Yentervention Part 2011: Dollar Yen Surges After Ministry Of Finance Sells Just Under Y500 Billion

Tyler Durden's picture

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Quinvarius's picture

It is funny to see a country that is about to become unlivable due to radioactvity trying to force down its' currency.  I don't think they really need to worry about their currency maintaining any value over the next 5 years. 

El Viejo's picture

Yeah, a yearly tradition. Every year about this time they reevaluate their currency. Also, in April they change jobs. Kinda like musical chairs.

StychoKiller's picture

"If ya can't find'em, grind'em!"  How much can the transmission take before toothless gears fall off their shafts and start shooting through the floorboards??

SloMoe's picture

Impressive spike. Doubt is will last the week, but impressive, nonetheless....

johngaltfla's picture

Here's your history of intervention. Needless to say I don't think we'll see 100 or 130 any time soon....

 

http://johngaltfla.com/wordpress/wp-content/gallery/special-econ-charts/...

 

Manthong's picture

Nice flaming Zero pic, but it looks like somebody put the superstructure on wrong side of the carrier.

Strangely appropriate in this context. :D

papaswamp's picture

Bets on how long it will last?

 

Yen Cross's picture

  This sure isn't any intervention! Unless the BoJ , MoF, and Kampo are on the slow boat to China.  Tyler have touble logging in... Somthing wrong with your refresh button? I have to re-login every time I post... Thanks Yen

Yen Cross's picture

  Reset your password and clear your browser... it worked for me.

Mr Lennon Hendrix's picture

It should take Ben 15 minutes to get to his press.

johngaltfla's picture

Uh, 0831 Friday August 5, 2011.

Rodent Freikorps's picture

Asian dude: What is best in life?

Cohen the Barbarian: To crush their currencies. To see them driven before you. To hear the lamentation of their traders.

 

FunkyMonkeyBoy's picture

Who gives a s**t about all these various flavors of "Jew confetti", they're all just different colored turds.

Stick to the gold and silver, the bullets of death to the ceturies old Jewish banking scams.

Mr Lennon Hendrix's picture

Yep, the Japanese are definately of Jewish origen.  I heard that before the Jew Lizards built the Egyptian pyramids, and then migraded to Israel, they actually landed in Nippon!  Of course, the Jew Lizards covered the globe, and built pyramids everywhere, but they announced their prowess in Israel, none the less.

Pure Evil's picture

 

And, it doesn't help that fiat was created by the Chinese and imported from China back during Marco Polo's era.

But, If I remember correctly, I was told that the Chinese were the 'Jews' of the Orient.

So, maybe, those are the Jews he speaks of.

Mr Lennon Hendrix's picture

Chinese Jew Lizards from Outer Space!

Pure Evil's picture

Chinese Jew Lizard Chicks Suck Scaly Goyim Lizard Dicks.

e_goldstein's picture

and I totally thought that my weed was really good.

 

Scisco's picture

So much hate. You are a sad, sad individual. I pity you.

Reese Bobby's picture

It is a lazy hate.  The hate that comes from a a young lifetime of failure.  Blaming Jews is the default setting for immoral losers.  But they are almost all harmless cowards whose Mommies ruined them at a very young age.  It is best to laugh at them like any other clowns.  And of course I must hope they find Christ, and real balls.

billwilson's picture

Like that was not predictable. What idiots were buying yen at 77? 

fuu's picture

Benjamin "Makin it Rain" Bernanke? It is toxic after all.

scratch_and_sniff's picture

They seen the swiss getting away with it...it looks kind of flacid compared to the last time.

Mr Lennon Hendrix's picture

When there is nothing left to lose....

RoRoTrader's picture

 

No other resort, it appears........can run but cannot hide sort of thing.

Closed out equity shorts this AM.

Sitting in CASH, again.

StychoKiller's picture

Grateful Dead, "The Wheel:"

The wheel is turning
and you can't slow down
You can't let go
and you can't hold on
You can't go back
and you can't stand still
If the thunder don't get you
then the lightning will!

Won't you try just a little bit harder?
Couldn't you try just a little bit more?
Won't you try just a little bit harder?
Couldn't you try just a little bit more?

Round round robin run around
Gotta get back where you belong
Little bit harder, just a little bit more
Little bit farther than you than you've gone before

The wheel is turning
and you can't slow down
You can't let go
and you can't hold on
You can't go back
and you can't stand still
If the thunder don't get you
then the lightning will

Small wheel turn by the fire and rod
Big wheel turn by the grace of God
Everytime that wheel turn round
bound to cover just a little more ground

The wheel is turning
and you can't slow down
You can't let go
and you can't hold on
You can't go back
and you can't stand still
If the thunder don't get you
then the lightning will

Won't you try just a little bit harder
Couldn't you try just a little bit more?
Won't you try just a little bit harder?
Couldn't you try just a little bit more?

redarrow's picture

With everyone trying to keep their currency weak, this is great for QE3 as well as QE4...QE-INFINITY.  

lsbumblebee's picture

USD hiccups and burps. Sits up and asks for some Jell-O.

Ahmeexnal's picture

jell-o?  vagisil would be a better prescription

Yen Cross's picture

  I just shorted eur/aud that thing is parabolic, and a top is forming on the H-1 chart...

DonnieD's picture

Kyle Bass sends his thanks.

gianakt's picture

It looked like they may have sold some of there gold when they first started to intervene. 

chump666's picture

FX markets are spooked by intervention talk.  FX wars dedux, but with more panic this time.  Oil and gold should go bid, gold sold on the AUD CB bank intervention at somepoint.  The TRUE FX is about to happen.

chump666's picture

again like the SNB, good luck Japan, lets see if China will play the buy YEN on the dips again

gianakt's picture

This is a gift from Japan as I just sold the spoo's at the highs. 

chump666's picture

gonna be classic, oil bid gold bid.   the killer trade will be the AUD, once the RBA cuts.  maybe sept.  options on from the 100ma and below

Yen Cross's picture

  that RBA hold @ 4.75 was a huge buy signal for me...  I love those swaps!!!  Hell that thing could run 10 Big Figures and I would still be long, and running a counter hedge..

Stuck on Zero's picture

Answer this ...  if the BoJ sold Y500 billion on the currency market they received something for it, right?  If they received mostly dollars then this takes the $$ out of U.S. circulation. These $$ probably come courtesy of the Bernanke zero interest rate Fedsters.  That means longer recover in the U.S. and dragging economy leading inevitably to a falling dollar.  Does this make sense?

Yen Cross's picture

  If you read the charts the biggest yen moves were against The  GBP, AUD, EUR, not the USD.   Keep doing research , I respect that in you...

B-rock's picture

As of now, USD : 2.38%

              GBP  : 2.1%

              EUR  : 1.99%

              AUD  : 1.98%

Yen Cross's picture

which 1/3 'rd of the trading cycle are you running those numbers from?  

GoinFawr's picture

Hehe, it's like this post was MADE for you YC! Shine on!

Yen Cross's picture

  You know I have deep respect for you G/F Thanks for your kind words.