devaluation of the dollar

sold out of my 2x short gold position today for a large loss. The dollar is a falling knife at this point, I had to step aside and let it fall. I had a nice two week streak going without incurring any losses. That just went out the window.
 
Quote from Landis82:

Lowering rates and adding liquidity to the credit markets is pretty basic stuff. They have been pretty straight forward in telling the market place that they are going to be buying mortgages and asset-backed securities.


In your opinion, how does this seek to "confuse"?
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I see things in life rather simplistically, and I see in the US a system that peaked more than thirty years ago in relation to output/consumption.

For the next thirty+ years US people have continued to over consume at an ever increasing rate peaking with the madness of the last housing boom.
Of course there have been some pullbacks along the way but insufficient to quench the thirst for credit.
Now the economy has stalled as the velocity of money has dropped and by doing so it becomes possible to root out the BS, ponzis etc in the system.

By flooding the system to increase the velocity again all this will be papered over (hence the confusion) and so something will have to give way ie USD or the pressure within the bubble will increase yet again.

I find it unbelievable that even I could see the looming CDS /RE problem two or more years ago and yet the administration continue to lie and pretend that there was no problem.
These are the same people now offering to fix the problem they could not see.

As I say, I am simplistic but all this is going to have an unexpected twist as the world strives to re-balance itself.

The sad thing is that all those millions of honest hard working US people will continue to be the scapegoat of greedy.

Frankly I find the whole thing beyond belief.

regards
f9
 
Euro going crazy.


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Quote from fearless9:

I find it unbelievable that even I could see the looming CDS /RE problem two or more years ago and yet the administration continue to lie and pretend that there was no problem.
These are the same people now offering to fix the problem they could not see.
More...

CDS' were created out of the "Commodity Futures Modernization Act of 2000" which came about via legislation from several top Republicans in Congress, and signed into law at the last minute in December of 2000 by President Clinton.

This also lead to the birth of Enron's ability to trade power contracts online with ZERO oversight, as well as West Texas Intermediate crude oil trading electronically overseas in Dubai and London with no CFTC oversight or position limits.
 
when is fed chairman going to resign?

look at stock market valued in other currencies (EUR), and you should be able to see the stupidity of the man.

If Fed action is anygood, we should see the stock market valued in other currencies rise. It is rather falling in terms of anything other than the dollar (and even in terms of the dollar it is red today).

What do you people need to ask for his removal?
 
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