This page has been archived and commenting is disabled.
When The World's Reserve Currency Flash Crashed: "I Haven’t Seen Anything Like It Since The Financial Crisis’
On Wednesday afternoon, just after the close of the market, the US Dollar, the world's reserve currency flash crashed. This is how the WSJ described the move:
In the latest episode Wednesday, a message from the U.S. Federal Reserve that it is in no hurry to raise interest rates caused a big slump in the dollar, which has run up a huge rally so far this year. The euro surged more than 4% against the buck, its biggest jump in a single day in 15 years, according to Deutsche Bank. Early on Thursday, the European currency resumed its slide.
The sheer speed of the round trip in the euro-dollar exchange rate—the world’s most heavily traded currency pair—left traders and investors reeling.
We profiled the staggering move in real-time as it was happening:
Again, this is the world's reserve currency, not some two-bit backwater currency pair. It was, also, a stunning, unheard of event.
This is how the rest of America's traders saw it, from the WSJ:
“I haven’t seen anything like it since the financial crisis,” said Paul Lambert, head of currency at Insight Investment, which manages $480 billion of assets.
Traders said Wednesday’s move brought back memories of January’s surge in the Swiss franc, when the currency climbed more than 40% after the Swiss central bank abandoned its policy of capping the franc’s strength against the euro. For a few minutes on Wednesday, the lack of dollar buyers caused a short-term freeze in electronic trading platforms, according to a New York-based trader at a major currency-dealing bank. “There was a lot of shouting on the desk, a lot of nervousness,” the trader said.
“The dollar has been experiencing fastest pace of ascent in 40 years. Our long-term outlook for the euro is still lower, but risk here is for a decent pullback,” said Matthew Cobon, head of interest rates and currencies at Threadneedle Investments in London, which has a total $54.3 billion of assets. Mr. Cobon had bet on a bounce back for the euro ahead of Wednesday’s Fed meeting.
None of this was unexpected, if only to our readers: recall that as we showed in the start of the year, the short 10Y and the long USD were the two most crowded, biggest consensus trades across the spec investor community, perhaps in history.
But while everyone got crushed on the Short 10Year trade shortly thereafter, the USD trade kept working... until Wednesday, when the entire groupthink monorail slammed into a brick wall.
So now what? Well, more of the same... and prayer.
The sharp swings also raise a now-familiar complaint from investors: Regulations brought in after the financial crisis have dried up the liquidity in markets, by crimping banks’ ability to carry risky bets on their balance sheets.
On Wednesday, the Bank for International Settlements became the latest major authority to caution that a lack of liquidity could lead to major disruptions in financial markets.
“When flow hits the market, there’s no buffer, so it translates straight into big price moves,” said Mr. Lambert at Insight Investment. During the financial crisis, big swings were sparked by fears of a collapse of the banking system. Similar moves can now result from a minor reassessment of the Fed’s rate-increase plans, according to Mr. Lambert.
So to summarize:
- the stock market flash crash of May 6, 2010
- the Treasury bond flash crash of October 15, 2014
- and now the US Dollar flash crash of March 18, 2015
And all of this happening as the "market" is rising, and as of today, poised to set new all time highs.
What happens when the real selling actually begins, and what little liquidity exists even now, is completely gone. The answer? Exchanges will simply close down and refuse to open or satisfy any asset liquidation demands, indefinitely, until either the Fed can once again bailout the system, or when the US government finally makes the sale of any asset, illegal.
- 103510 reads
- Printer-friendly version
- Send to friend
- advertisements -






Better get used to it.
We flash-crashed some "folks"...
I swear I'm living in an Ayn Rand novel. A slow motion version. And it's so painful to watch because I know how the story ends.
Do you mean Atlas Shrugged?
And we all are shrugging. The path is set. Just sit back hoping and praying that we are standing on firm earth when the quake begins.
Risk is on, regardless of what anyone says.
