• Sprott Money
    05/05/2016 - 06:02
    Why is a Deutsche Bank mouthpiece suggesting “negative retail deposit rates or perhaps wealth taxes”? The answer is to (supposedly) stimulate our economies.

Guest Post: "With Immediate Effect"

Tyler Durden's picture




 
0
Your rating: None
 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Tue, 09/06/2011 - 08:34 | 1637788 maxmad
maxmad's picture

You can't eat the ETF GLD!

Tue, 09/06/2011 - 09:01 | 1637895 Pladizow
Pladizow's picture

Jim Rickards book - "Currency Wars" will be a timely read.

12/21/12 here we come. Not the end of the world, but simply the end of the economic/financial world as it has been known.

Tue, 09/06/2011 - 09:17 | 1637964 tradewithdave
tradewithdave's picture

I disagree. With HKMex and PAGE coming online, this SNB move marks the end of the currency war, not the beginning.

All that remains is the petro dollar protected by U S military might and the nationalization or plundering of gold and silver mines.

Now we're harmonized so no one can arbitrage the global mergers; one for the East, one for the West all pivoting on a gold see-saw until you wake up one morning to the reset switch flipped over a holiday weekend.

Dave Harrison
www.tradewithdave.com

Tue, 09/06/2011 - 09:40 | 1638053 Pladizow
Pladizow's picture

REALLY!!!!! - "...the end of the currency wars...."

Your comment could easily be the most stupid comment I read today.

Wed, 09/07/2011 - 02:00 | 1641084 bid the soldier...
bid the soldiers shoot's picture

And you don't think we're there now, because?

Tue, 09/06/2011 - 09:24 | 1638000 Thomas
Thomas's picture

You can eat Nestles. 

Tue, 09/06/2011 - 10:35 | 1638230 Waffen
Waffen's picture

Go long Zits.

Tue, 09/06/2011 - 09:58 | 1638120 Snidley Whipsnae
Snidley Whipsnae's picture

"You can't eat the ETF GLD!"

I was curious about this oft heard remark so I tried eating some... It gave me indigestion followed by nausea, constipation, flatulence, extreme erections, migraine headaches and the runs... but it doesn't taste bad with A1 Sauce...

Tue, 09/06/2011 - 10:03 | 1638136 MayIMommaDogFac...
MayIMommaDogFace2theBananaPatch's picture

This sounds like something BigPharma would definitely be interested in developing!

Tue, 09/06/2011 - 12:29 | 1638584 Snidley Whipsnae
Snidley Whipsnae's picture

LOL... Matter of fact, I was repeating a warning accompanying a bigpharma add heard on tv...

Why would anyone, after hearing the warning, take that stuff??? Death wish?

Tue, 09/06/2011 - 08:35 | 1637796 maxmad
maxmad's picture

Make no mistake, we can all wake up tomorrow to a new reality.

 

Wow where's the mushroom cloud?

Tue, 09/06/2011 - 08:37 | 1637800 cossack55
cossack55's picture

Awaiting new nuclear CDO/CDS issuance.

Tue, 09/06/2011 - 08:45 | 1637837 spiral_eyes
spiral_eyes's picture

Currency wars are hilarious. People need to look at the real underlying figures that governments can't massage with QE.

Priced in gold, bitchez.

http://azizonomics.com/2011/09/06/america-priced-in-gold/

 

Tue, 09/06/2011 - 08:37 | 1637801 Gmpx
Gmpx's picture

CERN created a black hole finally?

Tue, 09/06/2011 - 08:38 | 1637802 DogSlime
DogSlime's picture

Probably about 12 months into the future from here.

Bullish for sunblock?

Tue, 09/06/2011 - 08:41 | 1637820 doomandbloom
doomandbloom's picture

"Wow where's the mushroom cloud?"

here. look at my face

Tue, 09/06/2011 - 08:49 | 1637852 youngman
youngman's picture

"Make no mistake, we can all wake up tomorrow to a new reality"

I agree...it will be an overnight policy change...done on a weekend...that changes everything...think Belarus....

Tue, 09/06/2011 - 09:10 | 1637928 j0nx
j0nx's picture

Which is why nobody should be investing in this market or have anything to do with it. It is and has been a rigged game for 3+ years now.

Tue, 09/06/2011 - 08:39 | 1637804 falak pema
falak pema's picture

The great psy war "save the Euro from becoming the Titanic" begins!

This will send a CLEAR signal to the German supreme court : Fellas we ARE ALL iN THE SAME BOAT...ALL EU ZONE. SO pull your finger out, feelen dank and tout de suite!

Banking cabal, in Europe, to save the five legged cloned sheep called Dolly EURO! 

Wow, let the games of currency war begin. Herr Merkel, Zurich calling you loud n clear!

