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North Korea Attacks South Korea Yellow Sea Island, South Korea On Highest Non-Wartime Alert In Response, USDJPY Goes Parabolic

Tyler Durden's picture


Update: South Korea has scrambled F-16 jets to its west coast.

It is time to see just how much WWIII is priced into this market. WSJ reports that the Koreas may have just crossed the line:"North Korea fired artillery at South Korea's Yeonpyeong island in the
Yellow Sea off the countries' west coast Tuesday afternoon, setting
houses on fire
. South Korea returned fire, according to residents on the
island speaking on South Korea's YTN television network.  A spokesman for South Korea's joint chief of staff confirmed the
exchange but didn't have details except to say "scores of rounds" were
fired by the North." The response: S. Korean military says it is on highest non-wartime alert after the North's shelling of island.

More from the WSJ:

The artillery—more than 50 rounds, according to island residents speaking on YTN—was fired from positions south of the North Korean city of Haeju.

The attack started at 2:34 p.m. local time, according to residents who were speaking on the TV network. There were no immediate reports of injuries.

About 1,200 people live on the island, which is 10 kilometers south of the tip of North Korea's south coast.

The attack is the second by North Korea this year against South Korea in the maritime border area of the Yellow Sea. In March, a North Korean submarine torpedoed and sank a South Korean warship near an island about 40 miles west of the island that was hit Tuesday.

And these tidbits coming in from Reuters:

  • Witness says power failure on South Korean island hit by shells; Residents evacuated to bunkers
  • Television pictures show at least four plumes of smoke from S.korea island
  • Witness says shelling continues on S.Korea island, a few houses have collapsed

...This pearl:

  • S. Korean military says it is on highest non-wartime alert after the North's shelling of island

And let's not forget this:

  • S.Korea top presidential aides meeting in underground bunker at presidential compound

Yen goes parabolic on the news:

In other news Netflix prepares to trade at one trillion forward PE as recently uncovered North Korean centrifuges are about to be put to the ultimate test.

Real time video feed from Al Jazeera:

Follow the latest news on Yonhap.


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Tue, 11/23/2010 - 02:55 | 748712 mophead
mophead's picture

They will drag China into this. Just you watch.

Edited: FYI - War is a racket. None of this is by chance. All planned. Kim Jong II is a paid tyrant. Just like Hitler, Mussolini, Napoleon, etc. The idea is to kick off WWIII in Asia, ultimately, (debt) enslaving most of the population. Russia will be dragged in as well. Everyone has been side tracked by the middle east tensions.

Tue, 11/23/2010 - 03:34 | 748765 Instant Karma
Instant Karma's picture

Strangely more effective in lifting the USD than a YEN intervention.

Tue, 11/23/2010 - 08:53 | 748985 66Sexy
66Sexy's picture

The important question is "why"?

i dont think north korea takes a dump without china's permission.

so: china gave the green light to north korea.

here comes a conventional arms race...

got oil?

But the primary issue is trust. The world policeman has gone insane. there are entities that are outside the jurisdiction of the US gov't; like the CIA, financial elites, military industrial complex, and others that would like a cold war. i bet russia wouldnt mind either.

without trust, where does that leave the financial system? what right does any government have to decree value when that authority has come into question?

got gold?

Tue, 11/23/2010 - 08:55 | 748992 66Sexy
66Sexy's picture

only 2 dead means its a message not a full blown hot war. theres no resources that we want in korea so we will probably not do anything rash. hard to politicize an ideological war.

Tue, 11/23/2010 - 09:35 | 749041 cossack55
cossack55's picture

You, sir, have obviously never had winter Kimchi.

Tue, 11/23/2010 - 03:45 | 748780 seton
seton's picture

If WWIII starts, it'll be in the Middle East. Guarantee my two cents.

Tue, 11/23/2010 - 03:55 | 748783 Tense INDIAN
Tense INDIAN's picture

some say its already going on ME....u cant call its wrong because 50 nations are involved in that WAR theatre.........whatever i think ME is the stage for WW3...but u will find some battles here n KOREAS....India-PAK...u dont want to miss that ...dont u......plenty of people and NUKES

Tue, 11/23/2010 - 08:12 | 748940 Xedus129
Xedus129's picture

WW3 will be fought.. on Earth.  Hence WORLD-WAR lol.

Tue, 11/23/2010 - 08:25 | 748948 barkingbill
barkingbill's picture

it may start in the middle east, but by definition a world war happens all over the globe. it also may have more then one start or flare up which later leads to one giant multi fronted war.

Tue, 11/23/2010 - 14:04 | 749862 dhengineer
dhengineer's picture

No, a world war can be contained to one continent.  WWI was only fought in Europe, essentially.  The "world" part comes from the participants.  Afghanistan and Iraq, with troops representing 50 countries, pretty much fits the description.  We just so happen to have flash points in India/Pak, Korea, and a few other places.

Tue, 11/23/2010 - 06:49 | 748904 Dollar Bill Hiccup
Dollar Bill Hiccup's picture

Drag China? North Korea does nothing without China's permission.

China is pushing back against the "currency war" with its own asymetric capacities.



Tue, 11/23/2010 - 09:02 | 748999 Big Corked Boots
Big Corked Boots's picture

NK is China's proxy.

