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Despite 'Promises', Japanese Market Chaos Continues

Tyler Durden's picture


UPDATE 1: Japanese stocks turned negative (NKY -600pts from highs, -1.5% on day; and TOPIX down over 4% from highs); Japanese banks -11% from yesterday highs; S&P futures down 10 points from after-hours highs...

UPDATE 2: *KURODA WANTS TO AVOID INCREASING VOLATILITY IN BOND MARKET (yeah thanks... as useful as saying "we all want to avoid syphilis") 

UPDATE 3: Nikkei 225 Drops below 14,000 - TOPIX down 11% from highs

For the second day in a row, and in spite of comments from Abe and Kuroda on communicating with the market (as Kuroda says BoJ Monetary easing sufficient), Japanese capital markets are out of control.

JPY, after weakening 150 pips from early this morning and breaking back over 102.50 has just given 100 pips back in matter of minutes and is now trading stronger vs the USD on the Japanese session. Japanese stocks have cliff-dived with the NKY dropping 400 points in minutes and TOPIX over 1.5%. JGB futures (prices not yields) have surged back higher to trade unchanged on the day as the correlation we noted earlier - and believe is now critical - has held between an out of control bond market and any further sustainable gains in stocks.

This is not good... as if the JPY carry trade implodes (driven quite simply by a total lack of reward-to-risk given the volatility in the carry currency and loan rates themselves) then what happens to all the levered longs in European peripheral bonds and any number of the 'most-shorted' companies in the US... It seems clear that this is all an experiment to see how markets react - the answer - not well!




30 minutes later...


Where's Maria B and the 'Buy on the dip mentailty' when we need her?

When is Tuesday already??


This seemed to sum it up nicely:



Charts: Bloomberg


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Fri, 05/24/2013 - 00:19 | 3594841 chump666
chump666's picture

This is beautiful to watch:

10-yr JGBs to 0.845%

Here comes the stock dump again

Fri, 05/24/2013 - 00:27 | 3594870 Gidas19
Gidas19's picture

"Please do not worry" some smart official said. Great buying opportunity here...

Fri, 05/24/2013 - 00:38 | 3594893 Arius
Arius's picture

BOJ lacks communication skills .. thats the problem.

Fri, 05/24/2013 - 01:04 | 3594967 CvlDobd
CvlDobd's picture

It's starting to look like a summer swoon where being a ZH'er is fun!

Fri, 05/24/2013 - 01:18 | 3594988 Cdad
Cdad's picture

LOL...with Nikkei futures down 4%, FT tweets:  "Nikkei recovers as investors pile back in"

Truly the desperation phase of globally interconnected, central bank jawboned pachinko machine "markets".

Fri, 05/24/2013 - 01:37 | 3595020 James_Cole
James_Cole's picture

LOL...with Nikkei futures down 4%, FT tweets:  "Nikkei recovers as investors pile back in"

Technically they're sort of correct. Who's piling back in is the question though..

The Nikkei 225 initially recovered some poise on Friday morning, erasing about one-third of the 7.3 per cent of losses suffered during the worst daily rout in more than two years on Thursday.

Fri, 05/24/2013 - 03:02 | 3595106 Ahmeexnal
Ahmeexnal's picture

So all the muppets who cackled at cocktail parties about how they would become billionaires by going long the Nikkei and short the JPY are suddenly going broke. Let them eat shit.

Fri, 05/24/2013 - 03:21 | 3595119 Arius
Arius's picture

i have a suspicion it is the same people who are SHORT MINERS ... this party is just getting starting... Soros will prove to be right again!


Fri, 05/24/2013 - 05:46 | 3595198 London Banker
London Banker's picture

Soros once said, "When I want to sell $1 billion, I start by buying $50 million."  If he has publicly said he is buying miners, you can bet that behind the scenes he is offloading them by the cartful.  Remember in January when he puffed gold, and how his most recent filing shows him unloading it into the bull market that followed? 


Fri, 05/24/2013 - 06:41 | 3595224 Arius
Arius's picture

Yes, thats exactly the point.  Publicly he said he is selling gold (GLD); the buying of call options on Junior miners was disclosed with quarterly filings (no word at all).  Below is a link analyzing Soros actions by someone smarter than me.  Just note, we are living in very unsual times, at such times one needs to really follow the smart money who have the inside clue:

Fri, 05/24/2013 - 06:51 | 3595229 malikai
malikai's picture

I wonder what the guy in the JGB ad with all the cash and chicks is doing right now.

Fri, 05/24/2013 - 06:56 | 3595238 Surly Bear
Surly Bear's picture

"we all want to avoid syphilis"

Hell, I'd like to avoid it, if possible....

Fri, 05/24/2013 - 01:38 | 3595026 Meat Hammer
Meat Hammer's picture

(yeah thanks... as useful as saying "we all want to avoid syphilis") 


HA!  Brevity is the soul of wit.

Fri, 05/24/2013 - 03:07 | 3595111 Lore
Lore's picture

Re: BOJ lacks communication skills

"What we've got here... Is a failure to communicate."

Fri, 05/24/2013 - 03:24 | 3595122 Arius
Arius's picture

ha ha ...

Fri, 05/24/2013 - 00:54 | 3594940 Sylvia Plath
Sylvia Plath's picture

At least the JGB's are stable... My Kuroda!

Fri, 05/24/2013 - 09:37 | 3595614 caconhma
caconhma's picture

The situation is quite clear: the USA are destroing one more currency that was competing with US$. At the same time, Jap government and JCB are also ruining the entire economy.


China must be very happy since Jap become very dependant on China trade.

Fri, 05/24/2013 - 00:55 | 3594942 CheapBastard
CheapBastard's picture

"7 Ways to Stay Calm in a Stressful Situation"




1. I denitfy the casue of your stress;

2. choose response;

3.Take action;

4.Make a plan;.......and so on.....................then...........

.... run like Hell!


Fri, 05/24/2013 - 03:26 | 3595123 Arius
Arius's picture

Wait ... what about the BAG ???

Fri, 05/24/2013 - 04:54 | 3595172 Colonel Klink
Colonel Klink's picture

You leave the person standing still with it.

