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Dollar Flash Crashes: Currency Market Pulverized As Dollar Implodes After Close
Complete Currency Carnage...
At 1604ET - the FX world went crazy...
Here is the close-up...
As The Dollar flash-crashed...
It wasn't just the FOMC move - this something more right after the bell
led by JPY and EUR... 2 big figure collapse in JPY!!! 400 pips in EUR!!!!
And Swissy the biggest move of all...
Charts: Bloomberg
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Tyler, you act surprised.
Don't be a killjoy. Enjoy the drama.
This is what war looks like. Skirmishes, salvoes, quick retreats, agressive advances, and then all out insanity as eveyone throws what they have at trying to win the trade wars with currency devals ... until it's nuclear option time - that's when to head to the caves with your PMs
and gude luck when you get to your cave, Eating, and wiping with your pm's....just sayin. Not a critique, just a realization if/when TSHTF..we wont be in Kansas anymore.
Efficient markets.
Thanks, Old Yeller.
This is just short term noise. Long term Dollar investors aren't going to be swayed by this, and neither should you. A strong dollar is a fundamental part of our Federal Reserve's dual mandate, and we're lucky to have a Federal Reserve chariwoman that understands this. We also need to dispel this myth that lower interest rates mean a weaker dollar - this empirically isn't the case. The reason our economy continues to grow is precisely because of low interest rates fueling aggregate demand, which in turn strengthens the dollar. These are some basic elementary economic facts that Zerohedgers just cant seem to understand.
I wonder what those charts would have looked like if the "markets" were 90% human like the olden days rather than 90% algo-bot vaccum tubes?
And how about prior to the good 'ol interwebs....hardly anyone would have known about a nothing day like this with a not so impressive FED statement.
We barely would have noticed a blip.
Wow... just Wow. This floor we are standing on is getting really creaky...
Martin Armstrong mentioned this was a possibility just this morning, and voila!
I buy my pork chops in USD. So my ONLY non-dollar position has been for a while, the PM's.
That's some neck breakin' shit goin' on in the FX markets.
Betcha some "folks" "got margined" real bad.
Doomers on this site should consider the enourmous cost of their pessimism and far-right ideologies. There are some incredible health benefits to believing in government, which many of you would be wise to consider. People who believe in government have more peace of mind, produce less cortisol (the stress hormone), worry less, and are far more likely to enjoy their lesuire time. All of these benefits reduce the risk of stress related diseases. Just look up the statistics - if you look at the disparity between government employees and private sector employees the effects are even more exreme.
You are in fine form today, well done. I'd rate this as one of your most clever posts ever - 'the health benefits of faith in our masters', I don't think I'd ever have come up with that angle, much less all the supporting pseudo-medical bullshit. Again, well done.
indeed. my favorite part was the nuanced way he alluded to the low stress levels of govt employees who don't do jack shit and can't ever be fired, even if they just look at porn all day, compared to private sector employees. I would really like to meet this guy, he is fucking hilarious
I don't understand anymore is that bad or is that good is it fen-shui or is the end of the world ?
Rotate that top chart 90 degrees to the left..
Million$ I'm kind of like the government too, I feed my pigs, give them a place to stay, they come running when I walk up to the pen becuase I'm their benefactor. But sometimes I come with a .22 and put a bullet in their head and butcher them for bacon and pork chops. I think I'll stay wary of the government, thanks.
Great overview:
http://debtcrash.report/entry/history-and-introduction
Is there a correlation to how many views ZH gets on stories and much deeper the depression gets?
Recently a few ZH stores have been in the 100ks...
Here comes the new moon. :-D Time for some awful magic.
Wow!
Exact!
:-)
"Flash!" "Crash!" "Pulverize!" "Implode!"
My God... by the headline, you'd think you were watching the Battle of Stalingrad or something.
MDB is back, all good now, I thought FED fired their bots.
Is it just me, or does the mirror-ish like chart pairing EURUSD::CHFUSD look like a, "at the ready with shorts on backwards, and soon meat on a spit slow roasting over the embers of the hatched Phoenix", white shoed CSPAN dandy's chocolate love tunnel?My assessment is that a short fat love muscle, likethe Blankenstein's, has enjoyed most penetrations.
