LONDON — Chancellor of the Exchequer Alistair Darling said Sunday that Britain cannot and will not support a European Union bailout fund to help struggling eurozone economies.
"I'm very, very clear that if there's a proposal to create a stability fund for the euro, that's got to be a matter for the eurogroup countries," he told Sky News television in Brussels, where he was attending an EU meeting.
"What we will not do and what we can't do is provide support for the euro... the responsibility for supporting the euro must be for the eurogroup members".
May 10 (Bloomberg) -- The euro strengthened after European Union finance ministers pledged to stop a sovereign debt crisis from shattering confidence in the currency and held an emergency summit to hammer out a lending mechanism for deficit-stricken nations.
The currency jumped more than 1 percent to $1.2897 as of 6:11 a.m. in Sydney, according to pricing from Westpac Banking Corp. The euro was trading at $1.2755 late on May 7 in New York, according to data compiled by Bloomberg. The euro advanced to 119.28 yen from 116.81 yen, Bloomberg data show.
"Germany proposed on Sunday evening the establishment of a comprehensive plan of financial aid can be used for countries in the euro area, totaling 500 billion euros and involves the IMF, told AFP European diplomatic source.
"But if the early reports are near true, the accord profoundly alters the character of the European Union. The walls of fiscal and economic sovereignty are being breached. The creation of an EU rescue mechanism with powers to issue bonds with Europe's AAA rating to help eurozone states in trouble -- apparently €60bn, with a separate facility that may be able to lever up to €600bn -- is to go far beyond the Lisbon Treaty. This new agency is an EU Treasury in all but name, managing an EU fiscal union where liabilities become shared. A European state is being created before our eyes.
Shorts who overstayed their welcome are burning this morning. Congrats to Boris for calling a local low on XX XX. I am still amazed at how accurate your calls are...scary indeed.
Lipsky of the IMF said Spain and Portugal need to cut their budgets ...
Well the Spanish jumped into action ... They ordered the guardia to turn their engines off at stop lights and to perform fewer breatherlizer tests on motorists to save on those little plastic pieces ... These dramatic measures will keep the 'wolfpack' at bay for sure Dear Boris :-)
B-berg says that sovereign wealth funds are staying away from the common currency, diversifying away and establishing new trading ranges for the various pairs ...
And, they ask, what will happen to sterling with a 'ramshackle' coalition Dear Boris :-)
Dear Xerxes, Good morning Very Dear Friend and tell them what will happen with sterling.
It will be OK.
Good Trading Dear Xerxes Now, that does not mean it cannot meander for a while, but soon we may find that BRUTISH may, not , after all, be much worse than Dollar
How long does that take? Only subscribers have answer to that.
Moodys, needs to be discomforted themsleves, Anybody who believes in Moody ratings he/she also believes in Buffet virtues.
Who owned most of Moodys when they labled AAA the most toxic assets.
Now, Dear Buffet seemed to repeat forever that derivatives( especially the kind moody was approving) were WMD ( weapon of mass destruction ) yet, he owned the company promoting that.
No, if this is the most virtuous investor we have, talking from all sides of his mouth. No wonder we are in trouble on all grounds
B-berg is quite miffed that the trillion usd bailout seems to have lost its luster after one day dear boris .... there has been a parade of pundits that tell us that the big money is staying away from the euro and club med bonds ... these pundits say that they want greece to 'show them the money' to be saved from austerity, or suffer the consequences ...
Goldman Sachs Group Inc.’s traders made money every single day of the first quarter, a feat the firm has never accomplished before. Daily trading net revenue was $25 million or higher in all of the first quarter’s 63 trading days...
When you play small and scale upon the adversary in the market, you are on the same level as he is, because , you are as rich as your money goes and when you play small, the SUCKERS like GS and others, cannot take you to cleaners. WHy, remember they cannot take the markets to infinity( not every day anyway). So, they have to turn at some point and you have , by then build a POSITION on them.
Now, it does not matter if you made the money of off GS or some other small trader, the point is YOU PLAYED, as if you were as big as anybody else in the market.
THAT IS THE POINT.
