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EurAnalysis Kindergarten 24 replies

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  • #39,641
  • Jun 25, 2012 3:45pm Jun 25, 2012 3:45pm
European Economic Uncertainty Looms Over The Market

http://www.fundamentalforexoutlook.c...ek-samaras.jpg
by Henry Liu on June 25, 2012
(EU) Upcoming EU summit is going to be held on June 28/29. Top Greek government officials have been ruled out from attending as new PM Samaras is said to be recovering from eye surgery while Fin Min Rapanos is in the hospital since Friday due to stomach ailments. As a result, the return of the Troika inspectors is being delayed, giving European leadership some time to pour over the Greek coalition policy letter asking lenders to roll back some of the conditions of austerity. Specifically, the request would see: The Greek Government renege on plans to cut 150K public sector ...
  • #39,642
  • Jun 25, 2012 3:48pm Jun 25, 2012 3:48pm
Quoting HombreAlto
Probably the greatest song ever written....how else could you get that great a line in a song??

Heh, builder, I warned you that you need to get around the jokes.

And apologies to Dr Zak, forgot to mention him in my post, but builder you must read him.
now i feel so much better and lighter
Allah has permitted trade and has forbidden interest [koran]
  • #39,643
  • Jun 25, 2012 3:48pm Jun 25, 2012 3:48pm
I'm out of my long U/C position by the way guys.
Watch it tank now.. I'm heavy on the downside all the way below 1.0190
  • #39,644
  • Jun 25, 2012 3:52pm Jun 25, 2012 3:52pm
Quoting drzakir123
now i feel so much better and lighter
Doc, you are way above that!!

All best wishes and many more green pips to you and green posts from you.
  • #39,645
  • Jun 25, 2012 3:53pm Jun 25, 2012 3:53pm
Alchemy By Other Means
Jun 25, 2012 08:00 am by Thomas Paine posted in Economics, Fiat Currency, Thomas Paine

http://www.mises.ca/wp-content/uploa...ey-300x225.jpgReprinted from Lapham’s Quarterly, originally written in 1786 and appeared in The Complete Writings of Thomas Paine

I remember a German farmer expressing as much in a few words as the whole subject of paper money requires: “Money is money, and paper is paper.” All the invention of man cannot make them otherwise. The alchemist may cease his labors, and the hunter after the philosopher’s stone go to rest, if paper can be metamorphosed into gold and silver, or made to answer the same purpose in all cases.

Gold and silver are the emissions of nature: paper is the emission of art. The value of gold and silver is ascertained by the quantity which nature has made in the earth. We cannot make that quantity more or less than it is, and therefore the value being dependent upon the quantity, depends not on man. Man has no share in making gold or silver; all that his labors and ingenuity can accomplish is to collect it from the mine, refine it for use, and give it an impression, or stamp it into coin.

Its being stamped into coin adds considerably to its convenience but nothing to its value. It has then no more value than it had before. Its value is not in the impression but in itself. Take away the impression and still the same value remains. Alter it as you will, or expose it to any misfortune that can happen, still the value is not diminished. It has a capacity to resist the accidents that destroy other things. It has, therefore, all the requisite qualities that money can have and is a fit material to make money of, and nothing which has not all those properties can be fit for the purpose of money.

Paper, considered as a material whereof to make money, has none of the requisite qualities in it. It is too plentiful, and too easily come at. It can be had anywhere, and for a trifle.

There are two ways in which I shall consider paper.

The only proper use for paper in the room of money is to write promissory notes and obligations of payment in specie upon. A piece of paper, thus written and signed, is worth the sum it is given for, if the person who gives it is able to pay it, because in this case the law will oblige him. But if he is worth nothing, the paper note is worth nothing. The value, therefore, of such a note is not in the note itself, for that is but paper and promise, but in the man who is obliged to redeem it with gold or silver.

Paper, circulating in this manner, and for this purpose, continually points to the place and person where, and of whom, the money is to be had, and at last finds its home; and, as it were, unlocks its master’s chest and pays the bearer.

But when an assembly undertakes to issue paper as money, the whole system of safety and certainty is overturned, and property set afloat. Paper notes given and taken between individuals as a promise of payment is one thing, but paper issued by an assembly as money is another thing. It is like putting an apparition in the place of a man; it vanishes with looking at, and nothing remains but the air.

Money, when considered as the fruit of many years’ industry, as the reward of labor, sweat, and toil, as the widow’s dowry and children’s portion, and as the means of procuring the necessaries and alleviating the afflictions of life, and making old age a scene of rest, has something in it sacred that is not to be sported with, or trusted to the airy bubble of paper currency.

