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The Russian Ruble Is Hereby Halted Until Further Notice

Tyler Durden's picture




 

Earlier, we reported that various currency brokers such as FXCM and FxPro, would - as a result of the soaring liquidity in the USDRUB pair - suspend trading in the Russian Ruble (while other merely hiked margins to ridiculous levels). It appears things have escalated again, and as FXCM just reported, instead of just politely advising clients not to open new USDRUB position tomorrow, it has advised anyone long, or short, the USDRUB that their positions will be forcibly shut in moments.

So for those curious why there appears to be a collapse in Ruble volatility in the past few hours which in turn has sent both stocks and crude soaring, the answer is simple: nobody is trading it!

And this is what happened following the post: as soon as all those short the RUB (long USDRUB) realized they have to take profits, the USDRUB tumbled some 500 pips (!) in the process sending stocks surging.


h/t @Paul_Courtney

 

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Tue, 12/16/2014 - 12:32 | 5558627 Alhazred
Alhazred's picture

much harder to control what i carry in my pocket vs what it is my bank account.

 

http://www.bgasc.com/product/100-gram-pamp-suisse-cast-gold-bullion-ingot-bar-assay-9999-fine-24kt-gold/100-gram-gold-bars

Tue, 12/16/2014 - 12:22 | 5558554 Chat_noir
Chat_noir's picture

Silver -4.79%

at this pace, Silver will be the next market halted without further notice

Tue, 12/16/2014 - 13:05 | 5558818 SHEEPFUKKER
SHEEPFUKKER's picture

They have to halt the fake markets to protect the fake markets. 

Tue, 12/16/2014 - 13:30 | 5558923 BigJim
BigJim's picture

I didn't think they halted PM's when they went down. That wouldn't allow true price discovery in our unfettered capitalist economies!

/s <- for the irony challenged

Tue, 12/16/2014 - 15:40 | 5559585 Pumpkin
Pumpkin's picture

Never! Without their fake paper silver market, silver would be $150/oz

Tue, 12/16/2014 - 12:22 | 5558557 HyeM
HyeM's picture

so much for putin destroying the petroDollar...vald just got ass f#%&cked....

Tue, 12/16/2014 - 12:31 | 5558620 CrazyCooter
CrazyCooter's picture

This is definately an axe handle to the head for Putin, however this isn't over yet either.

Are there not other markets trading the Ruble or did the US kill every FX market in the world?

This is the US banning trade in rubles as an attack on the ruble (and to cover their leveraged shorts at a profit). There will be a response, so get yer popcorn!

Regards,

Cooter

Tue, 12/16/2014 - 12:58 | 5558770 Winston Churchill
Winston Churchill's picture

Was it over when the Germans attacked Pearl Harbor ?

Tue, 12/16/2014 - 13:13 | 5558858 MsCreant
MsCreant's picture

Forget it, he's rolling...

Tue, 12/16/2014 - 12:29 | 5558558 Bokkenrijder
Bokkenrijder's picture

But but but...I thought that Putin was so smart and he might introduce a gold backed Ruble? Keep on dreaming folks!

Tue, 12/16/2014 - 12:23 | 5558559 drink or die
drink or die's picture

Mission accomplished.

Tue, 12/16/2014 - 12:23 | 5558560 SethDealer
SethDealer's picture

you think putin is scared?

Tue, 12/16/2014 - 12:27 | 5558592 Tekrunner
Tekrunner's picture

Doubtful, but he's probably pretty pissed off right now.

Tue, 12/16/2014 - 12:23 | 5558561 FieldingMellish
FieldingMellish's picture

Crude slipping again, this time without the "help" of the Ruble.

Tue, 12/16/2014 - 12:23 | 5558563 NoDebt
NoDebt's picture

Do you at least get a reach-around with that?

Tue, 12/16/2014 - 12:40 | 5558679 Ms. Erable
Ms. Erable's picture

That won't help much when they're using a 60-grit sandpaper condom.

Tue, 12/16/2014 - 12:59 | 5558772 Winston Churchill
Winston Churchill's picture

12 grit gives you that tingly feeling all over.

Tue, 12/16/2014 - 12:23 | 5558564 blaireauhedge
blaireauhedge's picture

DOW up 150 points. Fucking unreal!

Tue, 12/16/2014 - 12:30 | 5558612 Sisyphus
Sisyphus's picture

350 by the time it closes.

Tue, 12/16/2014 - 12:33 | 5558631 mayhem_korner
mayhem_korner's picture

 

 

Flight to safety.  /s

More like algo-engineered "all is well" ramp.

Tue, 12/16/2014 - 13:56 | 5559076 Meat Hammer
Meat Hammer's picture

Gasp!  QE might not end after all!!  Who knew??!!* http://finance.yahoo.com/news/stock-futures-slide-oil-rouble-124138289.h...

 

 

 

*ZH readers

Tue, 12/16/2014 - 12:33 | 5558638 SheepDog-One
SheepDog-One's picture

230 now.....the shitshow slouches forward....onward.

Tue, 12/16/2014 - 12:42 | 5558686 trulz4lulz
trulz4lulz's picture

I dont understand any of this. isnt this an act of war? How can they suspend trading of a currency that is pegged to a decent industrial economy in a country with little debt? This is creepy.

Tue, 12/16/2014 - 12:49 | 5558718 Ginsengbull
Ginsengbull's picture

The power to declare war rests with congress, not the bankers.

 

Of course, you realize that I'm being sarcastic.

Tue, 12/16/2014 - 14:07 | 5559137 Ms. Erable
Ms. Erable's picture

Nobody declares war anymore; international bankster rules are the same as prison rules.

 

*there are no rules - for those who don't know.

Tue, 12/16/2014 - 12:50 | 5558726 disabledvet
disabledvet's picture

Poopie Inc flees to London where they stored the fifty tons of gold they bought with what used to be called "Russia's foreign exchange reserves."

