Brazen and parasitical ‘Hedge fund speculators’ retreat as the -€- EURO remains firm

August 14th, 2010

EU Central Bank Frankfurt- foto Wikipedia -http://www.flickr.com/photos/maveric2003/ - Eric Chan

Berlin/Strasbourg 15-08-2010

While the Euro did go down to a low value in May and June – it recently regained its lost value and presently the Euro is holding its own – despite all the cassandras and negative predicitons from UK and American money markets.

‘Cassandra’ s are people whose prophetic insight is obscured by insanity, turning their revelations into riddles or disjointed statements that are not fully comprehended – perhaps this best describes these Anglo-American Euro critics!

Speculation on the decline of the Euro has now diminished and the horror-show scenarios which emanated from these same Anglo-American sources at the beginning of the year did not come to pass – this can in large part be attributed to the speculators’ forced retreat.

Fears of the Euro’s imminent collapse did not materialize subsequent hedge fund bets are now only a fraction of what they were in May this year.

Positive economic data from Spain and Greece, positive economic growth in Germany and a weakened dollar in the US have led to losses for negative euro speculators – some quite substantial. [We really feel sorry for their losses ! sic]

The Euro is not positioned to really exceed other currencies -the dollar, yen or Renminbi – it has no ambition to become an instant ‘high-flyer’ – the Euro is here for the long term.

The Euro is and will remain what it was designed to be – nothing more and nothing less than a stable currency.

Short History of the Euro-

The Euro – € – is the official currency of the ‘Eurozone’ – namely 16 of the 27 states of the EU and is the official currency used by the EU institutions.

The’Eurozone’ consists of Austria, Belgium, Cyprus, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia and Spain with Estonia due to join the in 2011.

The currency is used in 5 other European countries is therefore used daily by some 327 million Europeans – further 175 million people worldwide use currencies which are pegged to the euro, including more than 150 million people in Africa.

The euro is the second largest reserve currency (a status it inherited from the German mark) as well as the second most traded currency in the world after the U.S. dollar.

As of June 2010, with more than €800 billion in circulation, the euro is the currency with the highest combined value of cash -banknotes and coins- in circulation in the world, having surpassed the U.S. dollar.

Tags: Anglo-American Euro spectics, Brazen and parasitical ‘Hedge fund speculators’, Euro holds its own, Euro-sceptics

This entry was posted on Saturday, August 14th, 2010 at 23:27 and is filed under Berlin, Economy EU. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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