USDJPY Goes Bidless

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Wed, 03/16/2011 - 17:21 | 1063201 Concentrated po...
Concentrated power has always been the enemy of liberty.'s picture

so it's yen to infinity and the dollar gets the big blue swirly.  Does that mean gold catches a better bid?

Wed, 03/16/2011 - 17:20 | 1063244 sunny
sunny's picture

yes as in YES!!!

sunny

Wed, 03/16/2011 - 17:26 | 1063295 LowProfile
LowProfile's picture

Actually just the opposite.  http://finance.yahoo.com/news/US-Dollar-Japanese-Yen-Poised-fxcm-1180438...

Short/medium turn, expect PM weakness.

And don't get all pissy about this, it's probably the last best buying opportunity.

Wed, 03/16/2011 - 17:29 | 1063322 Raymond K Hassel
Raymond K Hassel's picture

I don't get pissy about anything from yahoo finance.

Wed, 03/16/2011 - 17:35 | 1063376 ColonelCooper
ColonelCooper's picture

lol

Wed, 03/16/2011 - 17:42 | 1063406 LowProfile
LowProfile's picture

Oh, I'm sorry.  I didn't realize the source wasn't up to your standards.

Does this make it more acceptable? http://www.dailyfx.com/forex/technical/article/fx_options_forecast/2011/...

Idiot.

Wed, 03/16/2011 - 17:45 | 1063426 ColonelCooper
ColonelCooper's picture

Come on, it WAS funny.

Wed, 03/16/2011 - 17:53 | 1063470 d00daa
d00daa's picture

If you take some time, carefully clean the sand out of that cavernous vagina of yours, you just might, possibly,  find your long lost sense of humor.  Maybe.

Wed, 03/16/2011 - 17:55 | 1063486 ColonelCooper
ColonelCooper's picture

Now that's really funny.

Wed, 03/16/2011 - 18:24 | 1063669 Cindy_Dies_In_T...
Cindy_Dies_In_The_End's picture

alright you all. Group hug.

Wed, 03/16/2011 - 18:33 | 1063721 10kby2k
10kby2k's picture

78.14 right now

Wed, 03/16/2011 - 18:51 | 1063831 chumbawamba
Wed, 03/16/2011 - 18:52 | 1063837 chumbawamba
chumbawamba's picture

Oh shit, I didn't realize how punny this is until after I posted it.

I amuse myself.

I am Chumbawamba.

Wed, 03/16/2011 - 19:00 | 1063874 Fish Gone Bad
Fish Gone Bad's picture

+1

Wed, 03/16/2011 - 18:55 | 1063842 LowProfile
LowProfile's picture

Laugh it up.

Hope you planned ahead.

Wed, 03/16/2011 - 20:19 | 1064165 I only kill chi...
I only kill chickens and wheat's picture

Howdy Col. I've disagreed with some your stuff, but what's with all

the junking. Obviously things are too intense for some people to handle.

Wed, 03/16/2011 - 19:56 | 1064085 let-them-eat-cake
let-them-eat-cake's picture

The junks you got will be out of pocket right about now and for the next week or so.

Wed, 03/16/2011 - 17:22 | 1063251 Yancey Ward
Yancey Ward's picture

"Would you say it's time for our viewers to crack each other's heads open and feast on the goo inside?"

Wed, 03/16/2011 - 17:25 | 1063283 morph
morph's picture

Yes I would kent.

Wed, 03/16/2011 - 17:26 | 1063298 Yancey Ward
Yancey Ward's picture

The Simpsons comfort me in times of zombie apocalypse.

Wed, 03/16/2011 - 17:34 | 1063351 Id fight Gandhi
Id fight Gandhi's picture

Me too

Controlled Nuclear fission is a demanding mistress.

Wed, 03/16/2011 - 17:53 | 1063475 eatthebanksters
eatthebanksters's picture

Mistresses by nature are out of control...

Wed, 03/16/2011 - 17:32 | 1063355 homersimpson
homersimpson's picture

I offer you a half eaten donut and thank you for your support for all my years at the Nuclear Power Plant. I didn't know so many people wanted to see me in action for so long.

Wed, 03/16/2011 - 17:45 | 1063429 10kby2k
10kby2k's picture

no disrespect homer, but i'm a southpark guy

Wed, 03/16/2011 - 18:58 | 1063860 homersimpson
homersimpson's picture

That wasn't Duff beer I just saw you drink..

Wed, 03/16/2011 - 17:58 | 1063512 MayIMommaDogFac...
MayIMommaDogFace2theBananaPatch's picture

Stoopid drinking bird!!!

 

http://www.youtube.com/watch?v=sKdic5rBa7g

Thu, 03/17/2011 - 03:31 | 1065638 kita27
kita27's picture

"MELTDOWN is one of those fearful media terms, id like to call it an unrequested fission surplus"

Wed, 03/16/2011 - 17:37 | 1063382 djrichard
djrichard's picture

I think that's actually happening in Bahrain.

Wed, 03/16/2011 - 17:52 | 1063463 Confucious 222
Confucious 222's picture

Only if you came in to this debacle short the Yen.

If you came in short the yen against the dollar with both leverage and size, you have become goo already, yes indeedy.

