GLOBAL MARKET PONZI SCHEME
The E.U. has gone over to the dark side by joining with the Fed in another Ponzi scheme which creates new money to pay the interest on old money. That’s what the U.S. did with TARP and the E.U. is now copying with the cooperation of the Fed. The latter has opened the swap window to allow for support of the euro. This drove the euro back above 130 but by the end of the day was back down to around 127. Meanwhile, the bureaucrats running the E.U. have accused free market “wolfpacks” of attacking European currency and sovereign debt instead of dealing with debt issues and needed reform. The easy thing to do is blame speculators and print money.