EurAnalysis

I know you are worthy of the vouches. Beauty is in the eye of the beholder. I sometimes give vouchers to encourage people. You can always unvouch if need be. Nice to see your posts again.

http://www.ekathimerini.com/4dcgi/_w...02/2012_428375

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Greece awaits eurozone verdict

Athens says it has met all bailout conditions, sources suggest ECB is poised to swap its Greek bondshttp://wwk.kathimerini.gr/kathnews/images/dot_clear.gif

http://sup.kathimerini.gr/kath/engs/...ottery_390.jpg http://wwk.kathimerini.gr/kathnews/images/dot_clear.gif A woman walks past a lottery seller post during a rainy day in Athens on Thursday.</B> http://wwk.kathimerini.gr/kathnews/images/dot_clear.gif Greece believes it has met all the conditions demanded by its eurozone partners and is hoping that the Eurogroup will approve on Monday a new bailout, although there is speculation that a final decision will be taken at a special eurozone leaders’ summit in Brussels on March 2.
Government spokesman Pantelis Kapsis on Thursday confirmed that Athens had found how it would save 325 million euros, as demanded by the eurozone, and had no more loose ends to tie up. “The process for the new program and the cuts have been concluded,” he said. “There are no more economic issues outstanding.”

Kapsis denied that during a teleconference on Wednesday some eurozone finance ministers had suggested obtaining from Greece’s smaller parties a commitment to the package of austerity measures and structural reforms Parliament passed on Sunday.

Kapsis also declined to respond to a suggestion from German Finance Minister Wolfgang Schauble that Greece should postpone elections planned for April and install a technocratic government instead. “I have nothing to say in response to Mr Schauble,” said Kapsis. “It is absolutely up to Greece when to hold elections.”

Tension has grown this week between Greece and some of its eurozone partners over the conditions Athens has to meet for the next bailout of at least 130 billion euros.
Dutch Finance Minister Jan Kees de Jager added to the pressure on Greece Thursday. “We’re back at square one,” he told Dutch MPs. “Greece is in a much worse state than had been anticipated at the time.”

When eurozone leaders agreed on more help for Greece in October, the country’s debt was expected to fall to 120 percent of GDP by 2020, which was taken to be the maximum threshold. The new level is now expected to be closer to 129 percent, according to the latest study by the International Monetary Fund.

In a new development aimed at reducing this debt, the European Central Bank is set to exchange its holdings of Greek bonds into new notes ahead of a deal for private bondholders to accept a haircut, eurozone sources told Reuters Thursday.

The ECB is thought to hold 50 billion euros of Greek bonds, which it bought at a discount. A swap could reduce Greek debt by another 10-15 billion euros.
ekathimerini.com , Thursday February 16, 2012 (22:44)

whoohoo ... i didnt know everyone in here is taking that vouching stuff so serious ... 5 days ago i didnt even know what exactly a voucher is ...

reminds me of a situation where i walked with shoes into an indian kitchen ...
sorry for that buaji ... sorry for kidding at vouchers too.

i just enjoyed having an incredible postings to vouchers ratio and wanted to keep it high ... as you guys refuse to deliver i have to stop posting from here on

... have a good night ... and dont take me too serious as i am a considerable slob

Yes I noticed that too and I think thats great sir ... IMHO this type of +pos gesture by the experience traders encourages the newbie like me because when my mentor 'PT' vouched for me I felt so great , thought that now may be I can be a good trader , not great as you people are but may be one day I can also help others (newbies)...so IMO its not wrong...

vouch for ??

where only 10% of FF populas make money!

