Non-News That Japan Will Ease "Boldly" Has Bigger Impact Than Bernanke

Tyler Durden's picture


But wait - some regurgitated news from Japan of 'moar easing' and EURJPY ramps to pull S&P futures up to pre-Cyprus levels...


You have to wonder when no-news from the BoJ trumps no-news from the Fed in stirring S&P to move (but success as the S&P maaged to finally close the Cyprus gap). We can't help but wonder who decided that at 2:05am Japan time this non-news algo-pumping headline should be released?




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Wed, 03/20/2013 - 14:40 | 3353291 Alpo for Granny
Alpo for Granny's picture

What was it that Bass guy said...

Sell the Yen and buy gold?

Wed, 03/20/2013 - 14:43 | 3353311 dudebum
dudebum's picture

Broken record that Kyle Bass...

Of course, when a stopped clock is right, it's _really_ right.

Wed, 03/20/2013 - 15:21 | 3353545 LawsofPhysics
LawsofPhysics's picture

Japan now the whipping boy for many.

Wed, 03/20/2013 - 15:26 | 3353570 Manthong
Manthong's picture

Boldly ease where no man has eased before..

Not that there’s anything wrong with it.

Wed, 03/20/2013 - 16:08 | 3353775 NoDebt
NoDebt's picture

So the topic of the US "exporting it's inflation to other countries" comes up quite often around here.  Now I ask, who is Japan going to export their inflation to?

Jeez, I hope it's not us!

Wed, 03/20/2013 - 17:09 | 3354034 ATM
ATM's picture

They're aren't a reserve currency. They are desperately trying to create inflation in their own country. There is exactly a 100% chance they will succeed and then the whole place will burn down.

Wed, 03/20/2013 - 22:21 | 3355297 hooligan2009
hooligan2009's picture

japan is attempting to import deflation from the west 

straight deflation from the west to inflaiton in japan via yen dollar to 125 and yen euro to 150

straight out of ripleys believe it or not

Thu, 03/21/2013 - 03:50 | 3356005 Capitalist Exploits
Capitalist Exploits's picture

"Not that there's anything wrong with it"


No no on the contrary it is good. Just ask Krugman. Now if only we could get aliens to invade...

Wed, 03/20/2013 - 15:22 | 3353549 knukles
knukles's picture

Gotta nip that deflation in the bud....


(I'm going to hell for that one...)

Wed, 03/20/2013 - 15:27 | 3353568 akak
akak's picture

Yep, they do keep scaring us about that mythical bud of "deflation", don't they?

Funny how that bud never seems to actually sprout.

Meanwhile, the Little Shop of Inflation Horrors monster is devouring all of us alive, if relatively slowly (for now).

Wed, 03/20/2013 - 15:05 | 3353455 madbraz
madbraz's picture

Not to mention that it was a holiday yesterday in Japan, so this is more BS than ever.

Wed, 03/20/2013 - 15:42 | 3353644 Dr Benway
Dr Benway's picture

They lie baldly and ease boldly. It will end badly.

Wed, 03/20/2013 - 15:44 | 3353653 Golden_Rule
Golden_Rule's picture

I think it was something like "easing will be the death of Japan".  At least they're doing it boldly, though.

Wed, 03/20/2013 - 14:41 | 3353303 kliguy38
kliguy38's picture

Looks like the whole enchilada is sliding into the abyss

Wed, 03/20/2013 - 15:14 | 3353503 Pure Evil
Pure Evil's picture

More like,.........being extruded into the procelain bowl.

Wed, 03/20/2013 - 15:17 | 3353523 max2205
max2205's picture

They will have to come up with another bs line to do the overnight ramp tonight

Wed, 03/20/2013 - 14:42 | 3353307 Jason T
Jason T's picture

them GDP growth targets from the Fed are ridiculous.  

Wed, 03/20/2013 - 14:43 | 3353315 ptoemmes
ptoemmes's picture

If I were Japan, I'd be pissed.  CNBS website still giving The Bernank all the credit for the ramp.