A couple of month ago an FX trader was bitching about the SWISS counterfeiting / devaluing gambit. He was unaware that several month's before, SWISS public servants had passed a bill that paid SWISS citizens a good income, even if they did not work. I thought it was cool, finance full time creativity for a possibly really good return down the road. But anybody who doesn't have their noodle plugged up with topic like Kim Kardashian's sex tape, had to know what was going to happen next. It was the loudest public FX indicator ever to hit the LED hypno-tube screen - and my FX trader bud didn't know squat `bout it.
Nice Mushroom Cloud...
http://iwak-kutok.blogspot.com/2011/04/atom-bomb-explosion-gif.html
Manthong -> Better yet Rotate top chart 90 degrees to the right & stick it in the purple dip of the chart below .
I've seen plenty of fat assed government employees in my day. And they usually never have a smile on their face either.
If .gov workers don't get stressed, what's 'going postal al' about? I think government workers are full of stress, having some inkling of the contradictions inherent in their situation.
If you're not a sociopath, stealing feels bad, stressful. most aren't they just join up cause the deal seems too goodto be true. Which is an indication that it is. You have to rip off your fellow countrymen to get so much dough out of a worthless job. Deep down inside you'll know that. The VA pays more tahn my job, half the patients per hour but am I signing up to deal with red tape and shortchange veterans? No thanks, I'll do something I can at least mostly believe in.
Here is a picture of AFLCIO president Richard Trumka. Richard Trumka is the big boss man of U.S. bureaucrats:
http://www.thesupernaturalist.com/ROTTENTRUMKA.htm
Richard Trumka made his bones bossing the United Mine Workers. Richard Trumka got out of private sector work and into government work because that's where the money is. Government employee membership = big dues.
https://duckduckgo.com/?q=RICHARD+TRUMKA+EDDIE+YORK
government employees though are overweight which is a greater factor to longevity and insurance costs.
yeh, thats great....I call it thumb in bum..mind in neutral
.
Helpful hint: make sure the statistics are from an accredited source.
I'd enjoy my leisure time too, if I made twice my market wage by being a parasite. Well done, MDB, very well played.
Twice the market wage?? Try about 100 times the market wage. Most of these people wouldn't have jobs if there was no such thing as a government job. They are nothing but big grey wood ticks stuck on a dog.
MDB is one of the top ZH's left here....an almost perfect creature of snark; regurgitating the absurd .gov bromides which are tossed at the amerikan sheeple, day in/day out, like so many cow chips.
We live in this insane epoch in which the prudent have been crucified while the foolish have been rewarded with .gov largesse...6 years of absolutely corrupt economic BULLSHIT and counting...
and yet, if MDB were a true Lefty /.gov troll and you HAD "listened to him" and BTFD....you'd be rolling in fiat.
THAT'S what gives MDB his annoying bite to the retarded dullards on ZH (all Rightists by the way...) who STILL DON'T GET THAT MDB IS A PUT ON.
Look at those reds he gets. EVERY down vote he gets was put there by a DUMBSHIT
Stooge, too bad there is no such thing as an "accredited source" any longer. They seem to be about as rare as the honest politician or the honest central banker...
Anybody heard from Corzine lately?
In California they publish actual compensation for municipal government workers by position, by municipality. In the Silicon Valley town where I work, the administrative assistants are making in excess of $70k and getting additional large contributions to their pension plans. In Oakland the tree trimmers are making in the $80ks and $90ks, plus additional annual 5-figure pension contributions. Yes, I would say there is quite a disparity between the private sector and public sector.
I got a belly laugh from your last and it likely relieved some stress.
Belly laugh before or after you shat your pants?
Excellent point. We should institute universal conscription immediately. Not only will we all be happy because we work for the government, but then we can spread our happiness all around the globe in short order.
Now back to my bunker plans...
hmm, the point I was thinking about.......folks that belive the govt lose their boys.
Obviously the few unhappy are in need of re-education to recognize the benevolence of Oceana.....to the camps with them.
Indeed, the health-and-happiness benefits of faith in government cannot be overemphasized.
For instance, my own brother-in-law is an upper-level administrator in the EPA, and Obama voter and, man, that guy lets the good times roll... every weekend. No worries!
I'm as calm as the driven snow, now shut the fuck up... Pretty please.
MDB is on fire today!! Love this humor.
“Reader, suppose you were an idiot. And suppose you were a member of Congress. But I repeat myself.” ? Mark Twain
Then my wife with 37 years in the government said “Yep he’s the idiot…”
Thats why Post Office employees are so happy. Going "postal" is really a sign of contentment with slave status.
