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Nikkei Surges As BOJ Injects Another ¥3.5 Trillion: Just Add It To The Existing ¥23 Trillion Plunge Protection Tab

Tyler Durden's picture





 

It's another day for the BOJ, which more than anything is hell bent on preventing a rerun of last night's tumble in the futures to a 7 handle. The solution: add another several trillion into money markets. Following Monday's ¥15 trillion plunge protection deposit, and yesterday's ¥8 trillion, just announced was the first tranche for tonight, which amounted to ¥3.5 trillion. And so the total involve to prevent the market from plunging a more 1,000 points is now ¥26.5 trillion, or $325 billion.

From DJ:

The Bank of Japan on Wednesday pumped another 3.5 trillion yen ($43.3 bln) into the financial system, adding to the trillions spent Monday and Tuesday to soothe shaken markets

 

 


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Tue, 03/15/2011 - 20:43 | Link to Comment alien-IQ
alien-IQ's picture

Insanity reigns supreme. All hail the ponzi.

Tue, 03/15/2011 - 20:42 | Link to Comment Boilermaker
Boilermaker's picture

It's so fucking surreal that I'm literally laughing my ass off.  What a fucking flea circus of biblical proportions.

Tue, 03/15/2011 - 21:21 | Link to Comment Sam Clemons
Sam Clemons's picture

The most amazing thing is that all this stuff is slowly going to erode confidence in the entire monetary system the more and more they have to do it.  Talk about trading the future for the present.

 

Why does anyone work when some entity can just helo-drop more than any large group of individuals will ever make without doing a damn thing?

Tue, 03/15/2011 - 21:44 | Link to Comment dlmaniac
dlmaniac's picture

From sea water tsunami to FIAT tsunami. What's next, radiation tsunami? This stuff is intense!!

Tue, 03/15/2011 - 22:06 | Link to Comment Spalding_Smailes
Spalding_Smailes's picture

• Red Alert • #3 MOX •

Kyodo: Smoke rising from Fukushima's No. 3 reactor: nuclear safety agency 1 minute ago via TweetDeck 

Smoke / steam billowing out of reactor .... Live press conference coming up  ....

Live feed -

 www.ustwrap.info

Tue, 03/15/2011 - 21:50 | Link to Comment scythian empire
scythian empire's picture

What is the point of banks heding equity market risk, when there is no such thing as equity market risk? 

 

Tue, 03/15/2011 - 22:10 | Link to Comment Sam Clemons
Sam Clemons's picture

You're right.

They disable market risk by taking more risk on themselves.  Ironic.

 

"Panics do not destroy capital; they merely reveal the extent to which it has been previously destroyed by its betrayal into hopelessly unproductive works".
-- John Stuart Mill

Tue, 03/15/2011 - 22:24 | Link to Comment dark pools of soros
dark pools of soros's picture

keeps 'em off the streets and from reading ZH

Wed, 03/16/2011 - 04:15 | Link to Comment What does it al...
What does it all mean's picture

Why would any one "donate" to Japan, when they can just print or raise debt to pay for the whole thing themselves?

At least the BofJ needs to disclose how much and what they are doing with the money.  The Fed?  Nothing and no audits...

Tue, 03/15/2011 - 21:27 | Link to Comment CheapKUNGFU
CheapKUNGFU's picture

Hahah, 'a flea circus of biblical proportions' - a coffee out my nose moment!

Boiler, you funny

All your fleas are belong to us, make your time... heh

Tue, 03/15/2011 - 21:57 | Link to Comment Worker Bee
Worker Bee's picture

Idiocracy

Tue, 03/15/2011 - 22:45 | Link to Comment VyseLegendaire
VyseLegendaire's picture

+1 this is actually funny. 

Wed, 03/16/2011 - 10:01 | Link to Comment Zero Govt
Zero Govt's picture

this 'tab' the clowns (Jap Govt and BoJ) is running up is collosal ...but it does represent a great wealth transfer to investors happy to take the money and 'Exit Stage Right'

Dead cat bounce in place, now back to falling down the flight of stairs . . . 

Tue, 03/15/2011 - 20:45 | Link to Comment Concentrated po...
Concentrated power has always been the enemy of liberty.'s picture

http://www.nbcbayarea.com/news/local/Surgeon-General-Buying-Iodine-Appro...

another day, another clown.  if you haven't seen the movie "idiocracy" then you should.  It's the missing link between today and Soylent Green.

Tue, 03/15/2011 - 20:47 | Link to Comment Concentrated po...
Concentrated power has always been the enemy of liberty.'s picture

oh and if you want to know more about the symbiotic relationship termed diabesity, just look at our surgeon general's fat, block head, face.  She the pied piper of the twinky brick road....

Tue, 03/15/2011 - 22:47 | Link to Comment VyseLegendaire
VyseLegendaire's picture

Haha! That is poetic! ZH is on a roll tonite. 

Tue, 03/15/2011 - 21:22 | Link to Comment Mr. Mandelbrot
Mr. Mandelbrot's picture

BOJ with another "extra bigass" infusion . . .