"Risk is on", yes, that's life, it's always on. But why make matters worse by rewarding bad behavior and unleasing the unpredictability of real moral hazard? No one escapes the latter...
That should be expected when the market is a certifiable, bona fide Ponzi...well, it's all a Federal Reserve propped up synthetic facade.
Recent article details the mechanics of the Ponzi in the Treasury market.
http://econimica.blogspot.com/
So what Ham-bone, who is going to be the first to sell? Especially in light of NIRP in the E.Z.
Do tell...
Is USD still overvalued by 50%?
The "Flash Crash" got its name from an order type, known as a "Flash Order"
Are there Flash Orders in the ForEx markets?
If not, this is not a Flash Crash. It might be algo-induced, but its not a flash crash.
Also, the chart for the Swiss Franc is misslabelled. It should be USDCHF
all i want to know is how many primary dealers get to have their trades reversed, as opposed to the little guys who got stoped out and had to take it with no lubrication.
I guess this might be even the top for the USD trend.
As in, you never know, there were rumors recently about FX market maker(s) doing rigging in the NOK, EUR, WTI (a NOK driver to some degree) and now interestingly, it's the NOK that emerged as the biggest gainer against the USD in this charade.
In that sense, this recent drop to new lows and reversal could be a 'U turn' maneuver to make some room for the cronies for position adjustments.
Also looking elsewhere, e.g. at USD/JPY monotonically creeping back to the Dec 8 highs and flatlining just before the FOMC or John Key's personal insider trading vehicle, NZD/USD paintig a double bottom, and all this timely correlated throughout the whole complex looks indeed quite algo-y.
(Not to mention silver today which was obviously rigged for the good part of 2014.)
Laws,
the article I linked shows there is no "natural" buyer of Treasury debt any longer...but there is a perpetual synthetic bid that is likely to only get stronger. And pretty sure it's the same to some degree across all "markets". In essence, Japan, US, UK, EU etc. are all synthetically buying assets with printed money and permenantly removing these assets.
What is clear is those nations with dollar trade surplus' are not putting those dollars back into Treasury's and instead into gold or other harder assets. Perhaps they know something?
"What is clear is those nations with dollar trade surplus' are not putting those dollars back into Treasury's and instead into gold or other harder assets." -- I am a simple farmer, but this is exactly what I have been doing as well. My god, don't tell me that someone like me has become a financial guru. We are truly fucked in that case.
The issue is those HFT desks. Sure it creates liquidity for their own. But in reality, they've killed most speculators and investors and now the whole market is nothing else but HFT desks. Nobody invests big time anymore because of this ponzi and everybody knows that it is a big ponzi. As long as these HFT is allowed, better trade with 1 thousands or 2 thousands not hundreds until they feel the pain them self and start killing eachother. Take away the money and let them eat eachother. If you don't do it, they will take your money within the next 2 years.
oh fuck the talking video ads are back on the hedge. what a shit way to run a web site!
Use Firefox browser, and download the following add-ons:
Ad-Block Plus, No-Script, and Ghostery.
Problem solved.
Had the same problem. Running windows, just installed Ghostery - ***POOF*** problem solved.
That's the plan. The only way the morally bankrupt can find solace is by dragging as many people as they can down with them. They need to be able to say, "See, you're no better than me" when somebody else slips and falls into the cess pool in which they live every day. You see, when the corrupt can no longer find "happiness" in the the drugs, ill-gotten gains and sexual deviations, they find it in watching others stumble into the same traps that they are stuck in. And woe to those who recognize their error try to crawl back out, they are the enemy, and the morally bankrupt will actively sabotage their attempts to escape by calling them hypcrits. Guilt and shame are one of the most powerful weapons of the corrupt, and quite often good people are paralyzed by it after slipping and falling, and those who hate them know it, and that is all they want. The good to be paralyzed and the weak to fall. All so they can feel better about themselves and what they are doing.
At last, thugged!
