Testimonial

Thanks for the swift answer about the (UVXY). I got 7% profit in one day, so I'll close. What about the (VXX)? Can that be held for longer?

As for your question about Europe, it is not doing good. The reasons why are so simple. Spain, Portugal, Italy, and Greece have very different economies and different business cycles than Germany, France, and Belgium.

Sweden never joined the Euro currency because we knew that our business cycle is not the same as Germany and France, Belgium and some other country I have forgotten about.

Hence, we knew we needed our own central bank and our own currency to counterbalance these differences. That's exactly what Spain, Italy, and Greece need.

The problem in the EU can never be solved with QE because Greece, Italy, Spain need the Euro to always be much, much weaker than Germany, which is a net beneficiary of the Euro.

Do you know what happened in Spain after they adopted the Euro? The cost of a beer went from 2 to 3 Euro to 7 to 8 Euro in many places. As a tourist it's no longer cheap to go to Spain because it's almost the same price as in Sweden now, and it used to be half price!! Imagine how bad that is for a tourist-based country.

Regards,

Per,
Sweden

John Thomas responds: Yes, Per, the iPath S&P 500 VIX Short-Term Futures ETN (VXX) can be held for longer because I expect an imminent volatility (VIX) spike, and the cost of the contango with an 1X ETF will be much lower.