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Dollar Tumbling To Record Low Against Swiss Franc, New Lows Against Yen
For an early look at the risk aversion gripping the market look no further than the USDCHF and the USDJPY, the first of which just took out 0.75, and the second now almost at BOJ intervention levels. Ironically, since the math Ph.D.s have still not recalibrated their models, it is very likely that the collapse in the dollar will lead to an explosion in ES courtesy of the inverse correlation, which will once and for all confirm that global capital markets and now nothing but a robotic circus.
USDJPY:

USDCHF:

Cross currency:

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It's all bullish.
And in other news, SP says that France is stable. Mwahahahaha
+ Un Beaucoup!
Let’s see who’s shouting SELL from the rooftops (besides ZH and the majority of the rest of the blogsphere):
Citi Battens Down The Hatches, Prepares For Global Risk Offness In A Few Short Hours
Goldman Cuts S&P 500 Price Target, Charts The Market's 10% Correction
PIMCO: "U.S. Downgrade Heralds A New Financial Era"
Gloating China Says "Has Every Right To Demand US Address Its Debt Problem", Asks For New Global Reserve Currency
S&P Downgrades US To AA+, Outlook Negative - Full Text
That’s the short list (I’m sure there are dozens more you could add).
And as for “emergency” headlines:
Dollar Tumbling To Record Low Against Swiss Franc, New Lows Against Yen
Joint Statement From Merkel And Sarkozy On Global Financial Crisis
G7 Preparing Statement To Support Dollar, EU, In Fact Everything That Would Otherwise Collapse Tomorrow, Before Asia Open
Former PBOC Member: "The Situation Is Unsustainable. The Longer It Continues, The More Violent And Destructive The Final Adjustment Will Be....
Emergency Meetings Galore: ECB To Hold Crisis Conference Sunday, G20 To Hold Call At 2230 GMT Tonight
Again, that’s the short list (I’m sure there are dozens more you could add).
REMEMBER FOLKS: what everybody knows isn’t worth knowing.
Good luck next week everyone.
http://www.zerohedge.com/news/first-response-downgraded-non-event-saudi-...
yes...recall that in 08, the most savage counter-trend rallies (and 07) were when things were abolutely the bleakest. When we were hours away from shit coming apart, BSC fail, LEH fail, etc. The only time when stuff went really down and stayed there was during the LEH days but it effectively bottomed a month or two later then we got the 100% nonstop rally.
24hgold.com shows SOMEBODY is now trading gold:
$1665 up $2.00 (numbers approx.)
I'm having an 'emergency meeting' as well, but it's of far more importance. Mine concerns the lack of refrigerated beer in the house and why it was ever allowed to reach such a critical level.
You can expect a statement shortly
There ya go...LOL!!!
Does this debt make my ass look fat? ;-)
Ahhhh, no Michelle, it's your big fat ass that does that /sarc
Haha. I'm sure there's a drinking game we could invent relating to currency destruction.
Maybe someone forgot to pay the electric bill? :)
I personally will be buying the dip in long-term bonds. Obama is a strong and courageous leader who knows how to inspire confindence. Congress has demonstrated great courage with their bipartisian compromise, which bodes well for the future.
^^^ I hope this is sarcasm ^^^
Holy shit! A certified kool-aid guzzler on ZH...LOL
What's next, (D) & (R) Free Shit Empire™ paid political advertisements?!?
Well, I guess we've already got some of that rhetoric happening in the contributors section (BK anyone? LOL)
Maybe political database integration is the reason for ZH crashing every 60 seconds?
:rollseyes:
I just threw up...
I totally agree with your comments about our great leaders in Washington. And everyday when I ride my unicorn to work at the North Pole with Santa and the Easter Bunny, I tell anyone who will listen!
I laughed so hard reading this that I scared my girlfriend. The best!
'Nuff said:
Sometimes when you have smoked that much meth you think crazy things , they must of been on it since Friday
Said the three week member ringer.
Chingada-koufala
This comment makes me truly miss the *JUNK* feature.
wall street patsy?
You Zero heads are so pathetic. The things you propose the country do is like finding out your wife is two months pregnant, but you haven't poked her in six months. You get so upset that you cut your own pecker off so that it can't happen again. All the while the rich guy who knocked her up is laughing his ass off over in the corner as he's plotting how he can knock up your daughter too.
