler Durden on 05/20/2010 10:26 -0400

Gross Domestic Product

Nobody cares about the euro any longer, but the following chart shows why EUR traders just ran out of money to even prepay their bodybags. The EURJPY just plunged 100 pips in one block!!! This is complete capitulation and the BOJ has no choice but to intervene. Too bad about that GDP miss and record low deflator announced yeterday.

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Thu, 05/20/2010 - 10:39 | 362920 chumbawamba

Sorry to hi-jack the comment thread for this, but Julian Assange (WikiLeaks) has had his passport revoked in Australia:

http://www.salon.com/news/opinion/glenn_greenwald/2010/05/19/wikileaks/i...

Also, GOLD BITCHES!!

http://www.youtube.com/watch?v=dwWso5m2f5c&playnext_from=TL&videos=JgC6Z...
tc

I am Chumbawamba.

Thu, 05/20/2010 - 10:41 | 362927 snowball777

22 karat mole: priceless.

Thu, 05/20/2010 - 10:44 | 362935 tmosley

The way I heard it, he got it back 20 minutes later.

Thu, 05/20/2010 - 10:52 | 362945 Cognitive Dissonance

So much for the barbarous relic. Isn't it funny how we humans return to our roots when the wizards' smoke and mirrors don't enthrall anymore.

Thu, 05/20/2010 - 11:02 | 362971 Hulk

The Chinese have seen this movie already. Thus the sense of urgency..

Thu, 05/20/2010 - 11:53 | 363095 Cognitive Dissonance

Agreed. The Chinese are relatively new converts to the "consumer culture" and thus haven't been completely brainwashed into thinking that the masters of the universe are all powerful and that anything older than 50 years is useless.

The oldest culture on earth has something the rest of the world might benefit from learning.

Thu, 05/20/2010 - 12:10 | 363135 ratava

i, for one, hope the world proceeds to learn hanging corrupt officials and bankers.

Thu, 05/20/2010 - 13:05 | 363317 Hephasteus

Why hang them. What they really need is to be told over and over to sit down and shut the hell up.

Irrelevancy BITCHES!!

Thu, 05/20/2010 - 10:39 | 362922 mikla

Yeah, hate to think we'd have markets without intervention.

Thu, 05/20/2010 - 10:42 | 362928 Cognitive Dissonance

Looks like someone tripped over the trap door release mechanism and the entire stinking lot of them fell through. Oh well, there's a reserve crew in the next room. Send in the clowns.

Thu, 05/20/2010 - 10:42 | 362929 RobD

Ya and gold is on a freaking rollercoaster.

Thu, 05/20/2010 - 10:42 | 362930 Fish Gone Bad

Should I start popping the popcorn now and call in sick to work, or wait until the evening news?

Thu, 05/20/2010 - 10:42 | 362931 Caviar Emptor

The game of musical chairs has begun. Smiles are soon to be off the faces of the international brotherhood of central bankers.

Market turmoil just gives Germans more fodder to start regulating hedge funds, imposing bank and trading taxes and restricting certain derivatives on German assets. F_you, Anglosphere casino capitalism.

Thu, 05/20/2010 - 10:46 | 362938 doomandbloom