Tue, 09/06/2011 - 08:39 | 1637811 cossack55
cossack55's picture

You may mean Frau Merkel, but maybe not.

Tue, 09/06/2011 - 08:38 | 1637808 Ratscam
Ratscam's picture

still no indication on the amount of EUROS the SNB bought?
propaganda works!

Tue, 09/06/2011 - 08:40 | 1637816 Gringo Viejo
Gringo Viejo's picture

Gimme Shelter...........................

Tue, 09/06/2011 - 08:40 | 1637818 max2205
max2205's picture

A lot of Forex blow ups....and liquidation to follow shortly in other assets...rinse repeat

Tue, 09/06/2011 - 08:42 | 1637822 Josephine29
Josephine29's picture

Another problem with this move by the Swiss is explained below

One of the causes of this situation has been the carry trade which mostly took place in the middle of the last decade where both Swiss Francs and Japanese Yen were borrowed heavily in many countries. This depressed the currency then and its partial unwind is raising it now. So how is creating the conditions for it again going to help? You see one cause was low interest rates which, ahem, are now negative and the exchange rate has just been effectively pegged against the Euro reducing currency risk too!

So carry traders have an implicitly pegged exchange rate versus the Euro and negative interest rates in what one might consider to be a type of carry trade heaven!

http://www.mindfulmoney.co.uk/wp/shaun-richards/the-ecb-and-the-italian-government-are-playing-high-stakes-poker-so-why-has-switzerland-just-joined-the-poker-players/

Yes they have just created conditions for the carry trade to thrive again! And this is one of the things which created this problem...

Tue, 09/06/2011 - 08:42 | 1637827 Catullus
Catullus's picture

I will create "stability" by causing the FX market to move 10% instanteously.

These motherfuckers just sank Europe's life-raft.

Tue, 09/06/2011 - 08:43 | 1637828 newstreet
newstreet's picture

Carthago delenda est.

Tue, 09/06/2011 - 15:18 | 1639187 bid the soldier...
bid the soldiers shoot's picture

SPQR = TPTB

CARTHAGE = GOLD AS CURRENCY

BATTLE AT ZAMA = GOLD FAILING @ $2000

HANNIBAL = T. DURDEN

SCIPIO = B. BERNANKE

Tue, 09/06/2011 - 08:43 | 1637829 PontifexMaximus
PontifexMaximus's picture

lets wait til currency res. of the SNB are mounting north of CHF 350 Mrd. Probably at this very moment Mr. P. Hildebrand will have a problem although he has the political backing for the moment. Looks like GS made the call to clients about going long USD and EUR dumping CHF....before the action obviously 

Tue, 09/06/2011 - 08:58 | 1637890 topcallingtroll
topcallingtroll's picture

Since Goldman Sachs has spies in every central bank and every government treasury office it is easy for them.

I suppose this is the ultimate form of regulatory capture.

Will trading on inside info ever be prosecuted again?

Oh I forgot. Prosecutions are for little people and mid level independent hedge funds.

Tue, 09/06/2011 - 08:43 | 1637830 chinaguy
chinaguy's picture

Currency intervention, I'm shocked

Tue, 09/06/2011 - 08:45 | 1637836 SheepDog-One
SheepDog-One's picture

Yea lets 'invest' in ham fisted total central govt control everywhere....this should end well.

Tue, 09/06/2011 - 08:45 | 1637838 Central Wanker
Central Wanker's picture

Yesterday, you could go to CHF or Gold for a safe haven. Today, you just have... Gold!

Tue, 09/06/2011 - 08:46 | 1637841 Oh regional Indian
Oh regional Indian's picture

When the trade looks so good, it's probably really bad for you. No such thing as a free lunch in money/forex markets. If the swiss can peg (a 7 sigma event as someone said) then China can surely de-peg?

No safe havens, no free lunches. This is a preservation of capital time. Leave the mad swing trading tot he madmen with inside knowledge.

V

http://aadivaahan.wordpress.com/2011/09/05/water-branding-and-thoughts/

Tue, 09/06/2011 - 08:50 | 1637857 SheepDog-One
SheepDog-One's picture

Gamble the 'sure trade' against the Maniacal Monetizers and insane desperate central planners....no thanks not me I'm out.

Tue, 09/06/2011 - 09:12 | 1637942 ManufacturedOpinion
ManufacturedOpinion's picture

That is a lame article by Oh Regional Indian.

I suggest y'all just skip over the spam.

Tue, 09/06/2011 - 09:41 | 1638058 Oh regional Indian
Oh regional Indian's picture

Newbie, are you going to be my troll bitch? 

V

Tue, 09/06/2011 - 08:48 | 1637842 Ancona
Ancona's picture

WOW!