You forgot to add the part where the whore used the money the rich guy PAID her at the spa and to binge on iShit...
$ to 0. ES to infinity. Equities explode on US debt downgrade!
Confirmation that both gold and silver will be up... wonder how long this panic will last before the big boys step in an manipulate away the pains...
Best thing to do for the Swiss and the Japanese central bankers to stabilize the FX, is to print print print and buy gold, silver, real estate, mines, forests, ports and other good assets up the kazu non-stop. Then print some more and buy each others currency. Meaning the Swiss to buy Yen and the Japanese to buy Swiss. That in the end will save both of you.
HURRY BEFORE OTHERS DO!
I'm long silver but I can tell you that your certainty that it will be up, after all is said and done, could well be misplaced. Wasn't silver taken to the woodshed on Thursday when gold was up - in sympathy with the base metals? Then on Friday silver was down - although base metals and gold were up. If copper has the crap beaten out of it tomorrow, it's more likely than not that silver will be beaten to a pulp as well.
The trend is FIRMLY in place for long silver, as a safe medium for storage of wealth.
Now if your definition of long silver is flipping it on a quarterly/annual basis for capital gains, you WILL be taken to the woodshed on a regular basis.
EOM
After all is said and done the dollar will reach zero, so where does that leave silver.
I am heavy gold, but I bought silver too. Silver is clearly the more easy to manipulate, but over the long haul, it is going where gold goes. Real value win out in the long run, when paper prices are only a distant memory
It will last right up until the NY open and then expect MASSIVE manipulation downwards. And that manipulation will last mabye 2 days tops before PM's gain it back.
I don't think so. They'll let it have it's run and once enough weak money is in at the top and silver particularly becomes vulnerable, it will be takedown time, possibly from a new high. I'd say now is a perfect time to own a bunch of out of the money calls. But I'd be sure to unload enough to book a little profit when silver is around $50.
Just what I think..
That is the exact position I have taken. I own some OOM calls on paper silver with a plan to exit as silver approaches its recent high. During the exit, of course, it'll be converted to physical (If I can find any available).
The difference is everyone is moving from a "PMs are a bubble" mentality to a "How do I time the price manipulations so I can buy" mentality. That changes everything.
print the pain away, putaz!
If the past is used as a probable indicator, government entities will be stomping on gold & silver with jackboots in a couple of hours. Question is....will they be over ridden by arkets forces?
Holy Shit!! Has the world come to its end yet? LOL
If the R"oman" deciders had not skipped the year "zero" on the sun calender, then it would have been 2012 that saw the Mayan end date. Instead, due to the mathmatical flaw, it will be 2011. Perfect for the year of Solomon's Joachim and Boaz.
Dollar Tumbling To Record Low Against Swiss Franc, New Lows Against Yen
Watch these out takes from 1981 movie Rollover. It'll give you nightmares... http://www.youtube.com/watch?v=GPYLJoq_40Y
I'll bet if somebody looked hard enough, the number 21214 would show up somewhere in the organization of Jim Cramer's Charitable (tax free) Trust, that invests primarily in gold, and dispenses profits to cronies ..... like every other tax free thing listed in the 60,666 pages in the US tax code.....
But then if we fix the flaw, wouldn't we be calling this year 2010? Either way, end of the Mayan calendar would be end of next year.
Youtube "In Search of" Mayan calendar. (late 70's)
Leonard Nimoy is clearly stating it is Oct 28th 2011
http://october28th2011.com/
Guy's, the simple truth is they ran out of room on the rock! So now there will be new theories about who stole the next rock.........AND, what did those Mayans invest in to hedge the "end"?
Don't bet that the algos have not been recalibrated.
Release the Algos!
That was ugly!
Who watches a robot circus? Other robots? Can sentient humans intervene anymore if we decided we wanted to? I can only think of one way-- Pull the plug on the whole thing. That, unfortunately, won't happen.
long emp devices
I think there is a big EMP device due to go off on the 26 of September
get ready to rumble
no they can't they sellers have sold and are long gone.. no selling left to be done. Only short sellers who's stop will be run over by the robots.
So much for last week's BoJ intervention. Care to play again, Japan?