Tue, 03/15/2011 - 21:54 | Link to Comment alien-IQ
alien-IQ's picture

and all for naught since the /NKD is now down about 100 points.

you'd think they could find better uses for the money than to prop up the financial markets? after all..they do have a country in need of a few repairs and it's not like the stock market is going to "pitch in" to help.

Tue, 03/15/2011 - 21:32 | Link to Comment pods
pods's picture

LMAO, I tried to watch the video of the semi-obese SG and there is a McDonald's ad before it!  

Oh the irony.

pods

Tue, 03/15/2011 - 20:51 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

Or as Bonzai7 says in his latest post "All Hail the Quantitative Easer".

http://www.zerohedge.com/article/beware-ides-farce

Tue, 03/15/2011 - 21:04 | Link to Comment alien-IQ
alien-IQ's picture

the /ES is testing the days highs again now. If it breaks above 1285 expect it to go full retard and we'll open tomorrow at or above 1300...as if nothing ever happened.

Earthquake? Tsunami? Radiation Leak? Nuclear Plants blowing up? Nope. Never heard of it. BTFD and FTW.

Tue, 03/15/2011 - 21:16 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

Gold trying to break back above $1,400, but keeps getting slapped in the face. Sooner or later, of this I am certain.

Tue, 03/15/2011 - 22:00 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

The leverage the bankers are using to free up all of this cash must be coming from 'gold' reserves.  The global finance system must have gold on loan at at least one hundred to one by now.  If there was ever a time for a squeeze....

Tue, 03/15/2011 - 22:14 | Link to Comment william the bastard
william the bastard's picture

Gold is down $35. Don't you need more Jim Beam?

Tue, 03/15/2011 - 22:13 | Link to Comment william the bastard
william the bastard's picture

Gold is down $35. Don't you need more Jim Beam?

Tue, 03/15/2011 - 22:19 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

I had gold retesting support today, and it broke a little south of it.  No need to worry about gold.  It is always what it is.

Tue, 03/15/2011 - 22:22 | Link to Comment william the bastard
william the bastard's picture

You're a hoot!

Tue, 03/15/2011 - 23:03 | Link to Comment RockyRacoon
RockyRacoon's picture

Might be interesting to follow this trial for a crystal ball view of the status of holding gold:

CoinWorld provides coverage of the trial of Bernard von NotHaus, creator of the Liberty Dollar.

Wed, 03/16/2011 - 04:38 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

My kind of guy.

Among the 75 exhibits presented by the prosecution were Liberty Dollars, a T-shirt screened "U.S. Mint can bite me!" and production items confiscated from the privately owned Sunshine Mint in Idaho, where Liberty Dollars were produced under contract.

Tue, 03/15/2011 - 21:08 | Link to Comment Michael
Michael's picture

After the worlds central banksters finish buying up all the assets on the planet, what happens next?

"None are more hopelessly enslaved than those who falsely believe they are free."

Johann Wolfgang von Goethe
Tue, 03/15/2011 - 21:33 | Link to Comment pods
pods's picture

Great quote Michael, I use it all the time.

One of my other favorites:

"But again, truth be told, if you are looking for the guilty, you need only look into a mirror>"

-V-

 

pods

Tue, 03/15/2011 - 22:13 | Link to Comment william the bastard
william the bastard's picture

fruit inflation

Tue, 03/15/2011 - 21:40 | Link to Comment TruthInSunshine
TruthInSunshine's picture
Panicked residents start to flee Tokyo as radiation levels rise after THIRD blast at stricken nuclear power plant
  • Radiation leaking directly into the air from stricken Fukushima nuclear plant
  • Power station has now suffered three reactor explosions and one fire
  • One reactor core 'exposed to the atmosphere' through crack in containment wall
  • Radiation levels up to ten times higher than normal in Tokyo
  • Mass exodus

http://www.dailymail.co.uk/news/article-1366308/Japan-earthquake-tsunami...

Tue, 03/15/2011 - 20:42 | Link to Comment Boilermaker
Boilermaker's picture

LMFAO, the gloves are off.

Let's LITERALLY make a fucking COMPLETE MOCKERY of the equities markets.

What the fuck...just DECLARE the fucking markets where they want it.

Tue, 03/15/2011 - 20:44 | Link to Comment Ray1968
Ray1968's picture

Our market was a joke today. The talking-head Bozos can't get it straight. They keep talking about fundamentals and recovery... BULLSHIT. Its all about printing money. Period. End of story.

Tue, 03/15/2011 - 20:45 | Link to Comment Boilermaker
Boilermaker's picture

Golly, ya think?

Tue, 03/15/2011 - 20:48 | Link to Comment Ray1968
Ray1968's picture

Silver and gold had a mighty nice sale today. Wish I didn't blow my wad 2 weeks ago on silver.

Tue, 03/15/2011 - 20:51 | Link to Comment Boilermaker
Boilermaker's picture

Don't worry, they'll cornhole you on that also.  They'll just confiscate the stuff.

Tue, 03/15/2011 - 20:57 | Link to Comment Ray1968
Ray1968's picture

They have to get past my Dirty Harry .44 Blow-yer-head-clean-off magnum first.

