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POOM in Iceland

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  • POOM in Iceland

    Here is the snapshot of POOM in Iceland:

    EUR-ISK.bmp

    http://www.ecb.int/stats/exchange/eu...ph-isk.en.html

    Igor
    Last edited by idianov; 10-06-08, 11:14 PM.

  • #2
    Re: POOM in Iceland

    Originally posted by idianov View Post
    Here is the live view of POOM in Iceland:

    [ATTACH]614[/ATTACH]

    http://www.ecb.int/stats/exchange/eu...ph-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.

    Comment


    • #3
      Re: POOM in Iceland

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

      Comment


      • #4
        Re: POOM in Iceland

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

        Double-digit interest rates = zimbabwe

        Comment


        • #5
          Re: POOM in Iceland

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

          Comment


          • #6
            Re: POOM in Iceland

            Originally posted by $#* View Post
            OK I can see the Poom, but where is the Ka?
            Here is the KA:

            iceland ka.bmp

            Followed by POOM:

            isk2.bmp
            Last edited by idianov; 10-08-08, 03:02 PM.

            Comment


            • #7
              Re: POOM in Iceland

              Originally posted by phirang View Post
              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.

              Comment


              • #8
                Re: POOM in Iceland

                hope you don't have Mexican Pesos...

                Comment


                • #9
                  Re: POOM in Iceland

                  Originally posted by grapejelly View Post
                  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.

                  Comment


                  • #10
                    Re: POOM in Iceland

                    Icelandic Stock Market is now KA-PUT:

                    Ci081015000527.jpg

                    Icelandic Krona is KA-POOM'ed:

                    Ci081015000749.jpg

                    Comment


                    • #11
                      Re: POOM in Iceland

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

                      Comment


                      • #12
                        Re: POOM in Iceland

                        Originally posted by idianov View Post
                        Icelandic Stock Market is now KA-PUT:

                        [ATTACH]653[/ATTACH]

                        Icelandic Krona is KA-POOM'ed:

                        [ATTACH]654[/ATTACH]
                        So is this what we have to look forward to in the US?

                        Comment


                        • #13
                          Re: POOM in Iceland

                          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.

                          Comment


                          • #14
                            Re: POOM in Iceland

                            Originally posted by grapejelly View Post
                            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...
                            sigpic
                            Attention: Electronics Engineer Learning Economics.

                            Comment


                            • #15
                              Re: POOM in Iceland

                              Originally posted by idianov View Post
                              Icelandic Stock Market is now KA-PUT:

                              [ATTACH]653[/ATTACH]

                              Icelandic Krona is KA-POOM'ed:

                              [ATTACH]654[/ATTACH]
                              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?p...A&refer=europe

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