Step 1 - Go to Califonia and fire an ICBM that everyone will see.

Step 2 - Start an "incident" in Korea.

Step 3 - Widen the incident with increased fissile production, more nuke tests, maybe a live above-ground test south of the DMZ. Wait for big US response.

Step 4 - Attack Taiwan. "Reunification."

Step 5 - Attack the US in the Pacific Ocean during the Taiwan response; drag Japan into it.

Step 6 - Attack the US in its home soil.

Step 7 - Kiss your asses goodbye... whichever side you're on, and wherever you may be.

Somewhere in there is a dump of Treasuries and a dollar collapse. No, I'm not looking forward to this, and no, I don't have my tinfoil hat on this morning.

Tue, 11/23/2010 - 09:14 | 749015 Max Hunter
Max Hunter's picture

Way too many eggs in the air for me to be relaxed.... Not sure if I subscribe completely to your view but, the geopolitical and economic situation of this world is a powder keg inside a building fire.. It's just a matter of time..

Tue, 11/23/2010 - 09:51 | 749078 LowProfile
LowProfile's picture

Step 6 - Attack the US in its home soil.

That would be suicide.  US has 18 Ohio class submarines.

Tue, 11/23/2010 - 13:16 | 749724 hedgeless_horseman
hedgeless_horseman's picture

Do all 18 run Windows?

Tue, 11/23/2010 - 10:05 | 749095 BigJim
BigJim's picture

I'm sorry? "Attack the US in its home soil."

The US would eat China alive in an armed conflict. Yes, China has some cute submarines; but the US is so far ahead militarily in every other respect it wouldn't make any difference.

I don't say this with any glee; I think the US' overwhelming military power is, overall, a bad thing for everyone, including Americans.

There won't be any direct military conflict between China and the US; ceratinly not on their home soil. Both are nuclear powers; it would be suicide.

Tue, 11/23/2010 - 10:15 | 749119 hugomarch
hugomarch's picture

Don't the Chinese have a million man standing army?

Tue, 11/23/2010 - 10:59 | 749217 Fish Gone Bad
Fish Gone Bad's picture

The United States has spent more money on its military and weapons than pretty much all the rest of the world... COMBINED.  Since the US is the "good guys" it is OK for them to have so very many weapons.

Tue, 11/23/2010 - 11:00 | 749220 matthylland
matthylland's picture

I have never understood the arguement that China (or North Korea) have such huge 'standing men armies'. I just don't see how that matters...what are they going to do...march 1 million people across the atlantic without us knowing? man - size of armies seems insignificant when comparing with today's technology.

Tue, 11/23/2010 - 11:25 | 749323 RockyRacoon
RockyRacoon's picture

Ever seen a column of ants cross a stream?  They just crawl over each other making a bridge, sacrificing the ones on the bottom.  No prob!

The Chinese should make it a few miles off their own coast.  It'll make a great Youtube item.

Tue, 11/23/2010 - 11:29 | 749344 Poundsand
Poundsand's picture

Well, kind of.  But even if it were a true army, good luck moving it anywhere.  This talk of an invasion of the US is not well thought out. 

Step 1.  Load troops on all those chinese container ships.

Step 2.  Set sail for the US.

Step 3.  Get up close and personal with Davy Jones Locker courtesy of a Los Angelos class US attack sub.

An invasion is never going to happen.  Nukes are another issue, but never an invasion.

Tue, 11/23/2010 - 11:29 | 749348 MachoMan
MachoMan's picture

I thought Iraq did too?  Giving old women shovels doesn't make them part of the military...  and certainly not combat ready/worthy.

Further, in modern warfare, sheer numbers of soldiers is meaningless.  With modern weaponry, additional people are simply additional cannon fodder.  A single soldier who is incredibly well trained and who has dynamic communication tools as well as access to the highest technological wonders can act as a force multiplier of incredibly grand scale.  Look at how we took control of Afghanistan...  ~100 guys?

About the only way for us to be defeated militarily is to cut the balls off the money changers and war profiteers...  other than that, we have all the tools at our disposal for victory in about any conceivable campaign.

Tue, 11/23/2010 - 11:34 | 749372 BigJim
BigJim's picture

As long as the campaign doesn't involve occupation, of course...

Tue, 11/23/2010 - 13:18 | 749730 MachoMan
MachoMan's picture

Yet.  Give us another 50 years of robot technology and we'll revisit the issue.  But yes, if you want to occupy a country, you have to essentially breed them out to succeed...  and even then, there is no guaranty.  We can decimate any standing army in seconds, but we have not the time, energy, nor resources to occupy virtually any nation.  Although, they've been incredibly successful at occupying america for decades.

Tue, 11/23/2010 - 07:06 | 748914 Oh regional Indian
Oh regional Indian's picture

Spot on Mophead. 

All Kabuki for the masses. Only, this is not ketchup but blood and real bombs.

The timing too is interesting,as it is pretty clear that QE2 is a fail, Irish bailout is already a fail, the FED is failing.....

As we have all discussed here many a time, the PTB have a well designed play-book, with many tricks in their bag and flexible bifurcations.

The parabolic yen, was that expected? Anyone understand the direct correlation?

And what will we wake up to tomorrow? Is this the start of the long leg down?

Head fake? Iran in the cross hairs?

Crazy, fascinating, tragic and comic times.

