Rumor Of FX Swap Line Rate Cut Is Euro Hail Mary As Goldman Is About To Be Stopped Out On Tactical EURUSD Trade

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Thu, 09/22/2011 - 09:37 | 1696636 Edward Fiatski
Edward Fiatski's picture

Rumour half-life: 30 minutes.

And don't pity the suckers on Goldman's 1.5 EUR calls for 2012. LOL

Thu, 09/22/2011 - 09:40 | 1696649 unky
unky's picture

1.50 Euro is still possible if another QE is anounced (look, in 2010 the euro was at 1.19 and then went nearly to 1.50 in april 2011)

Thu, 09/22/2011 - 09:49 | 1696690 GeneMarchbanks
GeneMarchbanks's picture

Or if Greece defaults and drops out of the monetary union.

Thu, 09/22/2011 - 09:51 | 1696697 spiral_eyes
spiral_eyes's picture

FX is just a race for who can run the printing presses faster.

Yeah, it's quite interesting to see who is running it faster, but in the end it's all going into the toilet.

Real men price things in gold. 

Thu, 09/22/2011 - 09:51 | 1696698 Edward Fiatski
Edward Fiatski's picture

Big if.


They need a strong USD to kill oil price and get food out of people's fridges in the Arab countries. Can't have more revolutions with oil at 130.

Thu, 09/22/2011 - 09:40 | 1696643 BrocilyBeef
BrocilyBeef's picture

Euro is trash, just located in a different dump.

Safety assets: Gold, Silver, Land, Water, ...shovel, ... gummy worms, ...US Dollar.

Thu, 09/22/2011 - 09:42 | 1696657 Gene Parmesan
Gene Parmesan's picture

I'm long gummy worms (and bears), short peeps.

Thu, 09/22/2011 - 09:53 | 1696706 BrocilyBeef
BrocilyBeef's picture

Gotta be short peeps.

Thu, 09/22/2011 - 10:02 | 1696737 Max Hunter
Max Hunter's picture

anyone long EUR/USD will deserve what's coming to them.. big mistake.. Lower lows... The only thing GS can do is provide shorting opportunities..  Another break below 1.34 is a break through a 4H channel trending down and will be a free fall from there.

Thu, 09/22/2011 - 09:54 | 1696710 XenoFrog
XenoFrog's picture

Luckily there's a sale on silver today. Much to my horror.

Thu, 09/22/2011 - 10:24 | 1696832 Frog-And-Toad
Frog-And-Toad's picture

Do you think you're seeing commodities getting killed because people are selling off contracts, thus making the dollar artifically strong?  

My timing has always been pretty bad, as I seem to make the right plays, but just can't time it right.  I think once people realize that the Twist will put $400 billion in the system as the Fed sells short bonds, there will be a buying frenzy in commodities... Thing is, who knows when that will be?  

Thu, 09/22/2011 - 10:43 | 1696914 Robert Neville
Robert Neville's picture

They aren’t really putting money into the system they are just changing their portfolio allocation. They had hoped that people would see it as an inflationary event but it didn’t work. They are desperate since they are under extreme pressure to stop printing. In the end they will have no choice. In the short term people will sell anything that isn’t nailed down to cover their losses like 2008.

Thu, 09/22/2011 - 09:58 | 1696722 BrocilyBeef
BrocilyBeef's picture

people don't like my safety assets?

Thu, 09/22/2011 - 09:39 | 1696644 Village Smithy
Village Smithy's picture

Spike in GLD volume with relatively small price change. Pivot?

Thu, 09/22/2011 - 09:39 | 1696646 DrunkenMonkey
DrunkenMonkey's picture

Can't blame them for trying .. and those of us that make things in Europe would like it much lower please.

Thu, 09/22/2011 - 09:40 | 1696647 GeneMarchbanks
GeneMarchbanks's picture

Hail Mary's all around.

Thu, 09/22/2011 - 09:40 | 1696650 janus
janus's picture

i guess maybe time to sched. that va-ca to barcelona, eh?

enjoy the ephemeral dollar surge -- it'll be like post WWII days for, oh, as long as it takes the bundersbank to issue that new currency. 

unless chavez and the arabs and putin start demanding gold for oil -- which they very well may.

Thu, 09/22/2011 - 09:56 | 1696714 j0nx
j0nx's picture

They best have spent a lot of their oil money on military and training if they do that because Amerikee will have itself a little terrorist attack that will in turn get blamed on them and used as an excuse to blow their asses back to the stone age.

Thu, 09/22/2011 - 09:42 | 1696652 slackrabbit
slackrabbit's picture

Remember, this is all good according to the Krugman bible.

Please remember to do your bit and set fire to your neighbour’s house.


Thu, 09/22/2011 - 09:43 | 1696658 Gmpx
Gmpx's picture

EUR will be back to 1.40-1.50. The problem is how fast and wide the rates move these days. These moves make any normal non-financial business impossible which leads to job and salary cuts.

Thu, 09/22/2011 - 09:44 | 1696663 Edward Fiatski
Edward Fiatski's picture

Sold to you. LOL I have some Greek 1yr bonds for sale, 130% yield. :-)

Thu, 09/22/2011 - 09:49 | 1696692 snowball777
snowball777's picture

You poor bastard. Best of luck with that wallpaper.

Thu, 09/22/2011 - 10:07 | 1696763 Gmpx
Gmpx's picture

EUR is not Greek bond. EUR is a co-operative currency which makes it the best fiat currency in the world.

