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FX Brokerages Move To "Close Only" Ahead Of Monday Open

Tyler Durden's picture




 

First at Mayzus:

Upcoming risk - Instruments moving to 'Close Only' mode

 

Due to the uncertainty surrounding the ongoing Greek debt negotiations, and ahead of a potential announcement over the weekend that could lead to high volatility on the market, please be informed that we have decided to decrease your risks by temporarily moving all Instruments to 'Close Only' mode, from 22:30 GMT+3 on Friday the 26th of June 2015, until 00:30 GMT+3 on Monday the 29th of June 2015, trading terminal time.

 

Please take this information into consideration whilst making your trading decisions.

 

If you have any further questions regarding this issue, then please feel free to contact your Personal Account Manager or our support department on support@mayzus.com.

... next FxPro:

With Greece’s uncertain future in the Eurozone continuing to dominate the headlines, we would like to inform you that we are doing everything in our power to reduce the risk of trading EUR pairs.

 

In order to provide a safeguard against a highly volatile market open, trading on EUR pairs may be subject to increased margin requirements.

 

This depends on the outcome of today’s decisive Eurogroup meeting, and how the situation in Greece unfolds over the rest of the weekend.

 

Please be advised that, depending on the severity of market conditions come Sunday night/Monday morning, we reserve the right to limit EUR trading to the closing of existing positions only.

 

We will, of course, inform you of the trading conditions that will apply to EUR pairs before market open.

... shortly, everywhere else.

h/t misinfo

 

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Sat, 06/27/2015 - 13:23 | 6241697 One And Only
One And Only's picture

No more trading. Markets are closed till further announcement. Have a nice day.

Sat, 06/27/2015 - 13:31 | 6241723 disabledvet
disabledvet's picture

All euro denominated debt is for the forseeable future now functionally worhless is I interpet that.

In other words lending against anything denominated in that so called currency is verboten.

Does that sound righ to everyone else here too?

Sat, 06/27/2015 - 13:33 | 6241730 Beam Me Up Scotty
Beam Me Up Scotty's picture

The Fed will probably buy all of those worthless euros to keep the market bid.  They've got lots of dollars they can create.

Sat, 06/27/2015 - 13:36 | 6241738 One And Only
One And Only's picture

"These swap facilities respond to the re-emergence of strains in short term funding markets in Europe. They are designed to improve liquidity conditions in global money markets and to minimize the risk that strains abroad could spread to U.S. markets, by providing foreign central banks with the capacity to deliver U.S. dollar funding to institutions in their jurisdictions.  "

http://www.newyorkfed.org/markets/fxswap/fxswap_recent.cfm

Sat, 06/27/2015 - 13:44 | 6241763 BurningFuld
BurningFuld's picture

We're going to need a bigger bazooka!

Sat, 06/27/2015 - 13:49 | 6241769 BaBaBouy
BaBaBouy's picture

"" Upcoming risk - Instruments moving to 'Close Only' mode ""

Hehehehe, Just Wait Until The NUKE OPTIONS Arrives::: ALL Physical GOLD (Au/Ag) Deliveries "SUSPENDED"!

Sat, 06/27/2015 - 14:04 | 6241812 wee-weed up
wee-weed up's picture

It begins...

Sat, 06/27/2015 - 14:16 | 6241834 max2205
max2205's picture

Atms are deposit only 

Sat, 06/27/2015 - 14:18 | 6241840 AlaricBalth
AlaricBalth's picture

Careful. You'll start a bank run here.

Sat, 06/27/2015 - 14:28 | 6241887 Waylon Bits
Waylon Bits's picture

Can shit just finally "get real"?

Sat, 06/27/2015 - 14:35 | 6241913 yogibear
yogibear's picture

Welcome to the financial twilight zone again.

Sat, 06/27/2015 - 15:02 | 6241987 FinalEvent
FinalEvent's picture

My name?

Not my name.

Sat, 06/27/2015 - 15:03 | 6241992 SWRichmond
SWRichmond's picture
FX Brokerages Move To "Close Only" Ahead Of Monday Open

Holy Hunt Brothers, Batman!

Sat, 06/27/2015 - 16:05 | 6242150 ThroxxOfVron
ThroxxOfVron's picture

"FX Brokerages Move To "Close Only" Ahead Of Monday Open

 

Holy Hunt Brothers, Batman! "

 

You can sell; but, no one is allowed to buy???

Where are the 'market makers'?

This sounds like a liquidity problem.  Wasn't HFT supposed to make that impossible?

Sat, 06/27/2015 - 16:14 | 6242178 Dadburnitpa
Dadburnitpa's picture

Long = Sell to close.

Short = Buy to close.

Sun, 06/28/2015 - 01:03 | 6243467 TruthInSunshine
TruthInSunshine's picture

Greece will be "rescued" at the 11 1/2 hour.

