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Yen Surges: BOJ Intervention Watch At DefCon 1
Starting at 9pm Eastern, something lit up a fire under the Japanese Yen, sending all pairs, but specifically the USDJPY and EURJPY down sharply for no apparent reason. At last check the Dollar Yen was back under 79.85, the level at which the BOJ 3 months ago had to run like a petulant, crying child to its pedophile uncles from the G-7, begging for a rescue. The only mildly related news came out just prior when it was announced that China's net purchases of Japan debt hit a new record in April. From Bloomberg: "China’s net purchases of Japan’s long-term debt reached a record as the larger nation seeks to diversify the world’s biggest currency reserves. China bought a net 1.33 trillion yen ($16.6 billion) in Japanese long-term bonds in April, the biggest amount since records began in January 2005, according to data released today in Tokyo by Japan’s Ministry of Finance. The nation sold a net 1.47 trillion yen of short-term debt, the data shows. “As China tries to diversify its assets with its huge foreign-exchange reserves, it probably wants to have yen- denominated assets to some extent” in the longer term, said Tetsuya Inoue, chief researcher for financial markets for Tokyo- based Nomura Research Institute Ltd. “China has a strong trading relationship with Japan." If anything this would be dollar negative, not so much Yen positive... We will follow and update if anything is noted.
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A priest, a rabbi and three melted down nuclear reactors walk into a bar....
With or without all their fuel rods.
Hey.....it makes a difference.
Yep their rods were exposed
To underage girls?
Only on twitter.
"Ouch!", they exclaimed. Then they all had ice cream.
The end.
I want to hear the punchline...Anyone?
Priest orders some blood of Christ. Rabbi orders some Manichewitz.
The reactors say, "It's coming on three fucking months drinkin' with these two assholes, if I'm not quenched soon, no one gets out alive!"
Bravo!
Excellent job!
:D
So the bartender says..."I hopes all of you left your rods at the door".
...The bartender looks up and says "what is this, some kind of joke?'
The reactor says "Joke? That's on you, motherfucker." and promptly spews cesium on him.
LOW PROFILE = BAFFOON!!!
...walk into a bar...
The bartender asks the priest, "Well, what'll it be?"
Priest: "Gallon of Irish Whiskey and a glass."
Rabbi: "A whole keg of Manaschevitz red wine and a Kosher pickle."
Three Nuclear Reactors: "3 million gallons of your coldest water, 3 firehoses, and your utmost discretion."
Shouldn't that be an earthquake, a tsunami and three melted down nuclear reactors walk into a bar....
+1
I'm all over that one BOB!
Wow, I thought only PMs had charts that looked like that.
thought that was weiner's vid snapshot!
In a parabolic inverse curve?
I'm watching a parabolic h-1 SAR. Mixing it with the oversold moving average.
Wow, I thought only women with PMS had charts that looked like that.
Who the fuck junks you, Turd?
Must have some crybaby stalkers that got spanked on your blog.
New Survivalist = New Baffoon. Now have a nice week you idiot.
Since you KEEP using the word to insult people, I must point out that the word you're trying to use is "buffoon." As in "Roaming Uranus is a seemingly illiterate, pontificating buffoon." Is it easier to understand when I use it in a sentence?
Well played, sir!
DOW futures dropped too...
This isn't supposed to happen. Clearly, there's a serious glitch in the Matrix.
Algorithm was supposed to be USD lower = Equity indexes higher = American Living Standards into the sewer* ad infinitum.
Two out of the three is going to cause absolute chaos. All three need to click precisely, lest it all comes unwound at the seams. It's akin to a slightly 'off' centrifuge (loaded with highly enriched plutonium).
Kyle Bass is beaming confidently in speaking of the literal end of Japan as it's been known for at least 60 years, as in total economic implosion.
to, and cash forwards are flat!
Don't worry BOJ will flood with liquidity, free money bitchez!
Like da free munny!
Dow futures dropped too...
Intervention? Ohh an exporters nightmare! The option @ 79.4 needs to get touched! (FIRST)
worthless person that keeps junking me! Show your face. Loser!
Only pussies cry about being junked.
you don't know how right you are. Consider yourself junked as well.
So blunder, what is your trade? Ya gonna pump and dump the usd in Europe, or Asia?
I nibble at tiny bits, not enough working capital to play with 4x just yet. Tomorrow I'll probably buy some SDS and dump it at the end of the day.
I'm not much of a trader, so if you're trying to compare dick size, you've got the wrong guy. I actually have to work for a living. That doesn't change the fact that I think you're a clown, and a pussy for crying about being junked. It's 20 bullshit posts from you for each one that has anything to do with the topic or expresses a coherent thought.
