There was an interesting interview with Sarkosy yesterday. It reinforced my view that there really isn't a workable plan yet to resolve the Euro crisis. What is evident is that the Europeans are determined to keep everything afloat.
What does that mean to a day trader? More volatility!! There will be more rumours. There will be more fix attempts. The meetings that were held resulted in a holding action, to hold the status quo without an implosion until something more permanent can be done. What the cost of this fix will be is still unknown, but it will cost Germany buckets of money and probably other countries too, including China.
The result of all this is that billions of dollars, euros, etc have evaporated. This money has and will continue to disappear from the wealth of the world. It is not being redistributed. It's just evaporating. We're all having to reinvent the way that we store our wealth if we want to maintain and increase the real value of our assets.
In the meantime, the Chinese will have to play a bigger part in any solution to the existing world economic problems. It has been said that China holds about 60% of the world's currency reserves. It has to continue its policy of vendor financing to keep its customers buying from it.
And The Beat Goes On.
Tidak ada komentar:
Posting Komentar