-->die ersten Hilferufe aus einem US-Forum zum Morgen-Kaffee hereingestellt:

Hey Name Withheld,

I just got another email from the guy I told you about before in Cz
Repub. who owns 3 money changing houses and is an FX Spot trader as
well. This is his broken email to me summarizing, the USD is flat out
being dumped, still. It isn't making headlines for some"reason". He,
as you may remember I told you, has a strong tie to a large bank in
Cz...banker said they are flooded with USD from people changing their
accounts over to another currency...EUR, Cz money etc...anything to
get out of USD. The Chinese he says there are dumping all their USD.
We're not talking FX specs, we're talking mom and pop dumping what
they thought a month ago was a solid hedge…the USD.

The person has sent me two other emails in two weeks saying the same
thing..one of which you got already, evidently it is an ongoing thing
to sell off USD. I didn't know the Chinese are heavy into Cz but
evidently they are and dumping USD too. He says yards (Billions).
After all, he's the one changing it!

Take it for what it's worth but be real quick with that close button
on your Euro shorts should the house of cards implode faster than we
thought. It's already jumped the gun 2-3 weeks in my book. Here is the
letter from Prague contact: Dear XXXXX! Thanks for ur advice..I'm too
flat now just waiting. but if we don't go back to 1.2450 (Eur-Usd) in
the next 48 h, that meaning my friend the crash is sooner then later...it seems something from the G7 to take the usd down. I wana to be
honest with u I dont like the rush from big Chinese fish here they are
selling the usd at this level and buying any thing CZK..PLN..SFR... EUR..everything. they start from the morning..and I‚m talking with a
huge number as real money..they are changing their USD accounts and.. XXXXX Im talking about yards (Billions) my friend here in the CZ say
the Chinese have a large biz..operation..our CB(Central Bank) today
cant to hold the crash. it was the first time when the usd in czk at
24,95. Good luck my friend thank you once again luck see u soon....

End



Now the panic on the Chech guy is this....he sees Chinese dumping
billions of U$D a day through HIM, not caring about the rate. He has
no option but to facilitate the transactions. So he is now LONG a huge
amount of U$D in a market that has his Chinese customers freaked out
so much they are totally ditching the U$D for anything else they can
get liquidity for. This guy now has to go into the Interbank market
and try to get rid of this huge U$D position, but needs to ditch it
ASAP to avoid taking a huge loss on it. But there aren't many buyers
looking to stock up on the U$D lately, so it starts to fall.

What can happen is if he and others stop buying the U$D due to the
risk, it starts to fall and the Central Banks have to step in. last
fall there was a brutal U$D sell-off that lasted from Sept to Jan. The
Bank Of Japan spent an incredible amount of U$D (Trillions) trying to
slow the fall. We made a huge amount of $$$ off it too. The
"fundamentals" don't say it should happen again this fall but it is
looking that it might anyway due to the above activities perhaps.

In the FPT this could be a precursor to some kind of attack against
American interests.

Name withheld