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World money system imploding right now ?
An unwind is taking form right now, this minute, (9:10PM ET) that may or may not be contained by international Central Bank action.
Even if central Europe does not financially implode the world money system today, it is just around the corner. There are so many risks threatening us now that survival of any monetary status quo is doubtful. Protect yourself. It has hit the fan, right now, and all that is thanks to OTC derivative manufacturers and distributors. http://www.jsmineset.com |
Does this mean no joins?
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that would be scary.
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so one can eat ass or eat grass.
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Someone, apparently someone in Asia, wants dollars. A LOT of dollars. There is a forced-liquidation event underway that is massive, it is against all asset classes and it is spreading.
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I've been following this all night too. Eastern Europe is about to explode and take Western Europe with it. Last year Bernanke (illegally) opened swap lines with all these other central banks around the world (they pull out dollars automatically as needed) and that means if Europe goes down we go down too in the US.
Everyone is waiting for the European markets to open to see if the Euro continues to crash or if this crisis is contained for today (it will hit us). Seriously, pull out some cash people. We could be seeing forced bank holidays soon which means you will, if the banks are closed, be stuck with limited debit card withdrawals only soon. |
do you have a url? There is nothing on bloomberg about it so far.
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At http://uk.finance.yahoo.com/ it shows FTSE is down around 1.5%, nothing too dramatic. Do you have a link to the unwind?...wait, isn't WANTING dollars good for the US (and world) economy? We're supposed to be preventing the dollar form being DUMPED, ne?
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is it on a real news source?
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I sat here and watched the Euro, and most other major currencies, go nearly straight down to the dollar tonight. Europe is on the brink of going tits up. We will see in a few hours if this have this contained or not. This week is going to be scary. |
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WoW what a mess !
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http://www.blackvaginafinder.com/coo...paulmooney.gif |
it happened to iceland, i don't see why it couldn't happen to hungary, they've been in a shit storm financially for awhile now.
then it could easily domino through eu |
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Can someone explain this in laymans terms for financial simpletons such as myself? Primarily what it means to us. =)
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Sky still falling?
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The question is: how fast? |
Oh noes world collapse! Financial Melt downs! Catastrophy, Anarchy! Hide your children!
If you live like me all this shit is just another day in the park... |
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Does this explain why gold rallied this morning?
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The good news is things have settled down. There was clearly some sort of government intervention behind the scenes. The bad news is there has been no rebound after the intervention which is normally the case. These are the currencies that got hit hard last night: CZK PLN HUF NZD AUD SEK CAD NOK INR EUR BRL |
Revolution time?
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------ Rising European interest rates have pushed the euro up nearly 35 percent against the dollar over the past three years, to a high of $1.60. But a growing number of experts believe the economies of Europe will slump even further than the U.S., forcing the European Central Bank to reverse this month's interest-rate increase. The euro will slip about 6.5 percent to $1.50 by year-end and then slide further to $1.45 by the middle of next year, according to the median of 37 currency analysts surveyed by Bloomberg News. Gross, co-CEO of Pacific Investment Management Co. (Pimco), has turned bearish on the euro for the first time since the common European currency was created in 1999. Pimco runs the world's largest bond fund. "We might have hit a point where the euro doesn't have a lot to stand on," Emanuele Ravano, co-head of European strategy for Pimco, tells Bloomberg. "The euro is ultimately very overvalued. It could be quite a bit lower at some point over the next couple years." Indeed, based on purchasing power parity, the euro is 30 percent overvalued against the dollar, according to the bond fund. Purchasing power parity means that $1 would buy the same amount of goods and services in the U.S. as its rate in euros would buy in Europe. "When a currency gets between 25 and 30 percent overvalued, it tends" to revert to the mean, Ravano says. He says a euro drop to $1.5350 is in order. The Economist's Big Mac Index, which measures purchasing power parity for the purchase of the McDonald's signature hamburger, points to the euro being 22 percent overvalued against the dollar. As for economic growth, the 15 countries sharing the euro will produce an expansion of 1.4 percent next year, down from 1.7 percent in 2008, according to the median forecast of a Bloomberg survey. The median U.S. estimate shows growth accelerating to 1.8 percent in 2009 from 1.5 percent this year. French President Nicolas Sarkozy already has complained that the euro's strength is hurting European exports and could restrain economic growth. Exports from Germany, the continent's largest economy, plunged 3.2 percent in May, the most in four years. "We're not far off the capitulation point for the euro," says Mitul Kotecha, head of foreign exchange research in London for the investment-banking unit of Credit Agricole. He predicts the euro will drop to $1.52 by Sept. 30, and $1.45 by next April. Falling European interest rates will drive the euro lower, experts say. The median forecast in a Bloomberg survey of economists suggests that the ECB will cut its key rate by 25 basis points to 4 percent by the middle of next year. http://moneynews.newsmax.com/streett...17/113727.html |
anything happen?
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Dow down 270
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Eric, Ice, can we still post hot chick pics on GFY when the whole world falls to shit ?
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1 eur = 1.25648 usd
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