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Traders splash £5 billion betting against the euro as the single currency falters amid debt crisis
Sam Fleming
Daily Mail
Tuesday, February 9, 2010
Traders and hedge funds are making record bets against the euro, underlining the mounting alarm over the region’s debt crisis.
Market players have bet almost £5billion that the value of the currency will fall against the U.S. dollar, the largest ‘short position’ since it was launched.
European governments have been drawing up plans for a possible bail-out of Greece, amid fears it could be spiralling towards debt default.
Worries about the health of public finances are also spreading to other countries.
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Speculators believe these states will be unable to meet their obligations to lenders and have taken up a short position on the currency.
More than 40,000 deals have been made betting against the single currency, according to analysis of figures from the Chicago Mercantile Exchange.
Some analysts claim the crisis is so deep the future of the euro could be put in peril, driving the value of the single currency lower.
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February 9th, 2010 at 11:10 am
I think we are seeing the last months of the Euro (even maybe the last weeks). Two hours ago the german government decided to bail out Greece.Now it is official: The EU (backsided by Germany) will help the greeks with more Billions they maybe don’t have,rock the debt baby!.So will the german government avoid a shock similar to a possible bankrupcy of the Hypo-Real-State Bank with the same mesures like two years ago.
Accepting Greece in the euro-zone was like accepting Guatemala,now another countries with unstable economies will be targeted by the speculators (Spain,Ireland,Portugal),The PIGS will be slaughtered soon even if Germany is pushing the greek government to stabilize and reform its economy and tax-system.
The problem is: The probability that Bernie Madoff becomes major of Las Vegas is much higher than the probability of a reform of the greek financial system in the next 20 years.
Ruhe in Frieden Euro!,es war schön mit dir!
Ed Reply:
February 9th, 2010 at 9:27 pm
Yeah, speculate up, speculate down. Losses covered by the taxpayers. gains hidden away. why do the low and middle class people serve their banker masters? i do not understand.
February 9th, 2010 at 11:30 am
LET’M ALL FILE BANKRUPTCY THAT FREES ALL OF US FROM THE CORPORATE COURTS, CITIES, ON UP THE CHAIN, NO MORE STRAWMAN AND MAKE THE MORTGAGE CO. GIVE GRANT DEEDS
February 9th, 2010 at 12:49 pm
I wonder if the US and UK central bankers want the Euro to fail to maintain dollar dominance. I read that Goldman was doing shady deals with Greece back in 2002. Now Greece is failing.
If the middle eastern and Asian countries want to switch dollars for Euros, doesn’t a Euro collapse benefit the $?
wildcat Reply:
February 9th, 2010 at 6:55 pm
The pound fell against the Euro in the recent past (it used to be that one pound would get you 1.6 Euros, now you get 1 Euro for 1 pound). Having the Euro fall would benefit all those London bankers who have a holiday home in France.
February 9th, 2010 at 12:53 pm
i think all this negative euro stuff is way overdone….it will be ok…it will do better then people predict….
February 9th, 2010 at 1:45 pm
Europe has Greece (5 million people) but The US has CALIFORNIA …
Ed Reply:
February 9th, 2010 at 9:40 pm
What purpose does a person with an IQ to write that sentence as a problem identifier or solution, have at reading this site??
February 9th, 2010 at 5:18 pm
Betting against the present currency! Hmmmm! Didn’t someone do that on the stock market against the dollar some time back? Made a fortune, if I remember right. No who has that kind of info again? Oh, that’s right. The insiders…
February 9th, 2010 at 6:08 pm
The information presented is top notch. I
February 9th, 2010 at 6:33 pm
The criminal speculators, ie. Goldman Saks, have the ability to take down countries with their renagade financial schemes. No one is safe. Look how they drove the price of oil to $150. That wasn’t demand driven. Then they profited all the way back down. Wash, rinse, repeat. That thievery is what needs to be stopped. They add no value to the system, just pillage. Enough is enough already. The financial system has been hijacked. HELP!
