Eurusd Trader
Junior member
- Messages
- 21
- Likes
- 3
We lock up rogue traders who lose a billion or two for their employers. That’s fine – we should continue doing that. But what do we do with incompetent politicians who because of their selfish interests or some stupid comments cause investors to lose a hundred billion or two? They only risk not being re-elected – which is like telling them they shouldn’t have been there in the first place.
In Greece we thought we had a new prime minister on Monday, another one on Tuesday and today they still haven’t got one. Are they screening every Greek for the job?
In Italy they haven’t even started. Well – i miei amici italiani – get your a.... moving – before it is too late.
For those who think that Italy is another Greece – sorry – take a breath because now we walk about trillions – not billions. Never heard the figure mentioned before? It starts with a “t” and it’s a thousand times more than a billion. We are talking big bucks.
I’m old in this market and I have seen how we made pasta out of Italian markets before. But then we didn’t have a Euro – we just slaughtered the currency they had. It was easy then. It takes a bit more today – but don’t think it can’t be done again.
What is going to happen to the ratification process of the 27 October agreement between EU and Greece now – subject to that Greece want it? Are the 17 countries standing by their word when suddenly Italy can be the next in line for bailout money? We have already passed that critical 7% yield when Greece, Portugal and Ireland all begged for help.
Or do we see countries now backing off because they see the possibilities of a financial collapse hitting their own banks and requiring thousands of Euros from each of their taxpayers to avoid their own banks collapsing? Do the 16 other parliaments then still want to help Greece?
To the Greeks I would say – sign that agreement quickly – before the others change their mind.
“I like the Law if it hadn’t been for Lawyers” is an old saying. “I like Democracy if it hadn’t been for politicians” should be another one.
But who should we listen to these days? The Queen (of England) said in the aftermath of the Lehman collapse: “Wasn’t there anyone who could see this?”
Where do the EU crises take us? It’s easy to see that we are into unfamiliar water. But is it too deep where we are?
Maybe we have to rethink the whole setup. In Europe we have enormous debt – the attention of everyone at moment. In Europe we also have enormous wealth – much more than what we owe.
Only reserves among European central banks are x times what European countries owe. Isn’t it about time that we release some of these funds for the purpose of reducing debt to a level we all can handle?
It’s a blessing that most central banks are independent and therefore can’t be destroyed by incompetent politicians. But aren’t we now close enough to the cliff where we just have to rethink how this debt burden can be reduced – in another way then thought of before. Doesn’t today’s problem justify central banks’ reserves to be used?
I think so.
In Greece we thought we had a new prime minister on Monday, another one on Tuesday and today they still haven’t got one. Are they screening every Greek for the job?
In Italy they haven’t even started. Well – i miei amici italiani – get your a.... moving – before it is too late.
For those who think that Italy is another Greece – sorry – take a breath because now we walk about trillions – not billions. Never heard the figure mentioned before? It starts with a “t” and it’s a thousand times more than a billion. We are talking big bucks.
I’m old in this market and I have seen how we made pasta out of Italian markets before. But then we didn’t have a Euro – we just slaughtered the currency they had. It was easy then. It takes a bit more today – but don’t think it can’t be done again.
What is going to happen to the ratification process of the 27 October agreement between EU and Greece now – subject to that Greece want it? Are the 17 countries standing by their word when suddenly Italy can be the next in line for bailout money? We have already passed that critical 7% yield when Greece, Portugal and Ireland all begged for help.
Or do we see countries now backing off because they see the possibilities of a financial collapse hitting their own banks and requiring thousands of Euros from each of their taxpayers to avoid their own banks collapsing? Do the 16 other parliaments then still want to help Greece?
To the Greeks I would say – sign that agreement quickly – before the others change their mind.
“I like the Law if it hadn’t been for Lawyers” is an old saying. “I like Democracy if it hadn’t been for politicians” should be another one.
But who should we listen to these days? The Queen (of England) said in the aftermath of the Lehman collapse: “Wasn’t there anyone who could see this?”
Where do the EU crises take us? It’s easy to see that we are into unfamiliar water. But is it too deep where we are?
Maybe we have to rethink the whole setup. In Europe we have enormous debt – the attention of everyone at moment. In Europe we also have enormous wealth – much more than what we owe.
Only reserves among European central banks are x times what European countries owe. Isn’t it about time that we release some of these funds for the purpose of reducing debt to a level we all can handle?
It’s a blessing that most central banks are independent and therefore can’t be destroyed by incompetent politicians. But aren’t we now close enough to the cliff where we just have to rethink how this debt burden can be reduced – in another way then thought of before. Doesn’t today’s problem justify central banks’ reserves to be used?
I think so.