Rubles for everyone else!  Hooray!

Tue, 12/16/2014 - 12:50 | 5558731 TheGreatRecovery
TheGreatRecovery's picture

Old Chinese proverb: "business is war".

Tue, 12/16/2014 - 12:53 | 5558742 TheGreatRecovery
TheGreatRecovery's picture

Old Russian proverb: "Little thieves are hanged, but big ones escape."

Tue, 12/16/2014 - 13:17 | 5558865 Herd Redirectio...
Herd Redirection Committee's picture

Small time thieves are allowed to operate for the time being, to centralize the wealth (that is, get all their loot in one place).  Then, the big boys come in and take the spoils, and your operation.

Small fish gets eaten by the bigger fish, which in turn gets eaten by 'the Whale'.

Rothschilds/Illuminati don't do 'start-ups'.  They do 'buyouts'.  Which, if you had control of a printing press, makes perfect sense.

Tue, 12/16/2014 - 12:56 | 5558766 Buckaroo Banzai
Buckaroo Banzai's picture

Russia is a commodity economy, not an industrial economy.

Since the banks control commodity prices, Russia is getting fucked.

I am not convinced this is an attack on Russia, per se. Russia might simply be collateral damage, with the goal here being to either book massive profits, or prevent some kind of horrible derivatives collapse.

Of course, from Russia's point of view, it's all the same.

Tue, 12/16/2014 - 13:00 | 5558789 Winston Churchill
Winston Churchill's picture

Was.

Its not the 1980's anymore.

Tue, 12/16/2014 - 13:18 | 5558876 Herd Redirectio...
Herd Redirection Committee's picture

With the amount of engineers in Russia, I don't think you can call it solely  a commodity producer.

Who else has gone to outer space, other than America?  Who has ICBMs, other than America?

Tue, 12/16/2014 - 13:37 | 5558961 Buckaroo Banzai
Buckaroo Banzai's picture

In order to be a real industrial economy, you have to export things with real value-added. What do those engineers produce for trade in the free market, besides weapons, warplanes, and rockets?

I have literally never seen a Russian-branded industrial or technological good for sale, either in the US or Europe. Maybe they sell products in Asia but I've never heard of it.

Tue, 12/16/2014 - 13:57 | 5559090 Herd Redirectio...
Herd Redirection Committee's picture

What, like software?  Web sites?  Apps? Viruses and anti-viruses?  Alternatives to SWIFT?

I like how you said 'besides weapons, warplanes and rockets'.  What does America's manufacturing look like, sans those three?

Tue, 12/16/2014 - 14:30 | 5559257 Buckaroo Banzai
Buckaroo Banzai's picture

LOL, who said anything about the US economy? It's absurd. But we still do export stuff.

As far as software, I don't know of any commercially-available branded software products out of Russia. Where is the Russian Oracle, or Microsoft? Or IBM, even? They do a lot of contract coding but that doesn't count as a product, only an export of services. Websites-- what Russian website is used internationally, like Google, Facebook, yahoo, Salesforce, etc etc?

As far as Russia's version of SWIFT-- can it go live first, please? And deliver value for several years, before we start touting it??

You aren't making a convincing case.

Tue, 12/16/2014 - 16:02 | 5559673 Clarabell
Tue, 12/16/2014 - 14:04 | 5559113 MrSteve
MrSteve's picture

China and India are two recent space cowboys. You can look it up, the BBC reported

India's Mars Orbiter Mission (MOM) - an indigenously made unmanned robotic mission weighing 1,350kg (2,976lb) - was launched from the rocket port at Sriharikota on the coast of the Bay of Bengal on a balmy afternoon on 5 November last year.

Tue, 12/16/2014 - 19:20 | 5560614 Herd Redirectio...
Herd Redirection Committee's picture

"Laika", 1957.

Tue, 12/16/2014 - 13:12 | 5558846 CrazyCooter
CrazyCooter's picture

Because this is what our markets really are ... sad as that may be.

Someone, with zero interest financing, was leveraging to the hilt shorting the ruble ... and building momentum in that direction. Then, as a response, the CBR jacked interest rates WAY up ... on Monday night at 1am.

So, that leverage trader/institution was about to be destroyed and the only way they could cover is closing down all USD/RBL trading and covering with those forced sales. That is how connected this trader/institution is.

Which means, when shit gets real, losses are yours and gains are theirs and they will happily change the rules when it suits them.

They don't care that the probably started a hot war either.

And these ass clowns running the show are PRECISELY the problem with America, which by the way is still a great country.

Regards,

Cooter

Tue, 12/16/2014 - 13:20 | 5558881 Herd Redirectio...
Herd Redirection Committee's picture

So if this country starts getting bombed, because these internalional banksters are seeking refuge in the US of A, is it still a great country?  Kick these fuckers out!

Tue, 12/16/2014 - 16:24 | 5559785 noben
noben's picture

"DOW up 150 points. Fucking unreal!"

Well, yeah, you can do this when you use your GRC to keep injecting "money out of thin air".

"Money for nothing, and checks for free... ah that ain't working, that's the way you do it.  Them guys ain't dumb."

Tue, 12/16/2014 - 12:24 | 5558565 mayhem_korner
mayhem_korner's picture

 

 

Involuntary displacement is never comfortable.

Tue, 12/16/2014 - 12:25 | 5558574 dbystrowski
dbystrowski's picture

Putin should create the Russian BitKoin...

Tue, 12/16/2014 - 12:25 | 5558576 LeisureSmith
LeisureSmith's picture

ZH must be setting some kind of record for readers per minute today.

Tue, 12/16/2014 - 12:25 | 5558583 Truther
Truther's picture

Got Gold BITCHEZZZZZ?

Tue, 12/16/2014 - 12:30 | 5558585 MsCreant
MsCreant's picture

This is not just currency war. Holy fuck.

"It's getting hot in here, so take off all your clothes."

