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Strategies & Market Trends : The coming US dollar crisis -- Ignore unavailable to you. Want to Upgrade?

To: ggersh who wrote (28192)	4/27/2010 8:58:18 AM
From: RockyBalboa	Read Replies (1) \| Respond to of 71454

Of course the yen is up on this. As suggested, EUR about to retrace friday´s move, below 1.33. And we have Tuesday,... Since our fine politicians are really undecisive about how to help and who goes first, there should be a little bit more drubbing.

To: ggersh who wrote (28192)	4/27/2010 10:47:56 AM
From: RockyBalboa	Read Replies (1) \| Respond to of 71454

Small sucker rallye in the squid. After Dutch Fund axed it! This is fast...! UPDATE 2-Dutch fund axes Goldman; not fraud charge-related * Fund says Goldman performance didn't meet expectations * Names Northern Trust as interim fiduciary manager * Follows cautious comments by Oce, Mn Services (Adds Oce, Mn Services, fund CIO comments) By Ben Berkowitz AMSTERDAM, April 27 (Reuters) - A 6 billion-euro ($8 billion) Dutch transport pension fund said on Tuesday it has dropped Goldman Sachs <GS.N> as the fund's fiduciary manager, but that its decision was not connected to fraud charges the bank faces. The chief investment officer of Pensioenfonds Vervoer said its decision to drop Goldman had nothing to do with the civil fraud charges filed April 16 against the U.S. bank, which have led some of its partners to cast a wary eye on the Wall Street heavyweight. [ID:nLDE63K10N] "This is the outcome of an evaluation study we started up already in 2009," Patrick Groenendijk told Reuters. "(This) had nothing to do with the SEC news because that only happened the Friday before last." A spokesman for Goldman Sachs in London declined to comment, saying the firm could not comment on its relationships with individual clients. The fund represents employers and employees in the goods transport, private bus, taxi, mobile crane and inland ferry sectors. It said the change followed a "comprehensive evaluation" of its four-year relationship with Goldman Sachs Asset Management International, or GSAMI. "This evaluation shows that the fiduciary management by GSAMI and the results realised therefrom, have not met the expectations of the Board," the fund said. The fund has named Northern Trust Global Advisors <NTRS.O> as interim fiduciary manager to monitor the external investment managers who oversee the assets. Groenendijk said anyone could bid for the business, including Goldman, though he acknowledged "they're not in pole position." The pension fund of printing systems maker Oce <OCEN.AS> said on April 22 it was following fraud charge developments closely because it only did business with "parties that follow prevailing laws and regulations and high ethical standards." It has asked for an explanation from Goldman, which provided Oce a copy of the response it issued after the initial SEC charges were filed. The same day, Dutch pension fund manager Mn Services said it was "not happy" about the developments around Goldman and did not rule out consequences for its relationship with the firm. (Additional reporting by Aaron Gray-Block and Harro ten Wolde; editing by Elaine Hardcastle and Andrew Callus) ((ben.berkowitz@thomsonreuters.com; +31 20 504 5011; Reuters Messaging: ben.berkowitz.reuters.com@reuters.net)) ($1=.7508 Euro) Keywords: DUTCH PENSION/GOLDMAM