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Round and round the Currency Wheel of Fortune goes, and where it stops, nobody knows!
Official EUR Care Package?
http://seekingalpha.com/article/761181-official-eur-care-package
The Plot Thickens!
Geithner To Meet Schaeuble, Draghi In Germany Next Week
http://www.bloomberg.com/news/2012-07-27/geithner-to-meet-schaeuble-draghi-in-germany-next-week.html
Can I get an "amen"?
Stocks, euro fall as markets seek ECB detail
http://www.reuters.com/article/2012/07/27/us-markets-global-idUSBRE86F00620120727
NEWS FLASH! Mario Draghi sends early Christmas present to the throngs of investors who would like to short the Euro (EUO) but still wanted a more attractive entry point.
Stocks open higher as Draghi vows to support the euro zone
http://www.usatoday.com/money/markets/story/2012-07-26/stocks-thursday-7-26/56496678/1
Okay, that one day vacation was refreshing. Now, back to reality.
European shares, euro lower as earnings add to woes
http://in.reuters.com/article/2012/07/26/markets-global-idINDEE86P05Y20120726
NEWS FLASH! Euro Twit provides new entry opportunity for EUO!
Euro gains on comments from ECB official
Remarks by ECB’s Nowotny trigger modest short covering
http://www.marketwatch.com/story/dollar-drops-a-touch-from-2-year-highs-in-asia-2012-07-25
Et tu, Deutschland?
Germany Under Cloud From Euro Zone Woes
http://www.nytimes.com/2012/07/25/business/global/daily-euro-zone-watch.html
Moody’s changes outlook for Germany, Netherlands, Luxembourg to negative
http://www.businessday.co.za/Articles/Content.aspx?id=176947
If the outlook for the Euro gets much darker, they will need to issue flashlights to major holders.
Euro Vulnerable as Poor PMI Data Darkens Outlook
http://www.cnbc.com/id/48294129
Well, duuuhhh! (as the kids say)
Spanish troubles send euro, shares lower
http://www.reuters.com/article/2012/07/23/us-markets-global-idUSBRE86F00620120723
"Reviving"? Media hacks crack me up! LOL
Spanish Borrowing Costs Surge, Reviving Worries About Euro Zone
http://www.nytimes.com/2012/07/20/business/global/daily-euro-zone-watch.html
What? Investors are skeptical? Are you kidding me!
Spanish fears send euro lower, earnings lift stocks
http://www.reuters.com/article/2012/07/19/us-markets-global-idUSBRE86F00620120719
Fortnight:contraction of M.E. fourteniht, from O.E. feowertyne niht, lit. "fourteen nights," preserving the ancient Germanic custom of reckoning by nights, mentioned by Tacitus in "Germania" xi. Related: Fortnightly.
http://www.ftense.com/2012/07/nouriel-roubini-perfect-storm-coming.html
Oracles of the obvious are popping up all over!
The credibility of the rescue package for Spain has been called into question even before the loans have been disbursed,” Nicholas Spiro, director of London-based Spiro Sovereign Strategy, told CNN Money. Spiro added that even with its full firepower, the ESM is “woefully inadequate.”
Europe: Spain Squeezed By Eurozone Bailout Deal (EWP, VGK, EUO, FXE, EWG)
http://etfdailynews.com/2012/07/12/europe-spain-squeezed-by-eurozone-bailout-deal-ewp-vgk-euo-fxe-ewg/
Abracadabra!.....Abracadabra!.....Abracadabra!!!.....Abra-frickin'-cadabra!!!!!!
Trading On Europe's Empty Bag Of Tricks
http://seekingalpha.com/article/714761-trading-on-europe-s-empty-bag-of-tricks
Please note, there is no need to read between the lines. Just read the lines
(excerpt)
"In a concession to Spain that may hint at future leniency for Greece, the euro ministers gave Spanish Prime Minister Mariano Rajoy’s government an extra year, until 2014, to drive the budget deficit below the euro limit of 3 percent of gross domestic product.
Revised targets of 6.3 percent in 2012, 4.5 percent in 2013 and 2.8 percent in 2014 are “a challenging but achievable objective, but above all, it is a necessary objective,” EU Economic and Monetary Commissioner Olli Rehn said.
‘Flexible and Efficient’
Ireland responded by stepping up calls for what Finance Minister Michael Noonan called an “ambitious” renegotiation of the terms of its 67.5 billion-euro bailout. Juncker said tweaks to the program are conceivable by October.
