by Pam Martens, Wall Street on Parade:
One would think we had asked for missile launch codes when we reached out to the futures exchanges to find out what caused the precipitous plunge in the U.S. Dollar’s futures contract at 4:04 P.M. Wednesday afternoon – long after the Federal Reserve’s market moving news had been digested by traders.
If currencies are now the new weapons of mass destruction – maybe we were asking for the equivalent of missile launch codes.
Our curiosity was piqued when the intrepid Eric Hunsader of market data firm, Nanex, published amazing charts showing a precipitous plunge in the U.S. Dollar just after the equity markets had closed in New York. Hunsader wrote:
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