"Update: $1700
As for those confused why EURUSD is back at 1.31, here is a reminder from 3 days ago: "Poor Mario apparently fails to grasp that for Germany a plunging Euro, and thus a surging export market to offshore trading parterns, is the only thing that matters now that its endogenous mercantilist import, pardon, trading partners of the past decade, the PIIGS, have no more debt capacity to buy German exports. Although even a technocrat probably understands that one does not get a weak currency by bailing out the weakest links over and over. Expect the European crisis to be with us for a long time. After all, that's precisely what Germany wants (of course, the Chairsatan may have other views on the matter)." It appears he did have "other views."
at http://www.zerohedge.com/news/gold-extending-gains-realization-feds-only-option-ctrlp
As for those confused why EURUSD is back at 1.31, here is a reminder from 3 days ago: "Poor Mario apparently fails to grasp that for Germany a plunging Euro, and thus a surging export market to offshore trading parterns, is the only thing that matters now that its endogenous mercantilist import, pardon, trading partners of the past decade, the PIIGS, have no more debt capacity to buy German exports. Although even a technocrat probably understands that one does not get a weak currency by bailing out the weakest links over and over. Expect the European crisis to be with us for a long time. After all, that's precisely what Germany wants (of course, the Chairsatan may have other views on the matter)." It appears he did have "other views."
at http://www.zerohedge.com/news/gold-extending-gains-realization-feds-only-option-ctrlp