Tue, 03/15/2011 - 21:00 | Link to Comment Lets_Eat_Ben
Lets_Eat_Ben's picture

sorry officer I just recently sold my gold and silver on CL. Why no, i don't have a receipt. I just traded money (Au,Ag) for "money" (truck-load of FRNs). No different than making change of $100k bill...right?

Tue, 03/15/2011 - 21:09 | Link to Comment Boilermaker
Boilermaker's picture

I see, Sir, now if you'll just step outside while we ransack your place, we'll be out of here in no time.

We haven't seen shit, yet.  This will be blow-your-fucking-mind bad.

Tue, 03/15/2011 - 21:32 | Link to Comment tmosley
tmosley's picture

Any attempt to do door to door searches for any form of contraband, especially something as harmless as gold or silver, will result in nothing but a bloodbath.  It's not really worth it.

Easier to just remonetize gold and seize it from the banks after the sheeple deposit their gold and silver there.

I don't think they are going to last long enough.  This IS the endgame.

Tue, 03/15/2011 - 21:45 | Link to Comment AUD
AUD's picture

remonetize gold and seize it from the banks after the sheeple deposit their gold and silver there.

Yes, that is exactly what happened here in Australia in 1931 or '32. There was no grand edict requiring citizens to hand in their gold under penalty, the goverment just turned all bank deposits denominated in gold into deposits denominated in Pounds.

 

Tue, 03/15/2011 - 21:59 | Link to Comment william the bastard
william the bastard's picture

Idiot. SSDD.

Tue, 03/15/2011 - 22:05 | Link to Comment tmosley
tmosley's picture

Talking about yourself again?  This is what makes your mother hate you.

Tue, 03/15/2011 - 22:16 | Link to Comment william the bastard
william the bastard's picture

I'm fist fucking your mom's asshole and it's like a glass of water. What TF?

Tue, 03/15/2011 - 22:26 | Link to Comment tmosley
tmosley's picture

No you're not, I can hear you masturbating to the sound of your mother getting gang banged.

Virgin.

Tue, 03/15/2011 - 22:29 | Link to Comment william the bastard
william the bastard's picture

you are afuck bag fagg

Tue, 03/15/2011 - 23:16 | Link to Comment tmosley
tmosley's picture

Look at you, you sloppy bitch, you can't even type.

What, did the boys get bored with Mommy and come into your room?

Tue, 03/15/2011 - 23:21 | Link to Comment baby_BLYTHE
baby_BLYTHE's picture

^^^^^ x1000000009999999999

Lov ya, tmosley!

Best response all day

Tue, 03/15/2011 - 22:27 | Link to Comment SilverRhino
SilverRhino's picture

If they are going to rob you of your gold and silver under color of law they intend to kill you (no wealth = no food). 

Shoot first, shoot some more and keep shooting.   Maybe ask a question or two about 5 minutes later.

Tue, 03/15/2011 - 20:42 | Link to Comment Orly
Orly's picture

Am I the only one who thinks this doesn't bode well for the Japanese yen?

Tue, 03/15/2011 - 20:45 | Link to Comment Boilermaker
Boilermaker's picture

LOL, who gives a shit?  What the fuck is a Japanese Yen anyway?  Jesus Christ, you still think this is even remotely legit?  This is a fucking cartoon at this point.

Tue, 03/15/2011 - 20:51 | Link to Comment alien-IQ
alien-IQ's picture

In the global race to the currency bottom...the JPY is still running a distant second to the USD. It feels like a TV show: "Who Want's to Be the Next Zimbabwe?"

Tue, 03/15/2011 - 20:53 | Link to Comment Ferg .
Ferg .'s picture

Against the USD I think it has one final terminal thrust . The triangle has broken to the downside and now it's a battle between the BOJ and the stop hunters for that all important 80 handle .

Don't know if you're trading any of the Yen crosses at the moment Orly but watch those rollovers , they look vicious .

Tue, 03/15/2011 - 21:01 | Link to Comment Orly
Orly's picture

I have been in and out and up and down the USDJPY all day long.  I think this time it gets long to the Fibo at ~82.617.  I have my robot pointing long at it.  Hope I don't get burned trying to get some sleep later.

The real pair I am watching very closely is the AUDUSD.  There's no way that the yen can get boomeranged (yes, pun intended...) like this and have no effect on the Ozzie dollar.

I think the tell is going to be the declining trendline in the EURUSD.  When the Euro reaches up to that level, perhaps in the overnight tonight, I think it will be all over for the Ozzie in terms of USD.

Then, I am going to take a chance and get really, really short the AUDUSD pair.

Wish me luck!

:D

Tue, 03/15/2011 - 21:22 | Link to Comment mynhair
mynhair's picture

Luck!

(I gave up Fx for Lent.)

(Might have been Arbor Day, cuz I have no idea what Lent is.)

Tue, 03/15/2011 - 21:20 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

Personally I no longer play golf in lightening storms, but to each their own. :>)

Tue, 03/15/2011 - 21:41 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

While swinging a tool above my head on a fireline, lightening took out an old growth about one hundred yards up hill.  My squad boss yelled, "Keep digging!"  I looked at my buddy who had been working fires for years with a 'What the fuck do we do?' expression.  "Fuck that shit," he said as he threw his tool on the ground.  I followed suite.  You will not find me working while lightening is striking close by.  No sir!

