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BoJ Unveils 'Shock-And-Awe' Quantitative-Qualitative Easing

Tyler Durden's picture




 

As Citi's Todd Elmer notes, today's BoJ outcome looks far closer to 'shock and awe' than disappointment. It appears the BoJ's actions may speak as loud as their words for now - JPY is weakening and the Nikkei is rallying after Kuroda's last shot at a first impression appeared to beat expectations (covering for disappointing macro data - despite six months of jawboning and a 20% devaluation). Expectations, though tough to extract given the range of possible actions, appeared centered on extending maturities of bond purchases, increasing the size (median expectations of around JPY5.2tn per month or 50% higher than in Q1), bringing forward the open-ended nature of the program, and increasing scope to foreign bonds and REITs. In his effort to do "whatever it takes", the BoJ is upping asset purchases, extending the maturity of purchases and merging its asset purchase program; increasing the size to JPY7tn and buy securities out to 40 years. Though no mention of foreign bond-buying was made, and increase in ETFs and REITs is included. They have given themselves a two-year window to achieve the 2% inflation goal - paging Kyle Bass - and ironically, as the news broke Tokyo was hit by a significant earthquake.

  • *BOJ INTRODUCES "QUANTITATIVE, QUALITATIVE MONETARY EASING''
  • *BANK OF JAPAN MERGES ASSET PROGRAM WITH REGULAR BOND BUYS
  • *BANK OF JAPAN TO BUY LONGER-TERM GOVERNMENT BONDS
  • *BOJ TO BUY 7T YEN OF BONDS PER MONTH
  • *BOJ SETS TIME HORIZON OF TWO YEARS TO ACHIEVE INFLATION GOAL
  • *BOJ CHANGES MARKET OPS TARGET FROM CALL RATE TO MONETARY BASE
  • *JAPAN QUAKE INTENSITY 4 IN CHIBA, NEAR TOKYO, NHK SAYS

 

Abe will be pleased with the initial kneejerk off Kuroda's words...

 

The Nikkei naturally knee-jerked higher too - but is fading back a little now...

 

ad naturally all risk-assets are bid on the wave of FX carry exuberance... see printing money does make things all better...

 

Though it seems the bigger the Fed balance sheet relative to the BoJ, the weaker the JPY gets?

 

BoJ

Charts: Bloomberg

 

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Thu, 04/04/2013 - 08:04 | 3407299 Pegasus Muse
Pegasus Muse's picture

Too bad they didn't catch NYC's billionaire mayor who off-shored much of his money in Tax Havens round the world to avoid paying his fair share.

“Mayor Michael Bloomberg on Thursday said there's nothing wrong with his money managers investing hundreds of millions of dollars in offshore tax havens, ….”

http://www.foxnews.com/topics/issues/overseas-tax-shelters.htm

It must be good to be King, eh, Mikey?  A-hole.

Thu, 04/04/2013 - 01:12 | 3406922 bigwavedave
bigwavedave's picture

Thats $750 Billion US Fiat per month folks! 

Thu, 04/04/2013 - 01:17 | 3406937 rcintc
rcintc's picture

Misplaced a zero there big d.

$75 Billion per month....pikers compared to the US Fed.

Thu, 04/04/2013 - 01:23 | 3406947 lolmao500
lolmao500's picture

Pikers? When their economy is a third of the US? Lulz.

Thu, 04/04/2013 - 01:37 | 3406968 Yamaha
Yamaha's picture

Hard to do math with shaking boobs......carry on.

Thu, 04/04/2013 - 04:47 | 3407124 malikai
malikai's picture

Our USDJPY model's performance.

http://blog.quantsig.net/2013/04/04/usdjpypost-boj/

Thu, 04/04/2013 - 05:50 | 3407148 Scarlett
Scarlett's picture

84,000,000,000,000.00 per year.  No hyperinflation, nothing to see there...

Thu, 04/04/2013 - 06:06 | 3407155 new game
new game's picture

recap of human craziness:

BoJ = weinmer 101

N.K.= luny Tune in charge-Iran Dup.=blow your ass up reteric=WTF=my dick is bigger-NOT...

