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Commodity Currencies Are Soaring

Tyler Durden's picture




 

As Crude's bounce gathers pace so the world's beaten-down commodity-currencies are exploding higher. Aussie Dollar has given back all its RBA rate curt losses, The Russian Ruble is soaring, and the Canadian Dollar isd back under 1.24 against the USDollar... The USD Index is now down 1.3% since Friday.

What's good for oil is good for Russia... and the rest of the commodity currencies...

 

Draghi will not be pleased...

 

Charts: Bloomberg

 

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Tue, 02/03/2015 - 14:30 | 5739700 l1b3rty
l1b3rty's picture

Yet Gold, Silver and Bitcoin move sideways still. Go Long Empire!

Tue, 02/03/2015 - 14:58 | 5739832 El Oregonian
El Oregonian's picture

Just think of them as STILL on SALE! Keep stack'in and fergeddaboudit...

Tue, 02/03/2015 - 15:09 | 5739888 kaiserhoff
kaiserhoff's picture

Oil up $4.50 on NO NEWS, and no change in fundamentals.

Volatility is not the end of the world.  It just sort of points the way.

Tue, 02/03/2015 - 14:31 | 5739701 Dr. Engali
Dr. Engali's picture

My office is right down the street from a gas station. When I pulled in this morning gas was $2.02 a gallon, at lunch time it was $2.40. It's now up .80c from it's lows. Good buy temporary tax cut. Oh well at least there's no inflation. 

Tue, 02/03/2015 - 14:35 | 5739722 disabledvet
disabledvet's picture

That's not a gas station but a FUTURES EXCHANGE!

 

BELLY UP TO THE BAR BOYS....LONG PRODUCT SHORT DELIVERY!

Tue, 02/03/2015 - 14:56 | 5739826 NoDebt
NoDebt's picture

I'm using that futures exchange comment.

Tue, 02/03/2015 - 14:55 | 5739818 NoDebt
NoDebt's picture

Just remember who butters your bread and repeat after me:  "This is unequivocally good."

 

Tue, 02/03/2015 - 14:29 | 5739702 rejected
rejected's picture

Let's see if they can beat their 800 points up in three days. Nothin more fun than to watch a sting in action....

Tue, 02/03/2015 - 15:09 | 5739748 SWRichmond
SWRichmond's picture

At the risk of repeating myself:

Cue Admiral Ackbar.

Anyone who trades these markets without an inside line to the "Friends and Family Plan"...

Tue, 02/03/2015 - 14:32 | 5739710 surf0766
surf0766's picture

Turn those fracking machines back on

Tue, 02/03/2015 - 14:31 | 5739714 disabledvet
disabledvet's picture

This makes perfect sense!

 

The USA produces no energy whatsoever and has zero industrial plant!

 

 

Hahahahahahaha.  Keep printing Federal Reserve!

 

The Bankers are omnipotent now!

Tue, 02/03/2015 - 14:33 | 5739716 Kaiser Sousa
Kaiser Sousa's picture

its all perfectly understandable...

yeah, i think i'll keep buying Silver...

DEATH TO THE MONEYCHANGERS.

Tue, 02/03/2015 - 14:39 | 5739736 disabledvet
disabledvet's picture

The money changers?

 

Death to the Government!

 

They do nothing!

 

 

 

Hahahahahahahaha.

 

Go Government Go!

 

Do absolutely nothing only MOAR!

Tue, 02/03/2015 - 14:45 | 5739762 Kaiser Sousa
Kaiser Sousa's picture

THE MONEYCHANGERS R YOUR GOVERNMENTS.

Tue, 02/03/2015 - 14:33 | 5739719 Hitlery_4_Dictator
Hitlery_4_Dictator's picture

Let's face the facts...ZH has been WRONG for a long long time, we have all been wrong, and we lost a lot of paper currencey, that we could have used to buy real money, because of it...I am about ready to capitulate and go into the market....I can at least admit it when I'm wrong - can you?

Tue, 02/03/2015 - 14:35 | 5739729 i_call_you_my_base
i_call_you_my_base's picture

Go long and shut the fuck up.

Tue, 02/03/2015 - 14:42 | 5739750 Tsar Pointless
Tsar Pointless's picture

He's right. People just can't accept it when they're wrong, sometimes, I s'pose. I wish I would have gone long a long, LONG time ago. Instead, I listened to people like the Tylers and Karl Denninger and didn't. Well, what can you do?

