I have read a 'lot' about yesterday's coordinated Central Bank 'swaps' [read: intervention] but this is by far the best, and shortest, analysis of what REALLY happened:
"Yesterday's coordinated Central Bank intervention was like the Captain of a Trans-Atlantic flight announcing that three of four engines had failed, but the remaining ONE might get you to the destination." Steen Jakobsen, Saxo Bank
Friday 2 December 2011
In a nutshell................from Rico
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