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  • #263,641
  • Jun 25, 2010 1:29pm Jun 25, 2010 1:29pm
Hi All,
just woke up and have gone short- I would not wish to be holding a long position over the weekend just in case of possible bad news for the http://cdn.forexfactory.com/images/icons/euro.gif
  • #263,642
  • Jun 25, 2010 1:29pm Jun 25, 2010 1:29pm
Quoting SunTrader
Got that conspiracy backwards. The Saudi's pump more oil when the price goes "too high".
Just look back to what happened to the price of oil over the Easter weekend, 1986 to see the truth in that statement! Price 'crashed' from 30+ $/bbl to 9 $/bbl overnight and people were turning up at work (in oil companies) to be handed the contents of their desks in a cardboard box, not allowed past security and fired immediately. Operators pulled the rug out from under the service companies by cancelling contracts with immediate effect. American personnel working in the UK 'oil capital' were given a one-way ticket back home and so, with no other choice, they just posted the keys to their mortgages properties through the estate agents doors. I have the misfortune of remembering those days, but one might say I also have the good fortune of surviving. LOL
  • #263,643
  • Jun 25, 2010 1:31pm Jun 25, 2010 1:31pm
Quoting chowur
Hi All,
just woke up and have gone short- I would not wish to be holding a long position over the weekend just in case of possible bad news for the http://cdn.forexfactory.com/images/icons/euro.gif
What about possible good news for the Euro?
  • #263,644
  • Jun 25, 2010 1:32pm Jun 25, 2010 1:32pm
Quoting Lorna
Just look back to what happened to the price of oil over the Easter weekend, 1986 to see the truth in that statement!...
same here.. oil states were in a depression then. people have a short memory.
those who can, do. those who cant, talk about those who can
  • #263,645
  • Jun 25, 2010 1:34pm Jun 25, 2010 1:34pm
Quoting Xaron
What about possible good news for the Euro?
In that case I would wish to be long. lol
Whatever-I need to make some money now enough playing around
  • #263,646
  • Jun 25, 2010 1:35pm Jun 25, 2010 1:35pm
Quoting gatorinla
wrong.. your assuming all debt goes to banks. in reality it does not. it goes to commerce
Don't put words in my mouth. I never said all debt goes to banks. I said that when money (fiat currency) is issued as debt and when that debt is repaid the money ceases to exist. That was in response to your claim that "money is never lost". It most certainly is lost when a debt is repaid to the bank that issued it, or written off.

As another poster pointed out, the original debt created when such "debt-based" money is issued cannot be fully repaid (P+I) since the interest does not exist unless it too is issued as debt. In a closed system this leads to an endless growth in the amount of debt.

Money could just be issued not as debt as has been done in the past, but that is not our current monetary regime.
  • #263,647
  • Jun 25, 2010 1:39pm Jun 25, 2010 1:39pm
Quoting black mamba
Pray tell what did Benanke rant about?
i don't think he spoke publicly today..i just meant that I'm sure he's in his office right now on the phone..finger on the button just making sure dow don't get back below 10K, maybe his key number is on S&P I don't know.

sry it took me so long to reply..got hung up
  • #263,648
  • Jun 25, 2010 1:39pm Jun 25, 2010 1:39pm
Quoting sneaker
Don't put words in my mouth. I never said all debt goes to banks. I said that when money (fiat currency) is issued as debt and when that debt is repaid the money ceases to exist. That was in response to your claim that "money is never lost". It most certainly is lost when a debt is repaid to the bank that issued it, or written off.

