Posted on 05/29/2005 8:15:34 PM PDT by Pikamax
Euro slides after France no vote
All Reuters News TOKYO (Reuters) - The euro skidded more than half a cent against the dollar early on Monday after France rejected the European Union constitution in a referendum, throwing doubts over the political future of the bloc.
Preliminary estimates put the "No" vote at 55 percent, higher than most polls suggested before the referendum on Sunday.
While the outcome was not expected to jeopardize the monetary union underpinning the euro zone's single currency and the European Central Bank, analysts said it does raise questions about the public support behind the EU and future integration.
"The French referendum does not mean the end of the euro. It just shows there are a lot of things the European Union should do for it to develop further," said Tohru Sasaki, chief forex strategist at JPMorgan Chase in Tokyo.
(Excerpt) Read more at news.moneycentral.msn.com ...
I hope Soros and Buffett take a beating.
Yeah I bet those boys are cutting their vacations right about now...
Probably trading like crazy over the Japanese market.... closing out their positions...
hmm dollar should be going up nicely...
Soros, Buffett and Gates, too. All have been short the dollar, I think (Buffett and Gates have publicly said so).
Whistling past a graveyard.
They are not shorting the dollar because the hate America, they are shoring the dollar because the people in Washington are fiscally irresponsible.
Ditto here! :)
I wouldn't disagree with that point (except with respect to Soros, perhaps).
Exactly right, this administration spends money like conservatives think Clinton did/would....I hated x42, but I could handle a little Clintonomics right now. Or at least the congress of his last term.
" The euro skidded more than half a cent against the dollar early on Monday "
A half cent doesn't sound like much of a skid, but it is a start!
Wait until the end of the week.
I bet Buffett and Soros are covering like mad--but the Euro is way overvalued and the jig is up.
Amen.
Soros, Buffet and Gates are elitist anti-Christians.
The American people must castrate their Government and its ability and willingness to spend. The ONLY way we can reduce the increase of Government spending is to have One Party in Control of the White House and the OTHER Party in Control of Congress.
It sure seems that way. What we really need is political parties cut off from the public dole. No deductions from taxes for donations to them. No money from taxes to any of their conventions. Make them pay for any security for candidates out of pocket. Break these boys up, with a dozen different parties in congress, we would be gridlocked with nothing new going on.........HURRAY.
Clintonomics was the confluence of two things. ERISA heralded the change from defined benefit pensions to defined contribution retirement plans AND Clinton managed to push interest rates to very low levels. Employees were forced to start putting money into 401k, stocks and mutual funds. Add the scam artist startups with skyrocketing stock prices and you had wild growth in the stock market.
The whole charade becomes a swift kick in the groin in 2016. The baby boomers start hitting age 70 that year. ERISA requires them to start taking distributions so the government can tax that money. When 75 million plus people start taking mandated distributions, the stock market is going to tank.
"It's those damn Anglos' fault."
THE DOLLAR IS THE GOLD STANDARD!
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