Too many banks that own "democratically elected" politicians would be hurt to a far too great degree by a Grexit (then a Portexit, a Spaixit, Italxit, etc.).

Sun, 06/28/2015 - 02:31 | 6243530 disabledvet
disabledvet's picture

And then the USA finally gets the war with Russia it has been pining woe these many years?

Hmmm.

Something doesn't sound right with that "train of thought"...

Sun, 06/28/2015 - 03:10 | 6243553 Max Steel
Max Steel's picture

and it will cease to exist .

Sat, 06/27/2015 - 16:14 | 6242182 ilion
ilion's picture

Tickmill has informed its retail and institutional clients that trading will start as normal on Sunday night and that it is well prepared to provide excellent brokerage services even in light of expected market turmoil on Monday. Business as usual there.

Sat, 06/27/2015 - 16:34 | 6242237 Son of Loki
Son of Loki's picture

I bought a $32 dollar T-shirt today for $2.

I'm going to resell it to my older brother for $4.50.

Am I a 'market maker?'

Sat, 06/27/2015 - 16:51 | 6242279 thamnosma
thamnosma's picture

If your brother pops for the 4.50 I'd say you are quite a successful one as well.

Sat, 06/27/2015 - 17:56 | 6242454 espirit
espirit's picture

To everyone of these clickbait articles related to Greesy Exit:

Which Monday?

Sat, 06/27/2015 - 18:47 | 6242627 Zero Point
Zero Point's picture

FREE BEER TOMORROW

Sat, 06/27/2015 - 20:50 | 6242979 freet0pian
freet0pian's picture

Ooh mah boy got his first ZH article published :)

Sat, 06/27/2015 - 14:37 | 6241919 macholatte
macholatte's picture

 

Somewhere, some how, the American tax payer is going to get fucked over.

 

 

Sat, 06/27/2015 - 15:08 | 6242009 disabledvet
disabledvet's picture

Be interesting to see if even the London Stock Exchange is open come Monday actually...

Sat, 06/27/2015 - 18:18 | 6242500 franzpick
franzpick's picture

You can watch the carnage 9 hours earlier when world equity futures open at 3pm PT, at which time I plan to commit a foul and be ejected from Sunday lawn bowling so I can proceed to the bar to watch the futures price collapse and what I hope is the beginning of a fatal Brussel's bleed out. My leading downside indicators XLB basic materials and the trannies are pointing down 3% where players may be suiting up for a varsity game of catch-the-falling-knife around DJIA minus 550 and SPX down 60 points. We'll see...

http://www.investing.com/indices/us-30-futures-advanced-chart

Sat, 06/27/2015 - 18:39 | 6242602 gatorengineer
gatorengineer's picture

Mondays us open is flat.  The ppt has been training for this event

Sun, 06/28/2015 - 01:06 | 6243471 TruthInSunshine
TruthInSunshine's picture

Monday will se a MASSIVE equity market rally as Greece & the EU miraculously work out a solution (due to bankster pressure/meddling) to keep insolvent Greece in the insolvent EU.

Sat, 06/27/2015 - 15:17 | 6242034 Paveway IV
Paveway IV's picture

GET...? As in future tense?

Everyone is part of the Rothschild empire. There are no 'special' taxpayers, there are only the first in line.

Pinhead: Down the dark decades of your pain, this will seem like a memory of Heaven. 

Sat, 06/27/2015 - 16:07 | 6242161 serotonindumptruck
serotonindumptruck's picture

"Your suffering shall be legendary!"

Sat, 06/27/2015 - 15:39 | 6242088 Theosebes Goodfellow
Theosebes Goodfellow's picture

~"Somewhere, some how, the American tax payer is going to get fucked over."~

Dude, that deal's already been done. And I mean, apart from the homosexual-poligamy marriage declaration from SCOTUS, and the SCOTUS re-write of Obamacare, and the broken borders, and the Obama drone war, the Lois Lerner IRS, and on, and on, and on . We're on the hook for the $12+ TRILLION since Bush-Obama got a hold of the debt. Macholatte bro, we done been fucked over already. The shaft is up the poop shoot. How cool are the govt. printing presses that don't even require fuckin' paper?!?!

Sat, 06/27/2015 - 17:59 | 6242467 espirit
espirit's picture

Sorry Dude,

I'm not accepting responsibility (financial or otherwise) for any of this shit.

Molon Labe.

Sun, 06/28/2015 - 02:36 | 6243533 macholatte
macholatte's picture

 

Gents:

Please allow me to edit my earlier remark:

 

Somewhere, some how, the American tax payer is going to get fucked over....AGAIN!

 

 

Clowns are the pegs on which the circus is hung.

P. T. Barnum


Sat, 06/27/2015 - 18:41 | 6242610 Bangin7GramRocks
Bangin7GramRocks's picture

Fuckin A right Dude!

