It is no paranoia but each day that passes it becomes a more established fact that vested interests acting as 21st. century pirates are behind all the attacks on the Euro.
Ever since The Economist, Financial Times & WSJ lambasted Spain’s Prime Minister Rodríguez Zapatero last January, the markets have been watchful of the Euro and those members of the Eurogroup (Portugal, Italy, Greece & Spain) mentioned as “PIGS”; thus commenced a well planned offensive by no less than first-line hedge funds and CDS swap holders.
By comparing Spanish economy to that of Greece, the buccaneer British & American press were preparing the groundwork to link Greece’s dilemma with Spain. Further pressure was applied at Davos, with no less that Roubini making his interested statements to cast more than a shadow of a doubt upon the unemployment burdened Spanish economy.
In truth, it is unbelievable that markets can be so naive to fall for recommendations from economists like Roubini or investors such as Soros, who are directly implicated in investments schemes of their own or act as liaisons for influential investments funds. The investment advisors with such personal investment interests will never favour the small fry unless you play within their own investment funds. Even then, Soros (Soros Fund Management) and his sort reserve the best classified information only for their “select group of friends”.
Such seems to be what was brewing in that top-level New York dinner-meeting of hedge fund promoters a month ago (February 8th.). Availing of Greece’s possible public debt default, like vulgar scavengers, all set their eyes in weakening the Euro against the U.S. Dollar, in order to rake in fabulous profits in short-selling & CDS operations (practice that caused Lehman Brother’s bankruptcy) that would not only alter currency exchange equilibrium but likewise destabilise stock exchange markets.
In spite of said attack, the bet of a 1 to 1 ratio rate between the Euro and the U.S. Dollar has not been reached. Expected profits fell short of expectations. This can only mean that the buccaneer American & British press must press on till these financial pirates can reach their profit goal in this first quarter of 2010.
Fernando Fuster-Fabra, Madrid