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Crude, Gold Jump After Goldman Says SNB Action Hints At "Massive ECB QE"
"This is a massive message from SNB to the market : ECB is going to do QE, and it’s going to be big..." notes Goldman Sachs and it appears Gold and Crude Oil are starting to get on that bandwagon.
Gold back above $1255
And WTI break $51...
And in context...
Via Goldman Sachs,
Removing the SNB peg takes out one of the biggest EUR buyers in the market. And of course, VERY notable this is happening 1-week ahead of the ECB, they possibly realised they could not continue to buy unlimited quantities when the ECB might print unlimited quantities.
Desk thoughts:
This is a massive message from SNB to the market : ECB is going to do QE, and it’s going to be big..No way I am keeping buying EUROs here. First Market will have to digest the pain of a 28% move at some point, also the USDCHF is down 15% which will HURT in the current long USD environment
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Get to work Mr Bullard and Mr Evans! You are falling behind.
ah, the QE merry-go-round.
where will it stop next?
... that's what happens in the toilet ... European ...
Draghi has been throttled by the SNB.....now the real fun begins
Didn't Goldman just tell its muppets to sell crude?
Doesn't the ECB need the blessing of the Germans before they are legally allowed to do QE?
Yea, I just read this story, thanks to the Hedgeless Horseman.
http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/113465...
They know something. if so, there's gonna be a Wipeout, in nearly everything but US bond/dollars, next week.
http://www.youtube.com/watch?v=p13yZAjhU0M
Anglo-American Axis Wages Financial/Economic War Against Russia
Russia-China and the Axis will lose if China is all-in.
More like a whirlygig.
>where will it stop?
When they run out of landfills to dump all the fiat currency?
"Massive ECB QE"
Not so much a matter of going too.....it's pretty much have too.
They are running out of airspeed and ideas at the same time. This ought to be interesting to watch.
Stall warning, stall warning!
Ten year at 1.83% LOl......
Wow! Such a deal! lol.
Given that Germany's 10-year is yielding 0.47% this morning; yes, it is a deal...
[Expect the US 10-Yr to be under 1.00% within the year...]
The 1.44% of July 2012 looks just around the corner on this 10 yr. live chart, monthly:
http://www.investing.com/rates-bonds/u.s.-10-year-bond-yield-advanced-chart
Ummm, yeah I think that would indicate "massive ECB QE" is coming. They have a choice, angry mobs or QE. What do you think they'll do. Shiittttt.
Wait for the next move of the Russians and you will have both.
I suspect (at least) few month after the ECB starts its QE, the Germans will quit the EU using a really obscure excuse.
I think most ZH readers are stocking up on popcorn right about now, along with Vlad.
And beer. Lots and lots of beer.
Amen, Brother! Do you brew your own? We do and are getting pretty good at it.
All my money is in dollars, these last few weeks have been pretty easy to make money :)
That is, of course, if you belive Goldman Sachs...
GS is as good a contra-indicator as Dennis Gartman...
The Goldman/Fed has Zero credibilty
Back off! They're doing God's work.
Yes, and which one would that be? Could it be, oh I don't know, SATAN!!!
The power of Satan/Greed is becoming apparent to more and more people now.
This can ultimately be something that fosters peaceful change. It certainly can't go on the way it is now for much longer.
Mammon
Goldman is just parroting the MSM narrative. Look at the facts: the CHF devaluation was a false flag op by Mossad/CIA.
They tried to shoot the Euro in the head with an AK-47 while it was lying on the street helpless; but missed! Coincidence? I think not.
Revaluation.
http://www.zerohedge.com/news/2015-01-13/turkish-presidents-stunning-out...
Ugh. Seriously?
I had a comment on that thread too, and it went like this:
"Yes, this statement by the Turks falls under the Islamic concept of "Divine Deception."
There was no false flag. Just Mohammedans doing what they've done since the Pedophile Prophet set the example 14 centuries ago. Nothing really more to it."
The reason why I've been ridiculing these absurd false flag allegations for the past few days is because these conspiracy theories distract Westerners from the real threat, which is Islam.
Sarcasm completely off.
You will be just fine. Just keep your head 'WELL' buried in the sand.
Only an uncultured ignoramus who's never traveled outside a 100-mile radius of his mommy & daddy's house would respond to my comment by accusing me of having MY head in the sand.
You're projecting your own failure to understand the world onto others. Knock it off.
Or go catch a clue.
thatthingcanfly, I should have remembered you from the car pile-up thread humor a few days back. Never can tell at the moment.
Yeah, that was one of my finer moments. ;)
It's near 100% reliable that whatever Goldman says, the opposite is really what's going on.
I tend to agree.
I've watched what Sachs has been forecasting and invariably what they forecast is either partially or wholly inaccurate.
Hmmm...were the melt-up caps recently set in Gold and Silver just a timely coinkydink?