Fri, 05/24/2013 - 01:11 | 3594982 alphamentalist
alphamentalist's picture

If JGBs get back to 1% I will be sorely tempted to load up.

Hey, MoF, tell me again how many birds I can pull by being long your shite paper?

Fri, 05/24/2013 - 00:19 | 3594843 electricgorilla
electricgorilla's picture


Fri, 05/24/2013 - 00:23 | 3594844 ekm
ekm's picture

Nippon plunge protection team is inexperienced.

Once enough experience is gathered, they'll do well.


I'm sure US's plunge protection team will train them properly

Fri, 05/24/2013 - 00:26 | 3594864 francis_sawyer
francis_sawyer's picture




Fri, 05/24/2013 - 02:01 | 3595057 Political_Savage
Political_Savage's picture

Hi Francis... I'm stalking you
You're funny... And anti-Semitic

Fri, 05/24/2013 - 05:37 | 3595194 Disenchanted
Disenchanted's picture

I thought "it was just a religion."

What does semitic(pro or anti) have to do with religion?


Especially a religion allegedly practiced by Caucasian Khazarians...


How important, in quantitative terms, is that “presence” of the Caucasian sons of Japheth in the tents of Shem? One of the most radical propounders of the hypothesis concerning the Khazar origins of Jewry is the Professor of Mediaeval Jewish History at Tel Aviv University, A. N. Poliak. His book Khazaria (in Hebrew) was published in 1944 in Tel Aviv, and a second edition in 1951.[5]

In his introduction he writes that the facts demand — a new approach, both to the problem of the relations between the Khazar Jewry and other Jewish communities, and to the question of how far we can go in regarding this [Khazar] Jewry as the nucleus of the large Jewish settlement in EasternEurope. … The descendants of this settlement — those who stayed where they were, those who emigrated to the United States and to other countries, and those who went to Israel — constitute now the large majority of world Jewry.


This was written before the full extent of the holocaust was known, but that does not alter the fact that the large majority of surviving Jews in the world is of Eastern European — and thus perhaps mainly of Khazar — origin. If so, this would mean that their ancestors came not from the Jordan but from the Volga, not from Canaan but from the Caucasus, once believed to be the cradle of the Aryan race; and that genetically they are more closely related to the Hun, Uigur and Magyar tribes than to the seed of Abraham, Isaac and Jacob. Should this turn out to be the case, then the term “anti-Semitism” would become void of meaning, based on a misapprehension shared by both the killers and their victims. The story of the Khazar Empire, as it slowly emerges from the past, begins to look like the most cruel hoax which history has ever perpetrated.


Yup, I'm gonna keep beating this horse.

Fri, 05/24/2013 - 06:57 | 3595237 shovelhead
shovelhead's picture

You do understand the words hypothesis and fact are not synonymous?

As the lady would say, "Quelle surprise."

Fri, 05/24/2013 - 07:13 | 3595260 They trynna cat...
They trynna catch me ridin dirty's picture

I don't need a peer-reviewed journal to tell me that the Middle East desert landscape of 2,000 years ago was not populated by guys who look like Larry Summers.

Fri, 05/24/2013 - 07:39 | 3595302 Disenchanted
Disenchanted's picture

My own 'lying eyes' seem to support the hypothesis much more than your "fact."

Fri, 05/24/2013 - 07:08 | 3595254 They trynna cat...
They trynna catch me ridin dirty's picture

Gotta love the absurdity of being called "antisemitic" for criticizing the behavior of individuals who have little to no "Semitic" blood in them to begin with. These are the times we live in.

Fri, 05/24/2013 - 07:38 | 3595280 francis_sawyer
francis_sawyer's picture

@Political ^^^... Wanna go there?... I got shit to do today, but I'll play [for now]


Item #1: I've said a million times before... 'IT.HAS.NOTHING.TO.DO.WITH.RELIGION'... So for all you folks who blame f_s for beating a dead horse... It's really because all these other mf'ers can't get that idea through their dome.

Item #2: All I care about, relative to the topic, is free speech... If a person can make a rightful argument about something, which I've done 1000x [sticking to the 'asymmetry' aspect, which I don't need to articulate again, is easy to confirm, & has been uncontested, for 3 years now, on ZH]... If a person, therefore is making 'truthful' statements [with regards to the disposition of the asymmetry], then it should NOT be considered 'bashing' [or any other such perjorative]...

Item #2a: Notwithstanding 'Item 2'... I get sick & tired of efforts to cloud the distinction of any 'plural entity' who may be asymmetrically culpable... Let's call it what it is... 'DENIAL' [pure & simple]... The most recent policy maneuver by ZH [due to legal arm twisting] is a perfect example of this... Here's the logic stream...

1. The, now famous, Tyler comment, "Oh for fuck sake" [hereinafter referred to as, 'OFFS'], not only pointed directly at the culprits [probably a mistake out of exasperation], but identified the 'method'... [vis-a-vis 'lawsuits']

2. To that end, and to become 'in compliance', a notice had to be put up on the webpage... Note: the word 'compliance' is 100% coercive because there is no natural law that exists which limits free speech... It is only something latched onto by 'plural entities' who then use it to their tactical advantage [mostly banking, MSM, activism, & MSM]... When that pressure is applied, it achieves the desired result mainly to avoid the 'nuisance' factor which would otherwise complicate the lives of the accusees...

3. Furthermore, this maneuver had the effect of silencing an entire planet, solely based on the location of a webserver in a minute jurisdiction... [once again, asymmetric leverage applied]...

4. Now finally, let's get to the 'PLURAL ENTITY' in question... 'SomeBODY' [plural entity] went the distance to arrange this hassle... Just like 'money doesn't print itself from within limestone edifices', the paperwork [probably 'legal threats & such'] didn't just print itself up... I'm guessing, the 'Syrians' weren't responsible [hell ~ can't even get any internet out of there recently], might as well apply that to 99% of Islam as well... I'm guessing the NAACP isn't active in Switzerland... Doubt it was the Chinese or the Indians [where you've just wiped out half the worlds population right there]... Wasn't Castro... Probably wasn't even the LGBT [though no 'race' or 'religion' definitions could be applied there]... 'Luciferians'????... Ha! That's a good one... Show me where it is on the books in Swiss Law that 'protects' against discrimination towards 'Luciferians'...


