Looks like Slovakia

[ssd]

...will cave and vote for the EFSF plan in Europe.

If it fails, market will free-fall.

IF it fails, expect it to come up for a vote in Slovakia ad finitum until all who have voted against it are assassinated, err, removed from office and the bill passes.

Interesting -->
With just 5 million people in Slovakia, that is about 1,000 euro per person that Slovakian politicians are going to use to support countries that give more benefits to their citizens than they themselves provide to their own.

 

[Duff Miver]

I hate doom-and-gloomers, but I don't think the Euro union has enough money to bail out the Greeks along with all the banks that are holding tons of Euro-denominated bonds.

The USD is looking like the currency of last resort.

I don't play currency markets, but if I did, I'd be shorting Euros.

 

[ssd]

300 pip surge yesterday in the Euro sucked.

I am short Euro and Euro yen, been building a campaign position for a while.

There is not enough money when you look at Greece + Italy + Spain + Belguim + possibly France - when the banks start to get hit, that's when we get another liquidity freeze like 2008.

Could get really messy. Let me re-phrase that - it WILL get messy at some point - they are trying to mitigate it as long as possible.

As Warren Zevon said:
Lawyers, guns and money.

Personally, I'll skip the lawyers.

 

[ssd]

Doom and Gloom?

Read Graham Summers or Marc Faber.

Sheesh!