This is the way the dominoes started in 2008

[Jack.Yarn]

Subprime Lender Self-Disrupts

Lending money to poor people is shockingly profitable. Yet the temptation to wring even more money out of doorstep lending led Provident Financial Plc to revamp its business in the name of technology and efficiency.

The result: a wrecked share price, the CEO's exit, regulatory scrutiny and a balance sheet that may need propping up. The blessing in disguise may be a slowdown in subprime lending.

Provident Warning
Subprime lender's share price collapses by two-thirds after profit warning and CEO exit

...


https://www.bloomberg.com/gadfly/ar...-self-disruption-has-a-subprime-silver-lining

 

[Jack.Yarn]

Do nations see things before markets? I would be very wary of the EUR weakening massively against gold, and probably JPY.

Germany Finishes Bringing Gold Reserves Back From France
THE ASSOCIATED PRESS
August 23, 2017, 7:02 AM CDTAugust 23, 2017, 7:48 AM CDT

Berlin (AP) -- Germany's central bank says it's completed a plan to repatriate gold reserves it stashed abroad during the Cold War three years ahead of schedule.

The Bundesbank said Wednesday that 91 metric tons (100.3 tons) of gold had been returned from Paris.

The plan, initially expected to take until 2020, involved returning 374 tons of gold from Paris, and 300 tons from New York....


https://www.bloomberg.com/news/arti...ishes-bringing-gold-reserves-back-from-france

 

[Cswim63]

Maybe they just like gold. They want to start a jewelry biz. But it's been duly noted-- you saw a collapse in the euro first. I did short the Euro yesterday on the London open based on your idea. Haven't checked the price. Am I ahead?

 

[Jack.Yarn]

Maybe they just like gold. They want to start a jewelry biz. But it's been duly noted-- you saw a collapse in the euro first. I did short the Euro yesterday on the London open based on your idea. Haven't checked the price. Am I ahead?

How is that trade "based on my idea?" If you wanted to implement the idea, you would have shorted the EUR/USD or possibly EUR/JPY and bought GC.1.

If you had done that in the right ratio, you would be up a little.

 

[Jack.Yarn]

Maybe they just like gold. They want to start a jewelry biz. But it's been duly noted-- you saw a collapse in the euro first. I did short the Euro yesterday on the London open based on your idea. Haven't checked the price. Am I ahead?

Now you would be nicely in the green [assuming long gold and short EUR either in USD or JPY]. But that is lucky due to North Korea which boosted both sides of the spread!

 

[Cswim63]

Now you would be nicely in the green [assuming long gold and short EUR either in USD or JPY]. But that is lucky due to North Korea which boosted both sides of the spread!

I was. I could take a missile launch at least once a week. As I said in another thread, I still don't get why you shoot a missile at a country and the currency goes up. Anyway I'd been stalking usdjpy short for days, and finally it moved. I'm flat and happy.