SWISSIE CAPITULATION!

Published January 18, 2015 | By RE

Off the microphone of RE

Aired on the Doomstead Diner on January 18, 2015

Discuss this article at the Podcast Table inside the Diner

Snippet:

…The folks worst hit here in the short term are the Forex traders who were short on Swissies, figuring they would stay pegged to the Euro as promised by the SNB. At least two of the currency trading firms blew up immediately after this, FXCM and Excel with losses in the $100s Millions, and somebody out there took that hit, although we don’t know precisely who that is yet. Client accounts are supposedly segregated out here, but anything caught up in the trading when this went down is now GONE. Precisely how much anyone with an account with these two firms will be able to get back out and when is an open question. No doubt quite a few folks will get Corzined on this one.

Meanwhile, over in Greece in a not entirely unrelated event, now all 4 of TBTF Greek Banks had to go to the Greek Central Bank for “Emergency Liquidity Assistance”, basically because there is an ongoing RUN of the Greek Banks and everyone with any CFS is trying to get their money OUT of them before they go Tits Up and convert everybody’s savings to New Drachmas, destined to be about IMMEDIATELY worth less than a roll of Charmin.

These banks, which Zero Hedge has reported as “systemic” have basically run OUT of collateral that even the ECB which accepts almost any stinking dogshit will accept for them to hand over a few more Euros. At first it was just 2 banks referred to as systemically important, without revealing which onesd they were. The obvious reason here that the identity of these banks is not being revealed is that would of course ACCELERATE and already ongoing diarreah attack they are undergoing and they would squirt out still more liquified Brown-25. This ploy however did not work, so now the run is on all of them. LOL…

For the rest, LISTEN TO THE RANT!!!

Prior related Rants you might enjoy!

Follow & Download the Diner Rants and Podcasts on the Doomstead Diner Soundcloud Channel!

Diner New Year Fundraising KICKOFF!

Jan Stenerud, GREATEST Placekicker of ALL TIME!

IF YOU ENJOY THE RANTS AND WOULD LIKE TO KEEP HEARING ME GO BALLISTIC ON THE INSANITY THAT MASQUERADES AS WORLD POLITICS AND ECONOMICS, TODAY WOULD BE A GOOD DAY TO MAKE A DONATION TO THE DOOMSTEAD DINER AND SUN PROJECT! HELP KEEP US SOLVENT AND BUILD A BETTER TOMORROW WITH YOUR EXCESS FRNS, SOON TO BE FUCKING WORTHLESS ANYHOW! SINGLE DONATIONS ONLY! WE HAVEN’T GOT THE RECURRING DONATIONS SYSTEM WORKING RIGHT YET!

Posted in Top 10 Econ | Tagged Bank of Japan, Bonds, Brussels, Bundesbank, Capitulation, Central Banks, Deflation, ECB, EU, Federal Reserve, PBoC, SNB

9 Responses to SWISSIE CAPITULATION!

Mister Roboto says:

January 18, 2015 at 3:40 am

It sure will be interesting to see what happens when Syriza wins the election next week in Greece. Go, Big Red!

https://www.youtube.com/watch?v=ONKNwtlaF44
Tim E. says:

January 18, 2015 at 8:03 am

INDEED – Mr. Roboto!

I lived in Greece in 1989 – it was a Third World overpopulated Tourist dependent Country then. The Greeks had stripped much of the land of trees, and the Seas were largely devoid of life. Athens dumped it’s raw sewage into the Agean Sea. Electricity was available on and off.

Pine Resin wine (Retsina) and Ouzo? UGH! You can keep that stuff to yourself! I much prefer the home made wines of Italy. (I lived in Monte Forte for a time)

Tax Cheats galore!

Somewhere on a hill overlooking The Port of Piraeus lies the wreck of my 1981 Datsun 280 Z.

GO BIG RED! LOL. Those who don’t know that you are from Socialist Hell Milwaukee might not understand the Irony.

I’m right down the Road from you – I-94 Exit 333 straight to Hwy 20 and 666. Racine, WI – proof that He – Double Toothpicks is set on Earth.

Alice Cooper! 😛

Wayne’s World (8/10) Movie CLIP – Alice’s History Lesson
Tim E. says:

January 18, 2015 at 8:11 am

And of course, our Host and Good Friend, RE worked for Schneider – which is located on I-94 BETWEEN Milwaukee and 666 Racine.

Just South of that is Kenosha – where the infamous Gremlins and Pacers were made!

Wayne’s World – and interestingly enough, I have a Blogger friend named Wayne who lives in the ghetto of Racine on Jones Street. No place for Old White Men to be. 😯

Bohemian Rhapsody

Wayne’s World – from the former Root River Siren!
RE says:

January 18, 2015 at 1:50 pm

Actually, the Schneider National HQ and Training Center is in Green Bay. The Racine facility is one of the main Terminals though.

While I drove for Schneider, I was dispatched out of the terminal in West Memphis, AR. I did spend many nights in Racine though. 😀

RE
Tim E. says:

January 18, 2015 at 3:53 pm

Those Crazy Russians! 😆

Russians mock the gas-dependence of Europe and Ukraine

One of my few experiences in Green Bay was installing a phone at a local packing (slaughter) house. I noticed that most of the Employees were Brown – as from Mexico. The Cows, which were standing in a line – seemed to realize that something was wrong – a pneumatic stainless steel spike was about to penetrate their skulls – from whence they would be hung up by their back legs on a conveyor belt by metal chains and be sliced and diced – with a chain pulling the entire hide off in a smooth move – with a river of blood and guts in a concrete canal below.

I have never been to Arkansas – but would like to go. At one point – in 2008, I applied to work at many of the fish farms there – but never received employment – I later learned that these fish farms had to advertise these jobs to prove that Americans weren’t willing to take them so they could hire illegal aliens from South of the Border.

RE Sez: I did spend many nights in Racine though.

Hopefully you are paying your child support! 😆 😆 Racine is the home of the Single Mother who can’t name her baby’s Daddy name! I knew one unwed Mother who had 6 children by 6 different men.

Stay warm RE – 😀 With the collapse in oil prices – the lights may just go out in Alaska.
RE says:

January 18, 2015 at 4:36 pm

No children I know of, in Racine or anywhere else I parked on the road. I’m taking my genetic code with me to the Great Beyond.

Far as lights in Alaska go, I think we will be one of the last to lose them, since most of the electricity is produced from NG, and there are copious local supplies.

As to warmth, these days it’s warmer here than in Racine! I’m about to go out on the porch to BBQ a Ribeye from a Mexican born and FSoA raised Elsie. Don’t even need a jacket on today.

RE
Tim E. says:

January 18, 2015 at 5:32 pm

Re Sez: copious local supplies of NG

As in, Brown 25, from uRANUS! Supplies of NG will be unlimited as your IG Tract turns Bovine muscle to Energy + NG. 😯 😯

Enjoy the Ribeye! 😀

*WOW* Alaska is at 30 degrees today! We’re at 36 degrees.

I’ll have a shot of J.Bavet in your honor! Toast my friend! 😀 😀
Louise says:

January 19, 2015 at 7:07 am

Gremlins and Pacers official cars of the anti destination league!!!!

Great Rant Re…. keep em cumming.
Louise says:

January 19, 2015 at 7:17 am

I hate spell check………..