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The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
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DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...
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Monday, December 26, 2011

European Stability Mechanism

This excerpt is from Wikipedia:
"The European Stability Mechanism (ESM) is a permanent rescue funding programme to succeed the temporary European Financial Stability Facility and European Financial Stabilisation Mechanism in the 17-member Eurozone. The ESM is due to be launched as soon as Member States representing 90% of the capital commitments have ratified it, which is expected in July 2012.[1]"

Here is the link to that article:
http://en.wikipedia.org/wiki/European_Stability_Mechanism

Below is a video on this subject, which a trading acquaintance recently brought to the attention of fellow traders:


From my limited exposure to this proposal, it appears to me that they're going to create a bottomless money-sucking vacuum with no accountability from a select few in charge...sounds like a hard-line dictatorship in the making to me...