Sat, 06/27/2015 - 19:42 | 6242806 Took Red Pill
Took Red Pill's picture

"Somewhere, some how, the American tax payer is going to get fucked over."

Along with the German taxpayers

Sat, 06/27/2015 - 20:56 | 6242987 logicalman
logicalman's picture

The _______ 'fill in the blank' taxpayer always gets fucked.

FIFY

Sat, 06/27/2015 - 14:50 | 6241958 Dominus Ludificatio
Dominus Ludificatio's picture

Greeks can always start using the barter system for all transactions and avoid the tax man and the banks,at the same time.

Sat, 06/27/2015 - 15:02 | 6241990 FinalEvent
FinalEvent's picture

Bitcoin?

Sat, 06/27/2015 - 15:10 | 6242015 disabledvet
disabledvet's picture

"You say you will sell me 1000 gallons of Greek Oil for ten cents and I will offer you one dollar."

Proceed from there...

Sat, 06/27/2015 - 17:21 | 6242351 Dewey Cheatum Howe
Dewey Cheatum Howe's picture

Start? Remember we are only presented the free shit army Greek types in the media. It is always the most addicted that is trotted out to justify keeping systems intact. We only hear about the tax dodging problems never the other half of how the tax dodgers really live and transact. You wouldn't want to give the proles any ideas or 'hope' that it really is better on the other side of the fence. How many have already rejected the system outright and doing just fine bartering and living within their means hiding in the hills and countryside that we don't see or hear about? You know that think about perception and reality like out of sight/sound out of mind.

Sat, 06/27/2015 - 21:02 | 6242999 Tall Tom
Tall Tom's picture

Shhhhhhhhhh....

Sat, 06/27/2015 - 14:24 | 6241872 noronoro
noronoro's picture

It still can print small papers.

Sat, 06/27/2015 - 16:09 | 6242164 ThrowAwayYourTV
ThrowAwayYourTV's picture

Ha! I'll bet there's huge lines of people making deposits. :)

 

Sat, 06/27/2015 - 14:22 | 6241863 janus
janus's picture

true dat...

while reading this brief article, the score from a classic piece streaked through the higher regions of my hippocampus:

https://www.youtube.com/watch?v=ARO7ZjsXSkE

what trembling there shall be,

janus

Sat, 06/27/2015 - 17:48 | 6242423 palmereldritch
palmereldritch's picture

Reminds me of this

https://www.youtube.com/watch?v=GXFSK0ogeg4

NWO Fortuna pagan sacrifice soundtrack in da house

Sat, 06/27/2015 - 19:56 | 6242836 Amish FinEng
Amish FinEng's picture

Oh yea, Zerohedge. Gloom, doom, and all the stupid comments that you can stomach.

Stoopid joos run the place anyway. Fuck you Icahn! You pedophilic joo fuck!

And fuck you too you lurking piece of shit!

Close only! FUCK YOU!

Sat, 06/27/2015 - 23:18 | 6243306 ThroxxOfVron
ThroxxOfVron's picture

C'mon Jacob; put the keyboard down before you hurt somebody.

Waddaya mean ya don't own a flashlight?

Stop with the broken yiddish, dammit!

Sat, 06/27/2015 - 23:33 | 6243335 palmereldritch
palmereldritch's picture

Minion much?

Sat, 06/27/2015 - 14:46 | 6241944 MarsInScorpio
MarsInScorpio's picture

For those of us in the "eager to learn" category, please educate us to exactly what it is that is beginning; what is it that is begiinning, how does it work - the mechanics of it, what other activites - "things" - does it impact, what and how do these impacted items do to change the market, what chain of events are set off, and does it just cause a temporary harm or does it start an implosion and how serious is this, and finally, who  will try to offset these effects and how will they do it?

 

Oh yeah - and what is the liklihood of the effects and its chain occuring, and if it does, the liklihood of the entity(ies) successfully offsetting it?

 

Thanks!

-30-

Sat, 06/27/2015 - 15:15 | 6242032 disabledvet
disabledvet's picture

If you have no Cotten you have no product from whence to physical dollar (all Greenbacks are in fact LINEN not paper)...so, long Linen producers and King Cotten come Monday.

Sat, 06/27/2015 - 18:02 | 6242483 espirit
espirit's picture

Again, which Monday?

Early or late are both wrong answers.

Sat, 06/27/2015 - 17:18 | 6242336 weburke
Sun, 06/28/2015 - 00:25 | 6243420 Botox4U2
Botox4U2's picture

HA HA HA.....not BITGOLD gold guaranteed by the British and Canadian governments.  Got BITGOLD?  You should and should also ignore the ignorant negative replies this post is bound to get but all I can say is tsk tsk for those who don't own some BITGOLD

Sat, 06/27/2015 - 13:40 | 6241751 lasvegaspersona
lasvegaspersona's picture

Scotty

at the end of that long string of euros is 10,800 tons of gold...I'd not call that worthless. Furthermore it is marked to market so as the value of the dollar falls the value (on the ECB balance sheet) of this gold rises....as gold is priced in dollars.

