Currency Wars

While the majority of people are focused on the November 2 elections, the stock market is focused on one thing only: 2:15 PM Eastern time November 3rd. Why? That's when Printin' Ben Bernake announces the size of the latest "Quantitative Easing". Our monetary masters prefer the fancy term for printing money the same way your neighborhood garbage man prefers "Sanitation Engineer".
Problem is, the rest of the world isn't planning on letting us print our way out of this mess. ECB to respond in kind as FED weakens dollar On Nov. 3 at about 2:15 p.m. in Washington, the Fed will release its policy decision. About 18 hours later, at noon in London (8 a.m. in New York and Washington), the U.K. central bank will announce its move. The ECB will go public with its decision 45 minutes later, at 1:45 p.m. in Frankfurt (8:45 a.m. in New York). The Bank of Japan concludes its talks on Nov. 5 at about noon local time (11 p.m. in New York).

They have printers too and by golly they're prepared to use them...not to help unemployment as Ben says but simply to offset the Fed. Check and Mate. The losers in this will, of course, be anyone who doesn't make enormous amounts of money (the bottom 90% of society) as central banks flush their paper currencies down the toilet. Maybe Printin' Ben is due for a new nickname. The Trillionator. Hasta la Vista, dollar.

Currency War escalates
Dollar drops most in 4 weeks on Fed move
U.S. Dollar Index breaks long-term support
Spend and Pretend strategy pummelled by G20

Nov 8th Addendum: The stock market reaction to Ben's widely expected and anticipated move on Wednesday was...nothing. The market closed marginally up on Wednesday. You usually get a "sell the news" reaction to such an anticipated event...everyone knew it was coming. What everyone DIDN'T know was the reactions of all the foreign central banks. By Thursay morning, the verdict was in and no other central banks were firing up the presses...yet. I believe this is why you had the tremendous gap up Thursday and technical breakout. "They ARE going to let us print our way out of this!" thinks Mr. Market. We shall see. Ponzi on for now, Wayne. I also found this excellent article by Andy Xie on the inevitable end-game of currency wars:

TO HELL THROUGH QE