Tue, 12/16/2014 - 12:35 | 5558639 CrazyCooter
CrazyCooter's picture

Yup. This can escalate very quickly. It is also early in the week, so that hike to 17% was probably timed to give markets the most time to freak out before a weekend.

I don't think this is going to settle down ...

Regards,

Cooter

Tue, 12/16/2014 - 12:27 | 5558593 fascismlover
fascismlover's picture

What happens when you corner a rattlesnake or a scorpion?  Most here think they slink away in shame.

Tue, 12/16/2014 - 12:33 | 5558635 sunnyside
sunnyside's picture

Amd when you corner a bear?

Tue, 12/16/2014 - 16:07 | 5559691 Clarabell
Clarabell's picture

If you encounter a bear in the woods, remember you don't have to be able to out run the bear only the people you're with.

Tue, 12/16/2014 - 17:48 | 5560210 Calmyourself
Calmyourself's picture

Thats why I carry a .22 revolver in bear country when hiking with acquaintances.. Shoot the guy I like least in the kneecap and walk away, the bear knows what to do..  .22 plenty of gun.

Tue, 12/16/2014 - 12:27 | 5558595 ZeroPoint
ZeroPoint's picture

I am sure this is the result of normal market conditions....

Tue, 12/16/2014 - 14:10 | 5559159 HowdyDoody
HowdyDoody's picture

It's Groundhog Day at the Fed and the calendar is stuck on April 1.

Tue, 12/16/2014 - 12:27 | 5558597 Ness.
Ness.'s picture

US stocks are just stoopid.  This is global ecomonic warfare, for now.

 

Can you feel the wealth my bitchez?

Tue, 12/16/2014 - 12:37 | 5558649 Stoploss
Stoploss's picture

Why, yes! We feel it!!!

Like a red hot poker that has been rammed up our asses!

Tue, 12/16/2014 - 12:30 | 5558609 sudzee
sudzee's picture

Is this a US default on treasurys held by the Russian cb??

Tue, 12/16/2014 - 12:33 | 5558626 MsCreant
MsCreant's picture

No.

Shit just got real. The hot war is on.

Tue, 12/16/2014 - 12:30 | 5558614 alexcojones
alexcojones's picture

"They talk, and they always Lie."  - Leo Tolstoy

Tue, 12/16/2014 - 12:32 | 5558621 Tsar Pointless
Tsar Pointless's picture

Apparently, this, too, is BULLISH!

Tue, 12/16/2014 - 12:32 | 5558622 youngman
youngman's picture

For you guys that think you will be able to get out of the market when we tank...remember this..they will just shut it down so you cant do anything....and you just sit there and lose everthing...free markets my backside...what a joke they have become...and the only true safe haven is negative today...

Tue, 12/16/2014 - 12:37 | 5558647 CrazyCooter
CrazyCooter's picture

Precisely why I was asking about TreasuryDirect in a bond thread the other day. I don't have much, but I would like to keep what I do have when they blow this fucker up and force the losses on everyone else.

They will just shut it down, mark everything to zero, and keep the funds.

Regards,

Cooter

Tue, 12/16/2014 - 13:30 | 5558932 Herd Redirectio...
Herd Redirection Committee's picture

Thats why we have encouraged fellow ZHers from 'playing the [trading] game'.  You know you are swimming w/ sharks, you know you are dealing w/ people who are trying to screw you, you know they can change the rules at any time...  The question is, why?  Because you think you are an insider too?  Because you think you can 'get while the getting is good'?

 

Tue, 12/16/2014 - 12:41 | 5558687 SheepDog-One
SheepDog-One's picture

It's called getting Corzined, there will be no chance for escape.

Tue, 12/16/2014 - 13:11 | 5558851 Bobportlandor
Bobportlandor's picture

I bet the same thing happens with silver and gold

Now you may not lose, but you will be hamstrung

Tue, 12/16/2014 - 16:30 | 5559800 noben
noben's picture

"...free markets my backside...what a joke they have become...and the only true safe haven is negative today..."

So?  Thank your lucky stars for the Blue Light Special, BTFD and dive into the "only safe haven".  For When Money Dies

Hedge, bitchez!  Hedge.  Today we get zee Precious, for tomorrow startst "The Battle of the Five Armies".  Coming to a 'theater' near you.

Tue, 12/16/2014 - 12:33 | 5558624 lakecity55
lakecity55's picture

Damn, I have over a thousand bucks (1 yr ago  that is) in rubles in the safe. I wonder if I can trade them for Yuan?

Or, hold on to them, so if the dollar goes to zero, they will return to value...

Fuck you, Ziogarchs! LC is not happy.

Tue, 12/16/2014 - 12:32 | 5558630 mantrid
mantrid's picture

Russia got what Japan wanted

Japan got what Ukraine wanted

China 's trying what Eurozone's fighting against

this is a centrally planned circus isn't it

Tue, 12/16/2014 - 17:14 | 5560009 tenpanhandle
tenpanhandle's picture

Sounds like the secret santa festivities at my family's Christmas gathering.

Tue, 12/16/2014 - 12:33 | 5558632 philosophers bone
philosophers bone's picture

Noone here knows what is going on, but it CANNOT be a coincidence that this is happening at the same time as RIFT.  Could this be Russia "isolating" itself and trying to get others to come play in its sandbox?

It seems way too early to speculate who the "winners" and "losers" are?

Tue, 12/16/2014 - 12:37 | 5558662 CrazyCooter
CrazyCooter's picture

If settlement systems split, global trade is going to really fucking tank.

Here comes the deflation train ... chooo chooo ... better GTFO of the way!

Regards,

Cooter

Tue, 12/16/2014 - 15:47 | 5559610 newworldorder
newworldorder's picture

Trying to isolate Russia, China, India, or any country with nuclear weapons or a large population is a FOOLS game. Other that wringing out financial concessions it will not work. If nothing else, technology has leveled the playing field.