I'm running out of ideas here...

Fri, 05/24/2013 - 07:49 | 3595313 Ghordius
Ghordius's picture

ok, ok, I get it, it has nothing with incitements to hate/persecute/misrepresent a religious group

now the next question: is it about hate/persecution/misrepresentation of a genetic group, also known as racism?

Swiss Law protects ALL groups from hate/persecution/misrepresentation on the ground that you can't make a group responsible for what single individuals out of this group do

the origins of this sentiment traduced into law (of course the PC harpies from the NW quadrant had some part in the pushing the Swiss into this) is the horror for this old germanic tribal legal principle called Sippenhaft - badly traduced in English as "kin's liability" and it's more global brother, the blood feud

now, I have been dragged into blood feuds and I don't think I hate anything more, but anyway, when you start with Khazarians, you are talking about a group (probably cultural or bloodgroup)

how big is this group? how do you define it? if you define it by blood or culture, how do you intend to differentiate between alleged active members in a conspiracy versus the non-active, and therefore innocent members of this group?

because if you don't, then it's you engaging in a criminal conspiracy, according to Swiss Law - and I can't blame them

Fri, 05/24/2013 - 08:01 | 3595333 Disenchanted
Disenchanted's picture

Is there a Swiss law about one group(lets say it's a 'chosen' group) misrepresenting themselves as being of another racial group? Because guess who it is that bandies the term 'antisemite' about the most...Next thing you know all of a sudden "it's only a religion." I believe that's called situational ethics.


Next of Kin ....bitchez.

Fri, 05/24/2013 - 08:15 | 3595350 Ghordius
Ghordius's picture

of course there are few organizations that are more annoying than those "Jewish Defense Leagues" assigning the label "antisemite" to people critizising one of their own - if this is what you are hinting to.

and there is nothing illegal in exposing the way they do it - at least in the land of the Swiss and in most of the eurozone

yet your argument is quite strange, to my old continental eyes. you seem to claim that they misrepresent their own ancestry. so what? where is the beef? would the praxis change in your eyes if they would swap the label to a more correct "persecutor of innocents through group association"?

because at the end here on this continent it boils down to the question: why do you incite against a whole group where innocents are mixed with criminals? Please differentiate

Fri, 05/24/2013 - 08:37 | 3595416 Disenchanted
Disenchanted's picture

re: "Please differentiate"

see below

Fri, 05/24/2013 - 08:04 | 3595338 Ghordius
Ghordius's picture

meanwhile to my possibly very ignorant eyes both "Luciferians" and "Khazarians" labels are used as code word for Jews

and the intent does not look like exposing a conspiracy of believers of Lucifer or of a group descending from Khazarians

in both cases they are groups, one of faith, the other of blood

if you find proof of individuals engaged in a criminal act that happen to be members of those groups, it's one thing, and a laudable one

if you are trying to expose the groups as being criminal, then what about their newborn? are they criminal, too? it's really that simple

do you have any idea how annoying it is to have someone that wants to kill you because of what your great-grandfather allegedly did before you were born? I do, and it sucks

Fri, 05/24/2013 - 08:31 | 3595391 i-dog
i-dog's picture


"to my possibly very ignorant eyes both "Luciferians" and "Khazarians" labels are used as code word for Jews"

In your case, esteemed Ghordius, I think "disingenuous" may be a better choice of words than "ignorant". But, in the case of the likes of 'Francis_Sawyer' and 'Freddie', I fear you are correct.

However, those of us who have studied the Luciferians ... aka Khazarians ... aka Jesuits and Talmudists ... know the very clear distinction between a "master race" and a religion.

And for the god-botherers reading this ... Luciferians are not the same as Satanists. Luciferians worship en-light-enment (ie. knowledge...rule by the "smartest guys in the room"), not some red-faced fellow with horns and a pitchfork!

Fri, 05/24/2013 - 08:50 | 3595465 Ghordius
Ghordius's picture

you catched me there. I'm somewhat fond of claiming ignorance as a imo polite way to encourage response

but I do claim honest ignorance about how you connect the groups. your meanwhile extensive database (I presume) is about individuals who use group affiliation for the advancement of their own cause and that of their allies. in my eyes, politics (which can extend into conspiracy and criminal acts), i.e. the normal behaviour of humans (at least of those aspiring to leadership)

I have ranted lately about putting too smart and industrious people into finance (which should be a boring place, imho), lately, but I can't find the link

what a strange feeling to be positively touched by your "esteemed" - I mean normally it would entail sarcasm, but I can't sense any

see you, esteemed resident Maremmano of ZH, gotta go

Fri, 05/24/2013 - 09:57 | 3595641 francis_sawyer
francis_sawyer's picture



Don't presume to speak for me on the subject of 'code words'...

If you & I & a coupla other gents sit down for a beer, we can discuss distinctions all night long... I'd consider it 'disingenous' to characterize the presumed value statements of 'OTHERS' on an internet blog... I said above... "I got shit to do"... I gotta do a 12 hour 'burnt ends' brisket for this weekend to serve a dozen family members [and all the other 'shit' that goes along with that]... Was a tablespoon short on the cayenne pepper on the rub mixture so I sent a page out to get some & have a minute here...

@Ghordius ~ I'm committing the sin that I chastized above [vis-a-vis 'presumptions']... But I think i-dog's avatar is 'Snoopy'... Snoopy is a BEAGLE, not a 'Maremanno'... I lived in Umbria for a dozen years & had a Maremmano for 7 of those years... That ain't no Maremanno...

Funny story about dogs & personalities... Maremanno puppies are normally placed with young lambs & other livestock to 'bond' [as they grow up to be 'protectors' of sheep, cattle, & fowl against wolves & other predators... However, I lived in the middle of an oak forest where there were cinchiale [wild boars]... They used to invade in and tear up my lawn... One day I woke up & the boars had shredded my lawn to pieces... So I walk outside & looked at my dog & pointed at the lawn as if to say 'WTF'... The tail went straight between the legs & he was sad for about two days... He was like... Goddammit ~ those things have razor teeth, tusks & weigh 2,000 pounds, what the hell am I supposed to do?... Poor guy... I forgave him...

