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Stocks Drop 4% From Their All Time Highs And This Happens....
One couldn't make this up:
- S.KOREA TO HOLD EMERGENCY MEETING ON JAN. 26 TO DISCUSS MARKETS
Bloomberg has the details: South Korea Vice Finance Minister Choo Kyung Ho will host an emergency meeting tomorrow at 11 a.m. with counterparts from Bank of Korea and financial regulators to discuss market instabilities in emerging economies including Argentina, ministry says in text message.
So what happens if there is a, gasp, 5% drop from all time S&P500 highs - Janet Yellen shows up on every TV channel and tells broke viewers now is the time to buy stocks and pay for them in 4 easy installments using their favorite EBT card. What about a 10% correction: the army gets mobilized? And should the unthinkable happen and the centrally-planned "market" crash by 20% then nothing short of DefCon 1 and a 24/7 curfew would be acceptable.
We joke, but this is what happens in a time when the "confidence" of the entire world is defined by the daily move straight line higher in the S&P, and the tiniest derivation from this path results in sheer panic.
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Deep Kimchee
The stock market is driven by inflation.
A robust system, I say! ROBUST!
It was only a matter of time...
This is good news. The elite are pretty scared this time around. BUY PUTS, MAKE PAPER MONEY, SELL PAPER MONEY FOR GOLD. Rinse, repeat. Working a job and earning money that way is so last centry. I am holding puts on TESLA and NASDAQ over the weekend. Ready to convert to call before FOMC and then puts. Watch your VWAP.
4 easy installments, panic, who would da known??
KOSPI broke below 200-MA on a daily chart, as well as Hang Seng.
Mexican Index also broke below 200-MA and technically looks like a classic short.
Chuck "Fuck The Flyover States & Get To Work Printing MOAR" Schumer has bankster & Wall Street bosses who are not happy with the Senator.
Goldman is net short; therefore, this time Chuck will not demand for more money printing to help the "unemployed." (The "unemployed" is a code name for "Wall Street bankers".)
South Korea knows what is happening and the building wave of disruption has been visible for a long time.
South Korea never took the blue pill - market mayhem is on us and they are getting real:
http://www.commoditytrademantra.com/gold-trading-news/south-korea-opening-gold-exchange-in-q1-2014/
No doubt, DHS is getting ready for use of all those billions of bullets they recently bought.
Hey, WWup.
Nah, what's happened is that S. Korea hasn't received the phone call yet from Christine Lagarde like Janet Yellen got on Friday where Lagarde told Yellen to keep printing and forget any ideas Janet had about "tapering".
Once Lagarde gets on speaker phone w/both S. Korea and Argentina & tells them what to do, how high to jump, and when to do it, things will be just fine.
Now, who says the French aren't in charge? Pass the Champaigne!
End of the Rainbow? A pot of gold
End of the baseless fiat parabola? Buckets of blood
South Korea is right to be worried.
Who ever thought a skinny French Bitch with hairy armpits and a bicycle would be telling people what to do; what a world.
This tells me that something is disturbing the markets more than just a correction. It is sign of a severe crisis brewing. Be aware!
I can't stand the sight of that French bitch strutting around the globe no wonder things are so fucked up.
Stockholders Prayer: "Even though I walk through the valley of the shadow of death, I fear no evil, for the PPT and the Fed are with me."
There has never been a more contemptible, slithering, in the pocket of Wall Street banker politician than, Chuck Schumer...at least since Barney Fwank and Chris Dodd cashed out anyways.
here, here...err
HEAR, HEAR!!!
Janet Yellin' looks like a Tapir !
Maxine Waters.
Nancy Pelosi.
Both of them make Harvy parties seem like physics exams.
The panic is not about the 1 day dip, it's about Margin Monday and the really big fun which may result in Singapore/S.Korean RNB/EU currency swap exposure. For a while now big fish have openly speculated and warned that the swings are going to force some serious deflationary problems if they go zero-currency reserve and need swap-lines in March.
