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European Stocks, Bonds Surge On Blatant SNB Intervention
At around 645ET, EURCHF suddenly took off out of nowhere. This instantly lifted European stocks off new post-Greferendum lows, slammeds EU credit risk lower, lifted US equity markets, and drove Treasury yields higher. The SNB has declined to comment on whether it intervenened but we ask in all frankness, have we become so divorced from 'free markets' that China can blatantly enter markets to save them (and fail) and European markets can mysteriously go bid and no one bats an eyelid that this is all rigged.
Charts: Bloomberg
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Given recent years I don't see anything unusual.
Blatant <-- when it absolutely positively has to work.
dont worry, it comes with a cost. and thats a cost i wouldnt want to pay if i was a central printer.
Truth be told, almost everyone wants it to be rigged. It wouldn't work in their favor otherwise.
Could you imagine the disaster the markets would be in right now if they weren't rigged?
The major shareholders that have systematically stolen from everyday americans would be just as broke as those same everyday Joes. So, at least we'd have that going for us, which would be nice.
And ... it's working so well for China!
Have come to believe it's always been rigged...
60 pips.... yawn....
Rigged is such a strong term...we prefer GRAFT enhanced...Long live the status quo! /sarc off
luckily neither TARP nor TALP were seen as "market rigging". let's see how much cash China injects in order to calm their stock markets
"rescued" is the accepted term...unless you are in the PRC
Right, rescued, not rigged, just a little "liquidity support."
Some of us thought Tarp and Talp were rigged and were pretty pissed about it.
But that was way back in that long-ago day when 700 billion dollars sounded like a lot of money.
China just banned major stock holders from selling for 6 months....
http://bloom.bg/1UA2ykO
Wow.
Europeans and Americans can only dream of such transparency!
Remember banned short selling on 911.....I do.
China is now following Chairman Bernanke's Little Red book instead of Mao's.
+1 You jarred my memory about this in 2008.
As part of its response to the crisis in the North American markets in 2008, the SEC issued a temporary order restricting short-selling in the shares of 19 financial firms deemed systemically important, by reinforcing the penalties for failing to deliver the shares in time.[8] Effective September 18, 2008, amid claims that aggressive short selling had played a role in the failure of financial giant Lehman Brothers, the SEC extended and expanded the rules to remove exceptions and to cover all companies, including market makers.
The Arabs did their short selling just prior to 911....easy money.
What's the punishment for betrayal of the motherland, prison time or execution?
O'bama. Are you listening
That some suspension of mark to market there. Dare I say blatent?
The invisible hands have become the obvious tentacles.
If you or I were to manipulate the market we'd go to jail.
+ 100
United in a nation wide ground stop due to computer glitch.... Skynet test.
The markets, politics, TPTB, TBTF, economics are all a fucking joke
@TBTFB dont'forget to hammer the barbaric relics today
Fuck you very much !
The whole point of Fractional Reserves is rigging.
-Rigging to earn interest on loans of money that doesn't actually exist, while those who own the actual money are robbed.
-Rigging on sales or 'leases' of commodities that don't actually exist, while those who actually own those commodities are robbed.
-Rigging the sale of securities through the sale of securities that don't actually exist, robbing those who own the actual securities.
It is an Empire built on theft.
"News" media must cover the important stuff first -
like the confederate flag issue and the latest outfit Kim K had on -
there are not enough air time hours available to waste them on second rate stories about stuff no one cares about anyway.
You'll get your ass handed to you if you buy and your head handed to you if you sell.
China Bans Stock Sales by Major Shareholders for Six Months
By Richard Frost 12 minutes ago
China’s securities regulator banned major shareholders, corporate executives and directors from selling stakes in listed companies for six months, the latest effort to stop a $3.5 trillion rout in the nation’s equity market.
Related StoriesInvestors with stakes exceeding 5 percent must maintain their positions, the China Securities Regulatory Commission said in a statement. The rule is intended to guard capital-market stability amid an “unreasonable plunge” in share prices, the CSRC said.
More from Bloomberg.com:
A ban on selling is old news.
Wait til forced buying is ordered, bitches.
Where you been? CB's are already buying bonds, stocks and ETFs, and they're placing their bets with your chips.
No one cares about the rigged markets because no real humans are involved in them.
Why don't they just inform everyone that everything will go up 10% per month forever, and we'll print as much fucking money as we need to get it to that point. No risk of losing.