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.

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
PolishHammer's picture

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

arnoldsimage's picture

nothing to see here. dow rallies 200.

mtomato2's picture

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

LFMayor's picture

Can I PURCHASE the blow up version of your avatar!

mtomato2's picture

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

MsCreant's picture

But I thought you taught math, not anatomy.

mtomato2's picture

38-24-36

is

WAY

math...

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.

 

 

TruthInSunshine's picture

Control:

'Team America is inbound and entering heavy.'

'I repeat, inbound and entering heavy'

Relay 7:

'Fuck yeah.'

 

 

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

Broken_Trades's picture

Thank you.

 

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

 

yawn

BigJim's picture

Quite.

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

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...

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.

RockyRacoon's picture

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

tmosley's picture

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

Oh yeah, before the armistice.

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!

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..

PolishHammer's picture

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

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.

walcott's picture

WW3?

fuck a bunch of midget slapheads! Bring it.

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."

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

RockyRacoon's picture

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

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.)

Sincerely,

The Dear One

SofaPapa's picture

Oh my God!!

 

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

G-R-U-N-T's picture

He's making me horny, said Barney!

AUD's picture

Nothing compared to the bombardment of Inchon.

buzzsaw99's picture

This is bullish.

Kapital Xposure's picture

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

 

man i am all for it!!

GoldbugVariation's picture

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

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.

ORI

http://aadivaahan.wordpress.com

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.

iota's picture

...who trades FX on 1M?

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

http://img819.imageshack.us/img819/7699/captureh.gif

BigDuke6's picture

Gold bitcheeeez.

Not that i like the phrase but its tradition.

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!

http://www.telegraph.co.uk/news/worldnews/asia/southkorea/8153291/South-Korea-warns-North-Korea-it-will-sternly-retaliate-to-any-further-provocation.html

BigDuke6's picture

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

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.

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 people...no problem. USD/JPY back where they started.

M4570D0N's picture

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

Judge Smales's picture

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

CitizenPete's picture

Perhaps your donation check to Tyler bounced again. 

john milton's picture

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

seems we will have a hectic day

Judge Smales's picture

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

papaswamp's picture

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

buzzsaw99's picture

+1

 

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

CitizenPete's picture

Don't forget your Zionist friends. 

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.