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US Economy diving, All major bank stock prices dropping like a ROCK

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posted on Jul, 14 2008 @ 05:58 PM
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Originally posted by sickofwar
The USA is broke and 20-50 trillion in debt, every thing is being auctioned off whole sale to foreign investor so tell me where the silver lining is in this. I am not a fearmonger I am a realist and things dont look all hunky dory and candy coated.



"I am not a fearmonger" yet you throw out a range of numbers like 20 - 50 trillion.... I think with a bit of research you could come up with an estimate slighty more accurate than "ohhh give or take 15 TRILLION"




posted on Jul, 14 2008 @ 06:03 PM
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I'd like to star whoever made the original comment, but I could not find the post tonight... Someone said something to the effect of "I would short the entire sector Monday". The banking sector closed out 8% down, with not a single stock out of 29 gaining for the day. If all your investments could average 8% a dayI would urge you to retire.

Wamu closed out the day down 33 points! While I am not trying to instill fear with this post you have to give credit where it is due. Shorting any stock in the banking sector today was a good call. Freddie Mac, Fannie Mae and one other stock were the only ones in the green all day, but they all closed out down....



posted on Jul, 14 2008 @ 06:09 PM
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Originally posted by Echtelion empoverished who'll just be ready to die for having their share of the pie?


Are these the people who will be scouring the countryside desperate to get their hands on working ipods and cell phones after the EMP explosion?



posted on Jul, 14 2008 @ 06:15 PM
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Originally posted by ghostlandseller
HAHA Ft Knox has always been empty. Eve nif there was anything in it its not even a flake compared to the amount of money in circulation.

You want to see a very impressive gold backed economy!

Switzerland!

They have gold backed money. but their government only values their gold to be worth about $45 an ounce. So basically with todays market values their currency is backed by WAY more than its actual value! Really impressive!

i guess they don't waste all their money on a military so they jsut reinvest it in themselves. Sure seems to work!

It would be nice if we could do that but we have already pissed off most of the world. haha


Like it or not....Deny it or not....Gold that belonged to Fort Knox got hijacked by the Federal Reserve, via Switzerland and finally into Israel



posted on Jul, 14 2008 @ 06:19 PM
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Oh ok so say 10 trillion and what about the money pilfered from social security that you know the fed will not pay back. I will stick by the numbers I have found but what ever helps you sleep at night.



posted on Jul, 14 2008 @ 06:34 PM
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charlieslies88, thanks for the response. So what caused such a massive amount of sell off? Was it mainly caused by the mortgage situation then?That I could understand, but it just seems like a tremendous amount of stock sell off even for the mortgage crisis we are having.You will have to forgive me as I am really a novice at this issue.

Dubyakadubla, No offense dude but as soon as you started the whole Jew thing I could not even bring myself to read your whole post.It came off as a little too Rense.com(ish) to me...and he is a known Jewish hater.

[edit on 7/14/2008 by CaptGizmo]

[edit on 7/14/2008 by CaptGizmo]



posted on Jul, 14 2008 @ 06:36 PM
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Originally posted by Charlieslies88
I'd like to star whoever made the original comment, but I could not find the post tonight... Someone said something to the effect of "I would short the entire sector Monday". The banking sector closed out 8% down, with not a single stock out of 29 gaining for the day. If all your investments could average 8% a dayI would urge you to retire.

Wamu closed out the day down 33 points! While I am not trying to instill fear with this post you have to give credit where it is due. Shorting any stock in the banking sector today was a good call. Freddie Mac, Fannie Mae and one other stock were the only ones in the green all day, but they all closed out down....


HAHA thanks, that was my post your referring to.

I am young but i have been investing in the stock market and completely obsessed with economics since i as about 12. Ive won some prestigious national stock trading competitions and I am in school right now at U.Tex for economics & Finance. Not sure if im going to go to wall street. I prefer the entrepreneur path more. i can always invest on my own. But yeah i shorted the hell out of Wa Mu today when it was tanking around 2PM US central time. Had way too much downward momentum. after it leveled out i covered before the close. don't want to be holding a stock this volatile over night. Never know what news might come out.

But yeah i have a lot of potential investors once i graduate. Might open up my own firm. haha


But yeah today WAS ROUGH! Washington mutual was getting trash talked all over. the media is trying to cover the crash of Indy mac and fannie by saying RUMORS caused the investors to run and to case the bank run. HAHA Hilarious! They actually were talking about prosecuting people who spread rumors now trying to manipulate the stock market. I'm sorry but rumors are what drives the stock market in the first place! without them people wouldn't have a reason to invest!

