Dec 05

gold teaser

- An Inside Look At The Shocking Role Of Gold In The “New Normal” (ZeroHedge, Dec 5, 2014):

You thought gold was “only” for wealth preservation? You ain’t seen nothing yet.

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Nov 23

 – Summing It All Up In 1 Surreal Chart (ZeroHedge):

Because, as financial media keeps propagandizing, it’s all about the fundamentals…

QE3-Stocks-World-GDP

Charts: Bloomberg

- Veteran S&P Futures Trader: “I Am 100% Confident That Central Banks Are Buying S&P Futures” (ZeroHedge):

“This last 1900 point Dow Jones push upwards – and the Ebola events leading into it – it was so orchestrated and heightened at critical points but the ascent and push straight up in price, and sideways nonreaction after was completely unlike anything I’ve seen before.   After going up for a record-breaking amount of time the last five or so years, in a nonlinear exponential mania type of ascent, there should normally be tremendous volatility that follows… After this year and especially this last 1900 point Dow run up in October, and post non-reaction, that I am 100 percent confident that that one buyer is our own Federal Reserve or other central banks with a goal to “stimulate” our economy by directly buying stock index futures.”

American Epidemic? NYPD cop shoots dead unarmed man ‘without warning':

- Sell, Sell, Sell…….The Central Bank Madmen Are Raging (David Stockman’s Contra Corner):

The global financial system has come unglued. Everywhere the real world evidence points to cooling growth, faltering investment, slowing trade, vast excess industrial capacity, peak private debt, public fiscal exhaustion, currency wars, intensified politico-military conflict and an unprecedented disconnect between debt-saturated real economies and irrationally exuberant financial markets.

Yet overnight two central banks promised what amounts to more monetary heroin and, presto, the S&P 500 index jerked up to 2070. That is, the robo-traders inflated the PE multiple for S&P’s basket of US-based global companies to a nose bleed 20X their reported LTM earnings.

- “Down Outright Murder”: A Complete Guide to the Shooting of Michael Brown by Darren Wilson (The Intercept)

Keep-calm-and-molest-kids

- In Great Britain, Protecting Pedophile Politicians is a Matter of “National Security” (Liberty Blitzkrieg):

I’ve long written about how the percentage of sociopaths within a group of humans becomes increasingly concentrated the higher you climb within the positions of power in a society, with it being most chronic amongst those who crave political power (see: Humanity is Rising).

Now we have evidence of yet another case.

The Guardian reports that:

The security services are facing questions over the cover-up of a Westminster paedophile ring as it emerged that files relating to official requests for media blackouts in the early 1980s were destroyed.

Two newspaper executives have told the Observer that their publications were issued with D-notices – warnings not to publish intelligence that might damage national security – when they sought to report on allegations of a powerful group of men engaging in child sex abuse in 1984. One executive said he had been accosted in his office by 15 uniformed and two non-uniformed police over a dossier on Westminster paedophiles passed to him by the former Labour cabinet minister Barbara Castle.

Ah, national security. Remember that the next time you are lectured that we need to give up our civil liberties in the name of “national security.” Think about what that really means. It really means the security of the status quo to continue to behave like insane criminals with zero accountability.

- Contrary To IRS Lies, Some 30,000 Lois Lerner “Forever Lost” Emails Have Been Recovered (ZeroHedge):

It is unclear whether the person in charge of the Lois Lerner “disappeared IRS emails” strategy was also Dr. Gruber, but whoever conceived of the idiotic idea that the fatal failure of a local hard disk means that emails which are stored on at least one server miles away, and subsequently downloaded via POP3, IMAP or some other protocol, have vaporized, clearly also relied on the stupidity (and laziness) of the American people. And like in the case of Obamacare, the lies worked, if only for a short period of time. And because when it comes to lies coming from the very top, there is never just one cockroach, and they always inevitably scatter, the latest headache for a scandal-ridden president is that Lois Lerner’s email, supposedly gone in perpetuity, have mysteriously reappeared, and as the Washington Examiner reports, “up to 30,000 missing emails sent by former Internal Revenue Service official Lois Lerner have been recovered by the IRS inspector general, five months after they were deemed lost forever.”

