Trading forex without a trading plan is one of the biggest mistakes new traders are making. Before you start trading you should know that having a forex trading plan is one of the most important pieces of the puzzle for becoming a consistently successful forex trader. Many of the forex traders who are new in the forex market are trading without forex trading plan which is leading them to losing the account. Having a written plan means you are making an effort to hold yourself accountable to something pre-defined. The whole point of having a...
This fall the U.S. government can follow Detroit and declare bankruptcy but this time it can touch the whole country.Officially, the US national debt stands at $16.7 trillion, including nearly $12 million in debt held by the public in the form of Treasury Bonds. According to an influential University of California economist, the national debt is more than $86.8 trillion. Practically every month some country is the world goes bankrupt, officially announcing its financial insolvency and the complete exhaustion of its reserves. It can be poor...
Who will blink first, Spanish Prime Minister Rajoy or the bond market? Rajoy is willing to gamble with the bond market as well as the Germans as he hopes that an additional rollercoaster ride of Spanish bond yields will allow him to negotiate much better terms for a full bailout than what he is currently able to receive. Greece will be furious if Spain will be able to get an acceptable bailout since Greece was used as an example and hammered with economically unsustainable austerity measures in order to force the country into receivership....
Spanish Prime Minister Mariano Rajoy is Commander In Chief of the European Union’s biggest army. Not in a military sense, but on the social front as he is the sad leader of the biggest army of unemployed in the EU. His socialist predecessor extended assistance to the long-term unemployed for three years which expired today. In order to avoid social unrest he vowed to extend payments to the long-term unemployed for an additional six months. Rajoy may have averted social unrest and riots for the time being, but at the same time he...
Germany is the world’s second largest holder of gold, in reality they may be the biggest one, and currently holds an estimated 3,400 metric tons of gold. During the Cold War Germany moved a majority of its gold reserves out of Germany due to fears of an attack by the Soviet Union on West Germany. Given the geopolitical as well as geoeconomical problems, Germany will repatriate its gold reserves. The German central bank, Bundesbank, has announced that it will move its gold reserves from the New York Federal Reserve and the Bank of...