I rumor GOOGLE will hit $200, $300, $500....
I RUMOR Anheuser Bush is going to get bought out by a European company!

All those must have been illegal rumors! , but they happened!

[edit on 14-7-2008 by ghostlandseller]



posted on Jul, 14 2008 @ 10:45 PM
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Originally posted by CaptGizmo
So what caused such a massive amount of sell off?


Is it conceivable that the secret House meeting where Martial Law was discussed had something to do with it...?

I'm betting that direction.



posted on Jul, 15 2008 @ 12:59 AM
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Originally posted by Amaterasu

Originally posted by CaptGizmo
So what caused such a massive amount of sell off?


Is it conceivable that the secret House meeting where Martial Law was discussed had something to do with it...?

I'm betting that direction.



haha, i personally don't think so. But your guess is as good as mine at this point. So sure!



posted on Jul, 15 2008 @ 01:24 AM
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reply to post by ghostlandseller
 


Take a look at EIR and get the lowdown on the implosion it`s been coming for some time. Think of the DOW at 30% of it`s all time hi, history repeats floods and financial strife = 19-29 CRASH 2008-09 same = 80 year cycle.



posted on Jul, 15 2008 @ 01:33 AM
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The New York times Monday 14 July 2008

“Everybody is drawing up lists, trying to figure out who the next bank is, No. 1, and No. 2, how many of them are there,” said Richard X. Bove, the banking analyst with Ladenburg Thalmann, who released a list of troubled banks over the weekend. “And No. 3, from the standpoint of Washington, how badly is it going to affect the economy?”



posted on Jul, 15 2008 @ 01:46 AM
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A problem is going to be what is going on right now but to more extremes.

When the first major bank Bear sterns collapsed people were shocked. It was a hard hit and a realization of exactly how bad this credit crisis was, but when the second one indieMac collapsed people realized it wasn't just a fluke.

Now people are worried it will happen again, so people want out of the banks. because the recent incident with Freddie and frannie kinda came out of nowhere in the last few weeks. So people are expecting another bank to collapse again and to drag down the entire sector. so people are shying away. Once another bank goes down, people will be even more skeptical of the banking sector. and it will just become an avalanche.

when the stock prices hit rock bottom these banks are going to be so starved for capital that the will be selling anything they can to anyone who will buy for pennies hoping to sell enough to stay alive long enough to see daylight. Then they will eventually starve themselves out and ultimately collapse.



posted on Jul, 15 2008 @ 02:53 AM
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commodities rule the day- start your victory gardens and buy all the guns,generators,food,gold and silver you can lay your hands on.we are in for a very bumpy ride,soon.



posted on Jul, 15 2008 @ 04:39 AM
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Originally posted by Charlieslies88

Originally posted by sickofwar
The USA is broke and 20-50 trillion in debt, every thing is being auctioned off whole sale to foreign investor so tell me where the silver lining is in this. I am not a fearmonger I am a realist and things dont look all hunky dory and candy coated.



"I am not a fearmonger" yet you throw out a range of numbers like 20 - 50 trillion.... I think with a bit of research you could come up with an estimate slighty more accurate than "ohhh give or take 15 TRILLION"


Here you go then bud -

www.tristateobserver.com...

There is thirty trillion right there - the reality is that unsecured debt is around 42 trillion - this is said to be more than the entire value of the all the worlds stock-markets - (40 trillion I believe the exact number was).

This situation has been well known for several years and is nothing new - what does it mean though ?

Well it is un-repayable - no way - the Entire American economy / society/ infrastructure would have to be completely overhauled to deal with this in the most dedicated, direct, systematic, manner with an unwavering dedication to what ever needed to be done for the public good and future survival of the USA - what a joke - never going to happen.

The reality is so dark it is barely thinkable. The reality is that Americans have a complete inability to see themselves for what they are and instead believe in their own eternal hype - exactly what is needed (a trip to the room of mirrors) is exactly what Americans are so resistant to.

The tensions with Iran right now are as much to do with Irans encouragement of a movement away from the dollar - as any other geopolitical, oil based theory. The rest of Asia and middle east coutnries are very hesitant to divest themselves of their massive soveriegn reserves os US debt - hwoever the reality is that there is no possibility of a a recovery in the dollar - hence the self off will begin soon and when it does - America will simply collapse.

There is no argument around this - its economic fact - the only option left to the government of the US is to declare itself bankrupt and hand itself over to the corporations for a corporate run society ( this is what fascism is) - and this is pretty much where America is right now in all but name -

Its sad, and a deeply worrying proposition for the rest of the world - America has already left the arena of international cooperation - and this would simply acknowledge what has already happened under the neoconservative agenda.