Actually taking SNB out will reduce the likelihood of ECB QE, but what do I know, I'm not privileged to know what Draghi is being told to do. Taking the biggest buyer out of the market means...who would they sell these freshly minted notes to? It’s a global race to the bottom, and more than likely, the US will announce QEn+1 as the USD has strengthened considerably (above crisis levels even) to global currencies...unless of course the Petro does truly die soon.
They do not sell in a QE program, THEY BUY.
SNB balance sheet already greater than Swiss GDP. With ECB printing in high gear they would have to print also or the frank gets much stronger.They let it go preemptively.
I agree with this. "Death of Money " hypothesis. Feels like a panic to me and panic's are a bad reason to do anything.
Switzerland isn't the reserve of anything really.
They buy assets and sell notes
Keeping your money in the bank at negative interest rates even as Central Banksters print trillions or buying gold and silver? That is such a tough decision.
'No way am I keeping buying Euros here'.....nice grammar dumbass...and these are the smartest guys in the room?
Define 'smartest guys in the room'
To me that was the title of a documentary regarding enron fraudsters,
Ergo 'smartest guys in the room' means crooked insider lying theif
Thanks, Cap'n Obvious.
And right on cue, gas is up 10 cents here near me. I swear the guys that run the pumps around here read ZH.
Amazing how quickly it goes up isn't it? Takes a few days to lower but they have a guy on the ladder within minutes when it's time to raise that shit.
We CHF'ed some folks
Greece is licking their chops right now...thinking how many bonds they can sell with the new QE...trillions I bet..Greece is rich now...its just paper money...
You know who is rich overnight?
Its Charlie Hebdo !
They are sold out for first print at 5 million. And their subscription/donations has gone north of 2 million Euros.
A month ago they were ready to fold as their readership was heading south fast.
So if a trotskyist lampoonist can get rich in this Oligarchy world, so can Greece !
Anything goes provided it makes GDP spike!
Hell hath no fury like DEFLATION.
That attack saved the magazine. Seems like something out of "Network"
https://www.youtube.com/watch?v=37nkErzdTOA
They're gonna walk away at the end of the month, Grexit.
http://en.wikipedia.org/wiki/Greek_legislative_election,_2015
In January 2015, speculation about a Greek exit from Eurozone was revived when a German government official was quoted: "The time when we had to rescue Greece is over. There is no more blackmail potential. Greece is not systemically relevant for the euro." followed sources fromWolfgang Schäubles ministry of finance being cited by the weekly Spiegel. German largest-selling tabloid Bild added to this, comparing Greece with an unfair footballer: "What happens to a footballer who breaks the rules and does a crude foul? – He leaves the pitch. He is sent off as a punishment. No question."[28]
That is what $10 up in oil in less than an hour of active trading. Glad to see we can undo a month worth of decline in one hour based on absolutely nothing but the possibility of a QE program that has no correlation to the price of a commodity priced in dollars. If the Euro declines in value and oil goes up in dollar terms it just makes it that much more expensive for Europe to buy oil, thus decimating demand.
Efficient price discovery going on here. Fuck the commodity manipulators.
It's really rude to listen in on someone's prayers, ZH. The Goldman is praying right now.
the squid wants you to buy or sell something, anything, they don't care. muppets of the world get out there and do something! make a move bitchez.
Satan doesn't answer prayers . . . but he makes deals - and the small print is a bitch.
He also makes Executive Orders. Lots of them.
massive message, :roll:, what a bunch of putzez bitchez
I told everyone weeks ago it was totally ludicrous not to expect the EU to launch QE just because it was illegal. LMAO!!
If we haven't learned by now that all rules will be broke, new rules will be created out of thin air, and they will drag everyone of us to tent city or/and ww3 to keep this Fuckfest of Filth slopping along to save the status quo---then we never will learn.
Look at the hypocrisy abound: The US can disconnect from the rest of the world. The EU makes no difference.
Now suddenly a collapsing Bank of America, gazzilions of layoffs etc etc etc now mean nothing as the EU announces to fuck it's slaves just as the US and the Japs are doing.
This shit will continue until it literally implodes or war.
And now you know the significance of trend lines and how events such as these can actully be predicted as likelyhoods ahead of time. You don't know exactly what's going to happen you just know there's an assfucking in there somewhere. And no, t/a isn't broken at all the FED's employ the best traders in the world and know exactly where all the breakdown points are. So you may think it's not working but it actually is.
All the central banks are acting like pigs at the trough. All are mired in the shit they've created, with no thought of the impending slaughter.
One of their biggest concerns is to be able to keep coming to work everyday in a quadrillion ton building made out of solid polished marble and gold plated staircases and keeping that big fat paycheck coming in and trying to figure out how to keep the fucking monkeys in line until the next employment(election) opportunity.
