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Wednesday, 06 May 2015 00:00

How to Blow a Trillion Dollars and Look Like You (Don't) Know What You're Doing While Blowing It Featured

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Throughout the month of Decemeber 2014 and early January 2105, rumors were floating around that the ECB would embark on a massive QE program. On January 22nd. the ECB officially announced the program.

EURUSD rise

I declared that it was not going to work as planned. As a matter of fact, I made it clear that there is clear evidence of diminishing returns in QE currency wars as a form of monetary policy, reference:

  1. What You Don't Hear In The Media, It's ALL OUT (Currency) WAR! Pt. 1
  2. Stab, er... I Mean... Beggar Thy Neighbor - It's ALL OUT (Currency) WAR! Pt 2
  3. As US Companies Report, Signs of Imported Unemployment/Deflation Appear: It's ALL OUT (Currency) WAR! Pt. 2.5
  4. It's All Out War, Pt 3: Is the Danish Krone Peg to Euro More Fragile Than Glass Beads? The Danish National Bank Infers So!.. 
  5. Monetizing The Spear That The Swiss National Bank Hurled At Swiss Banks and Insurers

All culminating in... "F$$k the Fundamentals!": Negative Rates In EU Will Absolutely Wreck the Very System the ECB Sought to Save

Let's see how much tens of billions euros and a trillion dollar promise is worth in terms of buying time from an interest rate and currency storm...

EURUSD rise chart

The Trillion Dollar Promise worked for 4 months, then it didn't! And as currency goes, rates follow - or was that vice versa?

Eurobond yield spike 

As volatility in currency exchange rates and interest rates (FICC) rise, banks get weaker and and more nervous.. As do their regulators. You know what's coming soon to the EU, right? In not, read the EU Area Residents' Step-by-Step Guide to Escaping the Upcoming Bank Bail-ins & Capital Controls.

If you're thinking about speculating on the EURUSD pair, remember... Nobody leverages like us!

eurusdx

Download the Veritaseum wallet and start trading now. 

 

Read 2898 times Last modified on Thursday, 07 May 2015 02:20

1 comment

  • Comment Link Reggie Carvajal Monday, 11 May 2015 08:41 posted by Reggie Carvajal

    QE is the easy way (ping a server to create money) to solve a hard problem (deflation caused by massive overvaluation of bad assets on the books). The caveat is... it doesn't work!

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