EURO MANIPULATION: 9.40 am BST, and it’s game over

In a brazenly synchronised return to normality this morning, the euro continued its decline against other major currencies. Following a day in which a Monty Pythonic ‘Nobody expects the euro recovery’ sketch was played out, the manufactured upswing was abruptly reversed at 9.40 am London time.

Yesterday’s contrarian 24-hour rally of the EU currency caught even the FT unawares; somehow yesterday, it wound up printing a Short View column that asserted:

‘The euro was the first to feel the presumably unintended consequences of Germany’s bombshell naked short selling ban. It slumped more than a cent against the dollar’.

The piece got forgotten – but serves to ram home just how crazy a ‘currency recovery’ is when both the commentariat and events suggest a huge flight of investors elsewhere.

If only there was a way of finding out what the Goldman Sachs proprietary and commission trades were during that surreal window of opportunity….was yesterday another one of their 63-straight days of profit?

I think we should be told.

One thought on “EURO MANIPULATION: 9.40 am BST, and it’s game over

  1. I agree that we should be told. Until there is some kind of transparency, the inernational trades of stocks and currencies is effectivley without credibility. If that becomes apparent to enough people there will be a wholesale loss of confidence and who knows quite where the bottom of that abyss is!


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