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EURUSD Tumbles To 1.06 Handle, Swissy Slides To USD Parity
When does the Euro become the Ruble?
This is the weakest for the Euro since April 2003...
And swissy is back at parity - *USD/CHF AT PARITY FOR FIRST TIME SINCE SNB REMOVED FRANC CAP
Year-to-date...
Charts: Bloomberg
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Um......you misspelled rubble.
It's a race to the bottom for all currencies. Jim Rogers was on RT telling everyone to buy gold because the dollar is fucked.
https://www.youtube.com/watch?v=ZCJBqxMlNNg
Tee heeeh
Armstrong calls for the euro to break 80?
Deflation then inflation.
I hope you suckers have a nie fixed rate home loan, or maybe refi into one which pays you to borrow money. Anything at a fixed rate would be great.
I just got a car loan at 3.99% fixed. I could have gotten a lower AR note, but the dealer threw in a ton of stuff and over the life of the loan its 800€ out of pocket (Yes for you smartie pants I just told you how much I paid) and I just shifted inflation risk to the bank & loaded up on AG and AU from the sale of my old car.
I think that will pay off well.
It always amazes me how ZH posters, who seem to have pretty good grip on things and abuses, still fall for the bait and take out any kind of loan which is not truly investment into productive things and don't even realize they are feeding the beast.
Its about opportunity cost.
In an inflation scenario where people are scrambling to get into theoritically non-depreciating fixed assets -- I believe AG and AU will outperform used cars materially. Thus, while I have the opportunity to get AG and AU while it is underperforming used cars, and hold until the USD finally follows the Reichsmark Rubicon -- it seems like a deal, when 4% p.A. is a small price to pay for a non-collateralized AG/AU loan.
In the 30's and early 40's Schindler did well plying the local Nazi authorities with hard to find alcohol among other nice to have things. One could do well in tampons today in Venezuela. Toilet paper is too bulky to keep under a trenchcoat, and venezuela is kinda hot.
Two points:
You may believe you are smarter than all or at least most others, but statistically speaking you'll likely find out one day someone was smarter than you and your strategy turns out to have been a martingale scheme. I prefer a little more humbleness for an investment strategy.
No matter if the above is true or not, you have effectively decided to join the psychopaths in their game. That is your freedom of choice, but remember that things will only get better when then majority consciously rejects such offers even if something would be in it for them.
I know. You *are* correct. TBF though, I am not running debt up sky high to make ends meet, but to acqurire AG and AU. The lending institution nor the government are the wiser, and its a great way to get into some cool toys/properties if the time presents itself.
Do as you please, your advisors are going to die just as you and I, it really doesn't matter, just look to the upper right of this page for divine guidance.
Or, at least, non depreciating assets/things, if not productive ones. In various collapse scenarios all sorts of productive assets in today's market could have no customers, or be encumbered by heavy handed government action or threats thereof, as happens when in tough times the hordes demand bold and persistent experimentation from their demagogues, and the demagogues give it to them good and hard. Take FDR and the depression he made Great. Please also take Obama, Warren, Hillary, Boehner, McConnel, McCain(for his emergency get-back-to-DC-to-exploit-this-crisis instincts in 08, among other telling signs of a big government demagogue)
You can always stop paying by relieving yourself of ownership, at whatever your breakeven point may be. Point well taken though. I paid cash for my car.
I paid cash for my previous car.
Do I want to do that again and "invest" $15k or so (I never ever ever ever ever ever ever ever buy new) in a depreciating asset, or acquire 10 oz + a CPO Lexus for 800€. Principal would get paid out either way.
A lot of folks went long on their house, car, boat...education using fixed rate debt. Unlike you, most are swimming naked (not much Au, Ag, or other trade goods counterbalancing the encumbered assets). Question is, what will a government do for the hordes of naked swimmers vs those few with bathing suits(food and housing and trade goods etc) when the tide goes out(inflationista scenario). The naked swimmers eyes will be focused on the clothed. It's a Venezuela Zimbabwe Argentina type of place to be. Democracy of the type the founders warned about sets in fast and lawlessly.
all currency fall right now against the usd
us go in a big defltion right now
but thinking usd will be the last one to standing, king dollar to the last moment
and when it goes, holy shit.
I assure you there is no deflation here in the US. Even electronics are stable. Food and fuel are moving up as always but everything else seems stable. Electronics would show deflation almost immediately.
"Tee heeh" is right. Long "Griswald European Vacation".
Long any foreign vacation, for that matter. Well, maybe not to MENA or Ukraine... but it's real cheap everywhere else.
London, Paris, Munich... talk about, pop music.
When does the dollar become the German Mark of 1923???
from born of federal reserve at 23 december 1913 year
ROFL
When it has better art work and only printed on one side.
If the SNB would just go back to a Nestle's chocolate bar backed currency...
currencies are moving like fucking penny stocks ...
Nothing to see here, move along.
True. I am used to crashes by now.
What, HFT Firms not allowed to make money too. You are a silicon racist.
/sarc in case you missed it
Brilliant comment, pragmatic hobo. Elucidating, compact, direct. It makes me suddenly realize that currencies ARE "penny stocks".
