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French Bank freezes US funds;Stocks Plunge on Rising Credit Anxiety

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posted on Aug, 16 2007 @ 04:29 PM
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Originally posted by infinite

Originally posted by andy1033
I assume by the way uou talk, your into alot of this market stuff. Just wondered if you thought the market could come back on its own, or would what happened today be the ppt. But you gave your answer that you do not know, and i respect that, was just wondering how you felt on it.


The thing is this.

Why stop a market plunge? It's like holding the flood waters back.

What if the same thing happens tomorrow?


Don't know, but one thing we can assume is that if the comeback did not happen, i think we can all agree that markets usually follow america, and if usa went bad again today, this trend of going down would definately continue. But we will see what happens in the near future.




posted on Aug, 16 2007 @ 04:37 PM
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This correction was necessary, and it is just weeding out the wheat from the chaff. I have seen many of these down turns before, and I can assure you, it is natural. Something spooks the sheeple and they bolt for the nearest exit.

A lot of investors, and many traders, espescially those in Canada have become accustomed to an ever increasing market with limitless cheap cash. This is a dangerous combination because what goes up, will come down. Refer to the Savings and Loan debacle, the Bre-X disaster, and the dot com bomb (to name a few).

This one is no different. The lemmings are running, and the market will be all over the place for months. This "PPT" you speak of may not be a urban myth but they can't stop a tsunami. The fed can help with more cash for the lenders but they can only print so much before the house of cards comes down very hard. This will not be a soft landing people.

The Bull is now resting, don't panic, brathe, payoff debt and enjoy the rollercoaster ride. Only time will work it out.



posted on Aug, 16 2007 @ 04:45 PM
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Perhaps the last minute wipe out of loses was due to Country Wide getting some billions to help them with their loses.

My husband call me and told me that it was some last minute money change for Country wide.

Does anybody has any news on that?



posted on Aug, 16 2007 @ 04:53 PM
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Originally posted by Justin Oldham
I have a quesiton. Last week, the Fed kicked in 38 Billion to stabilize the markets, how much ahe they kicked in this week? I know it was 17 Billion today, but I need figures for the week. Can anyone help?


You can go here for updated Open Market Operations. Just reference the 'total accepted' for a given day.



posted on Aug, 16 2007 @ 05:01 PM
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Marg Maybe this is what you are looking for about countrywide.

[url=http://biz.yahoo.com/ap/070816/countrywide_mortgages.html?.v=11]




Countrywide said it borrowed the cash from a group of 40 banks so it could keep making home loans.





Such "conforming" loans are considered safer because Fannie and Freddie are government-sponsored entities. Countrywide said some 90 percent of the loans it originates from now on will be conforming loans or will meet its internal bank criteria.


Still digesting this myself.



posted on Aug, 16 2007 @ 05:04 PM
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I countrywide Financial, the largest U.S. mortgage lender, Thursday said it is drawing down an entire $11.5 billion credit line as a global credit shortage limits its access to short-term cash.ound the last minute bail out.


cnbcpartner.cnbc.com...

So it seems that Americas bigger lender now in the hands of 40 banks that are holding their debt.



posted on Aug, 16 2007 @ 05:07 PM
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Originally posted by jefwane
Marg Maybe this is what you are looking for about countrywide.

[url=http://biz.yahoo.com/ap/070816/countrywide_mortgages.html?.v=11]


Thanks!!!!!!! I found some news also.

It seems that the infusion of billions help the last minute markets.

But I am worry, will they be able to hold on ?

After all this nothing more than another illusion to help the markets look like is coming a..



posted on Aug, 16 2007 @ 05:34 PM
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Well, how is ATS set on gold futures? I suspect they will be going through the roof although look out for swindlers in the market. They have been selling gold they cannot possibly produce waiting for this collapse to happen. I am more into the silver end of it and that's just to cover the basics when it hits. Do you suppose the Government will have a recall on all physical again? And if so do you turn it over...



posted on Aug, 16 2007 @ 05:40 PM
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Originally posted by antar
Do you suppose the Government will have a recall on all physical again? And if so do you turn it over...


I was talking with my husband about that also, but in this time and age is not too many regular Americans owing gold or silver unless is in their jewelry


So the ones that do have it will have it very far and away from the US.



posted on Aug, 16 2007 @ 05:44 PM
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So far as I understand it, the Fed can only recall gold as minted by the U.S. treasury. Actual specie as per legal definition. the coins that many ATS members have tucked away would be non-U.S. mint items like the maple leaf or kreuge rand. I would agree that stocking up on some silver NOW while it's cheap would be a good idea, just to cover the basics if things get that far. I have been partial to the quarter ounce kreuge rands, too.



posted on Aug, 16 2007 @ 06:59 PM
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I've been buying silver bullion for a little while now along with liberty and peace dollars which are 90% silver. The bullion is only gonna trade at the silver price. I forget the exact dates on these older silver dollars that are like 90% silver(don't feel like opening the safe right now), but I like these as well because lots of coin collectors like them and if silver takes a hit, and everything doesn't go to hell, you can usually sell them for around $11-$13 to a collector or hell even at a flea market.