Or whatever. Maybe Samsung wanted them to target the exchange rate to boost the 2014 buyback.
Just remember folks: You read it first - years ago - on ZH!!
-30-
Mar Ket Fukt
We Tu Lo
Janet Yellin' loves inserting Tapir long long time.
Really. The broken clock that's going to be right some day.
I'll tell you what that Ho is going to say: US has declared war on all currencies, so it's time to buy as much gold as possible.
chick corea https://www.youtube.com/watch?v=ytHCfy6a7jw&list=SP705AA68684B5EBFE
I like what I'm hearing, and I don't have a clue what the $%#@ you're saying..The "gist" I'm getting is:It's ok to hate the system, but that doesn't mean you shouldn't use it to your advantage (ala "don't hate the player, hate the game).
Time for this old coondog to learn some new tricks
I'm all cash baby. BTFD. Once this party gets started I'll be offering 2 pennies for your homes, 1 penny for your dogs, and 1/2 penny for your wives. Act now because after this is all over it will only be 1 penny for the bundle.
100 percent cash. looking for deals on craigs list. honda and toyota, mis priced home.
otherwise anything paper investment is just that, but good luck to ya, and i'm not the least bit envious of your gains-you did your d.d. and took the risk. good luck sincerely...
You are taking the risk of not being able to get any physical gold.
spitzer, its tool late for them let them have their cash. they dont deserve any gold.
So sorry EP, but the wife is gonna cost you a pound - of platinum.
Once this "party" gets started, your cash and wife will be taken by roving bands of marauders. And they will kill and eat your dog before slicing your throat. The reset is coming, but it's nothing to be excited about.
Why do people think it's normal that the Fed 'IS' the market and cling to every utterance of those criminal clowns.
Because the dirty secret of Wall Street is that it is littered with dummies. The degenerate gambling gene is much more important than intelligence and math accumen.
It seems with the win/loss ratio, that wall street is more like the house than the gambler.
They are the house until the senior partner (the fed) calls the note. Thats when it starts raining these fools in NY.
There appears to be a dress rehearsal coming up. The real deal will show up when all of the senior partnes" disappear.
Actually they consider it a rigged game and feeding time for the Wall Street herd. Just don't be in front when the herd moves.
<And just like all addicted gamblers they believe they can beat the system and get out before everyone else.>
I liken it to cocaine cartels...any syndicate would work, but this works better for the analogy.
You got your "producers" (the Fed & .gov) juicing the street with "free samples" until everyones hooked on the "product". Then, when a threat is introduced to the cartels, like the proposition that the product is actually bankrupting & killing people in mass, the cartels in unison step forward and say without their activities & commensurate taxation gained from the product, the people hooked on it would suffer horribly, so it must continue!
I mean, this is "high finance" we're talkin about here ;-)
Nm, no linken-ing needed.
The banks ARE cocaine cartels pretending to be financial service providers...literally...
ori
+1
Money laundering between cartels, whowouldathunkit eh? And the same ones who manipulate our precious in fiat price no less.
Thanks for tying the bow on it ORI ;-)
Makes one wonder what real returns have been in the Bull Market if a real inflation figure was factored in and not government's fake inflatoin numbers..
It is interesting how governments panic at any market downturn or correction, when for several years markets have gone up in leaps and bounds, even a minimal down day or tow sets of panic meetings. Thus one wonders, would a real market downturn for a few months running cause an explosion in financial instruments on all the banke'rs books. Every thing has collateral behind it that is dubious at best, and unreal at worst.
The answer, at least to me, is surprisingly simple; governments can't tax deflation. So, by logical extension, governments HATE deflation.
When I die and reincarnate, I want to come back as deflation just so I can violate one of the two guarantees in life!
Regards,
Cooter
BTFD graduated to BTFATH? right? so wouldn't the normal path of regression be to fall back to BTFD??? What is right below BTFD? BMB? (bail, mofo's, bail).
Perhaps we are underestimating what's all coming together.
