Global Central Banks Join The "Short Dollar" Bandwagon

Tyler Durden's picture

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mikeyv1970's picture

Whats up with the S&P locked up? Is screwing up my $VIX and all.

-Michael

AN0NYM0US's picture

dollar the focus on Bloomberg TV right now

lizzy36's picture

BREAKING NEWS: odd lot caused new ytd interday high on SPY.

mikeyv1970's picture

And looks like it broke the computers when it did it. S&P has been showing 1075.06 for quite some time...CNBC also showing the same...weird.

-Michael

Cheeky Bastard's picture

A message reading " I WILL NOT OBEY !!!!!1 " showed up on HAL9000 screen.

mikeyv1970's picture

Interesting this hasn't even rated a mention on CNBC or Bloomberg's websites...just turned on the telly so no clue if they are discussing this live or not.

-Michael

mikeyv1970's picture

CNBC has 1079 and looks like a feed.  Guess the Internet feed is jacked up.

-Michael

Hephasteus's picture

Routers are probably getting jacked up from all this record cold global warming.

lizzy36's picture

amusingly we usually only get these "technical issues" on sell offs.......

 

Oct. 12 (Bloomberg) -- The Standard & Poor’s 500 Index isn’t updating because of a technical problem at the Chicago Board Options Exchange, according to data compiled by Bloomberg.

Gilgamesh's picture

There a joke in here somewhere about new markets highs during a bank holiday.  Or HAL9002 SPX refusing to acknowledge a new high on volume < 1000.

Hephasteus's picture

LOL timmah in his IMF wheelchair.

mdtrader's picture

Everyones a winner from the dollar decline. Apart from those people paid in dollars, who have flat or deflating wages, and hence can buy less and less things with their wages. Is this bullish or bearish for an economy where 70% of GDP comes from consumer spending? Answers on a BB.

Anonymous's picture

$XMI is tracking thingsn pretty good so far

Anonymous's picture

Looks like a perfect set up for an emergency fed funds rate increase to me...

Anonymous's picture

they better hurry.. IYG is starting to slip away on them.. somebody hit hal9000 with a defip pack quick

AN0NYM0US's picture

Summers: "average 401K up 35% since market lows and housing stabilizing too"

from a speech he will be giving in St. Louis at the noon hour today

 

 

Miles Kendig's picture

Too bad for Larry, Curly and Moe more funds have been withdrawn to cover the mortgage than have been left behind to "appreciate".

putbuyer's picture
Jim Rogers "Quite Sure" Gold Will Hit $2000, Dollar Will Lose Reserve Status
Gilgamesh's picture

What was his take on the S&P and DJIA made in jest earlier this year?  Could see 50,000 / 1,000,000 and wouldn't be surprised...

QuantumCat's picture

I think Jimbo is right, but on what timeline? 

Gordon_Gekko's picture

I guess the foreign central banks forgot to look at Bobby Prechter's dollar "sentiment survey".

QuantumCat's picture

"Belief in wizards runs deep," to quote Michael Shedlock. 

Dollar devaluation fear is more rampant here than it was at the low last year... sounds like a low is in the making... this is not "mid" run sentiment.  Central Banks are simply confirming that. 

Miles Kendig's picture

The feedback loop gains momentum as the party at the pool widens to include central banks on the set up.  As CB postulates, to the last gram, hooker and beyond.

Cheers.

rhinotrader's picture

The market I used to know could only be manipulated for a min, day, maybe a week. What is going on with it now? Where is the calvary that knows if GS is long they will bring it down hard. Self-correct stocks like Taser and Enron. AIG is trading like a tulip and getting a free ride. Where is the volume? Where are the movers? Never thought gov't could have this type of pull.

HEHEHE's picture

When I read these headlines all I can say is watch out. The anti-dollar trade has been one-sided for six plus months and getting more and more crowded.  I am a long-term (over next 10 yrs) dollar bear but a short-term violent correction wouldn't surprise me in the least.  This seriously reminds me of oil in the summer of 2008.

Miles Kendig's picture

I am reminded of the GBP during the period as Brown ran the pound into the ground in the attempt to salvage his banking sector. Same genetics, history and thinking.

Gordon_Gekko's picture

I am more interested in riding the long term trend than trading any and every correction. I will be short the dollar as long as it exists - period.

HEHEHE's picture

Actually, you'll likely know when to sell when GS issues a super dollar bearish analyst report like they did calling oil over $200 by the end of 2008.

docj's picture

OT: Could we start a petition to have Jon Nadler fired from Kitco?  (A complementary petition to have him flogged in public should similary be considered.)  He single-handedly drives-down the IQ of that otherwise awesome site by about 20-points on an average day.

Well, given his latest missive on how the death of the dollar is greatly exaggerated I suppose it's not entirely unrelated after all.

Gordon_Gekko's picture

John Nadler is a moron; Jesus man I don't even know why people read or mention him. I just mistakenly read one article by him once and I immediately knew he was an idiot, and let him know as much via email. Never read him again. JUST STOP READING HIM PEOPLE.

Gilgamesh's picture

The day he writes a non-bearish piece on the price of gold is the day I consider taking some profits.  I love having him out there as the headline contributor every day.  Of course, if I wasn't continually buying maybe I would like him to give up the ghost.  Can someone confirm if he is the brother of Jerry Nadler (they talk with the same sense)?

Anonymous's picture

John Nadler is not a particularly bad guy, but he believes that supply and demand are the only factors, which I think is incredibly naive in the current state of affairs.

Anonymous's picture

The US gubberment's handling of the currency is a big fat effing disgrace. No country, no nation ever did well screwing with its own coin. Throw the bums out!

Anonymous's picture

"What I'm looking at is not where gold is going to be tomorrow, one week from now, one month from now, three months from now. What I'm looking at is where is gold going to be vis-à-vis the dollar one year from now, three years from now, five years from now. And I think, with a high probability at each of those points, gold will be higher than it is relative to the dollar today. That probability increases the further out you go. So when I look at what the risk is, the risk to me is far more staying in dollars than it is in gold at this point." -- John Paulson, Paulson & Co.

Gordon_Gekko's picture

So who will you go with? Robert Prechter or John Paulson. My money is on Paulson, but then again that's just me.

Michael's picture

G20 got the secret memo or rally the dollar over night to throw a bone to the Arab oil exporting nations but lost all control by morning. The dollar's demise continues unabated.  

Anonymous's picture

perhaps one day, when all of these self same countries whose CB's are so anti-USD live up to the reality of defending themselves without the expenditure of US$ AND lives, they can have their new reserve currency but so long as the US is expected to provide national security by means of have bases and armed forces on other countries soil as a first line of defense for them (Europe, Japan, Saudi Arabia, etc.) I would suggest they stifle.

TumblingDice's picture

So when do all the folks who are gettng paid with USD figure out that theyve been had? The rest of the world doesnt mind since its saves them from the MAD scenario, but the people who just saw his purchasing power decrease by 20% (or whatever it is), when does he figure out that they're the ones footed with the bill?

Tesla's picture

I think that we're pretty obviously near an inflection point when all the CBs are acting in a similar way. I'll guess that the dolar is about to run up quiete strongly