Tue, 03/15/2011 - 22:01 | Link to Comment william the bastard
william the bastard's picture

You'll find it much easier to smoke crack if you use a pipe. ...Hic....hic....

Tue, 03/15/2011 - 22:05 | Link to Comment tmosley
tmosley's picture

You'd know all about that, wouldn't you?

Tue, 03/15/2011 - 22:17 | Link to Comment william the bastard
william the bastard's picture

I know every orrifice on your mom is dialated to foot sized dimensions! LOL LOL HAHAHA

YOU'D SUCK but your mouth is too BIG!!!

Tue, 03/15/2011 - 22:26 | Link to Comment tmosley
tmosley's picture

lol, what's an orrifice?

Fucking retard.

Tue, 03/15/2011 - 22:30 | Link to Comment william the bastard
william the bastard's picture

Try big giant holes in your moms fuck places:

I know every orifices on your mom is dilated to foot sized dimensions! LOL LOL HAHAHA

YOU'D SUCK but your mouth is too BIG!!!

Tue, 03/15/2011 - 23:17 | Link to Comment tmosley
tmosley's picture

lol, how does I plural?

Honestly, I can't believe how stupid you are.

Tue, 03/15/2011 - 21:29 | Link to Comment Ferg .
Ferg .'s picture

USD/JPY is an intraday trader's dream right now , glad you're racking in the pips !

I was literally ashen faced when I woke up this morning and looked at my screen . I'd been short from 1.0100 and cut out at breakeven because of USD exposure elsewhere and missed that majestic wave . I shoulda been riding that sucker right down ! Oh well , I'll take a look at it again if it gets close to parity or breaks 0.9800 .

Speaking of Euro trendlines have a glance at a weekly chart of EUR/GBP . Coming up to the roof of a solid trendline off the 08 highs . Might be taking a position there tomorrow .

Hope you catch the mighty AUD bear if this is indeed it !

Tue, 03/15/2011 - 22:02 | Link to Comment Orly
Orly's picture

I avoid the GBP like the plague.  You are probably aware that I think the BoE failed back in the day and all of these shenanigans have been created by central banks the world over to prop it up in an effort to re-inflate the currency.

Having said that, my indicators are telling me that the EURGBP has a bit of a run left in it.  Looking at the weekly chart, the pair has not quite reached the upper Bollinger Band (28/2) and the trendline you mention crosses that point at the level of about 0.87898.

If I were to trade it, I think I would wait until the pair reaches the 0.8774 level before selling short.  It looks like that level will coincide with the EURUSD touch of the trendline, so that may also be a tell for you to enter.  That's only about 78-pips or so (on the EURGBP pair...).  You may have to take some drawdowns, so fold in your trade with small lot sizes from that point.

Be patient and it may pay off well for you.

:D

Wed, 03/16/2011 - 07:12 | Link to Comment Yen Cross
Yen Cross's picture

Orly I repect you. Are you a Woman? I'm going Clint Eastwood on you. It makes a difference. NOW I GOT to Protect you.

Tue, 03/15/2011 - 20:59 | Link to Comment AUD
AUD's picture

You wouldn't know it looking at the exchange rates. What I can say with certainty though is that despite yesterday's 'stock panic' there has been no stress or strain in money markets here in Australia whatsoever.

Open market operations by the RBA didn't move an inch from their tightfisted (relative to pre '08) repo's in both price & duration. Government debt & bank bill yields took a sharp downturn but seems almost as if the bond speculators were expecting an emergency RBA rate cut or something.

ASX well up this morning, the bond speculators might get burnt.

Tue, 03/15/2011 - 21:05 | Link to Comment Confucious 222
Confucious 222's picture

The Japanese are doing a great job of maintaining the price. Don't you want Price on Earth and Goodwill to Men? Baroke O'Bummer does... he won the Nobel Price Prize. Maybe Benny and the Inkjets will get it this year? They should. 

Tue, 03/15/2011 - 21:32 | Link to Comment CheapKUNGFU
CheapKUNGFU's picture

Orly, from a simple fundemental FX perspective you are correct...

Better yet, in the REAL WORLD you are correct but we have entered the

SURREAL WORLD.

I think it will take a few weeks to mature, but yeah I would look to be a buyer of the UJ soon...

All your YEN are belong to us, make your time!

Tue, 03/15/2011 - 22:32 | Link to Comment Orly
Orly's picture

I know but something tells me that something somewhere is going to break some time soon...perhaps within this week.  There are too many confluences going on for it all to not be real.

Tue, 03/15/2011 - 21:53 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Dollar/Yen swap line should keep everything 'liquid'.

Tue, 03/15/2011 - 22:01 | Link to Comment william the bastard
william the bastard's picture

WTF?

Tue, 03/15/2011 - 22:23 | Link to Comment RoRoTrader
RoRoTrader's picture

Wondering the same thing myself, Orly.....was burned on the USD/JPY long Friday at just >82.00 and stupidly exited at just over 81.....

did make up for it on several IBEX shorts from around 10,400/500 and a slew of shorts put on last night from AUD/USD, EUR/USD, EUR/CHF, EUR/JPY, GBP/USD and miniDows.

Most of it was closed just after the European open and am currently flat.

