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  1. #4601
    Cassandra Syndrome Cassandra Syndrome is offline
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    Quote Originally Posted by ffc View Post
    I just had a glance back at the op of this thread, which was written in June 2010. As we are now deemed to be in the midst of the greatest crisis in Europe since WW2 and the Euro is hanging by a thread, about to collapse into a bottomless cavern, can anyone explain why the Euro is still trading 10 % higher than it was back then. Why isn't the Euro falling like a stone against the dollar?
    Because since then the Federal Reserve in the US implemented another round of Quantitative Easing ($600 Billion worth) the Dollar tanked like a stone against all currencies, including the Euro. Here is the Dollar Index which is a measure of the Dollar against a basket of 12 major currencies.




    The Euro has plunged against all the other major currencies except for Sterling who did QE as well. Here is the Euro against the Yen



    Against the Swiss Franc






    Australian Dollar




    And Gold

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  2. #4602
    Dublin 4 Dublin 4 is offline
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    Quote Originally Posted by Cassandra Syndrome View Post
    Eurotron Cognitive Dissonance appearing ................5..............4.............3.... .............2.............
    How did ya pull that one of?
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  3. #4603
    Dublin 4 Dublin 4 is offline
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    Latin showdown with Germany over ECB - Telegraph

    BlackRock’s Fink Takes Aim at Societe Generale in Dispute Over ETF Risks

    EconoMonitor : Great Leap Forward EURO CRISIS IS SPREADING FROM PERIPHERY TO CENTER: The System Designed to Fail WILL Fail

    Europe is running out of time- MSN Money

    Twitter

    Has McD wandered away from Merko & Cammy on their Pub Crawl

    Twitter

    Nitey nitey McDave baiters
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  4. #4604
    Cassandra Syndrome Cassandra Syndrome is offline
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    Quote Originally Posted by Dublin 4 View Post
    How did ya pull that one of?
    My beloved trusty dogs that can sense a Skynet cyborg approaching!
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  5. #4605
    Cassandra Syndrome Cassandra Syndrome is offline
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    Spanish Bond Yields soar to 6.7%. Italian at 7.05%. France 3.8%.
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  6. #4606
    Cassandra Syndrome Cassandra Syndrome is offline
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    Spanish Bond Auction was a bloodbath. 10 Year Bonds went for 6.975%.
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  7. #4607
    Chrisco Chrisco is offline
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    Das ist nicht so gut.
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  8. #4608
    Sensible Head Sensible Head is offline
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    I've a question. What is the basis for this magic 7% number? why not 6 or 8? Why has it become a line in the sand?
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  9. #4609
    Chrisco Chrisco is offline
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    Quote Originally Posted by Sensible Head
    I've a question. What is the basis for this magic 7% number? why not 6 or 8? Why has it become a line in the sand?
    Because that is the level at which the bond market starts to doubt your ability to pay back monies borrowed at that level, which sends the yield into a death spiral to levels at which it does become impossible to pay them back...
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  10. #4610
    Cassandra Syndrome Cassandra Syndrome is offline
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    Quote Originally Posted by Sensible Head View Post
    I've a question. What is the basis for this magic 7% number? why not 6 or 8? Why has it become a line in the sand?
    Its purely arbitrary. Its a line in the sand technical level based on the charts of Greece, Ireland and Portugal where 7% was the point of no return. The bailout levels for each country vary, but once they breached 7% it was lights out.
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