BNPZY - The Italian Job - Part I: USD Vs. EUR
Background
About two and half months ago, I wrote an article named "Deutsche Bank, Banks And The USD: The Writing (Off) Is On The Wall (Street)"
A few readers/commentators were quite upset with me being negative about the European banking system (EUFN), and specifically about Deutsche Bank (DB).
Only seventy days later and it seems like, if anything, I should have rung the warning bells louder...
The bottom line of the original article contained four firm statements. In this article I'm going to go over these statements, look at