"and are far more likely to enjoy their lesuire time"
You are so right MDB and not just their leisure time but those employees watching porn on taxpayers dimes are enjoying their "work" time just as much.
Just a little pinprick . . .
MDB:
Belief is the province of religions.
Are you admitting that government is a CULT?
That would explain a lot!
P.S. You keep forgetting to use the \SARC tag.
It is satire not sarcasm you fucking dumbass. If you need a \sarc tag to understand what he says then you obviously need to get off the drugs or take more of them.
On your logic North Koreans would be the happiest fuckers on the planet.
Channelling MDB here: That is why they never leave.
"exreme" is not the way to spell excrement. Just sayin.
Are you still fighting extrodition on those house cat molestation chrages your neighbor brought up against you?
https://www.youtube.com/watch?v=W7knXCELGxM
MDB, your humor is so dry, my throat is burning. Great post.
I upvote MDB because sometimes you can really feel the conviction in his posts. Like he actually believes what he types.
Dear Million Dollar Bonus:
You may not be aware of the following BLS statistic:
"Male Government employees blinding rate is more than 50 times higher than the blinding rate of private employees"
It has only been recently discovered that this is due to the exceptionally high rate of Government employees masturbation during "work" hours.
This is called, "Making shit up". Little kids do this.
That is what made the USSR so relaxing......no need to worry or to work
I know just what you mean MDB.... I raise Dorpers... a South African sheep... and they feel exactly as you do...
Sure you can trust the government; just ask an Indian.
.
Fuckin idiot.
It was in parabolic mode....still is.
This should be fun watching all that Euro money buying dollars to buy long term Tbonds at ten times the yield in say Germany
Dragqueen Mario will look stupider
there's a difference between prediciting something and actually trading it and making money off it, which is what some of these famous forecasters seem to forget.... any one can commentate on sports... but can you score a winning goal or save a penalty ?
Regardless of what Armstrong says, I am not convinced he is anything other than a charlatan (yet).
I called this a week ago, and I don't have any advanced "models" around. Just took a little looking around at what most people seemed to be aligned to do.
Not saying he isn't telling the truth, he could be, but I'm not convinced (yet.)
Floor???
Creaky???
Check your feet Papa, this whole show is firmly planted in midair.
Wile E Coyote comes to mind.
http://upload.wikimedia.org/wikipedia/ro/a/aa/297059-wile-e-coyote.jpg
I think Tyler might be using this image in a postmarket wrap-up real soon.
.
Just buy the dip you noobs.
If you are under 40 and in relatively good health you will live to see the Euro go to zero. The Dollar index if you don't know is geometrically weighted to a basket of world currencies of which the euro makes up approximately 35%.
In simple terms the /DX is going to 500.
Was dat munchin', crunchin' sound(s) underfoot?
But everyone knows that the currency markets are too big to be driven by traders. <s>
Speaking of big crashes:
BitCoin lost over 14% today.
[Where's FoneyStar?]
yeah, but since January it's still up almost 100 something or others more of whatever. ;-)
We imploded some folks.
And Imho, you need to dispel the Myth that you know what the fuck you are talking about Mr. Krugman.
oh, and I LOVE this line. "These are some basic elementary economic fast the ZH's cant seem to understand"
Your entire posit is Booosheeit...sorry-- "Lucky to have a FED chairwoman that understands" Salon.com awaits you Sir
sorry...but MDB is a master of satire, so you know.
Thank you Kind Sir Jugdish. I stand corrected with crow feathers galore. Duly noted.
Am I the only one who doesn't find MDB's sarcasm as entertaining as it used to be?
i liked it more when it was up in the air if it was actually serious or presenting satire.
I do still find it entertaining...but your right, not as much as it used to be.
Don't delude yourself. He believes the shit he spews, he used to have a blog. It's not satire, unless everything he blogs about is satire. I'm not buying it, I think he's a government loving dick.
He's a "Theater of the Absurd" type of satirist, only the absurd is reality.
He is a writer for MAD Magazine !!!
So wrong.
Hes a prepper and a stacker.
He was drunk one night and actually came clean.
He has his off days.
didn't read your blah, blah, blah sentences. Just saw the name and downvoted
did read your blah, blah, blah sentence. Just downvoted.
pointless indeed
A strong dollar is a fundamental part of our Federal Reserve's dual mandate, and we're lucky to have a Federal Reserve chariwoman that understands this.....
lol - Benji, is that you?
