This page has been archived and commenting is disabled.
So Much Changes In 48 Hours
From January 12, 2015:
The Swiss National Bank's cap on the franc at 1.20 per euro will remain its key monetary policy tool, the central bank's vice-chairman said in a television interview broadcast on Monday. "We took stock of the situation less than a month ago, we looked again at all the parameters and we are convinced that the minimum exchange rate must remain the cornerstone of our monetary policy," Jean-Pierre Danthine told RTS.
From January 15, 2015:
Recently, divergences between the monetary policies of the major currency areas have increased significantly – a trend that is likely to become even more pronounced. The euro has depreciated considerably against the US dollar and this, in turn, has caused the Swiss franc to weaken against the US dollar. In these circumstances, the SNB concluded that enforcing and maintaining the minimum exchange rate for the Swiss franc against the euro is no longer justified.
In short: it's a centrally planned world, and those who were short the CHF as of yesterday, our condolences on your career-ending event. But don't worry, the recovery is here and you can easily get any other job you desire.
»
- 10467 reads
- Printer-friendly version
- Send to friend
- advertisements -
2015 -- faster, bumpier.
Bring it! The House of Depends is as ready as we will ever be. Each dawn brings fresh horrors in this putrid world of deception.
I like that descriptive terminology.........I think I'll borrow it.....hehehehe
We margin called some folks...
All the the markets -- derivatives, equities, bonds, commodities (especially precious metals like gold, silver and platinum), currencies and of course real estate will be gyrating like jitterbugs for the rest of 2015.
Here's why:
The Coming Collapse is Directly Related To This Content Of This Essay
In other words, they were having a hard time justifying the negativity about the referendum on gold and why they were negative on it as the price of gold kept rising.
Gold will win no matter how many bulls are lost to attrition.
When global credit breaks down again, it be reduced to a slit trench. An open-pit slit trench.
I like this move purely on the basis is looses banks and banksters money. Condolences for fellow zh posters who are now looking for single family refrigerator boxes.
Have you noticed that some of the Big Banks trading revenues are down. I would think they would welcome to volatility to increase those profits. I would not be surprised if they were the ones creating volatility.
This move appears to have come as a complete surprise to the market.
Did the Swiss do this without warning the BIS & Fed?
If they did warn the Fed, then perhaps the Fed kept the secret
and did not leak it to JPM, Citibank, & Goldman.
Bull-earish!
At least it's not serious though.
We were against it before we were for it.
An interesting game. The only way to win is to not play.
Mearly, a flesh wound. Carry on.
I used to be a hedge fund manager who helped push jobs over seas, now I'm a burger flipper. Karma is a bitch.
I used to flip burgers for a living, now I run a mid sized hedge fund and live in Miami. Karma really is
Karma is the universe telling me that all the people I was mean to today, really deserved it.
It's carnage! It's cats and dogs, its... Oh wait, S&P is up, never mind...
If "Let Go" by Frou Frou isn't on your playlist today, I respectfully suggest giving it a spin.
"I just got gnomed" new phrase being used across the land.
We gnomed some folks
It's every ' den of iniquity ' for themselves. CHARGE!
They had to build up their personal portfolios with long CHF positions along with the friends at GS. Once all members of the SNB and GS were levered long, that's when they pulled the rug out.
Currency warz bitchez!
Is it still too early to mention that the walls in the 53rd precinct were bleeeeding?
https://findery.com/Ghostbusters/notes/the-53rd-precinct-aka-hudson-heig...
I don't get it. lil' help for those of us slower on the popular culture metaphors?
Metaphor for: "Events are getting bizzarre and out-of-hand."
If you go in the whole scene, the mayor calls in the Ghostbusters to explain what's going on as the end of the world is at hand. His advisors share a litany of odd metaphysical things happening ("walls in the 53rd precinct..." among them.) Peter Venkman (Bill Murray) goes into a responsive rant to the mayor explaining potential implications that ends with "...cats and dogs living together! Mass hysteria!"
So to answer your question, if the walls in the 53rd precinct are bleeding, you know that things are getting really messy out there.
Good one. Thanks
Sort of feels like induced earthquakes - only the movers and shakers know where the epicenters and damage/opportunities will be.
BTW, anybody know why Russia just replaced their Central Bank head with another western banker operative? I thought they were shaking the monkey off their back. Guess not.
Just a guess - "keep your friends close , your enemies closer."