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

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Fri, 03/18/2011 - 09:59 | 1071037 Boilermaker
Boilermaker's picture

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

Fri, 03/18/2011 - 10:04 | 1071069 falak pema
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???

Fri, 03/18/2011 - 10:03 | 1071075 Dr. Richard Head
Dr. Richard Head's picture

The Fed and the Primary Dealers ARE the law.


Off with their FED!  Off with their FED!

Fri, 03/18/2011 - 10:13 | 1071129 nope-1004
nope-1004's picture

First FX Market Intervention In 11 Years


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


Fri, 03/18/2011 - 10:21 | 1071181 Dr. Richard Head
Dr. Richard Head's picture

He missed two words in that sentence I believe.

First OPENLY ANNOUNCED FX Intervention in 11 Years. 

There, better.

Fri, 03/18/2011 - 10:30 | 1071242 nope-1004
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.


Fri, 03/18/2011 - 10:36 | 1071267 Dr. Richard Head
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. 

Fri, 03/18/2011 - 10:34 | 1071251 long juan silver
long juan silver's picture

It was considered inarticulate to state:

"Our inventory of kitchen sinks has been exhausted"

Fri, 03/18/2011 - 10:37 | 1071279 Dr. Richard Head
Dr. Richard Head's picture

+ 81.5800 Japanese yen

Fri, 03/18/2011 - 10:10 | 1071108 Mad Max
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.

Fri, 03/18/2011 - 10:49 | 1071348 Drachma
Drachma's picture

Never go full banana.

Fri, 03/18/2011 - 11:10 | 1071467 LongSoupLine
LongSoupLine's picture

Full bananard?

Fri, 03/18/2011 - 10:44 | 1071320 whatsinaname
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 ?

Fri, 03/18/2011 - 10:00 | 1071040 the not so migh...
the not so mighty maximiza's picture

Excellent article

Fri, 03/18/2011 - 11:28 | 1071561 whatsinaname
whatsinaname's picture

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

Too many hits today ?

Fri, 03/18/2011 - 09:59 | 1071041 nobusiness
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.

Fri, 03/18/2011 - 11:19 | 1071509 bbaez
bbaez's picture

Would voting out all Incumbents help?

Fri, 03/18/2011 - 09:59 | 1071042 Racer
Racer's picture

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

Fri, 03/18/2011 - 10:01 | 1071052 nobusiness
nobusiness's picture

The FU Accord would be appropriate

Fri, 03/18/2011 - 10:06 | 1071091 Debtless
Debtless's picture

+/- 81

Fri, 03/18/2011 - 10:12 | 1071125 Mad Max
Mad Max's picture

Fuk U I'm eating.

Brought to you by Carl's Jr.

Fri, 03/18/2011 - 09:59 | 1071043 bob_dabolina
bob_dabolina's picture

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

Fri, 03/18/2011 - 10:06 | 1071080 Dr. Richard Head
Dr. Richard Head's picture

Second.  All in favor?????

Fri, 03/18/2011 - 10:08 | 1071100 ReallySparky
ReallySparky's picture


Fri, 03/18/2011 - 10:11 | 1071124 Mad Max
Mad Max's picture

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

Fri, 03/18/2011 - 10:00 | 1071044 jesse livermoore
jesse livermoore's picture

Steve liesman says this good policy

Fri, 03/18/2011 - 10:02 | 1071070 etrader
etrader's picture

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


Fri, 03/18/2011 - 10:11 | 1071126 Boilermaker
Boilermaker's picture

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

Fri, 03/18/2011 - 10:01 | 1071046 Judge Judy Scheinlok
Judge Judy Scheinlok's picture

Fizzle my bizzelz!

Fri, 03/18/2011 - 09:59 | 1071048 americanspirit
americanspirit's picture

People are expendible - assets must be preserved.


Fri, 03/18/2011 - 10:00 | 1071049 e_u_r_o
e_u_r_o's picture

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

Fri, 03/18/2011 - 10:08 | 1071098 Dr. Richard Head
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?   

Fri, 03/18/2011 - 10:35 | 1071262 e_u_r_o
e_u_r_o's picture


Fri, 03/18/2011 - 10:01 | 1071051 Racer
Racer's picture

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

Fri, 03/18/2011 - 10:02 | 1071057 DeweyLeon
DeweyLeon's picture

"Honda" accords...

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

Fri, 03/18/2011 - 10:02 | 1071058 pendragon
pendragon's picture

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

Fri, 03/18/2011 - 10:01 | 1071064 Quinvarius
Quinvarius's picture

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

Fri, 03/18/2011 - 10:02 | 1071067 jesse livermoore
jesse livermoore's picture

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

Fri, 03/18/2011 - 10:03 | 1071073 morph
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.  

Fri, 03/18/2011 - 10:06 | 1071094 sabra1
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!

Fri, 03/18/2011 - 10:08 | 1071105 LawsofPhysics
LawsofPhysics's picture

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

Fri, 03/18/2011 - 10:40 | 1071306 AG BCN
AG BCN's picture

Your doing well if it's just one point.

Fri, 03/18/2011 - 14:05 | 1072311 NotApplicable
NotApplicable's picture

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

Fri, 03/18/2011 - 10:05 | 1071074 virgilcaine
virgilcaine's picture

Dimon is in Tokyo.. twisting arms.

Fri, 03/18/2011 - 10:41 | 1071308 AG BCN
AG BCN's picture

And faking concern / sympathy.

Fri, 03/18/2011 - 10:06 | 1071081 TruthInSunshine
TruthInSunshine's picture

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

Fri, 03/18/2011 - 10:41 | 1071302 NumberNone
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. 


Fri, 03/18/2011 - 10:05 | 1071082 Tense INDIAN
Tense INDIAN's picture

start folding up ur India  PUTS:





Fri, 03/18/2011 - 10:05 | 1071083 Revolution_star...
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."

Fri, 03/18/2011 - 10:13 | 1071138 TruthInSunshine
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."

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