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Japanese Stocks Halted; Plunge 1500 Points To Close Down 7.3% - Biggest Drop In 26 Months

Tyler Durden's picture




 

UPDATE 1: They are panicking... BOJ injected 2 trillion yen ($19.4 billion) into the financial system to stem volatility following a circuit breaker in JGB futures trading.

UPDATE 2: Nikkei 225 is now down 1500 points from its highs and down 1150 (over 7%) from yesterday's close

All the time it is just the quadrillion JPY second-largest bond market in the world that is experiencing volatility on an unprecedented scale, the BoJ and her partners in crime are more than willing to 'officially' say "please do not worry." But when the equity market - that barometer of everything good and holy about Abenomics starts to crater, you can bet the excuses will come fast and furious. Today's drop of over 1500 points (over 9%) from the earlier highs is the largest drop for the Nikkei 225 since March 2011. The Nikkei 225 just lost the all-powerful 15,000 level and is suffering another VaR shock with a 6-sigma move today. In fact given the price levels this drop is on par with the post-Lehman moves in 2008. The question now (with US equity futures also fading fast -20 points and JPY crosses getting hammered) is how will the Japanese risk appetite for peripheral European crap hold up with this crimping in their plan as Japanese bonds and stocks dump?

The Nikkei 225 is down 7% (1000 points) from its earlier highs...

 

High-to-low this is the biggest drop in 26 months...

Close-to-close this is the biggest drop in the Nikkei in over 26 months!!

 

 

The Final closing data is a disaster with JPY surging back to 101.50 (carry trades getting baumgartner'd everywhere), stocks down over 7%, and 10Y JGBs swinging from +11bps at the open to -6bps at the close for the second biggest range day in a decade...

Charts: Bloomberg

 

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Thu, 05/23/2013 - 00:35 | 3590832 Major Major Major
Major Major Major's picture

BTFD!!!

Thu, 05/23/2013 - 00:38 | 3590841 DoChenRollingBearing
DoChenRollingBearing's picture

BTF Gold D!

While you still can...

Thu, 05/23/2013 - 00:39 | 3590844 tsx500
tsx500's picture

GAME ON !

Thu, 05/23/2013 - 00:56 | 3590876 Manthong
Manthong's picture

4 sigma?..  aw pshaw..

Show me some 6 more smegmas and I will be impressed.

Thu, 05/23/2013 - 01:05 | 3590896 Pool Shark
Pool Shark's picture

 

 

Yawn.

Still waiting for a Triple Lindy...

 

 

Thu, 05/23/2013 - 01:07 | 3590901 CheapBastard
CheapBastard's picture

uh, oh.....

Thu, 05/23/2013 - 01:18 | 3590918 disabledvet
disabledvet's picture

the foreign money moved in...for the kill. as with gold "they ramped this thing to the moon." goodbye yen. "get the message Mr. Fed Chairman." were it not for "those crazy equity guys" that's exactly what you'd be looking at right now. spreads are blowing out, "Greece times a trillion." oh, and Banzai...you have shamed your people. "take a good hard look at THEM."

Thu, 05/23/2013 - 01:41 | 3590965 I think I need ...
I think I need to buy a gun's picture

sometimes a good healthy correction can set us up for the next leg higher, whats 1K? Then maybe we can put another 5K on this summer!!!!!!!!

Thu, 05/23/2013 - 01:56 | 3590993 James_Cole
James_Cole's picture

If this is a healthy correction, God help us all when there's an unhealthy one. 

Thu, 05/23/2013 - 02:03 | 3591005 Meat Hammer
Meat Hammer's picture

Nikkei down over 1,100 points as of 11:00 PDT

Thu, 05/23/2013 - 02:20 | 3591033 James_Cole
James_Cole's picture

Nikkei down over 1,100 points as of 11:00 PDT

Don't worry cnbc assures me boj has 'unlimited firepower'

Thu, 05/23/2013 - 03:03 | 3591090 lewy14
Thu, 05/23/2013 - 04:15 | 3591141 Bearwagon
Bearwagon's picture

+1 for Zero Wing reference

Thu, 05/23/2013 - 05:25 | 3591192 malikai
malikai's picture

JGBs, EURJPY, USDJPY

Pretty scary looking stuff.

http://blog.quantsig.net/2013/05/23/fear-and-loathing-in-abeonomics/

Thu, 05/23/2013 - 06:05 | 3591223 James_Cole
James_Cole's picture

JGBs, EURJPY, USDJPY

Pretty scary looking stuff.

Gold looks like it might have a bit of bite in it. The NK probably scared the shit out of a few people. 

Thu, 05/23/2013 - 06:14 | 3591229 malikai
malikai's picture

NK's move cut a few people to shreds.

I'll do one on PMs later today. It looks like something big is in the setup.

Thu, 05/23/2013 - 06:37 | 3591256 James_Cole
James_Cole's picture

I thought gold was in for a ramp this week but the Bernanke surprised me (you not as much). Looking forward to what you have, I'd of thought if there's any decent dip there'll be some selling to cover margin. PMs have pressure on both sides. 