As another poster pointed out, the original debt created when such "debt-based" money is issued cannot be fully repaid (P+I) since the interest does not exist unless it too is issued as debt. In a closed system this...
a single dollar can pay off a billion dollars in debt in a cycle. so if it gets burned by the federal reserve after. its not lost. its just out the system after covering a billion in debt.
those who can, do. those who cant, talk about those who can
  • #263,649
  • Jun 25, 2010 1:43pm Jun 25, 2010 1:43pm
Quoting gatorinla
same here.. oil states were in a depression then. people have a short memory.
no man, a lot of us probably weren't alive at these times...most haven't researched it as you have either.

it's sad that so many speak w/o the facts..sometimes it's best to listen
  • #263,650
  • Jun 25, 2010 1:43pm Jun 25, 2010 1:43pm
Sneaker, a better way to illustrate would be to discuss the fractional banking system rather than the fiat currency.
For each dollar that a bank has as deposits, it's able to loan out $10. During times where a lot of loans are made, the money supply expands. During present times, when less loans are made than paid off/defaulted, the money supply contracts.
We're in a deflationary cycle; the only thing keeping inflation positive is the massive expansion of the Fed's balance sheet.
  • #263,651
  • Edited 1:48pm Jun 25, 2010 1:47pm | Edited 1:48pm
Be glad you aren't a Brit.. With a government like that you don't need foreign enemies...

Next thing they will have martial law!

Quoting gatorinla
just watching.. letting the bulls run... gbp up over 1.5.. a little bear usd just hurts ez that much more. making their problems worse.
Ah Luv the smell of a good prediction in the mornin!
  • #263,652
  • Jun 25, 2010 1:48pm Jun 25, 2010 1:48pm
Quoting chowur
Hi All,
just woke up and have gone short- I would not wish to be holding a long position over the weekend just in case of possible bad news for the http://cdn.forexfactory.com/images/icons/euro.gif
With the volatility the last week, it might not be good to have any position(long or short) in the euro over the weekend. I won't.

Dan
.
  • #263,653
  • Jun 25, 2010 1:53pm Jun 25, 2010 1:53pm
Quoting redpine
With the volatility the last week, it might not be good to have any position(long or short) in the euro over the weekend. I won't.

Dan
I agree Dan, I intend to close the position before closing time.
BTW do you know how long before NY close?
  • #263,654
  • Jun 25, 2010 1:55pm Jun 25, 2010 1:55pm
Quoting iflyjetzzz
Sneaker, a better way to illustrate would be to discuss the fractional banking system rather than the fiat currency.
For each dollar that a bank has as deposits, it's able to loan out $10. During times where a lot of loans are made, the money supply expands. During present times, when less loans are made than paid off/defaulted, the money supply contracts.
We're in a deflationary cycle; the only thing keeping inflation positive is the massive expansion of the Fed's balance sheet.
leave out the banks. spend a dollar at local store and follow where it goes. it will change hands many times. that single dollar will pay many debts. but its still just a dollar. but it can cancel debt on an infinite cycle. and even when burned it will still remain as debt paid on the books.
like gulf coast said..
those who can, do. those who cant, talk about those who can
  • #263,655
  • Jun 25, 2010 1:55pm Jun 25, 2010 1:55pm
A beauty from David Villa and Spain is up 1-0.
Enter Signature
  • #263,656
  • Jun 25, 2010 1:57pm Jun 25, 2010 1:57pm
Is something big about to happen?

The price has danced around the previous day's high about
eight times already.

Will it break through with a vengeance for another bull run?

  • #263,657
  • Jun 25, 2010 1:58pm Jun 25, 2010 1:58pm
Quoting chowur
I agree Dan, I intend to close the position before closing time.
BTW do you know how long before NY close?
New York close in two hours
  • #263,658
  • Jun 25, 2010 1:58pm Jun 25, 2010 1:58pm
Quoting Artcritique
Be glad you aren't a Brit.. With a government like that you don't need foreign enemies...

Next thing they will have martial law!
yeah...when im king of the world. we will have less wars and more parking lots.
those who can, do. those who cant, talk about those who can
  • #263,659
  • Jun 25, 2010 1:59pm Jun 25, 2010 1:59pm
Quoting sneaker
Don't put words in my mouth. I never said all debt goes to banks. I said that when money (fiat currency) is issued as debt and when that debt is repaid the money ceases to exist. e.
This is impossible buddy...there ain't enough to pay back ALL DEBT! your whole idea is wrong. ponzi scheme
  • #263,660
  • Jun 25, 2010 2:00pm Jun 25, 2010 2:00pm
Looks like the run might be finished for today.

Appears to be a basic sideways move now.

I guess everyone is exhausted!
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