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Yen Now Back To Pre-Intervention Levels

Tyler Durden's picture




 

The BOJ has now learned the hard way that these days $20 billion doesn't buy you much: specifically - about 20 days, and a Geoffrey Raymond painting of Ben Bernanke running naked behind the US dollar with a chainsaw and a homicidal grin. The USDJPY is now back to where it was when Shirakawa injected Y2.125 trillion, only to see the impact trickle down to nothing. Considering Monday's BOJ action did nothing to weaken the yen, it is almost certain Shirakawa will pull another $20 billion rabbit out of his hat: this time we expect the impact to last at most half as long as the last time.

As for what completely irrelevant and totally bubble stocks will do today, here is your answer:

 

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Wed, 10/06/2010 - 08:14 | 628669 cnbcsucks
cnbcsucks's picture

Clearly, Japan doesn't possess the blatant, in your face market manipulation skills of the US.  Perhaps gentle Ben should take a trip to Tokyo and show them how it's done.

 

Wed, 10/06/2010 - 08:17 | 628671 Commander Cody
Commander Cody's picture

The race to zero continues unabated.

Wed, 10/06/2010 - 08:46 | 628750 Sudden Debt
Sudden Debt's picture

at least zero is still a number :)

 

Wed, 10/06/2010 - 08:20 | 628673 frankTHE COIN
frankTHE COIN's picture

                                 ZERO HEDGE TRADING FLOOR

 

                                      ask   @   get rich

                                      bid    @   die trying

 

This chart looks like the mkt wants to roll over and fall out of the sky.

Wed, 10/06/2010 - 08:27 | 628703 primefool
primefool's picture

The Central Bankers are just 3 fat guys in a hot tub - daring each other as to who can let off the stinkiest one. And having a heluva time yukking it up. They even have theories of how their farting around affects the universe - honest - they teach it in all the .. umm.. temples of learning.

Wed, 10/06/2010 - 08:45 | 628745 Sudden Debt
Sudden Debt's picture

KAMIKAZE DIVE!! AAAAAARRRHHHHH!!!

Wed, 10/06/2010 - 08:48 | 628747 bada boom
bada boom's picture

<redundant>

Wed, 10/06/2010 - 08:50 | 628754 Turd Ferguson
Turd Ferguson's picture

That's one of the funniest charts of all time. I particularly like the little peaks of the 23rd, the 2nd and the 4th. HAHAHAHAHA you little, yellow bastards! You are powerless against our magical printing presses! First, we annihilate you with nuclear bombs. You had the audacity to recover. Now, 65 years on, we finish you off with nuclear dollars. HAHAHAHAHA

Wed, 10/06/2010 - 08:59 | 628784 jm
jm's picture

kimi wa baka da yo.

Wed, 10/06/2010 - 10:03 | 628941 suteibu
suteibu's picture

so desu yo!

Wed, 10/06/2010 - 10:59 | 629130 Mxriderbp
Mxriderbp's picture

That chart looks like a fishing pole cast off a dock. What is there to catch...bucket of worthless currency? :)

Wed, 10/06/2010 - 11:28 | 629242 Goldenballs
Goldenballs's picture

Land of the Setting Sun ........................

Wed, 10/06/2010 - 14:20 | 629881 Azannoth
Azannoth's picture

Will they ever get it, currency interventions DONT WORK !

Fri, 10/15/2010 - 02:59 | 652024 nikejordan
nikejordan's picture

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