We are all Truman and life is one big SHOW!


Tue, 11/23/2010 - 08:19 | 748943 Bartanist
Bartanist's picture

On a bigger (longer term) chart the parabolic Yen is a tiny blip. Look at the scale and how far it has moved over the past 2 years.

Tue, 11/23/2010 - 08:35 | 748958 moregoldplease
moregoldplease's picture

Who was paying all these folks? Oh I get you watch a lot of Alien primogeniture programs on  "History" Channel

Tue, 11/23/2010 - 02:46 | 748715 Rahm
Rahm's picture

Game on. Game on.     Game on. Game on.


*Wayne's World Voice*

Tue, 11/23/2010 - 02:47 | 748717 greenewave
greenewave's picture

There is a very serious possibility we have a BANK RUN December 7th. Please watch and share this video with the people you care about (


This is really scary guys, people are already talking about it and it has spread from France to the UK and now coming to the United States.

Tue, 11/23/2010 - 06:48 | 748902 Ratscam
Ratscam's picture

So lets assume that I would be in favor of getting my money out of the bank. What should I do with it? Put it under my matrace? Ok I would do that but only with a couple of thous,not with tens or hundreds of thous. HUGE security problem.

So get real, what will happen is that a couple of tenthousand people will withdraw a couple of hundreds or thousand Euros each.

Who cares, it's a non event.

I prefer the idea of buying silver bullion!

Tue, 11/23/2010 - 08:29 | 748952 BayAreaAlan
BayAreaAlan's picture

Yeah, put it in your matrace!!

Tue, 11/23/2010 - 09:06 | 749002 mtomato2
mtomato2's picture

Spelingg fayul.  I'm on the verge of turning troll on this.

Tue, 11/23/2010 - 09:46 | 749067 MsCreant
MsCreant's picture

Aren;t U a Maff teecher? :-)

Tue, 11/23/2010 - 11:27 | 749341 RockyRacoon
RockyRacoon's picture

Holy shit.  There's an app for that.  Wonder if anyone notices that "ABC" with check mark on the tool bar of the reply window?   Sheesh.

Tue, 11/23/2010 - 08:31 | 748954 SPONGE
SPONGE's picture

"I prefer the idea of buying silver bullion!" 

 sounds like you already answered your question.

Tue, 11/23/2010 - 08:55 | 748993 max2205
max2205's picture

GL trying it in the US. They won't give u that much cash. It'll scare them though. But if everyone writes the cash out on a Check and maw it to your credit union it would work.

Too bad nobody had the balls to do it in 08 09

Tue, 11/23/2010 - 11:35 | 749375 MachoMan
MachoMan's picture

The people attempting to initiate bank runs are attempting to show the too big to fail banks their discontent.  However, we already had a massive bank run in the united states in 2008.  What happened then is the same thing that will happen now.  Essentially, money is pulled en masse from all the local and regional banks and DEPOSITED INTO THE TOO BIG TO FAILS because everyone knows that they will be backed by the federal government until the bitter end.  This time will be no different. 

In short, you're only helping the banks you despise.

Tue, 11/23/2010 - 02:55 | 748723 suteibu
Tue, 11/23/2010 - 02:55 | 748724 YHWH
YHWH's picture

It certainly is an exciting time to be alive!  :-)

Tue, 11/23/2010 - 03:30 | 748761 Id fight Gandhi
Id fight Gandhi's picture

It's the end of the world as we know it.

And I feel fine.

Tue, 11/23/2010 - 08:03 | 748935 nonclaim
nonclaim's picture

Enjoy it outside while you can.

Tue, 11/23/2010 - 02:59 | 748725 Hook Line and S...
Hook Line and Sphincter's picture

China uses North Korea as a wedge against the United States. It will be interesting to see how future inaction on their part is brought about to reach their objectives.

Tue, 11/23/2010 - 03:15 | 748748 Clancy
Clancy's picture

China doesn't control North Korea, dummy.  If it did it would stop them from running drugs into its territory and counterfieting its currency.

Tue, 11/23/2010 - 04:43 | 748807 Hook Line and S...
Hook Line and Sphincter's picture

Never said they control NK - Put your monocle on! Counterfeiting and drug running occurs between most countries. North Korea, although a serious pain to China (because they have to feed them to keep them from swarming their border with refugees), is used as a tool to expend US resources, and act as a buffer from US troops in S Korea (but obviously not as a buffer to trading!).

China would stomp that little dung heap in a second, if it's benefit didn't outweigh its cost.

Beijing is so complacent about their Mr ILL's nuclear program because it serves their interests. They regularly cut off the flow of oil to them when Kim JongILLMonkey doesn't do as he's told. 

Tue, 11/23/2010 - 05:16 | 748839 Clancy
Clancy's picture

Everyone would like to stomp that little dungheap.  No one has done it yet.

China is a world power now.  You seriously think they want to be allies with pissants like the North Koreans?  C'mon use your head.


FYI China's favorite country is South Korea.

Tue, 11/23/2010 - 05:44 | 748858 Hook Line and S...
Hook Line and Sphincter's picture

Not allies, of course not. I can tell though, that you'd quite enjoy a good session giving that pig of a human Kim Jong Ill a good beating!

My point was a simple illumination of how it has been, and will continue to be interesting to see how China uses NK to achieve certain geopolitical advantages.

