Gringoes.com: Exchange Rate Predictions 2012

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Originally posted by spongebob

Originally posted by Esprit

Originally posted by Gringo.Floripa

A jump to 3.0 is not far-fetched, considering the assorted 'contagions' floating around.

Thanks to Coolbloo for this link:
A Fast And Furious Return To Reality: Spanish Stock Market Plummets By 12% In Two Days

Why might this come as surprise to
anyone? In the name of sanity we are dealing with a European political problem,
not an economic one. That problem is the Euro, exclusively. 

During the last European summit,
the 20^th of its kind I believe, markets believed that the agreement
to allocate €100 billion to Spanish banks was the cure-all. The markets loved
it because this debt would be the responsibility of the banks and not the
Spanish government and not adding to its sovereign debt – oh really? Ever heard
of tunnel vision? And so who backs the Spanish banks? Eh, well… Opps, the bank’s
stock plummets. 

Then the Spanish Central Bank says
that it needs €142billion for itself followed by another unofficial announcement
that slightly in excess of €400billion will be required to bailout Spain. Meanwhile
Spanish debt interest has reached a point beyond what is commonly regarded as
unsustainable. Oh dear! What’ll we do know? Run away, run away! This is
ineptitude on the grandest scale. Pity the Spanish people made victims by their
politicians.

Brazil has the appearance of gold-standard
stability relative to more than half of Europe and so why would the Real plummet
in value next to these crumbling economies? 

Commoonn... you don't actually believe it's really ineptitude, do you? Me at least, I think that Spanish politicians are trying to secure as much money as they possibly can for themselves. 

After all, one of the best ways to conceal theft is by "playing dumb".

Given all we know regarding
financial crime I suppose that it may be in the realms of possibility that the
European Bailout Fund, the Central European Bank together with the
International Monetary Fund will not monitor and audit the Spanish accounts,
but this is very doubtful. 

Certainly, bankers and politicians
can be relied upon to ‘wet their beaks’ when a fresh influx of cash arrives,
yet it should be remembered that bailout money comes from the collective of
countries within the European Community and that most of those countries are,
laughably, already near bankruptcy themselves and desperately in need of interest
payments and repayment of the loans in due course; a bailout is not a gift and
comes with strings attached. The eyes of the Spanish creditors; in this case
fellow bankers and politicians, are bedfellows in the cunning arts of
corruption and thievery are therefore poachers turned gamekeepers. Set a thief
to catch a thief.    

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Topic: Exchange Rate Predictions 2012
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