{"id":14397,"date":"2011-11-03T14:34:00","date_gmt":"2011-11-03T14:34:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/eu-blowup-dollar-down-qe-done-deal\/14397\/"},"modified":"2011-11-03T14:34:00","modified_gmt":"2011-11-03T14:34:00","slug":"eu-blowup-dollar-down-qe-done-deal","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/eu-blowup-dollar-down-qe-done-deal\/14397\/","title":{"rendered":"EU Blowup, Dollar Down?! QE Done Deal"},"content":{"rendered":"<p><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - News Links *\/\ngoogle_ad_slot = \"3490797620\";\ngoogle_ad_width = 468;\ngoogle_ad_height = 15;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/p>\n<p><!--Ad Injection mfunc mode ad include code--><br \/>\n<!--mfunc include_once('\/mnt\/Target01\/327806\/www.thestockmarketwatch.com\/web\/content\/stock-market-news\/wp-content\/plugins\/ad-injection\/adshow.php') --><br \/>\n<!--\/mfunc--><\/p>\n<p><span style=\"font-family: Verdana,sans-serif;\"><em>By Dominique de Kevelioc de Bailleul<\/em><\/span><\/p>\n<p><span style=\"font-family: Verdana,sans-serif;\"><span style=\"font-size: small;\">More QE from the Fed is a done deal! (see <a href=\"http:\/\/www.beaconequity.com\/silver-price-silver-%E2%80%9Ccould-easily-see-75%E2%80%9D-james-turk-2011-11-02\/\" target=\"_blank\" rel=\"noopener\"><span style=\"color: #000000;\"><em>Silver Price: Silver \u201cCould Easily See $75\u201d, James Turk<\/em><\/span><\/a><span style=\"color: #000000;\">)<\/span><\/span><\/span><\/p>\n<p><span style=\"font-family: Verdana,sans-serif;\">Greek Prime Minister George Papandreou is resigning; now, he&#8217;s not\u2014just a rumor. Referendum scheduled for the Greek people; now, it&#8217;s not.<\/span><\/p>\n<p><!--mfunc adshow_display_ad_file_v2(array('ad_random_1.txt'), array(100), array('align' => 'float right', 'clear' => '', 'margin_top' => '', 'margin_bottom' => '', 'padding_top' => '', 'padding_bottom' => ''), array(), array()) --><\/p>\n<div style=\"float:right;margin-left:5px;\"><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - in News 300 *\/\ngoogle_ad_slot = \"5684630733\";\ngoogle_ad_width = 300;\ngoogle_ad_height = 250;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/div>\n<p><!--\/mfunc--><\/p>\n<p><span style=\"font-family: Verdana,sans-serif;\">Berlusconi cannot leave his underage tarts for a day to prepare for a G-20 meeting. Italian <a href=\"https:\/\/thestockmarketwatch.com\/markets\/bonds\/today.aspx\">bonds<\/a> are on life support from the ECB from a near blowout Tuesday of more than 450 basis points to the German 10-year bund. <span style=\"font-family: Georgia; font-size: x-small;\">\u00a0<\/span><a href=\"http:\/\/oi.vresp.com\/?fid=149ce5c982\" target=\"_blank\" rel=\"noopener\"><span style=\"color: #0000ff; font-family: Georgia; font-size: x-small;\"><strong><span style=\"text-decoration: underline;\">Sign-up for my 100% FREE Alerts!<\/span><\/strong><\/span><\/a><br \/>\n<\/span><\/p>\n<p><span style=\"font-family: Verdana,sans-serif;\">Dexia collapses. Who knows what counter-party risk is stuffed?<\/span><\/p>\n<p><span style=\"font-family: Verdana,sans-serif;\">The new ECB chief Mario Draghi surprises the market with a 25 basis points cut at its &#8216;marginal lending facility&#8217;. Portugal, Spain and Ireland salivate over getting a similar deal given to Greece, teetering banks in France and German. Now French banks are under severe pressure in a circle-jerk default scenario throughout the EU.<\/span><\/p>\n<p><span style=\"font-family: Verdana,sans-serif;\">Japan, Switzerland, UK, and China are trashing their currencies to bits along with the euro\u2014and the result of all of this Argentina-style mayhem? The USDX drops!<\/span><\/p>\n<p><span style=\"font-family: Verdana,sans-serif;\">In fact, the rally from the 73.42 low of Jul. 28 to 76.92, as of Thursday, is a whopping 4.8 percent. That&#8217;s the extent of the rally into the &#8216;safety&#8217; trade. CNBC calls US Treasuries the &#8216;safety trade&#8217;, yet calls <a href=\"https:\/\/stockmarketwatch.com\/metal\/gold-price.aspx\" data-internallinksmanager029f6b8e52c=\"4\" title=\"gold price today\">gold<\/a> a bubble trade after the yellow metal corrected back to the planet Uranus following its trip to Pluto.<\/span><\/p>\n<p><span style=\"font-family: Verdana,sans-serif;\">Famed <a href=\"https:\/\/thestockmarketwatch.com\/markets\/commodities\/today.aspx\">commodities<\/a> trader, Jim Rogers of Rogers Holding told MarketWatch.com in mid-October that the dollar is\u2014how is it said, gracefully?\u2014<em>fading<\/em> as a trusted reserve currency.