Tue, 12/16/2014 - 12:36 | 5558645 Quinvarius
Quinvarius's picture

Team Obama working hard to destroy the global financial system.

Tue, 12/16/2014 - 12:40 | 5558672 geekz_rule
geekz_rule's picture

you dont actualy believe that do you? that the clown has anything at all in the role of leadership, or even input? he probably isnt allowed to choose which boxer's to wear.. never mind actually participate in decisions. like shrub, etc.. hes just a puppet.

Tue, 12/16/2014 - 12:53 | 5558739 NaiLib
NaiLib's picture

Not Obama himself but "team Obama". This whole thing started with a political move of letting SA smash the oil price. Everything is done in an effeort to try and squeeze Putin out of  Ukraine. It will not work and it cost "team obama"  the whole Fracking Industry. Now they stopped RUB nt order for JPM and others to quietly steal RUB from wherever they can when trading is "stopped". "Market"? Bah..

Tue, 12/16/2014 - 14:05 | 5559131 Monty Burns
Monty Burns's picture

Not 'Team Obama' either. It's all about his makers and handlers without whom he'd still be a community organizer in Chicongo.

Tue, 12/16/2014 - 12:37 | 5558663 BandGap
BandGap's picture

Well then, it happens this week. Hopefully before Friday.

When you're neck is in a choke hold your options are limited. Russia pivots to China, that would be my guess. It's not like other countries aren't in the same situation.

Tue, 12/16/2014 - 13:20 | 5558887 Cathartes Aura
Cathartes Aura's picture

"this week" has been waiting to happen, and here it is. . .

I know most of you here dismiss alternative points of viewing, but for those who like to include more information in decisions, in watching outcomes. . .

Uranus is currently retrograde in Aries - that is, moving "backwards" in the degrees previously covered.  on 15th, yesterday, Uranus hit a perfect square to Pluto in Capricorn - one more exact hit to go, March 17 2015, at 15dg, which is considered a strong "indicator" of "changes" (30dg to each sign, 15 is "halfway").

and this Sunday 21 Dec. 2014 is the Winter Solstice, 0dg Capricorn, the sign of "business, money, power over, the Father, government" - what day was the Fed born? - Winter Solstice 1913.  coincidence, I'm sure.

this Sunday, retrograde Uranus, with all that Mars energy held back for months, will go "direct" at 5:45 Eastern Time, NY market time. . . and 18 minutes later will be the 2014 Winter Solstice, Sun moves into 0dg Capricorn.

oh, and Putin's birthday?  Sun at 14dg Libra, squared by Uranus 18dg Cancer.  there's a lot more I could write about how Putin's natal chart, etc. is strongly affected over the incoming 2015 year.

information is awareness, or it can be ignored/ discarded.  choices, consequences.

Tue, 12/16/2014 - 13:29 | 5558924 WillyGroper
WillyGroper's picture

Pi are square...

No, pi are round, cornbread are square...

I wish I understood this stuff better. ;)

Tue, 12/16/2014 - 13:32 | 5558935 BandGap
BandGap's picture

I upvoted you for checking out Uranus.

Tue, 12/16/2014 - 13:42 | 5559006 Cathartes Aura
Cathartes Aura's picture

you have your charts, and the information they provide you.

I use my charts, and share the information they provide.  nothing to be scared of, it's just some math, some geometry, and some archetypes that predate you, this named State, and most others created for theft and power over all.

but sure, it's all lulz going forward. . .

Tue, 12/16/2014 - 14:21 | 5559215 UselessEater
UselessEater's picture

well this stuff seems important to the inbred psycho's but ridiculed as a "science" among the masses so we miss out on the "cycles" they follow to magnify their activities....I see little point following the "science" THEY have taught us as we know the fundamentals are broken -so why not at least consider how the freaks think and plan? Its simply another Situational Analysis test to add to the list and if they do not include it in your business class, then its probably more relevant than we know.

Once you research this rabbit hole, our 'knowledge' and 'discovery' looks rather manufactured and guided by the very Foundations who are actively directing us into limited thinking guiding us to failing to comprehend the rabbit hole of fuckery on a global and national scale.

Remember sheeple, Think Global, Act Local, meanwhile we'll Run U Globally & F'ck U Locally

Tue, 12/16/2014 - 16:03 | 5559672 Cathartes Aura
Cathartes Aura's picture

you make some important points, information one would think the supposed "red pill" promo team would take into considerations. . .

"they" put "star signs" on the comic pages back when folks bought news-papers for informations - there's the first tell.

then "they" promoted "mystic meg" types of "psychic astrologers, mostly women, but the more famous that got featured on TeeVee were often men, often just a wee bit "gay".  still, it was all very be-littled and mocked.  another obvious tell.

and yes, the majority of "mainstream popular" promoters of "astrology" are just that, mainstream promoters, selling something they've manufactured for profits.

 

And then there are more serious practitioners of what has been an Art for centuries, who were advisors to kings 'n' queens, and other labels of leaders who own humans, and farm them for profits. astrology was considered esoteric information, not to be shared with the masses. 

and of course, those who blindly follow herd-mentality, and do not question outside the box'd will THINK and ACT accordingly.  those who believe in a single-reality, and cannot fathom the myriad, parallel realities, co-existing, simultaneously.

and none of this matters a bit.  as we're all about to experience, real-eyes.

Tue, 12/16/2014 - 14:38 | 5559292 JohninMK
JohninMK's picture

Back in time some kept their detailed birthday data very close to themselves. They believed that it could be used as a weapon against them.

Tue, 12/16/2014 - 13:45 | 5559010 Conax
Conax's picture

"Uranus is currently retrograde in Aries -"

I'm an Aries and my anus ain't went nowhere.

Whatyoutalkinbout, Willis?

Tue, 12/16/2014 - 14:02 | 5559103 Cathartes Aura
Cathartes Aura's picture

posted December 16 2014 at 9:11am ET:

Taliban Gunmen Kill 146 at Pakistan School, Mostly Students

The dead included 123 male students, as well as nine staff members. . .