Not many seem to grasp the game afoot here. (confession I have been watching Sherlock, the one with Martin Freeman as Watson...so there is that)

Sat, 06/27/2015 - 14:07 | 6241816 KnuckleDragger-X
KnuckleDragger-X's picture

The problem is they can't peg against gold without making the Euro convertible and I just don't see that happening anytime soon.....

Sat, 06/27/2015 - 16:13 | 6242175 ThroxxOfVron
ThroxxOfVron's picture

"The problem is they can't peg against gold without making the Euro convertible and I just don't see that happening anytime soon..... "

 

Rentenmarks were not convertable.

"The newly created Rentenmark replaced the old Papiermark. Because of the economic crisis in Germany after World War I, there was no gold available to back the currency. Luther thus used Helfferich's idea of a currency backed by real goods. The new currency was backed by the land used for agriculture and business. This was mortgaged to the tune of 3.2 billion Goldmark, based on the 1913 wealth charge called Wehrbeitrag which had helped fund the German war effort in World War I. Notes worth 3.2 billion Rentenmarks were issued. The Rentenmark was introduced at a rate of one Rentenmark to equal one trillion old marks, with an exchange rate of one United States dollar to equal 4.2 Rentenmarks.[2]

The Act creating the Rentenmark backed the currency by means of twice yearly payments on property, due in April and October, payable for five years. Although the Rentenmark was not initially legal tender, it was accepted by the population and its value was relatively stable. The Act prohibited the recently privatised Reichsbank from continuing to discount bills and the inflation of the Papiermark immediately stopped. "

 

I'm neither sure of who paid the 'mortgages' on the land that 'backed' the Rentenmarks or what happened if the 'mortgages' on the land that 'backed' the Rentenmarks were not paid...

...I'll take another look at this and post futher if I have time to do so today and find anything specifically detailing the mechanics of the mechanism...

Sat, 06/27/2015 - 20:00 | 6242848 Amish FinEng
Amish FinEng's picture

Yea yea yea. Invite an Amish to your fucking little fight club right? You'll never because you're a bunch of weak physically and mentally fucking joos.

I bail hay all day long! Bail load and unload! each bail about 70 lbs. I'd throw you through you little BMW's front windshield you fucking little faggots!

Sat, 06/27/2015 - 22:52 | 6243260 ersatz007
ersatz007's picture

Impressive

Sat, 06/27/2015 - 22:52 | 6243261 ersatz007
ersatz007's picture

Impressive

Sat, 06/27/2015 - 23:06 | 6243285 RevIdahoSpud3
RevIdahoSpud3's picture

Where I live farmers use machinery to bail with. Bales are generally about 110 lbs. with ton bails from 1600 - 1900 lbs. Each cutting (used to be 3 per season now 5-6) generates (Idaho alone) several million bales. It's mowed, cut and bailed over the course of 7 days depending on the weather (rain?). Your description of your activites in processing hay into bales at 70 lbs each and doing it all day long everyday indicates that your (operation) is somewhat antiquated along with the possililty that some, much or most is poor quality at best. On the other hand this site may feed your innate desires to bullshit the Pope, who is in fact quite the bullshitter himself. I grow hay and never touch it. I don't have a BMW but several really nice F250's. Before you ever got close to my windshield you would be so full of holes you could add to your already pathetic resume that you function part time as a sieve.

Sat, 06/27/2015 - 23:07 | 6243287 ThroxxOfVron
ThroxxOfVron's picture

"I bail hay all day long! Bail load and unload! each bail about 70 lbs. I'd throw you through you little BMW's front windshield you fucking little faggots! "

 

Yeah, Am; bailing hay is some of the hardest fucking work I've ever done.

The dirt and dust and brittle straw clings to your sweat and you get filthy.  With the heat and the sun dehydrated as fuck, too.

Beamer isn't mine.  Let's stack the hay around it and hide it until nightfall. 

-We'll joy ride that bitch through Zook's corn fields when dark falls and dump it under the spout at the sawmill.

Sat, 06/27/2015 - 14:22 | 6241859 Right-on Left-off
Right-on Left-off's picture

The Dollah and the gold markets are indirectly connected.  The Euro vs duh dollah are directly connected in the markets.  One goes up ... the other MUST go down.  The same with the Yen.  Sooooo ... All currencies/fiats may rise dramatically as the Euro tanks dramatically which also means that the major currencies/fiats markets may all be closed next week.

I think that will be a major problem with any exchange of fiats to fiats.  Do you know of any country/nation that does not trade in fiat currency?????

