Posts by "xaron"

The US will get its own "Greece" stuff in a few months latest. The "safe haven" status of the Dollar will be history. That can become really ugly. I think Gold might be the best insurance against and FIAT money.

"Even according to the White House's new budget projections, the gross federal debt in public hands will exceed 100 per cent of GDP in just two years' time. This year, like last year, the federal deficit will be around 10 per cent of GDP. The long-run projections of the Congressional Budget Office suggest that the US will never again run a balanced budget. Thats right, never."

( from: Niall Ferguson: A Greek crisis is coming to America -http://www.ft.com/cms/s/0/f90bca10-1679-11df-bf44-00144feab4
9a.html )

You are right, I was wrong with those calls. :) But I stick to my view that this Greece thing is way too exaggerated. The Euro is called dead since it's started a decade ago. Indeed it is THE success story of a new currency. The only reason why the Dollar is still alive is its reserve currency status and Oil. Beside that it isn't worth anything at all anymore. The Euro is in big trouble as well but all in all it's the Anti-Dollar and with that in background it must gain especially as the ECB has no chance against the printing press of the FED which is NOT interested in a strong Dollar...

PippedOff, you must use some scary leverage if you are scared about ever 6 pips here and there noise...

The Aussie will go above parity sooner or later, not only because of its strong fundamentals but because of the days of the Dollar are over (well, actually that may take some years... :D )

That report can only result in one direction which is down.

And this was from Chuck a few days ago:

"Did a bit of research for you and .... Calif's economy is about $1.6 Trillion (as of Jan 2007), according to US Dept of Commerce. US economy, according to CIA fact book, is about $14.25 trillion on 2009 estimates.
Thus, Calif is about 11% of the US economy - roughly speaking, given that the dates are slightly mismatched, and who knows how accurate these Gov't organizations are.
But any event, it's clearly much bigger than Greece's impact on the EU."

So... California, which I would consider to be bankrupt, I mean for crying out loud, the state sent IOU's to people last year instead of cash for their tax returns, is 11% of the U.S. problem... But we have to add to that, the research we went through above... The states of New York, Michigan, Illinois, and so on! This is a debt debacle folks!

Now... I'm not saying that the PIGS problem isn't a big deal... It is! But bigger than the U.S. problem? NO!

So... The dollar should not be rewarded... And neither should the euro... But the problem here is that these are the two most liquid currencies in the world... So, the normal trade is the sell one, and buy the other, as they are the offset currencies to each other... So... I would think that you would take the lesser of two evils, don't you?"