Please nothing personnel its just an opinion...

http://profile.ak.fbcdn.net/hprofile...39904266_q.jpg5:08pm Feb 16 When the market knocked the euro below 1.30 amid speculation delaying bailout payments and rumors about kicking Greece out. That speculation took a step back as the ECB took the first steps in the debt swap and officials nearly confirmed a bailout on Monday. In response, EUR/USD punched through stops to 1.3120 where it stalled early in the US afternoon before kicking toward sessin highs at 1.3150 at the end of the day.

market still in hope++fear mode.....this mean...market still uncertainty about greece....once the real result out....only we see the real corelation movement for euro!!!!!

http://www.dailymail.co.uk/news/arti...Champagne.html

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Cash in the attic! $1million in gold coins rains down from the rafters as workers renovate vineyard building in Champagne

 

1. Treasure trove of 497 coins found in former grape-drying facility in village
2. Pieces were minted between 1851 and 1928
3. Unknown how they came to be in attic but building was owned by wine producer who traded with Britain and U.S. in 1930s
   

By Graham Smith

Last updated at 4:17 PM on 16th February


Read more: http://www.dailymail.co.uk/news/arti...#ixzz1maWEWwKz

Thanks Jim Sinclair

From: WWW.JSMINESET.COM

February 16, 2012, at 7:07 am
by Jim Sinclair in the category Jim's Mailbox |
Dear Jim,
Woodrow Wilson to Obama looks almost identical to Augustus to Aurelian and took less than half as long. I wonder if they see the irony?
Hamish G
Emperor Silver Content in the DenariusAugustus (27 BC – 14 AD)about 97%Nero (54 – 68)90%Trajan (98 – 117)85%Marcus Aurelius (161 – 180)75%Septimus Severus (193 – 211) and Caracalla (198 – 217)50%Traianus Decius (249 – 251)40%Gallienus (253 – 268)20-25%Aurelian (270 – 275)2%

Obama wants cheaper pennies and nickels
By Chris Isidore | CNNMoney.com
The U.S. Mint is facing a problem — especially during these penny-pinching times. It turns out it costs more to make pennies and nickels than the coins are worth.
And because of that, the Obama administration this week asked Congress for permission to change the mix of metal that goes to make pennies and nickels, an expensive recipe that has remained unchanged for more than 30 years.
To be precise, it cost 2.4 cents to make one penny in 2011 and about 11.2 cents for each nickel.
More….

http://www.financialsense.com/contri...-management%20

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The economy will expand if you believe it is expanding--because you'll be "animal spirited" into buying a lot of stuff on credit that you can't afford.

It all boils down to perception--that's the insight at the heart of the Grand Game of Perception Management. Economists speak of magical "animal spirits" that fuel economic expansion, but this is simply a colorful term for perception management: when people perceive others reaping outsized gains in profits or pleasure from taking risky bets and freely spending borrowed money, then they will feel an overpowering urge to follow the herd and leverage their capital (if any) and disposable income (if any) into risky bets and zealous over-consumption, i.e. "animal spirits."
Conversely, when said risky bets blow up and participants have lost their ever-lovingderrieres by following the herd, then "animal spirits" quickly dissipate as the herd thunders off a cliff to its financial demise.

The task of the financial/political/media Status Quo is to convince Americans to overlook the abundant evidence of economic deterioration and focus on heavily juiced "evidence" of robust "growth."

The game plan is this: if the Status Quo can convince you that the economy has righted itself and from here on in everything will get better and better, every day and in every way, then we will abandon financial rationality and start buying homes we can't afford on credit, cars we can't afford on credit and boatloads of stuff from China that we don't need on credit (of course looking cool is a "need," i.e. having an iPad to carry around).

"Perception management" can be usefully shortened to a one-syllable word: "con." The confidence-man's most basic tool is to create the surface sheen of success with minimal investment of time and capital. Thus the con-man buys a couple of designer suits, rents a cubbyhole office with a prestigious address, leases a 500-series Mercedes vehicle, counterfeits some [COLOR=blue !important][COLOR=blue !important]diplomas[/color][/color] or other signifiers of Elite status and achievement, and then goes to work conning his credulous marks.
This exactly describes the strategy being pursued by Ben Bernanke, Tim Geithner, the financial media, and America's scabrous political class. Consider one of the Status Quo's most valuable cons, the unemployment rate as calculated by the Bureau of Labor Statistics (BLS).

If we look at this chart from the St. Louis Federal Reserve, we see that employment--the actual number of people with jobs, as opposed to those who are without jobs--we see that the number of people with jobs has declined recently and is now at the same level of 3rd quarter 2009, a few months after it was officially declared that the recession had ended.