Anyone who has raised pigs knows you have to move the sty once a week else they will get it so muddy and polluted they will get sick.
I guess central bankers are no different...
I never saw you touch on the main point:
How/why Germany would accept it.
Gartman will stop buying Euros because he lost every dime in his account.
Soooooo bullish us stock futures of course.
All this is very bullish for gold and silver.
Physics is bullish for gold & silver; the rest of it has no bearing. It's only a matter of time before denial of reality for world-markets leaves those markets ruined and unable to pretend any longer.
Man, these CBs know how to stage manage their plays in a Shakespearean way !
Enter the Bard in the prologue and the S Franc goes up.
Enter the Clown in the first act and the Oil starts to spike.
Enter the King's counsellor in Act 2 and the QE in EU takes a hike.
Enter the king of Fed and decrees the Saving of Humpty Dumpty to be a national priority.
Now all the king's riders and king's men look for Humpty Dumpty to put him back on his perch; hoping against hope he hasn't broken his shell !
Where is Humpty ? I hope he isn't Dumpty!
Recently in China , a woman cut her husband's penis off after she found out he was cheating. Then she went to see him in the hospital where he was recovering from having it sewn back on, cut it off again and threw it out the window. Hospital rep said they couldn't find it and probably a stray cat or dog got it.
It's like that for Humpty.
"."
Old Chinese saying:
First sliced off penis, shame on you
Second sliced off penis, shame on me and pass the depends !!!
I always thought Humpty Dumpty was Shakespeare's finest.
I'm holding out for Humptier Dumptier Too.
$ to 1.20 by end of 2016.
Looks like everyone is taking their crazy pills today.
GS gets good news out of this. All i get is the global economy is so screwed the eu is going to print money to help fake all the numbers so they can pretend it isnt.
Their way. oil goes up, my way it keeps going down.
Whos right?
who cares about Euro!
Dollar must prevail!
we sucked up Yen Euro is next ! suckerssssssssss
WHat will a massive ECB QE do to the US equity market?
How long will the pump last?
Isn't the half-life measured in hours, now?
Long volatility.
Long Phys.
long oil and gold, short equities?
selectivelly short equities. iittle toe only. Too much whipsaw. STFR, I guess.
Easiest way to short equities: HVU ETF (tsx). It's a 20x inverse multiplier.
HVU1/20.15 x SPY = 231.163
Working from the HVU price back to SPY's price this has been accurate to 0.5% error.
Now just imagine what happens when something like SPY = ...
180 : 154.60
160 : 1659.32
150 : 6091.29
... 100 : 21,525,262.05 (obviously splits will happen)
Other risk: funds, accounts, brokerages will fail before money is delivered for any sale or currency itself vaporizes.
Sorry, but why is crude jumping due to this?
Priced in USD. USD weakened, price rises. However, it went too far - now everything is ocming back the other way again. Back and forth. Back and forth.
That, and the fact Putin cut of NatGas pipeline through Ukrain because Ukraine was allegedly stealing gas (isn't Biden's kid associated with Ukranian Nat Gas?) which is probably going to drive up fuel prices in general.
Bank of England action in 3...2...1...
It's a beuatiful day in the neighborhood...
Or
Tro Lo Lo Lo...
Take your pick!
Same thing different day, markets sell off a measley 2-3% central banks panic and here comes QE. At least let the markets sell off 10% before you push them to new highs.
Which funds and banks got wiped out with this?
Bulltard, Evans, Yellen and Dudley can start talking about $190 billion month/QE.
The Yen, Euro and dollar can race to devalue.
Investors should be looking to get out of fiat.
The fiats will have a value of 0 eventually.
those who went long on USD/EURO.....
Should be good for those who are long the Dollar. ...for a while, anyway.
What happens if you're a young disgruntled jobless man or George Soros by 9:30AM on 1/15/2015!
http://edition.cnn.com/2015/01/15/us/capitol-attack-plot/
Internet posting of your intentions for guerrilla action is always a recipe for success.
Shhh, let's organize a secret club on the internet, while no one is looking.
Wonder if Soros saw the Swiss move coming, and how he positionned himself.
Whuuuuuut? Soros gets inside information on currency moves?
That's never happened before.
Draghi (and the Fed) need QE in order to bail out the banks that will get fucked over by Greece and the rest of the PIIGS. THE SNB probably calculated they would have to double or more their purchases of EUROs. It's unfathomable to think that they didn't let the Fed know their plans in advance but interesting to speculate what actually went down.
Yes, but there is more profit in whipsawing the markets and then announcing (by forcing the Germans to go along with) QE after the Grexit. That's the 'bailout script' that has been used for many a year. Let the crisis do all the political heavy lifting.
Krugman must be ordering his bronze statue in his image about now to display on his front lawn.
Je suis ECB
We're saved! Or is it....
When gold jumps, that means the paper currencies are on life support. Time for rule of law? You bet!