giovedì 6 settembre 2012

Draghi, don't fall for the trick!

Gambling & Bluffs

(English version of... Draghi, occhio al trucco!)
BCE's wizard-magician mesmerizes (almost) everyone:
"As part of our mandate, we are ready to do anything to save the Euro. And, believe me, that will be enough..."
Though from what it seems, there are quite a few skeptics.
Of course, because saving the Euro does not mean saving the countries in shambles, taking over or financing their huge debt.  The ECB has neither the mandate nor the financial resources (which are an exorbitant amount) in order to complete this mission impossible. Hypothetically speaking, if this were to happen, it wouldn't necessarily mean preserving the Euro, but rather that of the contrary - it would cause it to crash due to the sharp devaluation that would follow.
When you see a "dead end" sign...
But getting back to the subject at hand, one can camouflage the bluff with speech.
But there's doubt within doubt - how much is what these finance wizards say worth anyway?
They're not newcomers to the "sleight of hand', at the detriment of the people in terms of tears and blood (like the Greeks).
We'll soon see if what happened today will be a long-burning fire or just a flash in the pan...
It's just a matter of a few days (or maybe hours).
'Draghi's Eurozone rescue gamble may not bluff the markets for long', the title of an article from The Guardian...
Today's bullish speculators (*) will not sleep soundly tonight.
(*) Of course, because it's about speculation, what else?
By the way (and who knows why), for the mainstream media, speculators are the only ones who can make the markets decline/crumble.

July 28, 2012 Update
A brief reflection: Gambling and bluffing are two terms that are generally associated with casinos and games of risk. Today we see them used in important online newspapers about Draghi, the BCE's "number one" man.
But in looking at him, he actually does seem like some sort of magician or a skillful thief - even in his expressions...

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