Wed, 03/20/2013 - 14:44 | 3353321 DavidC
DavidC's picture

One word.



Wed, 03/20/2013 - 14:45 | 3353333 ivars
ivars's picture

You will find this interesting:

Here I have overlaid global public debt from 1999-Q3 2012 from this site (it was at about 50 trillion USD in Q3 2012) :

Global public debt World Bank database

Over the price of gold for the same period.

But global public debt= net world wide savings in fiat currencies ( all). One can see from the chart that initially, the raise in Japanese public debt did not cause movement in the gold prices, but when the USA debt started to grow due to Iraq war in the end of 2003 and decisively exceeded that of Japan by Q3 2005, gold price started to catch up. 

Also, its possible to see that gold price reaction to QE2 was fictitious, as QE2 did not increase global public debt, and gold prices returned to debt line, and now they probably have undershot below ( there are no data yet available for global public debt for Q4 2012 and Q1 2013). Gold prices can over and undershoot pretty much (+30%/-22%) , as I have explained before, and as visible from 

There is also no reaction to QE3, as QE3 does not increase USG debt relative to what it would have been without QE3; QE3 only suppresses interest rates.

Question remains is USG debt=net savings in USD driving the gold prices in USD, or is it the global debt=net savings in all fiat that impacts price of gold in USD. Correlation in 2001-2007 is better with USG debt, while after 2007 total fiat savings=global public debt - fits very well and explains the pullback after QE2. 

Wed, 03/20/2013 - 14:46 | 3353337 Archetype
Archetype's picture

Fuck you Haruhiko Kuroda!!

Wed, 03/20/2013 - 14:52 | 3353374 thismarketisrigged
thismarketisrigged's picture

fuck u japan, u fucking piece of shits. i hope u all die

Wed, 03/20/2013 - 14:55 | 3353394 Gypsyducks
Gypsyducks's picture


Wed, 03/20/2013 - 14:52 | 3353379 Nothing To See Here
Nothing To See Here's picture

Why dont they print bills of 1 gogol yens and get over with it? Imagine all the prosperity that could be printed this way...

Wed, 03/20/2013 - 15:08 | 3353467 angel_of_joy
angel_of_joy's picture

And, if that's not working, there is also the GOGOLPLEX...

Wed, 03/20/2013 - 15:16 | 3353518 Pure Evil
Pure Evil's picture

There's no way you can have more money than god.

Wed, 03/20/2013 - 15:19 | 3353534 akak
akak's picture

If God is omnipotent, can God make a rock that even God cannot move?

Wed, 03/20/2013 - 15:42 | 3353643 akak
akak's picture

How many Bible-thumping junkers can dance on the end of their pinheads?

Wed, 03/20/2013 - 16:28 | 3353872 Element
Element's picture

you too? I caught the phantom red-arrower virus yesterday.

Wed, 03/20/2013 - 16:35 | 3353899 enloe creek
enloe creek's picture

he cannot be less than omnipotent so he can move any rock he could create however, since there is no end to time he would spend eternity in the attempt to create such a rock and would never reach the time when such a rock would exist. 

Wed, 03/20/2013 - 15:17 | 3353521 Pure Evil
Pure Evil's picture

Fucking double posts!

Wed, 03/20/2013 - 14:56 | 3353396 SheepDog-One
SheepDog-One's picture

OH ok...Japan now gettin SERIOUS about easing...they won't be so timid with easing like the last 20 years.

Wed, 03/20/2013 - 16:30 | 3353882 earleflorida
earleflorida's picture

europe`ia... and the new lost [perhaps forever?] decade vis-a-vis japan's [ lost decade that's quickly approaching twenty years?] TM

Wed, 03/20/2013 - 14:59 | 3353410 walküre
walküre's picture


Going to see my banker and telling him that I'm planning on BOLD EASING myself and taking as much leverage as I can for zero interest and without any intention of ever paying it back.