Going long at SPX 666 looks like a pretty smart move. Then again, it looked smart at 700. Then at 800. Then 900. Then 1000. Then 1100. Then...

You get the drift.

Tue, 02/03/2015 - 14:51 | 5739790 Apply Force
Apply Force's picture

And when you say "...gone long..." I think a fair number of posters to this blog have something entirely different in mind.  I'm still long and will be until I die - just not in the paper horseshit and phoney "markets" you're talking about.

Tue, 02/03/2015 - 14:59 | 5739836 nope-1004
nope-1004's picture

+1.  Going "long" is relative to the pricing mechanism used to value said "longs".  If it's a debauched currency, everyone long is a hero, until that Minsky moment when they're completely wiped out.

Centrally planned ponzi market can keep going up all it wants.  I don't give a shit, because the USD will one day go poof, and so will many of these "longs".

 

Tue, 02/03/2015 - 15:06 | 5739872 Kaiser Sousa
Kaiser Sousa's picture

look around here...

see all those that  the MoneyChangers have successfully beat down in mind and spirit...

war is not for most, and definitely not for the weak...

just sayin.

Tue, 02/03/2015 - 15:10 | 5739893 Hitlery_4_Dictator
Hitlery_4_Dictator's picture

I think it may be best just to off myself....what is the point in all of this? I can see why people take the "easy" way out sometimes

Tue, 02/03/2015 - 15:58 | 5740140 UselessEater
UselessEater's picture

silliest comment ever... get a grip and never even in jest propose the "easiest" way out...its hurts many more than you can imagine in traumatic ways for generations.

One point in a life is not a predictor of a whole life lived over decades.

There is life after bad times, you gotta get through them. And I just got almighty screwed by the banksters playing internet banking crash games as I was trying to transfer funds....huge hair cut not of my own doing. F'k 'em I'm going to be as determined, confident and resilient as I can with humour.

http://www.silverdoctors.com/one-year-in-hellsurviving-a-full-shtf-colla...

 

 

 

Tue, 02/03/2015 - 16:35 | 5740295 UselessEater
UselessEater's picture

so the red arrows like the comment:

I can see why people take the "easy" way out sometimes

wow


Tue, 02/03/2015 - 15:14 | 5739900 Apply Force
Apply Force's picture

Fair enough, Kaiser, and I love a good fight

Tue, 02/03/2015 - 15:20 | 5739956 Kaiser Sousa
Kaiser Sousa's picture

did any of ya'll really think this shit would be a"tip toe thru the fucking daisy's"??????

u think they r gonna let u go without doing everything they can think of to keep u their debt slaves and in their worthless fucking pieces of paper????

SUCK IT THE FUCK UP MOTHER FUCKERS!

this is your very lives they r after and u have within your means to KILL THEM OFF...

GET RID OF DEBT COUPON DOLLARS AND BUY PHYSICAL FUCKING SILVER GOD DAMMIT!!!!!!!!!

Tue, 02/03/2015 - 15:14 | 5739912 Hitlery_4_Dictator
Hitlery_4_Dictator's picture

I still need fiat to live, and since i have no skills (and I refure to go get skills), and jobs are scare if not impossible to get, I should have went long. 

Tue, 02/03/2015 - 15:17 | 5739943 Apply Force
Apply Force's picture

You do not need fiat to live - that is absurd.  You may need fiat to enjoy your comforts of the day, but certainly not to live.  The job of tending your own garden requires mostly experiemnts to gain skills, and can help keep you well fed (and so, alive)

Tue, 02/03/2015 - 16:52 | 5740373 UselessEater
UselessEater's picture

Ahh but he prefers to joke about ending it rather than getting off his butt and being a practical self taught, independent person.

Tue, 02/03/2015 - 17:10 | 5740463 Hitlery_4_Dictator
Hitlery_4_Dictator's picture

I just don't want to particiapte in society any longer, especially in the "education" system

Tue, 02/03/2015 - 17:29 | 5740561 UselessEater
UselessEater's picture

You are on the right track...you are choosing to see it and at least mentally disengage. You cannot control what you know is happening. You may not be able to make a bunch of dosh from it.

I am one of many who would like you to participate in society. Be it quietly, and very cautiously you are a thousand steps ahead of most folks...simply because you can tolerate ZH.