Now an instruction manual for how to dismantle society. Soon to be a regarded as a history textbook.
What happens when the real selling actually begins, and what little liquidity exists even now, is completely gone. The answer? Exchanges will simply close down and refuse to open or satisfy any asset liquidation demands, indefinitely, until either the Fed can once again bailout the system, or when the US government finally makes the sale of any asset, illegal.
Pure prohpecy. It will go down in history as The Great Freeze
"The Great Dark Freeze"
Fasten your seat belts. It still hurts at impact.
We have graduated from A Brave New World into some evil combination of 1984 and Atlas Shrugged.
Who profits from "it"?
Stephen King?..
(buh -doom- psshh)
SE don't give up your day job ;>)
I would like to know this as well. Money doesn't go poof, so in any crash, be it assets, currency, or markets, who profits? We call them the money-changers but who the fuck are "they"!?!
Don't trade with leverage...... or better yet, don't trade in these rigged markets at all, buy gold, silver and wait for the STHTF.
https://www.youtube.com/watch?v=gzwyZI_DKjM
Yes. But it will be very dark for a while. Remember, PMs are insurance not investment.
You ain't seen nothing yet
"What happens when the real selling actually begins, and what little liquidity exists even now, is completely gone. The answer? Exchanges will simply close down and refuse to open or satisfy any asset liquidation demands, indefinitely"
Well it's same in Europe. But luckily americans buy much :)
HFT "beneficial liquidity" strikes again.
Some color: quotes to sell USD or CAD on my desk are usually 1bp wide (we need it to hedge equities overnight)
FX desks we're in constant chat with were trying to quote us a full 10-20bp that day right after the close. Insane.
Nice to be a market maker, eh?
The niceyness is just getting started.
What does Jan have to do now that dollars are drying up???
<----Let it continue.
<----Get down to serious business and print physical FRNs like there is (and will be) no tomorrow.
I was hoping there would be a analysis of this "disturbance in the force", it is significant. How many dollars would have to be sold to get this move?!? Can someone, anyone answer this question?
an excellent question
It depends on market liquidity at the time, and at the time it happened it is usually low.
It could have been a lapse in the sense that maybe a fiber optic cable was down at the West Creek Operations center and the FED wasn't there to "provide liquidity" = match buying liquidity with a sell stop cascade for an instant.
Who knows...glitch in the matrix...Is't all a charade now anyway.
Actual paper dollars or computer zero's and ones?
That is NOT the Right Question - in fact, that Question and the Answer is irrelevant.
The "Right" Question is What is Liquidity ?
True "Liquidity" is UNENCUMBERED CAPITAL.
To Fully Understand that, one needs to study The Law of Encumbrance.
Despite what many may think, Most Wealthy and Powerful Individuals do NOT have the Depth of Knowledge Necessary to do so. Ergo, the Average Individual is clueless.
Knowledge is Power, and as you would say "Same as it's ever been".
But Knowledge requires PAYMENT of the most Valuable Currency of all:
TIME.
Most want the Benefit, but are unwilling to pay up.
Many here on ZH and elsewhere rail against the Federal Reserve, thereby demonstrating that they indeed lack any understanding of "Liquidity" much less The Law of Encumbrance.
The Federal Reserve CANNOT create a SINGLE DOLLAR of Unencumbered Capital.
This is one of the Most Important things to Understand, to begin having a grasp of what is going on, and how it all plays out.
The Difference between "Liquidity" as the term is commonly used by Markets and Participants, and "True Liquidity" is quite vast, and is bouncing at its Outer Parameters.
THIS is what is Manifesting in various Instruments, and their seemingly illogical and extraordinary movements.
Thus, as I have said: Trillions, NOT Billions will Permanently Lost by Current Rentiers.
The Primary Thing Wrong with "Tyler" et al., and most here is this:
It is BEANS, BULLETS AND US BILLS.
u talkin about debt-money vs debt free money?
