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четверг, 10 февраля 2011 г.

Bernanke and Trichet: push-pull

 700 thousand Russians play the stock market. Author: literator Date: 10.06.2008 11:39:09 REPLY from the Urals. Bernanke and Trichet: push-pull Financial markets last week pretty shook up and down. The London Times wrote that shtatovskih efforts to combat the "manipulation of the oil market" found a lively response from the authorities of the UK - so now the bosses of these two states is going any ways to cut energy market volatility and limit their speculative component. The authorities did not stop even the fact that this will require at least restrict access to the market for hedge funds and investment banks - which, incidentally, would mean a radical change in the whole of the current paradigm of "liberalization and deregulation." What will come of this venture, it becomes clear fairly soon - this weekend sit energy ministers "Big Seven", a week later - the finance ministers and heads of central banks: they may have and give birth to something interesting. Meanwhile, oil prices fell back in fright, nearly reaching $ 120 a barrel - but then intervened in the case developments in the foreign exchange market. The fact that one of the motivations for the oil drop was slightly strengthened dollar. And last week buck extra help Fed Governor Ben Bernanke - he said that the weak dollar is one of the greatest threats to U.S. economy: provoking a boom in commodity markets, he thereby spurring shtatovskih inflation - in less than five years before the American authorities finally realized that the dollar's role as world reserve currency and as the main denomination of commodity markets makes meaningless all neo-liberal mantra of textbooks. Bernanke added that he likes the current level of interest rates the Fed - which implies that the downside cycle is completed. Moreover, now the markets have already laid at the beginning of a rate hike in the autumn - and this view is strongly encouraged other Fed board members, especially Evans, Cohn, Kroshner and Fisher. Besides Bernanke, as it launched the process of monetary tightening in Asia - it has entered Indonesia and the Philippines, and in turn, it seems, Malaysia and India. Anyway, after a speech the head of the U.S. Federal Reserve Bucks felt pretty good. But only until Thursday, when it joined the head of the ECB Trichet - at a press conference after a meeting of the central bank, he suddenly returned to the extremely harsh rhetoric and even made it clear that he and his colleagues were ready to raise rates, but postponed the event to July, in advance to warn the markets. Because nothing like Trichet himself did not allow for almost a year, it is logical to assume the consistency of these two performances - and, dare we assume consistency, not only in the name of some lofty goals, but in a completely selfish interests: knowing in advance where to go after the word market, high ranks easily able to use these movements to your advantage - you can remember such as "fork" in the spring of 1998, when the fun then head of the German Bundesbank, Hans Titmayer (who promised to cut rates) and his deputy, Klaus-Dieter Kyubaher (soon to assure the public that the stakes will only grow), driving doychemarku back and forth during the week. Traces of speculative activity, which revealed that autumn, a negative impact on future career godfather of the euro Titmayera (suddenly sent to a pension), but Herr Kyubaher happily thrives to this moment as a deputy Bundesbank. But then, at least in the conspiracy consisted of officials of one country - and now, apparently, co-operation in speculation came to an international level: globalization is coming, though! - And, characteristically, occurs primarily in the form of a global fraud. Anyway, the result of all this ugliness (together with shtatovskih employment report) was a powerful jump in oil - just a couple of days, she played a considerable decline, and showed a new peak above $ 139 a barrel. During that fight, one wonders? .. Source: SmartTrade and CQG I confess, reviews Sergei Egischantsa read with interest and not without good cause.
However, at times, his analytical systematic changes in the abstract sketchiness, which, as you know, every sin and every subjectivism.
Here and now, juicy described "push-pull" Trichet and Bernanke Egischants made the assumption that, in any such analysis the question is quite necessary, but however, not quite enough.
Why?
Because, painted them, the picture is exactly how it looks to see if her eyes Forex ...
Strangely, however, that the author did not want to, thus, to complement its natural trader view of the subject is also a vision of history, and even "historiosophical.
Indeed, Trichet, Bernanke - are two fundamentally different, political economy of the modern world's wealth. Especially if erhardovskie remember the origins of the euro, as a contemporary phenomenon of global carrency.
A choice between the "political economy" refers, in fact, one and all ... Any one of us on this choice today is literally doomed.
As a reader, I remember another example of journalism S. Egischantsa. Namely: his recent arguments about the so-called, economic cretinism "patriots" who argue about the benefits of trade in the domestic oil "for Dollars."
Remember, he then escaped with a gesture of annoyance ... And sorry. That was also the subject for an interesting, actually theoretical analysis.
After all, it is obvious: if some of the Patriots - psevdoteoretiki, it is not necessary that all psevdoteoretiki in economic matters - is certainly the patriots!
Michael Kazarin
Accountant from the Permian.

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