Today’s Call: Euro to fall vs US Dollar. Currently $1.4311:1€.
Rationale: With the Greeks passing austerity measures in the face of widespread protests, the Euro got a temporary boost today. These types of jumps usually pull back in the short term. The Euro just double peaked on a triple top vs. the USD and is generally in a bear trend which should be reinforced post June 30th.
Calls to Date: Good Calls: 32, Bad Calls: 28, Batting .543
Daily Default: PMI Group, Inc., third largest guarantor of US Mortgages.
Key Indicators for Wednesday, June 29, 2011
Gold Price Per Ounce: $1,511 BENEFITING FROM PERMANENT UNCERTAINTY
MINT Perceived Target Rate*: 2.25%
Unemployment Rate: 9.1%
Inflation Rate (CPI): 0.2%
Dow Jones Industrial Average: 12,261
M1 Monetary Base: $1,895,400,000,000 RED ALERT!!!
M2 Monetary Base: $9,086,900,000,000 YIKES!!!
*See the MINT Perceived target Rate Chart. This rate is the FED Target rate with a 39 month lag, representing the time it takes for the FED Target rate changes to affect the real economy. This is a 39 months head start that the FED member banks have on the rest of us on using the new money that is created.