CHF is attempting to stablize and climb. Maybe 4050 will hold.
- #115,204
- Jun 25, 2009 9:43pm Jun 25, 2009 9:43pm
- Joined Oct 2008 | Status: sideline is a position | 105,127 Posts
those who can, do. those who cant, talk about those who can
- #115,205
- Jun 25, 2009 9:48pm Jun 25, 2009 9:48pm
- Joined Oct 2008 | Status: sideline is a position | 105,127 Posts
those who can, do. those who cant, talk about those who can
- #115,209
- Jun 25, 2009 9:57pm Jun 25, 2009 9:57pm
- Joined Oct 2008 | Status: sideline is a position | 105,127 Posts
those who can, do. those who cant, talk about those who can
- #115,211
- Edited 10:11pm Jun 25, 2009 10:06pm | Edited 10:11pm
- | Joined Jun 2008 | Status: Mixed Martial Chartist | 1,007 Posts
"I think it makes sense to devalue the US$. I'm not claiming to be an economist but why not inflate the US out of debt, rebuild their economy and come back stronger. The rest of the world will just have to bite the bullet for a while. Another quote that still makes me giggle when I see it is "It may be our currency, but it's your problem'' - Treasury Secretary John Connally's taunt when the U.S. unhooked the dollar from the gold standard in 1971."
Ran out of money so getting out the credit card to go back to the casino, now dats sum guuuuud economics.
Why not, it's working in Zimbabwe....oh wait, but it certainly worked for the Wiemar republic, nope, crap. Perhaps there is a first time for everything in history? Maybe not. I don't think $300 loaves of bread will help the US.
That quote from Keynes, about the market staying irrational longer than we can stay solvent, may be the only thing he ever said that rings true.
The mixed economy is just as much as a failure as the controlled economy, let's give free enterprise a chance for the first time in history. Yeah I know, silly idealists like me.... These bubbles simply cannot be built without wads and wads of borrowed money, please, no one try to tell me that they would have been built up in the first place if the bailout exit plan wasn't guaranteed by government in advanced. It's time to leave the beach when you see the lifeguards having lunch with a group of sharks.
In a free market, it's the bubble builders that end up shoeless.
Funny isn't it how we advise traders to get out of a hole by ceasing to dig first, yet when it comes to entire countries, that somehow doesn't make sense anymore?
More so than any other, the reason to NOT inflate the US out of debt is because each unit of currency created to pay down the debt, is by the very structure of the FRB, the creation of more debt. It's like trying to smother a giant bonfire with crates of dynamite. Yeah... it 'could' put out the fire, but it's a really bad idea all the same.
Ran out of money so getting out the credit card to go back to the casino, now dats sum guuuuud economics.Why not, it's working in Zimbabwe....oh wait, but it certainly worked for the Wiemar republic, nope, crap. Perhaps there is a first time for everything in history? Maybe not. I don't think $300 loaves of bread will help the US.
That quote from Keynes, about the market staying irrational longer than we can stay solvent, may be the only thing he ever said that rings true.
The mixed economy is just as much as a failure as the controlled economy, let's give free enterprise a chance for the first time in history. Yeah I know, silly idealists like me.... These bubbles simply cannot be built without wads and wads of borrowed money, please, no one try to tell me that they would have been built up in the first place if the bailout exit plan wasn't guaranteed by government in advanced. It's time to leave the beach when you see the lifeguards having lunch with a group of sharks.
In a free market, it's the bubble builders that end up shoeless.
Funny isn't it how we advise traders to get out of a hole by ceasing to dig first, yet when it comes to entire countries, that somehow doesn't make sense anymore?
More so than any other, the reason to NOT inflate the US out of debt is because each unit of currency created to pay down the debt, is by the very structure of the FRB, the creation of more debt. It's like trying to smother a giant bonfire with crates of dynamite. Yeah... it 'could' put out the fire, but it's a really bad idea all the same.