Yesterday’s increase in Spanish and Italian borrowing costs relative to German levels nullified gains made in the wake of the June 29 euro summit commitment to intervene in bond markets “in a flexible and efficient manner"
http://www.businessweek.com/news/2012-07-09/eu-to-speed-spanish-bank-aid-aims-for-direct-recapitalization
Have those knucklehead Finns triggered the EURO DOOMSDAY MACHINE?
"threat of Jutta Urpilainen, Finland’s finance minister, to leave the euro rather than shoulder responsibility for other countries’ debts"
http://www.marketwatch.com/story/german-anti-euro-backlash-gathers-pace-2012-07-09?link=MW_story_popular
Enjoy this Willie Nelson standard as you contemplate the fate of the Euro.
Irene good night, Irene good night
Good night Irene, Good night Irene
I'll see you in my dreams.........
Just give them all government jobs. Everything should be fine.
Unemployment in Euro Zone Hits Record High
http://www.nytimes.com/2012/07/03/business/global/daily-euro-zone-watch.html
Official Notice: The EU has recently added an additional level to the Euro house of cards. You are advised to stand at least 200 feet from the base of this structure in order to avoid severe injury in the event of a collapse.(This notice purportedly provided by the collected works of Friedrich A Hayek and the Ludwig Von Mises Institute)
Euro Zone Sees Single Bank Supervisor
http://online.wsj.com/article/SB10001424052702304830704577494693764255190.html
Cover tomorrow on opening bell?
Glad I am flat here for now.
Cheers!
Hey EU! Our phony baloney, elitist twit, leaders need some major juice here! You had better listen up or we're going to make life a living hell for you guys! Just sayin'.
Sincerely,
Spain
Spain sends alarm signal to EU ahead of summit
http://www.reuters.com/article/2012/06/27/us-spain-economy-idUSBRE85Q0AU20120627
And now for something completely different. (NOT)
European officials release grand vision for euro
http://www.google.com/hostednews/ap/article/ALeqM5jcprBB90-oMOhcuSyRl-ygVhOMeg?docId=5df8159c74a54cf79de3d9f120816134
Seems legit.....
The Treasury has overshot its sales target in recent auctions, showing it still is capable of selling its debt even if has to rely on domestic banks to do so as international investors avoid Spanish debt.
http://www.cnbc.com/id/47958035
Forex Play of the Day from the "Perfessor"
ETFs to Watch June 25, 2012 (EZA, EWI, EUO)
http://www.benzinga.com/trading-ideas/long-ideas/12/06/2692366/etfs-to-watch-june-25-2012-eza-ewi-euo
WWF (EU DIVISION) PRESENTS:
********THE MERKELMEISTER VS THE BANK BREAKER********
IN A CHAMPIONSHIP MATCH FOR ALL THE EUROPEAN MARBLES.
Germany’s Resistance May Prove ‘Fatal’ to Europe: George Soros
http://www.cnbc.com/id/47942781
Angela Merkel’s Dilemma: Is the Euro Worth It?
http://www.cnbc.com/id/47944133
Oh yeah, this is working.
Spain's Borrowing Costs Surge
http://online.wsj.com/article/SB10001424052702303836404577475771247421542.html
Environmental hazard statement: Smoke clearing, please watch for broken mirror glass.
JUNE 18, 2012 12:00 P.M.
The Euro-Crisis Sputters Along
(excerpt)
The Greek elections were the worst possible outcome for the euro, for financial stability, and perhaps even for German chancellor Angela Merkel. Mrs. Merkel was quoted as sternly informing the Greeks on the eve of Sunday’s election that there was no prospect of renegotiating the “deal” — severe public-spending cuts in return for loans from the European Union, a “haircut” of 75 percent imposed on those investors who had foolishly lent Athens money, and the fig leaf of a denial that these amounted to a default by Greece. On the face of it, her comments looked like a threat designed to drive the Greeks into the arms of the New Democracy party. But perhaps they were designed to be an irritant that would drive the Greeks into the arms of the anti-bailout far-left party Syriza.
http://www.nationalreview.com/articles/303081/euro-crisis-sputters-along-editors
Be careful what you wish for, you might receive it.