I wish us all luck.



posted on Jul, 15 2008 @ 05:09 AM
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another indication....if this was a planned economic fall, they have lost control!
notice how now, they are all blaming insane things for this...like the rumors? well, if things weren't so horribly dark in the economic sectors, these rumors would have no steam to run. I think they've basically run out of ideas, so now is the time to start pointing fingers and playing the blame game.
dow's below 11,000 this morning by the way, throwing a ton of cash at freddie and fannie didn't seem to do the trick either. they are just digging themselves (and us) in deeper by trying to avoid the inevitable. the number of people who will soon be losing their homes is probably far greater now than it was before they started throwing all this money around. now, the people are being hit with higher prices across the board and it's taking a big bite out of the budget....so more are struggling to pay the mortgage, and probably have less incentive to stay in that home that is 20 or 30 miles from their workplace.
maybe they should just let the crap hit the fan full force instead of dragging us all down with it?



posted on Jul, 15 2008 @ 06:11 AM
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yup, see this is relly not good because if the banking stocks continue to plunge even after the feds came in and said they would back up for frannie and freddie and it still goes down with out even a glitch that anything happened just shows how little affect they really have in this entire bank sector crash.

So now that people have seen that the feds cant stop this train a-movin, then that gives A LOT less confidence that the banks are going to be coming out of this anytime soon.

well see how tomorrow turns out! Over seas markets are looking pretty unfriendly. All the foreign markets are freaked out about our banking/finnce situation.

i wouldn't be surprised if the banks get hit hard again tomorrow. We will see.



posted on Jul, 15 2008 @ 08:53 AM
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reply to post by ghostlandseller
 


This was all predicted by John titor, whose archives can be found

here within abovetopsecret, in 2001.

I have been preparing for 7 years and that is not enough, nothing is.

Just hope for good luck.

Fidelity bank manager friends of my older work colleague told him

to divest of all mutual funds, and retrieve all money out of banks

by mid-summer.

Well , here we are.

Don't think you can get all your $ out of the bank either, just withdraw

max amount from the atm every day.

Only hold/carry as much gold and silver as you can easily manage without

getting killed for it.

My wife laughed at me then nearly tore my head off for telling her and

her family to pull $ cash out 2 months ago. 'Don't panic' Well, i don't want

the last laugh.

The interesting scenario this raises in the end is this:

If banks are insolvent, and no one can get $ out, how can they/the fed

ask us to pay bills, particularly mortgages?

Do we all get herded into halliburton work camps set up for 'illegal aliens'?

The debtor prisons? Gee, that would be about 100 million people and

they only hold 2million. Dick Cheny you should have built more prisons

for your people!!!



posted on Jul, 15 2008 @ 08:59 AM
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reply to post by Mainer
 


according to john titor, the russian first strike in 2015 (at 3:15 am)

will be primarily 3 mirvs per city in groundbursts, not airbursts, to

avoid emp effects.

They will want the countryside to continue to communicate in order

to rid the remaining federal resistance....



posted on Jul, 15 2008 @ 09:03 AM
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reply to post by drphilxr
 


I agree. But they don't need bigger prisons.

100 million Americans are already in "debtor prisons". It's called making minimum wage, not being able to afford to travel and stuck in a cubicle or some crap job all day just to make ends meet.

I know...I am typing from one right now. Home to watch dancing with he stars while I cry in my scotch!



posted on Jul, 15 2008 @ 12:14 PM
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reply to post by TruthWithin
 


You think 100 million Americans make minimum wage? Have you even done your research? The number is more like 2 million. You were off by just a bit, give or take 98 million. A grand total of 2 out of 300+ million make minimum wage, and large portions of those are teenagers in temporary/part time job where they admit in surveys they just want the job for spending money.

Source: www.usatoday.com...

On to the topic of the thread: Since everyone wants to be hysterical about the economy, the failure of IndyMac had nothing to do with the bank and everything to do with a (gasp) democrat Senator:


"The immediate cause of the closing," the OTS wrote in a press release, "was a deposit run that began and continued after the public release of a June 26 letter to the OTS and the FDIC from Senator Charles Schumer of New York." The OTS added: "In the following 11 business days, depositors withdrew more than $1.3 billion from their accounts."

online.wsj.com...

The only thing that is causing hysteria in the economy are the people themselves who prefer to buy into the doom and gloom than do their research. Thousands of them lined up outside of IndyMac branches so they could panic in front of the media cameras when all they needed to do was withdraw their money online (online banking is a wonderful thing).

[edit on 15-7-2008 by ALightinDarkness]



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