EURUSD

In 1922 Mitchell met the like-minded Italian air power theorist Giulio Douhet on a visit to Europe and soon afterwards an excerpted translation of Douhet's The Command of the Air began to circulate in the Air Service. In 1924, Mitchell's superiors sent him to Hawaii, then Asia, to get him off the front pages. Mitchell came back with a 324-page report that predicted future war with Japan, including the attack on Pearl Harbor. Of note, Mitchell discounted the value of aircraft carriers in an attack on the Hawaiian Islands, believing they were of little practical use as:

japan unlike china today was not buying u.s./European factories. had Japan, and gutted the machinery and shipped them back to japan like china is now, the out come may have ended differently. when you have to build a new factory and the machinery and train workers it takes time. you also need a raw material stockpile. u.s. government sold its stockpiles in alumina ect. in the last administration. for less than a penny on the dollar.

silly sheep..

you don't remain strong giving it away.

Doing well thanks! Posting vids on the thread is encouraged. Just that I'm anal about having videos unrelated to current events or economic matters.

On July 26, 1947 President Harry S Truman signed the National Security Act of 1947. Based on lessons learned during World War II, sweeping changes were made in the command structure of the United States Army and Navy. That act established a Department of Defense to be headed by a civilian secretary appointed by the President and holding Cabinet rank. The office of the Secretary of War became the Secretary of the Army who would, with his counterpart in the Navy, work together for a unified military defense with a Joint Chiefs of Staff. On that day the United States Air Force was born, a separate arm with its own Secretary of the Air Force...co-equal with that of the Army and Navy.

"Rome endured as long as there were Romans....
America will endure as long as there are Mitchells."


Sources:

Burlingame, General Billy Mitchell - Champion of Air Defense, McGraw-Hill Book Company, New York, NY, 1952
Davis, Burke, The Billy Mitchell Affair, Random House, New York, NY, 1967
Manchester, William, American Caesar, Little, Brown and Company, 1978
Manning, Robert, Above and Beyond, Boston Publishing Company, Boston, MA, 1985
Meilinger, Col. Phillip S., Airmen and Air Theory, Air University Press, Maxwell AFB, AL, 2001
Rickenbacker, Edward V., Rickenbacker, An Autobiography, Prentice Hall, 1967
Runyon, Damon and Kiernan, Walter, "Capt. Eddie Rickenbacker", Dell Publishing Company, New York, NY, 1942

I do and thanks, it's the bees knees!

Germany may pull out of deal to fund greece OH BOY!

Germany High Court Mulls Interim Order Against Euro Aidress


BERLIN (MNI) – The German Constitutional Court is weighing the
possibility of imposing an interim order against Germany’s participation
in the E750 billion EU/IMF fiscal rescue package, German weekly Der
Spiegel reported Sunday.
The magazine cited a letter from the President of the
Constitutional Court, Andreas Vosskuhle, to, amongst others, the German
government, the European Central Bank and the Bundesbank. The case
involves a lawsuit filed against the rescue package by Peter Gauweiler,
a lawmaker from Chancellor Angela Merkel’s center-right CDU/CSU bloc.
An interim order by the court could temporarily forbid the German
government from mobilizing the loan guarantees proposed under the EU
package, Der Spiegel said. Germany’s share of the EU measures amounts to
up to E148 billion in guarantees.
According to the magazine, the German government in a statement to
the Constitutional Court has warned that an interim order could lead to
“a self-fulfilling expectation of a default” by fiscally ailing EU
member states.
Moreover, the government remarked that the EU rescue package “is
not a legally binding agreement under international law but only a
political declaration of intent.”
In addition to Gauweiler’s lawsuit, three others have been filed at
the Constitutional Court against the rescue package. Another lawsuit is
to be filed next week, the magazine wrote.

http://bllomberg.com/apps/news?pid=2...RyH7olkQ&pos=9
http://bllomberg.com/apps/news?pid=2...U2Fa2Q54&pos=4

Morning to all . just start the trade scalping mode , open short for 1.1889 where it can bounce up ( possible hs m5 -fit perfectly if done 45 pipsfrom 1.1920 = 1.1965) towards 1.1961 or simply can bear continuation down to 1.1874 to 1.1855 to 51.
fontu

Where did you get this news?

