Sat, Sep 10, 2011 - 12:26am
Today, the eurodollar peg crumbled, and europe began a major plunge into the final end of the status quo. The G7 had a meeting scheduled, but unfortunately for them, it's panic time. No need to fear, however, the central bankers firmly committed to printing as much money as needed in order to maintain the status quo for yet one more week. Behind them came the IMF, which committed to back them up with ~$580bn in "emergency funds" and is no doubt committed to keep those funds open "as long as necessary".
In other words, "SHEET SHEET, PRINT ZE DOLLARZ! PRINT ZE DOLLARZ!"
Although the stock market action and the ECB resignation today were moderately notable, they weren't anything really special. Rest assured, however, that the EE knows what's going down, and based on the massive global sovereign panic today, it's looking to be bigger and more exciting than anything we've seen since 2008.
Keep in mind that with the tensions so ridiculously high, the EE will be counting on the trusty CME group to drop the hammer and bail them out of a flight to PMs (yet again). Judgment Day has finally arrived folks, the final battle is here, and the EE has just fired the first shots.
Edited by: Aeonios on Nov 8, 2014 - 5:04am