Here Is What Happened After The Last Global Coordinated Central Bank Intervention

Presented with little comment but following the mid-September Global Save, things didn't end so well.

Chart: Bloomberg

Comments

[willien1derland]

Folks, the only difference between the Central Banks & Bernanrd Madoff's Ponzi is the fact that the Central Banks can produce fiat that has the connotation which is semantically referred to as a 'Store of Value' - the issue as EVERYONE who reads ZH knows is that the impairment of fiat value is deteriorating & the deterioration has now entered a cycle of exponential bursts of devaluation of which today we have witnessed, once again, another just burst....the expressed volatility which rattled the banking system, invaded the capital markets destroying true exchange....volatility is the symptom which best expresses the cancer & I am not referring to the VIX as it has been compromised by the levered nature of the trading casino...like a sine wave each trough must be counteracted by a larger force and at some point, like every system under extreme conditions - THE SYSTEM FAILS...LOOK at what has happened to the US governement...you learn in Civics class that there are 3 branches of government; Legislative, Executive. Judicial...now the Treasury/Fed has created a fourth branch - with no oversight or accountability to the other 3 branches of government nor to the people of America...The lie is that the Fed is protecting America from Depression/economic collapse...the truth is that the collapse is expressed as impairment expressed over time marginalizing the american public & allowing the privileged few to 'game' the circumstances...Bernacke cannot print us to prosperity & as he continues this reckless & irresponsible path he drags billions of people all around the work not to mention the future generations into economic hell & some version of bonded servitiude...May he rot in HELL for his 'intension' is leading us all down the path to some version of HELL!

[on the bananapeel]

if you bought silver in 2000...

if you buy FAZ in 2011..

have patience

[MarketWatchTerrorist]

moved

[wee-weed up]

Another blast from the past...

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Press Release

Release Date: September 18, 2008

Today, the Bank of Canada, the Bank of England, the European Central Bank (ECB), the Federal Reserve, the Bank of Japan, and the Swiss National Bank are announcing coordinated measures designed to address the continued elevated pressures in U.S. dollar short-term funding markets. These measures, together with other actions taken in the last few days by individual central banks, are designed to improve the liquidity conditions in global financial markets. The central banks continue to work together closely and will take appropriate steps to address the ongoing pressures.

Federal Reserve Actions
The Federal Open Market Committee has authorized a $180 billion expansion of its temporary reciprocal currency arrangements (swap lines). This increased capacity will be available to provide dollar funding for both term and overnight liquidity operations by the other central banks.

http://www.federalreserve.gov/newsevents/press/monetary/20080918a.htm