“A lot of the kids that go to this school would have parents in the army who are taking part in the operation,” Hamid said by phone from London. “It’s an attempt to bring the conflict into the homes of the military, especially in Peshawar.”

 

Uranus in Aries, the God of War.  incoming.

Tue, 12/16/2014 - 14:24 | 5559234 savagegoose
savagegoose's picture

DEC 22 is a solstice new moon. birth of a new age.

 

Tue, 12/16/2014 - 16:11 | 5559702 Cathartes Aura
Cathartes Aura's picture

with Uranus at 12dg Aries going direct a mere 18 minutes prior to the Solstice.

and Pluto at 12dg Capricorn, which is an exact 90dg square, archetype: tension, incompatible energy that only resolves over time, rarely "peacefully". . .

the unpredictable gods of war meet those who would be kings, one ruler over All.

 

there. will. be. blood.

Tue, 12/16/2014 - 16:41 | 5559855 noben
noben's picture

Men won't truly be free until they shed the physical yoke of kings and psycho-emotional yokes and superstitions of priests, rabbis and charlatans.

Freedom and Slavery both start in your head.  All else is lies and deceit.  Alternatively...

"Hold them by the balls, and their heads and hearts will follow" is a time-proven strategy and tactic.  Unless there's a "Rising Venus-penis in Uranus".

Tue, 12/16/2014 - 12:37 | 5558664 SheepDog-One
SheepDog-One's picture

Russia could counter by dumping $1 trillion in UST's anytime now, it's getting to or at the point of 'what do you have to lose?' now.

Tue, 12/16/2014 - 12:53 | 5558738 Wizard of Ozman
Wizard of Ozman's picture

Didn't Belgium buy them all last summer?

Tue, 12/16/2014 - 12:54 | 5558748 Jethro
Jethro's picture

EuroClear (in Belgium) purchased them for a "client".

Tue, 12/16/2014 - 13:02 | 5558790 MsCreant
MsCreant's picture

Biggest check kiting scam, evar!

Tue, 12/16/2014 - 16:46 | 5559891 noben
noben's picture

BIS, Fed, WB, ECB, BOJ:  "I'll cover.  No, I'll cover.  No, I'll cover..."

Just one big circle jerk of check kiting.  "You feel me now?" (line from BTFD clip).

Tue, 12/16/2014 - 13:22 | 5558897 chubbar
chubbar's picture

How much gold do you think putin could buy with that 1 trillion? Wonder why he hasn't locked up LBMA and/or Comex? He could buy every ounce of silver in inventory for a few measley billion so it's kind of hard to think of reasons this hasn't been done by one of these countries under attack?

Tue, 12/16/2014 - 13:32 | 5558944 BandGap
BandGap's picture

I could be wrong but I think they have been dribbling these out over time to support the ruble. I believe they have about 100 billion, not a trillion.

Tue, 12/16/2014 - 13:36 | 5558964 BigJim
BigJim's picture

 Russia could counter by dumping $1 trillion in UST's anytime now, it's getting to or at the point of 'what do you have to lose?' now.

Maybe I'm wrong here but last time I looked Russia only had ~$120B in USTs. That won't go far... but they could buy up all the rubles in foreign hands and engineer a short squeeze maybe?

Tue, 12/16/2014 - 15:51 | 5559635 bid the soldier...
bid the soldiers shoot's picture

 

I was thinking the same thing.  Ruskis force the price of the ruble way down to get more bang for their bucks. Generate panic selling.  Old Wall Street trick. Yum Yum.

And who knows?  Maybe the Chinese will come charging into the market with their fire crackers and $2 trillion USD?

Soon the ruble is up on Tiangong along with all the other weapons the Chinese and Russian have in LEO.

(Where's Terry Southern when you need the sequel to 'Dr Strangelove?') 

But we won't know who won the game till it's over.

Except for ZH's big swinging dicks like tarabel, Amerikan Patriot and Jumbotox.

Tue, 12/16/2014 - 12:42 | 5558674 Typing Typer
Typing Typer's picture

"...their positions will be forcibly shut in moments moments."

 

Shut in moments moments, now that IS serious!

Tue, 12/16/2014 - 12:42 | 5558691 Ulterior
Ulterior's picture

ruskies got fried at last,

Soon exchange tabloids will have to add additional character to fit the rate

Tue, 12/16/2014 - 12:45 | 5558708 SheepDog-One
SheepDog-One's picture

Silver -5% oh my fuck truly tragicomedy of the insane.

Tue, 12/16/2014 - 12:54 | 5558750 IridiumRebel
IridiumRebel's picture

Market Chicanery.
Any vestiges of free markets have effectively been shown to be horseshit.
It's Orville Redenbacher time...

Tue, 12/16/2014 - 12:55 | 5558752 kurzdump
kurzdump's picture

Sir, I guess we have won the financial war.
Shall we head over to the nuclear weapon control room now?

Tue, 12/16/2014 - 12:55 | 5558754 STG5IVE
STG5IVE's picture

'moments' are fast, but 'moments moments' are unprecedented!

Tue, 12/16/2014 - 12:55 | 5558756 dsty
dsty's picture

wonder what is going on in the pentagon economic war room?

Tue, 12/16/2014 - 12:57 | 5558767 London Dude Trader
London Dude Trader's picture

You're missing the point. The ruble is rebounding because oil has bounced off the lows, as I expected today.

It's all to do with short covering and position squaring in crude oil: both Brent's front month contract and NYMEX WTI options expire in about three hours. 

Tue, 12/16/2014 - 12:57 | 5558768 Catullus
Catullus's picture

What?

How could it not be trading?

It's money for money. How could it not be liquid at some price?

Did the ruble just get demonetized?

Where are the market makers?

What the fuck?

