It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Thank you.
Some features of ATS will be disabled while you continue to use an ad-blocker.
Originally posted by weedwhacker
reply to post by Nineteen
Nineteen.....it implies that Soros, and his ilk, are 'selling short', if they're investing in currencies, around the World....is THAT your point???
Or selling 'long', depending....but, essentially...manipulating all along the way???
If so....clap 'em in irons and throw away the keys, and the hacksaws!!!!
8:17 CT
I do not know what is going on here, and I don't think I want to.
Someone, apparently someone in Asia, wants dollars. A LOT of dollars. There is a forced-liquidation event underway that is massive, it is against all asset classes and it is spreading.
It originated at approximately 7:15 CT this evening and originated out of Asia somewhere. All of the primary currency crosses got hit at once - Euro, Pound, Yen - all weakened dramatically against the dollar and it is still going on. The Asian stock markets got walloped at the same time in coordinated waves of forced selling.
At the same time the US futures markets got nailed as well, down some six handles on the /ES in a near-vertical drop. While this sounds "not that big" to move these markets in a coordinated fashion like this is a trillion-dollar enterprise - this is not some small company that went bankrupt, or even a large company.
There is no news coverage at the present time identifying the source of this but it is not small and contrary to some reports it is not "automatic selling"; this is forced liquidation.
Folks, if this translates into Eastern Europe where there are severe instabilities already brewing literally everything in the financial world could come apart "all at once."
The worse news is that if this happens Bernanke will have killed us (in the US) by extending those swap lines all over the planet during the last six months. These will become utterly uncollectable and they are massive, in the many hundreds of billions of dollars.
To those who are reading this, I hope if you're in the markets you are prepared for extreme levels of violence. You must expect that the authorities will try to arrest the destruction if they are able, but you must also be prepared for the possibility that we have reached a "critical mass" point beyond which "duck and cover" is the only winning strategy.
at this point think of it as a sumo match, but with each country as a wrestler. were all on the outside edge falling. we just want to be the last ones to fall at this point.
Originally posted by infinite
There is a bottom, a solution.
The UN Economic Council proposal, the brainchild of Germany, is now supported by Britain and French - China and Russia support the proposal too.
Under this Council, the IMF and World Bank would come under United Nations control. If you borrow finance from either institution, the World Bank or IMF gain influence over your economy (depending on the amount borrowed.) In other words, the United Nations gains more influence and the ability to weaken sovereignty if it provides financial assistant.
The collapse of capitalism, as stated by H.G Wells in The shape of things to come, will result in a world government lead by a benevolent dictatorship.
World government is inevitable.