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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Wed, 09/19/2012 - 08:17 | 2810363 MillionDollarBoner_
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No too much bang for your buck - or Yen, either

Wed, 09/19/2012 - 08:20 | 2810372 HelluvaEngineer
HelluvaEngineer's picture

Eh, they're not worth anything anyway.

Wed, 09/19/2012 - 08:28 | 2810400 Short Memories
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

Wed, 09/19/2012 - 08:34 | 2810424 Stackers
Stackers's picture

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


Wed, 09/19/2012 - 08:43 | 2810455 GetZeeGold
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Hardly worth the effort really.


Wed, 09/19/2012 - 08:47 | 2810474 SWRichmond
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Get your ass back to your computer and click some more, dammit!

Bernanke: "we credit their accounts [electronically]"

Wed, 09/19/2012 - 08:54 | 2810501 GetZeeGold
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Bernanke: "we credit their accounts [electronically]"


I haven't seen a dime of that money.


Wed, 09/19/2012 - 09:16 | 2810581 TwoShortPlanks
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Central Bank 'Renormalization' of economy, Ctl+Alt+R...there, all better now.

Wed, 09/19/2012 - 10:33 | 2810934 trebuchet
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........................



Wed, 09/19/2012 - 09:29 | 2810644 JPM Hater001
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

Wed, 09/19/2012 - 08:43 | 2810459 francis_sawyer
francis_sawyer's picture

What does ETC, ETC, ETC mean in Japanese?


Wed, 09/19/2012 - 09:41 | 2810700 CcalSD
Wed, 09/19/2012 - 10:04 | 2810816 WatchingIgnorance
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I'll take Fiat Currency for 1 Trillion Alex.

Wed, 09/19/2012 - 08:18 | 2810365 D-Man
D-Man's picture

Samurai QE?

Wed, 09/19/2012 - 08:59 | 2810518 kralizec
kralizec's picture

It's Yen-tastic.


Wed, 09/19/2012 - 08:19 | 2810367 LawsofPhysics
LawsofPhysics's picture

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

Wed, 09/19/2012 - 08:26 | 2810389 LongSoupLine
LongSoupLine's picture

yes, yes and yes.

Wed, 09/19/2012 - 08:30 | 2810412 Deep79
Deep79's picture

The yen is strenghing to us dollar

What the hell you taking about




Wed, 09/19/2012 - 08:42 | 2810451 LawsofPhysics
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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...

Wed, 09/19/2012 - 08:53 | 2810496 Deep79
Deep79's picture

So explain how the yen will die  first?



Wed, 09/19/2012 - 09:13 | 2810551 LawsofPhysics
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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..

Wed, 09/19/2012 - 09:10 | 2810554 exi1ed0ne
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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.

Wed, 09/19/2012 - 08:36 | 2810431 debtor of last ...
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.

Wed, 09/19/2012 - 08:21 | 2810374 jbc77
jbc77's picture

Love it.......

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


Wed, 09/19/2012 - 08:21 | 2810375 Cultural Capital
Cultural Capital's picture

"Change" you can believe in

Wed, 09/19/2012 - 08:55 | 2810505 GetZeeGold
GetZeeGold's picture



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

Wed, 09/19/2012 - 08:23 | 2810381 Peter Pan
Peter Pan's picture

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

Wed, 09/19/2012 - 08:40 | 2810437 Wakanda
Wakanda's picture

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

Wed, 09/19/2012 - 09:11 | 2810570 exi1ed0ne
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"We've secretly replaced these patients IV's with Folgers Crystals. . ."

Wed, 09/19/2012 - 08:24 | 2810385 LongSoupLine
LongSoupLine's picture



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

Wed, 09/19/2012 - 08:25 | 2810388 TheSilverJournal
TheSilverJournal's picture

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

Wed, 09/19/2012 - 08:26 | 2810392 john_connor
john_connor's picture

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

Wed, 09/19/2012 - 08:40 | 2810443 Peter Pan
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.

Wed, 09/19/2012 - 08:27 | 2810394 babylon15
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?

Wed, 09/19/2012 - 08:27 | 2810395 schatzi
schatzi's picture

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

Wed, 09/19/2012 - 08:30 | 2810404 Sheeple Shepard
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.

Wed, 09/19/2012 - 08:30 | 2810406 Debtonation
Debtonation's picture

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

Wed, 09/19/2012 - 08:30 | 2810410 fonzannoon
fonzannoon's picture

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

Wed, 09/19/2012 - 08:45 | 2810466 LawsofPhysics
LawsofPhysics's picture

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

Wed, 09/19/2012 - 08:40 | 2810440 fonzannoon
fonzannoon's picture

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

Wed, 09/19/2012 - 08:43 | 2810456 Peter Pan
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.

Wed, 09/19/2012 - 08:44 | 2810460 LawsofPhysics
LawsofPhysics's picture

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

Wed, 09/19/2012 - 08:47 | 2810477 fonzannoon
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.

Wed, 09/19/2012 - 08:41 | 2810448 eddiebe
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.

Wed, 09/19/2012 - 08:41 | 2810449 booboo
booboo's picture

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

Wed, 09/19/2012 - 08:42 | 2810452 Ol Man
Ol Man's picture

Japan is NOT Uganda...



Wed, 09/19/2012 - 08:55 | 2810509 GetZeeGold
GetZeeGold's picture



Good news for Seal Team Six!

Wed, 09/19/2012 - 09:01 | 2810531 Money 4 Nothing
Money 4 Nothing's picture

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

Wed, 09/19/2012 - 08:44 | 2810461 Thought criminal
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!

Wed, 09/19/2012 - 08:46 | 2810470 Hobbleknee
Hobbleknee's picture

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

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