Tue, 12/16/2014 - 13:06 | 5558812 MsCreant
MsCreant's picture

Fiat currency is fiat, by decree (or undecree). 

Tue, 12/16/2014 - 13:10 | 5558845 Catullus
Catullus's picture

Agreed.

But even dogshit has a price.

I have a degree in international political economy. I've never heard of this. A currency halts like after a country is invaded and the opposing government is shut down.

Otherwise you get like a hyperinflation. But at least you get a fix in hyperinflation.

Tue, 12/16/2014 - 13:33 | 5558948 MsCreant
MsCreant's picture

Reading through these comments, some folks have pointed out that it is not halted everywhere. They are talking about a split system. That would be the "market" response that you were looking for if that is where this heads to. 

My guess is we are in uncharted waters. If things are as rigged as folks believe, if fundamentals are not underpinning these moves, then you will need to throw out some of what you "know" from your education. 

I have a Ph.D. but not in this. Technology is making things possible that were never conceivable before, HFT and all the crimes that come with which frontrun regulations and regulators for instance. I guess what I am saying is I have had to throw out a whole lot about what I thought I knew because there is a Kuhnian paradigm shift underway. Or a postmodern one, more to the point. 

We keep calling all this wrong (Why doesn't gold go up in a crisis?) because we keep expecting markets to respond to fundamentals. And actually, it is. We just don't have an awareness of what those fundamentals are, and even if we did, they move too fast for most of us to respond to. We need to be able to extract macro patterns from the micro, but tracking the micro is difficult. Add in nontansparency, and we really do have a difficult job.

Tue, 12/16/2014 - 14:04 | 5559120 Herd Redirectio...
Herd Redirection Committee's picture

Don't sell your gold for USD.

Sell it for 'new Dollars', or better yet, pledge it as collateral when you make your first 'new Dollars' loan.

Your gold (if you have any) is for a post-USD world.  IMO.

Tue, 12/16/2014 - 15:16 | 5559468 JLee2027
JLee2027's picture

My guess is we are in uncharted waters. 

 

Yep. The Fed can't fix this one.

Tue, 12/16/2014 - 18:34 | 5560425 Alexandre Stavisky
Alexandre Stavisky's picture

Enjoy the playground.  Aim small miss small.  Keep to the strait and narrow, yellow brick road.  Pilot to copilot, we're deviating from course only slightly to avoid weather.  X times one thousand.  Intended destination, the Promised Land.  Unfortunately all our shortcuts have expended necessary fuel.  Today, allegory and algorithm, only fuel left complete deceit.  Don't think well make it....

How to be Japan?  Swap currency several months ago, variable to fixed (rigged!!), insert whichever available funds, Kuroda keeps plates spinning.  "How to make a zero stated return double digit nomial!"(Yeah! live anothe day!).  How to be Russia?.   Sweetheart with core population China, India, fight SWIFTly, cut or redivert gas & oil strategically; currently currency very inauspicious.  Paper, paper, everywhere but nary a drop to DRIN<K? And Estados Unidos has Never Earning companies with all time highs on their tertiary, (piconary?) paper give-n-takes?  Commodities, Reals?  Blows strawberry.  Calling Wendy and Alice!

All while we whiles out our simple lives! Under the dominion of the Ishtar gates.  80 years your toil and exertion timeline, date stamp on your heel really only forty true active.  Most men can't number their joints and muscles or clearly explain the rendition of the retina, but deny Creator?  Sign me up!  Get me to the exchange.  Sennacherib am I, and I want my entitlement and birthly right.

Discovering and harnessing the sustainable art of living, that is the ultimate aim of mankind.  Poorer relations seek to exploit, create slavery mechanisms, profit by hate and contention.  Eat caviar, scooping it to their mouths with scapulas even brainpans of their enemies.  Money but an object to attain in order to attain their final aim.  A death's cult.  Life, liberty, pursuit of happiness--a comedy of bellylaughing for the current navigators.  Princes of control and contention. Peace has no profit or leverage.  Happiness no angle.

Power, dominion, control of the central Eurasian riskpiece--0h delicious. But who established peace, kind principality, carefree existence, constant tending to small gardens?  Who most powerful?  Caiaphas, Caesar, Pontius Pilate, or thorn-crowned INRI?  "By very small beginnings do great things become!"  Only by burning the village can we save it.

And diseases grown desperate are by desperate means relieved or they die ignominiously!

Where's your wallet?  And where's your soul?  If you have one, perhaps.  Man without money is nothing.  But what rapscallion alchemist makes the daily and incremental determinations which establish value upon that paper and ink you so worship?  Some small day he shall walk away.

 

Tue, 12/16/2014 - 12:59 | 5558774 Keltner Channel Surf
Keltner Channel Surf's picture

Headlines from somewhere, in a semi-parallel, benevolent universe:

“VWAP algos will be halted until further notice”

“Due to suffering, the H1N1 virus will be halted . . . similary, reruns of Laverne and Shirley will no longer be shown …”

Tue, 12/16/2014 - 13:19 | 5558882 Bollixed
Bollixed's picture

". . . similary, reruns of Laverne and Shirley will no longer be shown …”

This just in... Ferguson goes Nationwide..

Tue, 12/16/2014 - 14:57 | 5559380 RichardP
RichardP's picture

And Nationwide is On Your Side doncha know.

Tue, 12/16/2014 - 13:01 | 5558783 NuYawkFrankie
NuYawkFrankie's picture

Neocons aiming to "gift the goy" World War this Christmas.

Tue, 12/16/2014 - 13:03 | 5558794 dsty
dsty's picture

i love it when you talk yiddish

Tue, 12/16/2014 - 14:22 | 5559231 Monty Burns
Monty Burns's picture

Careful Frankie or you'll end up sharing a ZH cell with Francis Sawyer and Tony Wilson!

Tue, 12/16/2014 - 16:38 | 5559852 Proofreder
Proofreder's picture

Gone ? !  Francis and Tony ?