Never a dull moment. 

Thu, 05/23/2013 - 06:41 | 3591262 smlbizman
smlbizman's picture

it looks to me that they are just filling gaps.....dont gaps always get filled?

Thu, 05/23/2013 - 08:00 | 3591423 Alexandre Stavisky
Alexandre Stavisky's picture

Reduced shields in order to EMP the hull to shed all the galactic barnacles.  What's that, cannot restore power?  Uh oh.

Kabushiki tsuiraku wa motto kihonteki kusari o arawasu.  yasu en, kabu taka no michi wa anzen ja nai.

Thu, 05/23/2013 - 02:20 | 3591034 fourchan
fourchan's picture

buy the dip? 

Thu, 05/23/2013 - 04:57 | 3591166 Bearwagon
Bearwagon's picture

The DAX and the SMI are heading down and could probably take the Dumb Jones with 'em. US employment data should bring an upward turn. So hurry, if you wanna BTFD and STFR EOD, I'd say. But that's just my two cents ...

Thu, 05/23/2013 - 05:33 | 3591200 malikai
malikai's picture

You still have two cents left?

Thu, 05/23/2013 - 08:27 | 3591523 Bearwagon
Bearwagon's picture

Imagine ... they are made of gold ...   ;-)

Thu, 05/23/2013 - 06:15 | 3591231 fonzannoon
fonzannoon's picture

I am listening to Joe Kernen congratulate Japan on getting to 1% inflation.

Thu, 05/23/2013 - 06:37 | 3591259 smlbizman
smlbizman's picture

its really hard to tell who the biggest pos is on that set ......you can tell how kernen thinks , when you listen to his indoctrinated daughter....they are  as stupid as they appear...

Thu, 05/23/2013 - 01:19 | 3590920 Pool Shark
Pool Shark's picture

 

 

Currently at new low: 14,926...

 

 

Thu, 05/23/2013 - 01:21 | 3590924 The Shootist
The Shootist's picture

Thanks for the "real time". Double-dipping they are.

Thu, 05/23/2013 - 01:23 | 3590926 Pool Shark
Pool Shark's picture

 

 

Real time ticker for all the major indices:

http://www.sgxniftydowfutureslive.com/index_files/DOWFUTURES.htm

Thu, 05/23/2013 - 02:13 | 3591022 Dr o love
Dr o love's picture

So sawwy, gwasshoppaw, but those awe not live qwotes.

Thu, 05/23/2013 - 01:27 | 3590931 DeadFred
DeadFred's picture

Put the thing out of it's misery and close early. Then call up Obama for a way to spin it so it really wasn't an early close and if it was I didn't know because I was asleep.

Thu, 05/23/2013 - 02:44 | 3591077 sodbuster
sodbuster's picture

Obama won't know anything- this is BAD stuff. He only knows about GOOD stuff!!

Thu, 05/23/2013 - 06:24 | 3591244 constantine
constantine's picture

Clearly this forced selling of Japanese assets was due to hedge fund margin calls on their gold positions... Where's my job as a mainstream analyst?

Thu, 05/23/2013 - 01:27 | 3590933 hmmmstrange
hmmmstrange's picture

14813

Thu, 05/23/2013 - 01:37 | 3590949 James_Cole
James_Cole's picture

Wooooooowwww this is ugly! 

Freefall, broke 14700

Gunna need a bigger helicopter!

Thu, 05/23/2013 - 01:40 | 3590962 hmmmstrange
hmmmstrange's picture

just halted!

Thu, 05/23/2013 - 01:42 | 3590969 The Shootist
The Shootist's picture

Pussies. Fuck 'em.

Thu, 05/23/2013 - 02:03 | 3590977 James_Cole
James_Cole's picture

The cavalry has arrived, phew. Close one. 

Scratch that, back to freefall. Where's the power cable for this thing? Can't they just unplug it?

14500.  

Thu, 05/23/2013 - 01:03 | 3590892 Scro
Scro's picture

Long weekend...bank holiday?

Thu, 05/23/2013 - 06:54 | 3591287 max2205
max2205's picture

Fib retrace...wsit for the big one

Thu, 05/23/2013 - 01:44 | 3590974 ultimate warrior
ultimate warrior's picture

BOJ needs to obviously print MOAAR

 

Thu, 05/23/2013 - 02:10 | 3591015 williambanzai7
williambanzai7's picture

THE CRISIS IS OVER 7

Thu, 05/23/2013 - 02:14 | 3591024 suteibu
suteibu's picture

That's funny.  I like this one, too

Hello Abe

Thu, 05/23/2013 - 05:43 | 3591212 williambanzai7
williambanzai7's picture

If you are familiar with Japanese urban style, you will recognise this as being very appropriate. ;-)

Thu, 05/23/2013 - 08:47 | 3591597 suteibu
suteibu's picture

I own that outfit.  Except for the hat...