I wrote an email to a friend saying I thought the central banks would throw everything at this today to stem a collapse and should have followed my own advice but 20/20 in hindsight. The key on that reverse trade long was the Nikki breakers.

Back to your question; I am wondering too. There is a positive divergence on the monthly RSI and stochs are O/S into the 10s with a range of 80 to 84.

Maybe a long at current price with a stop under the range low, but short answer is don't know and keep wondering when the Yen will get dumped in size.

Tue, 03/15/2011 - 22:32 | Link to Comment Orly
Orly's picture

Hang in there, Ro.  They can't keep it up forever!  Something's gotta give.

Wed, 03/16/2011 - 07:28 | Link to Comment Yen Cross
Yen Cross's picture

Orly you actually trade your account. I'm impressed.

Tue, 03/15/2011 - 20:45 | Link to Comment equity_momo
equity_momo's picture

The World will burn in fiat.  If the species survives WW3 that this is inevitably leading to , the textbooks might paint this as sanity. Independent critical thinkers and scholars will know better but the victor writes history.

Fiat must fail.

Tue, 03/15/2011 - 20:47 | Link to Comment Boilermaker
Boilermaker's picture

It's so fucking gay at this point that it has to be almost over.

Jesus Christ, I've seen it all.  Seriously, I have literally seen everything.

Tue, 03/15/2011 - 20:49 | Link to Comment Orly
Orly's picture

In the immortal words of the late, great Billy Mays, "But wait!  There's more!"

Tue, 03/15/2011 - 21:19 | Link to Comment Yen Cross
Yen Cross's picture

Billy Mays Ghost? I have a small story. Once upon a time there was this small broker that corked my BAT. I lost 20 dollars with a (k) behind it. Willy could swing well, and hard! It was just out of (Willy Mays) reach.

Tue, 03/15/2011 - 21:25 | Link to Comment mynhair
mynhair's picture

Does this mean I should not be in BAT?

Tue, 03/15/2011 - 21:37 | Link to Comment Yen Cross
Yen Cross's picture

Can I stick my finger into your vent to define your true sex? Then I'll answer your question!

Tue, 03/15/2011 - 22:18 | Link to Comment william the bastard
william the bastard's picture

Are you tmoseley?

Tue, 03/15/2011 - 22:27 | Link to Comment tmosley
tmosley's picture

Who's tmoseley?  Your abortionist?

Tue, 03/15/2011 - 22:31 | Link to Comment william the bastard
william the bastard's picture

You're a baby killer.Yes you are.

Tue, 03/15/2011 - 23:20 | Link to Comment tmosley
tmosley's picture

Christ, can you even make a single post without a grammatical error?

Hurr, UR some1 UR not, DURRR...

Tue, 03/15/2011 - 20:44 | Link to Comment Atomizer
Atomizer's picture

When there's an action, a reaction occurs. Everyone has been focused on Japan. Meanwhile Hillary is in Libya.

22 September 2010

Obama’s Remarks at Millennium Development Goals Summit

As President, I have made it clear that the United States will do our part.  My national security strategy recognizes development not only as a moral imperative, but a strategic and economic imperative.  Secretary of State Clinton is leading a review to strengthen and better coordinate our diplomacy and our development efforts.  We’ve reengaged with multilateral development institutions.  And we are rebuilding the United States Agency for International Development as the world’s premier development agency.  In short, we’re making sure that the United States will be a global leader in international development in the 21st century.


Barack Obama on Welfare & Poverty - Timeline 

The Special high-level meeting of ECOSOC with the Bretton Woods institutions, the World Trade Organization and the United Nations Conference on Trade and Development commenced at the United Nations Headquarters on 10 March. The two day meeting focused on the overall theme of “Coherence, coordination and cooperation on Financing for Development”.

At the opening, Mr. Lazarous Kapambwe, President of the Economic and Social Council (ECOSOC) urged the international community to “maintain its financial support for development efforts of Least Developed Countries (LDCs), including in the areas of development finance, aid for trade and debt relief.” Most LDCs are not on track to meet most of the MDG goals. LDCs have a higher level of vulnerability which constrains their capacity to mobilize domestic resources and absorb external shocks. Their limited access to private capital makes ODA the most vital source of development finance to achieve the MDGs and other development goals. It is important to note that LDCs are represented by 48 countries, comprising 11 per cent of the world population, but only 1% of the global trade.

http://www.un.org/en/development/desa/rss.xml

 

Ban orders 3 percent cut in UN budget  

UNITED NATIONS, March 9 (Xinhua) -- UN Secretary-General Ban Ki-moon "has instructed senior managers to prepare a budget with a 3 percent reduction as compared with the previous budget," UN spokesman Martin Nesirky said here Wednesday.The reduction would save 5.4 billion U.S. dollars, the spokesman told reporters here at a daily news briefing.The secretary-general has stressed to his senior advisors that they should be creative in seeing where they can find savings, he said.Ban told senior managers that "We must be realistic about the current economic climate. Even the wealthiest nations are tightening their belts and cutting budgets. The United Nations must be no less disciplined. We cannot go about business as usual, " Nesirky said.The final UN budget has to be approved by the 192-member UN General Assembly. "The secretary-general added that it will be up to member states to discuss and decide on the ultimate budget to be adopted, " Nesirky said. "He also encourages all UN entities and UN Member States to find ways to do more with less."