If you want to do some quick and entertaining research, search the events that are associated around China's cutting off oil to North Korea. The correlations are quite clear. Correct, they don't control the intracacies of NK's internal government, but they do force the hand of pig-boy to quite a few things that are solely in their best interest.

Tue, 11/23/2010 - 16:51 | 750457 Poundsand
Poundsand's picture

And to continually test US resolve.  Think of it as a way to test just how far they can push us.

China gives NK the ok to build a nuke plant designed to build weapons and sees what the US does.

Answer: Help them build it and give them oil for their energy needs.

China has NK provoke the SK with the attempted sinking of their naval ship.

Answer:  Point fingers at them, say "Bad man... Bad man!" But at least this time don't give them technology to build better torpedoes.

China has NK shell SK with over 200 artillary rounds, but does it immediately after a SK training exercise.

Answer:  Point fingers at them, say "Bad man... Bad man!" but admit that it was likely really our fault to begin with as the SK and US had the audacity to run military training exercises.

NK is just a proxy for China.  NK takes all the risk if things really were to get out of hand, but it's leaders starve their people anyway, big deal.  China gets answers to much debated questions regarding their economy and Taiwan. 


How hard can it be to see the escalation over the last two years?

Tue, 11/23/2010 - 05:14 | 748838 Ted K
Ted K's picture

The North had the confederacy's testicles in a vise at the end of the Civil War, that doesn't mean you can stop all smuggling or border movements "dummy".  North Korea has been China's anus licker for a long time, and will continue to be---unless they would like to increase the rate of starvation to food crumbs from Russia.

Tue, 11/23/2010 - 08:22 | 748945 Bartanist
Bartanist's picture

Is that like saying the US does not control Afghanistan or Mexico because if they did then they would stop the CIA from running drugs into the US?

Tue, 11/23/2010 - 10:25 | 749135 i-dog
i-dog's picture

Oh, dear ... the CIA junked you!

Tue, 11/23/2010 - 11:30 | 749350 RockyRacoon
RockyRacoon's picture

He's on the "disappear" list now.

Tue, 11/23/2010 - 06:58 | 748907 i-dog
i-dog's picture

"China uses North Korea as a wedge against the United States."

Exactly. Just another tension point, among many, to periodically generate some chatter and sabre rattling so that the US military can top up their funds and push their allies to do the same. In this case, however, it is probably 'Herro, Hans' looking for more funds for food to shut him up.

Contrary to popular belief, China is not a natural aggressor. They prefer to use political manoeuvering (and maybe an occasional provocative missile launch to push the US to "put up, or shut up").

Sorry people ... no war imminent in East Asia. Watch the magician's other hand. :)

Tue, 11/23/2010 - 09:26 | 749032 Green Leader
Green Leader's picture

"Watch the magician's other hand."

Very well said.

Tue, 11/23/2010 - 14:02 | 749858 sschu
sschu's picture

no war imminent in East Asia

One would certainly hope so, our last couple of military adventures in Asia have not been all that productive, Vietnam and Korea.  Not sure I would call WWII an Asia ground war, although if we had not dropped the big one(s) on Japan we would have learned.  Many suggest 1M US casualties if we we required to invade and subdue the Japanese in 1945.

Lets hope our leaders recognize that a land war in Asia is a REALLY bad idea.  IMHO, if there is a war to be fought it will be over resources (oil, food or water) and will involve the Chinese (lebensraum) along with the Russians/Slavs/Indians and Muslims in some weird configuration.  It reminds one of WWI alliances ...

But we just may be so poorly led that we decide to give it a go.  Hope not.


Tue, 11/23/2010 - 02:59 | 748727 DoChenRollingBearing
DoChenRollingBearing's picture

All of this worries the Bearing immensley.  As does everything else.

Hide out in gold/silver/platinum, maybe a foreign pit-stop for your assets?

Scary times, THINK how to secure your family...

Tue, 11/23/2010 - 03:11 | 748741 Hook Line and S...
Hook Line and Sphincter's picture

My heart resides the same place yours, submerged under a very dark, creepy, dank blanket of very negative energy.

The timeline is what keeps bothering you. Are you thinking, 'Have I already made a mistake by my hesitation?' Yet, you keep hesitating. 

The wings of Peru await...act now.

Tue, 11/23/2010 - 03:32 | 748764 DoChenRollingBearing
DoChenRollingBearing's picture

Hook, at least we have SOME assets in Peru, it would be a reasonably comfortable landing there.  But, I sure would miss some American things I am accustomed to (books especially).  And the weather is not good some 8 months per year.

And we have some gold, very well hidden, there.

But I like (and/or have liked) USA-style freedom, at least until recently.

At least our daughter no longer bitches when I mention that Peru is our escape hatch.  Maybe I should just wire another $50,000 there...

Tue, 11/23/2010 - 04:07 | 748789 ThreeTrees
ThreeTrees's picture

Books are keeping you in America?  Dude, this is the internet. You can access it from anywhere and everything is free if you know where to look.

Tue, 11/23/2010 - 04:51 | 748825 Hook Line and S...
Hook Line and Sphincter's picture

I'm currently investigating numerous relocation sites. So far, Uruguay is looking like a good place to sojourn. Much business done in English, yet the main language is Spanish with a coloring of Italian spoken (imagine that!). Nice weather, and no recent juntas. Best beef on the planet as well. 

