User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Monday February 23, 2009 - 14:08:52 GMT
Black Swan Capital -

Share This Story:
| | Email

Dodd Dollar Dump

Key News
• The euro zone's financial system is under severe strain and net credit flows have started to fall in recent weeks, European Central Bank President Jean-Claude Trichet said on Monday. (Reuters)
• Thailand's economy shrank for the first time in nearly a decade in the fourth quarter as the global slowdown squelched exports and political unrest hit tourism, the government said Monday. (AP)
• The United Arab Emirates said Sunday it will spend $10 billion to bail out the once-highflying emirate of Dubai.
Key Reports Due:
10:30 a.m. Feb Dallas Fed Mfg Production Index: Previous: -15.4.


“The general shape of the universal delusion may be indicated by three of its familiar features.

“First, the idea that the panacea for debt is credit.

“Second, a social and political doctrine, now widely accepted, beginning with the premise that people are entitled to certain betterments of life.

“Third, the argument that prosperity is a product of credit, whereas from the beginning of economic thought it had been supposed that prosperity was from the increase  and exchange of wealth, ad credit was its product.

“Result: Much more debt.  A world-wide collapse of foreign trade, by far the worst since the beginning of the modern epoch.  Utter prostration of the statistical serpents.  Credit representing many hundreds of millions of labor days locked up in idle industrial equipment both here and in Europe.  It is idle because people cannot afford to buy its product at prices which will enable industry to pay interest on its debt.  One country might forget its debt, set its equipment free, and flood the markets with of the world with cheap goods, and by this offense kill off a lot of competition.  But of this thought occurs to all of them, and so all. With one impulse, raise very high tariff barriers against one another’s goods, to keep them out.”

    Garet Garrett, A Bubble That Broke the World (1932)

FX Trading – Dodd Dollar Dump

Gold did the deed, closing over the $1,000 mark on Friday as the dollar was sideswiped by Senate Banking Committee Chairman Chris Dodd.  Mr. Dodd, a man who pontificates on any and every subject under the sun and never lets real knowledge of a particular subject area stand between him and the nearest microphone decided to try out the N word—nationalization!  Traders viciously dumped the dollar on Dodd’s “deliberation.” 

 (Chart unavailable in text format.)

And of course the games continue! 

The dollar was sharply lower on opening in Asia last night with nationalization of US banks ruling the headlines.  But of course the US isn’t the only one flirting with bank nationalization.  A second look at Europe and Japan and just about anywhere one cares to look and its ugly!  

The euro has already reversed 200 pips from its high overnight, likely due in part to Mr. Trichet weighty assessment that Europe’s financial system is under huge strain.  I say weighty because one should never confuse statements by Trichet with anything dribbling from the constantly flowing font that is Dodd. 

We were of the opinion UK banks would beat others to the race toward complete bank nationalization.  But it’s probably splitting hairs as de facto nationalization seems the order of the day.  Why buy financials in your 401k when you own them anyway?

I used to tell people that currency analysis was like being the judge at an ugly contest; the least ugly wins.  But now, there is little that separates the degree of ugliness among all competitors.  Thus, we have gold printing over $1,000 and who knows where from here. 

Gold has soared against the euro and pound and Aussie and US dollar; though it hasn’t made a new high yet against the buck. 

 (Charrt unavailable in text format.)

Though we cling to our story the world reserve currency continues to be buoyed at a time like this, we admit to covering our eyes with our hands when we see the US government’s supercharged attempts to spend its way out of a debt deflation…ugghh. 

(Chart unavailable in text format.)

 Replacing public debt to the same or increasing degree in which private debt is written down (public debt really means private debt because the private sector does all the wealth creation—while government mostly destroys it trying to “help” us) is no way to allow the system to cleanse.  But with pontificating pandering politicians never more than two minutes away from a microphone, that is where we seem stuck.  And we wonder why we aren’t seeing any “traction.”  It is to cry, or maybe time to buy more gold.  Maybe both!

Jack Crooks
Black Swan Capital LLC


Forex Trading News

Forex Research

Daily Forex Market News
Forex news reports can be found on the forex research headlines page below. Here you will find real-time forex market news reports provided by respected contributors of currency trading information. Daily forex market news, weekly forex research and monthly forex news features can be found here.

Forex News
Real-time forex market news reports and features providing other currency trading information can be accessed by clicking on any of the headlines below. At the top of the forex blog page you will find the latest forex trading information. Scroll down the page if you are looking for less recent currency trading information. Scroll to the bottom of fx blog headlines and click on the link for past reports on forex. Currency world news reports from previous years can be found on the left sidebar under "FX Archives."

Actionable trading levels delivered to YOUR charts in real-time.

Register To Test Your Amazing Trader

GVI Trading. Potential Price Risk Scale
AA: Major, A: High, B: Medium

Tue 17 July 2018
AA 08:30 GB- Employment
A 13:15 US- Industrial Production
AA 14:00 US-Powell Testimony
Wed 18 July 2018
AA 08:30 GB- CPI
A 12:30 US- Housing Starts/Permits
AA 14:00 US-Powell Testimony
Thu 19 July 2018
AA 1:30 AU- Employment
AA 08:30 GB- Retail Sales
A 14:30 US- EIA Crude
A 12:30 US- Weekly Jobless
Fri 20 Jun 2018
A 12:30 CA- CPI/Retail Sales

John M. Bland, MBA
co-founding Partner,

Global-View Affiliate Program

We are starting an affiliate program to market some of our products.

