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The Real "Master Plan" Is To Dump the Euro
It seems that most of the market analysts get caught in nonsensical cycles trying to figure out if the ECB on Wednesday will cut rate, introduce another round of LTRO, restart the Securities Market Program (SMP), do one or all of the previous, or take no actions at all. On another level, they crowned their guesswork by forecasting how the EUR will respond to each of these actions. The fallacy here is that the market has already faded all of the ECB actions since the beginning of the crisis. In other words, no matter what tools the ECB will announce their deployments on Wednesday, it's likely that their impact on the ... (full story)
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