Not much since liquidity dried up because of HFT. so one contract could have caused 1 pip move.
Exactly why I wont take on any out of the money options.
The only way to win is not to play.If you are trading this market, make sure its only what you
can afford to lose, "cause you will sooner or later.
Do I whistle Yankee Doodle Dandy or Ride of the Valkyries?
one should be able to whistle both with equal enthusiasm.....
Well Mr. Lowlife Trader, we have something in this territory called a Mizzura boatride.
I believe this is what is commonly referred to as "running the stops".
Also known as "shearing the sheep".
Everyone knows there is no escape. Thats why they stay in. No place to go.
What happens when the real selling actually begins, and what little liquidity exists even now, is completely gone. The answer? Exchanges will simply close down and refuse to open...
Precisely the plan.
I'm still looking at those stupid people hanging on. Business must be up at Disney World.
http://beforeitsnews.com/prophecy/2015/03/this-is-big-big-the-biblical-w...
Beforeitsnews.com is an aspiring Internet equivalent of National Enquirer. Believe it at your own peril. Btw, (allegedly secure) email service Unseen.is and Facebook-like Seen.is are companies related to BeforeItsNews according to this article and this video.
That site is a full tilt nut site. There are some other full nut sites that you sometimes can glean some good links from but this is not one of those sites. I never trust a site that links only to its own stories as references. I complained about the self-referencing nature of the site to the owner a couple times and nothing was done. That site is one of a hand full that does that. I've actually placed a block on that URL.
Someone said Nation Enquirer.. I would more aptly apply the label, National Lampoon.
Do you realize that different religious groups have been claiming the end of times or "apocalypse" is near at pretty much all times in the past 1000 years. Their broken clocks aren't even right once a millennium.
no big deal, yellen has an awesome set of tools
The most fundamental thing in this post for people to understand is the quotation marks surrounding the word "market" when TD says it's rising. There are now thousands of comments on this board and others pointing out that there is no market. A centrally-planned market is not a market. The problem is that no one knows what to do next if the decision were made to end the current disaster. We are in fairy-land, and there is no map. What a weird world this is.
`Cheshire Puss,' she began, rather timidly, as she did not at all know whether it would like the name: however, it only grinned a little wider. `Come, it's pleased so far,' thought Alice, and she went on. `Would you tell me, please, which way I ought to go from here?'
Alice speaks to Cheshire Cat
`That depends a good deal on where you want to get to,' said the Cat.
`I don't much care where--' said Alice.
`Then it doesn't matter which way you go,' said the Cat.
`--so long as I get somewhere,' Alice added as an explanation.
`Oh, you're sure to do that,' said the Cat, `if you only walk long enough.'
Alice felt that this could not be denied, so she tried another question. `What sort of people live about here?'
`In that direction,' the Cat said, waving its right paw round, `lives a Hatter: and in that direction,' waving the other paw, `lives a March Hare. Visit either you like: they're both mad.'
This is how it will all end one day..or night....all the algos will be on the same side...and just tank the whole thing...then the fear will hit the people..and the bank runs will be on....then the retailers will change the prices....then its over for all practical reason
"To the degree that she glorified herself and lived sensuously, to the same degree give her torment and mourning; for she says in her heart, 'I SIT as A QUEEN AND I AM NOT A WIDOW, and will never see mourning.' "For this reason in one day her plagues will come, pestilence and mourning and famine, and she will be burned up with fire; for the Lord God who judges her is strong." - Revelation 18:7-8
Truth spoken; Seek
We try to kill the bear financially (Saudi does the US bidding and temporarily floods the market with oil, killing shale in the process called collateral damage), and we send heavy armor on their doorstep in Croatia/Ukraine.
We can't even play checkers, while they play chess. Russia is moving their pieces into position, and when they are ready, they will nuke New York, Washington, and only God knows where else. Think Sodom and Gomorra, and it will happen in God’s own time.
