Who appointed this guy Chief A$$HoLe?
But be careful what you wish for: what we may get could be worse than what we have.
Gold futures saw a massive $1.5 billion liquidation in one minute yesterday which had all the hallmarks of a "non profit" liquidation - a large seller trying to manipulate gold futures lower rather than maximise profits.
One can only watch this devastation with horror. USDJPY drops to 76. Unbelievable. Many Wall Street FX desks are blowing up right at this moment.
so it's yen to infinity and the dollar gets the big blue swirly. Does that mean gold catches a better bid?
yes as in YES!!!
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.
I don't get pissy about anything from yahoo finance.
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/...
Come on, it WAS funny.
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.
Now that's really funny.
alright you all. Group hug.
78.14 right now
I am Chumbawamba.
Oh shit, I didn't realize how punny this is until after I posted it.
I amuse myself.
Laugh it up.
Hope you planned ahead.
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.
The junks you got will be out of pocket right about now and for the next week or so.
"Would you say it's time for our viewers to crack each other's heads open and feast on the goo inside?"
Yes I would kent.
The Simpsons comfort me in times of zombie apocalypse.
Controlled Nuclear fission is a demanding mistress.
Mistresses by nature are out of control...
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.
no disrespect homer, but i'm a southpark guy
That wasn't Duff beer I just saw you drink..
Stoopid drinking bird!!!
Stoopid drinking bird!!!
"MELTDOWN is one of those fearful media terms, id like to call it an unrequested fission surplus"
I think that's actually happening in Bahrain.
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.
"Dig up stupid"
Yes We Can
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 !!
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.
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.
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.
holy fuck man, is this it? Are we in the SHTF moad
Not quite yet. We need at least one more straw for SHTF territory. Preferably a black swan event here in the US.
Didn't mean to junk your comment. Apologies.
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.
I'm afraid it may be here.
YES MAN!!! QUICK, GET ALL YOUR GOLD AND HIDE UNDER THE STAIRS!
you mean silver
...dont forget your beans.
Someone just stepped in and is defending at the very least 78..maybe 78.20...and they are loosing.
"defending at the very least 78"
LOL...not unbelievable at all.
Tell us again Tim that Japan will not sell their treasuries.
edit; read the chart wrong. huh?
If BOJ buys JGBs (and sells USTs), where will we see our interest rates tomorrow? Is FED complicit?
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