Fri, 05/24/2013 - 12:20 | 3596109 Ghordius
Ghordius's picture

as often, it's a matter of breeding (Part 1): imo your poor maremmano was a victim of your lack of racism (LOL) ;-)

imo he was sad because you expected from him an attachment to your property or his territory - and he was bred, as you describe, for attachment to "family", i.e. living things - which might include sheep or whatever he was exposed to

nope, the avatar might look like Snoopy the beagle, but I'm quite sure that the true character-totem of i-dog is the maremmano

btw, I have incredible memories of an older, very experienced beast of that breed while hunting boars not far from where you lived

Fri, 05/24/2013 - 13:07 | 3596235 francis_sawyer
francis_sawyer's picture

Classic 'Charles Schultz' artwork depicts 'Snoopy' atop a doghouse... [often sleeping]...


My dog was a stray who'd been left on the side of the road... [that I took in]... Therefore ~ I don't know his 'puppyhood'... He was 'suspicious' of me for a few weeks but then it all flipped around... He used to bark like crazy at any white van [but otherwise was very normal & the best friend anyone could ever have]... He was even tolerant of the 'hunter's dogs'... The hunters came into the hills in the fall to shoot the wild boar... From late September thru December, all u could hear on weekends were echoes of hound dogs yapping & the occasional rifle shot... Probably about a lost hound every two weeks showed up on my doorstep... I'd telephone the owner who'd then come pick him up...

I had 'owls' too... There was a little covelet in my house [which was about a 300 year old stone structure] that, every May, the owls would use as a nesting place for their chicks... It must have been that way for decades & centuries... My dog used to actually help protect the chicks when they were ready to get going on their own...

Fri, 05/24/2013 - 10:12 | 3595680 tip e. canoe
tip e. canoe's picture

apologies for interjecting sir dawg, but perhaps the esteemed continental is not being disingenuous at all, but rather suggesting an alternative path to unlock the milleniums-old ghordian knot in which we silly monkeys continue to tangle ourselves?

even if your nose knows (and i have no doubt that its abilities at scent detection are nothing less than par excellence), does knowing the names of the Alphas (and their particular generational methods of operation to get to the Top of the Heap) only get us so far?   are we not still tangled in the same Knot of the same Great Game, only in a different section of the rope?    do not power-seeking individuals & groups thrive on attention regardless of the emotional quality (whether love, fear, hate or defiance)?   if so, aren't we all feeding into the energy vortex of which "They" occupy the center?

a few more interesting questions that i humbly hope one day the esteemed illumi-hedge will explore in greater depth (rather than being continually caught up in Their orbit) :  why do we need Alphas at all?   why are we all wasting our big brain space on their actions when we've already recognized that a society as so structured is incredibly dysfunctional, bordering on self-destructive?   what are the methods by which this Alpha problem can be dealt with once for all, so that it does not continue to repeat itself fractally through endless sadomasochistic cycles?

you've noted one many times (smaller is better or "small is beautiful" as Schumacher wrote).    maybe ghordy is hinting at another himself in his own enigmatic ignorant style.

a little bone to chew on from the lord of anus:

Fri, 05/24/2013 - 11:18 | 3595919 i-dog
i-dog's picture


"why do we need Alphas at all?"

It's not a question of whether we need them, Tippy ... we have them, like it or not. To attempt to "eradicate" them flies in the face of the diverse genetic makeup of all advanced organisms. So, the question really is: "How do we limit their scope?"

Some of us believe that such "limitation of scope" can be achieved by a social organisation that gives free rein to the alphas to dominate their own small group (to the extent that such small groups - whether family or community - will continue to tolerate them), while subjecting their pedagogery to voluntary competition from other outside groups. Further aggression would be dealt with by all sides holding weapons of mutual assured destruction.

Such a social organisation is often called "Voluntarism" (all interactions are voluntary), or "Anarcho-Capitalism" (ie. free market capitalism...without an 'archy' or overarching ruler).

Of course, such a social organisation could only function without a government (whether democracy, autocracy, monarchy, oligarchy or politburo) except where a governing body of limited scope was agreed between all the sovereign individuals in a limited geographic area for specific administrative purposes. All other services would be provided by contract between individuals and competing service providers.

The early American independent colonies essentially functioned in this way for 150 years, building roads and cities right up to and including the 'Declaration of Independence' and 'Articles of Confederation'. Townships could - and did...thereby changing the 'state' boundaries - change their affiliation from one State to another if they were not happy with the policies or demands of an autocratic state government.

This arrangement only fell apart through the connivance of an outside power that happened, at that very same time, to need a new home outside of Europe and therefore steered the Confederation to a hierarchical Federation - with the creation of a central federal government, which they [partially] controlled, embodied in the Constitution.

It is not too late to try again - even by just a few states or groupings of counties. The information age post the Technology Revolution gives us the tools.

The whole human race must 'grow up' and begin to act as consenting adults rather than as rock-throwing macaques!

The NWO is totally opposed to such freedom of action and wishes to revert to the social organisation of the Dark Ages - except that they plan to replace the emperors of old with a single central global politburo...the ULTIMATE ALPHA!!

Fri, 05/24/2013 - 11:36 | 3596013 tip e. canoe
tip e. canoe's picture

yes, thanks for clarifying: limitation of scope is a more accurate intention of the question.   i see i poked the right part of the sleeping dog's belly, most excellent response.     

a social organisation that gives free rein to the alphas to dominate their own small group (to the extent that such small groups - whether family or community - will continue to tolerate them)

consent is such an integral part to this, yes?   as far as i'm concerned, if folks want to organize themselves into a form run by an Alpha, more power to them.   but there needs to be an out for those who choose to seek another path, or one that isn't so buried in byzantine language and conjecture that noses that know dare not speak its Name.    live and let live, no?

time to grow up, indeed, especially when the tools are right there at our feet.    no need to waste time to repeat the same story again for the umpteenth time when we already know the end...and the beginning...and the end...