Now we sit back to watch NGO's create money out of thin air.. At this point, the Ponzi scheme is very, very fragile. Snickers!

Tue, 03/15/2011 - 21:26 | Link to Comment mynhair
mynhair's picture

What part of Shillary did you miss in the beginning of your post?  Like she counts.

Tue, 03/15/2011 - 22:22 | Link to Comment Orly
Orly's picture

Oh, she's knee-deep in the hoopla.  Believe.

Tue, 03/15/2011 - 20:46 | Link to Comment FunkyMonkeyBoy
FunkyMonkeyBoy's picture

Can these things be legally called markets anymore?

Ah, who gives a f**k.

Tue, 03/15/2011 - 20:47 | Link to Comment Boilermaker
Boilermaker's picture

You seem suspicious.

Tue, 03/15/2011 - 20:57 | Link to Comment John McCloy
John McCloy's picture

Incredible how courageous they all are withother peoples money when their nest egg is well preserved and nothing remains to be lost personally.
I mean with 250% GDP now up from 200% in a week in sure they wouldn't sell their treasuries..I mean cmon..we had to have a video soundbite today with Tim telling is so.

Tue, 03/15/2011 - 21:24 | Link to Comment Boilermaker
Boilermaker's picture

I'm sure that money was better spent propping up common equities than spent on the millions of homeless, radiated, and helpless citizens.

Tue, 03/15/2011 - 21:28 | Link to Comment mynhair
mynhair's picture

Ask Madoff.  He did well, until he didn't.

Tue, 03/15/2011 - 21:53 | Link to Comment Yen Cross
Yen Cross's picture

A rotting corpse in prison catches your Fancy? Move on.

Tue, 03/15/2011 - 20:46 | Link to Comment BetTheHouse
BetTheHouse's picture

And U.S. futures going green, too. 

Tue, 03/15/2011 - 21:49 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Dollar/Yen swap must be open, and Shirakawa is spending his funbuxx on Russian ETFs; that'll save the Japanese economy, eh Shirakawa?

Tue, 03/15/2011 - 22:03 | Link to Comment william the bastard
william the bastard's picture

you need sleep, rest, abstinence.

Tue, 03/15/2011 - 22:21 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Get a life.

Tue, 03/15/2011 - 22:24 | Link to Comment william the bastard
william the bastard's picture

For you, get whiskey.

Tue, 03/15/2011 - 20:47 | Link to Comment gimli
gimli's picture

In Japan --- lyrics for this song are:

I'm turning Bernankese, oh yes I'm turning Bernankese

http://www.youtube.com/watch?v=gEmJ-VWPDM4

Tue, 03/15/2011 - 20:50 | Link to Comment Orly
Orly's picture

Ya really think so?

Tue, 03/15/2011 - 20:54 | Link to Comment gimli
gimli's picture

Yeah --- I really think so .........

Tue, 03/15/2011 - 21:16 | Link to Comment gimli
gimli's picture

As sung by Tim Geithner to Ben:

 

I've got your picture of me and you
You wrote "I love you" I wrote "me too"
I sit there staring and there's nothing else to do
Oh it's in color Your hair is brown
Your eyes are hazel And soft as clouds
I often kiss you when there's no one else around

I've got your picture, I've got your picture
I'd like a million of you all round my cell
I want a doctor to take your picture
So I can look at you from inside as well
You've got me turning up and turning down
And turning in and turning 'round

I'm turning Bernankese
I think I'm turning Bernankese
I really think so
Turning
Bernankese
I think I'm turning
Bernankese
I really think so
I'm turning
Bernankese
I think I'm turning
Bernankese
I really think so
Turning
Bernankese
I think I'm turning
Bernankese
I really think so

I've got your picture, I've got your picture
I'd like a million of them all round my cell
I want the doctor to take a picture
So I can look at you from inside as well
You've got me turning up and turning down and turning in and turning 'round

I'm turning Bernankese
I think I'm turning
Bernankese
I really think so
Turning
Bernankese
I think I'm turning
Bernankese
I really think so
I'm turning
Bernankese
I think I'm turning
Bernankese
I really think so
Turning
Bernankese
I think I'm turning
Bernankese
I really think so

No sex, no drugs, no wine, no women
No fun, no sin, no you, no wonder it's dark
Everyone around me is a total stranger
Everyone avoids me like a cyclone ranger
That's why I'm turning Bernankese
I think I'm turning Bernankese
I really think so
Turning
Bernankese
I think I'm turning Bernankese
I really think so
I'm turning
Bernankese
I think I'm turning Bernankese
I really think so
Turning
Bernankese
I think I'm turning Bernankese
I really think so

Turning Bernankese
I think I'm turning Bernankese
I really think so
Turning
Bernankese
I think I'm turning Bernankese
I really think so
Turning
Bernankese
I think I'm turning Bernankese
I really think so
(think so think so think so)
Turning
Bernankese
I think I'm turning Bernankese
I really think so

Tue, 03/15/2011 - 21:20 | Link to Comment Spastica Rex
Spastica Rex's picture

Those lyrics are giving me the vapors.

