There is hope for them, temporarily. Drunkards are always happy when there is more free drink available. Until it is all over, which in the case of a world economic financial system, will take years to develop. Meanwhile, the prudent will pay for the profligates' futures.
Get ready for a long profitable ride in the Euro, Pound and metals. Inflation is here to stay!
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Imagine a rooming house that was beautiful at one time, started to have some aging issues, and bad tenants were allowed to come and live there. After a while these tenants wouldn't even pay rent but started forcing their neighbors to pay their rent for them. Mice, rats and roaches became a run of the mill problem with those new tenants, because they felt no responsibility to clean up.
Some of the good tenants got tired of this and complained, but got no relief because the people in charge of the property felt that the bad tenants needed to be tolerated, and everybody complaining (even though they were bearing the costs of the bad tenants) needed to shut up and pay their rent.
Some of the good tenants started leaving, even though they had been perfect tenants and had improved the property themselves for years in the past.
To fill the empty rooms, the rooming house let in new tenants who were friends of the bad tenants. They were just as bad or worse, and soon stopped paying rent and forced the remaining good neighbors to pay for their rent too.
The rodent and roach problem got ridiculous. Small fires started happening at the property because so many of the bad tenants would smoke and were very careless with their matches after lighting up. It wasn't their property anyway. They had figured out ways to not to have to pay for anything but their cigarettes (they were always trying to figure a way to get somebody to pay for them too).
The obvious risks got so great, the remaining good tenants who were paying more and more for a worse environment started leaving in droves. The remaining ones got stuck paying huge multiples of their original rents for a dismal, decaying, dangerous habitat.
The people officially in charge of the property, didn't show that they cared at all. They got their money, why should they care?
One day, one of the original bad tenants was smoking in bed and fell asleep-- a big fire started and took out the whole building.
The rodent and roach problem disappeared overnight. And so did the bad tenants. The good tenants that had been prudent and refused to live in risk and in decrepit conditions were all safe and somewhere else with their stuff.
Someone just let a very bad tenant into our rooming house.
JR (Feel free to quote me - www.infiniteyieldforex.blogger.com)
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The XAG is doing well today. It is pushing us to new equity highs.
The week's remaining FirstStrikePlus trades:
- Gbp/Jpy: Short @ 154.84, stop 164.62. Trade in progress.
- Gbp/Usd: Short @ 1.5881, stop 1.6439. Trade in progress.
- Usd/Chf: Long @ 1.1664, stop 1.1460. Trade in progress.
- Usd/Jpy: Still no current trade
Trading account equity: $1,433.66.
Silver position equity: $210.00
(Current XAG price: $10.45 – 200 unit position average: $9.40)
TOTAL Equity: $1,643.66.
Now living with a bigger Sword-of-Damocles overhead. And a thinner thread.
Joel Rensink
www.infiniteyield.com
PS: To receive the FREE! trading rules for the Infiniteyield Forex Challenge ($499 value) and the semi-monthly newsletter about this challenge, send an email to: newsletter@infiniteyield.com and tell me to which address you would like it sent. Please do not use AOL, Hotmail or Yahoo addresses. They've been known to filter out more good mail than actual spam. Try a Gmail address. It's free, simple and perfect for traders!
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