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Yentervention?! Is that what you wish for the holidays?
I see the ¥ going 1:1 with the Rupee!
Berlusconi , who has always had his own version of reality, is not going to accept the fact that he has personally destroyed the Italian economy with his grandiosity
blablabla "singlehandedly" & "destroyed"
Bossi and Berlusconi are now repeating the same procrastination show as Merkel and Sarkozy
even if the gov would fall - nothing new for Italians, used to have 7 govs a year in the past: President Napolitano (who is a fierce post-communist pro-european constitutionalist) would appoint Berlusconi for ad-interim with a technical cabinet stuffed with pro-europeans, i.e. without the Lega Nord...
So you mean that nothing is new in the world...
- as in "xtending the retirement age by a few hours is not credible reform..."
- and then we can conclude that mankind does NOT evolve, and that technology and robotization does not make for better lives for human beings, but rather only for the small elite who owns the machones, the banks, the politicans and the "security"-military and spy agencies apparatus?
IF - these facts are the case - then what do we do?
Care only about ourselves, become all bohemian hedonists - or - revolve...?
France and Germany have both soon elections
it's simply not time for reforms
politicians are usually not afraid of making mistakes - see exibit A: war
politicians are usually very afraid of being blamed for a mistake before elections
British media are scared of Burli mans media empire.....UK calling out Italy on debt....look who is talking
Collapse: a word to be repeated with increasing frequency as the Great Unwind continues.
Call the f----- Pope for the world bank plan. Any money left at the Vatican after paying out the children?
And the EUR is up on this?
Yup. The selloff just ended. That was it. Back to vapor volume melt-up.
Instead of just saying its bizarre that the EUR is going up on such news, we don't we try to understand why?
I'm becoming convinced that all these political issues in Europe are actually what is keeping the currency up relatively high in a crisis. If there was more US-style relative political functionality they might have the agreement to throw the money printers at the problem by now and then you'd have your EUR collapsing against everythning.
It may be possible in light of this that European political deadlock means that the Euro will outperform everything but unmanipulated risk-off currencies as the currency union falls apart.
I know this seems counter-intuitive, but does anyone see where I'm coming from?
I think someone is printing dollars, buying Euros, and giving them to European banks to keep the lights on. All on the up and up.
'I think someone is printing dollars'
Yes who could that be now?
Not a bad theory. Would fit with the idea that the TPTB who can control the monetary system (those in the US unlike those in the EZ) are actively working to help the market, help banks and help debase their own currency -- all of which seem to have been their key financial policy priorities over the last couple of years.
Ultimately this won't help the big German export companies controlling the governing coalition though. German and US financial war, bitchez!
currency and trade wars have been discussed at length on ZH and yes they are getting hotter by the day. Duh. Got physical?
You all seem to assume that there's a binary world of owning either USD or physical PMs. The point I am trying to make is that there are factors at play which might help other assets (like the EUR) as much as or more in terms of USD than PMs.
If there's an uneven currency war going on in which the US can debase and the EZ can't, I'd prefer to hold my CHF and EUR, not buy PMs with them -- please don't always assume that everyone is stuck only in USD.
I believe you are right
"market manipulation", IMHO, is to keep the Dollar stronger for a while - nearly all here assume the other way round
I get the distinct impression that several MegaBanks are "banking" on EURUSD at 1.30 by the end of the year and have lots of bets on it
a lot of partecipants to the comments seem to forget that for some 300 million Europeans the EUR is the unit of accounting
I prefer CHF/PMs/EUR
Yep, someone in the EU picked up the Red Bennie Phone they keep in the bottom desk drawer and asked for help....
Yes I thought something similar to you, however in the last week or so TD has proposed that EUR strength is a function of insolvent Euro banks selling USD assets and repatriation of assets to EUR. However in theory if the Euro clowns can't organize a money printing operation then it would outperform the USD. Whether that is what is actually happening or driving the markets right now I haven't got a clue!
