Hey all,
I've only been on the Google Finance forums since about March or so (don't even remember how long it's been). Reinhardt was a pretty weird guy on
those forums, posting some stuff that I had no clue what it was about. I don't think he is any kind of hoax, and like Anonymouscat said, he's not
asking us to believe him, just telling us where to find the information we look for. That's pretty classy in my opinion.
Anywho, shermanium posted what I posted last week in the GF forums, and I'm still wondering what's going to happen. I'm closely watching the news
about what is being done with this bailout bill (which seriously scares the hell out of me) and what the news is with WaMu, since as Reinhardt said,
the local companies are affected in a negative way after a Legatus meeting in the area. This could mean many things, but if it is indeed accurate, and
shortly after this Legatus meeting something bad comes out about a local company, I think it pretty much confirms at least the hypothesis that this
group could have something to do with the happenings.
Now, the following has nothing to do with Reinhardt, but rather things we should all be looking at in the coming days to determine how accurate this
prediction, sorry, suggestion of Reinhardt's really is.
1) Bailout bill. Paulson, Bernanke and gang want to get this thing passed quickly and without much debate or changes to it. That's scary. If you
haven't read the bill, read it from
HERE and read Mr.
Denninger's reply to it. It's very detailed and accurate. If it passes, the dollar tanks. If it doesn't pass the first time around, the markets
will tank and then it'll be pushed through Congress out of of fear, and then the dollar tanks. Got gold? If not, get some.
2) Any and all news related to WaMu, UBS, and Wachovia. If any of these bohemoths go down, it's going to cause a panic and possibly cause more bank
runs. This is bad (obviously). The timing of an event like this is very possible by next weekend, which is the timeframe we're looking at.
3) The dollar, oil, precious metals. You probably saw that the dollar tanked today, and October oil contracts closed at $120.92. As investors and
traders fear what is happening, they might start to flock to treasuries or commodities as a safe haven. Treasuries are fine, since you have to
purchase those in dollars, but commodities and foreign currencies are making a comeback as a safe haven. If we see gold break $1,000 again, you'll
know something big is right around the corner. (That's just pure speculation on my part.) As oil goes up, people get freaked out and the market tanks
some more. Also, if treasury yeilds start to go sky-high, look out below.
and...
4) Any and all news related to the US Soverign Credit rating. It's currently AAA, if there's even a hint that it might be downgraded (S&P mentioned
something about this last week) then foreigners will stop buying our debt, and we're all hosed.
Ghostlandseller: "Theres no light at the end of the tunnel and no one is really sure when there will be light at the end of the tunnel. Just think of
all these bail outs as stick of dynamite to remove rubble in the tunnel, hoping that there will be light on the end. Problem is were running out of
dynamite and were still not seeing any light. "
This is a very good analogy. And you're right, they might close the markets. But as someone else said earlier today, you can take away the train
stations, but that's not going to stop a runaway train.
Stay glued to your keyboards folks, and don't bite your nails too much. Also, my mother taught me well as a kid, to pray for the best, but prepare
for the worst. It doesn't hurt to be at least prepared for what may come in the coming weeks. Oh, and I'd say October 6th... Weekends are when the
devils come out and play.
[edit on 22-9-2008 by Troy-Moe-D]