...and the goofy expression.

Thu, 05/23/2013 - 05:01 | 3591168 torak
torak's picture

So how does injecting Monopoly money into the system help a damn thing. 

Look out below!

I'm waiting for volicity -- i.e., mass panic.

Thu, 05/23/2013 - 00:35 | 3590833 realtick
realtick's picture

deflating fast

Thu, 05/23/2013 - 00:36 | 3590836 infiniti
infiniti's picture

Going long. Who's with me?

Thu, 05/23/2013 - 00:52 | 3590867 Hopium Dealer
Hopium Dealer's picture

MillionDollarBonus, probably.

Thu, 05/23/2013 - 01:09 | 3590908 infiniti
infiniti's picture

Come on guys... where's your sense of adventure!?

Thu, 05/23/2013 - 01:40 | 3590961 dtwn
dtwn's picture

No shit.  Trading these 'markets' is like that Seinfeld episode with Kramer test driving the car and seeing how far they can go on 'E':

http://www.youtube.com/watch?v=TuEdU_lrtZk

RICK: Is it just the angle I’m looking from? 

KRAMER: No, Sir. We are down there. 

RICK: Oh, this is amazing! Oh, I’ve never felt so alive! 

KRAMER: All right, I’m satisfied. We better get some gas. 

RICK: What? Well, we can’t stop now. 

KRAMER: What do you mean? 

RICK: We have to keep going - all the way back to the dealership. That was the plan. 

KRAMER: There was no plan. 

RICK: Well, let’s make it the plan! Let’s just… go for it! Like Thelma and Louise. 

KRAMER: What, they drove to a dealership? 

RICK: No, they drove off a cliff. 

(Kramer eyes Rick, frightened) 

KRAMER: You are one sick mama… I like it. 

Thu, 05/23/2013 - 02:31 | 3591049 Bring the Gold
Bring the Gold's picture

One of the best analogies ever LMFAO!

Thu, 05/23/2013 - 13:17 | 3592643 e-recep
e-recep's picture

yeah, that was a fucking good analogy.

Thu, 05/23/2013 - 00:37 | 3590838 FreeMktFisherMN
FreeMktFisherMN's picture

this is a big deal in my opinion. Might be an early call but it seemed like the euphoria on Bernanke's speech today was the 'blow-off top' that could be it for quite some time as now retracement begins in ES. 

Thu, 05/23/2013 - 00:39 | 3590845 ekm
ekm's picture

Jap gov decided not to buy.

Same with the Fed + Primary dealers taking orders from white house. It's a matter of government order, nothing to with central banks.

Thu, 05/23/2013 - 00:42 | 3590849 FreeMktFisherMN
FreeMktFisherMN's picture

so you're saying don't read TOO much into this, then? I don't know. I have only really been following yen since the BOJ bazooka was fired. All of this is playing out as Austrian school says: huge dislocations/distortions in relative prices, huge malinvestments, and stagflation is here. Crude could still do well even with weak ES if euro does well. 

Thu, 05/23/2013 - 00:49 | 3590859 ekm
ekm's picture

What I am saying is that it is totally unpredictable because bonds and stocks are no longer a market. There is one owner, the govs.

 

Hence, the securities market has no more logic but it goes up or down simply by what Obama or Abe say.

Now we know obama has no clue, not sure for Abe.

Thu, 05/23/2013 - 00:53 | 3590869 FreeMktFisherMN
FreeMktFisherMN's picture

I think  the ones giving the orders go above Obama, but not sure. 

Thu, 05/23/2013 - 00:54 | 3590872 FreeMktFisherMN
FreeMktFisherMN's picture

VIX should be near 20s soon. 

Thu, 05/23/2013 - 01:49 | 3590881 Supernova Born
Supernova Born's picture

Mistakes were made.

Thu, 05/23/2013 - 02:01 | 3590997 BringOnTheAsteroid
BringOnTheAsteroid's picture

The title of the office of president should really be changed from "Commander In Chief" to "Public Speaker In Chief". 

John Kennedy and that generational speech on sending a man to the moon and returning him safely to earth.

Ronald Reagan and his timeless statement "Mr Gorbachov tear down that wall".

George W Bush and his . . . . er . . . . . um . . . . . . "Fool me once and sha, shame on y, shame on. Fool me once and you can't do it again" . . . . .

Barrack Obama and his "Yes we can" speech. Mind you comparing a perfectly crafted and word smithed speech from Obama to a patriotic, from the heart speech from Kennedy is like comparing Led Zepplin to the Spice Girls.

What was I talking about again, trying to think of a George W Bush speech really destroyed my train of thought.

 

Thu, 05/23/2013 - 04:02 | 3591133 ebear
ebear's picture

What was I talking about again, trying to think of a George W Bush speech really destroyed my train of thought.

in that case, this will really mess you up:

http://www.youtube.com/watch?v=XzrJwzYBUkU

Thu, 05/23/2013 - 02:01 | 3590998 BringOnTheAsteroid
BringOnTheAsteroid's picture

The title of the office of president should really be changed from "Commander In Chief" to "Public Speaker In Chief". 