Life is flesh, be strong in spirit as it is eternal. You know because you seek…..truth. Many do not, to their peril. Many will weep and mourn, for they think it cannot happen here, until it does.
Interesting times, as I pray for all the good people to come into repentance, for the sins of Sodom and Gomorra, and worse; are here and now.
Go in peace you who are weary and heavily laden, for God will give rest for those who seek him, his Son, the Holy Spirit, and use his Word as a lamp unto their feet.
Everyone was short euro and they all decided to cover about the same time. The Fed creates these types of event driven dislocations.
yep - sell the currency (USD) that pays interest and buy the euro (that charges interest - NIRP) on their respective bonds.
just a bunch of central bankers fucking around with the global economy like it was their personal video game.
It was just an accident. Fat finger, wet finger, greasy finger...
...middle finger...
There is no there there. Every currrency is garbage. Just 0's and 1's. They force us to accept a worthless currency with Legal Tender laws that clearly violate the 5th amendment "taking" of property. How do they do that? Simple. Pack the court, and F' the people. Lather rinse repeat.
http://www.thetruthaboutthelaw.com/they-make-you-use-money-that-is-backe...
Take a look at Title 12 USC § 411
This was just a test, they wanted to see the reaction. Now they KNOW!
Probably no coincidence that Putin has upped his military readiness lately.
"flash" crash from tyler : when for a milli sec a -1% occur before jump back by 2%...
i stopped considering that shit number scam graphs.
to me, a crash is when the market close with a solid -20% and TV news start with : rich/elite are in the saferooms while massiv riots actually occuring all around the city, all ATM are not working anymore, and gov is silenced while police is strugling for live on its own.
until that, i dont give a flush.
When things don't go as planned by the statists they turn to repression.
This is what I see happening someday. Like a Bank Holiday..
"What happens when the real selling actually begins, and what little liquidity exists even now, is completely gone. The answer? Exchanges will simply close down and refuse to open or satisfy any asset liquidation demands, indefinitely, until either the Fed can once again bailout the system, or when the US government finally makes the sale of any asset, illegal."
If you have money in Electronic form...(you don't have it in your hand), You may not be able to get it period.
The Bank Doesn't Have YOUR money, You have a lien on THEIR money.
Exactly. A long time ago I started setting aside pallets of $100 bills because in such a very real currency crisis, the physical note will actually retain some value. None of this is really new from a historical perspective. Remember the FRN has been "revalued" before overnight. No reason why it can't be again.
Right!
..."revalued" before overnight"
One day it has X value, next day it has Y value.
Historically, Gold served as a bridge from one day to the next in that scenearo.
Hopefully perserving your 'Value" in the process.
laws, you have pallets of 100$ bills?!? dude we gotta hang out i will buy you a pallet of beer! hehe
Its THEIR money. Says it right on it.
You allowed to play with it, but when they want it back.Tough shit.
Well really more of an extention of credit, that is what the Fed say them selves with no stated value. When you show this to the IRS from the FED's own documents that's when it really gets hairy because you can't count credit as income from a taxable stand point.
"The Bank Doesn't Have YOUR money, You have a lien on THEIR money."
Is that original? or from someone else? just wondering who I should give credit to.
Mine.
But it is the truth.
"You can lead a man to knowledge, but you can't make him think"
Ah, I said that.
'Since the crisis'....which was only a crisis because banksters suddenly got a bit squeezed. All horse shot.
I can explain it all ..
There was an empty toner cartridge at the Fed's fiat press and it needed to be changed before printing could be resumed.
However that's been done and they are back on line to keep the liquidity pipeline full.
There is no spoon, Neo.
I am now certain the Pope is about to visit the White House.
http://time.com/3752462/pope-francis-gay-transgender-prison/
He'll embrace the Sodomites in September in NY and DC.
He doesn't golf.
