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SKB is now following Duuuuuude
Jun 15, 2010
Looks like not even currency markets are safe anymore.... Wonder when else they meddled?
Toggle Commented Apr 1, 2010 on SPY : Triangle 2 ! at ETF CORNER
1 reply
I tend to agree with your chart. I think a move to 1.43 will take more time though, if it happens at all. The Euro has lost image and strength in the last few weeks due to issues of its own, so any move against the dollar would be strenuous IMO.
Toggle Commented Mar 30, 2010 on FXE : Moving up ? at ETF CORNER
1 reply
I'm not a currency expert but I saw this post on Slope of Hope today: Excerpt: The critical distinction between printing press and credit is rarely discussed: is money literally being printed or is it credit-based? The distinction has profound consequences. If a government prints stacks of currency and then distributes the freshly conjured money via helicopter drops (in the visually compelling imagery of Fed Chairman Ben Bernanke's famous "helicopter drop" quip), then the money supply has been expanded and distributed into the economy where it then leads to inflation if the production of goods and services lags money growth. But if a government--for instance, the U.S. Treasury--prints bonds and sells those bonds to raise cash to distribute in the economy, that is not "printing money." The Treasury bonds are traded for cash presented by purchasers; the money already exists and is simply being transferred to the State for distribution into the economy. If money is being created via the magic of fractional reserves (that is, via bank credit), then it does not flow into the economy if those banks do not lend it and if consumers do not borrow it. As Mish has repeatedly observed, banks cannot be forced into lending nor consumers into borrowing. It seems the money "created" by the Federal Reserve and lent to private banks at near-zero interest rates is simply sitting in the banks as reserves to offset their continuing horrendous losses. As a result, it is not flowing into the economy, and thus it cannot trigger inflation. In contrast, a State such as Zimbabwe does run its printing presses to create money, and this explains why it suffers from hyper-inflation. It can be argued that the billions of dollars the Fed orders into existence and then trades for Treasury bonds (i.e. to buy T-Bills) is in fact "freshly created money" that flows into the economy via Federal deficit spending. True, but then the question becomes, do these purchases of Treasuries add enough to the $13 trillion U.S. economy to offset the reduction in credit as people and businesses either pay down debt or write off uncollectable/bad debt? There is much more in the post, rather long
Toggle Commented Mar 25, 2010 on Virtual Insanity. at ETF CORNER
1 reply
I'm not sure I can agree with you that the fact that Germany's insistence on IMF involvement in any assistance for Greece is a sign of weakness or anxiety. Rather, I think it is the realization that an EU bail-out to Greece would do more economic and political damage than a request from Greece for external assistance or even a default on its obligations. Germany does not stand alone in its thinking, Italy, the Netherlands and Finland are also inclined to send Greece to the IMF if it needed help. The EU has a strict "no bail-out" rule, breaking it would tarnish the EU's credibility and show a lack of resolve to follow it's own rules. A bail-out to Greece would 'open a whole can of worms', effectively removing incentive/ accountability from any other "EURO nation" to maintain or strive for fiscal responsibility. Also, to bundle Greece's debt with the rest of the Eurozone would, I think, seriously damage the respectability and strength (what's left of it) Euro and probably weaken it to a point of no return.
Toggle Commented Mar 24, 2010 on FXE : Step by step ..... at ETF CORNER
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W/o a topnotch charting program this still looks a lot like cup and handle, would you agree? Might have to look on the upside tomorrow.
Toggle Commented Mar 22, 2010 on SPY : THINK !!!!! at ETF CORNER
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Well, off to a good start! Happy birthday!
Toggle Commented Mar 19, 2010 on Happy Birthday to me ! at ETF CORNER
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Worse things have been done in the name of 'progress'
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In a broad sense, this looks a lot like an inverse H&S
Toggle Commented Mar 14, 2010 on FXE : EUR/USD a threat above 1.38$ ! at ETF CORNER
1 reply Effectively, he's saying sell
Toggle Commented Mar 12, 2010 on Bull "E" Coyote ! at ETF CORNER
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Looks like Dell is headed for the breakout?
Toggle Commented Mar 11, 2010 on DELL : Near the appex ! at STOCKS CORNER
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I am still confused as to their origin :( Are they really French???
Toggle Commented Mar 5, 2010 on EWQ : French Fries ! at ETF CORNER
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Since PHYS is a closed end fund with a once a month redemption it doesn't really qualify as an ETF.
Toggle Commented Mar 3, 2010 on GLD : Two rising wedges ? at ETF CORNER
1 reply
SKB is now following The Typepad Team
Mar 3, 2010