I don't see why u get so offended by their tactics. After all, it's not like they haven't been warning you... If u have been in the market for some time, u must know by now that currency speculating is first and foremost a BULLY GAME. Some big dogs would push the herd a certain way until some bigger dogs would jump in and push back... So what are we to do?... Like the poor little whore, sometime we have to hold our nose and jump into bed with the enemy to make some dough!...
1. It depends on how you define small player. I have a mid level 6 figure account. I have been on this site for a long time, any of the traders who have been here for several years can attest to what type of trader I am. I would be willing to bet they would find you rather amusing. 2. My response to your call? My response is that your call looks bad. NZD just went south. I win. By the way, have you gotten stopped out yet, or are you one of those tough guys that doesn't use stops? 3. A million USD into a bet with an unknown trader from the internet? No, I wouldn't and couldn't do that. But neither can or would you. You're just a blowhard. 4. (I added a "4"). You have on your profile that your occupation is "Hedgfundmanager". I think that is the most amusing thing I've heard in the last week! Bye now.
Try looking at things from the Kiwi perspective ( the other side) NZ is not unlike the US, except it is not. The US fed prints oil reserve dollars and thereby incurs debt. NZ imports dollars and euros by way of RE sales and hedge funds and thereby incurs a liability hanging over their heads. All this at the expense of the NZ farmer who should be the backbone of the country. However now the name of the game is to have sufficient cash flow to support interest payments against RE that is to be sold one day for a huge profit. However, this game is not working since kiwi households are among the most indebted in the world. The NZ gov should have tackled the currency problem a long time ago before it got out of hand and reached the intolerable point of 76 cents plus 8% bank rate. However, they are too busy rearranging deck chairs to notice what is happening to the ship and now the inhabitants are stuck with some of the most overpriced RE on the planet. Should the kiwi & bankrates fall ... of course. Should we be placed in the position of having this conversation ... of course not.
The kiwi is back up to last week's level, and not a peep from RBNZ yet. Is Bollard an emasculated coward or an incompetent fool after all ?:eek:
To give the guy a break, last weeks intervention may have been a shot across the bows and he hoped that the hedgies would see reason. Obviously, this has not happened and so do not be surprised if the next move is savage.
It better happens soon... The longer he takes to back up his words and timid warning shot, the higher the risk the savage will perceive him as a spineless wimp and beat down the hatch and rape n burn everything in sight!