I'm so bullish on the economy and believe so much in this recovery that I don't have any doubts, their money will always be there and there will be absolutely no side effects and no negative implications for the bank if they just keep on giving me as much as possible without any strings attached.

In fact, I'm going to promote this strategy to my friends and they will all come to the bank and ask for the same and we will all be happy and the bank will go gang busters.

Thank you, Bernanke. You showed us how it's done and we are all understanding and learning how we can be forever rich without ever lifting another finger and how we are going to live in the land of milk and honey. This is better than paradise, Ben. Thank you!

Wed, 03/20/2013 - 15:00 | 3353418 Clowns on Acid
Clowns on Acid's picture

In fact criminal charges should be brought against the newsfeed that blurted that no News jaopan announcement.

No worries the SEC is already all over it. They have all the Nanex data and all they have to do is match it with orders / trades taking place on NYSE, Nasdaq, etc..., and voial ! they would know who had it before the news came out.

Literally, that is all one needs to follow the front running here. But apparently this is all to complex for the SEC.

The US Gov't and its agencies are turning into Zimbabwe....

Wed, 03/20/2013 - 15:44 | 3353656 Village Smithy
Village Smithy's picture

You really highlighted what has become a huge problem in FX and equities trading. There are off-shore accounts all over the world where sizable positions can be taken by any government official whom any news organization will pick up. Then they just spill out some completly BS rumour and $million later they're out of the postion and American regulators haven't a clue.

Wed, 03/20/2013 - 15:16 | 3353516 kessguv
kessguv's picture

same people who bought the US futures 2 am GMT

Wed, 03/20/2013 - 15:21 | 3353544 hannah
hannah's picture

bernanke just ask if the us could have deposits 'taxed' and he responds with 'we have insurance' and no reporter states that cyprus did and it didnt help.......we no longer have ANY FREE PRESS in this country.

Wed, 03/20/2013 - 15:36 | 3353624 kito
kito's picture

tyler, where is all of the yen going??? ben's basement? 

Wed, 03/20/2013 - 15:46 | 3353661 Village Smithy
Village Smithy's picture

Don't buy a Lexus or an Infiniti, the discounts have only just started.

Wed, 03/20/2013 - 17:15 | 3354061 ATM
ATM's picture

Dream on.

The rest of the world cannot allow Japanese exports to drive their own goods out of the market because of pricing disparaties. This means war! we will have to print more dollars just to keep up.

I thtink answer is go to your banker, borrow as much money as you can at low rates and buy up real assets NOW. Let the crazy banksters create trillions and quadrillions of new "money" and use that to pay them back.

Wed, 03/20/2013 - 15:51 | 3353673 ziggy59
ziggy59's picture

To Boldly Print Where No Printer Has Printed Before...
Ben is jealous!

Wed, 03/20/2013 - 16:04 | 3353749 mkgone
mkgone's picture

There's a weeks old gap on most Yen pairs - need a flash crash :D

Wed, 03/20/2013 - 16:26 | 3353861 Thought criminal
Thought criminal's picture

Another job well done...

Wed, 03/20/2013 - 16:26 | 3353864 Element
Element's picture

ha ... maybe Tokyo will bailout Cyprus.

Wed, 03/20/2013 - 16:55 | 3353979 Father Lucifer
Father Lucifer's picture

Tyler you're sarcasim is the absolute BEST !

Wed, 03/20/2013 - 17:02 | 3354005 Rustysilver
Rustysilver's picture

Related to Japan; Can't make this stuff up.

"A rat may have caused this week's power outage at Japan's tsunami-crippled Fukushima nuclear plant, says the company which runs it"

My guess is that it was a big rat.

Wed, 03/20/2013 - 17:59 | 3354311 Evil Bugeyes
Evil Bugeyes's picture

Mmm... roasted, radioactive rat.

Wed, 03/20/2013 - 20:07 | 3354771 NoClueSneaker
NoClueSneaker's picture


Thu, 03/21/2013 - 03:55 | 3356011 Capitalist Exploits
Capitalist Exploits's picture

Caused by a Japanese bureauRat

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