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  • #512,901
  • Aug 6, 2011 8:05am Aug 6, 2011 8:05am
Quoting Flynchenberg
F@ck China. Global reserve currncy?
F@ck them.
luckily for you china isnt trusted politically > but if their political system stabilises and they growth their debt market, creating enough confidence, then the yuan could well become reserve...but that is a LONG way off and im skeptical on its occurrence
  • #512,902
  • Aug 6, 2011 8:16am Aug 6, 2011 8:16am
Quoting gatorinla
not my pecker (unless p-hards count). i did something i rarely do. i scrolled through the post.. one guy seems to be drinking shroom tea. i learned about s/p downgrade. my overall conclusion was, i will never get the 45 minutes wasted back. other then that. doing fine. but still pissed about the 45 wasted min.. i have few on my dummmmmber ass list.. but i think i will start building it.
sorry to hear about your pecker...and your 45mins, then again, takes me 45mins to find my pecker, so guess it always could be worse....

ps, let me know if I make the list...

enjoy the weekend...PTL
Look Sharp/Trade Tight
  • #512,903
  • Aug 6, 2011 8:24am Aug 6, 2011 8:24am
One comment from me here, bit busy these past few days.

Well done, Beer, you stuck to your guns. Looking forward to next week.
  • #512,904
  • Aug 6, 2011 8:34am Aug 6, 2011 8:34am
Laughable, it really is. They watch the markets crash this week, they watch the US government squirm after the debt agreement, they do not act decisively with their downgrade. No, instead they wait until the worst possible time and then downgrade during the weekend. Cowards.

Anyone who can't see this is a politically motivated move is fooling themselves.

Asian open will be interesting.

I don't mind the volatility tbh, it's just that these kinds of events totally fuck up my charts.
  • #512,905
  • Aug 6, 2011 8:39am Aug 6, 2011 8:39am
Quoting ukdaytrader
Laughable, it really is. They watch the markets crash this week, they watch the US government squirm after the debt agreement, they do not act decisively with their downgrade. No, instead they wait until the worst possible time and then downgrade during the weekend. Cowards.

Anyone who can't see this is a politically motivated move is fooling themselves.

Asian open will be interesting.

I don't mind the volatility tbh, it's just that these kinds of events totally fuck up my charts.
well i think it is political in the sense that s&p had to prove they had balls, ie stick to their warning of a downgrade in the absence of a $4T plan. But there are good economic reasons behind it. Having said that i think treasuries will continue to be treated as AAA and the Chinese are seriously playing off this. they have trillions of dollars in fcr and huge power in the market. s&p are clearly using the high volatility as a cover up for the true impact on sentiment. going to be interesting to see how it develops
  • #512,906
  • Aug 6, 2011 8:39am Aug 6, 2011 8:39am
Quoting ukdaytrader
Laughable, it really is. They watch the markets crash this week, they watch the US government squirm after the debt agreement, they do not act decisively with their downgrade. No, instead they wait until the worst possible time and then downgrade during the weekend. Cowards.

Anyone who can't see this is a politically motivated move is fooling themselves.

Asian open will be interesting.

I don't mind the volatility tbh, it's just that these kinds of events totally fuck up my charts.
no doubt it is a war policy ..
  • #512,907
  • Aug 6, 2011 8:40am Aug 6, 2011 8:40am
what an idea.. an non floating reserve currency. so the Chinese could control what the u.s. and Europe pays for everything.. good luck with that fantasy.. maybe 50/100 years after the war. the Chinese better stock up on drinking water/coal first.(save the mt bottles for urine storage. then drinking water) we are gonna knock out the electric grid = the water plants. day 1 with unmanned missiles grid gone.... day 5, people are hungry. day 10, they start attacking army food supplies. a war and a civil war.. day 25, surrender is achieved. with peace talks agreement that include a billion happy meals. and a cancellation of all u.s. debt.... day 26, the imf pulls in with a suitcase full of money and enslaves. day 30, Goldman opens for business. Day 31, Disney
bulldozes 1000dreds of small farms for the new 2500 acre Chinodisney resort. with parking on both sides of the great wall. Day 32, Steve Wynn breaks the ground on his new 500,000 room resort with valet underground parking.
those who can, do. those who cant, talk about those who can
  • #512,908
  • Aug 6, 2011 8:46am Aug 6, 2011 8:46am
Quoting gatorinla
what an idea.. an non floating reserve currency. so the Chinese could control what the u.s. and Europe pays for everything.. good luck with that fantasy.. maybe 50/100 years after the war. the Chinese better stock up on drinking water/coal first.(save the mt bottles for urine storage. then drinking water) we are gonna knock out the electric grid = the water plants. day 1 with unmanned missiles grid gone.... day 5, people are hungry. day 10, they start attacking army food supplies. a war and a civil war.. day 25, surrender is achieved. with peace...
amusing fantasy
  • #512,909
  • Aug 6, 2011 8:46am Aug 6, 2011 8:46am
Quoting gatorinla
what an idea.. an non floating reserve currency. so the Chinese could control what the u.s. and Europe pays for everything.. good luck with that fantasy.. maybe 50/100 years after the war. the Chinese better stock up on drinking water/coal first.(save the mt bottles for urine storage. then drinking water) we are gonna knock out the electric grid = the water plants. day 1 with unmanned missiles grid gone.... day 5, people are hungry. day 10, they start attacking army food supplies. a war and a civil war.. day 25, surrender is achieved. with peace...

