Before It's News | Popular Money
EU Crisis Will Be Back Very Shortly
Graham Summers * Phoenix Capital Research August 9, 2013 The financial media continues to talk about how Europe is saved. It’s odd that somehow everything is starting to look so much better now than Angela Merkel is up for re-election in Germany. Could it be coincidence that the worst Crisis in years suddenly went away right as the women with her finger on the “bailout” button needed to convince German voters that she’s doing a great job? Remember, politics drive everything in Europe, including the markets (Spain’s political scandals had a bigger impact on the Spanish Ibex than a myriad of horrific economic data).
Global Currency Reset In Process: The Fed Cant Exit Easy Monetary Policy As USD Comes Under Attack, China and Russia Suggesting A New Bretton Woods, One Quadrillion Dollars of Derivatives Time Bomb Is Set To Explode
Is The Dollar Under Attack? The confused looks on traders faces is the “Taper-On” reaction in stocks (after celeberating last night’s false Chinese trade data) as the USD loses steam. Critically, the USD weakness (more usually associated with Taper-off (print-moar-on) is indicative of the ongoing collapse in the JPY-carry trade once again that is gaining momentum as data (and technicals) prompt a Taper sooner than later. US equities are starting to catch down to foreign stocks (and domestic credit), Treasuries are bid (but the Taper?) on safe-haven buying, and gold and silver are spiking as the USD comes under attack… http://www.zerohedge.com/news/2013-08-08/sudden-dollar-weakness-tapers-early-euphoria-sends-gold-spiking FOREIGN CENTRAL BANKS Ready to DUMP DOLLAR?? China and Russia Suggesting A New Bretton Woods Both China and Russia have begun discussing a new Bretton Woods-style agreement which would back the Yuan with gold and change the very fabric of the international monetary system. This concept falls right in line the developing nations’ demand for a replacement of the U.S.
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