John Kennedy and that generational speech on sending a man to the moon and returning him safely to earth.

Ronald Reagan and his timeless statement "Mr Gorbachov tear down that wall".

George W Bush and his . . . . er . . . . . um . . . . . . "Fool me once and sha, shame on y, shame on. Fool me once and you can't do it again" . . . . .

Barrack Obama and his "Yes we can" speech. Mind you comparing a perfectly crafted and word smithed speech from Obama to a patriotic, from the heart speech from Kennedy is like comparing Led Zepplin to the Spice Girls.

What was I talking about again, trying to think of a George W Bush speech really destroyed my train of thought.

 

Thu, 05/23/2013 - 09:12 | 3591664 FreeNewEnergy
FreeNewEnergy's picture

Dubya, always content with efficiency in his speeches (when he wasn't completely screwing up the language) is an easy one:

"MISSION ACCOMPLISHED!"

Complete with codpiece, pilot gear, cheering throngs, aircraft carrier and banner.

Thu, 05/23/2013 - 01:05 | 3590895 Manthong
Manthong's picture

"orders go above Obama," ...

Um.. so how many of us that have been executives can reconcile this with running the largest enterprise in the formerly free world? …

http://obamagolfcounter.com/

Thu, 05/23/2013 - 01:08 | 3590904 ekm
ekm's picture

It's a clear sign showing he's not leading and has given up even trying. He simply signs papers put on his desk.

His work day starts at 10am.

Thu, 05/23/2013 - 05:23 | 3591184 torak
torak's picture

When he is not on vacation playing golf. 

I don't know about you, but the average joe get between 2 to 4 weeks paid vacation, the the cost of the vacation is out of Average Joe's pocket. 

The Obama's?  How many million do you need to go on vacation multiple times a year.   Michelle needs 2.5 million just for her and the kids?  Talk about amoral individuals taking advantage of the tax payers money. 

How about staying in the White House and performing your job?  He's worse then monarchs or emporers.  I can only guess which he wants to be.

And don't give me the "race card".  I don't care if the family is black, white, yellow, or Teletubby purple.  Corruption is corruption.  It has nothing to do about skin color.

Thu, 05/23/2013 - 00:55 | 3590874 ekm
ekm's picture

Correct. Obama has absolutely no clue. But the gov is buying, that's why stocks and bonds up, the gov is buying.

there is no other influential buyer

Thu, 05/23/2013 - 00:57 | 3590878 FreeMktFisherMN
FreeMktFisherMN's picture

Tomorrow might be one of those days. Today was huge reversal.

Thu, 05/23/2013 - 01:02 | 3590889 ekm
ekm's picture

I think they'll let dow drop to at least 11k. It all depends on crude oil price

Thu, 05/23/2013 - 01:07 | 3590902 FreeMktFisherMN
FreeMktFisherMN's picture

Long UVXY and PSLV, then? 

Thu, 05/23/2013 - 01:08 | 3590905 FreeMktFisherMN
FreeMktFisherMN's picture

Looks like they stemmed the tide a bit in Japanese market, but that they had to inject yen should say a lot looking at it game theoretically. I'm tempted to just buy VXX and PSLV and walk away for a few months. 

Thu, 05/23/2013 - 01:09 | 3590909 FreeMktFisherMN
FreeMktFisherMN's picture

question is whether everything would get liquidated, including gold. From a trading perspective. Obviously buying phyzz is priority #1, but looking to profit off the volatility not a bad idea, either.

Thu, 05/23/2013 - 01:25 | 3590917 Manthong
Manthong's picture

Way more important than anything the  choomiester thinks is how GS, JPM and BoA/Merrill are positioned.

oh, and the pslv would be a hold to me.. and small position in vxx sounds good but I wouldn't jump until a 2x spike .

Thu, 05/23/2013 - 01:11 | 3590913 ekm
ekm's picture

It's no longer a market. They may change their mind on the way.

Everything is a crap shoot unless you are a house oversight committee member who knows in advance what's going to happen.

 

Only crude oil complicates things for them, only crude oil

Thu, 05/23/2013 - 01:32 | 3590943 CrashisOptimistic
CrashisOptimistic's picture

Bingo.

The one thing they cannot decree is joules out of the ground.  Fewer and fewer of them, which eventually will be acknowledged as the core reason for the disintegration.

Thu, 05/23/2013 - 02:37 | 3591061 Bring the Gold
Bring the Gold's picture

I've been with you since post one on this point Crash. In fact since 2003ish...