Yen -- I told you to stop being a blowhard.
Every single time somebody slams your lil dick in the dirt, you start screaming about what is your trade, what is your trade.
How about you have no trades, because if you did you wouldnt be searching the advice of a bunch of baffoons. That is why i said that Yen Crosser = Bafoon. Stop pandering to fools, which makes you a fool.
A good lesson for you -- now sit down, zip it up, listen and learn, and you can give me thanks at your leisure.
Have a good week..........
Coming from a PUSSY?! You are pathetic. YEN CROSS.
I never Junked you!
Thank you so much for your thoughtful and considered response.
i junked you too. Rule #1) We do not talk about people touching our junk on here. ;)
SAY WHAT? The Bernank has been touching everyones junk for years. Oh, unless you mean junk in a Weiner-kind-of-way.
usd/jpy is compressing. look@ rsi and stochastics.
Option / long retail positions will need to be wiped before Yen will loose its strength and reverse. Cheers for the heads up on the option barrier.
the bernank is pleased.
tomorrow could be ugly ...
Something is going on with copper as well, maybe Blythe is switching to Dr.C to raid?
ISTANBUL—China is likely to pick up its copper purchases in the second quarter, at a time when global supplies of the metal are forecast to be in a deficit of 500,000-600,000 metric tons.
The combination is likely to result in even high copper prices, executives at an international metals conference said Thursday. Copper prices recently hit all-time highs, reaching above $10,000 a metric ton in London and topping $4.60 a pound in New York.
http://online.wsj.com/article/SB10001424052748704823004576192611371188594.html
Me thinks they are going to coin it, they purchased much more in 2009.
Must print more yen. Stop Godzilla
Just like the intervention in silver, where the only tool was margin hikes, the governments can only shift assets away from their actual value for a period of time and then they revert.
Looks like a flush to me. Yentervention in 3...2...1.....
Major shit about to hit the fan. Night night. Lights out.
Looks like The Bernank is being set up here by his masters as some sort of offering to Moloch. A sacrificial lamb of sorts.
Never gamble with the devil on his terms unless you enjoy white hot poker in the rear.
Thanks Truth for the link, Great quote from Koo,
"Essentially all that happened is that by buying up Treasuries, investors were forced to look for returns elsewhere, in places like stocks and commodities. The latter, the commodity gains, ended up slowing down the economy. What's more, QE2 has had no positive impact on bank lending whatsoever."
The question is when did the economy slow? Officially.
What are Koo's thoughts on QE3?
I am sure Krugman's bathroom is spotless, but Koo could put some Kung fu
on his Princeton ass.
Dimon directing questions to Bernanke today was almost surreal.
I kept wondering, what the fuck is he doing? And why?
This is cover for exactly what?
And BTW, Jamie Dimon is nothing but a lying sack of shit. His firm is more responsible for the tragedy unfolding in this country than any other bank, hands down.
It's the good old "good cop, bad cop" routine. The evil banksters are dyed-in-the-wool, straight-up evil sumbitches, don'tcha know? How dare Unca Ben impose regulations on bankers that they must to abide by!
Man, it's sure a good thing Unca Ben is there, protecting us little people, don'tcha know? He is only trying to protect us. So, I don't really understand this whole "QE III" thing. Unca Ben won't let those evil banksters harm us ever again!
Theatre. Simple theatre.
Exactly.
I could say that this is what I meant, but given how poorly I tried to communicate my still budding thoughts, I won't.
+1
Excellent analysis.
Thanks. :D
Notice I did it in my best Sarah Palin, so that I could show everyone how really dumb we are.
Palingensia, bitches!
http://en.wikipedia.org/wiki/Palingenesis
And the game goes on and on and on.
To all the smart respectful traders . Thank you for your thoughts! You wanna be punks are toast! YEN
Fukushima Daini (not Daiichi) leaking 3,000 tons of radioactive water
http://enenews.com/another-nuke-plant-fukushima-daini-has-3000-tons-of-radioactive-water-in-reactor-buildings
Three reactors at Daiichi melted THROUGH containment
http://enenews.com/breaking-more-serious-than-a-meltdown-japan-govt-now-raising-possibility-that-fuel-had-a-melt-through-at-all-3-reactors
Good 2 minute VID of radiation (ground level) in Tokyo (5.77 microsieverts)
http://www.youtube.com/watch?v=i9a0Q1v93SA&feature=player_embedded
Whoah...I looked at chart sideways...looks like the Man in the Mountain...
New Hampshire...near????
Two points for you if you guessed Bretton Woods.
Whoah....pfffttttt
I wonder when Japan will institute a negative borrowing policy.