Euro=theft of labor, open and notorious=desparation of banksters/polys/crooks in charge

Rusky=crooks taking from crooks or else!-hahaha-we want the money here now...putins put!

nwo=small arms roundup(monsanto style). line in sand?

rotation out of pm to casino=zirps cum along

shalom/krug=bubble epoc; truth tellers minimalized/discredited-where is the 3rd reich?

enter the savior of the world - vacationing in hawaii, getting a tan...

what could go right?

Thu, 04/04/2013 - 06:10 | 3407161 new game
new game's picture

mideast=decent to chaos...

Thu, 04/04/2013 - 01:17 | 3406939 Edward Fiatski
Edward Fiatski's picture

No, it's $73 bln per month.

This is one hell of a toilet-paper announcement - We'll see if the market buys their bullshit.

Thu, 04/04/2013 - 02:11 | 3407011 Bunga Bunga
Bunga Bunga's picture

Too much toilet paper can clog the sewer line.

Thu, 04/04/2013 - 07:16 | 3407249 firstdivision
firstdivision's picture

Well I believe the OP will be redeemed on his maths come 6 months when they have to do $730B/Mo.

Thu, 04/04/2013 - 01:18 | 3406941 suteibu
suteibu's picture

More like $75 billion, but still substantial based on % of GDP and when compared to the Fed.

Thu, 04/04/2013 - 04:13 | 3407102 sodbuster
sodbuster's picture

$750 billion per month!!!???? You just gave Krugman an instant hard-on.

Thu, 04/04/2013 - 01:13 | 3406927 FieldingMellish
FieldingMellish's picture

Ctrl-p is the answer. What was the question?

Thu, 04/04/2013 - 01:16 | 3406933 myne
myne's picture

CTRL-A

Thu, 04/04/2013 - 05:46 | 3407147 Scarlett
Scarlett's picture

CTRL-ALT-DEL

Thu, 04/04/2013 - 07:17 | 3407252 firstdivision
firstdivision's picture

Up-up-down-down-left-right-left-right-A-B-B-A

Thu, 04/04/2013 - 08:04 | 3407319 Lets_Eat_Ben
Lets_Eat_Ben's picture

"Up-up-down-down-left-right-left-right-A-B-B-A"....select start!

Thu, 04/04/2013 - 01:16 | 3406930 Kirk2NCC1701
Kirk2NCC1701's picture

I think the BOJ is Going Japanese, I really think so.

Thu, 04/04/2013 - 02:13 | 3407012 Bunga Bunga
Bunga Bunga's picture

Haven't they tried it for the last 20 years?

Thu, 04/04/2013 - 08:00 | 3407311 pods
pods's picture

But this time is different. 

pods

Thu, 04/04/2013 - 01:16 | 3406931 sharky2003
sharky2003's picture

And gold rallies $3. WTF. I'm starting to think someone, somewhere is in trouble and is liquiding it all...

Thu, 04/04/2013 - 06:51 | 3407205 Panafrican Funk...
Panafrican Funktron Robot's picture

Shadow banking is continuing to collapse.  That's the "reason" behind the printing insanity, and the seemingly irrationally muted response in the price of gold.  The humorous part is that ZIRP + printing is actually making the shadow banking collapse much, much worse.

Thu, 04/04/2013 - 01:17 | 3406932 sandiegoman
sandiegoman's picture

Yeah but how many bit coins is it?

Thu, 04/04/2013 - 01:16 | 3406934 chump666
chump666's picture

Poor Japan.  You'll need to stave off China all out attack (on all fronts) soon and yes their $230billion of your bonds that could be dumped at anytime.  FX/bond war to war.

All out war is imminent.  

Thu, 04/04/2013 - 01:21 | 3406943 Edward Fiatski
Edward Fiatski's picture

Only another war can solve their demographical & econ problems at this point. 3-11-3 was a Godsend for Keynesian GDP growth, but it's a good buttfucking in the long run.

