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If this gets lit you will see MASSIVE FX moves. It will each back into the Euro and Pound in particular.
Watch them carefully; the destruction there will be immediate, especially in the Euro. That's the flashpoint if Eastern Europe comes apart. You could easily get a 500+ pip move that is very close to vertical.
If that happens, duck and cover; a move like that will set off a cascade and be impossible to control.
Originally posted by ghaleon12
Originally posted by SpaDe_
If someone sucked all the US dollars out of the market what do you think that would do here? I'll tell you what it would do here. First there would be failed to delivers at banks. Then when people would go to withdraw money from their accounts some banks would either limit the amount of withdraw, or completely refuse any withdraw amount. After this, word will spread, people will panic, and a massive bank run will ensue.
Wrong. The dollars in peoples' banks don't even go on the market. That's like saying if gold goes way up in price, you wouldn't be able to access the gold in your safety deposit box.
I'm only on page 3 or so but this so far is totally not a big deal from the evidence being presented. It reminds me of the threads showing ten 1.5 earthquakes in an area and people are like "ZOMG 10 earthquakes have just hit, this is crazy unusual". A geologist would laugh at them, but who knows, maybe there is something to what's going on but I doubt it.
Originally posted by townio
The more I look at this the more the USD seems indestructible regardless of the state of home economy. Now that the whole world was brought into recession by the credit crisis central banks bet on the USD to get their economies back on track. IMO it's time to buy $
Originally posted by Jim Scott
Asian spot price for gold as of now is only up less than 2$ from New York price on 2/12. I don't see a problem. See for yourself at www.kitco.com...
Originally posted by nj2day
anyone had any luck finding Vol/ADV stats for the FX, or USD? LOL
I'm still looking... but I don't see it anywhere...
Originally posted by David9176
Nice find OP.
S & F
What exactly does this mean?
I'm not a genius when it comes to the stock market by any means.
Whatever it is, it doesn't look good.
Is this possibly similar to what happened on Sept. 11 of last year?
www.abovetopsecret.com...'[edit on 16-2-2009 by David9176]
[edit on 16-2-2009 by David9176]
Originally posted by redhatty
Market Ticker - Source
I do not know what is going on here, and I don't think I want to.
Someone, apparently someone in Asia, wants dollars. A LOT of dollars. There is a forced-liquidation event underway that is massive, it is against all asset classes and it is spreading.
It originated at approximately 7:15 CT this evening and originated out of Asia somewhere. All of the primary currency crosses got hit at once - Euro, Pound, Yen - all weakened dramatically against the dollar and it is still going on. The Asian stock markets got walloped at the same time in coordinated waves of forced selling.
At the same time the US futures markets got nailed as well, down some six handles on the /ES in a near-vertical drop. While this sounds "not that big" to move these markets in a coordinated fashion like this is a trillion-dollar enterprise - this is not some small company that went bankrupt, or even a large company.
There is no news coverage at the present time identifying the source of this but it is not small and contrary to some reports it is not "automatic selling"; this is forced liquidation.
Folks, if this translates into Eastern Europe where there are severe instabilities already brewing literally everything in the financial world could come apart "all at once."
The worse news is that if this happens Bernanke will have killed us (in the US) by extending those swap lines all over the planet during the last six months. These will become utterly uncollectable and they are massive, in the many hundreds of billions of dollars.
To those who are reading this, I hope if you're in the markets you are prepared for extreme levels of violence. You must expect that the authorities will try to arrest the destruction if they are able, but you must also be prepared for the possibility that we have reached a "critical mass" point beyond which "duck and cover" is the only winning strategy.
That comes from Karl Denninger.
Will this reverse before our markets open in the morning, or are we going to see something really ugly??
I don't know, only time will tell
Trade volume amounted to US$800 million on the Taipei Forex. Including transactions of US$348 million on the smaller Cosmos Foreign Exchange, total turnover reached US$1.148 billion, data from the two foreign exchanges showed.
Originally posted by tjeffersonsghost
No story here folks so go to bed. This is just a well timed bit of market manipulation. This is the BOJ buying a ton of dollars to strengthen it up to help their exporting business which is being killed by the stronger yen. This is clear because
A. Hillary is over there
B. Honda comes out and says if we dont get a stronger USD bye bye Japan economy....
So the BOJ does some major selling of assets and putting them in dollars.....