- #115,214
- Jun 25, 2009 10:18pm Jun 25, 2009 10:18pm
- Joined Oct 2008 | Status: sideline is a position | 105,127 Posts
those who can, do. those who cant, talk about those who can
- #115,215
- Jun 25, 2009 10:21pm Jun 25, 2009 10:21pm
- Joined Oct 2008 | Status: sideline is a position | 105,127 Posts
those who can, do. those who cant, talk about those who can
- #115,216
- Jun 25, 2009 10:28pm Jun 25, 2009 10:28pm
- Joined Jan 2008 | Status: HEY! WHA' HAPPENED? | 15,496 Posts
"I think it makes sense to devalue the US$. I'm not claiming to be an economist but why not inflate the US out of debt, rebuild their economy and come back stronger. The rest of the world will just have to bite the bullet for a while. Another quote that still makes me giggle when I see it is "It may be our currency, but it's your problem'' - Treasury Secretary John Connally's taunt when the U.S. unhooked the dollar from the gold standard in 1971."
Not all sins are created equal
- #115,217
- Edited Jun 26, 2009 12:26am Jun 25, 2009 10:28pm | Edited Jun 26, 2009 12:26am
- Joined Oct 2006 | Status: Trader | 7,219 Posts
Can I come back to you with any questions?
Nothing worth having is easy.
- #115,218
- Jun 25, 2009 10:30pm Jun 25, 2009 10:30pm
- Joined Oct 2008 | Status: sideline is a position | 105,127 Posts
those who can, do. those who cant, talk about those who can
- #115,219
- Jun 25, 2009 10:30pm Jun 25, 2009 10:30pm
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
In trying to catch up on these posts I noticed comments regarding people talking about conspiracies. Here is what a poster replied to me recently:
"I am glad to see that you are ridding your chart reading glasses of some foggy notion predicated on some conspiratorial theory. This is a very good sign and hopefully you can get that monkey off your back and start to make some real doles....."
vt.
And here was my reply:
Aw, gee......makin' money by itself is boring. The conspiracy theory stuff is what makes it exciting! In the last number of days we have had an inordinate amount of 100+ to almost 300 pip moves! And thru all this the dollar and the euro still by the same goods at the stores. So, either the elite trading concerns are manned with idiots that can't make up their minds, or they plan this shit just to make money! ....which is all fine with us 'cause it give us the volatility we need to make money too!
Ok, so much for conspiracies for now. As regards EU the current PA is bullish as I see it. The rise late last session was on very good volume, including the highest volume in any 15 minute timeframe for the ENTIRE day! So, it would seem the push up was serious. And now the Asian traders elevated it further.....no back and forth manipulation bullshit, as is their normal fair, but up and holding! The attached M15 chart includes yesterday's range blue boxed with FEs applied. I see PA making it to the 162% level. It would be a move well within ATR. And since that would take PA back only to Wednesday's high, we could see a run that goes even higher.....maybe to the next whole number of 1.4200. The FE 262% level = mR5.....now THERE is a thought!
"I am glad to see that you are ridding your chart reading glasses of some foggy notion predicated on some conspiratorial theory. This is a very good sign and hopefully you can get that monkey off your back and start to make some real doles....."
vt.And here was my reply:
Aw, gee......makin' money by itself is boring. The conspiracy theory stuff is what makes it exciting! In the last number of days we have had an inordinate amount of 100+ to almost 300 pip moves! And thru all this the dollar and the euro still by the same goods at the stores. So, either the elite trading concerns are manned with idiots that can't make up their minds, or they plan this shit just to make money! ....which is all fine with us 'cause it give us the volatility we need to make money too!
Ok, so much for conspiracies for now. As regards EU the current PA is bullish as I see it. The rise late last session was on very good volume, including the highest volume in any 15 minute timeframe for the ENTIRE day! So, it would seem the push up was serious. And now the Asian traders elevated it further.....no back and forth manipulation bullshit, as is their normal fair, but up and holding! The attached M15 chart includes yesterday's range blue boxed with FEs applied. I see PA making it to the 162% level. It would be a move well within ATR. And since that would take PA back only to Wednesday's high, we could see a run that goes even higher.....maybe to the next whole number of 1.4200. The FE 262% level = mR5.....now THERE is a thought!
- #115,220
- Jun 25, 2009 10:32pm Jun 25, 2009 10:32pm
- Joined Apr 2009 | Status: Live and learn. | 25,165 Posts
"If The Fool persists in his Folly he will become wise." - William Blake