POOM in Iceland

[idianov]

Here is the snapshot of POOM in Iceland:

614

http://www.ecb.int/stats/exchange/eurofxref/html/eurofxref-graph-isk.en.html

Igor

[metalman]

Here is the live view of POOM in Iceland:

614

http://www.ecb.int/stats/exchange/eurofxref/html/eurofxref-graph-isk.en.html

Igor

the question is... the krona is deflating against dollars and euros. what does the dollar have to deflate against. hmmmmm. hmmmmm. :D

http://www.usagold.com/images/gold-coins-images.jpeg

[grapejelly]

wow, I guess going long the kroner wasn't a good idea :eek:

[phirang]

for god's sake, I hope no one here went long kroner!

Double-digit interest rates = zimbabwe

[$#*]

OK I can see the Poom, but where is the Ka?

[idianov]

OK I can see the Poom, but where is the Ka?

Here is the KA:

619

Followed by POOM:

620

[Jay]

for god's sake, I hope no one here went long kroner!

Double-digit interest rates = zimbabwe
I was, the rates suckered me in for a while but I got freaked last month and bought the swissie. Thank goodness. Have Yen too. Energy getting crushed but still holding it waiting for poom.

[grapejelly]

hope you don't have Mexican Pesos...

[Jay]

hope you don't have Mexican Pesos...
Nope, plenty of bullion though...
might buy more. And a multifamily or two at 20 cents on the dollar.

[idianov]

Icelandic Stock Market is now KA-PUT:

653

Icelandic Krona is KA-POOM'ed:

654

[Chris]

That is very worrying. Does anyone here have news from the front?

[jtabeb]

Icelandic Stock Market is now KA-PUT:

653

Icelandic Krona is KA-POOM'ed:

654

So is this what we have to look forward to in the US?

[Lukester]

Jtabeb - I think some people are arguing here, that "it's going to be different" for the USD, and I think they do pose a very good question. USD simply cannot crash the way these other currencies do, because it stands a very good chance of taking everything else down with it. Or put another way, Rest of World will constantly be trying to "manage" it's decline, which means all others keep trying to chase it down.

So a US version of Iceland would kick of some really curious and much less clearly intelligible signals. Seems to me it would chase all the hard core of global savings into commodities and gold when it started crashing, rather than chasing those savings into other currencies. Maybe ONLY gold, because the global economy could be in a serious funk concomitantly. USD crashing could be so confusing an event (in that a clear disparity with other currencies was not showing up dramatically as this iceland sample) that even the smart money could remain momentarily confused as to where to go for a while (like now?).

Best bet is this USD event coincides wth the big gld spike. We knew that already, this just adds a slightly different wrinkle, in that one would not necessarily see a huge drop in the USD index? Frankly I'm wondering whether silver will completely crap out on it's supposed linkage to gold at that time. Fear could overcome it's moneyness.

[ocelotl]

hope you don't have Mexican Pesos...

I can tell you, first hand, getting out of the office at the middle of the crash (Wednesday 14:00 CDT) and seeing the people faces made me remember December 1994 and the 80's... Figuratively there was blood on the streets... I can tell you, whoever that bought mexican pesos at 0.07 USD at that moment did a big business if sold by last monday.

Still there's a lot of pressure around. Keep tuned and wait before moving...

[D-Mack]

Icelandic Stock Market is now KA-PUT:

653

Icelandic Krona is KA-POOM'ed:

654

It is kaput

Investors demanded a higher premium to hold Icelandic government bonds, while the price of the country's currency remained ``undetermined,'' according to TD Securities.

http://www.bloomberg.com/apps/news?pid=20601085&sid=a6_D.jvgUmFA&refer=europe

[steveaustin2006]

Frankly I'm wondering whether silver will completely crap out on it's supposed linkage to gold at that time. Fear could overcome it's moneyness.

Possibly, but don't we have an excellent example from 30 years ago about where capital flocks when investors perceive a dollar collapse/high inflation?