The duration for which the JPY interventions are lasting is shortening... If they do in fact intervene again, I wouldn't be surprised to see the trend continue. The central bankers are in denial and really think they can fight the market indefinately. They should've studied math in school, they'd probably have learned that this exponential growth equation cannot work forever in a world of finite resources.
Domo arigato, Mr. Roboto
It's all contained, as it is a transitory phenomenom. In about 15 minutes green shoots will be popping up left and right, and all will be bright and shiny.
"Green shoots" is that like pushing up daisies?
I wouldn't be surprised if SP issued an upgrade tonight or before open depending upon how bad things look overnight. SP doesn't have any credibility anyhow
I'd say no, t.
I think they were looking at criminal prosecution in Europe. They have downgraded eurotrash paper that had better numbers than America's.
They somewhat had to do this to the US.
OTOH, an upgrade can certainly be purchased, for a rather hefty fee.
How about S&P upgrades the US tonight due to an "accounting error" or the FBI raids them and their executives for conspiracy on Monday morning?
Both!
"See this shovel, start digging"
"Why?"
"I'll tell you tommorow"
The UK still has AAA? WTF...they are more bankrupt than nearly anyone and have been doing more unsterilized injection aka QE than we have.
hmmm, "it is very likely that the collapse in the dollar will lead to an explosion in ES courtesy of the inverse correlation..."
pm's up - dollar down - ES up -
so miners... in a rational world should finally explode.
Awww I want to Vote people down and/or junk them...now I have neither.
flag as whining (1)
If this leaner version of ZH keeps us running tonight, I am happy to take it.
I am sure their servers are running extra-hot!
+1663 and rising
/smokin'/
MUST make room for old school returnees.
Mr. Hanky from South Park has sidled up to one of his fans a little too closely.
+1
Tuco
thats my thought when i saw the /dx down .47. /es should gap up. i guess we shall see
Cool.....That means NO QE3......
I guess you could reach mr. Hildebrand now in his office, if you tried...
Tomorrow is going to be a fore-shadow to what is coming on August 15th. Too much coincidence that August 15th 1971 was a Monday too? And a Nixon aide is on the record sayign that th edecision had been made long before, they just wanted a propitious window.
ORI
http://aadivaahan.wordpress.com/2011/08/04/many-drafts/
40 years we have wandered in the fiat desert...the yellow brick road is ahead.
Nixon also slapped a 10% tariff that August evening...that might take till Jan 30, 2013!
I've got August 15 on my calendar. I'm rootin' for Eastern mysticism. I want to believe.
Oh goody! I love times and dates and laws! I'm thinking that when Mbooboo of the 6 comets
rotates in the central void of Hollywood's red light district, and the house of Morrison
is in the Seventh Astral plane, that Gabriel will be seen blowing Micheals horn
in San Francisco! Uhmmm...
http://www.fxstreet.com/rates-charts/currency-rates/
Bombs away!
I'd love this so much more if it wasn't for that long ETF I have been holding since late May
I have such fond memories of the Bear Stearns Sunday night sitting in the club lounge at a hotel in FL watching CNBS and explaining to the hostess that she was witnessing history
I had sold my LEH puts that Friday expecting a better set of terms. Left $125k on the table on that one by not waiting till Monday lol
Petrodollars!
Yipeeeeeeeeee!
Grab on to your panties tight gents!
This is the item that is largely almost forcefully forgotten.
Brent is $109. WTI is the ONLY oil grade in the world under $100, and it's among the least used.
WTI being quoted as "oil" is the true joke of 2011. The Brent Spread is now 23 and it was < $5 on 1 January. This is all a very quiet evisceration of civilization.
it will be a non event..
Yep limit down in dow futures and 10% spike in gold and silver!
Maybe that first chart should say RIP and NOT GIP. So happy to see we are back to the old format. Hated that reply option and that up and down voting system. THANKS Tyler.
I'm not sure that the ES will be up. There is a good chance the inverse correlation will not hold. Foreign interests may decide to sell dollar denomiated assets to preclude further currency losses. What is that phrase "selling begets selling"? Then there is the margin issue... It will definately be something to watch
sell for what....
ugliest girl at the dance time ...
What happened to the comment box.