Sat, 06/27/2015 - 15:19 | 6242043 disabledvet
disabledvet's picture

Again...your dollars are priced in LINEN not paper.

We do have paper in the USA too of course...and engravers.

Counterfeiting DOLLARS however is very hard since they must be WOVEN into existence not."printed."

Sat, 06/27/2015 - 18:06 | 6242498 espirit
espirit's picture

Better verify that with North Korea...

(and the Swiss Rawt-shilt)

Sun, 06/28/2015 - 02:56 | 6243541 disabledvet
disabledvet's picture

Wall Street itself could counterfeit the Bucky through the use of various "financial products" I guess.

Be shame to do so of course because of all the "love left on the table."

Sat, 06/27/2015 - 16:31 | 6242229 sun tzu
sun tzu's picture

That's about $415 billion worth of euros at today's prices. Meanwhile I bet there's at least 40 times as much euros and euro-denominated debt floating around.

Sat, 06/27/2015 - 20:08 | 6242867 Amish FinEng
Amish FinEng's picture

You're a fucking creep with your god damm speedo and fucking wristlets! Fuck you!

Sat, 06/27/2015 - 22:54 | 6243264 ersatz007
ersatz007's picture

You're even more of a creep for noticing said speedo

Sat, 06/27/2015 - 23:09 | 6243292 ThroxxOfVron
ThroxxOfVron's picture

"You're a fucking creep with your god damm speedo and fucking wristlets! Fuck you! "

 

Tickle him with your beard.  He hates that.

Sat, 06/27/2015 - 13:40 | 6241752 Captain Debtcrash
Captain Debtcrash's picture

Considering this feels so much like the Lehman weekend, it probably won’t amount to much, but it still feels like fireworks on Monday.

Sat, 06/27/2015 - 13:54 | 6241786 Kaiser Sousa
Kaiser Sousa's picture

"you too can trade like the pro's..."

 

disclaimer: suckers.....

Sat, 06/27/2015 - 16:39 | 6242250 Son of Loki
Son of Loki's picture

I knew the market was in severious [serious+ severe] trouble this week when my father's former broker called with some of his "can't lose" recommendations. It's classic; whatever he recommends is the stuff his company is usualy trying to dump.

Sun, 06/28/2015 - 02:59 | 6243545 disabledvet
disabledvet's picture

"Swing trading while levered long volatility" sounds even better then!

Sat, 06/27/2015 - 16:09 | 6242163 in4mayshun
in4mayshun's picture

I'm going to refrain from celebrating until we see that "oh sh#!" look on the faces of the puppets on CNBC next week.

Sat, 06/27/2015 - 16:54 | 6242284 Arnold
Arnold's picture

Greek vacation packages will be super cheap this season.

Sat, 06/27/2015 - 15:42 | 6242094 PontifexMaximus
PontifexMaximus's picture

Do not underestimate SuperMario, he will even create more EUR.

Sat, 06/27/2015 - 22:08 | 6243167 Anunnaki
Anunnaki's picture

That is exactly what will happen

Socialize the risk, privatize the profit

Sat, 06/27/2015 - 13:35 | 6241735 Buckaroo Banzai
Buckaroo Banzai's picture

Can someone please explain what the fuck this means, for those of us who don't know jack about FX markets.

Sat, 06/27/2015 - 13:37 | 6241744 Haus-Targaryen
Haus-Targaryen's picture

Essentially -- to keep people from losing their ass, a broker is forcing its clients to cover positions. 

I would expect this with retail FX trading.   

Sat, 06/27/2015 - 13:42 | 6241758 Atomizer
Atomizer's picture

They are voting on new FX currency rules. See below. 

Sat, 06/27/2015 - 13:53 | 6241780 Yen Cross
Yen Cross's picture

  It means that you can't open any new positions until  00:30 GMT +3 . You can however close any trades you currently have open.

 BTW that would mean 6:30 p.m. NY time.

Sat, 06/27/2015 - 14:00 | 6241802 Crtrvlt
Crtrvlt's picture

if you can only close, doesn't that mean someone is on the otherside opening?  excuse my ignorance

Sat, 06/27/2015 - 14:17 | 6241837 Yen Cross
Yen Cross's picture

 Technically yes, as every F/X trade is a simutaneous buy and sell transaction.(the broker is the counterparty) The broker sounds like they're trying to limit their exposure by limiting new money the ability to trade for that time period.

Sat, 06/27/2015 - 14:35 | 6241912 Crtrvlt
Crtrvlt's picture

how does the broker then limit the risk they are taking for opening positions on existing accounts that are closing?  

Sat, 06/27/2015 - 15:11 | 6242020 cbaba
cbaba's picture

their customers cannot open new position but can sell to other brokers customers.

Sat, 06/27/2015 - 15:13 | 6242028 Yen Cross
Yen Cross's picture

 They aren't opening new positions. They're covering(closing) existing positions. The broker is squaring up the trade by either buying back or selling an amount equal to the size of the trade.