Fri, 05/24/2013 - 12:17 | 3596110 Ghordius
Ghordius's picture

as often, it's a matter of breeding (Part 2): interesting view. dogs are bred (part 1) and macaques have a complex sexual selection

we humans have broadly speaking two ways of sexual selection: the one where we force our females to comply with a political mate selection - which in turn makes societies stable, closed and stratified (think medieval times or castes in India) and the one where we leave them free to choose

both modes have alternated in history, though elites stick to the first more often than "the rest"

now what happens when females are free to choose? they generally (i.e. statistically) go straight into "Alpha Selection Mode". which makes societies more open, more fluid but also less stable. in sociology it's called Hypergamy. Women can't avoid being choosy (they are very limited and committed in their progeny), so they strive for the very best bargain

now the traits after which they select who is Alpha and who is not... depend in part from the society. interestingly power/status alone does not necessarily trigger selection, they might in cases even cause a marriage but not necessarily children from that husband

certain attitudes, particularly power-seeking, intelligence, defiant and outcome-indipendent insuociant bravery bordering to insanity, being able to generate attention (as you say) and a couple of other do (often) trigger sexual selection - even if they might cause dysfunctionality bordering on self-destruction of the single male or the society

this is one of the main reasons why societies very often go through cycles... and one loop of the Knot you call The Great Game

Fri, 05/24/2013 - 13:04 | 3596228 tip e. canoe
tip e. canoe's picture

ah yes, gordy, it's all about the heat baby!   

depend in part from the society : so interesting how biological responses are triggered through social norms.  like fear for instance.    also good to remember that these norms stem from ~5000 odd years of "patriarchal"-dominated societies.   not to say that matriarchal-dominated ones are any better -- there was probably good reason why they died out along the way.

nonetheless, have you ever heard of the Musuo tribe on Lugu Lake in China?    there's a bunch of good material on them online, but this will get ya started:

"Men and women are very much equals, but the women are just a little more in charge."

riddle me this one: what happens in the cycle of a society when a critical mass of its members discover that they are on a cycle?   and that there is a fork in the road up ahead where one path leads to another repeat of the same cycle and the other path leads to an as-yet-consciously undiscovered new cycle in a much larger spiral?

Fri, 05/24/2013 - 18:31 | 3597215 Ghordius
Ghordius's picture

:-) Did. It. Ever. Happen? Consciously? But, yes, it's a good riddle

Fri, 05/24/2013 - 08:34 | 3595404 Disenchanted
Disenchanted's picture

I think it's something like when the Illuminati infiltrated and corrupted Free Masonry. Not all Free Masons subscribe to the Illuminati agenda, and many are not even aware what did happen and what now happens at the top levels of Masonry. As I typed that I was thinking of my own first cousin who is a low level Mason.

In other words there's a global criminal syndicate that uses Judaism as a cover. The rest of the common Jewish folk are used as pawns by that syndicate. The problem is that many of those common folk(Gentiles as well) have bought into the myths and propaganda propagated by that syndicate.


btw 'Lucifer/Luciferians' could well be just another cover for something else...

Fri, 05/24/2013 - 08:50 | 3595443 i-dog
i-dog's picture


"'Lucifer/Luciferians' could well be just another cover for something else..."

No. They really do believe they are smarter (more "enlightened") than other races (and with fairly good historical reason, I might add*).

The successful cover has been in associating Lucifer ("light") with the Devil/Satan ("evil") ... causing believers of the mainstream religions to simply see them as heretics and kooks.


* That's another long story for another day

Fri, 05/24/2013 - 07:42 | 3595298 i-dog
i-dog's picture


"The story of the Khazar Empire, as it slowly emerges from the past"

And a LOT more has come out about the Khazars since that book was written. Modern genetics, DNA sequencing, linguistics, archaelogy and joining of dots takes the origin of the Khazars - and their invasion of the Middle East - back a long way further than that author did (and beginning long before the Jewish religion was created ... and a thousand miles further away from the Caucasus, to Khazakhstan ... oddly enough....).

Fri, 05/24/2013 - 07:48 | 3595310 francis_sawyer
francis_sawyer's picture

Notwithstanding the verity of the 'Khazar' story... When it comes to lawsuits which are brought forth to produce "nuisance factor"... I highly doubt that the PLAINTIFFS identify the 'plural entity' of their accusation of 'discrimination', as 'Khazars'... They'd probably get laughed out of court... Now... Put a different brand name on that & voila, you have a case...

An average Joe in the street wouldn't know a Khazar from a fucking Toucan while eating a bowl of Fruit Loops...

Fri, 05/24/2013 - 07:54 | 3595318 i-dog
i-dog's picture

While you may indeed be "an average joe", some of us wish to unmask the actual [two-sided] face behind the curtain.

But, by all means, continue diverting threads and avoiding the point. Carry on.

Fri, 05/24/2013 - 08:12 | 3595336 Disenchanted
Disenchanted's picture

I hear you i-dog, but is it really that big of a it a thousand miles across the Caspian sea?

Old Khazaria sat atop the Caspian and encompassed the east and west sides of the northern third of the Caspian...

Fri, 05/24/2013 - 08:21 | 3595368 i-dog
i-dog's picture

Indeed. Their root is in the Andronovo Culture in what is now northern Khazakhstan.

Waaaay back, around 2000BC, they invented the spoked-wheel war chariot and stormed on down into the Caucasus, Turkey, Canaan and Egypt. In Turkey, they were known as the Hittites. In Egypt, they were known as the Hyksos ("foreign rulers").

Much later, after being thrown out of Egypt, they were taken into captivity in Babylon - which is where they created the Jewish religion (probably as a means of keeping their people and bloodline together as "the chosen race", ready to return to "the promised land"). Much later, their fingerprints are all over the creation of both Christianity and Islam (as well as many more modern sects of the main religions). Divide and rule, bitchez!

Fri, 05/24/2013 - 00:37 | 3594892 nomorebuyins
nomorebuyins's picture

I think it's beyond a learning curve right now, their economy is so much smaller than the U.S., so these stunts will not prevent a collapse for as long as it will here. Popcorn time, the world is next.

Fri, 05/24/2013 - 00:40 | 3594895 ekm
ekm's picture

Something is telling me that since US President allowed one US company to exports LNG to Japan, japanese must have accepted to take the blame for the pre-planned collapse.


Just saying.....