It just keeps grating at me though... is my lack of decisiveness due to that part of me that just doesn't want to believe my lying eyes. I've never been so slow at the draw.


Tue, 11/23/2010 - 09:30 | 749036 Green Leader
Green Leader's picture

I tell my friends to pray asking for wisdom and swift decisiveness in their actions.


Tue, 11/23/2010 - 11:20 | 749313 Oh regional Indian
Oh regional Indian's picture

I'm a decider.

You can ask me. But, if you fool me once, shame on you.

Fool me twice, I'll be nice.


Butt, in all seriousness, now is a time to be sharpening the in-stinct, the sixth sense, the  voice in your belly.

It's never wrong and it's mostly never heard. If you can silence your mind, stop the inner chatter, the path becomes clear as a forest in moonlight, just bright enough to be perfect, never blinding.

Ponder that.


Tue, 11/23/2010 - 18:33 | 750784 Green Leader
Green Leader's picture

Keep reading these forums and the chatter/static won't go away. Perhaps is in the design...

I need to go back to meditation. At least air quality has improved & can get back to working the land.

Tue, 11/23/2010 - 09:38 | 749052 cossack55
cossack55's picture

Montevideo, on weekends you can dive the Graf Spee.

Tue, 11/23/2010 - 05:02 | 748832 anvILL
anvILL's picture

I've never been to Peru but its easy to buy books from the American Amazon in Japan.

Tue, 11/23/2010 - 18:42 | 750806 Green Leader
Green Leader's picture

Maybe you could start manufacturing and/or assembling bearings in Perú, perhaps @ a smaller city where hydropower is available.

I see global supply lines disruptions in the not so distant future. Manufacturing should be localized around the Caribbean basin region: Perú, Colombia, Venezuela, Dominican Republic, Cuba.

I've been checking agricultural equipment made in Perú:



Tue, 11/23/2010 - 06:17 | 748884 PolishHammer
PolishHammer's picture

What would keep me away from Peru is their not-so good looking women

Tue, 11/23/2010 - 03:17 | 748752 DoChenRollingBearing
DoChenRollingBearing's picture

Also, our Peruvian bearing import company imports over 65% of its bearings from South Korea, which to now has worked out great...

Will our importing from Korea still work out OK...?

Hope so, have to see.


As I replied on another thread, it looks like things are moving faster out of control.  Best batten down the hatches, stick with hard assets, and pray for the best.

I feel more paranoid than ever before...  And I was worried under Jimmy Carter!  FWTIW!

Tue, 11/23/2010 - 05:04 | 748827 Hook Line and S...
Hook Line and Sphincter's picture

Paranoia is a condition based on an unrealistic perception of the outside world, sometimes enhanced by a unbalanced self-image. That, DCRB, is NOT what you are experiencing.

Concern does not equal paranoia, although it is a perjorative that will be leveled at you by those absorbed within the CesspoolMatrix.

Tue, 11/23/2010 - 10:17 | 749123 blunderdog
blunderdog's picture

"an unrealistic perception of the outside world, sometimes enhanced by a unbalanced self-image"

Oh, come on, that describes the majority of the US population.

Just because it's rampant doesn't mean it's healthy.

Tue, 11/23/2010 - 03:01 | 748730 GrouchoNotKarl
GrouchoNotKarl's picture

It's funny I have to watch aljazeera online to get this news and no US news site is even covering this even at this time.

Tue, 11/23/2010 - 03:05 | 748733 traderjoe
traderjoe's picture

They're still probably covering the bullish GM IPO. /sarcasm CNBS picked up a bit ago...

Tue, 11/23/2010 - 03:10 | 748740 chindit13
chindit13's picture

CNN International was on this about 20 minutes after the first shots were fired.

Tue, 11/23/2010 - 03:23 | 748755 GrouchoNotKarl
GrouchoNotKarl's picture

Admittedly the US version of CNN is markedly dumbed down and only US-centric vs. CNN international which seems actually relevant/informative.  I get the dumbed down version.

Tue, 11/23/2010 - 04:05 | 748788 UncleFurker
UncleFurker's picture

You get the dumbed down version of everything. Even "Dancing with the Stars".


Just switch over to HLN and watch re-runs of Natalie Hollaway and go shopping. There's a good chap.



Tue, 11/23/2010 - 03:40 | 748768 Id fight Gandhi
Id fight Gandhi's picture

True, bte earnings from hpq, netflix price hikes, fluff stories about how well the s&p will finish the year.

WWIII nope, nothing.

Tue, 11/23/2010 - 03:42 | 748773 Id fight Gandhi
Id fight Gandhi's picture

Actually try works on the iPad in the browser. Sky news, bloom, CNN international, BBC.

Tue, 11/23/2010 - 06:18 | 748886 PolishHammer
PolishHammer's picture

AlJezeera is top notch, my fav news channel atm

Tue, 11/23/2010 - 09:36 | 749046 A Proud Canadian
A Proud Canadian's picture

Well, Dancing with the Stars was on last night!  The US media is holding for reports of more TV shootings in response to Bristol Palin still being on.  One MUST prioritize!

Do you suppose that Kim was angry about that too?

