Cyprus joined the EU when the bloc launched its “big bang” expansion, opening the door to 10 mostly ex communist countries in 2004, which then swapped their individual currencies for euros a few years later. However, unlike Greece or the rest of Southern Europe, the banks in Cyprus suffered heavy losses due to large Greek bond […]

Even Castro came out warning the 30 year old rash leader of North Korea against war. We tend to judge people by ourselves and assume since war is illogical that everyone else would see the same thing. That is VERY far from the truth. It is not our rational thought process that matters, it is […]

The Euro closed at 5PM NY Time at 12994 2 ticks below the closing resistance target of 12996. The Euro will find resistance at 13007 early next week with support at 12845. Initial support will be at 12954 level where we should see the Euro retest. Nevertheless, a high the week of 4/15 still suggests […]

Resistance for next week will be at the 13007 level. If we close below that today, the Euro will retest the mid 12900 area then move up into the week of 4/15. A close ABOVE 13007 on cash in New York will warn that the rally in the Euro may lead with stops and 13007 […]

The Daily Bullish in the cash Euro for today’s close are 12977 and 13134. The Weekly Bullish are 13134 and 13433. This corresponds with the top of the technical channels. The monthly levels also show the first resistance at 13140 and 13370. We also have some closing resistance technically at 12996. The Euro on the momentum […]

A truly massive amount of names of people who have accounts offshore has been obtained and is up there now with the Hunt for Red October. Germans, Italians, Canadians, Americans, and more, are all up for sale. Because politicians are Marxists and cannot manage an economy, they have the audacity to criminalize anyone who has […]

In terms of currency structure, China’s debt in U.S. dollars accounted for 77.83 percent of the outstanding registered external debt. Debt in euros accounted for 6.58 percent, while debt in Japanese yen was 7.37 percent.

One of the important developments is the Stockton, California bankruptcy. The jurisdiction for bankruptcy is federal court, not state. This is rather significant and the law is really clear, there are no exceptions among creditors under bankruptcy. A federal judge earlier this week gave the green light to Stockton, Calif. to restructure under bankruptcy protection […]

The barbarians knew when to invade Rome because it had weakened its own economy. The real risk to Europe and the USA is the Sovereign Debt Crisis. Russia can smell the blood. Europe has slit its own throat with this Euro nonsense and the stress is becoming visible along the borders. If there was ever […]

Next two weeks remain the cyclical target for a turning point. After making a new intraday low at 12744, the Euro is a bit over done and should rally back to retest the Monthly resistance at the 12975-13030 followed by 13106. We need to see a daily closing above 12977 to stabilize the Euro for […]