Utah-NSA-Shutdown

- The Plebs Are Revolting – Utah Bill to Shut Off Water to the NSA Moves Forward (Liberty Blitzkrieg):

In the wake of the failure of the U.S. Senate to move forward on the USA Freedom Act, many activists and civil liberties advocates have come to the conclusion that we can’t rely on the feds to do anything decent on the subject. One of the proposed grassroots ways to fight back has been an emphasis on increased use of encryption (recall my pre-Snowden era post, Bitcoin and Kim Dotcom: Why it’s Time to “Encrypt Everything”). Another obvious solution is for people to revolt at the local level. It appears that the citizens of Utah are doing just that.

Wired reports that:

Lawmakers are considering a bill that would shut off the water spigot to the massive data center operated by the National Security Agency in Bluffdale, Utah.

- 3-Star General Who Helped Lead War On Terror: We’ve Lost the Wars In Iraq and Afghanistan (Washington’s Blog):

3-star General Daniel Bolger helped to lead the wars in Iraq and Afghanistan.

The first sentence of his new book – Why We Lost: A General’s Inside Account of the Iraq and Afghanistan Wars – starts:

I am a United Sates Army general, and I lost the Global War on Terrorism. It’s like Alcoholics Anonymous; step one is admitting you have a problem. Well, I have a problem. So do my peers. And thanks to our problem, now all of America has a problem, to wit: two lost campaigns and a war gone awry.

Yahoo News notes:

Having studied military history, he says he should have known that a U.S.-led counterinsurgency in a country like Afghanistan could never work.

Now, with the rise of the Islamic State, there’s a growing choir urging the U.S. military to lead yet another ground war in Iraq.

“That would be four times biting that poison apple: Vietnam, Afghanistan, Iraq and then Iraq again,” he said.

- With A Hard-Landing Imminent, China Reminds Residents It Is Illegal To Jump Off Tops Of Buildings (ZeroHedge):

“The situation has become so bad… that a middle-aged investor, fearing that a local developer wouldn’t be able to make his promised interest payments, threatened to commit suicide in dramatic fashion last summer. After hearing similar stories of desperation, city officials reminded residents that it is illegal to jump off the tops of buildings.”

- Obama’s Path To ‘Amnesty’ (In 1 Cartoon) (ZeroHedge):

Obama-amnesty-plan

- This Is How Russia Does The (Dry) Ice Bucket Challenge (ZeroHedge):

As The West shows its fortitude (and apparent philanthropy) with mere 32-degree Fahrenheit ice-bucket-challenges, Russian chemistry professor Yury Zhdanov goes 290-degrees better…

This Is How Russia Does The (Dry) Ice Bucket Challenge

Nikolay Novosyolov, founder of a science popularization project, poured a bucket of liquid nitrogen, which temperature was minus 322 degrees Fahrenheit (minus 197 Celcuis), as part of the #IceBucketChallenge campaign, taking the world’s social media charity craze to a whole new level.

Crazy…

 

- Western sanctions are aimed at regime change in Russia – Lavrov (RT):

The ultimate goal of the anti-Russian sanctions imposed by some Western nations is to stir public protests and oust the government, Russian Foreign Minister Sergey Lavrov said.

“Western leaders publicly state that the sanctions must hurt [Russia’s] economy and stir up public protests. The West doesn’t want to change Russia’s policies. They want a regime change. Practically nobody denies that,” he told a leading think-tank in Moscow.

Lavrov said that the tensions between Russia and the West had been brewing for years before the Ukrainian crisis, adding that now the Europeans had decided to go for all-or-nothing and play chicken with Russia. But at least the positions have been made clear, Lavrov said.

- Police pepper sprays protest in Germany as activists storm new EU central bank HQ (PHOTOS, VIDEO) (RT):

German police used pepper spray and clashed with anti-EU protesters, who stormed and vandalized the new European Central Bank building, which is under construction now in central Frankfurt.

Calling themselves Blockupy, thousands of activists gathered in the city center on Saturday and marched to the goal of their protest, the new ECB office, which is to be inaugurated next March.

The cost of the new office is almost 1.3 billion euros and this fact has caused a lot of criticism while the policy of austerity is applied all over Europe.

“While our colleagues, friends and comrades in Southern Europe continue to rebel against the depletion and impoverishment policies of the Troika, the ECB moves into its new palace,” Blockupy website says. “Blockupy moves on to the road. We will make our own move to the new building and give back to the ECB the garbage – in and with many moving boxes – that should have been thrown into the dustbin of history: racist and sexist division, impoverishment, privatization of public funds and goods and wars to secure resources.”

