Fed Confirms First FX Market Intervention In 11 Years As Effects Start To Fizzle

Tyler Durden's picture

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Boilermaker's picture

In all seriousness...is this even in-line with US law?  Not that laws matter anymore...but...???

falak pema's picture

Wow! one hell off a spike! Are you telling me BCE, and EU people contributed 5 billion to this shark bite by the surrogates of the mega-rich???

Dr. Richard Head's picture

The Fed and the Primary Dealers ARE the law.

 

Off with their FED!  Off with their FED!

nope-1004's picture

First FX Market Intervention In 11 Years

 

Ha!  I never laughed so hard.  Was the sarcasm intended Tyler?

 

Dr. Richard Head's picture

He missed two words in that sentence I believe.

First OPENLY ANNOUNCED FX Intervention in 11 Years. 

There, better.

nope-1004's picture

It is painfully clear that the current economic system does not jive with human needs.  Markets are no longer free to operate.  Earthquake and tsunami victims are not given direct aid, rather, the global elites are given rate resets above a "certain level" so they can unwind their carry trade.

This "system" we operate in, run by selfish elites and paid off gov't schills, is so far removed from reality that you can see basic human needs go unmet even in the middle of a disaster.

 

Dr. Richard Head's picture

Indeed.  Hopefully the FED protest will gather some steam on the 28th.  I'll be decked out in protective clothing at the Cleveland FED, expecting retaliation by the guards.  Mind you, I will be peaceful, but will resist arrest with force.  Wife has me bail money ready and a number to a good funeral director (in the case of police brutality causing my death - bad heart and all).  Chances are this protest will be ignored, as has been the case in the past, but I am willing to try one more time. 

long juan silver's picture

It was considered inarticulate to state:

"Our inventory of kitchen sinks has been exhausted"

Mad Max's picture

Not that laws matter anymore

You understand the reality - why are you asking?  I mean, after Obama recently went 180 on his campaign promise to end Gitmo and abolish military tribunals - the same ones he had labeled as blatantly unconstitutional while campaigning - did you mistakenly think that the rule of law was making a comeback?

The US is going full banana.

whatsinaname's picture

Ignorant about this but what would be the Fed's mechanism to strengthen the USD versus the Yen ? And I guess would it not be to the Fed's disliking anyways ?

whatsinaname's picture

Why is the www.enviroreporter.com site run by the freelancer not working >

Too many hits today ?

nobusiness's picture

The Bankers only save their friends and family not the citizens.  If you don't own financial assets you do not exist.

bbaez's picture

Would voting out all Incumbents help?

Racer's picture

Wouldn't it be more appropriate to call it the Fukushima Accord, or a slightly different spelling?

nobusiness's picture

The FU Accord would be appropriate

Mad Max's picture

Fuk U I'm eating.

Brought to you by Carl's Jr.

bob_dabolina's picture

Can we rename the Fed FEDCO in honor of the second most dishonest entity on planet earth.

Mad Max's picture

What's the most dishonest entity?  Are you considering Obama an entity?

jesse livermoore's picture

Steve liesman says this good policy

etrader's picture

Its only good for the re-pat orders that need to be triggered @ 81 or better ;-)

 

Boilermaker's picture

Exactly, an escape route for the big money...as usual.

americanspirit's picture

People are expendible - assets must be preserved.

 

e_u_r_o's picture

wtf, I remember ZH saying OMG "very troubling" that BOJ hadnt intervened etc

Dr. Richard Head's picture

Very troubling as the carry trade, good ol' Mrs. Watanabe, would have spelled yet another marshal law threat against the US?   

Racer's picture

And the US moan and complain about China intervening in currency?????

DeweyLeon's picture

"Honda" accords...

lol, the gallows humor on this site second to none.

pendragon's picture

good to see the german taxpayer is picking up the tab for this one as well...

Quinvarius's picture

I am sure that was the 1st one in ten years.  LOL.

jesse livermoore's picture

these are not the droids you are looking for....................

morph's picture

Perhaps it is time to ask why Japan (and the central banking cartel) has spent almost half a trillion dollars to preserve capital markets instead of giving that money to the millions of earthquake disaster victims...

 

This is the one point I never understand about the entire financial system.  

sabra1's picture

because the elite want to reduce the population! the more that die , the better. those tsa scanners are not for security reasons. it's there to radiate you!

LawsofPhysics's picture

Ah yes, of course the short answer is; "they are not kosher"

AG BCN's picture

Your doing well if it's just one point.

NotApplicable's picture

If I point out that the entire system is a collection of criminal cartels, does that help clear things up?

virgilcaine's picture

Dimon is in Tokyo.. twisting arms.

AG BCN's picture

And faking concern / sympathy.

TruthInSunshine's picture

5 billion is Chump Change. That's Goldman Sachs' (tax subsidized) bonus pool for what?...1 1/2 months?

NumberNone's picture

Ahh yes our friends at GS...rated Netflix a screaming buy 'To Da Moon', sucked in the unwitting, and there has been non-stop dumping since. 

http://www.businessweek.com/ap/financialnews/D9LVPMPG1.htm

Revolution_starts_now's picture

"The spokesman, who spoke on condition of anonymity because of the sensitivity of the operation, refused to provide any details on the amounts of the intervention or what currencies were involved."

Bernie Madoff rule number 1, "you can't operate an effective ponzi scheme if every knows it a ponzi scheme."

TruthInSunshine's picture

Bernie Madoff, watching news coverage of The Honda Accord and all of The Bernank's tactics from his prison recreation area, was overheard by fellow inmates as saying:

"Oh, this guy is good."