GOOD VISION ..

  • #512,910
  • Aug 6, 2011 8:48am Aug 6, 2011 8:48am
Quoting Walker93
amusing fantasy
one is as good as another. a wast of time you will never get back
those who can, do. those who cant, talk about those who can
  • #512,911
  • Aug 6, 2011 8:50am Aug 6, 2011 8:50am
Quoting Walker93
well i think it is political in the sense that s&p had to prove they had balls, ie stick to their warning of a downgrade in the absence of a $4T plan. But there are good economic reasons behind it. Having said that i think treasuries will continue to be treated as AAA and the Chinese are seriously playing off this. they have trillions of dollars in fcr and huge power in the market. s&p are clearly using the high volatility as a cover up for the true impact on sentiment. going to be interesting to see how it develops
Having good economic reasons to downgrade never presented a problem to the ratings agencies before, did it.
This is a fantastic pre-election opening gambit from the Republican right.
  • #512,912
  • Aug 6, 2011 8:51am Aug 6, 2011 8:51am
later folks..
gotta kiss the dog and walk the little lady..
those who can, do. those who cant, talk about those who can
  • #512,913
  • Aug 6, 2011 8:52am Aug 6, 2011 8:52am
Quoting Walker93
Well firstly i'm glad im not in America now. S&P may be shooting themselves in the foot but its a ballsy move on their part, they had to stick to their guns on downgrading unless there was a $4T plan, they just timed the downgrade when there was already huge volatility to cover the impact > I think US treasuries will remain as good as AAA purely because of their huge liguidity. The only fundamental difference economically to give s&p reason to downgrade is the greater possibility of a double dip recession. Lower rated assets will see greater sell-offs,...

Nice post

I'm just trying but cannot find a chinese statement made in the middle of the debt ceiling debate and possible downgrades saying that even if downgrade does happen nothing much will change. Not because China wouldn't like to change the way things are (buying US treasuries) but simply because there is no other option. Statement was something like (i'm paraphrasing): it's still the most reliable thing to do.
big numbers are our friends...
  • #512,914
  • Aug 6, 2011 8:52am Aug 6, 2011 8:52am
Quoting gatorinla
one is as good as another. a wast of time you will never get back
took about 10 seconds and made me laugh so not much waste there > but the yuan wont become reserve so we don't need to entertain fantasies such as that
  • #512,915
  • Aug 6, 2011 8:54am Aug 6, 2011 8:54am
Quoting ukdaytrader
Having good economic reasons to downgrade never presented a problem to the ratings agencies before, did it.
This is a fantastic pre-election opening gambit from the Republican right.
no your right, and im by no means a republican but i was merely passing my thoughts on the economics as im trained to do so...fair enough if you disagree, but it was a non political non loyal analysis on the fundamentals dude
  • #512,916
  • Aug 6, 2011 8:57am Aug 6, 2011 8:57am
Quoting deeZG
Nice post

I'm just trying but cannot find a chinese statement made in the middle of the debt ceiling debate and possible downgrades saying that even if downgrade does happen nothing much will change. Not because China wouldn't like to change the way things are (buying US treasuries) but simply because there is no other option. Statement was something like (i'm paraphrasing): it's still the most reliable thing to do.

thanks
its funny because the chineese are telling everyone how much money they're expecting to loose from a $ fall ha..
  • #512,917
  • Aug 6, 2011 8:58am Aug 6, 2011 8:58am
Quoting ukdaytrader
Having good economic reasons to downgrade never presented a problem to the ratings agencies before, did it.
This is a fantastic pre-election opening gambit from the Republican right.
we know what they want .... the power plays is more sensitive
  • #512,918
  • Aug 6, 2011 8:59am Aug 6, 2011 8:59am
Quoting PayTheLimit
So I always hear that FX never closes, what are the markets doing now?
martian session begins in few min....
  • #512,919
  • Aug 6, 2011 9:00am Aug 6, 2011 9:00am
guys may I ask will dollar lose further ground after the downgrade of credit rating?
  • #512,920
  • Aug 6, 2011 9:05am Aug 6, 2011 9:05am
Quoting PayTheLimit
PTL
Hello PTL,

usually off broker from , public rate from xe never been accurate off market time , i have seen 10 mins before broker open the show ~-+ 10 pips from Friday close and market end up with huge difference,

current quote for change 25k , during market time, rate usually include approx. 70 pip hidden commission, i don't know about there weekend commission.

usd -> euro 1 EUR = 1.4158 USD
euro -> usd 1 EUR = 1.4406 USD
Avg : 1.4282
public rate shows : 1.4290

oanda = 1.4277 - yes i can see bar moving
Mohan
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