These are not the thoughts of a Patriot - they are the ramblings of a Nationalist. The Federal Reserve is a cancerous parasite - not only for the US, but for the world.
Everyone responding to MDB's post may want to read Jug's conveyance to DA1 above..
The entire world relies on the Markets . a 20 % currency move or Equity Index move can bring down a nation or lift a nation.
So it is quite worrying when the entire markets are piloted by the FED, and its statements. Maybe they should no talk at all. So the fed controls the markets who controls the world.
And the FED is the least democratic institution in the World
"Giveth not sustenance to he who dwelleth under a bridge."
Well played, MDB_
Hahaha, always can count on MDB for a good laugh.
we continue to grow how ? by creating part time burger flipper / life insurance jobs that cannot pay for a mortgage thereby imploding the RE market or is growth in the exploding price of insurance premiums under NoBama Care which in turns kills retail sales and consumer discretionary income ? Do oil and gas prices swing around wildly in a steadily growing economy or is it the paper pushers manipulating prices from the long and short end to squeeze out the last profits before the oversupply crushes the price to 20/bbl ? MDB where did you attend school - PeaPicker U ?
We still have 100 million out of work, on food stamps or disability and extremely low labor force participation because the jobs that are being created are mostly seasonal adjustments instead of actual jobs. If the Fed had not given us the largest goverment intervention in history in 2008-2014 and interest rates were set by the markets, we would have a booming economy today, instead of more share buybacks and little to no investments in hiring and growing the economy.
MDB is a long time master of deadpan snark delivery.
If only he added the /s he wouldn't be as effective in driving people nutty.
"A strong dollar is a fundamental part of our Federal Reserve's dual mandate"
A WORTHLESS dollar is a fundamental part of [their] dual [PASSPORT] mandate...
There ~ Fixed it.
May God bless you and keep you, MDB.
Blah... cannot believe I am agreeing with you MDB. This looks like a short-squeeze and it was pretty obvious from the general opinions floating around. I also agree with you on EUR/USD prospects longer term.
NB: Agreeing with your EUR/USD position, not with the shit you said about Yellen.
Then how come the dollar went down? How come all the other world currencies have gone down on lower interest rates in their respective countries? Some have even gone negative. If your logic runs true, those currencies would have taken off long ago. The only reason the dollar has been strong is that we're the cleanest dirty shirt in the closet. Cental banks have lost control. If the US would normalize interest rates our fiscal balance would implode. We're just marking time...
I agree with you.
The $ is the maximum!
He's like Chuck Norris!
No one will come near here a few months ...
The same to send the mother for a holiday trip to Fukushima ...
hehe.
"The reason our economy continues to grow is precisely because of low interest rates fueling aggregate demand..." --MillionDollarBonus_
Ding ding ding, yes! And why shouldn't infinite debt be the surest path to prosperity?! I've never read one ZHer ever claim that Keynesianism fails to bolster aggregate demand... IN THE SHORT RUN. Hopefully you're being ironic. Your dollar strength "mandate" line seems a bit of a giveaway. Admittedly funny.
"...which in turn strengthens the dollar." --MillionDollarBonus_
Eeenntt, ooohh sorry that's wrong! No, what's "strengthening" the dollar is a little thing known as competitive devaluation... a currency war we're presently losing, by the way. Artificial demand for dollar-denominated securities does not signal currency strength, and in such a race to the bottom, the "safe haven" label is no blue ribbon. Most ZHers I've read seem to understand this "basic elementary" economic fact just fine. Did I say I hope you're joking? Nice piece of trolling, I must say.
I must say! I really do enjoy you Million Dollar Bonus! i upvote you every time for the comedic value alone. Then the actual tone of your posts bring another dimension of enjoyment as you seem so calmly convinced of your delusion. ... It does my heart good. Thank you for your continued service here.
ALL MY LOVE
Hard Medicine! aka Mis Annthrope
Kansas existed before the gold standard was abolished. Even before electricity, running water or toilet paper.
I'm in KS. And in the middle of nowhere and staying there. Fuck the earthquake.........I have a boat ill just go Noah style. And really, with all that's going on that's the last of my worries.
all we are is dust in the wind
dude
But, there was a time it was bleeding Kansas and so it may be again.
Fuck, people can't even spell 'good' anymore?
Shouldn't downvote david here. If it is a crash that is one thing. If it is the SHTF then there won't be a market, per se. I think his intention was to point out that brass, lead, and steel might be better metals in that event and along with survival goes the necessities of sustenance and hygiene.