If at the start of the collapse we see MSM starting to blame Abenomics, that's it, that would be the proof of my speculation.

Fri, 05/24/2013 - 01:52 | 3595045 Meat Hammer
Meat Hammer's picture

Are you kidding me, ekm?  There will be no collapse according to the MSM.  Remember in 2009 when people were getting laid off left and right?  The MSM were running articles with titles such as, "Families enjoying more time to bond under Obama without stresses of careers in the way." 

When the collapse happens, cars set ablaze in the suburbs will be pushed as "No longer any need to drive to out of the way campgrounds for family fireside chats."

Everything is wine and roses under Obama.


Fri, 05/24/2013 - 07:25 | 3595281 They trynna cat...
They trynna catch me ridin dirty's picture

To this day I still laugh every time I see a headline using the term "the Recovery." Pure Orwell.

Fri, 05/24/2013 - 01:23 | 3595001 DeadFred
DeadFred's picture

Amateurs. They have the ability to print infinite fiat. They're allowed to openly purchase both bonds and stocks (the PPT have to pretend they are just stabilizing the dollar) and yet they're letting this get out of control. With those rules the PPT would end the day with a gain no matter what. They may have purchased most of the existing bonds AND have majority positions in every listed company but THERE WOULD BE A GREEN CLOSE!

Fri, 05/24/2013 - 01:40 | 3595033 FreedomGuy
FreedomGuy's picture

"Oh ye of little faith!"

Don't you know, all the central planners and bankers have everything under control. For ever action they have a superbly planned reaction to infinity? Sleep well at night knowing your superiors have it all figured out.

Fri, 05/24/2013 - 00:20 | 3594846 ApollyonDestroy
ApollyonDestroy's picture

Anndd it's gone

Fri, 05/24/2013 - 00:21 | 3594847 Manthong
Manthong's picture

all this stuff is really above my pay grade..

but it sure don't sound good

Fri, 05/24/2013 - 00:33 | 3594881 disabledvet
disabledvet's picture

i'm from New York so it's as simple as this to me: have no money riding on it but i've made the call. 1987 only this time "the law of large bodies in motion is in play" in other words..."escape velocity" as just said by FOMC Board voting member Evans. yen collapse, yields explode, market tanks...chaos in Tokyo.

Fri, 05/24/2013 - 00:21 | 3594850 The Shootist
The Shootist's picture

What a feast.

Fri, 05/24/2013 - 00:22 | 3594851 unplugged
unplugged's picture

roots getting very very close to unit circle

Fri, 05/24/2013 - 10:06 | 3595703 sumo
sumo's picture

You betcha.

When the global panic for good collateral goes full retard, I'll be opening a bottle of Chateau ZH Schadenfraude 2008 Gold Label. Pure bliss, my friends, awaits us.


Fri, 05/24/2013 - 00:22 | 3594853 Overfed
Overfed's picture

Would this be the appropriate time to say: "KABOOM!" ?

Fri, 05/24/2013 - 00:27 | 3594868 seek
seek's picture

Close, but I think we need one more percent. JGB yield is actually still lower than a year ago. But the trend, heh, is not Japan's friend.

It may not be long before we see KABOOM and our beloved deer in the headlights picture.

Fri, 05/24/2013 - 00:23 | 3594854 lolmao500
lolmao500's picture

The yen getting stronger is totally insane.

I hope all these carry trade fuckers are blown to bits.

Fri, 05/24/2013 - 00:27 | 3594871 otto skorzeny
otto skorzeny's picture

Grip it and rip it.

Fri, 05/24/2013 - 01:20 | 3594995 hmmmstrange
hmmmstrange's picture

How much yen is going to be on the fed's balance sheet tomorrow?

Fri, 05/24/2013 - 00:23 | 3594855 chubbyjjfong
chubbyjjfong's picture


Fri, 05/24/2013 - 00:24 | 3594856 unplugged
unplugged's picture

looks like they found the limit - now what?  anyone venture to guess where Japan will be this date next year?

Fri, 05/24/2013 - 00:25 | 3594859 lolmao500
lolmao500's picture

More radioactive than it is now?

Fri, 05/24/2013 - 00:25 | 3594858 Mark Urbo
Mark Urbo's picture

Its like Wile e Coyote jumping off the cliff and finding a stick of dynamite in his hand...

Fri, 05/24/2013 - 00:25 | 3594860 suteibu
suteibu's picture

Kuroda is Mr. Obvious. headline:  Kuroda Says Stability In JGB Market 'Extremely Desirable'

Of course, he has no idea how to accomplish that feat.

Fri, 05/24/2013 - 01:30 | 3595010 DeadFred
DeadFred's picture

You have to wonder how much of this is from the translation. Does he really sound like such as duffus in the original Japanese?

Fri, 05/24/2013 - 00:25 | 3594861 Yen Cross
Yen Cross's picture

    I have 10year JGBs @ .887 up 5.97%

Fri, 05/24/2013 - 00:25 | 3594862 Bunga Bunga
Bunga Bunga's picture

Maria didn't  get dip last night?

Fri, 05/24/2013 - 10:41 | 3595826 John Law Lives
John Law Lives's picture

She is a talking bobblehead working for her master.  Those who own the MSM have been laughing all the way to the bank... and to their plush estates... as wealth is transferred from the lemmings to them...

Fri, 05/24/2013 - 00:27 | 3594869 kito
kito's picture

And I always thought "Japanese chaos" was an oxymoron....Shirley when they dump stocks it will be in an orderly and honorable fashion.......

Fri, 05/24/2013 - 00:50 | 3594922 Mine Is Bigger
Mine Is Bigger's picture

Maybe it's not THEM that are selling.  The Japanese exchange rather recentely upgraded their trading system to accommodate high-frequency traders as I recall.

Fri, 05/24/2013 - 00:57 | 3594947 disabledvet
disabledvet's picture

The Borg have arrived...

Fri, 05/24/2013 - 05:40 | 3595196 malikai
malikai's picture

Don't call me Shirley.

Fri, 05/24/2013 - 00:29 | 3594874 Savyindallas
Savyindallas's picture

Christ -Nikkei is down oveer 500 points  -DOW futures down only 10

Fri, 05/24/2013 - 00:34 | 3594883 suteibu
suteibu's picture

14,360 was supposed to be major support.  14,238 now.