Things are just wonderful and Draghi has his magic money shovel ready to spread the sunshine and joy around even more......
... with plenty of megabankers already chanting "Q€ is doomed! Q€ will fail! They won't be able to do it all!!"
but in this financial world, the word and the apparent intent count "moar" then the act, thanks to the "power of discounting"
anyway, my late and lamented financial guru and mentor often told me that one day, the EUR, the USD and the CHF would align like planets of an eventful constellation
since this was usually after a few bottles of wine, I always put that as drunken silliness. instead of thinking that "in vino veritas" proper forecasting needs... fuel
and note, even the GBP is at a level that fits a certain bias!
Did he elaborate further on the "eventful" part?
well, what he anticipated is that one of the parties involved might call for a truce, and a multi-peg would be announced, at USD 1.00 - EUR 1.00 - CHF 1.00 - GBP 1.50
as a kind of last attempt to save the weakest of the bunch. but he postulated that two other things would have to happen, for this, and we aren't there. but who knows, the planets might align again
oh, please..
Putin needs to step down due to sex change operations and Kim Kardashian becomes first female PM of Iran
You're quickly becoming one of my favorite posters on this site.
This is what happens when the banks aren't there to manipulate...wait a minute
Conspiracy Fact: Photos show Israeli soldiers with Syria’s Al Qaeda “rebels” in Golan Heights
New Anonymous op as White House still ignores murder of American reporter Serena Shim in Turkey
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"Conspiracy Fact: Regulators caught Two major banking firms loaning out the same gold bars to 20 different customers."
euro monthly support didn't last long at 107.50
http://bullandbearmash.com/chart/euro-monthly-closes-eighth-straight-mon...
92.50 possible longer term target
For some perspective, take a look at the gold chart in Euros. The recent "smackdown" doesn't appear quite the same as does through a dollar lens. And then of course there are Hryvnias...
http://www.finanzen.net/rohstoffe/goldpreis/euro
When I checked, it was 14USD higher in Europe. So, there is a sale in the US.
The Dollar is way too expensive. Gonna kill what's left of American manufacturing.
Bullish for "Made in Germany".
Once Fed/IMF ditches the reserve currency thing, the US is allowed to go full on Japanesie
I don't see the dollar dropping much as long as we have strong deflationary pressures.
Those corporate cash stockpiles are looking smaller and smaller, paradoxically.
Big stockpiles that soon won't buy anything? Weird times for sure.
http://www.bloomberg.com/news/articles/2014-10-06/s-p-500-companies-spend-almost-all-profits-on-buybacks-payouts
95% of S&P500 profits invested in stock buybacks
Germany is really going to feel it on thier exports when the PIIGS start baling and they dont have an artificially low currency anymore.
Are you kidding ? Germany loves a low Euro to Dollar exchange. Exports are booming !
you call this a boom?
http://www.tradingeconomics.com/germany/exports
Make it rain, Mario, Make it rain!
I sense a disturbance in the force.
What is driving the collapse of euro? Is the market running from dragis qe bazooka?
S.O.R.O.S.
Get in while those treasury yields are still positive....
Being an Astronomy buff, I wanted to buy a German-made filter last week. I checked the price directly from the manufacturer in Germany and they wanted 215 euros for it. A distributor who had it in stock in California wanted 330 dollars for it. Then I realized the guy stocking them in Cali probably bought it and stocked it last year and added his vig. Went with direct from Germany cause the dude shipped three-day FedEx international for 10 dollars.
I'm sure this inventory assassination will play out on a larger scale through-out different industries.
A Baader CaK perhaps? I can't think of any other filter that expensive outside of a much more expensive Coronado HA. This does open up some possibilities for German made instruments though.
Bullish for Plattenbau in Jena.
It's really quite incredible considering just a few years ago it was more than 1.50. That's a 33% drop. Simply incredible. King Dollar -- the best currency in the Intensive Care Unit.
It's incredible, but then think that the dollar dropped 40% against the Euro in the first decade of this century.
Quite the roller coaster ride. Megaphone movements.
I just bought a battery tester on ebay for $3.77 Hong Kong with free shipping. How can anyone make anything and sell it so cheap and ship it airmail half way accross the planet? Som ting wong.
Absolutely. I have bought all kinds of electronic tools overseas, that I would have preferred to buy locally. But what can I do, when the fees for crossing the US border, or shipping 200 miles cost more than the entire purchase price from China, or Hong Kong?
Wait till you see how it works.
It has plastics which render you sterile so reducing the odds for Chinese battle groups
Germany's 4th reich...if US doesnt act soon, US manufacturing base will go the way of swiss' cheese haha
<-- 2 yrs ago I agreed with ZH to "Go Long Gold" (Au at $1700)
<-- 2 yrs ago I agreed with MSM to "Go Long USD"
Don't be a pansy fence-sitter. C'mon, fess up and be counted, no matter if you were right or wrong.
Long USD, but not because of MSM. If one believes in deflation, then one believes in the eventual scarcity of USD notes. Eventually, gold will win the day, but not until the dollar cleans up first. We'll see...
I still favour Euro and CHF swaps with Roubles to undercut the US Dollar and buy more growth. Forcing the US Dollar higher and trading oil in Euros would help generate growth outside the US