11515 Gleaning FOREVER OBOZO CLOWN))*((POTUS SEAL ”IS” AF#1 ”PUSSY” CONFIRMED Tsunami Of Shame Crashes ACroSS World Market(s) Bomb Goes Off Spiking The Cup Of Swiss Miss Fornication
Boom goes another market myth…
Remember that whole “cleanest dirty shirt” or “decoupling” narrative that gets trotted out day after day when any global turmoil prompts risk-off positioning and asset-gatherers and talking-heads proclaim T.I.N.A. but to invest in the “fundamentally strong” US… well… it’s completely wrong!
Stocks initially jerked higher on the SNB news (as didbond yields and crude oil) as the removal of the EURCHF ceiling prompted belief in ECB QE being imminent… but that quickly reverted – not helped by Christine Lagarde’s clear discontent with the SNB decision and investors realized that for the first time in years, a central bank surprised traders…
It’s a one-two for the muppet mauling masters at Goldman Sachs, who first crucified anyone who listened to the Buy Best Buy reco from Tuesday, and now, those who put their money into Top Trade #6 for 2015 by the Goldman uber traders, which was to Short CFH/SEK – obviously on margin – just got crucified after the unlevered pair just crashed 16.5%, stopping out those who listened to Goldman and sold CHFSEK to Goldman’s prop, pardon flow, traders, and leading to a complete loss on margin, unless of course one has an infinite balance sheet.
The dissident creditors accused Apollo and TPG of trying to create a “good Caesars” to hold the valuable properties and a “bad Caesars” to owe most of the debt.
Just The First Shocking Surprise In 2015
But, Eric, this is just the first shocking surprise in markets in 2015. We will see many more of these type of currency revaluations in the future. We will also see similar moves in bond markets and stock markets this year and in coming years. Investors who are not prepared will see disastrous results in their portfolios.
The SNB was probably aware of a massive QE program about to be announced by the ECB next week. This is probably why they pulled the trigger now on the peg because they would have lost a lot more money next week. This is why they decided to cut their losses now at the 80 – 100 billion Swiss franc level.
The Balance Sheet That Ate Switzerland
(Grant’s, September 19, 2014) Like a celebrity in flight from the paparazzi, the Swiss Confederation demands protection from its pesky admirers. To beat back the unwanted appreciation of the Swissie, the Swiss National Bank is–once again–vowing to move heaven and earth. Now under way is a speculation. Prompted by a friend (that’s you, Harlan Batrus), we venture that the SNB will sooner or later be forced to permit the franc to appreciate and thus to enrich the holders of low-priced, three-year call options on the Swiss/euro exchange rate. It’s a long shot, to be sure–the options are cheap for a reason–but we judge that the prospective reward is worth the obvious risk.
Curiously, for all the damage that Swiss private banks have suffered at the hands of American regulators, and for all the Federal Reserve’s throat clearing about the supposed imminent rise in dollar interest rates, the franc is still, for many, the monetary bolt-hole of choice. To the Swiss, whose exports generate 54% of Switzerland’s GDP, it’s a kind of popularity they can live without–indeed, they insist, must live without.
Here’s a metaphysical head scratcher. The Europeans conjure euros, which the Swiss buy with their newly materialized francs. The managers exchange the euros for dollars (also produced by taps on a keyboard) and with that scrip buy ownership interests in real businesses. The equities are genuine. The money, legally and practically speaking, is itself real–you never mind having a little more of it. But what is its substance? We mean, how is it different from air?
No more floor
We suspect there will be a few more “taps on the shoulder” tonight (and tomorrow)…
The most violent thing to do to the Bankers, put ”their” Fiat Debt Note(s) In Their Banks and Lose.
