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We Are Off To The Races: BOJ Intervenes In FX Market, Sends Nikkei Surging As G7 Agree On Plaza Accord V2
And we are off. The JPYUSD is up nearly 200 pips as the Bank of Japan buys billions in dollars, using freshly printed Yen, following an agreement with the G7 which will likely see a new plaza accord to keep the Yen low despite ongoing repatriation. This follows earlier news that the BOJ will underwrite a ¥10 trillion in earthquake recovery bonds as Japan is now lurching from one monetization step to another. Keep an eye out for intervention aftershocks as the BOJ now can not allow the USDJPY to drop below 80 or it will be all over. This is what global reflation gone nuts looks like. On the other hand, if the BOJ fails to keep the USDJPY above 80 following this action, and the inflows of yen are far greater than anyone expected, most certainly the G7, then we have big problems.
And from Reuters:
The Group of Seven finance chiefs said authorities from the United States, Britain, Canada and the European Central Bank will join with Japan in joint foreign exchange intervention from Friday, at the request of the Japanese authorities.
The G7 finance leaders expressed their "readiness to provide any needed cooperation and our confidence in the resilience of the Japanese economy and financial sector", they said in a statement issued after a conference call.
The G7 finance chiefs held a teleconference around 7 a.m. Japan time on Friday (10:00 p.m. GMT on Thursday) to discuss the financial and economic impact of last week's massive earthquake and unfolding nuclear crisis.
Next up: Armageddon 2: the Sequel, in which the Chairsatan, Trichet, Shirikawa, King, and Hildebrand dig a deep hole in Haley's commet, in order to save the earth, only something goes horribly wrong and everyone blows up in a nuclear fireball. The end.
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I have a friend in the military who just tweeted:
"Captain of the USS Reagan told the crew to make video conferences home cause they dont know how sick they might get."
Have not confirmed yet but he's an honest guy so take it for what it is...
A fact they are now evacuating the families of those based in Japan. Unprecedented moves.
Buy hey, we don't want anyone to panic.
"Buy hey, we don't want anyone to panic.
Im not. I'm waterskiing right now.
http://www.youtube.com/watch?v=6A-hADCTHqM&feature=relmfu
0:23 - 0:25...comedy Au. I'd love to see the insurance policy on the ski boat too.
I wish I had enough cajones to fully capitalize on this. It is a beautiful intervention... First buy the yen, and now, time to monetize it. Probably Goldman FX traders who showed them how this is done. Very impressive, along with the general preparation.
I am serious, no other nation could have handled this better! M9.0 is 34 times bigger thatn M7.5 for most US nuclear plants... it is the aftershocks and tsunami that destroyed Fukushima... If the same thing happened in West Coast, watch out for the looting and how prepared OC crowd really are.
With everything going on this week, I'm pouring a glass of Jack Daniels and a splash of Coke and I'm calling out hung-over tomorrow.
I'm having Spumante over ice with a shot of Sambuca in a 16 ounce plastic cup.
tullamore dew straight no chaser for me after all it is saint patrick's day!!
+1
Following your lead...and let's check the brackets while we're at it.
With all the shit going on in Japan, I went out and bought 10 gallons of bottled drinking water, and filled up my gas tanks.
Now that all the un-fun stuff is done, it is time to get down to some more serious business.
I bought half an ounce of good weed.
I am Chumbawamba.
that's exactly what I need as well...too much shit going on in the world...maybe will be one the last ones to relax a little
http://www.blackmarketdata.com/potsurvey.php
Weed <3.
too all the single guys in the house... girls love weed!
I have been tracking how much a gram has incrased in my area over the last decade or so (Started around 11- yet a straight A student every year!).
In addition to Gold+Silver+Lead Bullets+Seeds and Clean water.
Go long cannabis. ;)
Hot Tamales (the candy). It's an addiction.
Jelly Belly brand jelly beans, love the javas, and whiskey lots of whiskey..
Macallan 18.
+ 1
I like my scotch like I like my women - at least 18 years old.
Woodford Reserve....over ice.
hmm...lets see...im gonna go with a couple of glasses of red wine and hopefully a bj
It's the little things in life...am i right?
I'm on my 6th Guinness and feel like a fucking hero...or is it fuck a hero?...no, no..wait, it's eat a fucking hero with extra thin sliced rare roast beef...yeah, that's it!
...time for another Guinness
I mainline pure grain alcohol with my mom's IV kit.
