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Mr Soros Trumps Mrs Watanabe

Tyler Durden's picture





 

While the dominant flow of policy action from the Japanese has, until last week, been of the jawboning variety, the actual selling pressure on the rapidly devaluing currency has come from foreign sources. As the following chart shows, the last few months have seen not Mrs Watanabe (euphemistically selling her JPY to find better returns elsewhere) but the likes of Mr. Soros and Mr. Bass who see the endgame disorderly collapse of a currency (or perhaps it is the rest of the G7 central bankers unwinding JPY-based reserves to 'help' their fellow central planner out). The bulk of JPY selling pressure has come during non-Tokyo trading hours, as the Japanese, until last week at least, appear much more timid about Abenomics' chances of success.

 

 

(h/t @InsideGame)

 


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Tue, 04/09/2013 - 09:06 | Link to Comment swissaustrian
swissaustrian's picture

Fock you, Solos gaijin!

Tue, 04/09/2013 - 14:24 | Link to Comment Dr. Kenneth Noi...
Dr. Kenneth Noisewater's picture

Fluctuations!

Tue, 04/09/2013 - 18:34 | Link to Comment StychoKiller
StychoKiller's picture

Too bad the avatars are so small, yours is sooo naughty!

Tue, 04/09/2013 - 09:06 | Link to Comment swissaustrian
swissaustrian's picture

Could be a dead cat bounce afterall?

Tue, 04/09/2013 - 09:08 | Link to Comment Bearwagon
Bearwagon's picture

Liftoff!

Tue, 04/09/2013 - 09:11 | Link to Comment eigenvalue
eigenvalue's picture

It seems that some large funds are defending the $27.40 line. 

Tue, 04/09/2013 - 09:40 | Link to Comment Bastiat
Bastiat's picture

Die funds, die.

Tue, 04/09/2013 - 09:56 | Link to Comment eigenvalue
eigenvalue's picture

This is plagiarism.

Tue, 04/09/2013 - 10:48 | Link to Comment Bastiat
Bastiat's picture

With attitude.

Tue, 04/09/2013 - 18:34 | Link to Comment StychoKiller
StychoKiller's picture

Current Ag:  $27.90/Toz

Tue, 04/09/2013 - 10:46 | Link to Comment Bastiat
Bastiat's picture

Nice call.

Tue, 04/09/2013 - 09:11 | Link to Comment bigkahuna
bigkahuna's picture

get ready for Hyperinflation.  

Tue, 04/09/2013 - 10:09 | Link to Comment BurningFuld
BurningFuld's picture

My Spidey Senses detect a disturbance in the force. I smells a Gold rally. I also smells currency dislocations a comin'.

Tue, 04/09/2013 - 09:12 | Link to Comment buzzsaw99
buzzsaw99's picture

Mrs Watanabe isn't nearly as worried about things as billionaire Soros. Ironic.

Tue, 04/09/2013 - 09:20 | Link to Comment e-recep
e-recep's picture

Q: What is your view on gold?

Soros: That’s a complicated question. It has disappointed the public, because it is meant to be the ultimate safe haven. But when the euro was close to collapsing in the last year, actually gold went down, because if people needed to sell something, they could sell gold. Therefore they sold gold. So gold went down together with everything else.

Gold was destroyed as a safe haven, proved to be unsafe. Because of the disappointment, most people are reducing their holdings of gold. But the central banks will continue to buy them, so I don’t expect gold to go down. If you have the prospect of a crisis, you will have occasional flurries or jumps. So gold is very volatile on a day-to-day basis, no trend on a longer-term basis.

http://www.scmp.com/news/china/article/1208805/interview-george-soros

really, mr. soros? what about the 10-year trend of gold?

Tue, 04/09/2013 - 09:23 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

There's no place for gold in a new vvvirld order.

 

There may be no place for you either......hope you don't mind.

Tue, 04/09/2013 - 09:26 | Link to Comment Bastiat
Bastiat's picture

"Gold was destroyed as a safe haven, proved to be unsafe

 

No hyperbole there!  

The intent of the suppression was primarily to keep the huge majority in the west out of gold but making it look that way.

Tue, 04/09/2013 - 09:30 | Link to Comment EmileLargo
EmileLargo's picture

Funny that he called it a "bubble" back in 2011 and now he says it can't drop much from here. Peak to trough drop of 20 percent. Some Bubble!

Tue, 04/09/2013 - 18:35 | Link to Comment StychoKiller
StychoKiller's picture

Unsafe for WHOM?  A glance into the lake shows all Tozs still accounted for.