Chin up my friend, fake it where you have to and get a few like minded souls around you where you can -practical, sensible souls with good humour. Also keep in mind what is esteemed today may not be tomorrow, make the true believers of the education system as small a part of your life you can...go hug a red neck ;)

 

Tue, 02/03/2015 - 18:19 | 5740724 Hitlery_4_Dictator
Hitlery_4_Dictator's picture

If you only knew how prepared I am, since 2008 been preparing. 

Tue, 02/03/2015 - 19:42 | 5740972 UselessEater
UselessEater's picture

OK got it loud and clear, Sr Dictator;)

 

Tue, 02/03/2015 - 15:12 | 5739903 FreeShitter
FreeShitter's picture

I have never shorted this market, but I wish I could have a couple of times. That being said, go long the fed will not let this market crash as long as rates are this low and QE is the new norm.

Tue, 02/03/2015 - 14:39 | 5739734 venturen
venturen's picture

wrong? Tens of trillions of printed currency is wrong! You know it, we know it and it is going to end very badly. In 2007 was talking with NYC real estate guy and he said everything was great...I told him it was going to end very badly....who was right? You?

Tue, 02/03/2015 - 14:42 | 5739752 Hitlery_4_Dictator
Hitlery_4_Dictator's picture

that's great and all but I missed the opportuinity from 9k to 18k in the market...missed out on lots of paper...that's a fact...fundamentals don't matter and who knows how lonmg this can go..you know it and I know it

Tue, 02/03/2015 - 14:49 | 5739789 viahj
viahj's picture

you also missed out on common sense if you were trading soley on the reports of this site.  sure, bei n the market that you know is rigged, gain some fiats, convert to assets.  no problem here with that strategy, unless of course you have a concious and believe in honest work rather than "getting yours".... and your preps are complete.  just know that you will not see the door slamming shut in time.

Tue, 02/03/2015 - 14:57 | 5739830 rejected
rejected's picture

Yep, they suck everyone in on their illegal scams,,, then who are you to complain and want legal action against these manipulators, after all you profited from the scam too.

Then when everyone is fat, dumb and happy,,, they pull the rug out.

Tue, 02/03/2015 - 15:29 | 5739971 ZH Snob
ZH Snob's picture

 it's not about pride, not admitting when I'm wrong.  you go on the assumption that all that matters is making money.  at the risk of sounding a bit idealistic I'd like to offer an alternative motivation.  some of us don't want any part of this corrupt system.  we all go on and on about the cheating banksters and brokers, but if we chose to profit off of the same system are we not birds of a feather?  I have a decent job and am content with the money I make.  I have no trouble meeting my debt obligations.  I also have no illusions that a mountain of money will make me any better off, that I can then enter a richer circle of friends and laugh all the way to the bank.  I just don't see it that way. 

nor do I see fault in anyone like dr engali who turns those profits into preps.  I just don't have the drive or the stomach for it.  I can get all the preps I want with the salary I earn.  and I do.

Tue, 02/03/2015 - 15:34 | 5740015 Hitlery_4_Dictator
Hitlery_4_Dictator's picture

Good for you - not everyone has a "good" paying job....my business has suffered, so maybe it's all I got....

Tue, 02/03/2015 - 17:05 | 5740442 UselessEater
UselessEater's picture

Hey many of us have/are taking hair cuts.......the point is to be aware serious problems are ahead and a lot of volatility is being per-ordained..its all fixed beyond average joe's pay grade. Many of us have been slaughtered at least since the GFC (my business collapsed overnight, govt now controls my personal financial safety net from my sweat). Hey, we'll each figure it out.

Never give the pricks your soul. They do not deserve it.

Get back into the fight.

Tue, 02/03/2015 - 15:41 | 5740042 besnook
besnook's picture

you've entered the twilight zone. accepting reality is the first step to self help.

iv'e stayed in this long because i still think the market will blow up in a glory of inflation at the .1% level, possibly the first time it has happened since the spanish empire was awash in gold. all assets owned by the .1% will continue to rise until the spigot is turned off and they have shown no compulsion to do so.

zimbabwe comparisons are hyperbole but the name fits. this is the zimbabwe model of wealth creation.

Tue, 02/03/2015 - 16:27 | 5740268 nailgunnin4you
nailgunnin4you's picture

fundamentals don't matter and who knows how lonmg this can go..you know it and I know it

 

I get where you are coming from, except the suicide bit obv, but I always thought the point of zerohedge was to deter people from getting in the market at all. Permabearish as they are I never feel like shorting anything when zerohedge constantly provides anecdotal evidence of fundamentally good shorts being decimated. Before finding zerohedge I was interested in learning all I could and jumping in the market, nowadays the Tylers have convinced me all markets are extremely unhealthy/over-valued and are definitely not based on fundamentals meaning profits have more to do with luck than brains.

