Auslanco - GBP/JPY and GBP/USD (newstrade)
Scrat u are long
I posted this on September 18th and it has worked just as I had expected it, today's candle is going to close below daily gann and QQE crossing down.
I am short bigtime, 1 more thing.. good luck Scrat
The US is running a massive trade deficit with China. The Chinese companies take those dollars, turn them into the government, and get chinese currency. The chinese government then takes those dollars and buys treasuries, financing our budget deficit. The US government then spends the money, which quickly gets sent back to china to start all over again.
The whole thing breaks down when the chinese no longer wish to buy our treasury notes.
The whole thing also breaks down because the chinese government simply prints their currency to buy the dollars coming in, causing massive inflation in china from currency growth.
Basically, the US trade and budget deficit is one big clusterfuck, that has only existing because foreign countries want to keep their people employed. It will likely end within months, and you can expect to see the American standard of living drop like a rock.
something tells me we wont be seeing any new lows.... not yet.