My thoughts too. Though I'm amused as anyone by ZH sarcasm, one wonders what's going on behind the scenes that they are so worried about.
Usually emergency meetings like this are to address an impending market failure rather than just a downturn.
is S Korea the first to panic, thus the best panic?
I get your point but there is no such thing as a market failure. Markets are always adapting.
However, the real point is that any drop, any sustained drop in any market from what central planners want reveals their imperfection and limited power. That cannot be allowed.
Let's make it easy. Central planners assert stock markets only go up, government bonds are always expensive (low yields), commodities should always be cheap, especially PM's.
Any deviation from those things shows the central planners and government in general are not gods and have feet of clay. These guys look at a rain forest and assert they are botanists who could run it better. I think they actually believe their own BS and even if they don't they have to act like they do.
My thoughts exactly. When even the simplest or slightest moves take on monumental proportions, there is a monster disruption in The Force.
Who will be the first to yell "fire!" in the crowded theatre? I find it interesting that some hacker also broke into CNN's web page and announced China was dumping all it's bonds. Little tests to judge which way the sytem is leaning, or if it is teetering.
Gonna be an interesting week.
This is a test of the International Reality Avoidance Program Endeavor, or I-RAPE. They have been doing what they can to rape everyone financially through manipulation of all markets under the auspice of preserving the American Dream.
will trade KimChee
for gold ...
This entire JOKE has been going on for FAR TOO LONG. the market is FAKE and so is the RECOVERY!!!!!! (How HIGH is Unemployment for petes sake!)
not a joke really.
Everyone is now talking about being greedy when others are fearful. I think people need a reminder of what fear really is.
The hyper rehypothecation of stocks as the collateral in the chain is going to cause this thing to go super nova at some point.
I think the Korean panic over -3% says it is.
Add in the 30:1 leverage of some players ,and -3% just wiped them out.
50/50 chance Monday could be a bloodbath when the margin calls are made.
Once you add in the derivatives and other shadow bank goodies and the number jumps to 150:1, that's where all the darkness lives!!!!
That's the corner I want the light put on, and lets see what these fools think is real and "not real" then!!
FED ZIRP inflated the carry trade in foreign markets, and the US stock market.
1/0 = infinite credit expansion.
Biggest bubble ever.
Yellin' Taper pops the bubble.
Wasn't there some kind of default in China 'scheduled' on the 31st?
http://www.oregonlive.com/hillsboro/index.ssf/2014/01/lunar_new_year_201...
+1000
I wonder what exposure South Korea has? That is exactly what I was thinking.
Exposure to HSBC ? (added)
Yes, the default in China's equivalent of of a hedgefund was "scheduled" as in everyone knew about it but then last I heard, it had been "fixed" - I figured the counterparties now knew and had prepared.
Oh snap! This 4% drop IS the reset of the counterparties prior to the default so there won't be any tsunami waves on the 31st.
Fuck South Korea. Fuck Argentina. Fuck globalization.
Fuckin cunts pushing this global equality interconnectedness bullshit.
Sure, sure, sure, but tell us how you really feel.
Yea, he could have just gone off grid and been alot happier.
Well said, scro'
"That's what you said last time, dipshit! Yeah, I got a solution: You're a dick! South Carolina, what's up!"
-South Carolina Delegation
In the House of Representin' !!!!
Comacho would recommend the markets be more heavily watered with Fed. It's got liquidity.
Game Over
What is an End Game with No Exit ? Hmm. DEAD END.
If you wish to play again; please insert a real silver quarter. thank you; have a nice day.
4% drop when your margin is 50:1 not so small problem
When the stock market replaces the actual economy, these occurances become more commonplace. Expect to see stupidity like this coming out of whoritohill soon.
The meeting agenda 1)Is the jig up?
2)How can we keep the bullshit going
3)Ms. chairwoman,get to work!
she is Yellin' Taper!! and pops the bubble.