Thu, 04/04/2013 - 02:00 | 3407002 Non Passaran
Non Passaran's picture

your comment doesn't make any sense.

Thu, 04/04/2013 - 02:08 | 3407008 Edward Fiatski
Edward Fiatski's picture

http://www.dryships.com/pages/report.asp

Clearer now?

There isn't going to be a recovery. There isn't going to be a return to credit expansion. There isn't going to be many useless eaters left on the face of the Earth by the end of this decade.

See 1929-1932 and 1939 for further Enlightenment.

Thu, 04/04/2013 - 04:55 | 3407127 Western
Western's picture

maybe they can start with you?

 

you seem to know the future quite well, care to share your secrets..

Thu, 04/04/2013 - 06:53 | 3407207 Panafrican Funk...
Panafrican Funktron Robot's picture

His "future prediction" is basically "what has been happening since the credit collapse is likely going to continue".  Shadow banking is continuing to crash, and ZIRP + print is making it worse.

Thu, 04/04/2013 - 02:18 | 3407019 chump666
chump666's picture

If there is a major war which could be very close.  It will blow the global ecomomy apart, probably beyond repair.  The derivative/FX/bond/Stock market's are all intertwined on leverage that makes 2008 look like nothing.  Even central banks will be obsolete, especially the ECB that is propped up by Wall Street main boy the NY Fed.

China was supposed to be the white knight econ savior for the global ecomomy.  If they are inching to war using Nth Korea, then China will cut the West a new a-hole. 

It doesn't look good, now with Japan in panic mode.

 

 

Thu, 04/04/2013 - 02:30 | 3407031 Edward Fiatski
Edward Fiatski's picture

Depending whether it's a conventional or a thermonuclear conflict, CBs will be very vital, as they have always been.

RE: synthetic instruments & debt - such a war would also be a debt jubilee event, along with "write off" of millions of people.

Thu, 04/04/2013 - 03:18 | 3407071 Seer
Seer's picture

I'm thinking that the economy is already beyond repair.

Thu, 04/04/2013 - 05:57 | 3407152 negative rates
negative rates's picture

Only yours.

Thu, 04/04/2013 - 01:17 | 3406936 salvadordaly
salvadordaly's picture

There is so mutch stuff rolling down the pipeline lately, that I am sure something big is going down and soon. Put your head between your legs and stay tuned!

Thu, 04/04/2013 - 01:50 | 3406987 Yamaha
Yamaha's picture

Agreed - so Tyler - how many central banks are buying ETF's and REITS with endless money? How many are not admitting it and doing through some other means?

Thu, 04/04/2013 - 01:17 | 3406938 Poor Grogman
Poor Grogman's picture

Be careful what you wish for, you just might get it...

Thu, 04/04/2013 - 01:19 | 3406940 Curt W
Curt W's picture

When the hole gets too deep, dig faster. 

 All central bankers were cast from the same mold.

Thu, 04/04/2013 - 03:18 | 3407072 Seer
Seer's picture

When growth is the problem, MOAR growth "has" to be the way out!

Thu, 04/04/2013 - 01:22 | 3406944 lolmao500
lolmao500's picture

If this is true, it's gonna be hyper bullish...

According to posters on Weibo (Chinese Twitter), Peoples Liberation Army forces from the Shenyang Military Region are moving into North Korea, including elements of the 16th, 23rd and 39th Group Armies.

Question is... are they invading to overthrow their asses or to help them invade the South?

Thu, 04/04/2013 - 01:33 | 3406960 HulkHogan
HulkHogan's picture

First- Someone made a lot of money from that spike on the chart. Wow!

Second - Good find lolMao500. Thursday looks like it's going to be very interesting.

Thu, 04/04/2013 - 01:40 | 3406962 lolmao500
lolmao500's picture

3 chinese army groups BTW is 135k-180k troops. And this time, unlike during the Korean war, they have not just AK-47s... they have tanks, planes and artillery.