Tuaca brandy, no ice, chilled glass. I think there's some green somewhere on the label....
wheatgrass, vermouth, uh, in a blender...
with rocks and a shot of vicks vapo-rub....
oh YEAH Baby!!
i just got some whiskey rocks that you keep in the freezer so you dont water down the good stuff... pretty nice but I could of just grabbed some rocks outside and did the same thing...
I have a Japanese spherical ice mold. Supposedly, the sphere cools the whisky the most without diluting it, so it's the thing to do at the whisky bars in Japan were a shot of Nikka 17yr is about $12.
Sad to say, but that was what I was doing in Tokyo the last Friday night of the old Japan (March 4th).
many were doing a lot less memorable
Blasphemy!
Diluting Old No. 7 with anything other than ice made from pure rain water is a crime against nature.
That rain water may be radioactive. I would stick to just drinking it straight from the bottle...
Oxi, with a marijuanna back.
Give me what ever Bernanke's on & make it a double dose
up on amnesia. All is forgotten , new horizons glowing in the dark
on Thu, 03/17/2011 - 20:56
#1069380
"Oxi, with a marijuanna back."
dogg, how good is that,....the lush faux pas prime time remix.....some sister ray with high tides and green grass.....
green grass and high tides forever, my brother. here comes the riff.
http://www.youtube.com/watch?v=R82OM5tzcrk
If you are out of sick days call in dead
Being St. Patrick's Day, I don't think I'm fooling anyone.
+funny! Did it once or twice myself
on Thu, 03/17/2011 - 21:00
#1069392
"If you are out of sick days call in dead"
if that doesn't work tell them it's an alien abduction and you're partying on the mother ship.........
There you go. Me 2...
+1000
Fat Tire Amber Ale here.
Was he referring to the people back home or the people on board?
USDJPY
Target of 83.696.
http://www.zerohedge.com/forum/99er-charts-0
Risk on -- booyah.
Risk on is so 2010
Just like green shoots was 2009.
Holy shit have I been reading zero hedge that long? I feel like I'm in a fucking time warp. The next thing I know I'm gonna wake up and my life's gonna be over
No risk on.
Break bitch. Taurus says so. This is done or another massive rock and roll to finish it. Fuck it.
Take it. All eight inches bitches. Fucking turds. Kiss kiss bang bang California. just for fun and a bit of Mexico...well lots of Mexico.
Cancer for everybody. DOn't fight for yourself, here's a dose. Massive dose.
c...h...i...L...L... iz all OK. Rully.
USD back to pre-intervention levels...futures still stratospheric....I am Jacks total lack of surprise.
looks exactly like the /ES chart. Everything going full retard...because lets face it...War (another one) Nuclear Meltdown...Tsunami...Earthquake...NO PROBLEM!!! We'll just print more money and PRESTO!...All is well.
Everybody go long everything now.
Weird World. Getting weirder by the minute.
Full court press, when will these guys give up?
In fact, the bigger question seems to be, why can't these guys give up? What is driving the market madness? Do they have reptilians at their throats? Who spawned this bankster/political lot? Are they really lobotomized abductees following some crazed alien overlord's orders?
Tell us Alien IQ?
Because their actions sure do nto make them look/feel human. At all.
Cue Henry "Detente", Mr Playgirl (ughhhhh) Kissmyassinger.
ORI
http://aadivaahan.wordpress.com/2011/03/17/archetypal-astrology-from-cathartes-aura/
any atheists here, ya know..."thinking' about it"?
alien where have u been?? wall_rus banned me from your board. can you unban me.
WHHHEEEEEEEEEEEE
100 point insta-swing in futures! I LOVE THIS SHIT!
Just more fake paper.
At least gold is back over $1400.
Just more fake fake shit.
In other words, currencies, equities, and bonds are whatever the fucking wizards say they are.
It's all an ENORMOUS fucking joke.
wow. just wow.
yen straddles are throwing off GAMMA gold, we are talking retirement events this week.
Castles in prague and euroslut sheening all day everyday!
Fucking A
4 points down and then 6 points up, over 2 days. Definitely retirement worthy week.
+1
[In other words, currencies, equities, and bonds are whatever the fucking wizards say they are.]---Boilermaker
+1
Reads like poetry.
Point.
+1
Yeah, wow, it is amateur night!
It works until it doesnt. The derivatives monster gets bigger, the bankstas get richer, the people get poorer, and there is more and more people and waste, while resources get scarcer. Long real short fake.
if they can print money, why donate?
No shit.
Donate only if ordinary people will receive the funds, cause they sure as hell ain't getting any of this new print run.