Maybe O'BooBoo can take him to Hawaii with him on his next taxpayer fueled *vacation-o-rama*. The Pope could carry his golf clubs; that 'holy-hat' would look bad-ass out on the links...
"It's like I was playing some kind of game, but the rules don't make any sense to me. They're being made up by all the wrong people. I mean no one makes them up. They seem to make themselves up". ........The Graduate
To drop the word patience was the first strike - hopeful - followed by some ridiculous words about "official" figures - desasterous - caused squeezes in US$, shares and other assets in different perspectives.
So we will see the first hike in June to September 2015. Uncertainty about what is following the hike is fearsome to Yellen an collegues. So it may be that they will postpone again.
I can't wait to see all of these sniveling-whiney investment houses see more and more of these so-called "Liquidity" issues screwing up their Algo trades in the Big Casino. They whine all the time for more help in making it easier to fuck the common investors.
serious question.
i deff agree that this world is one fucked up place now, specifically the ''markets''.
with that being said, we all talk about ( including myself) how this will end very badly. so with that being said, why can they not just continue doing this forever? they have been doing it for 6 years and they have shown no signs of letting go.
when people say they will own the entire market and have no one to sell to, well they r central bankers, they r creating money out of thin air, there objective is to prop up asset prices as high as possible, and have people come into the market to feel a ''wealth'' effect,
who says they ever will need to sell, they rnt doing this to make a profit, they r doing this to inflate stock prices so everyone feels wealthy.
im just asking, because while i am not in the ''market'' and will not be until it collapses( if it does) it just seems that this thing will never end.
Your guess is as good as ours. The answer will come as usual when no one is expecting it.
@tmr,
Going on for six years? It's been going on since before biblical times, and no, they are not going to let go, that is not what parasites do. See Taibbi's. blood funnel.
Remember they don't care what the price is, they just print money, it's about, the flow. They continually live off of the skim [cream].
We are being harvested, not a great deal different than the Matrix, only I don't see Neo coming? I do however witness Zion.
THEIR SYSTEMS SUCK - RETAILS BROKERS DIDN'T LOCK UP.
I HAVE NO IDEA WTF IS GOING ON = System Freeze.
The pleasure of being considered an unsecured creditor when you deposit paper ponzi currency into a bank.
I have noticed when a market has a volient move after a decent trend, the price nearly always retests that extreme point and often exceeds it.
It's like a minor heart attack, before your dead!
I was there, it was an outrageous move. Expect more moves like this in EVERY market where the Riverboaters are active. This is a growing trend folks.
On the back of all of this, I've been thinking about Gold.
I wouldn't be surprised if within the year we see a $200 upmove in Gold within 5 mins and the last $100 of that within the last 1 minute.
Silver is up, too. If it ever gets back to $30 I might break even. :-) This is the perfect opportunity for everyone who bought silver at $3 to let us all know how smart you are.
Of course, I was the only person who bought at $30, as you'll see from the responses. No one paid $50 either. They all had heart attacks and died off.
Bought a ton @ 6.02. Stopped buying @~9
Why did you buy at $30/oz?? Everybody knows you can go dig a hole in your yard and get it for $5/oz.
Btw, I've bought some at $30 too, just not much. My dollar cost avg is around $14. ALWAYS stack.
The first time I bought at 20.80 within a few days of Reagan being elected. I had to sell my ingots 3 years later at around 7.80 to keep my house.
I got about 25k from my property settlement with the x after 24 lousy years. Who fucking new that "half" meant 85%? I thought I would put it all in silver and gold around '01? Bought plenty in between 6 and 9 sumpthin? I used 5-1 margin, and partially due to lousy cell reception and believing suggestions from MONEX, I lost my ass, even when silver was going up? Fuck me. I bought gold just before the wedding season, and something happened and Japan dumped gazillions in the market and ...."its gone".