How can that be ?????????????????????????????????

Good fucking riddance !

Tue, 12/16/2014 - 17:15 | 5559897 noben
noben's picture

Well, the Festival of Lights (pun intended) can't be that far off now, right?

I checked it out, and it's Dec. 16 (today) - Dec. 24 this year.  Right on schedule, it seems,

Tue, 12/16/2014 - 13:00 | 5558785 RisingSun
RisingSun's picture

RSX is bouncing, I covered my short. No longer short RSX. Gotta respect the price action.

Tue, 12/16/2014 - 13:17 | 5558867 Bay of Pigs
Bay of Pigs's picture

I was going to ask you last night....what is the Latvian currency doing these days? I tried to look it up and got nowhere with charts.

Tue, 12/16/2014 - 13:22 | 5558895 RisingSun
RisingSun's picture

We got euros.

Tue, 12/16/2014 - 14:07 | 5559149 HowdyDoody
HowdyDoody's picture

No, the Euros have got you - by the short and curlies.

Tue, 12/16/2014 - 13:01 | 5558791 fascismlover
fascismlover's picture

I am short weight-loss companies

Tue, 12/16/2014 - 15:25 | 5559494 bid the soldier...
bid the soldiers shoot's picture

.

Tue, 12/16/2014 - 15:24 | 5559497 bid the soldier...
bid the soldiers shoot's picture

 

What about Funeral Parlors?


Are you long or short them?

Tue, 12/16/2014 - 13:02 | 5558792 Johnny_is_alrea...
Johnny_is_already_taken's picture

I thought Russia (and china) had trillions upon trillions of US dollars in reserves that if they dumped could destroy the US dollar overnight.

 

That's the story that have been sold to me in the last few years

 

Someone is lieing and I kill liers

 

Tue, 12/16/2014 - 13:08 | 5558826 10mm
10mm's picture

Saving the kaboom for later.

Tue, 12/16/2014 - 14:21 | 5559212 Monty Burns
Monty Burns's picture

Don't know why you got all the downs.  Why can't Russia offload billions of Treasuries to prop up the Rouble now?

Seems a reasonabe question.....

Tue, 12/16/2014 - 18:20 | 5560355 Calmyourself
Calmyourself's picture

Reasonable questions, rational discourse, evidence all prior to ABC taking this place over.  Now the top posters use photo propaganda to spread their narrative.   So no Monty not a reasonable question, the narrative has arrived on ZH..  A boot stomping on a human face forever...

Tue, 12/16/2014 - 13:03 | 5558801 no1wonder
no1wonder's picture

From Pravda:

Meanwhile, Russian banks already start ordering five-digit electronic displays for exchange offices. The currently used four-digit displays will not be able to display foreign currency rates higher than 99.99 rubles.

 

Tue, 12/16/2014 - 13:04 | 5558802 Sub MOA
Sub MOA's picture

If putin nationalizes the RCB  then we'll see if anythings "differnt this time"  otherwise this is all more of the same rothchilds funding and playing both sides for their profit not yours.   same as it always was ...unless vlads got balls and is really against the oligopolistjewratbastards...

Tue, 12/16/2014 - 13:05 | 5558809 kurzdump
kurzdump's picture

Looks like the SNB is quite busy.

Tue, 12/16/2014 - 13:07 | 5558829 bankonzhongguo
bankonzhongguo's picture

Look for another "provocation" over the Baltic states.

NATO installed some heavy hardware into Ukraine over the last weeks as did some more pre-positioning in Poland and Bulgaria.

This all cycles around Ukraine.

I think Putin lost his timing and now has to run a full charge insurgency instead of a conventional one.

Ukraine is going to be in play for a long time.

This will push Russia closer to Iran and China (Not that they wanted or needed any more help).

Frankly, if Russia wants to survive economically it needs to be the new Switzerland in terms of bank secrecy. There must be a physical space for the dark pools of capital and the US destroyed all of that after neutering the Swiss and Caribbean nations all these years.

Minimally I would expect the flow of gas to Germany this winter to be impacted by "eastern insurgents."

These tats need some tits.

Tue, 12/16/2014 - 17:00 | 5559950 noben
noben's picture

Hmm... some good conjectures, IMO.  But I think it's less of the case of Putin not having the nerve, than the Chinese and Russian Oligarchs holding him back.  Lest their short-term profits suffer.

The Chinese want to eat their cake and (still) have it too:  A slow, steady economic takeover from the US, via the Eurasian Silk Road.  Except that the Five Eyes and the Gulf Oil States won't stand for it.  They won't care is Russia is hurt and weakened, and if they are to be 'destroyed', China wants it to happen economically, not militarily,  That way, they still hope to trade with Europe and get cheap oil from the ME.

Watch what (multi-faced) China DOES, not what it says.

Tue, 12/16/2014 - 13:08 | 5558830 Baa baa
Baa baa's picture

I dunno, have you seen the SIZE of that f*****g cat!!!

Tue, 12/16/2014 - 13:07 | 5558833 Stumpy4516
Stumpy4516's picture

Previously many posted that a weak RUB was a help to Russia and showed how Putin was playing chess.

Over the past weeks they continued to post that Putin was protecting Syria and would never let it fall.  Blind to the destruction and that jets now fly to the outskirts of the capital and bomb targets.

The talk about how Putin could destroy the US by going to a gold standard.  But he doesn't.  Yet they also talk about how NOW he's mad, NOW he gonna do something.  Going to a gold standard has too many land mines, Putin will not do it and it will not wipe out the US.  Otherwise, why has he not done so?

They claim the new SWIFT alternative will be equal to SWIFT.  The alternative will handle Russian funds, at some point it may do so well, but I not do not see global impact. 

No matter what they claim Putin is wiinning, the appearance of inaction and loss is just Putin playing chess. 

No matter what they claim NOW Putin is going to do something big. 

