Latest SNB Intervention Half Life - One Hour 15 Minutes

Tyler Durden's picture

Your rating: None

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Wed, 08/10/2011 - 06:58 | 1545488 cossack55
cossack55's picture

Are the Swiss leasing time on our printing presses?


Overprinting Bitchezzzzz!!!!!!

Wed, 08/10/2011 - 06:58 | 1545490 Josephine29
Josephine29's picture

Yes I think that it is showing desperation really and as the article highlighted below shows the pain from all this extends through Eastern Europe.

The pain caused by the Swiss Franc to Eastern Europe must be getting unbearable now

All those mortgage holders in Poland and Hungary in particular must be really suffering as both their mortgages and their monthly repayments mount.

Wed, 08/10/2011 - 07:00 | 1545492 cossack55
cossack55's picture

They should never have believed that whole "American Dream" bullshit.  Maybe BaC can spin off CountryWide to Poland.

Wed, 08/10/2011 - 07:05 | 1545496 TheFourthStooge-ing
TheFourthStooge-ing's picture

Objects circling the bowl tend to move faster as they approach the drain.


Wed, 08/10/2011 - 07:08 | 1545500 oobrien
oobrien's picture

Futck 'em all.

They're never right.

But Gerald Celente is usually right.

Here's his latest:

Wed, 08/10/2011 - 07:10 | 1545504 johngaltfla
johngaltfla's picture

The larger issue is that nobody in the world wants to use the dollar or the Euro as their reserve so the Swiss Franc, Yen (for whatever reason), and Gold have become the ultimate replacement. Unless the Swiss decide to go Weimar, there is not enough intervention in the world available for the fiat currency freakazoids to prevent the CHF from hitting 0.50.

Wed, 08/10/2011 - 08:10 | 1545636 margaris
margaris's picture

Yes, this number 0.50 keeps popping up for about a year now. I believe Hildebrandt himself pulled the number out of his ass to scare the Bund.

I think the swiss piggy bank will explode long before that 0.5 is approached...

When switzerland explodes a cloud of overvalued chf-notes will rain down over whole europe and merge with the worthless euro-notes and create something new...

Wed, 08/10/2011 - 07:16 | 1545509 Gooseone
Gooseone's picture

Is it me or is this all going exactly like planned ?

Europe forced to inflate their money supply , Japan ...Switzerland

Now all is needed to force China do take action en maybe the UK some more and all fiat is dilluted and the debt problem is on the plate of the middle class.


So how should one interpretate the S&P downgrade after the Fed also made sure yesterday treasuries are on extra discount ?

Besides easing is this not just another way of hammering down the dollar ?

Wed, 08/10/2011 - 07:23 | 1545523 Quintus
Quintus's picture

The Swiss are learning a hard lesson.  That lesson is 'Do not act responsibly.  Do not build up a sound economic position.  Do not refuse to overborrow and blow the money on unproductive indulgence'.  If you do, the mass of broke, spendthrift zombies will try to drag you into the Abyss with them anyway.

This lesson also applies to Germany. who did the right thing but are now being dragged down by their spendaholic neighbours.

Any private individual who had the temerity to live sensibly, save some money and provide for themselves is similarly being raped by effectively zero interest rates on their savings.  

All in the name of 'Saving' those who fucked up.


Wed, 08/10/2011 - 09:51 | 1545986 Hedgetard55
Hedgetard55's picture



Uncle Ben has stolen three years of interest income from me and given it to his bankster buddies, the ones who created the mess in the first place. Hopefully Ben will someday get what is coming to him - an orange jumpsuit and a celly named Bubba for life.

Wed, 08/10/2011 - 07:22 | 1545525 æther
æther's picture

Three words: Diminishing marginal return.

Wed, 08/10/2011 - 07:27 | 1545538 Dr. Engali
Dr. Engali's picture

Our printing presses are faster than yours. Nanny nanny boo boo.