Tue, 11/23/2010 - 03:05 | 748734 revenue_anticip...
revenue_anticipation_believer's picture

East Asia Co-prospertity by China, proxy war staging by North Korea...GOOD no war-declaration needed, since no peace treaty was ever signed... Its a 'test signal' controlled applied force adjunct to diplomacy...not Sarejvo July 1914...all pretty much the 'next steps' in determining who controls the sea lanes, the trade, the mineral/oil/gas rights...all that stuff... And, China, Coveting North Korea since June 1950 certainly is NOT going to allow the irrational N.Korean leaders to disorganize the situation...N.Korea a useful proxy to become a chinese controlled Taiwan...'partners in co-prosperity'...'Japan, too'... Peace and a new normal with China Politically/Economically 'in charge'...WAR...there can be no question, it is impossible here...nuclear war is MAD, not tactical/strategic.. ALL VERY INTERESTING...back to 'risk off' dollar up stocks down...wonderful..QE2 guaranteed to work...

Tue, 11/23/2010 - 03:08 | 748738 YHWH
YHWH's picture

Cocaine is one helluva drug....

Tue, 11/23/2010 - 03:43 | 748776 TruthInSunshine
TruthInSunshine's picture

Giggity Giggity!!

Tue, 11/23/2010 - 03:44 | 748777 TruthInSunshine
TruthInSunshine's picture



Tue, 11/23/2010 - 07:03 | 748912 i-dog
i-dog's picture

Good analysis ... though a little disjointed :S (Didn't they cover sentence construction at your school?).

Tue, 11/23/2010 - 03:07 | 748735 suteibu
suteibu's picture

China in row over Japanese island, now this.  Obama is being tested.

Tue, 11/23/2010 - 06:22 | 748887 PolishHammer
PolishHammer's picture

It did happen around 3am, did Hillary call him?

Tue, 11/23/2010 - 03:08 | 748737 chindit13
chindit13's picture

I am going to guess and say that the "Crown Prince" is behind this, just as he was behind the torpedo.  He needs to prove that he has graduated from microwaving cats to doing manly sort of aggression;  otherwise another strongman will end the reign of his family over N. Korea's National Death Camp.  After it came to light that the PRK has another high speed centrifuge facility previously unknown, the Northies had to flex their muscles lest they be called out again on violations of agreements they had previously made.

Before this blows over---which it will---and ignites the next equity relief rally, expect the Northies to lob a missile over Japan and into the Pacific east of Tokyo.  The main problem with that is that the guidance systems are not all that good and the PRK only knows the landing spot within +/- 250 miles.

In closing, this is not the end of the world.

Tue, 11/23/2010 - 04:01 | 748786 nopat
nopat's picture

Agreed, however as with any change in power, there is a high degree of uncertainty. I don't think it is fully known/understood how KJI's son will respond to US tactical nuclear weapons back on the peninnsula. South Korea is in the VERY tricky spot of having China as it's biggest customer, but needing to respond to provocations to one of China's allies at a time when the markets are less than favorable. This much is certain: South Korea doesn't want to deal with the North problem a fuckload more than China.

China knows this.

Tue, 11/23/2010 - 09:25 | 749030 NumberNone
NumberNone's picture

The US has been fretting over N Korea reactors for years.  Does the US miraculously now get a greenlight to take them out over this incident?  Coincidence this story came out on Sunday? 

Tue, 11/23/2010 - 03:13 | 748745 Lapri
Lapri's picture

Japan's Nikkei newspaper reports North Korea fired more than 200 artillery shells, and South Korea fired back at least 80.

Tue, 11/23/2010 - 03:17 | 748751 Homeland Security
Homeland Security's picture

Do not be affraid - the US is prepared to shoot down any of North Korea's No Dong, Taepo Dong, or Long Dong missles. The US is even prepared to shoot down the dreaded Long Wang if required to protect its broke-ass citizens.

Tue, 11/23/2010 - 03:25 | 748756 Rusty Shorts
Rusty Shorts's picture

Watch out for the Short Dong missle, (aka "Stub Muffin").

Tue, 11/23/2010 - 11:47 | 749446 RockyRacoon
RockyRacoon's picture

The dreaded Dong Twat missile has multiple warheads.

Tue, 11/23/2010 - 14:17 | 749898 Sabibaby
Sabibaby's picture

The DongDP penetrates two different locations at the same time. It's similar to the DongShocker only the DongShocker is manned by one person and the DongDP is actually two people.

Tue, 11/23/2010 - 03:32 | 748758 TruthInSunshine
TruthInSunshine's picture

Koreas Trade Fire Near Border

South Korea Scrambles Fighter Jets

By THE ASSOCIATED PRESS 20 minutes ago

South Korea said it has returned fire after North Korea shot dozens of rounds of artillery onto an island near the countries’ western border

Tue, 11/23/2010 - 03:27 | 748760 Glasgow Gary
Glasgow Gary's picture

This is not a good development if you are a financial institution trying to manage a large short position in silver and gold, with a series of expirations dead ahead.


PS Didn't some guy on here named Archduke Ferdinand say "Don't worry, I'm about to get shot."

Tue, 11/23/2010 - 03:42 | 748774 revenue_anticip...
revenue_anticipation_believer's picture

...... a large short position in silver and gold, CUTE revenge so sweet,

with a series of expirations dead ahead.



ha ha ah ha had been had, too bad...

