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Jacko's Forex House of Pleasure and Pain

  • #6,821
  • Mar 24, 2009 10:55pm Mar 24, 2009 10:55pm
Quoting newbietrader101
ihave been selling this sucker hard since 3660 after we got the SMS text call.. hope everyone else got on it to.
Hi Newbietrader, would you have still sold it if you hadn't received the sms? If so, why?
  • #6,822
  • Mar 24, 2009 10:59pm Mar 24, 2009 10:59pm
Quoting plan-b
Attachment

Im a bear below 1.36


so far so good
Some drink at the fountain of knowledge. Others just gargle !
  • #6,823
  • Mar 25, 2009 12:28am Mar 25, 2009 12:28am
Quoting jacko
Hi all,

Today will be a very important day in the history of the US dollar.

Later this, morning Tomothy Geithner will outline the details of the administration’s long-awaited plan to create a government body called the Public Investment Corp., funded by as much as $100 billion and purchase up to a Trillion dollars worth of troubled assets from the balance sheets of banks.
[font=Verdana]This plan relies on private investors (the mercenary "wolves" of hedge funds and private equity...

The next G20 meeting will be a very important meeting in the history of the US dollar.

After pumping Trillions of of newly printed USD dollar bills into the economy, and promising that they will continue to do so into the future....leading to a devaluation of the USD....the US goverment is now expressing "surprise and dismay" at the proposal from China ( and supported by most of the US trading partners) that the world should move away from the USD to a new world currency based on Special Drawing Rights from the International Moneary Fund.

http://news.yahoo.com/s/ap/20090325/ap_on_re_as/as_china_global_currency


Although it will take some time to put in place, it would result in the loss of the USD's position as the worlds only reserve currency, the loss of its "flight to security" status and its economic power.

The Commission of Experts on International Financial Reform panel will recommend to the UN that the dollar be abandoned as the world’s currency
.
After the disgraceful prostitution of the financial system by Wall St that has brought the world to the edge of financial abyss, it is no wonder that all the rest of the world is eagerly supporting this proposal

Should this proposal be seriously considered, we will see a long term and substantial deterioration in the USD.

How did we ever let those greedy morons on Wall St get us into this appalling position??

Why hasn't ANYONE been held legally responsible for this outright negligence and fraud??


.
Jacko
  • #6,824
  • Mar 25, 2009 2:06am Mar 25, 2009 2:06am
Hi Guys,Predominately I have been using ProRealTime for the charting.I have noticed that there are a number of charts that have been posted and it looks like they are all based on the same template. I was wondering if this was the case and if so is someone prepared to share the template.I have found the mq4 file for the trailing stops but not for the chart.RegardsSteve
  • #6,825
  • Mar 25, 2009 2:44am Mar 25, 2009 2:44am
Money-RX,

Your post rings true in every word. Sad, but true. Thanks.

Jacko,

The reason NO ONE is being held legally accountable is all the players are in this together, so who remains to take any action? We can't expect the goverment to do so as they are to busy creating the problem. Thanks for your informative post & info sources.

_______________________
  • #6,826
  • Mar 25, 2009 3:41am Mar 25, 2009 3:41am
Should this proposal be seriously considered, we will see a long term and substantial deterioration in the USD.

How did we ever let those greedy morons on Wall St get us into this appalling position??

Why hasn't ANYONE been held legally responsible for this outright negligence and fraud??


.
Jacko[/quote]

Seems there are 2 explanations - either all those people running the USA are stupid or this is the result of some Machiavellian plan coming to fruition.
  • #6,827
  • Mar 25, 2009 3:44am Mar 25, 2009 3:44am
tamster,

Both explanations fit nicely it seems. A plan slowly coming together.
  • #6,828
  • Mar 25, 2009 4:12am Mar 25, 2009 4:12am
Quoting tamster
Should this proposal be seriously considered, we will see a long term and substantial deterioration in the USD.

How did we ever let those greedy morons on Wall St get us into this appalling position??

Why hasn't ANYONE been held legally responsible for this outright negligence and fraud??


.
Jacko
Seems there are 2 explanations - either all those people running the USA are stupid or this is the result of some Machiavellian plan coming to fruition.[/quote]

I am slowly adding to my NZD and AUS/USD longs. Natural resources and commodities should prosper in the long run.

Watch out for Geithner plan involving public investment. Anytime the government unveils "public investment" schemes it is doublespeak for bailout.

Greedy capitalists will game the system forever as long as they have politicians as willing accomplices.
History is written by the victors.
  • #6,829
  • Mar 25, 2009 8:22am Mar 25, 2009 8:22am
Hey Paul Krugman

http://www.youtube.com/watch?v=XOYAuk809fY

this video is really funny I can't help but post it here....
Take a report.
  • #6,830
  • Edited Mar 26, 2009 7:12am Mar 25, 2009 8:56am | Edited Mar 26, 2009 7:12am
Quoting jacko
The next G20 meeting will be a very important meeting in the history of the US dollar.