Send me an email if you would be interested or if you know someone who would like to be an affiliate. Generous commissions payout for those accepted.

Put the word "affiliate" in the email subject line.

Contact us

Start trading with forex broker Markets Cube

Max McKegg's Daily Forex Trading Forecasts

Veteran FX Trader, Max McKegg, forecasts all the Major currencies and the Australasians; providing Daily and Medium Term Trading forecasts to subscribers, who include large Banks the world over, as well as individual traders in more than 30 different countries.

Request a TRIAL of Max's Forex Service.


Retail Forex Brokerage Changing!

Are you looking for your first broker or do you need of a new one? There are more critical things to consider than you might have thought.

We were trading long before there were online brokers. Global-View has been directly involved with the industry since its infancy. We've seen everything and are up-to-data with recent regulatory changes.

Our Best Brokers listing section includes:Forex Broker Reviews, Forex Broker Directory, Forex Broker Comparisons and advice on How to Choose a Forex Broker

If would like guidance, advice, or have any concerns at all ASK US. We are here to help you.

SEE Our Best Brokers List

Currency Trading Tools

  • Live rates, currency news, fx charts. 

  • Research reports and currency forecasts.

  • Foreign Exchange database and history.

  • Weekly economic calendar.

Directory of  Forex trading tools

Terms of Use    Disclaimer    Privacy Policy    Contact    Site Map

Forex Forum
Forex Trading Forum
Forex Forum + forex rates
Forex Forum Archives
Forex Forum RSS
Free Registration

Trading Forums
Currency Forum Guide
Forum Directory
Open Forum
Futures Forum
Political Forum
Forex Brokers
Compare Forex Brokers
Forex Broker News
Forex Broker Hotline

Online Forex Trading
Forex Trading Tools
Currency Trading Tools
Forex Database
FX Chart Points
Risk/Carry Trade Chart Points
Economic Calendar
Quicklinks to Economic Data
Currency Futures Swaps
Fibonacci Calculator
Currency Futures Calculator

Forex Education
Forex Learning Center
FX Trading Basics Course
Forex Trading Course
Forex Trading Handbook

Forex Analysis
Forex Forecasts
Interest Rate Forecasts
Central Bank Forecasts

FX Charts and Quotes
Live FX Rates
Live Global Market Quotes
Live Forex Charts
US Dollar Index Chart
Global Chart Gallery
Daily Market Tracker
Forex News
Forex Blog
Forex News
Forex Blog Archives
Forex News RSS
Forex Services
Forex Products
GVI Forex
Free Trials
FX Bookstore
FX Jobs and Careers
Jobs USA
Jobs UK
Jobs Canada

Forex Forum

The Global-View Forex Forum is the hub for currency trading on the web. Founded in 1996, it was the original forex forum and is still the place where forex traders around the globe come 24/7 looking for currency trading ideas, breaking forex news, fx trading rumors, fx flows and more. This is where you can find a full suite of forex trading tools, including a complete fx database, forex chart points, live currency rates, and live fx charts. In addition, there is a forex brokers directory where you can compare forex brokers. There is also a forex brokers hotline where you can ask for help choosing a forex broker that meets your individual fx trading needs. Interact on the same venue to discuss forex trading.

Forex News

The forex forum is where traders come to discuss the forex market. It is one of the few places where forex traders of all levels of experience, from novice to professionals, interact on the same venue to discuss forex trading. There is also the GVI Forex, which is a private subscription service where professional and experienced currency traders meet in a private forex forum. it is like a virtual forex trading room. This is open to forex traders of all levels of experience to view but only experienced currency tradingprofessionals can post.

Currency Trading

Currency trading charts are updated daily using the forex trading ranges posted in the Global-View forex database. You will also find technical indicators on the fx trading charts, e.g. moving averages for currencies such as the EURUSD. This is another forex trading tool provided by

Forex Brokers

The forex database can be used to access high, low, close daily forex ranges for key currency pairs, such as the EURUSD, USDJPY, USDCHF, GBPUSD, USDCAD, AUD, NZD and major crosses, including EURJPY, EURGBP, EURCHF, GBPJPY, GBPCHF and CHFJPY. Data for these currency trading pairs dating back to January 1, 1999 can be downloaded to an Excel spreadsheet.

Forex Trading

Forex chart points are in a currency trading table that includes; latest fx tradinghigh-low-close range, Bollinger Bands, Fibonacci retracement levels, daily forex pivot points support and resistance levels, average daily forex range, MACD for the different currency trading pairs. You can look on the forex forum for updates when one of the fx trading tools is updated.

FX Trading

Global-View also offers a full fx trading chart gallery that includes fx pairs, such as the EURUSD, commodities, stocks and bonds. In a fx trading world where markets are integrated, the chart gallery is a valuable trading tool. Look for updates on the Forex Forum when the chart gallery is updated.

Forex Blog also offers a forex blog, where articles of interest for currency trading are posted throughout the day. The forex blog articles come from outside sources, including forex brokers research as well as from the professionals at This forex blog includes the Daily Forex View, Market Chatter and technical forex blog updates. In additional to its real time forex forum, there are also Member Forums available for more in depth forex trading discussions.



By using this website, you are agreeing to our Privacy Policy and Terms of Use, and Cookie Policy

Copyright ©1996-2014 Global-View. All Rights Reserved.
Hosting and Development by Blue 105