Thu, 09/22/2011 - 10:58 | 1696985 edotabin
edotabin's picture

However, it still must be supported by something.  That "something" is the collective will of crooked politicians/bankers. In the beginning they floated Euros around everywhere to build confidence.  Now people are catching on to the scam. As they start demanding answers (things go bad) the effect is like shining light on roaches. They all run for the exits and start the blame game.

People always applaud collective efforts until something goes wrong.

Thu, 09/22/2011 - 10:30 | 1696860 slackrabbit
slackrabbit's picture


(nod to robocop)


Thu, 09/22/2011 - 09:43 | 1696660 lolmao500
lolmao500's picture

Silver is getting killed.

Thu, 09/22/2011 - 09:45 | 1696670 homersimpson
homersimpson's picture

If you look at it from a short term perspective, yes silver is getting killed.. but if you've been around for a while, silver is doing quite well for many here..

Thu, 09/22/2011 - 09:47 | 1696681 Edward Fiatski
Edward Fiatski's picture

That's because you don't trade PM ETFs, either buy it and hold till after the third World War, or get the fuck out of the way.

Thu, 09/22/2011 - 09:52 | 1696701 snowball777
snowball777's picture

Fuck paper.

Thu, 09/22/2011 - 09:52 | 1696702 youngman
youngman's picture

Its kind of like the scene in the Posiden Ship movie.....the people that were walking down lower into the water.....they are going the wrong sell today is the same thing...when the dust settles..there will be fewer banks...lots of stock losses...Bond losses...and gold will be the New World Currency...its has to at this the vaults...people, funds, countries are asking for thier real gold and silver....and want to check it out or move it...would you trust a BAC with your gold right now?????  Not me...

Thu, 09/22/2011 - 09:49 | 1696694 Snidley Whipsnae
Snidley Whipsnae's picture

Gold catching a bid at ~ $1735... Exactly where 'London Trader' said the big money had positioned tonnage buy orders.

Gold with wings... Heading to Asian vaults... never to return to the West.

Am adding physical today.

Thu, 09/22/2011 - 09:52 | 1696704 snowball777
snowball777's picture

Damn flying monkeys!

Thu, 09/22/2011 - 09:54 | 1696709 Edward Fiatski
Edward Fiatski's picture

Hey, we'll re-distribute it aftet the next world war. BIS contacts are in place.

Thu, 09/22/2011 - 09:49 | 1696666 hedgeless_horseman
hedgeless_horseman's picture

At $4.05 this am, that THC short has almost doubled since spring.  Maybe time to cover half and book some profits.




Very bad for providers, so other side is to short THC...

Thu, 09/22/2011 - 09:45 | 1696671 Moneyswirth
Moneyswirth's picture

Picked a hell of a day to forget my Etrade password

Thu, 09/22/2011 - 10:07 | 1696762 Josh Randall
Josh Randall's picture

And to stop sniffing glue 

Thu, 09/22/2011 - 09:46 | 1696674 disabledvet
disabledvet's picture

Again the problem is not a lack of dollars but a lack of euro's. Move along! Move along!

Thu, 09/22/2011 - 10:07 | 1696764 falak pema
falak pema's picture

why is that? Does triché have tired printing fingers?

Thu, 09/22/2011 - 09:47 | 1696676 youngman
youngman's picture

I said yesterday the big announcement was a non event...they had to run back to the meeting room to get back to work on saving the EU...that is up front and center right now if your are a bankster....they don´t give a shit about USA employment....

Thu, 09/22/2011 - 09:47 | 1696677 Irish66
Irish66's picture

Shitting their pants again

Thu, 09/22/2011 - 09:48 | 1696679 youngman
youngman's picture

P.S.   there is a bank run going on right now...its just not televised IMHO

Thu, 09/22/2011 - 09:48 | 1696680 walküre
walküre's picture

The CAD is dropping like a stone.

Buckle up. Last time this happened was 2008 and it was not pretty.

Euro is up strong against CAD and other currencies.

Thu, 09/22/2011 - 09:49 | 1696685 Edward Fiatski
Edward Fiatski's picture

BTFD on USD/commodity currencies. You ain't seen nothing yet.

Thu, 09/22/2011 - 09:48 | 1696684 yabs
yabs's picture

yeah silverf is gegtting creamed but as ong as we have Krugmans and bernaks i'll keep it over paper any day

Thu, 09/22/2011 - 09:49 | 1696687 Translational Lift
Translational Lift's picture

as the Fed would give dollars to European banks for virtually no money

Drug dealers giving more to their junkies!!

Thu, 09/22/2011 - 09:49 | 1696689 falak pema
falak pema's picture

Land of the Oligarchs : they can dump on the market their smelly load, having pumped it dry. Up and down it goes but they never lose. When looking at the Forbes "richest men in the world list" i noticed that G Soros net worth had increased by 33% in the last year. Now its 21 billion (I believe from memory). Just goes to show : An Oligarch never loses if he is smart...

As Mankiewicz's script said in 'the Barefoot Contessa' : Making your first million is an achievement, going from 100 M to 110 M is inevitable.

Thu, 09/22/2011 - 09:49 | 1696691 bania
bania's picture

What's the over/under on the "IT'S ON LIKE DONKEY KONG" graphic appearing today?

Thu, 09/22/2011 - 09:51 | 1696699 GeneMarchbanks
GeneMarchbanks's picture

The deer, God I love the deer.

Thu, 09/22/2011 - 09:58 | 1696720 lizzy36
lizzy36's picture

We all love the deer.

But threshold for its appearence has gotten higher since august.

Must be down at least -400 for its to appear.

Or behaps BAC with a $5 handle ;)

Thu, 09/22/2011 - 09:49 | 1696693 Kina
Kina's picture

Gold and Silver not too bad in AUD.

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