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Another Day Ending In -y, Another Rout For Goldman FX Clients
It's not even funny any more: "Trade Update: Last Monday we opened a short $/KRW trade on the back of the currency reform in China and consequent anticipation of CNY appreciation into the G20. In the event, while the $/CNY fix moved lower by 0.5% on the week, this was less than anticipated and the volatility of the $/CNY intraday trading generated uncertainty in the market. While the KRW initially appreciated on the news, less than anticipated CNY appreciation and risk off jitters associated with financial reform in the US ultimately caused $/KRW to trade above our stop leading to a potential loss of 2.2%. The KRW has underperformed the rest of the region since late August, however we continue to expect the currency to strengthen going forward and will look for further opportunities to take advantage of this view."
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http://www.thestate.com/2010/06/26/1351971/tar-like-substance-halts-swim...
Tar-like substance halts swimming in SC river
COLUMBIA, S.C. — South Carolina health officials have banned swimming in parts of a major river after regulators found a gooey, tar-like substance in river mud.
The State newspaper in Columbia reports that signs advising people not to swim in part of the Congaree River went up on Friday.
The state Department of Health and Environmental Control hasn't identified the material yet.
Agency spokesman Thom Berry says a man who had been swimming in the river told health officials about the substance.
DHEC posted signs near the Senate Street landing telling people not to swim or wade in that part of the river, which separates Richland and Lexington counties.
bah, probably some 'neck dumping motor oil down the storm drains again...
this substance has been preliminarily identified as coal tar from a local excavation. The Conagree is way inland. As in WAY inland.
This is not GoM related.
It`s just like TD wrote before: "GS clients bombed in daily basis".
Maybe clients should read Andrew Roberts, credit chief at RBS
"The Fed is soon going to have to the pull the lever on "monster" quantitative easing (QE)".
http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/785759...
What, only a 2.2% loss? The clients must've considered themselves lucky to have learned a lesson so cheap and exited when they could from Goldman's grasp.
Um......they did learn their lesson, didn't they?
Deep down inside we are all masochists.
I don't think so. I think deep down we are swimming with sharks and don't really understand this because the MSM, the myth keepers and even our fellow slaves all what to believe that the people running this country and the major corporations ARE NOT sociopaths.
Unfortunately they are. We are guilty of false hope mongering.
Not any longer.
Anyone for sac hunting?
The false hope mongering is simply changing. While more of us are awakening, until we stop falsely hoping someone else will come to our rescue and we take action on their own, there won't be much change other than we will be more aware as our necks are slit.
People usually won't act as if they have nothing left to lose until they have nothing left to lose. We're getting there, slowly, but we're not there yet.
they7 don't do too well in market they can't control
10 yr note trading at 3.06%
30 yr at 4.02%
Benny and Timmy are in deeeeep dooo-doooo. Get ready for some failed auctions soon, that will collapse everything.
Krugman just called for a 'long depression'.
"We are now, I fear, in the early stages of a third depression. It will probably look more like the Long Depression than the much more severe Great Depression. But the cost — to the world economy and, above all, to the millions of lives blighted by the absence of jobs — will nonetheless be immense."
http://www.nytimes.com/2010/06/28/opinion/28krugman.html
I might agree with him on something finally.
He may be right in his assessment of consequences but he is still a Keynesian asshole. He advocates much more government spending (and ensuing debt) to solve an unmanageable debt problem. Only the painful deleveraging of debt will ensure sustainable growth going forward. Otherwise, the debt problem grows and the resulting consequences will only be worse.
Krugman just being a pouty bitch because the government won't spend another couple Trillion dollars on worthless stimulus.
Note the comment.."governments are obsessing about inflation when the real threat is deflation, preaching the need for belt-tightening when the real problem is inadequate spending." What color is the sky in your world Mr. Krugman? Do Unicorns fly down and crap trillions of dollars for all to enjoy?
He also asks the question..."And who will pay the price for this triumph of orthodoxy? The answer is, tens of millions of unemployed workers, many of whom will go jobless for years, and some of whom will never work again."
He really should be asking the question about his own orthodoxy. Who will be paying the price of trillions of dollars in debt so that our government can remain bloated and some temp workers can hang on to their government jobs for a few more months? The answer is generations of US citizens that will all be born into indentured servitude so that the Baby Boomer generation can finish the last few years of their lives in comfort.
Don't all the days of the week end in "y?"
Do as GS does...
Peter D. Sutherland S.C., K.C.M.G:
CEO BP
CEO GS
Financial adviser to da Pope.
...not as GS says. And you will well financially.
ps What kind of CAPTCHA is this:
ten plus equals minus eleven
any idiot can figure that one out. How about something a little more changeling like:
What's the square root of 69?
[ 8 something]
Do as GS does...
Peter D. Sutherland S.C., K.C.M.G:
CEO BP
CEO GS
Financial adviser to da Pope.
...not as GS says. And you will well financially.
ps What kind of CAPTCHA is this:
ten plus equals minus eleven
any idiot can figure that one out. How about something a little more changeling like:
What's the square root of 69?
[ 8 something]
Do as GS does...
Peter D. Sutherland S.C., K.C.M.G:
CEO BP
CEO GS
Financial adviser to da Pope.
...not as GS says. And you will well financially.
ps What kind of CAPTCHA is this:
ten plus equals minus eleven
any idiot can figure that one out. How about something a little more changeling like:
What's the square root of 69?
[ 8 something]
Tyler I disagree. It gets funnier every time.
barry sortero will hit the internet kill switch just to shut down zerohedge.
The revolution will be BLOGGED