It happened like I said it would

Euro Rises Most in a Year on Bank Plan

By Catarina Saraiva and Lukanyo Mnyanda - Oct 10, 2011

The euro rose the most in more than a year against the dollar after French and German leaders pledged to deliver a plan to support banks and repeated a commitment to keep Greece in the single-currency bloc.
The dollar dropped against all of its major counterparts as global stocks advanced, sapping demand for the greenback as a haven. German Chancellor Angela Merkel and French PresidentNicolas Sarkozy said in Berlin yesterday they have given themselves three weeks to devise a plan to recapitalize banks and find a “durable” solution for Greece’s debt load. Currencies of commodity-exporting countries rallied as raw materials gained...
Hedge funds and other large speculators increased their net short euro positions to 82,697 contracts in the week ended Oct. 4, the most since June 2010. A short is a bet the price of an asset will fall...
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Comment: There's also a massive short squeeze in the making. Too many want-to-be speculators are nothing more than sheep in a herd who confound the clap trap of the clattering class for reality. They play as long with other people's money until it's really all gone. In this respect they get they full support from our modern politicians who let themselves scare to death from the same media circus and spend the tax payers money until it is all gone. I was sure that Greece and the euro would be "saved" because I know how stupid many financial market operators  really are and even more so that they are just close behind in this respect to the political class with whom they also share the hunger for fortune and power. It is a system that is rigged from the ground up. It is a system that has been tuned ever more towards exploitation. It is a system that has moved far away from true capitalism.