The IMF and the ECB are appearantly in some sort of a political struggle to determine who is the future banker (and lord) of struggling nations. So, the head of the IMF Straus-Kahn found himself without “impunity” and was arrested.  The youth of Spain have decided that they will be the next pawns in the hands of the neo-comm’s and have gathered in the Puerta del Sol central square in Madrid.  Norway decided to take a shot across Germany-directed ECB’s bow and withdrew their aid for Greece stating that they would not resume aid until Greece started doing what they agreed to do:  increase the jobless rate (reduce government payrolls and more).  Fitch jumped on the bandwagon and downgraded Greece a whopping three notches.  The EURUSD pair took a nice tumble closing the week below the important 1.4200 level.  With all of this in the background of the upcoming week, these are the stories that I am reading this weekend to get a fundamental feel for the upcoming week.

Here is our good friend’s last view of GBPUSD and EURSUD

Don’t forget to attend or view the recording of 50pips’ webinar -  it’s the best free thing out there

Next Danger: “Splash Crash”

The Charts Weigh in on Gold, Silver

Investing as if There’s No Tomorrow

Collateral Damage: the True Cost of a U.S. Default

Germany voices support for Lagarde’s IMF bid

Questions and answers about Europe’s debt crisis

Summary for Week Ending May 20th

Euro area balance of payments in March 2011

Greece worries markets on reform plan

Soros sharpens gold bubble debate

Sterling and euro interest rate paths diverge

Chinese set new standard in buying gold

US states tap reserves to pay ‘tobacco bonds’

IEA urges Opec to increase oil production

Turning a corner, facing a crossroads

ECB’s political tensions flare over Greece

Watch out for tail risks hanging over Treasuries

Investors fret over growth and sovereign debt

The ‘trilemma’ of capital controls

 Buy Sweden, sell Switzerland

World Bank sees end to dollar’s hegemony

Drawing power of the dollar ß may require free subscription

Federal Reserve’s 5 Step Exit Strategy

Cut the Slack

Weekly Fundamental Forex Preview – European Debt Crisis Comes to Head

Tens of Thousands in Spain Defy Protest Ban ßIf these libs are pushing the story, you know who’s behind it – neo-comms.

CURRENCY TRADER PONDER FUTURE AS RISK-ON/OIL CORRELATION FADES

11 REASONS THE ECONOMIC SLOWDOWN IS ALREADY HERE

 Oh, almost forgot, this could very well be the last post of mine you read.  For those of you that have had your head so deep into the charts that you didn’t notice, the end of the world begins today at 6PM Pacific Standard Time.  If it does we’ll see you on the other side.  Well, I guess that depends on whether you go to heaven or hell.  I’ll let you figure out where we may see each other.  Otherwise I’ll see you in the LONY session.