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This is important article, enjoy!
ECB Allows Irish Central Bank to Counterfeit 51 Billion Euros
Record Sea Ice Caused By Global Warming
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In 2014, NOAA explained that record high levels of Antarctic sea ice were
caused by global warming. “So as counterintuitive as expanding winter
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6 hours ago
2 comments :
Little bit late in responding, but the markets have discounted this. They have discounted whatever ruckus is coming out of Ireland's election. And they discounted Spain taking off its open market auction in favour of a syndicated bond. The catalyst for the last up movement in the Euro was the Chinese stepping in to buy the 1.1 billion dollars of Portugese debt. I think the Euro will continue to appreciate and discount things until the next major downmove on some news.
The pattern for the last year has been major catalyst down - Greece, Ireland. And then when negative sentiment has hit highs, reversal and discounting of negative news and of fundamentals.
Mark.
Hi Mark,
Yes but I would put it using slightly different words:
"Fake bond markets discounted troubles pushing fake currency up due to Chinese government kindly buying some garbage European bonds off their hands".
This the problem: we do not have a real free market for bonds if all transactions consist of one central bank selling some paper to another.
Without a real market (for bonds) it is impossible to gauge their value, without true valuation it is impossible to value the currencies' exchange rates. Which is good news for governments because they can make it appear "worth" whatever they say.
But they will not prevail or last very long because _we_ who know how to work and build, can survive without their paper while _they_ cannot survive without our support and compliance. I lived through that under communism in the Eastern Europe. I can recognize the (same) symptoms of decay and the same type of characters among their elites, playing exactly the same roles, although under different decorations. The play is titled "They and Us", and that division was their choice, not ours. 8-:)
Stan
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