- On The Looming Wall Of Chinese Defaults, Restructuring Firm Warns “You Know It’s Coming” (ZeroHedge):

The news this week of China’s largest corporate bankruptcy - Haixin Iron & Steel Group – amid crashing iron ore and steel prices was followed by analysts noting it “will be followed by others,” as the major flaw of producers of iron ore, the most traded commodity after oil, is they tend to be “over-bullish.” Distressed debt funds are starting to circle in preparation for what they expect to be a bloodbath as Bloomberg reports, bad debts in China are well underestimated because authorities persist in propping up weak companies and bailing out local investors, according to DAC Management, “we’ve yet to see it because if you look at corporate defaults, they keep getting covered by the government. At some point, they can’t cover every single one.” Most worryingly though, as KPMG points out, “when you see restructuring advisers getting hired by SOEs… you know it’s coming.”

- When the Rustlers Wear Badges (Lew Rockwell)

- Five seniors die in Georgia care center after receiving flu shot – report (Natural News):

Healthcare workers at Hope Assisted Living & Memory Care Center in Dacula, Georgia, whose identities have not been made known as of this writing, have informed Health Impact News that on November 7, 2014, five residents of the center received flu vaccinations, only to die one week later.

- Video – Mexico’s Colima Volcano Erupts (Ice Age Now)

- 24 Pictures That Perfectly Capture How Insane The Snow Is Near Buffalo, New York (BuzzFeed)

- Now the UK is set to feel the chill (Ice Age Now):

Winter to arrive with below-freezing icy blast,

reads the headline in The Telegraph.

Temperatures will drop to 19F (-4C) in some areas of the country next week as winter arrives.

Temperatures on Sunday night are expected to plummet to 26F (-3C) in rural areas of Northern Scotland and there may be snow showers on the mountains and widespread frost.

The cooler temperatures will continue on Monday, with overnight temperatures in the North down to 30F (-1C).

http://www.telegraph.co.uk/topics/weather/11246224/Winter-to-arrive-with-below-freezing-icy-blast.html

- “Serfdom is the New Normal” – Talkin’ Oligarch Blues with Perpetual Assets (Liberty Blitzkrieg):

“Oligarchs like protecting themselves from peasants…”

– Gus Demos of Perpetual Assets

Because nothing says “living The American Dream” like looting an abandoned Doritos truck in the middle of a Buffalo, NY snow storm…

CNN-Hong-Kong

Once a market leader among Western 24-hour news channels, CNN has now become infamous for its slipshod mislabeling of maps across the world. This week the network hit a new low, transforming a synagogue into a mosque.

- Could SUNSCREEN stop men having children? Chemicals that block UV rays ‘may impair male fertility’ (Daily Mail):

Slapping on sunscreen could reduce a man’s ability to have a baby, according to new research.

A study found that chemicals commonly found in sunscreen, which filter out UV rays, can impair male fertility.

Experts warned when these chemicals are absorbed by the skin, they can interfere with the body’s hormones.

Men exposed to specific chemicals called BP-2 or 4OH-BP had a 30 per cent reduction in fertility.

- Are You Better Off This Thanksgiving Than You Were Last Thanksgiving? (Economic Collapse):

Are you in better shape financially than you were last Thanksgiving?  If so, you should consider yourself to be very fortunate because most Americans are not.  As you chow down on turkey, stuffing and cranberry sauce this Thursday, please remember that there are millions of Americans that simply cannot afford to eat such a meal.  According to a shocking new report that was just released by the National Center on Family Homelessness, the number of homeless children in the U.S. has reached a new all-time high of 2.5 million.  And right now one out of every seven Americans rely on food banks to put food on the table.  Yes, life is very good at the moment for Americans at the top end of the income spectrum.  The stock market has been soaring and sales of homes worth at last a million dollars are up 16 percent so far this year.  But most Americans live in a very different world.  The percentage of Americans that are employed is about the same as it was during the depths of the last recession, the quality of our jobs continues to go down, the rate of homeownership in America has fallen for seven years in a row, and the cost of living is rising much faster than paychecks are.  As a result, the middle class is smaller this Thanksgiving than it was last Thanksgiving, and most Americans have seen their standards of living go down over the past year.

In 2014, there are tens of millions of Americans that are anonymously leading lives of quiet desperation.  They are desperately trying to hold on even though things just keep getting worse.  For example, just consider the plight of 49-year-old Darrell Eberhardt.  Once upon a time, his job in a Chevy factory paid him $18.50 an hour, but now he only makes $10.50 an hour and he knows that he probably would not be able to make as much in a new job if he decided to leave…

LooTeRS!!!

