So, with the Big Dog, euro getting taken to the woodshed for its indiscretions with Eastern European loans… BUT REMEMBER I TOLD YOU THIS… The European bank losses are NOTHING compared to those in the U.S. My friend, John Mauldin, said that they “Dwarf those in the U.S.†And… Remember, The Eurozone began this meltdown in a position of strength! The U.S. was on its knees begging for foreign investment to finance their IOU’s… The rest of the dog pound is getting taken to the woodshed too! Shoot Rudy, even Japanese yen, which didn’t get mentioned by G-7 for its strength, is losing ground to the dollar this morning. There’s not a currency anywhere on the scorecard that’s not going 0-for 4 against the dollar today… UGH!
When Will Foreigners Say, No Mas?
Posted by StingingNettle 356 days ago (http://www.dailyreckoning.com)
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