Thu, 05/23/2013 - 05:20 | 3591187 Bearwagon
Bearwagon's picture

How dare you questioning the coming "energy independance" of the homieland?  ;-)

Thu, 05/23/2013 - 01:36 | 3590948 Jack Burton
Jack Burton's picture

Bingo, Obama was a hand picked puppet. This man could not capture the White House without being cleared by the elties in Business and the Military. They knew Bush had popularity around 20% tops, they knew people would not vote in another Republican. Like hand picked Clinton, they found a compliant "bait and switch" candidate. Obama. Listen to Obama's campaign speeches, then watch how he governs as regards the empire, the police state and corporate interests.

Obama answers to the elite corporate ceo's and bankers. He also answers to Israel and their lobby.

I really never follow Japanese markets or economic policies. But they seem so manipulated that Bernanke must be jealous!

Thu, 05/23/2013 - 06:23 | 3591239 ross81
ross81's picture

BANG! Nail....on....head

Thu, 05/23/2013 - 00:47 | 3590853 bonzo112358
bonzo112358's picture

Really felt like it.  I've been short forever here and adding.  I puked up my HD short at $81 only to see it turn minutes later and finish under $80.  I should have pressed it and I didn't.  Months of conviction and I couldn't have puked it up much higher.  Still short spy and some other stuff but you hate to see something like that.  The Bernank gets an 'A' for flushing out the shorts and, as history will soon show, an 'F' for his little QE infinity experiment.

On another note, how nervous are people going to be over a 3 day weekend.  Think everyone will try to sell before then?

Thu, 05/23/2013 - 01:18 | 3590919 Freddie
Freddie's picture

HD is at $81.  I looked at the chart. Insane.   SPY is isnane as well plus many others.

Thu, 05/23/2013 - 01:27 | 3590934 disabledvet
disabledvet's picture

i don't finish some of my sentences because "you have to KNOW history" as well. Wall Street was integral in creating the Weimar inflation...ironic if you consider the fact that it led to Hitler and World War II and the destruction of democracy then...let alone the Great Depression. My suspicion this time was "2.0 Weimar." of course the annihilation of Germany then led to the 20's in the USA. the ROARING twenties. i say again...BE CAREFUL with your shorts. the clowns on this site still don't understand the power of the paper...and yet trillions of that paper sits in storage in the form of oil and natural gas "banks."

Thu, 05/23/2013 - 01:13 | 3590914 DeadFred
DeadFred's picture

You talk about the euphoria but the tonight the MSM types are saying Bernanke's remarks 'spooked' the market. LOL I wonder if they use a ouija board or a Magic 8 Ball to assign reasons for market moves. How Bernanke's non-remarks today could set off moves like this is absurd. If it continues to drop it's because someone decided that <now> is the optimum time for the dump part of the classic pump-N-dump. When it rises on air it can drop on air as well. Still it was a very pretty top wasn't it?

Thu, 05/23/2013 - 00:37 | 3590839 CClarity
CClarity's picture

Told ya.  JGB and Nikkei drop ala UST and S&P  it is becoming unhinged and it's gonna go crazy soon.  All the "correlations" that were manipulated will fall apart, and all the derivatives built on them will go nuts on the unwind.  Rememeber, this is an upside down pyramid.  So many constructs based on very few real underlying assets.  

The whoosh will take the oxygen out of the room.

Thu, 05/23/2013 - 00:59 | 3590879 Spitzer
Spitzer's picture

Will japan sell US debt to cover their shortfall ?

That is the problem with Bass. He thinks US rates will fall further when Japan blows up. But how does that work when Japan is one of the US's biggest legit creditors ?

 

It doesnt

Thu, 05/23/2013 - 07:27 | 3591353 gatorengineer
gatorengineer's picture

It works because other money, Russian, Middleastern, Chinese, will all flock to the Worlds reserve currency......  Japans out and blow-up will scare the shit out of alot of whales, influx to US greater than outflux.

Thu, 05/23/2013 - 07:27 | 3591354 gatorengineer
gatorengineer's picture

It works because other money, Russian, Middleastern, Chinese, will all flock to the Worlds reserve currency......  Japans out and blow-up will scare the shit out of alot of whales, influx to US greater than outflux.

Thu, 05/23/2013 - 02:39 | 3591067 Bring the Gold
Bring the Gold's picture

Exeter's pyramid for the win. #Gotgold?

Thu, 05/23/2013 - 00:41 | 3590846 ABG LINE
ABG LINE's picture

It's called a "Printer". Now BTFD.

Thu, 05/23/2013 - 00:43 | 3590848 Mine Is Bigger
Mine Is Bigger's picture

BOJ is going to step in and buy index-linked ETFs.  Bastards!  What's money to them?  If you can just issue it, it's not at all valuable to you.  So, even the price halves, it won't really matter to them.

Thu, 05/23/2013 - 01:39 | 3590959 Jack Burton
Jack Burton's picture

Isn't it true that the Japanese markets are not really up that much adjusted for the devaluation of the yen??? Printing has a cost, the inflation is appearing in the stock index, also in food and fuel for average Japanese. Their policy of printing can't end well.