 

I have had no winners but I have also not become a bagholder, unless that bag holds physical PMs.

Tue, 02/03/2015 - 14:58 | 5739742 Dr. Engali
Dr. Engali's picture

Watch how you throw that "we"word around Kemosabe. I have been buying the fucking dip for years, taking profiits, and exchanging my fiat for real money, bullets, bandaids, beans, and booze. I gave up trying to short this "market"  after QE1, and I have the posts to prove it.

Tue, 02/03/2015 - 14:58 | 5739838 NoDebt
NoDebt's picture

And Doc isn't the only one.  Play with paper, invest the profits in something you'll actually need later.  And remember that marksmanship is a perishable skill.  Practice regularly.

Tue, 02/03/2015 - 15:10 | 5739891 Mike Honcho
Mike Honcho's picture

The quad-Bs, nice list.  I have a similar approach to profit exchange but my first B is brothels, the uno-B list.

Tue, 02/03/2015 - 14:45 | 5739769 Kaiser Sousa
Kaiser Sousa's picture

"we have all been wrong, and we lost a lot of paper currencey..."

 

translation: youve lost nothing at all.

Tue, 02/03/2015 - 14:48 | 5739788 Hitlery_4_Dictator
Hitlery_4_Dictator's picture

Fine, I've gained nothing - it's all lies from everywhere...lies, lies, lies,, lies from the .gov lies from ZH, lies from the MSM, lies from the alternative media....LIES

Tue, 02/03/2015 - 14:59 | 5739841 NoDebt
NoDebt's picture

There you go, that's the spirit!

Tue, 02/03/2015 - 15:31 | 5739993 ZH Snob
ZH Snob's picture

I got a good laugh from that one, n.d.  the cadence is perfect.

Tue, 02/03/2015 - 18:30 | 5740763 UselessEater
UselessEater's picture

Hitlery.... I'm really starting like you. Will be looking for your posts, and (contrary to the joke) - its a shitty big club that we are all in buddy. yep "all" each way.

Tue, 02/03/2015 - 15:36 | 5740026 Element
Element's picture

Oh great, a manic depressive troll.

Tue, 02/03/2015 - 16:36 | 5740300 Hitlery_4_Dictator
Hitlery_4_Dictator's picture

Your comment has made me decide to do the deed.....where's my rope?

Tue, 02/03/2015 - 14:36 | 5739726 aliki
aliki's picture

ive come to the conclusion im working til im dead. there going to be no amount of $$$ too great to prevent from what these ass-clowns are doing to global financial markets. they've punished savers, killed interest-income investors, and are going to have 401ks in their cross-hairs before long. going to look into having my firm deposit my future 401k contributions out to a round-robin of hotels out in vegas - i may as well enjoy it once a year rather than have the free-shit crowd rob me at some future point in-time.

his 529 "idea" was just the tip of the titanic iceberg. this budget proposal had $6 trillion in fresh-debt on-top of the $18 we already have. at what fucking point does someone put their hand up & question what the fuck we do when & if the teasury market calls us in. i thought $10 trillion MIGHT have been the spot that clearly that was way off. so what is it? $20 trillion? $100 trillion? what comes after "trillion" anyway?

Tue, 02/03/2015 - 14:44 | 5739766 RaceToTheBottom
RaceToTheBottom's picture

"what comes after "trillion" anyway?"

An Obamillion.  They will make a coin for it.  It is 3 ft diameter and made out of chocolate on the outside and yogurt on the inside.

 

Tue, 02/03/2015 - 15:28 | 5739988 SoilMyselfRotten
SoilMyselfRotten's picture

When trillions isn't enough, the ELOI will be running things

Tue, 02/03/2015 - 15:52 | 5740103 homebody
homebody's picture

Some will say yum yum Eloi

Tue, 02/03/2015 - 15:52 | 5740095 homebody
homebody's picture

Shit on the inside

Tue, 02/03/2015 - 18:21 | 5740729 theliberalliberal
theliberalliberal's picture

I have the same conclusion.

