“There are very real problems brewing in the smaller currencies of the world that do not seem to be upon the radar screens of the world's capital market's traders.”
“Europe now finds itself in that terribly uncomfortable position that no matter what the monetary authorities do regarding interest rates, it shall be detrimental to the currency.”
“Friday's intervention efforts seemed long over-due, well organized and much needed. They shall prove fruitless, however, for of course the long-term economic reforms that Europe is in need of are only now, rather reluctantly, being put into effect, and only in small doses rather than materially.”