Since (so far) it's not being reported by the MSM... either it's total BS ... OR... China is doing this undercover and not ``invading`` them per say... but sending troops in to help them... for whatever purpose. Since China didn't ``invade`` NKorea per say, no news is reporting on it.

We'll see in the next few days.

Thu, 04/04/2013 - 01:52 | 3406988 prains
prains's picture

either it's total BS......... yes

the pentagon would be going batshit crazy if this was the case and Haliburton would be mobilizing for another "infrastructure contract" code red.

Thu, 04/04/2013 - 05:21 | 3407140 Zwelgje
Zwelgje's picture

you are broke.

Thu, 04/04/2013 - 01:54 | 3406989 FinalCollapse
FinalCollapse's picture

Actually there is another quite logical explanation: Chinese want to take out that little kid that threatens everyone with thermonuclear war. If Americans or South Koreans did it, it would trigger very serious conflict - possibly WW3. In this case, Americans and South Koreans just siiting there and watching while the Chinese army takes that unpredictable maniac out of the picture. This way, the NK remains a Chinese vassal and the status quo is protected. If done properly the biggest winners will be the people of NK - better Chinese communism than the NK brand of communism.

Thu, 04/04/2013 - 01:56 | 3406994 prains
prains's picture

sounds to real to be the case and anyway how does Goldman make money on that play?

just going to put my drink down.... ok

legit idea but doesn't explain the last 50 years of NK rule, this is not much different? why now?

Thu, 04/04/2013 - 02:03 | 3406999 lolmao500
lolmao500's picture

Because now they have nukes... and they don't listen to China anymore... and China is more interested by money than loyalty to communism ideology.

They are scared NKorea will start a war because they are so a bunch of dumbasses... and once Korea is united, Beijing will be quite vulnerable.

Thu, 04/04/2013 - 02:27 | 3407005 prains
prains's picture

totally buy your third point, China elite are all Goldmanite wanna be's, the first two points are still speculation. They maybe nuclear but can only throw it as far as a wing and a prayer. Can't trust any "western" intelligence on the matter either. As far as NOT listening to China, forget it, no sale.

What the answer is; is well beyond my pay grade.

 

Simple is my name so simple is my game.

Goldman owns the world, ergo, Goldman owns the Chinese and the Americans, they dance to Goldman's tune. NK is a franchise that too wants to be owned by Goldman. When you want to be bought and at a good price, you pimp your numbers any way you can. This is pimping and the Chinese are helping NK by acting scared. It's ALL about hookers and blow for these clowns.

 

Yes this might be thinking outside the box...ed wine, but it always comes down to fundamentals, tits, ass, cash, rinse, repeat