Yes, presumably to raise the capital that Merkozy want them to raise. But if the repatriation of US assets by European banks was affecting EURUSD, then surely it would also have affected the US assets they were selling. Raising capital implies selling risk assets under Basel rules, doesn't it? Given what's been happening on the USD risk markets recently, I can't see what would be the corollary effect of EURUSD going up because European banks are repatriating risking USD assets into EUR cash.
You make a good point.
The US would print willy nilly to keep the party going, and as long as there isnt hyperinflation and American Idol is on the masses will continue to circulate the USD as the medium of exchange and implicitly accept it as a store of value, all while bitching about rising prices.
The EUR may strengthen now simply because its undergoing deflation, but the problem is that the EZ has reached the debt event horizon where there isnt enough real growth to service the interest on the existing debt pile.
The ECB must monetize or some external party must play the white knight, else there would not be much of an EZ bank system left when the unwind occurs.
The sovereigns can no longer backstop the banks.
Perhaps they will find a way to call mulligan and it'll all be roses and unicorns but i doubt it.
you are implying that we live on a planet where sovereigns cannot default
this goes against all lessons from history: that eventually all sovereigns default, either straight or by monetization/inflation
the EZ ist trying hard to find a way to get Greece to default straight - and the banking system is trying to stop them
The FT does anyone still believe rumors from the FT ?
"...how long before The Guardian refutes all FT speculation that Italy is scuttled with a well-timed rumor at 3:45pm?"
Well, since it's now 10:30am, I would say about 5 hours and 15 minutes? Just a guess.
LOL - this week is shaping up to be even better than the crap-show that was this last weekend's summit. Good stuff.
Berlusconi should make merkel into one of his sex slave
I think it'll be the other way around. Italy absolutely needs Germany.
Merkel has already made Berlusconi into one of her scapegoats.
The new phrase is ScapePIGS.
No Merkel and the German public have been the sex slave of Europe for far too long already (by paying and insuring the future of this whole Europe experiment). Angie should use a strap-on and give it to greece and Berlusconi....without lubrication!
LET IT BURN BITCHEZ
End of quarter...must stay positive
Oh....that's why the machines are ramping the EUR/USD; it all makes perfect fucking sense! Go HFT's, because if you keep it up you will ruin even Benny's plans.
Who's to say the Central Banks don't have control over a significant number of HFT algos? That there isn't a coordinated effort to control world markets through massive HFT manipulation?
Isn't that why there has never been a government investigation of any HFT trading since it was first implemented? Because financial regulators don't have the "tools" to investigate HFT's? No regulator can hire a few math PhDs?
dear Uncle Sam
don't get the propaganda to your head - ok, ok, "End the Fed", I'm fine with it but
the Central Banks are helpless without other goons doing the dirty work first
no Central Bank can, for example, just inflate like mad without the affiliated Treasury first printing bonds like there is no tomorrow.
and no Treasury can print big bonds volumes without having a gov deficit first
and no deficit money is wasted unless you buy a lot of crap like weapons and other idiotic things with it - hell, even just giving it to the citizens for free would not have a complete negative effect
and no Central Bank "controls the HFT algos", they are in the hands of the MegaBanks
Where is Central Bank idiocy? really low interest rates (ECB) and incredibly low interest rates (FED)
Up 2400% on my nflx 100 put, risked 2400$ on 10 contracts; profit of 24k.
Your a star:)
Don't just be up on the paper trade: lock it in.
Put in a order for 6 100oz silver bars just now.
Awesome. What's your home address again?
I don't like paper, but it's nice to see some people accumulate real capital by doing what you are doing.
100 ounce bars are too big; get 10 ounce or less sized pieces (100 ounce bars are less liquid at small time local dealers; and are also worth counterfeiting).
Very Nice Work!
Strange this blackswan of an FT roumour doesn't cause markets to tank....
If I said it once, I will say it a thousand times, Silvios problem is that his squeezes were young, good looking and paid for. Unlike our home grown bunga bunga bubba:)
I just hope that those finance ministers have a degree in finance and know how to use a calculator.
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