The official unemployment rate was 10% in October 2009, when about 140 million people were found to have some sort of job, and now that the same number of people have been found to have some sort of job (140 million), the unemployment rate is now only 8.3%, even though the nation has added roughly 6 million residents to the workforce.

Huh? How can 140 million jobs generate an unemployment rate of 10% in 2009 and 8.3% in 2012 while the workforce and population have grown by 6 million? If anything, the unemployment rate should be higher, since the number of people with jobs has held steady while the number of people without jobs has expanded.

http://imagesize.financialsense.com/...oyment2-12.jpg

default Bottarelli Tuesday, February 14, 2012
First page <<
Lucas Papademos (Photo Imagoeconomica) Learn GEOFINANZA / The rally in the stock markets? A bluff that has to do with Greece ..., M. Bottarelli FINANCE / The Expert: I explain why the deal-save Greece will not prevent the default, int. to E. Colombo vai the special Crisis Greece said that, we can say that these tools are more than bonds issued by the greek government. More specifically, are very similar to what economists call "quasi-money", a situation not new and indeed used every time a government had to seek an outlet by the rigidity of nominal tax over a financial dispute. In most cases, this happens to belong to a monetary union that governments can not print money to finance the deficit. In short, the "pharma-bonds" issued by Iou lot like the Schwarzenegger of California in 2009, when the state had no money to pay vendors and employees. The same, more or less, even though he did Argentina, which during the debt crisis created vehicles "quasi-money" when they literally had to stop creating money. In the present case greek, then, the "pharma-bonds" does not usually appear "money-like", since they can be deposited with a bank, which may place them as collateral as collateral to obtain cash.

So, theoretically if a country issues a bond as a refund, even temporarily, for a supplier, in that case there is no withdrawal of money from the private sector, since no one buys quell'obbligazione through cash. It is a form of exchange, barter in which a vendor provides goods to government administration and receives in return a financial instrument created from nothing by the government. In short, as tortuous, there is little difference by printing new money in Greece. But there is an alternative plan to the government's official Papademos, or honor the requests of the troika to get the 130 (actually, 145) billion in new bailout plan, it is rumored for days, since knowledge of the sources to confirm as the Hellenic Ministry of Finance is considering is the default, followed by what in the world of business is called DIP or debtor in possession financing, or obtain a loan post-bankruptcy, which is very complicated in case of a sovereign default, seen that an investor would require ad hoc, or willing to finance a country that has just ceased to repay existing debt.

Who could it be? Certainly not the IMF or the ECB, which may even prevent serious direct losses in the event of default, but maybe some rich Arab country or China, for some time very active in Greece in shopping infrastructure (airports and ports) and utilities price balance, given that Athens has to sell at any price to cash as requested by the troika and Beijing is full of reserves and assets of willing unskilled, but with high potential, and above all partners more closely tied to her (the eurozone is already the largest market for Chinese exports). So, to Athens a direct partnership with Beijing would mean funding post-default and a policy of selling strategic assets at low prices some, but still better than those that may offer and pay the European partners. Moreover, China has enough money not only to modernize and improve facilities that purchase, but also for investments that will mean jobs and growth for Greece.

http://goldswitzerland.com/index.php...february-2012/


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What do you think in particular about Warren Buffett’s constant “Gold is in a bubble, I go for stocks“ talk? Does he serve here as an influential opinion maker in a specific role because he gets a lot of public attention? In other words: is he a fool or does he only act like a fool? (5)
John Embry: Warren Buffet sold out a long time ago. It’s too bad because he was a great stock picker once. Now he owns insurance companies, Wells Fargo and was a buyer of Goldman Sachs and G.E. in the global financial crisis. He is a member of the American establishment and has a lot to lose. He should have listened to his father Howard Buffett who was a U.S. Congressman and a true “hard money” advocate.