By what power or authority an assembly undertakes to make paper money is difficult to say. It derives none from the constitution, for that is silent on the subject. It is one of those things which the people have not delegated, and which, were they at any time assembled together, they would not delegate. It is, therefore, an assumption of power which an assembly is not warranted in, and which may one day or other be the means of bringing some of them to punishment.

One of the evils of paper money is that it turns the whole country into stockjobbers. The precariousness of its value and the uncertainty of its fate continually operate night and day to produce this destructive effect. Having no real value in itself, it depends for support upon accident, caprice, and party, and as it is the interest of some to depreciate and of others to raise its value, there is a continual invention going on that destroys the morals of the country.

It was horrid to see, and hurtful to recollect, how loose the principles of justice were let, by means of the paper emissions during the war. The experience then had should be a warning to any assembly how they venture to open such a dangerous door again.
As to the romantic, if not hypocritical, tale that a virtuous people need no gold and silver and that paper will do as well, requires no other contradiction than the experience we have seen. Though some well-meaning people may be inclined to view it in this light, it is certain that the sharper always talks this language. There are a set of men who go about making purchases upon credit and buying estates they have not wherewithal to pay for, and having done this, their next step is to fill the newspapers with paragraphs of the scarcity of money and the necessity of a paper emission, then to have a legal tender under the pretence of supporting its credit—and when out, to depreciate it as fast as they can, get a deal of it for a little price, and cheat their creditors; and this is the concise history of paper-money schemes.

But why, since the universal custom of the world has established money as the most convenient medium of traffic and commerce, should paper be set up in preference to gold and silver? The productions of nature are surely as innocent as those of art, and in the case of money, are abundantly, if not infinitely, more so. The love of gold and silver may produce covetousness, but covetousness, when not connected with dishonesty, is not properly a vice. It is frugality run to an extreme. But the evils of paper money have no end. Its uncertain and fluctuating value is continually awakening or creating new schemes of deceit. Every principle of justice is put to the rack, and the bond of society dissolved: the suppression, therefore, of paper money might very properly have been put into the act for preventing vice and immorality.



Thomas Paine (1737–1809) was an English pamphleteer, revolutionary, radical, and classical liberal. Born in the market town of Thetford, England, he migrated to the American colonies at the age of 37, just in time to take part in the American Revolution. His main contribution was as the author of the powerful, widely read pamphlet, “Common Sense” (1776), advocating independence for the American colonies from Great Britain. He is also known for “The American Crisis” (1776–1783), a series of pamphlets supporting the American Revolution, and “The Rights of Man” (1791) defending the early French Revolution.
  • #39,646
  • Jun 25, 2012 3:54pm Jun 25, 2012 3:54pm
Quoting D2tz
I'm out of my long U/C position by the way guys.
Watch it tank now.. I'm heavy on the downside all the way below 1.0190
What's that based on? I don't see it tanking at all. In fact I see lots more upside in the medium term. My rationale is the same as when I took the trade originally.

Quoting PipTrapper
lol. No not yet. U/CAD has excellent bullish structure.
Here is what I posted yesterday...

Yes I believe USD/CAD has excellent bullish structure and that the fundamentals are behind me on this.

I see oil falling to below $80 based on no QE and low demand.
I see lower Gold based on no QE and lower demand in India
CAD is correlated to oil and gold
Bad housing sector in Canada (Bubble about to burst in Toronto)
High CAD is bad for Canadian manufacturing sector and is not doing well.
BOC will not be raising rates any time soon.
Lower USD GDP projections means lower GDP for Canada also (US is Canada's largest trading partner)
Steven Harper is a faggot

There are also technical reasons:
Falling wedge breakout imminent
Bullish divergence on H4
Bullish Hidden divergence on Daily
55 day ema support

Those who say it cannot be done should not interrupt those who are doing it
  • #39,647
  • Jun 25, 2012 3:56pm Jun 25, 2012 3:56pm
Quoting PipTrapper
I think it is

Look...

http://4.bp.blogspot.com/_27mZCTZXIP...0/hole%2B1.jpg
LMAO
  • #39,648
  • Jun 25, 2012 3:57pm Jun 25, 2012 3:57pm
Quoting Cgb
Hey, did you know there's a thousand holes in Albert Hall?

http://www.youtube.com/watch?v=P-Q9D4dcYng
Dang bro. You went old school on us.