Are we now allowed to comment outside the box, as oppossed to thinking outside the box?
Witness the box transcended.
recalibrated?
I'VE GOT RECALIBRATION COMMING OUT OF MY EARS!
WHERE'S THE GOLD AND SILVER I SAY!!??!!
Two hours to go, SD. Do you have a good supply of Depends on hand?
What's depends?
If you mean PM's, I've got enough to buy the city where I live in AND KICK EVERYBODY OUT WHEN THE SHITSTORMS HAPPENS!
Not everybody... Only the guys and all the ugly chicks :)
I will visit Suddengent or Suddenwerp or Suddenbruges or Suddenxelles or Suddenknokke or whatever city you buy as tourist No. 1!
you were very very close in your comedic city naming. It is:
Sudden Twerp.
/thanks for the lmao!/
thanks for the directions. I have as much PMs as I can possibly have, it is not enough for a city, but it should be enough for a trip to Sudden Twerp after the worst phase of the 'shitstorm'. are you from the french frie inventing country, too?
@ Sudden Debt, "Depends" is a brand for adult diapers here in the US.
Something we may all very well need in the next 24 hours...
In Europe it's not really a problem. The reason why Americans have so many problems with leakage is because of the bad hamburger meat. :)
I'm really enjoying this crash! I'm prepared like a boyscout :)
OHH!
Almost had a "Depends" moment there... LOL...
Hear ya, re prepared like a Scout!
Suggestiion!
At T minus 2 minutes and counting, NOW would be a good time to take that bathroom break...
Talk about fight club bitches! This Currency War is just in the begging rounds. Who's going to tap out? Bet on metals.
"currency war in the >begging< rounds."
aptly stated
glad I bought a shitload @ $1.16
Yay, it's alive! A bit of a code efficiency problem there? It's all maths you see. So many programmers have no idea the maths they are implementing. You just need to throw an infinite amount of hardware at the problem. Like Google.
Anyway... Did anyone else notice the 35 billion volume on the S&P 500 on the 22nd?
http://chart.finance.yahoo.com/z?s=^GSPC&t=3m&q=l&l=off&z=m&a=v&p=s&lang=en-US®ion=US
Just noticed this on one of the big UK mail order bullion sites:
No more orders for gold/silver being taken due to 'unprecedented demand'.
http://www.bullionbypost.co.uk/
Site is down now.
could it finally be time for
www.youtube.com/watch?v=ZM0e1m9T9HQ
21.31 bst back up gain
Take a look at the prices this Canadian dealer is posting for gold and silver...
They were just over CAD$3K/oz but have adjusted again.
What the fuck is going on?
http://silvergoldbull.com/s/
Not so fast on the assumption that equities will rise. It could be that just all real money and near money rises (e.g., SF and PMs).
agree dollar will get trashed along with the stock market (foreign investors will dump) PM's will gap open higher! New highs for gold and silver on the open!
Green shoot???
Like punji stick
Up in Canada for a few weeks. $5.20/gallon gas here- coming below the 49th parallel before we know it... Points toward further nongood news...
Equities rise/fall, so what. Up one day, down the next. It's all an illusion. And you guys talk about "joe 6pack"??
Pot, meet kettle.
Chill, folks. We're having a financial crisis brought on by greed and the illusion that owning something or another results in "security." It doesn't. It's time to learn and grow as a species.
profound.........
"No Toyota for you"
"No Honda either"
Get to the back of the line!
In some ways - a collapse of "globalization" would be a very good thing...I think we would miss some "stuff" but I think it would be good for us all to learn that we can do without.
We shall see how this plays out.
Now, we will have the "global elite" trying to preserve the status quo.
No. the demon elite caused this so we would run to their arms for help! Problem, Reaction, Solution.
Solution, one world currency and worldwide police state.
Tuco
"a collapse of "globalization" would be a very good thing"
Here Here!
It's a small world after all.
Globalization=Global Plantationization
Looks like the Mon-Fri econo/analyst/journalist crowd will be glued to the news next 24hrs, rather than Sunday funday off.
P.S. the comment layout changed back, I like it better this way.
It's only "transitory".
Tuco
I expect ZH servers will be down within the next two hours.
Let's face it, when the shit hits the fan, people know where to come to find out why and what's next.
