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Exodus commented Oct 14, 2013"If a person is suppose to receive a payment on Oct. 18 th and they get it Oct. 25 instead, that is not a default it simply is a late payment." That is technically a default; and if the late payment causes a pension fund to have difficulty servicing ...
U.S. Risks Joining 1933 Germany in Pantheon of Deadbeat Defaults
- Exodus commented Oct 14, 2013
The problem is that the govt. has to roll-over the debt. That means it must redeem a load of T-bills (or whatever) and issue new ones. Normally that process happens without fuss and a bit of interest is paid to keep things sweet. Roll-over requires ...
USD: What If US Defaults? - Nordea
- Exodus commented Oct 14, 2013
Disagree. This statement "the dollar’s role as the world’s reserve currency would be in doubt" is understating things somewhat. Senators and Congressmen should read this article, and then ask themselves 'what are we doing?'
U.S. Risks Joining 1933 Germany in Pantheon of Deadbeat Defaults
- Exodus replied Oct 13, 2013
Japan has bank holiday on Monday. I will be surprised if there is much drive after Sydney opens.
USD/JPY Discussion
- Exodus commented Oct 13, 2013
This has happened in every major western economy. The goals of business and the national interest are not the same. Only change will fix it. So far there are no viable alternatives.
Obama Rejects Republican Proposal for Short-Term Debt Limit Plan
- Exodus replied Oct 11, 2013
...hmm, it has been a while since I posted here... Slow progress on the beer fund but ahead so far this month, including negative trade still open. In the event that the US debt ceiling is raised this trade should turn positive quite quickly. It ...
(binned per thread starter's request) The big... IF
- Exodus commented Oct 11, 2013
I watched Mr.Lew speaking to the senate on a ZH feed. He was questioned many times on two things; mainly 'why do we keep having this discussion over debt ceiling every few months?', and 'how bad will it be if the US defaults?'. It seemed to me that ...
Obama Rejects Republican Proposal for Short-Term Debt Limit Plan
- Exodus replied Oct 11, 2013
You are right about tapering. The result of no tapering will be to drive the stock market upward, which includes the Nikkei. A few positive reports from Japanese companies will fan the Nikkei - and in which case UJ will go up.
USD/JPY Discussion
- Exodus commented Oct 10, 2013
Wow! The US has been operating extraordinary measures to meeting obligations since May! Unbelievable - except that I think I just heard that...
Jack Lew Rains Fire And Brimstone Over Debt Ceiling Impasse - Live Testimony
- Exodus replied Oct 10, 2013
I was feeling ballsy and added a long.... edit: I whimped-out until after the unemployment claims figures.
USD/JPY Discussion
- Exodus replied Oct 10, 2013
I did the same with one of my positions. I am rather disappointed that my long entry order was not filled over night. Not even close to 97.15! Just waiting for a pullback now. Did you see the subscription numbers for JGBs?
USD/JPY Discussion
- Exodus commented Oct 10, 2013
Hugely over-subscribed
Auction Result of 30-Year JGBs on October 10, 2013
- Exodus commented Oct 9, 2013
On the daily chart PA is above the 50MA, which is sloping upward. On 4hr chart the 50MA has recently flattened from sloping upward. However 1.6250 is a resistance which rejected price downward in the past few days, so there is a likelihood that ...
UK Index of Production, August 2013
- Exodus commented Oct 9, 2013
Dollar has been strong everywhere this morning, except Oz and Nz. Nikkei posted strong gains and UJ lifted somewhat. Personally I think it is the Yellen effect strengthening US$, now followed by disappointing production figures.
UK Index of Production, August 2013
- Exodus commented Oct 9, 2013
That is one method that may caused the political morons to think a bit more deeply. Unfortunately as P_C writes this is businesses accepting US$ in the form of T-bills, and the only thing that will change that is if they stop accepting the bills.
Big creditors China, Japan press U.S. to resolve debt row
- Exodus replied Oct 9, 2013
On Monday the daily just tickled the lower Bollinger band so there is a good chance of a rise from here, IMHO. On 4hr the 50MA is at ~97.50 so I expect PA to hook-up around that level; if 97.50 is rejected we look for action around 96.50 again. ...
USD/JPY Discussion