THIS MAY BE THE END OF THE EURO- AS THE EUROPEAN BANKS ARE ALL IN HORRIFIC SHAPE-NEAGTIVE INTEREST RATES, MEAN YOU HAVE TO PAY THE BANK TO HOLD YOUR MONEY -GOLD AND ALL THE METALS EXPLODED UPWARD IN PRICE AS PEOPLE WORLD WIDE RUSHED TO BUY GOLD,SILVER ,PLATINUM AND PALLADIUM TO MAINTAIN THEIR PURCHASING POWER AND NOT HAVE TO PAY FOR THEIR CASH DEPOSITED IN BANKS,RESULTING IN NEGATIVE RETURNS ON THEIR DEPOSITS-THIS WILL TAKE PLACE IN AMERICA VERY SOON AMONGST THE TOO BIG TO FAIL BANKS AS THEY CAN LEGALLY NOW TAKE THEIR DEPOSITORS FUNDS TO COVER THEIR LOSSES- AS OTHER NATIONS IN EUROPE PLAN TO DECOUPLE FROM THE EURO AS GREECE AND ITALY HAVE ANNOUNCED THEY ARE CONSIDERING TO DO-IT REMAINS IN GERMANY’S COURT TO HAVE TO DETERMINE THE FATE OF THE EURO! PLATINUM AND PALLADIUM ARE ALREADY IN VERY SHORT SUPPLY GLOBALLY -GOLD AND SILVER AVAILABILITY COULD BECOME PROBLEMATIC IN A MATTER OF DAYS.
SMI:IND 8,324.78 873.42 9.50%
The rally in the franc briefly caused several benchmark indexes priced in euros to surge as Swiss companies reflected the currency jump. The Stoxx Europe 600 Index showed a gain of as much as 4 percent before paring the increase.
The good news is that the criminal enterprise that is BofA only had to pay $393 million in litigation expenses, far below the $2.3 billion a year ago. Then again, putting in context, BofA paid up $16.4 billion and $6.1 billion in 2014 and 2013, respectively, in “cost of doing business as a criminal enterprise.”
Finally, while JPM “forgot” to report its Net Interest Margin data, BofA was kind enough to provide it. One look at the chart below, which impact all banks, shows why JPM decided it could just do without this data in Q4.
Following disappointing results from JPM and Wells Fargo yesterday, it was Bank of America’s turn to “surprise” investors with its disclosure just how bad its quarter was. And with the bank reporting a 50% collapse in its sales and trading from Q3, down $600 million from a year ago to just $1.7 billion in Q4, it should come as no surprise that the bank just reported Net Income, before the usual spate of amusing addbacks, of $0.25 well below the $0.31 expected. And while one may argue whether ot not BofA’s EPS deserve non-GAAP adbacks, it was the Revenue of $18.96 billion, which missed expectations of $21.03 billion by over $2 billion (!) and down $2.7 billion from a year ago, that was truly a showstropper and shows that without the Fed’s visible hand manipulating markets every day, banks are a ticking time bomb just waiting to blow.
While the White House points to security concerns as the chief reason why President Obozo The Pussy skipped the anti-muslim terrorism rally in Paris over the weekend, some suggest the Secret Service and his advance team could have made it happen — if they really tried.
Instead, critics say the security explanation is being used as an “excuse.” Brad Blakeman, who served on the advance team for Skull&Bones George W. Bush’s campaign, said the Secret Service is the “scapegoat” here.
“The president can go wherever he wants to go,” Blakeman said.
The destruction wreaked by Antichrist Islamist militants in Nigeria when they slaughtered an estimated 2,500 people including a woman while she was in labour has been revealed in shocking new satellite images.
For the past five months a barrage of phone calls and internet postings have threatened employees. The callers vow to carry out mass murder.
Russia has been publically exploring energy (and military) relationships with countries outside of Europe — most notably, Antichrist China and Antichrist India.
because for the first time in almost two decades, energy-exporting countries would pull their “petrodollars” out of world markets in 2015..
The implications for financial markets liquidity – not to mention related downward pressure on US Treasury yields – is negative.
The US markets are just waking up to the bright red margin calls but the carnage in Switzerland remains. The Swiss Market Index plunged almost 15% on the SNB news (and is bouncing back modestly) to 3-month lows (Bullard lows) before bounciung back modestly. The Swiss yield curve has been crushed 10-20bps lower with yields negative all the way out to 9 year maturity… EURCHF is holding 1.02 for now…
In short: it’s a centrally planned world, and those who were short the CHF as of yesterday, our condolences on your career-ending event. But don’t worry, the recovery is here and you can easily get any other job you desire...
