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Mission Accomplished SNB: Euro Storms Back To Unchanged
Because nothing of import happened this weekend. And if it did, the central banks "got it covered."
Charts: Bloomberg
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Free markets, bitches
Bidding support under the euro at this moment is a clear message that northern EU members want Greece out of the EU.
Keep eyes wide open for a major leg down in equity markets going into U.S. cash close, and another bloody night in Shanghai, where the bleeding's only just begun.
Wait - stocks are headed back down. What's going on PPT?
Lunch break.
BRB...
TPTB have rejected reality and substituted their own. Never underestimate the power of delusion.
The EU is a drunk leaning against a lamp post. As long as they don't move they can pretend they can stand up by themselves......
What the ECB, IMF, BIS et al are really showing everybody by their actions is that their threat of a so called 'catastrophe', should Grexit happen, is nothing but hot air. A great many things remain to be seen but it is somewhat humorous that they are actually making themselves out to be liars.
It's kind of like one of my favorite oxymoron's, "surgical nuclear strike"
Because a day without Central Bank manipulation is like a day without sunshine -- Anita Bryant
I new this would be back to normal. Too predictable. Now time to puch the DOW back to all time highs!!
Something in the offing. Stay tuned.
A Swiss default it is then...
It will be deeply humiliating for the staff of the SNB.
On the other hand, their liabilities are almost exclusively in the hands of citizens who want to hold those liabilities so badly that they had to make new rules forcing them to leave them in the banks (adding another layer of risk for the citizens).
So the bankers do kind of "win everything" even while losing if you get my drift. Nice work if you can get it.
No shit, too much air play for this to be put back in the bottle.
China run awaits, in Greece the music starts to fade and in PR the leadership refuses to kick the can.
How many times do they say you come up for air before you drown?
Is that what we're left with now? Smaller currencies falling on their swords to save larger currencies? Japan does QE to essentially protect the USD, now Switzerland monetizes to protect the Euro...
Monetizing what exactly?
Certainly not European debt...
Greek debt maybe...
FED now buying at 15%? So the US taxpayer will shoulder the greek debt burden instead of the EU taxpayer
The Swiss doing anything to save someone other than themselves is a laughable suggestion.
Why on earth would Japan protect the dollar? The Japanese export model demands a (relatively) weaker yen. When the Fed and ECB do QE, the Japanese have to do the same to prevent their currency from appreciating vs the other currencies.
Which goes to show that vs. the franc they achieved nothing but loose more money. It was all to back up the EUR vs the USD. What a joke this all has become. The Swiss National bank should mind its own business and accept that the franc will remain overvalued because of its status, a status it is doing a great job at undermining right now!
Looks like a typical gap fill. Our banker overlords have everything under control. There is nothing to see here. Move along...... move along.
The SNB isn't private Bank..
It's a bank is it not?
Take a look at others EUR-crossing pairs. EUR is skyrocketing everywhere!
The Central Banks should just publish a sheet of price fixes for the day and scuttle the so called "financial markets".
FREE FIAT FOR ALL!!!
COME AND GET IT!!!!
greece wont leave euro. countries and cities go bankrupt all the time but dont change currency. 50% haricut and then tyring to pay the rest back in drachma would be even worse.
they just need to prop the banks up with some equity and the SNB has to do whatever it did today for propbay 20 days striaght
Wow!Swiss to the rescue of Euro. Who would have thunk it...?!