Fri, 05/24/2013 - 00:46 | 3594910 1C3-N1N3
1C3-N1N3's picture

11 minutes later: 14,001

Fri, 05/24/2013 - 00:49 | 3594921 The Shootist
The Shootist's picture

World War Z?

Fri, 05/24/2013 - 00:52 | 3594930 Bay of Pigs
Bay of Pigs's picture

Tidy little 1000 point drop there.

Fri, 05/24/2013 - 02:09 | 3595070 1C3-N1N3
1C3-N1N3's picture


Scratch my back with a hacksaw.

Fri, 05/24/2013 - 00:47 | 3594913 chump666
chump666's picture

 If the JGB markets implodes and CDS spreads blowout further than 2011, then this will spread to a global correction. 

So far a take down of two markets within a county.

Fri, 05/24/2013 - 00:30 | 3594878 icanhasbailout
icanhasbailout's picture

wait until Monday night, then buy with both fists

Fri, 05/24/2013 - 00:31 | 3594879 chump666
chump666's picture

haha this is f*cking wild too watch (Nikkei) you got bids/offers coming in, money printers v's sellers...

Carry trade just got killed. Messy trading, USD bids in, but CBs are revving up.


Fri, 05/24/2013 - 00:32 | 3594880 EhKnowKneeMass
EhKnowKneeMass's picture


Yes, fluc you, too!

Fri, 05/24/2013 - 00:35 | 3594885 1fortheroad
1fortheroad's picture

Need moar Sake.

Fri, 05/24/2013 - 00:39 | 3594899 Mark Urbo
Mark Urbo's picture

Dropping like a lead balloon...

Fri, 05/24/2013 - 00:39 | 3594894 sgorem
sgorem's picture

'bout time for ole mt. fukishima to erupt for a little distraction from this circus.

Fri, 05/24/2013 - 00:39 | 3594898 Yen Cross
Yen Cross's picture

     Tyler is right about the risk/reward aspect of the trade. It's way too volatile to guage what your risk should be. The freaking Nikkei is moving 3-400 points in minutes.

Fri, 05/24/2013 - 00:53 | 3594935 otto skorzeny
otto skorzeny's picture


Fri, 05/24/2013 - 00:54 | 3594937 otto skorzeny
otto skorzeny's picture


Fri, 05/24/2013 - 00:54 | 3594938 ekm
ekm's picture

When something looks too too too toot too stupid, it's done on purpose

Fri, 05/24/2013 - 00:40 | 3594900 suteibu
suteibu's picture

Nikkei:  Abe Says Govt's Job is To Maintain Market Confidence by Pursuing Sustainable Fiscal Policy

I'm thinking 2 straight days of sell-offs going into the weekend is not going to inspire a lot of confidence

Fri, 05/24/2013 - 00:44 | 3594907 Mark Urbo
Mark Urbo's picture

It's like in Alien when the acid just keeps dropping through each floor of the ship...

What's the next floor supposed to be ??

Fri, 05/24/2013 - 00:42 | 3594904 Dr. Engali
Dr. Engali's picture

I'll wait until tomorrow to hear Maria's advice on whether or not to buy the dip.

Fri, 05/24/2013 - 01:02 | 3594959 disabledvet
disabledvet's picture

I'm ready right now for Maria. I know she wants it too...

Fri, 05/24/2013 - 00:46 | 3594908 suteibu
suteibu's picture

OUCH!  NIkkei is about to go sub-14,000.  An almost 900 point drop in an hour.


Fri, 05/24/2013 - 00:50 | 3594926 lolmao500
lolmao500's picture

Pikers. The Dow Jones did it in less than 10 minutes back on May 6 2010.

Fri, 05/24/2013 - 00:52 | 3594929 suteibu
suteibu's picture

I'm thinking that, unlike the flash crash, this one will stick.

Fri, 05/24/2013 - 00:46 | 3594909 Bear
Bear's picture

Flash!  NK down another 4.3%

Fri, 05/24/2013 - 00:46 | 3594912 ApollyonDestroy
ApollyonDestroy's picture

We'll see where it closes but at this minute over 12% off yesterday's intraday high absolutely no way is this normal operating procedure. Japanese barnburner for the win

Fri, 05/24/2013 - 00:47 | 3594914 suteibu
suteibu's picture


Fri, 05/24/2013 - 00:48 | 3594917 Legolas
Legolas's picture

Yeah, it looks like the bottom is falling out again.

Push the reset button Ben, let's get this over with ... 

Fri, 05/24/2013 - 00:51 | 3594920 lolmao500
lolmao500's picture

When the Japs panic, you know it's bad... unless it's Godzilla of course... but now it seems that BONDZILLA has shown up.

Fri, 05/24/2013 - 00:50 | 3594923 chump666
chump666's picture

1400! capitulation point? 

We got a full blown Japan crash going on.  China sells off it's 8%...


Fri, 05/24/2013 - 00:50 | 3594924 Awakened Sheeple
Awakened Sheeple's picture

Bernanke: MOAR! I haven't slept in two days and I'm almost out of coke!!

Abe: We're printing as fast as we can!

Fri, 05/24/2013 - 00:51 | 3594928 horot
horot's picture

Hiroshima pt 2. Banzai !!!

Fri, 05/24/2013 - 00:53 | 3594933 takeaction
takeaction's picture

Where are you guys seeing this drop??  I see only 170 down?  14344??


Fri, 05/24/2013 - 00:55 | 3594941 jcaz
jcaz's picture

You're looking at a 20 min delayed quote- yah, it's moving that fast....

Fri, 05/24/2013 - 00:57 | 3594950 takeaction
takeaction's picture

So where can I see it live...ticker?


Fri, 05/24/2013 - 01:00 | 3594956 ApollyonDestroy
ApollyonDestroy's picture

Fri, 05/24/2013 - 01:00 | 3594957 suteibu
suteibu's picture

I use (subscription).

As of now the market is extremely volatile...100 pt swings in minutes.  Currently at 14,208.