WTF, I have bought some more, avg. 20 or so, you are not alone. The market is absolutely manipulated. BTFD I think now [phys], at any price under 20, jmho
We'll see a 1,000 point move in major spot FX pairs one day. MAKE A HOUSE.
the pendulum is swinging. this is the single biggest danger of bot trading. in the old days of people trading trends were formed on a measured slope because humans boarded the train at a slower pace to critical mass. in bot trading the trend is formed without a pass through critical mass resulting in a telltale spike. it happened in oil just recently. it was bound to happen in the eur/dollar. back to 1.15-20. it may go higher as yellen starts up the printopalooza tour with all the room the dollar has.
Please tell us you're making printopalooza t-shirts.
The king is dead, long live fiat hahaha
Just buy UUP calls every time UUP falls like it is today. USD is going to the moon.
Forex knows we are going into depression and they have no idea what currency is good or not. That's why this is happening.
Was anyone here buying at the time?
Well, then what do you expect?
Markets, how do they work?
Was it the Worst Since Lehman ™?
Flash Crash Market of 2010 anniversary aproaches. June 2015 makes a daring move or keeps printing money.
It will be the exit door of a nightclub fire. Just crammed full of horizontal bodies, charred on the inside. Garbage won't trade, and what will trade will crater in price.
Some corporate taglines redux by moi
Enjoy :)
GOLD Everywhere you want to be
LEAD It's whats for dinner
SILVER The other white metal
USD ”The Ultimate Diving Machine”
EUR Good to the last drop
GRD "Do More"
JPY The next stage
RUB Takes a licking and keeps on ticking
CNY Legendary reliability
ZWL I’ve fallen and I can’t get up
4PM The pause that refreshes
SEC No rules Just right
PPT We move the world
FED Talk They’ll listen
CNBC The art of performance
ProShares How well do you share?
Hewlett Packard Strong enough for a man, but made for a woman
Madoff Investment Securities LLC That was easy
Ak47 Reach out and touch someone
And that $5 trillion volume per day foreign exchange market phrase that keeps getting repeated.
It's utter bullshit. It's probably to paint a picture that it's so impossible to rig it.
This move shows again it's hollower than we might think. The financial journalists are either fools or covering up this global fraud.
The sign of the apocalypse...
Getting used to it will only be short lived. The US is not going to roll over as the rest of the world denies our reserrve currency. There will be hell to pay. That's why I keep saying the only, logical, eventuality is war - the great thinning...
Come join us for free at www.gunsgrubandgold.com
Survival files, links, charts, food calculators!
The way things have been going over the last few years the flash crash could be reversed overnight.
CHAOS
Dont worry. Its only a computer screen. Its got fuck all to do with reality.
Monday I'm selling everything: Calls, puts, short calls, short puts, VIX, anti VIX ETF, stocks, bonds, EURUSD, USDEUR, USDJPY, JPYUSD, AUD, NZD, gold, oil, CHF, anything Greek! HA
Seriously Tyler's you're starting to sound like the CNBC of doom and gloom. In the late 80's CB intervention would move currencies 4-5 % in a heartbeat. FAST MARKET would apear on the screen and surprise, your stop order would get filed 500 pips/ticks from where it was placed. I can remember the £ trading 1.56 one second and 1.65 the next. 1.58 B1.60B 1.62B 1.65B 1.65 trade and then right back to 1.61. All with FM
Shit on BLACK MONDAY I couldn't get a market order filled in the S&P pit for 4 minutes. Brokers wouldn't take any orders. Once again FAST MARKET. Same shit different platform same as it ever was.
This was NOT a "flash crash." ZH has been overusing that term A LOT lately.
Spot FX has run and gunned large for decades.
I never noticed, but I did notice that at the Jamba Juice today their system was down so it was cash only. I don't know if it had to do with anything else or not.
the fx, s&p, and the dow, and most markets are no different than what they've turned the gold markets into, trading non-asset backed paper.
the public auction will be coming, and your going to have to prove to the public why your assets are worth 50% more than 2008, and in most aspects the economy is worst.