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HUGE Economic DOT - Forex Trading Company Suspends Trading this weekend......

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posted on Jun, 14 2012 @ 10:21 PM
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Due To The Extreme Volatility Some Market Analysts Foresee...


Due to the extreme volatility some market analysts foresee could result in the coming days, OANDA fxTrade will not accept any trading activity from 6:00 AM EST until approximately 3:00 PM EST, on Sunday, June 17, 2012. OANDA believes the convergence of a major market event during off-market hours represents a potential trading risk and has taken this rare step to protect traders from excessive rate fluctuations.



Please note that during this halt in trading, you can still access your account details but no trading activity will be accepted. For this reason, OANDA strongly recommends that all traders consider minimizing currency exposures prior to the trading halt.



If you do intend to maintain open positions during this period, be aware that OANDA will hold exchange rates steady during the trading halt. However, when trading resumes, rates will immediately adjust to the current market rate and it is possible that the updated rate could result in a margin closeout if the price has moved significantly against your positions.



Therefore, it is your responsibility to ensure you have adequate funds in your account to prevent a margin closeout.



OANDA apologizes for any inconvenience this may cause.



For more information, please contact a Customer Service representative.



Best regards,



The OANDA team






Now that my friends is a huge DOT, in my opinion.

What could they be worried about? Here are some of my opinion in the matter:

1. The Greek elections.....who will win, will they stay in the Euro. Will the country erupt in violence and civil war? I see many are asking for the G20 nations to start paying, many of them are saying NO. Also, if Greece goes bankrupt, you can be sure the derivative time bomb will erupt.

2. Spain and Italy. Both economies are rapidly eroding. Interest rates on their debt are extremely high, the bailout to Spain is a pure band-aid (100 billion won't even last a month imo)....the news isn't really reporting the silent bank runs happening. If that goes out of control, game over.

3. Cyprus has potential for trouble. Greece is in desperate need of cash, those oil and natural gas reserves must look very tempting. Why is it a problem? Turkey isn't about to hand them over.

4. Egypt - everyone hailed Egypt when they threw out Mubarak, but it appears they traded one master for another. The Military has given themselves the right to arrest citizens and the People's Assembly will be dissolved. Wonder when that powder keg will explode?

5. Syria - you are looking at either a ugly civil war or foreign intervention. To be sure in either event, if the regime thinks they are going down, you can be sure their advanced missile program will be put in use.


Or nothing could happen...but I do know I will be taking out some extra cash tomorrow, just in case. Better safe then sorry.

edit on 14-6-2012 by MidnightTide because: (no reason given)




posted on Jun, 14 2012 @ 10:25 PM
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Ah yeah. I saw this email this morning and it will be fun to watch the fire-works (if any) pan out this Sunday.

Perhaps I should dump all my stocks tomorrow just in case?

If SHTF over there I can see the US indices opening 2% lower and continuing to go down through the day.



posted on Jun, 14 2012 @ 10:37 PM
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reply to post by MidnightTide
 


Since it's a very short period of time that they are halting the markets, It can't be any of the things you listed. If they know something is going to happen it must be just a market changing decision.

One that comes to mind is, oil being traded by something other than the dollar. That would blow Forex up and it wouldn't take long. That one simple decision would send currencies into a frenzy.



posted on Jun, 14 2012 @ 10:42 PM
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Here is a link

www.nasdaq.com...

Thanks for the post.S&F



posted on Jun, 14 2012 @ 11:08 PM
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Fabian addressed this just today, a few hours ago. The audio gets all crappy in the middle but clears up. He's worth listening to, has always been very level-headed and not such the conspiracy nut as some tend to be.



posted on Jun, 14 2012 @ 11:24 PM
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reply to post by MidnightTide
 


Based on no fact whatsoever, my opinion is that Forex is frozen this weekend so that they can add the Drachma.

This is making huge assumptions on my part, I'll happily be wrong come Monday, but that is what I see as the most likely reason.



posted on Jun, 15 2012 @ 02:50 AM
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It is the greek elections. The results are coming in around that time. It's going to be big. The banks of the world have already prepared more liquidity, in other words they are going to pump a load of money in to the system. I can only hope some of these corrupt institutions fail.



posted on Jun, 15 2012 @ 08:10 AM
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Forex never trades on the weekends. The market is closed from Friday night in Hawaii until Monday morning in Japan.



posted on Jun, 15 2012 @ 04:17 PM
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Originally posted by MidnightTide

5. Syria - you are looking at either a ugly civil war or foreign intervention. To be sure in either event, if the regime thinks they are going down, you can be sure their advanced missile program will be put in use.



Russian ship carrying armed Russian troops is on its way to Syria to guard Russian assets.....so two sides are squared against one another.



posted on Jun, 15 2012 @ 08:37 PM
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Originally posted by CaptChaos
Forex never trades on the weekends. The market is closed from Friday night in Hawaii until Monday morning in Japan.


Yeah so for us eastern folk that means Asia opens up at 5pm, 7pm, 9pm as Australia, japan and Singapore open up. Then Europe at 2am, New York at 8am.



posted on Jun, 15 2012 @ 08:57 PM
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here's the deal...it's just sunday morning they will ignore, then around 7 pm new york time, they will set the price I'm three persons on the oanda forum, logically. MATHALLEY and rex....those three fight all time.....I had a thread called rex's forex fight club.he he

most brokers start trading at 5 pm new york time.....oanda and most of the commercial brokers show movement at 2 pm.....net dania charts starts at 5 pm and if a gap is seen it always fills back in!



posted on Jun, 16 2012 @ 09:17 PM
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OANDA apologizes for any inconvenience this may cause.



For more information, please contact a Customer Service representative.



Best regards,



The OANDA team



"Best Regards"? Really ? this is one of those email scams right?



posted on Jun, 16 2012 @ 09:18 PM
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reply to post by -W1LL
 


they are a legit trading company, and many banks are getting ready for a potential economic mess



posted on Jun, 17 2012 @ 06:51 AM
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Scared savers in 'jog' on banks


SAVERS across Europe are fleeing the continent's debt crisis, pulling billions of euros out of banks.

In Europe's most economically stricken countries, people are taking their money out of their banks as a way to protect their savings from the continent's growing financial storm.

Worried that their savings could be devalued, or that banks are on the verge of collapse and that governments cannot make good on deposit insurance, people in Greece, Spain and beyond are withdrawing euros by the billions - behaviour that is magnifying their countries' financial stresses. The money is being hoarded at home or deposited in banks in more stable economies.

In Greece and Spain, two of the hardest-hit by the debt crisis in the 17 countries that use the euro, savers and businesses are already pulling money out of banks.

They are either worried that their money could be converted into a new currency at a much lower value or because their bank might be on the verge of collapse.

It's a steady bank "jog" at the moment than a full-bore run. But it threatens to undermine the finances of those countries' already-stressed lenders. And if it does turn into a full bank run after Greece's crucial election today, it could hasten financial disaster in Europe and help spread turmoil around the world.


www.news.com.au...


Billions are being taken out daily, with fractional reserve banking, wonder how much money is left?




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