Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: carranza2 who wrote (73362)	5/6/2010 4:29:33 PM
From: Haim R. Branisteanu	1 Recommendation Read Replies (2) of 74559

I really do not know implied volatility went to over 24% on the EUR/USD. There is no justification but I think many really think that this is the end of the EUR, at a time that actually the USD is in much bigger trouble IMHO. I suspect we are in a trade war between the EU and the US that is reflected trough the financial markets. All the talk about the USD not being the reserve currency last year was a signal that the US MUST do something – and the something was piling up on the PIIGS and finding the country that is easiest to destroy – which is Greece - a small country with stubborn population – if not for their stupid pride and sheer stupidity they would have been able to avoid the whole issue. Merkel was and is right as is Sarkozy, the dominance of US Banks MUST be removed from financial markets and they are and where the root of the world financial problems. A bank must be a bank and not a broker and a speculator and purveyor of complex financial instruments. The WS model is inherently not healthy for the society at large and most European banks joined in to compete and the plague got to be worldwide. The losses inflicted by WS worldwide is in the trillions. Millions lost their savings The world needs boring simple financial markets and not hot shots that dream up scheme and derivatives which have no purpose except speculation and enrich those that create them The issue of Greece debt and the continuing be littering of Portugal Spain and Italy hit a nerve in Europe IMHO – WS wanted to copy Soros strategy but this time there was ALL US banks piling on the PIIGS trough the debt markets and the rest of smaller players joined in. The EU saw as a blessing the lower EUR but forgot that there is a price to pay and this is through the higher interest rates. All things aside also it seems that Greece wants to secede and stick it to the European banks which hold most of their debt

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