If you haven't figured out the weekly cycle between America failing, then off to Europe failing, it should be quite obvious now how the ECB and Federal Reserve are fighting amongst themselves. One of the later Bears videos warned about the currency wars and how they have commenced. We are now in full swing with these and they will intensify as both parties realize they are insolvent and the ONLY way out is to print.
Dax down 5%
Italian market ransacked
Cycle complete, all eyes off the demise of the $US now back on Europe this week, rinse and repeat for next weeks cycle into USA again, $Euro bounce, $US goes to lows again, rinse, repeat....