Wed, 03/16/2011 - 18:20 | 1063657 Lets_Eat_Ben
Lets_Eat_Ben's picture

"Dig up stupid"

Wed, 03/16/2011 - 18:26 | 1063672 Lets_Eat_Ben
Lets_Eat_Ben's picture

Yes We Can

Wed, 03/16/2011 - 17:24 | 1063253 whatsinaname
whatsinaname's picture

I dont give a rats a... about what happens to the Japanese stock market, but a strong Yen ought to be in Japan's long term interest as it will minimize their re-construction costs and even if they see a reduction in export related jobs, they should hopefully see jobs in re-construction. Of course since when did CB's care about a country's LT interests ?

Of course, we continue to bear the brunt of meany beany's mild inflation babble in the US !!

Wed, 03/16/2011 - 17:58 | 1063496 machineh
machineh's picture

A strong yen will make energy and cement imports cheaper, but as a major manufacturing nation, Japan can source much of its rebuilding supplies domestically. But the strong yen is like a death ray to exporters. How can Japanese auto manufacturers compete, with the yen at 77 to the dollar? It's a horror show for them and many other exporters.

It seems perverse, that a country which was already deflationary is getting a further unwelcome deflationary jolt via out-of-control currency appreciation. This is the exact opposite of 'inflating your debts away.' Now the debt burden of the world's most indebted country is becoming heavier in real terms, just as it prepares to go on an epic deficit spending spree. No wonder default swaps on Japanese sovereign debt are reflecting higher risk.

The San Francisco earthquake in 1906 proved to be quite deflationary, leading to the Panic of 1907 (which in turn provided the impetus to create the Federal Reserve). One could imagine a similar deflationary impulse in Japan ... but followed by such reckless money printing and deficit spending that it pops interest rates and puts debt service on an exponential path to default, whether the Bank of Japan tries to inflate its way out or not.

It's horrible to contemplate that this natural disaster could be the tipping point which produces the first sovereign debt crisis in a major developed economy. 

 

Wed, 03/16/2011 - 18:13 | 1063616 Amish Hacker
Amish Hacker's picture

Well put. Imagine becoming the world's third largest economy, even though you had to import most of your energy and raw material inputs. Then an earthquake-tsunami-nuke disaster happens, and the only policy that will let you rebuild (strong yen) will destroy your exporters. This whole mess is starting to have the feel of an unstoppable force meeting an immoveable object.

Wed, 03/16/2011 - 19:41 | 1064013 zebra
zebra's picture

is it possible that Japan is at a survival mode that cannot think about exporting at all? all they have to think is to rebuild their infrastructure first. therefore, currency exchange rate will be in their favor if JPY is higher. and that will kill the Nikkie for sure.

Wed, 03/16/2011 - 17:29 | 1063331 camaro68ss
camaro68ss's picture

holy fuck man, is this it? Are we in the SHTF moad

Wed, 03/16/2011 - 17:40 | 1063402 dwdollar
dwdollar's picture

Not quite yet.  We need at least one more straw for SHTF territory.  Preferably a black swan event here in the US.

Wed, 03/16/2011 - 19:15 | 1063928 TemporalFlashback
TemporalFlashback's picture

Didn't mean to junk your comment. Apologies.

Wed, 03/16/2011 - 20:22 | 1064175 reading
reading's picture

Just an fyi, you can un-junk by clicking on it again...just in case you go on a junk rampage or your mouse goes wild.

Wed, 03/16/2011 - 17:41 | 1063405 malikai
malikai's picture

http://www.youtube.com/watch?v=SYxvVe9y5NQ

I'm afraid it may be here.

Wed, 03/16/2011 - 18:44 | 1063794 scratch_and_sniff
scratch_and_sniff's picture

YES MAN!!! QUICK, GET ALL YOUR GOLD AND HIDE UNDER THE STAIRS!

Wed, 03/16/2011 - 19:07 | 1063896 strannick
strannick's picture

you mean silver

Wed, 03/16/2011 - 18:47 | 1063798 scratch_and_sniff
scratch_and_sniff's picture

...dont forget your beans.

Wed, 03/16/2011 - 17:39 | 1063391 IQ 145
IQ 145's picture

Whoops.

Wed, 03/16/2011 - 17:17 | 1063202 papaswamp
papaswamp's picture

Someone just stepped in and is defending at the very least 78..maybe 78.20...and they are loosing.

Thu, 03/17/2011 - 07:27 | 1065828 Iam_Silverman
Iam_Silverman's picture

"defending at the very least 78"

BOJ?

Wed, 03/16/2011 - 17:16 | 1063203 Boilermaker
Boilermaker's picture

LOL...not unbelievable at all.

Wed, 03/16/2011 - 17:17 | 1063212 John McCloy
John McCloy's picture

Tell us again Tim that Japan will not sell their treasuries.

Wed, 03/16/2011 - 17:27 | 1063294 Dr. No
Dr. No's picture

edit; read the chart wrong.  huh?

Wed, 03/16/2011 - 17:30 | 1063338 Cleanclog
Cleanclog's picture

If BOJ buys JGBs (and sells USTs), where will we see our interest rates tomorrow?  Is FED complicit?

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