Fri, 05/24/2013 - 01:01 | 3594962 takeaction
takeaction's picture


Fri, 05/24/2013 - 01:06 | 3594971 suteibu
suteibu's picture

Back up to 14,365

Fri, 05/24/2013 - 01:07 | 3594972 disabledvet
disabledvet's picture

No thanks...

Fri, 05/24/2013 - 00:53 | 3594934 HeliBen
HeliBen's picture

Pfft. I'm so long stawks right now. Put retirement money in yesterday and remotgaging house. All short dated calls. I'm gonna be rich!

Fri, 05/24/2013 - 00:56 | 3594943 suteibu
suteibu's picture

This is how the Japanese financial media swings.

Nikkei Trades At High Levels On Lack Of Incentives

"TOKYO (NQN)--Tokyo stocks continued higher surging nearly 400 points to trade in the mid-14,800 to upper-14,800 level at the opening of Friday's afternoon session.

The benchmark index ended the morning at 14,867, up 383 points.

The currency market and Asian stock markets saw no major movement during the lunch break. A lack of incentives has selling and buying roughly even. Investors appear reluctant to shift positions ahead of the U.S. Memorial Day holiday weekend."

Apparently, they came back from lunch and found some incentive to sell.



Fri, 05/24/2013 - 01:30 | 3595012 U4 eee aaa
U4 eee aaa's picture

musta been some bad sushi

Fri, 05/24/2013 - 00:56 | 3594944 The Shootist
The Shootist's picture

Negative 3% tonight or bust.

Fri, 05/24/2013 - 00:56 | 3594946 CrashisOptimistic
CrashisOptimistic's picture

More talk of disintegration and collapse and KABOOM and blah blah.

What does ANY of that mean?  How many people are going to die within the next week because of this?  Right, none.

There is no KABOOM unless "collapse" kills people.  Otherwise it's just numbers flickering around -- and numbers that can be changed by decree.

Fri, 05/24/2013 - 01:05 | 3594968 chubbyjjfong
chubbyjjfong's picture

Yes, but for as yet unkown reasons, its so much fun!

Fri, 05/24/2013 - 01:04 | 3594966 suteibu
suteibu's picture

>I want to hold Japanese stocks through the weekend

>I want to sell everything and catch the first flight to Bangkok

Fri, 05/24/2013 - 01:05 | 3594970 Legolas
Legolas's picture

It's now levitating again.  Bernanke Bucks, perhaps?

Fri, 05/24/2013 - 01:07 | 3594973 Freedumb
Freedumb's picture

This is way too good to go to sleep before closing. But I really wish I had more beer in the fridge for this.

Fri, 05/24/2013 - 01:07 | 3594975 The Shootist
The Shootist's picture

It's trading like Jim Sinclair thinks gold will someday, wildly.

Fri, 05/24/2013 - 01:11 | 3594983 walküre
walküre's picture

Surprise! Japan is the next Greece despite their ability to print promises to pay on paper. Country printing their own currency and buying their own debt is going in the crapper.

Was thinking Spain or France would be next on the hit list but Japan it is.

No escape. Epic crash ahead.

Fri, 05/24/2013 - 01:15 | 3594984 trustee
trustee's picture

What's even more lol is all the bears are acting like geniuses..even after they lost their shirt on metal longs and ES shorts.....

Fri, 05/24/2013 - 01:15 | 3594986 hmmmstrange
hmmmstrange's picture

Only thing that makes sense is the fed is buying unlimited yen.

Fri, 05/24/2013 - 01:19 | 3594990 MaxThrust
MaxThrust's picture

I have just made a batch of poporn and waiting for the next installment of the end of the ponzi.


Fri, 05/24/2013 - 01:22 | 3594991 MaxThrust
MaxThrust's picture

"The end of the ponzi"


This could be a tile to a movie about the demise of a God father like fellow



A scifi thriller with a financial twist.


Fri, 05/24/2013 - 01:20 | 3594994 arnoldsimage
Fri, 05/24/2013 - 01:23 | 3594999 q99x2
q99x2's picture

Buy the Dip. The FEDs Software is not susceptible to human emotion.

Fri, 05/24/2013 - 01:24 | 3595005 U4 eee aaa
U4 eee aaa's picture

and in my brokerage account they had this little gem:

Is Japan the New Frontier in Investing?


Time to scratch that report. They had it all set up with their reports all ready to funnel the sheep into the pen. It looks like Mr. Market is busting chops ahead of schedule

Fri, 05/24/2013 - 01:28 | 3595007 chindit13
chindit13's picture

Japan is going to blame foreigners, and in a sense they will be correct.  This is hedge fund liquidation. They bought Nikkei and shorted the yen. Now they are reversing.  En masse.

The thing is, it was the same folks whom everyone applauded as they drove the Nikkei up from 8000 to 15000.  Hedge funds giveth, and taketh away.

This has happened in another asset class, too, (i.e., the same folks who drove up prices by buying drove down prices when they began to liquidate).  Guess which market?

To keep the Nikkei up, the BoJ is going to have to monetize the HF selling.  They probably will try.  More "good luck in your great experiment".

Fri, 05/24/2013 - 01:30 | 3595011 trustee
trustee's picture

What a remarkable analysis! 


So you're telling me that hedge funds were buyers and are now sellers? The intellectual ability required to come up with such a thesis is mind boggling. 

Fri, 05/24/2013 - 02:58 | 3595073 chindit13
chindit13's picture

You are much too kind with your compliments. It makes me blush.  Perhaps lost in your rush to congratulate, you missed the implication that Japan hadn't actually had to put their foot to the floor because the foreign hedge funds were doing their bidding (literal and figurative) for them.  The last two days, however, demonstrated that besides the foreign HFs, there was little to no bid under the market.  Now that this has become apparent, Japan will be forced to act. They will have to pony up the cash to pick up what the HFs are dumping.  Thus, Abenomics has moved into Phase II. Just buying JGBs isn't going to cut it.

But you knew all that, so humor me and accept that I am offering it to the children of a lesser god than you.

Fri, 05/24/2013 - 02:18 | 3595074 Pareto
Pareto's picture

So.  Exactly what is it that you are offering?  oh thats right.  fuck all.

Do NOT follow this link or you will be banned from the site!