YOu do not have to be rich to play the rich mans game. Just got to know how much money you have and allocate it wisely
Paribas says we are looking at the beginning of the death of the euro Dear Boris ... that's right death ... Will Tricky administer the last rites? Stay tuned :-)
Sorry Sumitomo not Mitsubishi ... They say that interest rates to be cut to 0.1%
But the big news Dear Boris is that Fitch says that we will see EURUSD at 3.0000, that's right, 3 dollars will be required to buy a single unit of the common currency but I missed the time frame
WASHINGTON—The White House said Friday that Elena Kagan's membership on an advisory panel for the securities firm Goldman Sachs Group Inc. wouldn't disqualify her for a position on the Supreme Court.
Dear Boris, Good morning. I see the emini overnight high. Sneaky market, doing that in the middle of the night (eastern standard time, of course). Thanks and good trading.
How is that possible? Yes Our subscribers knew this.
90 comments:
Boris
Good morning-- did ok
as usual with the information
old john
Dear John
Thanks for your Comments
I am glad we are able to provide
this kind of priceless information.
For people to plan, instead of going crazy looking for top and bottom every day and every price level of the year.
Good Trading My Very Dear Friend
LONDON — Chancellor of the Exchequer Alistair Darling said Sunday that Britain cannot and will not support a European Union bailout fund to help struggling eurozone economies.
"I'm very, very clear that if there's a proposal to create a stability fund for the euro, that's got to be a matter for the eurogroup countries," he told Sky News television in Brussels, where he was attending an EU meeting.
"What we will not do and what we can't do is provide support for the euro... the responsibility for supporting the euro must be for the eurogroup members".
May 10 (Bloomberg) -- The euro strengthened after European Union finance ministers pledged to stop a sovereign debt crisis from shattering confidence in the currency and held an emergency summit to hammer out a lending mechanism for deficit-stricken nations.
The currency jumped more than 1 percent to $1.2897 as of 6:11 a.m. in Sydney, according to pricing from Westpac Banking Corp. The euro was trading at $1.2755 late on May 7 in New York, according to data compiled by Bloomberg. The euro advanced to 119.28 yen from 116.81 yen, Bloomberg data show.
"Germany proposed on Sunday evening the establishment of a comprehensive plan of financial aid can be used for countries in the euro area, totaling 500 billion euros and involves the IMF, told AFP European diplomatic source.
http://www.telegraph.co.uk/finance/financetopics/financialcrisis/7702335/Europe-prepares-nuclear-response-to-save-monetary-union.html
"But if the early reports are near true, the accord profoundly alters the character of the European Union. The walls of fiscal and economic sovereignty are being breached. The creation of an EU rescue mechanism with powers to issue bonds with Europe's AAA rating to help eurozone states in trouble -- apparently €60bn, with a separate facility that may be able to lever up to €600bn -- is to go far beyond the Lisbon Treaty. This new agency is an EU Treasury in all but name, managing an EU fiscal union where liabilities become shared. A European state is being created before our eyes.
EURUSD soaring on the news Dear boris .... the buck's days seem numbered
Confirming Everything you say
Dear Xerxes
Good Night.
It is time for me to sleep now(:-
Good Trading Very Dear Friend Xerxes
And All
Rise & shine Dear Boris
ECB says that USD swaps are to be made available ... Bernanke to the rescue with his dollar trashing ....
ECB to buy private and gov't bonds with sterilization, allegedly...
ECB to provide 'unlimited liquidity' at 1% ....
Good Morning
Dear Xerxes
Good Trading Very Dear Friend
B-berg says that some bank (missed name) suggests 1.35 for EURUSD and placed a buy on Portuguese, Spanish bonds
Oh, so
it was parity yesterday/Friday
now it is 1.35
My O my! how quickly the SOPITALIST/HEDGYS spread the opposed rumors.
Good Trading Dear Xerxes
We're closer to 1.35 than 1.20 Dear Boris ....
EURJPY is up nearly 500 pips already ....
Euphoria in Paris
IBEX up 10% so far today Dear Boris
Well Dear Boris .... Every CB in the world is loaning USD's to whomever needs them .... How can the buck survive such an onslaught, today anyways :-)
Shorts who overstayed their welcome are burning this morning. Congrats to Boris for calling a local low on XX XX. I am still amazed at how accurate your calls are...scary indeed.
UPdate
On Market Report
gold is getting shell- lacked...Would not be surprised to see a 1160 print this week.
Dear Michael,
Thank you so much.
Frankly, I scare myself more than anybody else and then I go to bad think sometimes, how long can my luck can last?
Yes, I still believe it is luck(:-, in large part. Although, you know I work very hard to be lucky!
