Friday, Nov 09, 2007
"Busting a cap in the Greenback's a***" - literal excerpt
Urban Dirt - Timesonline Blog: Is the US dollar a load of old rap?
"Jay-Z says sell dollar-euro!" was the excitable scream in certain dark corners of Tokyo's currency floors this morning as the clip did the rounds on the message-boards and trader chat-rooms.
Which is all very well, but does rather depend on where you think Jay-Z (or any other rich rapper, for that matter) features in the wider currency cycle. Are these artists leading or lagging indicators? Are the forex decisions made in Brooklyn and West Compton ahead or behind Wall Street and the City? Is it like the story of John Pierpont Morgan and the shoe-shine boy? Does Jay-Z's coded bull-call on the euro mark the bottom for the dollar, or will the market "pop another cap" in the greenback's a***?
Posted by lvmreader @ 01:01 PM (447 views) Add Comment
5 Comments
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1. alan said...
The US dollar isn't yet, but Barclays may soon be. See Reuters...changing fast now!
Shares suspended....Oooops
2. alan said...
Barclays shares are now trading again.
A "technical problem" caused suspension. They are now down 9% .....
Announcements due soon, I think.
3. planning4acrash said...
Phew. That's BIG news. Can the BOE bail out Barklays now? If that happens then what we are talking of is the wholesale nationalisation of the banking system. In which case they really should be buying the banks for £1 and bringing them under central control. Sounds freaky, but otherwise why waste tax payers money and why not let them go under?
4. mrmickey said...
Although Sterling is still strong up against the Dollar it's starting to slide against The Euro.
5. drewster said...
After Japan's 1986-90 house price bubble, the banks were left with many bad loans. The government supported them through various measures including tighter regulation, very low interest rates, nationalisation, and coerced mergers (similar to what nearly happened with Lloyds / Northern Rock). No doubt we can expect to see more of the same here.