After pumping Trillions of of newly printed USD dollar bills into the economy, and promising that they will continue to do so into the future....leading to a devaluation of the USD....the US goverment is now expressing "surprise and dismay" at the proposal from China ( and supported by most of the US trading partners) that the world should move away from the USD to a new world currency based on Special Drawing Rights from the International Moneary Fund....
Hi all

This morning we all had a small taste of the likely impact of the proposal that the world should move away from the USD to a new world reserve currency based on Special Drawing Rights from the International Monetary Fund.


.
Jacko
  • #6,831
  • Edited 10:11am Mar 25, 2009 9:53am | Edited 10:11am
Jacko,

How likely is it for these plans to come to pass? Is there any opposition, & if so who might it be? From my contacts in the banking sector, it is highly probable, but not all are agreeing. Tks for your valued views & comments.

____________________
  • #6,832
  • Mar 25, 2009 11:44am Mar 25, 2009 11:44am
This would bring a HUGE change and everyone who is conservative is likely to oppose this. The US would find it very hard to finance its debt without rising rates, which would cost in economic terms, at a time when it is very vulnerable.
Even saying that this will happen in 5-10y will bring to a massive devaluation in the USD and debt financing issues, as everyone would try to get out of smt which is expected to go wrong.

PPle would turn to gold or what???



Quoting acetrader
Jacko,

How likely is it for these plans to come to pass? Is there any opposition, & if so who might it be? From my contacts in the banking sector, it is highly probable, but not all are agreeing. Tks for your valued views & comments.

____________________
  • #6,833
  • Mar 25, 2009 12:13pm Mar 25, 2009 12:13pm
AoraFX,

You raise a very valid point. Gold does seem a viable option @ this point in time. I did purchased a small amount yrs ago & am still holding it @ this time. I bought in @ a much lower rate than the current rate. Gettting about 2 calls each week from someone trying to sell me more.

Maybe JACKO will weight in on the idea buying gold @ this time.

Thanks for you views & comments.
_______________________
AceTrader
  • #6,834
  • Mar 25, 2009 1:06pm Mar 25, 2009 1:06pm
Quoting acetrader
AoraFX,

You raise a very valid point. Gold does seem a viable option @ this point in time. I did purchased a small amount yrs ago & am still holding it @ this time. I bought in @ a much lower rate than the current rate. Gettting about 2 calls each week from someone trying to sell me more.

Maybe JACKO will weight in on the idea buying gold @ this time.

Thanks for you views & comments.
_______________________
AceTrader
I would definately be a buyer of gold. Price targets vary from $2000 - $6000 an ounce. Next stop should be $1300 but there could be usual pullback during summer.
For great articles on gold and the economy, look at the Hot Reports on this site:
http://www.gold-eagle.com/
  • #6,835
  • Mar 25, 2009 1:31pm Mar 25, 2009 1:31pm
Tamster,

A goldbug friend advised me the same.....wait until summer. It is pricey @ the currents level, but if lower is seen I might just resume buying.

I guess this is getting away for the thread topic....sorry about that.

__________________________
  • #6,836
  • Mar 25, 2009 2:21pm Mar 25, 2009 2:21pm
Quoting Money-RX
Seems there are 2 explanations - either all those people running the USA are stupid or this is the result of some Machiavellian plan coming to fruition.
I am slowly adding to my NZD and AUS/USD longs. Natural resources and commodities should prosper in the long run.
[/quote]

I too am buying the dips including E/U and gold. Gotta be careful with gold as the price seems to be manipulated.

I heard the T Bill auction was a flop today. Any analysis?
  • #6,837
  • Mar 26, 2009 5:13am Mar 26, 2009 5:13am
This is an awesome forum. You are all very kind to share your experience.
  • #6,838
  • Mar 26, 2009 7:09am Mar 26, 2009 7:09am
Hi all,

In a disturbing development which has implications for future sales of US Bonds, “ the British Government admitted yesterday that, for the first time since 1995, investors had been unwilling to buy the full complement of its so-called gilt-edged bonds at one of its official auctions.
Gilts are the financial instrument it sells to investors to fund public spending
Fears are growing on the financial markets that Britain may not be able to repay the billions of pounds in debt it is amassing to rescue banks and revive the economy”.
The failed gilt auction, the first for many years, should be of real concern to everyone.
‘‘It is too early to say, but the risk is that at some point the Government will not be able to fund its huge debts.” (http://www.telegraph.co.uk/finance/financetopics/recession/5051738/City-alarm-as-Treasury-fails-to-sell-Government-gilts.html )

Sounds very similar to the situation in the States….the next US T Bond sales will be interesting
  • #6,839
  • Mar 26, 2009 7:43am Mar 26, 2009 7:43am
I understand that Soros made more than $1B in 2008 betting that the GBP would drop interest rate (therefore, lose value)... It sounds like 1992 revisited. Perhaps the gbpusd is about to begin a strong downward trend. Often the eurusd is correlated to the gbpusd in the long-term. However, with the usd also losing value, it seems as if we are to determine the lesser of the evils...

Walt
  • #6,840
  • Mar 26, 2009 8:13am Mar 26, 2009 8:13am
Interesting also is that the Queen asked for an meeting with Mervyn King, Govenor of the Bank of England. Following this meeting. Mervyn King told Gordon Brown that there was no more money available for bailouts. Queen must have better economic advisors than Brown!!
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