Btw- The real Paul McCartney died in 1966. That album paid tribute to him with hidden clues on cover.
  • #39,649
  • Jun 25, 2012 4:02pm Jun 25, 2012 4:02pm
Quoting Tom_D_Trader
Hey, I have seen one guy at EURUSD thread saying kids at FF are moving the market since all the big boys are reading FF.

T
wow, thats mean traps anywhere :O better dont post analysis again.. loll
redsword11, IfMyante, KennyZ, bumapatria, JohnPaul77 made my trading style.
  • #39,650
  • Jun 25, 2012 4:04pm Jun 25, 2012 4:04pm
Quoting FXSwissTrader
Dang bro. You went old school on us.

Btw- The real Paul McCartney died in 1966. That album paid tribute to him with hidden clues on cover.
The real Paul McCartney died in 1966
Those who say it cannot be done should not interrupt those who are doing it
  • #39,651
  • Jun 25, 2012 4:06pm Jun 25, 2012 4:06pm
Quoting FXSwissTrader
Dang bro. You went old school on us. Btw- The real Paul McCartney is dead. That album paid tribute to him.
Sorry to disappoint you Swissie but i saw him in the flesh oustside Buckingham Palace last week and while not quite the Paul McC of old it was definitely him.

And congrats on your pip harvesting of the last few trading days - quality stuff.



AND, my wife has just finished making the curtains for his new house - should I be worried that the cheque is signed "J Lennon"??
  • #39,652
  • Jun 25, 2012 4:10pm Jun 25, 2012 4:10pm
Quoting PipTrapper
What's that based on? I don't see it tanking at all. In fact I see lots more upside in the medium term. My rationale is the same as when I took the trade originally.
purely technical. price got rejected at 1.0315
I see this following it's bearish channel on the 4h. confirmation lies under 1.0250 in my opinion. but I like to get ahead and take position on "pre-confirmations". Yes, I invented that word
  • #39,653
  • Jun 25, 2012 4:15pm Jun 25, 2012 4:15pm
Quoting PipTrapper
The real Paul McCartney died in 1966
  • #39,654
  • Jun 25, 2012 4:17pm Jun 25, 2012 4:17pm
Quoting PipTrapper
The real Paul McCartney died in 1966
If we keep making references to "old material" we will surely expose our true age. Yikes
I observe your reality but live my own.
  • #39,655
  • Jun 25, 2012 4:18pm Jun 25, 2012 4:18pm
Quoting HombreAlto
Sorry to disappoint you Swissie but i saw him in the flesh oustside Buckingham Palace last week and while not quite the Paul McC of old it was definitely him.

And congrats on your pip harvesting of the last few trading days - quality stuff.



AND, my wife has just finished making the curtains for his new house - should I be worried that the cheque is signed "J Lennon"??
As long as it's not signed "The Walrus", you're okay!
I observe your reality but live my own.
  • #39,656
  • Jun 25, 2012 4:18pm Jun 25, 2012 4:18pm
Quoting D2tz
purely technical. price got rejected at 1.0315
I see this following it's bearish channel on the 4h. confirmation lies under 1.0250 in my opinion. but I like to get ahead and take position on "pre-confirmations". Yes, I invented that word
Okay fair enough, but I guess I have a different view on it. Check it out.

USD/CAD H4
Attached Image (click to enlarge)
Click to Enlarge Name: uc-h4.gif Size: 48 KB
Those who say it cannot be done should not interrupt those who are doing it
  • #39,657
  • Jun 25, 2012 4:19pm Jun 25, 2012 4:19pm
Quoting Cgb
As long as it's not signed "The Walrus", you're okay!
  • #39,658
  • Jun 25, 2012 4:22pm Jun 25, 2012 4:22pm
Good night all.

http://www.rawstory.com/images/other...ping100407.jpg
Those who say it cannot be done should not interrupt those who are doing it
  • #39,659
  • Jun 25, 2012 4:24pm Jun 25, 2012 4:24pm
Quoting PipTrapper
Okay fair enough, but I guess I have a different view on it. Check it out.

USD/CAD H4
Attachment
I took my position with a very similar chart, nearly identical. however, I took this position on the basis of a ranging market. and a projection that trade will naturally take this lower. but I'm biased as a canadian importer.
  • #39,660
  • Jun 25, 2012 4:26pm Jun 25, 2012 4:26pm
Quoting D2tz
purely technical. price got rejected at 1.0315
I see this following it's bearish channel on the 4h. confirmation lies under 1.0250 in my opinion. but I like to get ahead and take position on "pre-confirmations". Yes, I invented that word
One could argue that we have a slanted inverted head and shoulders...
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD_Jun25_1723.gif Size: 110 KB
I observe your reality but live my own.
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