Tue, 03/15/2011 - 22:08 | Link to Comment william the bastard
william the bastard's picture

Youe ass is dialated to 12 inches laterally, be forewarned

Tue, 03/15/2011 - 21:21 | Link to Comment Orly
Orly's picture

Excellent!

:D

Tue, 03/15/2011 - 20:46 | Link to Comment lizzy36
lizzy36's picture

Basically in 72 hours BOJ has spent half the amount that the Fed is spending in 9 months on QE2.

US markets will be up triple digits tomorrow.

The Bernank is taking notes.

Tue, 03/15/2011 - 20:49 | Link to Comment Boilermaker
Boilermaker's picture

DOW will literally open with futures at 300+, guaranteed.

Why the fuck not at this point?  What credibility is left to lose?  Hell, they might as well have fun with it.

Tue, 03/15/2011 - 20:52 | Link to Comment Alienated Serf
Alienated Serf's picture

please forgive my ignorance, but how exaclty is the money injected?  

they just buy in the open market?  do they go through some type of primary dealer ruse?

are any liabilities created from this, or is it pure digital printing?

thx

Tue, 03/15/2011 - 20:56 | Link to Comment tmosley
tmosley's picture

They passed a new "law" of some sort allowing direct purchase on the open market by the central bank, so yes, it is direct purchase--literal monetization of equities.

I give this shit a week.

Tue, 03/15/2011 - 21:03 | Link to Comment william the bastard
william the bastard's picture

You dare show your fuck face into a $34 GOLD ROUT?

Tue, 03/15/2011 - 21:12 | Link to Comment Concentrated po...
Concentrated power has always been the enemy of liberty.'s picture

your mother was a hamster and your father smells of elderberries

Tue, 03/15/2011 - 21:18 | Link to Comment tmosley
tmosley's picture

Once again, you show how dim witted you are.  Your attention span is shorter than a gnat, and they only live for 24 hours!

Tue, 03/15/2011 - 21:20 | Link to Comment Spastica Rex
Spastica Rex's picture

And go away, or we will taunt you a second time.

Tue, 03/15/2011 - 21:08 | Link to Comment Alienated Serf
Alienated Serf's picture

so they can litterally buy the entire market?  awesome.  and when they sell??

Tue, 03/15/2011 - 21:12 | Link to Comment Boilermaker
Boilermaker's picture

Who said they have to sell?  How much of the US market is owned by the FED?  Who knows?  Who cares?

None of the logic applies because it's literally a fucking joke now.  We've jumped the shark WITH the leather jacket on.

Tue, 03/15/2011 - 21:15 | Link to Comment Alienated Serf
Alienated Serf's picture

guess they will just be sole owner of every corp. listed on the nikkei.  nice.  they are fucked regardless.  

Tue, 03/15/2011 - 21:18 | Link to Comment Boilermaker
Boilermaker's picture

So are we and so is Europe.  It's not regional nor ethnic.  This is between the super-rich and the 'others'.

Just think they are slamming all this fucking money into the market in Japan while their people need food, water, and medical supplies.  Just so the investor class can not shit their huggies.  That's some seriously fucked up stuff.

Tue, 03/15/2011 - 21:56 | Link to Comment Alienated Serf
Alienated Serf's picture

trust me brotherman, i am aware of this.  the worlds 3rd largest economy imploding is going to have a lot of consequences.  some we can't possibly predict.  europe goes down next.

Tue, 03/15/2011 - 22:53 | Link to Comment VyseLegendaire
VyseLegendaire's picture

::shits his huggies::

Tue, 03/15/2011 - 21:19 | Link to Comment tmosley
tmosley's picture

They will sell in a vain attempt to stave off hyperinflation.

Idiots like Billy above can't see that we are entering the endgame here.  The curtains are down, and everyone can now see how the tricks are performed.  

Japan has a week, at best.

Tue, 03/15/2011 - 22:09 | Link to Comment william the bastard
william the bastard's picture

Why is your moms pussy 12 inches wide?

Tue, 03/15/2011 - 23:21 | Link to Comment tmosley
tmosley's picture

You are confusing your mother with mine again.

Christ, that whore's got two guys with arms up her ass up the the shoulder now.  I've never seen such a thing.

Get ready to hate me even more, son, cause I'm about to leave her.

Tue, 03/15/2011 - 21:20 | Link to Comment Seasmoke
Seasmoke's picture

Henry Winkler still has not recovered his career from that move

Tue, 03/15/2011 - 21:25 | Link to Comment Boilermaker
Boilermaker's picture

That may well be...but the man DID successfully jump a fucking shark!

Tue, 03/15/2011 - 21:31 | Link to Comment nonclaim
nonclaim's picture

Who said they have to sell?

They'll say it belongs to the people now. The companies are now "liberated" from the evil capitalists and speculators. [I'm half-joking here; I'm sure some governments will declare that]

Tue, 03/15/2011 - 21:26 | Link to Comment Cammy Le Flage
Cammy Le Flage's picture

I give this shit one day. You are too nice.

Tue, 03/15/2011 - 21:41 | Link to Comment brxn
brxn's picture

One day until what? A downtrend is resumed? Until the central bank injects more? 