Putin works for the elite in Russia.  They took easy profits instead of making Russia stronger over the past 10 yrs.  The SWIFT alternative should have been built at the same time as SWIFT.  The pipelines to China and an alternative route around Ukraine should have been in place years ago.   Putin never forced the reinvestment in Russia's economy but allowed the elite to rake in greater profits.  These volatile movements show Russia's internal ecomomic stability may become very bumpy.  There are signs covert act of terrorism are increasing in Russia, we will see if that continues. 

Putin does not act.  Putin is working to slow the decline enough that the west will negotiate with him and the elites to allow them to maintain political control while the west ravages the resources of Russia or to allow them safe haven (and their riches) if Russia collapses once again.

The fact that Russia in in this position and so far behind building it's alternative and ecomomic strength shows Putin is not a master chess player.  When times were good they put extra profits in their pockets, now they are weak and it may be too late.

Iraq1, Iraq2, Libya, Syria, Iran, Serbia, Kosovo, Cyprus, Ukraine and on and on.  I fear Russia's new friends in South America are in for trouble soon as well. 

Tue, 12/16/2014 - 13:31 | 5558926 JR
JR's picture

Americans are walking freely into the slaughterhouse - relying on politicians and bankers who lie, cheat and steal not only their assets but their freedom, i.e., their country.

Those who value government transparency might be interested in this quote from a November 16, 2000, New York Review of Books book review posted at the Center for Defense/Johnson’s Russia List regarding…
Red Mafiya: How the Russian Mob Has Invaded America.


"Whatever the American laws, a successful campaign against Russian mobsters will require the cooperation of other governments, particularly those of Russia and Israel, the two countries that are now the principal residences of most Russian crime bosses ... 'Of all the nations where the Russian mob has established a presence, none has been more deeply compromised than the State of Israel,' [Robert] Friedman writes, adding that the Russian mafia has 'become a grave threat to the stability of Israel.' Although this may be a bit hyperbolic, the Russian mafia does have a strong, safe base in Israel -- a story that American and Israeli journalists have largely overlooked. One FBI report observes, for example, that most members of Mogilevich's criminal organization have Israeli passports. And Jonathan Winer told Friedman (when Winer was still the State Department's crime expert), 'There is not a major Russian organized crime figure whom we are tracking who does not also carry an Israeli passport.’”

Tue, 12/16/2014 - 13:41 | 5558992 WillyGroper
WillyGroper's picture

Don't know where I got it but yesterday I read the bankster in London that was impaled was off'd by Ruskies he owed money to big time.

Play with the bull, get the horn.

Tue, 12/16/2014 - 13:44 | 5559017 Herd Redirectio...
Herd Redirection Committee's picture

I like it.  The Russian Mob has infiltrated Israel.  Completely wrong, but it is amusing.

Israel infiltrated the Russian Mob, peeps.  Or, they were the Russian Mob (and KGB) and the Soviet, all along...

Tue, 12/16/2014 - 14:13 | 5559179 Monty Burns
Monty Burns's picture

I think that's what JR is saying. "Russian Mafia" is MSM-speak for Jewish criminals who originated in Russia.

Tue, 12/16/2014 - 14:15 | 5559185 Herd Redirectio...
Herd Redirection Committee's picture

Hmm, my comment was bumped off the front page, and got some quick downvotes....

Tue, 12/16/2014 - 14:43 | 5559322 Chump
Chump's picture

Cause Jeewwws, right?

Tue, 12/16/2014 - 14:19 | 5559210 Stumpy4516
Stumpy4516's picture

JR, I had forgotten about those stories and reports.  What I have noticed is that Putin never says negative statements about Israel.  Putin never declares the link between US and Israel and he has not even sought to expose the connections between the economic destruction in UK and Israel passport holders.  He questions the politicians in the US and their behavior but he does not expose all the dual citizen (Israel) passport holders in the administration and in control of govt agencies.

He is critical of the US press but will not mention that it is jewish owned and the connections to Israel.

Wonder if this is part of his strategy.  Do not offend Israel and do not allow Syria to shoot down Israel's jets.  If Russia fails economically these jewish/Russian mobsters will be the front men for Israel taking control of Russia's resources.  Putin and the elite will cooperate with them and be rewarded.  Makes some sense that Israel would not want the US to be their middle man again as the US itself might fail and the citizens of the US somehow manage to keep the plunder from Russia.  Just one possibility to watch for if it unfolds.

Maybe Putin let WUK be taken to keep Israel satisfied but trys to negotiate for the east.  While being firm on keeping the naval base.

Tue, 12/16/2014 - 15:33 | 5559547 JohninMK
JohninMK's picture

There is far too much possibility in what you say. Having exploited Europe then the US into financial ruin its time to find a new target/home and the largest now left is Russia. Its the return of the Bolsheviks 21st Century style. When the scale of the strategic plan is in decades it is difficult for the rest to understand let alone keep up.

Whichever way you look at it we are in scary times and there appears to be no way for the 'people' to plan a way through it. Markets can go up or down, almost at a whim, if you are not a real insider you won't know the direction TPTB are backing, you are just market fodder.

Tue, 12/16/2014 - 17:07 | 5559992 noben
noben's picture

Lemme see if I got this right...  Both Russian crime bosses and Top US businessmen and many of its politicians have Israeli passports?

Interesting.  It's a coincidence, right?  Just like 2% of the US population part of >50% of US billionaires, and its 2% having control of the halls of power and influence.  All coincidences, right?

Tue, 12/16/2014 - 13:33 | 5558946 dexter_morgan
dexter_morgan's picture

Mr. Kerry, why the long face?

Tue, 12/16/2014 - 14:48 | 5559347 Eahudimac
Eahudimac's picture

It's true, many people on Zero Hedge see Putin as the last chance to stand up to the bankers and their fascist bought and paid for corrupt politicians. If Putin is working for the Russian oligarchs and, as you imply, the Western bankers, then all is lost. Let hell on Earth reign.

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