Thu, 05/23/2013 - 00:42 | 3590850 Honest_Money
Honest_Money's picture

Next move in QE is up.  Need MOAR!

Thu, 05/23/2013 - 00:44 | 3590851 Yen Cross
Yen Cross's picture

    Alright, who forgot to lock Godzillas cage?

Thu, 05/23/2013 - 00:49 | 3590858 ChaosEquilibrium
ChaosEquilibrium's picture

2 HUGE moves DOWN...waiting for the 3rd!.......Goldman getting OUT?:)

Thu, 05/23/2013 - 07:28 | 3591358 gatorengineer
gatorengineer's picture

Japan retraced a weeks worth of gains, same with Euroland, nothing more.... YET.....

Thu, 05/23/2013 - 00:51 | 3590860 Divine Wind
Divine Wind's picture

 

 

"A Japanese man walked into the currency exchange in New York City with 5000 yen and walked out with $48. The following week, he walked in with another 5000 yen, and was handed $40. He asked the teller why he got less money that week than the previous week. The teller said, "Fluctuations."

The Japanese man stormed out, and just before slamming the door, turned around and shouted, "Fruc you Amelicans, too!"

Thu, 05/23/2013 - 01:21 | 3590923 alphamentalist
alphamentalist's picture

a timeress crassic

Thu, 05/23/2013 - 03:29 | 3591109 Midas
Midas's picture

I'm not sure these comments are in-line with the new ZeroHedge "Care-Bear" Policy.  +1 anyway.

Thu, 05/23/2013 - 13:28 | 3592705 e-recep
e-recep's picture

make no mistake, that particular policy protects only a particular group of people.

Thu, 05/23/2013 - 08:10 | 3591461 Alexandre Stavisky
Alexandre Stavisky's picture

"The teller asked, are the funds for supplies"  Hai! said the Japanese man.  Tomorrow ashita you be rearry supplies'd at grobal marklets.

Thu, 05/23/2013 - 00:51 | 3590863 Cman5000
Cman5000's picture

I hope this is it let's get this party started about time ?

Thu, 05/23/2013 - 02:44 | 3591076 Bring the Gold
Bring the Gold's picture

Very well done Uber...you can't make it up and yet they do. Symbolism, wrapped in an enigma hidden in a giant steaming pile of hubristic stupidity.

Thu, 05/23/2013 - 00:54 | 3590871 Bansters-in-my-...
Bansters-in-my- feces's picture

Moar cowbell...!!!

Thu, 05/23/2013 - 00:57 | 3590877 suteibu
suteibu's picture

According to Nikkei.com, it's only profit-taking.

"Asian stocks fell across the board after HSBC Holdings Plc of the U.K. released a China's purchasing managers' index showing that the gauge had slipped below the boom-or-bust threshold of 50. This prompted investors to sell Japanese stocks to lock in recent gains."

Thu, 05/23/2013 - 00:59 | 3590882 chump666
chump666's picture

Japan take-down on stocks now. http://www.zerohedge.com/news/2013-05-22/japanese-bond-market-halted-ope...

Awesome play, now hedge funds will cover shorts, bid YEN.  Abe just got served as Japan pension funds run for cover and Japan banks will start to crack on bonds = Japan will go into an all out panic

Kinda speechless, but I 100% commend China for this near perfect economic attack.

Thu, 05/23/2013 - 02:49 | 3591080 Bring the Gold
Bring the Gold's picture

Wow incredible call...if you are right and it is China this might kick off much bigger things...

Thu, 05/23/2013 - 03:24 | 3591105 chump666
chump666's picture

Thanks. I was like yeah bonds first, stocks later.  But the stock beat-down was almsot mins after the bond volatility. BoJ was scrambling.  I say China, only because the last Japan bond volatility was also well timed, plus they, China, bought a load of Japan bonds last year and this year.  Also everyone on the planet knows Japan has a stock bubble, but start of trading, there were huge stock buy-ups of foreign stock buyers.

China hates Japan, that is obvious.  What better way to make Abe, BoJ look ridicules is mess with their bonds (sitting in Japan banks) and stock markets (owned by pensions finds and bought by the BoJ).

I have no love for commie China, but sh*t they wrote the Art of War and Book of Qi.  Respect due. 

Thu, 05/23/2013 - 01:01 | 3590885 PAWNMAN
PAWNMAN's picture

There went all that "taper" talk right out the window. Can't wait to hear the talking heads on CNBS spin this as the long awaited "healthy correction" Wall Street has been predicting! This could be one hell of a buying oppurtunity to BTFD! MOAR!!!! 

Thu, 05/23/2013 - 01:37 | 3590955 disabledvet
disabledvet's picture

here in the USA? "we have a recovery underway." a very good one actually. "but these animal instincts can be trained in other ways as well." obviously this will take out a massive purchaser of treasuries...good thing we had good...indeed GREAT crisis management skills "back in the day" (2008). something tells me "the phone is ringing again."