This is gonna be one nutty fuckin night.
I'm very excited:-)
agreed... got the paper towels and depends ready... Tonight will make history!!! It will be apparant to Joe Six Pack that the dollar will be dead!
I agree that the USD is toast...however, I think it's gonna pull a Sampson option and take everyone else down first. It will be the last fiat standing...and then things get truly weird.
"When the going gets weird, the weird turn pro"
Hunter S. Thompson
killer quote
"'This is gonna be one nutty fuckin night.""
MAKE THAT: ONE NUTTY FUCKIN WEEK
Tyler, I LOVE THIS RETRO STYLE LOOK!
Can't you keep it this way? No need for the boxed comments, it's just to square.
And a good old fashioned +1.
I agree w/Domo. Makes ZH special and whatnot.
ZH rigged for battle
website frills jettisoned
site traffic ready to smash records
That would be my guess too. Strip the features so they can run more traffic.
Going to be hot and heavy in 45 minutes.
I hope Sacrilege is there at the controls, loading more gerbils into ever more servers...
rigged for battle <- LOL
"Clear for action!" as Hornblower would say.
ZH is prepping for a good fight: Shirts off, bare knuckles. Stripped down and ready to rock!
Who needs thumbs up/down on a night like this?
Even tapping out has been deleted from the rules. The last man standing wins.
those thumbs up and down don't serve any purpose.
If you could win a bottle of scotch for every 1000 junks, it would have a purpose....
I've also just read that ZeroHedge is being DOS attacked on the comments. I don't know if it's true but it stood on a hacker website.
I think some of us have realized there was a DoS attack going on for quite some time now...
ZH has become a top tier website, and I betcha TPTB & TBTF would love nothin' better than to see it disappear!
Carry on ZHers, the dominoes are falling again and we're about to see some genuine wailing and gnashing of teeth ;-)
Red and green arrow script was always hinky in Firefox (5.0) anyway.
I agree time to lose the avatar - let Business Insider substitute frills for substance
now if only we could have a thumbs up thumbs down vote on the vote widget
I like this old style better too, conversations seem to flow better
Where do these quotes come from? New Zealand isn't open yet. And Factset doesn't have any updated quotes on USD yet =/
Forex is open. PMs are not -- not until 6pm EST.
http://netdania.com/Products/live-streaming-currency-rates-foreign-excha...
Final score: plutocrats $10 Trillion citizens -$10 Trillion
Plutocrats win! These guys and girls are the winners! They have style, they have the moves! I want a plutocrat T-shirt: Go, Plutocrats, Go!
Plutocrats, bitchez!
Announcing the first American mail order bride service, Smiddysamericanhotties.com. Be the first oil sheik to order up a little blonde surfer girl from the comfort of your den. These women are hot, and they need an international man of means who can provide for them. Just listen to some of our testimonials:
Sheila: "Sure, some of these guys are old and fat or just don't bath, but I need a man with a job, not a kid with an empty wallet that lives in his mother's basement."
Paris: "Got PMs or get gone"
LaToya: "Gir's gotta eat, show me the money bitchez."
Show me the gold, bitchez, you mean
+ $1660
Smiddy, the sheiks have been ordering little American girls (and boys) for decades at this point , so your business model may need a few tweaks to get off the ground.
Payment up front would be advisable too, they tend to like to have their fun and then kick them out of the party without pay. Their attitude is "Who they gonna call, the police?"
Tyler,
Tottenham riots now north london riots - moved to enfield.
http://www.guardian.co.uk/uk/blog/2011/aug/07/tottenham-riots-police-dug...
Replacement power of stocks can only be higher in a "dollar collapse" scenario...however, all I have held for ages is physical gold, silver and a few Yukon exploration gold shares....Atlas will shrug again and the E/S will soar!
ITS ON!
last fiat standing wins
http://www.youtube.com/watch?v=Y-rFT-uHm4w
Euro is open, it gapped up a little bit.
But it could easily drift down throughout the evening.
All in all the Plutocrat response may just drift the markets sideways for a few days before the real hit takes place.
It really all depends on how BAC acts on Monday, imho....
Thanks for letting us know what the Euro could do. Very helpful tip. Don't know what I could do w/out U.