Saudi 'Plunge Protection Team' Rescues Stocks As Riyal Devaluation Bets Surge | Zero Hedge
Description: As the FX markets came to life last night after a tense weekend in the middle east, it is clear that anxiety about the Saudi Riyal is at the forefront. Forward bets on devaluation/depegging surged most in 7 months as shares in bin-Talal's Kingdom Holdings continued their slide to the lowest since Dec 2011.
Keywords: Zero Hedge,Zerohedge,Finance,Economics,Markets,Politics,Analysis,Middle East
Date: 2013-01-07T00:00:00Z

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# Saudi 'Plunge Protection Team' Rescues Stocks As Riyal Devaluation Bets Surge

by Tyler Durden
Nov 6, 2017 8:23 AM
0
SHARES

As the FX markets came to life last night after a tense weekend in the middle east, it is clear that anxiety about the Saudi Riyal is at the forefront.

Forward bets on devaluation/depegging surged most in 7 months as shares in bin-Talal's Kingdom Holdings continued their slide to the lowest since Dec 2011.

The round-up risks overwhelming local and foreign investors struggling to get their heads around the rapid changes shaking the kingdom, but for the second day in a row, any selling was met by instant panic-buying as we suggest Saudi's very own Plunge Protection Team stepped in...

- Middle East

- Printer-friendly version
- Nov 6, 2017 8:23 AM
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silverer Nov 6, 2017 8:27 AM

Advice from the US "magnificent twelve", I suppose.

Theta_Burn silverer Nov 6, 2017 8:31 AM

Amazing how these arrogant inbreds have managed to fuck up the greatest blessing of nat resourses ever enjoyed by a nation.

DeadFred Theta_Burn Nov 6, 2017 8:40 AM

Welcome to the natural state of humanity. Sometimes it can be avoided but most times this is the course that events take.

skbull44 DeadFred Nov 6, 2017 8:59 AM

If ‘Plunge Protection Teams’ can intervene with every little correction and central banks can print money from thin air at will, is there any value at all in tracking markets?

https://olduvai.ca

0valueleft skbull44 Nov 6, 2017 9:24 AM

Just leave a c-clamp on your nuts, and give it a 1/4 turn everytime reason and logic tells you to go short. Spare yourself the pain.

Bastiat 0valueleft Nov 6, 2017 11:16 AM

At a glance I thought the headline said "Purge Protection Team."

hedgeless_horseman Theta_Burn Nov 6, 2017 8:41 AM

Saudi PPT?

I am Simon Potter's complete lack of anonymity.

GlassHouse101 silverer Nov 6, 2017 8:32 AM

I can't decide who hold the US balls in their hands more, Saudi Arabia, or China.

Bloody Fkn Muppet GlassHouse101 Nov 6, 2017 8:41 AM

One each.

Justin Case GlassHouse101 Nov 6, 2017 9:00 AM

China is the current threat to the empire. China is deversified and have the largest labor force on earth. Saudi's import everything other than oil. They are a usless race, without any skills. They buy everything they need. Oil is their life blood. They didn't even pay the 50,000 foreign workers there and they have no money to leave that shit hole. They hire Nannies and keep them locked up, sexually abuse them, Some have escaped to tell their story.

Snout the First Justin Case Nov 6, 2017 9:07 AM

I worked in KSA several years. Justin is spot on with what he wrote about the Saudis.

BandGap Justin Case Nov 6, 2017 9:35 AM

And they need the cover of the US. They will be chopped to pieces by the Iran/Russia duo if left to their own devices.

Certainly times they are a changing. As far as the curtain being pulled back, KSA has the biggest swamp of all on a relative scale.

nmewn Nov 6, 2017 8:28 AM

Dontcha just love "free market" palace intrigue?! ;-)

DeadFred nmewn Nov 6, 2017 8:43 AM

Those sudden moments when you decide to sell everything all at once are just normal market behavior. I learned this by watching gold and silver charts.

HenryHall Nov 6, 2017 8:32 AM

Kingdoms that live by the sword shall die by the sword.

totenkopf88 HenryHall Nov 6, 2017 8:35 AM

If you live in the US you better hope that adage does not apply

totenkopf88 Nov 6, 2017 8:33 AM

How do we know it's not the Fed?

buzzsaw99 Nov 6, 2017 8:34 AM

that reminds me, i need to hedge my riyal based portfolio with some options and derivative put call swap thingies over at goldman sachs. /s

never bet against intervention by anyone.

Bloody Fkn Muppet Nov 6, 2017 8:44 AM

That 'surge' in riyal devaluation bets looks like a blip. I wonder if the author judges his penis the same way?

RawPawg Nov 6, 2017 8:57 AM

a lose-lose

spending money to lose more money...eventually

stop digging,cut bait,walk away from the table,etc,etc

Davidduke2000 Nov 6, 2017 9:22 AM

why would anybody play the market in countries that use plunge protection team, which is illegal .

DjangoCat Nov 6, 2017 9:29 AM

So who is winning in Saudi Arabia? Is this good or bad for the deep state? How is the US involved?

Arnold DjangoCat Nov 6, 2017 9:56 AM

Shoeshine says it is the Chinks.

JibjeResearch Nov 6, 2017 10:18 AM

I'm ready for a population control shows...

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