Thu, 05/23/2013 - 01:01 | 3590887 Kreditanstalt
Kreditanstalt's picture

Cue the selling of naked short paper gold futures.

Thu, 05/23/2013 - 01:03 | 3590891 ChaosEquilibrium
ChaosEquilibrium's picture

''recent gains'.....like 3 hours ago?:)  Profit-taking in a 'BUBBBBLE' is a CRASH!!!:)  I think I will hang around...take in the EOD Nikkei.

Thu, 05/23/2013 - 01:06 | 3590897 chump666
chump666's picture

We are not short though, here come the ECB/BoJ/Fed EUR plays.  They get this over 1.30, stocks will go green.

DXY went neg.

 

Thu, 05/23/2013 - 01:29 | 3590935 suteibu
suteibu's picture

The plunge continues, now below 14,900.

Thu, 05/23/2013 - 01:32 | 3590938 The Shootist
The Shootist's picture

Low of 14775.

Thu, 05/23/2013 - 01:35 | 3590946 suteibu
suteibu's picture

I was just going to post that.  It is happening fast.

Thu, 05/23/2013 - 01:36 | 3590951 suteibu
suteibu's picture

14,760

Thu, 05/23/2013 - 01:36 | 3590954 suteibu
suteibu's picture

14,732

Thu, 05/23/2013 - 01:37 | 3590956 suteibu
suteibu's picture

14,700

Thu, 05/23/2013 - 01:38 | 3590958 suteibu
suteibu's picture

A fucking freefall.  14,690 with 23 minutes left in the session.

Thu, 05/23/2013 - 01:42 | 3590970 suteibu
suteibu's picture

Low of 14,682 and recovering a bit now

Thu, 05/23/2013 - 01:49 | 3590979 suteibu
suteibu's picture

Apparently someone is buying the fucking dip.  The market is moving back to 15,000.

Thu, 05/23/2013 - 01:51 | 3590982 chump666
chump666's picture

Watch those printing presses.  DXY neg, if it clears 10% neg and EUR goes bid over 1.30...that and we need at least 2% neg on the Dow and S&P.

But a fascinating two prong beat-down on Japan bonds and stocks.

BoJ may try and draw a line at 5% neg, but since foreign holdings of Japan stocks revved up in the last week.  Should break.  If yields blow out in Japan now, so will CDS spreads.  Japan could could cave in hard.

Bets on capitulation point at 14000?  It will destroy their pension funds

Thu, 05/23/2013 - 01:53 | 3590985 suteibu
suteibu's picture

Yeah...there doesn't seem to be the spirit needed to climb back to 15,000.  Back to 14,700 and falling.

As for fascinating, it is like watching a multicar pileup.  It's horrible but you can't stop watching.

Thu, 05/23/2013 - 01:55 | 3590991 suteibu
suteibu's picture

Looks to close at the low of the day.  14,679 now

Thu, 05/23/2013 - 01:58 | 3590995 suteibu
suteibu's picture

14, 655.  Capitulation at 14,000?  Abe/Kuroda is fortunate that the market closes in 3 minutes or they might see 14,000 today.

Thu, 05/23/2013 - 02:05 | 3591004 suteibu
suteibu's picture

Close at 14,483.98 erasing nearly two weeks of increases (intraday May 10), a stunning drop of 1458.62 fropm the intraday high.

Thu, 05/23/2013 - 02:05 | 3591008 The Shootist
The Shootist's picture

They made 7%?! Good game lads!

Thu, 05/23/2013 - 01:38 | 3590957 The Shootist
The Shootist's picture

Moar whale-bell!

Thu, 05/23/2013 - 01:31 | 3590937 lolmao500
lolmao500's picture

FINALLY!! PLEASE! CRASH THIS WHOLE WORLDWIDE SCAM!!

Thu, 05/23/2013 - 01:39 | 3590960 disabledvet
disabledvet's picture

it's not a crash...it's an INFLATION. "from zero to a 1000" in less than a second.

Thu, 05/23/2013 - 01:39 | 3590940 PootieTang
PootieTang's picture

Abe must be shatting his pants right about now.  Abe and his fucking 'nomics can go to hell.

 

This is going to be fun to watch now that I loaded up on some more gold and silver coins on the recent dip.

 

 

Thu, 05/23/2013 - 01:32 | 3590941 AndrewJackson
AndrewJackson's picture

Even though it will create a shit storm, when these statist central bank controlled economies fall, I will celebrate the destruction and the undoing of their corrupt ways.

Thu, 05/23/2013 - 01:35 | 3590947 Mr. Saxby
Mr. Saxby's picture

So I guess we can expect a 5% ramp of the SP later today?

Thu, 05/23/2013 - 01:41 | 3590966 Jack Burton
Jack Burton's picture

Agreed, absolutely Bullish for S&P. 