If it were an earthquake graph you had better get to higher ground.
Newtons laws have not been repealed.
That is very very wrong and smells of swan
"that's when to head to the caves with your PMs"
"and the kings of the earth, and the great men, and the rich, and the chiefs of thousands, and the mighty, and every servant, and every freeman, hid themselves in the dens, and in the rocks of the mountains, and they say to the mountains and to the rocks, ‘Fall upon us, and hide us from the face of Him who is sitting upon the throne, and from the anger of the Lamb,’ because come did the great day of His anger, and who is able to stand?" - Revelation 6:15-17, The Sixth Seal
Oh come on...nobody is gonna give a shit about PM's when confronted by the Antichrist. All they'll see is HOPE and CHANGE. lol
Bob, it sounds like you're already in your cave.
Silver on rye tonight?
It is surprising to see the CHF/USD chart upside down.
Thermal nuclear currency war is starting. Someone is getting margin calls tomorrow, and expect to hear some HF blew the fuck up. This year is going to be hilarious in all markets, but FX will be the main event.
Now I wonder... are there any counter parties left
willing to sell currencies for US$???
It's been quite a ride there.
ECB, BoJ, BoE ....
My guess is that right now with the whole lotta shakin' goin' on, some folks is gonna find they needs some good olde USD for settlements in them thar derivative contracts down yonder holler....
Time to wipe out some Euro shorts
Somebody had to pay.
Much wailing and gnashing of teeth in lands far, far away.
There will be a few more FX electornic brokers casualties, moves of this size in $ currency pairings do not usually happen and mostly were probably ultravered in
EUR/USD is the most liquid and traded pair. A 300 pip move is a little odd even for this freak show.
Exactly, a move of such magnitude 200 pips in a minute, on no news (i.e outside of NFP or Fed statements) does never happen. many will be hurting
Exactly, a move of such magnitude 200 pips in a minute, on no news (i.e outside of NFP or Fed statements) does never happen. many will be hurting
Exactly, a move of such magnitude 200 pips in a minute, on no news (i.e outside of NFP or Fed statements) does never happen. many will be hurting
At 50:1 that's a wipeout.
I expect the certain special entities knew what was coming and were positioned. Nothing like cheating to make back some of the money you lost through greed and incompetence. Those exposed and not special will be floating up like fish after a grenade.
Anybody still gambling in this crooked casino deserves what they get. Might as well just play the lotto if you have a gambling addiction.
I love the smell of burning muppet fur in the morning.
"EUR/USD is the most liquid and traded pair. A 300 pip move is a little odd even for this freak show."
You can say that again. Throw in CHF/USD as well. Jesus H. Fucking Christ are we ever getting sick of these Central Bank related massive swings - it is truly truly disgusting.
had to kill the euro shorts before the euro crashes on fri.
Why do you think that 101 years? Is it a hunch or have you got a theory that you don't mind sharing? My gut feels something similar but I have no reasoning for it.
If your "gut" would like the looney view, march 20, fri is the midpoint of the shemitah year.
Give that man a cigar...
It's a beautiful thing. All banks are trapped on the wrong side. In 50 to 1 and 100-1 leverage
Banks getting screwed = You bailing them out.
Along with some hedgies and rule breaking pension funds and insurance companies trying to make any money at all => making the bad trade they thought they'd have a little more time to get out from before such whooshes.
"It's a beautiful thing. All banks are trapped on the wrong side. In 50 to 1 and 100-1 leverage."
Karma is a bitch, bitchez!
I'm sure that the special banks were not trapped on the wrong side.
Reverting to the intrinsic value of bullshit?
Bullshit actually is valuable. I recommend composting it before using it though.
Criky Mate, that's a big one!!!
Why does no one ever seem to consider the amount of money (or liquidity removal) required to make these moves (especially in tandem across all markets) and who has the money to accomplish this and why?
because you'd be considered anti-ceramic to point out the cause.
Clay pots? It's images of ceramic lobsters that keep me up at night.
Careful, that could conceivably be considered anti-crustaceanic.
Correct. Today it's the persecution of the Malocostraca Class, tomorrow the Ostracoda? Who knows with these people. It has to stop now or say goodbye to social justice for all Arthropods.
"First they came for the Malocostracans but I said nothing....."
The Crustaceans are clearly at a disadvantage. With six major classes all competing for desirable demographic exposure, the entire sub-phylum is particularly vulnerable to abuse from identity politics.