Thu, 04/04/2013 - 07:05 | 3407230 francis_sawyer
francis_sawyer's picture

China is in there to take out the gang of 40 N Koreans who were plotting to take out the White House in 13 minutes flat... This was on special request from the teleprompter who was afraid he was going to get kidnapped on Masters Week...

~~~

Don't you people know anything?

Thu, 04/04/2013 - 01:58 | 3406996 Non Passaran
Non Passaran's picture

+1
I was thinking of that just a few hours ago (how China may send parachuters to eliminate the punk and stabilize the situation).

Thu, 04/04/2013 - 02:15 | 3407000 lolmao500
lolmao500's picture

I really hope they do this... Pyongyang is really close to the Chinese border (100 miles or so) and they don't have much defense on that axis... everything is aimed at SKorea. A couple of Scuds in retaliation on Beijing could be quite hilarious.

Thu, 04/04/2013 - 02:41 | 3407041 enloe creek
enloe creek's picture

china troops are there to prevent us from attacking

Thu, 04/04/2013 - 02:47 | 3407046 lolmao500
lolmao500's picture

Yeah it might be that simple.

Thu, 04/04/2013 - 10:17 | 3407511 Dewey Cheatum Howe
Dewey Cheatum Howe's picture

More like to keep the mass refugee exodus from spilling into their country that will ensue if NK actually follows through on it's threats or if the mass starvation starts when the sabre rattling doesn't get NK their clockwork payoff of food and oil needed to keep the place from turning into total chaos.

Thu, 04/04/2013 - 04:25 | 3407111 MythicalFish
MythicalFish's picture

You wouldn't need 180k troops for that sort of operation though, just nick his train next time he comes around for (green) tea..

Thu, 04/04/2013 - 01:55 | 3406992 Non Passaran
Non Passaran's picture

Weibo as a news source upon which to base a post? Lol!
Dude it auto-spellcheck-corrects to "weirdo". Doesn't that make you a bit suspicious?
Everything that is *allowed* to appear on Weirdo is ChiCom propaganda.

Thu, 04/04/2013 - 02:25 | 3407030 lolmao500
lolmao500's picture

I lived during the Cuban missile crisis... and back then, I had confidence in JFK, in the government. They were intelligent people and cared about the US.

Now? With the low life corrupt incomptent scum running congress and the WH?? Better kiss your asses goodbye if shit gets real.

Thu, 04/04/2013 - 02:32 | 3407033 wee-weed up
wee-weed up's picture

I too, remember that time very well and agree with your assessment 100% for the government then and now.

Thu, 04/04/2013 - 04:56 | 3407128 BeetleBailey
BeetleBailey's picture

That answer is directly this; money.

 

China makes bank off the US. North Korea? Not so much.

Love these war mongers on here, but China will act in CHINA'S best interests - and a war - over this NK turd's machinations - is not wise for them - and they know it.

My money's on them seizing control of NK, and making it a province. The US and Russia will glady agree, thus, ending the NK/SK crapola once and for all.

 

NK has no significant global role. It's a fucking pain in the ass I am sure for Bejing......

Thu, 04/04/2013 - 07:04 | 3407225 Panafrican Funk...
Panafrican Funktron Robot's picture

As I mentioned yesterday, I think you're forgetting the tremendous advantage China would gain in the absence of the petrodollar (and with their recent massive gold buys and helping Iran get Kish rolling, they're ready to roll day 1).  

I think we're also forgetting that, as a vassal state, NK has ICBM and can EMP most of North America right now.  

Thu, 04/04/2013 - 07:06 | 3407233 SmallerGovNow2
SmallerGovNow2's picture

now we put out news based on an obscure twitter post?

Thu, 04/04/2013 - 01:25 | 3406952 valkir
valkir's picture

I wanna give up.But somehow,i cant.Tell me,how to sell all my PM and buy bitcoins or apple or FB.Ha ha,anytime they smack the metals,i am angry,and charge another credit card to the full.Guess what?I wont pay the "ballance".

Fuck you Bernanke.

Thu, 04/04/2013 - 01:28 | 3406954 suteibu
suteibu's picture

FM Amari did promise 13,000 on the Nikkei 225.  He might be on target ahead of the upper house elections this summer.  If the LDP wins control of that body, look out.  Abe will be like Obama on steroids.