Good Trading Very Dear Friend Michael
Yes, you are right about GOLD
Very Dear Friend Michael,
IF it cannot stem decline right away, it will be in a hard decline
Good Trading Dear Michael
Going Swimming
Good Trading ALL
EURUSD @ 1.20xx in 3 months --- Barclays
B-berg says that traders still skeptical of effectiveness of the EU plan and covered their shorts today but remain euro bears
Rosenberg says Euro could drive gold to $3000.
Dear Boris,
Good morning.
I hope that you had an excellent weekend.
Thanks and good trading.
Bert
Boris
Good swimming- just woke up at 530 my time. Wow-- nice call
Hopefully a long swim.
old john
Dear Bert,
Good Morning and
Good Trading My Very Dear Friend
Dear John
Good monring
Very good trading My Very Dear friend
Thanks for compliments.
I do it for fun, but if it helps, then I am in haven!
Besides, how can I not be inspired with best bunch of investors on the net
Emini314
ON
MarketReport
Update
Market Report
Boris
got it
thanks
old john
Good Morning Dear Boris ....
Swaps start tomorrow ....
Lipsky of the IMF said Spain and Portugal need to cut their budgets ...
Well the Spanish jumped into action ... They ordered the guardia to turn their engines off at stop lights and to perform fewer breatherlizer tests on motorists to save on those little plastic pieces ... These dramatic measures will keep the 'wolfpack' at bay for sure Dear Boris :-)
B-berg says that sovereign wealth funds are staying away from the common currency, diversifying away and establishing new trading ranges for the various pairs ...
And, they ask, what will happen to sterling with a 'ramshackle' coalition Dear Boris :-)
Dear Xerxes,
Good morning Very Dear Friend
and tell them what will happen with sterling.
It will be OK.
Good Trading Dear Xerxes
Now, that does not mean it cannot meander for a while, but soon we may find that BRUTISH may, not , after all, be much worse than Dollar
How long does that take?
Only subscribers have answer to that.
Now, that should come as a surprise to all, who know that I, ABSOLUTELY, hated BRUTISH all the way fro 2006
!
(:-
Good Trading All
Moodys to cause more discomfort for the Greeks Dear Boris ...
B-berg is talking about a possible 'coalition of losers' in the UK Dear Boris ....
Moodys, needs to be discomforted
themsleves,
Anybody who believes in Moody ratings he/she also believes in Buffet virtues.
Who owned most of Moodys when they labled AAA the most toxic assets.
Now, Dear Buffet seemed to repeat forever that derivatives( especially the kind moody was approving) were WMD ( weapon of mass destruction ) yet, he owned the company promoting that.
No, if this is the most virtuous investor we have, talking from all sides of his mouth. No wonder we are in trouble on all grounds
Good Trading Dear Xerxes
B-berg is quite miffed that the trillion usd bailout seems to have lost its luster after one day dear boris .... there has been a parade of pundits that tell us that the big money is staying away from the euro and club med bonds ... these pundits say that they want greece to 'show them the money' to be saved from austerity, or suffer the consequences ...
Barton Biggs thinks next move in SPX is 20% north Dear Boris ... B-berg says he's a bull who has been right .... He's a loser :-)
RBS says that by year's end EURUSD @ parity .... Relic @ 1500 .... US interest rates .. think of a number then double it ...
Dear Boris,
Good morning.
Thanks and good trading.
Bert
Fair value for SPX is 850 --- RBS
Gold Update
Market Report
Dear Bert,
Good Morning and
Trading
My very Dear Friend
Boris
a little weight lifting today? good morning
old john
emini235
On
Market Report
Dear John
ENjoy
It is great to lift
some weights
always feels good
Good trading
Very Dear Friend
Goldman Sachs Group Inc.’s traders made money every single day of the first quarter, a feat the firm has never accomplished before.
Daily trading net revenue was $25 million or higher in all of the first quarter’s 63 trading days...
Tough to beat a perfect game Dear Boris ....
timing update
Market
Report
Market On schedule
to top 1:45 ET +- 10minutes
1157 or below
If not stopped here we could go another one hour before top encountered
sold half+half at 1154
Update, about
Markets
Market Report
Dear Boris,
Update doesn't seem to be there.
Thanks and good trading.
Bert
Well,
I do not know who GS makes money of off, but they could not fool me today.
I kept shorting ( scaling ) on them all the way to the top!
GOod Trading All.