Sat, 06/27/2015 - 23:19 | 6242207 ThroxxOfVron
ThroxxOfVron's picture

Yen Cross: thanks for the info.

 

Tyler: BROKERAGES implies more than ONE grift shop in the fucking Caymans, man.

Sat, 06/27/2015 - 14:33 | 6241905 greenskeeper carl
greenskeeper carl's picture

that is correct. It is a little old lady with a bowl cut....

Sat, 06/27/2015 - 23:20 | 6243309 ThroxxOfVron
ThroxxOfVron's picture

Looks like Moe Howard's mum.

( apologies to the chap who posts as Bank of Moe Howard )

Sat, 06/27/2015 - 16:32 | 6242230 Model T
Model T's picture

No. The person with the Long Position sells to close; the person with the Short Position buys to close; the trades cross. No one opens anything. You''ll have to excuse Yen-whatsit; he's just another internet expert.

Sat, 06/27/2015 - 13:53 | 6241781 jmcwala
jmcwala's picture

Got this online:

"close only" mode (you will not be able to open any new positions or place pending orders)

Sat, 06/27/2015 - 16:14 | 6242173 Allen_H
Allen_H's picture

The idiots I know,

I have met two people now who told me the stock market was great, they had high hopes of investing, and then they lost all their money in about 30 min, both of them. One even encouraged me to 'Play the game' Hahahaha. I wanted to tell him that the game was rigged and he should just FUCK OFF, but I witheld myself. The other was a architect who lost almost ALL of his inheritance in ONE EVENING, I mean this is how Wall Street survives, by dumb fucks playing the fixed game. 

Sat, 06/27/2015 - 13:41 | 6241755 JLee2027
Sat, 06/27/2015 - 14:01 | 6241805 Ajax_USB_Port_R...
Ajax_USB_Port_Repair_Service_'s picture

Hoiw much is gold worth vs the Bolivar? PLENTY!!!!

Sat, 06/27/2015 - 15:19 | 6242044 Kirk2NCC1701
Kirk2NCC1701's picture

In terms of the fiat Bolivar vs fiat Dollar. 

The Bolivar is not enforced for international trade, the dollar is.  IOW. .. the Bolivar must stand or fall on its own merit, the dollar does not.

Note to ZHers who keep using the Old Monetary Model (when money was backed by a Precious Asset like Gold), in the "New & Improved" version, aka MMT, the current winners and losers are determined by the Fiat Casino rules, by CB Bookie vs CB Bookie games. 

Venezuela and its ilk (Greece, PIIGS...) won't and can't heal and rebuild until they go to Monetary Rehabilitation: go cold turkey on their USD addiction. 

Sat, 06/27/2015 - 20:40 | 6242955 Amish FinEng
Amish FinEng's picture

oy vey Kirky boy!

Sat, 06/27/2015 - 23:14 | 6243300 ThroxxOfVron
ThroxxOfVron's picture

C'mon Jacob; finish yer piss.   Ya had enough of that shit.  Toss that bottle and button up.

We gotta ditch this Beamer inna quarry or something..

Sun, 06/28/2015 - 00:41 | 6243446 dreadnaught
dreadnaught's picture

..and so it begins...

Sat, 06/27/2015 - 16:33 | 6242235 Model T
Model T's picture

But the official .gov Venezuela inflation rate is only 3.2%; so everything is alright.  Sound familiar ?

Sat, 06/27/2015 - 15:04 | 6242001 Jack Burton
Jack Burton's picture

Markets are free and open, when things are going up.

When the bottom falls out, markets are shut till further notice, trading limits are on. Anything but a free market on the way down.

This proves that todays markets are not functional, or making real price discovery, a real market can handle ups and downs. This fake market can not.

So much for capitalism. The west ain't got it!

Sat, 06/27/2015 - 22:00 | 6243149 Anunnaki
Anunnaki's picture

Heads I win tails you lose

Sun, 06/28/2015 - 03:51 | 6243576 Allen_H
Allen_H's picture

Well said jack and Anunnaki, truth!

Sun, 06/28/2015 - 03:13 | 6243551 disabledvet
disabledvet's picture

Really?

Try and tell that to Arch or Peabody Coal.

Just a fee short years ago those enterprises were worth tens of BILLIONS.

Now not only can they not give their mines away but the Fed is intent on RAISING interest rates.

Meanwhile Germany, Japan and China...

Sat, 06/27/2015 - 16:40 | 6242252 rubiconsolutions
rubiconsolutions's picture

FX brokerages: 'The Hotel California' for money..... "you can check out anytime you like, but you can never leave"

Sat, 06/27/2015 - 18:28 | 6242568 bentaxle
bentaxle's picture

What, no spoofing?