Thu, 04/04/2013 - 01:31 | 3406958 Jayacts
Jayacts's picture

Timber!

Thu, 04/04/2013 - 01:31 | 3406959 Meat Hammer
Meat Hammer's picture

Fuck you Bernanke-san

Thu, 04/04/2013 - 01:32 | 3406963 Clowns on Acid
Clowns on Acid's picture

So I guess BOJ has become the ultimate hedge fund. Just print money and buy stocks and bonds? Hey why didn't Bernankle think of that ? Oh wait a minu.....BUY BUY BUY !

 

Thu, 04/04/2013 - 01:43 | 3406970 AynRandFan
AynRandFan's picture

Just think, when JPY are worth nothing, assets priced in them will be worth an infinite amount.

Such is the logic of our times.

Thu, 04/04/2013 - 09:43 | 3407628 Hedgetard55
Hedgetard55's picture

Zero times infinity still = zero.

Thu, 04/04/2013 - 01:44 | 3406980 piliage
piliage's picture

Wow. Paging Robert Mugabe, paging Robert Mugabe. We have just located your economic baggage, it showed up in the lost luggage bin on a ANA charter flight.

Thu, 04/04/2013 - 02:01 | 3407003 Yen Cross
Yen Cross's picture

     I sure hope that anyone that was short the Nikkei had trailing stops on their trades. That market is 'manic'.

           Japan NI225    12518.50 high    12362.20    12518.50    12073.50 low    156.30

 

 

Thu, 04/04/2013 - 02:08 | 3407007 q99x2
q99x2's picture

And how much faster is this susposed to crash the bond market?

Thu, 04/04/2013 - 04:13 | 3407105 MythicalFish
MythicalFish's picture

LOL

 

"Paging Kyle Bass"

 

You gotta be long the JGB, so you can sell more later ;)

Thu, 04/04/2013 - 02:08 | 3407009 Reven
Reven's picture

Strangely, gold yet again reacts bearishly to bullish news.  Curious... 

Thu, 04/04/2013 - 04:42 | 3407010 ebworthen
ebworthen's picture

More money printing? 

"More soy sauce!  More noodles!  More Flames!. 

Go ahead and print more fiat you silly central bankers.

Kabuki dinner theater there, here, everywhere!

Thu, 04/04/2013 - 02:17 | 3407015 Zgangsta
Zgangsta's picture

Wow...Nikkei up over 5% from the day's lows!

Thu, 04/04/2013 - 02:19 | 3407018 lolmao500
lolmao500's picture

Devaluating forward!

Thu, 04/04/2013 - 02:18 | 3407016 lolmao500
lolmao500's picture

Devaluation we can believe in.

The Japs really need to man up and hang these scum.

Thu, 04/04/2013 - 02:22 | 3407024 Aunt KatKat
Aunt KatKat's picture

I just watched Margin Call with my eleven year old who also had insomnia and she said, “What is this?  Zerohedge with pictures?”

Thu, 04/04/2013 - 02:34 | 3407034 lolmao500
lolmao500's picture

You have a smart kid!

Thu, 04/04/2013 - 02:50 | 3407049 Awakened Sheeple
Awakened Sheeple's picture

LOL!

Well done. Let us know when you've got her saying, "Gold Bitchezz!"

Thu, 04/04/2013 - 10:03 | 3407737 Aunt KatKat
Aunt KatKat's picture

I’ve been trying to teach her to speak respectfully to other people, but you touched on a family joke. 

I’ve pouted to my husband, “No one called me a bitch today.”  He replies, “Read Zerohedge comments dear, and if no one writes it today, I’ll take care of it when I get home.”

Thu, 04/04/2013 - 02:34 | 3407035 delivered
delivered's picture

Iceland got it. Clean house, clear the books of all of the crap, hit bottom first, and then start to grow. Greece blew it as you always want to go BK with resources available to work through the BK process (i.e., hard currencies). Greece let the EU paint them into a corner they could not get out of. Greece sold their soles, allowed the banksters to position their interests in the best assets and rape, pillage, and plunder the country. Greece's strategic blunder was very simple - they believed the banksters from the EU actually cared about the Greeks. Cyprus, same story different names. The moral of the story is simple and in the words of Steve Martin who played Navin R. Johnson in the movie the Jerk (when getting advice from his brother) - "Never Trust Whitey". Or if you prefer - "If you catch it, see a doctor and get rid of it". The greatest con of the century is being played out in convincing this poor countries of the need to stay in the Euro. These poor soles are going to be paying off this debt for the next century.