Tue, 11/23/2010 - 04:37 | 748813 PolishHammer
PolishHammer's picture

He said he likes riding open top cars, apparently touring the Korean Penninsula atm.

Tue, 11/23/2010 - 03:41 | 748772 arnoldsimage
arnoldsimage's picture

nothing to see here. dow rallies 200.

Tue, 11/23/2010 - 09:13 | 749011 mtomato2
mtomato2's picture

Can you post the blown-up version of your avatar?

Tue, 11/23/2010 - 10:30 | 749146 LFMayor
LFMayor's picture

Can I PURCHASE the blow up version of your avatar!

Tue, 11/23/2010 - 12:45 | 749633 mtomato2
mtomato2's picture

Yeah.  That's what I meant.  Maybe I can use it in class somehow.

Tue, 11/23/2010 - 16:52 | 750458 MsCreant
MsCreant's picture

But I thought you taught math, not anatomy.

Wed, 11/24/2010 - 23:06 | 754032 mtomato2
mtomato2's picture





Tue, 11/23/2010 - 03:43 | 748775 Ahmeexnal
Ahmeexnal's picture

North Korea has denied any involvement in this episode, no surprise there.

Probably just some weather balloons hit by lightning and falling on the island.

Incidentally, you might want to buy some RTN, NOC, LMT.



Tue, 11/23/2010 - 03:51 | 748782 TruthInSunshine
TruthInSunshine's picture


'Team America is inbound and entering heavy.'

'I repeat, inbound and entering heavy'

Relay 7:

'Fuck yeah.'



Tue, 11/23/2010 - 04:13 | 748795 dickbar
dickbar's picture

"parabolic"... please... get a bloody grip... it's like reading the Sun sometimes on here... just calm down and get a little perspective

Tue, 11/23/2010 - 05:54 | 748871 Broken_Trades
Broken_Trades's picture

Thank you.


Looking at a one month of USD/JPY and todays action looks like static



Tue, 11/23/2010 - 10:17 | 749125 BigJim
BigJim's picture


Describing it as 'parabolic' is... hyperbolic.

Tue, 11/23/2010 - 04:16 | 748796 dickbar
dickbar's picture

"It is time to see just how much WWIII is priced into this market"... you're a bunch of sensationalist idiots, it's embarrassing... crude is -70c on the day... that's how much it matters...

Tue, 11/23/2010 - 09:12 | 749009 MeTarzanUjane
MeTarzanUjane's picture

You should see how many shill usernames they have. 99% of all these comments are made by the shill crew.

Sometime I feel very embarrassed for them then the UGG's guy shows up selling footwear.

Tue, 11/23/2010 - 11:51 | 749471 RockyRacoon
RockyRacoon's picture

Hey, the Uggs ads are funny.  They do however screw up the comments tracking mechanism.

Tue, 11/23/2010 - 10:51 | 749183 tmosley
tmosley's picture

When was the last time that North and South Korea exchanged artillery fire?

Oh yeah, before the armistice.

Tue, 11/23/2010 - 04:31 | 748805 squexx
squexx's picture

Son of a bitch! I live in a small rural town not too damn far from there! A bit more than an hour or so!

Tue, 11/23/2010 - 04:33 | 748809 omer10
omer10's picture

Risk off bithces!,

nothing touches Gold, and Silver though, Yesterday they held the Nasdaq by the apple, interesting what they will hold today..

Tue, 11/23/2010 - 08:00 | 748931 MsCreant
MsCreant's picture

Options expiration.

Tue, 11/23/2010 - 04:35 | 748811 PolishHammer
PolishHammer's picture

Look for ES to go parabolic too.  This is good news for the industry.

Tue, 11/23/2010 - 04:39 | 748816 Number 156
Number 156's picture

I doubt the South will escalate too far, they're more afraid of the markets than they are of the shelling.

Tue, 11/23/2010 - 04:49 | 748822 walcott
walcott's picture


fuck a bunch of midget slapheads! Bring it.

Tue, 11/23/2010 - 04:57 | 748828 Marcus_Junius_Brutus
Marcus_Junius_Brutus's picture

Calm down!!!

This is a disputed island and they had a lot of clashes over it before without triggering world war III.

According to the Daily Telegraph: "The islands were the scene of three skirmishes between the navies of North and South Korea in 1999, 2002 and most recently in 2009 when a North Korean patrol ship was set on fire by South Korean gunfire."

Tue, 11/23/2010 - 04:59 | 748829 PolishHammer
PolishHammer's picture

Why do people live there then?

I'd rather settle in Detroit than on an island that is disputed between 2 crazy asian countries

Tue, 11/23/2010 - 11:53 | 749480 RockyRacoon
RockyRacoon's picture

If I wanted something I wouldn't destroy it first.  Those NKs are really smart.

Tue, 11/23/2010 - 05:06 | 748830 williambanzai7
williambanzai7's picture

Tue, 11/23/2010 - 05:37 | 748848 chindit13
chindit13's picture

Dear Mr. Banzai,

I must say you've captured me to perfection.  One of my eleven year old girlfriends says I've never looked so buff!  Free gruel and some of my Remy Martin Special Reserve if you ever make it to Pyongyang!  And you've never really had a Margarita until you taste one I mix in my high speed centrifuges, so come thirsty.  By the way, can you bring some Vidal Sassoon Conditioner?  Winter climate here is a bitch on my 'fro.  And you definitely do not want a guy like me to have a bad hair day.

