Relax everyone, disaster averted. The bankers have our backs.

SpacePete

SpacePete

Well-Known Member
Silver Stacker
Central banks have got this

If there is one thing that was clear amidst Friday market's turmoil, it was that the Pound stopped falling and the Yen stopped rising around the time Bank of Japan governor Kuroda said that the globe's largest central banks would work together to do their utmost to backstop markets with liquidity and as a result, ensure stability.

This comment was followed up hours later by Bank of England Governor Mark Carney and his colleagues at the ECB and other central banks.

Those comments and actions mean central banks have got the market covered according to Andrew Benito, senior European economist at Goldman Sachs. Benito wrote in a note Friday in the aftermath of Britain's decision that: "Our view was that Governor Carney would activate swap lines agreed with other major central banks, including the Fed and ECB. In his statement, Governor Carney indicated that the BoE can provide substantial liquidity in foreign currency "if needed".

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http://www.businessinsider.com.au/goldman-sachs-central-banks-have-got-this-2016-6
Click to expand...
 
Was it ever in doubt? :p

That was the game. Try and scare the cr@p out of voters with the threat of financial armageddon....and then if they vote leave anyway just ride in on the white horse and save the day with more market interventions.
 
Plunge protection team to prop up the stocks. Exchange Stabilization Fund to prop up currencies and make a profit.

Wall St and London trading tonight will tell us if they can stop the rot..

The British pound may well have dropped 10% but it rose that amount leading up to the vote.

Interesting week ahead.

Regards Errol 43
 
yeah, they have our backs with a gun pointed. we don't have eyes at our back
 
It is not over to the Fat Lady sings. The music is still playing for financial chairs.

Wall St Dow Jones down 250 points.

Regards Errol 43
 
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