Markets Relief Fades at Greek Election Results
http://www.nytimes.com/2012/06/19/business/global/daily-euro-zone-watch.html?pagewanted=all
Now the ECB can print some serious money.
Election Results: Greece Is Still Doomed And So Is The Rest Of Europe (GREK, EWP, EUO, EWG, VGK, FXE)
(excerpt)
The situation in Europe (NYSEARCA:IEV) is very grim.
Greece is going to need bailouts for as far as the eye can see.
Spain is almost certainly going to need a huge bailout.
Italy is almost certainly going to need a huge bailout.
Ireland and Portugal look like they are going to need more money.
France (NYSEARCA:EWQ) is increasingly looking vulnerable, and Francois Hollande appears to have no real solutions up his sleeve.
http://etfdailynews.com/2012/06/17/election-results-greece-is-still-doomed-and-so-is-the-rest-of-europe-grek-ewp-euo-ewg-vgk-fxe/
Apparently the proof readers are out celebrating Father's Day.(cut and pasted verbatim from International Business Times.)
"Fore play of the day: ProShares UltraShort Euro (NYSE: EUO)"
http://www.ibtimes.com/articles/353141/20120617/etfs-to-watch-june-18-2012-bnd-euo-grek.htm
Going short over the weekend with EUO!
Call me crazy....Stop loss set.
Can anyone say QE?(European Style)
Spanish Banks’ Net ECB Loans Jump To Record 288 Billion Euros
http://www.bloomberg.com/news/2012-06-14/spanish-banks-net-ecb-loans-jump-to-record-288-billion-euros.html
And why not? Perhaps they can make a "silk purse" with them.
Euro edges up vs dollar, investors pare bearish bets
http://www.reuters.com/article/2012/06/13/us-markets-forex-idUSBRE83Q0O120120613
http://idioms.thefreedictionary.com/You+can't+make+a+silk+purse+out+of+a+sow's+ear
When Southern Europeans get nervous,
they go to the beach and drink wine, hoping the pension payments continue at least until they reach 60 years of age. After 60, the spouse is less likely to demand that they go find work.
Don't worry, be happy!
This stuff must make Italy very nervous.
Spanish bond yields hit euro-era high
http://www.ft.com/cms/s/0/26aabbcc-b49b-11e1-bb2e-00144feabdc0.html#axzz1xat3jbWh
“Insanity is doing the same thing, over and over again, but expecting different results.”
? Albert Einstein
Same thing, same results in Spain: James Saft
http://www.reuters.com/article/2012/06/12/us-column-markets-saft-idUSBRE85B0LO20120612
Acceleration: "Increase in the rate or speed of something"
Zerohedge: Buy. Real. Assets. NOW! (GLD, SLV, AGQ, USO, DBC)
(excerpt)
In the case of Posen’s most recent statement, it’s most likely that such a heretical buying spree to shave further value off the world’s major fiat currencies will be conducted globally. It appears, too, central banks are also coordinating preparatory language for the collective grand announcement—the bazooka.
Other hints of desperate measures forthcoming comes from the EU, according to Reuters. Capital flight akin to the 1970s in Europe is expected to escalate, mostly out of the PIIGS banks, this time, and into Swiss banks, again, where monetary policymakers there have recently stated their undying resolve to prevent a spike up in the franc during the capital flight out of the PIIGS banks.
Moreover, to limit destabilizing capital movements, free movement (of human bodies) across EU member states, afforded Europeans by way of the Schengen Agreement of 1985, may be coming to an end, as memories of the 1997 Asian currency crisis saw money from SE Asia and Indonesia flooding over the boarders in suitcases into the Switzerland of Asia, Singapore. Instead of Europeans moving unrestricted from country to country as Americans move from state to state, inspections of passport stamps and bulky suitcases will most likely reemerge, suddenly.
EU SOURCES HAVE DISCUSSED IMPOSING CAPITAL CONTROLS AS WORST CASE SCENARIO IF GREECE LEAVES EUROZONE – RTRS
IMPOSING BORDER CHECKS, LIMITING ATM WITHDRAWALS ALSO PART OF WORST-CASE SCENARIO PLANNING – EU SOURCES – RTRS
SUSPENSION OF SCHENGEN ALSO DISCUSSED
The easy answer to the question would be
evident if we knew the outcome of the Greek election!
No matter how they vote within the week, Greece is history, no pun intended. If one could hold EUO for the long term (bad idea due to the eroding synthetic positions inherent in this ETF), I would rather buy the EURO spike on any good Greek news!!!