Wed, 08/10/2011 - 07:47 | 1545578 mantrid
mantrid's picture

I don't think they're that dumb to waste ammo for nothing... if they were dumb, they wouldn't manage to set up this safe-haven. I wonder, what transactions occured in that timeframe, whom was that supposed to help...

Wed, 08/10/2011 - 07:56 | 1545600 THE DORK OF CORK
THE DORK OF CORK's picture

Massive central bank buying of Gold coming to a cinema near you.

Wed, 08/10/2011 - 08:09 | 1545631 Urban Redneck
Urban Redneck's picture

The SNB is running out things to lose- they should set up an off-balance sheet SIV and start sucking gold off the open market to intentionally drive the gold price up to a level which reflects the monetization efforts of the reserve CBs (FED & ECB), which might motivate their worthless asses to supply CHF to their domestic markets through basically a naked short transaction (and in the process assume some of the burden for the mess their printing presses have created)...  Time to get back to my European August... 

Wed, 08/10/2011 - 08:33 | 1545682 THE DORK OF CORK
THE DORK OF CORK's picture

Whatever mechanism they use they should reduce the leverage of the fiat fx market which is doing great damage to the physical economies of the world.

Wed, 08/10/2011 - 08:00 | 1545610 slackrabbit
slackrabbit's picture

The cap'n says Lets pray they keep o'printin Lads

while we hoard our gold.

Time comes that booty will be all ours, and the bankers be our bitches


Wed, 08/10/2011 - 08:01 | 1545614 chinaguy
chinaguy's picture

Quote from Gerry Davies Re the CHF trade this AM:

The cross action went something like this.  Went up early amid mutterings of SNB intervention (never confirmed) Then it crapped out as reports came in that North Korea had taken pot shots at South Korean island. No sooner had we slumped to session low than we hurtled back to session high as news came in that the SNB had expanded measures against the strong franc. We then drifted lower as the market questioned whether the SNB measures are going to be enough.

Wed, 08/10/2011 - 09:51 | 1545984 eurusdog
eurusdog's picture

I am telling you now, it won't be long before they downgrade GDP outlook to negative and report on a few banks possible failures, and that they are running a huge deficit, or some other manufactured Swiss crisis.

Wed, 08/10/2011 - 10:04 | 1546074 Grand Supercycle
Grand Supercycle's picture

The parabolic USDCHF is so oversold a corrective crash (up) is possible.

Thu, 08/11/2011 - 00:12 | 1549827 Ye Ye
Ye Ye's picture

Sorry to be naive, but ... can't the Swiss just say "I'll print you as many CHF as you want for $1.30 each."  How come they don't do that?  (Same question for BOJ, "we'll print 1000 yen for $12.50" ...)

Wed, 09/14/2011 - 05:27 | 1667624 chinawholesaler
chinawholesaler's picture

Wholesale Tableware
Wholesale Pom Poms

Wholesale Knife
Audio Video Equipment
Wholesale Compressed Products

Wholesale Kitchenware
Voice Recorder
Wholesale Bracelet

Promotional Products
Wholesale Watch
Wholesale Frisbee

Wholesale Clap Hands
Money Clip
Silicone Products

Pet Supplies
Wholesale Swimming Products
Wholesale Clap Hands

Flash Gift
Baby Products Suppliers
Promotional Products

Business Gift
Pet Supplies
Wholesale Suppliers

Wholesale Calendar
CD Holde
Wholesale Whistle

Wholesale Towel
Wholesale Clap Hands
Promotional Gifts

Beauty Equipment
Wholesale Halloween Gift
Wholesale Tie

Muslim Products
Wholesale Massager
Wholesale Furniture

Wholesale Tableware
Muslim Products
Pet Supplies

Wholesale Helmet
China Wholesale
China Wholesale

Pen Holder
Wholesale Whistle
China Wholesale

Audio Video Equipment

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