Tumbling retail sales and now surging jobless claims… perhaps the “low oil is awesome” narrative is not true after all. Initial Jobless claims surged to 316k (smashing expectations of 290k) and has not been higher since June 2014. The BLS reports no unusual activity – so economists can’t hust shrug this one off. Details on state-by-state job losses are lagged a week so we will not know if this is Shale Oil region-related but yesterday’s Beige Book and day after day of announced job cuts by the energy sector suggest it is..
This is the end of the Organization of the Petroleum Exporting Countries as we have known it, and it will keep the global oil market chaotic for some time.
the country is relatively open to fellow Antichrist Muslim nations, particularly during the Antichrist Haj season when pilgrims from across the world come to Antichrist Mecca and Medina. However, that is changing in changing times. It has also created a physical barrier along parts of the even longer, 1,000-mile border with Yemen to the south.
The Fifth Phase (2013-2016) This will be the point at which an Antichrist Islamic state, or Antichrist caliphate, can be declared. The plan is that by this time, between 2013 and 2016, Western influence in the Antichrist Islamic world will be so reduced and Israel weakened so much, that resistance will not be feared. Antichrist Al-Qaida hopes that by then the Antichrist Islamic state will be able to bring about a Antichrist new world order.
The Sixth Phase (2016-2020) Hussein believes that from 2016 onwards there will a period of “total confrontation.” As soon as the caliphate has been declared the “Antichrist Islamic army” it will instigate the “fight between the Antichrist believers and the non-believers” which has so often been predicted by Antichrist Osama bin Laden.
The Seventh Phase (2020-) This final stage is described as “definitive victory.” Hussein writes that in the terrorists’ eyes, because the rest of the world will be so beaten down by the “one-and-a-half billion Antichrist Muslims,” the caliphate will undoubtedly succeed. This phase should be completed by 2020, although the war shouldn’t last longer than two years.
^^^What NWO 666 power would result when Obozo ”IS” given A-Bomb to ride as The Beast? Are there any good examples? Hmmm, oh the days of wonder…
To paraphrase a trader who walked into the biggest FX clusterfuck in years, “it’s total, unprecedented market turmoil.” So while the world gets a grip on what today’s historic move by the SNB means, which judging by the record 13% collapse in the Swiss Stock Market shows clearly that the SNB market put is dead and the SNB may be the first central-banking hedge fund which just folded (we can’t wait to see what the SNB P&L losses on its EURCHF holdings will be), here is what has happened so far for anyone unlucky enough to be walking into the carnage some 2 hours late.
“As if millions of macro hedge funds suddenly cried out in terror and were suddenly silenced”
The resultant move across all currency pairs has seen the EUR and USD sliding, the USDJPY crashing, and US futures tumbling even as European stocks plunged only to kneejerk higher as markets are in clear turmoil and nobody knows just what is going on right now..
Over two decades ago, George Soros took on the Bank of England, and won. Less than two hours ago the Swiss National Bank took on virtually every single macro hedge fund, the vast majority of which were short the Swiss Franc and crushed them, when it announced, first, that it would go further into NIRP, pushing its interest rate on deposit balances even more negative from -0.25% to -0.75%, a move which in itself would have been unprecedented and, second, announcing that the 1.20 EURCHF floor it had instituted in September 2011, the day gold hit its all time nominal high, was no more.
What happened next was truly shock and awe as algo after algo saw their EURCHF 1.1999 stops hit, and moments thereafter the EURCHF pair crashed to less then 0.75, margining out virtually every single long EURCHF position, before finally rebounding to a level just above 1.00, which is where it was trading just before the SNB instituted the currency floor over three years ago.
Treasury yields, understanably plunged across the entire world, and the entire Swiss bond curve lest of the 10 Year is now negative, with the On The Run itself threatening to go negative soon. Crude and other commodities, except gold, are also tumbling, as are most risk assets over concerns what today’s epic margin call will mean when the closing bell arrives.