Why doesn't somebody help that poor Choo Kyung Ho by giving her a Heimlich? Just because she's a Ho doesn't mean she should be left to choke to death. Have a little compassion people!
But seriously, the reason that SK is holding this emergency session is because financal collapse in even one or two of their main overseas resource supplier nations would endanger the entire SK manufacturing sector, and then it will be domino time among the Chaebols.
SK has almost zero natural resources and relies heavily on imported raw materials.
They do have lots of rocks.
I see what you did there.
Plenty of snow and ice too; and plenty of imported oil; and plenty of really nice neighbors to the north who want to make life better for them if they have a moment of weakness. You gotta be tough to be a Korean.
exactly
Geez...10% "in the good ole days" was a normal and healthy correction.
20% OK maybe you're in a bear market.
4%-5% panic - just more proof that Central Bankers have broken markets.
so much leverage and margin in the system that 5% is enough to set off margin calls....which beset margin calls and before you know it we have a failure or 2 and the vultures like GS then drive prices even lower on the liquidation sale (as long as it's not them...if it is they can just cancel the trades and do a do-over)
Groundhog Day: Doesn't matter if GS drives the prices lower on the liquidation sale - they'll front run the options side of the deal. AI software will handle it all unless some loon pushes a wrong key on their keyboard.
HSBC is in technical default,
So if this bank colllapses this week, ASIAN Markets will be destroyed.- But not only equities,
Bonds will crash
Fx will crash
Mega Credit Event
PM will soar.
Die HSBC, DIE !
We can only pray. Oh, dear Lord please let HSBC die; publicly, totally, and completely; beyond the possibility of repair or redemption; this we ask in the name of your son Jesus Christ. Thank You, Oh Lord. there, I've done my part.
... and take Goldman and JPM with you.
Amen
HSBC is in technical default
in what way exactly (more than anyone else that is)?
Gotta link?
Yeah. You should read Zerohedge once in awhile. They got some cutting edge stuff...you know?
http://www.zerohedge.com/news/2014-01-24/bank-run-fears-continue-hsbc-restricts-large-cash-withdrawals
I did happen to read that before it was posted on ZH. Jesse's maybe, I don't remember.
How about an additional link with more info, Shorty?
Is next week when we get treated to the sight of "free market capitalists" screaming for the gubmint to save them? It is a funny sight indeed. 3 Months after they are saved, it will be back to "free markets solve all problems" and the government will be evil again.
"I Demand An Investigation!" will be the next mantra from leaders around the world if markets go down again next week. Yeeesh. We have come so far that "markets" are not allowed to do what they are supposed to do. Reset, reprice and reinforce the simple principle that return is a function of risk. Damn, i long for those days.
"I Demand An Investigation!" will be the next mantra from leaders around the world if markets go down again next week. Yeeesh. We have come so far that "markets" are not allowed to do what they are supposed to do. Reset, reprice and reinforce the simple principle that return is a function of risk. Damn, i long for those days.
"Welfare for the rich"; I must have lived too long.
That's what it feels like. Hung up on a rope and getting beated by a stick every now and then, to see if you're dead. To make the flesh taste better, let the blood pump through your vains. Just like you do to dogs in Korea, for dinner.
Feels good hey?
Guess what: Fuk Yu Toe.
To quote Slim Pickins as he rode the bomb down - Yaaaaahhhhhoooooo!
Bernanke must be laughing his ass off now that he's handed this shitbag situation over to Yellen. I'm sure his practicing his "dumb innocent look" for the cameras in the mirror right now. All we need is Hitlery at the helm and it's a fait accompli.
Miffed;-)
Most Men leave their mess for Women to clean up.
HEY !!!
you're right...
The trick is to never clean up their mess no matter how many maggots are wriggling in it or how much it stinks. Just hold your nose and walk by. After a while my man gave up and no longer crapped in our nest. Women tend to be people pleasers and enablers and then complain they are being used and are unappreciated. Unfortunately if you act like a door mat in this world people just wipe their feet on you.
