It is confirmed downtrend. Trichet is now hesistant.
1.4400 is the intermediate target, 1.4000 cannot be ruled out.
Short EURO 1.4550stop 1.4570Target 1.4400
Good luck on your shorting, taking profits along the way, wait for the rebound
and short again.
Weekend is G7, take profit meanwhile. We may see more Euro weakness though to coincide with the Stock plunge.
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I have this intention to run as a independent candidate for the US Presidency.
I would be a pro-trader President. I would exempt traders from any taxes on gains. Also I would setup a Commision on Fair Trading, to investigate brokerage with unfair practices. Secondly, I would disband the FOMC, b'cos it is not providing any leadership to the market.
Also, I would empower FBI to investigate any leaks of economic data to insiders trading.
I would mandate all data release and FED speech to start at 8:30 am ET, including the FOMC rate decision annoucement (I dun care if the FOMC have to work overnight), so that even our European and Asian traders have a easier time trading.
And to rejuvenate the US economy, I have the following plans:
(a) Take over the Iraqi government, and appoint eminent American citizens, e.g. Kissinger, Paul Volcker, Lawrence Summers, Rubin, Colin Powell, George Soros, Joseph Stiglitz to the Iraqi Council of Presidents. Then we would have Iraqi Oil as our national assets.
(b) Invade and occupy Iran, then US would have 30% of world's oil
(c) Hijack Chavez, institute a pro-American government with US access to Venezuelan oil.
(d) Disband OPEC, and appoint the US Secretary of Energy to form the International and Domestic council In Oil Trading (IDIOT) which would set Oil prices. And merge ExxonMobil and Chevron to become ChevExMob, then hostile take over of other oil companies, like Shell, Total, BP, etc. to form the almighty Oil company: "Texan Cowboy Oil" with control over Venuezuelan, Iraqi, Iranian and Saudi Arabian oil.
(e) Exchange Taiwan with China for them to increase their holdings of US Treasuries to 100% for their forex reserves. Adminstration revaluation of the Yuan to 5, instead of the current 7. Allow all American brokerages to operate in China at full functional status.
(f) Impose protection fees on Japan, Israeli, Saudi Arabia, South Korea and Poland for US Military presence, upto 10% of their national GDP.
(g) Speed up American occupation of moon, with a monkey community by 2020 and homosapiens community on moon by 2030.
(h) Take the ETF Gold and Silver into American Treasury custodies. The price of Gold would once again be set by the US Treasury.
(i) Hire the Lesbian Brothers, Goldwomansucks, Morning standly, Merry Lynch, Sillybank, to attack the Euro till ECB is bankrupt, then the European Union would subsequenly collapse. Then USD status of the world reserve currency would once again be unchallenged. And of course US as the only superpower.
(j) I would appoint Ben as my next Secretary of Treasury, as he would bow to all my wishes. AND I would appoint myself as the Chairman of the Federal Reserve. Now finally the American President has absolute power.
(k) I would institute a international Organisation on Sovereign Wealth Fund, subject to American supervision and regulation. Any SWF not a member would be outlawed and all assets frozen with American juridiction. And all SWF have to appoint a American institutions as a manager.
(k) I would triple the printers at the Federal Reserve. and I would decree that US notes be printed on one side only, (with my signature of course). So that our printers can print faster.
(l) Every quarter, I would order Federal Reserve to dispatch US dollar bills to every household, with the amount pegged to the US GDP growth. Starting with 1,000 USD for every household.
(m) For every new born child, I would deposit 20,000 USD into the child account for future education and medical use. And all medical bills for the birth paid under the new MediLOVE program.
(n) I would expand the Ivy Leagues school, so that one in every 10 Americans receive an education upto Bachelor level with the Ivy Leagues. And I would ease immigration rules to entice masters and doctoral candidates from all over the world, with free tuition fees guaranted at Havard, Stanford, Yale, etc.
(o) I would legalise stem cell reserach and setup the President Award for Biomedical research. A top prize of 10 millions goto the scientist who can first replicate a human beings, criteria being the human being has to look like a human being. I would consider even if the clone human has his brain in front of the ass.
(p) I would rectify the Kyoto accord immediately. And mandate all American car manufacturers to go hybrid by 2012. And all smoke stack industries to vacate American soil by 2015, and shift to China, India if not Vietnam.
All Lamborghinis, McLarens, Aston Martin, Ferraris, Maesareti, Bugatis, Zonca have to pay 10 fold the price at the pumps.
(q) I would impose "export of American jobs" tax. For every job exported overseas, American corporation have to pay 50,000 USD.
(r) I would reinstate the Homeland Investment Act, American corporation who repatriate earnings back to US by year end 2008 would get tax incentives
(s) I would increase taxes on the wealthy by 10 times. (however, your gains from forex trading would be exempted).
(t) I would nationalise Fannie Mae, Freddie Mac, MBIA, AMBAC, myDICK, yrFICK to solve the subprime crisis once and forall. I would pursue individuals in S&P, Fitch, and the mortgage corporiations to justice. All wealth of those bankers would be confiscated, besides a 10 yr mandatory jail term.
(u) I would rejuvenate the SEC, and subject market fraud deterection and enforcement to the FBI.
These are not wild dreams, these can be done within the reach of the American President with the political will.
Then American would rise again as the superpower for another 5 decades.
And I wold not be a "white haired 71 yr old black dog" in the race, but the FRONT RUNNER in the American Presidency.
Those who would vote for me, pls click on the links to the Google advertisement.