Looters
Source

 

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Nov 18

- “Godfather” Of Abenomics Admits Japanese Policy “Is A Ponzi Game… Taxpayers May Revolt” (ZeroHedge, Nov 17, 2014):

Koichi Hamada is a special adviser to prime minister Shinzo Abe and one of his closest confidants. That makes his comments, as The Telegraph reports, even more stunningly concerning. Focusing his attention on the fact that Japan must delay the 2nd stage of its planned consumption tax hike – for fear of derailing the ‘recovery’ - Hamada unwittingly, it seems, explains the terrible reality behind the so-called “godfather” of Abenomics’ perspective on the extreme monetary policy he has unleashed…

Select stunning quotes that everyone should ignore and just BTFPonziD in Japan… Continue reading »

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Nov 18

- Abenomics Officially Leads Japan Into A Triple-Dip Recession – Weather Blamed; Nikkei Drops 600 Points, Back Below 17,000 (ZeroHedge, Nov 17, 2014):

AMARI: ABENOMICS HASN’T FAILED (so this was the expected outcome?)
SUGA: INVENTORIES, WEATHER, CONSUMER MINDSET CAUSED GDP FALL (nothing to do with record-high misery-index induced by crushing the currency of an energy-import-dependent nation?)

Japanese GDP fell for the 2nd quarter in a row making it official – as we warned a month ago – that Japan has entered a triple-dip recession. Againstr hope-strewn expectations that the rebound from a sales-tax-driven slump would create a magical 2.2% (annualized) expansion, Japanese GDP slumped 1.6% in Q3 – missing by the most since March 2011. So no tax increase… and thus fiscal responsibility goes out the window. Abe dissolves government and bails on another failure? The initial kneejerk reaction sent USDJPY surging back over 117.00 (and NKY followed) but that has quickly reversed and NKY futures are 600 off their highs (and S&P futures are back to last Monday’s lows).

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Nov 12

From the article:

“Yet, our political-financial system has gone from the dysfunctional to the failed to the surreal. Speculation, once left to individuals and investors, is now federally sponsored, subsidized and institutionalized.  When this sham finally buckles and the next shoe falls and rates do eventually rise, the stock market will tank, liquidity will die, and the broader economy will plunge into a worse Depression than before. We are not there yet because of these coordinated moves and the political force behind them. But we are on a precarious path to that inevitability. “


- QE isn’t dying, it’s morphing (Nomi Prins, Nov 10, 2014):

A funny thing happened on the way to the ‘end’ of the multi-trillion dollar bond buying program known as QE – the Fed chronicles. Aside from the shift to a globalization of QE via the European Central Bank (ECB) and Bank of Japan (BOJ) as I wrote about earlier, what lingers in the air of “post-taper” time is an absence of absence. For QE is not over. Instead, in the United States, the process has simply morphed from being predominantly executed by the Federal Reserve (Fed) to being executed by its major private bank members. Fed Chair, Janet Yellen, has failed to point this out in any of her speeches about the labor force, inflation, or inequality. Continue reading »

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Nov 10

- Interviewing John Hussman: “The Market Is Overvalued By 100%” (PeakProsperity, Nov 8, 2014):

John Hussman is highly respected for his prodigious use of data and adherence to what it tells him about the state of the financial markets. His regular weekly market commentary is widely regarded as one of the best-researched, best-articulated publications available to money managers.

John’s public appearances are rare, so we’re especially grateful he made time to speak with us yesterday about the precarious state in which he sees global markets. Based on historical norms and averages, he calculates that the ZIRP and QE policies of the Fed and other world central banks have led to an overvaluation in the stock market where prices are 2 times higher than they should be: Continue reading »

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Nov 10

Federal-Reserve-Bernanke1

In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. … This is the shabby secret of the welfare statists’ tirades against gold. Deficit spending is simply a scheme for the confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists’ antagonism toward the gold standard.”
– Alan Greenspan

By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose.”
– John Maynard Keynes Continue reading »

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Nov 07

federal-reserve-quantitative-easing-printing-money

- Federal Reserve Counterfeiting Approaches 100% (ZeroHedge, Nov 6, 2014)

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Nov 05

kuroda_0

“Japan’s Debt Market Could Crash In Ways That Make The Collapse Of Lehman Look Like A Warm-up” (ZeroHedge, Nov 4, 2014):

While it is remarkable that the same media organization that a week ago was fawning over the rotting carcass of Keynes’ disastrous economic legacy, can today issue a warning that “Japan Creates World’s Biggest Bond Bubble”, we have long since given up being surprised by things that make absolutely zero sense in the New Abnormal.