Tue, 04/09/2013 - 09:24 | Link to Comment Fezter
Fezter's picture

Sorosis of the Silver.......I'm just a little jaundiced.

Tue, 04/09/2013 - 09:26 | Link to Comment bluemaster
bluemaster's picture

This must be bullish for Euro he is major short player there to .....

Tue, 04/09/2013 - 09:27 | Link to Comment youngman
youngman's picture

The Japanese will fall on their sword if the emperor tells them to do it....very well trained..they will not sell their bonds and destroy their country.....its in their blood...

Tue, 04/09/2013 - 09:27 | Link to Comment Sudden Debt
Sudden Debt's picture

Trading these days is like going into a gunfight where your opponant can shoot 10 large magazine magazine clips at you from 2 feet away 2 hours before you get to shoot back with a slingshot... if you make it....

 

Tue, 04/09/2013 - 10:09 | Link to Comment BurningFuld
BurningFuld's picture

No way the odds are that good!

Tue, 04/09/2013 - 09:28 | Link to Comment Inthemix96
Inthemix96's picture

Another day goes by and still ZH gets me fuming.

Finding out yet a fucking gain that Dirt Box Soros hasnt shifted from this mortal coil.

I betcha this swine runs on Kryptonite or some thing.

Tue, 04/09/2013 - 12:12 | Link to Comment Black Markets
Black Markets's picture

No he is stealing his power from the motionless wrist watches of redundant miners.

 

 

Tue, 04/09/2013 - 09:29 | Link to Comment Temporalist
Temporalist's picture

Here comes Slovenia...

 

Slovenia Facing a Banking Crisis, Report Warns

 

"‘'Slovenia is facing a severe banking crisis, driven by excessive risk-taking, weak corporate governance of state-owned banks and insufficiently effective supervision tools,'’ according to the report.

Last year’s estimate of the level of bad loans in the banking system is outdated and was created by methodology that was weak and nontransparent, so the real damage could be worse, the organization said."

http://www.nytimes.com/2013/04/10/business/global/oecd-warns-slovenia-on...

 

and...

The International Bank Heists Have Begun

http://finance.yahoo.com/blogs/the-exchange/international-bank-heists-be...

 

Tue, 04/09/2013 - 09:53 | Link to Comment Gief Gold Plox
Gief Gold Plox's picture

I'm sure this time it'll be different. Completely different.

Tue, 04/09/2013 - 10:23 | Link to Comment e-recep
e-recep's picture

http://finance.yahoo.com/blogs/the-exchange/international-bank-heists-be...

lols, the graph in the link above is fucking hilarious.


Tue, 04/09/2013 - 18:39 | Link to Comment StychoKiller
StychoKiller's picture

Iff'n yer not a Cypriot, then yes, yes it is!

Tue, 04/09/2013 - 09:32 | Link to Comment Itch
Itch's picture

Market makers must be taking a beating, which is never a good sign for retailers; they start getting nasty and petty, getting filled becomes like scoring a blowjob in a nunnery...

Tue, 04/09/2013 - 09:31 | Link to Comment Inthemix96
Inthemix96's picture

So to sum it up this morning,

Its looking mighty fine out there if you run a small business, have lots of shiny stuff and know the evil one Soros?

Thats me fucking sorted then, FORWARD COMRADES....

Tue, 04/09/2013 - 09:34 | Link to Comment eddiebe
eddiebe's picture

This is wildly bullish for stocks. No joke! Down arrow me if you wish, but think about the statement.

Tue, 04/09/2013 - 09:37 | Link to Comment Inthemix96
Inthemix96's picture

Joke eddiebe?

Johnny comes home from school and tells his mum that the kids have been talking about what their dads do for a living.  His mum says what did he say, and Johnny says, "I told them he was a street smart pimp who whores out bitchez, and he sells crack cocaine to little boys and girls while gun running for Eric Holder".

Mums not happy and says why did he do that?  Johnny says, "Come off it mum, how could I tell my friends and teachers that my dad is politician?".

Tue, 04/09/2013 - 10:01 | Link to Comment Pareto
Pareto's picture

+100 for the johnny joke first thing in the morning!!  he he heee  "smart pimp how whores out bitchez"

Tue, 04/09/2013 - 11:55 | Link to Comment Bastiat
Bastiat's picture

 

Whereas a politician is a smart pimp who whores out citizens--difference is that the politician lies about it.

Tue, 04/09/2013 - 11:59 | Link to Comment Ghordius
Ghordius's picture

careful, Frederic Bastiat was a politician, too, elected as member of parliament

Tue, 04/09/2013 - 12:53 | Link to Comment Bastiat
Bastiat's picture

The risk of generalizing, I guess. 

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