That is the advantage of scaling and playing it small
I am sorry folks
It looks and editor, sometimes does not complete the editing even though I have dispatched the save button.
this happens when systems / internet are busy
Sorry about that.
Message there now is essentially a response to an unsolicited email I got just few moments before than
Dear Bert,
Thanks for alerting me
GOod Trading All
A move above 1157
was totally manufactured bu
suckers of all kind
Good Trading ALl
What I mean by advantage is this.
When you play small and scale upon the adversary in the market, you are on the same level as he is, because , you are as rich as your money goes and when you play small, the SUCKERS like GS and others, cannot take you to cleaners. WHy, remember they cannot take the markets to infinity( not every day anyway). So, they have to turn at some point and you have , by then build a POSITION on them.
Now, it does not matter if you made the money of off GS or some other small trader, the point is YOU PLAYED, as if you were as big as anybody else in the market.
THAT IS THE POINT.
YOu do not have to be rich to play the rich mans game. Just got to know how much money you have and allocate it wisely
Good Morning Dear Boris ....
'America will not tolerate these levels (1.2635 for EURUSD)' ---- B-berg
Good morning Boris. When you have the time could you comment on CHF on dotorg?
Thanks,
Michael
Dear Michael
Update
On
Market Report
Thank you Very Dear Friend
Micahel
Can we say AHAP1 in GOLD!
Boris
good morning-- did ok yesterday-- even though you were a whole hour off :)
thanks
old john
TEst
Ok, now
I can post
emini316
On
Market Report
Dear John,
Welcome
I like, especially, when I am wrong and still make( not lose) money.
Move above 1157 yesterday was all
HOT AIR
It did not help any GOLDMAN if they were against me yesterday
(:-
Good Trading My Very Dear Friend
JOhn
Dear Boris,
Good morning.
Thanks and good trading.
Bert
Paribas says we are looking at the beginning of the death of the euro Dear Boris ... that's right death ... Will Tricky administer the last rites? Stay tuned :-)
Dear Bert,
Good morning
and
Good Trading
My Very Dear Friend Bert
Good Morning Dear Boris
Good Morning
Dear Xerxes
Good Trading Very Dear Friend
1.18 for EURUSD ... Mitsubishi Bank
Sorry Sumitomo not Mitsubishi ...
They say that interest rates to be cut to 0.1%
But the big news Dear Boris is that Fitch says that we will see EURUSD at 3.0000, that's right, 3 dollars will be required to buy a single unit of the common currency but I missed the time frame
Well,
Dear Xerxes
It is a common, practice(:-
Give time, no price
Give price no time
Never both.
That is the main tool of decopetion
especially by GS
How many of them are there Dear Boris ...
WASHINGTON—The White House said Friday that Elena Kagan's membership on an advisory panel for the securities firm Goldman Sachs Group Inc. wouldn't disqualify her for a position on the Supreme Court.
Dear Boris,
Good morning.
I see the emini overnight high.
Sneaky market, doing that in the middle of the night (eastern standard time, of course).
Thanks and good trading.
Bert
European banks reportedly having trouble unloading commercial paper and Italian government bonds --- B-berg
xerxes,
that is how Kagan got the job. that is her clout ( as they say in chicago)--GS probably pushed for her.
old john
emin317
On Market Report
Dear Bert,
Good MOrning
Yes, YOu noticed(:-
Good Trading My very Dear Friend
Dear John
Good Morning
Yes, same there, GS has
its people everywhere
Yes, said thing is the power elite enjoys the big support from ELITE
Well, at least they are known.
In time they may be asked questions
Good Trading Dear Friend John
Boris
good morning
old john
I was wondering her connect to the big banks. Just like the dorm buddies blankenfien and bernanke
These GS personnel are more numerous then cucarachas
Public sector strike scheduled for June 2nd in Madrid .... Let the games begin ...
Dear Boris,
When you have time, could you look at my questions on dotorg in the feedback?
Thanks dear friend,
Michael
RBS says that EURUSD to 1.14xx by 2011
B-berg tells us that in a hotel in Dubai you can buy gold bars and coins in a lobby vending machine Dear Boris ....
I am on
Private Airplane,
Dear Xerxes
Considering Done(:-
Do you want me to buy some for you while I am there?
Stock Market Timing
On Market Report
I am on
Private Airplane,
Pick me up please :-)
goldman is going to get the same treatment the jewish bankers got over in england in 1290.
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