So here is William Pesek with a less than Keynesian view on why Banzainomics’ very own Kuroda-san will be regarded as either a genius or a madman in a decade. Spoiler alert: it won’t be “genius.” Continue reading »

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Nov 05

SUICIDE-GUN


- It’s Currency War! – And Japan Has Fired The First Shot (Economic Collapse, Nov 3, 2014):

This is the big problem with fiat currency – eventually the temptation to print more of it when you are in a jam becomes too powerful to resist.  In a surprise move on Friday, the Bank of Japan dramatically increased the size of the quantitative easing program that it has been conducting.  This sent Japanese stocks soaring and the Japanese yen plunging.  The yen had already fallen by about 11 percent against the dollar over the last year before this announcement, and news of the BOJ’s surprise move caused the yen to collapse to a seven year low.  Essentially what the Bank of Japan has done is declare a currency war.  And as you will see below, in every currency war there are winners and there are losers.  Let’s just hope that global financial markets do not get shredded in the crossfire. Continue reading »

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Nov 04

kuroda_0

- Japan’s Monetary Pearl Harbor  (Of  Two Minds, Nov 2, 2014):

Trying to “fix” a sclerotic, inefficient state-cartel economy by boosting inflation–the ultimate goal of Japan’s Monetary Pearl Harbor– is a self-liquidating path to destruction.

The Bank of Japan’s surprise expansion of financial stimulus strikes me as the monetary equivalent of Pearl Harbor –not in the sense of launching a pre-emptive war (though the move does raise the odds of a global currency war), but in the sense of a leadership pursuing a Grand Strategy to the point of self-destruction because they have no alternative within their intellectual and political framework.

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Nov 04

- Signs and Wonders (Kunstler, Nov 3, 2014):

“Holy smokes,” Janet Yellen must have barked last week when Japan stepped up to plug the liquidity hole left by the US Federal Reserve’s final taper trot to the zero finish line of Quantitative Easing 3. The gallant samurai Haruhiko Kuroda of Japan’s central bank announced that his grateful nation had accepted the gift of inflation from the generous American people, which will allow the island nation to fall on its wakizashi and exit the dream-world of industrial modernity it has struggled through for a scant 200 years. Continue reading »

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Nov 03

kuroda_0

- The Experiment that Will Blow Up the World (Acting Man, Oct 31, 2014):

The BoJ Goes Even Crazier

It has been clear for a while now that the lunatics are running the asylum in Japan, so perhaps one shouldn’t be too surprised by what happened overnight. Bloomberg informs us that Kuroda Jolts Markets With Assault on Deflation Mindset.

The policy hasn’t worked so far, in fact, it demonstrably hasn’t worked in Japan in a quarter of a century. Therefore, according to the Keynesian mindset, we need more of it. Mr. Kuroda therefore delivered a surprise spiking of the punchbowl that immediately impoverished Japan’s consumers further by causing a sharp decline in the yen: Continue reading »

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Nov 03

federal-reserve-quantitative-easing-printing-money

- NEWSFLASH: The Fed Isn’t Stopping QE! (ZEroHedge, Nov 2, 2014):

What has been expected for quite a while has now officially happened. The Federal Reserve stated that it would stop intervening on the market where it has been buying treasury bonds and mortgage-backed securities like there was no tomorrow anymore. The program started at a rate of $45B per month but was upscaled rather fast to $85B per month before being gradually scaled back since the beginning of this year. The Fed’s balance sheet has expanded considerably as you can see on the next chart.

Federal-Reserve-Balance-Sheet

Whereas the total balance sheet of the Fed was less than 1 trillion Dollars by the end of 2008, this has been increasing exponentially and in just the last 24 months the assets on the Fed’s balance sheet increased by 60% to 4.5 trillion dollars. Yellen has kept her promise as she said she’d scale the open-market purchases back if the economy would strengthen sooner than anticipated. Continue reading »

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Nov 03

- Ted Butler: The Silver Nightmare Will Be Over Soon (Peak Prosperity, Nov 1, 2014):

Halloween couldn’t have been more terrifying for silver investors. The gray metal cracked under $16/oz on Friday, a price not seen for nearly half a decade.