Sun, 06/28/2015 - 12:29 | 6244708 jonjon831983
jonjon831983's picture

Turn those... machines... back... on?

Sat, 06/27/2015 - 13:23 | 6241699 NewThor
NewThor's picture

This time it's different. 

Sat, 06/27/2015 - 13:25 | 6241704 Ouagadoudou
Ouagadoudou's picture

Market breaks 48 hours in advance. Have a good Monday

 

Sat, 06/27/2015 - 14:34 | 6241907 chunga
chunga's picture

That filthy cock-socker Soros is out there somewhere.

Sat, 06/27/2015 - 15:06 | 6242006 Jack Burton
Jack Burton's picture

Soros, that greedy old fuck! He somehow believes he can be buried in a solid gold coffin, stuffed with hundred dollar bills. Fucker is a perfect example of his people.

Sat, 06/27/2015 - 21:05 | 6243006 logicalman
logicalman's picture

Even buried in a golden coffin lined with hundred dollar bills, the fucker will still be dead.

Good luck to the grave robbers!

Sat, 06/27/2015 - 15:54 | 6242116 PontifexMaximus
PontifexMaximus's picture

Nothing will happen, business as usual.

Sat, 06/27/2015 - 13:27 | 6241711 noronoro
noronoro's picture

Celebrating the month of Greece's independence day (from IMF), all market will be closed for the month of July. Thank you always-hot-tempered-Spartans. It does help yelling "Spartannnnnnnnns" all the while though.

Sat, 06/27/2015 - 13:28 | 6241715 tmosley
tmosley's picture

Could it be that PM investment is finally going to pay off?

Probably not.

Sat, 06/27/2015 - 13:32 | 6241727 Beam Me Up Scotty
Beam Me Up Scotty's picture

I'd be more inclined to think the price could go down 20% more before it will go up 20%.  They've got complete control of the paper price of metals, and as long as people buy and sell the physical based on the paper price things won't change.  Alchemy was changing lead into gold.  They have done much better than that, they have changed paper into gold.

Sat, 06/27/2015 - 14:28 | 6241883 greenskeeper carl
greenskeeper carl's picture

more than likely they will decline, at least priced in dollars. If the euro takes a big hit due to grexit or default fears, the dollar would likely be bid simultaneously due to safe haven status. Most big money seeking safety is going to flood into the dollar, which will make it spike while the euro is hit, which could easily knock another 10-15 % off gold and silver(in USD, at least). This will also lower UST yields. It can gie the fed needed cover to tick interest rates up a few bps as well. As crazy a it sounds, until the dollar loses its safe haven status, most big money will come to it rather than gold. Id keep some dry powder handy for if this greek nonsense finally blows up. I havent read a single "greece" artcile since I swore them off the other day, so I havent been following it.

Sat, 06/27/2015 - 14:52 | 6241964 billybobtx
billybobtx's picture

Oil will tank also b/c of the strong dollar. My USO puts are gonna light up like christmas trees...

Sun, 06/28/2015 - 03:18 | 6243555 disabledvet
disabledvet's picture

That sure sounds right to me. "Equities, the dollar and debt continue to hit all time record highs" so now is the time to restrict liquidity?

I would think folks who are looking would WANT short sellers fully engaged in this rally. "They're providing fuel for the raging bull...

Sat, 06/27/2015 - 15:43 | 6242096 PoliticalRefuge...
PoliticalRefugeefromCalif.'s picture

Seems like they will be forcing some weak Au hands into forced liquidation, no sense leaving anything including an easily manipulable commodity gain on the table for panicked sellers- they figure on pocketing it instead.

Sat, 06/27/2015 - 16:46 | 6242265 Son of Loki
Son of Loki's picture

China will be the nation/market that eventually names the price of PHYSICAL gold imo. Presently, they are the number one buyers of Perth Mint gold products and place more special orders then any other country by a long shot. Check out th elines of people in their gold stores--buying 500 gram 24k gold dragons, 100 gram gold bars, pandas, and such.

I've read somewhere German buyers are now #2 or close to it....

Sat, 06/27/2015 - 14:49 | 6241951 The Carbonator
The Carbonator's picture

+100 for the Alchemy analogy. I make that same statement to people all the time. When I think they usually get it they give me a long pause and say..."what is alchemy".

Society is going to go through a shit storm.

Sat, 06/27/2015 - 16:31 | 6242227 toothpicker
toothpicker's picture

Did u say alcohol?

Sat, 06/27/2015 - 16:58 | 6242297 Arnold
Arnold's picture

double post me again, tooth

Sat, 06/27/2015 - 13:33 | 6241729 Winston Churchill
Winston Churchill's picture

Looks like any Greek contagion will not escape earths atmosphere, so it is "contained".

Sat, 06/27/2015 - 13:57 | 6241797 Pure Evil
Pure Evil's picture

Yeah, sorta like Fukushima. Maybe they can build an ice damn around Greece to keep the toxic sludge contained.

