The markets are crashing! The markets are crashing!!!

Current precious metals prices:
Gold: $1729.00 ---------V $53.00
Silver: $36.82 --------- V $2.91
Platinum: $1706.00-----V $57.00
Palladium: $661.00------V $31.00

UH OOOHH better keep an eye on this one

reply to post by Wrabbit2000


It typically drops when the market dives, but it comes back with a vengeance, stick with it man... Why do you think people steal copper? Cause paper ain't gonna be worth squat soon!!!

Bet the Charles Schwab lines are ringing off the hook right now....sell...sell...sell.....

In term of points, the drop of 777.68 points on Monday September 29, 2008 is the largest In term of points, the drop of 777.68 points on Monday September 29, 2008 is the largest drop in the Dow Jones Industrial Average. The DJIA closed at 10,365.45. This was a drop of 6.98 percent. The previous record point drop was the 684.81 loss on Sept. 17, 2001 - the first day of trading after the September 11 terrorist attacks. The drop of 6.98 percent only ranks as the 17th largest percentage drop. The record in percentage terms was the 508 point drop from 2247 to 1739 on October 19, 1987 - aka Black Monday - which was equal to 22.6 percent.

reply to post by MamaJ


Ok...so I guilted (is that a word) myself into not being lazy lol

Here is what I found.... tell me if this is correct.

In term of points, the drop of 777.68 points on Monday September 29, 2008 is the largest In term of points, the drop of 777.68 points on Monday September 29, 2008 is the largest drop in the Dow Jones Industrial Average. The DJIA closed at 10,365.45. This was a drop of 6.98 percent. The previous record point drop was the 684.81 loss on Sept. 17, 2001 - the first day of trading after the September 11 terrorist attacks. The drop of 6.98 percent only ranks as the 17th largest percentage drop. The record in percentage terms was the 508 point drop from 2247 to 1739 on October 19, 1987 - aka Black Monday - which was equal to 22.6 percent.

askville.amazon.com...

These markets are so politically driven. Investors base their decisions these days on bogus anticipation, spoonfed to them by world banks and "Ideas" some world leaders might have to turn the economy around.

The problem there is that the "ideas" are getting more and more ridiculous. I can see the headline now...

Stocks Rally as investors cheer on Greeces announcement to charge its citizens to use the restroom. Greece officials anticipate this reducing their debt a #load!

reply to post by forall2see


Yeah, that, and they also purposefully tank the markets to get what they want . . . like more stimulus. Then when they get what they want the markets miraculously rebound . . . simply amazing. We will see if the spoiled children get what they want this time.

The markets are crashing because Ben DID NOT DO QE3.

What he announced is NOT QE3.

He just transferred paper around, selling short term treasuries to buy long term treasuries...

This will KILL the banks. Most banks make most of their profits borrowing money from the short term bonds and lending it at long terms interest, making a profit.

What the fed is doing will make that the short term interest and the long term interest are the same... meaning most banks will not do a damn cent.

Banks are gonna go kaput.

And that is just BANKS...

PENSION FUNDS... which have a boatload of treasury notes, will get screwed too.

Bernanke just killed the whole scam... but prolonged it for a while longer...


And Now, With The Market Collapse Into The Close

This latest distortion by The Fed has just destroyed the last bit of earnings power the banks had. It's gone. All to preserve the ponzi scheme in the Federal Government - the same Federal Government that just sent a bleat to Bernanke about tampering with the economy.

What did Bernanke's act tell us?

He burned the furniture for warmth today. He and the rest of the Fed cabal are done; this was the card that was known to do much more damage than it could ever help anyone - or anything. He burned the furniture to allow the Federal Government Ponzi to continue for one more year while utterly screwing the private lending industry of all sorts from banks on down.

There is no shortage of lendable money. There hasn't been since this entire mess began. The problem was that money was too easy, not too tight, and people ran into the wall on their ability to pay.

You cannot drink yourself sober.

The game is over folks. Europe is now the lynchpin between here and the SPX at 500, and that's a short-term stop between here and an entirely-possible outcome of where it began in 1980.

That's S&P 100, not 500, and Dow 800.

Anyway read the whole thing.

Bernanke doomed the entire system just to fund the US government deficits.

I wonder if the is that hope and change thing Obama was raving about... Like,"I HOPE things don't CHANGE for the worse",or "I HOPE some rich guy gives me their CHANGE!"

There are Theory´s why Gold (and to a certain extend other PM´s) are dropping this fast. One is that Investors are fleeing Banks ,forcing those to sell their Gold to raise Capital (which works in the short Term).

There are others,but this seems the most plausible. If i had the Money,i would buy Gold and Silver now,because i´m pretty sure that as soon as Banks are out of Capital (and out of Gold),they will crash and Gold will rise stronger and faster then before...

