Please Keep Selling the Euro Because It Will Only Strengthen Obama!!

As I have been saying before people are selling the Euro because of the worries regarding Greece. Folks, here is the interesting thing, most people in Euro land are not that concerned, whereas people outside of Euro land are.

Does that not seem odd to you? Should you not be asking why nobody in Euro land is concerned? Are the Euro land people that dumb? Notice how somebody appears to be concerned?

The Swiss Franc fell sharply against Euro and the Dollar very quickly. Such a moved could be motivated by an intervention by the Swiss National Bank to weaken its currency.
EUR/CHF jumped from 1.4635 to 1.4760 in 15 minutes to the highest price since January 20. But the pair is now pulling back and trades at 1.4720/25 at the moment of writing.

So why would the Swiss bank be intervening? Simple they don’t want a strong Swiss Franc. The Swiss bank likes to keep the Swissie in a certain range as it keeps things running smoothly.

But here is the biggest irony. Most likely everybody is jumping on the dollar long trade as a trade because after all Greece will collapse, and then Portugal, Spain and everyone else. However, it is only making the leaders of Europe excited. In 2008 Berlesconi and Sarkozy complained about the strong Euro.

"A very strong euro is hurting Italy’s economy. I will discuss intervening with the ECB with Sarkozy," Berlusconi said last week, referring to his hopes of forging a common front against the central bank with France’s President Nicolas Sarkozy, and possibly also with Spain. Berlusconi claims that the central bank’s policies have kept the euro too strong, squeezing European exporters out of world markets.

With a stronger dollar who do you think gets hurt? The American worker. Did Obama not say he wanted to grow exports? I ask how! American exports will be completely uncompetitive. So who do you think will call out for stronger speculation controls? Those getting hurt, namely the UK and the USA. Where this becomes really funny is that the UK and the USA have the biggest financial institutions. But the financial institutions in these countries are completely tone deaf! As they say, what goes around, comes around!

So PLEASE KEEP SELLING THE EURO! I live in Switzerland and have Euro land all around me. Me I am just laughing sitting on most of my cashed out positions. Remember at the beginning of Jan I said I was about to unload most of my portfolio. How much lower will we go? I am going to wait until the next earnings season to see the damage of the change in the strength of the US dollar.

BTW just to give you a hint of how overblown this is, remember what they said about Eastern Europe.