(You know I've won both North Korean Idol and PRK's Dancing With the Stars for the last nine years running.  Only the last three years for Mr. Universe North Korea, but I got a bootleg copy of Buns of Steel to make sure I make it four.)


The Dear One

Tue, 11/23/2010 - 08:26 | 748950 SofaPapa
SofaPapa's picture

Oh my God!!


I spit up my orange juice with these!!  Beautiful!  You are a sick man, WB.

Tue, 11/23/2010 - 16:48 | 749093 G-R-U-N-T
G-R-U-N-T's picture

He's making me horny, said Barney!

Tue, 11/23/2010 - 05:04 | 748833 AUD
AUD's picture

Nothing compared to the bombardment of Inchon.

Tue, 11/23/2010 - 05:12 | 748834 buzzsaw99
buzzsaw99's picture

This is bullish.

Tue, 11/23/2010 - 05:13 | 748837 Kapital Xposure
Kapital Xposure's picture

its time for a party????????


man i am all for it!!

Tue, 11/23/2010 - 05:37 | 748852 GoldbugVariation
GoldbugVariation's picture

Why are some American posters here excited about the prospect of WWIII?  This question is meant seriously.

Tue, 11/23/2010 - 07:40 | 748920 Oh regional Indian
Oh regional Indian's picture

Gold, in reality, the big war is baked into the human pie.

Given the usually gloomy/doomy sense here (driven by reality as opposed to rose tinted glasses), it is more of a "let's get it over with" kind of thing.

I doubt anyone really relishes the prospect of millions dying.

Oh, and the war is on anyways, in every sphere. Most just cannot see it yet.


Tue, 11/23/2010 - 08:37 | 748967 fallst
fallst's picture

Because watching this slowww moootion 10 year financial train wreck, means 7 more years of torture, since we just completed Year 3.

Seven more years takes too long.

Tue, 11/23/2010 - 05:38 | 748854 iota
iota's picture

...who trades FX on 1M?

Pump it up to H4 and it wasn't that dramatic.

Tue, 11/23/2010 - 05:39 | 748855 BigDuke6
BigDuke6's picture

Gold bitcheeeez.

Not that i like the phrase but its tradition.

Tue, 11/23/2010 - 06:07 | 748856 CitizenPete
CitizenPete's picture

I just order 3 more cases of 7.62x39 and a case of canned chicken.

If there is a large exit of refugees to the US do you think massage parlor rates will drop significantly?


All in jest, all in jest! (I really bought tuna.)


Silver Beeeaches!


Retaliation threat to you NK bitches!

Tue, 11/23/2010 - 06:26 | 748889 BigDuke6
BigDuke6's picture

i'd be shorting massage parlour rates and going long on manufacturers of pyong-yang cheesy dick treatments

Tue, 11/23/2010 - 05:52 | 748869 Handle with care
Handle with care's picture

Not much affect on futures.  But then the imminent collapse of the Irish bailout and the FBI insider trading raids haven't affected them much either.


I guess it'll take a threat to the bonus pool before Wall St pushes the markets down just to remind everyone who is boss and that transferring all the money in the world to their pockets is really the best course of action for everyone.

Tue, 11/23/2010 - 05:55 | 748872 papaswamp
papaswamp's picture

Panic ended quickly as NK once again gets away with hammering SK. Sink a ship no retribution. Lob 50 arty rounds at problem. USD/JPY back where they started.

Tue, 11/23/2010 - 05:57 | 748873 M4570D0N
M4570D0N's picture

Why does the supposed real time video feed from al jazeera take me to some Danika Patrick bullshit site?

Tue, 11/23/2010 - 06:26 | 748890 Judge Smales
Judge Smales's picture

Was she naked? If so, quit your bellyaching. :<)

Tue, 11/23/2010 - 06:49 | 748906 CitizenPete
CitizenPete's picture

Perhaps your donation check to Tyler bounced again. 

Tue, 11/23/2010 - 06:02 | 748877 john milton
john milton's picture

banks are for sale in ireland -central bank of ireland-

seems we will have a hectic day

Tue, 11/23/2010 - 06:25 | 748888 Judge Smales
Judge Smales's picture

OK, let's predict: How is Harry Wanker going to spin this as bullish?

Tue, 11/23/2010 - 06:28 | 748892 papaswamp
papaswamp's picture

Increased Arms sales? Obama seems quite good at those...$60 Billion in aircraft to the Saudis. 

Tue, 11/23/2010 - 06:47 | 748901 buzzsaw99
buzzsaw99's picture



but clearly the south has no stomach for war so this may be bearish after all.

Tue, 11/23/2010 - 06:48 | 748903 CitizenPete
CitizenPete's picture

Don't forget your Zionist friends. 

Tue, 11/23/2010 - 06:28 | 748893 PolishHammer
PolishHammer's picture

Harry would correctly predict that YEN will regain and ES will rally.


Yen is now higher than before the attack.  I see a lot of green at open or some red then the green rally to recap.

Sneer at Harry at your own risk.

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