For years now, it has seemed like silver has been beaten down so badly its price couldn’t go lower. But then it has.

Why has silver seen such a gut-wrenching price decline? (now down 2/3 compared to its high in late 2011). And will it ever see brighter days again?

This weekend, Chris has a long discussion with silver expert Ted Butler on the real culprit behind the wild price slams that have plagued silver: unfairly concentrated positions within the derivatives market: Continue reading »

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Nov 02

- And, so it begins………….. (ZeroHedge, Nov 1, 2014):

doomsday_machine_ortho_by_unusualsuspex-d6x8mse

Courtesy of the StealthFlation Blog

By eviscerating the U.S. Bond market, they have completely destroyed the time value of money.  Thus, there no longer exists a viable and productive term deposit on savings.    Continue reading »

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Nov 01

- The BoJ Jumps The Monetary Shark – Now The Machines, Madmen And Morons Are Raging (David Stockman’s Contra Corner, Oct 31, 2014):

This is just plain sick. Hardly a day after the greatest central bank fraudster of all time, Maestro Greenspan, confessed that QE has not helped the main street economy and jobs, the lunatics at the BOJ flat-out jumped the monetary shark. Even then, the madman Kuroda pulled off his incendiary maneuver by a bare 5-4 vote. Apparently the dissenters – Messrs. Morimoto, Ishida, Sato and Kiuchi – are only semi-mad.

Never mind that the BOJ will now escalate its bond purchase rate to $750 billion per year – a figure so astonishingly large that it would amount to nearly $3 trillion per year if applied to a US scale GDP. And that comes on top of a central bank balance sheet which had previously exploded to nearly 50% of Japan’s national income or more than double the already mind-boggling US ratio of 25%. Continue reading »

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Nov 01

kuroda_0

- The Halloween Yen Massacre Sends Market To All-Time Highs (ZeroHedge, Oct 31, 2014)

Related info:

- What The BOJ’s Shocking Announcement Really Means: FULL MONETIZATON

- Shocking Bank Of Japan Trick And QE Boosting Treat Sends Futures To Record High – Nikkei Futures Halted Limit Up (+1100) As USDJPY Tops 112

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Nov 01

- Charting Banzainomics: What The BOJ’s Shocking Announcement Really Means (ZeroHedge, Oct 31, 2014):

Still confused what the BOJ’s shocking move was about, aside from pushing the US stock market to a new record high of course? This should explains it all: as the chart below show, as a result of the BOJ’s stated intention to buy 8 trillion to 12 trillion yen ($108 billion) of Japanese government bonds per month it means the BOJ will now soak up all of the 10 trillion yen in new bonds that the Ministry of Finance sells in the market each month.

In other words. The Bank of Japan’s expansion of record stimulus today may see it buy every new bond the government issues.

This is what full monetization looks like.

BOJ expansion chart

More from Bloomberg: Continue reading »

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Nov 01

The Japan stock market celebrates quantitative easing, also being called the nuclear option.


- Shocking Bank Of Japan Trick And QE Boosting Treat Sends Futures To Record High (ZeroHedge, Oct 31, 2014):

Two days ago, when QE ended and knowing that the market is vastly overstimating the likelihood of a full-blown ECB public debt QE, we tweeted the following: “It’s all up to the BOJ now.” Little did we know how right we would be just 48 hours later. Because as previously reported, the reason why this morning futures are about to surpass record highs is because while the rest of the world was sleeping, the BOJ shocked the world with a decision to boost QE, announcing it would monetize JPY80 trillion in JGBs, up from the JPY60-70 trillion currently and expand the universe of eligible for monetization securities. A decision which will forever be known in FX folklore as the great Halloween Yen-long massacre.


- Nikkei Futures Halted Limit Up (+1100) As USDJPY Tops 112 (ZeroHedge, Oct 31, 2014):

 Bwuahahahaha… Nikkei futures halted limit up – over 1100 points post-BoJ (+1400 post-FOMC) as USDJPY tops 112 (up 4 handles post-FOMC) to its highest since Jan 2008.

- Bank of Japan Reaction Context: Nikkei 225 Is Up 1000 Points In 7 Hours (ZeroHedge, Oct 31, 2014):

ou know the world’s financial markets have become farce when the broad Nikkei 225 stock market of Japan rises 1000 points in 7 hours… The meme that stock ‘markets’ move on fundamentals not central bank liquidity is officially dead. Let that sink in for a moment…

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