 

only thing is, your premis is you will live a long life,  working.

mine is I will die from cancer/conscription/fukushima before retirement

Tue, 02/03/2015 - 14:39 | 5739739 venturen
venturen's picture

Wait till oil supply number from the EIA tomorrow...going to be big build and lots of tears.

Tue, 02/03/2015 - 14:40 | 5739741 U4 eee aaa
U4 eee aaa's picture

Got their Davos marching orders I guess

Tue, 02/03/2015 - 14:42 | 5739754 Vylahkinnen
Vylahkinnen's picture

Aussie shows signs of an erection trading pattern.

Tue, 02/03/2015 - 15:12 | 5739895 chubbyjjfong
chubbyjjfong's picture

Waltzing fucking Matilda bitchez.

Tue, 02/03/2015 - 14:42 | 5739756 kowalli
kowalli's picture

oil will go down by the end of the this week.

Tue, 02/03/2015 - 14:43 | 5739759 JustObserving
JustObserving's picture
Commodity Currencies Are Soaring

But confetti currencies are backed by the full military might of the land of the free - and 900 military bases in 130 countries.  And compliant brokers like Goldman Sachs to downgrade commodities and S&P to downgrade countries that depend on commodities

Tue, 02/03/2015 - 15:09 | 5739881 adr
adr's picture

In business we call it the schnoz trap.

When oil was $75 a barrel gasoline dropped to $2.05 in October. With oil at $50 gasoline is now $2.35. The price of the base commodity is rising but still far lower than it was three months ago, yet the retail price for a finished product is higher.

It is the great Jewish business tactic of putting your competition out of business by borrowing money or using junk bonds to run your business on while you take short term losses undercutting your competitors prices. Once your competitors are dead you can buy them out cheap and raise prices above your old retail, but still below the price before you came into the game. You tell customers to be happy that they are saving money compared to a previous time period. However since you can now command better pricing terms from suppliers, being the only buyer left, you can generate a greater profit spread even though overall costs have declined and the retail price should be lower.

SO fucking tired of this shit.

Tue, 02/03/2015 - 15:58 | 5740139 Hohum
Hohum's picture

Well, when oil was $10 barrel, gas was $0.75/gallon.  So, oil at $50/barrel should mean gas at $3.75.  Right?

Tue, 02/03/2015 - 15:17 | 5739917 aliki
aliki's picture

these fucking headlines go from WTF to WTFF:

Italy PM Renzi says wants to help Greece within EU framework
http://www.reuters.com/article/2015/02/03/eurozone-greece-italy-idUSR1N0TH01G20150203

so let me get this straight. 1 broke EU country is going to advise another broke EU country on how to get out of bankruptcy. meanwhile, our president tells the public "our economy should be more like france" - another broke-ass country which continues to break its record high unemployment levels month-after-month.

i swear this planet has lost its fucking mind.

Tue, 02/03/2015 - 15:16 | 5739920 firstdivision
firstdivision's picture

Funny how the USD sell-off ocurred once K-Hen logged onto BB.

Tue, 02/03/2015 - 15:17 | 5739924 q99x2
q99x2's picture

Hmmm very typical of stable systems that begin to enter turbulence.

Tue, 02/03/2015 - 15:34 | 5740011 buzzy_the_pirate_dog
buzzy_the_pirate_dog's picture

What the fuck?  Things are goofy today.  So you ZH'rs in high places...what is going on?  Shit ALWAYS moves opposite of my moves (curse of Cramer).  Grrrr

Tue, 02/03/2015 - 15:40 | 5740034 spooz
spooz's picture

For the Aussie dollar, it might be useful to look at a chart that shows how the soaring may have something to do with the plunging it took yesterday, after the rate cut.  Its still below where it was before the cut. Big whoop.

Tue, 02/03/2015 - 18:17 | 5740714 theliberalliberal
theliberalliberal's picture

of course. 

now the RBA can issue another cut next meeting.

 

We wouldnt want a pesky exchange rate to ruin the narrative that more cuts are needed.

Tue, 02/03/2015 - 19:21 | 5740927 UselessEater
UselessEater's picture

What is so sweet is for 72 hours before hand my ANZ bank account would not permit international transfers, once again. All other ANZ functions worked as normal. Once again... transferring on the dip worked.

 

Tue, 02/03/2015 - 16:03 | 5740165 Money_for_Nothing
Money_for_Nothing's picture

The market will never crash. Everyone will be Corzine-ed (MF Global-ed).

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