Thu, 05/23/2013 - 01:37 | 3590952 Yen Cross
Yen Cross's picture

      It's only a flesh wound.                                                                                                                                                    Japan NI225    14,776.50    15,627.26    15,986.00    14,766.50   [ -850.76]    -5.44%   

 

J              
Thu, 05/23/2013 - 01:36 | 3590953 PootieTang
PootieTang's picture

Oh shit.  Nikkei 225 has plunged over 1200 points from the high.  TIMBERRRRRRRRRRRRRRRRRRR

Thu, 05/23/2013 - 01:42 | 3590967 Jack Burton
Jack Burton's picture

Who is selling? Everybody? Who is putting in bids, the government?

Thu, 05/23/2013 - 01:40 | 3590963 lolmao500
lolmao500's picture

Now if the DOW Jones could do the same thing and destroy Bernanke, Obama, Geithner, MSM and Krugman's credibility forever, that would be nice, thanks.

Thu, 05/23/2013 - 02:41 | 3591072 Nue
Nue's picture

It is impossible for Paul Krugman to be wrongs. If the DOW drops 1000+ points it just proves he's right that the QE is not big enough. His ideas are rather ingenious when you think about them. If it does not work it just needs to be bigger and if that doesn't work it needs to be bigger and if that doesn't work it needs to be bigger and if that doesn't work it needs to be bigger and if that doesn't work it needs to be bigger and if that doesn't work it needs to be bigger and if that doesn't work it needs to be bigger and if that doesn't work it needs to be bigger and if that doesn't work it needs to be bigger and if that doesn't work it needs to be bigger and if that doesn't work it needs to be bigger and if that doesn't work it needs to be bigger and if that doesn't work it needs to be bigger and if that doesn't work it needs to be bigger and if that doesn't work it needs to be bigger and if that doesn't work it needs to be bigger and if that doesn't work it needs to be bigger and if that doesn't work it needs to be bigger and if that doesn't work it needs to be bigger and if that doesn't work it needs to be bigger and if that doesn't work it needs to be bigger and if that doesn't work it needs to be bigger and if that doesn't work it needs to be bigger and if that doesn't work it needs to be bigger and if that doesn't work it needs to be bigger and if that doesn't work it needs to be bigger and if that doesn't work it needs to be bigger and if that doesn't work it needs to be bigger and if that doesn't work it needs to be bigger and if that doesn't work it needs to be bigger and if that doesn't work it needs to be bigger and if that doesn't work it needs to be bigger and if that doesn't work it needs to be bigger and if that doesn't work it needs to be bigger and if that doesn't work it needs to be bigger and if that doesn't work it needs to be bigger and if that doesn't work it needs to be bigger and if that doesn't work it needs to be bigger and if that doesn't work it needs to be bigger and if that doesn't work it needs to be bigger and if that doesn't work it needs to be bigger and if that doesn't work it needs to be bigger and if that doesn't work it needs to be bigger and if that doesn't work it needs to be bigger and if that doesn't work it needs to be bigger and if that doesn't work it needs to be bigger and if that doesn't work it needs to be bigger and if that doesn't work it needs to be bigger and if that doesn't work it needs to be bigger and if that doesn't work it needs to be bigger and if that doesn't work it needs to be bigger and if that doesn't work it needs to be bigger and if that doesn't work it needs to be bigger and if that doesn't work it needs to be bigger and if that doesn't work it needs to be bigger and if that doesn't work it needs to be bigger and if that doesn't work it needs to be bigger and if that doesn't work it needs to be bigger and if that doesn't work it needs to be bigger and if that doesn't work it needs to be bigger and if that doesn't work it needs to be bigger and if that doesn't work it needs to be bigger and if that doesn't work it needs to be bigger and if that doesn't work it needs to be bigger and if that doesn't work it needs to be bigger

Thu, 05/23/2013 - 02:52 | 3591082 Bring the Gold
Bring the Gold's picture

I see where you're going with that...it's turtles all the way down!

Thu, 05/23/2013 - 03:11 | 3591094 Herd Redirectio...
Herd Redirection Committee's picture

The definition of idiocy is repeating the same action and expecting a different result.

Thu, 05/23/2013 - 04:02 | 3591132 BringOnTheAsteroid
BringOnTheAsteroid's picture

I must be tired, I think I read about three quarters of that post before I realised you were repeating yourself. Either that or I'm in a state of shock due to the Nikkei going down.

Thu, 05/23/2013 - 01:43 | 3590972 newengland
newengland's picture

Kyle Bass was right.

Thu, 05/23/2013 - 02:07 | 3591009 Jack Burton
Jack Burton's picture

You know, I heard Kyle Bass call this and I heard so many people ripping him a new asshole, calling him an idiot. I always liked Kyle, I was wondering if he had called Japan wrong. Now I wonder, was he really right.

 

Thu, 05/23/2013 - 12:59 | 3592561 resurger
resurger's picture

The turth is always right

Thu, 05/23/2013 - 02:17 | 3591029 lesamourai
lesamourai's picture

If we had Kyle Bass' money, cojones and market positions, we'd be heading out for a pretty good night tonight...

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