Miffed;-)
Ever thought of weaponizing Mr Miffed's underwear stains ??? It may be the only thing that can save us !!!
That was my plan exactly! Plus I was going to throw in a sprinkling of Bacillus anthracis, Coccidioides immitis and Yersinia pestis just for jollies. But a good bioterrorist always runs into the same old problem. Dissemination of your agent. I can't come up with a way to get TPTB to sniff his Jockeys!
Miffed;-)
A meal at a good Mexican Restaurant ought to be the perfect dissemination agent !!!
Get some Polonium for best effects. ;-) (A warning seems appropriate: Don't try to produce Polonium at home!)
Old Yellen was a good old dog. Couldn't stay away from skunks though.
I'm not as up on symptoms of metal illness as I should be hanging out here on ZH, but isn't one of the main symptoms of a psychopath that they believe that they are smarter than everyone and that they are in complete control?
"Metal illness" cute. I think I'm infected but in a good way. ;-)
Miffed;-)
Dear Miffed - oops - sticky keys and careless editor. Although I do like 'metal illness'. I have it too.
Guilty confession. I replied to you so you couldn't fix it. But only because it was a Freudian gem. ;-)
Miffed;-)
Yes, and Yes. and LOL, for your comment.
The stock market has officially jumped the shark into Airplane 2 territory.
This is the part where Elaine tells the passengers that are they are out of coffee and all hell breaks loose but the fact they are hurtling towards the sun for imminent destruction doesn't bother anyone.
https://www.youtube.com/watch?v=5ilGGP9BDZs
So it all ends with a "human bridge" from North to South with troops engaged on it from both sides?... Smells like December 1950 all over again with the Battle of Chosin Resevoir only this time with better weapons!
Hope the Western Central Planners know what they're in for if they should choose to "role the dice" on Monday morning to start the week with an accident!
You "roll the dice", whether it's on a Monday or any other day ending in 'y'.
Yes. But it has such a special meaning when you're Janet Yellen and Ben "Shalom" Bernanke and the responsibility that comes with throwing those dice and managing the Casino at the same time!
North Korea kicks ass. Look what they have just accomplished. Rumor has it Dennis Rodman helped with the design of the Mother Ship, with an assist fom George Clinton.
http://www.tweaktown.com/news/35032/north-korea-confirms-it-has-landed-a-man-on-the-sun/index.html
Maybe the NFL should schedule an emergency meeting to discuss Super Bowl ticket prices collapsing on the secondary/resale market. Seems few are willing to mortgage the house to sit in sub-freezing temperatures to watch some pointy ball.
This coming "shitshow" should be fun,
The security is going to be all sitting in the seats at this rate. I hope the thing shows up just how out of touch with reality the NFL is concerning their paying customers at the stadiums.
Maybe the game will be blacked out in NY, lol
Hey now, the NFL is a not-for-profit rainbow unicorn organization, with hugs and philanthropy for all.
We may not have a constitution anymore, but by God we still have the NFL providing the good life to maybe a thousand bulky jackasses.
Just like hockey in the old USSR.
Indeed, "collapsed" to $1800. And for shit seats I assume too?
Seems few are willing to mortgage the house to sit in sub-freezing temperatures to watch some pointy ball.
At the rate we're going this article only proves how bad and desperate the "powers that be" running it are getting these days. I think mortgaging the house on a set of Superbowl tickets is so "2013" at this stage if this article is true.
http://voiceofrussia.com/news/2014_01_25/Medicaids-ability-to-take-away-peoples-assets-makes-people-to-withdraw-their-coverage-0781/My advice? Cut back on the visits to McDonalds and KFC and keep that membership to the gym as an insurance policy at this point!...
I got this!
- Janet
Maybe someone big has just been wiped out.
I don't see any smoke signals yet.
Zero has the State of the (soviet) Union addy coming up, may be a good time to distract the proles from the actual state of the union.
