I’m absolutely crying; I’ve never seen a currency rally so much on news that a central bank has started to print money (call it whatever you want, it’s printing money).
The euro is skyrocketing on promises it will be devalued because Italy and Greece have switched captains of the sinking ships.
I don’t care who’s in charge. You could have made Captain fucking Kirk head of the Titanic after it hit that iceberg. That fucker was going down, Trekis be damned.
The euro rallying on news that the ECB is buying tens of billions in Italian debt (which implies buying hundreds of billions in Italian debt) is about the equivalent of bidding a country’s debt into a negative yield, in the bond world.
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money management, stop losses be damned… next stop insolvent
(laughter) just know when to throw in the towel.
oh I forgot to mention I am long a boat load of ERY… italian bonds at 6.4% is a good thing???
Bullshit, Kirk would’ve bluffed the Iceberg gods with the “I’ll call the self destruct codes if you don’t stop filling my holds with water” ploy.
And you knew this had to end badly for the dollar. Don’t fight the Fed, Fred.
___________
Why does it have to end badly for the dollar? Our currency levels are being held stable and our companies are flush with cash.
Meanwhile, the biggest combined economy in the world is teetering and needs to print.
“The market can stay irrational longer than you can stay solvent.”
John Maynard Keynes
THANK YOU…I couldn’t remember for the life of me who said that quote.
austrian bank strikes deal with pboc. cain,euro up is a rouse, pay no attention to todays action. key euro players just may dump euro and trade in rmb. they may peg to yuan. no wonder china is stock piling the shiney stuff.
Just wait until they actually announce that they are going to devalue their currency. Euro should rally to all time highs off such news, judging by the logic we are seeing in the current market.
Indeud. I am changing my forecast, in light of such truth.
Euro to 3.
For your consideration: http://www.economist.com/blogs/freeexchange/2011/11/understanding-euro-crisis?fsrc=rss&%3Ffsrc%3D=scn/tw/eecon/sf/freeex
great opportunity to get short errrrrrrrrrr today …thanks no volume BS rally
Thanks Cain, I read this blog as a contrarian indicator for what to invest in. Are you still short MGM and oil?
LOL…
Prick.
Thanks FIG. You’re a useless fuck nut and don’t have a blog to read.
I’ve been wrong for four weeks. Where were you in August, or September.
Oh, probably cowering in the shadows, desperate for the rally to save you.
But no dick, I covered MGM for a loss. Only oil remains.
I have never posted on Ibankcoin before but would like to point out FIG is an A..H… Have been playing BG for the past several months since you brought it to my attention and using the stock/options/stochastics sucesfully as it really does look like limited risk/great reward………thanks for the blog
Thanks Toby, glad to help