February 9th, 2010 at 9:43 pm
You can bet your ass the US won’t want any other currency to take over from the dollar.
February 10th, 2010 at 2:32 am
When the £ was in the ERM, the speculators led 90% by George Soros were there to cripple the £ and in doing so robbed the British people of 8 billion pounds. The reason I mention this is because the chancellor at the time was Norman Lamont who allowed this robbery to happen and then when he left Governement went to work for the Rothschilds who were the primary backer of George Soros which allowed him to attack the currency. It is highly likely that the same backers are up to the same trick this time and they are once again robbing the people of Greece and any other country whose governemnt decides to bail Greece out. Once again this a controlled situation where the only winners are the Intl Mercahnt Bankers led by Goldman JPMorgan whose ultimate controlling shareholders are the Rotchilds.
February 10th, 2010 at 7:21 am
It sickens me to see the Germans paying even more to keep this experiment called the EU on life support.
It is the Germans who should leave the Euro behind them.
The Germans have paid way to much so far towards this complete failure of an EU.
Germany should stick it to the EU by getting rid of the Euro!
February 10th, 2010 at 8:56 am
:_)
February 10th, 2010 at 10:57 am
Thanks for another fab article – I enjoyed that!
February 10th, 2010 at 12:01 pm
title: Alcuin Bramerton: “GOLDMAN SACHS SETS UP EUROPE FOR THE BIG FALL. SOVEREIGN DEFAULTS LOOM”
http://www.rumormillnews.com/c.....ead=166613
John
February 10th, 2010 at 12:16 pm
Where is that fat f--- soros in all of this.
February 10th, 2010 at 2:21 pm
hi , a few days ago , an article on infowars attracted my attention. In colorado , a critic of our federal govenment , saying for example it is corrupted could lead to imprisonment and is fined by 25000 dollars.But , everyday , numbers of facts can lead us to the conclusion it is corrupted to such a level and lying continuously to the people. Is it fear , on another hand , each day coercitive measures are taken , and browsing of our freedom rights. For bush himself , our dear constitution is just a piece of paper. Give back a meaning to the declaration ” we , the people of the united states… “. Don’t let some banksters continue this politics. Recently , some of them asked for fire arm licenses , try to imagine in which state of mind they are. Everyday , the federal government proove it isn’t good for the states. More than 40 of them are near bankruptcy.
I let you think about the necessity of a radical changement. When you watch carrefully , you will understand that power is only in the hands of a few thousands , placed to some strategic positions. The next step is to identify those ones and postions. So , an overthrowing of our federal government isn’t impossible. Determined persons , working cleverly could make a lot of work. This is the price for our freedom , and for all what we are attached to. More and more people have their conscience waking up. What do you think of yourselves , have you any dignity?. They took our jobs , and each day a piece of our freedom , what will they take the next day , what will remain to us?. Just for once , try this grid of lecture , when an official , you suspect of lying , declares something , take the opposite declaration , and do the same for the rest of his speech , you will realize that you are near the truth.
For example , an official declares , the 9/11 is the consequence of an terrorist attack , take the opposite , the 9/11 is not the consequence of an terrorist attack , as a conclusion ( see the video of the danish scientist niels arit , in which the demonstration is made on the existence of explosives ) it’s an inside job.
Our money , the dollar seems to loss more and more of its value , and in near future it also seems to be ineluctable a devaluation will take place , we will be ruined is this really what want?. If you are always sleeping and don’t want to wake , keep on watching tv , it will surely wash your brain , don’t be frightened , there is no pain.
A patriot.
February 10th, 2010 at 9:18 pm
Like many of us in our 30’s – I’m starting to realize that the years are passing me by and as I’ve focus on my career, my friends, myself, my travels etc…
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Great work.
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February 10th, 2010 at 11:40 pm
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