US hedge funds which are just waking up to the biggest FX shocked in years, and of course, any retail investors who may have been long the EURCHF, and who are not only facing epic margin calls, but are unable to cover their positions, and one after another retail FX brokerage has commenced “Rubling” the Swissy and as CHF pair as suddenly not available for trading.
To say that today will be interesting, is an understatement.
An immediate, and amusing, soundbite came from the CEO of Swatch Nick Hayek who said that “words fail me” at the SNB action: “Today’s SNB action is a tsunami for the export industry and for tourism, and finally for the entire country.”
The Big Pussy ”IS” Antichrist president Obozo wants to ”overturn” state ”laws” that ”restrict Obozo cities of Babylon” from building their own 666 Internet Image Of The Beast networks..
Ever here Obozo The POTUS Clown express concern over Fukushima Nuclear Contamination of The Pacific? Answer: HELL NO! No ”NEW WORLD EXECUTIVE ORDER”, the Antichrist Clown ”IS” a pandering power Whore Of Babylon.
FUK-U-SHIMA: Over 13 BILLION TIMES More Neutrons Was Released By The Fukushima Daiichi Plant Than Was Initially Estimated – “Obvious Implication For Human Health;” Government States That “Neutron Radiation Is The MOST SEVERE AND DANGEROUS Radiation” Known To Mankind; Can Travel Great Distances!.
In President Obozo ”IS” AF1 Big Pussy latest move using fascist executive authority, beyond every legal standard under The Constitution in this case, to tackle the ”climate change” lie, Antichrist White House officials on Wednesday announced plans to ”impose” their own new world order 666 regulations on the oil and gas industry’s emissions of methane, a powerful greenhouse gas. The administration’s goal ”IS” not relevant, what ”IS” an obvious threat ”IS” clear, Antichrist 666 Executive 911 Clown NWO Pussies.
AF#1 Big Pussy Obozo The 666 POTUS Clown Is Planning His Own New World Order Rules on Oil and Gas Industry’s Methane Emissions As A Fascist Emperor Claiming His Own Image Above The Regular Order Of The United States Constitution And The Lying ”(a)llah has no Son” bastard Antichrist muslim son ”IS” claiming his own image ”IS” greater and not equal
While this Antichrist NWO 666 Clown ”IS” pandering to the big cable companies provided retroactive immunity for spying on everyone on Earth and breaking the law with Executive NWO, do you think the pussy that ”IS” afraid to show in France will ever even mention stoping nuclear proliferation, like say in earthquake prone ”Iran”, much less anywhere on the planet by at least going to the U.N. podium, or while sitting as the Security Council Chairman of all the Nations and Israel, and earning his Nobel Prize by at least saying one word of warning about nuclear plants destroying things like 1/3 of the ocean on Earth? Answer: HELL NO!
Just keep on building Satanic Enochian Physics Nuclear Plant Time Bombs all over the Earth.
Dumb bastards that voted, even twice for this evil dipshit, it’s time for dusty asses to take a swim, like the Legion of swine. Morons, the Pacific is waiting to”change” Obozo Clowns to death.
MASS ANIMAL DIE-OFFS: “Mysterious Surge In Sick Marine Mammals All Along California Coast – Infested With Parasites, Extremely Emaciated; “Very Seriously Ill,… In Very Bad Shape; Experts Are EXTREMELY Concerned; Deaths Up 1,500 PERCENT At Rescue Facility; Numbers Mystifies Officials?!
ICE AGE NOW: Coldest Spell For Two Years – Britain Hit By Blizzards, THUNDERSNOW, Mini-Tornadoes And A Foot Of Snow As Motorists Face Perilous Driving Conditions; With 36 Hours Of Weather Woe On Its Way! [PHOTOS]
A new startup company, Cambrian Genomics, has enabled the average citizen to modify or create DNA, literally inventing new life forms. Cambrian, the brainchild of Austin Heinz, has found funding from a variety of venture capitalists, raising $10 million to expand the business. Currently, most of Cambrian’s orders come from pharmaceutical companies, but anyone with the money — not an enormous expense, only five to six cents per DNA letter — can design and print whatever their imagination wishes.