Sat, 06/27/2015 - 14:02 | 6241808 JLee2027
JLee2027's picture

Good one.

Sat, 06/27/2015 - 13:34 | 6241731 ebworthen
ebworthen's picture

They said "...to decrease your risks..." and "...whilst making your trading decision..." so everything must be fine.

Not that you can make a lot of "decisions" with "close only" but..

Sat, 06/27/2015 - 13:37 | 6241741 philosophers bone
philosophers bone's picture
  • When the bank asks for the margin loan back, just say that you've gone into "close only" mode.
Sun, 06/28/2015 - 00:55 | 6243460 Sir Edge
Sir Edge's picture

Plus ONE Kabillion...  :o)

Sat, 06/27/2015 - 13:34 | 6241732 philosophers bone
philosophers bone's picture

ZHers just went from "crazy" to "genuis".

Sat, 06/27/2015 - 13:54 | 6241787 Carpenter1
Carpenter1's picture

Nope, cause half the ZH'ers are BTFD'ers who actually believed the CB's would prop up markets forever.

 

Today they found out different

Sat, 06/27/2015 - 14:20 | 6241846 CrimsonAvenger
CrimsonAvenger's picture

Most of us are crazy regardless; maybe we're just crazy but prescient?

Sat, 06/27/2015 - 13:40 | 6241753 ah-ooog-ah
ah-ooog-ah's picture

 

 

 

Please Select One of the available options:

1 display your balance

2 change your PIN

3 return your card

 

Thankyou

Sat, 06/27/2015 - 13:47 | 6241767 BurningFuld
BurningFuld's picture

I'm thinking number 1 should be:

1. Your Balance is not currently available.

Sat, 06/27/2015 - 13:55 | 6241792 Winston Churchill
Winston Churchill's picture

Press i, and all you will get is a Hillary cackle.

Sat, 06/27/2015 - 14:08 | 6241817 wee-weed up
wee-weed up's picture

OMG! A Cankle-Cackle...

Talk about blood-curdling sounds.

Sat, 06/27/2015 - 13:45 | 6241764 JimmyRainbow
JimmyRainbow's picture

now it is clear why everyone was nervously pushing the greeks around. there is nothing else to push around left.

Sat, 06/27/2015 - 13:48 | 6241768 Savyindallas
Savyindallas's picture

I think the greeks were just stalling until the new BRICS bank is open for business July 6th, I believe. Greece can be their first customer. Putin does it again  -check -maybe checkmate in this round. More rounds to come. Do we have any American chessmasters who can give Obama a hand? Let's bring in Bobby Fischer - no never mind. I forgot -he hates the joos. 

Sat, 06/27/2015 - 21:54 | 6243135 Anunnaki
Anunnaki's picture

To follow through on your chess metaphor : before Lemonhead can smirk checkmate Peace Prize is gonna turn over the board

Sat, 06/27/2015 - 13:49 | 6241770 Diablo
Diablo's picture

If youre trading retail FX, probably using 100x leverage, with some bucket shop that no ones ever heard of, you deserve the buttfuking youre gonna get next week.

 

Sun, 06/28/2015 - 03:22 | 6243559 disabledvet
disabledvet's picture

You mean Bank America?

Sat, 06/27/2015 - 13:49 | 6241775 Sonic the porcupine
Sonic the porcupine's picture

Who is buying then?

Sat, 06/27/2015 - 13:53 | 6241783 Jacksons Ghost
Jacksons Ghost's picture

Little hobbit lady is buying. That is her job.

Sat, 06/27/2015 - 21:52 | 6243132 Anunnaki
Anunnaki's picture

Are you referring to Grandma Yellen?

Sat, 06/27/2015 - 14:14 | 6241829 the grateful un...
the grateful unemployed's picture

you're not allowed to offer, you're only allowed to hit the bid

Sat, 06/27/2015 - 16:59 | 6242299 Sonic the porcupine
Sonic the porcupine's picture

Then who is bidding?

Sat, 06/27/2015 - 13:56 | 6241795 Yen Cross
Yen Cross's picture

  This broker sounds like a bucket shop. None of my brokers have made any changes.

 Here's a link to interbank rates while the markets are closed.

  http://www.ozforex.com.au/exchange-rate

Sat, 06/27/2015 - 14:34 | 6241901 buzzsaw99
buzzsaw99's picture

from finance.yahoo:

MAYZUS Investment Company Ltd. (ex. United World Capital Ltd.) is registered as a Cyprus Investment Firm (CIF) with the registration number HE230122 and licensed by the Cyprus Securities and Exchange Commission (CySEC) under license number 093/08 in accordance with Markets in Financial Instruments Directive (MiFID)...

they are a CIF in accordance with MiFID. BUG LULZ

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