I asked this a few weeks ago in a week night MTM, but no response, so I ask again -
The USD rallied last year, theoretically in part due to counter parties of derivative contracts scrambling to find USD's to settle their obligations on said contracts. As Central Banks have absorbed these contracts on their balance sheets, has it theoretically, removed the need for said counter parties to find USD, thus eliminating a major piece of fundamental support for the USD?
Generally this would have already been hedged. If not, it should have been rolled over. Net net nothing.
Perhaps interest rates at zero have an effect on "fundamental support"
PARTY! NORTH KOREA! SATURDAY NIGHT! BYOF (bring your own food)
Oct. 14 (Bloomberg) -- Some of Treasury Secretary Timothy Geithner’s closest aides, none of whom faced Senate confirmation, earned millions of dollars a year working for Goldman Sachs Group Inc., Citigroup Inc. and other Wall Street firms, according to financial disclosure forms.
The advisers include Gene Sperling, who last year took in $887,727 from Goldman Sachs and $158,000 for speeches mostly to financial companies, including the firm run by accused Ponzi scheme mastermind R. Allen Stanford. Another top aide, Lee Sachs, reported more than $3 million in salary and partnership Bloomer
The system is so corrupt, it's unbelievable. The sense of entitlement in DC & NYC defies the mind.
Sure glad all my albums went GOLD. "Ferdy-bee-bee-dee-ferbs." Subscribe & Earn Karma Miles with Every Visit! Rule #5 Professional Exemption. Blind Follower, Just Think Positive Hyperinflation, I Get Paid 500 Quadrillion Dollars/Hour at 1000% Interest/Hour Compounding Forever Each Mouse Click Religion. "I too observe 'flation.'" I love you, TASR! YOU MAKE KITTY SCARED Tops Take Time Postulate A Free Lunch Economy Anyone, now, who is not genuinely afraid is a moran. [T]housands of empty stucco crapboxes vacated after being circle-jerk sham-traded among corrupt borkers, uppraisers and loan officers from 100K up to 800K, then "nopay-walkaway" (with dirty loan cash in pockets) Guess again, girlfriend. Or, $2.7 million every effing day since the effing pinball machine. Permabear Hysterian
pls note that the Secret jickiss doolar-Gold Indicator now Confirms, beyond any doubt, that a great Disaster approaches, in terms of the collapse of the doolar and Gold zooming waaayyyyyy up.
who bot those call Earl Opitons????
here is the latest chart of the Secret jickiss doolar-Gold Indicator.
"Every Bubble ends in fear and panic. This one will too." --Machinehead, March 29, 2005
On September 06, 2006, TRE closed at $6.50. On September 19, 2006, CDE closed at $46.30 (adjusted for reverse split).
On Oct. 17, '06, Goldman (GS) closed at $183.07 (jickiss Sell) whilst Newmont (NEM) closed at $43.24 (jickiss Buy).
"Politics in America has become a playground of fictions. The politicians tell the public what the public wants to hear. Whether the question is social security, education, budget deficits or national security, the public wants to believe that things aren�t so bad." --Written by J.R. Nyquist, December 8, 2006.
"Private sector employees will never retire, they will work literally to death, dying sick broke and busted with absolutely no hope whatsoever." -- Shorty, on March 15, 2009.
"Luck is the most precious commodity in the world." Brisbane Bear, October 25, 2007.
"Luck favors the prepared mind." Mr. James Dines, back in the 80s, in "The Dines Letter."
"With Luck, anything is Possible, but without Luck, virtually nothing Good ever happens." --- The jickiss Mantra, sad but True.
and if you didn't know - as part of our economic recovery we are witnessing the systematic destruction of business and budgets. "Furlough" is a word you can google for some insight. I chose to google "union furlough." It's going around and here to stay for another two years.
TJ, ...good...the Ballon Boy story is ridiculous....even more ridiculous is the coverage the media is giving it......
when I saw the pictures of that thing, I wonder if Jiffy Pop was this guys inspiration.....
"I went out and bought an Apple Computer; it had a worm in it"....."When I was born, I was so ugly that the doctor slapped my mother"....'I played hide and seek; they wouldn't even look for me.'- Rodney Dangerfield My Blog
It is a distant memory now how the financial system is supposed to serve the needs of the real economy by supplying needed capital to real businesses that actually produce needed goods and services. But here's someone who remembers that.
Excellent article here by a U of Missouri prof:
How the Servant Became a Predator: Finance's Five Fatal Flaws
There are numerous interesting articles on Huffington Post and elsewhere about the billionaire bailouts. Looks like it's not just Stoolies who are upset right now about the boatloads of taxpayer money that have been spent on banks that are giving out giant bonuses to employees, and are still not doing much lending to the real economy of businesses that produce needed goods and services.