The "up-to-the-minute Market Data" thread

Double...sorry folks.

[edit on 22-2-2010 by OBE1]

Enjoyed the debate between OBE1 & GBM on the previous page. I thought both argued their cases well.


Back to the here & now:

The price of oil has risen to a six-week high as reports of a rescue for debt-laden Greece lifted the euro and helped push the US dollar lower.

A weaker dollar makes oil cheaper for buyers in other currencies. The euro rose 0.2% to $1.3633. It had fallen to a nine-month low of $1.3477 on Friday after the US Federal Reserve lifted a key interest rate.

US light, sweet crude oil rose 66 cents to $80.47 a barrel, before falling back to just above $80. London Brent climbed 58 cents to $78.64.

German magazine Der Spiegel reported over the weekend that Germany's finance ministry had come up with a plan that would see countries that use the euro providing aid worth between 20bn and 25bn euros (£17.6bn-£22bn) for Greece.

"The weak dollar is the biggest driver of crude prices this morning and hopes of a financial rescue for Greece are propping up sentiments," said Clarence Chu, a trader with Hudson Capital Energy in Singapore.

Oil price reaches six-week high as dollar weakens

HAHAHAHA

You can play futures on box office receipts now just reported on CNBC.

This is excellent, long live America and CFTC!!

jk, this is a joke unless it is useful for hedging billion dollar positions in movie industry, but still this is crazy even IMO

CFTC is a joke too especially if you have been reading what they are looking to do to the FOREX market by changing all the leverage.

Originally posted by GreenBicMan

You can play futures on box office receipts now just reported on CNBC.

I heard that as well.

The economy is all make believe, just like a movie.

Put it all on red and spin the wheel dealer. If I win I get the money. If I lose I'll expect the casino to reimburse me for my loss.

reply to post by In nothing we trust


I will actually side with you on this one perhaps, this seems like a total insider trading sham to me. Should be interesting at least.

Originally posted by GreenBicMan
reply to post by HimWhoHathAnEar

 

But just let me ask, if it all crashes, how will gold help you?

The gas station will not take it to put gas in your car. There will be no more gas station. Electricity. Internet. Cable TV... etc.

The real gold bullion is worthless as my worthless US Dollars in time of TRUE CRISIS. Not Dow 5000, but Dow 0. The best thing you have after that, the only thing you have left is your family and dog. No one is going to trade you food to live on if it is scarce for gold that has no value in a true crisis.

If you are not speaking of gold then I was wrong. If by insurance you meant soup pantry, well then I guess you are one step ahead of the game.

[edit on 21-2-2010 by GreenBicMan]

I was not speaking of gold, but I do agree with everything OBE1 had to say about it. I'm not trying to be cryptic about my counter measures, but like OB I'm not here for validation. I did ride gold up from around 600 to over a 1000. Dollars that is.

You made some very good points about the usefulness of precious metals in a true crisis. I have evenly weighted my insurance for all contigencies in which I might still be alive.

Buffett's Partner: 'It's Over' for U.S. Economy

moneynews.com...

Munger spells it out in a parable how the US came to this lowly place.

EUR / USD


[atsimg]http://files.abovetopsecret.com/images/member/0e0850ad112e.gif[/atsimg]

[edit on 22-2-2010 by GreenBicMan]




GBP JPY


[atsimg]http://files.abovetopsecret.com/images/member/8d814130579c.gif[/atsimg]

[edit on 22-2-2010 by GreenBicMan]

reply to post by HimWhoHathAnEar


Cool man

I have a feeling you will be able to buy into gold again here for a discount if you are a patient fellow. I do not believe the real gains have been made yet

we're all moving our accounts to europe....londonfxcm --cms etc.

we're also pulling down on the balance by june expecting skulldugery

reply to post by GBP/JPY


I thought this was not possible bc they would not accept US accounts.

Institutional money I would think would flow to the CME?

Retail money is f'd IMO -

Where do you stand?

reply to post by GBP/JPY


I am still hoping they do not pull this off.

You are probably right about moving accounts sooner than later. Any slip in liquidity will be noticeable and could potentially cost you dearly depending on your size etc.

reply to post by OBE1


lol

I know you can price it in Rubels or whatever currently, you can price it in GBM dollars if I gave you a rate, but my point was that if the dollar is 0, how do you price gold?

It is certainly in the eye of the beholder at that point.

I am still waiting for my chance to throw in my massive .1 lot into gold at some point and join you on your quest lol.

Originally posted by GreenBicMan
reply to post by OBE1

 

lol

I know you can price it in Rubels or whatever currently, you can price it in GBM dollars if I gave you a rate, but my point was that if the dollar is 0, how do you price gold?

It is certainly in the eye of the beholder at that point.

I am still waiting for my chance to throw in my massive .1 lot into gold at some point and join you on your quest lol.

You can easily price it if you are the Arbiter.
Because you can both evaluate and devalue.
The system is not realistic, it is relativistic.

For instance, do you believe that professional gamblers actually gamble?
They don't. They set. Only those who are not in control gamble. But that does not actually exhaust all their options...

The economy heading for another downturn, while the government is hiding the real facts about our economic growth luring investors to think that everything is under control.

Plans to Hide Commercial Real Estate Losses Won’t Avert a Double-Dip Downturn

Sooner or later, mounting losses on commercial real estate could crash through the market's 2009 optimism and send the economy and stocks into a double-dip downturn.

The major problem is that lawmakers and regulators are setting up investors into believing that commercial real estate (CRE) losses are being effectively addressed. The truth is that escalating losses are being hidden as part of a campaign of optimism in a desperate gamble that a robustly reviving economy will save the day.

moneymorning.com...





[edit on 23-2-2010 by marg6043]

reply to post by DangerDeath


The market sets the price

And yes, professional gamblers do gamble, they just use better risk management than all the other goons.

Books sets lines, they do not gamble, they collect the spread like a broker.

reply to post by marg6043

Driven by expanding problems with commercial real estate loans, the number of distressed banks in the U.S. rose to 702. Based on the result, roughly one in 11 of the approximately 8,000 U.S. banks are on this list, with regulators expecting a significant expansion in the number of failures throughout 2010, boosted in large part by increased losses on commercial real estate sustained by mid-sized and smaller banks

A congressional watchdog group reported on Feb. 11 that it over the next few years, a wave of commercial real estate loan failures could threaten the U.S. financial system, and in the worst-case scenario, hundreds of additional community and mid-sized banks could face insolvency

www.marketwatch.com...

www.abovetopsecret.com...

Fresh Economic Doom, i figure you guys would be interested..

reply to post by TheCoffinman


Thanks for the informative links, Coffinman.

And it's not just banks in the US:

European banks face showdown over €1 trillion of debt

European banks need to roll over €1 trillion (£877bn) of debt over the next two years at a much higher cost and in direct competition with hungry sovereign states, according to a report by Morgan Stanley.

Roughly €560bn of EU bank debt matures in 2010 and €540bn in 2011. The banks will have to roll over loans at a time when unprecedented bond issuance by governments worldwide risks saturating the debt markets. European states alone must raise €1.6 trillion this year.

"The debt burden that prompted the financial crisis has not fallen; rather, we are witnessing a dramatic transfer of private-sector debt on to the public sector. The most important macro-theme for the next few years will be how easily countries can service and pay down these deficits. Greece may well prove to be a taste of things to come..."

Here's the whole article (-are you sitting comfortably?):

European banks face showdown over €1 trillion debt