Richard Bailey's  Instablog

Richard Bailey
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Richard D Bailey is the founder of, a website devoted to examining global and national political and economic events. He is also the publisher/manager of The Phantom Fund, a hypothetical investment fund which benchmarks Politinomics' investment thesis against recognized market... More
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  • What Is Holding Up The Euro? (FXE) 0 comments
    May 1, 2012 8:48 AM | about stocks: FXE

    I read an interesting comment on this weekend that stated that the Euro is being propped up by EU banks shedding assets over seas at a rapid pace and bringing that capital back home.

    Which begged my question - if they are shedding assets rapidly than that would imply that they are doing so a values less than stated FMV (whatever that is).

    As a result then doesn't that imply that additional write downs will soon be showing up on bank balance sheets?

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Stocks: FXE
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