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The entire financial system is going to be put at test in an no so distant future and since Greece has been on the front stage for such a long time I think it's time to address this issues and give you my own perspective on this matters and what would be the implications of an disruptive event like Grexit.
There are many times that nothing happens for a long period of time until all of a sudden everything happens at once and what is more important the markets are paying attention and we get extreme moves like we saw last week.
For traders who operates in the FX Market it's easy to understand that Greece debt problems was that they converted their debt from drachma to euro and then the currency rose from 80 cent to $1.60 against the US dollar. This effectively doubled their debt in real terms and now servicing that debt is almost impossible without a serious debt haircut.
  • Greece Referendum

Since I'm writing this article over the weekend I have no idea what the outcome of the referendum would be. So, you may be asking yourself what is this Greece Referendum all about, and in simple words is this: Greek people are being asked to vote on whether to accept/ or not current proposal fr…
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Lyubant avatar
Lyubant 22 July

great!

Agnessa26 avatar
Agnessa26 27 July

Good Job!

anna_n avatar
anna_n 27 July

very smart, very!

Metal_Mind avatar
Metal_Mind 27 July

This is a never ending story. It may be prolonged by the EU ,,unity sentiment,,  but in my opinion the result will probably  be an exit just one costing a few hundreds billion euros more. Great points made as always.

WallStreet6 avatar

Great article! Nice approach to the topic! Now we know that with Greece nothing is definite and there may be even more turnarounds eventhough the situation seems resolved.

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32/43
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History: mother of all indicatorsCorrelation between economic circles and grand historical circle is not so obvious because of 1) timeframe in which we operate, 2) available quantifying data, 3) biased analytical approach, 4) range of expected results, 5) flawed analytical method.All of above combined creates a grand illusion of economic progres for the purpose of the ruling class and, on the historical timeline, short time gains.This is a game in which tactical advantages are gained at the expense of strategic gains.It seems when in rare occasions, strategy prevails over tactic structural adjustment are made and the current crisis is probably a case.   History repeats itself as a farceWho will detect the trend may laugh, and the elite who design/creates  the system, and falsified the data (historical, political, economical and if you want philosophical) will pay the price.History teach as that for the short term geopolitical gains we put at risk the entire system in which we operate, and how we accomplish this, primarily by falsifying historical data and run this data true rigid analytical method.For that purpose series of bankruptcy and consecvent bailouts in the ancient world mo…
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HumbleAko avatar

Maybe the European Monetary Union could falter but I feel it's highly unlikely anything will happen to the EU or USA. My dream for the future is that all these continental unions combine to create one single global union. With one single currency for the globe, we Forex traders may have to start looking for a new career. +1

Likerty avatar
Likerty 5 July

The best title here in the contest!:)

dimitar avatar
dimitar 26 July

tx for comments, august article: history mother of all indicators - an american election

OneGoodTrade avatar

I am not sure if history repeats itself or it's just the humans are repeating themselves in interpreting the present.

doctortyby avatar
doctortyby 22 Feb.

History is the main instrument to manipulate the Traders... it is so easy to follow the patterns :) ... and FAIL

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