Gold and Silver both took hits this week. I feel that this is because of funds selling anything they have to cover the margin calls and redemptions. If the worst is coming to pass economically (I'm on the fence, will wait and see) there may be a short time to get into gold and silver at decent prices.

The derivitive issue about gold has been discussed heavily on the web. I think an organization called GATA has discussed it heavily. Unlike mortgages and property values however if the gold derivative market implodes those holding physical gold will see it skyrocket.

As always I could be wrong.



posted on Aug, 16 2007 @ 07:49 PM
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Originally posted by antar

Well, how is ATS set on gold futures? I suspect they will be going through the roof although look out for swindlers in the market.


Interesting that you should mention Gold antar. Aside from the traders that rushed for the exits with their accounts on fire...never to get back in...Gold, Silver & the mining shares were the premier losers today. I was watching Kudlow awhile ago beaming over the miraculous reversal today...how the resilient market survived a 10% correction...Onward & Upward! was the message. He had a panel of four pundits, I only had time to listen to two of them...neither agreed with his assessment. They weren't buying it, nor do I. By the way, they seldom mention Gold on CNBC, and only with distain...naturally they hate what Gold represents. Today was an exception however...every 30min...Gold down!, Gold really getting hammered! etc etc. Transparent.

When precious metals take a beating, it starts getting personal. The hedge funds were forced to sell alot of quality today, and as a result many good mining stocks were left in shambles. We have watched an inflated DOW sweep to record high, after record high recently on irrational exuberance, greed, and extremely weak fundamentals, which is why there was very little support on it's way down today. By contrast, fundamentals in the precious metals sector couldn't be stronger. To paraphrase a friend while discussing the black hand of the PPT today; after spending hundreds of millions of dollars to stabilize the broad markets this afternoon, what's a few million more dollars to underwrite dumping the metals across the board, and destabilize commodity futures. The 'man' bailed-out the 'man' today, and Wall St. was ecstatic. Meanwhile, the PM mining sector was left in shambles...and the 'man' never looked back.

Am I concerned for the future of the precious metals sector? Absolutely not. The seeds for Golds resurrection, and success were sown with reckless abandon again today. It's the blatant manipulation of the financial, and commodities markets that disturbs me most. More precisely it's the level of corruption that this interference represents. Does it matter whether it's stuffing the ballot box, rigging the market, or filtering the 6:00 o'clock news? When honest money comes under attack, we should all be concerned imo.



posted on Aug, 16 2007 @ 10:32 PM
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WEll the American market may have been saved this morning, but as of 11:30 EDT

The Asian markets are down 2.5 - 3% ....




Another bad day a. for US markets?



posted on Aug, 17 2007 @ 01:41 AM
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The Asian markets have closed.. 2-3% would have been nice..

More Market Jitters As Asian Stocks Tumble

But overnight, Japan's Nikkei (news) posted its biggest percentage loss in nearly six years, closing down 874.81 points, or 5.42%, at 15,273.68, its lowest since August 7 2006.



posted on Aug, 17 2007 @ 06:09 AM
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Europe is hanging and waiting for the US I think...

but the US futures don't look good


[edit]

GOOD LORD!

Japan is only afew off touching 14,000




[edit on 17-8-2007 by infinite]



posted on Aug, 17 2007 @ 06:18 AM
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Originally posted by infinite
Europe is hanging and waiting for the US I think...

but the US futures don't look good


[edit]

GOOD LORD!

Japan is only afew off touching 14,000




[edit on 17-8-2007 by infinite]


It seems nobody believed yesterdays comeback in the dow, its going to be interesting, how dow does now.



posted on Aug, 17 2007 @ 06:29 AM
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Originally posted by andy1033
It seems nobody believed yesterdays comeback in the dow, its going to be interesting, how dow does now.


I'd be surprised if we don't see the Dow down by 200 points at the end.

There has been no positive news to make the market rally towards a positive point.



posted on Aug, 17 2007 @ 07:22 AM
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Any news about the fed? perhaps another transfusion was done overnight to keep the markets looking better.



posted on Aug, 17 2007 @ 07:27 AM
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Feds save the day...(hopefully)



discount window open and cut down by 50%.

it will remain open until the markets calm down.



posted on Aug, 17 2007 @ 07:33 AM
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Originally posted by infinite

Feds save the day...(hopefully)



discount window open and cut down by 50%.

it will remain open until the markets calm down.


That shows me that the ppt probably did save the market yesterday. I think they were lucky yesterday.

The ftse, has jumped up 150 points, since that announcement.




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