Oh, that's right, it's about time for Oblammer to start 'splainin how it's all Bush's fault, again.
http://en.wikipedia.org/wiki/Panic_of_1907#Stock_exchange_nears_collapse
I read somewhere the 1907 "rich man's depression" also resulted in the army having to be deployed in New York City to stop the mobs from hanging bankers.
I would like to believe they got a few before the army arrived lol.
If I lost confidence every time I failed to get pu.... oh shit, we are truly screwed!
Emerging economies are getting fucked over a barrel due to all the developed economies central banks money printing race-to-debase shenanigans.
Working individuals/families and retirees being pummeled with ZIRP and NIRP.
But hey, look at those equity markets! Whoopee!
MMMM,,, fucking over a barrel good times if your the one NoT over the barrel
Boy you got that one right; you're reminding me of some experiments I did with a really cute girlfriend in 1973; it was an old wooden water barrel, but she didn't mind a bit.
Neither the Dow nor the KRX have suffered a 3% drop. Close, yes, but not even 3%. A move like that used to happen over the course of a week and people would look for buying opportunities. I don't recall an "Emergency Meeting" over a 2.94% drop over a couple of days before. The markets are completely disconnected from reality, people have bought the 'greater fool theory' sight unseen. Reminds me of how Present Øbama got elected.
He got elected because the people had had enough of Republican/Bush/Cheney fascist-corporatist-MIC bullshit. Period.
And now we get Democrat Obama/Pelosi? fascist-corporatist-MIC bullshit.
Republican Fascists turn again -rinse and repeat.
Did they "invest" in the Market to take some of that QE debt that the FED has been producing? Must have a lot at risk.
Don't make me angry, mr. Choo Kyung Ho, you wouldn't like me when i'm angry.
What? Nobody here has yet mentioned Christine Lagarde's stunning comments from Davos today? They aren't just hinting at a global currency reset any longer. They are ANNOUNCING IT. All: do yourself a favor and listen to the first 10 minutes of this roundtable. Christine says she has two "R" words: RISK and RESET. And her RESET is broken down three ways, one of which is this:
http://www.weforum.org/sessions/summary/global-economic-outlook-2014
Sooo, Chrissy: exactly what "different kind" are we talking about here, hmmmmm?The sad and pathetic thing is that the central bankers think they can design, perform and control such a "reset".
Reminds me of the various parties in the "Alien" movies who try to bring one back, thinking they can control it.
They get eaten, basically.
http://www.youtube.com/watch?v=Jp7SNoYOQmY
Here's a scenario for you:
Satoshi is no savior, he's a huge black op to create perceived value in the magic of a "digital currency." It was trotted out when the men behind the curtain knew the movement of gold can't be sustained or tolerated or normalized vis a vis the dollar. The dollar's status as the reserve is breaking down and a replacement is needed and neither another country's currency nor gold will be allowed to replace it. Since bit-coin is a controlled model running safely inside a supercomputer in Colorado and Utah it can "appear" to take over the role of reserve currency, with the illusion of democratic equanimity. It will then be easy to implode all the world currency, liquidate derivatives, and all savings. The central bank of the world will be operating completely in the black in both meanings or the word. Everybody who is ultra rich now will be kept whole through the process. The police, surveillance, media monopolies will contain the hordes.
thank you for the link. very interesting
Hulk - what link are you ref'ing? The Alien youtube or the Christine Davos one? LOL.
From the looks of both - there is indeed a family resemblance .
No shit. The CNBC talking head-hosts were acting like it were the end of the world on Friday when we had 1.5 percent off on the NASDAQ, but during the past two weeks no one blinked an eye when the same index made daily climbs of .3 to 1.5 percent. As if this upward climb were some normal,everyday, expected return---sure, let's have 90-150 percent return on the year then.
"A correction? You can't handle a correction!!" (in the voice of Jack Nicholson, in his role in "A Few Good Men")
HSBC i thougt things were bloody marveleous in the Britsh Empire?
China we just built 20 gost cities , if you build it they will run!
game over