What does this have to do with Japan - Simple. Japan get's it. Either inflate or default. I'm not saying they are going to be successful but at least they understand the situation they're in and are going all in with the hopes of trying to inflate their way out of this mess. Chances of being successful, slim. But at least they've made a decision to go all in. Nothing else they really can do. Not with the government borrowing 50+% of all annual expenditures. Not with their aging population. Not with a massive transition to fossil fuels from nuclear. Not with neighbors of greater military strenght knocking on their doors.

At some point, a decision has to be made. Iceland made it, Greece and Cyprus did not. Japan is making it. Time to pay the piper, devalue the Yen, and repay their debt (internal) through a massive standard of living decrease to be placed on what's left of their working population. Not a pleasant choice but I give them credit for laying it on the line and being the first out of the real starting line or gate. A harsh reality for a true business owner but then again, only true business people understand what it means to make extremely difficult business decisions in order to save the venture they love and live with every day. At least I give the parties in Japan credit for making a decision and stating plain and simple, it's time to inflate.

Can't say the same for bullshit coming out of the ECB or FED as they sold their soles to the politicians ages ago.

Thu, 04/04/2013 - 05:55 | 3407150 css1971
css1971's picture

No, Japan doesn't get it. The debt has to be repudiated. It has to go away.

 

Default makes the debt go away.

Printing paper money makes the debt go away.

What Japan is doing; creating more debt doesn't make the debt go away. Japan has failed miserably every time they've tried this. Want to know why? THEY KEEP CREATING MORE DEBT.

 

Retarded doesn't begin to describe how stupid this is.

 

Or rather. I no longer believe this is simple stupidity, Hanlon's razor; Stupidity doesn't adequately explain this, therefore it's malice.

Thu, 04/04/2013 - 06:36 | 3407183 eddiebe
eddiebe's picture

Delivered, True enough Iceland got it. But I disagree with your reasoning about Greece and Japan. Greece's and Japans leaders got told what to do and sold out their citizens. And soles are the part of the shoe that hits the pavement.

Thu, 04/04/2013 - 07:57 | 3407306 Mi Naem
Mi Naem's picture

So the Greeks, the ECB, and the FED are all walking around with nothing on the bottom of their shoes?!? 

Man, that's gotta friggen hurt! 

Who's buying all these soles, anyway? 

Is there an EFT for that? 

Thu, 04/04/2013 - 02:37 | 3407039 88888
88888's picture

New Qe from the BOJ. What a shocker. ES up 5 handles i guess. just wild. http://tradingvix.blogspot.com/2013/04/overnight-boj-meeting.html

Thu, 04/04/2013 - 02:49 | 3407047 Hengist
Hengist's picture

Chinese pulp imports are down 20% the last quarter now I know none of you care about pulped tree fibers but it's an indicator of manufacturing because a lot of it goes to make card board boxes and containers.  Used to package and ship finished goods in.  The latest rumblings from North Korea may be about the Chinese running scared about declining exports and hence jobs and NK is it's proxy.

Thu, 04/04/2013 - 03:29 | 3407080 Seer
Seer's picture

I love these backdoor ways of exposing what's really going on.  Do you have a link to the reported data on the pulp imports? (thanks in advance)

Thu, 04/04/2013 - 06:57 | 3407217 SmallerGovNow2
SmallerGovNow2's picture

Grow hemp...  paper, fiber, rope... renewable...

Thu, 04/04/2013 - 02:50 | 3407048 Awakened Sheeple
Awakened Sheeple's picture

.

Thu, 04/04/2013 - 03:11 | 3407060 flrzero
flrzero's picture

Earthquake?? I am in Tokyo. Didn't notice any. Ok, here it is http://www.jma.go.jp/en/quake/3/20130404135135395-041342.html.

It was a "1" in most parts of Tokyo and only 5.3 Richter. That's not significant. These small quakes happen all the time.

Thu, 04/04/2013 - 03:22 | 3407075 zetsurin
zetsurin's picture