It will always fade deeply, in my humble opinion. And then there is Spain and Italy in the debt waste basket.
They ain't byin' it! Someone call the G7 Super Heroes back!
Spain's Bailout Boost Quickly Turns to Rout
http://online.wsj.com/article/SB10001424052702303768104577460442153217320.html
Should we be buyers on the dips between now and the Greek elections? Inquiring minds want to know
4th UPDATE: Asian Shares, Euro Climb on Spanish Bank Bailout
http://online.wsj.com/article/BT-CO-20120611-703236.html
After my TBT trade, I will be back
into EUO for the crash. After that YCS will FINALLY be the place to make a fortune.
The jig is up, boys! They're calling in the G7 Super Heroes. The euro is will be saved and everyone will live happily ever after! O frabjous day! Callooh! Callay!
Euro Falls On Speculation Debt Crisis Will Worsen; Aussie Gains
(excerpts)
Finance ministers and central bank governors from the Group of Seven hold a call today to discuss the debt crisis
G-7 members are “concerned about the unstable situation in the current global economy and we need to share these concerns,” Japan’s Finance Minister Jun Azumi told reporters in Tokyo. Canadian Finance Minister Jim Flaherty said yesterday in Ottawa that officials would discuss “the situation in Europe,” without elaborating
http://www.bloomberg.com/news/2012-06-05/euro-falls-on-speculation-debt-crisis-will-worsen-aussie-gains.html
He told "Russia Today" the "west" is tipping,
and it is clear to me his Keynesian Socialism does not work. If it did, Europe would be solvent due to all the pump priming over the last 25 years. It is not, and John Maynard was wrong on the government stimulus. Growth goes not work in the Long Run when the invisible hand is handcuffed.
My case-in-chief:
http://www.bloomberg.com/news/2012-06-04/japan-s-debt-sustains-a-deflationary-depression.html
Paul "Krazy" Krugman, apparently now realizing his "Korrupt" Keynesian economic theory is once again exposed for the fraud it has always been, attempts to weasel out of any personal blame for the inevitable outcome, so as not to tarnish his laughable Nobel "Klown" Prize in economics. If "Kooky" Krugman is talking Doom and Gloom, it may be time to batten down the hatches.
Nobel Laureate Says Globe Headed For Financial “Breakdown” and “Radicalism” (EWG, FXE, VGK, EUO, VWO)
http://etfdailynews.com/2012/06/01/nobel-laureate-says-globe-headed-for-financial-breakdown-and-radicalism-ewg-fxe-vgk-euo-vwo/
Here is the EUO problem for now:
http://www.cnbc.com/id/47643643
Note the "banking union" comment!
Time to play it safe this weekend!
In my humble opinion, of course.
Europe is close to counter crisis with a plan to prevent bank runs.
I will buy EUO again when the Euro/USD hits above $1.30
This movie is just getting started. YCS is looking interesting too-finally.
Sell EUO on GREXIT:
http://finance.yahoo.com/blogs/breakout/greek-exit-lead-massive-euro-reversal-najarian-163841381.html;_ylt=AndpZWhmDTlLnPpG1.hnrLiiuYdG;_ylu=X3oDMTQzYTE5NW42BG1pdANGaW5hbmNlIEZQIEp1bWJvdHJvbiBMaXRlBHBrZwMwODBlODQxOS0xYTM1LTMzNjEtODhiYS01Yjg5OTM1YjhkMTIEcG9zAzEEc2VjA2p1bWJvdHJvbgR2ZXIDNDNkMGNlODAtYWI0MC0xMWUxLWJmOWYtNDI4MWQ5MjQ0MWM2;_ylg=X3oDMTFpNzk0NjhtBGludGwDdXMEbGFuZwNlbi11cwRwc3RhaWQDBHBzdGNhdANob21lBHB0A3NlY3Rpb25z;_ylv=3
The Euro could go back to $1.30 overnight on the exit of Greece fron the Euro zone.
Something to think about in protecting your EUO gains!
Get Out! So that's why all those people are standing in line at the "PIIGS" banks!
Central Banker Sees Structure of Euro Zone as ‘Unsustainable’
http://www.nytimes.com/2012/06/01/business/global/greek-banks-regain-access-to-european-central-bank-loans.html
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