You have to take into Account that the latest Move by the Fed could very well have been only the first Step to force another round of QE. Before Markets crash completely,the FED may as well switch on the Printing Presses,this time in Hyperspeed. But i somehow doubt they are intelligent enough to create such a Scenario...who knows

Edit: And as Vitch said above. Other than selling Gold,Banks don´t have any Options left in how to raise Capital,because Bernanke killed that with the Twist yesterday...

Don´t take this Post as any sort of Trading Advice.

All things come to an end.

It took 10 years extra and 5 more foreign wars than anticipated but hopefully this is the end to the worst century (+10yrs) that I percieve.

Hopefully the next 100 years will be built for the people by the people and not by the people for the rich.

Hopefully the traders/bankers will be swan diving off their swanky HQ's tonight.

Ps will the last person to jump please turn the lights off and set the demo charges because us average joes never want to see this level of corruption ever again.

As far as silver goes, it is not a bad thing if the prices drop, even for a little while.

JP Morgan has 6 days or so before they get kicked in the pants by silver.
The spot price needs to stay under 36 dollars for JP not to implode.

This is only an opportunity for people to get their silver for less money. Gold too, it seems.

If you are getting silver to buy food and other items for trade when this money system is totally defunct, you are not going to be selling it for paper. It is a form of protection and less a form of wealth investment.

Get a grip, folks.

It's only a casino after all, and gamblers are just walking away finally. It will have to collapse as that casino is unstainable. Today and the next few days will see its demise.

The money is not in the stock exchanges. It's in the banks, in safe havens, at home or in even in your pocket now.

Ships will still sail, factories will still hum, trade will still continue, and you will still have to eat, one way or another.

From this debacle, may a better system for banking and investments of corporations arise. We are only flawed mortals. We had made mistakes. But we have the capacity to correct mistakes inorder to progress and evolve. The time for correction of our errors in the financial system is now.

reply to post by Vitchilo


thanks much for the clarification.

reply to post by SeekerofTruth101


You buy Food with Paper-Money. This Paper-Money is coming from your Bank. The Bank is getting this Money from a Central Bank (by printing more, it would cause higher Inflation) or from the Market,by buying short term Treasurys,which yield interest,which it can lend to Citizien and Bussiness,making more Money from those Interests.

This last Option was pretty much killed by the FED yesterday,since it wanted to bring those Interests down...

You see,Banks make no Money = No Money for the Citizien to buy Food

I'm surprised that no one has mentioned this yet.
Then again, it is just a rumor.

The rumor is that Bernanke and Trichet have settled on
a negative interest rate for the central bank of Europe and the Fed.

That's right.

The rumor is that when a satellite bank borrows money from the central bank
They will have to pay back less than they borrowed monthly.

If this is true, then it is natural for the markets to reposition themselves.


David Grouchy


... where is that video ...

ah found it.

reply to post by JJDoggie84


While I agree that the "Fed" is at fault to what is happening in the markets, the actual burden falls on our open wallet spenders in our government.

What Bernanke did yesterday was to give back the responsibility to the government to find ways to balance the budget and become fiscally responsible, without relying on printing more useless toilet paper to keep bailing out the falling economy at the expenses of the tax payer.

Americas economy is falling and the only ones to blame are the greedy policies of our policy makers been influence by those that have the most to gain from trade unfair practices and they don't care who they screw in their way to profits

Originally posted by Shenon

You buy Food with Paper-Money. This Paper-Money is coming from your Bank. The Bank is getting this Money from a Central Bank (by printing more, it would cause higher Inflation) or from the Market,by buying short term Treasurys,which yield interest,which it can lend to Citizien and Bussiness,making more Money from those Interests.

This last Option was pretty much killed by the FED yesterday,since it wanted to bring those Interests down...

You see,Banks make no Money = No Money for the Citizien to buy Food

There is NO such thing as no money, dear sir.

The money is only all hoarded up. The bank stocks may had fallen, but the real money is there inside banks. Do remember they do have a limit that they can use on the stock exchanges for 'investment'.

European banks are the ones most likely to tank badly and may even suffer runs, but not the rest of the world's banks in asia, ME, some US banks, australia, etc.

Economic life still goes on. Ben thankfully did not print more money, thus, the trust in US dollar is still there. And when the job creation bill gets passed by congress as it will, more money will be circulated and economies revive, not only in US, but the world.

You might wonder where does thses money come from. It came from QE1 and QE2, along with current reserves in US dollars held by nations and rich individuals that had been hoarded up either in safe international havens, US gov guaranteed bank vaults, homes, etc.

reply to post by davidgrouchy


theres no evidence

reply to post by davidgrouchy


So basically more free money, but this time to the consumer and not the business.

Absolute s#.

Not saying your wrong, im saying the idea is a pile of #. Its just the same as whats happeing now except if i buy a house for;

£200,000

The bank mortages the developer £200,000
I pay the bank back £160,000

So the developer make an extra £40,000 to spend on more buildings and get rich again......

Its another boom and bust scenario where the wealthy are trying to spread their wealth around and keep control of the system. Let it tank already , we are F.E.D-up of your corruption.

Update:
Dow Jones -400+ pts ouch