In your view, gold will gain in importance as a monetary asset in the years ahead, likely regaining an official role in the world’s financial system. Why do you think so?
John Embry: I think that the current financial system, as we know it, will be totally destroyed, probably sooner rather than later. The next system will require gold backing to have any legitimacy. This has happened many times in history

By Lars Schall
http://goldswitzerland.com/wp-conten...2/jembryid.jpg
An industry expert in precious metals, his experience as a portfolio management specialist spans more than 45 years: John Embry, the chief investment strategist at Sprott Asset Management. He began his investment career as a Stock Selection Analyst and Portfolio Manager at Great West Life. Mr. Embry then became a Vice President of Pension Investments for the entire firm. After 23 years with the firm, he became a Partner at United Bond and Share, the investment counseling firm acquired by Royal Bank in 1987. Afterwards he was named Vice-President, Equities and Portfolio Manager at RBC Global Investment Management, a $33 billion organization where he oversaw $5 billion in assets, including the Royal Canadian Equity Fund and the Royal Precious Metals Fund. In March 2003 Mr. Embry joined Sprott Asset Management with focus on the Sprott Gold and Precious Minerals Fund and the Sprott Strategic Offshore Gold Fund Ltd. He plays an instrumental role in the corporate and investment policy of the firm.

http://ca.news.yahoo.com/hopes-rise-...010154627.html

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"SHEER BLACKMAIL"

Some points remain unresolved. Kapsis said the issue of an escrow account to ringfence funds for debt payments had not been agreed, while a German coalition source said more work was needed on how to monitor Greece's efforts to cut spending.

Euro zone finance ministers must also consider on Monday a report by the European Commission, the European Central Bank and the International Monetary Fund which predicts Greek debt will be around 129 percent of GDP in 2020, well above a target of 120 percent set in October.

Several officials have said a target of 125 percent would be acceptable to most euro zone members - and possibly also to the IMF - but measures will be needed to get it somewhat lower.

Ideas include the euro zone cutting the interest rate on its existing bilateral loans to Greece; increasing its current offer of 130 billion euros of government financing; and asking private investors to agree to bigger losses.

A further option is for the ECB to forego profits on Greek bonds it holds in its portfolio and to re-sell them to the euro zone's bailout fund, the European Financial Stability Facility (EFSF), at the same discount it bought them on the market.

Earlier, faced with calls for closer scrutiny of Greece's implementation of the deal, one Greek cabinet member accused the European Union of "sheer blackmail."

"Any other intervention, any new demands by our lenders, will mean they are mocking the country," Public Order Minister and former EU commissioner Christos Papoutsis said.

"Some in Europe forget that behind the numbers are people," Papoutsis said. Union leaders called for a new rally on Sunday "to answer all those who want Greece under German occupation."
(Editing by Andrew Roche)

Kno's Comments: More Riots Ahead ???

http://ca.news.yahoo.com/photos/-lin...nto-slideshow/

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'Lin-sanity' in Toronto

Canadian basketball fans flocked to the ACC to see Jeremy Lin, the NBA's newest star, as the New York Knicks took on the Raptors on Valentine's Day. Lin hit the game-winning shot to lift the Knicks of the Raps 90-87.

Hey guys, been a bit bored the last couple of weeks as i made it my decision not to trade or touch the EUR/USD pair till some kind of solution and/or final conclusion to this Greek bailout mess. Will carry on to wait this final saga come to its end even if it drags on till April, no matter what kind of moves i may miss. Its just too unpredictable with ECB announcements coming in and taking the pair from a down movement of 100 pips or more and moving it up over 150 pips in less than 4 hrs. Therefore, in order to trade something and not lose my mind twiddling my thumbs and concentrating for now on the AUD/USD till some light is shed on the Greek situation.

I wish you all happy and successful trading!

I totally agree with you. EURUSD has been lately quite unpredictable and moved too much by rumors. I like the volatility and liquidity though, since it fits well to my robots. They are making steady ~1% a day cumulatively to capital so I still stick with this - if it works, don't fix it.

I feel the same. About me that is. I know a lot but am I a good trader? Maybe not yet but in due time I will be.

Tada...!

market and also eurusd is reacting very possitively to recent UK retail sales, imho very good number, but it is accounting only for 7-8% of UK output....

so i would not overemphasise the importance of this number in isolation.

I will try to sell @ 1.3185 and @ 1.3220 with stops @ 1.3240

Boring EUR/USD .... Awww... I thought I am not trading well... But prob seems to be with pair n not me