I'm 'gonna make some popcorn and sit back to watch the show today. This should be good!

Tue, 09/06/2011 - 09:03 | 1637910 Snidley Whipsnae
Snidley Whipsnae's picture

dow futures down 252... sp futures down 30...

Yes, should be an entertaining day... for those clever rascals sitting on the sidelines with physical gold...

Tue, 09/06/2011 - 08:48 | 1637843 gwar5
gwar5's picture

Good morning, Sovereign Simon.  

 

All of the rapidly changing events and bizarre goings-on are banker primal screams of DESPERATION. Lack of signals to the market before radical shifts in policy indicates to me that they are so desperate they no longer even care if everybody knows they are just making it up as they go along. This is all so FU.

 

 

 

 

Tue, 09/06/2011 - 08:53 | 1637864 SheepDog-One
SheepDog-One's picture

Everyone is now totaly desperate, and CNBC and Bloomberg arent even reporting on any Eurozone market collapse or currency mayhem or the fact we're opening near -300 down. Anything to keep 401K robots calm. 

Tue, 09/06/2011 - 08:56 | 1637881 Withdrawn Sanction
Withdrawn Sanction's picture

"Lack of signals to the market before radical shifts in policy indicates to me that they are so desperate they no longer even care if everybody knows they are just making it up as they go along."

Spot on. "desperation" and "Swiss" are 2 words not usually associated w/ea other. Double whammy.

Tue, 09/06/2011 - 08:49 | 1637846 Quintus
Quintus's picture

Hildebrand has essentially just bet the entire Swiss economy on a strategy of doing an 'Unlimited amount' of the very thing he has tried many times before yielding nothing but failure and massive book losses.

Central Bankers are a conservative lot.  Swiss Central Bankers even moreso.  This decision can ONLY have been taken in the light of there being absolutely no alternative.

This is 'Last roll of the dice, all or nothing' stuff, and CBs just don't do that.  Unless the 5% chance that this will not result in the total hyperinflationary collapse of the Swiss economy looked like good odds when compared with the alternatives.

The SNB just sounded the 'Abandon Ship' alarm folks.  Whatever is going on behind the scenes in the Eurozone is about to blow up.

Tue, 09/06/2011 - 08:50 | 1637851 Pretorian
Pretorian's picture

Look EUR?USD some 1 woke up Bernanke to reverse margin call since cant do shit on eur/chf/. 300 pips up 300 pips down.  CRY GOLDY BITCH CRY

 

 

 

Tue, 09/06/2011 - 08:49 | 1637855 lolmao500
lolmao500's picture

With immediate effect, they raise the margin on silver and gold yet again in Shangai.

Tue, 09/06/2011 - 08:49 | 1637856 oogs66
oogs66's picture

if qe2 worked because it devalued the dollar, actions like this won't help

 

Tue, 09/06/2011 - 09:41 | 1637858 NuYawkFrankie
NuYawkFrankie's picture

As the ground trembles, as we stare into the abyss the rush is on to that Uber Safe Haven, that paragon of virtue, that anchor in a sea of instability, that timeless asset recognised as such since antiquity... well, since 1945 at least (no, not gold Virginia... but nice try my dear, now run along) - the US Dollar!  Take a bow UNCLE BUCK!

All those Swissie promoters/hustlers/idolators (good morning Marc, Gerald, Robert, Bob Steve...)  just got a royal kick in the bollocks - OUCH!

Oh my! No one can say that the gods don't have a  sense of humor! Too funny for words! LOL!!!

 

Tue, 09/06/2011 - 09:53 | 1638098 GoldBricker
GoldBricker's picture

Prisoners of the system! Love the avatar!

Tue, 09/06/2011 - 10:01 | 1638131 Rusty Shorts
Rusty Shorts's picture

...ah yes, the US Dollar, the mark of the Beast Bitchez.

 

ECONOMIC THREAT LEVEL

Harmonious. :)
Content. ;)
Indifferent. :-
Discontent. :/
Almost fucked. :( 
Totally fucked. :0 -------------You are here------------

Tue, 09/06/2011 - 18:40 | 1639876 Max UK
Max UK's picture

Gerald Celente already announced on KWN that he is out of the CHF, and now 100% into gold, as being the only safe haven. He saw the writing on the wall regarding the Swissie, and communicated that publicly.

Tue, 09/06/2011 - 08:51 | 1637860 topcallingtroll
topcallingtroll's picture

"You can borrow swiss francs at zero percent interest"

No I cant. Only the banks and the politically connected wealthy can.

It is now the perfect carry trade currency for insiders. The swiss ventral bank has made it clear thete is no downside risk, for now.

I can get a 5.25 percent rate. I suppose I can pick up a few crumbs the oligarchs dont want, but not without risk in my case.

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