Wednesday, September 26, 2012

Why I want Anarchy in the EU

FX © fintag

News comments:
I always look forward to this time of year.

It's always the period when news makes market makers very twitchy. Given the over valued (or maybe truly undervalued?) equities and commodities markets, the real casino markets showing what the future lies are the EUR FX rates. Not that they are being driven by fundamentals - it seems to be more correlated with the percentage of people out after dark. And more.

Greeks setting fire to trees, demands for devolution in Spain and CRAs punching hard to keep the bankrupt USD a float before the lemmings jump off the fiscal cliff, are all contributing to the ebb and flow of the EUR FX markets.

My interest is purely selfish though as I am buying a place in the South of France. A distressed seller of course, but the French red tape means I cannot get my hands on the place for another 2 months when I have to hand over some EUR. Forward rates are looking favourable and evening spotting now I feel I can get a bargain despite GBP being as overvalued as Apple.

The other bargain hunters in France are the Australians. Everywhere. Snapping up real estate with their over priced currency. No wonder being Australian is so in fashion. (telegraph) (fintag)

As I am not Australian I need to resort to other means to get a peanut rate EUR. Given the EU FX markets appear to be driven purely by politics I am screaming out for Anarchy in the EU. So come on you unemployed youth, burn, trash and cause as much chaos as you can over the next 8 weeks.

My sun tan is in your hands.

Today's shorts:
Burning assets (spiegel)

Today's longs:
Russians find way to manufacture gold (marketwatch)

Canadians are the smartest people (marketwatch)

Gossip:
Israel and Iran found to be arming unemployed students.



9 comments:

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Richardlogo said...

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Richardlogo said...

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Richardlogo said...

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Richardlogo said...

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Richardlogo said...

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Richardlogo said...

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Richardlogo said...

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Richardlogo said...

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