Ordinary Japanese might have liked a yen at 60 so they could buy some cheap imports, like blankets and food and gloves and thyroid tablets and airline tickets.
Oh well, I guess the banksters know what's best for everyone. The little people will gladly sacrifice to save the collective.
It has always seemed strange to me... the things we admire in men, kindness and generosity, openness, honesty, understanding and feeling, are the concomitants of failure in our system. And those traits we detest, sharpness, greed, acquisitiveness, meanness, egotism and self-interest, are the traits of success. And while men admire the quality of the first they love the produce of the second.
John Steinbeck
John Steinbeck reference = +1
+2 nicely done, have not read that one.. I recently read Grapes of Wrath again. We are all okies now, or will shortly become..
+3 and fuck your junker
If they can print money, why pay taxes?
+1
I said: "You must pay a lot of taxes". She said: "We don't pay taxes. Only the little people pay taxes."
–Elizabeth Baum, former housekeeper to Leona Mindy Helmsley (October 1983)
No shit.
they print.. you pay.. shackles on.. get back to serfing
...uh, to keep the IRS hooligans off the streets????
Taxes are a curb on future price inflation.
- Palyi
Nice point Freewheelin, I never thought about it like that before.
Of course, that is only true in a fiat monetary regime, but I'm sure you assumed that.
"Should government refrain from regulation and taxation, the worthlessness of the money becomes apparent and the fraud can no longer be concealed."
John Maynard Keynes "The Economic Consequences of Peace"
Nice.
It's about power and keeping you shitbags in line. If it was about revenue, they wouldn't
go after a person that owes $00.04
http://www.msnbc.msn.com/id/21134540/vp/35972256#35972256
And this was all over the media to remind you too keep you in line. That the government is that fucking stupid to spend thousands to get pennies, or you'll go to prison.
Nevermind it should be criminal to be that fucking stupid. Just remember the FEAR of a cockmeat sandwich in federal penn for not paying the four fucking pennies!
That was exactly what I said to the wife tonight when she asked if we should give $20.00 to the relief effort...I said "shit...they can just print as much Yen as they want - and will make a damn good attempt at printing plenty too"
In all seriousness though, I am not a completely callous bastard so I did capitulate and we donated $20.00 to the Red Cross. I guess that is o.k. since last I checked, the Red Cross does NOT have a printing press of their own
For the next time:
http://www.worldvision.org
Sure they do...they just "printed" $12 with it.
Bingo.
This is just unreal. Everything is propped up. A free market is forever gone. I've increased my purchases of gold & silver to a portion of every paycheck. I'll continue to do so. I don't know what else to do to counter this...
Why are us market futures up? Dollar is up, oil is up.
Nothing changed other than waiting for power to arrive in Japan. And it's a big IF the pumps will turn on.
Why not? What the fuck difference does it make now?
If the extension cord works, stocks will rally. Morons on wall St are trying to trade useless headlines and they run scared their easy money scam melt up isn't working anymore.
The Black Swan. Who could have known...??
I spent all week trying to explain the induction problem... Turkey problem and some of the other finer points of Taleb's book... and I get this blank stare back.
I give up.
I'm just waiting for that asteroid to land on our ass.
I don't like to repeat myself but.........
http://www.youtube.com/watch?v=ig64I7ZC3Ro
Asteroids contain gold which would make gold tank and make equities soar.
Yes, we have you hedged for downside risk. It was a 1% event...who could have known?" Yes, we have you hedged for downside risk.
these days they come in pairs...
http://chinapositive.blogspot.com/2011/03/nanning-zoo-more.html
That's just fantastic!
This all is going to end very well, it simply has to.
Hail to our leaders.
LMAO
Why do I get the feeling the entire financial system is hanging by a thread...again...
Wrong, it's just finally exposed for what it is and has been for a long time. A fucking facade.
That's not the case. The thread that already existed just got thinner.
nice!
I feel like I'm in the Twilight Zone.
Rod Serling never left the building.
He never left the operating room table either.
the price of necessities will not respond well to monitization.
Fucking awesome... call me when it's time to resume shorting.
Who's that masked man ...... is it ....... is it --- Max Keiser?
http://www.youtube.com/watch?v=NEqpvQqvcSo
Fuck this noise. I am going to go buy a new truck, or maybe trade the boat in for something BIGGER that consumes even more GAS. This game is so flipping rigged, I am now a member of the club. Who gives a shit anymore.
Edit-then I wonder why I can't get my wife on board when I tell her what is going on, this is all she sees. The good shit.
Reality is not good for your sanity or happiness.
"Reality is not good for your sanity or happiness."