There have been a lot of small shocks around Sanriku recently.  When I was living in Tokyo, it looked a lot like that around the 9th March 2011, and two days afterwards I was simulteously running down 26 flights of stairs while crapping my pants.

Thu, 04/04/2013 - 03:13 | 3407065 PUD
PUD's picture

I wonder if our new treasury secretary will brand them currency manipulators?

Thu, 04/04/2013 - 03:31 | 3407082 Seer
Seer's picture

I think we need to plaster "Currency manipulators inside" and "Buy Bitcoins!" on all the major banks' windows.

Thu, 04/04/2013 - 03:21 | 3407073 zetsurin
zetsurin's picture

So it's "any JPY5.2tn per month it takes" eh?  Those elderly diapers are going to become awfully expensive.

Thu, 04/04/2013 - 03:32 | 3407083 observer007
observer007's picture

Offshore-Leaks: List of tax evadors

Offshore financial industry leak exposes identities of 1,000s of holders of anonymous wealth from around the world. The names have been unearthed in a novel project by the Washington-based International Consortium of Investigative Journalists [ICIJ], in collaboration with the Guardian and other international media

http://homment.com/offshore-leaks

Thu, 04/04/2013 - 06:55 | 3407211 SmallerGovNow2
SmallerGovNow2's picture

Investigative journalists actually exist?

Thu, 04/04/2013 - 09:12 | 3407517 Dewey Cheatum Howe
Dewey Cheatum Howe's picture

Only if you have a username and password.

Thu, 04/04/2013 - 04:48 | 3407125 deebee
deebee's picture

yeah thats some heizenberg quality straight to the vein. pathetic junkies

Thu, 04/04/2013 - 05:27 | 3407142 falak pema
falak pema's picture

Oligarchs of the world unite we have nothing to lose except our Virgin Islands stashed wealth hidden from those "Gestapist Tax collectors!"...

Leaks reveal secrets of the rich who hide cash offshore | UK news | The Guardian

32 T of oligarchy private money and 16 tons of labour and sweat for the 7 billion people of the world! 

Thu, 04/04/2013 - 06:07 | 3407160 gatorengineer
gatorengineer's picture

I think that this a raise to the Bernank.....  I think he will see their raise to 75B and raise mine to 125B.......  Due to the potential impact of potenital hostilities, in the korean peninsula, Iran, or Detroit.....

 

Mr Draghi, Mr Draghi.... your bet.....

Thu, 04/04/2013 - 07:01 | 3407221 A82EBA
A82EBA's picture

well good maybe that will bring pm back up

Thu, 04/04/2013 - 06:11 | 3407163 Mototard at Large
Mototard at Large's picture

Totally off topic, but do you think that HP and the other printer companies have evil and predatory pricing practices on its inkjet printer refill cartridges?  Please see article and survey.  I will keep this survey up for one month and then send the results to HP’s CEO and VP of marketing.  http://tinyurl.com/cjpvaf7

Thu, 04/04/2013 - 06:21 | 3407173 Thought criminal
Thought criminal's picture

Gotta say, making over 100% overnight feels good. Wouldn't wanna be the one having all his savings in JPY though, the BoJ is a thief worse than Cypriot politicians.

Thu, 04/04/2013 - 06:22 | 3407175 Racer
Racer's picture

NIK moved more than 1,000 points in 3 days... WTF!

Thu, 04/04/2013 - 06:36 | 3407185 sharky2003
sharky2003's picture

uh nikkei futures moved almost that much in just a few hours today. definitely a WTF

Thu, 04/04/2013 - 06:42 | 3407194 goldenbuddha454
goldenbuddha454's picture

All this central bank money printing is like pouring gasoline on a pile of wet wood.  They pour some gas, light the match it goes out, pour a little more, light, it goes out, and they do this over and over and over until finally they say fuck it, like BOJ just did they pour a whole can of gas on the pile of wet wood.  Now when there's a spark-Kafucking-BOOOOOOOOOOOOOOOOOOM!

Thu, 04/04/2013 - 07:46 | 3407290 Mr. Hudson
Mr. Hudson's picture

In the meantime, the sky keeps falling.

Thu, 04/04/2013 - 08:06 | 3407326 eri
eri's picture

UNLEASH FIAT !!!!

Thu, 04/04/2013 - 08:15 | 3407353 Vooter
Vooter's picture

The panicky desperation of TPTB just makes their eventual and unavoidable FAILURE that much funnier and sweeter! PRINNNNNNNNNNT!!! PRINNNNNNNNT!!!

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