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European Wipeout Continues: EURUSD $1.24 And Falling, PLN And HUF Plunging, Carry Unwind Accelerates

 
aVian
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05/14/2010 07:05 AM
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European Wipeout Continues: EURUSD $1.24 And Falling, PLN And HUF Plunging, Carry Unwind Accelerates
European Wipeout Continues: EURUSD $1.24 And Falling, PLN And HUF Plunging, Carry Unwind Accelerates
Submitted by Tyler Durden on 05/14/2010 05:35 -0500

10b5-1

As of early this morning, all of Europe is plunging, not just the euro but all non EMU currencies as well: the EURUSD was in the mid 1.24 range, the GBPUSD is about to breach 1.45, while the Polish Zloty and Hungarian Forint are tumbling. Guess who is up: Gold, surging by over 1.2%, and at $1,245 at last check. The LBMA attempt to contain gold has failed and the market is preparing for a second assault on the $1,250 big resistance, whose take out will next take gold to $1,500. And while Greece is striking again, now the European core is accelerating the squeeze of the periphery: Romania is slashing its government budgets by 25%, and its pensions by 15%, which has resulted in immediate protests. We expect to see many more signs that the Greek contagion is only now spilling over into the social sphere.

Here are the relevant currency heatmaps:

[link to www.zerohedge.com]
"When plunder becomes a way of life for a group of men living together in society, they create for themselves, in the course of time, a legal system that authorizes it and a moral code that glorifies it."
- Frédéric Bastiat

food, water, ammo, weapons, battery back up solar, hand well pump, wood stove and 1 year of food...oh yeah PM's too...good luck
aVian (OP)

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05/14/2010 07:54 AM
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Re: European Wipeout Continues: EURUSD $1.24 And Falling, PLN And HUF Plunging, Carry Unwind Accelerates
dont be long the euro this weekend

go to cash or gold mining juniors
"When plunder becomes a way of life for a group of men living together in society, they create for themselves, in the course of time, a legal system that authorizes it and a moral code that glorifies it."
- Frédéric Bastiat

food, water, ammo, weapons, battery back up solar, hand well pump, wood stove and 1 year of food...oh yeah PM's too...good luck
Punk A$$ets

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05/14/2010 07:58 AM

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Re: European Wipeout Continues: EURUSD $1.24 And Falling, PLN And HUF Plunging, Carry Unwind Accelerates
I'm buying coins from the eurozone and the UK like crazy. Its not just the euro.

the GBP has dropped considerably as well.

[link to finance.yahoo.com]

Last Edited by Punk-A$$ets on 05/14/2010 07:58 AM
Gold Prices:

12/31/2000 - $273
12/31/2005 – $516
12/31/2010 - $1,421
12/31/2011 - $1,566
12/31/2012 - $1,676
12/31/2013 - $1,204

Looking for $900/$1100 for gold to bottom. $14-$16 for silver.
aVian (OP)

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05/14/2010 08:44 AM
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Re: European Wipeout Continues: EURUSD $1.24 And Falling, PLN And HUF Plunging, Carry Unwind Accelerates
I'm buying coins from the eurozone and the UK like crazy. Its not just the euro.

the GBP has dropped considerably as well.

[link to finance.yahoo.com]
 Quoting: Punk A$$ets



does the world government want parity amongst the major currencies?

dunnno
"When plunder becomes a way of life for a group of men living together in society, they create for themselves, in the course of time, a legal system that authorizes it and a moral code that glorifies it."
- Frédéric Bastiat

food, water, ammo, weapons, battery back up solar, hand well pump, wood stove and 1 year of food...oh yeah PM's too...good luck

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