JPY10 Trillion Intervention Half-Life: 5 Hours; Full Fade: 9 Hours

Tyler Durden's picture

It appears that the Central Banks have finally reached Peak Efficacy, after shooting themselves in the head with Bernanke's asinine QEternity which leaves nothing else to be priced in. Last night's JPY10 trillion fact (no longer rumor, whisper, or promise) of more LSAP from the BoJ had its typical knee-jerk reaction but within 5 hours it was 50% retraced and now at 9 hours the entire move (and its accompanying S&P 500 future's correlated risk-on surge) have been fully retraced. In other news, there is a rumor that the Bank of Zambia is contemplated proceeding with open-ended easing to infinity and beyond. Sadly, none of this matters at all any more as monetary policy is no longer a factor in a world in which all the future CTRL-Ping is already accounted for.

Just as we said last night, minutes after the 'event':



USDJPY spike, half-life and full decay

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MillionDollarBoner_'s picture

No too much bang for your buck - or Yen, either

HelluvaEngineer's picture

Eh, they're not worth anything anyway.

Short Memories's picture

I'm still waiting for AKB48 to sing and dance to sell the earthquake reconstruction bonds! I thought that was due in June

Stackers's picture

Thats not flying. Thats falling .... with style.


GetZeeGold's picture



Hardly worth the effort really.


SWRichmond's picture

Get your ass back to your computer and click some more, dammit!

Bernanke: "we credit their accounts [electronically]"

GetZeeGold's picture



Bernanke: "we credit their accounts [electronically]"


I haven't seen a dime of that money.


TwoShortPlanks's picture

Central Bank 'Renormalization' of economy, Ctl+Alt+R...there, all better now.

trebuchet's picture

This is GOOD NEWS!!!!

Finally, if monetary policy (ok its crap and inflatonaory) is being IGNORED by the market (or rather assumed to exist for now) so market looks beyond that, then main street and wall streat can work together and finally get on with the recovery. 

And look at real opp costs of doing business and start sending proper signals back to markets, banks and the Bernank...!!!!!  and banks can start cleaning up their crap rather than rotation mark to moon dust assets from one liquidity fix to another!!! 


YEAH, things are getting SORTED!!! 


And ................... PIIGS might fly too........................



JPM Hater001's picture

"I haven't seen a dime of that money."

I-t-s    e-l-e-c-t-r-o-n-i-c

shesh...some public educations

WatchingIgnorance's picture

I'll take Fiat Currency for 1 Trillion Alex.

LawsofPhysics's picture

Currencies dying everywhere.  Got physical?  Was it Bass that said the yen will die first?  Could he be right?

Deep79's picture

The yen is strenghing to us dollar

What the hell you taking about




LawsofPhysics's picture

Wake the fuck up.  What is the Yen relative to Gold?  what is the dollar relative to gold, what is (fill in the blank with your favorite fiat) relative to gold...

Deep79's picture

So explain how the yen will die  first?



LawsofPhysics's picture

Contracts for commodities will no longer be settled in Yen.  China is one of Japan's largest trading partners.  What I am trying to figure out is how Japan (and the Yen) get assimulated.  China obviously wants to assimulate Japan (that is what all this is really about) but the U.S. is very much behind the Japanese (but the U.S. is in deep shit economically and a bit over-extended shall we say).  If the U.S. wasn't in bad shape we would simply buy more Japanese products (already buying Japanese debt).  Interesting times indeed..

exi1ed0ne's picture

Two bums jump off the Empire State building to off themselves.  As they fall, the bum on the right falls a bit faster because his rags were a little more aerodynamic.  The lagging bum points to the one ahead and laughs "HAHAHA, you are in way worse shape than me!!"  SPLAT. . . SPLAT.

Edit, cause I kant speel.

debtor of last resort's picture

And what will be his profit? And is there enough time for Bass to exchange it for physical gold and silver? Pfoe, it's raining shit these days.

jbc77's picture

Love it.......

It appears as though we are reaching the outer limits of the printing press.


Cultural Capital's picture

"Change" you can believe in

GetZeeGold's picture



Gosh.....I "hope" so!!!

Peter Pan's picture

Those ink-jections don't seem to be working much anymore.

Wakanda's picture

Better hook up the big iv drip.  Oh wait...

exi1ed0ne's picture

"We've secretly replaced these patients IV's with Folgers Crystals. . ."

LongSoupLine's picture



Pretty sad when a buzz from a $2.00 40oz of Old English lasts longer than  10T yen

TheSilverJournal's picture

Not all the CTRL + P is accounted for. Currency still has value.

john_connor's picture

No one cares anymore.  Eventually cash flows will shrink to the point where the ponzi implodes.

Peter Pan's picture

These guys are such maniacs that they will still manage a Dow Jones high the same day they declare a bank holiday.

babylon15's picture

I think this raises a good question.  Japan has had the ability to print, unlike Greece, and its debt problems are bigger.  Yet not much printing has occurred.  Why?  What is holding Japan back from printing a lot more money?

schatzi's picture

So after this failed attempt to adjust exchange rates, will the head of the BoJ commit Seppuku?

Sheeple Shepard's picture

Y10 Trillion vaporised in 9 hours, that's fabled Japanese efficiency in action that is. Germans turn next and they are REALLY efficient.

Debtonation's picture

Obviously it wasn't big enough.  Let's make that Y100 trillion.

fonzannoon's picture

How in the hell is crude trending down, if even for a day...with qefinity..?

LawsofPhysics's picture

The house of Saud promising more output - FAIL.  BTFD.

fonzannoon's picture

gold just dropped 7 bucks in one tick and 30 seconds later it recovered 6 bucks with nothing else materially changing. 

Peter Pan's picture

Forget your watch and keep an eye on your calendar. Even better just read your history books and don't worry about gold's fiat price.

LawsofPhysics's picture

You can bet some algo-bots made a "profit".  You and I, not so much.

fonzannoon's picture

It's so in your face it is amazing. I think we should have a "punch a trader in the face day" every week. Wednesday's are good enough as any day.

eddiebe's picture

Currency wise it's a race to the bottom, yet talk about Gold and Silver is largely missing from notice by most. The banksters are doing an excellent job in manipulating, and are in firm control. Even if it sometimes seems like they are not, they are laughing all the way to the bank, their bank, their bullion bank.

booboo's picture

Another BENZI, er I mean BANZI attack thwarted by entrenched Machines, opps I mean Marines.

Ol Man's picture

Japan is NOT Uganda...



GetZeeGold's picture



Good news for Seal Team Six!

Money 4 Nothing's picture

And China is not BRICS, so what's the point?

Thought criminal's picture

This cannot be left without a response! Heli Ben needs to show everyone who's the biggest money printer and come with a counter immediately!

Hobbleknee's picture

Do it again with even moar! That'll fix it.