Tue, 03/15/2011 - 21:44 | Link to Comment Boilermaker
Boilermaker's picture

Exactly, we are past the 'event horizon' now.  It's a self feeding monster.

Tue, 03/15/2011 - 20:58 | Link to Comment Boilermaker
Boilermaker's picture

I believe the BOJ literally buys directly through ETFs and direct common shares.  To my knowledge, they make no attempt to even hide it.

Why...are saying that the devastated and scared-shitless Japanese citizens are doing all this buying?  They have Scottrade there also, you know!  It could be!

 

Tue, 03/15/2011 - 21:04 | Link to Comment John McCloy
John McCloy's picture

300 Billion x leverage.
I cannot understand how the dollar should not be surging on this. Eventually it will. The markets told us today before autopilot took over that the dollar will go up and metals down. I'm not bashing metals I'm just saying the dollar will lose it's last resort status slowly but considering the beatdown today metals held strong. Correlation is braking off as sentiment changes.

Tue, 03/15/2011 - 21:58 | Link to Comment Yen Cross
Yen Cross's picture

ABOUT 50X1 does it According to the CFTC!

Tue, 03/15/2011 - 21:28 | Link to Comment Pegasus Muse
Pegasus Muse's picture

BOJ has spent half the amount that the Fed is spending in 9 months on QE2.

And the 1000 point plunge still cost them 2X - 3X what they pumped in.

Tue, 03/15/2011 - 20:48 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

And so the total involve to prevent the market from plunging a more 1,000 points is now ¥26.5 trillion, or $325 billion.

Chump change to the masters of the universe. Only 9 1/2 more months to bonus time. The little engine that could is still chugging along.

Beam me up Scotty, the humans aren't emotionally ready yet for the massive change that's coming and I'm sick and tired of arguing with them. Though the female side of the species is quite attractive.

Tue, 03/15/2011 - 20:50 | Link to Comment WineSorbet
WineSorbet's picture

How do you say BTFD in Japanese?

Tue, 03/15/2011 - 20:52 | Link to Comment Concentrated po...
Concentrated power has always been the enemy of liberty.'s picture

me love you long time helicopter bernanke-san?

Tue, 03/15/2011 - 21:02 | Link to Comment william the bastard
william the bastard's picture

I did last nite minus 1200. How I look now Papa?

Tue, 03/15/2011 - 21:13 | Link to Comment Concentrated po...
Concentrated power has always been the enemy of liberty.'s picture

you look like a bastard, just like the bastard who sired you.  just answerin' cause you asked...

Tue, 03/15/2011 - 20:52 | Link to Comment John McCloy
John McCloy's picture

Bernanke has taught them well. When the history books are written two centuries from now they will look back at this and ask how such masochistic leaders could replace physical oppression and tyranny with economic tyranny and it take the brain dead majority of the populace multiple world wars, genocide and cascading economic collapses in all nations for them to realize what we endure now is no different but stealthy.
In fact it is more dangerous because the dictators have no face but many faces.

Tue, 03/15/2011 - 21:22 | Link to Comment PY-129-20
PY-129-20's picture

You think this will appear in the history books then? Think again.

Tue, 03/15/2011 - 20:51 | Link to Comment HungrySeagull
HungrySeagull's picture

All created from Imagination in Binary form by keyboard to soothe the owie from those who keep grabbing red hot burning things.

 

If they should be so generous with money, the least they can do is whistle up the Baltic Index and move the world to deliver everything gratis and paid for to the Japanese people.

 

Don't worry about the USA, we can lose a city or three. Still room for more new ones.

 

It's amazing how they cry poverty and hold emaciated hands out and shit gold and marbles out the other.

Tue, 03/15/2011 - 20:52 | Link to Comment John Law Lives
John Law Lives's picture

The US House votes for another 3 weeks of "emergency" spending money:

http://news.yahoo.com/s/ap/20110315/ap_on_bi_ge/us_spending_showdown#mwp...

It is a real luxury for bureaucrats in Washington DC to have a friend in The Ben Bernank who will subsidize their spending frenzies.

100% Ponzi economy.

100% FUBAR.

Tue, 03/15/2011 - 20:55 | Link to Comment Misean
Misean's picture

Party on Wayne-san.

Tue, 03/15/2011 - 20:55 | Link to Comment Theta_Burn
Theta_Burn's picture

Is that text $10 donation # still floating around?...

Tue, 03/15/2011 - 20:56 | Link to Comment Buck Johnson
Buck Johnson's picture

Just wait when the news comes out that the reactors are in total meltdown and no amount of money will keep the exchange up.

Tue, 03/15/2011 - 21:07 | Link to Comment jtmo3
jtmo3's picture

Bull shit.

Tue, 03/15/2011 - 21:00 | Link to Comment Racer
Racer's picture

Welcome to Zimbabwe World just got into hyperspace, I just hope that the number of poor dying because of this will be less than 100 million and I see that as a 'good outcome' from this genocidal madness

Tue, 03/15/2011 - 21:00 | Link to Comment william the bastard
william the bastard's picture

WTFWYD?

Do NOT follow this link or you will be banned from the site!