Remember also that in the last 6 years Japan has had 4 Prime Ministers and that the current PM was the finance minister before getting his promotion.
The blackswan in the deck was the earthquake tsunami that seems to have taken a back seat to Fukushima. The entire Tohoku region needs major infrastructure investment.
whatever they decide to do, count on it taking a long time because the LDP is blocking most legislation
crosses are being slaughtered...nice, I see Japan fiscal collapse finally taking out China's property market.
Cause the Chinese are the worst investors in history, the USD will be super bid in the next three mths.
This is all in the plan, and was coordinated with the BOJ. The USD is rising, and the stock futures are falling. Exactally what needs to continue to convince the lemmings that QE3 is needed!
"This is all in the plan, and was coordinated with the BOJ. The USD is rising, and the stock futures are falling. Exactally what needs to continue to convince the lemmings that QE3 is needed!"
Not sure a plan is needed. What you just described is the direction things would go sans gigantic levels of government interference, money printing, deficits etc. If the feds stop blowing the bubble, it will collapse. Maybe that brings about QE3, I don't know. At some point, the folks in charge of things have to figure out that it hasn't worked and another one won't work any better. I think the only goal of the government class right now is to keep things afloat thru the 2012 elections.
Mildly related? Come on ZH, you're smarter than that. There is a strong bid under Japanese bonds, thus the Yen is appreciating.
Thanks for the reminder AUD. I priced in the RBA news already. That could be a sell the fact, down the road. Yen
its china rumors, re: liquidity/bailouts freaking markets thus the aud and others.
don't forget reserve requirement changes.
I do not understand. i am drunk and it is hard for me to ypte.
please, someone expaine.
No, there is too much. Let me sum up. Buttercup is marrying Humperdinck in a little less than half an hour. So all we have to do is get in, break up the wedding, steal the princess, make our escape... after I kill Count Rugen.
My name is Iniego Montoya...
Humperdinck! Humperdinck! Humperdinck!
Looks more like humpachink right now tho.
The visual's coming in now, Captain...
I'm giving her all she's got ORLY! The warp coil is off line!
DefCon 1. I know it well. Tyler you are beyond amazing.
Well done Sir.
As usual....
First sign of chaos in the currency markets, the Algos are trained to:
- Sell gold
- Sell silver
- Sell crude oil
- Buy U.S. Treasuries
- Clamor for U.S. Dollars
Frankly, I don't see what everyone's on about. The 4X market in my neck of the woods hasn't moved in 28 hours.
Jus' sayin'.
Gold hit an all time high today (London AM fix).
Smart money will buy on weakness.
As usual you have it backwards.
They are trying to paint a double top in gold. High degree of caution warranted in the short term
it was all china news, some OPEC oil output increases (China again), some world bank dude saying China won't slow down that 'hard'. kinda stabilized eveything. if commods are weak in to UK/EZ open. should see some juicy sells. bernanke allowing the market to correct now and USD bid. thats pretty much it...till something bad happens.
Chinese monetary decision makers are increasingly crafty, and this trend will continue.
It's mid and long term implications on the dollar are significant.
The good ole' days are indeed over.
cant remeber when the HFt's wakeup, i think now GMT? I dunno, anyway...watch the next 2hrs if you are alive
Dlr hits one-month low of Y79.75 as Asia stocks fall
http://www.reuters.com/article/2011/06/08/markets-forex-idUSL3E7H80ES201...
and we got CDS (EZ) starting to widening on morning open. All Greece.
*German trade data poor. Trade Bal
You might as well write off the Greece bailout now...it's toast IMO
Well, if the Yen is uberstrong and "the great K[h]an" needs to shell out some dosh for rebuilding then this sounds good for Japan...
They should game it.
Initiate a massive "risk-off" event, by telling the world they are going to institute total market protectionism and Yen reclamation in the way of Treasury selloff to buy Yen for rebuilding funding (unwind all Yen-funded carry trades from borrowed money) and while the Yen-strengthening repatriation spikes and people unwind all their Commodities pump (risk-off), settle a BaJillion in immediate and future deliveries of Copper/Iron, Oil/Gas, and Cement. Declare to he world that you "spent your load" and that you'll fail to meet JGB obligations (don't worry, it's mostly Japanese that hold JGBs and just tell them in Japanese that: "Shoganai" = nothing we could do...).
Keep rebuilding for 5 years while you foster universities to switch to bio-sciences (does not require raw resources and cheap labour like manufacturing did, but rather no resources and high-skilled labour in high-security, local facilities).
Problem solved?
dollar negative...
ya think..
There's a liquidity crisis developing folks....watch our small regional banks and some of the banksters in Europe. I'm just sayin'.....
Nailed it.