<\/span><\/p>\n<p>\u201c<span style=\"font-family: Verdana,sans-serif;\">The U.S. dollar has started fading as the world&#8217;s reserve currency,\u201d Rogers said, as the 68-year-old American citizen, now Singapore resident, complained of dollar debasement policies by the Fed, according to MarketWatch&#8217;s John Prestbo.<\/span><\/p>\n<p><span style=\"font-family: Verdana,sans-serif;\">Rogers used the words, \u201cstarting to fade.\u201d Starting? It&#8217;s a done deal, Rogers. Financial journalist should no longer use the term &#8216;reserve currency&#8217; within the same sentence with the word &#8216;dollar&#8217;. And to make matters worse, the villainous half of the former Rogers-Soros partnership at the Quantum Fund, George Soros, beat Rogers to the punch.<\/span><\/p>\n<p>\u201c<span style=\"font-family: Verdana,sans-serif;\">The big question is whether the U.S. dollar should be the reserve currency; it no longer is, it shares that role with the euro, other currencies, and <a href=\"https:\/\/thestockmarketwatch.com\/markets\/commodities\/today.aspx\">commodities<\/a>,\u201d Soros stated at the Bretton Woods II conference in April. \u201cBut it\u2019s not just gold being used as a substitute, but oil too, which is putting upward pressure on the market.\u201d<\/span><\/p>\n<p><span style=\"font-family: Verdana,sans-serif;\">Students of the Weimar Republic days in Germany chuckle at those silly Germans who thought sterling, dollar, Swiss and French francs were <em>strong<\/em> against the reichsmark in the early 1920s, when in fact, the reichsmark was collapsing. Aren&#8217;t financial journalist and TV commentators making the same mistake when discussing the US dollar? (see <a href=\"http:\/\/www.youtube.com\/watch?v=Axpu9HpvKsg\" target=\"_blank\" rel=\"noopener\"><em>When Money Dies<\/em><\/a> author Adam Fergusson discussion with Goldmoney&#8217;s James Turk on YouTube.com)<br \/>\n<\/span><\/p>\n<p><span style=\"font-family: Verdana,sans-serif;\">What started in earnest in January of 2010 with the blow-out of Greek bond yields has come down to a pathetic display of, not only the cartoonish leadership of the EU, but the fatal flaws of a framework for the euro currency at the outset. <\/span><\/p>\n<p><span style=\"font-family: Verdana,sans-serif;\">No one doesn&#8217;t know how bad the situation is on the other side of the Atlantic. But the obvious weakness in the dollar throughout this sordid affair is glaring\u2014to say the least. As US investors chuckle at the EU, they do so while neglecting to notice the US dollar train wreck about to smack them in the face.<\/span><\/p>\n<p><span style=\"font-family: Verdana,sans-serif;\">Is there any question that front-running of an announcement by the Fed of more QE is underway? How dare those silly Europeans debase their currency faster than the US dollar. Thank goodness the Bernanke is prepping to show who&#8217;s still no.1 in the world!<\/span><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<hr>\n<table style=\"border:none;margin:0;\">\n<tr>\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n.<\/td>\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<div style=\"font-size:11pt;\"><b>Post Written By: Mr. Dominique de Kevelioc, de Bailleul <\/b><\/div>\n<div style=\"font-size:10pt;\">\n<\/div>\n<\/td>\n<\/tr>\n<\/table>\n<p><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"pub-1408583772585547\";\n\/* 336x280, created 7\/9\/11 *\/\ngoogle_ad_slot = \"3552319058\";\ngoogle_ad_width = 336;\ngoogle_ad_height = 280;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/p>\n<div style=\"margin:5px;margin-bottom:20px;font-size:11pt;\">&laquo; <a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/\">Return to Stock Market News<\/a> &laquo; <\/div>\n","protected":false},"excerpt":{"rendered":"<p>By Dominique de Kevelioc de Bailleul More QE from the Fed is a done deal! (see Silver Price: Silver \u201cCould [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50312,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"rank_math_schema_Article":[],"rank_math_focus_keyword":[],"rank_math_description":[],"financial_data_references":[],"stock_symbols_mentioned":[],"footnotes":""},"categories":[3],"tags":[],"class_list":["post-14397","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news"],"_links":{"self":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/14397","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/comments?post=14397"}],"version-history":[{"count":0,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/14397\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media\/50312"}],"wp:attachment":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media?parent=14397"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/categories?post=14397"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/tags?post=14397"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}