Posts Tagged ‘Euro’

Euro plunges as France downgrade rumor emerges

Friday, May 14th, 2010

Full story here from ZeroHedge. Gads, now the French are getting the boot. OK, here’s some fun French-bashing (you know you want it!). More euro-news here, there and everywhere. And Angela Merkel is Frau Blucher.

The country that Zero Hedge has long claimed is the glossed over black sheep that will take down the core of the eurozone is about to be downgraded. At least that’s the case according to the latest flurry of market rumors. EURUSD now moving 10 pips with each trading block… and not higher. Look for support somewhere in the mid 1.23s.

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Selling out Germany

Thursday, May 13th, 2010

Two articles, here and here. And my tribute to the Euro here.

Excerpt from the first one: (more…)

Rumors fly on Germany abandoning the Euro

Wednesday, May 12th, 2010

Full story here. Wow, Phase 2 is moving along briskly.

A web page of precious metals prices provider Kitco.com has sparked rumors that Germany will leave the Eurozone and reintroduce German Marks, sending gold to a new record of $1,244 and silver to a multi-year high of $19.64.
It is this half-ready page shown below that has created excitement as it lists precious metals in Deutschmark units.

German website Silber.de had another market-sparkling comment from a forum participant who said goldprice.org has reintroduced a DEM option since about a week. Check it out here.

And there is still more material feeding the rumour. German leftist politician Gregor Gysi announced on TV that there may be an important announcement  to be made on Friday.

Before you purchase any trading system or EMini education, or get involved trading futures, make sure you attend Shadowtraders Monday Night Webinar, and hosted by Barbara Cohen

And chicks for free?

Tuesday, May 11th, 2010

Full tongue-in-cheek verbal whipping here from James Kunstler.

The European Union came up with a trillion dollar bail-out for itself at the dawn’s early light. Plus, each member gets a Latvian prostitute, gratis. The Germans will love this. It already goosed the Euro back above $1.30 — just when they hoped a lower Euro would help them move a few more export goods off the shelves. I expect that Mrs Merkel is already catching an earful. A few hours earlier, her coalition of Christian Democrats and free Democrats got their joint ass kicked in a North Rhine – Westphalia local election…. (more…)

Dead man walking…the Euro is finished

Thursday, May 6th, 2010

Full story here from ZeroHedge. For those Euro-bears I offer you this little piece of music.

One of the incidents that I remember from my youth was the first time I saw a chicken slaughtered and running around headless for quite a few minutes before it keeled over and died. The euro is at that stage. Its life is finished, but it will be around for some time before it becomes a subject of historical analysis. Actually the euro was always a short term solution, even on the day it was born. There were only two possible outcomes: the euro would blow up, or it would lead to an EU with taxing and borrowing authority.   (more…)

Euro breaks $1.30, BIS steps in to prevent rout

Tuesday, May 4th, 2010

Full story here from ZeroHedge. Listen to commentary here (among many other things) that Europe could be in the final leg of a breakdown this week. And the Swiss-based BIS acting like the PPT over here. Is immitation the sincerest form of flattery?

The EURUSD broke through 1.3000 to 1.2996 and the BIS (yes, that BIS) immediately stepped up its buying to prevent a full blown rout of the Euro, or so the rumor goes. Check to you, Viceroy of the West Indies Bernanke. We have the QE2 press release all, pardon the pun, queued up, for your approval.

The only thing that may save the Euro is a collapse of the US

Thursday, March 25th, 2010

Full story here from ZeroHedge.

For once, some actually good insight from a CNBC guest. Philip Manduca, Head of Investment of the ECU Group, discusses Greece and the very severe implications of what the final outcome will look like. “Trichet said the Greeks are crooks, and they’ve been lying about the numbers. There is a deeply embedded corruption within the Eurozone. Combined with the endemic European socialism and there is just no way you are going to get spending cuts and tax raises and maintain a GDP that makes any sense of the percentage aspect of debt to GDP. So the whole show is wrong. This is an intractable situation, this is going to continue on and on. The onle hope for the Eurozone, and the Euro as a currency, is that sameone takes the spotlight soon, and that may be the United States.” Watch the rest as Philip’s perspective is spot on…Not to mention that he sees gold as the only alternative to the fiat bonfire soon to engulf the western world.

Financial firms receiving widespread subpoenas–euro-shorting collusion

Monday, March 1st, 2010

Full rumor here from ZeroHedge. Oh, for the day we can watch banksters get slapped around like some tart in a Marcello Mastroianni movie: “You stupid beeeetch!!!”

“As of last night, a variety of financial firms have received subpoenas seeking information on collusion to short the euro. We are currently pursuing more information and will post once we get it. Certainly sovereign CDS traders can not be far behind (especially those who traded with a less than bullish bias over the past month) from the wrath of the Greek, Spanish and British secret services, and now – various US legal and criminal administrations, which are currently convinced that it is just speculators who are at fault for 15 years of fraudulent eurozone budgetary presentations and countless bond offerings based on fake financials,  finally coming to the fore. Seriously, sell anything, and you will soon be facing the business end not of misdemeanor, but real-deal felony charges, and possibly with sprinkles of treason to boot.”

Bonuses for Wall St. and unemployment for the rest

Friday, February 26th, 2010

Full story here from The International Forecaster.

People should not underestimate the rational of those in high places because their agenda may be totally different then what they say it is. That includes the predicament of Dubai and Greece and a host of other nations that include the US and UK. The credit crisis, borne of the subprime crisis just didn’t happen; it was planned that way. Are we supposed to believe that the Fed took interest rates close to zero and that they flooded the monetary system with money and credit, because they were incompetent or stupid, hardly? The Fed, banking and Wall Street knew subprime loans were not AAA, but triple BBB. They all knew the syndication of these bonds were a fraud, which they allowed and which kicked off the credit crisis. Again, all is not as it seems to be. Thus, those of you who believe it was greed and incompetence are wrong. Up until four years ago it was Sir Alan Greenspan who sold his soul out to the Illuminists, now it is Ben Bernanke. (more…)

Southern Europe debt crisis, on the brink of a new recession

Wednesday, February 10th, 2010

More fun from MarketOracle. Of course, we have attention on So. Europe and not England which, despite not being on the Euro, is up around 60% debt-to-GDP. Mind you, Greece is only some 3% of total EU GDP, with a 16% debt-to-GDP. If this one country can break your system, it’s not much of a system.

“The euro is the focus of attention these days. This is because of a fiscal crisis in Greece, and looming crises in Portugal and Spain. Italy could follow.

What is the problem? Greece is running a huge deficit in the range of 12.7% of its Gross Domestic Product. The investment world regards a deficit of this magnitude as unsustainable. There are rumors of default.

Spain is running a deficit of 11.4% of its GDP. This is considered a threat to the nation’s financial structure. There are rumors of default. (more…)