the spreads will be massive in a few hrs when europe open nikkei down 4%

The G20 finance ministers and central bank chiefs concluded their meeting in Busan, South Korea over the weekend, ahead of a summit of G20 Leaders in Toronto on June 26-27. There was a distinct shift in tone in the communiqu? since the last meeting in April. Previous references indicating support for further fiscal stimulus were dropped, and replaced with calls for selective fiscal consolidation. The statement explicitly noted that "those countries with serious fiscal challenges need to accelerate the pace of consolidation", although German Finance Minister Schaeuble conceded there were differences of opinion within the G20 on the priority of deficit reduction. Speaking after the meeting, IMF Managing Director Strauss-Kahn said some European countries would "have to consolidate strongly even if it has some bad effect on growth". Further references were made to the developing debt crisis in Europe. The statement welcomed "the determined actions taken by the European Union, the European Central Bank and the IMF", although it observed that "the recent volatility in financial markets reminds us that significant challenges remain". There was no agreement on whether a global bank tax should be introduced, following determined opposition from Canada and Japan. Canada's Finance Minister Flaherty described discussions on universal bank levies as "a distraction from the core issues". However, on the broader subject of regulation, the G20 was supportive of the notion that the financial sector should make a "fair and substantial" contribution to government-sponsored bank bailouts. The statement went on to confirm what has been clear for some time, that the global economy "continues to recover faster than anticipated, although at an uneven pace". France's Finance Minister Lagarde confirmed this when she described a general feeling amongst the G20 delegates that some Asian countries as well as Latin America run the risk of overheating (aka bubbles) , while the recovery in the Eurozone is likely to be more fragile (aka bad) . Concerns are clearly running high that the sovereign debt crisis will spread and intensify. The communiqu? called on the IMF "to make rapid progress in reviewing its lending instruments, with a view to developing and upgrading them, as appropriate". For its part, the G20 pledged to ensure the IMF "has the resources it needs so that it can play its important role". The latter comment comes after Chairman of the International Monetary and Financial Committee Boutros-Ghali said on Friday that the IMF needs to replenish its resources after having supported Greece, suggesting that the value of SDRs in issue would need to increase significantly, perhaps doubling in size. US Treasury Secretary Geithner said that the need for a more flexible exchange rate policy in China was discussed, but he gave no further details. China's Finance Minister Xie Xuren said developed economies should ensure "relative stability" of the main reserve currencies. EU Monetary Affairs Commissioner Rehn played down fears over the developing fiscal situation in Hungary saying that "any talk of a fiscal or debt default in Hungary is widely exaggerated." The next G20 meeting of finance ministers and central bankers is due to take place on October 22-23, again in the Republic of Korea.

Germany High Court Mulls Interim Order Against Euro Aidress


BERLIN (MNI) – The German Constitutional Court is weighing the
possibility of imposing an interim order against Germany’s participation
in the E750 billion EU/IMF fiscal rescue package, German weekly Der
Spiegel reported Sunday.
The magazine cited a letter from the President of the
Constitutional Court, Andreas Vosskuhle, to, amongst others, the German
government, the European Central Bank and the Bundesbank. The case
involves a lawsuit filed against the rescue package by Peter Gauweiler,
a lawmaker from Chancellor Angela Merkel’s center-right CDU/CSU bloc.
An interim order by the court could temporarily forbid the German
government from mobilizing the loan guarantees proposed under the EU
package, Der Spiegel said. Germany’s share of the EU measures amounts to
up to E148 billion in guarantees.
According to the magazine, the German government in a statement to
the Constitutional Court has warned that an interim order could lead to
“a self-fulfilling expectation of a default” by fiscally ailing EU
member states.
Moreover, the government remarked that the EU rescue package “is
not a legally binding agreement under international law but only a
political declaration of intent.”
In addition to Gauweiler’s lawsuit, three others have been filed at
the Constitutional Court against the rescue package. Another lawsuit is
to be filed next week, the magazine wrote. http://cdn.forexfactory.com/images/misc/progress.gif http://cdn.forexfactory.com/images/buttons/edit.gif

actually some decent advice



use stops..dont' end up like this guy

I still think there is going to be a huge move up in the coming years but now I see it's not quite yet. I cut em all @1.2014

i saw this and the euro popped in my head.

LOLOLOLOLOLOL. wtf was that guy thinking?

pending long at 1.1892 for tp 1.1910+ 24 & if break there then 61 & if fails to break specially at 24 then back to 1.1882 & try last time to 1.1924 & even can't break bear continuation lower levels .
anyways longs on though not 92 exactly at 93 got & now safely can target 1.1924.

http://www.telegraph.co.uk/finance/f...ive-years.html

euro is already dead if German judges rule against the bailout. the small print is a mofu

70 virgins + 2

Sentiment is very grey this morning. Talk of a constitutional challenge in Germany to the EU/IMF aid package, G20 suggesting that the fiscal expansionary policies must cease, Sovereign debt woes all over the globe- it’s a bad news day and risk-aversion is the only play. There is talk now of big stops in the AUD/USD below .8000 and this level is getting ever closer once again. The EUR has no friends at all in the FX market and is falling against the USD, JPY, GBP and CHF.