Is like asking? Do you like fake boobs or real ones.
http://www.grouchyoldcripple.com/archives/008448.html
a wise friend of mine once said...
"if i can touch them, then they are real."
my mind was blown...
Just play their fucking game and buy a GM 4500 HD...No money down, 0% for 72 months and no payment till July. When July rolls around get a BOA Credit card and take enough cash to make the first 12 payments up front. Then get a Chase credit card and make the BOA payments with that.Also take out a BP gas card and buy all your fuel on it and pay that bill with the other cards as well..wash,repeat,rinse until you have hit the limits on both. Then squat in your truck another 20 months before they get around to hooking it, meanwhile telling BOA and Chase to fuck off everytime they call. Once you have filed chapter 7 in four years go get another 4500 HD on the new GM Subprime lease plan and start all over. You want to join the club? Here is my advice if you want to become a valued member! Sad scenario but this is the animal they are creating.
I love it! Beat the fuckers at their own game. I'm in!
It's funny because it's true.
[Just play their fucking game and buy a GM 4500 HD...No money down, 0% for 72 months and no payment till July. When July rolls around...]---tahoebumsmith
Trickle down corruption.
Good post, tahoe.
Fuck your wife if she's an idiot. Time to cut the fat.
How noble--robbing the rich Japanese taxpayers to give to the poor Japanese exporters...
go go japan!!! whooo hooo, keep her bid!
looks like coordinated intervention and no turning back........all hands on deck. battle stations.
Toal twlight zone. I want some Bama Bucks to get myself some golf lessons and tickts to the final four!
All I want is clarity and reality. (my bad: deceit, cover-up, manipulation and lies is the clear reality)
Be prepared for a huge several hundred point fuck-you-in-the-ass...-again open.
Japan has almost a trillion USD in US Treasuries. But, this is fucking necessary? Just to jack the fuck out of the equities market?
The entire first world financial system is geared to equity prices - those go down, and we are talking serious unrest. Regime change in the USA, Japan, etc.
But sooner or later it ain't gonna work, then look out below.
The shorts will be punished.
Going short is akin to being a terrorist, you know.
So then what is buying gold and silver with your Benny bucks?
That would make you Abu Nadal.
ORI
no doubt. did you notice the timing of that news? precisely as the AH market closed so you could not cover a short position or open a long...at 8:01 PM the market went full fuckin retard. The odds of this timing being a coincidence are several thousand miles south of zero.
this market is fucked up beyond description.
and to add insult to injury...the USD is now at pre-intervention levels (and falling) and the futures keep ticking off new highs every motherfucking minute.
this is beyond disgusting.
It's just a coincidence, relax.
No shit. Lots of people holding "worthless" index options are going to be in for a surprise.
They can't sell treasuries or that would jack up the yen. They're trying to take the ass out of the yen.
What's the bigger thought here, or do they all really like the Japanese?
Central banks are desperately trying to keep the global Ponzi scheme afloat.
We're all truly fukked aren't we?
Not unless you BTFD.
Nah, it's not that they like the Japanese. They have to keep the yen carry trade intact. Otherwise risk assets deflate. Can't let the yen appreciate or shadow banking liquidity will dry up again. The yen is the pre-eminent risk funding currency around the globe, and a reserve currency to boot. Must...not...let...yen...rise...
BOJ Statement.
http://www.boj.or.jp/en/announcements/press/danwa/dan1103a.htm/
At least, they're not mincing words, 2 lines, that's it.
TWO SENTENCES! The BOJ statement is short and to the point. In contrast to the muffled, garbled paragraphs of condition-laden, CYA obfuscating USDA prime bullshite put out by Bernanke, Dudley-Do-Right-By-Goldman-Sachs, and Timmy-the Wall-Street-go-fer.
Thanks, iota, for the link to original source material.
http://www.youtube.com/watch?v=JcJkhSUSnek&feature=related
We have lost our little perverted minds.
Bukkake eiei.
I think I'm on the wrong side of the Twilight Zone screen and the kid is wishing me to the corn field.....
Everbody in the pool....
Think again, the pools are boiled dry.
Didn't you hear? It's empty. No water, just spent fuel rods.
Visible from space...
(nice and warm..)
/ES
http://www.zerohedge.com/forum/99er-charts-0
I think the bond speculators might be getting burnt right up to their armpits.
And as for the suckers who sold their gold into weakness....well I have no sympathy for them.
Canute
Marie Antoinette
Global morons never realise their heads are going to roll until it hits the basket
And only 6 seconds for the full realization to last.